№ 1/2016

№ 1/2016

Nauk. pr. NDFI 2016 (1): 95–106

MARKET OF FINANCIAL SERVICES

TERESHCHENKO Hanna ¹, MUSATOVA Tatiana ²

¹SSI “Institute of Educatinal Analytics”
OrcID ID : https://orcid.org/0000-0002-9458-2843
²Financial Research Institute State Educational and Research Organization “Academy of Financial Management”

The strengthening of prudential supervision of non-bank financial institutions

The article deals with problems of prudential supervision of nonbank financial institutions in Ukraine and their decapitalization. The focus is on the need to strengthen such supervision and monitoring by regulators. The system of state regulation of non-bank financial institutions and other supervised entities in non-bank financial services markets is not always balanced and systematic. The legal framework is limited to basic legislation to protect the rights of consumers, investors, and creditors. This fact, along with the absence of specific legislation on some non-bank financial institutions, stymies the development of non-bank financial services markets, reduces their investment appeal, distorts their role in the development of Ukraine's economy as a whole. The article analyzes experience of post-crisis state regulation in the European Union. This experience shows the risk-based approach to supervision of non-bank financial institutions. It is prudential supervision that enables regulators to prevent crises and the threat of nonbank financial institution failures. The authors make conclusions regarding the possibilities of using foreign experience of prudential regulation and the implementation of relevant EU directives under conditions of European integration of Ukraine.

Keywords:non-bank financial institutions, financial sector, prudential supervision.

JEL: D53, G18, G23, G28.

Tereshchenko H. . The strengthening of prudential supervision of non-bank financial institutions / H. . Tereshchenko, T. . MUSATOVA // Наукові праці НДФІ. - 2016. - № 1. - C. 95-106.

Article original in Ukrainian (pp. 95 - 106)

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