The National Bank of Ukraine plans to change the rules for disclosing banking secrecy. But there will be no total control over Ukrainians’ money – debtors will feel the innovations first of all, and for the rest of the citizens, the procedures will become more digital.<\/p>\n
In a comment to RBC-Ukraine, the president of the National Association of Banks of Ukraine (NABU), Serhiy Naumov, told about what exactly the regulator is preparing and whether it is worth worrying about the confidentiality of their deposits.<\/p>\n
The main thing:<\/p>\n
There will be no mass disclosure: For the majority of law-abiding citizens and businesses, the level of privacy will not change.<\/p>\n
A blow to debtors: The executive service will receive more detailed information about accounts, terms of deposit agreements and even electronic wallets.<\/p>\n
Automatic lifting of arrests: If the amount of debt is small, after its payment, the accounts will be unblocked automatically.<\/p>\n
More flexibility for the NBU: The regulator will be able to request data from banks without being tied to the official terms of inspections.<\/p>\n
What the NBU proposes to change<\/p>\n
The National Bank has submitted a new draft for public discussion. Its main goal is to bring the NBU’s instructions into line with the new Law No. 4833-\u0418\u0425 on the digitalization of enforcement proceedings, which will come into full force on October 23, 2026, as well as to optimize the regulator’s own control functions.<\/p>\n
In particular, it is proposed to clarify the procedure for banks to provide information to state and private enforcement agents about the types of client accounts and the terms of deposit agreements. The draft also provides for changes to the procedure for the regulator to receive information containing banking secrecy.<\/p>\n
Will banking secrecy be abolished for ordinary clients<\/p>\n
The President of the NABU emphasized that the proposed changes do not mean opening the banking secrecy of every Ukrainian to all state bodies. According to him, banking secrecy continues to be protected by law, and access to it is possible only in cases directly defined by law. At the same time, the draft specifies practical mechanisms for access to information for individual entities – primarily state and private executors, as well as the National Bank itself.<\/p>\n
”For the average client, the bank will not begin to transfer all information about all clients. For the majority of citizens and businesses, there will be no daily changes,” Serhiy Naumov noted.<\/p>\n
What will change for debtors<\/p>\n
According to the President of the NABU, the most noticeable innovations will be for clients entered into the Unified Register of Debtors.<\/p>\n
After the relevant law comes into force, state and private executors will be able to receive additional information, in particular:<\/p>\n
about types of bank accounts;<\/p>\n
the term of validity of bank deposit agreements;<\/p>\n
in some cases – information about the amount of debt on a loan secured by collateral or mortgage.<\/p>\n
Also, to repay debts, they will be able to impose an arrest not only on funds in bank accounts, but also on electronic wallets and electronic money.<\/p>\n
What will become easier after debt repayment<\/p>\n
At the same time, the changes also provide for the simplification of certain procedures for debtors.<\/p>\n
In particular, if the amount of the debt does not exceed ten minimum wages (86,470 hryvnias), after its full repayment, the Automated Enforcement System will send a notification to the bank.<\/p>\n
Based on such a notification, the debtor will be excluded from the Unified Register, and the seizure of his funds will be lifted without additional procedures.<\/p>\n
Will the NBU receive more powers<\/p>\n
A separate block of changes concerns the relations of the National Bank itself with financial institutions. The draft removes the norm that allowed the NBU to request information with banking secrecy only during scheduled inspections or official supervision.<\/p>\n
Serhiy Naumov notes that this will add procedural flexibility to the regulator, but at the same time draws attention to an important balance.<\/p>\n
“NABU agrees that banking secrecy should not be a tool for evading legal decisions or supervision. But access to it should be clearly limited, justified, and controlled. Customer trust in the banking system is no less important than the effectiveness of state procedures,” the president of the association summarized.<\/p>","protected":false},"excerpt":{"rendered":"
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