Regulatory function of the National Bank of Ukraine as a state administration

• Published in: Науковий вісник Ужгородського національного університету. Серія Право Vol. 3; no. 89; pp. 159 - 163
• Main Authors: Sevastianenko, O. V., Shevchenko, O. V.
• Format: Journal Article
• Language: English
• Published: 04.08.2025
• DOI: 10.24144/2307-3322.2025.89.3.23
• ISSN: 2307-3322

The National Bank of Ukraine, as a central body of state administration, which has a special status, has been increasing its influence on the system of entities providing financial services since its establishment. In this process, the player uses a significant role in the regulatory function, as a general function of state administration. Ensuring the stability of the system during the period of the large-scale attack of the Russian Federation on our state and maintaining public confidence in banking and other financial institutions has become a priority task of public authorities and the National Bank of Ukraine, as part of this authority. In the universal implementation of government, a number of actions are performed, certain functions enshrined in the norms of law, because the implementation of any function of a public authority is possible only in the case of its regulatory consolidation. The nature of the tasks related to management affect the content of management functions, and in a separate industry they are mentioned with the features of this industry. The regulatory function of the sphere of wide use in the financial sector is enshrined in the Law of Ukraine “On the National Bank of Ukraine” and is implemented by the National Bank through the installation for entities providing financial services, general requirements and rules for activities in the financial services market, requirements for the creation, maintenance, filling of information systems (registers, databases) by banks, non-bank financial institutions, postal operators; implementation of banking, currency regulation; determination of the procedure for issuing licenses to legal entities within their competence, etc. At the legislative level, ensuring the financial stability of the state (including the stability of the banking system), which, in turn, requires the application of the regulatory function, has been determined. The process of strengthening the status of the NBU as a regulator of the banking and financial system has been ongoing for several years. From year to year, amendments and additions are made to existing legislative acts, new laws are adopted (the Law of Ukraine “On Financial Services and Financial Companies”, the Law of Ukraine “On Cloud Services”, etc.). The powers of the National Bank of Ukraine are expanding significantly, which requires research into changes in this area.