Why is this important
Expansion of the powers of inspectors strengthens supervision over the banking system, reduces the possibility of evading control, and increases the responsibility of all links of the banking network.
What happened
- The draft resolution replaces the term “banks and their branches” with simply “banks”, legitimizing inspections in all subdivisions of credit institutions.
- Verification is permitted in head offices, branches, customer service centers, and other offices.
- Sudden inspections are possible when violations are detected by remote monitoring or when errors remain unresolved.
- The regulatory document details the composition of the inspection groups, the procedure for drawing up acts, the control over the elimination of shortcomings, and reporting.
- The goal is to strengthen comprehensive oversight and control mechanisms for eliminating violations.
Context
The current regulation on the procedure for conducting inspections of banks and their branches has been codified in regulatory acts, which have subsequently been modified. In 2024-2025, the Central Bank already took measures against a number of banks based on the results of inspections of identified violations. Draft amendments to the regulatory framework for banking supervision are regularly published on the Central Bank’s website in the “Draft Regulatory Legal Acts” section.
