Purpose. Supporting central banks in strengthening their institutional capacity to carry out effective monetary policy, promote a stable and efficient financial system, and enhance the sustainability, stability, and efficiency of operations at central banks.
Components:
- monetary policy analysis and implementation
- macroeconomic data and statistics
- research
- financial stability and banking supervision
- financial inclusion
- financial sector development and payment systems
- environmental sustainability
- resilience and risk management
- human resource management and international cooperation.
As part of its cooperation under this program, the NBU has the opportunity to learn from the experience of its partners and share its own best practices and expertise with the participating central banks of Albania, Azerbaijan, Bosnia and Herzegovina, Colombia, Morocco, Peru, Tunisia, and Uzbekistan.
Products implemented for the NBU and key events:
- advisory support was provided on the issues of information security (enhanced user authentication in the payment market, cyber protection of critical infrastructure facilities in the banking system)
- draft was prepared for self-assessment report on the compliance of the procedure for determining, calculating, and publishing money and foreign exchange market indicators administered by the NBU with the principles set out in the IOSCO document: Principles for Financial Benchmarks Final Report July 2013
- recommendations were provided on changes to the methodology for calculating foreign exchange market indicators, the introduction of a new benchmark, i.e. reference value of the hryvnia exchange rate to the euro; changes to the methodology for calculating the official hryvnia exchange rate and determining the principles for forming a list of currencies for its setting; on issues related to working with errors in calculating indicators of the money and foreign exchange markets
- participation of the representatives of the NBU in 12th Annual Conference of the BCC "Monetary policy in the changed conditions" and the seminar "Impact of CBDC adoption on the transmission mechanism" was ensured, in Geneva, Switzerland
- assistance was provided in creating a database based on the data of the credit register for calculating retail lending metrics and assessing credit risk factors, using the database indicators, calculations of retail lending metrics were performed and factors affecting the probability of default of the borrower were identified, methodological approaches for calibrating retail lending metrics were developed
- two tools have been built to expand the tools for analyzing systemic risks for the purposes of informing macroprudential policy, namely "Bank capital at risk" and “Share of vulnerable banks"
- a study was conducted, titled Shock Waves from Ukraine: Trends and Gaps in Agricultural Product Prices.