Espreso. Global

National Bank of Ukraine plans to initiate Ukraine's accession to SEPA in 2024

15 December, 2023 Friday
14:39

In the course of Ukraine's financial integration into the EU, the National Bank of Ukraine plans to initiate the process of Ukraine's accession to the Single Euro Payments Area (SEPA) starting in 2024

client/title.list_title

National Bank of Ukraine (NBU) Governor, Andriy Pyshnyi, reported the information.

"Our goal is to ensure that the national system of regulation and supervision in the financial services sector complies with European norms and standards through the implementation of relevant EU legislation," the statement says. According to Pyshnyi, Ukraine has made significant progress in improving legislation for the non-banking sector and will begin a transition period for the insurance market in early 2024, which should lead to full compliance with European standards of regulation and supervision.

Pyshnyi assured that he would maintain a high pace of modernization of banking legislation. “The next step is to improve the requirements for the capital structure of banks, which will further enhance the reliability of our banking system. EU membership implies free movement of capital,” he added. The NBU will work to ease currency restrictions, move to greater exchange rate flexibility, and return to inflation targeting in line with the strategy we have developed.

"We have also done a thorough groundwork and next year we plan to initiate the process of Ukraine's accession to the Single Euro Payments Area (SEPA), which will allow us to take another step towards financial European integration," the NBU governor emphasized.

What is known about Ukraine's accession to the EU

On November 8, the European Commission recommended starting the process of negotiations on Ukraine's accession to the EU.

European Commission President Ursula von der Leyen stated that Ukraine was successfully moving forward with European integration and was fighting hard for European values, so Ukraine's membership in the EU would mean its ultimate victory.

Subsequently, Slovak Prime Minister Robert Fico said that he believed Ukraine was not ready for EU membership, but would not block the start of accession negotiations.

At the same time, Spanish Prime Minister Pedro Sanchez called for negotiations to begin by the end of 2023.

On November 13, members of the European Parliament called on the Council of Europe to decide on December 14-15 to start negotiations on Ukraine and Moldova's accession to the EU.

At the same time, Hungarian Prime Minister Viktor Orban, who arrived at the EU summit, said that his position had not changed: Ukraine is not ready to join the EU.

On Thursday, December 14, the European Council decided to start accession talks with Ukraine and Moldova, and also granted candidate status to Georgia. The EU is ready to start official negotiations on December 18.



 
Tags:
Read also:
  • News
2024, Friday
19 July
20:20
Exclusive
Three wards of Kyiv children's hospital resume work after Russian missile strike
19:33
Updated
Russian missile strikes Mykolaiv residential area, killing 3, including child
19:05
76 clashes occur at front, Russian army most active in Pokrovsk, Lyman sectors - Ukraine's General Staff
18:40
Ukraine's first 3D-printed house built for family of fallen soldier
18:16
OPINION
God helps those who take action to help themselves
17:50
Zelenskyy after meeting with Tusk: Poland greenlights F-16 jets for Ukraine
17:23
Ukraine signs £2 billion loan agreement with UK
16:55
Exclusive
Russian army is approaching key Pokrovsk-Kostiantynivka-Chasiv Yar highway - military expert
16:32
Zelenskyy discusses frontline and long-range weapon needs with Starmer
16:14
Ukrainian anti-aircraft gunners down Russian Su-25 in Donetsk region
15:53
Landmark event: Ukraine's Navy reports on downing of Iskander over Odesa region
15:34
Ukraine's enegry sector receives €100 million EU grant: allocation plans
15:13
Russia uses new methods to circumvent oil trade sanctions
14:56
Ukraine's plea bargain bill in corruption cases under EU Commission review
14:40
12 Ukrainian children returned from occupied eastern and southern parts of Ukraine
14:16
OPINION
Zero-sum war
13:58
Russian helicopter with FSB officers on board goes missing
13:40
Ukraine's Zelenskyy to address British government meeting first time since Clinton in 1997
13:20
Exclusive
Russia struggles to secure missile boats in Crimea targeting Odesa, Chornomorsk routes
12:59
Nearly 80% of Russians avoid occupied Crimea due to security risks - Ukraine intelligence
12:45
Russia attacks Kherson region with Grad MLRS, leaving 2 dead, medical workers injured
12:34
Exclusive
Russia recovers old and new weapons from arsenal, Malva destruction shows - military expert
11:58
Scholz rejects Zelenskyy's call for allies to shoot down Russian targets over Ukraine
11:43
Kim Jong Un hosts Russian military delegation
11:26
Russian troops strike Chuhuiv with Iskander missiles injuring 9 people, including teenager
10:58
Review
Ukraine's moves in Krynky, Kherson region divert major Russian forces. Serhiy Zgurets’ column
10:35
130 combat clashes take place at frontline, Russia storms in 10 directions - Ukraine's General Staff
10:10
Exclusive
Russian troops are getting closer to Kupyansk community - local official
09:57
Diplomatic settlement of war is possible, says Ukraine's President Zelenskyy
09:35
Russia loses air defense system, 980 soldiers, 55 artillery systems in one day of war in Ukraine
2024, Thursday
18 July
21:30
Review
Victorious news of 876th day of war: Ukrainian drones hit Russian Coast Guard base in occupied Crimea, Ukrainian combat system certified to NATO standards
21:15
OPINION
Von der Leyen's re-election is good news for Ukraine
21:00
Exclusive
UK needs negotiator: international expert Kraiev on Johnson's meeting with Trump
20:44
Ukraine returns 758 children from Russia and occupied territories
20:24
Ukraine signs security agreements with Czech Republic, Slovenia
20:01
UNHCR to provide $100 million to help Ukraine prepare for winter
19:40
Russia creates “law enforcement“ groups from locals in occupied territories
19:23
Russian T-54 tank
Russians showed echelon of T-54 tanks in Moscow region, which grabbed attention
19:00
Russian Shahed drones enter Belarusian airspace for reason - military expert
18:40
Russia shells Kherson: one killed and wounded, humanitarian mission vehicle damaged
More news