Monday, October 10, 2011

KYIV, October 10, 2011 (UKRINFORM). The National Bank of Ukraine and the Swedish Financial Supervisory Authority signed a memorandum of understanding in Stockholm regarding cooperation in the sphere of supervision over credit establishments, the NBU press service informs. According to the NBU statement, the document regulates cooperation of two supervisory authorities in different spheres of banking supervision, including mutual exchange of information about the general state of banking systems and individual banking institutions, opening and licensing of branches and daughter enterprises of foreign banks, holding of permanent supervision and examination of such institutions, carrying out consolidated supervision, prevention of the use of banks for money laundering, etc. The memorandum also contains obligations of the parties on confidentiality as regards the bank secret and its use exclusively with supervision aims.