The National Bank of Ukraine has conducted thorough preparatory work and in 2024 plans to initiate the process of joining Ukraine to the Single Euro Payments Area (SEPA), which will make it possible to take another step in the direction of financial European integration.
The National Bank continues European integration measures
In 2024, the National Bank of Ukraine plans to initiate the process of joining Ukraine in the Single Euro Payments Area (SEPA).
The NBU chief, Andriy Pishnyy, published on his Facebook page.
On December 14, the European Council decided to start negotiations on Ukraine's accession to the EU.
Pyshnyy emphasized that the goal of the National Bank is to ensure compliance with European norms and standards of the national regulatory and supervisory system in the financial services field through the implementation of relevant EU legislation.
Yes, we have made significant progress in improving the legislation for the non-banking sector, and the transition period for the insurance market will begin at the beginning of next year, which should ultimately lead us to full compliance with European standards of regulation and supervision, he added.
The regulator will also support the high pace of modernization of banking legislation. Now, it is time to improve the requirements for the capital structure of banks, which will further increase the reliability of our banking system.
We have also conducted thorough preparatory work and next year we plan to initiate the process of joining Ukraine to the Single Euro Payments Area (SEPA), which will enable us to take another step in the direction of financial European integration, he added.
The US welcomed the European Council's decision on EU enlargement
The summit's decision in Washington was called a "historic moment" for Europe and the transatlantic partnership.
The decision to start EU accession negotiations with Ukraine and Moldova, to grant EU candidate status to Georgia, and to start accession negotiations with Bosnia and Herzegovina as soon as it fulfills the necessary criteria, give hope and incentive to these countries and their peoples to continue reforms. necessary to advance their EU membership ambitions. This is a historic moment for Europe and for the transatlantic partnership, the statement said.
The State Department also said that the United States strongly supports the EU enlargement process and looks forward to helping candidate countries and potential candidates for EU accession as they continue essential reforms to EU membership.
At this crucial moment for the transatlantic community, we call on them to seize the momentum to realize their full democratic and economic potential and secure their future in Europe, the statement said.
