ЗАРУБІЖНИЙ ДОСВІД ТА ВІТЧИЗНЯНА ПРАКТИКА ВИКОРИСТАННЯ ТА РЕГУЛЮВАННЯ ФІНАНСОВИХ ІНСТРУМЕНТІВ НЕБАНКІВСЬКИМИ ФІНАНСОВИМИ УСТАНОВАМИ В УКРАЇНІ

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In the contemporary economic landscape, the non-banking financial services market has attained a significant prominence within the economies of developed countries. The primary objective is to examine the European experience, which will facilitate the selection of an appropriate model for the contemporary market of non-banking financial services and its instruments. The objective of this article is to examine the international experience of utilising and regulating financial instruments by non-bank financial institutions, with a view to assessing the feasibility of implementing this approach in Ukraine. A variety of scientific materials and individual methods were employed in the course of conducting the study. The abstract method was employed to analyze the professional literature on the subject, both domestic and foreign. To ascertain the potential for the advancement of financial instruments by non-bank financial institutions in Ukraine, the theoretical generalization and systematic methods were employed. The study's information base is comprised of official sources and data from recognized financial services market analysts. This article examines the experience of non-bank financial institutions in other countries. This study identifies the principal financial instruments and sources of financial resources for non-bank financial institutions in Ukraine. The regulatory and supervisory systems for financial institutions in Ukraine and abroad are examined, and the differences between them are identified. The primary challenges associated with regulating the activities of non-bank financial institutions in Ukraine have been identified. It has been concluded that the advancement of regulation and supervision in the Ukrainian financial market should be based on contemporary approaches and novel regulatory principles observed in European practice. This entails the unification of regulatory procedures, the implementation of risk-based supervision and the establishment of standardized risk management procedures, the reinforcement of control over the owners and managers of financial institutions, as well as the concentration and integration of regulatory functions within a single regulator. An additional crucial factor is the regulator's capacity and inclination to collaborate effectively with international financial institutions and their associations. The effective advancement of lending activities in the non-banking financial sector necessitates not only an enhancement in the level of borrower protection through the optimization of state regulation, but also an expansion in consumer financial awareness.