РЕГУЛЮВАННЯ БАНКІВСЬКОЇ ДІЯЛЬНОСТІ В УКРАЇНІ У КРИЗОВІ ПЕРІОДИ

Abstract

In a market economy, banks have extremely large opportunities to influence economic processes, which necessitates the regulation of their activities. The need to regulate banking activities is especially acute during the period of crisis in the country's economy, as banking activities are characterized by a much larger set of risks, which leads to its increased financial vulnerability. The modern banking system of Ukraine has been operating in a full-scale war for more than two years, which increases the number of risks and threats to the banking sector in particular and the Ukrainian economy as a whole. An effective banking regulation system is key to the normal and stable functioning of the banking system in such conditions, as well as to a rapid post-war recovery. Despite the considerable number of works devoted to the study of various aspects of banking regulation in Ukraine in the context of the financial crisis, it should be noted that the new realities and challenges within which the banking system operates today necessitate further comprehensive research of approaches to regulating banking activities in times of crisis in the domestic financial market. The purpose of the article is to clarify the practical features of banking regulation in Ukraine in times of crisis, and also to identify the key areas for its improvement in the context of significant uncertainty and volatility of the environment. The article defines the purpose and role of banking regulation in Ukraine in times of crisis. The legal framework regulating the activities of banks is studied. The key changes made to the regulatory framework by the National Bank of Ukraine during the crisis period are characterized. Practical approaches to the regulation of banking activities in Ukraine are characterized based on the analysis of the main indicators characterizing the state of development of the banking sector in the context of crisis turning points in the history of the formation of our country, namely: during the global financial crisis of 2008–2009, the local financial crisis of 2014–2016, the economic crisis of 2020–2021 and the current crisis conditions. The article also identifies the peculiarities of banking regulation in Ukraine in times of crisis. It is emphasized that the functioning of the Deposit Guarantee Fund in Ukraine has a significant impact on the stability of the financial system due to its ability to neutralize shocks and/ or consequences of crises by preventing panic of depositors and rapid withdrawal of insolvent financial institutions from the market. The key directions for improving the regulation of banking activities in the current conditions of high uncertainty are substantiated.