Ukrainian Banks Research Articles

List of Professors and Students of the Zhytomyr Academy of 1790

The history of educational institutions that operated on the Right Bank of Ukraine in the 18th century is almost unexplored. In part, this can be explained by the lack of sources that could shed light on this aspect of Ukraine’s history. Considering this, the list of students and teachers of the Zhytomyr Academy, which is included in the register of the Roman Catholic population of the Kyiv Voivodeship, is unique. The source provides a list of students and teachers of the local educational institution by name and their ages. The vast majority of students came from noble backgrounds. Many of them belonged to noble families that settled in the Kyiv region and neighboring voivodeships in previous centuries.The list of students and professors of the Zhytomyr Academy is published with the preservation of the original format (table), the spelling is presented without changes, and the language of the source has not been modernized.

Інвестиційні уподобання населення України: реакція на шоки воєнного стану

The article contains the results of the analysis of the investment behaviour of Ukrainian households in the crisis caused by external armed aggression. The financial potential of Ukrainian households in the pre-war period was assessed, and it was concluded that the expenses of most of the population were directed to the consumer rather than investment purposes. It was found that the investment potential of households was directed, first, to the purchase of currency, real estate, and deposits, as well as to risky crypto-currency assets, the active use of which Ukraine is one of the world leaders, instead of public investments in securities and other financial instruments remain extremely limited. The choice of the population of Ukraine in favour of investments in currency, real estate, deposits, and government bonds is currently quite rational since investments in private instruments of the local capital market (both directly and through pension funds and mutual investment institutions) do not provide high profitability and are associated with significant risks. It was revealed that in the conditions of martial law, the investment priorities of the population were most affected by the need to protect savings from depreciation, finance the country’s defence needs, and the corresponding rate of growth of the state debt, as well as high risks of real estate investments and strict restrictions of the National Bank of Ukraine on capital movement. It has been established that at a relatively high level of inflation, Ukrainian citizens do not receive a deposit offer from banks that is adequate to maintain the solvency of their savings. A situation in the banking system that is dangerous for financial stability has been identified, which is associated with the formation of a liquidity “canopy” due to the balances on the current accounts of the population. Emphasis is placed on the need to urgently increase the reserve requirements for demand deposits and current deposits to stimulate the growth of the value of hryvnia assets and change the banks’ liquidity surplus structure. Prospective directions and tools for the placement of household savings are justified, considering the needs of the post-war recovery of Ukraine’s economy and the prospects for European integration.

Formation of marketing strategy for bank development in the banking services market

The subject of research is theoretical aspects of the formation of a marketing strategy for the development of the banking sector. The purpose of the article is aimed at researching existing aspects of marketing strategy formation and determining modern approaches to bank marketing strategy formation based on them. The methodological basis of the study is general scientific and special methods of scientific knowledge used at the empirical and theoretical levels of research: comparative, analytical, selective, dialectical, systemic approach, induction and deduction, generalization. Results of work. The article researches theoretical aspects of formation of marketing strategy of development of banking sector. The scientific concepts are generalized and the essence of the marketing strategy and its peculiarities in the activities of banking institutions are studied, the algorithm for forming an effective marketing strategy of the bank is formed, the role of banking marketing in the formation of the banking strategy in the banking services market is determined. Field of application of results in the activities of banking institutions of Ukraine. Conclusions. Marketing is becoming one of the most important factors of success in banking, along with general management, finance and technology. In this constable, the task of Ukrainian banks is to use the experience already acquired by developed countries. First, it is already proven in practice; the second, will minimize the funds and time for the banking system; thirdly, it can act as a basis for modern methodologies for the development and implementation of marketing strategies in commercial banks.

Місія банків за участю держави в капіталі у відновленні економіки

Introduction. The global pandemic crisis of 2019-2021 and the war of 2022 have exacerbated problems in the economy. In the extreme conditions of martial law, the domestic financial system demonstrated its institutional capacity, prevented a panic among creditors and kept the country's money circulation stable. In addition, millions of forced migrants were provided with the opportunity to pay in Europe with payment cards issued by Ukrainian banks in hryvnia. Problem Statement. Current risks of the global financial crisis and the role of state-owned banks in supporting the economic growth in the conditions of martial law and the post-war recovery of Ukraine's economy. Purpose. The goal is to provide proposals for neutralizing negative economic phenomena in the country and to justify changes to the development strategy of banks with the participation of the state in the capital. Methods. The research is based on the identification of patterns of the financial sector development as a whole and the banking system in particular; systemic approach - when clarifying interrelationships between its institutions; statistical comparisons and groupings, analysis and synthesis - in the process of researching monetary environment, forming and placing the resource potential of banks. Results. The main problems in the world economy and how they affect the current situation in Ukraine are considered. To a large extent, the capacity of the financial system has been achieved thanks to the market behavior of banks with the participation of the state in the capital (hereinafter - BDK), which occupy dominant positions on the market. The question of their role and place in the post-war reconstruction economy is of importance. Conclusions. It is expedient to expand the BDK network to the municipal level. In order to increase the liquidity of banks, the creation of a state company to work with negatively classified assets that were damaged as a result of military operations is justified. Changes are proposed in a number of provisions of the BDK development strategy until 2025. In order to generate a long-term credit resource, there is a need to establish a national bank for reconstruction and development through the restructuring of one of the BDKs, as well as the Company for the management of negatively classified assets to clean up the balance sheets of the BDK. The government’s investment activity is expected to increase in order to develop priority programs in the defense, energy and infrastructure sectors.

Economic evaluation of the efficiency of grain sorghum growing

The article presents the results of research on the economic evaluation of the effectiveness of growing grain sorghum under the complex influence of the elements of growing technology in the conditions of unstable moisture in the forest-steppe of the Right Bank of Ukraine. The purpose of the research was to determine the economic evaluation of the effectiveness of growing grain sorghum under the complex influence of technology elements. The experiment was carried out during 2019–2021 in the conditions of the research area of the educational and production center of Bila Tserkva National Agrarian University using various methods, namely: computational and statistical. To calculate the basic costs, we used technological maps of growing grain sorghum, which are used by producers in the conditions of the Kyiv region. Also, when determining costs, we relied on the indicators of the control variants of grain sorghum of the various hybrids we studied. It was found that the higher costs for grain sorghum cultivation technology amounted to UAH 5,149.9, for a yield of 7.88 t/ha, while for a yield of 6.65 t/ha it was UAH 5,067.1. It was recorded that a higher profit was obtained on the option of foliar fertilization with microfertilizer Alpha-Grow-Extra, 2 l/ha (1 treatment of 5 leaves, 2 – 9 leaves, 3 – throwing out panicles) in combination with Stimpo growth regulator, 20 ml/ha in phase 5 leaves for the cultivation of the Brigga sorghum variety – 39,638 UAH/ha. Under the condition of cultivation of the Yutami variety on the option of foliar fertilization with microfertilizer Alpha-Grow-Extra, 2 l/ha (1 treatment of 5 leaves, 2 – 9 leaves, 3 – throwing out panicles) in combination with Stimpo growth regulator, 20 ml/ha in phase 5 of leaves, a profit of 48,550 UAH/t was obtained, and with the similar use of microfertilizer and growth regulator Regoplant, 50 ml/ha in the phase of 5 leaves, it was 48,622 UAH/t. Key words: grain sorghum, economic assessment, basic costs, yield, profit.

Main Problems of Personnel Management in Banks of Ukraine

Main Problems of Personnel Management in Banks of Ukraine

Основні проблеми управління персоналом в банках України

The article examines problems in the personnel management system of a modern bank of Ukraine. The system of management and employee motivation was analyzed using the example of JSC "Oschadbank". An analysis of the personnel of JSC "Oschadbank" by age was carried out. Ways to improve the efficiency of enterprise management and the possibility of implementing these ways in JSC "Oschadbank" were considered. Problems in the management system were identified and recommendations were made for improving the personnel management system and improving the bank's competitiveness. The consequences of the implementation of our proposals in JSC "Oschadbank" have been demonstrated.

Protection of the rights of consumers of financial services in conditions of martial law

Oleksandr Anatoliiovych MATSAK The article discusses in detail the mechanism for ensuring the protection of the rights of consumers of financial services. The importance of prudential regulation is pointed out, the purpose of which is to preserve the strong financial position and capacity of financial institutions and the system. The aggression of the Russian Federation in 2022 caused great damage, therefore the importance of Ukraine's cooperation with the European Union, other states and international banks to ensure the protection of the rights of Ukrainians is indicated. The importance of a quick response of the state to the realities of today through the adoption of emergency legal acts is emphasized. The National Bank of Ukraine liquidated a number of systemically important banks that were under the leadership of the Russian Federation, which led to certain difficulties, which were discussed in detail in the article. Many ways of protecting and supporting consumers of financial services were noted, including: cancellation of fees for international transfers, introduction of the "cash at the counter" service, and support of the International Financial Fund. Next, the mechanism of implementation of the policy on the protection of the rights of consumers of financial services was considered. The protection of the rights of consumers of financial services, who are military personnel, is analyzed in detail. It is indicated that consideration of cases regarding the protection of the rights of consumers of financial services, where one of the parties is a serviceman, is subject to suspension until the end of martial law. It is also noted on the prohibition of forced demand for repayment of overdue debt for servicemen and their family members. The process of liquidation of systemically important banks and the impact on consumers of these banks' services is analyzed. It was noted that the state guarantees the return of funds to depositors, but not all funds can be returned, which sometimes causes indignation. The conclusion emphasizes that in the conditions of martial law, legislation on the protection of the rights of consumers of financial services quickly adapts to new realities and copes with its own tasks.

STRATEGY OF THE BANK FOR REDUCING NON-PERFORMING LOANS

The article examines the theoretical, normative, and methodical aspects of the formation of banks' strategies for reducing non-performing loans, systematizes, supplements, and details the system of factors that cause non-performing loans in domestic banks. The purpose of the study is to systematize and detail the list of possible factors for the emergence of problem loans and to develop an appropriate strategy for reducing nonperforming loans in domestic banks. The systematization of literary sources and approaches to solving this problem indicates the absence among scientists and experts in the banking sphere of a generally accepted system of factors for the emergence of non-performing loans in banks, which would take into account the different nature and subjects of their influence at the micro and macro levels. In addition, the study showed the need for the formation or revision of existing strategies for reducing non-performing loans, which will enable banks to be operationally ready for the settlement of particularly large volumes of non-performing loans in current realities. The urgency of solving this scientific problem lies in the fact that in the current conditions of a significant increase in the volume of non-performing loans, improving the quality of bank loan portfolios and ensuring the financial stability of the banking system as a whole is impossible without the development of a comprehensive strategy for reducing nonperforming loans. The study of the problem covered in the article is carried out in the following logical sequence: identification of the factors of the occurrence of non-performing loans in banks at the micro- and macro-levels, their systematization, addition and detailing by the nature and participants of credit relations that caused their occurrence; development of the bank's strategy for reducing non-performing loans, which includes the main stages of a comprehensive action plan and appropriate measures for the settlement of problem credit debt at each of these stages. The methodological toolkit of the research was a complex of complementary methods: analysis and synthesis, cause and effect analysis - for systematization, detailing and addition to the list of internal and external factors of the occurrence of non-performing loans in banks, system-analytical, logical generalization - for the development of a strategy for reducing non-performing loans in domestic banks, etc. The object of the research is portfolios of non-performing loans of domestic banks, as well as a set of factors of their occurrence and measures to reduce them. The article presents the results of a cause-and-effect analysis, which made it possible to systematize, detail, and supplement the list of internal and external factors of the occurrence of non-performing loans in banks. The results of the system analysis and logical generalization are presented, which serve as the basis for the formation of a strategy for reducing non-performing loans in banks. The results of the research can be useful for Ukrainian banks, allowing them to minimize credit risks in the future.

Capitalization of Ukrainian systemically important banks of military aggression of the rf

Introduction. Systemically important banks (SIB) play an important role in stability of the do­mestic banking and financial system since their activities significantly affect the country’s finan­cial system and the economy as a whole. Problem. Domestic banking system constantly functions in a mode of stress and uncertainty In conditions of war, therefore the National Bank of Ukraine pays special attention to the activities of systemically important institutions. Ensuring the proper functioning of SIB depends on the level of their capitalization, which is why the capitalization of systemically important banks is an extremely urgent issue today. The aim of the article is to determine the ability of SIB to meet capital adequacy require­ments as a factor of ensuring the stability and reliability of the domestic banking system and its macroeconomic stress resistance under martial law. Methods. Methods of theoretical genera­lization, analysis and synthesis, grouping, sys­tem approach were used in the paper. Results. The value of the capital standards of domestic SIB during the period of martial law was investigated, a comparative analysis of ca­pitalization indicators of SIB of Ukraine with their normative and forecast values under basic and adverse macroeconomic scenarios was car­ried out according to the results of the NBU stress testing. Banks that show signs of an unfa­vorable macroeconomic scenario have been iden­tified, and recommendations have been develo­ped regarding the need to take additional measures to increase the stress resistance of banks. Conclusions. In conditions of war, the SIB of Ukraine fulfills the requirements regarding the target values of the capital standards and has a sufficient margin of safety due to the appropriate level of capitalization, although the implemen­ta­tion of the basic macroeconomic scenario tur­ned out to be impossible, which caused lower than forecast capital indicators. Therefore, the regu­la­tor should pay additional attention to those banks that demonstrate negative trends for the implementation of an unfavorable macroeconomic scenario at this stage and prepare a set of mea­sures for their recapitalization in advance.

Digitalization of corporate business of Ukrainian banks

Introduction. Increasing competition bet­ween banks requires the introduction of banking products with a new service and economic design, based on modern software, technology and information platforms. Problem. Digitalization is becoming a key trend in conducting business for banks and their corporate clients. The aim of the study is to cluster banks by the level of digitalization and determine the relationship between it and indicators of market power, financial performance and cre­dit risk. Methods. Input normalized indicators for 32 banks of Ukraine, determined using the MINIMAX methodology, were used. The study was based on correlation-regression and cluster analysis. Results. The information base for calcu­lating the digitalization index for banks in the focus group was chosen based on the number of: the number of visitors to banks’ websites, regis­tered users of banks’ mobile applications (inclu­ding for legal entities and individuals), branded online inquiries, banking self-service devices, sub­scribers of banks in social media networks. When determining the level of digitalization in corpo­rate business, only two indicators were used: the number of registered legal entities that use mo­bile bank applications and the number of brand-name online searches for each of them. Three hypotheses were put forward and their empirical verification was carried out, accor­ding to the results of which it was established that there is a moderate correlation between the digitalization index and the credit risk indicator and a low correlation between the digitalization index and indicators of financial performance and market power. Among the financial indi­cators a noticeable correlation was found only between the level of the interest margin and the level of digitalization. Conclusions. For most of the banks in the focus group, a low level of digitalization is inhe­rent in the corporate business. It is proposed to develop a strategy for the development of the corporate business of banks on a new techno­logical platform, which will make it possible to extend digitalization processes not only to typi­cal, but also to exclusive financial services pro­vided to corporate clients, taking into account their individual service.

Evaluation of the bank’s attractiveness for corporate clients

Introduction. In conditions of high volatility of the market environment, there is a constant competition between banks for customers, espe­cially corporate ones, which generate a signifi­cant part of their income Problem. Customers are faced with the ques­tion of choosing a bank with the best conditions for their service. And since there is no single list of criteria or methods that would make it pos­sible to unambiguously compare the attractive­ness of banks from the customers’ side, the rese­arch proposed a method for choosing a bank. The aim of the article– is to develop an integrated approach to assessing the bank’s attractiveness for corporate clients Methods. The methods of system-structural, comparative analysis, logical generalization, scoring, rating are applied. Results. Banking service for corporate cli­ents is an integral part of the activities of both sides. Due to the large number of banks and the wide variety of their services, clients constantly face the problem of choosing a bank for service. The key criteria that influence the choice of banks by clients and generate opportunities for their cooperation were determined. A model for calculating the integral coefficient of attracti­veness of the bank for corporate clients was developed, its calculation was carried out. Ba­sed on the results of this calculation the rating of Ukrainian banks was compiled. Conclusions. The availability of objective information while choosing a bank for service is a key point in the process of strategic planning of the activities of any legal entity. It is important to find simple tools for evaluating the bank. The proposed methodological recommendations regar­ding the application of the integral coefficient are intended for use by corporate clients when choosing a bank for service.

ТРАНСФОРМАЦІЯ ФІНАНСОВОГО УПРАВЛІННЯ В БАНКІВСЬКОМУ СЕКТОРІ УКРАЇНИ ПІД ЧАС ВІЙНИ

Introduction. None of the spheres of social life, including the economic, can take place according to established approaches and mechanisms. Banking is no exception, first of all, the development of the banking sector, in which ambitious goals that lead to the acceleration of its transformation processes are always prominent. A key issue in the functioning of the banking sector at any stage of its development is ensuring financial stability in the short term and financial stability in the long term. This issue became even more relevant during the COVID-19 pandemic, and gained importance with the full-scale invasion of the aggressor country on the territory of Ukraine. The purpose of the article is to define the features of effective financial management, and substantiate the main parameters of the banking institutions business processes organization in the conditions of military aggression Results. The article formulates the main goal and principles of effective financial management in banking sector, namely: transparency, variability, reflexivity, informativeness, hierarchy, adaptability and corporateness. It has been proven that integration and process approaches to management are used in banking to ensure its effective functioning,. The effectiveness of financial management in the banking sector of Ukraine during 2021-2022 was studied through the analysis and assessment of the changes dynamics in banks' financial results, the amount of deductions to reserves for the depreciation of bank assets, the amount of non-performing loans, and the capital standards of banks. The key decisions of effective financial management by the National Bank of Ukraine after the full-scale invasion of the Russian Federation are diagnosed. Conclusions. The main parameters for organizing the business processes of the vast majority of banking institutions for effective bank-client communication are proposed, in particular, the organization of remote access, ensuring a smooth process of customer service, work on minimizing losses, reassessing the state of the loan portfolio and finding out its level of deterioration, duplication of personnel functions and others. It has been proven that in modern conditions effective financial management in banking is transformed in view of modern challenges and should be situational, fast and economically justified.

Українські банки в умовах воєнного стану

In the conditions of martial law, Ukrainian banks have reduced their credit activity, which is largely due not to the deterioration of the resource base, but to the increase in credit risks. State-owned banks were the most vulnerable to the shock caused by the war. There is too large a share of bank income in total interest income from securities transactions, for some banks it is so large that it is more in line with the investment bank business model. Very large investments in government securities carry the potential risk of recognition of losses and the need to form reserves in amounts that can be compared to equity. The rate of formation of reserves for such financial instruments is very slow. State-owned banks were the most vulnerable to the shock caused by the war. The main reason for unprofitability is the formation of reserves. The impact of the trade outcome is significant for state-owned banks and banks with local capital. It is supposed that the National Bank could recommend banks to set limit values of appetite for the risk of investments in securities. In order to monitor the financial condition of banks, it is suggested to use the ratio between reserve formation costs and interest income to analyze the nature of losses or profits of banks. During the war, many production capacities of the holdings were damaged and require investment expenditures for their reconstruction or some time to restore functionality, or their collateral value will be hopelessly lost. Crisis measures should include the sale of part of the assets and the relocation of production facilities. Therefore, a special program of preferential early financing of investment projects is extremely necessary for the recovery of the national economy.

State Regulation in the Sphere of Virtual Assets Turnover in Ukraine

Problem settings. The article examines the legal provisions for determining the measures of state regulation of the activities of virtual assets market participants which the Ukrainian legislator decided to apply in the sphere of circulation of such assets in Ukraine. The article analyzes the provisions of the Law of Ukraine No. 2074-IX “On Virtual Assets” dated February 17, 2022, which defines the State regulation of the virtual assets market as the implementation by the State, represented by the National Securities and Stock Market Commission and the National Bank of Ukraine, of comprehensive measures to streamline, control and supervise the virtual assets market, regulate the rules of operation of service providers related to the circulation of virtual assets, as well as measures to prevent and counteract abuses and violations in the virtual assets market. The study of legal regulation problems in the field of virtual assets was carried out such scientists as: S. Honcharenko [1, p. 152-157], A. Ovcharenko [2, p. 200-202], N. Arkhireyska, O. Kuchkova [3], V. Korneev [4, p. 40-46], O. Lyzunova [5, p. 196-199], O. Kud, M. Kucheryavenko, E. Smуchok [6, p. 33], V. Ryadinska [7, p. 152-157], A. Protsenko [8, p. 130-134], V. Polatai [9, p. 155-162] and others. The target of the research is to analyze the norms of Law No. 2074-IX to determine measures of state regulation of the activities of participants in the virtual assets market, which the Ukrainian legislator decided to apply in the sphere of circulation of such assets. Article’s main body. It is stated that the legislator has classified service providers related to the circulation of virtual assets and users of such services as participants of the virtual assets market. Services related to the circulation of virtual assets include services for the storage or administration of virtual assets or virtual asset keys, services for the exchange of virtual assets, services for the transfer of virtual assets, intermediary services related to virtual assets. The author emphasizes that the activities of service providers related to the circulation of virtual assets are allowed only subject to obtaining a permit for the provision of services related to the circulation of virtual assets of the relevant type. In addition, the amount of the fee for issuing a permit for the provision of services related to the circulation of virtual assets for residents and non-residents of Ukraine is fixed and it is noted that the issuance of such a permit is carried out in accordance with the procedure established by the National Securities and Stock Market Commission. At the same time, it is not clear what exactly the legislator meant by “permission”. Conclusions and prospects for the development. Taking into account that for such a permit providers of services related to the circulation of virtual assets will have to pay a certain amount of money, the author assumes that it will be a “state permit for the right to provide services related to the circulation of virtual assets” and in order to obtain it, service providers will have to meet certain conditions established by the relevant state body. This shows that the Ukrainian legislator introduces licensing of service providers related to the circulation of virtual assets, although for some reason does not use the term “licensing”. This fact is also confirmed by the requirements established by this Law for persons who plan to carry out activities for the supply of such services, which are essentially “licensing conditions”. The requirements for the procedure of obtaining a “permit” are similar to the requirements for the procedure of obtaining licenses enshrined in the Law of Ukraine No. 222-III “On Licensing of Economic Activities” dated March 2, 2015. It is summarized that the Ukrainian legislator in the formation of measures of state regulation of the activities of virtual assets market participants applied licensing, taking advantage of positive foreign experience.

Adaptation of banks' services in Ukraine to EU requirements

Problem setting. A properly functioning banking system that facilitates the provision of modern banking services, which is ensured by effective national legislation and its harmonization with EU law, can be considered a necessary prerequisite for the economic stability of any modern state. However, the effectiveness of legal regulation cannot be achieved without a clear understanding of the essence of the object of regulation and the instruments of influence on it, the place of banking regulation in the reforming and post-war restored economy of Ukraine, including in the conditions of modern regulatory mechanisms, such as Industry 4.0. Analysis of recent researches and publications. In recent years, the problems of legal regulation of banking operations have been dealt with by scientists from various fields of science and law, which corresponded to the current challenges of the time of conducting research. During the formation of banking law and legislation in Ukraine, the concepts of banking services and operations were mostly provided by Ukrainian scientists, in particular such as I. A. Bezkluby, O. O. Kachan, I. L. Nurzad, O. P. Orlyuk, most often on on the basis of a functional and substantive analysis or on formally legal grounds of the legislative definition of banking activity. Zh. O. Andriichenko, I. M. Chmutova drew attention to the development of the banking supervision system for banking operations based on a risk-oriented approach, the reliability of Ukrainian banks and their ability to resist the risks of money laundering. Bank payment services to be investigated by V.P. Bohun, I. M. Zhukov, S. M. Polovko, defining their content and tasks for improvement. At the same time, in the presence of separate legal concepts of financial services markets, including banking services, directly banking operations and types of banking activity, it becomes necessary to harmonize the legislative regulation of banking activity with the existing mechanisms of state regulation of the economy of Ukraine. Target of the research. In connection with the noted problems, in order to answer the question of the formation of directions for the legal regulation of banking activity and, at the same time, the state policy regarding the transition of the economy to Industry 4.0, the proper performance of the functions of financial intermediation of banks, it is necessary to determine possible tasks for the harmonization of further regulation of banking activity, the provision of financial services with mechanisms for restructuring the functioning of the economy of Ukraine in the conditions of Industry 4.0, as well as to note the trends of approximation of the regulation of banking operations to the requirements of the business environment, taking into account the interests of banks or their clients. Article’s main body. The actual dualism of the regulation of banking activity in Poland performs at least two functions: first, it defines the list of types of purely banking activity, and secondly, it clearly defines that these types of activities constitute the special competence of banks. Similar operations in the Law of Ukraine "On Financial Services", as well as in the Association Agreement between Ukraine, on the one hand, and the European Union, the European Atomic Energy Community and their member states, on the other hand, dated September 6, 2014, and in the Appendix regarding financial services to the General Agreement on Trade in Services (the Protocol on the Accession of Ukraine to the World Trade Organization, ratified by the Law of Ukraine "On the Ratification of the Protocol on the Accession of Ukraine to the World Trade Organization" dated 04/10/2008 No. 250-VI are classified as financial services and have in these normative acts, the substantive identity of the terms given in Directive No. 2013/36/EU for types of financial services, which are worded differently from the terms of these transactions in the Law of Ukraine "On Banks". Conclusions and prospects for the development. It is necessary to deviate from the definition of normative regulation of banking activity: either to remain on the basis of stable normative regulation or to regulate banking activity taking into account modern world trends regarding banking activity and financial services and as markets that contribute to the economic growth of the country. Therefore, there is currently a question regarding the improvement of approaches in accordance with which it is necessary to determine the ratio of modern means of legal regulation of banking activity, their justification and mandatory introduction into the economic and legal mechanisms of Industry 4.0.

Some features of the legal regulation of the State Service of Financial Monitoring of Ukraine

The article examines the issue of the administrative and legal status of the State Financial Monitoring Service of Ukraine. The main structural elements of the legal status of this service are determined. Theoretical approaches to defining the concept of "administrative legal entity" as the main element of the legal status of the State Financial Monitoring Service of Ukraine were analyzed. The author's definition of the administrative and legal status of the State Financial Monitoring Service of Ukraine is given. Ways to improve the current legislation in the field of combating the legalization of income obtained through criminal means are proposed.
 In view of the conducted analysis, we define the administrative-legal status of the State Financial Monitoring Service of Ukraine as a set of rights and obligations defined by legislation, which State Financial Monitoring has and is obliged to observe, acting as a party in administrative legal relations regarding the prevention and counteraction of legalization ( (laundering) of proceeds obtained through crime, financing terrorism and financing the proliferation of weapons of mass destruction. Administrative legal personality (legal capacity and legal capacity), rights and obligations are considered to be elements of the administrative and legal status of the State Financial Monitoring Service of Ukraine.
 We propose to minimize the influence of the Ministry of Finance of Ukraine on the formation of the personnel of the State Financial Monitoring Service of Ukraine, which will make it possible to increase the level of independence of the State Financial Monitoring Service in making relevant decisions, as well as to establish at the legislative level the possibility of this service to make inquiries about receiving information from the National Bank of Ukraine.
 We propose to supplement the Law of Ukraine "On prevention and countermeasures against the legalization (laundering) of proceeds of crime, the financing of terrorism and the financing of the proliferation of weapons of mass destruction:" with new provisions on the submission to the State Financial Monitoring Service of Ukraine by the subjects of state financial monitoring of reports on the initiated proceedings in cases of administrative offenses provided for by Art. Art. 166-9, 188-34 of the Code of Ukraine on administrative offenses, appeals of decisions and results of court proceedings. Subjects of state financial monitoring provide notification and maintenance of the specified reporting according to the form established jointly with the State Financial Monitoring Service of Ukraine.

New Ukrainian Insurance System

The article discusses the new insurance system in Ukraine introduced by the Law of Ukraine On Insurance dated 18 November 2021, which became effective on 19 December 2021 and will come into full effect on 1 January 2024. In 2020 the National Bank of Ukraine became the new regulator of the Ukrainian insurance market and initiated the development of a new regulatory and oversight model in the insurance sector. The article discusses the problems related to the Ukrainian insurance market which are expected to be solved by the new regulation and oversight model. The author presents the most important new solutions introduced by the Law, such as requirements relaed to entering the insurance market, ownership structure, capital , the protection of consumer rights and exiting the insurance market. The article also shows a brief comparative analysis of the relevant provisions of the Law and Directive 2009/138/EC. The author concludes that the new regulations are comprehensive and consumer-oriented, which will help to solve existing problems and build a solvent and competitive insurance market.

A model of a comprehensive phishing prevention system

In particular, the results of our analysis indicate that with the accumulation of large data sets (properties, conditions, influencing factors, consequences) it will be possible immediately obtain more accurate results about possible security events and thus reduce the amount of spent working time by at least 50%, taking into account costs time to eliminate the consequences of erroneous information security decisions that are of a subjective nature. The security administrator will reduce the time spent on risk analysis and prioritization, and will be able to start processing them almost immediately, which will increase the effectiveness of existing information protection mechanisms. According to the tasks, a model of a comprehensive phishing prevention system has been developed, which consists of a Telegram bot, a mobile application, a website, a browser extension, a shared database, and a DNS server. In this structure, the data collection processes are improved by increasing the number of participants in their formation. Data processing becomes faster due to automation, and data exchange is characterized by the standardization of the source. The system can also be used for the early detection of mass mailings. Such detection is based on estimating the number of transitions from one network to one link in a unit of time. The use of the system data will contribute to the safety of users and increase the effectiveness of CERT-UA, the Cyber Police, the National Bank of Ukraine, and the National Cybersecurity Coordination Center in the process of their operational interaction. The prospects for further research include the integration of artificial intelligence methods (BERT model) into the developed neural network infrastructure to improve the algorithms for identifying malicious resources. The development of the infrastructure also involves creating an API and its further use in messaging services (messengers, web resources with messaging function). Key words: cyber security, phishing, cyber risk.

Consumer expenditures and problems of savings of economic subjects in the conditions of economic shocks – behavioral aspects

The purpose of the article is to reveal the main reasons for the low level of savings, investments and excessive consumer lending and opportunities for improving financial well-being at the micro level and forming sources for future development. The article reveals the main problems of citizens’ savings and consumption that occurred before the crisis caused by the coronavirus pandemic. And which only intensified during it. Some macroeconomic indicators reflecting the state of citizens’ savings and dependence on income were analyzed. Despite the stable growth of the population’s income, the savings rate remains at a low level. On the other hand, the demand for loan funds is ahead of such growth. In this way, the thesis about the negative relationship between wage growth and the rate of savings, put forward by some scientists earlier, was proved. Regardless of the presence of economic factors affecting the level of consumption and savings, the psychological reasons for the low tendency of citizens to save were also analyzed. Among these reasons are the deficit thinking effect, the default effect, confirmation bias, and loss aversion bias. It was also analyzed based on the facts, how much the psychological prejudices of Ukrainians influenced financial behavior. In particular, the fallacy of prejudices regarding the impracticality of investing in deposits of Ukrainian banks, as well as the idea that the Ukrainian banking system underwent catastrophic transformations in the first years after the banking reform, was considered.The research methods are descriptive, analytical, methods of synthesis and comparison. As a result of the analysis, the article proposes a comprehensive approach to men’s behaviour toward savings during the pandemic according to behavioural economics.Consideration of the economic and psychological aspects of the situation with savings led to the provision of conclusions and proposals. The main task for improving the effectiveness of managing one’s own expenses today is to understand the reasons for irrational behavior of people in new circumstances from the point of view of behavioral economics and the application of the theory of “pushing” for the formation of positive socio-economic changes. It is suggested to use this paper for further and deeper practical research of certain aspects of changing people’s behaviour for better investment solutions and financial wellbeing.
 JEL classіfіcatіon: D14, D91, E21