The National Bank of Ukraine as an Subject of the Administration of Trade in Currency Values

2024;
: pp. 134 - 140
Authors:
1
Lviv Polytechnic National University, Educatinoal and Rasearch Institute of Law, Psychology and Innovative Education

Abstract. The article is devoted to the definition of the features of the functioning of the currency market in modern conditions, the analysis of existing challenges and threats caused by military actions, the economic situation of the state, the activities of entities that play an important role in the public administration of banking and financial legal relations. A thorough analysis of the peculiarities of the implementation of functions by the National Bank of Ukraine in the field of public administration of currency trading is presented.

Particular attention is paid to determining the competence of the National Bank of Ukraine as a subject of currency control. It was established that in Ukraine it is the National Bank of Ukraine that plays an important role as the subject of foreign exchange control, in particular, regarding compliance with the rules of regulation of foreign exchange transactions in relation to banks, persons who have received a license to carry out foreign exchange transactions, implements scheduled and unscheduled inspections. The effective organization of public administration of the defined sphere of financial relations is achieved through the adoption of normative legal acts of the Board of the National Bank of Ukraine.

The peculiarities of the organization and implementation of financial monitoring and currency supervision by the National Bank of Ukraine are analyzed. It was determined that an important area of ​​activity of the National Bank of Ukraine is the protection of the rights of consumers of financial services, supervision of compliance by banks and other providers of financial services with the current laws on the protection of consumer rights.

The transformational changes in the banking system that have been taking place in recent years under the leadership of the National Bank of Ukraine, including the digitization of the state's banking sector, have been analyzed. It was found out that the military actions led to the radical actions of the National Bank of Ukraine in the sphere of administration of trade in currency values, which helped to calm the panic of the population in the conditions of the beginning of the war in the country.

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