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NBU orders banks to control evaluation of property received as collateral 2 min read
The National Bank of Ukraine (NBU) has improved the requirements for organizing a risk management system in banks and banking groups, including obliging banks to control the evaluation of property received as collateral, the NBU press service has said.
The changes were adopted in NBU Board resolution No. 172 dated December 29, 2020, which was posted on the regulator s website and came into force on December 31, 2020.
According to the document, control over the appraisal of property pledged on secured loans provides for verification of the property value, rotation of property appraisers, monitoring of the independence of the external appraiser selection process and back testing of the property value (analysis of the comparability of the property sale value with its value determined during the last estimates).