CONCEPT AND CLASSIFICATION OF NON-BANKING FINANCIAL INSTITUTIONS
##plugins.themes.bootstrap3.article.main##
##plugins.themes.bootstrap3.article.sidebar##
Abstract
The purpose of this article is to define the concept and classification of non-bank financial institutions. Subject of the research – concept and classification of non-bank financial institutions. The concept of a non-banking financial institution is presented; the characteristics of a financial institution are defined; the classification of non-banking financial institutions has been carried out; the classification of financial intermediaries has been carried out; the concept of investment funds is defined; the classification of NFIs by lending method has been carried out; the functions performed by financial intermediaries between creditor and borrower are defined; the concept of a credit union is presented. Credit unions are a relatively new and under-studied type of financial institution. Looking at them in the context of the system of subjects of administrative law, it should be noted that they occupy a special place because, thanks to them and their activities, the state in a certain way performs its functions and tasks. Credit unions do not exist in a legal vacuum, they are not completely separated from the state, they are not subject to regulation by only one branch of the law, nor are they the subject of research in only one branch of the law. Credit unions are in constant close interaction with the state, its bodies, systematically feel its influence or the influence of the legal and political processes taking place in the state. Methodology – the article uses general scientific methods of formal logic (analysis, synthesis, deduction, induction, analogy, abstraction and modelling). Results. The concept of a non-banking financial institution is defined – as a legal entity that is not a bank, has a special legal status of a financial intermediary, is registered in the Unified State Register of Financial Institutions on the basis of a licence issued by the National Bank of Ukraine, provides one or more financial services in the markets of insurance, credit cooperatives, accumulating pension funds, attracting investments from business entities and the population; has been classified as a non-banking financial institution; has demonstrated that important elements of the system of administrative and legal regulation and supervision are in place: requirements for reporting by NFIs, conducting scheduled and unscheduled inspections of their activities and ensuring compliance with legal requirements, in particular by applying certain influence measures in case of detection of violations of legislation.
How to Cite
##plugins.themes.bootstrap3.article.details##
non-banking financial institution, the concept of a non-banking financial institution, classification of non-banking financial institutions
Soloshkina, I.V. (2013). Finansovi posluhy yak pravova katehoriia: poniattia, suttievi storony ta inshi oznaky [Financial services as a legal category: concept, essential parts and other features]. Law Forum, vol. 4, pp. 388–394. (in Ukrainian)
Teslenko, T.I. (2019). Kharakterystyka nebankivskykh finansovykh ustanov ta pobudova bukhhalterskoho obliku v nebankivskykh finansovykh ustanovakh [Characteristics of non-banking financial institutions and construction of accounting in non-banking financial institutions]. Pryazovsky Economic Bulletin, vol. 2 (13), pp. 376–380. (in Ukrainian)
Buha, H.S. (2021). Nebankivska finansova ustanova Ukrainy yak subiekt hroshovo-kredytnykh vidnosyn [A non-bank financial institution of Ukraine as a subject of monetary and credit relations]. Legal Journal of Donbass, vol. 3 (76), pp. 69–76. (in Ukrainian)
Buha, H.S. (2022). Nebankivska finansova ustanova yak obiekt administratyvno-pravovoho rehuliuvannia [Non-bank financial institution as an object of administrative and legal regulation]. Legal Scientific Electronic Journal, vol. 1, pp. 178–181. (in Ukrainian)
Pro finansovi posluhy ta derzhavne rehuliuvannia rynkiv finansovykh posluh [On financial services and state regulation of financial services markets] Law of Ukraine dated July 12, 2001. № 2664-III. Date of update: 01/08/2022. (Loss of action will take place on January 01, 2024). Available at: https://zakon.rada.gov.ua/laws/show/2664-14#Text.
Savchuk, O.O. (2021). Hospodarsko-pravove rehuliuvannia diialnosti nebankivskykh kredytnykh ustanov v Ukraini z urakhuvanniam pytan adaptatsii do zakonodavstva Yevropeiskoho Soiuzu [Economic and legal regulation of the activities of non-bank credit institutions in Ukraine, taking into account adaptation to the legislation of the European Union] : dis. … cand. legal sciences: 12.00.04 / Nats. yuryd. un-t im. Yaroslava Mudroho. Kharkiv, 220 p. (in Ukrainian)
Pro rozghliad pytannia shchodo vyznachennia termina «finansovo-kredytna ta nebankivska finansova ustanova [On considering the issue of defining the term "financial and credit and non-banking financial institution] Letter from the State Committee of Ukraine on Entrepreneurship Development dated December 02, 1999. № 14/3556. Available at: https://zakon.rada.gov.ua/rada/show/v3556276-99#Text
Pro zatverdzhennia Polozhennia pro poriadok vydachi nebankivskym finansovym ustanovam litsenzii na perekaz [On approval of the Regulations on the procedure for issuing transfer licenses to non-banking financial institutions] Resolution of the National Bank of Ukraine dated February 26, 2013. № 57. loss of action August 22, 2017. Available at: https://zakon.rada.gov.ua/laws/show/z0407-13#Text
Pro zatverdzhennia Polozhennia pro poriadok reiestratsii platizhnykh system, uchasnykiv platizhnykh system, uchasnykiv platizhnykh system ta operatoriv posluh platizhnoi infrastruktury [On approval of the Regulation on the operation of intrastate and international payment systems in Ukraine] Decree of the National Bank of Ukraine dated February 4, 2014 No. 43. loss of action August 01, 2022. Available at: https://zakon.rada.gov.ua/laws/show/z0348-14#Text
Pro finansovi posluhy ta finansovi kompanii [On Financial Services and Financial Companies] Draft Law of Ukraine № 5065 dated February 15, 2021. Available at: http://w1.c1.rada.gov.ua/pls/zweb2/webproc4_1?id=&pf3511=73446
Nebankivska finansova ustanova [Non-bank financial institution]. Available at: https://uk.m.wikipedia.org/wiki/Nebankivska_finansova_ustanova. (in Ukrainian)
Stratehiia rozvytku finansovoho sektoru Ukrainy do 2025 roku. Natsionalnyi bank Ukrainy [Strategy for the development of the financial sector of Ukraine in 2025. National Bank of Ukraine]. Available at: https://bank.gov.ua/ua/news/all/strategiya-rozvitku-finansovogo-sektoru-ukrayini-do-2025-roku-7686
Kornieiev, V.V. (2000). Finansovi poserednyky: instytutsiina rol ta instrumentarii [Financial intermediaries: institutional role and tools]. Finance of Ukraine, vol. 2, pp. 37–45. (in Ukrainian)
Versal, N.I., & Doroshenko, T.V. (2007). Teoriia kredytu [Credit theory]. Kyiv: Kyievo-Mohylianska akademiia, 483 p. (in Ukrainian)
Hurova, K.D., Shelest, O.L., & Kolupaieva, I.V. (2018). Finansy, hroshi ta kredyt [Finance, money and credit]. Kharkiv: Svit Knyh, 672 p. (in Ukrainian)
Kovalchuk, K.F., Arkhireiska, N.V., & Valeniuk, N.V. (2018). Rynok finansovykh posluh [Financial services market]. Dnipro: NMetAU, 135 p. (in Ukrainian)
Hlushchenko, S.V. (2015). Hroshi. Kredyt. Kredytnyi rynok [Money. Credit. Credit market]: Kyiv: NaUKMA. 204 p. (in Ukrainian)
Savluk, M.I., Moroz, A.M., Pukhovkina, M.F., etc. (2011). Hroshi ta kredyt [Money and credit]. Kyiv : KNEU, 602 p. (in Ukrainian)
Pro zahalnooboviazkove derzhavne sotsialne strakhuvannia [On Compulsory State Social Insurance] Law of Ukraine dated September 23, 1999 № 1105-XIV. Date of update: 02/04/2022. Available at: https://zakon.rada.gov.ua/laws/show/1105-14#Text
Kartamysheva, O.Ye. (2012). Administratyvno-pravove rehuliuvannia diialnosti nebankivskykh finansovykh ustanov v Ukraini [Administrative and legal regulation of the activities of non-banking financial institutions in Ukraine]: dis. … cand. legal sciences : 12.00.07. Irpin, 2012. 195 p. (in Ukrainian)
Polozhennia pro investytsiini fondy ta investytsiini kompanii Ukrainy [Regulations on investment funds and investment companies of Ukraine] Decree of the President of Ukraine dated February 19, 1994. № 55/94. Available at: https://zakon.rada.gov.ua/laws/show/55/94#Text
Pro instytuty spilnoho investuvannia [On joint investment institutions] Law of Ukraine dated July 05, 2012. № 5080-VI. Date of update: 01/07/2021. Available at: https://zakon.rada.gov.ua/laws/show/5080-17#Text
Versal, N.I. (2002). Kredytni spilky yak efektyvna forma mikrokredytuvannia [Credit unions as an effective form of microcredit]. Economics of the agro-industrial complex, vol. 7, pp. 89–92. (in Ukrainian)
Bytiak, Yu.P., Harashchuk, V.M., Diachenko, O.V., etc. (2005). Administratyvne pravo Ukrainy [Administrative law of Ukraine]. Kyiv, 544 p. (in Ukrainian)
Honcharuk, S.T. (1995). Administratyvna vidpovidalnist za zakonodavstvom Ukrainy [Administrative responsibility under the legislation of Ukraine]. Kyiv, 78 p. (in Ukrainian)
Dovhopolyk, A.A. (2009). Stanovlennia kredytnykh spilok v Ukraini i sviti [Formation of credit unions in Ukraine and in the world]. Bulletin of Kharkiv National Technical University of the State of Agriculture, vol. 92, p. 84–88. (in Ukrainian)
This work is licensed under a Creative Commons Attribution 4.0 International License.