The Methods of the Economic Regulation of Non-Bank Financial Institutions in the Provision of Financial Loans
Abstract
Problem setting. During the financial crisis in Ukraine the theme of non-bank financial institutions is especially actual problems of development , because in this phase of the economic cycle they effectively compete with banks in the financial market by providing highly specialized financial services. Analysis of recent researches and publacations. Features of legal regulation of the establishment of credit unions in Ukraine and licensing their operations investigated in the works A. Shamrai. Problems associated with the difficulty in registration of credit unions studied V. Goncharenko. To improve the legal regulation of credit unions noticed O. Zubatenko, M. Rudaia. Oversight and control of credit unions covering G. Tereshchenko, L. Ilchenko-Syuyva. Paper objective. The aim of this research is to analyze the legal nature of the means of economic regulation of nonbank financial institutions in the provision of financial loans, identifying legal issues, that arise in the process of creating NFU with the implementation of licensing their operations, develop proposals for improving the legislation of Ukraine in this area. Target of research. Nowadays the main feature of the researching on the non-bank financial institutions’ sphere is the need to improve not only quantitative but also qualitative indicators of activity in the financial services market. Restructuring and improving the effectiveness of the operation of non-bank financial intermediaries is the most important factor that can ensure the development of the financial services market of Ukraine. Conclusions of research. The problems of formation and functioning of credit unions in Ukraine need to be solved by amendments the existing legislation and removal of conflicts in the legal acts in this area. In particular, it concerns the mechanism of legalization of Credit Unions and loans. Also the standards by financial regulatory must be more defined. The transparency of these institutions ought to be ensured.
References
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