Constitutional and legal principles of building the institutional capacity of the National Bank of Ukraine
Authors: Naturkach R. P. 
Published: September 2024

The article is devoted to the study of the issue of the constitutional and legal foundations of the development of the institutional capacity of the National Bank of Ukraine. The Constitution of Ukraine, the Law of Ukraine «On the National Bank of Ukraine», the Regulations «On the Audit Committee of the Council of the National Bank of Ukraine» and other legal acts in the context of strengthening the institutional independence of the NBU, as well as draft laws, were analyzed. Attention is focused on the evolution of the development of the institutional capacity of the National Bank of Ukraine. Attention is drawn to the Board of the National Bank of Ukraine, the Audit Committee of the NBU and their role in the institutional independence of the National Bank of Ukraine. Their powers and formation procedure are described. It is emphasized that the advisory working body of the Council of the National Bank of Ukraine - the Audit Committee of the NBU was created in accordance with the legislation and the principles of collegiality in making management decisions in the central bank. He started his work in November 2016.
The shortcomings of the Law of Ukraine «On the National Bank of Ukraine» regarding the development of the institutional independence of the National Bank of Ukraine have been identified, and proposals have been developed regarding directions for its improvement with the aim of bringing it into line with the Constitution of Ukraine, as well as strengthening the functional independence of the National Bank of Ukraine: set out Art. 74 of the Law of Ukraine «On the National Bank of Ukraine» in the new version, which would provide that the claim is secured by stopping the decisions and acts of the National Bank of Ukraine, and also contained provisions regarding the establishment by the court of a ban or obligation to perform certain actions for the National Bank of Ukraine; to be fixed in Part 1 of Art. 9 of the Law of Ukraine «On the National Bank of Ukraine» list of «other working bodies»; exclude from the Law of Ukraine «On the National Bank of Ukraine» restrictions on the audit examination of the financial activities of the National Bank of Ukraine by independent auditors; to enshrine in the text of the Law of Ukraine «On the National Bank of Ukraine» the powers of the Audit Committee, the procedure for their implementation; exclude in the Law of Ukraine «On the National Bank of Ukraine» the duplication of its norms with the provisions of Part 2 of Art. 78 and Article 120 of the Constitution of Ukraine regarding the restriction, according to which a person cannot be a member of the Council of the National Bank, if he has a representative mandate or is a member of the Cabinet of Ministers of Ukraine, or holds or has held the position of head of a state authority (deputy head) and other state body (if one year has not passed since the date of her dismissal from such a position), or is a person authorized to perform the functions of the state or local self-government; clarification of duties of members of the Council of the National Bank of Ukraine.