New Rules for Accessing Debtor Information
The National Bank of Ukraine is proposing an update to the rules governing access to information protected by banking secrecy. These changes apply solely to individuals listed in the Unified Register of Debtors and will not affect the confidentiality of the majority of Ukrainian citizens. Both public and private enforcement officers will gain access to a broader set of data on these individuals’ accounts, including:
- account types;
- deposit agreement durations;
- outstanding loan balances (in certain cases).
Key Innovations
The proposed amendments also authorize the seizure of bank accounts and electronic wallets belonging to debtors. A notable feature is the automatic lifting of such seizures once small debts are fully repaid, simplifying the process for those who quickly settle their obligations. Additionally, the draft expands the National Bank of Ukraine’s authority to obtain information covered by banking secrecy.
These changes were released for public consultation in late June 2026, aiming to align regulations with the law on digitalizing enforcement proceedings, which takes effect in October 2026. As Serhiy Naumov explained:
“For the average bank client, the bank will not start sharing all information about all customers. For most citizens and businesses, there will be no daily changes.”
The proposed adjustments to debtor information access rules reflect the National Bank of Ukraine’s efforts to improve the enforcement of court decisions. They may encourage timely debt repayment by equipping enforcement officers with necessary tools. Importantly, these innovations will not compromise the data privacy of most bank clients, helping maintain trust in the financial system. Implementation of these changes, in the context of digitalizing enforcement proceedings, could also enhance the efficiency of enforcement officers in the future.
As the National Bank of Ukraine enhances its regulatory framework, it's essential to consider the broader implications of these changes. For instance, the recent ban on anonymous cash transfers via terminals aims to bolster financial transparency and security. This move aligns with the ongoing efforts to modernize enforcement practices and ensure a more accountable financial environment for all citizens.