Balakina Y. Oversight of payment systems in Ukraine

In the PhD thesis, for the first time, were comprehensive studied theoretical, methodological and practical foundations for the payment systems oversight by the central banks and as a result was developed the conceptual foundations for its implementation and realization by the National Bank of Ukraine. In the first chapter is specified the economic essence of the term «payment system» as a scope of oversight, generalized and improved scientific approaches to the classification of the payment systems based on the specifics of oversight different types of payment systems by central bank. Methodical approaches to determination of the essence of the payment systems oversight were deepened, were outlined the origins of payment systems oversight as well as its main instruments, objectives scope, subjects and distinctive features with the regulation of payment systems, banking supervision and financial monitoring. Have been highlighted an important role of the cooperative oversight of payment systems in a maintaining the financial stability and also improved the definition «cooperative oversight of payment systems». In the second chapter is generalized the experience of the payment systems oversight implementation by the National bank of Ukraine, its main common features and distinctive features with other central banks were revealed. As a result of comparative analysis of payment systems oversight features in Ukraine and other countries worldwide the central banks approaches of the payment systems oversight were classified and it was discovered the expansion of the financial market infrastructure oversight function by central banks which merges the payment systems oversight function. Were determined the main features of the payment systems development and activity in Ukraine and outlined the key problems of their oversight by the National Bank of Ukraine. In the third chapter are offered the directions of improvement and development of off-site oversight of payment systems in Ukraine. In-depth methodological provisions and organizational principles for payment systems assessment for compliance with international standards. The methodical approach to payment systems assessment on compliance with international standards is proposed, three types of payment systems assessment and the main stages of their implementation on the basis of rating estimation are determined as well as the actions of the central bank in each stage. On the basis of expanding the composition of the criteria of the importance of payment systems and taking into account the presence of critical participants in payment systems, a methodical approach to assess the priority of payment systems during their oversight has been developed. The practical significance of the results used during elaborating the Regulation on payment systems oversight in Ukraine, scientific conclusions and results of the PhD thesis are used for payment systems oversight by the National Bank of Ukraine.