The Role of the Central Bank in Ensuring the Financial Stability of the Banking System

Анотація

The article examines the role of the central bank in strengthening the financial stability of the banking system in the context of growing macroeconomic risks, military challenges, and digital transformation of the financial sector. The approaches to assessing the activities of the central bank are summarized, and the instruments of monetary, prudential, and macroprudential regulation are identified. The directions of the National Bank of Ukraine's activities in stabilizing the banking sector are analyzed, in particular, liquidity management, capitalization, currency risks, and the introduction of digital supervision mechanisms. The current challenges to financial stability are outlined – increased credit and liquidity risks, the growth of cyber threats, technological transformation of banking processes, and the impact of external shocks. The importance of developing financial inclusion, the potential of central bank digital currencies (CBDCs), and the creation of an analytical platform for monitoring systemic risks are revealed. Recommendations are proposed for improving regulatory policy, increasing the effectiveness of prudential supervision, expanding macroprudential instruments, and digitalizing risk monitoring. Method (methodology). To achieve the goal, a set of general scientific and special methods was used. The system analysis method was used to determine the relationships between the functions of the central bank, the state of the banking system and the level of financial stability; structural-logical – to generalize theoretical approaches; comparative – to evaluate international experience in the field of maintaining stability and digitalization; economic-statistical – to analyze macroprudential indicators of the NBU's activities; graphical – to visualize instruments for ensuring financial stability, including digital solutions; generalization method – to form conclusions and recommendations on increasing the effectiveness of the NBU's regulatory policy in the context of digitalization. The results. The study confirmed the decisive role of the central bank in maintaining financial stability and economic security of the state. The effectiveness of the integrated use of monetary, prudential and macroprudential instruments to reduce systemic risks was revealed. The importance of digitalization of regulatory processes, development of financial inclusion, introduction of central bank digital currencies and creation of modern risk monitoring platforms was emphasized. Practical recommendations were formulated to increase the resilience of the banking system and improve the NBU's policy in the face of global challenges and technological changes.

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