Questionnaire regarding the National Bank's 2026-2028 Supervisory Strategy Priorities Survey

The National Bank continues the practice introduced in 2020 and is currently working on a new, three-year Supervisory Strategy document, within which the National Bank's supervisory priorities and corresponding activities for 2026-2028 will be determined.

The Supervisory Strategy ensures the accessibility of information on the National Bank's supervisory priorities and plans for the sector, investors, international financial institutions, rating agencies, the public, and other stakeholders and creates an even more transparent working environment.

When determining supervisory priorities, the National Bank considers:

· Primary directions for the supervision and regulation of financial sector activities;

· Recommendations received from international partners and commitments undertaken;

· Analysis of international best practices and trends;

· Opinions and recommendations of the private sector;

· Needs identified under the supervisory mandate, underlying risks and challenges.

The National Bank has reviewed current international trends and the action plans of colleague entities of other countries, in light of which, among the priorities for the forthcoming medium-term period is the management of geopolitical risks, both on the part of the supervisory authority and the participants of the financial system. As well as the issues of operational and cyber risk management, regulation and supervision. Amidst ongoing digital transformation and digitalization, the study and regulation of new technologies including artificial intelligence and machine learning, along with the risks associated with their use remain a significant challenge.

In the process of developing the Supervisory Strategy, it is of fundamental importance to understand the perspectives of the sector and stakeholders, members of the public regarding expectations towards the National Bank's future supervisory priorities and current challenges in general. Accordingly, please share your views on the questions provided below (it is possible to provide your position in response to all or any specific question).

Please note that the National Bank's 2026-2028 Supervisory Strategy is planned to apply only to certain supervised entities of the National Bank, namely, commercial bank, microbank, microfinance organization, credit union, currency exchange unit, loan issuing entity, credit information bureau, independent securities registrar, brokerage company (except for insurance broker), stock exchange, central depository, specialized depository, asset management company, obliged entity, investment fund, authorized securitization special purpose entity and pension fund. For the purposes of this questionnaire, these entities are collectively referred to as the financial sector/financial sector representatives. Regarding individual supervisory directions of the National Bank, strategies tailored to respective entities or directions are prepared independently of this strategy and are published on the National Bank’s website.

Opinions can be submitted no later than January 23, 2026. In the event of additional questions, please contact us via e-mail at - SupervisoryStrategy@nbg.gov.ge.

1.Please indicate the first and last name/name of the organization (unless you wish to remain anonymous):

In your opinion, on which issues should the National Bank focus its attention when developing the 2026-2028 Supervisory Strategy, in order to ensure the stable and efficient functioning of the financial system, the promotion of a competitive environment, the control of systemic risk and the mitigation of potential risks?

Please note that the Supervisory Strategy defines not only supervisory priorities but also the vision, principles, and courses of action through which the promotion of financial system stability, transparency and the protection of consumer and investor rights will be achieved.

To fulfill this task, it is essential to support the development of a sustainable and healthy financial sector that is open to qualified investors, where a competitive environment is ensured and the interests of consumers are protected. The National Bank promotes the efficient functioning of the financial system, as well as the mitigation of systemic and potential risks.

We would also like to remind you that in order to achieve this objective, based on thorough awareness of the sector and risks, the National Bank continuously maintains a systemic view with respect to the supervised sectors. The prudential supervision regime is focused on the sustainable functioning of the overall financial system.

Please name the supervisory priorities and challenges that, in your opinion, the National Bank should take into account during the process of developing the 2026-2028 Supervisory Strategy:

From the perspective of financial sector supervision, the National Bank's objective, as defined by legislation, is to promote the financial stability and transparency of the financial sector and to protect the rights of consumers and investors. Accordingly, the supervisory strategic priorities must serve the fulfillment of this mandate of the National Bank.

In your opinion, on the development/establishment of which specific risk-related/thematic regulatory framework should the National Bank focus its attention when developing its supervisory strategy for 2026-2028?

We remind you that one of the primary functions of the National Bank is to define the main directions for the supervision and regulation of financial sector activities.

Please share with us other issues, which, in your opinion, should be analyzed in the process of development of the 2026-2028 Supervisory Strategy

We remind you that in 2023-2025 the National Bank conducted its activities taking into account the following supervisory priorities:

1. Improvement of financial sector risk management framework and proactive response to outcomes;

2. Promotion of competition in the financial sector;

3. Promotion of financial innovations and development of supervisory technologies;

4. Approximation to international standards;

5. Strengthening of the National Bank’s supervisory function and increasing transparency.

Please share with us additional general or specific recommendations and opinions, in the direction of the development/refinement of the Supervisory Strategy or other relevant directions, in case of their existence.

For additional information, please see the already published Supervisory Strategies.