STATE AND MAIN DIRECTIONS OF STRENGTHENING MONETARY SECURITY OF UKRAINE

The article outlines the place and role of monetary security in protecting the national economy from threats and challenges in the face of financial globalization. A methodological approach to assessing the level of monetary security based on the calculation and monitoring of the system of indicators and comparing them with thresholds is proposed. The monetary and credit security component has been integrated into the main indicators, such as: the share of cash outside banks in the total amount of money, the difference between the interest rates on loans granted by deposit-taking corporations in the reporting period, and interest rates on deposits with institutions, level of weighted average interest rate on loans granted by deposit-taking corporations in national currency relative to the consumer price index, share of consumer loans to households in the total structure of loans to residents, share of long-term loans in the total amount of loans granted, total export of financial resources outside the country. Complex assessment of the level of monetary and credit security of Ukraine for 2014–2018 has been carried out. It has been consistently low in confronting internal and external challenges and threats. The basic directions of strengthening of the monetary system of Ukraine from the positions of the security-oriented approach are offered, the most important of which are: reduction of the share of cash outside the banks in the total volume of money supply, ensuring healthy competition in the monetary market, termination of unproductive capital outflow from the Ukrainian economy. NBU interest rate policy, inflation targeting policy, improvement of interest rate policy, intensification of work on attracting funds of physical persons be long term, preventing the outflow of deposits from the banking system.