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Journal: Herald of Kyiv National University of Trade and Economics (Vol.107, No. 3)

Publication Date:

Authors : ;

Page : 78-88

Keywords : refinancing; refinancing rate; stabilization credit; credit for liquidity preservation; refinancing credit by carrying out the tender; repo; credit auction.;

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Background. Refinancing of banks is the key tool of monetary policy of the central banks for ensuring liquidity of banks during discrepancy of terms of attraction and placement of resources. Especially sharply this problem arises at financial instability. The aim of the article (research) is the analysis of practice of refinancing of banks via the credit channel of NBU, identification of key problems and development of recommendations for its improvement. Materials and methods. In the course of research comparison, tabular, induction and deduction methods were used. Results. Key problems of refinancing of banks via the credit channel of NBU are identified. The complex of recommendations about improvement of refinancing of banks of Ukraine is developed, in particular, it is offered to create effective system of a risk management in the sphere of refinancing of banks; to provide rigid control from NBU of truthfulness of the published standards of liquidity, having changed thus an order of their definition; to give to banks opportunity to form a uniform pool of providing the credits of the central bank. Realization of these measures, in our opinion, will promote timely and full satisfaction of needs of banks for means for liquidity maintenance, and also to their effective use. Conclusion. For the first time it is offered to develop the document "Policy of Refinancing of Banks by NBU" which should be based on the principles of equal tension, target use of priority, selective choice, objectivity, timeliness and transparency. The stated conceptual provisions demand further scientific research in the direction of banks refinancing policy change of Ukraine, in particular, at establishment of standards of credit risk for borrowing banks and effective penalties for inappropriate use of the credits of NBU by banks.

Last modified: 2016-10-27 17:44:47