Melnichenko O. Bank refinancing mechanism in Ukraine

The auther systematized and clarifyed conceptual and categorical apparatus of research and in particular formulated definitions of "bank refinancing" and "bank refinancing mechanism in Ukraine". The features of bank refinancing in Ukraine in modern conditions were identified. The main trends and sources of bank refinancing were described. The theoretical basis of organizational and functional structure of bank refinancing mechanism in Ukraine was developed, and the principles of its organization were highlighted. The scientific approaches to determining the supply and demand of bank refinancing were reviewed. The methodical approach to the definition of bank demand for resource recovery with additional indicators of banking activities was developed. It is proved that refinancing offer could be fully determined on the basis of analysis of all possible sources to attract additional liquidity for banks. The practice of bank refinancing by the National Bank of Ukraine was analyzed taking into account the objectives of monetary policy. Prioritization of using of leverage of bank refinancing for the economic development of the country were identified. Methodical basis for the definition of interaction of currency issue channels and the mechanism of bank refinancing in Ukraine in terms of their impact on macroeconomic indicators were improved. Regression-correlation model of bank refinancing in Ukraine was constructed. The necessity of a harmonious combination of standard and non-standard tools of monetary policy in conjunction with other proposed measures aimed at improving the functioning of the refinancing mechanism in the context of socio-economic development of Ukraine was substantiated.