In the world to expand the list of assets that can be used in
 refinancing operations as collateral to offer
 use of loans granted by banks to their borrowers.  This
 practice in the provision of liquidity to banks, albeit in limited quantities,
 exists in the Fed and the ECB.  Thus, even taking into account a simple and
 attractiveness of the asset, its use as collateral due to
 central bank with a number of problems that can create essential
 obstacles in the process of refinancing and reduce the effectiveness of
 monetary policy as a whole.  In particular, due to the heterogeneity
 Loans are difficult to compare with each other, the central bank had
 conduct credit rating, to determine their quality, self-
 assess and assume the significant credit risks, which eventually
 may complicate operating procedures and increase
 administrative costs.  Therefore, for the present conditions of
 monetary policy in Ukraine use by banks