During the economic crisis, developed countries are by reducing
 refinancing rates to near zero in order to maintain market
 lending.  The level of inflation in these countries is quite
 low, particularly in Japan in 2008 it was 1.75% in the U.S. - 4.22
 % In the UK - 3.78% in the EU - 2.4% even in times of crisis
 loan rates in Europe do not exceed 6-9%
 pa [MV Savostyanenko  Tick.  Work.].  This approach helps
 expand production, increase competition and reduce inflation.

 Unavailability of refinancing in Ukraine led to the outflow of
 banking system and currency appreciation.  Artificially created mistrust
 up rate and, as a result, uncertain prospects have prompted people
 invest in different currencies, even questionable, but not in
 Ukrainian.

 Development of the loan - it is the only way to economic recovery and
 stimulate production.  A powerful tool to promote development
 lending institution is government guarantees.  They are
 most effective way to overcome the crisis of confidence.

umber of country and insufficient loan portfolios required
 for securitization and increasing NPLs, domestic
 banks can not make full use of control mechanism
 liquidity risk.

 In 2009, a major problem is the debt for banks
 budgetary loans.  Loans population in the total loan portfolio
 account for 34%, or 249 billion USD (from 728 billion USD for December 1, 2008
 year) [bank.gov.ua.].  Half of them - the consumer, the rest - a loan to
 buy cars, real estate and land.  Failure to return on bank
 loans this year may reach 20-30% of the total loan
 portfolio, ie banks can nedorahuvatysya 145-218 billion.  USA.  Already
 obvious that a default of the banking system as a whole will not come, but for
 no refinancing National Bank of Ukraine is likely
 default of individual banks.  So refinancing rates are important
 to the domestic banking system

The main risks that threaten the stability of the banking system in Ukraine
 2009 is the return of funds for loans, debentures
 to foreign creditors, fluctuations in exchange rate to the dollar.
 The economic crisis has revealed the presence in the banking sector structural
 imbalance that hinders its development and exacerbates the risks associated with
 implementation of the banking strategy.  These imbalances are gap
 funding of banking operations, liquidity imbalances, currency,
 excess of bank branches.

 In Ukraine, as in most post-Soviet countries, the level of costs
 the level of savings.  This leads to a significant spread
 practice of financing bank assets as liabilities
 deposits with banks.  I must say that the business model of Ukrainian banks
 provided funding for corporate loans by retail
 deposits.  Developing retail banking, banks focus on the
 credit products, which led to a dangerous gap in
 financing: loans covered by deposit only two-thirds.  In
 period of low interest rates in international markets and availability
 funding for this strategy of domestic banks did not create significant
 risks.  But in times of crisis and limited liquidity in global markets
 capital dependence on external financing limits

The reason is clear imbalance in the banking system.  Ebb
 capital of the banking sector in six months is 90 billion
 [MV Savostyanenko  Investment projects of international financial
 organizations in Ukraine / / Proceedings NDFI.  - 2008.  - № 1.  - S.
 128-137.].  If the initial value of the resources laid at 12-15%
 refinancing rate by 12%, it is impossible to expect that the rate of
 commercial bank loan will be lower by 21-25%.  In our opinion,
 refinancing crisis can only solve current problems with
 liquidity through its Timeframes but it does not help banks
 lending to the real economy.

 Experts believe that the need to find a point of sectoral economic
 recovery, where banks could effectively direct its resources, ie
 apply selective policies or elements.  But important for banks
 availability of borrowed and borrowed funds, although the capitalization
 commercial banks in the state budget for 2009 foresees an amount of
 44 billion UAH

 ensure that the financial system necessary mechanisms to guarantee
 and / or insurance refund.

 In our view, the crisis in Ukraine caused by the collapse of the bank is not
 systems are imperfect economic transformations that can be corrected with
 using anti-crisis measures.  This latter should be transparent
 and understood by the public and businesses to avoid prevailing opinion that the decision
 adopted for specific financial group or bank.

 To overcome the crisis must take several decisions to support credit
 markets, focusing on issues of renovation interbank market
 credit institution of government guarantees and reduced National Bank
 refinancing rate.

 It should be noted that the current crisis is one of the largest in history.
 The elimination of its consequences has allocated 9.4 trillion dollars.  U.S. is
 15.2% of world GDP [MV Savostyanenko  Investment Projects
 international financial institutions in Ukraine / / Proceedings NDFI.  -
 In 2008.  - № 1.  - S. 128-137.].  Measures to combat
 global crisis taking it all covered countries, each according to
 their capabilities.  As the economy of each country has its own
 characteristics, ways of overcoming the crisis must be to some extent
 unique, although some measures are relevant for all countries,
 including the use of credit for economic recovery potential.

 Anti-crisis measures and instruments also differ due to different understandings
 nature of the crisis.  For example, in Ukraine it is considered primarily as a crisis
 liquidity, although we believe that it should be seen as a crisis
 confidence.  To solve the problem, we must first crisis of confidence

 It should be noted that foreign loans and domestic investment
 economy will be effective subject to certain requirements of Ukraine.
 It is the presence of an appropriate legislative framework for foreign loans
 and investment, effective programs targeted use of funds
 appropriate level of government regulation, taking into account the specific relationship
 between-subjects.

 At present, statistical and economic research scientists worldwide
 to combat the economic crisis, and because of its progress in
 different countries have national specificity, Ukrainian scientists work and
 on this problem.

 In order to develop effective measures to combat economic and financial
 crisis, special attention should be paid to the role of credit and
 investment, and the main problem of Ukraine concerning the formation
 anti-crisis measures.  It should be emphasized that in order to overcome the economic
 crisis in Ukraine should first encourage national
 production by enhancing cooperation between our state and international
 organizations.  By the way, today is the issue actively studied
 domestic scholars and practitioners.