Under the new practice of refinancing short term
 use of tools liquidity regulation within 90 days, excluded
 concept of stabilization loans canceled the use of currency
 swaps, clearly defined notion of quantitative and percentage tenders
 Tools for refinancing types of collateral
 including foreign exchange, and so on.  It should be noted that the main
 principles refinancing under current conditions should include:
 accessibility, transparency, adequacy situation, operational independence,
 equality of access to all bank instruments, availability and acceptability
 collateral, harmonization and flexibility of use
 tools, providing low-risk and low
 administrative costs.

 Under the new approach is defined as a quantitative tender procedure
 according to which the mechanism of liquidity support NBU advance
 sets the price (interest rate) at which banks can obtain
 refinancing or post in the National Bank funds.  At
 the amount of funds available to refinance or placement
 may be announced or not announced in advance.  In return
 percentage tender - a tender announcement during which banks in their
 application to the Bank note price (interest rate) at which they
 agree to obtain refinancing or place funds in
 National Bank.  From the standpoint of economic theory and practice, and for
 maturities provided liquidity to meet the above
 objectives of the monetary policy of the central bank and its task in
 the management of liquidity [liquidity of the banking system of Ukraine:
 Research and analytics.  Issue.  12 / VI  Mishchenko, AV  Catfish and others.
 - Kyiv: Center for Research Bank, 2008.  - 180 p.].