The reorientation of domestic monetary mechanism of preferential
 use of foreign exchange channel to refinance banks for
 maintain their liquidity, though looks like a necessary measure in a Bank
 crisis, but is perfectly reasonable and logical in terms of
 economic theory and international practice step [Monetary
 transmission mechanism in Ukraine: Scientific analyzes.  Issue.  9 /
 VI  Mishchenko, AI  Petrik, A.  Catfish, RS  Lysenko et al.  - Kyiv: Centre
 Research Bank, 2008.  - 144 p.].  It should be noted that
 subsequent action of monetary authorities should shift from quantitative
 regulation of the use of money market management mechanisms
 interest rates, which would allow access to the transmission system
 mechanism at a higher level of regulation, which is based on the implementation of
 the interest rate channel.

 The specificity of the present stage of the national monetary practices
 remains that there is a direct relationship between the volatility of the exchange
 exchange rate against the U.S. dollar and liquidity of banks.  Thus, the
 should clearly distinguish between two interrelated processes: the loss of bank
 its solvency due to low risk and
 lack of liquidity due to limited resources or deformation
 base.