The National Bank shall issue non-cash credit money

During 1992, the National Bank carried out non-cash credit issue money solely on the decisions of the Verkhovna Rada and the Cabinet of Ministers of Ukraine. First credit (non-cash) to issue national bank made pursuant to the Resolution of the Verkhovna Rada on 05.03.1992, № 2165-XII of the completion of the interbank credit mutual debt of $ 20.0 billion rubles. Pursuant to the provisions of the Verkhovna Rada of Ukraine in 1992, commercial banks had issued loans worth 670 billion rubles, including for working capital of state enterprises and organizations with their subsequent allocation to domestic debt - 292 billion rubles, including 50 billion rub. - To provide credit to agricultural organizations. In December 1992, according to the decision of the Cabinet of Ministers of Ukraine (CMU from 05.12.1992, № 679 and № 682) were first granted emission credits to the Ministry of Finance to finance agriculture and coal mining on the total amount of 329.7 billion rubles. This situation with the provision of non-cash equity loans also continued in 1993. 1993 National Bank made the first attempt to develop main directions of monetary policy, which provided the relevant objectives and mechanisms for its implementation (the main problem of the Ukrainian banking system in 1993 was to overcome hyperinflation and ensure the stability of national currency). But to overcome inflationary pressures in 1993 failed. Index inflation reached 10,255 percent. Thus a situation has arisen as a result of administrative intervention in the activities of the National Bank for the implementation of non-cash issue, while the lack of appropriate and effective regulatory mechanisms and instruments secured control the monetary market. Topic: A PRACTICAL ANALYSIS OF MONETARY ISSUE