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The article discusses problematic aspects of the legal regulation of credit agreements in Ukraine, which are an important element of the stability of the financial system. The shortcomings of the legal framework are highlighted, including the insufficient protection of consumer rights in credit services, the lack of transparency in lending terms, and the absence of integration into international standards. Attention is drawn to gaps in the regulation of various types of credit: consumer, banking, commercial, state, tax, and international credit. The legal framework is analyzed, including the Law of Ukraine «On Consumer Lending,» with its deficiencies identified, such as the lack of clarity regarding consumer lending conditions by non-banking institutions. The authors note that many consumers face hidden fees and fines that contradict national legislation. Particular attention is paid to international standards, such as the principles of the UN General Assembly Resolution on Consumer Protection, as well as the experience of foreign countries in implementing innovative forms of lending (P2P lending) and creditworthiness assessment systems (CIBIL). The need for creating conditions for integrating these practices into Ukraine is emphasized to improve the accessibility of credit services. Implementing such mechanisms would reduce the financial burden on consumers and promote the establishment of transparent and clear rules of interaction between creditors and borrowers. The article also proposes ways to integrate international experience into the national legal system to strengthen the protection of the rights of all participants in credit relationships. The authors propose improving Ukrainian legislation by developing a unified legal act that would regulate all types of credit, ensure the transparency of contract terms, and protect the rights of all parties involved in credit relationships. It is concluded that the integration of international standards and simplifying access to credit services will reduce financial risks, foster the development of the financial system, and improve the efficiency of the credit system in Ukrain e. [ABSTRACT FROM AUTHOR]

In current environment, external borrowings have a significant impact on the domestic economy. On the one hand, they are an important tool for the development and stabilisation of Ukraine's economy, as, if used rationally, they will help maintain budgetary stability and implement the necessary reforms. On the other hand, such borrowings may pose certain risks in the form of an increased debt burden, dependence on creditors, and even a threat to financial independence. For Ukraine, this issue is of particular relevance. Sources of external borrowing include various entities, including: The International Monetary Fund (IMF), the European Bank for Reconstruction and Development (EBRD), the World Bank, individual states, etc. The overarching processes of globalisation are leading to an increase in the economic and political interdependence of states. The presence of external debts affects not only the economic component but also the social sphere. In recent years, Ukraine has been experiencing an upward trend in its external debt. External debt affects debt security, and thus economic and national security in general. The main reasons for the emergence and growth of Ukraine's public debt include the state budget and balance of payments deficit. Yes, borrowing is tangible and helps to balance the state budget, but it should be noted that this is a temporary measure. In the future, constant borrowing will only increase the debt burden. This leads to negative consequences for the population, in particular in terms of increased taxation. It should be noted that external debt requires repayment, which means regular payments from the budget. The need for such payments causes a shortage of funds for the country's development and a reduction in funding for relevant government programmes. This suggests that a rational plan for repayment should be developed to minimise the impact of negative consequences on the financing of state development. In addition, the use of borrowed funds should be strictly controlled and used exclusively for the necessary needs. Debt repayment will help create conditions for economic growth, restore confidence in the financial system, attract foreign investment, etc. [ABSTRACT FROM AUTHOR]

Financial stability is one of the key conditions for sustainable economic development of the country. The banking system plays an important role in ensuring financial stability and development of economic structures. However, banking activities are associated with certain risks that may negatively affect financial stability and economic development. The analysis of banking risks in the context of financial stability and development of economic structures in Ukraine is an urgent issue for research. The article is devoted to the analysis of banking risks in the context of financial stability and development of economic structures in Ukraine. The importance of the stability of the banking system for the country's economy is noted, and it is emphasized that the analysis of the financial condition and risks is a key element of the management of a banking institution. The article highlights the results of research by domestic scientists on banking risks and considers the classification of risks according to the methodology of the National Bank of Ukraine. The main focus is on credit risk, which is considered in the context of changes in the economy, the use of credit in enterprises and households, global financial markets and modern technologies for its assessment and management. The article aims to emphasize the importance of credit risk analysis in the context of modern challenges and opportunities in the banking sector of Ukraine.

The article examines the structure and mechanism of leasing operations. The factors influencing the spread and development of leasing are analyzed, and the balance of interests of the participants in the leasing agreement is reflected as fully as possible. The features of leasing financing in Ukrainian agricultural business are formulated. Financial leasing schemes in the activities of agricultural companies are considered. The possibilities of combining the leasing mechanism with other financial instruments to increase its efficiency have been studied. The prospects for the participation of leasing financing in the agricultural sector are substantiated. The main directions for increasing the efficiency of agricultural companies in leasing operations are formulated. Provisions are proposed for the use of leasing as an effective tool in agricultural business, taking into account the specifics of the industry. [ABSTRACT FROM AUTHOR]

Purpose. The main purpose of this research is to assess the factors affecting the gross agricultural products in Azerbaijan in the short and long term. Methodology / approach. This study uses an Autoregressive Distributional Lag (ARDL) model to analyse the relationship between gross agricultural output and total government expenditure on agriculture, the volume of credit used in agriculture, direct investment in fixed assets in agriculture, and the country’s net agricultural exports. In our study, unlike most existing research, the variables are integrated in the second order, which increases the importance of this study. Results. The results of the study indicate that, despite the “crowding in” effect created by the state budget expenditures as the main factor in the short term, the effect on the growth of gross agricultural products in the long term is not so important. Credit resources and net exports have a negative effect in this relationship. In the long term, investment in fixed capital is a crucial factor in the growth of production. In general, the positive balance of net exports is a “mirror” reflection of investments, especially innovation-oriented investments. Considering that the predominance of imports in the total demand for agricultural products significantly reduces the multiplier effect that can occur in the field in general, it minimises the multiplier effect of the total expenditure. From this point of view, foreign investments can play an important role in creating a positive balance in the trade balance of agriculture. Originality / scientific novelty. The scientific value of the research is the selection of main factors as direct contributions to the growth of the gross agricultural products and their effects. Through the ARDL program, we determined what factors are short-term and which are long-term, and we analysed the causes and consequences of these dependencies and put forward relevant proposals. Practical value / implications. The practical value of the research lies in the given proposals that can directly affect the net export of agricultural products and create positive changes in its balance. Because, massive investments, especially foreign investments, can modernise the rural economy in a short period of time and, accordingly, not only increase the competitiveness of its products in foreign markets, but also raise the level of self-sufficiency.

The article examines the financial and credit infrastructure of agriculture and the credit mechanism as elements of the financial and credit systems of the state. The institutional and functional structures of the financial and credit infrastructure of agriculture are analyzed. The trends, problems and features of the formation and functioning of the credit mechanism of the agro-industrial complex are considered. Recommendations for improving the credit mechanism of the agro-industrial complex have been formulated. Methodical approaches to forms of agribusiness lending are proposed and a description of certain types of lending, most acceptable for enterprises in agriculture, is given. The need for the formation of special lending mechanisms for agricultural production enterprises, adapted to the specifics of the industry, has been proven. [ABSTRACT FROM AUTHOR]

The article examines the stages of the historical formation of the credit market of Ukraine. The entities of the credit market of Ukraine are graphically displayed and described. The concept of "credit market" is detailed and formulated. The main functions of ensuring the normal functioning of the credit market of Ukraine are defined, in particular such as: market function, financial function, general-specific function. The structure of the credit market is analyzed, consisting of such main components as: borrowers, creditors, credit products, financial instruments, regulation and state supervision, risks and components of the credit market. The influence of institutional factors on the development of the credit market of Ukraine, which includes the following components: legislation and regulation, institutionality, competition, information infrastructure, political and economic structures, digital initiatives and fintech innovations, and international integration, was studied. The components of the strategic development of the credit market as a result of the implementation of innovative transformations are structured, represented by such elements as: creation of digital marketplaces, innovative transformation, segmentation of participants in credit relations, stimulation of demand for financial innovations, establishment of growth rate standards for credit innovations, creation of innovative infrastructure, creation of an innovative ecosystem and modernization. The financial stress index of the credit market of Ukraine for the period 2013-2023 was determined and its dynamics were analyzed. Changes in production volume and company income are shown graphically, and how this affects the credit market is presented. The debt of non-banking financial companies is calculated and presented, and their role in the development of the modern credit market is determined. The market of real estate and mortgage lending is studied and their role in modern credit trends is reflected. The debt and credit burden on households was analyzed. The credit risk indicator is structured and its role in the planning of new types of credit products is highlighted. The dynamics of credit resources attracted by non-bank financial and credit institutions for the period 2013-2023 are reflected. The main types of risks of the credit market of Ukraine are presented and the role of risk management in solving problems related to risky operations of credit institutions is defined. [ABSTRACT FROM AUTHOR]

This study scrutinizes Ukraine’s debt security amidst internal and external challenges, including war impacts and geopolitical shifts. It dissects the escalation of national debt and its configuration, focusing on repercussions for the economy and national equilibrium. Recommendations are proposed for expediting economic growth, refining debt administration, and equilibrating the debt acquisition framework. Background: From 2009 to January 2024, Ukraine witnessed its state debt mushroom from UAH 316,884.6 million to a staggering UAH 5,154.47 billion. Notably, external liabilities constituted 64.72% of this quantum. Key Findings: The ongoing conflict and geopolitical dynamics have substantially magnified Ukraine’s debt load, casting shadows on economic steadiness and sovereign integrity. There’s an urgent call for debt administration enhancements to lighten the fiscal load and bolster sustainability. Recommendations: Propel economic advancement to boost state revenues, thus diminishing the debt-to-GDP quotient. Refine debt governance through debt portfolio restructuring and maturity prolongation. Harmonize the borrowing mix by elevating the proportion of internal debt, simultaneously diminishing external borrowing dependency. Conclusion: Upholding debt security emerges as a pivotal factor for Ukraine’s fiscal stability and national safeguarding. Through the execution of these advisories, Ukraine aims to alleviate its debt pressure, augment credit standing, and navigate towards enduring progress. [ABSTRACT FROM AUTHOR]

The article highlights the theoretical and practical foundations of lending to domestic large enterprises. The main types of the bank lending to corporate clients are allocated and characterized. It is noted that in the process of lending relations, representatives of large businesses are offered a fairly wide range of loans and the related services, namely: term services, investment loans, loans for current activities, promissory notes, commercial mortgages, acceptance and guarantee loans, financial leasing, factoring, forfaiting. Based on the carried out analysis of the dynamics of bank credit investments in the economy and the development of large enterprises in Ukraine, it was concluded that loans granted to large enterprises during the research period make up about a third of the total volume of all loans received by economic entities. The carried out assessment of the dynamics and structure of loans granted to large enterprises in terms of repayment terms indicates the predominance of short-term loans for the period under study. On the basis of the carried out research, conclusions were drawn and specific proposals were made regarding the improvement of the process of lending to large enterprises, which include: the implementation of effective national and regional programs for lending to large enterprises, as well as the creation of programs for reimbursing or subsidizing interest rates on loans; application in the process of bank lending of detailed target segmentation of customers, taking into account the field of activity, seasonality of production, financing model; creation of opportunities for concessional lending to enterprises by means of the development of new banking products aimed specifically at the target borrower, offering, in parallel with lending, service for management of enterprise profit and the provision of financial consulting services to minimize potential risks of the borrower.

Credit by its nature is a classic economic category which has been already researched in considerable number of scientific works. However, multi aspects character of credit and credit relations in general, its constant transformation in society lead to increased interest concerning cognition of this definition by scientists, Credit relations, as well as money relations, as of today penetrate the whole society and its economic sphere. Actually, credit is one of the movable forces of the country’s economic development. Importance of money-credit relations within economic system of the state and its further functioning stipulates increase of scientific interest of peculiarities arise study and credit development as an economic category. Objective of the article is defining types of credits, their systematization and classification by definite peculiarities. Within the article, main types of credits were analyzed, which can be defined as of today by analyzing of the peculiarities of credit relation functioning and development. Classification of all types of credits was implemented on account of the main peculiarities identification, to the number of which the following were related: under the order of provision, under creditor character, or by the character of the borrowers and by the terms depending on the crediting object, under percentage rate, by means of funds issue and by branch direction of credit, under risk level, by means of credit remuneration and credit payment, at presence of collateral. Combined, all defined peculiarities and relevant types of credit, shall create integrated system of credits classification, which at the present moment comprises the most known and distributed their types. As any other object, system of credits types is constantly in the process of its dynamic development. Transformation of the state’s economic state, change of political configuration of the society development and other exogenous factors stipulate as well continuous change of credit system itself, search and creation of new mechanisms of credits submission by different types of credit institutions, etc. As it is presented by experience of credit market development of Ukraine, it is in continuous state of its dynamic development, and difficulties arise in development of some financial institutions is being changed by activation and rapid development of other credit institutions. Thus, system of credits types classification is constantly being added by new types of credits and relevant peculiarities, under which they can be studied and separated as a single group. [ABSTRACT FROM AUTHOR]

The theoretical foundations of the development of an agricultural enterprise as a subject of credit relations are considered. The important function of bank credit in the development of small agribusiness is substantiated. The activities of commercial banks in providing credit resources to agricultural enterprises are analyzed. Attention is focused on the factors influencing the financial needs of agricultural enterprises and the need to provide them with credit resources is shown. The criteria for determining financing for small agricultural enterprises are substantiated. The reasons slowing down the provision of loans to agricultural enterprises are formulated. Risk factors in lending to small agribusinesses are analyzed. Priority directions for providing credit to agricultural enterprises by commercial banks are proposed. [ABSTRACT FROM AUTHOR]

The article considers the main theoretical aspects of providing credit services in the conditions of digitalization of the economy. The purpose of the article is to deepen the theoretical foundations of management of the quality credit services provision and the formation of a credit mechanism in the context digitalization. The peculiarities of the implementation of digital marketing and Internet banking in the process of credit services by financial institutions have been considered. The chronology of the development of Internet banking in the field of credit relations has been studied and the specifics of the introduction of digital technologies by domestic banks has been analyzed. The key tasks of transformation of existing credit mechanisms on the basis of digitalization have been identified. It has been substantiated that the credit mechanism in the conditions of digitalization of the economy is an effective lever of influence on the process of interaction of individuals and legal entities with banking and parabanking institutions based on the digital technologies using. The theoretical aspects of the formation of state policy in the field of implementation of the credit mechanism in the context of digitalization have been considered. It has been noted that special attention should be paid to the instruments of the state financial and credit policy in connection with the development of digitalization and the introduction of innovative digital technologies in the process of providing financial and credit services, since the state is the key factor influencing the formation of the digital economy. A methodology for evaluating the effectiveness of the credit mechanism on the regional market of digital credit services has been proposed. The specified method of assessing the effectiveness of the credit mechanism is focused on aspects of the functioning of the digital economy, characterized by complexity and consideration of influencing factors. [ABSTRACT FROM AUTHOR]

The goal of the formation of a modern mortgage system in Ukraine is to create an effective market mechanism based on attracting long-term financial resources to the financial and credit sphere and ensuring the functioning of the long-term mortgage market using modern market infrastructure and financial instruments. Under such conditions, it will contribute to solving the following tasks: attracting domestic and foreign investors to the long-term financial resources of the Ukrainian economy; increasing the solvency of the population and solving housing problems; activation of the real estate market; development of the stock market and the market of financial services, including the banking and non-banking sectors, to stimulate the development of the national economy, especially the construction economy and related sectors of the economy and agriculture. Mortgage loans are provided on a long-term basis. A mortgage loan is possible only if the land and real estate are privately owned. This allows landowners to finance the additional purchase of plots of land, and entrepreneurs to increase production. So, a mortgage loan is a method of obtaining a loan (the so-called mortgage loan) by using immovable property (mainly land and real estate) as collateral, which has its own characteristics. First, with a pledge (mortgage), land and real estate remain in the possession and use of its owner. Secondly, a special civil legal system has been created, which is regulated by law. Thirdly, unfulfilled obligations are repaid at the expense of the subject of the mortgage. It is also worth noting that the essence of a mortgage is most fully reflected in its principles: payment, differentiated nature of loans, timeliness of repayment, etc. They ensure the harmonious functioning of the mortgage mechanism and represent the rules of conduct of all market participants in their activities. Demand, supply, market prices and competition are key factors that determine the situation on the mortgage market in Ukraine and the world. In developed countries, demand in the housing market is balanced by large volumes of construction, and although the costs of developers are increasing, prices are almost unchanged due to fierce competition. The volume of lending to households in Ukraine according to the target direction for the period of 2018-2022 shows an upward trend. The total volume of loans granted to households increased from UAH 201,102 million. in 2018 to UAH 221,105 million. in 2022, which is 10% growth. Consumer loans occupy the largest share in the total volume of lending to households. In 2018, their share was 75.4%, in 2022 - 85.3%. In 2022, the volume of consumer loans decreased by 13% compared to the previous year. The volume of loans for the purchase, construction and reconstruction of real estate in 2018-2022 shows an unstable trend. In 2020, the volume of such loans decreased compared to the previous year, in 2021 - increased by 25.5%, and in 2022 -decreased by 11.9%. The volume of other loans in 2018-2022 shows an upward trend. In 2022, the volume of such loans increased by 121.4% compared to 2018. Mortgage loans make up a small share of the total volume of loans. In 2022, the share of mortgage loans in the total amount of loans was 10.6%. Therefore, in the structure of crediting, there is a tendency to increase the volume of consumer lending and decrease the volume of mortgage lending. This is due to the fact that during the martial law, banks began to provide less credit to the population due to the high probability of default. Mortgage lending mechanisms implemented by banking institutions are currently represented by lending programs for citizens who invest funds in real estate on the terms of equity participation or purchase ready-made housing on the primary or secondary markets. The state program "eOsel" at the rate of 3% per annum can be used by military personnel under contract - defenders of Ukraine, security forces and their family members, medical workers, pedagogical workers, scientific and scientific-pedagogical workers. War veterans, participants in hostilities, IDPs and citizens who do not have their own housing larger than the standard area can get a loan for the purchase of housing at the rate of 7% per annum. According to the results of the study, it can be stated that many factors, including the unstable economic situation in the country, the low standard of living of the population in most of Ukraine, the process of immigration for the purpose of earning, the high cost of housing and the increase in demands on banks do not contribute to the popularization of mortgage loans in Ukraine among the population. A prerequisite for the further development of mortgages as a form of attracting financial resources is the activation of mortgage lending, which will solve many of the country's socio-economic problems. First, ensuring the prospective development of housing construction. Secondly, solving the problems of lending to agro-industrial complex enterprises. Thirdly, promoting the general economic reform of the country. [ABSTRACT FROM AUTHOR]

The article systematizes the interpretation of the concept of "consumer lending" by various scientists, scientists and state institutions. On the basis of the presented interpretations, the author's definition of the concept of consumer credit is proposed. Subjects and objects of consumer lending are defined. The analysis of the legislative framework in the field of consumer lending is presented. The main shortcomings regarding the legislative regulation of consumer credit activities and the lack of a clearly defined concept of consumer credit are outlined, different normative acts give different interpretations. The classification of consumer lending is provided, as well as the structured positive and negative sides of consumer lending. The reasons leading to consumer lending problems in Ukraine are identified and graphically presented. The main types of consumer lending in Ukraine are analyzed. Five main stages of the development of consumer lending in Ukraine are highlighted. Bank and non-bank financial and credit institutions are defined, their role in the work of the credit market is highlighted, common and distinctive features between banks and nonbank financial and credit institutions are grouped. The main problems faced by the consumer lending market in Ukraine are analyzed and directions for their solution are determined. A regional breakdown of the number of consumer loans granted was carried out and presented, the regions with the largest number of consumer loans issued were determined, and the reasons were analyzed, taking into account regional characteristics and the attractiveness of the regions to maximize consumer lending and fair distribution of credit quotas during scoring. Ways to solve this uneven distribution of the number of issued consumer loans are indicated, and recommendations are given for state regulation and control of this situation. A set of features arising from the peculiarities of the field of consumer lending is formed, and the main tasks of the development of consumer lending are presented. Statistical data on consumer lending provided to individuals by banks according to repayment terms are given, and the results are evaluated. The interest rates for loans to individuals according to the target direction are given and the relevant recommendations and conclusions are described regarding the regulation of interest rates for various types of consumer lending. [ABSTRACT FROM AUTHOR]

The relevance of this study is determined by the fact that financing is a key element of the effective economic activity of agricultural enterprises and the industry as a whole, its food security and the restoration of the work of agricultural enterprises, especially amidst a full-scale war and in the post-war period. The purpose of this study was to investigate the relationship between the obtained net profit (loss) and the sources of financing of agricultural enterprises of Ukraine for 2014-the first half of 2023. The study used general scientific methods (analysis of the dynamics of the volume of financing sources (equity, loans, capital investments, state aid, and deposits), analysis of the net profit of agricultural enterprises, formation of the structure of financing sources, determination of growth rates of indicators), and specific research methods (correlation analysis and multivariate regression method). The authors of the study suggested using the method of correlation-regression analysis with further forecasting of indicators using Chaddock’s tables, Fisher’s and Student’s tests. The correlationregression analysis established that a decisive share in financial support is own capital, while the smallest share is state aid. But in connection with the full-scale war in the country and limited own resources, the authors of the study proposed to involve bank loans and state aid more widely in their own economic activities. A correlationregression analysis was developed to identify the dependence of the financial results of agricultural enterprises (net profit (loss)) and their sources of financing for 2014-2021, a regression equation was developed, and a forecast of the possible net profit (loss) of agricultural enterprises for the future period of 2023-2027 was made. The practical value of the findings is that these results can be used by the host activities of the agricultural enterprise of Ukraine and during the development by state bodies of the Strategy for the Development of the Agricultural Sector and their support programs

În prezentul demers științific este analizat obiectul juridic special al infracțiunilor prevăzute la art.238 din Codul penal al Republicii Moldova. Se arată că obiectul juridic principal al infracțiunilor prevăzute la art.238 Codul penal al Republicii Moldova este raportat la fapta prejudiciabilă. În opoziție, obiectul juridic secundar este raportat la urmarea prejudiciabilă. La identificarea conținutului obiectului juridic principal al infracțiunilor prevăzute la art.238 Codul penal al Republicii Moldova trebuie să se țină cont (i) de calitatea victimei acestor fapte penale și, implicit, (ii) de sfera lor de activitate. Se relevă că, întrucât obiectul protecției penale este opus faptei infracționale, la determinarea obiectului juridic principal al infracțiunilor prevăzute la art.238 Codul penal al Republicii Moldova, trebuie să se puncteze pe ordinea legală de obținere a creditului, a împrumutului, a despăgubirii sau a indemnizației de asigurare. Se demonstrează că în ipoteza dobândirii prin înșelăciune a despăgubirii sau a indemnizației de asigurare făptuitorul, de facto, atentează asupra patrimoniului victimei drept valoare socială fundamentală. Se relevă că obiectul juridic secundar al infracțiunilor stipulate la art.238 Codul penal al Republicii Moldova reiese din conținutul obiectului juridic generic al infracțiunilor contra patrimoniului.

The article analyzes modern methods for assessing the efficiency of use of leasingas a means of updating the fixed assets of an enterprise. It is noted that the use of a loan is generally more appropriate if the collateral that the borrower wants to own at the end of the term retains its value after the term of the transaction. Leasing should be used for property that depreciates rapidly, such as high-tech products, and does not retain its value at expiration. It is shown that in order to make economically sound decisions, it is advisable to analyze a leasing agreement as an investment project. It is argued that the most effective method for assessing the efficiency of a leasing agreement is an approach based on assessing the efficiency of leasing compared with an alternative tool for raising funds for the acquisition of property, for example, with a loan. It is shown that the efficiency of a leasing agreement can be determined by comparing the total amount that will be paid to the lessor with the price of the leased asset itself, which could be bought for cash or on credit. The necessity of taking into account tax and other benefits provided for leasing operations is noted. It is argued that the analysis of the efficiency of leasing operations should be carried out taking into account both NPV and IRR by using an integral indicator of the efficiency of investing funds in the acquisition of fixed assets. The key differences between leasing and credit are analyzed. It was shown, that the main methods for assessing the effectiveness of a leasing transaction, which are compared with the acquisition of property through a bank loan, include: comparison of the internal rate of return of a leasing and credit transaction, comparison of discounted cash flows for leasing and lending, comparison of the lease rate with bank interest, comparison of payback periods of both investments, comparison of profitability of leasing and credit agreements.

The article reveals the essence of the concept of credit as an economic category, its forms, types and principles. The essence of the credit policy of banking institutions is defined, the credit operations of banks at the current stage of the economy are characterized, and the current state of the credit activity of Ukrainian banks is analyzed. The development of the financial services market in the conditions of the global financial crisis is analyzed. The problems and prospects of the development of the credit services market in Ukraine have been identified. The choice of credit strategy by banks of Ukraine was studied. The main problems of banks' lending activities are summarized and practical recommendations for overcoming them are provided. Ways to improve the credit process of commercial banks are predicted. Global practice proves that credit and credit operations permeate all spheres of society and contribute to the development of the country.

The peculiarities of business lending in wartime are analyzed in the article. It is determined that crises always have a great impact on business. The crisis affects both negative and positive factors for business development simultaneously. It is found that the war made many adjustments in the national business functioning. The war factor contributes to the significant transformation of national business. It is determined that lending is one mechanism for national companies to provide support. The top-5 largest banks that provided loans to legal entities in Ukraine in 2022 are presented. The dynamics of loans number granted by banks to business entities in 2022 is presented as well as the dynamics of net loans granted to business entities in 2022. The dynamics of the corporate debtors' working loans and loans provided under the state program "Affordable loans 5-7-9%" is shown. Working corporate loans and realized products (services) in the zone of active military operations in 2022 are presented. It is revealed that the very first stage of changes in banking activity took place in the soft loans market. The structure of concessional loans issued for national business by state and private banks under the state program "Affordable loans 5-7-9%" in 2022 is analyzed. The average amount of the concessional loans issued under the state program "Affordable loans 5-7-9%" for different banks is compared. It is determined that the average amount of the preferential loan by banks amounted to UAH 2.83 million. JSC "Ukreximbank" took the leading position in issuing soft loans for national business (UAH 7.28 million). Since the beginning of the war, banks have issued concessional loans in the amount of more than UAH 36.50 billion to support national business, their total amount is UAH 126.00 billion. It is determined that the country's banking sector is operationally profitable. The presence of a risk of the overall profitability loss due to the urgent need to form reserves is revealed. Therefore, the main factor affecting the reduction of banks' capital is the presence of credit risk. [ABSTRACT FROM AUTHOR]

The article analyzes trends in bank lending in Ukraine during the period of martial law, focusing on payments on existing loans and receiving new loans. It examines the share of non-performing loans provided to economic entities and identifies an increase in their share during martial law. The article considers the conditions for introducing "credit holidays" and investigates debt restructuring methods such as deferral of payments, writing off part of the borrower's debt, and reducing the interest rate. The article also identifies vectors of state business support, including business lending during wartime and a grant program in Ukraine. The terms of the "Available loans" 5-7-9% program are examined, as well as the number, volume, and structure of credit agreements made under the program. The article notes that businesses have actively participated in the program, demonstrating a willingness to adapt and develop. State banks have played a significant role in the program, making up more than 80% of the total number of contracts. The article also clarifies the conditions for providing state grant support in Ukraine, investigates types of grants from the Erobota program, and identifies the main problems in the field of banking lending to businesses and their consequences for the Ukrainian economy. [ABSTRACT FROM AUTHOR]

Increasing the investment activity of enterprises requires improving the use of their existing opportunities to financially ensure the implementation of planned investment programs. The article is aimed at improving the theoretical bases for substantiating the structure of sources of financing the investment programs of enterprises in the process of developing their financial and investment strategies. The main tasks that should be solved in the development of a substantiated strategy for financing the investment program of enterprise are determined. A substantiation sequence of the structure of sources of financing of this program is proposed. At this, the sequence involves taking into account restrictions on the amount of borrowed financing of investment projects, which makes possible to maintain an adequate level of financial stability of economic entities. A methodology of surveying the owners of an enterprise about the share of their profit that they will agree to invest in the development of their enterprise upon the condition of a certain profitability of such investment, is presented. A mechanism for recalculation of shares of the owners of enterprise in its share capital after the implementation of the planned investment program is elaborated. Prospect for further research in this direction is to increase the number of types of sources of financing that are taken into consideration in the development of a substantiation sequence of the structure of sources of financing of the investment program of enterprise. In particular, it is necessary to evaluate the possibilities of using the attracted sources of financing of investment programs, that is, contributions of third parties to the share capital of enterprises.

The key problems that hinder the intensification of attracting long-term deposits of the population in Ukraine are identified: low demand of individuals for long-term deposits; a set of factors that prevent the intensification of long-term lending and reduce the demand of banks for long-term deposits of the population; imperfection of the current mechanism of the State-based regulation of banking activities. As part of the solution to these problems, a number of recommendations proposed were aimed at: increasing the level of financial inclusion; resumption of the possibility of early termination of bank term deposit agreements on the initiative of the depositor; abolition of personal income tax on income in the form of interest for deposits of the population for a period of more than 1 year; gradual increase in the guaranteed amount of reimbursement on deposits of individuals; increasing the level of public trust in banking institutions and the regulator; stimulating the population’s tendency to save by means of reducing inflation to the target indicator; reduction of the share of non-performing loans in the bank’s portfolio; gradual curtailment of the practice of providing banks with long-term refinancing in order to reorient the latter to attract long-term deposits of individuals; change of the conditions of the governmental program «Affordable loans 5–7–9 %»; increasing the availability of loans for the purchase of housing within the framework of the governmental program «Affordable mortgage 7 %»; development of additional mortgage crediting programs focused on the purchase of housing in the primary market; differentiation of obligatory reserve of attracted funds depending on the maturity; normative establishment of the share of long-term deposits of individuals in the total amount of bank deposits of the population; normative establishment of the share of assets of banks invested in government bonds (OVDPs).

The revenue part of the banking institution is formed mainly due to the volume of credits provided and depends on the conditions of crediting the financial services market participants. Consequently, the insufficiency or inaccessibility of credit resources adversely affects the status of the entire economy. The article is aimed at an economic and statistical analysis of the current status of credit activity of the banking system of Ukraine in the dynamic conditions of development of the national economy, identifying tendencies, substantiating the prospects for expanding and reducing the risks of credit activities of banking institutions. The role and tasks of the bank’s credit operations in the country’s economy are considered; the status of the credit portfolio of the banking system in recent years is characterized; a new redistribution of banks to groups by the structure of authorized capital and the size of assets is provided. An analysis of the volumes and structure of the banks’ assets in terms of organizational and legal forms of ownership (public, private, foreign) and the proportion of credits in the structure of assets is carried out. The authors analyze changes in the total volumes and dynamics of crediting in terms of: crediting entities; national and foreign currencies; dynamics of the exchange rate and the structure of crediting by type of activity. The impact of seasonality of credit provision is identified. An assessment of the number, structure and volumes of crediting by non-financial credit institutions is provided. The predictive models are developed using different mathematical functions and statistical methods. As a result of the carried out SWOT-analysis, the main problems and shortcomings of the banking system are identified. A project of recommendations on reducing credit risks is proposed.

Banking business in today's realities is one of the most dynamic effectively progressing spheres of the economy. In current conditions, a situation has developed in Ukraine in which the main activity of the bank, which can really provide a profit, is credit activity. However, the implementation of this activity is accompanied by significant risks. This, in turn, determines the importance of the formation of effective decision-making systems in banking institutions regarding the loans issuance to economic entities. The outlined causes the need to conduct new scientific research directed to the efficiency increase of the credit activity of banking institutions, ensuring the quality of credit management. Within the article, the essence of the "bank credit management" category is substantiated, which is carried out based on the approaches analysis to considering this definition formed in the scientific literature, the study of the content of such categories as "credit" and "management". As a result, the author's understanding of the content of the bank's credit management is proposed, namely: bank credit management -- a separate component of bank management, a complex system of methods, tools, rules and norms used by employees to carry out credit activities by a banking institution based on the established basic principles of its implementation, and ensure financial stability of the bank, rational use of available financial resources and receiving profit. Within the article, basic substantive characteristics of the specified category are singled out, the features of the credit management formation by various economic entities, including enterprises, which do not provide financial services, are analyzed. The results of the analysis of the conducted research made it possible to determine and describe the role of the bank's credit management in the development of the banking activity, establish that this activity is leading from the point of view the formation of income and profit of these institutions in Ukraine. [ABSTRACT FROM AUTHOR]

Abstract. The purpose of the article is to identify the main factors that constrain lending to enterprises of the agro-industrial complex of Ukraine, to suggest ways to improve their lending system. A systematic approach was chosen as the methodological basis of the study, which provides for a comprehensive study of the bank lending system of the agro-industrial complex. Historical and structural-functional approaches were also used in its analysis. Methods of comparative analysis were used to consider some problems of bank lending to the agro-industrial complex. Of the general scientific methods in this study, methods of analysis and synthesis, induction and deduction were used. The article examines the dynamics and structure of loans to the agro-industrial complex in Ukraine for 2015—2020; the dynamics of interest rates on loans to the agro-industrial complex and the dynamics of agricultural production by UAH 1. credit provision of the agro-industrial complex in Ukraine for 2015—2020. During the analyzed period, these indicators increase or decrease proportionally, as evidenced by the importance of the efficiency of credit support of the agar sector. In 2020, the efficiency of credit provision of the agricultural sector amounted to UAH 11.64, which is UAH 0.4 more than in 2015. The analysis revealed that the agro-industrial complex today has a high need for financial resources. The characteristic of the main problems of the mechanism of crediting of an agro-industrial complex is given. The need to ensure the availability of bank loans has been identified. Stimulating investment lending to agricultural enterprises will have a positive impact on the development of the industry, as well as improve the existing economic situation of rural residents. High demand for credit resources from agricultural producers, the current state and dynamics of lending to the agro-industrial complex in Ukraine allow us to conclude that it is necessary to improve the mechanism of bank loans, develop effective credit products for the agro-industrial complex and strengthen state support for agricultural lending. Keywords: credit, banks, enterprises of the agro-industrial complex, credit programs for the agro-industrial complex. JEL Classification G21, Q14 Formulas: 0; fig.: 3; tabl.: 1; bibl.: 15.

Abstract. The problem of attracting financial resources for the growth of small and medium-sized businesses was and remains relevant at all stages of the market economy development, which actualizes market research in the historical context. The article provides a historical retrospective to the problem of the mutual credit societies (MCS) creation and activity in 9 Ukrainian governorates, that were part of the Russian Empire in the second half of the 19th — early 20th centuries. The present paper makes attempt to examine the mechanisms and structure of lending, which was carried out by MCS in general. The objective is to establish the state of MCS’ development in the Ukrainian governorates. The paper also identifies the role of MCS in the lending system that had developed in the second half of the 19th — early 20th centuries in the Russian Empire. It was used several scientific methods which includes an interdisciplinary approach and are characteristic of research in the economic history field. Various historical sources like published statistical data and archival documents and materials were used. The study has found that the establishment and activity of MCS were focused on providing short-term loans to small and medium-sized businesses, that has been operating in governmental and provincial uyezd towns and cities where the banking system was poorly developed. It was carried out the analysis of development dynamic of quantitative and qualitative indicators of MCS activity. It was determined that the MCS share in the credit system of the Russian Empire constituted 5% in 1914. The study has found that rate of the MCS creating practice was influenced by many factors, which were mainly associated with unsuccessful financial reforms, belated legal regulation and weak episodic state support. The change in the structure of the credit-deposit and other operations provided by MCS has been processed. The range of banking services provided by MCS to their members and other clients was investigated. It has been proved the value of the historical experience of MCS crediting and the possibilities of its use to provide financial support for the development of domestic business are outlined. Keywords: Russian Empire, credit, crediting, loan, bank, mutual credit societies (MCS), banking system. JEL Classification B17, N24 Formulas: 0; fig.: 8; tabl.: 1; bibl.: 35.

The subject of the study is the formation process of the banking system of the Russian Empire in the post-reform period, and its then-theoretical basis. The purpose of the work consists in studying the problem of bank lending in the Dnieper Ukraine and conducting an analysis of the scholarly opinion of economists on bank lending in the second half of the XIX-early XX century. The methodological basis of the article for solving the problems set in the article is applied general scientific methods (analysis, synthesis, systematization, generalization) and special methods of scientific research (diachronic (periodization), comparative, retrospective, historical-typological and economic analysis). Results of work. The views of economists of the XIX century on actual problems of lending has been studied and analyzed in the article, attention was paid to their recommendations for improving the credit system. The main economic, historical and social conditions of the development of mortgage lending and its role in the credit system of the Russian Empire have been investigated. The main problem aspects of that time mortgage are determined and analyzed. The field of application of results. Theoretical conclusions and research results can be used in teaching economics and economic thought courses, as well as other economic disciplines in the training of specialists in economics and banking at universities. Conclusions. The study of the post-reform banking system of the Russian Empire allows us to conclude that reform was a forced step by the government in the process of resuscitation of the banking system. The Ministry of Finance, taking into account the previous unsuccessful experience in creating banks, has stimulated the consolidation of potential consumers of loan products of Zemstvo banks under the terms of mutual responsibility. Nevertheless, despite the progressiveness of such new approaches to lending, the existence of vestiges of pre-reform approaches continued, this was reflected in preferential lending to the nobility. The personality of the representative of the Kyiv School of Economics, Mykola Bunge has a significant place among scientists and practitioners involved in reforming the banking system of the Russian Empire. In addition, the non-state banks of the Dnieper Ukraine, in particular, Kherson Zemsky Bank and Kharkiv Land Bank have become the examples for the formation of similar banking institutions throughout the empire. The study also allows us to conclude that reform has been a significant success due to the technocratic approach in government appointments and the involvement of academics in administration of the State, which is especially relevant for modern Ukraine.

The article is aimed at improving the scientific-methodical approach to the formation of the national credit scoring system, which, based on foreign experience, would take into view the features of activities of banking institutions in Ukraine. A generalization of researches has allowed to identify certain lacks of the available approaches to definition of credit scoring. It is proposed to consider credit scoring of a banking institution as an information system of interrelated elements (organizational structure, functional components, information database, and information technologies) and processes, from the phased analysis and integral assessment of the potential borrower to the decision as to provision (or rejection) of credit, formation of a package of relevant documents with subsequent support and forecasting the risks incluiding the failure to comply with credit obligations. The interrelationship between the elements of the information system of credit scoring allows to ensure the productivity and quality of work of the bank’s staff, improve the efficiency of managerial decisions on crediting, which will then optimize the volume of the credit portfolio while reducing costs.

Cash gaps in the financing of the agricultural enterprises determine the attraction of the borrowed funds, which contributes to the growth of the production, allows restructuring the technological base on an innovative basis and is the key to the growing dynamics of their own. Due to this, the management of the attraction and the efficient use of the borrowed funds is one of the most important functions of the agricultural formations management. At the same time, the subordination of the agricultural production to the law of diminishing returns causes dysfunctions in the formation of the financial leverage effect, which reduces the efficiency of the use of the credit resources to finance the production costs of the agricultural producers. In particular, the assessment of the effectiveness of the borrowed capital by the agricultural enterprises from the standpoint of the classical approach in calculating the financial leverage effect showed that the latter ignores the law of diminishing returns, which leads to the erroneous conclusions as to the feasibility of using shortterm loans to finance the operating costs. Taken together, this necessitates the substantiation of new scientific and methodological approaches to the organization of effective short-term crediting to the agricultural producers. The results of the research show that the declining payback of increasing the intensity of the agricultural production significantly affects the effectiveness of the credit resources to finance the operating costs. The methodological tools tested during the research allowed to establish a decrease in the optimal level of the production intensity under the conditions of credit coverage of part of the costs compared to their self-financing. Besides it has been determined that under the conditions of combining own and borrowed funds, the optimal level of production intensity does not depend on the structure of the working capital by the financing sources. Along with this, there are wellfounded approaches that allow calculating the level of the credit coverage of the costs, at which, without reducing the expected profit in terms of self-financing, much larger volumes of the marketable products become achievable. In addition, it is established that the reduction of the optimal level of the production intensity under the use of the credit resources is proportional to the level of the interest rates. It is all the more significant the higher are the interest rates. [ABSTRACT FROM AUTHOR]

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The credit market at the present stage of development is a mechanism of funds distribution, which ensures the transformation of monetary capital into a loan. The functioning of this market affects all economic entities, since the lack of financial resources negatively influences not only individuals and legal entities, but also inhibits innovative development of the national economy, reduces opportunities for expanding the activities of economic entities and significantly plunges into the credit rating of the country as a whole. Accordingly, given the objective importance of the credit market for the economy development of any country, the issue of conducting new scientific research in the field of this market studying, the features of its functioning are important. The purpose of the study is to substantiate the essence of the credit market, the features of its functioning in economic systems of different hierarchical levels through the study of the basic conceptual approaches to considering its concept. In the course of the research, the main theoretical trends in determining the essence of the "credit" definition were thoroughly considered, this made it possible to find out that a loan is not a tool and source of extended reproduction, acts as a resource for profit both by the lender and the borrower, and also contributes to the development of innovative processes in economy. In addition, the content of the "market" category was investigated, which made it possible to distinguish different approaches to the interpretation of this concept. Based on these two concepts, the essence of the credit market was considered, the approaches to the interpretation of this category were given, common and specific features characteristic for the credit market were revealed. Based on this, the author proposed the following definition that the credit market is a specific economic space, where there is an interaction between the lender and the borrower about the purchase and sale of loan capital, in order to meet public and own needs through a system of banking and non-banking financial and credit institutions according to the basic principles. [ABSTRACT FROM AUTHOR]

The implementation of strategic tasks of the agrarian sector of Ukraine essentially depends on the financial provision of agricultural producers. In the context of limitation of their own financial resources, budget financing, low development of the financial instruments recognized in the world practice, the loans of commercial banks are an important source of financial resources for agricultural enterprises and small farmers. The use of bank loans positively affects the financial and economic activities of the producers in the agrarian sector due to the opportunity of diversification of sources of financing, growth of investment activity, acceleration of capital turnover, increase of profitability of own capital, etc. Though, there are a number of factors that restrain the bank crediting to the agrarian sector in the modern terms. The tendencies of bank crediting in financial provision of agricultural enterprises in Ukraine in 2013-2017 were considered. The changes in the nominal volumes both of bank crediting and real ones were estimated for this period. The comparison of the role of bank crediting to agricultural enterprises in Ukraine with the practice of lending in other countries on the base of the volume of bank loans per hectare of agricultural land, the share of these loans in the value of agricultural product and costs, Agriculture Orientation Index (AOI) for credit, was evaluated. The survey of agricultural enterprises showed a very low debt-to-assets ratio in 2017. Own financial resources of agricultural enterprises have remained the main source of their financial provision. The share of agriculture in total crediting is less than the contribution of the agriculture into the formation of gross value added in the country in recent years. The potential needs of agricultural enterprises in bank crediting were estimated. It was proved that the volume of bank crediting was insufficient for the financial support of operational and investment activity of agricultural enterprises in Ukraine. The necessary conditions for activation of bank crediting to agriculture were determined.

In this article the author describes the state of the banking system of Northern Bukovyna and Khotyn region in 1918-1940 in the amalgamation of royal Romania. The attention is paid to the development of bank offices and main directions of their work. The stress is laid on negative results of World War I for the financial system of region; the period of rising of bank sphere in 1920s is investigated in details. The influence of Great depression on work of region’s banks is characterized. Its main manifestations are analyzed.

The article covers the problems of financial provision of higher education in Ukraine. The application of credit financing mechanisms for obtaining higher education in Ukraine is analyzed, as well as the schemes of lending in foreign countries have been investigated. Conclusions are made on the necessity of further development of financing mechanisms for financing higher education, as well as relevant recommendations regarding the prospects of transformation of state soft loans into loans under government guarantees.

General directions of budget crediting in Ukraine, as well as the conditions and current state of financing of the main existing economic and social programs are investigated in this paper. Based on the analysis of the regulatory framework and literature sources, the peculiarities of budget crediting as a type of credit relationships are identified, its principles and main functions are characterized. According to the statistical reporting of the State Treasury Service, the dynamics of the implementation of the planned indicators of domestic budget crediting for the last five years, as well as the distribution of the implementation of the relevant indicators by industries are analyzed. Modern social programs of lending from the state budget according to the following direction: the preferential mortgage youth lending, preferential lending to legal entities (including housing cooperatives) for the reconstruction and repair of housing and communal services; preferential lending for vocational and higher education; preferential mortgage lending to internal employees and participants of the antiterrorist operation/environmental protection are investigated. Loan terms, interest rates on loan programs, terms of exemption from interest and partial/full loan repayment are identified. The actual performance indicators of each social program are analyzed. In addition, the economic programs for agricultural producers support are considered, conditions for granting and repaying loans, as well as the state of their financing from the moment of introduction till present are analyzed. It is determined that under the conditions of economic crisis budget crediting programs are financed on a regulatory framework. Under the current conditions of chronic budget funds shortage, the budget lending programs are not able to operate on the permanent basis. As a result, the State Fund for Youth Housing stopped to provide loans for most programs. The necessity of regulation of the normative-legal base on the issues of budget crediting and redistribution of the expenditure part of the budget is substantiated, increasing the specific weight of budget crediting for increase of efficiency of budgetary funds use. [ABSTRACT FROM AUTHOR]

Current state, development tendencies and peculiarities of providing agrarian sector of Ukraine economy with bank loans are investigated in this paper. It is established that the agrarian market of Ukraine is characterized by constant dynamics resulting in the changes of agribusiness lending trends. The aspects of granting bank loans to agricultural enterprises and bank lending program are investigated. The main problems encountered by the participants of the bank lending market are identified. The main obstacles of agricultural enterprises crediting by banking institutions and the main risks of banking institutions are considered. The statistic data concerning the volume of bank loans granted to non-financial organizations in the period from 2014 to 2019 are summarized. Analysis of the agricultural sector lending dynamics shows that short-term loans predominate among bank agricultural loans, and the share of long-term loans is only 5%. The dynamics of the value of banking financial instruments and the profitability of agricultural enterprises are analyzed. It is established that in case when the level of agribusiness profitability is higher than the average annual interest rates on bank loans, then the agricultural enterprises can reinvest profits into their own activities, which has a positive effect on the further development of their economic activity. The carried out analysis of preferential lending to agricultural enterprises shows that, despite the implementation of a number of state support programs for agricultural producers, their level remains relatively low in comparison with other countries in the world. The factors of bank credit influence on the further development of agrarian sector of the Ukrainian economy are formulated. It is established that for the development of bank lending to the agrarian sector of Ukraine it is necessary to develop, both from the state and from the banks, complexes of measures and mechanisms aimed at the development of interaction between the banking and agrarian of the economy. It is noted that the improvement of bank lending in the agrarian sector of Ukraine economy specifies the execution of such basic tasks as credit risk management by introducing improved diagnostics of the financial status of agricultural enterprises; expansion of programs for bank lending to the agricultural sector involving the state support programs for agricultural producers; promotion of small and medium-sized agricultural enterprises development; creation of the favorable climate for investing in agriculture. [ABSTRACT FROM AUTHOR]

The paper deals with the role and importance of bank credit in the financial support for the development of small and medium-sized enterprises. The main problems of bank lending to business entitie are revealed. The motivational relationships of small and medium-sized enterprises and banks are described in terms of production need, financial capacity and economic feasibility in their credit relations. The role of state support in establishing market relations between small businesses and banks is emphasized. Much attention is paid to the internal problems of small business that impede their lending process by banks. The paper is focused on consumer and partner interaction between banks and small and medium-sized enterprises. The role of banks and local authorities in stimulating innovation and investment activity of small business is defined. The directions of stimulation of small business micro-crediting and the role of microfinance organizations in the financial support of small and medium-sized enterprises under crisis and post-crisis conditions are outlined. Due to the fact that in Ukraine micro-credit is developing only in two directions (in cooperation with international financial institutions by domestic banking and granting micro-credits to small businesses with reimbursement of interest share in the framework of commercial banks cooperation with local authorities at the regional level, therefore the combination of banks and non-banking microfinancial organizations into two-level micro-lending system is the most successful mechanisms. It is evident that the most important task for such mechanism implementation is legislative support of microfinance institutions operation and their activity within their rights and duties, making it possible to develop uniform standards of microcredit procedure regulations. [ABSTRACT FROM AUTHOR]

Objectives The aim of the article is to help financial analysts and managers to determine appropriate choices regarding capital structure matters which are relevant for the development of their considered companies. Material and methods In this article, the panel data analysis was used, in order to investigate the relationship between the choice of the structure of the capital and elements related to financial statements of selected polish companies of the WIG20 index. Results Evidences from the article generally suggests the relevance of the pecking order hypothesis in explaining the financing choices of Polish firms. Companies have some preferences regarding their financing. Conclusions The article also emphasized that capital structure choice may be the result of a complex interaction of many institutional features and business practices that are not fully captured by differences in the legal systems, which is especially important such as Poland where the legal system is quickly changing due to new politicians at the head of the state. All industry variable coefficients are statistically important and do confirm differences in capital structure among industries. This a topic which can be covered within a future article.

This study examined the effect of capital investment on the productivity of agricultural sphere of Nigeria. The productivity of the sector was proxy as the agriculture’s contribution to the GDP while commercial bank loan to agriculture, annual budgetary allocation to agricultural sector and various categories of ACGS loan scheme were proxy as investment frameworks. The data used for thus study were extracted from various bulletin of Central Bank of Nigeria and National Bureau of Statistics from 1978–2014. The long and short run relationship of these variables were estimated using the Johansen approach to cointegration and the Vector Autoregressive Error Correction Model respectively. The test of cointegration revealed presence of long run relationship among the various investment sources and categories and agricultural productivity in Nigeria. This confirmed capital as the lubricant of the production process without which other factors of production may become difficult to acquire. The short run estimates revealed total volume of loan, volume of loan to individual and volume of loan above N100,000 as variables that influence agricultural productivity in the short run, further confirming the important place of capital investment in creating jobs in agricultural sector.

The issue of legal regulation of consumer lending has been studied taking into account the provisions of the Law of Ukraine "On consumer lending" and the legislation of the European Union in the aspect of harmonization of Ukrainian legislation with the legislation of the European Union and international standards. The criteria of qualification of credit relations as consumer are established. The legal status of the participants in consumer lending relations is determined: the lender, the consumer, the credit intermediaries. The emphasis is on the information obligations of the lender to the consumer. The conditions of the consumer loan agreement are analyzed, in particular, the conditions regarding the size of the real annual interest rate and the total cost of the loan to the consumer at the date of the contract conclusion. The content of consumer rights for refusal from the consumer loan agreement and early repayment of the loan are considered. The guarantees of consumer rights protection of credit services are disclosed both before the conclusion of a consumer loan agreement and during its execution. The provisions of the legislation concerning the specificity of establishing the order of repayment of claims under a consumer loan agreement and the legal limitation of consumer liability are maintained.

Object, purpose of work. It is resulted summer of theoretical positions in relation to the investment providing of development of agroindustrial complex. Maintenance and task the mechanism of the investment providing of development of agroindustrial complex is exposed. The features of agroindustrial production are resulted, that meaningfully influence on forming of investment risk. The rotined role of credit as sources of investments is in an agroindustrial complex. The results of generalizations are given in relation to organization works with agroindustrial enterprises, which are the borrowers of investment credits. Purpose of the article – to expound the results of researches from generalization teoretiko-methodical bases and features of the investment providing of development of agroindustrial complex in the conditions of modern transformations. Method or methodology of leadthrough of work. Method or methodology of leadthrough of work. Scientific and specific methods and receptions of scientific researches is induction and deduction, analysis and synthesis, scientific abstracting, method of expert estimations, formal method were used (for the analysis of texts normatively legal acts). Job performances. The results of generalizations of theoretical bases of the investment providing of agroindustrial complex are given, the key features of agroindustrial complex are resulted as to the object of investing, a role and value of credit as sources of investments is rotined in an agroindustrial complex. Industry of application of results. The got results can be applied at forming and realization of public agrarian policy, public investment policy, public money-and-credit policy. Conclusions. Application of instruments of adjusting of investment activity in an agroindustrial complex must take place on selective basis, take into account that the same instruments can render the raznospryamovaniy influence on the economic decisions of adjusting objects. Application of measures of state support of investments in an agroindustrial complex must take place on the basis of the deep working of possible consequences of such support, including after the basic types of products of plant-grower and stock-raising. Investment processes in an agroindustrial complex must take place on the basis of action of principle of synchronization, in accordance with which separate subindustries and productions carry out investment activity it is synchronized, taking into account interests each other. In an agroindustrial production a credit plays an extraordinarily important role as source of investments. The list of specific credit instruments which are used for activation of investing in an agroindustrial complex is resulted. Decision of problem of stimulation of investment activity of agroindustrial enterprises it is necessary to decide on the basis of bringing in and use of credit resource, coming from the necessities of both agroindustrial enterprises and banking system (establishments of which can allot credit only on certain terms).

The article discloses the essence of factors that are defined as phenomena or processes that result in changes in the quantity and/or quality parameters of financial resources placed by financial intermediaries in Ukraine's economy. An analysis of the most common approaches to classifying the factors influencing on various aspects of activity by financial intermediaries has led to allocation of an authorized approach to the systematization of factors for placement of financial resources by financial intermediaries. Two groups of key factors have been defined and their relationship has been determined. According to the source of their origin, the external ones and the internal ones have been allocated. According to the contents, the external group includes the economic, legal, political, and socio-demographic factors, the internal group includes financial basis, credit and investment policy of intermediary. An analysis of the factors, their effects, and the impact of influence has shown that they have the ability to stimulate, deter, channel the placement of financial resources by financial intermediaries in the economy.

The article reveals the regularities and peculiarities of the development of Ukrainian agricultural cooperation during the first two decades of the twentieth century. The contribution of domestic theorists and practitioners of co operation, as well as the role of All-Ukrainian Congresses of Cooperation and the Provisional Central Ukrainian Cooperative Committee was shown. The influence of the revolutionary times of 1905 – 1907 and 1917 – 1921, as well as the First World War on the dynamics and directions of the cooperative movement was determined.

In particular, the process of adapting commercial banks to rapidly changing macro- and micro-conditions is of particular importance in the context of the economic and banking sector crisis phenomena, which in turn affects the quality and, accordingly, competitiveness of banking services.Increasing the competitiveness of banking services of Ukrainian banks and ensuring the competitiveness of the domestic banking system is a prerequisite for ensuring sustainable economic growth. In view of this, the authors updated the issues of assessing the competitiveness of banking services offered in the market, using methods of economic and mathematical modeling. In assessing the competitiveness of banking services, research methods such as analysis and synthesis, the method of comparison, economic-statistical, mathematical, grouping and modeling, table and graphic are used. The work also used the modification of the Saati method as a hierarchy analysis method from the point of view of replacing the Saati estimates in the matrix of pairwise comparisons based on the numerical relations of the corresponding characteristics of the model's factors.Thus, the competitiveness of the banking service «Credit»ofJSC Oschadbank, PJSC CB «Privatbank», JSC «Raiffeisen Bank Aval», JSC «Kredobank», JSC «Alfabank»and PJSC CB «Taskombank»on the basis of its economic and consumer properties. The approach proposed by the authors to assess the competitiveness of banking and banking services, allows positioning services of a competitive bank in the financial market. For each commercial bank it is possible to determine the position and establish the competitive advantages of banking services in comparison with similar services of other commercial banks. Using the proposed model provides an opportunity to assess the competitiveness of the banking institution in terms of the competitiveness of banking services and should become a complete and informative information tool for managing the competitive advantages of domestic commercial banks.

The purpose of the paper is to analyze the genesis of credit legal relationship as the notion in Civil law as well as historical transformations of its legal regulation at the different stages of Ukraine’s development. The survey is based on the use of a comparative method, the application of which allows us to compare Ukrainian laws with international crediting standards. The theoretical and practical recommendations on the improvement of law implementation and legal credit regulation are made. Results of the survey showed that the domestic legislation regulates the relations of consumer lending are more perfect in the field of consumer rights protection in comparison with other countries of the post-Soviet area. As for the EU countries, the legal regulation and practical application of the credit institution used by the participants in civilian circulation to meet their economic needs is deprived of those gaps existing in the domestic legal system. In particular, it is a question of the uncertainty in the Ukrainian legislation of issues related to the use of misleading advertising by banks concerning lending conditions, incomplete disclosure of information, difficulties encountered in assessing the borrower's creditworthiness, the status of a credit intermediary, establishing unfair terms of consumer credit agreements, imposing by banks and other institutions of additional and related services, lack of equal requirements to creditors, etc. The change in the political and economic situation in Ukraine directly influenced the legislator's approach to the legal regulation of credit relations. The transition of social relations to the market economy has led to increased acquisition by the subjects of the civilian turnover of goods and services on credit. However, the current legal credit regulation does not always meet the requirements of practice. Ukrainian legislation has legal acts that regulate lending relations, but foreign practice of the separate credit institution has already deprived of those gaps that Ukrainian legal system still need to fill up. In order to eliminate the problems of legal consumer credit regulation it is necessary to bring the legislation of Ukraine into conformity with the best international practice.

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Copyright of Financial & Credit Activity: Problems of Theory & Practice is the property of University of Banking of the National Bank of Ukraine and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The lack of a comprehensive approach to the accounting reflection of repayable financial aid makes it impossible to establish an information base for the evaluation of its attraction and use. Therefore, to ensure completeness of operations related to the involvement of financial assistance is only possible through the use of scientifically based methods of accounting and scientific researches in the field of accounting should be directed at ensuring stable financial condition of the enterprise, improving management decision-making to attract and use financial aid and prevent violations of the payment discipline. Based analysis approach to mapping returnable financial assistance has shown that the accounting staff has no single method for such transactions. In order to eliminate this disadvantage we offer to display repayable financial assistance as a part of the loan capital through the use of 609 "Swivel financial assistance" account to the opening of the analytical account of 609.1 "Swivel financial assistance in the national currency", and 609.2 "Swivel financial assistance in foreign currency" and the account of 505 "Long-term financial assistance in the national currency" and 506 "Long-term financial assistance in foreign currency".

The Civil Code of Ukraine there are no specific rules governing contractual relationship currency bank account, and existing norms in the national legislation does not reflect the specificity, complexity bank currency relations; regulations that regulate banking operations in foreign currencies, in some cases inconsistent, uncoordinated and even contradictory; In addition, some based on somewhat outdated today philosophical position, affecting the development bank currency civil relations. Problems about the determination of the legal nature of the contract currency bank account, studied and continue to study the eminent jurist scholars, among which highlight G.F. Shershenevich, C.A. Fleyshyts, I.B. Nowicki, M.N. Agarkova, A.S. Ioffe, N.S. Kuznetsov, I.A. Bezkluboho etc. Purpose of the article – the definition of the legal nature of the contract currency bank account, as well as research and analysis of major scientific debate on the subject. Given the inextricable link between the two elements of a bank account without connectivity relations on the account balance on any loan or of storage, believe that the bank account agreement today is an independent civil - legal contract.

The article examines the phases of e-money development from the first mentioning of «a credit card» in literary sources to the appearance of Diners Club which preceded modern credit cards. The author has used the historical and geographic method for the decomposition of the early phase in the e-money development concerning the basic motives that induced emitters to develop and implement particular credit-payment systems. The article singles out three stages within the early phase of the e-money development, namely, the beginning of the ХХ-th century (supplying with short-term credits to obtain consumer’s goods), from 1920 to 1940 (guarantee of consumer’s loyalty to a brand, increasing the safety of clearing transactions by payer’s authorization), and 1950-ies (the use of the same credit for payment to various enterprises). It establishes the main features of the early phase in the e-money development; they are such as the absence of the necessary technical supply; emission, sale, guaranty on credits, on the cards issued take place outside the banking system; the lack of corporation credit card segment; the limitation of the application area; the low level of safety of the transactions accomplished.