Stagnation of the loan market of Ukraine actualizes issues related to the need to intensify mortgage lending. The key problems that stand in the way of actualization of mortgage lending in Ukraine are identified as follows: preservation of low level of welfare of the population; numerous and high-profile bankruptcies of participants in the primary housing market; poor quality of the previously formed loan portfolio of individuals; actual prohibition for banks to provide loans to individuals in foreign currency; formation in Ukraine of a kind of «resistance movement» against the return of mortgage loans; presence of a moratorium on the recovery of property on foreign currency loans; a complex of problems related to the legal aspects of the provision and repayment of mortgage loans; low level of institutional development of the mortgage market; presence of a number of objective difficulties and subjective factors in the implementation of the government program «Affordable Mortgage 7%». An analysis of the results of the government program «Affordable Mortgage 7%» for 2021 suggests that its key task is fulfilled only by 23%. To intensify mortgage lending in Ukraine, it is necessary: an increase in the availability of lending to individuals for the purchase of housing within the framework of the government program «Affordable Mortgage 7%»; development of additional government mortgage lending programs focused on the purchase of housing in the primary market; ensuring legislative support for judicial reform; further reduction of the share of problem loans in the loan portfolio; providing legislative support for the creation of a second level of the mortgage market, which should include the issuance and circulation of mortgage bonds, which can also be used as a tool for investing pension savings

Гладких Д. М. Чинники оздоровлення кредитного портфеля та відновлення банківського кредитування в Україні Метою статті є дослідження основних чинників, що впливають на структуру кредитного портфеля, та визначення заходів, спрямованих на її оптимізацію та відновлення кредитної активності банків України. Визначено основні проблеми, що стоять на перешкоді активізації банківського кредитування: висока частка проблемної кредитної заборгованості; незадовільна структура банківських пасивів, що є основним джерелом кредитних ресурсів; повільні темпи відновлення капіталізації банків; низький попит на кредит з боку позичальників через високий рівень відсоткових ставок; мінлива динаміка розвитку базових галузей економіки; вагома частка тіньового сектора економіки, що відсікає від кредитного обслуговування частину клієнтів; наявність інших інструментів низькоризикового розміщення кредитних ресурсів. У межах вирішення даних проблем запропоновано низку заходів щодо оздоровлення кредитного портфеля (зниження ризиків кредитування, створення державної агенції для безнадійних кредитів); структури активів і пасивів (зниження доларизації активів і пасивів, диференціація норми резервування залучених коштів, відновлення довіри до банків, більш справедливий розподіл кредитів між регіонами); відновлення капіталізації банків (відновлення вимог щодо буферу запасу капіталу, приведення нормативів капіталу у відповідність до Базеля ІІІ, розробка Концепції зростання капіталізації банків шляхом залучення іноземних інвестицій); зниження вартості кредитних ресурсів (додаткове зниження облікової ставки, внесення змін до Державної програми «Доступні кредити 5-7-9%»); стимулювання розвитку базових галузей економіки (фіналізація переговорів з ЄС про збільшення розміру квот, створення регіональних центрів підтримки експортерів); її детінізації (зростання фінансової інклюзії, розробка Концепції переведення транзакцій у безготівкову форму, переведення отримувачів соціальних виплат на безготівкову форму оплати, підвищення прозорості транзакцій); переорієнтації банків з кредитування бюджетного дефіциту на кредитування юридичних і фізичних осіб (мінімізація бюджетного дефіциту, введення нового нормативу, що регулюватиме частку активів банку в ОВДП).

Introduction. During 2022-2023, the monetary and credit system of Ukraine faced an unprecedentedly large number and a fundamentally new quality of problems associated with the transition of a permanent low-intensity armed conflict into full-scale military operations, accompanied by various negative consequences that directly affect the monetary sphere. Problem Statement. Establishing the prerequisites and substantiating prospects for the implementation of a complex of regulatory measures of the state in the monetary sphere, aimed at overcoming the main problems of the monetary and credit system of Ukraine in the conditions of war. Purpose.To analyze the key challenges and destabilizing factors that directly and negatively affect the performance of the monetary and credit system of Ukraine of its key functions and to justify the most urgent state measures aimed at overcoming them. Methods. General scientific and special methods are used: analysis, synthesis, grouping, description, comparison, theoretical generalization and abstract-logical. Results. The key problems faced by the monetary and credit system of Ukraine during the war are analyzed: new challenges faced by the banking system, negative dynamics of inflation, suspension of lending and changes in the structure of the credit portfolio, challenges to exchange rate stability, and a decrease in the level of financial inclusion. Within the scope of solving these problems, a number of measures have been proposed to reduce the rate of price growth and ensure the exchange rate stability of the hryvnia, the gradual recovery and activation of the lending activities of banks, primarily in the field of long-term corporate lending in the national currency, and the restoration of the appropriate level of financial inclusion. Conclusions. The main tools for solving the problems of the monetary and credit system of Ukraine in the conditions of the war should be, in particular, further compliance with the policy of “expensive money”; limitation of emission and money supply growth rates; ensuring the joint responsibility of state institutions in the process of implementing monetary policy; synchronization of yield levels of NBU and OVDP certificates of deposit; decrease in the share of foreign currency loans and deposits; export promotion; restoration of the mandatory sale of part of the foreign currency earnings of exporters; growth in the supply of cash currency; use of non-monetary instruments of anti-inflation policy; improvement of the method of mandatory reservation of the funds involved; increasing the yield of household deposits; settlement of the “new” NPL problem; creation of a specialized state institution for NPL management; involvement of state banks in lending to reconstruction projects; stimulation of mortgage lending; resumption of work of bank branches; organization of work of mobile departments; temporary moratorium on closing branches of state banks; further development of the POWER BANKING system; provision of post offices with ATMs and payment terminals; implementation of a training course on financial literacy; creation of a single communication platform on financial literacy issues; providing support to the elderly in non-cash payment skills.

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 article is aimed at examining the key features, the main stages of development and the current status of the market of non-banking financial services in Ukraine and the formation on this basis of the main directions of its further modernization. The key stages of formation and functioning of the market of non-banking financial services are determined as follows: extensive development (1991-1994), organizational formation (1995-1999), growth (2000-2008), systemic financial crisis (2008-2009), post-crisis (2010-2013), significant fall (2014-2019), active reforming (from 2019). The peculiarities of the last stage characterized by modernization of the insurance market, factoring market, non-bank leasing market, financial companies, pawnshops, credit unions are researched. The following directions of further modernization of the non-banking financial services market are proposed: strengthening the financial sustainability of market participants by improving regulatory requirements, updating the legislative framework; increasing confidence in market participants by cleaning it from problem institutions, introducing a system of guaranteeing funds of individuals and legal entities; promoting the expansion of the insurance market and the development of non-state pension provision as sources of mobilization of «longer» financial resources; increasing the level of financial inclusion of the population with priority development of access to financial infrastructure in rural areas; promoting the development of online services, the infrastructure of non-cash transactions, increasing the proportion of non-cash transactions; encouraging competition and innovation.