This work presents the results of the investigation of trust to banks in European Union as well as in Ukraine. The special focus was on relevant documents that describe the strategic directions of the Ukrainian banking system's future development in the context of restoring trust to banks. Furthermore, some of the quantitative results of the authors' previous publications are summarized, as they may prove valuable in the study of the subject.The authors concluded that the recent crisis is a stark reminder that banking functioning based on trusting. The dramatic changes in the banking environment brought about by financial innovation and technological progress have not diminished the role of trust in banking. Any lack of trust significantly impairs the functioning of the banking sector and prevents banks from contributing to economic growth.

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The paper studies methodological approaches to the formation of monetary policy rules for the base interest rate of the National Bank of Ukraine demonstrating the expediency of their development on the basis of the spread-adjusted Taylor rule. It carries out the assessment of equilibrium values for the rule's parameters by using a modified HodrickPrescott filter as well as the identification of the possible parameters of the monetary rule and the estimation of their coefficients through the development of multivariate regression models.

The previous financial crisis caused the ending of an unusually long phase of recovery in the former USSR republics, thus increasing the relevance of developing effective measures, specifically, the countercyclical economic policy. Throughout 1991 to 2010, fourteen completed cycles were identified in countries of Commonwealth of Independent States (CIS). At the beginning of June 2011, one economy was in recovery phase, five economies were in the growth phase and one economy was in the decline phase. The authors also analyzed the level of countercyclical monetary policy of central banks in major economies of the CIS. The necessity of a more active countercyclical monetary policy in these countries was identified.