  We study formation and screening of local magnetic moments in the two-band
Hubbard model in the presence of Hund exchange interaction using dynamic mean
field theory approach. The characteristic temperatures of the formation,
beginning and full screening of local magnetic moments are obtained from the
analysis of temperature dependencies of the orbital, charge, and spin
susceptibilities, as well as the respective instantaneous correlation
functions. At half filling we find the phase diagram, which is similar to the
single-orbital case with wide region of formation of local magnetic moments
below the orbital Kondo temperature. Similarly to the single-orbital case, with
decreasing temperature the screening of local magnetic moments is preceded by
appearance of fermionic quasiparticles. In the two-band case the quasiparticles
are however present also in some temperature region above the Mott insulating
phase. At finite doping we find broad regime of presence of local magnetic
moments, which coexist with incoherently or coherently moving holes. We also
find, similarly to the half filled case, finite temperature interval in the
doped regime, when the fermionic quasiparticles are formed, but do not yet
screen local magnetic moments.
