In the economy of any state, the banking system plays one of the main roles. It acts as an intermediary during the movement of money and credit operations between sellers and buyers, lenders and borrowers. We will consider the characteristics of the banking system of the Russian Federation in this article.

What is it?

The banking system in Russia is a set of financial intermediaries approved by law money market engaged in banking activities.

The concept of the banking system of the Russian Federation can be understood as the interaction between the Central Bank, commercial banks and other credit and settlement organizations. This is stated in the Federal Law of December 2, 1990 “On Banks and banking".

The banking system does not appear spontaneously. This is not just an association of financial institutions, it is a well-planned concept in which each type of bank has its own special role.

Species

Before analyzing the basis of the banking system of the Russian Federation, it should be noted that all world systems are divided into two types:

1. Centralized.
2. Market.

In the first case, there are only one or a few state-owned banks and many branches in the country. This can be called a state monopoly on this type of activity.

In the second case, there are many banks in the state, which differ from each other in their form of ownership, operations performed and other characteristics. At the same time, the activities of financial organizations are strictly regulated by the law of the country. The banking system of the Russian Federation belongs to this type.

In addition, all banking systems are divided into single-level and two-level. In the first case, all banks in the system perform the same functions, including issuing ones. There is no clear hierarchy between financial organizations. This is characteristic of the historical stage of development.

Commercial banks in Russia

In the structure of the banking system of the Russian Federation, commercial banks are considered all financial organizations that provide services to individuals and legal entities. Services mean:

• issuance of any loans;
• operations with precious metals;
• transactions with foreign currency;
• issue of bank cards;
• money transfers;
• carrying out cash management operations;
• collection services;
• conducting bank accounts;
• execution bank guarantees;
• working with deposits and paying interest on them.

Commercial banks conduct activities aimed at attracting profit, in contrast to the Central Bank, whose main function is regulation. Commercial banks can be either private or public. According to their forms of ownership, they are divided into joint stock, cooperative and joint.

There are several more classifications in the banking system of the Russian Federation:

• by scale and volume of capital: large, medium and small;
• by the nature of the operations performed: highly specialized and universal;
• by place of service: regional, all-Russian and international;
• with and without foreign capital;
• with or without branches.

They play a special, “financially forming” role large banks. They tend to have a large number of clients and a good volume of assets. These are organizations such as Sberbank, Alfa Bank, VTB, Gazprombank, Raiffeisenbank and others.

Non-bank credit organizations (NPOs)

There are three types of such organizations:

1. RNKO - settlement non-bank credit organizations. They provide legal entities and individuals with settlement and cash services. In addition, such organizations may engage in foreign exchange transactions. These include: companies engaged in clearing, settlement centers of payment systems and settlement centers of foreign exchange and stock markets.
2. PNCOs are payment non-bank credit organizations. These include any payment systems: WebMoney, Qiwi, Unistream, as well as payment systems of telecom operators.
3. NDKOs are non-bank depository and credit organizations. This includes structures that can raise money only from legal entities, while they do not have the right to service and open bank accounts. As well as those organizations that work with individuals: microfinance structures, credit unions and cooperatives.

Important! Non-bank organizations that attract deposits do not participate in the deposit insurance system, so clients who decide to keep their savings in them are at quite a high risk. Non-banking institutions are similarly at risk of having their licenses revoked.

Types of banking services

Commercial banks produce a variety of products to help clients meet their needs. Let's look at the main ones:

1. RKO. The most popular service and one of the main sources of cash flow to the bank. Available to both legal entities and individuals.
2. Deposit. Thanks to deposits, the bank attracts a large amount of borrowed funds. For clients this service is financial instrument, helping to save and increase free money. The depositor leaves funds in the bank for certain period at an agreed percentage. The bank uses the money raised to financial transactions from which it makes a profit. Distinguish time deposits and demand deposits. Distinctive characteristics of deposits are the deposit term, interest rate, possibility of prolongation, early withdrawal of funds.
3. Credit. This service is available to all clients. The loan can be used by both individuals and legal entities. Banks offer credit products on different conditions, negotiated individually with each client. The most popular product is a long-term loan. This is a long-term loan provided upon provision of a certain package of documents.
4. Plastic cards. A huge number of people use this service. Banks offer debit and credit cards. Using them you can pay for purchases, services, make non-cash payments. The cardholder usually pays a fee to the bank for servicing the account.
5. Internet banking. Majority banking services can be done without leaving your home, provided you have the Internet and connected service. The capabilities of transactions carried out may vary from bank to bank. How larger company, the more functionality is open to the client. The fact is that the development of such software requires large investments.
6. Leasing. The essence of the service is that the bank leases out a certain type of property for an agreed period, while retaining ownership rights. The client receives the required property and pays the percentage specified in the contract.
7. Bank cells. This is a kind of safe, for the use of which the bank charges a certain commission. Financial companies guarantee their clients complete confidentiality. Banks do not check the property deposited in the safe deposit box. It is individual for each client. If funds are stored in a safe, no interest is accrued on them, unlike deposits.
8. Transactions with precious metals and securities.

Loans, deposits and cash management services are the most popular types of banking services.

Banking infrastructure

All levels of the Russian banking system cannot fully function without a well-functioning infrastructure. This includes:

1. Deposit insurance system. With its help, depositors do not have to worry about their savings stored in banking organizations. It also serves as an incentive for citizens to keep money in bank accounts. As a rule, not only deposits are insured, but also funds on debit cards, although not in all banks. Only DIA - Deposit Insurance Agency - can insure.
2. Self-contained systems settlements between corporate and private clients banking organizations, as well as between the banks themselves. For example, the SWIFT system.
3. Systems that help make payments by plastic cards: MasterCard, VISA, MIR, American Express, etc.
4. Organizations conducting audits of all banking organizations, including the Central Bank.
5. Legal and consulting structures that help banks resolve issues that arise when interacting with clients.
6. Implementation organizations modern technologies into the banking system of the Russian Federation. Thanks to them, the security of transactions is increased and settlement processes are simplified.
7. Training centers providing training and retraining for employees of banks and financial organizations.

Banking legislation

This is another element of the Russian banking system. This includes all legislative acts regulating the work of financial organizations:

1. Constitution of the Russian Federation.
2. Civil code.
3. Banking Law No. 395-1 (adopted in 1990).
4. Law on the Central Bank of the Russian Federation No. 86-FZ (adopted in 2002).
5. Deposit Insurance Law No. 177-FZ (adopted in 2003).
6. Law on National payment system No. 161-FZ (adopted in 2011).
7. Law on consumer credit No. 353-FZ (adopted in 2013).

Functions of the banking system of the Russian Federation

The main functions can be identified:

1. Transformational. The point is that banks can change the terms and sizes monetary capital, and also regulate financial risks by attracting funds from some entities and lending to others. This function can be performed either commercial banks, and the Bank of Russia.
2. Money creation and regulation money supply. The central bank can influence the amount of money available to other banks to carry out active operations. This is done by decreasing or increasing the interest rate. In this way, it is possible to effectively manage money depending on changes in demand for it.
3. Ensuring the stability of banking activities and the money market. Financial activities always associated with great risks. After all, banks exist only due to borrowed funds. Therefore, the bankruptcy of any financial organization can affect the economic situation throughout the country.
4. Stabilization function of the banking system of the Russian Federation. This includes the adoption of bills that regulate the work of banks, as well as the creation of effective control and supervision of financial organizations.

Principles

The country's legislation enshrines the principles by which the banking sector should be organized. These include:

• principle of two-level structure;
• principle of universality of banks.

The first principle is implemented through a clear separation of the functions of the Bank of Russia and other financial organizations. The Central Bank, being at the highest level, performs the function of supervision and regulation of the work of commercial banks, and also performs the function of settlements in the country. To perform these duties, he can carry out all necessary banking transactions.

The Central Bank cannot carry out banking operations with legal entities that are not credit companies, and with individuals, except the military and their employees. This means that at the legislative level he does not have the right to participate in banking market, cannot issue loans and must not compete with commercial banks.

All other financial organizations form the second level of the system. They act as intermediaries in payments, loans and investments, and cannot develop and implement monetary policy. In their work, they are guided by the parameters adopted by the Bank of Russia: interest rates, inflation rates and others. They must also comply with all necessary norms and requirements of the Central Bank. For example, capital level standards or reserve requirements.

The second principle means that all banks operating in the Russian Federation have universal capabilities. This suggests that any commercial bank can carry out various types of banking operations that are provided for by law and license. The legislation does not divide banks by types of operations performed.

Universality helps credit institutions reduce risks by expanding services. Thanks to this principle, the bank can comprehensively serve its clients and develop new services that take into account the needs of certain groups of the population.

We can say that the principle of universality satisfies the needs of the country's economy and creates favorable conditions for the development of the banking system.

The role of the Russian banking system in the economy

The economy is now complex system, each section of which is connected to the other and is important. The banking sector plays an important role here. She's at the stage modern development economic relations, ensures the normal functioning of the entire economy of the country.

Today the banking system must:

1. Collect free money.
2. Produce an emission.

IN modern world Banks play a huge role in the country's economy. With the help of this sphere, the formation and development of the economic and political power of the entire state is possible. We can say that banks today are an economic instrument in the hands of the government. But, unfortunately, only the Bank of Russia is directly subordinate to the state; other banks can only listen to its recommendations.

Until recently, banking activities in our country were regulated by the policies of the CPSU. But after all the political transformations, many non-state banks appeared in Russia, the work of which is regulated by economic laws, the Central Bank and imperfect legislation. But this does not stop the development of the banking system; now it is happening at a rapid pace.

Despite the peculiarities of the banking system of the Russian Federation, Russian credit organizations occupy a strong place in the domestic capital market, and also open their branches abroad. Of course, the expansion of the territorial borders where our banks are located has a positive effect on the country’s economy, but still the emergence of a full-fledged banking system is still far away.

Role banking sector in a market economy is very large. And all the changes taking place in it lead to economic changes in the country. That is why great importance should be given to the proper organization of the banking system.

Current situation

In recent years, the banking system of the Russian Federation has been actively developing. The conditions for banking services have become more transparent, credit institutions are striving to be open to clients. Advanced technologies are constantly being introduced: Internet banking, money transfers, various cards and much more. New offers appear on favorable conditions on lending.

Despite this, the Russian banking system noticeably lags behind other countries and does not meet the economic challenges facing the country. A huge number of people do not use banking services. According to statistics, about 25% of Russians have bank accounts. IN developed countries, for comparison, every adult has them. Not many people use it bank cards, whereas in other countries there are 1-2 cards per resident. The issue of introducing banking services in the regions is also acute.

The reasons for the problems of the banking system of the Russian Federation include the following:

1. The Russian economy is supported by the oil industry, so the government does not pay enough attention to the growth of the banking sector. On at the moment a model of the system necessary for the country has not been created, and there are no conditions for its development. This has a negative impact on the organization of the banking system of the Russian Federation.
2. The system is unattractive to investors, and its capitalization is low.
3. The level of monetization of the country's economy is low, which also hinders the development of the system.
4. There is no protection of commercial banks from the state, and they are the center of the entire banking system.
5. The infrastructure is not developed enough.
6. A large amount of money passes through the banking system.

PLAN:

Introduction……………………………………………………2

1. Banking system in the Russian Federation. ……………………………3

2. Central bank and its functions. ……………………….6

3. Monetary credit policy. …………………………….7

4. Commercial banks. ……………………………………….9

4.1. Principles of activity of commercial banks. ……9

4.2. Functions of commercial banks. ………………………10

5. Interaction between commercial banks and the Central Bank in Russia. ……………………………………………...10

Conclusion. ………………………………………………………11

List of used literature. ………………………12

INTRODUCTION.

Currently, the study of the banking system is one of the pressing issues of the Russian economy. Many modern businessmen have devoted themselves to the topic of studying and analyzing the functioning of banks in Russia and creating the best conditions for their successful work. Legislative bodies pay a lot of attention to developing new concepts for the work of the country's banks. Until now, the banking system in Russia has a lot of contradictions and its imperfections, I think, led our country to a financial crisis. It should be noted that in recent years Russia has experienced economic growth and it is necessary to take into account that the banks of our state have played and will probably play a significant role in this in the future.

It is very important that there is a significant increase in financial resources and savings, which are growing in all sectors of the economy, primarily due to an increase in export earnings and the effect of import substitution. This applies both to the household sector, as evidenced by deposit statistics, and to the enterprise sector, where the figures are even higher. It seems that this process represents a huge challenge for the banking system, which receives these resources and must manage them correctly. Even the budget sector, which has a surplus, has become a source of growth in national savings, which must also be used rationally and most productively.

Therefore, in the situation in which we now find ourselves Russian economy, the most important task is to ensure that these financial resources, which are being generated within the country and which will soon come from outside, are transformed into real economic projects and in real investments.

The role of the banking system here is extremely important. If the banking system actively participates in this process, then the pace of investment activity can increase significantly, which will create the basis for long-term high economic growth in the coming years. This is quite real. However, there is no clear evidence that the banking system is coping or is ready to respond to these powerful challenges. real economy, Not yet. Unfortunately, the share of loans to the real sector in the overall structure of bank assets has decreased. If
compare this level with those of other countries, even European countries with a transition economy, it turns out that we are at the very beginning of the path to effective financial intermediation, we are just acquiring a banking system that should respond to financial needs growing economy, are already quite acute and require the activity of financial intermediaries.

1. Banking system in the Russian Federation.

The modern banking system of Russia is represented by two levels. Legally, it is based on the special laws adopted on December 2, 1990 by the Supreme Council of the RSFSR: the RSFSR Law “On Banks and Banking Activities of the RSFSR” and the Law “On the Central Bank of the RSFSR (Bank of Russia)”, as well as the new edition of the RF Law “On Banks” and banking activities”, adopted in July 1995.

These Russian laws made fundamental changes to the then existing credit and banking system of the country, marking the beginning of a qualitatively new stage in the development of this system and its legal support.

According to the legislation in Russia it has become possible creation bank on the basis of any form of ownership, which marked the beginning of the elimination of the state monopoly on banking activities.

The new version of the Law of the Russian Federation “On Banks and Banking Activities”, adopted in July 1995, notes that the Russian banking system includes the Bank of Russia (this is the official name of the Central Bank), credit organizations, as well as branches and representative offices of foreign banks.

The Law “On Banks and Banking Activities” provides for the possibility of the presence of banks providing foreign capital on the Russian credit market, defines the conditions for licensing their activities and the powers of the Bank of Russia in relation to the formation of their authorized capital.

Of exceptional importance was the consolidation at the legislative level of the principle of independence of banks from government authorities and management when making decisions related to conducting banking operations.

In accordance with this Law, a credit organization is a legal entity that aims to make a profit and, on the basis of a license from the Bank of Russia, has the right to carry out banking operations. The composition of banking operations is also provided for in the Law “On Banks and Banking Activities”.

Credit organizations are divided into banks and non-bank credit organizations.

Bank is a credit organization that has the exclusive right to carry out the following banking operations in total:

Attracting funds from legal and individuals;

Placement of these funds on your own behalf and at your own expense on the terms of repayment, urgency and payment;

Opening and maintaining bank accounts for individuals and legal entities;

Purchase from legal entities and individuals and sale to them of foreign currency (cash and on accounts);

Attraction and placement of precious metals in deposits;

Financing of capital investments on behalf of owners or managers of deposits.

Non-bank credit organization is a credit organization that has the right to carry out certain banking operations provided for by this Federal Law. The acceptable combination of banking operations for non-bank credit institutions is established by the Bank of Russia. As a result of the adoption and enforcement of the above laws, the Russian credit and banking system acquired next view.

Central Bank of the Russian Federation (Bank of Russia),

Savings bank,

Commercial banks various types, including special banks development,

Banks with mixed Russian-foreign capital;

Foreign banks, branches of resident and non-resident banks,

Unions and associations of banks,

Other credit institutions.

The new banking legislation has introduced fundamental changes not only in the elemental composition credit and banking system, but also the very principles of constructing and managing this system. The Russian banking system is acquiring a two-level structure. In this case, the criterion for assigning elements to one or another level is their position in the system, determined by the relationships of subordination. Thus, the Central Bank is located at the top level, since it is authorized by the state to regulate and control the system as a whole, i.e. carry out the function of managing the entire system. As for commercial banks and credit institutions, then they constitute the lower level of the system.

The entire variety of commercial banks can be classified as follows.

The following groups can be distinguished as part of commercial banks:

Created on the basis of previously functioning specialized banks,

- “industry banks”, formed to serve mainly industry clientele.

Conventionally called “new” banks, organized on the initiative of various founders.

By type of ownership, state, private, cooperative, and mixed banks are distinguished.

Depending on the organizational and legal form of activity, commercial banks are divided into joint stock companies, limited liability companies, limited partnerships, etc.

According to the territory of activity, banks are divided into republican and regional (or land - in Germany, for example), cantonal (in Switzerland), interregional, local, national, international, foreign.

The Law “On Banks and Banking Activities” also envisages the creation of municipal banks, which regional level are formed by a decision of local authorities, and at the federal level by a separate law.

According to the degree of independence, there are independent, subsidiaries, satellites (fully dependent), authorized (agent banks), and associated (participating in each other's capital) banks.

By the presence of branches, with branches and without branches.

According to the degree of capital diversification: single-profile (engaged only in banking operations) and multi-profile (participating in the capital of non-banking enterprises and organizations).

The types of operations performed differ.

Depository banks themselves, engaged in accepting deposits and issuing short-term loans;

Investment banks- in addition to deposit operations, they are engaged in placing their own and borrowed funds V securities, act as intermediaries between entrepreneurs who need funds for medium- and long-term investments, and long-term investors;

Mortgage banks- like other banks, they accumulate funds of legal entities and individuals by issuing shares and bonds, but their peculiarity is that they are secured by real estate contributed to the bank as authorized capital and collateral, which is one of the proven mechanisms of the guarantee system accepted in the world loan repayment.

The modern banking system of the Russian Federation is the result of reforming the state credit system, which operated during the period developed socialism in a centrally planned economy. The legal basis of the modern banking system of Russia consists of the following Federal Laws: “On Banks and Banking Activities”, “On the Central Bank of the Russian Federation (Bank of Russia)”. The definition of the banking system, credit institutions and banks is legislated, the goals and objectives of the activities of the Bank of Russia, banks and non-bank credit institutions are established, the types of banking operations and transactions are specified, the procedure for the creation, liquidation and regulation of the activities of credit institutions, their financial recovery and bankruptcy is established, etc. .p.

The modern banking system of Russia operates on the following principles established by law:

1. The principle of a two-tier structure assumes the separation of the functions of the Bank of Russia and all other banks. The Central Bank of the Russian Federation is the top level of the banking system and performs the functions monetary credit regulation, banking supervision and management of the settlement system in the country. Commercial banks and other credit organizations form the second, lower level of the banking system. Their competence includes operations related to intermediation in settlements, lending and investing, but do not take part in the development and implementation of monetary policy. The Bank of Russia sets indicators of the money supply, interest rates, inflation rates, etc., which the banks of the latter are guided by in their activities. Commercial banks are required to comply with the standards and requirements of the Bank of Russia regarding the level of capital, the creation of reserves, etc.

2. The principle of universality of business banks means that all banks operating on the territory of the Russian Federation have universal functionality, i.e. have the right to carry out all provisions provided for by current legislation and banking licenses operations, both short-term commercial and long-term investment. In the Russian Federation, legislation does not provide for the specialization of banks by types of their operations, but commercial banks can choose areas of banking activity and client segments in accordance with their policies, if this does not contradict current legislation. The universal status of banks makes it possible to reduce risks through the diversification of services, provides comprehensive customer service and maximum consideration of the specifics of each group of clients when developing new banking products.

3. The principle of the commercial orientation of the activities of second-tier banks is expressed in the fact that, according to current legislation, the main purpose of the activities of banks and credit organizations in the Russian Federation is to make a profit.

The modern banking system of Russia includes the Bank of Russia, credit organizations, branches and representative offices of foreign banks.

Bank of Russia - main bank in the Russian Federation. Its authorized capital (in the amount of 3 billion rubles) and other property are federal property. The Bank of Russia exercises the authority to own, use and dispose of the property of the Bank of Russia. It performs the functions of monetary regulation, banking regulation and supervision and at the same time is the settlement center of the banking system.

A credit organization is a legal entity that, in order to make a profit as the main goal of its activities, on the basis of a special permit (license) of the Bank of Russia, has the right to carry out banking operations, according to the legislation of the Russian Federation. All credit organizations licensed by the Bank of Russia are included in the banking system. According to the Federal Law of 02/03/1996 No. 17-FZ “On Banks and Banking Activities”, it is possible to create two types of credit organizations in the Russian Federation: non-bank credit organizations and banks.

Non-bank credit organizations licensed by the Bank of Russia are divided into three types: settlement, deposit-credit and non-bank collection credit organizations.

A bank is a credit organization that has the exclusive right to carry out in aggregate the following banking operations:

· attracting funds from individuals and legal entities into deposits;

· placing these funds on your own behalf and at your own expense on the terms of repayment, payment and urgency;

· opening and maintaining bank accounts for individuals and legal entities.

In accordance with the principle of universality, all Russian banks can develop as universal banks. Universal status does not exclude the possibility of voluntary specialization of banks in certain products, operations or types of activities. Voluntary specialization within the framework of universal status assumes that full responsibility for decisions regarding the choice of sphere business activity are borne by the banks themselves and their founders. However, regardless of the chosen area of ​​activity and the niche they occupy in the banking services market, all banks are subject to the same standards of banking legislation. The Central Bank of the Russian Federation imposes the same requirements on them and establishes uniform standards regulating their activities.

Branches of foreign banks are currently not represented in the banking system of the Russian Federation, which is due to the policy of the Bank of Russia aimed at protecting the interests of national banks. Foreign banks can be present in the Russian banking market only by creating subsidiary banking structures, which are registered according to the rules established Russian legislation and become residents of the Russian Federation.

Representative offices of foreign banks represent their interests on the territory of the Russian Federation, but do not conduct banking operations.

Based on the ownership of capital, all banks operating in the Russian Federation can be divided into three groups:

· banks based on private property(their owners are non-state enterprises and private individuals);

· banks with state participation in capital;

· banks with foreign capital participation.

In the group of private banks, we can distinguish banks controlled by one owner or a group of related owners, and banks with a diversified ownership structure. The former are characterized by a consistently high margin in the loan portfolio of large loans per borrower; a significant part of the loans is provided to borrowers associated with the lending bank. Banks of the second subgroup are focused on serving a wide group of market clients and are distinguished by a diversified structure of services and an active marketing policy.

Depending on their size, private banks are divided into large and medium and small banks.

Banks with state participation are banks in the capital of which organizations representing the state participate. The forms and procedure for the participation of federal property in the authorized capitals of credit institutions are determined separately for each bank. federal laws. Participation of constituent entities of the Russian Federation and authorities local government with their property and funds in the formation of authorized capitals of credit organizations is possible only on the basis of a special legislative act of a constituent entity of the Russian Federation or a decision of a local government body. At the same time, the state exercises its participation in the capitals of banks both through executive authorities, state unitary enterprises at the federal level and the level of constituent entities of the Russian Federation, and through the participation in them of federal-level organizations that are not among the executive authorities - the Bank of Russia and Russian Fund federal property (RFFI).

Banks with foreign participation are banks in which a certain share in the authorized capital belongs to non-residents - legal entities and individuals. In this group of banks, banks controlled by foreign capital are especially distinguished, i.e. banks, controlling interest whose shares are owned by non-residents. The main activities of credit institutions controlled by foreign capital are:

· lending to foreign trade and servicing foreign trade turnover between the country where the foreign bank is located and the Russian Federation;

· banking services to firms in the bank’s country of origin and transnational corporations operating in the Russian market;

· providing a range of modern banking services to national enterprises and organizations;

· financial intermediation between foreign and Russian financial markets.

Banks with a predominant participation of foreign capital, as a rule, are subsidiaries of well-known foreign banks. Through the establishment of subsidiary banks, foreign banks accompany their global clients coming to Russian market. Subsidiary banks Along with the balances on settlement and current accounts of clients, they widely use loans from parent banks to form their resources; recently there has been an increase in the share of deposits of individuals in the structure of their liabilities. They can also resort to borrowing on international financial markets.

The peculiarity of the modern Russian banking system is the predominance of small and medium-sized banks in it, while in the main industries national economy still dominate large enterprises, requiring large amounts of external financing. One of possible ways To overcome the contradiction between the structure of the banking system and the structure of the real sector is the creation of banking groups and bank holding companies, which is provided for by the current banking legislation.

A banking group is an association of credit institutions that is not a legal entity, in which one (parent) credit institution directly or indirectly (through a third party) has a significant influence on decisions made by the management bodies of other credit institutions.

A bank holding company is a non-legal entity association of legal entities with the participation of credit organizations, in which a legal entity - not a credit organization (the parent organization of the bank holding company) has the opportunity to directly or indirectly (through a third party) have a significant influence on decisions made by the management bodies of credit institutions. organizations. A commercial organization acting as the parent organization of a bank holding company, in order to manage the activities of credit institutions included in the holding, can create a management company of the bank holding company in the form of a business company, the main activity of which is to manage the activities of credit institutions included in the bank holding company. Head commercial organization must be able to determine decisions of the management company of a bank holding company on issues within the competence of the meeting of its founders, including its reorganization and liquidation.

Credit organizations that are part of the banking system can create unions and associations that are not intended to make a profit. The purpose of their activities is to protect the interests of member organizations and coordinate their efforts in various areas. Unions and associations of credit institutions are prohibited from carrying out banking operations, and the largest in the Russian Federation are the Association of Russian Banks (ARB) and the Association of Regional Banks of Russia (Association “Russia”).

Along with federal-level associations, territorial ones are being created and operate in the Russian Federation. banking unions(associations) that represent the interests of credit institutions at the regional level.

Security questions

1. Features of modern financial policy RF?

2. What are the factors influencing the formation of the financial policy of the Russian Federation in 1991–2001?

3. What's the point? financial crisis 1998?

4. Describe financial policy in the period 1992–2001.

5. Causes and results monetary reforms modern period.

6. Give a description of the modern banking system in Russia.

Banking system is an internally organized, interconnected set of credit institutions of a particular state, united by common goals and objectives.

Formation of the banking system of the Russian Federation:

1) in the early 80s. XX century The banking system was represented by three large state banks:

– State Bank of the USSR;

– Stroybank of the USSR;

– Vneshtorgbank of the USSR.

These banks were monopoly structures that, along with servicing their clients, performed power functions with a number of control powers;

2) in the mid-80s. XX century Six state banks emerged:

– State Bank of the USSR;

– Agroprombank of the USSR;

– Promstroibank of the USSR;

– Zhilsotsbank USSR;

– Vneshtorgbank of the USSR;

– Sberbank of the USSR.

In terms of their functions, they practically did not differ from the previously operating three banks of the USSR;

3) in 1988, seven cooperative banks were created, which were established on the basis of the free will of their founders.

The banking system of the Russian Federation includes:

a) Bank of Russia;

b) credit organizations;

c) branches and representative offices of foreign banks.

The banking system also includes specialized organizations that do not carry out banking operations, but support the activities of banks and credit institutions.

Modern credit system is a collection of a wide variety of credit and financial institutions operating in the loan capital market and carrying out the accumulation and mobilization of income, consisting of several institutional links or tiers:

1) central bank;

2) banking sector:

– commercial banks;

– savings banks;

– mortgage banks;

3) insurance sector:

– insurance companies;

– pension funds;

– specialized non-bank credit institutions.

The main part of the credit system is the banking system, which involves a system of banking institutions.

Known several types of banking systems:

– two-tier banking system;

– centralized monobanking system;

– unique decentralized banking system – Federal backup system USA.

Currently in the Russian Federation there is a 2-level banking system structure:

– the first level is represented by the Central Bank;

– second level – commercial banks of various profiles, as well as branches and representative offices of foreign banks.

In addition to the 2-tier structure of the banking system, there is decentralized Federal Reserve System (US Fed). It is led by 12 Federal Reserve Banks in various regions of the country, which:

1) exercise control over the activities of banks that are members of the Federal Reserve System;

2) determine the direction monetary policy USA.

The history of the development of banking also knows such a type of banking system as centralized monobank. The banking system of the USSR and many other socialist countries was built according to this type. The monopoly meant that loans often served as a second budget. Under these conditions, the effective potential of the credit mechanism was not used; it was not possible to pursue an active monetary policy using the tools that are known in countries with market economies.

Russian banking system has a two-level structure. The first level is represented by the Central Bank of the Russian Federation. The second level includes banks and non-bank credit organizations, as well as branches and representative offices of foreign banks.

The first level includes the Central Bank of the Russian Federation, the type of functions and powers of which distinguish it from other banks. First of all, this is the establishment and methodological support of the rules for carrying out and accounting for banking operations, issuing cash (issue), organizing payment circulation, licensing banking activities and supervising all credit organizations, regulating banks and other credit organizations through accounting, reserve policies and establishing for them mandatory economic standards. Due to its functional purpose, the Central Bank of the Russian Federation occupies a special place in the banking system.

The second level of the banking system includes credit organizations. These include: a bank and a non-bank credit organization, Russian banks with foreign capital or branches of foreign banks. The main purpose of credit institutions is to conduct banking operations for credit, cash settlement and deposit services for clients and subjects of economic relations.

The basic elements of the banking system of the Russian Federation include: credit organizations, banking infrastructure, banking legislation.

Credit organization - This is a legal entity that, in order to make a profit as the main goal of its activities, on the basis of a special permit (license) of the Central Bank of the Russian Federation (Bank of Russia), has the right to carry out banking operations provided for by the Banking Law.

Bank- a credit institution that has the exclusive right to carry out the following banking operations in aggregate: attracting funds from individuals and legal entities as deposits, placing these funds on its own behalf and at its own expense on the terms of repayment, payment, urgency, opening and maintaining bank accounts of individuals and legal entities.

Non-bank credit organization(NPO) - a credit organization that has the right to carry out certain banking operations. Acceptable combinations of banking operations for non-bank credit institutions are established by the Bank of Russia. Nonprofit organizations can carry out settlement, deposit, and credit operations, as well as collection of funds, bills, payment and settlement documents.

Banking group - This is an association of credit organizations in which one (parent) credit organization directly or indirectly (through a third party) has a significant influence on decisions made by the management bodies of another (other) credit organization.

Bank holding - an association of legal entities with the participation of credit institutions, in which a legal entity that is not a credit institution (the parent organization of a bank holding company) has the ability to directly or indirectly exert a significant influence on decisions made by the management bodies of the credit institution.

The procedure for opening and operating branches and representative offices of foreign banks on the territory of the Russian Federation is regulated by special legislative acts. The Bank of Russia sets restrictions on banking operations for branches and representative offices of foreign banks.

Russian banks not isolated from the external environment. To fulfill your economic functions They demand a number of important services that are provided by the banking infrastructure. The importance of banking infrastructure has been increasing in recent years. It is understood as a set of institutions that create the necessary conditions for the implementation of banking activities and facilitate the creation and delivery of banking services to their consumers. These include:

§ a deposit insurance system that ensures the safety of citizens’ deposits in banks within established by law norms, which is carried out by the Deposit Insurance Agency (AS B), specially created by the state;

§ independent payment systems that assist in settlements between organizations and banks, for example SWIFT, and payment transactions using plastic cards, for example VISA. MasterCard, American Express;

§ audit organizations that provide independent verification of the activities of both commercial banks and the Central Bank of the Russian Federation and confirmation of their financial statements;

§ consulting and legal organizations that help banks develop their business, representing the interests of banks in interaction with clients and authorities;

§ educational organizations that provide training and retraining of banking specialists, conducting various seminars and advanced training courses, without which, given the complexity of modern banking, it is impossible to imagine the normal functioning of a bank.

7Monetary policy of the Central Bank. Answer

The Central Bank of the Russian Federation (Bank of Russia) is a state credit institution vested with the right to issue banknotes and regulate money circulation, credit and exchange rate, storage of the official gold and foreign exchange reserve. It is a bank of banks, an agent of the government in servicing the state budget.

The Central Bank of the Russian Federation is also vested with the right to issue money and government securities, establishes the standard value of credit demand, stores the cash reserves of commercial banks and provides them with loans, and is a cash center. Its main task is to implement state policy in the field of emissions, credit, and money circulation.

Monetary policy is a set of interrelated measures taken by the Central Bank in order to regulate aggregate demand through the planned impact on the state of credit and money circulation. One of necessary conditions effective economic development is the formation of a clear mechanism of monetary regulation, allowing Central Bank influence business activity, control the activities of commercial banks, and achieve stabilization of money circulation. The specifics of the economic and organizational foundations of monetary policy are determined by the specifics of its objects and subjects. Objects Monetary policy is supply and demand in the money market. Subjects First of all, the central bank acts in accordance with its inherent functions as a conductor of monetary policy, the state and commercial banks. The basis for the development and reliable, sustainable functioning of the banking system is the formation of a flexible mechanism for monetary regulation of the economy, allowing the state to effectively influence economic activity and control activities banking institutions, to achieve stabilization of monetary circulation.

Monetary Policy Objectives.The fundamental goal of monetary policy is to help the economy achieve an overall level of output characterized by full employment and no inflation. Monetary policy consists of changing the money supply to stabilize aggregate output, employment, and the price level. The Central Bank is the main, but not the only regulatory body. With the help of credit regulation, the state seeks to mitigate economic crises, to curb the growth of inflation, in order to maintain the economic situation, the state uses credit to stimulate investment in various sectors of the national economy. Credit policy is carried out by indirect and direct methods of influence. The difference between them is that the central bank either has an indirect effect through the liquidity of credit institutions, or sets limits on lending to the economy (i.e. quantitative credit restrictions). In a highly developed market economy Monetary policy is based on the principle of “compensatory regulation”. The principle of compensatory regulation includes a combination of two sets of measures: policies monetary restriction(restrictions on credit operations, increases in interest rates, slowdown in the growth rate of money supply in circulation); · monetary expansion policy (stimulating credit operations by reducing the interest rate and increasing the money supply in circulation). The policy of monetary restriction (policy " expensive money") is used in conditions of cyclical revival of economic conditions. The policy of monetary expansion (the policy of “cheap money”) is applied in the crisis phase of the cycle, in conditions of falling production and increasing unemployment. It consists in stimulating the credit operations of banks, introducing more preferential terms lending for the purpose of economic recovery.

The monetary policy of the state is carried out through the Central Bank of the Russian Federation, as a rule, in two directions: carrying out an expansionary or expansive policy aimed at stimulating the scale of lending and increasing the amount of money. Depending on the economic situation, the Central Bank makes loans more expensive or cheaper for commercial banks, and, accordingly, for borrowers. If the economy experiences a decline in production and unemployment rises, then he pursues a policy of cheap money, which makes loans cheap and accessible. In parallel, there is an increase in the supply of money, which leads to a decrease in the interest rate and, accordingly, should stimulate the growth of investment and business activity, as well as real Gross National Product (GNP). If competition intensifies in the financial market and the supply of money outstrips the demand for it, banks are forced to reduce the interest rate (the price of money) in order to attract borrowers. This is especially evident in a depressed economy. Cheap loan encourages businesses to invest in capital goods and households to buy consumer goods. There is an increase in demand in the commodity market, and the preconditions for economic growth are created. This policy is carried out during a period of stagnation;

Carrying out a restrictive or restrictive (tough) policy aimed at increasing the interest rate. With rising inflation, the Central Bank pursues a policy of expensive money, which leads to an increase in the cost of credit and makes it difficult to access. In this case, there is an increase in the sale of government securities by open market, growth of the reserve norm and increase in the discount rate. High interest rates, on the one hand, encourage money owners to save more, and on the other hand, limit the number of people willing to borrow money. In this case, market participants seek to purchase securities. This direction of regulation is used in the presence of inflation and high rates of economic growth. Banks seek to earn money on interest on loans by pocketing the difference between income from active operations and expenses incurred to raise funds. As you know, the interest rate depends on the inflation rate and even on inflation expectations. If prices rise, but the interest rate remains unchanged, then both banks and depositors will receive back the depreciated money. When the economy is booming, when everyone needs money, interest rates will rise. The Central Bank of the Russian Federation considers the main task of monetary policy for the medium term to be reducing inflation while maintaining and possibly accelerating GDP growth while simultaneously creating the prerequisites for reducing unemployment and increasing real incomes of the population. Monetary The policy is intended to promote the establishment of an overall level of production in the economy characterized by full employment and the absence of inflation.