The banking system of Russia. Modern banking system of Russia, its structure and development Domestic banking system

In the Russian financial and banking sector, two definitions are especially widely used - credit and banking systems. These two concepts have significant differences, despite the fact that they may seem similar.

In contrast to the credit, the banking system is not understood as the totality of several banking organizations, but the consolidation into one large group of such structures as the Central Bank, divisions of foreign banks opened in Russia.

What is the banking system

At the legislative level in Russia, the concept and structure of the banking system of the Russian Federation were established. The main Russian banking branch - the Central Bank of the Russian Federation has several subdivisions. Each of them is a rather significant and separate link in the structure. These links include various branches of foreign banks, as well as branches of Russian organizations.

No organization operating in a group of credit institutions can seek to obtain benefits and profits, since this would be considered a violation of the law. This applies to all divisions of the banking structure. Groups of credit institutions and holdings can be created.

The main signs are:

the presence of uniform elements aimed at achieving certain goals;
special properties that are important in banking;
interchangeability of various elements;
high dynamics;
closed type of business;
self-regulation.

The elements of this system include specialized structural financial elements that perform many functions, but do not have the status and license of a bank. The main characteristic feature of the main Russian bank is considered to be that it performs two very important functions - undertakes all the tasks of the economic body, but is also a state institution. This imposes certain powers and features on its activities. Despite the fact that the Central Bank of the Russian Federation is considered a government agency, it is not a source of executive power.

The banking system of the Russian Federation - its structure and main features

The specialists identified the structure of the banking system of the Russian Federation:

issuer, central Russian bank performing all basic functions;
commercial branches, performing special special functions, as well as universal and savings. Often there are investment and mortgage companies on the market;
additional, independent organizations- pawnshops, insurance companies.

The main financial institution of the country, which is the repository of reserves of commercial institutions, is the Central Bank of Russia. He not only takes on the functions of a creditor, but also pursues a very important goal, organizes and performs mutual deductions for all monetary obligations.

Also, it should be noted what is included in the structure of the banking system of the Russian Federation:

The main, central management apparatus.
Institutions located in different regions of the country.
Settlement centers, cash centers.
Computing and documentation centers.
Field institutions.
Educational and security institutions.

The presence of a functional structure ensures the existence of some separate establishments. These include, for example, Departments of Management.

Functional credit system: structure and features

The definition of a functional system should be understood as the allocation of a separate group of credit services provided by banks. This includes consumer, commercial and mortgage loans not only to citizens, but also to legal entities.

Each type of loan has its own characteristics and is part of the structure:

Commercial- issued when certain trading operations are performed in the event that it is required to defer payment for the goods to the supplier. An invoice or bill of exchange is issued.
Consumer- a small loan given to the population for needs, for example, for the purchase of goods.
Mortgage- a loan issued for a long term for the purchase of real estate. Can be issued on bail. This type of loan can be obtained only in a specialized institution.
Tax- a deferral issued by the state so that the taxpayer has the opportunity to pay off the debt.
State- some part of the loans is issued by the state, which is not only the guarantor of ensuring and observing the rights of all parties, but also the creditor. It can also act as a borrower of funds.

The central office - the Central Bank of the Russian Federation - regulates the activities of all organizations that provide loans and borrowings to the population, both short-term and long-term.

Basic concepts and structure of the institutional system

Various organizations carry out their activities in the credit sphere. Their totality is considered to be a functioning institutional system. The structure of such a system looks like this:

Central Bank;
an integral banking group, which includes organizations that provide the population with mortgage and savings services;
non-banking institutions - pawnshops, insurance companies.

The structure is based on credit institutions that carry out activities based on the placement and attraction of money. They may be banking and non-banking. The main part of the system is considered to be the divisions of banks operating in Russia. They constitute a certain group, while the activities of such banks are carried out in accordance with the norms of the current general mechanism.

Basic elements of the banking system of the Russian Federation

The initial and most important components of the system in Russia include the internal infrastructure of financial institutions, credit departments, as well as norms and laws issued to regulate activities. In Russia, banks use some of the services defined by the banking infrastructure to carry out their basic functions.

No bank or credit institution could carry out its activities without the existence of such institutions as:

widespread systems for making payments not only in Russia, but also around the world - Visa and MasterCard;
organizations that insure client deposits, ensuring the safety of all money invested in the bank;
independent verification and preparation of an audit report;
advice on legal issues, in particular, in the field of activities in the financial market;
departments for the training and retraining of specialists.

The Constitution of Russia and the law issued to regulate banking activities specify the rules that all banking organizations must comply with.

Three-tier system model

After the adoption in Russia of the Law "On Credit Consumer Cooperatives", banks acquired the main features of a three-tier system:

First, upper level: The main Russian branch of the bank is the Central Bank. This can also include the main office and department, as well as centers for the production of settlements, national offices.
Second level, middle: organizations that have the right to operate in the field of commerce. In particular, they carry out transactions with finances. This also includes those organizations that operate separately.
Third, lower level: consumer and agricultural cooperatives.

The division into levels is made so that the system works smoothly, and each department performs its functions.

Classification of Russian banks by functions performed

It is possible to single out a certain classification by distributing all types of banks and credit organizations according to the functions they perform and the form of activities:

according to the functions performed- issuing organizations, banks with deposit accounts, commercial branches;
in the form of doing business from the point of view of law- JSC and JSC;
by ownership- distinguish between private and public. There is also another type - mixed cans;
by type of operations- carrying out specialized operations, or universal banks;
depending on what operations are performed, banks can be- specialized, universal;
by operating branches and their number- without a branch or with branches;
by type of service and industry- general, national, international.

The activities of various services and agencies that make up the structure are necessary to ensure the life of banks.

Historical features of the creation of the system and its formation

The structure of the banking system of Russia was created historically, because without a clear organization of activities, the work of banks is impossible. Development has been going on over time. There are several stages passed:

Creation of a developed, complete system, consisting of several large, specialized banks.
Creation of a legal framework, publication of laws regulating banking activities.
Changes in laws associated with the collapse of the USSR and the formation of a full-fledged banking system, consisting of two levels - the Central Bank of the Russian Federation and commercial branches.

So, in the process of forming the structure, various stages, recessions and rises were passed:

active development and improvement of the system;
destabilization;
the emergence of a global crisis in the system;
recovery period;
improvement of activities, development of the structure in the context of a global, large-scale crisis in the economy.

High inflation contributed to the development of the banking system, in particular, credit institutions. At the same time, long-term lending was not carried out, since interest rates on loans, even high ones, did not cover inflation. Simultaneously with the creation of laws before the collapse of the USSR, many large banks became the mainstream of the emerging system.

Structural divisions of the banking system - credit and financial institutions

At its core, the banking system is the main element of various associations. System components:

Unions and divisions of organizations included in the "credit" group: can carry out any financial activity without pursuing the goal of making a profit.
International banks: International banks opened on the territory of Russia are independent, since, in accordance with the concluded agreements, they can carry out their activities without coordinating it with the Central Bank.

Some organizations and credit institutions, in turn, are part of the system and may be institutions of national rank.

The main structural elements of the banking system

In the process of developing the banking infrastructure for the normalization of activities, the following elements were identified:

Legal acts, norms aimed at regulating activities, determining the status of an organization. Without legal documents, including a license, the bank cannot operate. Otherwise, a violation of the law may be recorded.
To protect our own and client's interests, certain legal regulations apply. Thus, commercial banks must independently establish the rules for conducting business. This often has a negative impact on performance and leads to errors.
Processing the received data on a computer, creating a database for data analysis. This is necessary in order to establish a workflow.
Bank divisions, management structure.

The external structure of the bank includes personnel, information and scientific support.

Main sectors of the structure

The banking structure is also divided into several sectors. This separation is necessary to improve efficiency and create new directions that will simplify activities. There are three sectors in the system:

organizations that issue consumer loans;
leasing institutions;
land banking organizations.

The banking system, first of all, is formed by the banks themselves. They can carry out their activities and develop successfully only in close interaction with other structural elements, which, first of all, include the banking infrastructure.

The banking system of the Russian Federation is a single and integral (interconnected, interacting) set of credit institutions included in the country's economic system, each of which performs its own special function (functions), maintains its own list of monetary transactions / transactions, as a result of which the entire volume of society's needs for banking products (services) are fully satisfied and with the highest possible degree of efficiency.

The banking system of the Russian Federation includes the Bank of Russia, credit institutions, as well as branches and representative offices of foreign banks.

Structurally, this should be understood in such a way that the banking system should include all those economic organizations that regularly carry out either all or most, or at least individual banking operations / transactions, i.e. banks (central and commercial) and de facto non-bank credit institutions (not only those registered with the Central Bank), but as a conditional element of an infrastructural nature, auxiliary organizations (specialized organizations that do not conduct banking operations themselves, but ensure the activities of banks and other credit institutions: "trading floors", firms for the audit of banks, organizations that determine the ratings of banks, providing them with special equipment and materials, information, specialists, etc.).

Many misunderstandings are usually raised by the question of the levels of the banking system. The author of the textbook "Banking: Management and Technologies" A.M. Tavasiev argues that a developed banking system as an element of a market

Rice. 1. The structure of the banking system of the Russian Federation

the economy should and can only be two-tier. Banking: Management and Technologies: Textbook for Universities / Edited by Professor A.M. Tavasiev. - M .: UNITI-DANA, 2001 .-- P.28. However, the author of another textbook "Banks and banking" IT Balabanov believes that in countries with developed market economies, the banking system is more complex and organizationally more diverse and consists of three links. (Fig. 2.) Banks and banking. / Ed. I.T.Balabanov. - SPb .: Peter, 2001 .-- S. 38, 42.

The elements of the banking system are banks, some special financial institutions that perform banking operations, but do not have the status of a bank, as well as some additional institutions that form the banking infrastructure and ensure the life of credit institutions.

The banking system consists of 4 elements, which are grouped into 2 levels. The first level is the Central Bank of the Russian Federation. The second level is made up of commercial banks (their branches and representative offices), non-bank credit organizations and associations of commercial banks. The Central Bank occupies a special place, performing the role of the main coordinating body of the entire banking system of the country. The Central Bank (CB) performs the following functions:

Ш monopolistically issues money into circulation;

(b) Central banks



Commercial banks	Savings banks	Investment banks	Mortgage banks	Specialized industry banks
(d) Specialized non-bank financial institutions
Investment funds	Investment companies
Pension funds	Financial company
Insurance company	Pawnshops
Charitable foundations	Loan associations	Credit unions

Rice. 2. The structure of the three-tier banking system

Ш keeps temporarily free funds and mandatory reserves of other banks, i.e. acts as a "bank of banks";
Ш plays the role of "creditors of last resort", i.e. providing a loan only if it is not available on acceptable terms elsewhere, mainly for short-term needs:
Ш carries out non-cash payments on a national scale;
Ш conducts cash execution of the budget and credits the state;
Ш regulates the exchange rate of the national currency and coordinates the foreign activities of private banks in their country;
Ш keeps a centralized gold and foreign exchange reserves;
Ш establishes economically justified limits and standards for the activities of banks, incl. the official rate of the Central Bank on loans;
Ш conducts scientific research;
III determines the legal framework and principles of functioning of credit and financial institutions, markets for short-term and long-term credit transactions, as well as the types of payment documents circulating in the country;
Ш forms an effective mechanism for monetary regulation of the economy.

The main task of the Central Bank's monetary policy is to maintain a stable purchasing power of the national currency and ensure an elastic system of payments and settlements.

Commercial (non-issuing) banks are the second tier of the banking system and at the same time they are the backbone of the credit system, which concentrates the bulk of its credit institutions. Their activity is quite large, therefore they are also called universal banks. Today commercial banks are able to offer clients up to 200 types of various banking products and services. Recently, banks have been increasingly actively carrying out operations uncharacteristic for them, penetrating into unconventional areas of financial entrepreneurship for banks, including leasing, factoring, forfeiting and other types of credit and financial services.

Another element of the banking system is the banking association - a public non-profit organization, whose members are commercial banks, created to represent their interests in the legislative, executive, and judicial authorities, as well as to coordinate and improve their activities.

The main issue related to the banking system is the issue of its quality, i.e. about its viability and efficiency of functioning in the composition and in the interests of the country's economic system as a whole. Ultimately, it is from this point of view that the issues of the number of credit institutions and their groupings into certain elements and levels of the system are also interesting.

Not every aggregate of credit institutions, no matter how many there are in the country, constitutes a banking system. The system really exists if the following criterion conditions are met.

1. There are sufficient numbers of banks and non-bank credit organizations operating in the country. At the same time, the "sufficient" value can be determined only empirically, and in relation to the conditions of a specific territory, when the main reference point is the volume of the solvent needs of enterprises, organizations and the population in banking services.
2. Banking operations in the country are carried out only by licensed credit institutions.
3. The central bank operates in the country and effectively copes with its inherent functional duties and established powers.
4. There are a variety of economically feasible (profitable) saws of commercial banks and non-bank credit organizations (by ownership, organizational and legal forms, size or scale of activity, territorial basis, nature of activity, etc.), covering all spheres of the national economy and foreign economic relations, which occupy all the really existing segments (niches) of the financial and loan capital market, carrying out such a range of operations that fully covers the demand of economic entities for banking services in each given territory (in each region).
5. Banks and other credit institutions in a variety of forms regularly interact within the framework of legal procedures with clients, the central bank and other public authorities and authorities, with each other and with ancillary organizations. 5 Banking: Management and Technologies: Textbook for Universities / Edited by Prof. A.M. Tavasieva. - M .: UNITY-DANA, 2001 .-- p. 29.

If we apply any of the above conditions to domestic banking practice, then the conclusion is obvious that the banking system of Russia is still in its outline, "draft" version. This conclusion is confirmed by the fact that the listed conditions, which are mostly formal, external in nature, are not all, and, moreover, not the most stringent requirements that should be imposed on the quality of the banking system. In the role of such more stringent criterion requirements are the principles of the formation and functioning of a healthy and efficient banking system, confirmed by international and domestic practice. These include:

The principle of controllability (development based on forecasting, planning and programming);
The principle of evolutionary (gradual and thorough development);
The principle of adequacy (the adequacy of the real sector of the economy and the adequacy of the elements of the banking system to each other, i.e. their compatibility, consistency of actions, complementarity, unity of principles and methods of work);
The principle of functional completeness (the presence of all the necessary elements of the system in the right proportions);
The principle of self-development (the ability to resist threats to stability and the ability to improve);
The principle of openness (freedom of entry and exit from the banking system, information transparency of actions);
The principle of efficiency (including efficiency for clients and for the country's economy as a whole);
The principle of adequate legal support.

Practically each of these principles and requirements, to a greater or lesser extent, is not met by domestic banks and their entire set. That is why the banking crisis, which peaked in August 1998, was natural and inevitable. It was, in particular, a manifestation of the fact that the totality of credit institutions operating in Russia had not yet acquired the obligatory signs of an organic system. The formation of such a system remains an urgent task for the future.

The modern banking system of the Russian Federation is the result of reforming the state credit system, which functioned during the period of developed socialism under a centralized planned economy. The legal framework 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 legislation establishes the definition of the banking system, credit institutions and banks, establishes the goals and objectives of the Bank of Russia, banks and non-bank credit institutions, specifies the types of banking operations and transactions, enshrines the procedure for the creation, liquidation and regulation of the activities of credit institutions, their financial recovery and bankruptcy, etc. .NS.

The modern banking system in Russia operates on the following principles enshrined in legislation:

1. The principle of a two-tier structure assumes separation of the functions of the Bank of Russia and all other banks. The Central Bank of the Russian Federation is the upper tier of the banking system and performs the functions of monetary regulation, banking supervision and management of the country's settlement system. Commercial banks and other credit organizations form the second, lower, level of the banking system. Their competence includes transactions related to intermediation in settlements, lending and investment, but do not participate in the development and implementation of monetary policy. The Bank of Russia establishes indicators of money supply, interest rates, inflation rates, etc., which are used by the second banks in their activities. Commercial banks are required to comply with the standards and requirements of the Bank of Russia in terms of 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 operations stipulated by the current legislation and banking licenses, both short-term commercial and long-term investment. In the Russian Federation, the legislation does not provide for the specialization of banks by the types of their operations, but commercial banks can choose the areas of banking activities, client segments in accordance with their policy, if this does not contradict the current legislation. The universal status of banks allows to reduce risks due to diversification of services, provides comprehensive customer service and maximum consideration of the specifics of each group of customers 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 the current legislation, the main goal of the activities of banks and credit institutions in the Russian Federation is to make a profit.

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

The Bank of Russia is the 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 institution is a legal entity that, in order to generate profit as the main purpose of its activities, on the basis of a special permit (license) from the Bank of Russia, has the right to carry out banking operations under the legislation of the Russian Federation. All credit institutions licensed by the Bank of Russia are included in the banking system. According to the Federal Law of 03.02.1996 No. 17-FZ "On Banks and Banking Activities" in the Russian Federation, it is possible to create credit organizations of two types: non-bank credit organizations and banks.

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

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

· Attraction of funds of individuals and legal entities to deposits;

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

· Opening and maintaining bank accounts of individuals and legal entities.

In accordance with the principle of universality, all Russian banks can develop as universal ones. The 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 implies that the banks themselves and their founders bear full responsibility for decisions on the choice of the sphere of business activity. However, regardless of the chosen direction of activity and the niche occupied in the banking services market, all banks are subject to the unified norms of banking legislation. The Central Bank of the Russian Federation makes the same requirements for them and establishes uniform standards governing their activities.

Branches of foreign banks are currently not represented in the banking system of the Russian Federation, which is associated with 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 through the creation of subsidiary banking structures, which are registered in accordance with the rules established by 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.

By 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 individuals);

· Banks with state participation in capital;

· Banks with foreign capital participation.

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

Depending on the size, private banks are categorized into large and medium-sized and small banks.

State-owned banks are banks in which organizations representing the state participate. The forms and procedure for the participation of federal property in the authorized capital of credit institutions are determined by federal laws that are separate for each bank. Participation of the constituent entities of the Russian Federation and local governments with their property and monetary funds in the formation of the authorized capital of credit institutions is possible only on the basis of a special legislative act of the constituent entity of the Russian Federation or a decision of the local government. At the same time, the state carries out its participation in the capital of banks both through the executive authorities, state unitary enterprises of the federal level and the level of the 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 the Russian Federal Fund. property (RFBR).

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

· Lending to foreign trade and servicing foreign trade turnover between the country - the location of the foreign bank and the Russian Federation;

· Banking services for firms in the country of origin of the bank and transnational corporations operating in the Russian market;

· Provision of a complex of modern banking services to national enterprises and organizations;

· Financial intermediation between foreign and Russian financial markets.

Banks with prevailing foreign capital are usually subsidiaries of well-known foreign banks. Through the establishment of subsidiary banks, foreign banks accompany their global clients entering the Russian market. Subsidiary banks, along with balances on settlement and current accounts of clients, 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 from international financial markets.

The peculiarity of the modern banking system in Russia lies in the predominance of small and medium-sized banks in it, while in the main sectors of the national economy, large enterprises still dominate, requiring large volumes of external financing. One of the 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 holdings, which is provided for by the current banking legislation.

A banking group is a non-legal entity association of credit institutions in which one (parent) credit institution exerts, directly or indirectly (through a third party), materially influence the decisions taken by the governing bodies of other credit institutions.

A bank holding company is a non-legal entity 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 banking holding company) has the ability to exercise, directly or indirectly (through a third party), materially influence decisions made by credit management bodies. organizations. A commercial organization acting as the parent organization of a bank holding company, to manage the activities of credit institutions that are part of the holding, can create a management company of a bank holding company in the form of a business entity, the main activity of which is to manage the activities of credit institutions that are part of the bank holding company. The parent commercial organization must be able to determine the decisions of the management company of the bank holding company on issues within the competence of the meeting of its founders, including on its reorganization and liquidation.

Credit institutions that are part of the banking system can create unions and associations that do not provide for the purpose of making 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 associations of the federal level, territorial banking unions (associations) are being created and operate in the Russian Federation, which represent the interests of credit institutions at the regional level.

Control questions

1. Features of the modern financial policy of the Russian Federation?

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

3. What was the essence of the 1998 financial crisis?

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

5. Causes and results of monetary reforms of the modern period.

6. Describe the modern banking system in Russia.

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 institutions, as well as branches and representative offices of foreign banks.

The first level includes the Central Bank of the Russian Federation, the kind 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 the performance and accounting of banking operations, the issuance of cash (emission), the organization of payment circulation, the licensing of banking activities and supervision of all credit institutions, the regulation of banks and other credit organizations through accounting, reserve policies and the establishment of compulsory 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 institutions. These include: a bank and non-bank credit institution, Russian banks with foreign capital, or branches of foreign banks. The main purpose of credit institutions is to carry out banking operations for credit, cash settlement and deposit services to customers and subjects of economic relations.

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

Credit organisation - This is a legal entity that, in order to generate profit as the main purpose 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 in aggregate the following banking operations: attracting funds from individuals and legal entities to deposits, placing these funds on its own behalf and at its own expense on terms of repayment, payment, urgency, opening and maintaining bank accounts of individuals and legal entities.

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

Banking group - this is an association of credit institutions in which one (parent) credit institution exerts, directly or indirectly (through a third party), a significant influence on the decisions taken by the governing bodies of another (other) credit institution.

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, directly or indirectly, to significantly influence decisions taken by the governing 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 establishes restrictions on banking operations for branches and representative offices of foreign banks.

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

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

§ independent payment systems that assist in the implementation of settlements between organizations and banks, for example, SWIFT, and payment transactions with 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 in the development of their business, representing the interests of banks in interaction with clients and authorities;

§ educational organizations that train and retrain bank specialists, conduct various seminars and refresher courses, without which, in the conditions of the complexity of modern banking, it is impossible to imagine the normal functioning of a bank.

7Monetary and credit 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, regulate money circulation, credit and exchange rates, and store 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 endowed with the right to issue money and government securities, establishes the standard amount of credit demand, stores cash reserves of commercial banks and provides them with loans, is a cash center. Its main task is to conduct state policy in the field of emission, 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 monetary circulation. One of the prerequisites for the effective development of the economy is the formation of a clear mechanism of monetary regulation, allowing the Central Bank to influence business activity, control the activities of commercial banks, and achieve stabilization of money circulation. The specificity of the economic and organizational foundations of monetary policy is determined by the specificity of its objects and subjects. Objects monetary policy are 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 of the state and commercial banks. The basis for the development and reliable, stable functioning of the banking system is the formation of a flexible mechanism for monetary regulation of the economy, which allows the state to effectively influence economic activity, control the activities of banking institutions, and achieve stabilization of money circulation.

Monetary Policy Objectives.The fundamental goal of monetary policy is to help the economy achieve an overall level of production, characterized by full employment and no inflation. Monetary policy is to change the money supply in order to stabilize the aggregate output, employment and price level. The central bank is the main regulator, but not the only one. With the help of credit regulation, the state seeks to mitigate economic crises, curb the growth of inflation, in order to maintain the conjuncture, 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 exerts an indirect influence through the liquidity of lending institutions, or sets limits on lending to the economy (i.e., quantitative credit limits). 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: policy of monetary restriction (restriction of credit operations, raising the level of interest rates, slowing down the growth rate of the money supply in circulation); · Policy of monetary expansion (stimulation of credit operations through a decrease in the rate of interest and an increase in the money supply in circulation). The policy of monetary restriction (“expensive money” policy) is applied in the context of a cyclical revival of the economic environment. 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 banks' lending operations, introducing more favorable lending terms for the purpose of economic revival.

The monetary policy of the state is carried out through the Central Bank of the Russian Federation, as a rule, in two directions: pursuing an expansionary or expansionary policy aimed at stimulating the scale of lending and increasing the amount of money. Depending on the economic situation, the Central Bank increases or decreases the cost of loans for commercial banks, and, accordingly, for borrowers. If there is a decline in production in the economy, unemployment rises, then he pursues a policy of cheap money, which makes loans cheap and affordable. 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 the 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 lower the interest rate (price of money) in order to attract borrowers. This is especially evident in the context of the depressive state of the economy. Cheap credit pushes businesses to invest in capital goods and households to buy consumer goods. There is an increase in demand on the commodity market, and the preconditions for economic growth are created. This policy is being pursued during a period of stagnation;

Implementation of restrictive or restrictive (hard) policies aimed at increasing the interest rate. When inflation rises, the Central Bank pursues a policy of expensive money, which leads to a rise in the cost of credit and makes it difficult to obtain. In this case, there is an increase in the sale of government securities on the open market, an increase in the reserve rate and an increase in the discount rate. High interest rates, on the one hand, encourage owners of money to save more money, and on the other hand, they limit the number of people willing to borrow money. In this case, market participants tend to purchase securities. This direction of regulation is used in the presence of inflation and high rates of economic growth. Banks seek to earn on interest on loans, appropriating the difference between income from active operations and expenses incurred to raise funds. As you know, the interest rate depends on the rate of inflation and even on inflationary expectations. If prices have risen, and the interest rate remains unchanged, then both banks and depositors will receive back the depreciated money. As the economy grows, when everyone needs money, interest rates will rise. The Central Bank of the Russian Federation considers that the main objective of monetary policy for the medium term is to reduce inflation while maintaining and possibly accelerating GDP growth, while simultaneously creating preconditions for reducing unemployment and increasing real incomes of the population. Monetary policy is designed to help establish an overall level of production in the economy, characterized by full employment and the absence of inflation.

The banking system of the Russian Federation assumes the presence of two subsystems, which were finally formed in 1991 after the adoption of the law regulating the activities of banking organizations. The first step is occupied by the Central Bank or the Bank of Russia, and the second is the country's commercial trade banks. This concept is not new for Russia, it was invented much earlier and was formed on the territory of England.

The main tasks of the main bank of the country include the issuance of funds, the provision of stable functioning of commercial banks within the state, as well as the preservation and stable maintenance of monetary policy. An important task of the Central Bank is to establish a fixed rate, which must be supported by all structures subordinate to the Central Bank.

In 2009, a single refinancing rate was announced - 8.5%, which made it possible to increase the possibility of obtaining loans and borrowings for the population. Until 2009, this rate exceeded 11%.

Within the banking system of Russia, commercial banks of various types belong to the second level. They may be multipurpose, savings, special, collateral or industry. To a number of such banks, other structures are added that are non-banking in nature. These are a kind of credit and trade organizations, consisting of investment funds (investment funds), insurance companies, trust firms and pension funds.

The legislation enshrines the main levels of the banking system of the Russian Federation, which imply not only the presence of two degrees in the banking system, but also the compliance of each organization with the universality rule. The second level is limited not only to well-known commercial banks, but also includes branches of foreign banks and non-banking organizations.

First level

The first level of the banking system is the fundamental stage in the national economy, which determines the existence, development and functioning of the banks subordinate to it. The Bank of Russia possesses great opportunities, the main ones of which are: providing loans to foreign credit institutions and the government of the country and performing a wide range of various financial transactions.

At the first level of the modern banking system of the Russian Federation is the Central Bank, the functions and tasks of which are spelled out in the Constitution and laws of the country:

Protection and provision of stability of the national currency, the implementation of its purchasing power, as well as the correspondence of the exchange rate in relation to other foreign units.
Formation and improvement of the banking system, concepts.
Monopoly implementation of the issue of available cash and the implementation of their uniform redistribution.
Implementation of monetary regulation and control.
Together with the government bodies of the country, thinking over and implementing a common monetary policy, which should be aimed at protecting the ruble.

The first level of the banking system includes several important tasks that the Central Bank of the Russian Federation should perform:

control over the work of banking subsystems;
settlement of issues related to the sale of loans;
implementation of measures to protect depositors;
formation of an insurance asset in order to provide the stability of the banking system;
verification of the results of receipt of inalienable deductions from funds of credit institutions.

Second level

The second level of the banking system belongs to universal commercial banks, which have the right and are licensed to carry out any banking operations.

At the beginning of 2017, about 1017 banks were registered in the country, including credit institutions with the participation of foreign partners and other credit organizations.

At the second stage of the country's banking system, universal banks can function - private, using state or foreign capital. All second-tier banks have the right to open their divisions, including branches, representative offices and office structures.

The more advanced functionality of federal and regional credit institutions depends on how many levels there are in the banking system of the Russian Federation. After the introduction of two stages, the sectoral orientation of banks was significantly expanded, which can independently choose their direction (transport, agricultural, housing, trade or consumer).

Over the past years, the five largest banks in the country have been identified, which have the largest net profit and asset reserves. The first place is confidently taken by Sberbank, followed by VTB, Gazprombank, Alfa-Bank and FC Otkritie.