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

Banking system 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 who regularly perform either all or most, or at least individual banking operations / transactions, i.e. banks (central and commercial) and actual non-bank credit organizations (not only those registered with the Central Bank), but as its 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 platforms”, bank audit firms, organizations that determine the ratings of banks, provide them with special equipment and materials, information, specialists, etc.).

A lot of misunderstandings are usually caused by the question of levels. banking system. The author of the textbook "Banking: management and technology" A.M. Tavasiev argues that a developed banking system, as an element of a market

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

The economy should and can only be two-level. Banking: management and technology: Tutorial for universities / Under the editorship of Prof. A.M. Tavasiyev. - M.: UNITI-DANA, 2001. - P.28. However, the author of another textbook "Banks and banking" I.T. Balabanov believes that in countries with developed market economy The banking system is more complex and organizationally more diverse and consists of three links. (Fig. 2.) Banks and banking. / Ed. I.T. Balabanova. - St. Petersburg: 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 vital activity of credit institutions.

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

Ш monopoly issues money into circulation;

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

• Ш stores temporarily free funds and required reserves of other banks, i.e. acts as a "bank of banks";
• Ш performs the role of "lenders of last resort", i.e. providing credit only if it is not available on acceptable terms elsewhere, mainly for short-term needs:
• SH carries out non-cash payments on a national scale;
• sh leads cash execution budget and lends to the state;
• Sh regulates the course national currency and coordinates the foreign activities of private banks in their country;
• Ш stores a centralized gold and currency reserve;
• Ш establishes economically justified limits and standards for the activities of banks, incl. the official rate of the Central Bank on loans;
• SH conducts scientific research;
• Ш defines the legal framework and principles for the functioning of credit and financial institutions, short-term and long-term markets credit operations, as well as types of payment documents circulating in the country;
• Ш forms an effective mechanism for monetary regulation of the economy.

the main task monetary policy Central Bank - maintaining a stable purchasing power of the national currency and ensuring an elastic system of payments and settlements.

Commercial (non-issue) banks are the second level of the banking system and at the same time they are the backbone credit system, which concentrates the bulk of its lending institutions. Their activity is quite large, so they are also called universal banks. Today, commercial banks are able to offer customers up to 200 types of various banking products and services. Recently, banks have been increasingly carrying out operations that are uncharacteristic for them, penetrating into areas of financial entrepreneurship that are not traditional for banks, including leasing, factoring, forfaiting 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, judicial authorities, as well as to coordinate and improve their activities.

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

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

• 1. Banks and non-banking credit organizations operate in sufficient numbers in the country. At the same time, a “sufficient” value can only be determined empirically, moreover, in relation to the conditions of a specific territory, when the main guideline is the volume of solvent needs of enterprises, organizations and the population in banking services.
• 2. Banking operations in the country are carried out only by credit organizations that have received the appropriate licenses.
• 3. In the country, the central bank operates and effectively copes with its inherent functional duties and established powers.
• 4. There are a variety of (according to forms of ownership, organizational and legal forms, size or scale of activity, territorial basis, nature of activity, etc.) economically viable (profitable) saws of commercial banks and non-bank credit organizations, covering all spheres of the national economy and foreign economic relations, occupying all 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 various forms regularly interact within the framework of legal procedures with customers, the central bank and other state authorities and administrations, with each other and with auxiliary organizations. 5 Banking: management and technology: Textbook for universities / Under the editorship of prof.A.M. Tavasiev. - M.: UNITI-DANA, 2001. - P.29.

If we apply any of the above conditions to domestic banking practice, then the obvious conclusion is that the Russian banking system is still in its draft, "draft" version. This conclusion is also confirmed by the circumstance that the listed conditions, which are predominantly 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 criteria requirements are the principles of formation and functioning of a healthy and efficient banking system, confirmed by world and domestic practice. These include:

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

Practically each of the named principles and requirements to a greater or lesser extent is not fulfilled by domestic banks and their entirety. 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 is still far from having acquired the obligatory features of an organic system. The formation of such a system remains an urgent task for the future.

The modern credit system is a combination of a wide variety of 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.
4. Specialized non-bank credit institutions.

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

Currently, the following trends are characteristic of the Russian banking system:

1. Small and medium banks predominate.
2. According to the form of ownership, banks are divided into share, joint-stock and mixed.
3. The main part of the banks is still concentrated in the Central region.
4. The number of branches and representative offices is increasing, both in Russia and abroad.
5. The Russian Federation is characterized universal banks, the network of specialized banks, for example, such as mortgage ones, is practically not developed.
6. The main purpose of the banking system is lending to the economy in the face of three economic agents - the population, entrepreneurs and the state. In this regard, the domestic banking system is far behind the Western one. Almost exclusively engaged in lending to the population Savings bank. Lending to enterprises occupies a relatively small place in the operations of commercial banks.
7. In structure passive operations the main share is occupied by ruble deposits of the population and legal entities.

Gradually improving, the banking system of the Russian Federation is increasingly beginning to become a developed system, and not only externally, but also in the essence of the operations carried out. The network of branches and representative offices is expanding both within the country and abroad, and the network of non-bank credit institutions is growing.

Central Bank of the Russian Federation (Bank of Russia)

Some functions of the central bank (the monopoly issue of credit notes, the “bank of banks”) in Russia were first performed by the State Bank of Russia, established in 1860. He was directly subordinate to the Minister of Finance and, along with the functions of the central bank, performed the functions of a commercial bank. After the nationalization of commercial banks in 1917 and their merger with the State Bank of Russia, the latter was renamed National Bank RSFSR and transferred to the jurisdiction of the People's Commissariat of Finance. In 1920, the People's Bank of the RSFSR was abolished, and the right money issue handed over to Narkomfin.

In 1921, the State Bank of the RSFSR was established, which in 1923 was transformed into the State Bank of the USSR, which is directly subordinate to the Government.

Before the banking reform of 1987, the State Bank of the USSR was the single emission, credit, settlement and cash center of the country, performing, unlike central banks, industrially developed countries, functions inherent in both central and commercial, investment, savings and other banks. Since 1988, the functions of lending and settlement and cash services National economy were transferred to state-owned specialized banks. The State Bank of the USSR carried out a monopoly issue of cash, centralized planned management monetary system, control over all the main activities of state specialized banks, organization of settlements between them, cash execution of the budget.

At the same time, the state monopoly of banking and strict centralization of credit management were maintained. The State Bank of the USSR developed consolidated credit plans and plans for the distribution of resources and credit investments among banks, established limit dimensions the interest rate of specialized banks, participated in determining the composition of the objects of lending, the conditions for issuing and repaying loans, measures of credit impact on borrowers.

The Central Bank in the Russian Federation was created after it gained sovereignty on the basis of the State Bank of the USSR, initially in the form of the State Bank of the RSFSR, which in December 1990 was renamed the Central Bank of the RSFSR (Bank of Russia), and in April 1995 - the Central Bank of the Russian Federation (Bank of Russia).

Legal status, functions, principles of organization and activity Central Bank of the Russian Federation (Bank of Russia) are determined by the Constitution of the Russian Federation, the Federal Law of April 26, 1995 “On the Introduction of Amendments and Additions to the Law of the RSFSR “On the Central Bank of the RSFSR (Bank of Russia)”, as well as the Federal Law of February 3, 1996 “On the Introduction amendments and additions to the Law of the RSFSR "On Banks and banking in the RSFSR.

The authorized capital and other property of the Bank of Russia (CBR, CBR) are federal property. However, although the Bank of Russia is a state-owned bank, it is independent of the Government in its activities. The Central Bank of the Russian Federation is a legal entity, not registered in tax authorities, carries out its expenses at the expense of own income, is not liable for the obligations of the state, and the state is not liable for the obligations of the bank. Regulations published by the Central Bank of Russia are obligatory for state authorities of the Russian Federation and its subjects, local governments, all legal and individuals. Draft federal laws, regulations federal bodies executive power concerning the performance of the functions of the Bank of Russia should be sent for its conclusion.

The Central Bank of the Russian Federation is accountable only to the State Duma of the Federal Assembly of the Russian Federation. The State Duma, on the proposal of the President, appoints for a period of 4 years the Chairman and members of the highest body of the Bank of Russia - the Board of Directors, considers the annual report of the Central Bank and audit report, determines the audit firm for audit jar; hears reports of the Chairman on the activities of the CBR twice a year: upon presentation annual report and the main directions of the unified state monetary credit policy.

At the same time, the Central Bank of the Russian Federation is closely connected with the Government. He is involved in the development economic policy Government of the Russian Federation. The chairman of the bank or one of his deputies participates in the meetings of the Government of the Russian Federation. The Minister of Finance and the Minister of Economy or their deputies participate in the meetings of the Board of Directors of the Bank of Russia with the right of an advisory vote. The CBR and the Government of the Russian Federation inform each other about proposed actions of national importance, coordinate their policies, and hold regular consultations. In particular, the CBR advises the Ministry of Finance of the Russian Federation on the schedule for issuing government securities and repaying government debt, taking into account their impact on the state of the banking system and the priorities of the unified state monetary policy.

The Bank of Russia created the National banking council, which includes representatives of the chambers of the Federal Assembly, the President, the Government of the Russian Federation, the Bank of Russia, as well as the Minister of Finance and the Minister of Economy, representatives of credit institutions and experts. The Chairman of the Council is the Chairman of the Central Bank of the Russian Federation. The National Banking Council regularly considers the concept of improving the banking system, drafts of the main directions of the unified state monetary policy, currency regulation policy, the most important issues of regulating the activities of credit institutions, carries out an examination of draft legislative and other regulatory acts in the field of banking.

The Bank of Russia forms a single centralized system with a vertical management structure. The Bank's system includes central office, territorial offices, cash settlement centers, computer centers, field institutions, educational establishments and other enterprises, institutions and organizations, including security units, necessary for the implementation of the activities of the CBR. National banks republics are territorial institutions of the CBR. The territorial institutions of the bank do not have the status of a legal entity and do not have the right to make decisions of a regulatory nature, as well as issue guarantees and sureties, promissory notes and other obligations without the permission of the Board of Directors.

The management and management of the Bank of Russia is carried out by its supreme body - the Board of Directors. This collegiate body includes the Chairman of the CBR and 12 permanent members of the Bank of Russia. The Board of Directors, in cooperation with the Government, develops the main directions of the unified state monetary policy, establishes economic standards and norms of required reserves for credit institutions, makes decisions on changing interest rates Bank of Russia, determines the limits of operations on open market, the conditions for the admission of foreign capital to the banking system of Russia, the volume of issuance and withdrawal of cash from circulation.

The main objectives, functions and operations of the Central Bank of the Russian Federation. The federal law "On the Central Bank of the Russian Federation (Bank of Russia)" dated April 26, 1995 defines three main goals of its activities. They are achieved by performing the functions of the Bank of Russia.

The first goal is to protect and ensure the stability of the ruble, including its purchasing power and exchange rate against foreign currencies. The Bank of Russia monopoly issues cash (banknotes and coins) and organizes their circulation. Unlike industrialized countries, specific gravity cash in Russia is very large - about 37% of all money supply, and therefore the emission function of the CBR is of particular importance. Control over the growth of the monetary base in a broad definition, more than 70% of which is cash in circulation, is the most important component of the regulation of the money supply by the Bank of Russia. The unified state monetary policy pursued by the Bank of Russia is aimed at protecting and ensuring the stability of the ruble. Every year, no later than December 1, the Central Bank of the Russian Federation submits to the State Duma the main directions for the coming year. The directions provide an analysis of the state and forecast of the development of the Russian economy, the main guidelines, parameters and instruments of monetary policy.

Based on the main directions of monetary policy, the Bank of Russia sets targets for the growth of one or more indicators of the money supply at such a level as to provide the economy with money in an amount corresponding to the fulfillment of the officially formulated goals for inflation and the production of real GDP.

To achieve the established monetary policy benchmarks, the Bank of Russia can use various tools: changing the required reserve ratios deposited with the CBR (reserve requirements); changes in interest rates on their operations; open market operations; currency regulation. In exceptional cases, and only after consultation with the Government, the CBR may apply direct quantitative restrictions on loans (for example, limits on bank refinancing, on certain banking operations by credit institutions).

Just like the central banks in the overwhelming majority of countries of the world, since 1991 the Bank of Russia has been using such an instrument of monetary policy as changing the required reserve ratio. In April 1991, they were set at 2% for all types of deposits; term deposits(fifteen%). Further differentiation of the standards took place in 1995. In subsequent years, the norms of reserve requirements changed many times both upwards and downwards, etc.

An important instrument of monetary policy is the change in interest rates on the operations of the Bank of Russia. Since 1993, the refinancing rate of the Central Bank of the Russian Federation has changed at least several times a year, and in certain periods with an interval of one to two weeks. The maximum level of the refinancing rate in 1991 reached 20%, in 1992 - 80%, in 1993 - 210%. From May 1995 to November 1997, the rate was reduced 13 times, reaching 21%. In November 1997, it was again raised to 28%. After August 1998, the refinancing rate gradually decreased and in 2008 reached 10%.

In addition to the refinancing rate, the Central Bank sets rates for pawn loans, repo-type transactions, and deposit transactions. The interest rates of the Bank of Russia are the minimum rates at which it carries out its operations.

The rapid development of the government securities market in Russia in 1993 - 1995. created the prerequisites for the active use of open market operations to influence bank liquidity and the monetary base. Thus, the Central Bank's purchase of government securities from commercial banks made a significant contribution to overcoming the crisis in the interbank loan market in August 1995. Since 1995, the operations of the Bank of Russia in the GKO-OFZ secondary market have become the main determinant of the growth of the monetary base. Suffice it to say that at the end of 1995 about 80% of the increase in the monetary base (in broad definition) was associated with these operations, at the end of 1996 - about 82%, and in mid-1997 - 135% compared to 1%. in early 1995. Since August 1998, the volume of operations on the open market has declined sharply as a result of the restructuring of debt on government securities maturing before December 31, 1999.

An important direction of the monetary policy of the Bank of Russia is foreign exchange policy. The Central Bank of the Russian Federation actively uses the ruble exchange rate as an instrument for regulating monetary circulation and inflation. By buying and selling US dollars for rubles, the Central Bank of the Russian Federation affects both the volume of the ruble supply and exchange rate ruble.

Of great importance for ensuring the stability of the ruble exchange rate is the definition of its regime. In the 1990s The Bank of Russia changed the exchange rate regime several times. Until the middle of 1992, the CBR fixed various rates for individual transactions (a multiplicity of exchange rates regime), from July 1992 a “floating” exchange rate regime was introduced, the official rate began to be set at the level of the MICEX rate (on Tuesday and Thursday). Since the middle of 1995, the Central Bank has been setting the limits for changing the exchange rate in the form of a "currency band". The introduction of the "currency corridor" regime made it possible, firstly, to reduce currency risks, which largely determine the level and dynamics of inflationary expectations, and, secondly, to combine the advantages of the flexibility of a "floating" exchange rate with the certainty of a fixed exchange rate regime.

It is no coincidence that the "currency corridor" regime is called both the "controlled floating" regime and the "soft fixation" regime. The “currency corridor” was set wide enough to ensure that the movement of the exchange rate corresponded to the real ratio of market demand and supply for foreign currency (the lower limit of the “corridor” was set at the level of 4550 rubles, and the upper - 5150 rubles for 1 US dollar). Thanks to this, it was possible to avoid heating up speculative expectations and at the same time introduce predictability into the dynamics of the ruble exchange rate, smooth out the impact on the exchange rate of sharp fluctuations in supply and demand for foreign currency.

From July 1996 to January 1998 the "corridor" was "slanted", i.e. the values ​​of the upper and lower limits of fluctuations in the exchange rate of the dollar against the ruble gradually increased: the lower ones - from 5000 to 6100 rubles, the upper ones - from 5500 to 6350 rubles. At the same time, from May 17, 1996, the Bank of Russia refused to “peg” official exchange rate to the MICEX fixing and began to set it daily based on the ratio of supply and demand for foreign currency in the interbank and exchange currency markets, as well as inflation indicators, the situation in international currency markets, changes in the value of state gold and foreign exchange reserves, and the dynamics of balance of payments indicators. At 10:00 Moscow time each working banking day The Central Bank of the Russian Federation announced the rates for buying and selling US dollars for its operations on the interbank foreign exchange market. The difference between these rates (spread) could not exceed 1.5%. The official exchange rate of the ruble against the US dollar was the average between the announced buying and selling rates of the Bank of Russia. The official exchange rate was introduced from the calendar day following its announcement.

The exchange rate policy pursued since mid-1995, having ensured stabilization and predictability exchange rate ruble, contributed to the containment of inflation, the normalization of the macroeconomic situation in Russia. At the end of 1997, the Bank of Russia moved from the practice of setting short-term (for one year) restrictions on the dynamics of the ruble exchange rate to determining its medium-term targets. As such a benchmark for 1998-2000. the central rate of 6.2 rubles was determined. for 1 US dollar with possible deviations from it within 15% (from 5.25 to 7.15 rubles per dollar). The mechanism for establishing a "currency corridor" was changed: the "sloping" corridor was replaced by a "horizontal" one. At the same time, along with the inflation rate and the ratio of supply and demand in the domestic foreign exchange market, the medium-term dynamics of the Russian national currency exchange rate began to be determined by such factors as the volume foreign investment to Russia, mutual changes in the exchange rates of major world currencies by international markets, changing the geography of Russian foreign economic activity.

However, on August 17, 1998, the Government and the Bank of Russia jointly announced a revision of the parameters of the exchange rate policy in order to avoid a reduction in foreign exchange reserves and in order to eliminate the accumulated foreign economic sphere imbalances. The "currency corridor" was expanded to 6.00-9.50 rubles. for 1 US dollar. In September 1998, the Bank of Russia was completely forced to abandon the “currency corridor” regime and “released” the exchange rate for free “floating”. The procedure for establishing the official exchange rate of the ruble was also changed: it began to be determined based on the results of MICEX trading.

The effectiveness of the regulation of the ruble exchange rate directly depends on the policy of formation and management of the gold and foreign exchange reserves of the Russian Federation. By implementing this policy. The Bank of Russia basically follows the principles and rules that other central banks adhere to when carrying out operations with official foreign exchange reserves: maintaining reserves at a minimum adequacy level (i.e., in an amount no less than import financing for three months), ensuring high degree of reliability, maximum liquidity and optimal profitability of their placement. The vast majority of foreign exchange reserves are placed in securities issued by the US and German governments. Like other central banks, the Central Bank of the Russian Federation refrains from large-scale placement of foreign exchange reserve funds in unsecured instruments money market and mainly performs repo type transactions. It places a small part of its reserves on an overnight basis in first-class foreign banks within the established limit for each bank.

For protection and sustainability monetary system The activity of the Bank of Russia in the field of currency regulation and currency control is directed to Russia. Performing the functions of the main body of currency regulation and one of the bodies of currency control, the Central Bank of the Russian Federation carries out: development of relevant legal and regulatory acts; preparation and implementation of measures to improve the system of control over the movement of foreign exchange funds both within the country and in non-economic activities; takes part in the development of the forecast of Russia's balance of payments, organizes the preparation of the balance of payments, participates in the preparation of international agreements and treaties of Russia on relevant issues; cooperates with central banks of other countries and international financial institutions in order to harmonize the directions of development of currency regulation and currency control in Russia with international norms and practice in this area.

An important stage in the development monetary system Russia was the adoption by the Government and the Bank of Russia in June 1996 of international obligations to remove restrictions on the convertibility of the ruble for current transactions within the framework of Article VIII of the IMF Charter.

The second goal of the Bank of Russia is the development and strengthening of the country's banking system. The Central Bank of the Russian Federation performs the function of a “bank of banks”. It regulates the activities of credit institutions and supervises them in the following main areas:

• regulation of mandatory economic standards for credit institutions ( minimum size capital, capital adequacy, liquidity ratios, etc.); determination of the limits of the open currency position, the procedure for the formation of reserves to cover risks;
• opening correspondent accounts, depositing required reserves of credit institutions on special accounts, accepting their free funds as a deposit at a fixed rate;
• lending to credit institutions; Since 1995, the practice of providing the Central Bank of the Russian Federation with targeted centralized loans to banks at a rate below the market has been discontinued, lending to banks has been carried out only market methods: by holding credit auctions, providing pawnshop loans secured by securities, settlement overdraft loans by making payments within the established limit from the bank's correspondent account with the CBR in the absence of Money;
• managing the liquidity of the banking system by buying and selling government securities to banks; in 1996, the CBR introduced a new instrument for regulating bank liquidity - repo-type transactions;
• registration of issues of securities of credit institutions;
• establishing rules for conducting certain banking operations, maintaining accounting, compiling and providing accounting and statistical reporting credit organizations;
• registration and licensing of credit institutions;
• supervision over compliance with banking legislation, regulations of the Central Bank, inspections of the activities of credit institutions.

The third goal facing the Bank of Russia is to ensure the efficient and uninterrupted functioning of the settlement system. As a “bank of banks”, the CBR acts as the main regulatory body payment system Russia. It organizes interbank settlements, serves as the settlement center of the country's banking system; establishes the rules, forms, terms and standards for non-cash payments in Russia; coordinates, regulates and licenses the organization of settlement (including clearing) systems.

The Bank of Russia, like the central banks of other countries, performs the function of a banker, financial consultant and agent of the Government of the Russian Federation. The funds of the federal budget, the budgets of the constituent entities of the Federation, state non-budgetary funds are kept on its accounts. It can provide loans to the Government of Russia for a period not exceeding one year (to cover cash gaps in the state budget) secured by securities and other assets, if this is provided for by the Federal Law on the federal budget. Except in cases where this is provided for by the specified law, the bank is not entitled to provide direct bank loans to the Government of the Russian Federation for financing budget deficit and buy government securities at their initial placement.

The Central Bank of the Russian Federation advises the Ministry of Finance of the Russian Federation on the schedule for issuing government securities and repaying the government debt, taking into account their impact on the state of the banking system and the priorities of the unified state monetary policy.

The Bank of Russia services the state internal debt of the Russian Federation. Its powers in this area are determined by federal legislation and, first of all, by the Law of the Russian Federation “On the State Internal Debt of the Russian Federation” dated November 13, 1992. In accordance with this Law, the management of the state internal debt (determining the procedure, conditions for issuing and placing debt obligations) is carried out by the Government of the Russian Federation .

Debt servicing is carried out by the CBR and its institutions through the placement of debt obligations of the Government of the Russian Federation, their repayment and payment of income in the form of interest on them or in any other form.

Commercial banks of Russia

Commercial banks operating in the banking system of Russia can be classified on various grounds: by the method of formation and the amount of the authorized capital; by the type of transactions performed; by the volume of banking operations, by the territory served by the bank, etc.

According to the method of formation of the authorized capital, joint-stock and unit commercial banks are distinguished. joint stock bank established in the form of a joint stock company. Its authorized capital is divided into a certain number of shares and belongs to the participants of the joint-stock company (part 1 of article 96, article 98, 99 of the Civil Code of the Russian Federation). A share bank is created in the form of a limited liability company. It is based on share capital, which is formed from the shares of the founders of the bank (Articles 87, 90 of the Civil Code of the Russian Federation).

According to the types of operations performed, commercial banks are divided into universal and specialized. Universal banks are those commercial banks that are licensed by the Bank of Russia to perform all or at least a wide range of banking operations and transactions listed in Art. 5 of the Law "On banks and banking activities". Specialized banks have the right or actually carry out predominantly a limited type of banking operations, services, such as investment, mortgage, savings, etc.

Mortgage banks finance clients when they need a loan to purchase real estate. Mortgage banks are called upon to make transactions related to collateral land plots enterprises, buildings, structures, apartments and other real estate(Clause 2, Article 334 of the Civil Code of the Russian Federation). According to the amount of capital, the volume of transactions performed and the services provided, commercial banks of the Russian Federation are usually divided into large, medium and small. In the last decade, the process of concentration of capital of credit institutions has been intensifying in Russia.

According to the territory actually served by the bank, there are banks serving a certain territory of the country, and banks operating throughout the Russian Federation.

A separate type of commercial banks that have appeared recently are municipal banks. Their peculiarity consists, firstly, in the fact that they are created on the initiative of state authorities of the constituent entities of the Russian Federation and local self-government; secondly, in the fact that for the formation of the authorized capital of banks, free cash and other objects of property that are under the jurisdiction of these authorities are used (See Part 7 of Art. dated 03.02.96).) and local self-government; thirdly, municipal banks are designed to serve the financial interests of those municipalities on whose initiative they were created.

Recently, the institute of an authorized bank has received significant distribution in the banking system of the Russian Federation. Under authorized banks refers to those credit institutions that have received special permits on a contractual basis government agencies or local self-government bodies to perform, on a permanent or temporary basis, certain financial and credit operations on behalf of this authority or self-government body.

Based on the practice in this area and taking into account the levels of executive power, authorized banks could be divided into four groups:

• authorized banks of the Government of the Russian Federation (federal level of executive power);
• authorized banks of ministries and departments of the Russian Federation (functional-sectoral level of executive power);
• authorized banks of the Governments of the constituent entities of the Russian Federation (regional level of executive power);
• authorized banks of local governments.

The system of authorized banks found practical implementation and at the same time received a theoretical justification in the Moscow region. At the end of 1992, the Moscow government appealed to commercial banks to take part in the effective management of the city budget. Within the established system of authorized banks, which includes 20 commercial banks and the municipal Bank of Moscow, funds allocated by the budget are actively used. The bank, on whose accounts the current balances of budgetary funds are kept, pays interest on them in accordance with the level of interest rates prevailing in the economy. An important activity of the authorized banks of the Moscow Government is the financing of municipal programs for the development of the city. Significant funds were allocated by authorized banks to finance the activities educational institutions cities, hospitals, boarding schools, orphanages, restoration of monuments of material and spiritual culture.

The legal form that secures the status of authorized banks is a bilateral agreement between the bank and the relevant executive authority.

Non-banking credit organizations of Russia

Non-bank credit institutions operating in the Russian banking system are subject to classification according to a combination of banking operations and other transactions of credit institutions for which the given credit institution has a license from the Bank of Russia.

On this basis, there are:

• brokerage and dealer firms;
• investment and pension funds;
• credit unions;
• mutual aid funds, pawnshops;
• leasing, insurance and financial companies and etc.

However, as rightly noted in the literature, in most cases the name of a non-bank credit organization has little to do with its actual activities. This circumstance is explained:

• the extremely high rates of their formation, combined with the vague idea of ​​many organizers about the essence of the institution they are creating;
• poor development of the legal framework regulating the activities of these institutions;
• the prevalence of cases of these organizations carrying out banking operations without state registration and the corresponding license;
• weak control over the activities of these organizations by the Bank of Russia and other relevant state bodies.

Levels of the banking system of the Russian Federation

The history of the formation and development of banking indicates that the totality banking organizations can and has existed in three forms.

The first form was represented by many independent credit institutions, each of which was entitled to carry out any of the banking operations adopted at that time, including the issue of cash. In addition, there were no stable relationships between these credit institutions, and their interaction was not specifically coordinated by anyone. Of course, they were guided by the laws in force in the country, but a special body authorized by the state to manage this segment of the economy has not yet appeared. Many countries of the world have gone through such a stage in the development of banking. We are dealing with the second form when there is only one banking organization in the country, which has an extensive network of branches covering the whole country.

The second form took shape in the USSR and in a number of countries that were part of the socialist camp. We are talking about the State Bank of the USSR and state banks these countries and their affiliates. As in the first form, banking in this case also has a single-level organization.

The third form is such a set of banking organizations that is divided into two numerically unequal parts: on the one hand, the Central Bank and other governing and self-governing bodies of the banking system, and on the other, the rest of credit organizations, banking infrastructure, banking market.

A specific feature of this form is that at least one of the elements of this set - the Central Bank - is authorized by the state to manage the entire set of credit institutions that act in relation to it in the same order and whose functioning is given a coordinated character.

These features indicate that the set of banking organizations has signs of a system and a two-level form of construction. If we carefully consider the banking system of the Russian Federation from these positions, then two types of connections are found in it. Firstly, the relationship between single-order elements of the banking system. Secondly, the connection between the Bank of Russia and other elements of the banking system.

In the first case, the connection provides coordination relations between the indicated elements of the system, and in the second case, it develops into subordination relations, which mainly ensure the integrity of the system.

Indeed, an analysis of the activities of the Bank of Russia in fulfilling the main goals, tasks and functions assigned to it by the Law shows that the Central Bank of the Russian Federation is that element of the banking system that directly implements public administration her. At the same time, methods are mainly used state regulation, economic methods management, which, as already noted, are designed to create favorable economic, legal, organizational conditions for the functioning of credit institutions. At the same time, in the management process, the Bank of Russia also widely uses administrative means of banking regulation.

It follows from this that the credit and banking system of Russia after 1917, after the creation of special banking legislation and the formation of the Central Bank of the country, again acquired a two-level structure. The criterion for assigning elements to a particular level is their position in the system, due to the relationship of subordination. Thus, the Bank of Russia is located at the top level, since it is authorized by the state to regulate the system as a whole, that is, to carry out the function of managing it.

As for commercial banks and other elements of the banking system, in this respect they should be of the same order, completely equal in their relations with each other and constitute the lower level of the system. Unions of associations of credit organizations occupy a special position in this system. Being, as noted, an important component of the mechanism of banking system self-government, they, in our opinion, should be located at the top level of the system, although they are not ranked next to the Bank of Russia, since they are not endowed with power. For example, the decisions of the Association of Russian Banks (ARB) for the banking system of the Russian Federation are not binding.

Thus, the entire set of elements of the banking system of the Russian Federation has a two-level structure:

• upper level - the Bank of Russia, unions and associations of credit institutions;
• the lower level is all other elements of the banking system: commercial banks, non-bank credit organizations, banking infrastructure, banking market.

Based on the materials of the book "Money. Credit. Banks: Textbook for universities / E.F. Zhukov, L.M. Maksimova, A.V. Pechnikov and others; Edited by Prof. E.F. Zhukov" - M .: Banks and exchanges, UNITI, 1999. - 622 p.

The banking system of the Russian Federation assumes the presence of two subsystems, which were finally formed in 1991 after the adoption of a law regulating the activities of banking organizations. The first stage is occupied by the Central Bank or the Bank of Russia, and the second - by the country's commercial trading 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 subject 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 loans for the population. Until 2009, this rate exceeded 11%.

As part of the Russian banking system, the second level includes commercial banks of various types. They can be multi-purpose, savings, special, collateral or industry. To a number of such banks, other structures that have a non-banking nature of activity are added. These are peculiar credit and trade organizations, consisting of funds for investment (investment), insurance companies, trust companies and pension funds.

The legislation fixes 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 rule of universality. 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 a fundamental step in national economy, which determines the existence, development and functioning of banks subordinate to it. The Bank of Russia has great opportunities, the main of which are: granting loans to foreign credit organizations 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 legislation of the country:

1. Protection and provision of the stability of the national currency, the implementation of its purchasing power, as well as the conformity of the exchange rate in relation to other foreign units.
2. Formation and improvement of the banking system, concepts.
3. Monopoly implementation of the issue of available cash and the implementation of their uniform redistribution.
4. Implementation monetary regulation and control.
5. Together with the government bodies of the country, thinking over and implementing a common monetary and credit 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 must perform:

• control over the operation of banking subsystems;
• settlement of issues related to the implementation 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 integral deductions from the funds of credit institutions.

Second level

The second level of the banking system belongs to universal commercial banks, which have the right and license to perform any banking operations.

At the beginning of 2017, about 1,017 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 operate - 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 levels, the sectoral orientation of banks was significantly expanded, which can independently choose their direction (transport, agricultural, housing, trade or consumer).

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

Banking Law Rozhdestvenskaya Tatyana Eduardovna

6. Banking system of the Russian Federation

Currently, in the Russian Federation, as in most countries of the world, there is a two-tier banking system.

Part 1 Art. 2 of the Banking Law contains a provision that banking system The Russian Federation includes the Bank of Russia (upper level), credit institutions, as well as branches and representative offices of foreign banks (lower level). Under foreign bank means a bank recognized as such under the laws of a foreign state in whose territory it is registered.

The Law adopts a narrow approach to defining the elements of the banking system: it includes only entities entitled to directly carry out banking operations (with the exception of representative offices of foreign banks).

The Banking Law also mentions banking groups, banking holdings, unions and associations of credit organizations.

banking group an association of credit institutions that is not a legal entity is recognized, in which one (parent) credit institution exercises, directly or indirectly (through a third party), a significant influence on decisions taken by the management bodies of another (other) credit institution (credit institutions). Significant influence here means the ability to determine the decisions made by the management bodies of a legal entity, the conditions for its conduct entrepreneurial activity due to participation in its authorized capital and (or) in accordance with the terms of the agreement concluded between legal entities that are part of the banking group and (or) part of the banking holding, appoint a sole executive body and (or) more than half of the composition of the collegial executive body legal entity, as well as the ability to determine the election of more than half of the board of directors (supervisory board) of a legal entity.

Bank holding a non-legal entity is recognized as an association of legal entities with the participation of a credit institution (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 (through a third party) exert a significant influence on decisions taken management bodies of the credit institution (credit institutions).

Unions and associations are associations of credit organizations not pursuing the purpose of making a profit ( non-profit organizations) created to protect and represent the interests of its members, coordinate their activities, develop interregional and international relations, meeting scientific, informational and professional interests, developing recommendations for the implementation of banking activities and solving other joint tasks of credit institutions. Unions and associations of credit institutions are prohibited from carrying out banking operations.

According to Art. 2 of the Banking Law, these structures (banking groups, bank holdings, unions and associations of credit institutions) are not directly included in the banking system of the Russian Federation, however, other points of view are expressed in the literature.

test questions

1. Formulate the features of banking law.

2. What is meant by banking law?

3. What is the subject legal regulation banking law?

4. Name the main methods of legal regulation inherent in banking law.

5. List the sources of banking law.

6. List the main federal laws governing banking legal relations.

7. Give general characteristics Federal Law "On the Central Bank of the Russian Federation (Bank of Russia)".

8. Give a general description of the Federal Law "On Banks and Banking".

9. What regulatory legal acts does the Bank of Russia adopt?

10. What is the role of norms international law in the regulation of banking activities in the Russian Federation?

11. What elements are included in the banking system of the Russian Federation?

12. What is meant by a banking group? banking holding?