The banking system is a set of banks operating in the country, credit institutions, individual economic organizations that carry out banking operations and specialized companies that ensure the activities of banks and credit institutions: cash settlement and clearing centers, bank audit organizations, dealer companies working with securities banks, firms providing banks with equipment, information, personnel.

The banking system as an integral part of the country's economic system. Therefore, the activity and development of banks should be considered in close connection with the production, circulation and consumption of tangible and intangible goods.

The banking system is a set of all credit institutions included in the country's economy, each of which has its own special function. They carry out their list of operations, satisfying the need of society for banking services and products.

The banking system is a form of organizing the functioning of specialized credit institutions in the country, which has developed historically and is enshrined in legislation. It has national features, is formed and transformed under the influence of a whole range of factors characteristic of a given region: natural and geographical conditions, climate, national composition of the population, its occupations and trades, contacts with neighbors, trade routes, etc.

The banking system operates on the basis of laws and relevant regulations, which together form the infrastructure that consolidates and regulates it. In general, it reflects the main, fundamental directions of the development of society.

The banking system can be represented as the following blocks and their elements:
1. Fundamental block:
Bank as a monetary institution.
Banking rules.
2. Organization block:
Types of banks and non-bank credit institutions.
Fundamentals of banking.
Organizational basis of banking activity.
banking infrastructure.
3. Regulating block:
State regulation of banking activity.
banking legislation.
Regulations of the Central Bank.
Guidance materials developed by commercial banks in order to regulate their activities.

The elements of the banking system are: banks and non-bank credit organizations, banking infrastructure, banking legislation. Banks and non-bank credit organizations are the main elements of the banking system, as they directly carry out banking operations and provide banking services. They may have different rights and obligations and, accordingly, carry out operations and provide services only within the limits of their authorized powers, which forms the structure and, within the framework of a single structure, different levels of the banking system.

Blocks and elements of the banking system form a unity, reflecting the specifics of the whole, and act as carriers of its properties. The banking system has the following features:
1. It is not a random variety, a random collection of elements. It cannot mechanically include entities that also operate on the market, but are subordinated to other goals. It includes elements subordinated to a certain unity, corresponding to common goals.
2. The banking system is specific, it expresses the properties that are characteristic of itself, in contrast to other systems operating in the national economy. The specificity of the banking system is determined by its elements and the relationships that develop between them.
3. Interchangeability of parts of the system. Its individual parts (different banks) are connected in such a way that they can, if necessary, replace one another. If one bank is liquidated, the whole system does not become incapacitated - another bank appears that can perform banking operations and provide banking services.
4. The system as a whole is constantly in motion, it is supplemented with new components, and also improved. New connections are constantly being created within her.
5. The banking system is a "closed" system. Since, despite the exchange of information between banks, there is a banking secrecy. By law, banks do not have the right to provide information about the balance of funds in accounts, about their movement.
6. It has the character of a self-regulating, i.e., self-regulating system. Changes in the economic environment, the political situation inevitably leads to an automatic change in banking policy.
7. The banking system is manageable. The Central Bank, pursuing an independent monetary policy, is accountable in various forms only to the parliament or the executive authority. Commercial banks operate in accordance with general and special banking legislation, their activities are regulated by economic standards established by the central bank, which controls the activities of credit institutions.

STRUCTURE OF THE BANKING SYSTEM

The banking system includes a central bank, a network of commercial banks and other credit and settlement centers. In most market economies, there is a two-tier structure that involves both horizontal and vertical relationships between banks.

The need to create a two-tier banking system is due to the contradictory nature of market relations. On the one hand, they require the freedom of enterprise and the disposal of financial resources, and this is provided by elements of the lower level - commercial banks. On the other hand, these relations require certain regulation, control and targeted impact, which requires a special institution in the form of a central bank. The creation of central banks with the function of regulating monetary relations made it possible to effectively curb the elements of the market while maintaining the freedom of private enterprise.

The structure of the banking system is reduced to the distribution of all banking and credit institutions in a hierarchical order. It distinguishes the central link and grassroots functional organs.

At the highest level of the hierarchy is the Central Bank of the Russian Federation, the most important function of which is to conduct the monetary and foreign exchange policy of the government in order to achieve national economic goals. The bank acts as an intermediary between the government and the financial markets.

At the lowest level of the banking hierarchy are commercial and specialized banks. They are engaged in the accumulation of free cash resources in the form of deposits (deposits), maintenance of current accounts and all types of settlements between the relevant economic entities that are their clients.

The structure of the banking system also has a division into sectors, which include institutions similar in function. For example, consumer credit banks, land banks, the sector of leasing institutions and others. The main purpose of this division is to establish regulatory procedures depending on the characteristics of the operations of institutions in a particular sector.

The classification of the types of the banking system based on the allocation of its various levels in modern economic literature is the subject of discussion. The reason for this is the confusion of the concepts of banking and credit systems. Based on the generally accepted criterion of subordination of banks, only one or two levels of the banking system can be distinguished, while the second level, depending on the characteristics of the country, can have a rather complex structure, include several groups of banks with a pronounced specificity of activity.

The banking system of Russia is a two-tier system, the first level of which is represented by the Bank of Russia, and the second - by commercial banks. The system itself is not new - in Russia it was created in the image of the banking system in England.

The basic principles of the organization of the banking system, enshrined in the legislation of the Russian Federation, imply not only the presence of two levels, but also the principle of the universality of banks.

If you look at the structure of the banking system, then the credit institutions represented at the second level of the system can be divided into 3 categories:
- banks;
- non-bank credit organizations;
- branches of representative offices of foreign banks.
All banking structures can also be represented by the following varieties:
- private banks;
- banks with state participation;
- banks with the participation of foreign capital.
Non-bank credit organizations can be divided into:
- non-bank credit and deposit organizations;
- Settlement non-bank credit institutions;
- non-bank credit collection organizations.

The essence of the principle of universality of the structure of the banking system is to provide all commercial banks in the country with universal functionality, namely, permission to carry out long-term investment or short-term commercial operations permitted by law or provided for by banking licenses. At the same time, as such, the legislation does not provide for a distinction between banks by types of operations performed.

In the conditions of modern society, the banking system of Russia is constantly developing and changing, its structure is becoming more complicated. This is due to the development of financial and commodity markets, the emergence of new tools and methods of customer service, new types of financial and credit institutions.

TYPES OF BANKING SYSTEM

International practice knows several types of banking systems:
- distribution centralized;
- market;
- transition period system.

The distributive (centralized) banking system exists in the conditions of a command-administrative economy and is characterized by a state monopoly on banking. The country has one or more state-owned banks with many local branches. The state is responsible for the obligations of banks, banks are subordinate to the government and depend on its operational activities, credit and emission operations are concentrated in one bank, the head of the bank is appointed by the central or local authorities by higher authorities. Banking activities are regulated by legal documents.

The market-type banking system is characterized by the absence of a state monopoly on banking activities. Banking competition is typical for the banking system in market conditions. Issuing and lending functions are separated from each other. The issue of money is concentrated in the central bank, lending to enterprises and the population is carried out by various business banks - commercial, investment, innovative, mortgage, savings, etc. Commercial banks are not liable for the obligations of the state, just as the state is not liable for the obligations of commercial banks.

A centralized banking system was built in the USSR and in many other socialist countries. In the USSR, it consisted of three state banks (Gosbank, Stroybank, Vneshtorgbank) and a system of savings banks.
The State Bank of the USSR, in addition to issuing and cash settlement activities, performed the functions of lending to various sectors of the national economy (providing short-term loans to industry, transport, communications and long-term loans to agriculture).
Stroybank carried out long-term lending and financing of capital investments in various sectors of the national economy (except agriculture).
Vneshtorgbank provided loans to foreign trade, dealt with international settlements, transactions with foreign currency, gold and precious metals.
Savings banks attracted cash deposits from the population, paid for utilities and other services.

The monopoly of the three state-owned banks led to the fact that loans often served as a second budget. Under these conditions, the effective potential of the credit mechanism was not used, it was not possible to pursue an active monetary policy with the instruments that are known in countries with a market economy.

The main functions of the banking system:
- ensure the functioning and development of the economy by providing bank loans and organizing a settlement system;
- mediation in the movement of funds from creditors to borrowers and from sellers to buyers;
- accumulation of temporarily free resources in the country;
- crediting of production, circulation of goods and needs of individuals.

The banking system is the main link in the financial and credit system of the state, since it bears the burden of credit and financial services for the economic turnover of the country.

The banking system of Russia constantly and quite successfully performs its functions, providing settlements between all parts of the economy, redistributing temporarily free funds.

DEVELOPMENT OF THE BANKING SYSTEM

The development of the banking system is influenced by a number of macroeconomic and political factors. Of these, the following can be distinguished:
- the degree of maturity of commodity-money relations;
- social and economic order, its intended purpose and social orientation;
- legislative bases and acts;
- a general idea of ​​the nature and role of the bank in the economy.

The development of the banking system is influenced by the development of national markets for international trade. The demand for banking services is expanding as production increases, the scale of exchange between producers.

The development of the banking system is also greatly influenced by general ideas about the nature and role of the bank in the economy. The social and economic order inevitably affects the nature of its activities. Political factors also affect its state and current development. Here, first of all, the general political orientation of the state is important.

With the general progressive development of the banking economy, it can at the same time be restrained by wars that are associated with the destruction of material wealth and property. Protracted economic crises also have a negative impact on the banking system.

The legislative base of the country has a great influence on the development of the banking system. In some countries, banks are prohibited from performing certain transactions with securities, investing their capital in the capital of enterprises. In a number of countries, banks are not allowed to engage in insurance.

A significant factor determining the development of the banking system is interbank competition. The presence of a sufficiently large number of independent banks in the country and its individual regions creates a certain environment in which they are forced to fight for the client, improve the quality of service, expand services, offer the market new products.

The development of the banking system can be constrained by such factors as excessive tax pressure on bank profits, lack of sufficient resources for active banking operations, lack of qualified personnel, etc. In countries with economies in transition, it is often these factors that prevent banks from taking wider steps in its development.

In recent years, the Russian banking system has been developing intensively, and positive trends have emerged in this development. Credit institutions began to strive for the greatest transparency, openness to customers. Advanced business models, new banking technologies, and various types of lending are being introduced.

However, according to all indicators, the banking system of Russia lags far behind developed countries. Despite high growth, the volume of loans issued does not correspond to the economic growth goals facing the country. The share of bank loans in the structure of sources of financing of capital investments of Russian enterprises remains insignificant compared to developed countries. Most of the population is not included in the banking system. According to statistics, in Russia only 25% of Russians have bank accounts, while in Western European countries - the entire adult population. A small part of the population uses plastic cards, when in developed countries there are 1-2 cards for every inhabitant.

1.1 The concept and features of the banking system…………………………….5

1.2 Models of banking systems……………………………………………..7

2.Functions and role of banks in the country's economy

2.1 Central Banks………………………………………………….....12

2.2 Commercial banks…………………………………………………...16

1. Principles of construction and structure of the modern banking system of the Russian Federation…………………………………………………………………………………..19

2. Types of banks in the Russian Federation and organizational and economic foundations

Their functioning…………………………….………………………25

3. Monetary policy of the Russian Federation……………………………………….32

Conclusion…………………………………………………………………….37

List of used literature…………………………….……………..38

Introduction
Banks are a very ancient economic invention. They originated in ancient times as firms specializing in providing a special kind of service: savings and providing loans. Over time, banks have also mastered activities related to the organization of payments for goods bought and sold within the country and on the world market. This made it possible to speed up payments and increase their reliability, which had a positive impact on the development of trade and the world economy as a whole.

Now they are an integral feature of the modern money economy, their activity is closely connected with the needs of reproduction. Being at the center of economic life, serving the interests of producers, banks are the link between industry and trade, agriculture and the population. At the same time, banks, by conducting cash settlements, lending to the economy, acting as intermediaries in the redistribution of capital, significantly increase the overall efficiency of production, contribute to the growth of the productivity of social labor.

The role of the banking system in the modern market economy is enormous. All the changes that take place in it affect the entire economy in one way or another. Proper organization of the banking system is necessary for the normal functioning of the country's economy. Creating a stable, flexible and efficient banking infrastructure is one of the most important (and extremely difficult) tasks for Russia's economic development.

The purpose of this course work is a detailed study of the essence of banks, their place and role in the country's financial system. To achieve this goal, it is necessary to solve the following tasks:

To study the essence and structure of the banking system

Separately consider the functions and role of commercial and central banks

Consider the types of banks and the modern banking system in the Russian Federation

To study the functions of the Central Bank of the Russian Federation

Consider the principles of monetary policy in the Russian Federation

In the first chapter of this work, the main theoretical aspects related to the activities of banks are considered. In the second feature of the functioning of the banking system in .

^ 1. Banking system

1.1 The concept and features of the banking system
The concept of "system" is widely used by modern science. It correlates with the study of diverse phenomena of nature and social development. However, the term "system" has not received a clear definition. Most often, the word “system” refers to the composition of something. The Federal Law “On the Central Bank of the Russian Federation (Bank of Russia)” (1995) notes that the banking system includes the Central Bank, credit organizations and their associations Such an interpretation is not accidental (“system” from Gr. systeme - a whole made up of parts, a connection).

Below are the main properties and features that characterize the banking system.

1. The banking system, first of all, is not a random variety, a random collection of elements. It cannot mechanically include entities that also operate on the market, but are subordinated to other goals.

2. The banking system is specific, it expresses properties that are characteristic of itself, in contrast to other systems functioning in the national economy. The specificity of the banking system is determined by its constituent elements and the relationships that develop between them.

When the banking system is considered, then, first of all, it means that it includes banks as a constituent element, which, as monetary institutions, give a "color" to the banking system.

At the same time, this should not be understood in such a way that the essence of the banking system is the addition of the essences of its elements. The essence of the banking system is not an arithmetic operation, but penetration into a new, broader essence, covering the essence of not only individual elements, but also their interconnection. The essence of the banking system is addressed not only to the essence of private, constituent elements, but also to their interaction.

3. The banking system can be represented as a whole, as a variety of parts subordinate to a single whole. This means that its individual parts (different banks) are connected in such a way that they can replace one another if necessary. If one bank is liquidated, the whole system does not become incapacitated - another bank appears that can perform banking operations and services. At the same time, new parts may join the banking system, replenishing the specifics of the whole.

4. The banking system is not in a static state; on the contrary, it is constantly in dynamics. Two points stand out here.

Firstly, the banking system as a whole is constantly in motion, it is supplemented with new components, and also improved.

Secondly, new connections are constantly emerging within the banking system. Interaction is formed both between the central bank and commercial banks, and between them. Banks participate in the market of interbank loans, offer "long" and "short" money for sale, buy money resources from each other. Banks can provide each other with other services, for example, participate in joint projects to finance enterprises, form associations and unions.

5. The banking system is a "closed" system. In the full sense, it cannot be called closed, since it interacts with the external environment, with other systems. In addition, the system is replenished with new elements corresponding to its properties. However, it is “closed”, because, despite the exchange of information between banks and the publication by central banks of special statistical collections, information guides, bulletins, there is a banking “secret”. By law, banks do not have the right to provide information about the balance of funds in accounts, about their movement.

6. The banking system is "self-organizing", since a change in the economic situation, the political situation inevitably leads to an "automatic" change in the bank's policy.

7. The banking system acts as a controlled system. The Central Bank, pursuing an independent monetary policy, is accountable in various forms only to the parliament or the executive branch. Business banks, being legal entities, operate on the basis of general and special banking legislation, their activities are regulated by economic standards established by the central bank, which controls the activities of credit institutions.

The banking system is not isolated from the environment, on the contrary, it closely interacts with it, is a subsystem of a more general education, which is the economic system. Being part of a more general one, the banking system functions within the framework of general and specific banking laws, is subject to the general legal norms of society, its acts, although they express the features of the banking sector, can, however, be introduced into the general system, like itself, only if if it does not contradict the general foundations and principles, it builds a common system as a whole.
^ 1.2 Models of banking systems
As noted earlier, the banking system is a single whole, the parts of which are interconnected and interact with each other, and the system itself simultaneously depends on the properties of these parts.

The banking system of any country was formed as a result of the development of the national economy, at present it has become the center of the economic mechanism and interacts with all sectors of the economy, with the population, public authorities, exerting a certain influence on them. The effective functioning of the banking system is a catalyst for the overall development of the national economy.

Banking systems in different countries were formed far from the same. Historical, political, ethnic, religious and even climatic factors influence this process. Despite this, there are certain general principles for building the banking system at the national level.

First, there is a legislative separation of the functions of the central bank and all other banks. In practice, this gives rise to a two-tier banking system. The central bank, being at the top level, performs such important functions as:

* issue of cash means of payment;

* "bank of banks" function

* government banker;

* Monetary regulation of the economy.

In some countries, central banks also perform the function of regulating and supervising the activities of banks.

Second-tier banks provide intermediation in credit and investment, payments and other banking services. Their activities reduce the degree of risk and uncertainty in the economy, both within the country and abroad. Concentrating in their hands the bulk of the loan capital, banks bear the brunt of credit servicing of economic turnover.

Secondly, the central bank does not compete with commercial and other banks of the country that are at the lower level of the credit system. Its activities are aimed at the implementation of the economic policy of the government, the achievement of national goals.

Thirdly, in all countries there is a special system of regulation and control over the activities of banks. In some countries, including Russia, the central bank performs regulatory and supervisory functions in relation to banks, in others they are assigned to special state bodies (for example, in France, to the Banking Commission). But there are states where the activities of commercial and other banks are controlled and regulated by the Ministry of Finance. Regardless of this, in all countries, banking activity is one of the most controlled business areas. Control is aimed at maintaining the liquidity of banks and protecting the interests of depositors and investors.

The Central Bank is the issuing bank and banker of the government. Performing the first function, it monopolizes the issue of banknotes. As the government's banker, this bank has close ties with it, advises it, and pursues a certain monetary policy that is linked to the economic policy of the state. The Central Bank is the bank of all other banks in the country.

In countries with developed market economies, different models of banking systems have developed. They differ in the nature of the relationship between banks and the corporate sector of the economy, the degree of specialization of credit institutions.

By the nature of the relationship between banks and industry there are two models: open market and corporate regulation. According to the first model, there are no close and stable ties between banks and corporations. Corporations can use banking services simultaneously in several banks. The latter do not give preference to economic entities on the basis of the “our client” principle. Benefits are possible for those borrowers who provide the most profitable and less risky use of a bank loan. Such a model has been formed in the United States, where the establishment of close and exclusive economic relations between banks and industry is not practiced. The model of corporate regulation, on the contrary, is characterized by the presence of close, stable ties between banks and corporations. Banks can act both as direct shareholders of enterprises and as depositories of shares of small shareholders, who also transfer the right of their vote to banks. This enhances the role of banks in the creation and operation of corporations, in maintaining their financial stability. This model of the banking system has developed in Germany and Japan.

By level of specialization distinguish between universal and specialized models of the banking system. With the specialized model that has developed in the USA, Canada, and Japan, until recently, banks were prohibited from simultaneously engaging in short-term lending and long-term capital investment. Operations with corporate securities in such banking systems are carried out by specialized investment banks.

In European countries (for example, in Germany, Switzerland), a universal model of the banking system has been developed, which allows a combination of short-term lending with investments in corporate securities in the activities of banks. Through such banks in these countries there is a significant turnover of stock values, first of all, this concerns the placement of securities of private corporations.

At present, the main model of the organization of European banks is a universal bank that carries out all types of banking operations, including operations with securities.

Currently, there are processes of convergence of various models of banking systems, which is due to such phenomena as globalization and deregulation. The first of them can be characterized as the exit of economic and political processes beyond national borders and the formation of a single economic and political space. In the banking sector, globalization is accompanied by the deregulation of banking activities and the liberalization of financial markets.

The deregulation of the banking sector is expressed in the elimination of institutional distinctions between various types of banking and, in a broader sense, financial activities: commercial, investment, insurance, etc. As a result, banks are forced to compete simultaneously in many segments of the financial market, not only with each other, but also with other financial organizations: insurance, financial companies, investment funds, etc. Deregulation was caused by the need to improve the efficiency of the functioning of banking systems.

The banking system, like any system, must work stably and efficiently. Stability involves the functioning of banks in accordance with their goals and objectives. It is violated if individual banks have financial difficulties that develop into bankruptcy. The situation when a series of bank failures occurs and disruption of the functioning of the entire banking system is called a banking crisis.

Western economists have established a relationship between the efficiency and stability of the banking system, which is expressed in the fact that it is impossible to have maximum stability and maximum efficiency. The more efficient the banking system, the better it allocates capital in accordance with the relative rate of return hierarchy that exists in the economy.

As you know, competition allows to increase efficiency, an open and competitive capital market is able to provide higher efficiency than a regulated system.

2.Functions and role of banks in the country's economy

^ 2.1 Central banks
The main link in the banking system of any state is the central bank of the country. In different states, such banks are called differently: people's state, emission, reserve, the Federal Reserve System (USA), the Bank of England, the Bank of Japan, the Bank of Italy, etc.

The activity of any central banks, as follows from the analysis of their historical development and current position in the market system, is subject to the following main goals: ensuring the stability of the purchasing power and the exchange rate of the national monetary unit, the liquidity of the banking system, the creation of an effective and uninterrupted management payments, including cash payments.

This logically implies the main activities and tasks that the central bank solves to achieve its goals. The central bank is acting emission center of the country, is an "bank of banks", government banker, and is also faced with the task of implementing monetary regulation the country's economy.

To solve these problems, the central bank performs a number of functions.

^ emission function. The oldest function of the central bank is function of monopoly issue of banknotes. The Central Bank, being a representative of the state, performs the emission monopoly assigned to it in relation to bank notes, i.e. carries out the issue of nationwide credit money. The issue of the central bank is understood as the release into circulation of money exclusively in cash. Although banknotes make up a small part of the money supply, they are essential for retail payments and to provide liquidity to the banking system. To perform the issuing function, each central bank has specialized units that carry out issuing and cash work. They run a printing house that prints banknotes.

Central bank notes are unrestricted legal tender, and there are no other entities that would replace it as such and issue notes as an unconditional means of payment and repayment of any debt obligations within the country. As for coins, in some countries the central bank also has a monopoly on their issue, but usually the ministry of finance (treasury) deals with their minting. In such cases, the central bank buys coins at face value from the latter, and the difference between the face value and their cost goes to the state budget. The coins bought by the central bank go into circulation along with banknotes. There are practically no developed countries left (except Belgium and the USA), where even the formal division into treasury and bank notes is preserved. In the UK, for example, it was abolished 60 years ago.

^ The function of managing gold and foreign exchange reserves. Traditionally, the central bank is their custodian in the country, performs the function of managing gold and foreign exchange reserves. At present, the official gold reserve serves as a reserve asset and a guarantee and insurance fund in international settlements. Central banks concentrate large reserves of gold. In a number of countries, they are managed by the Ministry of Finance, while the bank carries out technical operations with gold. In addition to gold, currency reserves are also concentrated in central banks. Gold and foreign exchange reserves are used for international settlements, covering the deficit in the balance of payments, maintaining the exchange rate of the national currency and other purposes.

^ The function of the "bank of banks" - The Central Bank does not work directly with legal entities and individuals. His clients are commercial banks. Being - "bank of banks", the central bank keeps free cash reserves of commercial banks, serves as the clearing house of the banking system and provides loans to it, in some countries it acts as a bank regulation and supervision body. As the settlement center of the banking system, the central bank performs the functions of the regulatory body of the country's payment system, it coordinates the organization of settlement systems. In many countries, the central bank and its territorial divisions perform the functions of a national clearing center that performs settlements at the national level and with foreign banks.

The Central Bank does supervision and control over banks, to maintain the reliability and stability of the banking system, to protect the interests of depositors and creditors. The nature of the implementation of banking supervision by the central bank in different countries has significant features, but everywhere it plays an important role in the functioning of the country's banking system. The supervisory function in a number of countries is carried out exclusively by the central bank (Italy, Russia, Austria). In Germany, the USA, France, Switzerland, the latter conducts this work together with the treasury, the banking commission and other bodies, which closely cooperate with central banks in their supervisory activities. In Austria, Denmark, Canada, Norway, the control function is carried out not by the central bank, but by other bodies.

Supervision of the central bank over commercial banks is carried out by issuing licenses for banking activities and conducting certain types of operations (for example, foreign exchange, with securities, etc.), as well as checking and analyzing the financial statements of commercial banks, auditing their activities , establishing various standards and monitoring their implementation. Supervision is most often regulated by special laws and regulations.

The internationalization of banking has led to the fact that banking supervision has recently become international in nature. In 1975, the Basel Committee of Banking Supervision was established. Its meetings are held in Basel, at the Bank for International Settlements, where the secretariat of the Committee is located. The initiator of the creation of an international committee of banking supervision was the director of the Bank of England, Peter Cook, so this committee is also called the “Cook Committee”.

^ Government banker function. Central banks are closely linked to the state. The Central Bank acts as the government's cashier, its creditor, and financial advisor. Accounts of the government and government departments are opened in the central bank. In some countries, the latter conducts the cash execution of the state budget. Government revenues, which come from taxes, loans, are credited to an interest-free account of the Treasury or the Ministry of Finance in the central bank, and the government pays all its expenses from it.

^ The function of monetary regulation. The Central Bank, together with the government, develop and implement a unified monetary policy aimed at ensuring stable economic growth, reducing inflation and unemployment, and normalizing the balance of payments. Monetary and credit regulation of the economy is carried out by the central bank by influencing the volume of money supply, the level of interest rates and the state of liquidity of the banking system. The object of this regulation is also the exchange rate of the national monetary unit. This impact can be exerted both administratively and economically.

^ Administrative impact is carried out through the establishment of direct restrictions on the activities of banks, credit limits, "ceilings" of interest rates, etc., as well as through a strict legislative separation of functions between different types of banks.

^ Economic methods of monetary regulation changes in interest rates (accounting policy), regulation of required reserves, operations on the open market are considered. Within the framework of monetary regulation, the central bank implements the state monetary policy. He maintains the regime of the exchange rate of the national currency, regulates it, conducts foreign exchange interventions.

^ Foreign economic function. In the course of its activity, the central bank carries out all the work on international settlements, the balance of payments, the movement of currency values, cooperates with the central banks of other countries, international monetary organizations, i.e. performs foreign economic function.
^ 2.2 Commercial banks
Commercial banks are the main link in the two-tier banking system.

Today, the group of commercial banks in different countries includes a number of institutions with different structures and different ownership relationships. Their main difference from central banks is the lack of the right to issue banknotes. There are two types of commercial banks - universal and specialized.

The Universal Bank carries out all or almost all types of banking operations: the provision of both short-term and long-term loans; operations with securities; acceptance of deposits of all types; provision of all kinds of services, etc.

A specialized bank, in contrast, specializes in one or more banking activities. In some countries, banking laws prevent or simply prohibit banks from carrying out a wide range of operations. Specialized banks include: investment, mortgage, savings and other banks.

^ Principles of activity of a commercial bank.

The first and fundamental principle of the activity of a commercial bank is to work within the limits of actually available resources. This means that a commercial bank must ensure not only a quantitative correspondence between its resources and credit investments, but also ensure that the nature of bank assets matches the specifics of the resources it has mobilized. First of all, this applies to the terms of both. If a bank raises funds primarily for the short term and invests it primarily in long-term loans, then its liquidity is at risk.

The second principle is economic independence, which implies the economic responsibility of the bank for the results of its activities. This implies the freedom to dispose of the bank's own funds and attracted resources, the free choice of customers and depositors, and the disposal of the bank's income. A commercial bank is liable for its obligations with all the funds and property belonging to it, on which a penalty may be imposed. The commercial bank assumes all risk from its operations.

The third principle is that the relationship of a commercial bank with its customers is built as normal market relations. When providing loans, a commercial bank proceeds primarily from market criteria of profitability, risk and liquidity.

The fourth principle of the operation of a commercial bank is that regulation of its activities can be carried out only by indirect economic (rather than administrative) methods. The state determines only the "rules of the game" for commercial banks, but cannot give them orders.
^ Functions of a commercial bank.

One of the most important functions of a commercial bank is credit intermediation, which they carry out by redistributing funds temporarily released in the process of circulation of enterprise funds and cash incomes of individuals. The redistribution of resources is carried out along the horizontal line of economic relations from the lender to the borrower on the terms of payment and repayment. The fee is formed under the influence of supply and demand for borrowed funds.

The second most important function of commercial banks is to stimulate savings in the economy. Commercial banks, acting on the financial market with a demand for credit resources, should not only mobilize the savings available in the economy to the maximum, but also form sufficiently effective incentives to accumulate funds. Incentives for the accumulation and saving of funds are formed on the basis of a flexible deposit policy of commercial banks. In addition to the high interest paid on deposits, bank creditors need guarantees of high reliability of the placement of resources in the bank and the availability of information about the activities of commercial banks.

The third function of banks is mediation in payments between individual independent entities.

Chapter II

1. 
   ^ Principles of construction and structure of the modern banking system of the Russian Federation

The modern banking system of Russia was created as a result of reforming the state credit system that developed during the period of a centrally planned economy. Banks in the Russian Federation are created and operate on the basis of the Federal Law of July 7, 1995 No. 395-1 “On Banks and Banking Activities” (as amended on March 21, 2002), which defines credit institutions and banks, lists the types banking operations and transactions, the procedure for the creation, liquidation and regulation of the activities of credit organizations, etc. has been established. The current legislation enshrined the basic principles of the organization of the Russian banking system, which include the following: a two-tier structure, the implementation of banking regulation and supervision by the central bank, the universality of business banks and the commercial orientation of their activities.

^ Principle of two-level structure is implemented through a clear legislative separation of the functions of the central bank and all other banks. The Central Bank of the Russian Federation, as the top level of the banking system, performs the functions of monetary regulation, banking supervision and management of the system of payments and settlements in the country. He can conduct banking operations necessary to perform these functions only with Russian and foreign credit institutions, as well as with the Government of the Russian Federation, representative and executive bodies of state power, local governments, state extra-budgetary funds, military parts. The Bank of Russia does not have the right to carry out banking operations with legal entities that are not credit institutions, and with individuals (except military personnel and employees of the Bank of Russia). It cannot directly enter the banking market, provide loans directly to enterprises and organizations, and should not compete with commercial banks.

Commercial banks and other credit institutions form the second, lower level of the banking system. They mediate in settlements, lending and investing, but do not take part in the development and implementation of monetary policy, but are guided in their work by the parameters of the money supply, interest rates, inflation rates, etc. established by the Bank of Russia.

^ The principle of implementation of banking regulation and supervision by Mitral Bank is reflected in the fact that in the Russian Federation the body of banking regulation and supervision is the Central Bank of the Russian Federation. In most European countries, however, banking regulation powers have been transferred to special banking supervisory bodies: the Banking Commission in France, the Federal Credit Control Authority in Germany, the Financial Services Authority in the UK, etc. The Bank of Russia, as a regulatory body, establishes the rules for conducting banking operations, accounting and reporting for credit institutions, limits on risks, and other prudential norms for banking activities. He also oversees compliance with established norms and rules, conducts inspections of banks and non-bank credit organizations. The Bank of Russia acts as a licensing authority in relation to credit institutions: it issues and revokes licenses for banking operations, registers bank branches on the territory of the Russian Federation, issues permits for opening foreign branches, as well as for the participation and capital of non-resident credit institutions .

Along with the Bank of Russia, other state bodies also regulate the activities of banks as legal entities. Thus, the interaction of banks in the banking services market, the development of competition between them is the object of regulation by the Ministry of the Russian Federation for Antimonopoly Policy and Entrepreneurship Support. The work of banks in the securities market is regulated and controlled by the Federal Commission for the Securities Market. In addition, banks, as taxpayers, are subject to the regulatory influence of the Ministry of Finance of the Russian Federation and the Ministry of Taxes and Duties of the Russian Federation, and as currency control agents, they interact with the State Customs Committee of the Russian Federation and the Ministry of Foreign Economic Relations of the Russian Federation. However, all these departments, for the most part, do not establish special norms and requirements for banks, but regulate their activities in a general manner in the same way as any other legal entities.

^ The principle of universality of Russian banks means that all banks operating on the territory of the Russian Federation have universal functionality, in other words, they have the right to carry out all operations provided for by law and banking licenses - short-term commercial and long-term investment. The legislation does not reflect the specialization of banks by types of their operations.

^ The principle of commercial orientation of second-tier banks It is expressed in the fact that according to the legislation, the main goal of the activities of banks and credit organizations in the Russian Federation is to make a profit. The modern banking system of Russia includes the Bank of Russia, credit institutions, branches and representative offices of foreign banks. It should again be noted that the legislation narrowly interprets the concept of a credit organization, understanding it as a legal entity that, in order to extract profit as the main goal of its activities, on the basis of a special permit (license) of the Central Bank of the Russian Federation, has the right to carry out banking operations provided by law. All credit institutions licensed by the Bank of Russia are included in the banking system of the Russian Federation. At the same time, according to the Law "On Banks and Banking Activities" in the Russian Federation, it is possible to create two types of credit organizations: banks and non-bank credit organizations. In turn, the latter can be of three types: settlement, deposit-credit and non-bank credit collection organizations. Thus, at present, there are practically two groups of credit organizations in the Russian Federation: those included in the banking system, which, based on the content of their activities, can be called banks with a limited range of operations, and those not included in the banking system (credit cooperatives). , credit unions, pawnshops, factoring, leasing companies, etc.). The second group of credit organizations is sometimes called parabanking (similar to banking).

Bank according to Russian law, it is a credit institution that has the exclusive right in the aggregate to carry out the following banking operations:

Attract funds from individuals and legal entities into deposits;

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

Open and maintain bank accounts for individuals and legal entities.

^ Banking groups . A feature of the modern Russian banking system is the predominance of small and medium-sized banks in it, while the main sectors of the national economy are still dominated by large enterprises that require large amounts of external financing. One of the possible ways to overcome the contradiction between the structures of the banking system and the real sector of the economy is the creation of banking groups and banking holdings, which is provided for by the current legislation.

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

Bank holding - is an association of legal entities with the participation of credit institutions that is not a legal entity, in which the legal entity (the head organization of the banking holding), which does not represent a credit institution, has the ability to directly or indirectly (through a third party) have a significant influence on decisions made by the management bodies of credit institutions.

Their parent organizations are required to notify the Bank of Russia about the creation of banking groups and banking holdings. Since, according to the current legislation 1, credit institutions are prohibited from entering into agreements and taking concerted actions aimed at monopolizing the banking services market and restricting competition in banking, the acquisition of shares (stakes) in credit institutions, as well as the conclusion of agreements, providing for the exercise of control over their activities, should not contradict the antimonopoly rules. The Bank of Russia monitors compliance with the latter together with the RF Ministry for Antimonopoly Policy and Entrepreneurship.

^ Banking Associations. Credit institutions included in the banking system may create unions And associations , not providing for the purpose of making a profit. Their activities are aimed at protecting the interests of member organizations and coordinating their efforts in various areas. Unions and associations of credit institutions are prohibited from carrying out banking operations. In Russia, the largest association is the Association of Russian Banks (ARB).

^ Agency for the Restructuring of Credit Organizations (ARKO). The characterization of the modern structure of the banking system of the Russian Federation will not be complete, if not to name ARCO, whose place in the banking system does not have a clear legislative definition. It was created in January 1999 to implement the developed program for the restructuring of the banking system. Initially, ARCO was established as a non-bank credit organization "Agency for the Restructuring of Credit Organizations" (NCO "ARCO"), the purpose of which was, first of all, to overcome the crisis of the banking system, restore its ability to fully ensure the fulfillment of its basic functions. In connection with the entry into force of the Federal Law of July 8, 1999 No. 144-FZ "On the Restructuring of Credit Institutions" (as amended on March 21, 2002 ) in July 1999 NPO "ARKO" was transformed into the State Corporation "Agency for the Restructuring of Credit Institutions", the legal status, functions and powers of which are also determined by the Federal Law of January 12, 1996 No. 7-FZ "On non-profit organizations" (as amended on 12/28/02). This Law clearly defined the powers to restructure the banking system of the Bank of Russia and the State Corporation "Agency for the Restructuring of Credit Institutions", as well as the conditions and procedures for interaction between the Bank of Russia and ARCO, the latter has the right to carry out the following operations and transactions ki in relation to credit institutions when carrying out measures for their restructuring.

The level of provision of the population with commercial banks and branches in Russia currently averages about 3.4 banking institutions per 100 thousand inhabitants. According to this indicator, Russia lags far behind most developed Western countries.
^ 2. Types of banks in the Russian Federation and organizational and economic

basics of their functioning
According to the legislation in force in the Russian Federation, banks can be created on the basis of any form of ownership in the form of a business entity.

By ownership of capital all banks operating in the Russian Federation can be classified as follows: banks based on private property, i.e. their owners are non-state enterprises, organizations and individuals; banks with state participation; banks with foreign capital.

Banks with state participation - these are banks, in the capital of which organizations representing the state participate. According to some estimates, there are currently 23 credit institutions in the authorized capital of which the share of state participation exceeds 50%. At present, there is no special legislation in Russia regulating the creation and operation of credit institutions with state participation. The forms and procedure for the participation of federal property in the authorized capital of credit institutions are determined by separate federal laws for each bank.

The Bank of Russia currently owns controlling stakes in Sberbank and Russian foreign banks. Controlling stakes in 19 credit institutions are owned by executive authorities and state unitary enterprises. These credit institutions include Vneshtorgbank, Rosselkhozbank, the All-Russian Regional Development Bank, etc. The largest banks with state participation are Sberbank and Vneshtorgbank. Savings Bank of the Russian Federation occupies a leading position in almost all indicators of banking activity - capital, banking assets, investments in government securities, etc. By the beginning of 2002, Sberbank's equity capital reached 95.7 billion rubles. It accounts for over 15% of the total capital of Russian banks, 26% of all banking assets, almost 35% of payments using plastic cards. In terms of the number of branches, it is comparable to the largest banks in Europe (as of December 1, 2003 there were 1163 "). Sberbank is actually a monopolist in the market of bank deposits of the population. The largest bank, the controlling stake of which belongs directly to the Government of the Russian Federation , is Vneshtorgbank. Bank of Foreign Trade of the Russian Federation (Vneshtorgbank) was established in 1990 and is currently one of the leading banks in the country. Its authorized capital is 42.1 billion rubles. At present, the Government of the Russian Federation is the largest shareholder of Vneshtorgbank with a 99.9% share.

In countries in transition to a market economy, including Russia, banks with state participation play a stabilizing role, ensuring the maintenance of confidence in the banking system and lending to the real sector in conditions of uncertainty and high financial risks. But for banks with state participation to effectively fulfill their stabilizing role, the state must clearly define the goals and priorities of its participation in the banking system. The absence of certain tasks that these banks should solve within the framework of the current state economic policy is the main problem of Russian banks with state participation.

Banks with foreign participation - these are banks, in the authorized capital of which a certain share belongs to non-residents - legal entities and individuals. In this group, banks controlled by foreign capital are especially singled out, i.e. those whose controlling stake is owned by non-residents. As of January 1, 2003, there were 129 credit institutions operating in Russia with foreign participation in the authorized capital, of which only 38 were controlled by foreign capital. At the same time, in 28 credit institutions, 100% of the authorized capital belonged to non-residents, and in 10 - the share of foreign capital exceeded 50%. The main activities of credit institutions controlled by foreign capital are:

Crediting of foreign trade and servicing of foreign trade turnover between the country in which the foreign bank is located and the Russian Federation;

Banking services for firms in the country in which the bank is located, 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.

The presence on the Russian banking market of banks controlled by foreign capital helps to attract foreign direct investment in the country's economy, and the expansion of their activities is an indirect confirmation of the improvement in the investment climate. Foreign banks use new financial technologies, modern banking products, the latest information systems, which is extremely important for improving the Russian banking system. They are distinguished by high business standards and qualified management. Concern about their own reputation keeps these banks from cooperating with the shadow sector. In this regard, the inflow of foreign capital with a solid reputation is considered by the Bank of Russia and the Government of the Russian Federation as a potentially important factor in the development of the country's banking sector, contributing to the formation of a competitive market for banking services.

By organizational forms A distinction is made between banks established as limited liability companies and joint-stock banks.

Bank in the form of a limited liability company (LLC) is a bank established by one or more persons, the authorized capital of which is divided according to the constituent documents into shares of certain sizes. Participants in such a bank are not liable for its obligations and bear the risk of losses associated with the activities of the bank within the value of their deposits. Members who have made contributions not in full shall be jointly and severally liable for the obligations of the bank within the value of the unpaid part of the contribution of each of the participants. A bank created in the form of an LLC may have a single founder, but it does not have the right to be another business entity consisting of one person. The number of participants in a bank in the form of an LLC must not exceed 50. If it exceeds the limit established by law, it must be transformed into an open joint stock company. If this requirement is not met, the bank is subject to liquidation in a judicial proceeding.

Currently, among operating banks, approximately 40% are banks in the form of LLC and 60% in the form of a joint-stock company.

joint stock bank - this is a bank, the authorized capital of which is divided into a certain number of shares, certifying the obligatory rights of its participants (shareholders) in relation to this bank.

A joint-stock bank may be an open or closed joint-stock company, which is reflected in its charter and corporate name.

Bank shareholders open joint stock company (OJSC) may alienate their shares without the consent of other shareholders. Such a bank may open subscription to the shares issued by him and to carry out their free sale. He can also carry out closed subscription, if it is not prohibited by its charter or the requirement of legal acts of the Russian Federation. The number of shareholders of such a bank is not limited.

A bank whose shares are distributed only among its founders or other previously defined circle of persons is recognized as closed joint-stock company (CJSC). Such a bank is not entitled to conduct an open subscription for shares issued by it or otherwise offer them to an unlimited circle of persons. The number of shareholders of a bank of a closed company should not exceed 50. If it exceeds this limit, then the bank must be transformed into an open company within one year. Otherwise, it is subject to liquidation in court.

New opportunities for diversifying the structure of the banking system are opened up by such an organizational and legal form of banks, permitted by Russian banking legislation, as companies with additional liability (ALC).

^ Branches and representative offices of banks. In the Russian Federation, all banks and other credit organizations have the right to open separate subdivisions - branches and representative offices, information about which must be contained in their charter. Branches and representative offices of a credit institution are not legal entities. They carry out their activities on the basis of the regulations approved by the credit institution that created them, and are considered open from the moment the Bank of Russia is notified.

Branch a credit institution is its separate subdivision located outside the location of the credit institution and carrying out on its behalf all or part of the banking operations provided for by the license of the Bank of Russia issued to the credit institution.

Representation A credit institution is its separate subdivision, located outside the location of the credit institution, representing its interests and protecting them. The representative office does not have the right to carry out banking operations. It is created to ensure the representative functions of the bank, transactions and other legal actions. It is not engaged in settlement, cash and credit services for customers and does not have a correspondent sub-account.

^ Licensing of banking operations. All credit institutions created in the Russian Federation as legal entities are subject to mandatory state registration. Based on the decision of the Bank of Russia, such registration of credit institutions is carried out by the Ministry of the Russian Federation for Taxes and Duties, which is the authorized federal executive body that registers all legal entities. In order to be eligible to engage in banking activities, banks must obtain banking licenses. The purpose of licensing is to keep financially unstable, high-risk organizations with questionable founders from entering the market. Currently, in the Russian Federation, a newly created bank can be issued three types of licenses for banking operations:

License to carry out banking operations with funds in rubles (without the right to attract funds from individuals to deposits);

License to conduct banking operations with funds in rubles and foreign currency (without the right to attract funds from individuals to deposits). With this license, the bank has the right to establish correspondent relations with an unlimited number of foreign banks;

License to attract deposits and placement of precious metals. Such a license may be issued to a bank simultaneously with a license of the second type.

To expand its activities, the bank can receive additional licenses. To do this, it must be financially stable over the past 6 months, meet the requirements set by the Bank of Russia for the amount of capital and reserves, have no debt to the federal budget, the budget of a constituent entity of the Russian Federation, the local budget and state off-budget funds, have an appropriate organizational structure, including internal control service, fulfill the qualification requirements of the Bank of Russia for employees of a credit institution, comply with technical requirements, including requirements for equipment necessary for banking operations.

^ 3. Monetary policy of the Russian Federation
Money-credit policy is an integral part of the economic policy of the state, the main strategic goals of which are to improve the welfare of the population and ensure maximum employment. Proceeding from this long-term strategy, the main guidelines of the government's macroeconomic policy are usually to ensure GDP growth and reduce inflation.

^ Objectives of monetary policy. Her ultimate goals are formulated in accordance with the objectives of macro-economic policy adopted for the current year. The main direction of monetary policy as an integral part of Russia's modern economic policy is the gradual reduction of inflation and maintaining it at a certain level. The ultimate goal of monetary policy in the next 10 years should be to reduce, and in the future, when low values ​​are reached, to maintain inflation at a level that provides conditions for sustainable economic growth.

^ Development of monetary policy . It is carried out directly by the Bank of Russia. This process is organized as follows.

The draft of the main directions of the unified state monetary policy for the coming year, developed by the Bank of Russia, is submitted for consideration to the National Banking Council, which gives an opinion on it. Further, the project specified according to the recommendations of the Banking Council is submitted to the President of the Russian Federation and the Government of the Russian Federation. No later than October 1, the Bank of Russia submits to the State Duma a draft of the main directions of the unified state monetary policy for the coming year and no later than December 1.

^ Tools and methods of monetary policy. The main tools and methods that can be used by the Bank of Russia in the development and implementation of monetary policy are determined by the Law "On the Central Bank of the Russian Federation (Bank of Russia)". These include:

Interest rates on operations of the Bank of Russia;

Required reserve ratios deposited with the Bank of Russia (reserve requirements);

Open market operations;

Refinancing of credit institutions;

Currency interventions;

Establishment of benchmarks for the growth of the money supply,

Direct quantitative restrictions;

Issuance of bonds in one's own name.

^ Interest policy The Central Bank of the Russian Federation is used to influence market interest rates. The Bank of Russia may establish one or more interest rates for various types of operations or pursue an interest rate policy without fixing them. The interest rates of the Central Bank of the Russian Federation are the minimum rates at which it carries out its operations. An important feature of the process of regulating interest rates in the economy at present is that the Central Bank of the Russian Federation does not have a direct impact on market interest rates. The impact on the level of interest rates is carried out mainly through the regulation of the money supply and the adoption of measures to improve the stability and efficiency of the banking system.

^ reserve requirement policy The Bank of Russia uses it as a mechanism for regulating the overall liquidity of the banking system and for controlling monetary aggregates by reducing the money multiplier. Reserve requirements are set to limit the credit facilities of credit institutions and maintain a certain level of money supply in circulation.

The Central Bank of the Russian Federation, by setting and changing the norms of obligatory reserves, influences the volume and structure of resources attracted by credit institutions, and, consequently, influences their credit policy.

^ Open market operations - these are transactions for the purchase and sale by the Bank of Russia of government bonds, treasury bills and other government securities, short-term transactions with securities with the completion of a reverse transaction later. The limit of operations on the open market is approved by the Board of Directors of the Bank of Russia. By buying securities from commercial banks, the Central Bank of the Russian Federation frees up their liquidity and expands opportunities for lending. When selling securities, on the contrary, there is a reduction in the free reserves of the banking system and its potential for lending to the economy decreases.

An integral part of the refinancing policy pursued by the Bank of Russia is its deposit transactions with credit institutions. The purpose of these operations is to withdraw excess liquidity from the banking system by attracting free cash from credit institutions to deposit accounts with the Bank of Russia.

^ Currency interventions - these are the operations of the Bank of Russia for the purchase and sale of foreign currency on the exchange and interbank markets to influence the ruble exchange rate and the total demand and supply of money. The implementation of interventions in the foreign exchange market can pursue various goals, including: keeping the exchange rate at a given level (in the range), smoothing out its sharp fluctuations, ensuring the required exchange rate dynamics, replenishing the currency reserves of the Bank of Russia

Based on the main directions of the unified state monetary policy, the Bank of Russia may establish benchmarks for the growth of one or more indicators of the money supply. At present, the Bank of Russia uses the monetary aggregate as an intermediate benchmark for monetary policy M2.

^ Direct quantitative restrictions may be applied by the Bank of Russia in exceptional cases for the purpose of conducting a unified state monetary policy after consultations with the Government of the Russian Federation. They are administrative methods, which include:

Establishing limits for credit institutions on granting loans and raising funds, determining the types of collateral for active operations of banks, restrictions on the implementation of certain banking operations by credit institutions;

Introduction of maximum interest rates on loans provided by banks, determination of the amount of commission and tariffs for the provision of certain types of banking services. This measure was practiced by the Central Bank of the Russian Federation in 1991, when a limiting rate was set for commercial banks on loans issued by them in the amount of 25% per annum;

Establishment of a fixed ratio of interest rates of commercial banks and official rates, direct limitation of the size of the credit margin (the difference between the price of acquiring resources and their subsequent resale in the form of a loan or the difference between the average interest rates on active and passive operations of banks).

^ Currency policy. Within its competence, defined by the laws "On the Central Bank of the Russian Federation (Bank of Russia)" and "On Currency Regulation and Currency Control", the Bank of Russia, together with the Government of the Russian Federation, determines the current policy of the state in the field of the exchange rate of the national currency - exchange rate policy. Monetary policy also involves the management of foreign exchange reserves The task of the Central Bank of the Russian Federation is to determine and maintain the value of the national currency exchange rate, which at the moment best meets the current goals of the state's economic policy.

To influence the dynamics of the exchange rate, the Bank of Russia uses a wide range of methods that can be conditionally divided into two groups.

1. 
   Market methods - carrying out operations for the purchase and sale of foreign currency on the exchange and interbank markets (currency interventions) to influence the ruble exchange rate.
2. 
   Administrative methods - the application of measures based on coercion of market participants to actions aimed at changing the supply and demand of foreign currency in the market.

Conclusion
Summing up the results of the course work, we can say for sure:

In the first chapter, the main theoretical issues related to banks, their functioning, role, banking system were considered, from which a conclusion can be drawn. That banks are one of the central links in the system of market structures. The development of their activities is a necessary condition for the real creation of a market mechanism.

What . Its practical role is determined by the fact that it manages the system of payments and settlements in the state; carries out most of its commercial transactions through deposits, investments and lending operations; along with other financial intermediaries, banks direct the savings of the population to firms and production structures.

The second chapter examined the features of the banking system in the Russian Federation, from which it becomes clear that the banking system of Russia is based on the principle of a two-tier structure at the top level of which is the Central Bank, and performs the functions of monetary regulation, banking supervision and management of the system of payments and settlements in country. At the lower level, commercial banks, which, acting in accordance with the monetary policy of the state, regulate the movement of cash flows, affecting the speed of their turnover, emission, total mass, including the amount of cash in circulation.

The modern banking system is a sphere of diverse services to its customers - from traditional deposit and loan and settlement and cash operations, which determine the basis of banking, to the latest forms of monetary and financial instruments used by banking structures.

Bibliography

Federal Law on the Central Bank of the Russian Federation (Bank of Russia) dated July 10, 2002 // "Consultant +"

Banks and banking / Ed. I.T. Balabanov. - St. Petersburg: Peter, 2001.

Banking. Textbook / ed. A.M. Tavasieva, N.D. Eriashvili, M.: UNITY-DANA, 2002.

Banking. Textbook for universities / Ed. G.N. Beloglazova, L.P. Kroviletskoy, St. Petersburg: Peter, 2004.

Banking. Textbook for universities / Ed. Semibratova O.I., M.: Publishing house "Academy", 2003.

Banking: Textbook, ed. E.P. Zharkovskaya. - 4th ed., Rev. and additional - M.: Omega-L, 2005.

Money. Credit. Banks.: Textbook for universities / Ed. E.F. Zhukov. - 2nd ed., revised. and additional - M.: UNITI-DANA, 2003. Database on exchange rates / Bank of Russia. - Internet resources. // www.cbr.ru

1. Banking system of the state, classifications and functions

Banking system of the state- a set of monetary, financial institutions through which the economy carries out monetary and credit circulation. Banking institutions attract the savings of economic entities by forming deposit accounts, through which it becomes possible to issue loans. The main body of any banking system is the Central Bank, in some countries its name is somewhat transformed, for example, in the USA it is called the Federal Reserve System.

Classification of banking systems can be represented as follows.

1. By number of levels All banking systems are divided into two-level, three-level and four-level. At the first level is the Central Bank of the country. Further, as a rule, commercial banks and their branches are located. Subsequent levels are dealt with in accordance with the national financial characteristics of the country. In some states, this is a network of specialized banks that are out of control of commercial banks. Another type of banking system - a single-level one - existed in the planned economy of the USSR, when there was one single bank that concentrated the functions of a monopolist in itself.

2. By level: macro-, microbanking systems. Micro-, as a rule, is represented by banking structures in individual subjects of the country: regions, regions, etc. The macro-banking system of the country as a whole, or the national banking system.

3. According to the degree of development banking structures are divided into developed and developing.

4. Depending on the degree of interaction with the external environment It is customary to distinguish between closed and integrated banking systems. The latter are, as it were, built into the system of international financial relations.

In order to determine the role and place of the Central Bank in the banking system, it is necessary to highlight its main functions. First of all, it is the possibility of issuing the national currency. In addition, the Central Bank is entrusted with an important function of control over other financial institutions, in accordance with which, by regulating the dynamics of the refinancing rate and reserve requirements, it pursues either stimulating or contracting monetary policy. The Central Bank, through its policy instruments (changes in the reserve ratio, refinancing rate, open market operations), has a qualitative effect on the country's monetary base, and the money supply. Reservation rate- this is part of the funds of commercial banks, which they are obliged to keep in the Central Bank in case of unforeseen circumstances. central bank- this is the lender of last resort to commercial banks, at the established discount rate (refinancing rate), he supplies them with the necessary amount of cash. Among other things, the Central Bank can act as a subject of the international money market.

Thus, the main goals of the activity of the Central Bank can be called the following: protecting and ensuring the stability of the national currency, its exchange rate against foreign currencies, exercising control over the development of the banking system as a whole, as well as ensuring the effective functioning of the settlement system and its improvement.

Commercial banks, as a rule, are located at the second level of the banking system. Their main goals can be called profitability and solvency. The first is carried out through the dynamics of interest rates on loans and deposits. The higher it is, the more profitable this operation is for the bank. At the same time, any bank must be solvent, that is, if necessary, return to the depositor his “deposit” with interest. In order to make this possible, banks keep part of the money as mandatory and excess (optional) reserves in the Central Bank of the country. As for the functions of commercial banks, there are only two of them: raising funds in deposits and issuing loans. In addition, CBs are able to create their own credit money, through which they also influence the value of the money supply.

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5. The modern banking system of Russia The modern banking system of Russia has a two-level structure. It includes the Bank of Russia, which is the top level of the banking system, and credit institutions, branches and representative offices.

From the book Political Economy of War. How America Became a World Leader author Galin Vasily Vasilievich

From the author's book

124. Japanese Banking System Japan has one of the youngest banking laws, which is modeled after the American one. The first banks of the modern type appeared after 1872 as private ones; "national banks". The Central Bank of Japan, was established in 1882 on

From the author's book

3.5 The Banking System - Breakthrough The current banking system is very weak and does not meet the objectives of modernization and economic growth, nor the requirements for a base on which stock markets can be built. Credit investments in the real sphere are not

1. Structure of the banking system

Practically in all countries with a market economy there is a two-tier banking system: the first level is the Central Bank, the second level is commercial banks.

Banks organize money circulation and credit relations between the links of the financial system.

Bank is a credit institution that has the exclusive right to exercise Bank operations: attracting funds from legal entities and individuals into deposits; placement of these funds on its own behalf and at its own expense; opening and maintaining bank accounts of individuals and legal entities.

2. Tasks and functions of the Central Bank

Functions: The Central Bank of Russia is endowed with issuing, supervisory, legislative functions.

Tasks of the Central Bank:

1) The Central Bank has a monopoly on the issue of national banknotes.

2) The Central Bank, in conjunction with the Government of the Russian Federation, develops and conducts

unified state monetary policy.

3) Establishes the rules for making settlements in the Russian Federation and the procedure for settlements with international organizations.

4) Serves the accounts of the budgets of all levels of the budget system of the Russian Federation.

5) Determines the procedure for accounting and reporting for banks.

6) Carries out currency regulation and currency control.

Money-credit policy- a set of measures that determine the change in the money supply and credit policy aimed at regulating the volume of loans, the level of interest rates and other indicators of the loan capital market. The goal is to regulate the economy by influencing the state of money circulation and credit. The Central Bank in modern conditions is pursuing a policy aimed at reducing inflation and maintaining it at a low level.

Lending by the Bank of Russia to credit institutions is called refinancing.

3. Functions of commercial banks

1) Accumulation and mobilization of funds

2) Loan intermediation

3) Creation of credit money

4) Settlements in the national economy

5) Organization, issue and placement of securities

6) Consulting services

The main goal of commercial banks is to make a profit. At the same time, they adhere to the principles: less risk, maintaining liquidity (the ability to pay off their obligations without delay).

4. Types of banking operations

1) Passive (accumulation of financial resources).

2) Active (placement of financial resources).

3) Commission (intermediary).

4) Advisory and other non-operational services.

Passive: acceptance of deposits and deposits from individuals and legal entities; opening and maintenance of settlement and other accounts of legal entities; obtaining loans from commercial banks or the Central Bank; issuance of bank securities. Contribution (deposit) This is cash deposited with the bank.

Active: Assets according to the degree of liquidity are divided into four groups.

1) Primary reserves - cash, cash balances, funds on a correspondent account with the Central Bank, checks and other payment documents in the process of collection, funds on correspondent accounts with other commercial banks. The assets of the first group do not generate income, but serve as the main source of liquidity.

2) Secondary reserves - bills, other short-term securities, demand loans, short-term loans to prime borrowers. The assets of the second group serve as a source of replenishment of primary reserves.

3) The portfolio of bank loans is the most profitable and risky group. The purpose is to make a profit for the bank. The golden rule: the terms of loans issued should not exceed the terms of attracting resources.

4) Portfolio of securities or bank investments. The assets of the fourth group are the second source of banking profit.

Commission transactions consist in the execution of customer orders: settlement and cash services for customers, intermediary (brokerage) operations with securities of enterprises, foreign currency, fiduciary (trust) operations - managing the client's assets by proxy for a certain period, emission and depositary services - participation in the issue and the initial placement of securities of enterprises and the organization of their subsequent placement.

Commission transactions contribute to the circulation of money in the country.

Advisory and other non-operating services:

1) Information service - consultations on economic, financial, legal issues,

2) Preparation of methodological materials and design estimates for customer orders,

3) Leasing of premises and equipment (safes).

5.Credit policy of commercial banks.

It is carried out in accordance with the principles of lending (repayment, payment, urgency) and manifests itself in the organization and procedure for lending. The credit policy includes: the purpose of the loan, lending methods, forms and procedures for monitoring the targeted and efficient use of loan funds and their timely return.

Lending methods:

1) Advance compensation is applied to state industrial, transport, construction, agricultural enterprises,

2) The turnover-based lending method provides for the issuance of loans to make a payment. Repayment of the loan is carried out upon completion of the full circulation of the borrower's funds.

3) Providing urgent loans.

4) Credit line. Loans are provided within the limits of the credit limit set for the borrower by the bank. The credit line can be opened in two ways: as a revolving and as a seasonal one.

5) Provision of one-time loans in accordance with the loan agreement.

6. Organization and procedure for lending.

Borrower to obtain a loan, submits to the bank a loan application and copies of constituent documents, accounting, statistical and financial statements, a business plan.

Bank considers the application, conducts a comprehensive verification of the reliability of the credited transaction, examines the client's credit history, checks the authority of officials, the availability and quality of security (collateral, bank guarantee, guarantee, insurance policy). Conducts interviews with borrowers. With a positive decision, the bank concludes a loan agreement with the borrower.

The procedure for providing funds to the borrower: legal entities only in non-cash form by crediting to the account; individuals - by bank transfer to the account or in cash through the bank's cash desk; funds in foreign currency - only in non-cash form.

The procedure for repayment of funds and payment of interest: by legal entities - by debiting funds from a bank account, by individuals - transfer from an account, transfer through credit organizations, contributions to the bank's cash desk, deduction from the amounts for wages of employees of the creditor bank. Repayment of funds in foreign currency - only by bank transfer.

7. Credit agreement.

Loan agreement- this is an agreement between the lender and the borrower, which determines the amount and terms of the loan, the rights and obligations, the responsibility of the parties. The procedure for settlements between the parties under the agreement, the deadline for using the loan, and the interest rate for the loan are determined. It is drawn up in four copies: 1st and 4th - to the creditor, 2nd to the borrower, 3rd to the bank at the place of opening the account.

8. Investment activity and policy of commercial banks.

investment banks specialize in the financing and lending of investments, and are also financial intermediaries. Banks invest in industry, construction, agriculture. Investments can be in fixed and working capital (real) and in securities (financial). The problem of attracting investments in the real sector of the Russian economy is one of the most urgent. At the same time, it is necessary to increase the presence of banks in the primary market for the placement of securities. Basically, banks are intermediaries, providing the organization of the investment process. The Bank acts as a professional adviser to the investor, as a broker helps the investor to acquire securities, carries out trust management of securities, places securities at the expense of the issuer.

9. Functions of Sberbank and its operations

1) operations on deposits of the population,

2) banking services for legal entities,

3) payment for services by debiting funds from the deposit,

4) money transfers in rubles and in foreign currency,

5) lending,

6) issue of international bank cards,

7) issue of savings and deposit certificates,

8) collection services (transportation),

9) games, coins (commemorative, investment),

10)consulting services.

10. Formation of a modern system of mortgage banks.

Mortgage banks- banks that specialize in providing mortgage loans - long-term loans secured by real estate.

On the primary in the mortgage market, banks issue mortgage loans. On the secondary In the market, special agencies buy loans from mortgage banks. Agencies assign them to secondary investors, form pools and sell pools and shares in them.

Introduction………………………………………………………….………..……....3

1.Economic foundations of the banking system of the Russian Federation………………....……….....4

1.1.History of emergence and role of the banking system………………...…….4

1.2. Essence and functions of the banking system of the Russian Federation………………………..……7

1.3. The structure of the banking system of the Russian Federation, its characteristics………………........ 9

2. Problems of development of the banking system of the Russian Federation…………………………………..13

3. Organization of banking supervision over the activities of credit institutions……………………………………..………………….…………….18

Conclusion………………………………………………………………………….21

List of used literature……………………………………...…....23

Introduction

Banks are a very ancient economic invention. It is believed that the first banks appeared in the Ancient East in the 8th century. BC e., when the level of well-being of people allowed them to save while maintaining an acceptable level of current consumption. Then this baton was taken over by Ancient Greece. The most revered temples began to accept the money of citizens for safekeeping during wars, since the warring parties considered it unacceptable to rob the sanctuaries.

The question of what a bank is is not as simple as it seems at first glance. In everyday life, banks are a storehouse of money. At the same time, the given or similar worldly interpretation of the bank not only does not reveal its essence, but also hides its true purpose in the national economy. Even more confusing is the very terminological meaning of the word bank (“banko” is a bench on which monetary and credit transactions were carried out), as well as such modern expressions as a data bank, a plant bank, a book bank, which are not related to the bank as such. have no relation.

The activities of banking institutions are so diverse that their real nature is really uncertain. In modern society, banks are engaged in a wide variety of types of operations. They not only organize money circulation and credit relations; through them, the financing of the national economy, insurance operations, the sale and purchase of securities, and in some cases mediation transactions and property management are carried out. Credit institutions act as consultants, participate in the discussion of national economic programs, keep statistics, and have their own auxiliary enterprises.

1.Economic foundations of the banking system of the Russian Federation

1.1.History of emergence and role of the banking system

Before one of the most important economic reforms - the abolition of serfdom - the country's banking system consisted mainly of noble banks. The sphere of their activity was a land loan, which was granted on the security of landowners' estates based on the number of serf "souls", as well as jewelry. The first noble bank was established in 1854 with offices in St. Petersburg and Moscow and was called the Bank for the Nobility. First of all, banking firms and money changers were engaged in lending to industry and trade, usury flourished widely. Since the 60s, joint-stock commercial banks began to be established, the development of which intensified in the 90s. An important role in the economic life of the country began to be played by mortgage banks, providing loans under land and real estate, and city banks, which are under the jurisdiction of city administrations. The banking system of Russia on the eve of the First World War included the issuing State Bank, joint-stock commercial banks, mortgage banks, city banks. The process of concentration and merging of banking resources continued. Up to 80% of the capital of joint-stock commercial banks, of which there were about 50, was concentrated in 18 banks. Of these, 5 largest banks stood out - Russian-Asian, St. Petersburg International Commercial, Azov-Don, Russian (for foreign trade) and Russian commercial and industrial. The equity capital and deposits of these banks exceeded 2 billion rubles, or 48% of the indicated funds of all joint-stock commercial banks. The top five banks had 418 branches throughout the country. Under the control of joint-stock commercial banks were many of the largest industrial and commercial firms. For example, the Russian-Asian Bank controlled such enterprises as the Putilov Plant, the St. Petersburg and Russian-Baltic Carriage Works, the St. Petersburg International Bank represented in 50 joint-stock companies. A feature of the banking policy of Russia was the active attraction of foreign capital, mainly French. In 1914, about half of the share capital of 18 commercial banks was owned by foreign partners.

The system of mortgage banks included two state-owned - peasant land and noble land, 10 joint-stock land banks, 36 provincial and city credit societies. Over 60% of the total amount of mortgage debt was accounted for by state-owned banks. There were 317 urban public banks. They specialized mainly in issuing loans for urban real estate.

One of the first acts of the October Revolution was the seizure of the State Bank of Russia, and then, at the end of December 1917, a decree of the All-Russian Central Executive Committee was issued on the nationalization of private joint-stock banks. In 1917-1919, in connection with the abolition of private ownership of land, mortgage banks were liquidated. Only credit cooperatives, which issue loans to peasant farms, have survived. Nationalized private banks, merged with the State Bank, formed the People's Bank of the RSFSR, which ceased operations in 1920, being transformed into the Central Budgetary and Accounting Department of the Narkomfin.

However, with the transition to a new economic policy, the preconditions for the development of credit relations and the creation of an essentially new banking system arose. At the end of 1921, the State Bank began to function, credit cooperation began to intensify, and cooperative banks were created. In rural areas, the lower level of the credit system was represented by credit and agricultural associations that carried out banking operations. Then, agricultural credit societies began to form on a share basis, which were local agricultural banks located in regional (provincial) centers.

Simultaneously with the revival of credit cooperation, at the beginning of 1922, cooperative banks were established to promote the development of consumer cooperation with credit.

The next stage in the formation of the credit system is the creation of branch special banks - the joint-stock company Electrocredit, the joint-stock Russian Commercial and Industrial Bank, the Central Communal Bank, with a network of local institutions and others. Territorial banks also began to operate, in particular, the Central Asian and Far Eastern banks.

Here it is important to highlight the following point. It became clear that the implementation of the new economic policy is impossible without the accumulation and wide use of the funds of entrepreneurs. That is why in 1922 two banks were established with the participation of private capital - the Russian Commercial Bank and the Yugo-Vostochny Bank. Moreover, what is quite remarkable, one of the founders of Roskombank were representatives of business circles in Sweden. It was also decided to organize private banking institutions in the form of mutual credit societies, whose activities involved the mobilization and involvement in the economic circulation of the funds of small producers and private traders.

The implementation of these measures made it possible to form by the end of 1925 a fairly developed credit system, consisting mainly of credit institutions created on a new basis. There were 121 joint-stock banks, 114 cooperative banks, 153 communal banks, 196 agricultural credit societies, 173 mutual credit societies and credit cooperation uniting 3800 divisions. At the same time, the network of institutions of the State Bank of the USSR consisted of 459 institutions, which accounted for 56% of all credit investments.

On this, the development of the initiative in the formation of the credit system was suspended. In 1927, the Central Executive Committee and the Council of People's Commissars of the USSR adopted a resolution "On the principles of building a credit system", which marked the beginning of the monopolization of banking. Further changes in the organizational structure of banks occurred in 1930 in connection with the credit reform. All short-term lending operations were concentrated in the State Bank, agricultural credit banks were reorganized, the functions of which were subsequently transferred to the State Bank, and four specialized banks for long-term investments were created. Reformation of banks also took place in subsequent years, until 1988, when a system of specialized banks that did not justify itself was created.

1.2. The essence and functions of the banking system of the Russian Federation

The activities of banking institutions are so diverse that their real nature is uncertain. In modern society, banks are engaged in a wide variety of types of operations. They not only organize money circulation and credit relations. Through them, financing of the national economy, insurance operations, purchase and sale of securities, intermediary transactions, property management and many other operations are carried out. Credit institutions carry out consultations, participate in the discussion of national economic programs, keep statistics, and have their subsidiary enterprises.

A bank is an autonomous, independent, commercial enterprise. This is the main thing in understanding its essence. Of course, a bank is not a plant, not a factory, but it, like any enterprise, has its own product. The product of the bank is primarily the formation of means of payment (money supply), as well as a variety of services in the form of loans, guarantees, guarantees, consultations, property management. The bank's activities are productive. In market conditions, banks are a key link that feeds the national economy with additional monetary resources. Modern banks not only trade in money, at the same time they are market analysts. By their location, banks are closest to the business, its needs, changing market conditions. Thus, the market inevitably puts forward the bank among the fundamental, key elements of economic regulation. To date, the Bank is defined as a financial enterprise that concentrates temporarily free funds (deposits), provides them for temporary use in the form of loans (loans, loans), mediates in mutual payments and settlements between enterprises, institutions or individuals, regulates money circulation in the country, including the issue (issue) of new money. Simply put, banks are organizations created to raise funds and place them on their own behalf on terms of repayment, payment and urgency.

The banking system is a combination of various types of national banks and credit institutions operating within the framework of a common monetary mechanism. Includes the Central Bank, a network of commercial banks and other credit and settlement centers. The Central Bank conducts the state issue and currency policy, regulates the economy and is the core of the reserve system. Commercial banks carry out various types of banking operations and services.

Thus, we can say that the main function of the banking system is mediation in the movement of funds from creditors to borrowers and from sellers to buyers. In creating a new market economy for Russia with various forms of ownership, the role of the banking system is great, with the help of it, the redistribution and mobilization of capital is carried out, cash settlements are regulated, commodity flows are mediated, etc. Banks are called upon to perform many special functions. They also include settlement and cash transactions, lending, investment, storage and management of cash and other funds, i.e. those services that a business person cannot do without today. Keynes compared the banking system to the circulatory system of the body, and capital - to the blood that feeds its various parts. He believed that the state, by regulating the movement of financial flows with the help of banks, can influence the national economy and provide support to those industries that lag behind the general development. Thus, we are approaching a deeper understanding of the role of the banking system, i.e. to the fact that its most important task is the creation and functioning of the capital market, as the main link in the national economy, which determines its development as a whole.

1.3. The structure of the banking system of the Russian Federation

In countries with developed market economies, the following structure of the banking system has developed:

1. Central (issuing) bank.

2. Commercial banks which include: universal banks, specialized banks, investment banks, savings banks, innovation banks, mortgage banks, consumer credit banks, industry banks, intra-industrial banks.

Non-bank financial institutions: investment companies, investment funds, insurance companies, pension funds, pawnshops, trust companies.

This structure is usually called a two-level structure, since the main levels are the Central Bank and the CB.

The central (issuing) bank in most countries belongs to the state. But even if the state does not formally own its capital (USA, Italy, Switzerland) or partially owns it (Belgium - 50%, Japan - 55%), the central bank performs the functions of a state body. The Central Bank has a monopoly right to issue banknotes into circulation (issue) - the main component of the cash supply. It keeps official gold and foreign exchange reserves, conducts state policy, regulating the monetary sphere and foreign exchange relations. The Central Bank participates in the management of public debt and provides cash and settlement services to the state budget.

According to its position in the credit system, the central bank plays the role of a “bank of banks”, i.e. it keeps the required reserves and free funds of commercial banks and other institutions, provides them with loans, acts as a “lender of last resort”, organizes a national system of offsetting monetary obligations either directly through their branches or through special clearing houses.

Central, national banks are subordinate to representative legislative rather than executive authorities (in Russia, the State Duma). Their interaction is determined by legislative acts, according to which central banks are autonomous, independent institutions. And the solution of only a few of the most important issues can be carried out on the basis of legislative decisions, which in the future are a guide to action for banks.

In Russia, the management system of the Central Bank (CB) includes more than 80 national banks and main departments of the Central Bank, which do not have autonomy. In a number of countries, central banks report directly to the executive branch - the government.

The second level of the monetary economy, as already noted, are commercial banks and other financial and credit institutions. They are engaged in the accumulation of free cash resources in the form of deposits (deposits), maintenance of current accounts and all types of settlements between the relevant economic entities that are their clients. Let us dwell on the most important principles and functions of commercial banks.

The first and fundamental principle of the activity of a commercial bank is to work within the limits of actually available resources. This means that a commercial bank must not only ensure a quantitative match between its resources and credit investments, but also seek to match the nature of bank assets with the specifics of the resources it has mobilized. First of all, this applies to the terms of both.

The second most important principle on which the activity is based is the economic independence of commercial banks, which also implies economic responsibility for the results of their activities. Economic independence implies the freedom to dispose of the bank's own funds and attracted resources, the free choice of customers and depositors, and the disposal of the bank's income. A commercial bank is liable for its obligations with all its assets and property. The commercial bank assumes all risk from its operations.

The third principle is the market nature of the relationship of a commercial bank with its customers. When providing loans, a commercial bank proceeds, first of all, from market criteria of risk profitability and liquidity.

The fourth principle of the operation of a commercial bank is to regulate its activities by indirect economic (rather than administrative) methods. The state determines only the "rules of the game" for commercial banks, but cannot give them orders. Commercial banks are the main link in the credit system. They perform almost all types of banking operations. The historically established functions of commercial banks are accepting deposits to current accounts, lending to industrial and commercial enterprises, and making settlements between them. Commercial banks are created on a share or joint-stock basis and may differ: by the method of formation of the authorized capital (with the participation of the state, foreign capital, etc.), by specialization, by territory of operation, types of operations performed, etc. The funds of commercial banks are divided into own (statutory fund, reserve fund and other funds formed from profits) and attracted (funds on the accounts of enterprises, their deposits and deposits, deposits of citizens, etc.).

In addition to banks, the movement of funds in the market is carried out by other financial and financial institutions: investment funds, insurance companies, brokerage, dealer firms, etc. But banks, as subjects of financial risk, have two essential features that distinguish them from all other subjects.

First, banks are characterized by a double exchange of debt obligations: they place their own debt obligations (deposits, deposit certificates, savings certificates, etc.), and the funds mobilized on this basis are placed in debt obligations and securities issued by others. This distinguishes banks from financial brokers and dealers operating in the financial market without issuing their own debt.

Secondly, banks are distinguished by the assumption of unconditional obligations with a fixed amount of debt to legal entities and individuals, for example, when placing customer funds on accounts and deposits, when issuing certificates of deposit, etc. Liabilities fixed in terms of the amount of debt carry the greatest risk for intermediaries (banks), since they must be paid in full, regardless of market conditions, while an investment company (fund) distributes all risks associated with changes in the value of its assets and liabilities among its shareholders.

2. Problems of development of the banking system of the Russian Federation

The key parameters of the development of the Russian banking system do not allow it to fully perform the macroeconomic functions inherent in the banking systems of developed market economies: to ensure intersectoral capital flow, to maintain a balance between money demand and supply, and to transform savings into investments. Distrust of the domestic banking system on the part of the international community prevents any significant attraction of funds in foreign markets.

The banking sector in the Russian Federation operates on market principles. As evidenced by the results of the assessment of the financial sector of the Russian Federation, conducted by the mission of the International Monetary Fund and the World Bank in 2002-2003, a number of components of the regulatory regulation of banking activities correspond or are as close as possible to internationally recognized approaches.

After the financial and economic crisis of 1998, the banking sector has been developing against the backdrop of a generally positive macroeconomic situation in the country, due, among other things, to favorable conditions for foreign trade. The production of goods and services, real incomes of the population are growing, and investment activity is increasing.

The dynamics of the main parameters characterizing the state of the banking sector in 2002-2004 testifies to the consolidation of the trend in the development of the banking sector. The assets and capital of credit institutions are growing rapidly, their resource base is expanding, especially by attracting funds from the public. The growth of confidence in banks on the part of creditors and depositors is one of the most important signs of the Russian banking sector during this period.

The activities of credit institutions are more focused on the needs of the real economy. There is a steady growth trend in loan investments, according to the reports of credit institutions, the quality of their loan portfolios remains generally satisfactory. There is a certain development of competition in the banking services market, especially for deposits of individuals. As a result, the share of the Savings Bank of the Russian Federation (Sberbank of Russia) in the funds of individuals attracted by the banking sector in deposits (deposits) tends to decrease.

The financial performance of credit institutions is improving.

At the same time, the development potential of the banking sector has not been exhausted. The Government of the Russian Federation and the Bank of Russia proceed from the fact that the banking sector can and should play a more significant role in the economy.

Factors hindering the development of banking activity: the development of the banking sector is constrained by a number of circumstances, both internal and external.

Internal obstacles include poor management systems, weak business planning, poor management in some banks, their focus on questionable services and unfair commercial practices, and the fictitious nature of a large part of the capital of individual banks.

External constraining factors include high lending risks, unresolved a number of key problems of pledge legislation, limited resource capabilities of banks, primarily a shortage of medium-term and long-term liabilities, and an insufficiently high level of confidence in banks on the part of the population.

In addition, the Russian economy as a whole and the banking sector in particular have a relatively low investment attractiveness, as evidenced by the dynamics of investment, and, in relation to the banking sector, by the declining share of foreign capital.

The administrative burden placed on banks in connection with the diversion of resources to perform functions that are unusual for them is still significant. The procedure for capital consolidation (mergers and takeovers of credit institutions) is unreasonably complicated. The issue of reporting by banks only in electronic form has not been resolved.

Along with the above factors, there are such methodological problems as the need for further development of the refinancing system, including by expanding the range of liquidity management tools.

Five groups of reasons are distinguished that impede the efficient and flexible allocation of resources accumulated by the banking sector in the domestic market.

1. Discrepancy between the structure of supply and demand in the credit market.

The reason for this discrepancy is the low confidence in the domestic banking sector on the part of economic agents, which determines the predominantly ultra-short-term nature of accounts and deposits placed with commercial banks. The lack of long-term resources, in turn, makes banks unable to make long-term investments. The share of credits with a term of more than 3 years in bank loans is 11%, and in the last two or three years there has been a downward trend (in 1999-2001 it decreased by 7 percentage points).

At the same time, the structure of demand for credit, under the influence of the growth in investment activity of enterprises, the increase in their provision with money and own funds, has changed in the opposite direction in recent years - the demand for short-term borrowing to replenish working capital has shrunk sharply, while for long-term resources to finance capital investments - increased. According to surveys by the Russian Economic Barometer (REB), the share of enterprises noting a lack of financial resources for capital investment increased from 71-73% in the pre-crisis period to 81-85% in 1999-2001.

2. The absence of mechanisms for redistributing funds from banks that concentrate excess resources to banks that experience a shortage to cover the demand for loans from borrowers. In 1999-2001 a situation has developed in which most of the financial savings were concentrated in some sectors of the economy - primarily in the export-oriented raw materials sector, and the unsatisfied demand for credit resources in others - primarily in the import-substituting manufacturing sector. This situation, broadcasting to the banking system, led to the stratification of banks into two categories: banks with excess resources - mainly large Moscow banks servicing key export-import flows - and banks that do not have sufficient resources to cover the demand from their clients for a loan - predominantly regional, servicing enterprises of the internally oriented sector. Deformation of the interbank market (reorientation to servicing transactions related to the export of capital), the lack of liquid collateral instruments for interbank loans and deposits, blocked the transfer of resources from the first group of banks to the second, and thus hindered the growth of total bank lending to the economy.

3. Structural inadequacy of the banking system: low level of concentration of resources, underdevelopment of branch networks.

In terms of resource concentration, Russia's banking system is one of the most dispersed in the world. Excluding Sberbank, the share of the 5 largest banks in the total assets of the banking system is 23%, while most developed economies are characterized by a level of 50-70%. This contradicts the highly concentrated structure of the real sector of the Russian economy, characterized by the dominance of large forms. The small size of banks does not allow them to mobilize the resources necessary to finance large transactions and projects, leads to an extremely low diversification of the client base and a high level of large credit risks. This, in turn, severely limits the possibilities for expanding bank lending. This is evidenced by a fairly clear relationship between the size of banks, the degree of diversification of their loan portfolio and the share of loans in assets. At present, one commercial bank (excluding Sberbank) has 1-2 branches, which is much lower than in developed countries (24-25 branches in France, 6-7 in the USA). In the context of a sharp discrepancy between the territorial distribution of sources of banking resources (63% of account and deposit balances are in Moscow, excluding Sberbank) and potential borrowers, such underdevelopment of branch networks severely limits the possibility of increasing bank lending.

4. The depressed state of the financial markets.

At present, the turnover of the securities market in dollar terms is ten times lower than the pre-crisis level. The disorganization of the securities market deprives banks of liquid instruments for financing domestic borrowers and blocks the possibility of transforming "short" bank resources into "long" corporate loans.

5. Lack of adequate information and legal support for the lending and financing process.

We are talking about the lack of information transparency of borrowers, the inefficiency of legal mechanisms that ensure debt collection, the provision of syndicated loans, the absence of credit histories, etc.

3. Organization of banking supervision over the activities of credit institutions

The Central Bank of Russia regulates the activities of credit institutions and supervises their activities.

Regulation of credit and banking institutions is a system of measures through which the state, through the Central Bank, ensures the stable and safe functioning of banks, prevents destabilizing processes in the banking sector.

Banking regulation refers to the development by the CBR of rules or instructions based on current legislation and defining the structure and methods of banking.

Banking supervision pursues the following main objectives:

Protection of bank depositors from possible losses;

Maintaining the stability of banks in the financial market by preventing systemic risks.

Banking supervision carried out by the Bank of Russia is divided into:

Prudential supervision carried out by the Department of Banking Supervision and the relevant divisions of the territorial departments of the Bank of Russia;

On-site inspections;

Control by the functional divisions of the Bank of Russia over the organization of accounting in banks, crediting settlements, operations with securities, currency, etc.

In the exercise of procedural supervision and control by the CBR, its tasks include:

Control over the licensing of banking activities;

Verification of reports submitted by banks; analysis of assets, liabilities, analysis of their financial position;

Development of regulations and monitoring of compliance with exposure to banks if necessary.

Economic standards for banks and credit institutions are defined in the Instruction of the Central Bank of the Russian Federation “On the procedure for regulating the activities of banks” No. 1.

The standards make it possible to assess the state of capital, sources of resources and their relationship with assets, the level of risks of the bank's activities, the amount of resources attracted from the population, the volume of investments and investment areas, etc. Control over compliance with the standards is carried out on the basis of the monthly balance sheets of the credit institution.

An analysis of the financial condition of the bank allows us to draw a conclusion about the activities of the bank, about the management system of its management, about its future activities. Based on the results of the analysis, recommendations are given and appropriate measures are taken.

Inspection of commercial banks is one of the activities of the Central Bank of the Russian Federation is considered as the most important component of the regulation and control of banking activities.

Inspection of banks is carried out by the Department of Inspection of Credit Institutions (DNKO).

On-site audits allow the CBR to carry out an independent review of individual operations of the bank and its financial position as a whole. An audit of the bank's financial condition involves checking all aspects of the bank's activities, however, a selective approach is also used. The main attention is paid to the analysis of banking assets, primarily loans and securities.

If, as a result of supervisory activities, the Bank of Russia has revealed a violation by a commercial bank of banking legislation or certain standards, it has the right to:

1) collect a fine from the credit institution;

2) submit claims to the credit institution, namely:

a) implementation of measures for financial recovery;

b) replacement of leaders;

c) reorganization of a credit institution;

3) a change in the mandatory ratios for a credit institution (for a period of up to 6 months);

4) introduction of a ban on certain banking operations for up to 1 year;

5) appointment of a temporary administration;

6) revocation of a license to conduct banking operations.

Conclusion

Summing up, we can conclude that the role of the banking system in the economy of any country is extremely large. A strict "separation of powers", that is, the definition of clear boundaries of authority and the division of spheres of influence between the Central Bank and commercial banks can significantly increase the efficiency of the banking system, which will help the development of the country's economy.

Russian commercial banks, having gone through a period of formation, turned into powerful financial structures and began to play an important role in the complex processes of transforming society and the economy. During these years, the capitals of banks have noticeably grown, a serious material base has been created, international technologies and standards have been introduced, and qualified specialists have been trained. Significant capital, active participation in the privatization of the most promising enterprises and sectors of the economy, a variety of commercial and investment activities, close interaction with various government structures - this is not a complete list of factors that determine the serious impact of relatively young Russian banks on economic life. country. Of course, there were certain shortcomings in the work of banks: in management, in credit policy, in work with personnel, and so on. However, these were mainly the costs of rapid growth, and the banking system was able and willing to eliminate them over time, focusing on international standards and rules. However, the August 1998 financial crisis dealt a severe devastating blow to the Russian banking system.

To improve the Russian banking system, the following problems need to be addressed:

restructuring the entire banking system of the country in order to increase banking capital, improve the quality base of customer service;

recapitalization of banks and a fundamental change in relations with the sphere of material production, which will create a solid economic environment for the development of banking business on a healthy basis;

increased attention of banks to limiting market risks;

restoring confidence in the banking system of all segments of the Russian population.

The implementation of these and other measures will make it possible to restore the activity of the banking system and create conditions for intensifying its work with the real sector of the economy, increase the responsibility of bank managers and owners for the results of their bank management activities.

Banks are an integral element of the modern economic system. The essence of banking is to extract income from the disposal of temporarily free cash. Banks are the basis of the economy, a kind of circulatory system of the economic society. Modern society cannot exist without them, since it is banks, being the center through which payments are made, that form the normal functioning of enterprises, making payments and settlements.

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