Introduction ................................................... .................................................. .... 3.

Chapter 1. Concept and historical development of the credit system Russian Federation.................................................................................................... 4

1.1. The concept of the credit system ............................................................. ................. four

1.2. Historical development Russian credit system ........................... 5

Chapter 2. Modern Credit System of the Russian Federation .......................................... 16

2.1. Central Bank of the Russian Federation (Bank of Russia) ........................................... ..... sixteen

2.2. Banking system of the Russian Federation ............................................................. ....................... eighteen

Commercial banks ................................................ ..... eighteen

Savings Bank of Russia ........................................ 21

Mortgage banks........................................................... 24

2.3 Parabankovskaya System of the Russian Federation .............................................. ................. 26.

Credit unions ................................................ .......... 26.

Investment funds .................................................. 29.

Non-state pension funds ....................... 32

Chapter 3. Prospects for the development of the credit system of Russia ...................

Conclusion ............................................................... ............................................... 40.

Literature:................................................ ............................................... 41.

For 10 years of fundamental reform of the socio-economic system, a three-level market type credit system was created in our country.

At the same time, the process of becoming a credit system revealed certain disadvantages. They expressed violations in all units: small institutions continue to form and exist (banks, insurance companies, investment funds), which due to a weak financial base cannot cope with customer needs; Commercial banks and other institutions mainly carry out short-term credit transactions, insufficient investing in industry and other industries.

Many newly created credit and financial institutions, insurance companies and investment funds are engaged in unusual activities: attract the contributions of the population, performing the functions of commercial and savings banks. A number of investment funds, financial companies and banks have built their activities not on a genuine commercial basis, but according to the principle of the pyramid, which caused a wave of bankruptcies in 1993-1994. Moreover, high rates The short-term loans lead to unreasonable growth of profits, which are subsequently converted into foreign currency, which depreciates the ruble and leads to increased inflation. Therefore, many parties to the activities of the Banking System of the Russian Federation need further improvement.

This work is devoted to clarifying and consideration of the problems of the development of the credit system.

In Russian and foreign literature, there is no consequential opinion regarding the concept of "credit system":

Credit system - This is a combination of various credit and financial institutions operating in the market of loan capital and carrying out accumulation and mobilization of money capital (E. F. Zhukov).

Credit system- This is a totality of banks and other credit organizationscarrying out credit relations (P. I. Vakhrin).

Credit system- 1) a set of credit relations, forms and lending methods (functional form); 2) A combination of credit and financial institutions accumulating free cash and providing them in a loan (institutional form) (V. I. Kolesnikov).

Credit system- (in a broad sense) a set of credit relations, forms and methods of loan existing within a particular socio-economic formation; (In a narrow sense), a collection of banks and other credit and financial institutions carrying out the mobilization of free cash and income and the provision of them in a loan (L. M. Maximov).

The creation of a modern credit system of the Russian Federation was preceded by a long historical period, which was determined by socio economic conditions The development of our country.

The history of the credit system has passed several stages of formation. Until 1917, our credit system developed on capitalist laws, which reflected the relevant socio-economic formation. According to the structure, functions and operations, it approached the model of the credit system of leading capitalist countries of that time. The Russian Empire existed a three-story credit system consisting of the following links.

Structure of the credit system of the Russian Empire until 1917

I. State Bank;

II. The banking sector submitted mainly by commercial and savings banks

III. Specialized Credit Institutions (Insurance Companies, Credit Associations, etc.)

In contrast to Western countries in Russia, two tiers were developed mainly: the state bank and the private banking sector. The third tier has been developed relatively weakly, which was due to the low level of development of capital markets and valuable papers. At that time, in Russia, there were practically no institutions specializing in securities operations, and their market was represented by three stock exchanges. Therefore, the accumulation and mobilization functions in the capital market were mainly made by commercial banks.

In the first months after the 1917 revolution, the nationalization of all credit institutions (banks and insurance companies) was held, the national bank was created on the basis of Gosbank. The civil war that began in early 1918, essentially eliminated the credit system, since in the absence of commodity-money relations a loan lost its meaning. This confirms the fact of the merger of the People's Bank with Narkomfin (Ministry of Finance). The only source of income in the country was the issue of so-called monetary signs, which contributed to the naturalization of economic relations and limited the scope of commodity-money relations. In the early 20s, a new economic policy led to the restoration of the credit system, but in a fairly truncated form. Gosbank was created, joint-stock and cooperative commercial banks began to function. By 1925, a credit system was restored, the structure of which looked as follows.

Structure of the USSR credit system in 1925.

I. State Bank;

II. Banking sector:

· Joint-stock banks (Prombank, Electric Bank, Vneshtorgbank, Southeast Bank, Far Eastern Bank, Central Asian Bank);

· Cooperative banks (Gosstbank, Ukrainian);

· Communal banks (ceccinet and local utility banks);

· Central Agricultural Bank, Republican Agricants;

III. Specialized and credit and financial institutions:

· Societies of agricultural loan;

· Mutual loan society;

· Savings cash registers;

· Credit cooperation.

The structure of the credit system was represented by three tiers and expressed new socio-economic relations that have developed in the country by the beginning of the 30s. The peculiarity of the new credit system was that most of its links were state ownership, then the cooperative and most insignificant - capitalist (mainly with the societies of mutual loan). At the same time, the credit system was mainly represented by sectoral and specialized banks and lending companies.

In the new structure of the credit system there were no insurance companies and institutions engaged in operations with securities. This was due to the creation of a state insurance company and its removal from the credit system, as well as a very limited market for securities in the form of turnover of shares between various state-owned shareholders. Thus, accumulation and mobilization of cash resources was practically carried out by banks within state ownership.

In subsequent years, the credit system has undergone further changes under the influence of the credit reform of the 1930s, when all types of ownership were eliminated, except for the state. The credit system was turned into a single-tier, or one-piece system, expressing the socio-economic needs of the time associated with the implementation of plans of industrialization and collectivization. The credit system began to function as part of a command and administrative management system of the economy and was represented only by three banks, savings offices and two insurance organizations.

Structure of the USSR credit system

· National Bank;

· Stroybank;

· Bank for foreign trade;

· System of savings banks;

· Newssts and Ingosstrakh.

As a result of such reorganization, the State Bank, in addition to issuing and settlement and cash and cash activities, assumed the provision of short-term loans for industry, transport, communications and other branches of the economy, as well as long-term loans to agriculture.

The second bank of the country - Stroybank focused its activities on the provision of long-term loans and financing investments in various industries, crumbling agriculture.

Bank for foreign trade was engaged in lending to foreign trade, international calculations, as well as operations with foreign currency, gold and precious metals.

The savings checkout system served wide sections of the population by attracting cash savings, pay for services and implementing advantageous government loans.

Gosstrook monopoly insurance operations Legal and individuals within the country, Ingosstrakh carried out foreign insurance operations (insurance of foreigners, Soviet estates abroad, export-import cargoes, vehicles).

0

COURSE WORK

Modern loan and credit system

annotation

In this course, the theoretical aspects of the credit system and the features of the loan are considered.

The structure of this course work is as follows.

The first section reflects the theoretical foundations and features of the loan in the banking services market, the structure of the credit system and the role of its subjects.

In the second section, theoretical and practical aspects are considered based on the features of the perfect Russian practice.

The third section formulated the problems of the credit system at the present stage and the ways to solve them.

The work is made in a printing method on 43 pages using 39 sources, contains 7 applications.

Introduction four

1 Theoretical foundations of the functioning of the credit system .. 6

1.1 Credit: concept, types and functions. Credit system. 6.

1.2 The structure of the credit system and the role of its subjects. 10

2 Analysis of the development of credit systems on the example of Russia and foreign countries 11

2.1 Credit system of Russia and its characteristics. eleven

2.1.1 The role of the Bank of Russia in the country's credit system .. 12

2.1.2 Banking and non-bank credit organizations, their functions and role in the country's credit system .. 15

2.1.3 Specialized credit and financial institutions, their functions and role in the country's credit system .. 17

2.2 Comparative analysis structures and functions of credit systems of foreign countries and Russia. twenty

3 problems and improvement of the credit system of the Russian Federation. 26.

3.1 Problems of the modern credit system of the Russian Federation. 26.

3.2 Ways to improve the modern credit system of the Russian Federation. 28.

Conclusion. thirty

List of sources used. 32.

Appendix a .. 35

Introduction

Relevance. The credit system is a combination of credit relations existing in the country, forms and methods of lending, banks or other credit institutions that organize and carry out such relations. It functions through a credit mechanism, which is a relationship system: between credit institutions and various sectors of the cash capital and investment economy; Between the credit institutions themselves on the redistribution of money capital within the framework of the capital market. By mobilizing cash capital and concentrations of investments in key sectors of the economy, a credit system contributes to the growth of production, scientific and technical progress, to ensure balance economic Development.

In a market economy, there is a situation from time to time when some subjects arise temporarily free money, while others have a temporary need for additional funds. The credit system allows you to mutually benefit this contradiction. Therefore, this topic is relevant in modern worldSince many take loans to a wide variety of needs.

The object of research is Russian and foreign credit systems.

The subject of the study is the structure and functions of Russian and foreign credit systems.

The goal of the course work is to carry out a comparative analysis of Russian and foreign credit systems.

To achieve this goal, the following tasks are set:

1. To define a credit system, its essence and functions.
2. Submit the structure of the credit system and show the roles of its subjects.
3. Allocate the structure of the credit system of Russia and give it a characteristic.
4. Show the role of the Bank of Russia in the country's credit system.
5. To define, explore functions and role in the credit system of the Russian Federation of banking and non-bank credit institutions.
6. Specialized Credit Financial Institutions of Russia.
7. Conduct a comparative analysis of the structure and functions of credit systems of foreign countries and Russia.
8. Denote modern problems credit system of the Russian Federation.
9. Identify ways to improve the modern credit system of the Russian Federation.

The methodological and theoretical basis of the study was the works of domestic and foreign scientists on the problems of the formation and development of the country's credit system, the main of which were created by such scientists as Lavrushshin O.I., Rogova O.L., Fetisov V.D., Biryukova E.A. , Chinenkov A.V. et al. In addition, the study is based on the analysis of legislative acts of the Russian Federation governing the functioning of the credit system of the Russian Federation, as well as analytical and statistical data.

During the work, the following methods were used: comprehensive analysis, concretization, generalization, comparative comparison, literature analysis, regulatory documents, documentation.

The practical significance of the work is that its main provisions and conclusions can be used to further study the issues of functioning of credit systems.

The structure of the work is determined by the logic of the study of the theme and aims to the consistent presentation of the topic of the study. The work consists of three sections.

The first section discusses the theoretical foundations of the functioning of the credit system: the concept, essence, function, structure of the credit system and the role of its subjects.

In the second section presented comparative characteristics Russian and foreign credit systems.

The third section examines the prospects for the development of the credit system in Russia and increasing its effectiveness.

Work includes 7 applications.

The total work of 43 pages of typewritten text.

1 Theoretical foundations of the functioning of the credit system

1.1 Credit: concept, types and functions. Credit system

In a market economy, the immutable law is that money should be in constant turnover. Temporarily free cash must enter the market of loan capital, accumulating in credit and financial institutions, and then effectively start in the case, to be placed in those sectors of the economy, where there is a need for additional investment.

Money, like any other product, sold and bought. The market for the sale and sale of money received a specific name - a loan. Credit - economic relations between various partners arising from the transfer of property or money to another person on the terms of urgency, repayment, payability and security.

Urgency, repayment, payability, security are the basic principles of lending. The principle of urgency is that the loan must be returned in strictly defined time. Compliance with this principle is an important condition for the functioning of banks and the credit system itself. Return means that the loan must be returned. The principle of payability means that money taken on credit, you need to pay percentage. Parisability makes the borrower effectively use borrowed funds. The principle of provision of loans means that the loan must be provided by property, obligations of third parties. Lending to enterprises, organizations and the population is carried out with strict observance of these basic principles. The principles of accounting also include the principle of differentiation during credit relations. Differentiated approach to lending means that banks (credit institutions) are not equally suitable for different customers and solving the issue of lending. Before granting a loan carefully studies the financial state of the borrower in order to make sure of its ability to return the loan on time.

The role of a loan and credit relations is best expressed by the credit functions: redistributive, emission, control, regulating. The redistribution function lies in the fact that loan capital redistributes funds from firms and populations that are temporarily free to business entities that need additional money. The funds provided in the loan work and bring their owners income in the form of a percentage. The borrower uses a loan for profit, part of which is sent to the service of debt. IN developed countriesah, the share of credit resources in the sources of financing the activities of enterprises is 30-50%. The redistribution function provides the ability to mobilize capital to implement large projects inaccessible to limited resources of individual firms. The emission function of the loan is expressed in that banks, providing loan to enterprises, create so-called credit money. Banks act in this case as intermediaries. There is an increase in money supply due to an increase in non-cash money. The ability of banks to increase the monetary proposal in the provision of loans is taken into account when conducting a state of monetary credit Policy. The content of the control function is to control banks issued a loan for the economic activities of borrowers. Before granting a loan, the bank carefully studies the creditworthiness of the borrower's ability, meets the results of audit checks. By providing a loan, the Bank with its methods controls the financial condition of the borrower, seeking to ensure a timely return of the loan and interest on it. The loan serves as a tool for regulating the economy. The state participates in the process of moving capital, regulating the access of borrowers to the loan capital market, facilitating or making it difficult to obtain loans. Credit regulation of the economy is a set of activities carried out by the state to change the volume and dynamics of the loan in order to influence the economic processes.

In the process of historical development, a loan has acquired diverse forms. In modern conditions, the main forms of the loan are: commercial, banking, consumer, mortgage, state and international. A commercial loan is provided by enterprises, associations and other economic entities to each other in the form of selling goods with a delay of payment. A commercial loan is usually short-term - provided for a period of no more than a year. A commercial loan tool is a bill - a type of debt obligations. The enterprise supplier provides a deferment of payment for his product, and the buyer's enterprise conveys its bill as a debt testimony and a percentage of payment. The enterprise supplier can use this bill for payments. A commercial loan is interconnected with a bank loan. With a commercial loan, bills of exchange can be carried out and the provision of loans secured by bills. When taking into account bills of exchange, the Bank pays the holder of the bill of exchange amount specified on the bill, minus interest on the current accounting rate. In the event of a loan, the loan is secured by the loan of the loan, provided under commodity and material values \u200b\u200bprovided by the Week. A commercial loan contributes to the redistribution of capital, expands and facilitates the sale of goods, accelerates the turnover of capital. The disadvantages of a commercial loan include its limitation in form, time, volume and subjects.

Bank loan is a loan provided in cash by credit and financial institutions (banks, funds, associations) by any economic entities (private enterprises, organizations, the population and the state) in the form of cash loans. Thanks to its versatility, bank loan is the main form of a loan. Depending on the timing of use, bank loans are divided into short-term and long-term. Short-term loans are concluded for financing current costs for the period up to 12 months. Long-term loans are loans for the creation, reconstruction and modernization of fixed assets. The period of long-term lending is linked to the payback period of investments. Bank loan is provided after the conclusion loan agreement. The loan agreement provides for the appointment of a loan, its size, interest rate, loan repayment time and interest, loan form, mutual responsibility of the parties, and so on.

An important type of loan in modern conditions is a consumer loan, provided for up to 3 years when buying consumer goods for long-term use. A variety of consumer loans are long-term (for a very long time) loan to individuals for the acquisition or construction of housing. In this case, the population is as a borrower, and the lender is usually banks. When receiving a consumer loan, there may be intermediaries, for example, trading enterprises selling goods on credit. Basic forms of consumer loan: sale of goods by installments (consumer loan in commodity form); provision by banks with cash loans to the population to acquire long-term goods; Providing cash loans for housing construction. IN last years He gets a big development in Russia. On the one hand, thanks to him, the population more buys long-term goods. On the other hand, this type of loan is a very profitable operation of commercial banks.

Mortgage loan is issued for the purchase of housing, land, or other real estate, as well as secured by real estate. Mortgage loans are provided for a long time - 10-30 years. State loan is, as a rule, borrowing the state or local authorities in business and the population. State loan tools are government securities. Selling securities, the state receives additional money resources at its disposal, which are used to finance the deficit of the state budget and repay public debt. In some cases, the state may act as a lender (when providing loans to state banks). International credit includes credit relations between the state and international financial organizations, as well as between national firms and foreign banks and other financial institutions.

A combination of credit relations, forms and methods of lending is a credit system of society. Modern credit system is a multi-level mechanism for the accumulation and redistribution of financial assets. It consists of the following main links:

1. Central Bank, state and semi-state banks.
2. Banking sector: commercial, savings, mortgage, investment banks, specialized trading banks.
3. Specialized non-bank credit and financial institutions: insurance companies, pension funds, loan-saving associations, credit unions.

The above three-tiered scheme of the structure of the credit system is typical of most countries with a market economy.
1.2 The structure of the credit system and the role of its subjects

The structure of the credit system consists of four main parts of the central bank of the country, the banking sector, the insurance sector and the specialized non-bank sector (Appendix 1).

The central bank is the main part of the structure of the credit system. This organization is an intermediary between public administration and banks. The main objectives of the Central Bank are: Emissions of the AUND, conducting a monetary policy of the state, the management of government reserves, as well as the implementation of credit and monetary policy.

The banking sector is also one of the most important parts of the structure of the credit system. Currently, the banking sector is divided into savings banks, commercial banks, investment banks, mortgage, as well as specialized banks. The main task of banks is the issuance of loans to private and legally, attracting funds from individuals to increase turnover, as well as accounting and the provision of credit and cash maintenance services to legal entities.

The insurance sector in the modern structure of the credit system also plays an important role. This sector employs not only insurance organizations that provide various types of mandatory and voluntary insurance services, but also pension funds.

Specialized organizations representing the Embankavan Sector include various investment and financial companies, charitable funds, trust companies, as well as loan-savings cash regulations (Appendix 2).

This structure of the modern credit system is characteristic of most countries with a developed economy, however there are national features of the development of the structure of the modern credit system.

Thus, the credit system is an integral part The economy of any country, since the form and dynamics of the state development depends on its functioning, and primarily in economic terms.

2 Analysis of the development of credit systems on the example of Russia and foreign countries

2.1 Credit System of Russia and its characteristics

The Russian credit system includes a banking system and specialized credit and financial institutions. The banking system is a two-level. At the first level, it includes the Central Bank of the Russian Federation, and at the second level, credit organizations that include bank credit organizations, non-bank credit organizations.

The Central Bank of the Russian Federation under the law has the status of a legal entity. The key element of the legal status of the Bank of Russia is the principle of independence, which is primarily manifested in the fact that the Bank of Russia acts as a special public-legal institution, which has the exceptional right of monetary emission and the organization of money circulation

He is not a state authority, at the same time its powers in their legal Nature Refines the functions of state power, since their implementation involves the use of state coercion measures. The Central Bank of the Russian Federation is a unified centralized system with a vertical control structure. It includes a central office, territorial institutions (main departments and national banks), settlement and cash centers (RCC, GRCC), computational centers, field agencies, educational institutions and other organizations that are necessary for the activities of the Bank of Russia (Appendix 3).

Like the central banks of other countries, the Bank of Russia primarily carries out the emission of banknotes, banking supervision and monetary regulation of the economy. The fulfillment of its basic functions by the central bank implies the need to control and oversight over the activities of credit institutions. The Bank of Russia combines monetary policy with supervision of the work of credit institutions, being practically the only supervisory body in the country. The functions of the Central Bank confirm its status of the Institute in the very center of the country's banking system. The successful performance of functions by the Bank of Russia is a condition for the effective development of the market economy of the Russian Federation.

In 2010-2012, the Bank of Russia conducted active activities in the field of banking regulation and oversight, ensuring stability financial system, stability and development of the national payment system, currency regulation and control, organization of cash circulation, improvement accounting and reporting, international cooperation and cooperation, etc.

Credit organizations. The concept of "credit organization" is enshrined by the legislator in the Federal Law "On Banks and Banking Activities", where under the credit institution is understood - a legal entity that is for the extraction of profits as the main goal of its activities on the basis of a special permit (license) of the Central Bank of the Russian Federation (Bank of Russia ) It has the right to carry out banking operations. Three types of credit institutions stand out:

1. Bank credit organizations.

The Bank recognizes a credit institution that has the exceptional right to exercise the following banking operations in the aggregate: attracting funds to the deposits of individuals and legal entities, posting these funds from its own behalf and at its own expense on the terms of repayment, pay, urgency, opening and maintenance of bank accounts of physical and legal entities.

1. Non-bank credit organizations.

The non-bank credit organization is a credit institution that has the right to carry out separate banking transactions provided for by this Federal Law. Permissible combinations of banking operations for non-bank credit institutions are established by the Bank of Russia.

1. Specialized credit and financial institutions.

These are specialized credit and financial institutions that are engaged in lending to certain areas and industries. In their activities, it is possible to identify or two basic operations, they dominate relatively narrow sectors of the loan capital market and have a specific clientele.

2.1.1 The role of the Bank of Russia in the country's credit system

The main link of the banking system of any state is the central bank of the country. Central Bank of the Russian Federation - chief Bank countries. Features and powers stipulated by the Constitution of the Russian Federation and the Federal Law "On Central Bank The Russian Federation ", the Bank of Russia carries out independently of the federal state authorities, the state authorities of the constituent entities of the Russian Federation and local governments.

The Bank of Russia has a seal with the image of the state coat of arms of the Russian Federation and with its name. The authorized capital and other property of the Bank of Russia are federal property. The state is not responsible for the obligations of the Bank of Russia, and the Bank of Russia - for the obligations of the state, if they have not assumed such obligations or unless otherwise provided by federal laws.

The objectives of the Bank of Russia are:

• protection and provision of ruble resistance;
• development and strengthening of the banking system of the Russian Federation;
• ensuring the effective and uninterrupted functioning of the payment system.

Profit profit is not the purpose of the Bank of Russia.

The Central Bank law contains a detailed list of areas of the Bank of Russia (Appendix 4). The difference between the objectives of activity and functions is that the objectives show the directions of development of processes, and functions are a set of certain powers and actions aimed at achieving the goals. Functions can be classified by their economic content (enlarged functions):

Conducting a unified state monetary policy is one of the most important functions of the Central Bank, which in collaboration with the Government of the Russian Federation develops and ensures the implementation of the main directions of the Unified State Monetary Policy. She is devoted to the VII head of the Federal Law "On the Central Bank of the Russian Federation (Bank of Russia)". The main instruments of the Bank of Russia monetary policy are: the establishment of interest rates on the operations of the Bank of Russia; standards of mandatory reserves deposited in the Bank of Russia (Reserve Requirements); operations on the open market; refinancing of credit institutions; currency interventions; establishment of money growth orientations; direct quantitative restrictions on refinancing and banking operations; Emissions of bonds on their own behalf.

Monopoly exercise of cash issuance, the organization of their appeal in the territory of the Russian Federation is one of the oldest functions of the Central Bank. He produces and removes cash from circulation, provides conditions for the production, storage, replacement of damaged coins and banknotes and their destruction, determines the procedure for maintaining cash transactions.

The Bank of Russia in accordance with the legislation organizes the payment system, establishes the rules, forms and standards for the implementation of settlements on the territory of the Russian Federation, supervises and monitoring in the national payment system, as well as its participant.

The Central Bank is the organizer of the refinancing system for credit institutions, the lender of the last instance. The Bank of Russia exercises lending in the following forms: Lombard loan; Intraday loan (for operating day) - a loan type to complete the calculations; Credit "Overnight" (on 1 working day); loans provided by the deposit of bills and the rights of claims on loan agreements to the organizations of the scope of material production and (or) by guarantees of banks (for up to 6 months); Loans secured gold. In the context of the financial and economic crisis, refinancing practice is usually expanding. For example, in 1998-1999. The Bank of Russia issued stabilization loans, and in 2008-2009. unsecured loans. Their term was extended to 1 year.

The implementation of the function of banking regulation and banking supervision includes decision-making on state registration and licensing banking operations; Documentary supervision - evaluation and identification of problems in the early stage of problems in the activities of credit institutions and take measures to overcome the identified negative phenomena and trends; conducting inspection checks of the activities of credit institutions (their branches); prevention of insolvency (bankruptcy) of credit institutions and control over their liquidation; Control over issuing credit organizations of securities.

In accordance with Federal Law, the Bank of Russia is the main body of currency regulation and control in the Russian Federation. This direction of activity of the Central Bank is usually strengthened during the period overcoming the consequences of the financial and economic crisis.

The fulfillment of the function of the financial agent of the Government, namely through the lending of the state (only in the case of the adoption of the relevant budget law) and servicing public domestic debt and through the maintenance of budget accounts of all levels and extrabudgetary funds.

The implementation of the functions of macroeconomic analysis and forecasting is carried out by: compiling, forecasting and analyzing the balance of payments of Russia; analysis and prediction of the state of the economy of the Russian Federation as a whole and by regions, primarily monetary, and currency and price relations; analysis and forecasting of the development of the banking system; Monitoring the most important enterprises of the real sector of the economy, etc. The value of this function increases in the context of stabilizing the economic and political situation in the country.

To achieve the goals set before the Bank of Russia, he has the right to carry out banking operations and transactions with Russian and foreign credit institutions and the Government of the Russian Federation. The Central Bank's law determines the list of operations of the Bank of Russia (Appendix 6).

A comparative analysis of banking operations and transactions authorized by the legislation of the Central Bank of the Russian Federation and credit organizations allows the following conclusions. For the Bank of Russia, legislation has restrictions not provided for for credit institutions. In particular, the counterparties of the Bank of Russia on operations and transactions can only serve as a certain provision and for a period of no more than 1 year (with the exception of non-tax loans issued in the context of the financial and economic crisis). There are also restrictions on financial economic activity Bank of Russia, participation in capital of other legal entities. Among other things, the Bank of Russia needs to be considered as an effective investor and resource distributor among credit institutions. Effective distribution is the condition that the accompanying development of the banking sector will be maximal. Accordingly, the participation of the Bank of Russia in any events of the socio-economic policy of the state, providing for the involvement of the banking sector, regardless of the current macroeconomic situation, will be justified.

Thus, the goals, objectives, functions and operations of the Central Bank of the Russian Federation meet its entity. All those goals and objectives that stand in front of the Bank of Russia and the authority provided to him ultimately are determined by the fact that the bank acts as a national center designed to regulate the monetary circulation in the country.

2.1.2 Banking and non-bank credit organizations, their functions and a role in the country's credit system

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

Banks are credit organizations that have the exceptional right to carry out the following banking operations in aggregate: attracting funds in the deposits of funds from individuals and legal entities; placement of these funds from your own behalf and at its own expense on the terms of repayment, payability, urgency (lending); Opening and maintenance of bank accounts of individuals and legal entities. Commercial banks accumulate and mobilize cash capital, carry out mediation of credit, check the calculations and payments in the economy, organize the issue and placement of securities, provide consulting services. Depending on the method of the formation of authorized capital, commercial banks can be divided into joint-stock and mutual.

For credit institutions, three credit principles are established: the principle of repayment; urgency principle; The principle of payability.

Non-bank credit institution (NGO) is an organization that has the right to carry out separate banking operations. Permissible combinations of banking operations for NGOs are established by the Bank of Russia. Legislative requirements for non-bank credit organizations are lower than to banks, which is associated with a lower risk of operations.

In general, non-bank credit organizations can be divided into three main types: settlement non-bank credit organizations (RNOs), payment non-bank credit organizations (PNKOs) and non-bank depository and credit organizations (NDKO).

RNOs can carry out the following activities:

* opening and maintenance of bank accounts of legal entities;

* settlements on behalf of legal entities, including corresponding banks, according to their bank accounts;

* Collection of funds, bills, payment and settlement documents and cash maintenance of legal entities;

* Purchase and sale of foreign currency in cashless form;

* implementation of cash transfers on behalf of individuals without opening bank accounts (with the exception of postal transfers);

RNKO is not entitled: to attract cash of individuals and legal entities into deposits; discover and conduct bank accounts of individuals, carry out settlements on behalf of individuals on their bank accounts; buy and sell cash foreign currency; involve in deposits and place precious metals, and also issue bank guarantees. In other words, RNCO does not have the right to attract deposits and issue loans, it provides a system of calculations and translations.

The payment non-banking credit organization has the right to carry out money transfers without opening bank accounts and related other banking operations. This type of NAO appeared with the release of the law "On the National Payment System". Compared to the settlement payment of non-bank credit institution, a narrower range of operations is allowed. It should provide a risk-free translation system within the organization of instantaneous, electronic, mobile payments.

Ndko can carry out the following banking operations:

* raising funds of legal entities in deposits (for a certain period);

* placement of funds rapidly attracted to deposits from their own behalf and at their own expense;

* purchase and sale of foreign currency in non-cash form (exclusively on their own behalf and at its own expense);

* issuance of bank guarantees;

* Implementation of activities in the securities market.

NDKO is not entitled:

* Attracts the funds of individuals into deposits (to demand and for a certain period) and legal entities to demand deposits;

* open and conduct bank accounts of individuals and legal entities, as well as settlement on them;

* engage in collecting cash, bills, payment and settlement documents and cash maintenance;

* buy and sell cash foreign currency;

* attract precious metals into deposits and place;

* Carry out money transfer on behalf of individuals without opening bank accounts.

In other words, NDKO is not entitled to spend estimated operationsBut can implement certain credit and deposit operations.

Thus, modern economic conditions opened the problems of the banking sector, forced banks to revise customer policies, as well as the line of their products, changed tariffs. The purpose of the client's struggle is the desire to increase its own liquidity, even if at the expense of elevated rates on attracted funds, the provision of free services. The need to "work out" increased costs forces banks to adhere to the more risky tactics for the placement of "temporarily free" funds.

2.1.3 Specialized credit and financial institutions, their functions and role in the country's credit system

Specialized Credit Financial Institutions (SCFCs) or Parabankovskiy institutions are distinguished by the orientation:

a) either for maintaining certain types of clientele;

b) either to implement mainly one or two types of services.

At the same time, for specialized credit and financial institutions (SQUI), a double subordination is characterized:

1) being connected with the implementation of the Credit and settlement operations of the SQFC was forced to be guided by the relevant requirements (instructions) of the Central Bank;

2) Specializing in any financial, insurance, investment or other operations, SQFA fall under regulatory activities of the respective departments.

The activities of specialized credit and financial institutions (SCFCs) are concentrated for mostly on servicing a small market segment and, as a rule, providing services to a specific clientele.

A special variety of SCFCs are postal savings institutions that form the postal savings system. One of the most important and oldest elements of this system are postal savings banks that have historically emerged as government agencies to attract small depositors.

Postal and savings institutions through post offices accumulate population deposits, make and issuing funds. Recently, in most countries, credit-estimated postal and savings institutions, characteristic of banks, are increasingly erased by the faces between the provisions of banking legislation and the regions of financial legislation on the subject of activity and types of services provided by various credit institutions.

Specialized credit and financial institutions (SPCF) include:

leasing firms, factoring firms, pawnshops, credit partnerships, societies and unions, society of mutual loan, insurance companies, investment companies (funds), pension funds, financial companies, calculated (clearing) centers.

Leasing companies - organizations, firms that carry out leasing operations. Leasing is the type of financial services, a form of lending when purchasing fixed assets by enterprises or very expensive goods individuals.

Factoring is a range of services for manufacturers and suppliers leading trade activities On the terms of deferred payment.

Lombards are credit institutions issuing loans secured by movable property.

Credit unions are credit cooperatives organized by certain groups of individuals or minor credit institutions.

Mutual Credit Societies (HVC) - type of credit institutions close to the nature of the activities for commercial banks serving small and medium business

Insurance societies - organizations that provide insurance services acting into the role of the insurer, i.e. Making responsibility to refund the insured damage when an insured event occurs. Insurance companies carry out insurance of life, health, property, responsibility, etc.

Investment Fund - an institution that implements collective investments. Its essence in the accumulation of savings of private and legal entities for the joint, including portfolio investment through the purchase of securities, and not real production assets. At the same time, due to the fact that the acquisition of securities is carried out professional participant Market, it allows you to minimize the risks of private investors.

The Pension Fund is a fund for the implementation of old-age pensions or disability.

Financial companies are a special type of credit and financial institutions that act in the sphere of consumer loan.

Clearing-clearing organization is a specialized organization bank typewhich carries out the settlement service of the participants of the organized securities market.

Thus, the influence of credit institutions on the economy is extremely large, since it is they who provide the functioning of the financial market, organize the redistribution of funds between individual enterprises, industries, territories, individuals and legal entities. In case of insufficient development of the credit system, the pace of economic development suffers, since enterprises, experiencing a lack of resources for the development of production, cannot fill it at the expense of credit sources. The successful development of the economy contributes to the development and strengthening of the credit system.

2.2 Comparative analysis of the structure and functions of credit systems of foreign countries and Russia

For clarity, consider US credit systems, Germany, Great Britain, Japan and the Russian Federation separately.

US credit system. The core of the US credit system is the federal backup system (Fed) (application structure.

Within the framework of the Fed there are the following important bodies:

1. Committee on Operations on the Open Market Fed.
2. Federal Advisory Council (Federal Advisory Council - FAC).
3. Fed apparatus.

The liabilities of federal reserve banks consist:

1) out own capitalcreated at the expense of mutual contributions of member banks;

2) from banknote emission;

3) from bank deposits, representing reserves of Fed member banks.

Focusing in federal reserve banks of cash reserves of commercial banks was a factor in saving money. The Fed organization contributed to saving cash and otherwise - due to the development of non-cash settlements that began to be carried out in broad sizes through federal reserve banks. Congress decided that in order to effectively carry the Fed of his duties, it should be independent of the executive and legislative branches of power. The Law on the Federal Reserve System of 1913 established 12 separate federal reserve districts, each of which has its own federal reserve bank. In each of the 12 districts, Banks are members of the Fed are the shareholders of their federal reserve bank. They choose 6 of the 9th directors of this bank.

Federal reserve banks are designed not to make a profit, but to supervise the Bank members of the Fed and participate in the implementation of monetary policy developed by the Governing Council. The main active operation of federal reserve banks is to purchase government securities. Compared to this, a minor amount is a loan of federal reserve banks banks to members. Federal reserve banks are most advantage of state lenders. But the funds invested in state securities are ultimately used in the interests of corporations, as they are spent by the state to a large extent to pay for state promenes and the purchase of goods.

In addition to emission (federal reserve) banks, the US banking system includes:

1) commercial banks,

2) investment banks,

3) mutually savings banks,

4) banker houses.

The most common type of banks in the United States is the inflammatory bank - a bank without branches (branches). That is why the number of banks in the United States significantly exceeds the number of banks in any other country. However, the structure of the US banking system is changing all the time. Infilia banks still retain their importance, but the role of offices, banking holding companies and other organizational structures in our days increases increasingly.

The German credit system displays a relatively tough monetary policy model, despite the broad political rights of the regions that are included in the Federation. Features are also related to the fact that all the basic functions of financial intermediation are concentrated in universal banks (commercial banks and savings offices), which do not specialize in individual operations, as the US credit institutions and Japan do. At the moment, a highly developed banking system has been created in Germany. Control over its activities is carried out by federal control of control (subordinated to the Ministry of Finance).

Credit - Financial institutions in Germany perform four important national economic functions:

1. regularly carried out on assignments of many customer payments, ensuring the functioning of the non-cash payment turnover system;
2. take on the risks of interested in obtaining loans of companies;
3. act as a binder when attracting capital for various deadlines; Despite the fact that many depositors prefer short-term deposits, banks provide long-term investment financing;
4. accumulate due to the set small deposits Funds for large loans.

Germany's credit system is one of the most developed in Europe. The reputation of Germany as a lead banking center The world is associated with the perfection of national legislation. German credit system has a two-level structure. At the first level of the credit system there is a German Federal Bank.

From August 1, 1957, the Law on German Bundesbank came into force, on the basis of which a new banking system headed by German Bundesbank was operating, with central administration in Frankfurt am Main and nine offices - central land banks and 126 urban offices. In accordance with the law, Bundesbank is a federal corporation. The authorized capital of the bank fully belongs to the federal government. On the other hand, the Bank performed by its activities is fully independent of the government.

Bundesbank performs the following main functions:

Is the issuing center of the country;

Is the country's currency center;

Carries out the cash execution of the federal budget;

Carries out maintenance of credit institutions;

Is the settlement center of the country;

Carries out monetary regulation of the country's economy.

At the second level there are commercial banks and non-bank credit - financial institutions.

The UK credit system is one of the oldest. It is characterized by a high degree of concentration and specialization, well-developed banking infrastructure, close relationship with the international market of loan capital.

The banking system of Great Britain is a two-level. At the top level - the central bank, on the bottom - other banks: commercial (deposit) and specialized - trade, foreign, savings banks, accounting houses.

The key role of the Bank of England in the credit system is determined primarily by the fact that it serves as the issuing cash center of the country. The bank monopolis is issued by banknotes. His obligations (both in the form of banknotes and in the form of deposits of other banks) are the monetary base of the entire credit system. Any bank considers deposits at the Bank of England as their cash reserve, since if necessary, he can always withdraw funds from his account. Reducing or expanding the amount of its obligations, the Bank of England affects the magnitude of the cash reserves of banks and the money supply in circulation.

Bank of England:

Government consultant on monetary policy issues and its conductor.

Is a banker of all other banks

Exercises lending to the banking system

He is a bank of government

Manages public debt.

Commercial banks in the UK are called deposit banks. They constitute the basis of the banking system. Most of the operations of deposit banks focuses in six London clearing banks. They are called because they are members of the London Clearing Chamber

The credit system of Japan consists of three links: Bank of Japan, commercial banks and financial institutions. The central bank (Gink nippon) is the top level of the credit system, its chairman. The Bank of Japan carries out emissions of money, monetary policy, state-monopolistic regulation of the economy and cash services for the treasury.

Commercial banks are divided into several categories: urban, regional banks, trust banks, long-term lending banks, foreign banks.

Government financial corporations also function in industries, in lending to which private banks are little interested. In Japan, there are 8 state corporations (Appendix 6). Insurance companies in Japan are private institutions for life insurance, as well as on property insurance. They accumulate huge tools that are used primarily for investment in securities. Stock companies specialize in securities operations. This segment of the country's financial market in modern conditions is changing very dynamically. Postal savings cash registers occupy an important place in the structure of the country's credit relations, accumulating the savings of the population.

Japan's credit system from the very beginning of its functioning was subordinated to the tasks of the general socio-economic development of the country, the strategy of turning Japan in the global economic leader. This explains its specificity, expressing primarily in the active participation of the state in the banking business, in planning and regulating the economic development of the country. It is this feature that often undergoing severe criticism from Western economists of liberal sense. However, a similar strategy to a great extent contributed to the transformation of the backward in the past Eastern country into a modern prosperous state. In the similar direction, modern banking systems of South Korea and China are developing.

Credit system of the Russian Federation. The modern structure of the credit system of the Russian Federation approaches the model of the credit system of industrialized countries.

The Russian banking system is formed by the Bank of Russia, the Bank of Foreign Trade of the Russian Federation (Vneshtorgbank), the Savings Bank of the Russian Federation (Sberbank), commercial banks of various species, as well as other credit institutions that have licensed banking operations. The rod of our banking system is the Bank of Russia. Foreign trade bank carries out foreign economic activity and performs operations in foreign currency. Vneshtorgbank is a joint-stock, controlling stake in this bank owns the Bank of Russia. Sberbank is also a joint-stock company, and the bank's test package owns the Bank of Russia. According to the law, the state guarantees the complete preservation of funds and other values \u200b\u200bof the population, entrusted to Sberbank, and issuing them to the first requirement of investors (contribution to demand). This is the main difference between Sberbank from commercial banks. Sberbank performs almost all the same operations with cash funds as commercial banks. Sberbank and commercial banks stored cash contributions enterprises and population provide loans to legal entities and individuals and, thereby, increase the offer of money in the economy.

Commercial banks in the Russian banking system play an executive role. Through commercial banks, the Bank of Russia implements financial policies. Each bank can only carry out its activities on the basis of a license issued by the Bank of Russia. The Bank of Russia may, on the basis of the law, select a license from the Bank - this acts as a decision on the liquidation of the bank. Banks have the right to open on the territory of the Russian Federation and beyond the branches. Banks can form banking unions, interbank associations, associations. It is prohibited only to use these and other associations to achieve agreements aimed at monopolizing the banking operations market and to limit competition in banking. Wide distribution received in our country to associate banks to bank holding companies. Banking holding companies are firms that owe a share joint Stock Capital One or more banks sufficient to carry out complete control over them. Consequently, banking holding companies focus in one hands the process of managing a whole group of banks. It is beneficial for firms, since they have the opportunity as soon as possible, if necessary, a loan from these banks.

Most of its part, commercial banks are shareholders (there is a minor share of cooperative banks), and their shares are treated in the securities market along with securities of industrial enterprises.

All banks must keep their mandatory reserves in the Bank of Russia, as the main part of the bank's assets is indefinite deposits to be withdrawn from the first requirement of depositors, a certain percentage of assets should be stored in reserves in highly liquid form. The activities of banks are annually subject to auditing organizations.

Thus, the analysis of credit systems of different countries, the consideration of the advantages and disadvantages of each of them make it possible to build a system of credit relations that meet modern requirements. Powerful, well-established national credit system - a guarantee of successful development russian economy. The process of becoming a credit system revealed certain problems and disadvantages in all its structural links. Therefore, in Russia it is necessary to develop and implement a system of measures that would solve three interrelated tasks. First, improving the credit climate in the country as a whole. Secondly, to ensure the alignment of credit conditions, the availability of resources for enterprises of various regions. And finally, to create a mechanism that allows the state to regulate financial flows, including credit, to direct them to address priority economic tasks - to modernize the economy, the development and implementation of modern technologies.

3 Problems and Improvement of the Credit System of the Russian Federation

3.1 Problems of the modern credit system of the Russian Federation

The features of the Russian credit system are currently consistent with the predominance of commercial banks, a weakly diversified structure (limited the number of species of other credit institutions), the fuzziness of the legislative regulation of other credit institutions not included in the banking system, and the absence of uniform approaches to their activities, low quality management in a number of credit institutions, including the inefficiency of risk management and internal control systems, weak development of modern banking technologies. In addition, it can be noted a constant reduction in the number of credit institutions (from 1476 in 1999 to 958 in 2012).

Moreover, the decrease in the number of credit institutions is mainly due to the decrease in the number of minor credit institutions with the authorized capital to 150 million rubles. (from 1426 in 1999 to 290 in 2012). This is manifested in the difference between the credit system of Russia from the credit systems of other countries (Appendix 7).

Another feature of the Russian credit system is the fact that with a general reduction of banks in Russia, since 2005, there has been a sharp increase in the number of large banks with the authorized capital from 150.0 million rubles. And above and amounts to 01/01/2012, 668 banks, as well as the fact that the bulk of assets (74.9%) falls on the 30 largest banks in Russia.

One of the specific features of the Russian banking system is the extreme unevenness of the territorial distribution of banking institutions. Most banks are located in Moscow and in the Moscow region - 52.4% of existing credit institutions and 88% of the total assets of the banking sector. Very few banks operate in rural areas and in distant areas. The services of organizations and the population are mainly engaged in the branches of Sberbank of the Russian Federation and branches of banks of regional centers. Most provincial banks have a pronounced regional orientation, as a result of which there are many relatively separable local banking markets. This situation has objective reasons: a large territory, the underdevelopment of the infrastructure away from large cities, etc., but nevertheless the elimination of territorial unevenness is one of the promising directions for the development of the Russian banking system.

A feature of the modern period of development of the credit system is that the global financial crisis 2008-2009 has provided for its development, which led to a significant reduction in the number of banks.

For today, many banks undergo the following transformation:

Banks are combined with the aim of increasing and maintaining capital, i.e. There is a fusion of capital;

Large banks buy smaller banks, i.e. absorption occurs;

Banks are closed in connection with bankruptcy or due to the impossibility of small banks to fulfill the requirements of the Central Bank for work and the size of the authorized capital, i.e. Self-destruction or liquidation is carried out. Interbank loans begin to play an increasing role in the formation of resources of commercial banks. However, they have significant disadvantages - the lack of efficiency in the redistribution of funds, limitedness in size and timing. You can liquidate these disadvantages by attracting the resources of the Central Bank as a lender "in the last instance" or the creditor of the "last hand".

3.2 Ways to improve the modern credit system of the Russian Federation

A powerful, well-established national credit system is the key to the successful development of the Russian economy. The process of becoming a credit system revealed certain problems and disadvantages in all its structural links. Therefore, in Russia it is necessary to develop and implement a system of measures that would solve three interrelated tasks. First, improving the credit climate in the country as a whole. Secondly, to ensure the alignment of credit conditions, the availability of resources for enterprises of various regions. And finally, to create a mechanism that allows the state to regulate financial flows, including credit, to direct them to address priority economic tasks - to modernize the economy, the development and implementation of modern technologies.

It is necessary to develop mechanisms that will provide favorable conditions for attracting capital to credit organizations. It is advisable to establish a number of sectoral development banks, as well as reorient major credit organizations with state participation on preferential financing of high-tech and manufacturing industries. With regard to other banks, a flexible policy is required to develop specialization and concentrations of banking capital. Gradually changing the legislation, it is necessary to structure the banking system in such a way that part of credit institutions specialized on the calculations, part - on various types of loans, and part - on investment activities. At the same time, it is necessary to stimulate the friendly mergers of banking structures in order to increase the degree of banking capital concentration. To solve these tasks, it is necessary to combine the efforts of the legislative and executive power and, of course, the entire banking community.

According to the Bank of Russia, strict measures to stimulate capitalization of the banking system should have a positive impact on the country's financial and credit system, cause its revival and bring the level of its development to international standards.

Thus, the Central Bank of the Russian Federation carries out monetary regulation of the country's economy and, depending on the direction of the credit policy, builds its relations with banks. The Bank of Russia is conducting a policy towards banks aimed at expanding or reducing the volume of credit investments. At the same time, such tools are used as a change in the level of the accounting rate, the size of the minimum requirements for the mandatory reservation of the part of the resources attracted by banks, the volume of operations carried out on the open market. The use of this or that method of regulation by the central bank or their aggregate depends on the degree of development of market relations in a given country.

Conclusion

Study in the course work is devoted to theoretical aspects of Russian and foreign credit systems.

During the writing of the work, the structure and functions of credit systems in Russia and abroad, which makes the following conclusions:

1. The credit system has a double nature: it represents a combination of credit institutions and credit relations, forms and lending methods in accordance with the basic principles of lending.
2. The central bank is the main part of the structure of the credit system, which also includes the banking sector, which enters into credit and financial relations with individuals and legal entities. Insurance organizations, pension funds, investment and financial companies, charitable funds, trust companies and loan-savings cash registers support the normal functioning of the country's credit system.
3. The Russian credit system consists of a banking system and specialized credit and financial institutions. The Central Bank is a special public-legal institution of the first level, having a unified centralized system with a vertical management structure, which has the right to apply state coercive measures to implement their powers. The second-level credit institutions include bank credit organizations, non-bank credit organizations and specialized credit and financial institutions, each of which performs its range of banking operations.
4. The Central Bank of Russia is the main bank of the country and the central link of its banking system. Its activities are aimed at developing and strengthening the banking system of the Russian Federation, ensuring the sustainability of the ruble and the uninterrupted functioning of the payment system, and not to receive profits. All his property and authorized capital are federal property, and it is an effective investor and resource distributor among credit institutions in Russia.
5. Banks are endowed with exceptional right to accumulate and mobilize cash capital, exercise lending, produce securities. Non-bank credit organizations, in turn, have the right to carry out payment, settlement, credit and deposit operations.
6. Specialized credit and financial institutions are valid, obeying the instructions of the Central Bank or other departments. They ensure the redistribution of funds between the participants of the financial economic relations.
7. A comparative analysis of the structure and functions of credit systems of foreign countries and Russia shows that, relying on the experience of foreign economies, some aspects of our national credit system can be improved, which will allow the Russian economy to successfully develop and respond to all modern requirements of the economy.
8. The credit system of the Russian Federation is currently facing a constant decrease in the number of credit institutions and the enlargement of the already large banks. The territorial unevenness of the credit system makes it difficult to function.
9. To improve the National Credit System of Russia, it is necessary to follow three areas - to improve the credit climate in the country, to ensure the alignment of lending conditions, develop mechanisms for the successful distribution of capital.

Thus, the credit system operates through the credit mechanism. It includes all aspects of loan, investment, founding, intermediary, advisory, accumulation, redistribution activities of the credit system in the person of its institutions

In recent years, the Russian banking system has been developing intensively, and positive trends have emerged in this development. Credit organizations began to strive for the greatest transparency, openness to customers. Advanced business models are being introduced, new banking technologies (client-bank, money transfers, debit and credit cards etc.), various types of lending (consumer, mortgage, etc.). By the end of the XX century. In Russia, a credit system for the structure close to the credit system of countries with market economies has been established, work is underway to improve the functioning of institutions already operating in the market of credit and financial services, as well as to create structures that have not yet been widespread in Russia (credit unions, Loan-savings associations, factoring firms, pawnshops).

Nevertheless, in all indicators, the banking system of Russia lags far behind the developed countries. Despite the high growth, the amount of loans issued it does not correspond to the objectives of economic growth facing the country. In industrialized countries, the system of state regulation of the credit system is a complex, efficient and fairly controversial mechanism. However, it developed for a long time, passing the stages of adaptation and structural changes.

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Attachment 1

(mandatory)

Picture 1

Fig. 1. Scheme "Credit system structure"

Appendix 2.

(mandatory)

Figure 2.

Fig. 2. Scheme "Hierarchical structure of the credit system"

Appendix 3.

(mandatory)

Figure 3.

Fig. 4. Scheme "Organizational Structure of the Bank of Russia"

Appendix 4.

(mandatory)

Table 1

Functions of the Bank of Russia

	in cooperation with the Government of the Russian Federation develops and conducts a unified state monetary policy
	monopolois carries out the emission of cash and organizes cash
	approves a graphic designation of the ruble as a sign
	he is a lender of the last instance for credit institutions, organizes the system of refinancing
	sets the rules for making calculations in the Russian Federation
	oversees and monitoring the national payment system
	sets the rules for holding banking operations
	carries out maintenance of budget accounts of all levels budget system Of the Russian Federation, unless otherwise established by federal laws, through settlements on the instructions of the authorized executive bodies and state extrabudgetary funds, which are assigned to the organization of the execution and execution of budgets
	exercise efficient management of gold and foreign exchange reserves of the Bank of Russia
	makes a decision on state registration of credit institutions, issues licenses to credit organizations for banking operations, suspends their action and recalls them
	supervises the activities of credit institutions and banking groups
	registers issuing securities with credit institutions in accordance with federal laws
	exercise independently or on behalf of the Government of the Russian Federation, all types of banking operations and other transactions necessary for the functions of the Bank of Russia
	organizes and implements currency regulation and currency control In accordance with the legislation of the Russian Federation
	determines the procedure for making calculations with international organizations, foreign statesas well as with legal entities and individuals
	sets the rules of accounting and reporting for the banking system of the Russian Federation
	establishes and publishes official foreign currencies in relation to the ruble
	takes part in the development of the forecast of the balance of payments of the Russian Federation and organizes the preparation of the balance of payments of the Russian Federation
	takes part in the development of the methodology for the preparation of the financial account of the Russian Federation in the system of national accounts and organizes the preparation of the financial account of the Russian Federation
	an analysis and prediction of the state of the economy of the Russian Federation as a whole and by regions, primarily monetary, currency and financial and price relations, publishes relevant materials and statistical data
	pays the payments of the Bank of Russia at the deposits of individuals in recognized by bankrupt Banks that do not participate in the system of compulsory insurance of deposits of individuals in banks of the Russian Federation, in cases and procedure provided for by the Federal Law
	it is the depositary of the funds of the International Monetary Fund in the currency of the Russian Federation, performs operations and transactions provided for in articles by the Agreement of the International Monetary Fund and agreements with the International Monetary Fund
	performs other functions in accordance with federal laws

Appendix 5.

(mandatory)

table 2

Banking operations and bank transactions in Russia

provide loans for a period of no more than one year under providing securities and other assets, unless otherwise established by the Federal Law on the Federal Budget

provide loans without providing for a period of no more than one year by Russian credit institutions that are rating not lower than the established level. List of rating agencies whose ratings are used to determine the creditworthiness of credit recipients, and the necessary minimum indicators of relevant ratings, additional requirements for loans recipients, as well as the procedure and conditions for the provision of relevant loans are established by the Board of Directors

buy and sell securities on the open market, as well as sell securities that advocate the Bank of Russia loans

buy and sell bonds issued by the Bank of Russia and deposit certificates

buy and sell foreign currency, as well as payment documents and obligations denominated in foreign currency exposed by Russian and foreign credit institutions

buy, store, sell precious metals and other types of currency values

conduct settlement, cash and deposit operations, take storage and securities management and other assets

issuance of guarantees and bank guarantees

perform operations with financial instruments used to manage financial risks

open accounts in Russian and foreign credit institutions in the territory of the Russian Federation and territories of foreign countries

exhibit checks and bills in any currency

carry out other banking operations and transactions on their own behalf in accordance with the customs of business turnover adopted in international banking practice

carry out banking operations with legal entities that do not have licenses for banking operations, and individuals, except in cases provided for by the Federal Law

acquire shares (shares) of credit and other organizations, except in cases provided for by the Federal Law

carry out operations with real estate, except in cases involving the activities of the Bank of Russia and its organizations

engage in trade and manufacturing activities, except in cases provided for by the Federal Law

prolongate provided loans. Exception can be done by decision of the Board of Directors

Appendix 7.

(mandatory)

State Corporations of Japan

1. National Life Finance Corporation.
2. Housing lending corporation.
3. Corporation of financing agriculture, forestry and fisheries.
4. Japanese financial corporation for small business.
5. Japanese financial corporation of small and medium enterprises.
6. Japanese financial corporation for municipal enterprises.
7. Financial Development Corporation Okinawa.
8. Association of credit guarantees.

The development of the cumulative loan portfolio in recent years has influenced the development of the Credit System of the Russian Federation, and on the dynamics of the total loan portfolio:

• slowdown in economic growth in Russia;
• redistribution of part of credit resources to the consumer lending market;
• reducing capital adequacy in many banks;
• continued policy of the Central Bank of the Russian Federation to eliminate inefficient credit organizations;
• a significant gap between the average value and expectations of borrowers;
• restructuring of the RF credit system, including through the consolidation and universalization of banks.

The following trends are predicted in the development of the Credit System of the Russian Federation in 2018:

• continuation of the elimination of ineffective banks, license reviews;
• increasing industry industries with a maturity of more than 1 year, especially lending with a maturity of more than 3 years;
• an increase in economic growth in Russia;
• maintaining low inflation;
• reducing the key rate, as a result, reducing the average loan interest value;
• further growth of lending to state banks;
• further growth in lending enterprises of manufacturing industries;
• the preference of the population will continue to take ruble loans that occupy a majority share in the aggregate volume of lending;
• more than half of all consumer loans fall on large private banks and state banks.

Credit system structure

Institutional aspects of development The Bank of Russia assesses as part of the quantitative characteristics of the banking sector, the development of banking activities and its concentration.

It should be noted that over the past four years there has been an obvious tendency to reduce the number of credit institutions.

The tightening of the requirements of the Central Bank of the Russian Federation to the credit institutions in terms of compliance with the norms of credit and quality of assets, as well as by the execution by banks of federal laws and regulations against the background of some slowdown in the growth of the Russian economy over the past three years, has led to a decrease in the development of the Russian credit system. Banks are increasing the resource base at the expense of internal sources of funding, such as population savings and means of organizations. At the same time, the demand of banks on the instruments of the refinancing of the Bank of Russia and on the deposits of the Federal Treasury contributed to the internal optimization of the institutional structure of the credit system.

The institutional structure of the credit system of Russia is presented in the table.

Institutional structure of the banking system in Russia, units

Name					The change
Registered credit institutions by the Bank of Russia and other bodies
Number of existing credit institutions
Credit organizations that are withdrawn (canceled) license to carry out banking operations
Credit organizations that have licenses to carry out operations in foreign currency
Credit organizations with general licenses
Number of existing non-bank credit institutions

Data source Bank of Russia

For the period from January 1, 2012 to January 1, 2018, the number of credit institutions registered in the Russian Federation decreased by 189 or 17% and as of January 1, 2018 amounted to 923. Since 2012, the number of current credit institutions decreased from 978 to 561 units. A total reduction for the period from January 1, 2012 to January 1, 2018 was 417 units, the rate of decline was 42.64%.

Thus, in recent years, a tendency to reduce the number of existing credit institutions has remained.

Large multifilia banks during this period continued to optimize their regional units by reducing the number of their branches. The revision by the banks of their internal structure led to an increase in the structural divisions of credit institutions due to the growth of additional offices, credit and cash offices and operating offices. Such internal restructuring was also consequence of the changed policy of the Central Bank of the Russian Federation in relation to credit institutions, the quality of their assets and management standards.

The number of credit institutions that are withdrawn (canceled) a license to carry out banking operations, as of January 1, 2018, it was 362. It should be noted that this is a consequence of the practical implementation of the Central Bank of the Russian Federation within its regulatory policies aimed at improving the quality of assets and development of the credit system of the Russian Federation. The number of credit institutions with general licenses for the analyzed period decreased by 84 units. 303 Credit organizations lost licenses for the implementation of operations in foreign currency.

The number of operating non-bank credit institutions for the period from January 1, 2012 to January 1, 2018 decreased by 12 and amounted to 44 units, the rate of reduction was 21.43% for this period.

It should be noted that at present, in the Credit System of the Russian Federation, all credit organizations are divided into two types: banks and non-bank credit organizations (NPOs).

Division of credit institutions in the Russian Federation

Over the past six years, there has been an obvious tendency to reduce the number of credit institutions in Russia. The key factor in reducing the number of current credit institutions, including non-bank credit institutions, is the tightening of the requirements of the Central Bank of the Russian Federation to them in terms of compliance with the standards of lending, permissible risk levels and quality of assets, ensure sufficient reserves, liquidity and by banks of federal laws and regulations. .

Banks and non-bank credit organizations differ in the list of banking operations that they have the right to exercise within their activities. The non-bank credit institution has the right to make individual banking operations and is valid on the basis of the license of the Central Bank of the Russian Federation. At the same time, a number of banking operations are directly prohibited for the implementation of NGOs: the opening of the current accounts of individuals, the implementation of transfers to bank accounts of individuals, attracting money from individuals to accommodate in deposits. NGOs do not participate in the deposit insurance system.

In accordance with the list of operations possible for the implementation of non-bank credit institutions, there are three types of NGOs in the Russian Federation.

Types of NGOs in the credit system of Russia

It should be noted that neither payment, nor settlement non-bank credit organizations can not be engaged in issuing loans and attract funds for deposits.

It should be noted that within the framework of the Credit System of the Russian Federation, the NPO is not a substantially significant institutional element, since only 4 NGOs can carry out operations related to the provision credit funds.

The formalized development of the credit system in Russia over the past years occurs within the framework of the general trend of consolidation and consolidation of banks. The share of the five largest credit institutions in terms of assets account for more than half of the total volume of loans issued. At the same time, they more than 2.5 times reduced the number of their branches. Thus, we can talk about the growth of banking concentrations in the framework of the Russian credit system.

Literature

1. Banking Sector // Bank of Russia - URL: http://www.cbr.ru/nalytics
2. Banking [Text] / Ed. O. I. Lavrushina. - M.: Knorus, 2016.
3. Money, credit, banks. [Text] / Ed. O. I. Lavrushina. - M.: Knorus, 2016.

Introduction

The modern credit system of the Russian Federation has developed as a result of various transformations produced in the framework of bank reform, which is held in our country since 1987 . When considering a credit system, it should be borne in mind that it is based on the implementation of complex economic relations that have passed the long historical path of development and playing a role in the structure of all economic relationships.

A modern credit system is a combination of a wide variety of financial institutions operating in the market of loan capital and carrying out accumulation and mobilization of income, consisting of several institutional units or tiers.

The creation of a modern credit system of the Russian Federation was preceded by a long period, which was determined by the socio-economic conditions for the development of our country. The current credit system is close to the model operating in most industrialized countries, although in Russia the situation is complicated by the imperfection of the securities market and the weak development of non-bank credit institutions.

The main part of the credit system is the banking system. The two-level banking system plays a crucial role in ensuring operation national economy. By carrying out settlement, deposit, credit and other operations, banks perform socially necessary functions. The banking system of the Russian Federation is a unique phenomenon: according to the number of banks, the level of privatization, the growth rate and degree of deregulation, the Russian banking sector noticeably exceeds similar indicators not only by countries with economies in transition, but also the overwhelming majority of developing countries. In conditions of developed commodity and financial markets, the structure of the banking system is sharply more complicated. New types of financial institutions appear, new credit tools and customer service methods.

Credit is currently important. He solves the problems facing the entire economic system. Thus, with the help of a loan, it is possible to overcome the difficulties associated with the fact that temporarily free money is released in one site, and the need for them arises. The loan accumulates the released capital, thereby serving the tide of capital, which provides a normal reproductive process. Also, the loan speeds up the process of money circulation, ensures the fulfillment of a number of relations: insurance, investment, plays a large role in regulating market relations.

The relevance of the chosen topic is due to the existing economic conditions currently, both in our country and around the world. In the development of any state, a considerable place is occupied by a credit system, which largely determines the development of the economy, the growth of the potential opportunities of the state and the growth of the well-being of its population. At the same time, the state itself should influence the development of the credit system, on its formation, activities and, accordingly, placing on the territory of states. The effectiveness of the credit system largely depends not only on its structure of the function, but also placement of banks in the territory of the state. The emergence of the modern credit system of the Russian Federation preceded a long historical period, which was determined by the socio-economic conditions for the development of our country.

The purpose of this work is to study the credit system of the Russian Federation.

Tasks: to give the concept of a credit system, consider the stages of the historical development of the credit system in Russia, as well as to characterize the modern credit system of the Russian Federation.

Chapter 1. Concept and historical development of the credit system of the Russian Federation

1.1 Concept of the Credit System of the Russian Federation

In Russian and foreign literature, there is no consequential opinion regarding the concept of "credit system":

The credit system is a combination of various credit and financial institutions operating in the market of loan capital and carrying out accumulation and mobilization of money capital (E. F. Zhukov).

Credit system - This is a combination of banks and other credit institutions that carry out credit relations (P. I. Vakhrin).

Credit system - 1) a set of credit relations, forms and lending methods (functional form); 2) A combination of credit and financial institutions accumulating free cash and providing them in a loan (institutional form) (V. I. Kolesnikov).

Credit system - (in a broad sense) a set of credit relations, forms and methods of loan existing within a particular socio-economic formation; (in a narrow sense) a set of banks and other credit and financial institutions carrying out the mobilization of free cash and income and the provision of them in a loan (Eronova V.N.)

The credit system and the need for credit relations in the market economy is well known. On the one hand, individual firms, individuals and other participants in market relations arise temporarily free money: surplus cash in the form of depreciation deductions, temporarily free funds due to the incomprehension of the time of the sale of goods and services and the time of acquiring new batches of raw materials, materials, etc. On the other hand, participants in market relations arise the need for additional funds, over those they have at the moment. There is a contradiction, quite solvable with the help of a special infrastructure of the market economy - a credit system.

The credit system can be viewed in two aspects of manifestation:

first, the credit system is as a set of credit relations, forms, methods and types of lending;

secondly, a credit system as a set of banking and other credit institutions operating in the legal field defined by legislative acts.

Business organizations, the population, the state, the banks themselves can be subjects of relations.

In credit relations, every subject of the market can perform in two faces as a lender and as a borrower.

Credit relations in the economy are based on a certain methodological basis, one of the elements of which the principles are strictly observed in the practical organization of any operation in the loan market.

Credit organizations are interconnected among themselves and implement the needs of participants in market relations - commercial organizations, individuals, institutions of the state in cash or services related to finance and money circulation.

Credit system components

The credit system consists of banking and non-bank part.

The banking part is the main component of the credit system, since through its constituents the bulk of the funds participating in the money circulation takes place, and it is banks that the banks have an overwhelming majority of services in the financial market.

The non-bank part - consists of institutions that provide specific services, or a smaller range of services than banks (postage and savings institutions, pawnshop).

Banks - credit institutions whose purpose is to receive profits due to redistribution and maximum effective use Cash, both own and attracted from the part.

The Bank, on the basis of the License, the Central Bank attracts and then places funds from its own behalf on the terms of return, payability, urgency, and also carries out cash flow and other banking operations.

In the Russian Federation, the creation and operation of commercial banks is based on the Law of the Russian Federation "On banks and banking activities in the Russian Federation" No. 17-ФЗ dated 03.02.96

In accordance with this law: "The Bank is a credit institution that has the exceptional right to exercise the following banking operations in the aggregate: attracting funds to the deposits of funds from individuals and legal entities, posting these funds from its own behalf and at its own expense on the terms of repayment, payability, urgency , discovery and maintenance of bank accounts of individuals and legal entities. "

The main purpose of the Bank is the mediation in moving funds from creditors to borrowers and from sellers to buyers. Thus, banks are regulators monetary turnover countries.

Currently, banks carry out most of the credit and financial services. The main operations of banks are to attract cash accumulation - (deposits, settlement accounts) and the provision of funds in the loan.

1.2 Historical development of the Russian credit system

The creation of a modern credit system of the Russian Federation was preceded by a long historical period, which was determined by the socio-economic conditions for the development of our country.

The history of the credit system has passed several stages of formation. Until 1917, our credit system developed on capitalist laws, which reflected the relevant socio-economic formation. According to the structure, functions and operations, it approached the model of the credit system of leading capitalist countries of that time. The Russian Empire existed a three-story credit system consisting of the following links.

Structure of the credit system of the Russian Empire until 1917

1. National Bank;
2. The banking sector submitted mainly by commercial and savings banks
3. Specialized Credit Institutions (Insurance Companies, Credit Associations, etc.)

In contrast to Western countries in Russia, two tiers were developed mainly: the state bank and the private banking sector. The third tier has been developed relatively poorly, which was explained by the low level of development of capital markets and securities. At that time, in Russia, there were practically no institutions specializing in securities operations, and their market was represented by three stock exchanges. Therefore, the accumulation and mobilization functions in the capital market were mainly made by commercial banks.

In the first months after the 1917 revolution, the nationalization of all credit institutions (banks and insurance companies) was held, the national bank was created on the basis of Gosbank. The civil war that began in early 1918, essentially eliminated the credit system, since in the absence of commodity-money relations a loan lost its meaning. This confirms the fact of the merger of the People's Bank with Narkomfin (Ministry of Finance). The only source of income in the country was the issue of so-called monetary signs, which contributed to the naturalization of economic relations and limited the scope of commodity-money relations. In the early 20s, a new economic policy led to the restoration of the credit system, but in a fairly truncated form. Gosbank was created, joint-stock and cooperative commercial banks began to function. By 1925, a credit system was restored, the structure of which looked as follows.

The structure of the USSR credit system in 1925

1. National Bank;
2. Banking sector:
3. joint-stock banks (Prombank, Electric Bank, Vneshtorgbank, Southeast Bank, Far Eastern Bank, Central Asian Bank);
4. cooperative Banks (Gosstbank, Ukrainian);
5. utility banks (ceccinet and local utility banks);
6. Central Agricultural Bank, Republican Agricants;
7. Specialized and credit and financial institutions:
8. agricultural loan societies;
9. mutual loan society;
10. savings cashiers;
11. credit cooperation.

The structure of the credit system was represented by three tiers and expressed new socio-economic relations that have developed in the country by the beginning of the 30s. The peculiarity of the new credit system was that most of its links were state ownership, then the cooperative and most insignificant - capitalist (mainly with the societies of mutual loan). At the same time, the credit system was mainly represented by sectoral and specialized banks and lending companies.

In the new structure of the credit system there were no insurance companies and institutions engaged in operations with securities. This was due to the creation of a state insurance company and its removal from the credit system, as well as a very limited market for securities in the form of turnover of shares between various state-owned shareholders. Thus, accumulation and mobilization of cash resources was practically carried out by banks within state ownership.

In subsequent years, the credit system has undergone further changes under the influence of the credit reform of the 1930s, when all types of ownership were eliminated, except for the state. The credit system was turned into a single-tier, or one-piece system, expressing the socio-economic needs of the time associated with the implementation of plans of industrialization and collectivization. The credit system began to function in the framework of the command-administrative management system of the economy and was represented only by three banks, savings cash registers and two insurance organizations.

Structure of the USSR credit system

• National Bank;
• Stroybank;
• Bank for foreign trade;
• System of savings banks;
• Gosstrach and Ingosstrakh.

As a result of such reorganization, the State Bank, in addition to issuing and settlement and cash and cash activities, assumed the provision of short-term loans for industry, transport, communications and other branches of the economy, as well as long-term loans to agriculture.

The second bank of the country - Stroybank focused its activities on the provision of long-term loans and financing investments in various industries, crumbling agriculture. bank crediting commercial

The Bank for Foreign Trade was engaged in lending to foreign trade, international calculations, as well as operations with foreign currency, gold and precious metals.

The savings checkout system served wide sections of the population by attracting cash savings, pay for services and implementing advantageous government loans.

The Statestrates monopolized the insurance operations of legal entities and individuals within the country, Ingosstrakh carried out foreign insurance operations (insurance of foreigners, Soviet property abroad, export-import cargo, vehicles).

All accumulated funds of these organizations have created the so-called loan fund of the country, which later distributed and redistributed in the form of loans to various fields of farming.

A long-term command and administrative functioning of the credit system showed its weak efficiency, especially in the context of the exacerbation of financial and economic problems in the country by the beginning of the 80s. Credit essentially stopped playing the role of an active tool for the impact on the scientific and technical update of the economy. Most of the loans served as the second budget, since loans were not returned by enterprises. As a result, many loans were written off or walked the process of dedicating enterprises. This was especially related to a large number of planned and unprofitable enterprises and agriculture. The percentage of the loan remained at a rather low level, which did not stimulate the banks or enterprises to mutual efficiency. All this violated the main essence of the loan - fee for the loan and its return.

Therefore, in the mid-1980s, a bank reform was carried out in connection with the reorganization of the economy, which was expressed in the creation of large sectoral specialized banks.

The structure of the USSR credit system in the mid-80s .

• State Bank (State Bank of the USSR);
• Industrial and Construction Bank (Promstroybank);
• Agro-industrial bank (Agroprombank of the USSR);
• Bank of Housing and Communal Services and Social Development (Zhilsotsbank of the USSR);
• Bank of labor savings and lending to the population (Savings Bank of the USSR);
• Bank of foreign economic activity of the USSR.

The peculiarity of this reorganization was that the sectoral specialized banks were given the right of both short-term and long-term lending. Significant credit resources from the state bank were committed to specialized banks. The State Bank has retained the emission, calculated, controlling, functions, as well as lending to the non-production sphere. The system of savings box office has been transformed into a single savings bank with numerous branches and offices.

The main task of the reorganization of the banking system was to carry out progressive credit policy, an increase in the effectiveness of the entire credit system. However, as further practices showed, such reorganization was more negative than positive, since the monopoly of three banks (State Bank, Stroybank, Vnesheconombank) was essentially replaced by a monopoly of newly created, reorganized, specialized banks.

The central, single-tier structure of the banking system fixed the scope of the influence of banks on the departmental principle. Enterprises, as before, enshrined the banks and did not have the right to choose in obtaining credit resources. The costs of bank appeal sharply increased due to the increase in the banking apparatus, the growth of its wages and organized expenditures.

Gosbank was engaged only by the distribution of resources at the top level, without being able to influence the execution of credit plans. Each Bank has implemented independent credit plans using administrative management methods. Thus, they distributed their resources by vertical between their agencies, not paying attention to the profitability of the facility, and carried out simple financial services and subsidizing enterprises.

The monopolist position of special barks and centralized consolidation of resources did not allow to conduct money trading or create money markets. In addition, banks began to introduce artificial defeats from enterprises and the population for ordinary banking services. As a result, credit and monetary resources continued to fulfill a passive role and could not rationally affect the course of economic development.

As positive measures of bank reorganization of 1987, it is possible to establish the ordering of non-cash payments, the termination of lending to losses, superplan inventory stocks of inventories, as well as issuing loans to replenish lost their own working capital, suspension of exemptions of excessive credit funds from economic turnover and replacing their own resources enterprises. As a result of these events, credit resources were released in the amount of more than 75 billion rubles. However, such positive measures were significantly leveled negative consequences bank reform.

As answer to negative consequences bank reform in 1988-1989 Commercial and cooperative banks began to be created mainly on the basis of cash savings of various industries. During the first period of 1988-1989. About 150 commercial and cooperative banks were created. The new bunk structure of the banking system: Gosbank and specialized banks - the first tier, commercial and cooperative banks are the second tier.

In mid-1990, in connection with the announcement by the Government of the Transition program to the market, it became apparent that the banking system needs further reorganization. In particular, the government program noted the need to create an effective bunk banking system consisting of a state bank and commercial banks, which also created 1987 specialized banks were also transformed.

Along with this program, the executive and legislative bodies of the country considered an alternative program of transition to the market - "500 days", which proposed to create a three-core banking system, which in addition to the State Bank and commercial banks complemented by a network of specialized credit and financial institutions in the person of insurance companies, land banks, investment funds. , credit partnerships, pension funds, brokerage and leasing companies. The program "500 days" expanded the number of future capital market subjects by promising the creation of specialized credit institutions, but essentially incorrectly replaced the concept of "credit system" with the concept of "banking system". The first concept is wider than the second, which is limited only by banks. In addition, the program remained the concept of "loan fund", whereas in the conditions of the market it is necessary to replace it with the "capital market".

The concept of the structure of the new credit system almost completely passed into the program of the Union Government "The main directions of development of the national economy and the transition to the market", adopted in the fall of 1990 by the Supreme Council of the USSR. However, a professional error was made here, since under the banking system, in fact, it was implied to create a new credit system.

At the end of 1990, the Supreme Council of the USSR adopted the Law on Gosbank and Banking Activities, which finally established a bunk banking system in the form of a central bank (Gosbank), a savings bank and commercial banks. According to this law, commercial banks received independent status in attracting deposits and credit policies, as well as in determining interest rates. In addition, they were given the right to carry out foreign exchange operations based on licenses issued by the Central Bank.

The 1990 Law has changed the functional activities of the State Bank: In addition to the emission, calculated function, it began to control the activities of commercial banks by establishing mandatory standards for them reserves and storing them on the accounts of the Central Bank. The adoption of the 1990 law contributed to the creation of a wide network of commercial banks in all regions of the country.

Specialized banks were turned into commercial banks. Already in 1988-1989. Separate specialized credit and financial institutions began to occur. As an alternative to two state insurance agencies, the State Store and Ingosstrakh were formed on a commercial basis insurance companies "Centrorevers", "Dalrough", "Asko" and others.

At the same time, several investment companies and banks were created. By 1990, i.e. By the time of the adoption of the "Law on Banks and Banking Activities", a three-tiered credit system begins in the country. By the end of 1991, due to the formation of the Russian Federation as an independent state, a new structure of the credit system is formed, which consists of the following three tiers.

The structure of the credit system of the Russian Federation at the end of 1992 .

1. Central Bank of the Russian Federation;
2. Banking system:
3. commercial banks;
4. savings Bank of the Russian Federation;
5. Specialized non-bank credit institutions:
6. insurance companies;
7. investment funds;
8. others.

The current structure of the credit system of the Russian Federation is approaching the model of the credit system of industrialized countries. But the fact is that the most weak link of the new credit system is the third tier. It is represented mainly by insurance companies, and for the development of other types of specialized credit institutions, the full functioning of the capital market and its second element is a securities market. Creating the latter is possible in conditions of relatively wide privatization of state ownership. This should stimulate the development of the third tier of the credit system.

The new banking system is still difficult and contradictory. By the beginning of 1992, 1414 commercial banks operated in the Russian Federation, of which 767 were created on the basis of former specialized banks and 646 were redefined. The total composite fund amounted to 76.1 billion rubles. However, the main disadvantage of the new banking system is a large number of small banks - 1037, or 73% of the total number of banks, with a statutory fund from 5 to 25 million rubles, while banks with the authorized Fund more than 200 million rubles. There were 24, or 2% of their total.

Therefore, small commercial banks could not effectively organize customer service and guarantee their preservation of their contributions. In addition, the characteristic negative parties of the entire banking system are the lack of qualified personnel; weak material and technical base; lack of competition; Inaccessibility of services for a number of clients due to a high level of interest. 1993-1994 was characterized by a further increase in the number of commercial banks and other credit and financial institutions, which was due to the expansion of privatization, the development of the securities market, further promoting market reforms.

By the end of 1994, about 2400 commercial banks operated in Russia, more than 2 thousand insurance companies, a large number of investment funds (companies), at the same time mortgage banks, non-state pension funds, financial and construction companies, private savings banks and a number of other credit institutions.

At the end of 1994, the structure of the Credit System of Russia differs significantly from 1991-1992.

The structure of the credit system of the Russian Federation at the end of 1994.

1. Central bank;
2. Banking system:
3. commercial banks;
4. savings banks;
5. mortgage banks;
6. Specialized non-bank credit and financial institutions:
7. insurance companies;
8. investment funds;
9. pension funds;
10. financial and construction companies;
11. others.

The new structure of the credit system has become a greater degree to reflect the needs of market economy and increasingly adapt to the process of new economic reforms.

Chapter 2. Modern Credit System and Functioning of the Credit System of the Russian Federation

2.1 Mechanism of the functioning of the credit system

Each stage of the historical and economic development of the national economy corresponds to their type of credit organization, its own structure of the credit system, which meet the relevant needs in the credit and financial services of individual units of the economy. The mechanism of functioning of the credit system is constantly changing under the influence of changes in its Organiza, organizational and legal forms of credit operations, forms and methods of lending and credit-settlement relations.

Modern credit system is a combination of various credit and financial institutions operating in the market of loan capital and carrying out accumulation and mobilization of money capital.

Through the credit system, the essence and functions of the loan are being implemented. Credit is the movement of loan capital, which is given in the loan on the terms of refund for a certain percentage.

Credit performs the following functions: accumulation and mobilization of money capital; Redistribution of money capital; saving costs; acceleration of concentration and centralization of capital; Regulation of the economy.

The market implements two main forms of the loan: commercial and banking. They differ from each other with the composition of participants, object of loans, dynamics, percentage value and functioning.

A commercial loan is provided by one functioning enterprise to another in the form of selling goods with a delay of payment. The weapon of such a loan is a bill paid through a commercial bank. As a rule, the object of a commercial loan is a commodity capital, which serves a circuit of industrial capital, the movement of goods from the sphere of production in the sphere of consumption. The peculiarity of a commercial loan is that loan capital merges here with industrial. The main goal of such a loan is to speed up the process of selling goods and incurred in them. The percentage of a commercial loan, which is included in the price of the goods and the amount of the bill, is usually lower than on a bank loan. The size of a commercial loan is limited to the amount of reserve capital, which have industrial and trading companies.

Bank loan is provided by banks and other credit and financial institutions to legal entities (industrial, transport, trading companies), the population, the state, foreign clients in the form of cash loans.

A bank loan exceeds the borders of a commercial loan in the direction, timing, sizes. It has a wider scope. Significant replacement of a commercial exchange banking makes this loan more elastic, expands its scale, increases security. Various dynamics of banking and commercial loans. Thus, the volume of commercial loan depends on the growth and decline in production and turnover. The demand for a bank loan is mainly determined by the state of debt in various sectors of the economy. However, it is also subject to cyclic fluctuations in the economy. Bank loan is a dual character: it can act as a loan of capital for functioning enterprises, companies or in the form of a loan of money, i.e. As a means of paying debts.

As the development and expansion of the credit system increases growth rates bank credit. Currently, there are several forms of bank loan.

Consumer credit is usually provided by trading companies, banks and specialized credit and financial institutions to acquire goods and installments with installment payments. Usually, with the help of such a loan, long-term goods are implemented (cars, refrigerators, furniture, household appliances). The loan period is 3 years, the percentage is from 10 to 25. The population in industrialized countries spends from 10 to 20% of its annual income to consumer loan coverage. In case of non-payment on it, property is withdrawn by the lender.

Mortgage loan is issued for the purchase or construction of housing, the purchase of land. Provide its banks (except investment) and specialized credit and financial institutions. The loan is also issued by installments.

State credit should be divided into actually state loan and public debt. In the first case, the credit institutions of the state (banks and other credit and financial institutions) lend various sectors of the economy. In the second case, the state borrows funds from banks and other credit and financial institutions in the capital market to finance budget deficit and public debt. At the same time, in addition to credit institutions, government bonds buy population, legal entities, i.e. Various enterprises and companies.

An international loan is both private and public character, reflecting the movement of loan capital in the field of international economic and currency and financial relations.

Roshdomrian credit is maintained as an anachronism in a number of developing countries where the credit system is weakly developed. Usually such a loan is issued by individual faces, changing offices, some banks. The feature of this loan is extremely high percentages (from 30 to 200 and above).

One of the important components of the credit market is the market of interbank loans (MBC). The value of the MBC market is that commercial banks can replenish their credit resources at the expense of other bank resources. Free credit resources traded sustainable commercial banks that always have overwhelming resources. In order for these resources to bring income, banks seek to place them in other borrower banks. In addition to solid, financially sustainable banks, banks in the development stage have free credit resources, as they still have a lack of clientele.

The deadlines for compensation for credit resources are the most different. In international practice, the most common deposits for a period of 1, 3 and 6 months. The IBC rate is usually lower than interest rates on loans provided to workers. The reason for attracting credit resources by the Borrower Bank from other banks is to meet the needs of its customers in borrowed funds, i.e. Expansion of their credit investments, and the need to regulate bank liquidity.

Interbank loans begin to play an increasing role in the formation of resources of commercial banks. However, they have significant disadvantages - the lack of efficiency in the redistribution of funds, limitedness in size and timing. You can liquidate these disadvantages by attracting the resources of the Central Bank as a lender in the last instance Or, as they say, the lender last hand . It is this bank that carries out monetary regulation of the country's economy and, depending on the direction of credit policies, builds its relations with commercial banks. The Central Bank is conducting a policy towards commercial banks aimed at expanding or reducing the volume of credit investments. At the same time, such tools are used as a change in the level of the accounting rate, the size of the minimum requirements for the mandatory reservation of the part of the resources attracted by banks, the volume of operations carried out on the open market. The use of the Central Bank of this or that method of regulation or their totality depends on the degree of development of market relations in a given country.

In 1995, due to the tightening of the CBR credit policy, which is expressed in increasing the accounting rate and increase the norm of mandatory reserves, the demand of commercial banks for additional credit resources in the form of MBK increased. The attractiveness of the IBC also is also associated with the fact that these funds are not taken into account as part of the resources when calculating the amount of mandatory reserves listed by the CBD. For many banks, which have not yet had enough to work out their work on contributing operations with a population or their clientele, the IBC is a significant additional resource, although quite expensive.

The securities market as an integral part of the loan capital market is also essential. The initial form of fictitious capital was bonds of state loans during the period of detaine-cultitic capitalism and free competition . The transformation of capitalism to the state-monopolistic, accompanied by the formation and growth of joint-stock companies, contributed to the emergence of a new type of securities - shares. Now the structure of fictitious capital is consisted of three main elements: shares, private sector bonds and government bonds.

The essence of the loan is manifested in its functions. In turn, the function of the loan is the manifestation of its entity, the expression of the public appointment of the loan.

Credit performs three main functions:

distribution;

emission;

control.

The distribution function is the distribution of funds on a return basis. It is implemented in the process of granting funds to enterprises and organizations on the terms of repayment and payability.

Em session function - Creation of credit tools and cash replacement. It is manifested in the fact that in the lending process, payment means are created, i.e. Along with cash, the turnover includes money in cashless form.

Control function - control over the effectiveness of economic entities. It manifests itself in the comprehensive control of the economic activity of the subject that has received a loan.

Bank lending to legal entities is carried out with strict observance of credit principles, which are the basis, the main element of the lending system. The principles of lending reflect the essence and maintenance of the loan, as well as the requirements of basic laws in the field of credit relations.

Allocate five basic credit principles:

urgency;

repayment;

pay;

differentiation;

security loans.

The urgency of credit means that the loan must be returned in a strictly defined period. The urgency of lending is the necessary condition of the repayment of the loan. A certain amount of lending is a maximum time of finding funds from a borrower. The dilution distortion distorts the essence of the loan, he loses its genuine appointment.

Return means that after the end of the loan term, funds must be returned. Credit as economic category It differs from other categories of commodity-money relations by the fact that the movement of the money here is on the conditions of repayment.

The loan reliability means that the borrower should make the bank a certain fee for the temporary use of funds borrowed from a bank. In practice, this principle is implemented using a banking percentage mechanism. J Bank percentage is a fee received by the creditor from the borrower for using borrowed funds.

The magnitude of the loan interest depends on the following factors:

demand for credit from legal entities and individuals;

rates paid by the bank to their customers on deposit accounts of various types;

loan term, i.e. The higher the loan period, the higher the risk, and therefore, the magnitude of the loan interest;

the degree of availability of the loan, i.e. The lower the presence of a loan, the higher the value of the loan interest;

the level of inflation in the country and the stability of money circulation.

The real magnitude of the loan interest is established in practice, taking into account the set of all the above factors.

Differentiation of lending means that banks should not equally approach the issue of issuing a loan to applying to its receipt to customers. Based on previously conducted work on the assessment of the creditworthiness of the alleged borrowers, the Bank takes out of their number the most reliable and only leads to further work on the conclusion of the loan agreement.

2.2 Modern Credit System

The modern credit system of Russia operates in accordance with two specialized federal laws: the law "On banks and banking activities in the RSFSR" 1990. and the 1990 law. "On the Central Bank of the RSFSR", as well as Civil Code RF and Other regulatory acts.

According to these regulatory acts, a credit institution is a legal entity, which to extract profits as the main goal of its activities on the basis of a special permit (license) of the Central Bank has the right to carry out banking operations.

Modern credit system includes two basic concepts: a set of credit and payment relations, which are based on certain, specific forms and lending methods; A combination of functioning credit and financial institutions (banks, insurance companies, etc.). The first concept is usually associated with the movement of loan capital in the form of various forms of the loan. The second means that the credit system through its numerous institutions accumulates free cash and sends them to enterprises, the population, government.

Modern credit system, which is the main element of the loan capital market, consists of the following main institutional units, or tiers:. Central Bank, state and semi-state banks .. Banking sector:

Commercial banks ,.

Savings banks,

Investment banks,

Mortgage banks,

Specialized trading banks, banker houses .. Insurance sector;

Insurance companies,

Pension funds .. Specialized non-bank credit and financial institutions:

Investment companies

Financial companies

Charitable foundations,

Trust departments of commercial banks,

Savings associations,

Credit unions.

This scheme is typical for most industrialized countries.

The credit system from the point of view of institutional is a complex of monetary and financial institutions actively used by the state in order to regulate the economy. The credit system is mediated the entire mechanism of public reproduction and serves as a powerful factor in the concentration of production and centralization of capital, contributes to the rapid mobilization of free funds and their use in the country's economy.

In Russia, as in most other countries of the world, there is a two-level credit system: the Central Bank - banking institutions and non-bank credit organizations. The Central Bank of the Russian Federation (Bank of Russia, Central Bank, the Central Bank of the Russian Federation) is the issuing center of the country, has a monopoly end of the issue in circulation and withdrawal of cash signs in the form of banknotes and coins. As a bank of banks, it provides centralized loans to commercial banks, is the main banker of the Government of the Russian Federation, performs the functions of the management of gold and foreign exchange reserves, carries out a cash execution of the state budget (primarily the organization through its management and branch offices of budget payments in the regions and on the ground) and so on.

Commercial banks are the basis of the credit system of Russia. Some of them arose on the basis of previously functioning specialized state banks that had a sustainable financial situation and had a branched network of branches (Sberbank, Mosbiznesbank, Promstroybank, etc.), others were created practically "from scratch".

The separated link of the credit system can be considered the Federal Postal Service and the State Corporation "Agency for Restructuring Credit Organizations" (ARKO), whose banking operations are governed by special federal laws.

The Bank is a credit institution that has the exceptional right to exercise the following banking operations in the aggregate: to attract money from individuals and legal entities into deposits, place the specified funds from their own behalf and at their own expense on the terms of repayment, payability, urgency, open and conduct bank accounts individuals and legal entities.

The non-bank credit organization is a credit institution that has the right to carry out separate banking operations. Valid combinations of banking operations for non-bank credit institutions are established by the Central Bank.

The Russian banking system is two-level. At the first level is the Central Bank of Russia, which works mainly with credit institutions, on the second - Russian commercial banks, as well as branches and representative offices of foreign banks.

Modern Commercial Bank is an organization created to attract funds and place them on their own behalf on the terms of repayment, payability and urgency.

The main purpose of the Bank is the mediation in moving funds from creditors to borrowers and from sellers to buyers.

Along with the banks, the transfer of funds in the markets is carried out by other financial institutions: investment funds, insurance companies, stock exchanges, brokerage, dealer firms, etc. But banks as subjects of the financial system have two essential features that distinguish them from all other subjects.

First, the banks are characterized by a double exchange of debt obligations: they place their own debt obligations (deposit and savings certificates, bonds, bills), and the funds mobilized in this way are placed in debt obligations and securities issued by others.

Secondly, banks are distinguished by the adoption of unconditional obligations with a fixed amount of debt to legal entities and individuals. These banks differ from various investment funds that all risks associated with changing the value of their assets and liabilities are distributed among their shareholders.

According to Russian legislation, the bank differs from all other financial intermediaries by the fact that only he has the exceptional right to exercise the following banking operations together:

§ Attracting cash and legal entities into deposits;

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Modern credit system is a combination of various credit and financial institutions operating in the market of loan capital and carrying out accumulation and mobilization of money capital. Through the credit system, the essence and functions of the loan are implemented.

Currently, the structure of the Credit System of the Russian Federation consists of three tiers:

1) Central Bank;

2) banking system:

Commercial banks;

Savings banks;

Mortgage banks;

3) Specialized non-bank credit and financial institutions:

Insurance companies;

Investment funds;

Pension funds;

Financial and construction companies and others.

The new structure of the credit system has become a greater degree to reflect the needs of the market economy and increasingly adapts to the process of new economic reforms.

The main functions of the current credit system:

1. Monetary function carried out by credit institutions (banks). The implementation of this feature is to work with depositors' money, providing loans, providing information and consulting;

2. Regulatory function, carried out by the Central Bank of the Russian Federation, supervision departments. The implementation of this feature is to carry out operations on the "open market", in determining the accounting rate, varying the norm of reserves;

3. The regulatory function is carried out by the Central Bank of the Russian Federation, the Ministry of Finance of the Russian Federation. The implementation of this function is aimed at compliance with the rules of "Games", i.e. legislative and legal framework for the functioning of the banking system, ensuring reliable information on the activities of banks.

The Central Bank of the Russian Federation (Bank of Russia) is the top level of the two-level banking system in the Russian Federation, which consists of a bank of Russia and commercial banks (and other credit institutions). The Bank of Russia controls the activities of credit institutions, issues and recalls their licenses for banking operations, and already credit organizations work with other legal entities and individuals.

The Central Bank of the Russian Federation is independent of the administrative and executive bodies of state power. It can be dissolved and liquidated only by a special legislation. Bank of Russia is economically independent, that is, exercises its expenses at the expense own income. However, the Bank of Russia in conducting monetary policy is not guided by the desire for profits, and the policy of improving the state of the economy as a whole.

The Bank of Russia is the Bank of Banks, it provides loans and accepts deposits only from deposit institutions. It has the right to produce money signs into circulation, which, thereby form a proposal of paper money. Such a function of other banks in the Russian Federation has no.

The Bank of Russia is headed by the Chairman of the Bank and has its own charter. The Chairman is appointed for a period of 5 years.

Management of the Bank of Russia is carried out on a collective basis by the Board of Directors of the Bank. Bank of Russia has a large number of their departments throughout the countries

The Bank of Russia exercises its functions in accordance with the Constitution of the Russian Federation and the Federal Law "On the Central Bank of the Russian Federation (Bank of Russia)" and other federal laws. According to Article 75 of the Constitution of the Russian Federation, the main function of the Bank of Russia is to protect and ensure the sustainability of the ruble, and monetary emission It is carried out exclusively by the Bank of Russia. In accordance with Article 4 of the Federal Law "On the Central Bank of the Russian Federation (Bank of Russia)", the Bank of Russia performs the following functions:

In cooperation with the Government of the Russian Federation, develops and conducts a single monetary policy;

Monopoloily carries out the issuance of cash and organizes cash circulation;

He is a lender of the last instance for credit institutions, organizes the system of their refinancing;

Establishes the rules for making calculations in the Russian Federation;

Establishes the rules for holding banking operations;

Carries out the maintenance of budget accounts of all levels of the budget system of the Russian Federation, unless otherwise established by federal laws, through settlements on the instructions of the authorized executive bodies and state extrabudgetary funds, which are assigned to the organization of the execution and execution of budgets;

Carries out effective management of foreign exchange reserves of the Bank of Russia;

Decides on the state registration of credit institutions, issues licenses to credit organizations to carry out banking operations, suspends their action and recalls them;

Supervises the activities of credit institutions and banking groups;

Registers issuance of securities with credit institutions in accordance with federal laws;

Exercises independently or on behalf of the Government of the Russian Federation, all types of banking operations and other transactions necessary to fulfill the functions of the Bank of Russia;

Organizes and implements currency regulation and currency control in accordance with the legislation of the Russian Federation;

Determines the procedure for making calculations with international organizations, foreign states, as well as legal entities and individuals;

Establishes the rules for accounting and reporting for the banking system of the Russian Federation;

Establishes and publishes official foreign currencies in relation to the ruble;

Takes part in the development of the forecast of the balance of payments of the Russian Federation and organizes the preparation of the balance of payments of the Russian Federation;

Sets the procedure and conditions for the implementation of currency exchanges for the organization of conducting operations for the purchase and sale of foreign currency, sells, suspension and feedback from permits to currency exchanges to the organization of operations for buying and selling foreign currency. (Functions for issuing, suspension and feedback by currency exchanges to the organization of operations for the purchase and sale of foreign currency, the Bank of Russia will carry out from the date of entry into force of the Federal Law on making appropriate amendments to the Federal Law "On the licensing of certain types of activities");

Analyzes and predicting the state of the economy of the Russian Federation as a whole and by regions, first of all monetary, currency and financial relations, publishes relevant materials and statistical data;

Performs other functions in accordance with federal laws.

The main objectives of the Bank of Russia are: protection and ensuring the sustainability of the ruble, including its purchasing power and the course in relation to foreign currencies; development and strengthening of the banking system of the Russian Federation; Ensuring the effective and uninterrupted functioning of the calculation system.

The main tasks of the CBR are the regulation of monetary circulation, carrying out a single monetary policy, protection of interests of investors, banks, supervision of the activities of commercial banks and other credit institutions, the implementation of operations on foreign economic activity.

Thus, the Bank of Russia is in its essence equivalent to the central emission banks of other countries. As its main function, the Bank of Russia forms and implements the state's credit-monetary policy. The range of activities of the Bank of Russia is very wide: from the action as an agent of the state and management of banking holding-companies to ensure the required amount of money.

Problems of development of the credit system of Russia.

In the near decade, Russia should provide high rates of economic growth, which will significantly increase the standard of living of the population. Low inflation is the basis for ensuring the sustainability of the ruble, the formation of positive expectations of economic agents, reduce risks and, accordingly, adopting informed decisions on savings, investments and consumer spending. Therefore, a credit policy aimed at a sustainable decline in inflation makes a significant contribution to strengthening the potential of economic growth and modernization of the structure of the economy. Thus should be stopped on some monetary policy issues in more detail. So:

1. Currently, Russia as a country with an open and insufficiently diversified economy, highly dependent on the external economic and financial situation, does not have the ability to move to the regime of a free floating exchange rate of the ruble. On the channels of the current account of the balance of payments, the proposal of foreign currency sustainably exceeds demand. The account of operations with capital and financial instruments is unstable both in terms of volumes and in the direction of financial flows. In such conditions, as many countries, the practice of a managed floating exchange rate is needed, primarily in order to eliminate sharp fluctuations in the national currency exchange rate.

2. Currently, the Russian economy in the context of transboundary capital flows is largely reacting to changes in foreign interest rates. In this regard, the Bank of Russia is forced during the percentage and monetary policies Consider the difference between interest rates within the country and abroad. In conditions where the monetary proposal is formed mainly through the acquisition by the Bank of Russia foreign currency in the foreign exchange market, the role of interest rates as an active credit policy tool is limited. Nevertheless, conditions are currently being formed to increase the role of interest rates when conducting credit policies. In the coming period in the face of the functioning of the Stabilization Fund of the Russian Federation, which ensures the sterilization of redundant liquidity in the economy, in addition to the long-term stability of the state budget, the Bank of Russia will expand the scope of refinancing of credit institutions as necessary.

3. In recent years, there has been a weakening of the short-term relationship between monetary aggregates and consumer price index. Therefore, the boundaries of the growth of money supply are not rigidly given and deviating the dynamics of the money supply from the settlement trajectory do not imply an immediate adjustment of the Bank of Russia's policy. Nevertheless, the characteristics of the money supply remain an important guideline to evaluate both current monetary conditions and inflation expectations and determining the medium-term trend of inflation. This approach is implemented through the preparation of the Bank of Russia's monetary program and the subsequent monitoring of its indicators.

4. The dependence of the Russian economy from foreign economic conjuncture and the continuation of structural transformations in the economy makes the necessary support for the Bank of Russia's credit policy actions of the Government of the Russian Federation in the field of budgetary, tax, tariff, structural and social policy. In this regard, measures to form the Stabilization Fund of the Russian Federation, restricting the growth of regulated prices, tariff and non-tariff regulation of the foreign economic sphere, carried out by the Government of the Russian Federation, are an important part of the anti-inflation policy in Russia.

At the same time, the process of becoming a credit system revealed certain problems and disadvantages in all its structural links. The main one can attribute the following:

Small commercial banks continue to exist, which due to a weak financial base can not cope with customer needs;

The main problem of the mortgage system in Russia lies in the undevelopability of the housing market and non-compliance of housing prices by the average level of income of the population;

Lack of real conditions for the development of the corporate securities market as a basis for the functioning of investment banks;

The lack of a real legislative framework for regulating the market of specialized non-bank institutions.

All these problems significantly inhibit the development of the Russian credit system in its early approximation to the state of credit systems of industrialized countries.

Prospects for the development of the credit system of Russia

Exceptional importance for the successful development of the Russian credit system has the establishment of adequate needs of economic growth in the interaction of banks with the real sector.

Commercial banks, on the one hand, are interested in lending to the real sector. This is classic bank operation with well-studied risks. But on the other hand, there are two significant problems associated with the insufficient security of banks in the relationship of the lender - the borrower and short-term liabilities. Banks cannot expand crediting, because the state does not protect their interests in the event of problems with returning loans.

An even more difficult problem is to activate the investment activities of banks. While in the economy, monetary surrogates, barter, non-payment, banking system can not actively implement investment activities. The country has not yet matured the conditions for long-term savings and no commercial bank will not go to the risks of long investment without government guarantees.

Apparently, the structure of the domestic credit system in terms of the prevalence of bank institutions will not undergo changes.

As part of the adoption of strategic decisions, the Government and the Bank of Russia have not proposed anything fundamentally new, which could somehow significantly change the established configuration of the domestic credit system. So-called "Program of Gref" - the program of socio-economic development of the country until 2010 - does not contain any cardinal measures that can really radically improve the current credit system. This program offers normative measures (strengthening oversight, accelerating the elimination of insolvent credit institutions, a change in the types of issued licenses, etc.), which are so carried out by the Bank of Russia, although quite slowly.

It is characteristic that a number of measures proposed by the government, aimed, first of all, to raise the capitalization of the banking system and the development of new technologies. Among them, we note first of all awareness of the need to equate the taxation of banks to the taxation of enterprises (both at the rates and in terms of costs), as well as the creation of a full-fledged legislative framework for electronic documents in Russia.

The national interests of the country require the formation of an independent, sustainable credit system. It is with national priorities that a policy with regard to banks involving foreign capital. The thesis that the wide admission of these credit institutions on russian market Banking services will strengthen competition and, accordingly, will accelerate the effective development of the industry is not entirely corrected. It is unlikely possible in this case to talk about equal competition, as not specific banks will compete, but the stability and stability of a western country with instability and changes in Russia. In this regard, it is necessary to weighively approach the activities of foreign credit institutions.