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

Chapter I. Theoretical Fundamentals financial risks Bank ........ ............. ... 5

1.1. The concept and essence of bank financial risks ......... .... ...... ... ... 5

1.2. Types of bank financial risks .........................................8

Chapter II. Analysis and assessment of the financial risks of the bank ................... ......... 12

2.1. Types of financial risk analysis ..............................................12

2.2.Basel II - a set of standards for assessing the financial risks of banks ..........13

Chapter III. Bank financial risks on the example

CJSC "TranscapitalBank" ............................................ .............. 19

3.1. Bank risk management policy in CJSC TKB ...... ..... ... ..19

3.2. Management of credit risk in the bank "TranscapitalBank" ... .. ...... 22

3.3. Analysis of assets and liabilities of CJSC TranscapitalBank ............. ...... ..24

Conclusion ...................................................................... ... .... ... 29

List of references ............................................................ .... ...... 30

Introduction

Commercial banks are an integral part The financial system, one of the most important functions of which is the provision of financial resources of the reproduction process. The banking system is a kind of mediator between the owners of temporarily free financial resources and economic entities experiencing a shortage in them, and therefore the peculiarity of banking activities is the work mainly with the funds attracted funds that include funds and individuals, as well as borrowing on interbank financial markets. This activity is associated both with the possibility of their loss and increase, ultimately, with risks. Risks, co-commercial organizations of the Organization, stand out in a special group of risks that are called financial rice. Financial risks play the most significant role in the general portfolio of the entrepreneurial risks of any commercial organization and financial and credit institutions, in particular. The increase in the degree of influence of financial risks on the results of the financial activity of the credit organization is associated with the rapid variability of the economic situation and the conjunct-tours of the financial market, the expansion of the scope of financial relations of organizations, the emergence of new financial technology and tools and other factors for Russian companies.

Practice and methodology for monitoring and managing bank risks is the most critical for banking. Successful risk management is the most important condition for the competitiveness and reliability of any financial organization. As numerous examples show, the most significant types of risk (credit, investment, currency) can lead not only to a serious deterioration in the financial condition of the credit institution, but also in the limiting case - to capital loss and bankruptcy. Proper assessment and management allow you to significantly minimize losses. The main task of the risk management of the bank is to identify and prevent possible adverse events, finding ways to minimize their consequences, creating management methodologies.

This course of work was chosen by me because of the great relevance of the issue of assessment, identifying and managing financial risks for commercial banks at the moment of time, since to successfully overcome the global financial crisis, most Russian banks need to review, tighten and make significant changes to the existing Risk management system.

The purpose of this work is to consider the essence, the main types of bank financial risks and the principles of their classification as a basis for opportunities and ways to minimize them.

Questions of bank risk management strategies go beyond this work.

ChapterI.. Theoretical Basics of Bank Financial Risks

1.1. The concept and essence of banking financial risks

As an economic category, the risk is an event that may occur or not happen. In the case of such an event, three economic results are possible: negative (loss, damage, loss); null; Positive (win, benefit, profit).

To clarify the essence of financial risks in a commercial bank, it is necessary to define such concepts as "financial risks" and " bank risks».

In any economic activity there is always a danger of monetary losses arising from the specifics of certain economic operations. The danger of such losses is financial risks. Financial risks are commercial risks. All risks are divided into clean and speculative. Pure risks mean the possibility of obtaining a loss or zero result. Speculative risks are expressed in the possibility of obtaining both positive and negative results. Therefore, financial risks refer to speculative risks.

In various sources, the following definitions are presented in its essence: "Financial risk - risk arising from financial entrepreneurship or financial transactions based on the fact that financial entrepreneurship The role of the goods are either a currency or securities or cash. "

Balabanov I.T. It gives the following interpretation to this concept: "Financial risk is a speculative risk in the financial and credit and exchange spheres. Financial risks include credit risk, interest, currency risks, the risk of missed financial benefits. "

In other sources you can find the following definition: "The financial risk is the risk that the issuer's cash flows will be not sufficient to fulfill it financial obligations. Also called additional risk (Additional Risk), which is subject to shareholders of a company using borrowed funds and equity capital. "

In general, under financial risks should be understood on the one hand, the risk of potentially possible, likely loss of resources, reducing income, reducing the profits due to any factors of internal and external nature (including incorrect actions or lack of actions) affecting the conditions and results of activities The economic entity, on the other hand, is the probability of obtaining an additional amount of risk associated.

Financial risks have an objective basis due to the uncertainty of the external environment in relation to the credit institution. The external environment includes objective economic, social and political conditions, within which the FIR carries out its activities and the dynamics of which it is forced to adapt. The uncertainty of the external environment is predetermined by the fact that it depends on the set of changed, counterparties and persons whose behavior can not always be predicted with acceptable accuracy. Thus, the objectivity of financial risks is associated with the presence of factors, the existence of which in the final account does not depend on activities commercial Bank. On the other hand, financial risks have a subjective basis, since they are always implemented through humans and are fully determined by the managerial decision.

In the course of its activities, commercial banks are subject to multiple risks. The central place in the organization of internal control in the commercial bank is covered by banking risks.

Lavrushushin O.I. The following interpretation of risks in the activities of credit institutions: "Risk in banking is understood as the possibility of loss of liquidity, as well as financial losses (losses). The main purpose of internal risk control is to limit the risks taken by credit institutions, by performing specific control procedures for compliance with the requirements of legislation, regulatory acts of the Bank of Russia, standards professional activity and rules of business customs. "

In accordance with the foregoing in relation to the activities of commercial banks, financial risk – this is a probabilistic characteristic of an event, which in a long run can lead to losses, non-receipt of income, lacking or receiving additional income, as a result of the conscious actions of the credit institution under the influence of external and internal development factors in the conditions of the uncertainty of the economic environment. The main risk management of banks is not the issue of risk assumptions in its negative form, and the development and application of such financial risk management methods that will lead to additional income. The risk management uses the latest developments of other sciences, thereby accelerating public progress and influence all aspects of socio-economic life.

1.2. Types of bank financial risks

Financial risks arise in connection with the movement of financing flows and are characterized by a large manifold. Risk classification is quite wide. Causes of financial risk - inflation factors, growth of bank accounting rates, cost reduction valuable papers and etc.

All financial risks of a commercial bank are divided into two types:

1) risks associated with the purchasing power of money;

2) Risks associated with the investment of capital (investment risks).

The risks associated with the purchasing power of money are from the following risks: inflation and de-flax risks, currency risks, liquidity risk.

Inflation risk -this is the risk that when increasing inflation, the resulting money incomes are depreciated from the point of view of re-alleged purchasing power faster than growing. In such conditions, a commercial bank carries real losses.

Deflation risk- This is the risk that with the growth of deflations there is a drop in price level, deterioration of economic conditions of entrepreneurship in general, and credit institutions in particular, and decline.

Currency risksthere are a danger of currency in terms associated with a change in one foreign currency exchange rate with respect to the other in conducting foreign economic, credit and other currency transactions.

Liquidity risks -these are the risks associated with the possibility of terrain in the implementation of securities or other goods due to the measurement of their quality and consumer value assessment.

Investment risks include the following subspecies of risks:

1) the risk of missed benefits;

2) the risk of reducing profitability;

3) Risk of direct financial losses.

Risk of missed benefits -this is the risk of an indirect (after-side) financial damage (incomplete profit) in the results of the failure of any event (for example, suffering, hedging, etc.).

Risk of reducing returnsit may arise as a result of a decrease in the amount of interest and dividends on portfolio investments, deposits and loans.

Portfolio investments are associated with the formation of an investment portfolio and are the acquisition of securities and other assets. The term "portfolio" comes from the Italian "Porte Foglio" in the meaning of the set of valuable bu-magazine, which are available from.

The risk of a decrease in yield includes the following different-visions:

· Percentage risks;

· Credit risks.

TO percentage risksthe risk of losses of commercial banks, credit institutions, investment institutions as a result of exceeding interest rates paid by them on attracted media over the rates on loans provided.

The growth of the market rate of interest leads to a decrease in the course value of securities, especially the bonds with a fixed percentage. With an increase in the percentage, the MAS-owl reset of securities issued for lower fixed interest may begin and, according to the production conditions, early at the bottom of the reverse. Investor invested in medium-term and long-term valuable BU magazes with a fixed percentage at the current increase in the medium-term percentage in comparison with a fixed level. In other words, the investor could get an increase in income by increasing the percentage, but cannot release its middle-wow, embedded on the above conditions.

Interest risk also carries the issuer issuing medium-term and long-term securities with a fixed percentage at the current lowering of the average percentage in comparison with a fixed level. In other words, the Issuer could attract funds from the market at a lower percentage, but he is already connected by the release of securities.

This type of risk with the rapid growth of interest rates in terms of inflation is important for short-term papers.

The greatest weight in the cumulative risks of the bank is credit risk(Fig. 1), under which the risk of non-payment of the borrower of the principal debt and interest due to the creditor is understood. K. Credit Rice-KU also includes the risk of such an event in which the issuer that issued debt securities will not be able to pay interest on them or the main amount of debt.

Fig.1. The proportion of credit risk in the total risk of bank.

Credit risk may also be a variety of risks of direct financial losses.

Risks of direct financial lossesinclude the following varieties:

· Birzh risk;

· Selective risk;

· Risk of bankrupt -

· Credit risk.

Stock risksrepresent a risk of losses from bir-zhevy transactions. These risks include: the risk of non-payment for commercial transactions, the risk of non-payment of the commission of the company, etc.

Selective risks(from lat. Selectio - choice, selection) - these are the risks of improper selection of the method of capital, the type of securities to invest in comparison with other types of securities in the formation of an investment portfolio.

Risk of bankruptcyit is a danger as a result of the improper choice of the method of investment of capital, the full fee of the credit organization of equity and the inability to be calculated on the obligations assumed. In the sum of this, the commercial bank becomes bankrupt.

ChapterII.. Analysis and assessment of the financial risks of the bank

2.1. Types of financial risk analysis

The risk management process begins with the analysis, the purpose of which consists in obtaining the necessary information about the structure, properties of the object and the available risks. Analysis of financial risks is divided into two mutually complementary species:

1) Qualitative analysis - determination of risk factors and circumstances leading to risky situations.

Qualitative analysis suggests:

· Identification (establishment) of all possible risks;

· Identification of sources and causes of risk;

· Detection of practical benefits and possible negative consequences that may occur when implementing the risk solution.

In the process of high-quality analysis, it is important to both the full detection and identification of all possible risks and the identification of possible losses of resources that accompany the onset of risky events.

2) Quantitative analysis involves a numerical risk assessment, which is carried out using linear programming methods, mathematical statistics and probability theory, which makes it possible to anticipate the occurrence of an adverse situation and, if possible, reduce its negative impact. Quantitative assessment of the probability of occurrence of individual risks and what they can do is to allocate the most likely due to the occurrence and weighty risk losses.

2.2. BaselII. - Code of Standards Evaluation of Financial Risk of Banks

The idea of \u200b\u200bchanging the principles of banking regulation and oversight arose in the 70s of the XX century, when it became clear that the banking supervisory tools acting at that time were the deposit insurance system and the direct intervention of the supervisory authorities into the interest and credit policy of banks - not able to restrain Threats of financial stability in the conditions of the changing rules of the game in the financial markets. The growth of financial innovations, the rapid development of the latest technologies, computerization of banking business, the forced liberalization of capital movement led to an increase in the dependence of banking systems from "external shocks". Banking sector Began to accept additional risks. At the same time, the supervisory authorities simply did not have time for their identification and, accordingly, could not adequately assess and adopt the necessary neutralizing measures. In addition, in the context of globalization, financial shocks in one country will inevitably provide their negative impact to other countries. In this regard, there was an idea of \u200b\u200bcreating a global security system, i.e. Unified principles in the organization of banking regulation and supervision. To this end, the Basel Committee on Banking Supervision in 2004 adopted a set of standards for assessing the risks of financial institutions and the organization of banking supervision, widely known as the New Basel Agreement on Capital, or Basel II.

Basel II is a detailed document, formalizing requirements for the three main "pillars" of regulation: minimal amount of banking capital, banking supervisory organization and market discipline. At the same time, three types of risk are considered, which is carried out by capital reservation: market, credit and operational, to evaluate each of which are offered "menus" of alternative approaches. National supervisory authorities are not limited to the choice and combination of approaches, as well as the establishment of deadlines, which in most cases are predetermined by the degree of readiness of the National Banking System to apply the provisions of Basel II.

According to the Basel Committee itself, the agreement is not a panacea from local and system banking crises, and its authentic importance will be realized only after the beginning of a wide and uniform application. At the same time, the document changes the role of supervision and his philosophy itself, shifts the emphasis of its activities: from the formal implementation of quantitative standards for understanding the essence of risks, knowledge of the assessment methodology and management.

The control over the risks of commercial banks in accordance with Basel II should be carried out by the supervisory body based on the individual assessment of capital adequacy, taking into account the specific nature of the risks of each bank, the reliability and adequacy of the construction and operation of intrabank assessment systems, monitoring, risk management, the nature and volumes of the risks taken by the Bank, as well as management quality. Based on the listed factors, a meaningful (professional) judgment about the required minimum capital adequacy, taking into account all the substantive risks taken by this Bank, and not only the credit and market, as was customary in the previous concept of banking supervision reflected in Basel I .

Bassel II main objectives:

· Strengthening of bank orientation when reserving equity on actual risks;

· Improving the internal risk management of banks, especially through the creation of incentives for the transition to further methods for measuring risks for control purposes;

· Improving the conditions of international competition through the introduction of unified global bank control rules;

· Creating rules that can be applied by banks of various levels of complexity and sizes.

Structurally Basel II is divided into three parts - three components.

First component - The most significant part of the document is devoted directly to the methods of calculating credit risk and offers two approaches to the calculation of credit risk.

Standardized approach is based on weighing the value of credit requirements for the coefficient assigned to a particular borrower, depending on the external credit rating, that is, rating determined by one or another international rating agency (Standard & Poor's and the like). Compared to Basel I, the reservation is the orientation in assessing the risk of external ratings, as one of the most objective indicators of the activities of a bank (enterprise). Also a new is a more flexible accounting system when calculating credit risk.

As part of the standardized approach, Basel II also involves a more flexible accounting system when calculating credit risk. The so-called "mitigation technique" of credit risk implies not only an assessment of the quality of the provision, which is also provided for by the requirements of Basel I, but also the ability to adjust the credit requirements depending on the financial condition of the person who provided the appropriate provision.

The second approach, which is the most significant change compared to Basel I, consists in the fundamental admission of internal ratings to the definition of the creditworthiness of borrowers (the IRB Approach IRB Approach approach). From the point of view of measurement of credit risk, the IRB approach is a mathematical model, which takes into account four factors: the probability of a counterparty default (PD); Specific losslessness with a counterparty default (LGD); The absolute amount of losses in default (EAD) and the residual term of the loan or circulation of debt securities (M). With the use of these indicators, the so-called expected (EL) and unexpected (UL) losses are determined, the value of which is included in the calculation of capital adequacy.

Second component Basel II determines the basic principles and recommendations on the organization of the risk management system in credit institutions and the requirements for the supervisory process. It addresses issues of transparency and reporting before bank supervision, including proposals concerning the interpretation of interest risk in the banking portfolio, credit risk (stress testing, default default, residual risk and risk of concentration of loans), operational risk, as well as securitization.

Third component Basel II is the so-called market discipline. This component complements the previous two, formulating a set of information disclosure requirements that will allow market participants to assess the data on the main areas of activity, capital exposure, risk assessment processes and, therefore, the adequacy of the borrowing capital.

The Basel Committee advocates the active introduction of a risk assessment method based on domestic ratings (models), which is more complex, but more sensitive to risks by the method. At the same time, he admits that many banks will not be able to apply it to all directions of their activities, therefore it provides the right to banks to combine approaches, i.e. Provides some transitional period. For example, credit institutions can apply an improved approach (IRB) to a specific class of assets, and by other classes - a standardized approach. However, gradually the IRB approach should be distributed to all classes of assets in accordance with the transition plan provided by banks to the supervisory body at mandatory.

Most Russian experts agree that the consequence of the implementation of Basel II in Russian organizations will lead to an increase in their competitiveness. Banks will be able to effectively manage their risks, will receive more complete information, timeliness and qualitative risks information and will be able to more accurate the risk ratios and profitability. Improving risk management efficiency will lead to an increase in system efficiency. information security. In addition, the implementation of Basel II requirements will lead to an increase in the company's attractiveness for investors and partners, as well as to increase the company's market price.

One of the unresolved problems is the production of Basel II. Thus, during periods of economic lifting, it will obviously, a decrease in capital will occur, since the alleged credit risk decreases and the quality of the protection provider and / or security increases. In this case, the reduction of regulatory capital entails an increase in the volume of lending suggested, which gives a transcixing impulse. With an economic downturn, credit risk increases, the quality of protection is reduced, regulatory capital increases, as a result of which credit failure may occur precisely when the productive activity is already slowing down and the financial resources should be influenced.

However, despite the fact that the new Basel Agreement is not a complete document and work on improving and entering clarity into some of its aspects continues, the introduction of Basel II is in full swing and its positive impact on the quality of bank supervision is already obvious. As shown by world experience, improving the efficiency of supervisory activity can significantly mitigate the consequences of the global financial crisis on the country's economy.

As you know, the Bank of Russia also supported the Basel principles of the organization of banking regulation and supervision and modern international approaches to risk assessment, making their intentions to introduce them as soon as they were adopted - in June 2004, the option was elected and the deadlines for the introduction of standards were elected. 2008-2009 However, despite the fact that the term of administration actually occurred, the problems of the readiness of the supervision and banking system of Russia to the practical application of modern international risk assessment standards have not yet been resolved. Among them, the issues of organizing standards in Russian banking practices are of particular importance.

ChapterIII. Bank financial risks on the example

CJSC "Transcapitalbank"

3.1. Bank risk management policy in TKB CJSC

The presence of a policy of risks, regulations and risk management procedures is prerequisite His financial stability. The formation of the optimal structure of assets, the quality of capital capital and ensuring the maximum preservation of capital, on which the financial sustainability of the Bank is only possible on the basis of minimizing those risks that play a significant role in the bank's business.

I was considered and analyzed by the Risk Management Policy adopted at the TranscapitalBank Commercial Bank (CJSC TKB).

In the course of the study, it was revealed that a special "Risk Management Declaration in TKB (CJSC)" was developed, which contains basic provisions regarding risk policies to the Bank. In this declaration, it was noted that risk management and their minimization (risk management) are traditionally prioritized in the activities of CJSC TKB. The main approach to minimizing bank risks is to determine their quantitative parameters and the development of risk management methods. The Board of Directors of the Bank adopted a "risk management strategy" and approved the "Banking Risk Management Policy".

The "risk management strategy" is based on the principle of break-even activity and is aimed at ensuring the optimal relationship between the profitability and the level of risks assumed by the Bank "TKB". The following basic principles are used in the implementation of "Risk Management Strategy":

· The bank does not risk if there is such an opportunity;

· The bank does not risk more than equal capital can afford;

· The bank's management is thinking about the consequences of risk and does not risk many for the sake of small;

· The bank does not create risky situations for the sake of over-profile;

· The bank keeps risks under control;

· The bank distributes risks among customers and participants and by type of activity (diversifies risks);

· The bank creates the necessary reserves to cover the risks;

· The Bank establishes constant observation of risks.

· The bank in its activity chooses from possible options for the risk investment of capital that option in which:

1) will receive the greatest effectiveness of the result (winnings, income, profit) with a minimum or acceptable level of risk (maximum maximum rule);

2) The probability of the result is acceptable to the investor (the rule of optimal probability of result).

The strategic goal of the TKB Bank is the ratio of profitability / risk. A traditional approach to risk management is based on the implementation of the regulatory requirements of the Bank of Russia. To ensure the high growth rates of the Bank's development, consideration of risks in a bunch with a profitability in accordance with the tasks delivered by shareholders.

Risk management in the bank is one of the directions of financial management.

The goal of the risk management bank policy is to organize a clear process for efficient risk management by establishing boundaries, limit parameters for each type of risk. In the conditions of the tendency to reduce the profitability of most financial instruments and, as a result, reducing profitability, risk control is one of the main sources of maintaining the bank profitability at the proper level. Effective way Risk minimization is their regulation by establishing limits. In accordance with the "risk appetite" (Risk-Appetite), the main risk limits are established by the transcapitalbank, and all major assets and liability management decisions are analyzed for a possible violation of the established limits. The main task of the system establishment of limits is to ensure the formation of the structure of assets and liabilities of the bank, adequate to the nature and scale of its business.

Identification, analysis, assessment and development of banking risk management methods is carried out by an independent structural division of the Bank "TKB" - a risk-division. Risk management is not only a risk manager function, it is also integrated into all bank business processes. Responsibility for the implementation of a specific risk event carries a division initiating and implementing the acquisition of assets. The task of risk - divisions is to limit the total possible loss of the bank and the implementation of the procedures for reducing arising risks.

When managing bank risks, the Bank of Russia, the Basel Committee on Banking Supervision and Regulation (Basel II), as well as the requirements of the European Bank for Reconstruction and Development (EBRD) are taken into account.

CJSC "TranscapitalBank" defines the following approaches applied to the assessment of various types of risks, when calculating capital adequacy in accordance with the recommendations of the Basel Committee (Basel-2) (Fig. 2):

View of risk	Method of calculation
Credit risk	Standardized approach
Market risk	Standardized approach
Operational risk	Basic indicative approach

Fig.2. Approaches used by CJSC TKB to assess various types of risks.

3.2. Credit Risk Management in Transcapital Bank Bank

The "Risk Management Declarations in TKB" recorded that the Bank seeks to minimize credit risk in its activities, which involves taking measures to maintain risk at the level that does not threaten the interests of creditors and depositors, the sustainability of the bank. The most important issue for the bank is the assessment and regulation of the riskiness of the loan portfolio, as one of the main directions of the effective credit management of the TranscapitalBank, and the main goal of the credit portfolio management process is to ensure maximum yield at a certain level of risk.

Credit operations, becoming a priority area of \u200b\u200bthe Bank's activities, are one of the most risky, therefore assessment of credit operations risks is the most important part of the analysis of the financial sustainability of the Bank. CJSC TKB adheres to conservative credit policies, trying to completely cover their risks. The Bank provides loan products to borrowers only after a detailed assessment of all possible risks associated with the activities of these borrowers. The bank diversify a loan portfolio for risk groups. The structure of the Bank's loan portfolio in terms of placing funds is balanced with the timing of attracting funds on passive operations.

Bank avoids lending to borrowers in the case of:

· High level risks of credit operations;

· Bad financial position of the borrower;

· Dysfunction of the borrower;

· Lack of sources of return of credit funds;

The exception can be allowed for high-yield operations, the risk on which is minimized by liquid support or the presence of a stable borrower credit history. The decision on such loans takes a loan committee in each individual case.

Practice shows that the creation of a system for assessing the financial condition of borrowers (counterparties) and the establishment of limits to various banking operations is the most important condition for the competitiveness of the transcapital bank in the market. The presence of such a system not only allows you to protect CJSC TKB from losses, but also serves as a basis for normal conducting all active operations, contributes to the growth of bank revenues and the expansion of reliable counterparties.

The basic principles for which the Bank's loan portfolio is formed is the principle of diversifying the loan portfolio by type of economic activity (segments of the economy) and regional diversification.

The main methods of credit risk management in the transcapitalbank are:

· Evaluation of the financial condition of borrowers, issuers of securities and counterparty banks, further monitoring their financial condition;

· Reservation;

· Limit;

· Diversification of the loan and investment portfolio of the Bank;

· Control over loans issued earlier;

· Monitoring of the state of collateral;

· Remuneration of employee powers;

· Establishing limit values \u200b\u200bof mandatory standards in accordance with the current legislation and internal provisions of the Bank.

To minimize credit risk in the interbank lending market (MBC) - counterparty risk (Counterparty Risk) and securities market (RCB), the risk of counterparty banks and issuers of securities are analyzed in order to establish relevant limits. These limits are approved by the limit committee.

3.3. Analysis of assets and liabilities of CJSC TranscapitalBank

In order to make sure that the risk management policies conducted by CJSC "TKB" are analyzed by me, I was analyzed by the structure and dynamics of the Bank's assets and liabilities for the period from 2009 to 2010.

As a result of studying the dynamics of transcapital bank assets, it was found that for 2009. A bank extension has occurred as a total volume of active operations by 5.68% and an increase in almost every article by TKB assets (Table 1). This dynamics is positive and indicates an expansion by the Bank of its activities. Separately note growth money 32.85% in 2009 and by 0.5% of their share in total assets, since it is this category of assets that is the most important part of the Bank's liquid assets, and an increase in this article indicates the improvement of the current liquidity of the Bank.

Assets of CJSC "TranscapitalBank"
	01.01.2009	01.01.2010	Specific weight in aggregate assets,%
Cash
In the Central Bank of the Russian Federation
Mandatory reserves
Clean loan debt
Other assets

For a more visible representation of the growth of TKB assets, their absolute change in 2009 was calculated. and the growth rate of the bank's assets for the period from 01/01/2009. On 01/01/2010, which confirms the effective functioning of the transcapitalbank and the effectiveness of the financial risk management policies to them (Table 2).

Dynamics of Assets "TranscapitalBank" for 2009
	Absolute change thousand roubles.	Rate of increase,
Cash
Mandatory reserves
Funds in credit institutions
Clean investments in securities, estimated at fair value through profit or loss.
Clean loan debt
Clean investments in securities and other financial assets available for sale
Investments in subsidiaries and dependent organizations
Fixed assets, NMA and material reserves
Other assets

Since the largest share in the assets of the transcapitalbank occupies a clean loan debt (about 70%), the quality of the bank's assets can be assessed on the basis of the quality of the credit portfolio of CJSC TKB.

Determining the risk level of the bank's loan portfolio, as well as the quality of the loan portfolio from the risk position, is made using certain coefficients. The most clearly determining the quality of the loan portfolio from the credit risk is the risk coefficient of the loan portfolio. It is defined as follows:

where, kV - a set of credit investments of the bank (all loan and equivalent to it);

PRP - predicted bank losses (predicted bank losses at the reporting date are defined as a cumulative amount of reserves for possible losses on loans, loan and equal debt.

The closer the value of the risk coefficient of the loan portfolio to 1, the better the quality of the loan portfolio from the point of view of the return (recovery) of the loans issued. In practice, the acceptable value of the risk coefficient of the loan portfolio for the bank is not less than 0.6-0.7 (60-70%).

In our case, the risk coefficient of the credit portfolio of the TranscapitalBank is:

On 01/01/2009: \u003d 0,979

On 01/01/2010: \u003d 0.934

This suggests that the TKB loan portfolio is formed at the expense of "improved quality" loans (standard and non-standard loans). However, for the period from 2009. in 2010 There is a decrease in the Kyrgyz Republic, which indicates a minor deterioration in the quality of the Bank's loan portfolio and to increase the risk of non-return of issued loans, which is a consequence of the global financial crisis.

It should be noted that the positive dynamics of the assets of the transcapitalbank contributed to the increase in the position of the bank in the Ranking "Banks of Russia. Main performance indicators "published by Interfax-100 Agency. So, in the first quarter of 2009. Bank held 62nd in terms of assets among Russian banks, and for the date of 2010. Transcapitalbank has already been awarded the 54th place, which confirms the effective work of the Bank in the field of financial risk management.

To determine the effectiveness of the management of financial risks "TKB", I was analyzed by the dynamics of liabilities for 2009-2010 (Table 3), the pace of their growth was calculated. As a result, it was found that for 2009. Cumulative liabilities "TKB" were increased by 3,663,328 thousand rubles. (5.53%). A decrease in funds of credit institutions, as well as loans, deposits and other funds of the Central Bank of the Russian Federation, was noted. For the rest of the liabilities, there is a stable growth, which is a positive dynamics in the activities of the transcapitalbank.

Passives ZAO "Transcapitalbank"
	01.01.2009	01.01.2010	Specific weight in cumulative liabilities,%
Credits, deposits and other funds of the Central Bank of the Russian Federation
Funds of credit institutions
Deposits of Fiz.litz
Other obligations
Equity

It should be noted that the period under study there was a decrease in reserves for possible losses on conditional obligations Credit nature by 14.88%, which indicates a reduction in risk in the Bank's activities (Table 4).

Dynamics of transcapitalbank liabilities for 2009.
	Absolute change, thousand rubles.	Practice rate,%
Credits, deposits and pr. hostage of the Central Bank of the Russian Federation
Funds of credit institutions
Tools of customers (non-credit organizations)
Deposits of Fiz.litz
Issued debt obligations
Other obligations
Reserves for possible losses on limited liabilities of a credit nature, other possible losses and operations with residents of offshore zones
Equity

In our case, the growth of own funds of the Bank is due to an increase in the volume of equity with higher rates than the balance currency. This circumstance indicates an increase in the financial stability of the transcapitalbank, because The bank increases the volume of attracted capital, but on the basis of an advance increase in equity.

Rating agency "Expert RA" confirmed the credit rating of the Akb "Transcapitalbank" at the level A + "very high level of creditworthiness". A positive on the rating assessment reflected an increase in the authorized capital of Transcapitalbank at the end of 2009 by more than 20% and high indicators of loans (the ratio of the provision, taking into account the guarantees to issued loans, was 395% on 01.10.2009). The competent policy of "TKB" on risk management is confirmed by the Bank received in 2009 net profit in the amount of 203,484 thousand rubles. Even in the context of the global financial crisis.

Conclusion

In this paper, the basic interpretations of the concept of "financial risks of the Bank" were presented and compared, features and forms of the manifestation of this risk category are considered.

When writing this work, it was revealed that banks in their activities are faced not with one specific risk, but with the entire set of different types of risk, differing among themselves at the place and time of occurrence, their influence on the Bank's activities, and consider them (risks) aggregate. A change in one type of risk causes changes in almost all other species. All this, of course, makes it difficult to choose a method for analyzing the level of specific risk and the decision to optimize it leads to an in-depth analysis of many other risk factors.

In the practical part of the work, the financial risk management system existing in CJSC Transcapital-Bank was analyzed, and its effectiveness was confirmed on the basis of an assessment of the current position of the Bank in the market, as well as the analysis of the structure and dynamics of its assets and liabilities.

Based on the foregoing, it can be concluded that the key to success sustainable development Bank is a clearly thought out risk management system, which includes a policy appropriate to it organizational structure, information Support, system of measures of restriction, insurance and control of risks inherent in banking activities.

A serious approach to the problem of banking risks and economic analysis of certain types of risk will reduce bank losses and constantly expand the scope of services provided.

Bibliography

1) Balabanov I.T. "Fundamentals of Financial Management" - M.: Finance and Statistics, 2002, p.202

2) Laurel O.I. Bank management, 3rd ed., - M.: Knorus, 2010. P.148.

Used Internet sites:

The financial risk is a probabilistic characteristic of an event that in a long run can lead to losses, non-receipt of income, lacking or receiving additional income, as a result of the conscious actions of the credit institution under the influence of external and internal development factors in the conditions of the uncertainty of the economic environment. To determine bank risks, it is advisable to build such a logical chain that will show where financial risks are located, which is and how general economic risks can be transformed into financial risks of banks. To do this, and to clarify the classification of risks, we have developed a number of our own criteria, which must satisfy the risk system:

Compliance of the purpose of a particular organization. Like any commercial structure Banks put in order to receive profits, at the same time to the goals of banking

ranizations are added to the goal of ensuring the safety of funds and values \u200b\u200bposted on the current accounts of clients obtained in management or storage.

Relationship relationship, i.e. division to external and internal. External risks can only be taken into account in activities, and the internal can be influenced by studying and minimizing them, and in some cases their liquidation is possible.

Compliance with the conditions of the banking operation (time, provision, currency of payment, the ratio of lending to large and small borrowers, shareholders and insiders).

Acceptability of the risk system to implement subsequent management and control.

According to accessories to active and passive operations and to a specific structural unit. So, in banks risks arise in three large divisions: credit, treasury and operational. In the credit unit, they are mainly faced with credit risks. Treasury when conducting active operations assumes, currency risk, risk interest rate, portfolio, liquidity risk, credit and others. Operational management is mainly due to the operational risks and risks of the transfer.

The system of financial risks in banks is relentlessly related to the development and improvement of the banking system and banking legislation. In the West, the system of studying bank risks has received a fairly widespread development, which is inextricably linked with the processes passing in the banking global system in which the risk is the inevitable part of banking activities.

For the Western Financial System of the late 70s - early 80s of the last century, a stable growth of bank profitability was characterized, which contributed a number of extremely favorable circumstances: the ability to attract funds at low interest rates, low competition, vertical integration and a wide range of services provided. He contributed to this and the upper limit of the interest rate paid on deposits established by bodies regulating banking activities. Attracting funds at low interest rates also served the creation of bank cards. Banks included in the cartel, as a rule, had among themselves an agreement on a percentage rate paid to depositors. In addition, a significant amount of checks passing through banking structures in the collection process provided banks with almost free liabilities.

It should be noted that due to the unnecessar than the rigid practice of licensing in countries Western Europe Both the USA, artificially restraining the emergence of new banks, and, in some cases, the creation of banking cartels, external competition was significantly limited, that is, competition coming from other bank jurisdictions for each of the domestic markets. The number of institutions authorized to fulfill certain banking functions was also important to mitigating interbank competition. For example, in Finland, in which the population by 1984 numbered 4.8 million people, there were 7 commercial, 272 savings banks, 371 cooperative banks, as well as a postal bank with 3,500 branches. All this complex banking system remained stable only due to a number of agreements between banks related to interest rates on deposits (to control the costs of attracting funds), as well as compliance with the market segments divided by the Central Bank among various types of banks that limit their competition (for example, cooperative banks served Agricultural industries, savings banks - consumers, and large commercial banks - industry). "Gentlemen Agreement" on mutual not penetration into domestic financial markets each other existed between Swiss and West German banks for decades, until 1985. In banking practice there are many similar examples. In addition, various barriers prevented "external" in relation to this market to banks to attract funds with low costs, sometimes these barriers performed in the form of a ban on issuing loans in national currency (for foreign banks) or on the opening of the branch.

Expanding the range of services provided by banks led to the fact that banks became universal, which meet the financial needs of most society; Traditional banks rose in "supermarkets" of financial services. "Auxiliary" services, such as stock brokering, brokerage activities in the field of insurance services, and the like, also contribute to the expansion of species banking services and increasing the profitability of banking activities. International banking operations appeared, which include:

lending to export operations,

lending to international resident transactions and ensuring them monetary transfers and investment services

opening access to international capital and money markets to search for new sources of cash involvement.

The modern banking system of Russia began to develop since 1989, with the creation of 5 specialized banks, then commercial banks began to actively form. In total, it was created over 2500, and on 01.02.2005 it remained 145511, the rest did not stand the competitive struggle and were abolished. Commercial banks and credit and banking system as a whole in the context of Russia are determining and one of the main factors of the conservation and development of the economy, the implementation and promotion of investment programs, including state, increasing merging of industrial and banking capital in the form of financial and industrial groups .

As a dependent element of the economy, russian banks affected and global financial crises. Financial crises 1997-98. The emerging markets of Southeast Asia, South America and Russia clearly demonstrated the complexity of the problems of financial risk management in banks. Successful overcoming such crises provides financial and credit institutions to strengthen market positions, so the maximum mitigation of the consequences of crisis phenomena in international financial markets is for such structures the task of exceptional importance; At the same time, banks should also be necessary to own information on risk management methods in serving them to improve the efficiency of financial management.

In a situation "When the conditions for the functioning of commercial banks changed, the achievement of their goals becomes possible only by changing the quality of management. However, many theoretical issues of banking risk management have remained enough to be developed. This is especially true of such issues as: cash flow concept, Capital price, capital market efficiency, portfolio assets management, compromise between profitability and risk, etc. In economic literature there is no unity in the interpretation of individual terms and concepts (reliability, stability, stability, etc.), are far insufficient to apply a methodical development.

Thus, the basis of the functioning of an effective financial risk management system becomes their classification.

In our opinion, the most informative is the classification of banking risks proposed by Peter S. Rose12, which allocates the following six main types of risk of commercial bank and four additional species. The main types of risk P. Rose refers the following:

Credit risk

Risk of unbalanced liquidity

Market risk

Percentage risk

Risk of income profit

The risk of insolvency

To other important types of risk Rose P. refers four more types, which it determines as follows:

Inflationary risk

Currency risk

Political risk

Risk of abuse

The advantage of this classification is that this system includes both the risks arising within the bank and risks, the emerging pnene of the bank and affect its activities. At the same time, currently such a classification cannot be used by commercial banks for practical use in view of its consolidation, and therefore, a more detailed classification is needed with the allocation of groups and subgroups of risk, depending on the specifics of the operations conducted by the Bank.

The classification of Sheremeta AD, Shcherbakova G.N.13, is the most indicative and practical in use, which is the creation of a certain risk system, which includes certain types of risk, and the risks on external and internal risks are made as a basis. This allows you to divide the risks that arise outside the bank, and affect the operational activities of the bank and the risks arising within the bank, in the process of carrying out the bank of their "production" activities. This is a fundamental difference between two risk classes determines the attitude towards them from banks, control methods and management capabilities.

In the proposed risk scheme according to the type of relations to the internal and external environment of the bank are classified as follows:

risks associated with the instability of economic legislation and the current economic situation, the conditions for investing and using profits.

foreign economic risks (the possibility of introducing restrictions on trade and supply, closure of borders, etc.).

the possibility of deterioration of the political situation, the risk of adverse socio-political changes in the country or region.

the ability to change the natural and climatic conditions, natural disasters.

oscillations of market conditions, exchange rates, etc.

Internal:

associated with active operations (credit, currency, market, settlement, leasing, factoring, cash, risk on correspondent account, on financing and investment, etc.)

associated with the obligations of the bank (risks on deposit and deposit operations, according to the interbank loans attracted)

related to the quality management of the bank with their assets and liabilities (percentage risk, the risk of unbalanced liquidity, insolvency, risks of the capital structure, leverage, bank capital failure)

risk-related financial services (operating, technological, innovation risks, strategic, accounting, administrative, risks of abuse, security).

Unlike the Western Risk Management Practice, in Russia only recently applied to the Central Bank of the Russian Federation in the form of a letter dated 23.06.2004 No. 70-T "On Typical Banking Risks", in which 10 risk groups were allocated: credit, country, market, stock, currency , interest, liquidity, legal, risk of loss of business reputation and strategic.

In addition, the Central Bank proposed commercial banks to monitor risks at three main levels: individual (employee level), micro - and macro levels.

The risks of the individual level include risks caused by the consequences of unlawful or incompetent solutions of individual workers.

The risks of the micro level include the risks of liquidity and reducing capital generated by the decisions of the management apparatus.

The risks of the macro level include risks predetermined by external to the bank macroeconomic and regulatory and legal activities.

The main documents that are guided by the risk managers of Western companies in practical activity, developed by the Basel Committee on Banking Supervision14 and are called the principles of banking supervision. This document contains 25 principles, the implementation of which is called upon by the minimum necessary condition for ensuring efficient banking supervision, as well as comments on them based on the recommendations of the Basel Committee and the best international practice in the field of banking and banking supervision. Among the Basss Principles, it is possible to allocate principles 6-15 associated with risks of banking. The integration of Russian banking financial statements with international financial statements (IFRS) will undoubtedly gain its development in the application of these principles in Russian practice.

International auditing companies operating in Russia, on the basis of recommendations of the Basel Committee, develop their own risk classifications, an example is the risk map of 15\u003e 15 (a detailed structure of the financial risks of a commercial bank), established by PricewaterhouseCoopers, called GARP.

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Graduation qualifying work

Financial managementrisks of a commercial bank

INmaintenance

financial Commercial Bank Risk

The ability to risk intelligently - one of the elements of the culture of entrepreneurship as a whole, and banking activities - especially.

In market conditions, each of its participants takes certain rules of the game and to a certain extent depends on the behavior of partners. One of these rules can be readily readiness to take risk and take into account the possibility of its implementation in its activities.

In the West, even in relatively stable economic conditions, business entities pay close attention to risk management issues. At the same time, in the Russian economy, where the factors of economic instability have increasingly complicate the effective management of enterprises, analysis of the analysis and management of risks arising in the process of their economic activityis clearly not enough attention.

Until recently, such an approach dominated not only in enterprises real sectors Economy, but also in financial and credit organizations. Close attention to the issue of risk management began to be given only after the coming financial crisis, which clearly identified the entire severity of this problem in Russia.

In an effort to stabilize the socio-economic situation of enterprises, their financial independence, improve the efficiency of activity and ultimately maximize profits or, as a last resort, avoid damages and bankruptcy, managers of enterprises in modern conditions Start increasing attention to pay financial planning. This is undoubtedly one of the factors of the normalization of economic turnover, ensuring its necessary resources, strengthening the financial situation of enterprises in the face of the uncertainty of the economic situation.

Consequently, in a market economy, the decision-making process at all levels of management occurs in conditions when the final result is unknown. So, there is ambiguity and uncertainty, and, consequently, risk increases, that is, the danger of failure, unforeseen losses. In particular, it is inherent in the initial stages of the development of entrepreneurship.

In modern economic theory, such a category as a risk is acting as a measure of uncertainty.

The problem of risk management exists in any economic sector - from agriculture and industry to trade and financial institutions, which explains its relevance.

In this regard, it is relevant to the definition of a risk assessment indicators in the planning of the enterprise, factors affecting it, the development of practical recommendations for reducing and minimizing risks, as well as the development of a risk management strategy.

The financial activity of the enterprise in all its forms is associated with numerous risks, the degree of influence of which the results of this activity increase significantly with the transition to a market economy. The risks accompanying this activity are allocated to a special group of financial risks playing the most significant role in the general "risk portfolio" of the enterprise. The increase in the degree of influence of financial risks on the results of the financial activity of the enterprise is associated with the rapid variability of the economic situation in the country and the conjuncture of the financial market, the expansion of the sphere financial relations and its "liberty", the appearance of new financial technologies and tools and a number of other factors for our economic practice.

Financial risk management of the enterprise is a specific scope of financial management, which in recent years has been stated in a special area of \u200b\u200bknowledge - "risk management". Specialists working in this area are special qualification requirements, in particular, knowledge of the foundations of the economy and finance of the enterprise, mathematical methods, the foundations and applied apparatus of statistics, insurance affairs, etc. The main function of such specialists ("risk managers") is the management of financial risks of the enterprise.

Financial risk as an object of management implies its assessment and minimization using risk management methods. There are several ways to assess the financial risk and a great set of methods for controlling them. The main goal of financial management to ensure that with the worst decision of the financial state, it can only be about a certain decrease in profit, but in no case there was a bankruptcy question. Therefore, special attention is paid to the continuous improvement of risk management - risk management. This explains the practical significance of exhaust qualifying work.

The purpose of the study is to analyze financial risks and reserves for their decline.

In accordance with the aim, the tasks of graduation qualifying work were formulated:

Consider the theoretical foundations of financial risk as a subject of management;

Make an assessment and analysis of financial risk on the example of CJSC VTB;

Determine the main directions of management of financial risks of an enterprise.

The object of the study was the commercial bank of VTB CJSC, which needs to develop measures to prevent financial losses.

The theoretical and methodological basis served the scientific works of domestic and foreign scientists and financiers.

The practical significance of the work is that the proposed measures to improve the efficiency of financial risk management can be used in its work to reduce the influence of financial risks and increase the efficiency of the enterprise.

1. Theoretical Basics of Financial Risks

1.1 The essence of financial risk, its types and causes of occurrence

Considering the essence and content of risk, now there is no need to prove that the success of the entrepreneur, businessman, the manager largely depends on the understanding of attitudes towards risk. This problem is of particular interest and deserves a comprehensive study.

Risk is an economic category. As an economic category, it is the ability to make an event that may entail three economic results:

- Negative (loss, damage, loss);

- zero;

- Positive (winnings, benefit, profit).

An analysis of the economic literature devoted to the problem of risk showed that among the researchers there is no consensus regarding the definition and one-to-one understanding of the essence of risk. This explains, in particular, the multidimensionality of this phenomenon, practically complete ignoring its economic legislation in real economic practices and management activities. In addition, the risk is a complex phenomenon that has many inconsistent, and sometimes opposite real bases. This causes the possibility of the existence of several risk definitions from different points of view.

Let us dwell on the next risk determination that the most fully reflects the concept of "risk".

The risk is activities related to overcoming uncertainty in the situation of inevitable choice, in the process of which it is possible to quantitatively and qualitatively assess the likelihood of achieving the intended result, failure and rejection of the goal.

An analysis of numerous risk definitions made it possible to identify the highlights that are characteristic of the risk situation, such as:

- the random nature of the events that determines which outcomes are implemented in practice (the presence of uncertainty);

- availability of alternative solutions;

- are known or you can determine the probabilities of outcomes and expected results;

- the likelihood of damages or the likelihood of additional profit.

It should be noted that the difference between risk and uncertainty refers to a method for setting information and is determined by the presence (in case of risk) or the absence (with uncertainty) of probabilistic characteristics of uncontrolled variables. In a noted sense, these terms are used in the mathematical theory of the study of operations, where they distinguish the tasks of decision-making at risk and, accordingly, in conditions of uncertainty.

If it is possible to qualitatively and quantify the degree of likelihood of a particular option, then it will be a risk situation.

Under the financial risk of the enterprise means the likelihood of adverse financial implications in the form of income and capital loss in the situation of uncertainty of the conditions for the implementation of its financial activities.

There are various definitions of the concept of "risk". So, in the most general form, at risk, the likelihood of losses or incomplete income is understood as compared with the predicted option, i.e. This is a situational characteristic of activities consisting of the uncertainty of its outcome and possible steps with which it can be optimized.

Another risk determination is any event, as a result of which the financial performance of the Company may be lower than expected. When making a financial decision, it is necessary to analyze financial risk.

In the most general form, the financial risk is an image of action in an unclear, an indefinite environment associated with the monetary sphere.

In investment activities, under financial risk, the risk imposed on shareholders (owners) of the enterprise associated with the uncertainty of payments on their debt obligations is implied.

Thus, the financial risk is the degree of uncertainty associated with a combination of borrowed and own funds used to finance a company or property; The larger the share of borrowed funds, the higher the financial risk.

A distinctive feature of financial risk analysis is that the objectivity of the management decisions made largely depends on its results.

Risk is inherent in a number of features, among which you can allocate:

- inconsistency,

- alternativeness,

- uncertainty.

Contribuability is manifested in the fact that, on the one hand, the risk has important economic, political and spiritual and moral consequences, since accelerates public and technical progress, has a positive impact on public opinion and the spiritual atmosphere of society. On the other hand, the risk leads to adactivity, voluntarism, subjectivism, inhibits social progress, generates certain socio-economic and moral costs, if in the conditions of incomplete source information, the risk situation is chosen without taking into account the objective patterns of the development of the phenomenon in relation to which The decision is made.

Alternativeness implies the need to choose from two or several possible solutions. The lack of choices takes off talk about risk. Where there is no choice, the risky situation does not arise and, therefore, there will be no risk.

The existence of risk is directly associated with uncertainty. It is heterogeneous in the form of manifestation and content. The risk is one of the ways to withdraw the uncertainty, which represents ignorance of a reliable, lack of unambiguity. Across the attention on this property of risk is important due to the fact that optimizing management and regulation in practice, ignoring objective and subjective sources of uncertainty, unpromising.

Financial risk is a function of time. As a rule, the degree of risk for this financial asset or an embodiment of capital investments is increased over time.

Financial risk is manifested in the field of economic activity of the enterprise. Financial risk is associated with the formation of resources, capital, income and financial results Enterprises are characterized by possible monetary losses in the process of economic activity. Financial risk is defined as a category of economic, occupying a certain place in the system of economic categories.

The expected level of financial operational performance varies depending on the type and level of risk in a rather significant range. Thus, the financial risk may be accompanied by both significant financial losses for the enterprise and the formation of additional income.

Financial risk is an integral part of all economic operations and inherent in all areas of the enterprise. The objective nature of the manifestation of financial risk remains unchanged.

Despite the fact that the manifestations of financial risks have an objective nature, the main indicator of financial risk is the level of risk - is subjective. The subjectivity of risk assessment is due to various levels of accuracy of management information, professional experience and qualifications of financial managers and other factors.

The risk is not a permanent value, the level of financial risk is changed. First of all, it changes in time. In addition, the indicator of the level of financial risk varies significantly under the influence of numerous objective and subjective factors affecting the risk.

During the preparation and adoption of the economic decision, it is impossible to argue with complete confidence, which particular conjuncture will be in the market, which changes in the surrounding economic environment will entail commissioning or new characteristics of the functioning of an industrial facility, which unexpected technical obstacles or constructive problems may arise. Buyers may not like a new product, the conjuncture in the market sector of this enterprise may change for reasons, not an unemployed entrepreneur, etc. However, by exposing the idea to a versatile critical role, identifying potential hazards and analyzing the possible consequences, finally attracting additional informationIt is possible to provide measures to neutralize or mitigate the unwanted consequences of the manifestation of certain financial risk factors.

Despite the fact that theoretically, as a result of the consequences of the manifestation of financial risk, both positive (profit) and negative (loss, loss) of deviations can be, and the financial risk is characterized by the level of possible adverse effects. This is because negative consequences Financial risks determine the loss of not only income, but also the capital of the enterprise and this leads it to bankruptcy and termination of activities.

Blank I.A. Under financial risk understands the likelihood of adverse financial implications in the form of loss of income or capital in the situation of uncertainty conditions for the implementation of its financial activities. Most risks fall under this definition of financial risk, since in the implementation of most risks, income loss occurs, and uncertainty is a characteristic feature of any risk. In addition, the risk of liquidity loss (element of financial risk) in the conditions of the inflationary economy for the enterprise, as a rule, does not lead to money losses.

Kovalev V.V. It gives the definition of financial risk as a risk associated with the possible disadvantage of interest on long-term loans and borrowings. However, this approach narrows the content of the category. The above definition can be considered a private case with the risk characteristic of the liquidity loss of the enterprise.

Financial risk is not a fatal phenomenon, but a largely managed process. Its parameters, it is possible to effect on its level. Since such an impact can only be provided on the "cognitive" risk, then it is necessary to treat it rationally, i.e. It must be studied, analyze the manifestations of risk in economic situations, identify and identify its characteristics: the composition and significance of risk factors, the scope of the consequences of their manifestation, etc.

Determining the acceptable value of the level of financial risk is an independent task of a special study. It is preceded by a large analytical work and special calculations, and the regulatory establishment of some level as an acceptable - the prerogative of the highest management of the enterprise. The boundary between acceptable and unacceptable for the economic entity level of risk in different periods Business activities and in different sectors of the economy are different. For example, if we evaluate the risk in a probabilistic scale, then according to some data, for highly technological production, the allowable probability of obtaining a negative result at the stage of fundamental studies is 5-10%, applied scientific developments about 80-90%, design and design developments 90-95% .

Economic and political development modern Mira It gives rise to new types of risks that are quite difficult to determine and evaluate quantitatively. Transnationalization of business is accompanied by the creation of complex financial and production relationships. Strengthening computerization and automation of production and economic activities of entrepreneurial organizations leads to the possibility of losses due to failures in computer systems and in the work of computing technology. In recent years, the risks associated with political factors have become of particular importance, as they carry large losses for entrepreneurship.

In the field of financing, the project may be risky if this is primarily facilitated:

- economic instability in the country;

- inflation;

- the current situation of non-payment in the industry;

- shortage of budget funds.

As the causes of the financial risk of the project, the following can be called:

- political factors;

- fluctuations in exchange rates;

- state regulation of accounting banking rate;

- the increase in the cost of resources in the capital market;

- increase production costs;

- lack of information resources;

- Personal qualities of the entrepreneur.

Thus, the listed reasons may lead to an increase in interest rates, higher prices for financing, as well as increase in prices and contracts for contracts.

1. 2 Classification of financial risks and methods for their assessment

The concept of "risk" is inextricably linked with human activity and has the same years as Civilization exists. Its existence is associated with the inability in many cases, it is significant to anticipate the onset of certain events that may not depend on the desires, preferences and actions of the subject.

Entrepreneurial activities carried out in harsh conditions market economyAlso is no exception. When implementing any type of economic activity, there is an objectively danger (risk) of losses, the volume of which is due to the specifics of a particular business. The risk is the likelihood of losses, losses, inappropriate planned income, profits. Losses that occur in business activities can be divided into material, labor, financial.

The risk of business has a dual nature and includes not only adverse outcomes (loss), but also favorable opportunities (for example, increasing profitability). This combination of danger and favorable possibilities clearly symbolizes the essence of risk and a compromise of the compromise of the decisions taken in business: the higher the risk generated by the danger, the greater there should be a reward associated with a favorable opportunity.

Currently, such a look at risk is characteristic of many economic disciplines. In particular, it underlies one of the most common approaches in the financial management, according to which the risk is interpreted as the possibility of deviating the actual results of the operations of the expected (projected). The wider range of possible deviations, the higher the risk of a business operation. In this case, the result of the operation usually understand its yield, i.e. the amount of received payments calculated in percentage By the amount of costs.

Under the classification, the system of the coented concepts of any field of knowledge or human activity used as a means of improving relations between these concepts is understood. Thus, the classification of risks means systematizing a plurality of risks on the basis of any signs and criteria that allow you to combine subsets of risks in general concepts. Scientific risk classification promotes a clear definition of the place of each risk in general System and create potential opportunities to effectively apply the appropriate methods, risk management techniques. In my opinion, the most informative is the classification of banking risks proposed by Peter S. Rose, which allocates the following six main types of risk of commercial bank and four additional species. The main types of risk P. Rose refers the following:

· Credit risk;

· Risk of liquidity imbalance;

· Market risk;

· Percentage risk;

· Risk of inconstitution of profits;

· The risk of insolvency;

To other important types of risk Rose P. refers four more types, which it determines as follows:

· Inflationary risk;

· Currency risk;

· Political risk;

· Risk of abuse.

The advantage of this classification is that this system includes both the risks arising within the bank and risks, the emerging pnene of the bank and affect its activities.

At the same time, currently such a classification cannot be used by commercial banks for practical use in view of its consolidation, and therefore, a more detailed classification is needed with the allocation of groups and subgroups of risk, depending on the specifics of the operations conducted by the Bank. The classification of Sheremete A.D., the classification of Sheremete A.D., is the classification of Sheremete, the advantage of which is the creation of a certain risk system, which includes certain types of risk, and the basis of risks on external and internal risks. This allows you to divide the risks that arise outside the bank, and affect the operating activities of the Bank and the risks arising within the bank in the process of implementing the bank of their "production" activities. This is a fundamental difference between two risk classes determines the attitude towards them from banks, control methods and management capabilities. Risks According to the type of relations to the internal and external environment of the bank are classified as follows:

· Risks associated with the instability of economic legislation and the current economic situation, the conditions for investing and using profits.

· Foreign economic risks (the possibility of introducing restrictions on trade and supply, closure of borders, etc.).

· The possibility of deterioration of the political situation, the risk of adverse socio-political changes in the country or region.

· Ability to change the natural and climatic conditions, natural disasters.

· Fluctuations of market conditions, exchange rates, etc.

internal:

· Related with active operations (credit, currency, market, settlement, leasing, factoring, cash registers, risk on correspondent account, on financing and investment, etc.)

· Bank's obligations (risks on deposit and deposit operations, according to the involved interbank loans)

· Associated with the quality of management of the bank with their assets and liabilities (interest risk, the risk of unbalanced liquidity, insolvency, risks of capital structure, leverage, bank capital failure)

· Risk-related financial services (operational, technological, innovation risks, strategic, accounting, administrative, risks of abuse, security).

Unlike the Western Risk Management Practices, in Russia only recently included the instructions of the Central Bank of the Russian Federation in the form of a letter dated 23.06.2004 No. 70-T "On Typical Banking Risks", in which 10 risks groups were allocated: credit, country, market, stock, currency , interest, liquidity, legal, risk of loss of business reputation and strategic. In addition, the Central Bank proposed commercial banks to monitor risks at three main levels: individual (employee level), micro - and macro levels.

The risks of the individual level include risks caused by the consequences of unlawful or incompetent solutions of individual workers.

The risks of the micro level include the risks of liquidity and reducing capital generated by the decisions of the management apparatus.

The risks of the macro level include risks predetermined by external to the bank macroeconomic and regulatory and legal activities. The main documents that are guided by the risk managers of Western companies in practical activity are developed by the Basel Committee on Banking Supervision and are called banking supervisory principles. This document contains 25 principles, the implementation of which is called upon by the minimum necessary condition for ensuring efficient banking supervision, as well as comments on them based on the recommendations of the Basel Committee and the best international practice in the field of banking and banking supervision. Among the Basss Principles, it is possible to allocate principles 6-15 associated with risks of banking. The integration of Russian banking financial statements with international financial statements (IFRS) will undoubtedly gain its development in the application of these principles in Russian practice. International audit companies operating in Russia, on the basis of the recommendations of the Basel Committee, develop their own risk classifications, an example is a risk map (a detailed structure of the financial risks of a commercial bank), established by PricewaterhouseCoopers, called GARP (Tab 1).

Need to give brief description The risks given in Table:

1. Credit risk is the risk of possible losses related to the worsening of creditworthiness caused by the inability or reluctance to fulfill their obligations in accordance with the terms of the agreement. For the Bank, credit activities are the main in the structure of active operations, so fails to fulfill its obligations to financial losses and, ultimately, leads to a decrease in capital adequacy and liquidity.

Table1.1. Financial Risk Map of Commercial Bank

Risk class	View of risk	Risk variety
Credit risk	Direct credit risk
	Estimated risk
	Risk of credit equivalent
	Risk of correlation
	Stock risk	Risk of variability of stock price Risk of variability of volatility Basis risk Risk of dividend
Market risk	Percentage risk	Risk of interest rate Risk of yield curve Interest rate risk The basic risk of interest rate / percentage spread risk Risk of prepayment
	Currency risk	Risk of currency rate Volatility of exchange rates Risk of profit conversion
	Trade risk	Risk price for goods Risk of forward price Risk of price volatility for goods Basic trade risk / recession
Risk of portfolio concentration	Credit Spread
	Risk of tools
	Risk of a substantial operation
	Risk of sector economy
Risk of liquidity	Risk of liquidity funding
	The risk of liquidity of assets
Operational risk	Risk of transaction	Error in performance Product complexity Error in accounting Error in calculations Risk delivery of goods Risk of documentation / Contract risk
	Risk of operational control	Excess limits Unfair trading Fraud Money laundering Risk of security Risk of main personnel Risk processing operation
	Risk of systems	Programming errors Error about the model / Methodology Error defining a market price Management information Computer system failure Error telecommunication systems Planning events in case of emergency situations
Risk Business Events	Risk of currency convertibility
	Pest Reputation
	Tax risk
	Legal risk
	The risk of unforeseen circumstances	Natural disasters. Military actions. Crisis / suspension of operations in the market
	PIR legislation	Failure to comply with capital requirements. Changes in legislation

2. Market risk is a possible adverse rejection of the bank's financial results from planned, caused by changes in market quotations (market prices).

3. The risk of a portfolio concentration is a class of risks associated with increased dependence of the Bank from individual counterparties or groups of related counterparties, individual industries, regions, products or service providers.

4. The risk of liquidity is the risk associated with the reduction in the ability to finance the received positions on transactions, when the deadlines for the elimination of their elimination, the impossibility of covering the requirements of counterparties, as well as the requirements of ensuring, and finally the risk associated with the inability to eliminate assets on various segments of the financial market . Maintaining a certain level of liquidity is carried out by managing assets and liabilities. The main task is to maintain the optimal relationship between liquidity and profitability, as well as balance between the terms of investments in assets and liabilities. To ensure the current liquidity, the bank must have a sufficient stock of liquid assets, which imposes restrictions on investing in low-liquid assets (loans).

5. Operational risk is the risk of losses associated with human actions (both deliberate and unintentional), malfunctions or external influences.

6. The risk of a business event is a class of risks faced by the Bank as an economic entity. These risks are not specific to banks, any other business entity faces with them.

The classification submitted covers all types of banking operations. The advantages of this classification should include the allocation of the most problematic zones of financial risks in the Bank's activities, accounting for fluctuations in market rates, concretization of the risks of a business-event. When considering various classifications of financial risks, a morphological table of the risks of a commercial bank cannot be noted (Fig. 2) proposed by Savinskaya N.A., which can be used to create an informational and analytical base of systemic determination and research of bank risks.

Table 1.2. Morphological Table of Risk Commercial Bank

Morphological variable	Types of risk
Logistics links (stream type)	material	financial	information
Process type	innovative	infrastructure	industrial
Place in the system	at the exit	in the process	at the exit
Subjective factor	individual	collective

Such a classification allows you to determine the sources and types of risk by tracking links: the flow is a process - system characteristic is a subjective factor, as well as organize the structure and directions of a comprehensive analysis of emerging risks. After analyzing various risks classifications, we want to note that each commercial bank has its own risks, depending on the specifics of banking activities. Although all banks are inherent in balance and off-balanced risks, the risks of financial services and external risks, their combination, main zones, sizes and priority areas will be developed differently depending on the preferential specialization of banks, and therefore, it is different to characterize each type of banking activity in different ways . So, for banks that are widely engaged in the accumulation of free funds and their placement among other credit institutions (Bank of Moscow, JSCB Eurofinance), which determine the risks on deposit and deposit operations and on the possible return of interbank loans.

Banks specializing in innovation (Alfa-Bank OJSC, AKB ROSBANK, OJSC Investment Bank "Trust"), prevail the risks associated with long-term and medium-term lending to new technologies, i.e. Credit, market or portfolio risk. Banks specializing in servicing foreign trade operations (Bank OJSC Foreign trade", Gazprombank," Gazprombank ") carry mainly risks associated with changing the value of assets and liabilities due to changes in currency exchange rates, the risk of the cost of the transaction in the future in national currency, the risk of translation (differences in accounting of liabilities and is active in the involyut). Thus, it seems that the classification of financial risks in banks should be based on the six fundamental risks of the highlighted company "PricewaterhouseCoopers", which in the future each credit organisation Specifies and complements depending on the profile of its activities.

The primary task of any commercial bank is to develop a risk map, which must, first, to reflect the specifics of a specific credit institution; secondly, to display a holistic representation of the entire range of risks (however, in one group should not directly unite the risks of different levels of consideration); and, thirdly, allocate such characteristic signs risk, as a source, an object that is risk and a subject that perceives risk. The classification developed taking into account these requirements is intended for effective qualitative and quantitative risk assessment and is the basis for effective financial risk management of commercial banks.

1.3 Methods for assessing financial risks

Many financial transactions (venture investment, purchase of shares, Seling operations, credit operations, etc.) are associated with a rather significant risk. They require to assess the degree of risk and determine its magnitude.

The degree of risk is the probability of the occurrence of the case of losses, as well as the size of possible damage from it.

The risk can be:

· Allowable - there is a threat of full loss of profits from the implementation of the planned project;

· Critical - it is possible not only for profit, but also revenue and

coverage of losses at the expense of the entrepreneur;

· Catastrophic - possible loss of capital, property and bankruptcy of the entrepreneur.

Quantitative analysis is a definition of a specific amount of monetary damage of individual subspecies of financial risk and financial risk in aggregate. Sometimes a qualitative and quantitative analysis is made on the basis of an assessment of the influence of internal and external factors: an elemental assessment of the specific gravity of their influence on the work of this enterprise and its monetary expression is carried out. This method of analysis is quite laborious from the point of view of quantitative analysis, but brings its undoubted fruits in high-quality analysis. In this regard, more attention should be paid to the description of the methods of quantitative analysis of financial risk, since there are some skills for their competent application.

In absolute terms, the risk can be determined by the magnitude of possible losses in the onserial-real (physical) or value (monetary) expression. In relative terms, the risk is defined as the value of possible losses, attributed to a certain base, in the form of which is most convenient to accept either the property status of the enterprise or total costs Resources on this species Entrepreneurial activity or expected income (profit). Then the losses will be considered a random deviation of profits, income, revenue in the direction of decline. Compared to expected values. Entrepreneurial losses are primarily a random decline in entrepreneurial income. It is the magnitude of such losses and characterizes the degree of risk. Hence the risk analysis is primarily associated with the study of losses.

Depending on the magnitude of the likely loss, it is advisable to divide them into three groups:

· Losses whose value does not exceed the calculated profit, can be called admissible;

· Losses whose magnitude more settlement profits relate to the category of critical - such losses will have to compensate from the owner's pocket;

· The catastrophic risk is even more dangerous, in which the entrepreneur risks to incur losses exceeding all his property.

If it is possible to predict in one way or another, to estimate possible losses on this operation, then a quantitative risk assessment was obtained to which an entrepreneur is. Dividing the absolute value of possible losses on the calculated value of costs or profits, we obtain a quantitative risk assessment in relative terms, as a percentage.

Speaking that the risk is measured by the magnitude of possible probable losses, the random nature of such losses should be taken into account. The probability of an event occurs can be determined by an objective method and subjective. An objective method is used to determine the likelihood of an event on the basis of the calculus of the frequency with which this event occurs. The subjective method is based on the use of subjective criteria, which are based on various assumptions. Such assumptions may include judgment evaluating, his personal experience, assessment of the expert on the rating, the opinion of the consultant auditor, etc.

Thus, the basis of the assessment of financial risks is based on the dependence between the definite dimensions of the enterprise loss and the probability of their occurrence. This dependence finds an expression in the probability curve under construction of a certain level of loss.

The construction of a curve is an extremely difficult task, requiring employees dealing with financial risk issues, sufficient knowledge experiences. To build the probability curve of a certain level of loss (risk curve), various ways are applied: statistical; analysis of expediency costs; Expert estimate method; analytical method; Method of analogy. Among them should be especially distinguished by three: a statistical method, expert assessment method, analytical method.

The essence of the statistical method is that the statistics of losses and profits that occurred in this or similar production are being studied, the magnitude and frequency of obtaining one or another economic return are made up, the most likely forecast for the future is compiled. Undoubtedly, the risk is a probabilistic category, and this sense is the most reasonable from scientific positions to characterize and measure it as the likelihood of a certain level of loss. The probability means the possibility of obtaining a certain result.

The financial risk, as well as any other, has a mathematically pronounced likelihood of a loss that relies on statistics and can be calculated with sufficiently high accuracy. To quantify the amount of financial risk, it is necessary to know all possible consequences of any separate action and the likelihood of the consequences themselves. In relation to economic problems, the methods of probability theory are reduced to determine the values \u200b\u200bof the probability of occurrence of events and to choose from possible events of the most preferable based on the greatest value of the mathematical expectation, which is equal to the absolute value of this event multiplied by the likelihood of its occurrence. The main tools of the statistical method for calculating financial risk: variation, dispersion and standard (rms) deviation.

Variation is a change in quantitative indicators during the transition from one result of the result to another.

Dispersion - measure of deviation of the actual knowledge from its average value.

Thus, the size of the risk, or the degree of risk, can be measured by two criteria: the average expected value, the volatility (variability) of a possible result. The average expected value is the value of the value of the event that is associated with an uncertain situation. It is a weighted average of all possible results, where the probability of each result is used as a frequency, or weight corresponding to the value. Thus, the result is calculated that is presumably expected.

Analysis of expediency costs is focused on identifying potential risk areas, taking into account the financial sustainability of the company. In this case, you can simply do with standard techniques. financial Analysis results of the activities of the main enterprise and the activities of its counterparties (bank, investment fund, client enterprises, issuer enterprises, investor, buyer, seller, etc.)

The method of expert assessments is usually implemented by processing the opinions of experienced entrepreneurs and specialists. It differs from statistical only by collecting information to build a risk curve. This method involves the collection and study of estimates made by various specialists (this enterprise or external experts) of probabilities of the occurrence of different levels of losses. These estimates are based on accounting of all financial risk factors, as well as statistical data. The implementation of the method of expert estimates is significantly complicated if the number of evaluation indicators is small.

An analytical method for constructing a risk curve is most complex, since underlying its elements of the game theory are available only to very narrow specialists. The subspecies of the analytical method is more often used - the model sensitivity analysis.

Analysis of the sensitivity of the model consists of the following steps:

The choice of a key indicator relative to which the sensitivity is estimated (the internal rate of return, net reduced income, etc.);

The choice of factors (the level of inflation, the degree of state of the economy, etc.);

Calculation of key indicator values \u200b\u200bat various stages of the project (purchase of raw materials, production, sale, transportation, caption, etc.).

The costs of the costs and receipts of financial resources formed in this way make it possible to determine the flow of funds funds for each moment (or time segment), i.e. Determine the performance indicators. Diagrams are being built, reflecting the dependence of the selected resulting indicators from the value of the initial parameters. Comparing the obtained diagrams among themselves, the so-called key indicators can be determined, which most affecting the estimate of the profitability of the project.

Sensitivity analysis has also serious disadvantages: it is not comprehensive and does not specify the probability of alternative projects.

The method of analogy When analyzing the risk of a new project is very useful, since in this case the data on the consequences of the impact of adverse factors of financial risk on other similar projects of other competing enterprises are investigated.

Indexing is a way to preserve the real value of monetary resources (capital) and profitability in inflation. It is based on the use of various indices. For example, when analyzing and forecast of financial resources, it is necessary to consider the price change, for which prices are used. The price index is an indicator that characterizes the change in prices for a certain period of time.

Thus, the existing methods for constructing the probability curve of the occurrence of a certain level of losses are not equivalent, but one way or another allows you to make an approximate assessment of the total volume of financial risk.

2. Financial risk management CJSC VTB24

2.1 Characteristics of CJSC VTB24

Bank VTB 24 (CLOSED JOINT-STOCK COMPANY) (former name - CLOSED JOINT-STOCK COMPANY "A Commercial Bank for the Development of Entrepreneurial Activities" Guta-Bank ") was established on the basis of the decision of the General Meeting of Participants in the Commercial Bank for the Development of Entrepreneurial Activities" Guta Bank "(Limited Liability Company) (Protocol No. 77 of March 31, 2000 on the transformation of society).

The Bank is the successor of KB GUTA-Bank LLC for all its rights and responsibilities in accordance with the transfer act.

Until July 16, 2004, the Bank was part of the Group of Affiliated Companies - "Gut Group", implementing the functions of the main settlement center of the Group. In the summer of 2004, as a result of the "mini-crisis" in the banking market, the Bank collided with the problem of liquidity. The deficit of liquid funds has negatively affected the ability of the Bank to fulfill all the obligations on customer payments at the specified period. Since the owners of the bank - "Guta Group" could not consolidate funds in the required volume to consolidate funds for the operational recovery of the Bank's liquidity, on July 16, 2004, the agreement was signed on the sale of a controlling stake in the Bank (85.81%) of OJSC Vneshtorgbank. Thus, the "Guta Group" has lost control over the Bank on July 16, 2004.

Despite the 2004 liquidity crisis, as well as a clientele's outflow and reduction of operations, the Bank managed not only to restore lost positions, but also to significantly increase the loan portfolio and resource base. On March 25, 2005, the Supervisory Board of Development of CJSC KB GUTA-BANK was approved by the Supervisory Board of OJSC, in accordance with which a specialized retail bank was created on the basis of the bank, focusing on servicing and lending to the population and small businesses within the VTB Group. As part of the approved development strategy and, in accordance with the decision of the General Meeting of Shareholders dated June 6, 2005, CJSC "KB GUTA-BANK" was renamed Retail services to ZAO. On the retail market, its activities were carried out using the trademark "Vneshtorgbank-24". On November 14, 2006, CJSC Vneshtorgbank Retail services was renamed VTB 24 (CJSC).

The bank has a general license issued by the Central Bank of the Russian Federation to conduct banking operations in rubles and in foreign currency with legal entities and individuals, license to carry out operations with precious metals, license of the dealer in the securities market, the broker license in the futures market and options and T ..

The bank is a member of the Deposit Insurance System.

In 2005-1th half of 2006 The bank passed restructuring, received additional capital from the Mother bank, received a new name and a new team of managers.

Bank VTB 24 (Closed Joint-Stock Company) is a credit commercial organization, the main purpose of which is profit.

Creating goals:

The Bank was created with the aim of obtaining profit in the implementation of banking operations CJSC KB GUTA-Bank specialized, mainly on the provision of settlement services and lending to the Gut Group. VTB 24 (CJSC) specializes in the provision of banking services and lending to the population and small businesses.

2.2 Analysis of financial risks CJSC VTB 24

The formation of a financial risk management system is necessary, first of all, for such industrial enterprises, whose work indicators indicate unsatisfactory financial condition. This situation is reflected in the tables below.

Table 2.1. Profit change indicators

The analysis of the data of the table shows that revenue from implementation decreased in 2013 compared with 2012 by 2.11%, and in 2014 compared with 2013 - by 6.9%. Nonealization revenues increased in 2013 by 21%, and in 2014 compared with 2013 decreased by 113.3%. Operating income increased in 2013 by 39%, and in 2014 compared with 2013 decreased by 13.3%.

Credit risk are subject to investment of a credit organization - the Issuer in the debt obligations of corporations: bills, bonds, etc. In connection with the release of mortgage-coated bonds, the issuer is subject to credit risk on mortgage, which is included in the mortgage coating

Table 2.2. Formation of the costs produced by the organization

Indicator
		Specific weight,%	Absolute value, thousand rubles.	Specific weight,%	Absolute value, thousand rubles.	Specific weight,%
Material costs
Labor costs
Executions
Depreciation of fixed assets
Other costs

The data analysis of the table allows us to conclude that the costs produced by the organization increased in 2013 compared with 2012 by 271%, in 2014 compared with 2013 - by 3%. The greatest share in the composition of material costs was material costs (51% in 2012, 76.22% in 2013, 72.6% in 2014).

With regard to the formation of receivables, the analysis of the table data allows us to conclude that in the period from 2012-2014. The enterprise increases the level of receivables for up to 12 months.

Compared with 2012 in 2013, the growth occurred at 15074802 thousand rubles. or by 2838%. In 2008, compared with 2007, receivables rates increased by 23.5% and amounted to 19272833 thousand rubles. At the same time, the share of overdue receivables increased from 12.7% in 2012 to 79% in 2014. Received receivables for up to 12 months in 2014 by 384% more than in 2012, and in 2014 G. 87.6% than in 2013

Table 2.4. Formation of receivables

Indicator
	Absolute value, thousand rubles.		Absolute value, thousand rubles.		Absolute value, thousand rubles.
An emerging receivables (for a period of 12 months)
Including Overdue
Around receivables (more than 12 months)
Including Overdue
Repaid in the reporting period (for a period of up to 12 months)
Including Overdue
Repaid in the reporting period (more than 12 months)
Including Overdue

Analysis of the movement of fixed assets led to the following conclusions:

1) For 2012 - 2014 there was an increase in the deadline for updating fixed assets, which led to an increase in the renewal coefficient of fixed assets from 2.48 in 2012 to 5.77 in 2014

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115. Financial risks in the activities of a commercial bank

In any economic activity there is always a risk of losses arising from the specifics of economic operations. The danger of such losses is commercial risk. Part of commercial risks are financial risksassociated with the probability of loss of any monetary sums or their shortcuting.

Risks are divided into two types:

1) cleanmeaning the possibility of obtaining a loss or zero result;

2) speculativeexpressed in the likelihood of obtaining both positive and negative results.

Financial risks belong to speculative. Investor, carrying out venture capital investment, knows that only two types of results are possible for him - income or loss. A feature of financial risk is the likelihood of damage as a result of any operations in the financial and credit and exchange spheres, carrying out operations with securities, with stock values, i.e. the risk that follows from the nature of these operations.

The leading principle in the work of commercial banks is the desire to obtain as much profit as possible. It is limited to the ability to incur damages. The risk is the greater, the higher the chance to make a profit. The risk is formed as a result of the rejection of valid data from the assessment of today's condition and future development. These deviations can be both positive and negative. In the first case, we are talking about the chances of profit, in the second - about the risk to have losses.

In the general case, the risks of production banking operations include the following.

1. Credit risk – the risk of non-missing principal and interest on the loan issued.

Credit risk is determined by factors lying both on the client side and on the side of the bank.

The group of factors lying on the client side includes the creditworthiness and nature of the credit transaction. The group of factors lying on the side of the Bank includes the organization by the Bank of the credit process.

2. Percentage risk - Danger of losses by commercial banks, credit institutions, investment funds as a result of exceeding interest rates paid by them for funds raised over the bid on loans provided.

3. Currency risk It is the danger of currency losses associated with a change in one of the currencies in relation to another, including national currency, during foreign economic, credit and other currency transactions.

4. Portfoliage risk - The possibility of losses in the securities market when changing their market value.

5. The risk of missed possible benefits - This is the risk of an indirect (side) financial damage (incompleteness of profit) as a result of the failure of any event or stopping economic activity.

In addition, they often talk about the risk associated with the inability of the Bank to compensate administrative and economic costs.

All the listed risks are interrelated. Obviously, credit risk can lead to risk of liquidity and insolvency of the Bank, as well as risk associated with the inability of the Bank to reimburse administrative and economic costs. The risk of interest rate is in its own way independent, since it is associated with the conjuncture in the credit resources market and acts as a factor that does not depend on the bank. However, it is able to exacerbate the credit risk and the entire chain if the bank does not adapt to changing the level of the market interest rate.

Thus, the main type of financial risks of the commercial bank is the credit risk and risk of interest rates.

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Commercial Bank Resources All Commercial Bank Resources are divided into own and attracted. 3 groups of funds attracted by the commercial bank: a) bank customers; b) loans from the Central Bank; c) funds of credit organizations.Bank contribution (deposit) -

In the process of activity, commercial banks are subject to multiple risks. In general, bank risks are divided into four categories: Financial, operational, business and emergency.

Financial risks In the queue, include two types of risks: clean and speculative. Pure risks including Credit risk, liquidity and solvency risks can lead to a loss of bank in improper management. Speculative risks Based on the financial arbitration may have a profit result if arbitration is carried out correctly, or a loss - otherwise. It is worth noting that the main types of speculative risk: interest, currency and market (or positional).

Different types of financial risks, moreover, are closely related to each other, which can significantly increase the overall bank profile risk. For example, a bank exercising currency operations is subject to currency risk, but it will also be under an additional liquidity risk and interest risk if there will be open positions or discrepancies in the periods of requirements and obligations in the net position on urgent operations.

Operating risks depend on: the general business strategy of the bank; his organization; functioning of internal systems, including computer and other technologies; consistency of the Bank's policy and its procedures; measures aimed at preventing errors in management and against fraud. Business risks are associated with an external banking business environment, incl. With macroeconomic and political factors, legal conditions and regulatory conditions, as well as with the general infrastructure of the financial sector and the payment system. Extreme risks include all types of exogenous risks, which are capable of carrying out the activities of the Bank or undermine its financial condition and capital adequacy in the event of an event.

We characterize financial risks to pure risks, i.e., leading in the event of a risk case only to negative consequences.

Deposit risk - Risk associated with the possibility of non-return of deposit deposits (deferences of deposit certificates). This risk is rarely found and is associated with an unsuccessful choice of a commercial bank for the implementation of deposit operations of the enterprise. It is important to note that however, with all this cases, the implementation of deposit risk is found not only in our country, but also in countries with a developed market economy. Abroad, the insured of this type of risk is the bank, and the insurance is carried out in a mandatory form.

Credit risk - The risk associated with the danger of non-payment by the borrower of the principal debt and interest due to the creditor. The causes of the occurrence of credit risk may be the unscrupulousness of the borrower, the deterioration of the competitive position of a particular company, adverse economic conjuncture.

57. Investment banks, their functions and operations

Investment banks are special credit institutions that implement funding and lending to investments. These banks are engaged in non-subscript banking institutions, which is associated with the features of the loan capital market and the differences in the banking legislation of individual industrialized countries, the classic type of US investment bank approved Banking act 1935 (Act of Gloss-Stigolla). In accordance with the specified act, commercial banks are prohibited from investment activities, with the exception of operations with state and municipal bonds. Such operations are in the acquisition of part of state and municipal bonds, organizing the placement of some of their share among the population, conducting subscription operations on bonds and payment of coupons (cutting tickets to the bond, giving the right to receive a certain amount of interest after a period of one period).

The main function of the investment bank in the United States is the emission function - negotiations with trade and industrial companies on the release of new shares and bonds and technical training of such issues with the obligations of securities on the market and the acquisition of that part of them that will not be posted subscription.

A characteristic feature of cash capital accumulation Investment banks of the United States is to attract savings of not only the richest segments of the population, but also small investors with low incomes - small bourgeoisie, farmers and relatively well-paid workers and employees.

In European industrial developing countries, such a clear distinction between commercial and investment banks does not exist. So, in the UK, trading banks are traditionally involved in investment operations. The most influential of them (about 60) are included in the Association of Investment Banks. Since 1970, commercial banks from 1970 are actively invaded.

In France, financing and lending to capital investments are carried out by special credit institutions, among which the leading place is owned by the national loan (exchanging). This bank distributes state subsidies, provides loans for a period of 7-15 years and gives guarantees on loans.

In Germany, investment banks as independent institutions did not get distribution. Here banks combine both short-term and long-term investment operations. At the same time, Grossbanks (German, Dresden and Commercial) are held in the market of loan capital capital countries.

Functions of investment banks and banks of long-term investments in Eastern Europe are fulfilled by popular, national, as well as government banks (Bulgaria, Hungary) or specialized banks (Romania). The structure and functions of these banks systematically undergo changes. Thus, the investment bank "Prague" was approved in 1948 to 1950. He carried out funding and long-term lending to capital construction included in the state plan. In 1959, his functions were transferred to the State Bank.

Romania Investment Bank is a specialized bank for financing and long-term lending to industry, construction, communications, trade, with the exception of agriculture, food industry and water management.

In Japan, the issuance of long-term loans is carried out both public and private banks. For example, a Japanese Development Bank is engaged in lending to industry, construction, energy, transport, which is held in second place among the state credit institutions of the country. This bank entrusted preferential lending (under low interest and for a period of at least a year) sectors of the economy, in lending to which private banks are little interested (risk of mastering, greater capital intensity, capital turnover duration, lossibility of production, etc.). Significant difference between interest rates on bank loans and more profitable rates The market of loan capital is covered from the state budget.

Only in a few developing countries with a relatively developed capitalist sector of the economy there are investment banks: in Latin America - Argentina, Bolivia, Brazil, Mexico; In Southeast Asia - Malaysia, Singapore, Sianggan (Hong Kong - now as part of China), South Korea; In Africa - Ghana, Nigeria, as well as in some French franc countries. Investment banks exist along with regional development banks of developing countries: Asian Development Bank, dealing with long-term lending to the development of Asian and Pacific Development Projects; The Inter-American Development Bank, providing promoting the development of the economy of Latin America; The African Development Bank, promoting the economic development of African and several non-African states. International Credit Institutions: International Bank for Reconstruction and Development, Arab Investment Companies and other international organizations play a significant role in the implementation of investments of developing countries.

Since the main task of investment banks is financing and lending to investments, consider the concept and types of investment.

[Investments - long-term investments of capital in industry, agriculture, transport, construction and other industries. The purpose of investment activities is to receive entrepreneurial income or percentage.

Investments are divided into financial and real.

Financial investments - investments in securities (shares, bonds, etc.), manufactured by private companies and the state, as well as bank deposits and objects of thesorration (treasures, i.e. storage of money at home).

Real investments - investments in fixed assets and on the increase in material and industrial stocks. In the context of the modern scientific and technical revolution, along with an increase in real elements of fixed capital,

in the development of spiritual productive forces in the development of spiritual productive forces, the intellectual potential becomes the most active element of production, increasing the role of scientific research, qualifications, knowledge and experience of workers. The accumulation acquires a comprehensive nature, and the costs of science, education, training and retraining of personnel, etc. become productive investments.

There are also investments to expand and invest updates of consumed fixed capital.

The source of expansion investment is part of the newly created value directed to the accumulation. Entrepreneurs mobilize her at the expense of their own profits (self-financing) and in the market of loan capital (attracted funds). The source of investment of fixed capital updates are depreciation.

Real investments in fixed assets are characterized by sectoral and technological structures, whose proportions largely determine the efficiency of savings.

Shifts in the sectoral investment structure in all developed capitalist countries in the 50-70 GG. They were expressed in the advanced growth of their share in the manufacturing industries, primarily in mechanical engineering, construction, transport, communications. The lag at this time of investments in the extractive industry and the fuel and energy complex was one of the reasons for the energy-raw crisis of the 70s.

The technological structure of the investment is determined by the cost ratio of the active elements of fixed capital (machines, equipment) and its passive elements (buildings, structures). The effectiveness of investments is usually increasing with the growth of the share of the active part.

Investments in the reproduction of fixed assets, along with industry and technological structures of capital investments, are also characterized by territorial and reproductive structures.

The territorial structure of capital investments means their distribution in individual regions of the country with an increase in the share of investments in areas that give the greatest returns that have sufficient raw materials and energy resources and the necessary workforce.

The reproductive structure of capital investments involves the direction of them for new construction, on the technical

the re-equipment and reconstruction of the existing industries, since such costs ensure the acceleration of updating the current fundamental funds.

Reconstruction and technical re-equipment of enterprises make it possible to increase production volumes, improve product quality and other technical and economic indicators with less costs than in the construction of new enterprises. At the same time, the deadlines for entering new capacities are reduced by one and a half - twice. Given this, the scale of technical re-equipment and reconstruction of the current manufacturing office in recent years is systematically increasing. So, if in 1985 the share of capital investments for these purposes in industrial construction was 36%, then in 1993 - 51%.

The main share of real investments in developed capitalist countries is private investments. However, the state also participates in the investment process by investing in the public sector, both directly and indirectly through the provision of loans, subsidies, implementing economic regulation policies. The main part of public investment is sent to the infrastructure industry, the development of which is necessary to ensure the normal course of public reproduction (science, education, health, environmental protection, transport and communication).

In developing countries, investment growth is an indispensable condition for overcoming economic retardation. The state plays an important role in expanding the production potential of these countries, which is confirmed by a significant increase in public investment, the main areas of investment of which are the production and social infrastructure and manufacturing industry.

In order to carry out investment operations, investment banks mobilize long-term loan capital and provide its borrowers (entrepreneurs and the state) through the issuance and placement of bonds or other types of borrowed obligations. In addition, investment banks buy and sell stakes and bonds at their own expense, as well as provide loans to customers of securities.