They are part of the banking system of the Russian Federation. Banking system of the Russian Federation

Bank concept comes from the Italian language, and translated means bench, table. Banchieri was the name given to money changers and moneylenders in medieval Italy.

Bank- This financial institution which carries out various types of transactions with money and securities. Banks are financial and credit institutions that provide financial services to the government, individuals and legal entities. Bank properties:

• making a profit;
• carrying out banking operations;
• opening and maintaining bank accounts for individuals and legal entities;
• activities based on a state license;
• lack of rights to engage in trading, manufacturing or insurance activities.

Types of banks not numerous: central banks and commercial ones. Central banks- regulate the banking system at the state level, including the issue of national currency. Commercial banks conduct business activities in the banking system.

There are three types of commercial banks:

• investment banks (investments, securities);
• savings banks (deposits, deposits);
• universal (all types of banking activities).

Functions of banks.

1. Storing client money: the first historically, and still one of the main functions of the bank.
2. Transfer of money from one client to another by bank transfer (by changing the relevant records).
3. Loans(loans have a stimulating effect on the production sector of the economy and on entrepreneurship; in addition, another positive aspect of this function is the creation of additional money supply).
4. In the resources of banks, attracted and borrowed capital prevails over their own, which entails increased responsibility to client depositors and creditors.
5. Simultaneous work with clients from different fields of activity, including with opponents (competitors).

Bank resources consist of equity capital and borrowed funds. Equity capital is a bank's reserve fund, a means of protection in the event of a bank's loss of liquidity and the need to return deposits. Own capital consists of:

• authorized capital (the minimum amount of bank property);
• funds from profits;
• additional capital (income from the sale of securities, exchange rate differences and differences in the revaluation of fixed assets).

Raising funds from bank resources is:

• deposits of individuals and legal entities;
• interbank loans;
• bank bills and bonds.

Banking system.

Banking system is a complex of all types of national banks and credit institutions. Structure of the banking system consists of two levels.

At the top level is the central or issuing bank, which regulates the activities of the entire system. At the lower level commercial banks(universal and specialized - investment, savings, mortgage, credit, etc.).

The main elements in the infrastructure of the banking system:

• legislative norms;
• regulations for transactions;
• accounting, reporting and database processing;
• structure of the management apparatus (management).

Banking infrastructure is something without which the banking system cannot develop normally; it represents for banks the same regulator of behavior as moral and legal norms for humans.

Speaking about banks and the banking system, one cannot fail to mention the concept bank secrecy- a kind of code of honor for the bank. In some countries, all bank employees are prohibited from disseminating information about clients, their accounts and the movements of funds.

Banking system Russian Federation is a set of interrelated elements that includes the Central Bank, credit organizations consisting of commercial banks and other credit and settlement institutions, sometimes united within holding companies, as well as banking infrastructure and banking legislation. The Federal Law of December 2, 1990 “On Banks and Banking Activities” defines the concept of the banking system as follows: the banking system of the Russian Federation includes the Bank of Russia, credit organizations, as well as branches and representative offices of foreign banks.

Russian banking system has a two-level structure. The first level is represented by the Central Bank of the Russian Federation. The second level includes banks and non-bank credit organizations, as well as branches and representative offices of foreign banks.

To the first level refers to the Central Bank of the Russian Federation, the type of functions and powers of which distinguish it from other banks. First of all, this is the establishment and methodological support of the rules for carrying out and accounting for banking operations, issuing cash (issue), organizing payment circulation, licensing banking activities and supervising all credit organizations, regulating banks and other credit organizations through accounting, reserve policies and establishing for them mandatory economic standards. Due to its functional purpose, the Central Bank of the Russian Federation occupies a special place in the banking system.

Second level The banking system includes credit organizations. These include: a bank and a non-bank credit organization, Russian banks with foreign capital or branches of foreign banks. The main purpose of credit institutions is to conduct banking operations for credit, cash settlement and deposit services for clients and entities economic relations.

The Russian banking system was created with the adoption of two laws of the Russian Federation on December 2, 1990: “On the Central Bank of the RSFSR (Bank of Russia)” and “On banks and banking activities in the RSFSR”.

Composition of the Russian banking system:

· Central Bank of the Russian Federation (Bank of Russia);

· credit organizations;

· branches and representative offices of foreign banks.

Central Bank of the Russian Federation is the main bank of the Russian Federation. The legal status of the Bank of Russia and its relationships with banks and other credit organizations are determined by the fact that, on the one hand, the Bank of Russia is endowed with broad powers to manage the monetary system of the Russian Federation, and on the other hand, the Bank of Russia is a legal entity entering into certain civil legal relations with banks and other credit organizations.

To the number main goals and functions Bank of Russia in accordance with the Constitution of the Russian Federation (Article 75) and the Law on it (Articles 3 and 4) include:

· protecting and ensuring the stability of the ruble, including its purchasing power and exchange rate in relation to foreign currencies;

· development and strengthening of the banking system of the Russian Federation;

· in cooperation with the Government of the Russian Federation, development and implementation of a unified state monetary policy aimed at protecting and ensuring the stability of the ruble;

· monopoly of the issue of cash and organization of its circulation;

· implementation of currency regulation and currency control, etc.

The Bank of Russia carries out banking regulation and supervision over the activities of banks and other credit institutions, takes measures to protect the interests of depositors; To ensure the stability of the banking system, it creates an insurance fund through mandatory contributions from credit institutions.

The Bank of Russia has the right:

provide Russian and foreign credit organizations, the Government of the Russian Federation with loans for a period of no more than one year, secured by securities and other assets;

· carry out a wide range of other banking operations, serving not only credit organizations, but also representative and executive bodies of state power, authorities local government, their institutions and organizations, state extra-budgetary funds, military units, military personnel, employees of the Bank of Russia, as well as other persons, in cases provided for by federal laws;

· bring claims to the arbitration court for the liquidation of legal entities carrying out banking operations without a license.

In accordance with the legislation, the Bank of Russia exercises control for the legality and feasibility of creating banks and non-bank credit organizations. This control is carried out in the process of considering the issue of registering a credit organization, issuing and revoking a license for the right to carry out banking operations both in rubles and in foreign currency.

Credit organisation- this is a legal entity that, in order to make profit as the main goal of its activities, on the basis of a special permit (license) of the Central Bank of the Russian Federation (Bank of Russia), has the right to carry out banking operations.

A credit organization is prohibited from engaging in production, trade and insurance activities.

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

Banks- these are credit institutions that have the exclusive right to carry out the following banking operations:

Attracting deposits Money individuals and legal entities;

Placement of these funds on your own behalf and at your own expense on the terms of repayment, payment, urgency (lending);

Opening and maintaining bank accounts for individuals and legal entities.

Non-bank credit organizations- these are credit institutions that have the right to carry out certain banking operations provided for by law. The combination of these operations is established by the Bank of Russia.

The bank is foreign recognized as such by law foreign country, in whose territory it is registered.

The amount (quota) of foreign capital participation in the country's banking system is established by federal law at the proposal of the Government of the Russian Federation, agreed with the Bank of Russia.

In the economy of any state, the banking system plays one of the main roles. It acts as an intermediary during the movement of money and credit transactions between sellers and buyers, lenders and borrowers. We will consider the characteristics of the banking system of the Russian Federation in this article.

What it is?

The banking system in Russia is a legally approved set of financial intermediaries in the money market engaged in banking activities.

The concept of the banking system of the Russian Federation can be understood as the interaction between the Central Bank, commercial banks and other credit and settlement organizations. This is stated in the Federal Law of December 2, 1990 “On Banks and Banking Activities”.

The banking system does not appear spontaneously. This is not just an association of financial institutions, it is a well-planned concept in which each type of bank has its own special role.

Kinds

Before analyzing the basis of the banking system of the Russian Federation, it should be noted that all world systems are divided into two types:

1. Centralized.
2. Market.

In the first case, there are only one or a few state-owned banks and many branches in the country. This can be called a state monopoly on this type of activity.

In the second case, there are many banks in the state, which differ from each other in their form of ownership, operations performed and other characteristics. At the same time, the activities of financial organizations are strictly regulated by the law of the country. The banking system of the Russian Federation belongs to this type.

In addition, all banking systems are divided into single-level and two-level. In the first case, all banks in the system perform the same functions, including issuing ones. There is no clear hierarchy between financial organizations. This is characteristic of the historical stage of development.

Commercial banks in Russia

In the structure of the banking system of the Russian Federation, commercial banks are considered all financial organizations that provide services to individuals and legal entities. Services mean:

• issuance of any loans;
• operations with precious metals;
• transactions with foreign currency;
• issue of bank cards;
• Money transfers;
• carrying out cash management operations;
• collection services;
• maintaining bank accounts;
• performance bank guarantees;
• working with deposits and paying interest on them.

Commercial banks conduct activities aimed at attracting profit, in contrast to the Central Bank, whose main function is regulation. Commercial banks can be either private or public. According to their forms of ownership, they are divided into joint stock, cooperative and joint.

There are several more classifications in the banking system of the Russian Federation:

• by scale and volume of capital: large, medium and small;
• by the nature of the operations performed: highly specialized and universal;
• by place of service: regional, all-Russian and international;
• with and without foreign capital;
• with or without branches.

Large banks play a special, “financially forming” role. They tend to have a large number of clients and a good volume of assets. These are organizations such as Sberbank, Alfa Bank, VTB, Gazprombank, Raiffeisenbank and others.

Non-bank credit organizations (NPOs)

There are three types of such organizations:

1. RNKO - settlement non-bank credit organizations. They provide legal entities and individuals with settlement and cash services. In addition, such organizations may engage in foreign exchange transactions. These include: companies engaged in clearing, settlement centers of payment systems and settlement centers of foreign exchange and stock markets.
2. PNCOs are payment non-bank credit organizations. These include any payment systems: WebMoney, Qiwi, Unistream, as well as payment systems of telecom operators.
3. NDKOs are non-bank depository and credit organizations. This includes structures that can raise money only from legal entities, while they do not have the right to service and open bank accounts. As well as those organizations that work with individuals: microfinance structures, credit unions and cooperatives.

Important! Non-bank organizations that attract deposits do not participate in the deposit insurance system, so clients who decide to keep their savings in them are at quite a big risk. Non-banking institutions are similarly at risk of having their licenses revoked.

Types of banking services

Commercial banks produce a variety of products to help clients meet their needs. Let's look at the main ones:

1. RKO. The most popular service and one of the main sources of cash flow to the bank. Available to both legal entities and individuals.
2. Deposit. Thanks to deposits, the bank attracts a large amount of borrowed funds. For clients, this service is a financial tool that helps them save and increase their free money. The depositor leaves funds in the bank for a certain period at an agreed interest rate. The bank uses the money raised in financial transactions from which it makes a profit. There are time deposits and demand deposits. Distinctive characteristics deposits are the deposit term, interest rate, possibility of prolongation, early withdrawal of funds.
3. Credit. This service is available to all clients. The loan can be used by both individuals and legal entities. Banks offer loan products on different conditions, negotiated individually with each client. The most popular product is a long-term loan. This is a long-term loan provided upon provision of a certain package of documents.
4. Plastic cards. A huge number of people use this service. Banks offer debit and credit cards. You can use them to pay for purchases, services, and make non-cash payments. The cardholder usually pays a fee to the bank for servicing the account.
5. Internet banking. Most banking services can be performed without leaving your home, provided you have the Internet and a connected service. The capabilities of transactions carried out may vary among different banks. The larger the company, the more functionality is open to the client. The fact is that the development of such software requires large investments.
6. Leasing. The essence of the service is that the bank leases a certain type of property for an agreed period, while retaining ownership rights. The client receives the required property and pays the percentage specified in the contract.
7. Bank cells. This is a kind of safe, for the use of which the bank charges a certain commission. Financial companies guarantee their clients complete confidentiality. Banks do not check the property deposited in the safe deposit box. It is individual for each client. If funds are stored in a safe, no interest is accrued on them, unlike deposits.
8. Transactions with precious metals and securities.

Loans, deposits and cash management services are the most popular types of banking services.

Banking infrastructure

All levels of the Russian banking system cannot fully function without a well-functioning infrastructure. This includes:

1. Deposit insurance system. With its help, depositors do not have to worry about their savings stored in banking organizations. It also serves as an incentive for citizens to keep money in bank accounts. As a rule, not only deposits are insured, but also funds for debit cards, though not in all banks. Only DIA - Deposit Insurance Agency - can insure.
2. Independent settlement systems between corporate and private clients of banking organizations, as well as between the banks themselves. For example, the SWIFT system.
3. Systems that help make payments using plastic cards: MasterCard, VISA, MIR, American Express, etc.
4. Organizations conducting audits of all banking organizations, including the Central Bank.
5. Legal and consulting structures that help banks resolve issues that arise when interacting with clients.
6. Implementation organizations modern technologies into the banking system of the Russian Federation. Thanks to them, the security of transactions is increased and settlement processes are simplified.
7. Training centers providing training and retraining for employees of banks and financial organizations.

Banking legislation

This is another element of the Russian banking system. This includes everything legislative acts regulating the work of financial organizations:

1. Constitution of the Russian Federation.
2. Civil Code.
3. Banking Law No. 395-1 (adopted in 1990).
4. Law on the Central Bank of the Russian Federation No. 86-FZ (adopted in 2002).
5. Deposit Insurance Law No. 177-FZ (adopted in 2003).
6. Law on the National Payment System No. 161-FZ (adopted in 2011).
7. Law on consumer credit No. 353-FZ (adopted in 2013).

Functions of the banking system of the Russian Federation

The main functions can be identified:

1. Transformational. The point is that banks can change the timing and size of monetary capital, as well as regulate financial risks by attracting funds from some entities and lending to others. Both commercial banks and the Bank of Russia can perform this function.
2. Money creation and regulation of the money supply. The central bank can influence the amount of money available to other banks to carry out active operations. This is done by decreasing or increasing the interest rate. In this way, it is possible to effectively manage money depending on changes in demand for it.
3. Ensuring the stability of banking activities and the money market. Financial activities always associated with great risks. After all, banks exist only due to borrowed funds. Therefore, the bankruptcy of any financial organization can affect the economic situation throughout the country.
4. Stabilization function of the banking system of the Russian Federation. This includes the adoption of bills that regulate the work of banks, as well as the creation of effective control and supervision of financial organizations.

Principles

The country's legislation enshrines the principles by which the banking sector should be organized. These include:

• principle of two-level structure;
• principle of universality of banks.

The first principle is implemented through a clear separation of the functions of the Bank of Russia and other financial organizations. The Central Bank, being at the highest level, performs the function of supervision and regulation of the work of commercial banks, and also performs the function of settlements in the country. To perform these duties, he can carry out all necessary banking transactions.

The Central Bank cannot carry out banking operations with legal entities that are not credit companies, and with individuals other than the military and its employees. This means that at the legislative level it does not have the right to participate in the banking market, cannot issue loans and should not compete with commercial banks.

All other financial organizations form the second level of the system. They act as intermediaries in payments, loans and investments, and cannot develop and implement monetary policy. In their work, they build on the parameters adopted by the Bank of Russia: interest rates, inflation rates and others. They must also comply with all necessary norms and requirements of the Central Bank. For example, capital level standards or reserve requirements.

The second principle means that all banks operating in the Russian Federation have universal capabilities. This suggests that any commercial bank can carry out various types of banking operations that are provided for by law and license. The legislation does not divide banks by types of operations performed.

Universality helps credit institutions reduce risks by expanding services. Thanks to this principle, the bank can comprehensively serve its clients and develop new services that take into account the needs of certain groups of the population.

We can say that the principle of universality satisfies the needs of the country's economy and creates favorable conditions for the development of the banking system.

The role of the Russian banking system in the economy

The economy is now a complex system, each section of which is connected to the other and is important. The banking sector plays an important role here. She's at the stage modern development economic relations, ensures the normal functioning of the entire economy of the country.

Today the banking system must:

1. Collect free money.
2. Produce an emission.

IN modern world Banks play a huge role in the country's economy. With the help of this sphere, the formation and development of the economic and political power of the entire state is possible. We can say that banks today are an economic instrument in the hands of the government. But, unfortunately, only the Bank of Russia is directly subordinate to the state; other banks can only listen to its recommendations.

Until recently, banking activities in our country were regulated by the policies of the CPSU. But after all the political transformations, many non-state banks appeared in Russia, the work of which is regulated by economic laws, the Central Bank and imperfect legislation. But this does not stop the development of the banking system; now it is happening at a rapid pace.

Despite the peculiarities of the banking system of the Russian Federation, Russian credit organizations occupy a strong place in the domestic capital market, and also open their branches abroad. Of course, the expansion of the territorial borders where our banks are located has a positive effect on the country’s economy, but still the emergence of a full-fledged banking system is still far away.

The role of the banking sector in a market economy is very large. And all the changes taking place in it lead to economic changes in the country. That is why great importance should be given to the proper organization of the banking system.

Current situation

IN last years The banking system of the Russian Federation is actively developing. The conditions for banking services have become more transparent, credit institutions are striving to be open to clients. Advanced technologies are constantly being introduced: Internet banking, money transfers, various cards and much more. New offers appear on favorable conditions on lending.

Despite this, the Russian banking system lags noticeably behind other countries and does not meet the economic challenges facing the country. A huge number of people do not use banking services. According to statistics, about 25% of Russians have bank accounts. In developed countries, by comparison, every adult has them. Not many people use bank cards, whereas in other countries there are 1-2 cards for each resident. The issue of introducing banking services in the regions is also acute.

The reasons for the problems of the banking system of the Russian Federation include the following:

1. The Russian economy is supported by the oil industry, so the government does not pay enough attention to the growth of the banking sector. At the moment, a model of the system necessary for the country has not been created, and there are no conditions for its development. This has a negative impact on the organization of the banking system of the Russian Federation.
2. The system is unattractive to investors, and its capitalization is low.
3. The level of monetization of the country's economy is low, which also hinders the development of the system.
4. There is no protection of commercial banks from the state, and they are the center of the entire banking system.
5. The infrastructure is not developed enough.
6. A large number of funds pass through the banking system.

All banking systems are usually divided into types. According to the degree of centralization of management and the nature of interaction between banking organizations, they can be centralized (administrative) and market. Centralized banking systems exist in a command economy and are characterized by a state monopoly on banking. Essentially, in such a situation, the country has one or more state-owned banks with many local branches. The market banking system is based on various forms ownership of banks. It involves the functioning of many banks, differing in organizational form, specifics of operations, etc. Banking activities are supervised and regulated primarily by economic methods.

In addition, depending on the subordination of elements, banking systems are divided into one-level and two-level. A one-tier banking system operates if its member banks are at the same hierarchical level, and there is no division of functions or subordination between them. Such a system was characteristic, for example, of the historical stage of development, when central banks did not yet exist in countries and only commercial banks operated, which performed all banking functions, including emission. A two-tier banking system currently exists in most countries of the world. It includes the central bank, which forms the first, upper level of the system, and commercial (business) banks, which form the second, lower level.

The modern banking system of Russia is market-based and consists of two blocks - the Central Bank of the Russian Federation and commercial banks.

The Central Bank of Russia is the central bank of the state

Ensuring the sustainability of the national monetary unit;
- organization money circulation, settlements and currency relations;
- protecting the interests of creditors and depositors by defining the rules for the activities of commercial banks and monitoring their compliance;
- promoting economic development, creating a single market for the country and its integration into the world economy.

The Central Bank of Russia regulates the activities of commercial banks in order to create general conditions for their functioning and introduce the principles of fair banking competition. The Central Bank does not interfere in the current activities of commercial banks. The regulatory and control functions of the Central Bank are aimed at maintaining the stability of the monetary system. To this end, it determines the procedure for the formation by banks of funds intended to cover possible losses, and also establishes a number of economic standards for them, including: the minimum amount of authorized capital; balance sheet liquidity indicators; the amount of required reserves placed with the Central Bank of the Russian Federation, etc.

Commercial banks in Russia

It is prohibited to carry out activities in the field of material production, trade material assets, all types of insurance.

As in other countries, banks in the Russian Federation are not liable for the obligations of the state, and the state is not liable for the obligations of banks, except in cases provided for by law.

Banks in Russia can be created on the basis of any form of ownership: private, collective, joint-stock, mixed, state. To form the authorized capital of Russian banks, it is allowed to attract foreign investment. Such banks can be joint (their authorized capital is formed from the funds of residents and non-residents) and foreign (their authorized capital is formed exclusively from the funds of non-residents).

According to the method of forming the authorized capital, banks are divided into joint-stock (open and closed type) and shares. It should be noted that the current stage is characterized by the transformation of mutual banks into joint-stock banks and the creation of new banks in the form joint stock companies.

For the purpose of prompt credit and settlement services for clients geographically remote from the location of a commercial bank, it can organize branches and representative offices. Bank branches are separate structural divisions located outside its location and performing all or part of its functions. A branch is not a legal entity. He concludes contracts and conducts other economic activity on behalf of the commercial bank that created it.

The main purpose of the bank's representative offices is to represent its interests, provide protection, and study the banking services market in a certain territory. Representative offices are not legal entities and do not have the right to carry out banking operations.

The current state of the Russian banking system

However, in all respects, the Russian banking system lags significantly behind developed countries. Despite the high growth, the volume of loans issued does not correspond to the economic growth challenges facing the country. In the structure of sources of financing capital investments of Russian enterprises, the share of bank loans remains insignificant compared to developed countries - only 8-10% (USA - 40%, EU on average - 42-45%, Japan - 65%). Most of the population is not included in the banking system. According to statistics, in Russia only 25% of Russians have bank accounts, while in Western European countries the entire adult population has bank accounts. Less than 10% of the population uses plastic cards, while in developed countries there are 1-2 cards for each resident.

The issue of saturation of regions with banking services is acute, because consumer lending, mortgages, and bank cards are popular only in major cities.

Among the reasons for the low level of development of the banking system, economists name the following:

1. Due to the fact that economic growth in Russia is supported mainly by energy exports, the state should not pay attention to the development of the banking sector. A clear model for building the banking system necessary for the state has not yet been formulated; the necessary conditions for its development.

2. The Russian banking system is not an investment-attractive area; its capitalization is at an unacceptably low level.

3. Low level of monetization of the economy, which hinders its development and the development of the country as a whole.

4. Insufficient development of infrastructure for providing banking services.

5. A significant share of cash circulation and financial flows of the state that pass outside the banking system.

6. Lack of adequate protection from the state of commercial banks, which are the central element of the entire credit system of the country, etc.

Literature:

1. Lavrushin O. “Banking”, 2006
2. Tosunyan G. “Banking of Russia”, 2008.
3. Kravtsova G. “Money. Credit. Banks", 2007

One of the conditions normal functioning A modern market economy is the presence of a clearly organized banking system. The banking system is one of the most important elements economic system states. The banking system of the Russian Federation has a two-level structure: the first level is the Bank of Russia; second level - commercial banks, non-bank credit organizations.

The Central Bank of the Russian Federation (Bank of Russia), is the most important element of the country's banking system, has a great impact on the functioning and vital activity of the state and society. The development of the economy, the functioning of government bodies and institutions, and the very existence of a sovereign state directly depend on how effective the activities of the country’s central bank are. The Bank of Russia is not part of any of the three branches of government - legislative, executive and judicial. In terms of status, it is relatively independent in its activities. Federal government bodies, government bodies of constituent entities of the Russian Federation and local self-government bodies do not have the right to interfere in the activities of the Bank of Russia in the implementation of the functions and powers legally assigned to it. The Central Bank of the Russian Federation is accountable to the State Duma of the Federal Assembly of the Russian Federation (Article 5 Federal Law about the Bank of Russia). According to this article, the State Duma: appoints and dismisses the Chairman of the Bank of Russia on the recommendation of the President of the Russian Federation; considers the main directions of the unified state monetary policy and makes decisions on them; reviews the annual report of the Bank of Russia and makes a decision on it, etc.

The modern banking system of Russia has a two-level structure. It includes the Bank of Russia, which represents the top level of the banking system, and credit organizations, branches and representative offices of foreign banks - the second level.

In accordance with the Law “On Banks and Banking Activities” as amended on February 3, 1996, credit institutions include legal entities that, in order to make a profit as the main purpose of their activities, on the basis of a permit (license) of the Central Bank of the Russian Federation, have the right to carry out banking operations provided for by law.

Bank is a credit organization that has the exclusive right to carry out the following banking operations in total:

• 1. attracting funds from individuals and legal entities into deposits;
• 2. placing these funds on your own behalf and at your own expense on the terms of repayment, payment and urgency;
• 3. opening and maintaining bank accounts for individuals and legal entities.

A non-bank credit organization is a credit organization that has the right to carry out certain banking operations provided for by law. Acceptable combinations of banking operations for non-bank credit institutions are established by the Bank of Russia.

Credit organizations may create unions and associations that are prohibited from conducting banking operations. The purpose of their activities is not to make a profit, but to protect the interests of member organizations and coordinate their efforts in various areas. In the Russian Federation, the largest is the Association of Russian Banks (ARB).

The modern banking system of Russia has a two-level structure. It includes the Bank of Russia, which represents the top level of the banking system, and credit organizations, branches and representative offices of foreign banks - the second level.

In accordance with the Law “On Banks and Banking Activities” (source), credit institutions include legal entities that, in order to make a profit as the main purpose of their activities, on the basis of a permit (license) from the Central Bank of the Russian Federation, have the right to carry out banking operations provided for by law.

In the Russian Federation, there are two types of credit organizations: banks and non-bank credit organizations.

A bank is a credit organization that, according to Russian legislation, unlike all other financial intermediaries, has the exclusive right to carry out the following banking operations in aggregate:

Attracting funds from individuals and legal entities into deposits;

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

Opening and maintaining bank accounts for individuals and legal entities.

The main purpose of the bank is to mediate the movement of funds from lenders to borrowers and from sellers to buyers.

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

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

Secondly, banks are distinguished by accepting unconditional obligations with a fixed amount of debt to legal entities and individuals. This is how banks differ from various investment funds, which distribute all risks associated with changes in the value of their assets and liabilities among their shareholders.

In addition to banks, banking operations can also be carried out by organizations called non-bank credit organizations.

A non-bank credit organization is a credit organization that has the right to carry out certain banking operations provided for by law. Acceptable combinations of banking operations for non-bank credit institutions are established by the Bank of Russia.

The Russian banking system also includes branches and representative offices of foreign banks. By a foreign bank A bank is considered to be recognized as such under the laws of the foreign state in whose territory it is registered. The ban on the opening and operations of foreign banks in the Russian Federation was lifted on January 1, 1996. The activities of branches and representative offices of foreign banks are subject to the legal regulation of banking activities in Russia.

Credit organizations may create unions and associations that are prohibited from conducting banking operations. The purpose of their activities is not to make a profit, but to protect the interests of member organizations and coordinate their efforts in various areas. In the Russian Federation, the largest is the Association of Russian Banks (ARB).

The principle of a two-tier structure is implemented through a clear legislative separation of the functions of the central bank and all other banks.

The Central Bank of the Russian Federation, as the top level of the banking system, performs the functions of monetary regulation, banking supervision and management of the payment and settlement system in the country.

The Central Bank is an independent but state-controlled credit organization whose main tasks and functions include:

• - ensuring the stability of the national currency, minimizing inflation (issuing cash and organizing its circulation), determining the system, procedure and form of payments, developing and implementing a unified monetary policy, regulating money circulation, currency regulation and currency control;
• - ensuring the efficiency and stability of the banking system (state registration, issuance and revocation of licenses of commercial banks, establishment of rules accounting, organization of banking audit, supervision of the activities of banks, lender of last resort of commercial banks, conducting banking operations on behalf of the Government).

The organizational and legal form of the Central Bank is a unitary bank with 100% state participation in its capital.

He can carry out banking operations necessary to perform these functions only with Russian and foreign credit organizations, as well as with the Government of the Russian Federation, representative and executive bodies of state power, local governments, state extra-budgetary funds, and military units. The Bank of Russia does not have the right to carry out banking operations with legal entities that are not credit institutions, and with individuals (except for military personnel and employees of the Bank of Russia). It cannot directly enter the banking market, provide loans directly to enterprises and organizations, and must not participate in competition with commercial banks.

Commercial banks and other credit organizations form the second, lower level of the banking system. They mediate payments, lending and investing.

Commercial banks are the main channels for the practical implementation of the Central Bank's monetary policy. The Central Bank of the Russian Federation establishes mandatory rules for commercial banks for conducting and regulating credit operations and money circulation.