the system of relations in society regarding the formation and use of monetary funds in accordance with the functions and role of the categories included in finance.
Finance includes:
1. Public finances (state budget, taxes, state credit, off-budget funds, finances of state enterprises, state insurance)
2. Credit system (operations of the Central Bank, operations of commercial banks, issuance of money, commercial insurance system, investment funds, commercial pension funds)
3. Finances of industries (finances of organizations in the production sector, finances of enterprises in the non-manufacturing sector, finances of other economic entities)
4. Financial market (transactions with securities, transactions with precious metals and stones, real estate transactions, other transactions)
5. international finance (finance of transnational corporations)
Finance - economic relations that arise between economic entities in the process of formation, distribution and use of funds of funds.
Functions of Finance
The functions of any economic category characterize the type or types of activities carried out with its help. The functions of finance characterize the form of expression of their social significance; Finance functions include:
1. distribution (consists in the fact that with the help of finance, each business entity is provided with the financial resources it needs, in the conditions of commodity-money relations, distribution processes are carried out with the help of finance)
2. control (expressed through financial control over the quantitative and qualitative parameters of the processes of formation and use of financial resources)
3. cumulative (consists in the process of generating funds necessary for the functioning of any economic system)
4. regulatory (associated with state intervention through finances in the reproduction process)
5. stabilization (consists in providing stable conditions for all economic entities and citizens in economic and social relations)

The difference between the categories of finance and money
The economic content of finance is money. Money is a material form of finance, but it is inappropriate to identify the category of finance with cash.
Money is a category older than finance. Money is a commodity that plays the role of a universal equivalent, i.e. instrument of financial relations.
The emergence of finance is due to the emergence of the state. With the slave system, there was a need to perform the public functions of the state, on the basis of financial resources. Money is a universal equivalent that measures the costs of labor and other resources, and finance is a set of monetary, value relations associated with the formation and use of various monetary funds in the process of distribution and redistribution.
Finance as monetary relations.
Money relations result in financial relations. In turn, financial relations are:
1. monetary relations
2. distribution ratios
3. relations regarding the formation and use of financial resources
Those. finance associated with the movement of money, with economic monetary relations, i.e. are an economic category.

2. Functions of insurance.
The essence of insurance is the formation of a certain monetary or insurance fund and its distribution in time and space in order to compensate for possible damage or loss of its participant in case of accidents, natural disasters, etc., leading to the loss of material and other types of property and assets provided for terms of the insurance contract.
In the Russian Federation, there are three main forms of the insurance fund:
 the centralized insurance fund is formed at the expense of national resources in kind and in cash, and is managed by the Government;
 self-insurance funds are created by enterprises and organizations themselves in the form of reserve and insurance funds, risk funds; exist in cash and in kind;
 insurer's funds are created by specialized insurance companies by paying premiums, they exist only in cash.
The essence of insurance is manifested in its functions. Insurance performs the following functions:
- risk function - redistribution of risk between insurance participants;
- preventive function - the use of part of the funds to reduce the likelihood of an insured event;
- savings function - insurance is used to accumulate money (survival insurance);
- control function - control over the formation and use of insurance funds.

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Cash".

Money and finance differ sharply from each other in their content and in the functions they perform. Finances are economic relations associated with the formation, distribution and use of centralized and decentralized funds of funds in order to perform the functions and tasks of the state or an individual enterprise and ensure conditions for expanded reproduction, i.e. they have the value of a derivative of money.

Money is a means of payment for goods (services, works), a means of measuring value and a means of storing value. Money is a very complex economic category, the well-known phenomenon of money still remains a mystery: why does an increase in the number of banknotes in an individual increase his individual wealth, and an increase in the money supply in society as a whole does not contribute to an increase in the wealth of society?

Money is a sign of exchange, which participates as an intermediary in the exchange of one commodity for another.

Some modern Russian economists, i.e., economists of the Russian market economy, consider money to be one of the types of securities, a specific feature of which is the relative autonomy of their movement and the possibility of accumulation.

Money performs completely different functions than finance.

Finance performs three functions:

formation of cash funds and receipt of cash;
use of funds and cash;
control.

Some economists believe that finance performs only two functions: distributive and control.

K. Marx singled out five functions of money: a measure of value, a means of circulation, a means of payment, a means of accumulation and savings, world money. Moreover, as the first, he called the measure of value.

Over the past 150 years, economic science has stepped far forward. Many modern economists distinguish three functions of money:

medium of exchange;
a means of measuring value (i.e. a measure of value);
a store of value and store of value.

Consider the difference between finance and money in the following example.

A citizen lends money to another person. This means that the citizen transferred to another person a material thing in the form of a banknote. In other words, money is a thing that, like any other thing, can be lost, found, destroyed (torn paper banknotes).

But the relationship of a citizen who has lent money to another person is already a financial relationship. The citizen acts as a creditor, and the person who borrowed money acts as a borrower. Whether the lender will take a receipt from the borrower, whether he will take any thing as collateral, whether he will charge interest on money lent, and interest on failure to return money on time, etc. - all this is a financial relationship.

Finance (in the broadest sense) is a system of economic (monetary) relations, with the help of which monetary funds and funds of the state are created and spent, respectively. with their inherent functions. Money. wed-va are accumulated in den. Fund Finance - a set of objectively determined economic relations that have a distributive nature, a monetary form of expression and materialize in cash income and savings, formed in the hands of the state and business entities for the purposes of expanded reproduction, material incentives for workers, satisfaction of social and other needs. The term “finance” (finance) appeared in Western Europe in the 17th century and translated into Russian means “cash payment”. It is generally accepted to distinguish 4 signs of financial relations:

The monetary nature of Fin. relationships;

The distributive nature of Fin. relationships;

Fin. relations are always associated with the formation of both monetary income and savings, which take the form of financial resources.

2. Finances have their nature of monetary relations, however, the movement of funds between objects alone does not reveal the whole essence of finance. To do this, we need to consider the relationships inherent in finance, which also arise between objects:

1) enterprises (in the process of acquiring

inventory items, sales

products and services);

2) the state and enterprises (in the form of paying taxes to the budget);

3) the state and the population (as the payment of taxes

from individuals);

4) enterprises and insurance companies;

5) enterprises and banks;

6) enterprises and off-budget funds;

7) budgets of various levels.

Finances are economic relations associated with the formation, distribution and use of centralized and decentralized funds of funds in order to perform the functions and tasks of the state, to ensure conditions for expanded reproduction.

Finance functions: 1) distribution (distributes the created product; funds are created with the help of this function); 2) redistributive (redistribution of the created product, i.e. secondary distribution among members of society); 3) regulatory (finance can both stimulate production and inhibit it); 4) control (thanks to finance, society has the opportunity to observe all financial flows in the state in order to influence one or another product in time).

5. Compare finance and money categories

Non-specialists say: “Finance is money; the company's available cash. Money and finance differ sharply from each other in terms of their functions and content. Finances are economic relations that are associated with the distribution, formation and use of decentralized and centralized various funds of funds in order to fulfill the tasks and functions of an individual enterprise or state, as well as to ensure conditions for expanded reproduction.

Money is a means of payment for goods (works, services), a means of storing value and a means of payment for services. Money is a rather complex economic category, it still remains a mystery: why does an increase in the number of banknotes in an individual increase his individual wealth, while in society as a whole, an increase in the money supply does not contribute to an increase in the wealth of society?

Still money is a sign of exchange, which participates in the role of an intermediary in the exchange of goods for another. Some Russian economists, i.e., economists of the Russian market economy, consider money to be a type of securities, whose specific feature is the relative autonomy of their movement and the possibility of accumulation.

Money performs different functions than finance. For example, finance performs three functions:

1. use of cash and cash funds; 2. receipt of cash and the formation of cash funds; 3. control.

Some economists claim that finances perform only two functions: control and distribution.

K. Marx singled out five functions for money: a measure of value, a means of payment, a means of circulation, a means of savings and accumulation, world money. As the first, he always called the measure of value.

Over the past 150 years, economics has come a long way. Most modern economists distinguish three functions for money:

1. a means of measuring value (that is, a measure of value);

2. means of circulation;

3. a means of preserving and accumulating value.

Consider the difference between money and finance in the following example. Suppose a citizen lends money to another person. This means that a citizen transferred a material thing in the form of a banknote to another person. In other words, money is a thing that can be lost, found, destroyed (torn banknotes). But the attitude of a citizen who has lent money to another person is already a financial relationship. A person acts as a creditor, a person who has borrowed money - as a borrower. Whether the lender will take a receipt from the borrower, whether he will take any thing as a pledge, whether he will charge interest for money, and the like - all this represents a financial relationship.

The modern world evaluates the success of projects and investments in material terms, putting the economy at the forefront of the development of society. At the household level, we often confuse two categories: finance and money. They came from the economic sphere, but at the moment they have significantly changed their meaning. What is the difference between them and is it possible to consider these categories as synonyms in a certain sense?

Finance- economic relations associated with the collection, distribution and control of the use of funds. Their most important feature is a constant flow that never stops and does not stop. Finances arise in the process of cash flow and have different levels: international, state, regional, personal. Participants in legal relations form a kind of markets: currency, stock, money, where a wide range of tools is used to regulate behavior. In the philistine understanding, finance denotes assets that are concentrated in the hands of an individual or legal entity.

Money- a universal product accepted for payment for any product that is not prohibited for circulation in a certain territory. It can be used in cash and non-cash form, as well as an equivalent (precious metals and stones, real estate). Money is used to accumulate income, exchange goods, investments, stimulate financial and economic activity. The universal means of expressing their prices are currencies: convertible and non-convertible.

difference

The definitions of the categories indicate that the scope of the concept of "finance" is much broader and includes, among other things, commodity-money relations. Any transactions that take place between states, organizations and individuals in one way or another affect the GDP. Therefore, they are included in the volume of financial relations. In the US, replenishment of the budget and settlement with creditors takes place 24 hours a day, and if the inflow of funds is stopped, there is a threat of a technical default.

So, the most important difference between these categories is their functions. Money is used to determine the value of goods, savings, payments, foreign economic relations. Finance performs a control, distribution, stabilizing and regulatory function. If too much cash appears in circulation, it loses its value, and national banks pursue a policy of reducing it. If money instead of education goes to entertainment events, politicians redistribute financial flows by changing the spending functions of the budget.

Findings site

The scope of the concept. Finance is a narrower concept, which also includes monetary relations.
Origin. Money appeared at the dawn of modern civilization and was used as a universal commodity. Finance arose along with the centralization of state power and the development of economic institutions.
Functions. Money serves for accumulation, payment, determination of value, international settlements. Finance is designed to direct and redistribute cash flows, stabilizing prices, controlling income and expenses.
Certainty. Money can always be counted, the equivalent of a certain amount can be found and its expression can be found. Financial relations represent a set of cash flows, so it is not always possible to express them in any form.

Educational institution

secondary vocational education

"Oryol banking school (college)

Central Bank of the Russian Federation"

Department of Professional Disciplines

Course work

discipline: Finance, money circulation and credit

on the topic "Comparative analysis, structure and functions of the Russian and foreign credit system"

Students

Troshina Ekaterina Sergeevna

Supervisor:

Molchanova Elena Valerievna

Orel

Introduction

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

1.1 The concept of the credit system, its essence and functions

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

Section 2. Comparative analysis of the structure and functions of credit systems of foreign countries and Russia

2.1 Russian credit system

2.1.1 The structure of the Russian credit system and its characteristics

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

2.1.3 Banking and non-banking credit organizations, their functions and role in the credit system of the country

2.1.4 Specialized financial institutions, their functions and role in the credit system of the country

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

Section 3. Problems and improvement of the credit system of the Russian Federation

3.1 Problems of the modern credit system of the Russian Federation

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

Conclusion

Bibliographic list

Application

Introduction

Relevance. The credit system is a set of credit relations existing in the country, forms and methods of lending, banks or other credit institutions organizing and implementing such relations. It functions through a credit mechanism, which is a system of links: between credit institutions and various sectors of the economy for the accumulation of money capital and investment; between the credit institutions themselves on the redistribution of monetary capital within the framework of the capital market. By mobilizing money capital and concentrating investments in key sectors of the economy, the credit system contributes to the growth of production, scientific and technological progress, and ensuring a balanced economic development.

In a market economy, from time to time there is a situation where some entities have temporarily free cash, while others have a temporary need for additional funds. The credit system allows mutually beneficial resolution of this contradiction. Therefore, this topic is relevant in the modern world, as many take loans for a variety of needs.

The object of the study is the Russian and foreign credit systems.

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

The purpose of the course work is to conduct a comparative analysis of Russian and foreign credit systems.

To achieve this goal, the following tasks have been set:

Define the credit system, its essence and functions.

Present the structure of the credit system and show the roles of its subjects.

Identify the structure of the credit system in Russia and give its characteristics.

Show the role of the Bank of Russia in the credit system of the country.

Give a definition, explore the functions and role of banking and non-banking credit organizations in the credit system of the Russian Federation.

To characterize the specialized credit and financial institutions of Russia.

Conduct a comparative analysis of the structure and functions of the credit systems of foreign countries and Russia.

To designate modern problems of the credit system of the Russian Federation.

Determine ways to improve the modern credit system of the Russian Federation.

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

In the process of work, the following methods were used: complex analysis, concretization, generalization, comparative comparison, analysis of literature, normative documents, documentation.

The practical significance of the work lies in the fact that its main provisions and conclusions can be used to study the issues of the functioning of credit systems in more depth.

The structure of the work is determined by the logic of the study of the topic and is aimed at a consistent presentation of the research topic. The work consists of three sections.

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

The second section presents a comparative description of the Russian and foreign credit systems.

The third section examines the prospects for developing the credit system in Russia and increasing its efficiency.

The work includes 8 applications.

The total amount of work is 26 pages of typewritten text.

1. Theoretical foundations of the functioning of the credit system

1.1 The concept of the credit system, its essence and functions

The credit system is usually considered as a set of credit and settlement relations, forms and methods of lending, and as a set of credit organizations, or financial and credit institutions. The essence and functions of credit in its various forms are realized through the credit system. The credit system is closely connected with the monetary system, so they often talk about their combination - the monetary system. Traditionally, the credit system is considered in two aspects: functional and institutional.

From the point of view of the functional aspect, the "credit system" refers to the totality of credit relations, forms and methods of lending, that is, the credit system is represented by banking, commercial and consumer, state and international credit (Appendix 1).

From the point of view of the institutional aspect, the credit system is a set of credit institutions that create, accumulate and provide funds in accordance with the basic principles of lending.

The institutional component of the credit system is characterized by the following parameters:

type of banking system - single-level, or multi-level;

place in the economic system, economic role, functional purpose, organizational structure of the Central Bank;

place in the economic system, economic role, range of operations performed, specialization, degree of economic freedom, organizational structure of banks;

place in the economic system, the economic role of specialized financial and credit institutions and non-banking credit organizations, as well as state and non-state organizations exercising various types of control in this area (tax authorities, audit services, etc.);

The functional component of the credit system consists of the following elements:

The principles of the loan are repayment, urgency, payment, security, target character.

Credit functions - accumulating, redistributive, replacing.

Forms of credit - commercial, state, banking, consumer, international.

Lending methods - by balance, by turnover, individual, urgent, credit lines.

The subjects of credit relations are the lender, the borrower.

The credit system performs the following functions. Through credit, commodity circulation is serviced. The credit system accumulates or collects monetary savings and savings of enterprises, the population, the state, as well as foreign clients. Money funds are being transformed directly into loan capital and used in the form of capital investments to service the production process. As sources of capital to cover government and consumer spending, the state and the population are served. In addition, the concentration and centralization of capital is accelerating, and the formation of powerful financial and industrial groups is being promoted.

The central bank is the main part of the structure of the credit system. This organization is an intermediary between the state administration and banks. The main tasks of the central bank are: the issuance of banknotes, the conduct of the state's monetary policy, the management of the state's gold and foreign exchange reserves, and the implementation of monetary policy.

The banking sector is also one of the most important parts of the structure of the credit system. Currently, the banking sector is divided into savings banks, commercial banks, investment banks, mortgage banks, and specialized banks. The main task of banks is to issue loans to individuals and legal entities, attract funds from individuals to increase turnover, as well as maintain accounts and provide credit and cash services to legal entities.

The insurance sector also plays an important role in the modern structure of the credit system. In this sector, there are not only insurance organizations that provide various types of compulsory and voluntary insurance services, but also pension funds.

Specialized organizations representing the non-banking sector include various investment and financial companies, charitable foundations, trust companies, as well as savings and loan banks (Appendix 3).

This structure of the modern credit system is typical for most countries with developed economies, however, there are national features in the development of the structure of the modern credit system.

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

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

2.1 Russian credit system

.1.1 The structure of the Russian credit system and its characteristics

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

The Central Bank of the Russian Federation, by law, has the status of a legal entity. The key element of the legal status of the Bank of Russia is the principle of independence, which manifests itself primarily in the fact that the Bank of Russia acts as a special public law institution with the exclusive right to issue money and organize money circulation.

It is not a body of state power, however, its powers, by their legal nature, relate to the functions of state power, since their implementation involves the use of measures of state coercion. The Central Bank of the Russian Federation is a single centralized system with a vertical management structure. It includes the central office, territorial institutions (Main departments and National banks), cash settlement centers (RCC, GRCC), computer centers, field institutions, educational institutions and other organizations that are necessary for the implementation of the activities of the Bank of Russia (Appendix 4).

Like the central banks of other countries, the Bank of Russia primarily issues banknotes, banking supervision and monetary regulation of the economy. The performance by the Central Bank of its main functions implies the need for control and supervision over the activities of credit institutions. The Bank of Russia combines the implementation of monetary policy with supervision of the work of credit institutions, being, in fact, the only supervisory body in the country. The functions of the Central Bank confirm its status as an institution located in the very center of the country's banking system. The successful performance of the functions of the Bank of Russia is a condition for the effective development of the market economy of the Russian Federation.

In 2010-2012, the Bank of Russia was active in the field of banking regulation and supervision, ensuring the stability of the financial system, the stability and development of the national payment system, currency regulation and control, organizing cash circulation, improving accounting and reporting, international interaction and cooperation and others

Credit organizations. The concept of "credit institution" is enshrined by the legislator in the Federal Law "On Banks and Banking Activity", where a credit institution is understood as 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 . There are three types of credit institutions:

Bank credit organizations.

A bank is recognized as a credit institution that has the exclusive right to carry out the following banking operations in aggregate: attraction of funds from individuals and legal entities to deposits, placement of these funds on its own behalf and at its own expense on the terms of repayment, payment, urgency, opening and maintaining bank accounts of individuals and legal entities.

non-bank credit institutions.

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

Specialized credit and financial institutions.

These are specialized financial institutions that are engaged in lending to certain areas and industries. There are two main operations in their activities, they dominate relatively narrow sectors of the loan capital market and have a specific clientele.

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

The main link in the banking system of any state is the central bank of the country. The Central Bank of the Russian Federation is the main bank of the country. The functions and powers provided for by the Constitution of the Russian Federation and the Federal Law "On the Central Bank of the Russian Federation" are exercised by the Bank of Russia independently of federal state authorities, state authorities of the constituent entities of the Russian Federation and local governments.

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

The objectives of the activities of the Bank of Russia are:

protection and stability of the ruble;

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

Ensuring the efficient and uninterrupted functioning of the payment system.

Making a profit is not the purpose of the Bank of Russia.

The Law on the Central Bank contains a detailed list of activities of the Bank of Russia (Appendix 5). The difference between the goals of activity and functions is that the goals show the direction of the development of processes, and the functions are a set of certain powers and actions aimed at achieving the goals. Functions can be classified according to their economic content (aggregated functions):

The implementation of a unified state monetary policy is one of the most important functions of the Central Bank, which, in cooperation with the Government of the Russian Federation, develops and ensures the implementation of the main directions of a unified state monetary policy. Chapter VII of the Federal Law "On the Central Bank of the Russian Federation (Bank of Russia)" is devoted to it. The main monetary policy instruments of the Bank of Russia are: setting interest rates on Bank of Russia operations; required reserve ratios deposited with the Bank of Russia (reserve requirements); open market operations; refinancing of credit organizations; foreign exchange interventions; setting benchmarks for money supply growth; direct quantitative restrictions on refinancing and banking operations; issuance of bonds in its own name.

The monopoly implementation of the issue of cash, the organization of their circulation on the territory of the Russian Federation is one of the oldest functions of the Central Bank. It issues and withdraws cash from circulation, provides conditions for the production, storage, replacement of damaged coins and banknotes and their destruction, determines the procedure for conducting cash transactions.

The Bank of Russia, in accordance with the law, organizes the payment system, establishes the rules, forms and standards for making settlements on the territory of the Russian Federation, exercises supervision and supervision in the national payment system, and is itself a participant in it.

The Central Bank is the organizer of the refinancing system for credit institutions, the lender of last resort. The Bank of Russia provides lending in the following forms: Lombard credit; intraday credit (during the trading day) - type of credit for completing settlements; "overnight" credit (for 1 working day); loans secured by a pledge of bills of exchange and rights of claim under loan agreements of organizations in the sphere of material production and (or) bank guarantees (for a period of up to 6 months); loans secured by gold. In the context of the financial and economic crisis, the practice of refinancing is usually expanded. For example, in 1998-1999. The Bank of Russia issued stabilization loans, and in 2008-2009. unsecured loans. Their term has been extended to 1 year.

The implementation of the function of banking regulation and banking supervision includes making decisions on state registration and licensing of banking operations; documentary supervision - assessment and identification at an early stage of problems in the activities of credit institutions and taking measures to overcome the identified negative phenomena and trends; conducting inspection checks of the activities of credit institutions (their branches); prevention of insolvency (bankruptcy) of credit institutions and control over their liquidation; control over the issue of securities by credit institutions.

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

Acting as a financial agent of the Government, namely through lending to the state (only in the case of the adoption of the relevant budget law) and servicing the state internal debt and through servicing the accounts of budgets of all levels and extra-budgetary funds.

The implementation of the function of macroeconomic analysis and forecasting is carried out through: compilation, forecasting and analysis of Russia's balance of payments; analysis and forecasting of the state of the economy of the Russian Federation as a whole and by region, primarily monetary, monetary, financial and price relations; analysis and forecasting of the development of the banking system; monitoring of the most important enterprises in the real sector of the economy, etc. The importance of this function increases in the conditions of stabilization of the economic and political situation in the country.

In order to achieve the goals set for the Bank of Russia, it has the right to carry out banking operations and transactions with Russian and foreign credit institutions and the Government of the Russian Federation. The Law on the Central Bank defines the list of operations of the Bank of Russia (Appendix 6).

A comparative analysis of banking operations and transactions permitted by the legislation of the Central Bank of the Russian Federation and credit institutions allows us to draw the following conclusions. For the Bank of Russia, there are restrictions in the legislation that are not provided for credit institutions. In particular, the Bank of Russia's counterparties in operations and transactions can only serve under certain security and for a period of not more than 1 year (with the exception of unsecured loans issued during the financial and economic crisis). There are also restrictions on the financial and economic activities of the Bank of Russia, participation in the capital of other legal entities. Among other things, the Bank of Russia should be considered as an effective investor and distributor of resources among credit institutions. Efficient distribution is a condition for maximizing the accompanying development of the banking sector. Accordingly, it will be justified for the Bank of Russia to participate in any state social and economic policy measures that involve the banking sector, regardless of the current macroeconomic situation.

Thus, the goals, objectives, functions and operations of the Central Bank of the Russian Federation correspond to its essence. All those goals and objectives that the Bank of Russia faces and the powers granted to it are ultimately determined by the fact that the bank acts as a nationwide center designed to regulate money circulation in the country.

2.1.3 Banking and non-banking credit organizations, their functions and role in the credit system of the country

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

Banks are credit organizations that have the exclusive right to carry out the following banking operations in the aggregate: attracting deposits of funds from individuals and legal entities; placement of these funds on its own behalf and at its own expense on the terms of repayment, payment, urgency (crediting); opening and maintaining bank accounts of individuals and legal entities. Commercial banks accumulate and mobilize money capital, mediate loans, check settlements and payments in the economy, organize the issuance and placement of securities, and provide consulting services. Depending on the method of formation of authorized capital, commercial banks can be divided into joint-stock and share.

Three principles of lending have been established for credit institutions: the principle of repayment; the principle of urgency; payment principle.

Non-bank credit organization (NCO) - an organization that has the right to carry out certain banking operations. Permissible combinations of banking operations for NCOs are established by the Bank of Russia. Legislative requirements for non-bank credit institutions are lower than for banks, which is associated with a lower degree of risk in transactions.

In general, non-bank credit institutions can be divided into three main types: settlement non-bank credit institutions (NCOs), payment non-bank credit institutions (PNCOs), and non-bank deposit and credit institutions (NDCOs).

RNKO can carry out the following activities:

Opening and maintaining bank accounts of legal entities;

Making settlements on behalf of legal entities, including correspondent banks, on their bank accounts;

Collection of funds, bills of exchange, payment and settlement documents and cash services for legal entities;

Purchase and sale of foreign currency in non-cash form;

Making money transfers on behalf of individuals without opening bank accounts (except for postal orders);

RNKO is not entitled to: attract funds from individuals and legal entities in deposits; open and maintain bank accounts of individuals, carry out settlements on behalf of individuals on their bank accounts; buy and sell cash foreign currency; attract deposits and place precious metals, as well as issue bank guarantees. In other words, RNCO does not have the right to attract deposits and issue loans, it provides a system for settlements and transfers.

A paying non-banking credit organization has the right to make money transfers without opening bank accounts and other banking operations related to them. This type of NPO appeared with the release of the law "On the National Payment System". Compared to a settlement payment non-bank credit institution, a narrower range of transactions is allowed. It should provide a risk-free transfer system within the organization of instant, electronic, mobile payments.

NDKO can carry out the following banking operations:

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

Placement of funds attracted to deposits of legal entities on their own behalf and at their own expense;

Purchase and sale of foreign currency in non-cash form (exclusively on your own behalf and at your own expense);

Issuance of bank guarantees;

Carrying out activities in the securities market.

NDCO is not entitled to:

Attract funds from individuals in deposits (on demand and for a specified period) and legal entities in deposits on demand;

Open and maintain bank accounts of individuals and legal entities, as well as make settlements on them;

Engage in the collection of funds, bills, payment and settlement documents and cash services;

Buy and sell cash foreign currency;

Attract deposits and place precious metals;

To carry out money transfers on behalf of individuals without opening bank accounts.

In other words, NDCOs are not entitled to carry out settlement transactions, but they can carry out certain credit and deposit transactions.

Thus, current economic conditions revealed the problems of the banking sector, forced banks to revise their client policy, as well as their product line, and changed tariffs. The goal of the struggle for the client is the desire to increase their own liquidity, even at the expense of increased rates on funds raised, by providing free services. The need to "work off" the increased costs forces banks to adhere to more risky tactics of placing "temporarily free" funds.

2.1.4 Specialized financial institutions, their functions and role in the credit system of the country

Specialized financial institutions (SCFIs) or parabanking institutions are distinguished by their orientation:

a) either to serve certain types of clientele;

b) or for the implementation of mainly one or two types of services.

At the same time, specialized financial institutions (SCFIs) are characterized by dual subordination:

) specializing in any financial, insurance, investment or other operations, SCFIs are subject to the regulatory measures of the relevant departments.

The activities of specialized financial institutions (SCFIs) are concentrated for the most part on serving a small segment of the market and, as a rule, providing services to a specific clientele.

A special type of NCFU are postal savings institutions that form the postal savings system. One of the most important and oldest elements of this system are postal savings banks, which historically emerged as public institutions to attract funds from small depositors.

Postal savings institutions through post offices accumulate deposits of the population, receive and issue funds. Recently, in most countries, credit and settlement operations of postal savings institutions, typical for banks, are becoming more widespread, the boundaries between the provisions of banking legislation and areas of financial legislation regarding the subject of activity and types of services provided by various credit institutions are increasingly blurred.

Specialized financial institutions (NCFIs) include:

leasing companies, factoring companies, pawnshops, credit partnerships, societies and unions, mutual credit societies, insurance companies, investment companies (funds), pension funds, financial companies, settlement (clearing) centers.

Leasing companies - organizations, firms engaged in leasing operations. Leasing is a type of financial service, a form of lending for the acquisition of fixed assets by enterprises or very expensive goods by individuals.

Factoring is a complex of services for manufacturers and suppliers conducting trading activities on a deferred payment basis.

Pawnshops are credit institutions that issue loans secured by movable property.

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

Mutual credit societies (OVK) - a type of credit institutions, similar in nature of activity to commercial banks serving small and medium-sized businesses

Insurance companies - organizations providing insurance services, acting as an insurer, i.e. assuming the obligation to compensate the insured for damage in the event of an insured event. Insurance companies carry out insurance of life, health, property, liability, etc.

An investment fund is an institution that makes collective investments. Its essence is in the accumulation of savings of individuals and legal entities for joint investment, including portfolio investment, through the purchase of securities, and not real production assets. At the same time, due to the fact that the purchase of securities is carried out by a professional market participant, this allows minimizing the risks of private investors.

Pension Fund - a fund intended for the payment of old-age or disability pensions.

Financial companies are a special type of financial institutions that operate in the field of consumer credit.

A settlement and clearing organization is a specialized banking-type organization that provides settlement services to participants in the organized securities market.

Thus, the impact of credit institutions on the economy is extremely high, since it is they who ensure the functioning of the financial market, organize the redistribution of funds between individual enterprises, industries, territories, individuals and legal entities. With insufficient development of the credit system, the pace of economic development suffers, since enterprises, lacking resources for the development of production, cannot make up for it from credit sources. The successful development of the economy contributes to the development and strengthening of the credit system.

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

For clarity, let's consider the credit systems of the USA, Germany, Great Britain, Japan and the Russian Federation separately.

US credit system. The core of the US credit system is the Federal Reserve System (FRS) (Appendix structure.

Within the Fed, there are the following important bodies:

Fed Open Market Committee.

Federal Advisory Council (FAC).

FRS apparatus.

The liabilities of the Federal Reserve Banks are:

) from own capital created at the expense of share contributions of member banks;

) from banknote issue;

) from bank deposits, which are the reserves of banks - members of the Fed.

The concentration of commercial banks' cash reserves in the Federal Reserve Banks was a money-saving factor. The organization of the Fed contributed to the economy of cash in another way - thanks to the development of non-cash payments, which began to be carried out on a large scale through the Federal Reserve Banks. Congress decided that for the Fed to carry out its duties effectively, it must be independent of the executive and legislative branches of government. The Federal Reserve Act of 1913 established 12 separate federal reserve districts, each with its own federal reserve bank. In each of the 12 counties, Fed member banks are shareholders of their own Federal Reserve Bank. They elect 6 out of 9 directors of this bank.

Federal Reserve Banks are designed not to make a profit, but to supervise the bank - members of the Fed and participate in the implementation of monetary policy developed by the Board of Governors. The main active operation of the Federal Reserve Banks is the purchase of government securities. Compared to this, loans from the Federal Reserve Banks to member banks are insignificant. The Federal Reserve Banks are primarily creditors to the state. But the funds invested by them in government securities are ultimately used in the interests of corporations, as they are spent by the state to a large extent on paying government orders and buying goods.

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

) commercial banks,

) investment banks,

) mutual savings banks,

) banking houses.

The most common type of banks in the United States is a branchless bank - a bank without branches (branches). That is why the number of banks in the US far outnumbers the number of banks in any other country. However, the structure of the US banking system is changing all the time. Branchless banks still retain their importance, but the role of branches, bank holding companies and other organizational structures is increasingly increasing these days.

The German credit system displays a model of a relatively tight monetary policy, despite the broad political rights of the regions that are part of the federation.. Features are also related to the fact that all the main functions of financial intermediation are concentrated in universal banks (commercial banks and savings do not specialize in individual transactions, as credit institutions in the US and Japan do. At present, a highly developed banking system has been created in Germany. Control over its activities is carried out by the Federal Office of Control (subordinate to the Ministry of Finance).

Credit - financial institutions in Germany perform four important economic functions:

Regularly make payments on behalf of many clients, ensuring the functioning of the system of non-cash payment turnover;

Take on the risks of companies interested in obtaining loans;

Act as a link in raising capital for various periods; despite the fact that many depositors prefer short-term deposits, banks provide long-term financing for investments;

They accumulate funds for large loans due to many small deposits.

The German credit system is one of the most developed in Europe. Germany's reputation as the world's leading banking center is linked to the excellence of national legislation. The German credit system has a two-tier structure. At the first level of the credit system is the German Federal Bank.

On August 1, 1957, the Law on the German Bundesbank came into force, on the basis of which a new banking system began to function, headed by the German Bundesbank, with a central office in Frankfurt am Main and nine offices - the central banks of the states and 126 city branches. By law, the Bundesbank is a federal corporation. The authorized capital of the bank is wholly owned by the federal government. On the other hand, the bank in the performance of its activities is completely independent of the government.

The Bundesbank performs the following main functions:

is the emission center of the country;

is the currency center of the country;

carries out cash execution of the federal budget;

provides services to credit institutions;

is the settlement center of the country;

carries out monetary and credit regulation of the country's economy.

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

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

The UK banking system is two-tier. At the top level - the central bank, at the bottom - other banks: commercial (deposit) and specialized - trading, foreign, savings banks, accounting houses.

The key role of the Bank of England in the credit system is determined primarily by the fact that it serves as the emission and cash center of the country. The bank monopoly issues banknotes. Its obligations (both in the form of banknotes and in the form of deposits of other banks) are the monetary base of the entire credit system. Any bank considers deposits in the Bank of England as its cash reserve, since, if necessary, it can always withdraw funds from its account. By reducing or expanding the volume of its liabilities, the Bank of England affects the amount of cash reserves of banks and the money supply in circulation.

Bank of England:

Government advisor on monetary policy and its guide.

Is the banker of all other banks

Provides loans to the banking system

Is a government bank

Manages public debt.

Commercial banks in the UK are called deposit banks. They form the backbone of the banking system. Most of the operations of deposit banks are concentrated in six London clearing banks. They are so named because they are members of the London Clearing House.

Japan's credit system consists of three links: the Bank of Japan, commercial banks and financial institutions .. The Central Bank (Nippon Ginka) is the top level of the credit system, its chairman. The Bank of Japan carries out the issue of money, monetary policy, state-monopoly regulation of the economy and cash services for the treasury.

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

Public financial corporations also operate in industries where private banks have little interest in lending. There are 8 public corporations in Japan (Appendix 7). Insurance companies in Japan are private institutions for life insurance, as well as property insurance. They accumulate huge funds, which they use primarily for investments in securities. Stock companies specialize in transactions with securities. This segment of the country's financial market in modern conditions is changing very dynamically. Postal savings banks occupy an important place in the structure of the country's credit relations, accumulating the population's savings.

From the very beginning of its functioning, the credit system of Japan was subordinated to the tasks of the general socio-economic development of the country, the strategy of turning Japan into a world economic leader. This explains its specificity, which is expressed primarily in the active participation of the state in the banking business, in planning and regulating the economic development of the country. It is this feature that is often severely criticized by Western liberal economists. However, such a strategy greatly contributed to the transformation of a backward eastern country in the past into a modern prosperous state. The modern banking systems of South Korea and China are developing in the same direction.

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

The Russian banking system is formed by the Bank of Russia, the Bank of Foreign Trade of the Russian Federation (Vneshtorgbank), the Savings Bank of the Russian Federation (Sberbank), commercial banks of various types, as well as other credit institutions that have received a license to conduct banking operations. The core of our banking system is the Bank of Russia. The Bank for Foreign Trade carries out foreign economic activity and makes transactions in foreign currency. Vneshtorgbank is a joint-stock, controlling stake in this bank is owned by the Bank of Russia. Sberbank is also a joint-stock bank, and the Bank of Russia owns a controlling stake in the bank. By law, the state guarantees the complete safety of funds and other valuables of the population entrusted to Sberbank, and their issuance at the first request of depositors (demand deposit). This is the main difference between Sberbank and commercial banks. Sberbank performs almost all the same operations with monetary funds as commercial banks. Sberbank and commercial banks keep the money deposits of enterprises and the population, provide loans to legal entities and individuals and, thereby, increase the money supply in the economy.

Commercial banks in the Russian banking system play an executive role. Through commercial banks, the Bank of Russia implements financial policy. Each bank can operate only on the basis of a license issued by the Bank of Russia. The Bank of Russia may, on the basis of the law, take away the license from the bank - this acts as a decision to liquidate the bank. Banks have the right to open branches on the territory of the Russian Federation and abroad. Banks may form banking unions, interbank associations, associations. It is forbidden only to use these and other associations to reach agreements aimed at monopolizing the banking market and limiting competition in banking. Associations of banks into banking holding companies have become widespread in our country. Bank holding companies are firms that own an equity stake in one or more banks sufficient to exercise full control over them. Consequently, banking holding companies concentrate in one hand the process of managing a whole group of banks. This is beneficial for firms, since they have the opportunity to receive a loan from these banks in the shortest possible time, if necessary.

For the most part, commercial banks are joint stock (there is an insignificant share of cooperative banks), and their shares are traded on the securities market along with the securities of industrial enterprises.

All banks must keep their required reserves with the Bank of Russia, since the bulk of the bank's assets are termless deposits subject to withdrawal at the first request of depositors, a certain percentage of assets must be kept in reserves, in a highly liquid form. The activities of banks are annually subject to audit by audit organizations.

3. Problems and improvement of the credit system of the Russian Federation

3.1 Problems of the modern credit system of the Russian Federation

The peculiarities of the Russian credit system at present are in the clear predominance of commercial banks, a weakly diversified structure (the number of types of other credit institutions is limited), unclear legislative regulation of other credit institutions that are not included in the banking system, and the lack of unified approaches to supervising their activities, low the quality of management in a number of credit institutions, including the inefficiency of risk management and internal control systems, the weak development of modern banking technologies. In addition, one can note a constant decrease in the number of credit institutions (from 1476 in 1999 to 958 in 2012).

Moreover, the decrease in the number of credit institutions is mainly due to a decrease in the number of small credit institutions with an authorized capital of up to 150 million rubles. (from 1426 in 1999 to 290 in 2012). This shows the difference between the credit system of Russia and the credit systems of other countries (Appendix 8).

Another feature of the Russian credit system is the fact that, with a general decrease in the number of banks in Russia, since 2005. there is a sharp increase in the number of large banks with an authorized capital of 150.0 million rubles. and above and amounts to 01.01.2012. 668 banks, as well as the fact that the bulk of assets (74.9%) falls on the 30 largest banks in Russia.

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

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

Today, many banks are undergoing the following transformations:

Banks unite in order to increase and preserve capital, i.e. there is a merger of capital;

Large banks buy smaller banks, ie. absorption occurs.

Banks are closed due to bankruptcy or due to the inability of small banks to comply with the requirements of the Central Bank in terms of work and the size of the authorized capital, i.e. self-destruction or liquidation is carried out. Interbank loans are beginning to play an increasingly important role in shaping the resources of commercial banks. However, they have significant shortcomings - the lack of efficiency in the redistribution of funds, limited in size and timing. These shortcomings can be eliminated by attracting the resources of the Central Bank as a lender of last resort or a lender of last resort.

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

A powerful, well-functioning national credit system is the key to the successful development of the Russian economy. The process of formation of the credit system revealed certain problems and shortcomings in all its structural links. Therefore, in Russia it is necessary to develop and implement a system of measures that would allow solving three interrelated tasks. First, to improve the credit climate in the country as a whole. Secondly, to ensure the equalization of credit conditions, the availability of resources for enterprises in different regions. And, finally, to create a mechanism that allows the state to regulate financial flows, including credit, to direct them to solve priority economic problems - to modernize the economy, develop and introduce modern technologies into production.

It is necessary to develop mechanisms that will provide favorable conditions for attracting capital to credit organizations. It is advisable to establish a number of sectoral development banks, as well as to reorient large credit institutions with state participation to predominantly finance science-intensive and manufacturing industries. With regard to other banks, it is required to pursue a flexible policy aimed at developing specialization and concentration of banking capital. Gradually changing the legislation, it is necessary to structure the banking system in such a way that some of the credit institutions specialize in settlements, some in various types of loans, and some in investment activities. At the same time, friendly mergers between banking structures should be encouraged in order to increase the degree of concentration of banking capital. To solve these problems, it is necessary to unite the efforts of the legislative and executive authorities and, of course, the entire banking community.

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

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

Conclusion

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

In the course of writing the work, the structure and functions of credit systems in Russia and abroad were considered, which allows us to draw the following conclusions:

The credit system has a dual nature: it is a set of credit institutions and credit relations, forms and methods of lending in accordance with the basic principles of lending.

The Central Bank is the main part of the structure of the credit system, which also includes the banking sector, which enters into credit and financial relations with individuals and legal entities. Insurance organizations, pension funds, investment and financial companies, charitable foundations, trust companies and savings and loan banks support the normal functioning of the country's credit system.

The Russian credit system consists of the banking system and specialized financial institutions. The Central Bank is a special public law institution of the first level, having a single centralized system with a vertical management structure, which has the right to apply state enforcement measures to exercise its powers. Second-tier credit institutions include banking credit institutions, non-bank credit institutions and specialized financial institutions, each of which performs its own range of banking operations.

The Central Bank of Russia is the main bank of the country and the central link of its banking system. Its activities are aimed at developing and strengthening the banking system of the Russian Federation, ensuring the stability of the ruble and the smooth functioning of the payment system, and not at making a profit. All of its property and charter capital are federal property, and it is an efficient investor and distributor of resources among credit institutions in Russia.

Banks are endowed with the exclusive right to accumulate and mobilize money capital, provide loans, and issue securities. Non-bank credit organizations, in turn, have the right to carry out payment, settlement, credit and deposit operations.

Specialized credit and financial institutions operate under the instructions of the Central Bank or other departments. They ensure the redistribution of funds between participants in financial and economic relations.

A comparative analysis of the structure and functions of the credit systems of foreign countries and Russia shows that, based on the experience of foreign economies, it is possible to improve some aspects of our national credit system, which will allow the Russian economy to successfully develop and meet all modern requirements of the economy.

The credit system of the Russian Federation is currently facing a constant decrease in the number of credit institutions and the consolidation of already large banks. The territorial unevenness of the credit system complicates its functioning.

In order to improve the national credit system of Russia, it is necessary to follow three directions - to improve the credit climate in the country, to ensure the equalization of lending conditions, and to develop mechanisms for the successful distribution of capital.

Thus, the credit system functions through the credit mechanism. It includes all aspects of the lending, investment, founding, intermediary, advisory, accumulation, redistribution activities of the credit system represented by its institutions

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

Nevertheless, according to all indicators, the Russian banking system lags far behind developed countries. Despite the high growth, the volume of loans issued does not correspond to the tasks of economic growth facing the country. In industrialized countries, the system of state regulation of the credit system is a complex, effective and rather controversial mechanism. However, it took shape for a long time, having passed the stages of adaptation and structural changes.

Bibliographic list

The Constitution of the Russian Federation (adopted by popular vote on December 12, 1993) [Electronic resource]: official. text

Federal Law No. 86-FZ of July 10, 2002 "On the Central Bank of the Russian Federation (Bank of Russia)", as amended [Electronic resource]

Federal Law No. 395-I of 02.12.1990 "On Banks and Banking" as amended [Electronic resource]

Golikova, Yu.S. Organization of the activities of the Central Bank [Text]: textbook / Yu.S. Golikova, M.A. Khokhlenkov. - 2nd ed., revised. and additional - M .: INFRA-M, 2012.

Krolivetskaya, L.P. Banking: credit activity of commercial banks [Text]: study guide / L.P. Krolivetskaya, E.V. Tikhomirov. - M.: KNORUS, 2009.

Muravieva, Z.A. Financial and credit systems of foreign countries [Text]: educational methodological complex. 2nd ed., revised / Z.A. Muraviev. - M.: MIU, 2006.

Rudko-Silivanov, V.V. Organization of the activities of the central bank [Text]: textbook / V.V. Rudko-Silivanov, N.V. Kuchina, M.A. Zhevlakova. - M.: KNORUS, 2011.

Borisov, S.M. Russian ruble in international settlements: geography and statistics // Money and credit. - 2011. - No. 12.

Ilyasov, S.M. On the prospects for the development of regional banking systems // Banking. - 2012. - No. 4.

Materials of the Bank of Russia [Electronic resource]. - Access mode: http//www.cbr.ru

credit bank financial russia

Annex 1

State credit system

Rice. 1. Scheme "Credit system of the state"

Annex 2

The structure of the credit system

Rice. 2. Scheme "Structure of the credit system"

Appendix 3

Hierarchical structure of the credit system

Rice. 3. Scheme "Hierarchical structure of the credit system"

Appendix 4

Organizational structure of the Bank of Russia

Rice. 4. Scheme "Organizational structure of the Bank of Russia"

Appendix 5

Functions of the Bank of Russia


	in cooperation with the Government of the Russian Federation develops and implements a unified state monetary policy
	monopoly issues cash and organizes cash circulation
	approves the graphic designation of the ruble in the form of a sign
	is a lender of last resort for credit institutions, organizes a system of their refinancing
	establishes the rules for making settlements in the Russian Federation
	carries out supervision and supervision in the national payment system
	establishes the rules for conducting banking operations
	maintains accounts of budgets of all levels of the budgetary system of the Russian Federation, unless otherwise established by federal laws, by carrying out settlements on behalf of authorized executive bodies and state non-budgetary funds, which are responsible for organizing the execution and execution of budgets

	decides on the state registration of credit institutions, issues banking licenses to credit institutions, suspends them and revokes them
	supervises the activities of credit institutions and banking groups
	registers the issue of securities by credit institutions in accordance with federal laws
	carries out independently or on behalf of the Government of the Russian Federation all types of banking operations and other transactions necessary to perform the functions of the Bank of Russia
	organizes and implements currency regulation and currency control in accordance with the legislation of the Russian Federation
	determines the procedure for making settlements with international organizations, foreign states, as well as with legal entities and individuals
	establishes accounting and reporting rules for the banking system of the Russian Federation
	establishes and publishes official exchange rates of foreign currencies against the ruble
	takes part in the development of the forecast of the balance of payments of the Russian Federation and organizes the compilation of the balance of payments of the Russian Federation
	takes part in the development of the methodology for compiling the financial account of the Russian Federation in the system of national accounts and organizes the compilation of the financial account of the Russian Federation

	analyzes and forecasts the state of the economy of the Russian Federation as a whole and by region, primarily monetary, monetary, financial and price relations, publishes relevant materials and statistical data
	makes payments by the Bank of Russia on deposits of individuals in bankrupt banks that do not participate in the system of compulsory insurance of deposits of individuals in banks of the Russian Federation, in the cases and in the manner provided for by federal law
	is a depository of the funds of the International Monetary Fund in the currency of the Russian Federation, carries out operations and transactions stipulated by the articles of the Agreement of the International Monetary Fund and agreements with the International Monetary Fund
	performs other functions in accordance with federal laws

Appendix 6

Banking operations and transactions of the Bank of Russia

provide loans for a period not exceeding one year secured by securities and other assets, unless otherwise provided by federal law on the federal budget

provide unsecured loans for a period not exceeding one year to Russian credit institutions with a rating of at least the established level. The list of rating agencies, the ratings of which are used to determine the creditworthiness of the borrowers, and the required minimum indicators of the relevant ratings, additional requirements for the borrowers, as well as the procedure and conditions for granting the relevant loans are established by the Board of Directors

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

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

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

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

conduct settlement, cash and deposit transactions, accept securities and other assets for storage and management

issue guarantees and bank guarantees

carry out transactions with financial instruments used to manage financial risks

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

issue checks and bills of exchange in any currency

carry out other banking operations and transactions on its own behalf in accordance with the business practices adopted in international banking practice

carry out banking operations with legal entities that do not have a license to carry out banking operations, and individuals, with the exception of cases provided for by the Federal Law

acquire shares (stakes) in credit and other organizations, except as otherwise provided by the Federal Law

carry out transactions with real estate, with the exception of cases related to ensuring the activities of the Bank of Russia and its organizations

engage in trade and production activities, with the exception of cases provided for by the Federal Law

roll over granted loans. An exception may be made by decision of the Board of Directors