Читать диплом по мировой экономике, международным экономическим отношениям: "Foreign banks in the Russian financial market" Страница 9

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Russia, in particular set of required reserves." In this same article prohibits the Bank of Russia to intervene "in the operational activities of credit institutions, except as provided by federal law."should be noted that the Russian credit institutions transactions in the futures market are carried out not only and not so much for its own account. To a large extent they are acting in the market as brokers, that is carrying out operations on behalf of, on behalf of and at the expense of investors, creditors and depositors shifting arising from the futures market risks in the past, not enough versed in the intricacies of it and pitfalls. At the same time the Bank of Russia as a regulatory authority is obliged to the banking system in accordance with Art. 55 of the Act to protect the interests of depositors and creditors.laws and regulations are extremely limited functions of the Bank of Russia in regulation, supervision and control over the activities of the forward market, on the one hand, the regulated - by credit institutions, on the other, - methods. In general, they are reduced to the establishment of mandatory standards and reporting rules (both accounting and statistical) for the banking system (Sec. 5, Art. 4 and Art. 56 of the Federal Law "On the Central Bank of the Russian Federation (Bank of Russia)"). The same article and n. 5, Art. 5 prescribe the Bank of Russia "to establish rules to conduct banking operations, accounting and reporting for the banking system."procedure to establish the Bank of Russia accounting operations conducted by credit institutions in addition to banking, the next. Bodies which federal laws entitled accounting regulation within its jurisdiction, shall promulgate regulations, mandatory for all organizations (legal entities) in the territory of the Russian Federation. However, their regulations must not conflict with regulations and guidelines of the Ministry of Finance. Only after that on the basis of acts adopted by the Bank of Russia establishes accounting for credit institutions engaged in the acts described in the business transaction.the absence of, firstly, the body which has the competence to regulate the activities of all organizations in Russia, conducting operations on the futures market, and secondly, a federal law that creates such a body and to grant him the right to develop regulations and rules applicable to the forward market and regulate accounting, in accordance with the Federal Law "On Accounting", this function should take the Government of the Russian Federation, provides overall methodological guidance of accounting in the country, or to delegate this right to the Ministry of Finance. .4 The role and place of foreign banks in the credit and stock market At present, we can say that the role of foreign investors to increase the capitalization of the Russian banking sector is becoming more visible. In 2008, the growth rate of non-resident investment in the authorized capital of operating credit institutions outpaced the growth rate of the total registered share capital of credit institutions. As a result, the share of non-residents in the aggregate authorized capital of credit institutions found an upward trend., it can be stated that the actual extent of the participation of foreign capital in the Russian banking system still remain modest. In comparison with the countries of Central and Eastern Europe the share of banking assets controlled by non-residents in Russia is much lower. As of October 1, 2005, the Bank effectively controlled by non-residents (more than 50% of the share capital) disposed of only 8.5% of total banking assets. In this case, attention is drawn to the fact that this share is in the last 5 years, a downward trend.in the share of non-residents in total assets was largely due to exceptionally high growth of assets of Russian banks, which quickly recovered after the 1998 crisis. In the period of 1999-2009 assets of Russian banks increased by more than 7 times. It is quite clear that against such unprecedented high growth scale business activity of banks with foreign capital, despite an increase in absolute terms, had a downward trend in relative terms.foreign banks, the current situation is largely a transition when the strategy of doing business in Russia can undergo dramatic changes. Statistical data fixes model of "cautious behavior" of foreign capital in the Russian banking sector. Its main feature is an essential imbalance between the potential competitive advantages of the subsidiaries of foreign banks and the real scale of their activities in the Russian banking market., in certain segments of the banking market, credit institutions with predominant participation of foreign capital is already playing a significant role. In particular, this applies to transactions in the interbank market. They account for 22.6% of loans, deposits and other funds placed with banks. Foreign banks are active in the market of corporate clients. They are concentrated in their hands 11.2% of funds raised by the entire banking system of the country, from companies and organizations. Despite the small share of citizens' deposits in foreign liabilities of banks (3.3% of the total amount of household savings) retail business already actively developing a number of banks controlled by non-residents.and projections indicate that the extent of participation of foreign capital in the Russian banking system, including through mergers and acquisitions, in the near future has increased significantly.situation for many Russian banks is further complicated by the fact that due to the widespread practice of cross-border provision of financial services to the best borrowers represented primarily export-oriented enterprises, go to foreign banks. Even now, it is estimated that approximately 45% of loans granted to enterprises by foreign banks. Due to the increase of the Russian sovereign debt rating to investment grade by three international

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