Деньги и кредит


Analysis and Assessment of Activity Indicators of a Regional Banking Sector

Ketova Irina

The article describes the author's definition of a regional banking infrastructure as a regional banking system. It contains the analysis and evaluation of the activity of the regional banking sector of Chelyabinsk region, the tendencies of its development. The analytical materials may be used by state and municipal authorities of the Chelyabinsk region for monitoring, analyzing, summarizing, planning and forecasting of socio-economic development of the region.

Banks in Regions (On the Results of the Discussion at the 15

Miliukov Anatoly

Comparing Institutional Structure of Russian and Chinese Banking Systems

Vernikov Andrey

We use statistical data for the period 2000-2013 to compare the macrolevel architecture and institutional features of the banking systems in China and Russia. Both countries have a hierarchical multi-tier banking system headed by a few core state-controlled banks that combine commercial activities with the activity of a development institution. We highlight selected aspects of the Chinese experience such as: conservatism in approving new banking licences; parallel evolution of various types of banking institutions operating in different market niches; care about systemically important institutions; enhancement of competition without a free market access for foreign banks; relevance of commercial bank loans for the fixed assets investment performed by non-financial companies.

Constructing Rating Groups of Retail Borrowers Using the Committee Method

Nikonov Oleg, Chernavin Fedor

This paper considers the application of the method of committees to build the model of internal credit ratings on consumer loans; compares the index Ginny model constructed using the method of committees, and the model constructed using the Logit-method. Calculation of frisk-weighted credit exposures is made.

Current Economic Situation in Russia: Development Path and Economic Policy

Aganbegyan Abel, Ivanter Viktor

Exchange Projects for Integrating FX Markets of the Eurasian Space and Developing Operations in National Currencies

Marich Igor

The article highlights integration processes and the rising demand for the use of national currencies CIS. The creation of an integrated currency market of the Eurasian Economic Space should enhance the role of national currencies. Formation of a single exchange space would generate direct market quotes and conduct exchange operations with national currencies directly without US dollar and euro, carry out cross-border payments in the national currencies.

Guarantee Support of Business - An Important Governmental Task (Interview with Head of the Credit Guarantee Agency)

Izotova Galina

Inflation Expectations and the Phillips Curve: Assessment Based on Russian Data

Sokolova Anna

This paper explores the nature of inflation expectations in Russia. This research question appears important because the features of these expectations largely determine the outcomes of disinflationary programs introduced by a central bank. The author studies the degree to which inflation expectations appear forward-looking or backward-looking. Based on monthly statistics for the period 1999-2013, the author applies the Generalized Method of Moments (GMM) to estimate the hybrid Phillips curve which includes proxies for both backward- and forward-looking components of inflation expectations and compares the impact of each component on inflation dynamics. The analysis suggests that to a large extent inflation expectations in Russia remain backward-looking. Hence, it is recommended to enhance agent’s confidence in the central bank’s policy before switching to aggressive inflation targeting.

Interbank Cooperation Channels as a Method for Ensuring Smooth Payment Services

Krivoruchko Svetlana, Lopatin Valery

The article considers the issues of smooth rendering of payment services by using the channels of interbank relations (CIR). The centralized, hierarchic centralized and decentralized schemes of CIR as well as operational, clearing and settlement types of CIR are marked out. The cases of ensuring of smooth rendering of payment services in card payment systems and transboundary money transfer systems are discussed.

On Bank of Russia Steering Short-term Money Market Interest Rate

Morgunov Viacheslav

This paper tries to describe and explain the main features of interest rate policy of the Bank of Russia under the corridor system. The central bank balance sheet and structural liquidity deficit are considered. The quality of the Bank of Russia’s forecasts of autonomous factors is assessed. The roles of open market operations and standing facilities are discussed.

Russian Ministers of Finance in 1914-1917 (On Organization of Government Finance on the Eve and in the Course of World War I)

Voskresenskaya Nina

The article analyzes the financial and economic views of Russian finance ministers of 1914-1917, including the relationship between the organization of public finance and behavioral characteristics of people, influence of the people's mentality on opportunities and obstacles to the efficient and effective taxation.

The Mint on the Outskirts of the Russian Empire

Zemskov Viacheslav, Mishchenko Valery, Uzhakin Sergey

Upgrading Internal Control System and Risk Management

Rudko-Silivanov Viktor, Lapina Karolina, Yunak Tatiana

The article describes current practice of internal control system organization in the Bank of Russia Territorial Branch of Primorsky Krai, and covers directions of its further improvement. The work also gives description of internal control system key elements, presents control procedures; describes software tools developed by the Promorsky Krai Territorial Branch of the Bank of Russia used for control in supervision.



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