The article adheres to the objective to analyze parameters of the BRICS Contingent Reserve Arrangement which may be important for BRICS's Official international reserves. The calculated indicators of Official International Reserves adequacy and its dynamics show that all the BRICS suffer from negative terms of trade shocks and external financing. They highlight specific BRICS problems, such as speculative growth of money demand in Russia and Brazil, in India growing public debt, in South Africa shallow finance market. So far the BRICS Pool is intergovernmental it adheres to universal principals and practice of lending. It distinguishes with such settlements elements as no common account for reserve assets, swap-covered borrowing, enlarged potion of free of IMF's terms financing. Thereof, it also would bear the conversion and interest risks, which BRICS may facilitate to freed lending from specific terms of accesses and use it to cover trade deficit.
This paper attempts to analyze the current global economic situation and to examine the current international monetary and financial system from the point of view of development. The most important deficiencies found are the pro-cyclical and volatile nature of private financial flows, boom and bust cycles in developing and transition economies caused by monetary policy changes in developed countries, accumulation of private debt that turns into a public one during crises, as well as the lack of a sovereign debt-restructuring mechanism, and the paradox of enormous liquidity coupled with large long-term financing gaps. Reform measures to deal with these problems are suggested.
Prokofyev Vilen, Batuyeva Anna
The article examines trends in lending, interest rates and non-price terms of lending to small and medium business, the reasons for their changes. Changes in priorities in the Russian banks' credit policies during the economic turbulence of 2014-2015 led to contraction of lending to the most vulnerable segment of business - small and medium-sized enterprises and individual entrepreneurs.
The publication deals with some methodological aspects of conducting audit for credit institutions of the banking system in the Russian Federation in accordance with the STO BR IBBS standard requirements (version 2014). It is noted that in the evaluation process (or self-assessment) credit institution can generate numerical indicators of the level of information security with the required frequency. In addition, on the basis of numerical indicators formation become possible planning strategic (tactical) level improvements and identifying areas that require priority changes. An important factor is the possibility of modeling the priority of changes in the selected areas in order to provide the best performance of the M
Starting from 2014 Russian commercial banks shifted to the estimation of a bank capital amount and its adequacy in accordance with the international capital standards of Basel III. Before the introduction of the new capital standards in Russian Federation banking practice, numerous experts pointed out the arising problem associated with the replacement of the capital sources which do not comply with the new capital quality requirements. Therefore, in this article the quality of banks' capital sources is examined. The analysis is made from the official date of a mandatory publication of «Сalculation of Сapital» under the new Basel III requirements of capital estimation.
In the article questions of crediting of the agricultural enterprises are considered. On concrete examples the author discloses features of the analysis of creditworthiness of the borrowers - agricultural commodity producers. The research reflects the practical party of work of banks in crediting of agriculture. The appreciation of the features of crediting of agrarian and industrial complex allows banks to minimize risks of a non-return of credits.
Slepov Vladimir, Chekmarev Vadim
The article is devoted to research of the shadow financial flows in the economic system. The classification of the shadow financial flows in accordance with their areas of distribution on the criminal, the hidden and non-tax is implemented. The peculiarities of the shadow flows in each of these spheres are revealed. The factors of their formation and development, as well as the basic mechanisms of redistribution financial flows between the legal sphere of the economy and each of the shadow areas are determined. The preconditions for development of the effective mechanism for combating shadow financial flows in the modern economy are formed.