The notion of "banking system": on the verge of change

Unfortunately, the concept of the banking system of the Russian Federationinertia continues to be correlated with the transition economy. Not so simple. Outwardly stable, perhaps, there is only a two-level principle of its construction (the licensing activity of commercial banks is regulated by the Central Bank).

The content of the system itself, including the activities of the 112 largest systemically important banks, is now on the verge of substantial reform.

Despite the unfavorable forecasts for 2013,related to the decrease in lending volumes, a new strategy is being actively developed. Therefore, the concept of "banking system" today is not static. Her tools will change. The transitional model has exhausted itself. The banking system, as a component of the national economy, has reached the line of economic stabilization. This refers to the official statement of the country's achievement in the first half of 2007 of the economic level of 1990.

At the present stage, she becomes a missionarygiving liquidity to the entire industrial sector. The need to transform the concept and elements of the banking system is obvious. Capital investments in innovative technologies are an integral social mission of banks. It is gratifying that practical steps have already been taken in this direction. Overcoming the "vicious circle" of hard monetary approaches, constraining domestic production, the monetary policy changes.

The concept of "banking system" will soon bechange through a new mechanism of the "key rate", which now amounts to 5.5%. For comparison, the current refinancing rate is 8.25%. Mechanisms of interaction with the new rate of the national economy are being developed.

At the same time, we are witnessing "deliberation," that is, increasing state participation in the banking sector. Evidence of this is the emergence of municipal banks.

A possible development guideline for the domesticbanking system can serve as the banking sector of China. We are close to this model of a similar quota of state-controlled bank capitals - about 60%. The meaning is obvious. To overcome the economic crisis, the experience of mitigating interest rates, reducing the price of loans, and "soft" regulation of the money supply is in demand. The results of the PRC are eloquent: the growth rate to 2006 is 9.5%, and even now, under the conditions of the world crisis, 8% are "sky-high" for Western business. The modernized concept of the "banking system" of our eastern neighbor is based on two principles. First, a clearly defined and designated public sector of the banking system. Its basis is 4 state-owned banks (Bank of China, Industrial and Commercial, Construction Bank, Agricultural Bank).

Second, the "market" components of it, not"Erected on the ruins" of state, but harmoniously created in addition to the first. Also worthy of attention is not "breakthrough", but evolutionary empowerment of market institutions.

It is indicative that at present the Russian Central Bank is beginning to indicate the constructive position of the state with regard to the export of Russian capital.

The need to debug a transparent andclear currency regulation. One has only to recall the "sudden sight" of the outgoing capital outflow from Sergei Ignatiev, last year, in the amount of 48-49 billion dollars. Two times the amount (according to the estimates of law enforcement agencies and Interpol) is fraught with a "price" outflow on export-import schemes!

Increasing attention is paid toactivity of subsidiaries of foreign banks. The revival of consumer lending last year is their element. The quota of participation of foreign capital at a favorable conjuncture rose in April 2012 to 31%!

The fact that "foreign banks" help the state,serving money circulation, there is no doubt. However, today's "daughters" are quite transparent, they are net borrowers of the Russian market, which solve the problems of "giving birth" to their mother western structures, stimulating the outflow of capital through non-resident lending. As you can see, the concept of "banking system" is distorted due to this outflow.

All the above factors of capital flightofficially announced, of course, not in vain. Obviously, with the end of the transition phase and the formation of key market players, it's just "time" to seriously tackle this gap. However, everyone knows what exactly caused this negative. Artificially introduced "with a heavy hand" Navy changes in the federal law on currency regulation actually opened the door to our market currency speculators and untied the hands of criminal capital.

In conclusion, we note that the society pins great hopes on reforming the domestic banking system.