Контрциклический буфер капитала банков: есть ли основания для применения в России?
Recently, the concept (концепция) of the countercyclical regulation in the financial sector has become key for the implementation of macroprudential policies in many countries, while a countercyclical capital buffer of banks is becoming a primary tool of regulation. The purpose of this research is to study the appropriateness and specifics of the countercyclical capital buffer application in the Russian banking sector on the basis of the analysis of the credit aggregates’ dynamics for the period 2004-2016 and in the medium term. The study conducted by means of the filtration method demonstrated that the most effective indicator of excessive lending inthe Russian economy was Credit-to-GDP, which gap dynamics witnessed a need for a possible activation of the capital buffer in 2007 and 2013. At the same time, the size of the buffer appeared to be insignificant, together with the activation period being short, which suggests the replacement of the buffer with alternative regulative tools. The minimum capital adequacy, taking into account the buffer, was not critical for the banking sector, however, some of the largest banks were vulnerable to the increased capital requirements. The results of this research might apply both to the implementation of macroprudential policy, and to the strategic management of capital adequacy in banks.
The monograph deals with the issues of macroprudential policy that is organically linked to the system of international banking regulation. The author looks into interrelationship between macro- and micro-prudential regulatory mechanisms, explores the role of macroprudential regulation in minimization of systemic risks, as well as the extent to which the effectiveness of macroprudential tools and techniques will help ensure stress resilience of the banking sector. The author also delves into the most disputable topics on the tradeoff between macroprudential regulation and monetary policy. Without doubt the monograph is a landmark book that expands the most complex topic of macroprudential policy in the post-crisis recovery, as well as the specifics of macroprudential regulation in the post-crisis banking regulation paradigm shift.
Monograph by S. Khasyanova «Upgrading Banking Regulation and Supervision in Russia in the line with International Standards» is devoted to the study of the development of banking regulation and supervision in Russia on the basis of international principles and standards. The process of implementation of international principles and standards of banking regulation in the Russian Federation and the following consequences are analyzed in the context of financial stability. Particular attention is paid to macroeconomic regulation and development of prudential regulations and requirements for banks, taking into account banking sector peculiarities. The regulation of systemic risk, identification of systemically important banks and applied to them a particular regulatory regime were investigated. The Deposit Insurance System and its role in enhancing the stability of banks as well as its directions of improvement are also considered in the study. The book is intended for professionals in the field of finance and banking, teachers and students of universities’ economic and financial departments.
The article’s thesis deals with the main strategies of banking internationalization and specifics of
Russian banks in the internationalization process. The research analyzes the factors influencing the decision of
Russian banks to enter foreign markets of certain countries. It was found that the Russian banks decision to enter
foreign markets is increasingly influenced by factors related to the strategies of using competitive advantages and
search for attractive markets. Also the thesis deals with the main entry modes into the markets of foreign countries
and analyzes the factors influencing the choice of entry modes by Russian banks. During analysis the results were
obtained that the choice of organizational forms by Russian banks is influenced by the factors of the parent bank, the
factors of the affiliate bank and the factors of the foreign market.
The article examines the experience of China's investment policy aimed at creating favorable conditions to attract investment, particularly foreign direct investments, to the most important country's industries. In recent years, this policy (the establishment of free economic zones, trade liberalization, the establishment of an appropriate legislative framework, state support for investors) has brought noticeable positive results, but with the beginning of the global financial crisis allowed to avoid the most painful consequences. This experience taking into account all its particularities can be useful for our economy.
Smoking is a problem, bringing signifi cant social and economic costs to Russiansociety. However, ratifi cation of the World health organization Framework conventionon tobacco control makes it possible to improve Russian legislation accordingto the international standards. So, I describe some measures that should be taken bythe Russian authorities in the nearest future, and I examine their effi ciency. By studyingthe international evidence I analyze the impact of the smoke-free areas, advertisementand sponsorship bans, tax increases, etc. on the prevalence of smoking, cigaretteconsumption and some other indicators. I also investigate the obstacles confrontingthe Russian authorities when they introduce new policy measures and the public attitudetowards these measures. I conclude that there is a number of easy-to-implementanti-smoking activities that need no fi nancial resources but only a political will.
One of the most important indicators of company's success is the increase of its value. The article investigates traditional methods of company's value assessment and the evidence that the application of these methods is incorrect in the new stage of economy. So it is necessary to create a new method of valuation based on the new main sources of company's success that is its intellectual capital.