Системи гарантування зобов'язань фінансових установ на сучасному етапі глобальних та регіональних трансформацій / Системы гарантирования обязательств финансовых учреждений на современном этапе глобальных и региональных трансформаций
The objective of this paper is to find out which banks the Russian households trust more and whether they really prefer to keep their savings in the institutions that they verbally prefer. Russian households traditionally trust state-controlled banks and particularly the national champion (Sberbank) at the expense of privately-owned deposit-taking institutions. The gap in the level of trust between state-controlled banks and all others remains deep and unlikely to disappear. There is little hope in self-sustaining business of private banks that would rest on the inflow of private savings at reasonable rates. The policy implication of this finding is that the authorities will face the dilemma of ever increasing the level of private savings protection under the deposit insurance scheme (as well as the resulting public costs) in order to keep the smaller market participants afloat, or give up on the idealistic drive to artifically enhance competition in the household savings market.
The paper suggests an original credit-risk based model for deposit insurance fund adequacy assessment. The fund is treated as a portfolio of contingent liabilities to the insured deposit-holders. The fund adequacy assessment problem is treated as an economic capital adequacy problem. Implied credit rating is used as the target indicator of solvency. This approach is consistent with the contemporary risk management paradigm and the recommendations of the Basel II Capital Accord. The target level of the fund corresponding to the target solvency standard is estimated in a Monte Carlo simulation framework using the actual data on the Russian banking system covering 1998-2005. Author acknowledges the generous support and fruitful discussions with representatives of the Russian Deposit Insurance Agency. The author expresses his personal views and not the views of the Agency.
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.
Further improvement of deposit insurance system in Russia should be based on the introduction of differentiated rates and payments which are contributed by banks to the insurance fund, taking into account the risks of their activities in accordance with the international experience in such systems. In this paper the method of determining the differential rates of insurance premiums contributed by banks in Russia is proposed, as well as the results of testing of this method on the example of different groups of Russian banks.
The article dealsthe following questions to answer: • Do any mechanisms of market discipline exist in Russian market for personal deposits? We analyze the quantitative mechanisms: disciplining by quantity and by maturity shifts. • Did the DIS introduction influence depositors’ investment strategies?