Central banks and the basics of their activities. The concept and forms of central bank independence. Central banks, the basics of their activities and functions Central and commercial banks, the basics of their activities

From the point of view of ownership of capital, central banks can be divided into state, joint-stock, mixed.

State banks are banks whose capital belongs to the state.

Some central banks were originally created as state banks. For example, the German Federal Bank (Deutsche Bundesbank), established in 1957, like its predecessor, the Reichsbank (1875). One such central bank is the one established in 1860. State bank, which later became the central issuing bank of Russia. Other central banks were first private (such as the Bank of England (1694), Bank of France (1800) and then were Nationalized.

Joint-stock banks - banks whose capital was the contributions of the founders.

A prominent representative of joint-stock central banks is the US Federal Reserve System (FRS), established by the Federal Reserve Act in 1913. The capital of the Federal Reserve Banks is formed from shares of private commercial banks that become members of the FRS. Despite the joint-stock form of organization, the Fed is one of the most important government institutions, the leadership of which is appointed by the president of the country.

Mixed central banks are banks in whose capital, together with the state, the private sector participates.

Among the central banks of this group, for example, the Bank of Japan, founded in 1882. According to the Law of 1942, only 55% of the authorized capital of the bank belongs to the state

The Central Bank performs the following main functions:

• exercises a statutory issuance monopoly over banknotes (nationwide credit money), which are the universally recognized final means of repaying debt obligations;
• is a "bank of banks" (commercial banks are required to keep part of their cash reserves in the central bank, these reserves are mandatory). The Central Bank sets the minimum ratio of required reserves to banks' liabilities on liabilities;
• is the banker of the government (the accounts of the government and government departments are opened in it, sometimes the central bank carries out cash execution state budget);
• carries out monetary regulation and ensures the stability of the national currency. The management of the value of money occurs through the management of the money supply (volume of money). As instruments of monetary policy for managing the money supply, central banks are: the minimum reserve policy; discount and pawn policy; open market policy.

Bank of Russia:

• in cooperation with the Government of the Russian Federation develops and implements a unified state monetary policy aimed at ensuring the stability of the ruble;
• monopoly issues cash and organizes its circulation;
• is a lender of last resort for credit institutions, organizes a refinancing system;
• establishes the rules for making settlements in the territory Russian Federation; holding banking operations, accounting and reporting for the banking system;
• carries out state registration of credit organizations; issues and revokes licenses of credit organizations and organizations involved in their audit;
• carries out all types of banking operations;
• carries out currency control and currency regulation, including operations for the purchase and sale of foreign currency;
• determines the procedure for settlements with foreign states;
• takes part in the development of the forecast of the country's balance of payments and organizes its compilation;
• conducts analysis and forecasting of the state of the country's economy, monetary and monetary and financial relations.

The main functions of the Bank of Russia are the licensing of banking activities, control over the activities of credit institutions, the implementation of currency regulation and currency control. Currently, the Bank of Russia is pursuing a strict policy of revoking banking licenses from credit institutions in the following cases:

• establishing the unreliability of the information on the basis of which the license was issued;
• delays in the commencement of banking operations provided for by the license for more than a year from the date of its issuance;
• establishing facts of unreliability of reporting data;
• carrying out banking operations not provided for by the license;
• failure to comply with the requirements of federal laws, as well as regulations of the Bank of Russia;
• unsatisfactory financial position of the credit institution, its failure to fulfill its obligations to depositors and creditors.

The purchase of government bonds in most countries is the main or even the only form of lending to the government in Russia to cover the budget deficit. Direct lending to the government to cover the budget deficit is prohibited by law in the USA Canada Japan Great Britain Switzerland Sweden Russia. The Central Bank of the Russian Federation The Central Bank of the Russian Federation The Bank of Russia was established on July 13, 1990 on the basis of the Russian Republican Bank of the State Bank of the USSR and was originally called ...

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Topic 13. Central banks and the basics of their activities

13.2. Central Bank of the Russian Federation

13.1. Forms of organization and functions of central banks

The emergence of central banks in some countries is historically associated with the centralization of banknote emission in a few of the most reliable banks. The state actively contributed to this process by issuing relevant laws and gradually concentrating emissions in one bank. In other countries, central banks were deliberately created by the state. AT XIX - early XX centuries, the issue in most countries was concentrated in one bank, which became known ascentral issuing bank, and at the present stage -central bank.

Forms of organization of central banks.

In terms of capital ownership, central banks are:

• statewhose capital belongs to the state (Australia, Argentina,UK, Germany, India, Ireland, Spain, Canada, Netherlands, New Zealand, Norway, Russia, Finland, France, Sweden);
• joint-stock, whose capital is owned by private shareholders ( USA, Italy);
• mixed - joint-stock companies, part of the capital of which is owned by the state or local government bodies (Austria, Belgium, Greece, Mexico, Turkey, Chile, Switzerland, Japan).

Some central banks were immediately formed as state banks (Germany, Russia), others were created as joint-stock companies and then nationalized (Great Britain, Spain, Canada, France).

All central banks have close ties with the governments of their countries. However, the government cannot limitlessly influence the policy of such a bank, since eachcentral bankin accordance with the laws of the countryis legally independent: its property is isolated, and the central bank disposes of it as an owner.

The degree of independence of the central bank from the government in different countries is different.

Banks accountable by law to Parliament enjoy greater independence.(Holland, Russia, USA , Sweden, Switzerland), smaller - accountable to the Ministry of Finance (most of them).

Functions of central banks.

In most industrialized countries, the central bank performs five main functions:

1) monetary regulation, or the conduct of monetary policy (influence on the supply and demand of money, the level of bank liquidity, interest rates, exchange rates, the volume of loans);

2) monopoly issue of banknotes(in some countries - and coins, but usually the ministry of finance or the treasury is engaged in minting coins, from which the central bank buys them at face value and puts them into circulation);

3) bank of banks (that is, its clientele are only commercial banks as intermediaries between the central bank and the country's economy);

4) government bank(as a cashier, creditor, financial advisor and government agent);

5) foreign economic(as a conductor of the state monetary policy and a currency control body).

Methods of monetary regulation are quite diverse:

• changes in interest rates on operations of central banks;
• changing the norms of required reserves for commercial banks;
• open market operations for the purchase and sale of government bonds, bills of exchange and other securities;
• foreign exchange interventions, that is, the purchase - sale of foreign currency for the national one.

By raising rates, the central bank is pursuing a policy of restricting credit, i.e.credit restriction.

A rate cut by a central bank is a method of expanding credit −credit expansion.

In most countries, the central bank rate system includes rates on various types of loans and deposits, which forminterest rate corridor.

An increase in the required reserve ratio for commercial banks (credit restriction) means that most of the bank funds are "frozen" in the accounts of the central bank and cannot be used by them to issue loans. As a result, the money supply in circulation is reduced, the exchange rate of the national currency and interest on loans rise.

In countries with a developed securities market, open market operations are a common method of monetary regulation.If the central bank sells securities (for example, its bonds to commercial banks), then the volume of resources of commercial banks decreases, which leads to a decrease in money supply in circulation and an increase in the exchange rate of the national currency, the volume of loans issued decreases (credit restriction). To increase the resources of commercial banks (credit expansion), the central bank can use the purchase from them of promissory notes purchased by banks from their customers (rediscount of bills) or repo-type transactions: when buying government securities from banks, central banks simultaneously undertake the obligation to re-sell them after a certain period at a pre-fixed price.

The purchase of government bonds in most countries is the main or even the only (as in Russia) form of lending to the government to cover the budget deficit.

Direct lending to the government to cover the budget deficit is prohibited by law in USA, Canada, Japan, UK , Switzerland, Sweden, Russia . Limited by law Germany, France , Netherlands. The main creditors of the state are not central, but commercial banks, other financial and credit organizations and the population.

Maintaining the stability of the national currency is carried out by foreign exchange interventions, which in turn affects price stability and monetary circulation.

In a number of countries supervision and control of the banking systemcountries is carried out exclusively by the central bank (Australia, Italy, Russia), in others (Germany, USA, Switzerland, France) - by the central bank together with other bodies (treasury, banking commission, etc.), and in some states (Austria, Denmark, Canada, Norway) - not by the central bank, but by other bodies.

13.2. Central Bank of the Russian Federation

The Central Bank of the Russian Federation (Bank of Russia) was established on July 13, 1990 on the basis of the Russian Republican Bank of the State Bank of the USSR and was originally called the State Bank of the RSFSR.

On December 20, 1991, the State Bank of the USSR was abolished and all its assets and liabilities, as well as property on the territory of the RSFSR, were transferred to the Bank of Russia.

Bank of Russia - the main link of the modern banking system of Russia.

Bank of Russia is the main conductor of monetary policy aimed at stabilizing monetary circulation in the country.

The status, goals of activities, functions and powers of the Bank of Russia are determined by the Constitution of the Russian Federation, the Federal Law “On the Central Bank of the Russian Federation (Bank of Russia)” and other federal laws.

Article 75 of the Constitution of the Russian Federation establishes a specialconstitutional legal statusThe Central Bank of the Russian Federation: its exclusive right to issue money is defined (clause 1) and as the main function - the protection and stability of the ruble (clause 2).

The key element of the legal status of the Central Bank of the Russian Federation isprinciple of independence, which manifests itself primarily in the fact that the Bank of Russia acts as a special public law institution that has the exclusive right to issue money and organize money circulation. The independence of the status of the Bank of Russia is reflected in Article 75 of the Constitution of the Russian Federation, as well as in Articles 1 and 2 of the Federal Law "On the Central Bank of the Russian Federation (Bank of Russia)".

The Bank of Russia islegal entity, has a seal depicting the State Emblem of the Russian Federation and with its name.

Authorized capitaland other property of the Bank of Russia arefederal property.

In accordance with the purposes and in the manner established by the Federal Law "On the Central Bank of the Russian Federation (Bank of Russia)", the Bank of Russia exercises the powerson the ownership, use and disposal of the property of the Bank of Russia, including gold and foreign exchange reserves of the Bank of Russia.Seizure and encumbrance of the said property without the consent of the Bank of Russia shall not be allowed, unless otherwise provided by federal law.

The state is not liable for the obligations of the Bank of Russia, and the Bank of Russia - for the obligations of the state, if they have not assumed such obligations or unless otherwise provided by federal laws.

The Bank of Russia carries out its expenses at the expense of its own income.

In accordance with Article 75 of the Constitution of the Russian Federationprotecting and ensuring the stability of the ruble is the main functionCentral Bank of the Russian Federation. This function is performed by the Bank of Russia independently of other public authorities.

The federal law "On the Central Bank of the Russian Federation (Bank of Russia)" defines the goals of the Bank of Russia and specifies the executive functions that allow it to implement its main function - protecting and ensuring the stability of the ruble.

In accordance with said Lawthe objectives of the activities of the Bank of Russia are:

Protection and stability of the ruble;

Development and strengthening of the banking system of the Russian Federation;

Ensuring the efficient and uninterrupted functioning of the payment system;

development of the financial market of the Russian Federation;

(paragraph introduced by the Federal

ensuring the stability of the financial market of the Russian Federation.

(paragraph introduced by the Federal Law of July 23, 2013 N 251-FZ)

Making a profit is not the purpose of the Bank of Russia.

The objectives of the activities of the Bank of Russia determine its functions, enshrined in the Federal Law "On the Central Bank of the Russian Federation" No. 86-FZ:

Emission center function

Monetary function

Bank function of banks

Government bank function

Currency center function (gold and foreign exchange reserves)

The function of issuing government securities

The governing bodies of the Bank of Russia are:

1. National Financial Board(consists of 12 members, including 2 representatives from the Federation Council, 3 from the State Duma, 3 from the President of the Russian Federation, 3 from the Government of the Russian Federation);
2. Chairman of the Bank of Russia(proposed by the presidents of the Russian Federation, appointed by the State Duma for a period of five years by a majority vote of the total number of deputies of the State Duma);
3. Board of Directors(consists of the Chairman of the Bank of Russia and 14 members of the Board of Directors, appointed by the State Duma for a period of five years on the proposal of the Chairman of the Bank of Russia, agreed with the President of the Russian Federation).

13.3. Operations of central banks

The Central Bank performs its functions through banking operations:passive and active.

Passive Operationscentral banks are operations for the formation of banking resources (associated with the inflow of money to the central bank):

• issue of banknotes;
• accepting deposits from commercial banks and the Treasury (Ministry of Finance);
• obtaining loans from international financial and credit organizations (for example, the IMF) or other central banks;
• issue of own debt securities;
• operations to form equity capital and reserves.

Active Operationscentral banks are operations for the allocation of resources (associated with the outflow of money from the central bank):

purchase of gold and foreign currency;

issuance of loans and placement of deposits;

purchase of securities;

acquisition of fixed assets.

Active and passive operations of the central bank are reflected in the corresponding items of its balance sheet.

For example, consider the balance sheet of the Central Bank of the Russian Federation.

Annual balance sheet of the Bank of Russia

Balance sheet items 2012 2011 ASSETS 1. Precious metals 1 646 187 1 527 545 2. Funds placed with non-residents and securities of foreign issuers 14 525 436 14 245 276 3. Loans and deposits 3 158 355 1 663 280 4. Securities, of which: 456 314 426 775 4.1. Debentures Government of the Russian Federation 370 182 332 738 5. Other assets, of which: 251 549 97 857 5.1. fixed assets 5.2. Advance income tax payments 76 276 75 429 Total assets 20 630 744 18 562 735 LIABILITIES 1. Cash in circulation 7 667 950 6 896 064 2. Funds on accounts with the Bank of Russia, of which: 9 404 984 7 742 221 2.1. Government of the Russian Federation 4 913 764 4 426 298 2.2. Credit institutions-residents 2 185 349 1 748 402 3. Funds in settlements 36 217 4. Issued securities 5. Commitments to the IMF 447 686 472 335 6. Other liabilities 138 183 138 183 7. Capital, including: 2 724 457 3 235 383 7.1. Authorized capital 3 000 3 000 7.2. Reserves and funds 2 721 457 3 232 383 8. Profit of the reporting year 247 326 21 903 Total liabilities 20 630 744 18 562 735

Active operations are reflected in the asset balance sheet, passive operations - in the liabilities side of the balance sheet.

Operations and transactions that can be carried out by the Bank of Russia, as well as clients of the Bank of Russia, are defined by Article 46 of Federal Law No. 86-FZ “On the Central Bank of the Russian Federation (Bank of Russia)”:

1. The Bank of Russia is entitled to carry out the following banking operations and transactions with Russian and foreign credit institutions, Government of the Russian Federation:

1) provide loans secured by securities and other assets;

2) provide loans without collateral for a period not exceeding one year to Russian credit institutions with a rating of at least the established level. The list of rating agencies, the ratings of which are used to determine the creditworthiness of the borrowers, and the required minimum indicators of the relevant ratings, additional requirements for the borrowers, as well as the procedure and conditions for granting the relevant loans, are established by the Board of Directors;

3) buy and sell securities on the open market, as well as sell securities serving as collateral for Bank of Russia loans;

4) buy and sell bonds issued by the Bank of Russia and certificates of deposit;

5) buy and sell foreign currency, as well as payment documents and obligations denominated in foreign currency issued by Russian and foreign credit institutions;

6) buy, store, sell precious metals and other types of currency values;

7) conduct settlement, cash and deposit transactions, accept securities and other assets for storage and management;

8) issue guarantees and bank guarantees;

9) carry out operations with financial instruments used to manage financial risks;

10) open accounts in Russian and foreign credit institutions on the territory of the Russian Federation and the territories of foreign states;

11) issue checks and bills of exchange in any currency;

12) carry out other banking operations and transactions on its own behalf in accordance with the business practices adopted in international banking practice.

At the same time, the Bank of Russia has the right to carry out banking operations and transactionson a commission basisexcept as otherwise provided by federal law.

Bank of Russia loans can be secured by: gold and other precious metals in standard and measured bars, foreign currency, bills denominated in Russian or foreign currency, government securities.

Lists of promissory notes and government securities suitable for securing Bank of Russia loans are determined by a decision of the Board of Directors.

In cases established by a decision of the Board of Directors, Bank of Russia loans may be secured byother valuables, as well as guarantees and bank guarantees.

2. Bank of Russia can carry out banking operationspublic authorities and bodies local government, their organizations, state non-budgetary funds, military units, military personnel, employees of the Bank of Russia, as well as other persons in cases provided for by federal laws.

3. The Bank of Russia is also entitled to serve clients that are not credit institutions in regions where there are no credit institutions.

At the same time, the Bank of Russia has no right :

1) carry out banking operations with legal entities that do not have a banking license and individuals, with the exception of cases provided for by Article 48 of the Federal Law "On the Central Bank of the Russian Federation (Bank of Russia)";

2) acquire shares (stakes) in credit and other organizations, except for the cases provided for by Articles 8, 9 and 39 of the Federal Law "On the Central Bank of the Russian Federation (Bank of Russia)";

3) carry out transactions with real estate, with the exception of cases related to ensuring the activities of the Bank of Russia and its organizations;

4) engage in trade and production activities, except for the cases provided for by the Federal Law "On the Central Bank of the Russian Federation (Bank of Russia)";

5) prolong the granted loans (an exception may be made by decision of the Board of Directors).

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The Central Bank in any state occupies a special place in the credit and financial system. Unlike commercial banks and other credit organizations, the central bank is a government agency responsible for the amount of money supply and loans provided to the economy as a whole. The emergence of central banks dates back to the middle of the 19th - the beginning of the 20th century, since it was during this period that the governments of most countries legally assign control over the issue of money into circulation to certain banks. The institution of the central bank was formed gradually and went through a rather long period of evolution.

It is difficult to say where and when the first central bank appeared. Some economists consider the beginning of the date of creation of the bank, which later began to perform the functions of the central bank. In accordance with this criterion, the first central bank was the Riksbank - the Bank of Sweden, founded in 1668. The Bank of England was formed in 1694, the Bank of France - in 1800.

The importance of the central bank lies in the fact that it is responsible for conducting monetary policy and the stability of the banking system as a whole. From this point of view, the time frame for the emergence and formation of central banks is shifted to a later date. For example, the Bank of France becomes responsible for conducting monetary policy only in 1945, after its nationalization. Much earlier, the functions of the central bank began to be performed by the Bank of England, remaining a joint-stock bank. Nationalization in 1946 gave him broad powers to control the activities of other banks. As a rule, European central banks for a fairly long period of time until the 1940s. simultaneously performed the functions of ordinary banks, opening accounts for private clients, crediting the issue of securities, providing other Banking services commercial and industrial companies and individuals. In the course of evolution, their commercial activity gradually declined. Unlike Europeans, a peculiar US central bank in the form of the Federal Reserve System was created in 1913 specifically to perform general economic functions.

There is a tradition of considering the features of the national central bank in comparison with the Bank of England, which serves as a kind of standard. The formation of the institution of the central bank in England had a rather noticeable impact on the creation of central banks in other countries. Moreover, it is believed that the foundations of monetary theory were laid by economists who discussed the problems of English banking and monetary policy. Therefore, without detracting from the experience of the countries of continental Europe and the United States, which in many ways turns out to be more interesting, we will use the same logic, especially since a look at the English model can be useful for understanding the role that central banks play in modern financial systems.

If in 1900 central banks existed in 18 countries (in total there were 30 independent states in the world), then in 2000 - in more than 170 countries. Despite the historical and economic features, the role of the central banks of various countries essentially corresponds to the classical English model, although a slightly different terminology is adopted. The Central Bank performs the functions of the state body for conducting monetary policy, the bank of banks and the bank of the government. However, it's not just terminology. In the course of evolution, the functions of the central bank did not remain unchanged. In the past, the essence of monetary control was to supply the economy with money. The central bank had to give elasticity to money and bank reserves, i.e. change the money supply in response to changes in the demand for money from real sector economy. Currently, the central bank is seen as the institution responsible for designing and implementing monetary policy, changing the money supply to achieve economic goals such as economic growth, price stability, and curbing inflation.

The function of the bank of banks is wider than the lender of last resort in a critical situation. Banks conduct payments and settlements through correspondent accounts opened with the central bank. The settlement network of the central bank is not the only way to conduct non-cash payments. Nevertheless, by regulating the process of making payments and supervising banks, the central bank ensures the normal operation and guarantees the stability of the financial system.

The role of the central bank as the government's bank has also changed. Historically, since their inception, central banks have attracted resources to lend to government spending. The state received share premium due to the exclusive, monopoly right of the central bank to create money, as well as profit from the commercial activities of the bank. At present, there is little central bank lending to governments. In many countries, including Russia, there are legislative restrictions on the right of the central bank to provide loans to the government to finance the budget deficit, to buy government securities at their initial placement, and to conduct banking transactions with persons who are not banking organizations. The issuing activity of a central bank is more determined by the objectives of monetary policy than by considerations of seigniorage. Central banks perform mainly the tasks of the so-called fiscal agent of the state, i.e. they maintain the accounts of the treasury and manage the public debt.

One of the key policy questions is to what extent the responsibility for all three functions should lie with a single institution. In 1995, an exhaustive analysis of the arguments for and against the separation of the functions of monetary policy and banking supervision was carried out and no convincing arguments were found in favor of one model or another, consistent with the fact that about half of the 27 countries studied separated these functions. between various government institutions, making the central bank only responsible for price stability, while the other half united.

Goals and objectives of the organization of central banks. Functions of the Central Bank of the Russian Federation. Organizational structure of the Central Bank of the Russian Federation: central office, territorial main departments and national banks of Russia, cash settlement centers (RCCs). Functions of the Central Bank of the Russian Federation: conducting a unified monetary policy, issuing cash and organizing their circulation, refinancing, organizing cashless payments and lending National economy, regulation and supervision of the activities of commercial banks, currency regulation and currency control, settlement and cash services of the state budget. Functions and organizational structure central banks of England, France, Japan, Germany, USA and other banks of developed countries.

Commercial banks and their activities

Characteristics of a commercial bank as a subject of the economy. Functions of a commercial bank: accumulation of temporarily free funds in deposits, placement of borrowed funds and settlement and cash services for the clientele. The concept of banking services and its main characteristics. Legislative bases of bank activity. Bank client. Bank agreement with the client. Bank accounts. Classification of banking operations. Passive operations of the bank - operations to raise funds in banks and the formation of the resources of the latter. Deposit operations. Issuing operations of a commercial bank. The value of passive operations in the activities of a commercial bank.

Active operations of a commercial bank are operations through which banks allocate the resources at their disposal to raise profits and maintain liquidity. Classification of active operations of a commercial bank by economic content (loan, settlement, cash, investment, stock and guarantee operations of a commercial bank); by degree of risk; by the nature (directions) of the placement of funds (primary, secondary, and investment); by income level.

Characteristics of loan operations, their types depending on the type of borrower, method of collateral, terms of lending, the nature of the circulation of funds, the object and subjects of lending, the type of account being opened and other features. Differences between loan and investment operations of a commercial bank.

Active-passive operations of a commercial bank - commission, intermediary, performed by the bank on behalf of customers for a fee. Types of active-passive operations of a commercial bank. Bank trust operations.
Balance sheet and off-balance sheet operations of the bank. Them a brief description of. The main types of off-balance sheet operations.

Liquid and illiquid operations of a commercial bank. The concept of bank liquidity.

Financial risks in the activities of a commercial bank.

International financial and credit institutions

The goals of creation and features of the functioning of the IMF and the World Bank. European Bank for Reconstruction and Development. European Investment Bank. Bank for International Settlements. International Finance Corporation. International Development Association, etc.

LIST OF QUESTIONS FOR CONTROL WORK

I. Money

1. Origin, evolution and essence of money

2. Functions of money

3. Types of money

4. The concept of money supply

5. Issue of money and issue of money

6. The concept of cash flow, its content and structure

7. Fundamentals of organization of non-cash money circulation

8. Forms of non-cash payments, conditions for their implementation

9. Monetary system and its elements

10. The essence of inflation and the forms of its manifestation

II. Credit

11. Necessity and essence of credit

12. Functions and laws of credit

13. Theories of credit

14. Forms and types of credit

15. The nature of the loan interest and its economic role

16. Bank interest and the mechanism of its formation

17. Forms of loan repayment security

18. Refinancing and interbank lending

19. Principles of bank lending.

20. The role of credit in the development of the economy and its boundaries

III. Banks

21. Emergence and development of banks

22. The concept and elements of the banking system

23. The form of organization of central banks and the organizational structure of the Bank of Russia

24. Tasks, functions and operations of the Bank of Russia

25. Monetary policy of the central bank

26. Concept, principles of activity and classification of commercial banks

27. Organizational structure of commercial banks

28. Functions of commercial banks and banking services

29. Passive operations of commercial banks

30. Active operations of commercial banks

Students are offered a list of questions included in the test, which was approved at a meeting of the department. In preparing the questions, the following factors were taken into account:

The relevance of the problem under consideration;

Availability of scientific and specialized literature on the issues under study;

Ability to collect economic and statistical information.

The numbers of questions for the test work are determined by students in accordance with the last digit of the record book number.

If students have difficulties in choosing the topic of the test, they should seek advice from the teacher - supervisor.

The student must independently select the literary sources necessary for writing a test paper, using the list of recommended literature contained in this manual, as well as catalogs of books and periodicals that are available in the library of the academy or other libraries.

The study of literature should be carried out in a certain sequence:

1) study the relevant chapters and sections of textbooks and teaching aids;

2) get acquainted with the federal and regional legislative acts related to the topic of the test;

3) analyze the current instructions and regulations of the Central Bank of the Russian Federation related to the problem under study;

4) study monographs and articles in periodicals.

The main goal of studying literary sources is to systematize information and knowledge accumulated by science on the issues under study, to highlight different views and points of view of domestic and foreign scientists and specialists, as well as to develop one's own opinion on the issues under consideration.

Disclosing the essence of those issues that are indicated in the plan of control work, it is advisable to start with a presentation of the theoretical provisions and the historical aspect of the problem under study. The essence of the studied phenomena and processes, their tendencies and prospects should be explained. It is necessary to review the various points of view and opinions that exist in the modern economic literature, as well as express your position on the problem under study. Theoretical provisions must be supported by an analysis of factual material - statistical and economic indicators gleaned from statistical collections, periodicals, reference books and the Internet computer network.

The statistical data given in the control work should be closely linked to the text and summarized in tables or diagrams. The indicators should be considered in dynamics for at least 3-5 years. Compared objects must be of the same type. The analysis becomes deeper when calculating the averages and relative values, indices, indicators of variation of signs, in identifying the relationship between individual economic phenomena.

The presentation of the text, page numbering should be a cross-cutting control work, ends with a list of used literature.

The control work can be done by hand or on a computer, on one side of an A4 sheet with 1.5 intervals, font 14 pt, or written in an A4 student notebook.

The numbering should be through, starting with the title page.

The student is obliged to submit the test to the Department of Finance and Credit no later than the deadline specified by the teacher. An employee of the department checks the correctness of the design of the control work and registers it in a special journal.

The supervisor checks the control work and, in case of unsatisfactory performance, returns it for written revision, indicating the specific deadline for the secondary delivery of the control work to the department. In the process of revision, the student must eliminate the comments and answer the questions of the supervisor.

Completed and credited control work is stored at the Department of Finance and Credit.

General characteristics of central banks.

In the early stages of the development of credit systems, there were only commercial banks that performed all banking operations, including the issue of money, servicing public needs and the real sector of the economy. With the development of credit relations and centralization monetary systems it became necessary to centralize the issue of money, as well as to regulate the activities of other banks. This is how the Central Bank came into existence. There are two ways of emergence of central banks: evolutionary and administrative. The evolutionary path assumed the process of gradual separation from the CB system of the largest, reliable and stable bank and endowing it with the functions of a central bank (for example, the Bank of England in 1694). Most of the Central Banks came into being through administrative means. They arose by decree, order of state bodies, presidents, monarchs immediately as central banks (BR, US Federal Reserve). In the 20th century many Central Banks were nationalized. The impetus for nationalization was the economic crisis of 1929-1933. and World War 2.

In order to achieve the goals of the Central Bank, to more effectively carry out operations and measures to regulate the economy, the Central Bank of the country must have a sufficient level of independence from the executive branch. Central bank independence- a special form of state control over the state of the monetary sphere. The degree of independence is difficult to assess, but such studies are being carried out; the legislative base of the activity of the Central Bank is mainly analyzed. Thus, factors have been developed by which it is possible to assess the degree of independence of the Central Bank:

The share of state ownership in the capital of the Central Bank (it is not decisive, rather it has a historical and traditional aspect);

The procedure for appointing or selecting the leadership of the Central Bank, removal from office, as well as the timing of election;

The degree of detail in the definition in the legislation of the goals and objectives of the activities of the Central Bank;

The statutory right of state bodies to intervene in monetary policy (MP);

Legislative restrictions on government lending.

In the course of analyzing the degree of independence of the Central Bank in different countries, a relationship was revealed between the inflation rate and the level of independence - the higher the independence, the lower the inflation rate in the country. All countries with a market economy are trying to adjust the legislative framework for the activities of the Central Bank in order to increase the degree of independence of the Central Bank. A united Europe also follows the principles of independence of the ECB. Under the pressure of EU accession, many European countries have made or are already making changes to their banking legislation (eg the UK in 1998).

The objectives of the Central Bank:

Protecting and ensuring the stability of the national currency, including its purchasing power and exchange rate against foreign currencies

Development and strengthening of the banking system

Ensuring the efficient and uninterrupted functioning of the settlement system

Tasks of the Central Bank:

Emission center of the country

bank of banks

government bank

Settlement center

currency center

Center for Monetary Regulation of the Economy

Functions of the Central Bank: regulating, controlling, servicing, information and research.

PrEP- a set of measures aimed at changing the money supply in circulation, interest rates, the volume of lending and other indicators of money circulation and the loan capital market. The monetary policy is aimed either at stimulating credit and money supply (expansion) or at containing and limiting them (restriction). The monetary policy differs from other methods of state regulation of the economy by the indirect nature of its impact on the process of industrial reproduction. The Central Bank directly changes only the volume of emission and credit, and this, in turn, entails a chain of changes.

The objectives of the monetary policy, as an integral part of the nationwide economic policy:

Maintaining the stability of the national currency

Maintaining Economic Growth

Reducing unemployment

Ensuring balance of payments balance

Classification of DCT methods:

market (indirect) and administrative (direct)

general and selective

Accounting and collateral policies. This is a classic tool in the practice of the Central Bank. It is based on the regulation of the loan capital market by manipulating the accounting (lombard)%. Discount rate- the percentage that the Central Bank withholds when buying bills from credit institutions. Lombard rate- the percentage charged by the Central Bank when providing loans to credit institutions secured by assets. The advantage of this method is the simplicity and accessibility of application, and the disadvantages are a small amount of centralized loans in the structure of CB liabilities (2%), a wide variety of ways to attract additional resources (interbank loan market, securities market, etc.), slowness (rare change in %).

Minimum reserve policy. This method was first tested in the USA in the 1930s. and immediately after the war, it was introduced into the practice of the Central Bank of all leading Western countries. The main reason for this policy is that there is a certain relationship between the volume of reserves and banking operations, which the Central Bank can use to influence the behavior of the CB. The credit potential of CBs increases as much as their obligations under the minimum reserves are reduced.

Minimum reserves- these are termless and interest-free deposits of CBs in the Central Bank, the amount of which is established by law in a certain relation to bank obligations (raised funds - customer deposits). Historically, minimum reserves have evolved from the need for CBs to have liquid reserves in case of unexpected cash payments.

The laws of different countries establish the procedure for holding minimum reserves in their own way, but they all have one common goal - to force CBs to hold a certain differentiated share of their obligations in perpetual accounts with the Central Bank. Recently, many Central Banks of the leading Western countries have made these accounts interest-bearing, in contrast to the previous practice of interest-free accounts. Russia does not yet belong to such countries.

Differentiation of norms of obligatory reserves:

type of deposit (its term);

deposit currency;

type of credit institution;

the amount of the contribution;

the status of the contributor (legal or natural person).

The advantage of this method is the speed of impact (because this is a legislative norm), and the disadvantages are slowness (rates rarely change); inflexibility, since there are limits on rate changes - a range of one-time changes (no more than 5% of points) and an upper limit (no more than 20% of CB obligations); tax nature (if% is not charged); frequent changes in norms can lead to destabilization of the situation at the RSC. This method is effective during a crisis, when it is necessary to quickly reduce the money supply (the so-called sterilization of excess liquidity).

Open market policy. This is the most flexible method of regulating the liquidity and credit investments of banks through the placement of public debt. The method consists in the purchase and sale by the Central Bank of government securities, banker's acceptances and other highly liquid securities at a predetermined rate. By managing operations on the open market, the Central Bank creates favorable conditions for credit institutions to increase their liquidity, or vice versa. The term itself first appeared in the United States in the 1920s. Open market operations– purchase and sale by the Central Bank of highly liquid securities from credit institutions. The advantages of this method are efficiency (operations are carried out daily) and flexibility (the volume of operations is determined by the needs of regulation), and the disadvantage is that a developed securities market and the desire of CBs are required.

deposit policy. In addition to lending operations, the Central Bank offers CB and deposit-taking services. The CB has the right to independently make decisions on the placement of its free resources, therefore the Central Bank makes it possible to invest funds in its accounts. The mechanism of action of this method is a mechanism for regulating bank liquidity with the help of%. Deposit operations– operations of the Central Bank to attract free funds of the CB in deposits.

Lecture 15. Fundamentals of organizing the activities of a commercial bank.

The lower level of the banking system consists of a network of independent credit and financial institutions that directly perform the functions of credit and settlement services to the clientele on commercial principles.

Bank - a commercial institution that is a legal entity, which, in accordance with the law and on the basis of a license issued by the Central Bank, has been granted the right to attract funds from legal entities and individuals and place them on its own behalf on the terms of repayment, payment and urgency, as well as to carry out other Bank operations.

Based on this definition, it is possible to distinguish the functions of a bank, according to modern theory, there are three of them:

1) the function of accumulation of funds;

2) resource transformation function;

3) the function of regulating money circulation.

In accordance with the functions performed, the bank collects free, temporarily unused monetary resources and capital of its customers. Enterprises open bank accounts and, using funds from these accounts, carry out cash and non-cash payments. Individuals deposit their funds, which enable the bank to transform them into loans and use them for other monetary transactions, while reducing economic risks compared to risks in direct transactions between the lender and the borrower. Bank payment transactions, the creation of payment instruments (banknotes, checks, bills of exchange, certificates, etc.) allow you to regulate money circulation, make it more economical by performing non-cash transactions.

Banking activity is the activity of a monetary institution in the sphere of economic relations. Not only the development of the country's economy, but also the social atmosphere in society depends on the results of the activities of banks. General economic and banking crises lead to significant losses, bankruptcy of enterprises and credit institutions, depreciation or loss of savings and deposits of citizens, tension in public relations, and a decrease in the bank's image as a socio-economic institution.

The activity of the bank as an expression of its economic relations with customers is determined by its essence, functions and purpose in the economy. Banking activity has certain features.

1. The bank works in the sphere of exchange, and not in the sphere of production, but it also affects production, because serves production needs (accumulation of production materials, acquisition of new machinery and equipment), but the process itself reflects the activity of economic entities in the redistribution (exchange) of the created material wealth.

2. The bank is a trading institution, the motives of commerce predominate in its activities. His whole activity consists in buying resources at one price and selling them at another, more expensive price.

3. A bank is a commercial enterprise. Operations of both issuing and commercial banks are carried out on a fee basis. For the loans they receive, they receive a loan interest, and for settlement, cash and other operations performed on behalf of their clients, they receive a certain commission.

4. The activity of the bank is of an entrepreneurial nature. Thanks to the bank, the idle capitals of some economic entities begin to “work” for others. Thanks to the energy of the redistribution of capital between economic entities, industries, territories and countries, banks enhance the productive movement of material, labor and monetary resources, and contribute to the implementation of various economic projects.

5. A bank is not only a commercial enterprise, but also a public institution. The Bank helps to serve the public interest, works to meet public needs, while banking activities are not political, but economic in nature.

Working in the field of exchange, the bank acts as a productive institution that regulates money circulation in cash and non-cash forms.

A bank is an organization that performs three banking operations simultaneously: credit, deposit and settlement.

Commercial banks (universal) carry out all types of settlement, credit and financial transactions related to servicing the economic activities of their customers. Certain banking operations may also be performed by other credit institutions that are not banks.

Unlike the Central Bank:

CBs exist on the basis of any form of ownership;

do not depend on public authorities and management when making decisions related to servicing the economic activities of their customers;

act on the basis of their Charters registered with the Central Bank;

The UK consists of the funds of legal entities and individuals and serves as collateral for the bank's obligations.

Operations of a commercial bank (according to the issued license):

attraction of contributions and deposits;

granting loans under an agreement with the borrower;

opening and maintaining customer accounts;

making settlements on behalf of clients and maintaining their cash services;

financing of capital investments on behalf of or at the expense of own funds;

carrying out operations with securities;

implementation of foreign exchange transactions;

An operation is a specific type of action to create a product. Banking activity is a complex, diverse process that is implemented only within the banking system and is subject to uniform rules for conducting operations. Operations are carried out through financial, accounting and technical techniques and methods, which together form a certain technology of banking services.

Banking activity, being unified in its essence, may have certain features associated with the difference in the activities of a particular bank.

Relations between banks and clients are built on a contractual basis, the state is not responsible for the obligations of the CB, just as the CB is not responsible for the obligations of the state, except in cases provided for by law or when they themselves have assumed such obligations.

The control exercised by the bank over the activities of clients is of a civil law nature and is aimed at ensuring the interests of the bank itself, but in cases specified by law, they are authorized to exercise control in the interests of the state:

carrying out currency control;

control over observance of currency legislation;

for the timely and full implementation of the established part of export earnings in the domestic foreign exchange market;

for the observance by organizations of the procedure for conducting cash transactions.

By their nature, the operations of a commercial bank are divided into banking and non-banking. Banking includes those that follow directly from the essence of the bank, historically entrenched in it as a monetary institution.

Banking transactions include:

attracting funds from individuals and legal entities in deposits (on demand and for a certain period);

placement of attracted funds on its own behalf and at its own expense;

opening and maintaining bank accounts of individuals and legal entities;

settlements on behalf of individuals and legal entities, incl. correspondent banks, according to their bank accounts;

collection of funds, bills of exchange, payment and settlement documents and cash services for individuals and legal entities;

purchase and sale of foreign currency in cash and non-cash forms;

attraction to deposits and placement of precious metals;

issuance of bank guarantees;

implementation of money transfers on behalf of individuals without opening bank accounts (except for postal orders).

The Federal Law "On Banks and Banking Activities" allows banks to engage in the placement, subscription and storage of securities. These operations do not have banking status, since they are specific to another economic institution - the stock exchange. The Bank, according to the legislation, also has the right to make the following transactions:

issuance of guarantees for third parties, providing for the fulfillment of obligations in cash;

acquisition of the right to claim from third parties the fulfillment of obligations in cash;

trust management of funds and other property under an agreement with individuals and legal entities;

carrying out operations with precious metals and precious stones;

leasing to individuals and legal entities special premises or safes located in them for storing documents and valuables;

leasing operations;

provision of consulting and information services.

These operations and transactions constitute additional activities that banks are allowed to engage in.

The law also prescribes those types of activities that banks are prohibited from engaging in. These include manufacturing, trading and insurance activities.

A bank is an economic enterprise, the main activity of which is the realization of its economic interests. He produces his product, which is of a value nature.

The bank's products are means of payment, which, together with the loan, are included in the money circulation. The banking product has a number of distinctive features and is mainly intangible in nature. As a rule, this is a non-cash form, appearing as account entries; material form - banknotes of the Central Bank, various monetary documents. A banking product is created in certain areas of activity. Each product corresponds to a service that represents a set of actions, the process of creating a banking product.

organization of cash and non-cash settlements;

• provision of guarantees;

  consultations;

The product of the issuing bank is money as a special commodity exchanged for the product of other labor.

Unlike other enterprises, the KB product is not subject to warehousing, although it is of a material nature.

KB Product Features:

it can not always be felt physically, but it is an activity that has social costs as its basis;

has the property of self-increasing value.

The resources received from depositors are not free for the lending institution: they must be used in such a way as not only to return them to depositors, but also to ensure an increase sufficient to pay interest on deposits, compensation costs and make a profit (at least minimal).

Banking principles:

profitability: profit is the official main indicator of the bank's activity;

bank profit - the difference in interest received and paid plus commission for the provision of services;

speculative principle: the cheapest attraction of capital and its placement at maximum rates;

riskiness: CB risks only the amount of its capital. There should be a rule - everything is for the safety of the client on the basis of partnerships and the principle of mutual interest.

A commercial bank is a universal enterprise seeking to develop as many types of operations and services as possible.

Groups of banking operations:

Credit.

Estimated.

Cash.

Interbank settlements.

Bills of exchange.

Operations with securities.

Operations in foreign currency.

Intermediary.

Financial.

Constituent.

All these operations banks can carry out in rubles and foreign currency.

The state determines the procedure for the creation of banks, using a system of regulatory standards, controls their activities.

CB can start operations only after obtaining the appropriate license, i.e. permission from the Central Bank of the Russian Federation.

The following licenses may be issued to a newly established credit institution:

a license to carry out banking operations with funds in rubles (without the right to attract deposits from individuals);

a license to carry out banking operations with funds in rubles and foreign currency (without the right to attract deposits from individuals);

license to attract deposits and placement of precious metals. The possibility of issuing such a license is considered by the Central Bank of the Russian Federation simultaneously with documents for granting a foreign exchange license.

Permission for the right to conduct transactions with precious metals is issued by the Central Bank of the Russian Federation in agreement with the Ministry of Finance of the Russian Federation.

A credit organization may expand the range of operations performed by obtaining the following types of banking licenses:

a license to attract deposits of individuals in rubles, which can be issued after two years from the date of state registration of a credit institution.

a license to attract deposits of individuals in rubles and foreign currency, which can be issued after two years from the date of state registration of a credit institution;

A general license that can be issued to a bank that has licenses to perform all banking operations with funds in rubles and foreign currency. A bank holding a General License may open branches abroad in accordance with the established procedure and/or acquire shares in the charter capital of non-resident banks.

A license for banking operations is issued without limitation of its validity period.

Bank resources. In order to fulfill their primary function of intermediation in a loan under market conditions, commercial banks are faced with the need to accumulate financial resources in order to further redistribute and make investments in order to achieve maximum profitability.

With the functioning of a two-tier banking system, commercial banks independently seek opportunities for the accumulation and concentration of funds for the purpose of subsequent distribution in the most profitable forms. Banking resources are formed through the conduct of passive operations by banks and are reflected in the liabilities side of the bank's balance sheet. Passive operations are operations for the formation and replenishment of bank capital and its resource base.

The liabilities of a commercial bank represent its credit potential, consisting of its own and borrowed funds.

With the help of passive operations, banks form their resources. Historically, passive operations play a primary and decisive role in relation to active ones, because for their implementation it is necessary to have sufficient resources.

The specifics of the bank's activity is that its resources in the vast majority are formed not at the expense of its own, but at the expense of borrowed funds.

The resources of a commercial bank determine the totality of own and borrowed funds available to the bank and used by it to carry out active operations.

The authorized capital of a credit institution - the value of the contributions of its participants - determines the minimum amount of property that guarantees the interests of its creditors. The statutory fund is the guarantor of the bank's economic stability and is formed at the expense of its own funds and own tangible assets of the bank's participants - legal entities and individuals.

The authorized capital of a credit organization set up in the form of a limited liability company or an additional liability company is made up of the nominal value of the shares of its participants.

The authorized capital of a credit institution set up in the form of a joint-stock company is made up of the nominal value of its shares acquired by the founders of the credit institution.

Contributions to authorized capital credit institution can be in the form of:

funds in the currency of the Russian Federation and in foreign currency;

tangible assets (a bank building in which a credit institution is located, with the exception of construction in progress). Tangible assets must be reflected in the balance sheet of a credit institution in the currency of the Russian Federation.

The composition of own funds includes: funds - statutory, reserve, special, economic incentives; reserves to cover credit risks and depreciation of securities; Extra capital; funds for industrial and social development; profit of the current year and retained earnings of previous years.

The reserve fund of a commercial bank is designed to compensate for losses on active operations and, in case of insufficient profits, serves as a source of interest payments on bank bonds and dividends on preferred shares. A reserve fund is formed at the expense of annual deductions from profits. The minimum size of the authorized capital level is set by the Central Bank of the Russian Federation (not less than 5%), but a commercial bank independently determines the level of the maximum size of the reserve fund, which is fixed in the bank's Charter (from 5% to 100% of the authorized fund). Upon reaching the established level, the formed reserve fund is transferred to the authorized (capitalized), and its accrual begins anew.

Along with the reserve fund, other funds are created in a commercial bank (for the production and social development of the bank itself): a special purpose fund, an accumulation fund, etc. These funds are formed at the expense of the bank's profit. The procedure for the formation of funds and their use is determined by the credit institution in the regulations on funds, as well as the regulatory documents of the Central Bank. The additional capital of the bank includes the following three components:

increase in the value of property during revaluation;

issue income. Represents the income received during the issue period from the sale of shares at a price exceeding the par value of shares, as the difference between the value (price) of placement and their par value;

property received free of charge from organizations and individuals.

Insurance reserves are a special component of the bank's capital and are formed in the course of specific active operations, they include reserves created for possible losses on loans and bills, reserves for possible depreciation of securities acquired by the bank, as well as a reserve for possible losses on other assets and settlements with debtors. The purpose of these reserves is to neutralize the negative consequences of the actual decrease in the market value of various assets. Assets are formed at the expense of the bank's profit without fail, prescribed by the Central Bank of the Russian Federation.

Retained earnings also refer to the bank's own funds, as The principles of commercial banks' activities imply independent disposal of profits remaining after taxes.

The total bank capital is adjusted by the amount obtained as a result of the revaluation of funds in foreign currency, securities circulating on the Organized Securities Market (OSM), precious metals, as well as by the amount of received (paid) accumulated coupon income.

Functions of capital: regulatory, protective and operational.

regulatory function. The banking supervisory authorities, represented by the Central Bank, establish a minimum level of bank authorized capital for newly created banks and a minimum amount of capital for existing banks, and also introduce relative standards, in accordance with which a relationship is established between the amount of own funds and the volume of various types of banking operations. (Instruction No. 139-I of the Central Bank).

protective function. Commercial banks are provided with full economic independence, as well as economic responsibility. The bank's own funds serve as collateral for its obligations. Bank capital is the limiting value of the guarantee of liability to its depositors and creditors. In the event of a bankruptcy procedure, the CB's own funds are used to pay off debts to the budget, holders of bonds and other debt obligations, depositors of funds on time and demand deposits, etc.

operational function. Unlike non-financial organizations, for a bank, the operational functions of capital are considered secondary. Banks try to avoid placing their own funds in short-term assets. Own funds serve as a source for the development of the bank's material base, they are used to purchase buildings, the machines, equipment, computer technology, etc. that it needs.

Each commercial bank determines the amount of own funds independently and depends on many factors.

First, in accordance with the Law on the Central Bank of the Russian Federation, the amount of own funds determines the maximum amount of the bank's active operations. Therefore, banks focused on a certain range of clients (for example, industry banks, banks of inter-industry associations and financial-industrial groups, etc.) must have their own funds in such a size as to be able to satisfy all the justified needs of their regular customers in borrowed funds without violating established standards.

Secondly, the amount of own funds required by the bank depends on the specifics of its clients. The predominance of large credit-intensive enterprises among the bank's clients requires it to have a larger amount of its own funds with the same total volume of active operations compared to a bank that focuses on serving a larger number of small borrowers, since in the first case the bank will have high risks per borrower, which are limited.

Thirdly, the amount of own funds of a commercial bank depends on the nature of its active operations. The orientation of the bank to predominantly carry out operations associated with high risk requires a larger amount of own funds (innovative banks). The predominance of loans with minimal risk in the bank's loan portfolio allows for a relative decrease in the bank's own funds.

The normative ratios of the bank's capital and its assets with varying degrees of risk give banks some guidelines for determining the amount of equity capital, depending on the nature of active operations.

When deciding on the amount of own funds, banks take into account that these funds themselves do not determine the amount of profit received. They only allow the bank to choose certain types of operations, focus on servicing a certain range of customers, etc.

Fourthly, the amount of own funds required by the bank depends on the degree of development of the market for credit resources and the credit policy pursued by the Central Bank of the Russian Federation. The liberalization of the credit policy of the Central Bank of the Russian Federation in a developed market facilitates the access of a commercial bank to credit resources and reduces the level of own funds required by the bank. The tightening of credit policy, combined with an underdeveloped financial market, necessitates a constant increase in own funds.

Two methods can be used to increase the size of the bank's own funds: accumulation of profits or an increase in the number of issued shares (the number of bank shareholders). Accumulation of profit occurs in the form of accelerated creation of the reserve and other funds of the bank and their subsequent capitalization. There may also be a direct attachment of part of the profit at the end of the year. This method is the cheapest, it does not require additional costs associated with the placement of shares or attracting new shareholders. The accumulation of profits means a decrease in dividends paid to shareholders in the current year, which may shake the bank's position in the market.

In the total amount of banking resources, attracted resources occupy a predominant place. Their share in various banks ranges from 75% and above. Attracted resources can be divided into borrowed funds and borrowed funds.

Attracted funds: settlement accounts of legal entities; demand and term deposits in Russian and foreign currencies.

Borrowed funds: debt obligations circulated on the market in the form of certificates of deposit, bonds, own bills in Russian and foreign currencies; interbank loans; centralized resources purchased at auctions or received from the Central Bank of the Russian Federation, in addition, loans received from the Central Bank of the Russian Federation; funds of other banks kept on correspondent and deposit interbank accounts.

Not the entire set of funds mobilized in the bank is free to carry out active operations of the bank, but only its credit potential. The credit potential of a commercial bank is the amount of funds mobilized in the bank minus the liquidity reserve.

Taking into account the principle of liquidity, all funds of the credit potential of the CB can be divided according to the degree of their stability: absolutely stable, stable and unstable funds.

The composition of absolutely stable funds includes: own funds of the bank; funds deposited for a certain period; funds received from other banks. Stable funds are all deposited funds at the presentation of the bank's principals, whose dynamics has been studied by the bank; at the same time, the average amount of funds that the bank can have at any time for their direction in certain assets is established. Volatile funds create escrow funds that appear periodically and whose dynamics are difficult to predict.

Credit operations- this is the relationship between the creditor and the borrower (debtor) to provide the first to the last a certain amount of money on the terms of payment, urgency and repayment.

Bank credit operations are divided into two large groups: active, when the bank acts as a creditor, issuing loans, and passive, when the bank acts as a borrower (debtor), attracting money from customers and other banks to its bank.

There are also two main forms of credit operations: loans and deposits.

Active lending operations consist of:

from lending operations with clients and operations to provide interbank credit;

from deposits placed with other banks.

Passive lending operations similarly consist of:

from deposits of legal entities and individuals, including customers and other banks in this banking institution;

loan operations for obtaining an interbank loan by a bank.

In the practice of Russian commercial banks, passive operations include:

accepting deposits (deposits);

opening and maintaining customer accounts, incl. correspondent banks;

issue of own securities (shares, bonds), financial instruments(bills, deposit and savings certificates);

obtaining interbank loans, incl. centralized credit resources.

Passive credit operations, first of all, include deposit operations.

Deposit operations are called banks' operations to attract funds from legal entities and individuals in deposits on demand or for a certain period.

Demand deposits are funds on current, settlement, budget and other accounts related to settlements or intended use, as well as demand deposits.

Demand deposits may be withdrawn at any time at the first request of the depositor. They are used for current calculations. They earn relatively little or no interest at all. Demand deposits are the most inconvenient for banks, because subject to the factor of sudden withdrawal. The outflow of deposits sharply worsens the solvency of banks and requires the creation of special funds that slow down the turnover of bank capital.

Term deposits are funds of individuals, companies, enterprises and organizations placed in storage for a predetermined period, but, as a rule, not less than 1 month. In most cases, these are deposits for larger amounts and at higher interest rates. A significant increase in term deposits contributes somewhat less to the growth of the profitability of the bank's operations, but increases the level of liquidity of its balance sheet.

A common type of term deposit are deposit and savings certificates. They represent a written confirmation of the bearer's rights by a financial institution to receive the amount of money indicated in them and deposited on the deposit.

Term deposits are accepted by banks for a fixed period. When withdrawing funds before the due date, the depositor is obliged to notify his bank about this. This is necessary in order to prepare for the operation in a timely manner and apply for the necessary reinforcements to the local central bank authority. Term deposits most fully meet the requirements for the security of lending resources and adequately guarantee banks against sudden withdrawal of funds that jeopardize their solvency.

Savings deposits are attracted by banks for a period of more than 359 days. The use of these deposits occurs after reaching the required level to make the corresponding purchase. Savings deposits are considered as a classic form of temporarily deferred demand of the population for durable goods and services (apartments, houses, cars, furniture sets, foreign tourist trips, etc.)

Savings deposits are usually referred to as a savings account with a savings book, which contains the rules for using the account, reflects all transactions on it. The owner is required to present it in order to deposit money into the account or withdraw it. A savings book gives the client the right to oblige the bank to make all necessary payments on his personal account, this creates comfort for the depositor, because. greatly facilitates the use of his funds. One of the purposes of savings deposits is to encourage thrift. Ordinary savings accounts are widely used by individuals.

The economic interests of depositors are pursued by obtaining the maximum interest money, and banks - profits. The point of intersection of these interests are especially long-term savings deposits with a term of more than 360 days. These deposits gave rise to a special social group of the population (rentiers), living off the receipt of income from the long-term storage of deposits. Savings deposits are the most profitable form of deposits for banks. During storage, deposit funds can make several tens of turnovers as loans from banks and bring them the highest mass of profit.

The main conditions for the storage and accrual of interest money are provided for in deposit agreements between the client and the bank.

Commercial banks in the conditions of competition in the market of credit resources must constantly take care of both quantitative and qualitative improvement of their deposits. They use different methods for this (interest rate, various services and benefits to depositors). The procedure for conducting deposit operations is regulated by the bank's internal documents.

For passive operations, in particular for deposits, banks are required to create required reserves.

Reserve requirements are established in order to limit the credit capacity of banks and maintain the money supply at the level of circulation.

Required reserve ratios may not exceed 20% of a credit institution's liabilities.

The obligation to fulfill reserve requirements arises from the moment of obtaining a license from the Central Bank of the Russian Federation for the right to perform the relevant banking operations and is a necessary condition for their implementation. Required reserves are deposited in the respective reserve accounts with the Central Bank of the Russian Federation, they do not accrue interest.

The federal law "On insurance of deposits of individuals in banks of the Russian Federation" provides for the need for all banks working with the population to be subject to licensing. Reimbursement of funds after the bankruptcy of the bank will be carried out by the Deposit Insurance Agency at the expense of bank obligatory payments in the amount of 0.1% of the amount of attracted deposits. In the event of an insured event, deposits in the amount of up to 700 thousand rubles will be returned to the depositor in full.

Loan operations of banks are carried out on the basis of the conclusion of a loan agreement, which fixes all the main conditions for granting a loan. The terms of the loan agreement depend at any given moment on the credit policy pursued by the bank, the availability and cost of credit resources, the ratio of the degree of riskiness and profitability of lending to each specific project, the stability and scale of the bank's deposit base, the state's economic and monetary policy, the current economic situation in a given region, the qualifications and professionalism of bank employees, etc.

Loan accounts opened by the client keep records of loans for each object of lending. Separate balance sheet accounts keep records of short-term and long-term loans issued to one client. The debit of the loan account reflects the amount of the loan issued, the loan - its repayment. The mode of the loan account is determined in the agreement: the issued loan can be transferred to the settlement (correspondent) account of the borrower; the bank can pay the client's expenses under the credited transaction as the relevant settlement documents are received, gradually increasing the amount of the client's loan debt, but not more than the amount of the loan provided specified in the agreement.

Commercial banks in countries with developed market economies practice providing a loan in the form of an overdraft, which means that the bank allows the client to have a debit balance on his current account for a short period (up to 1 month).

Overdraft debt may not be formalized by agreement. Therefore, the bank can always refuse to pay from the current account in excess of the funds available on it.

Simple loan accounts are used in banking practice mainly for issuing one-time loans. An enterprise can immediately open several simple loan accounts if it simultaneously uses a loan for several objects and, therefore, loans are issued on different conditions, for different periods and at different interest rates. Such a separate accounting of loans is important for the implementation of bank control over their timely repayment by the borrower.

Blank loans are in the nature of a trust loan and are issued under the "image" of the borrower, with whom the bank has long-term ties and trusts its creditworthiness.

A loan is issued to meet a short-term, up to three months, need for money that arose in the process of production and sale of products and services.

To apply for a loan, the borrower submits an application to the bank - an application on his letterhead. The Bank does not check the validity of the requested loan and the availability of appropriate repayment security. A loan can be issued by sending it to a current account or to pay for the presented payment documents.

Practice shows that banks receive a higher income from blank loans than from other loans, because. This loan is associated with a high degree of risk.

Lending in the order of opening a credit line involves the provision of a loan within the limits of the debt limit and term predetermined by the bank for the borrower. The loan is used by the borrower as needed to pay for the submitted payment documents for inventory items, services and work performed.

When lending in order to open a credit line, the borrower can at any time receive a loan without additional negotiations with the bank. However, the bank retains the right to suspend disbursement and recover previously disbursed amounts if it detects misuse of the loan, insufficient collateral, unsatisfactory state of accounting and warehouse records, or non-fulfillment by the borrower of other conditions of the loan agreement.

The credit line is suspended if there is an overdue debt on a loan for more than 30 days or the company becomes unprofitable.

There are non-revolving and revolving lines of credit.

A non-revolving line of credit terminates after a certain period of time has elapsed and the conditional loan amount has been used up. This is the so-called. target credit line. In this case, the loan is used to fulfill usually one contract.

With a revolving credit line within the planned amount (limit), the loan is issued continuously and automatically repaid, restoring the limit amount.

The term of the credit line is set in the agreement between the bank and the borrower.

It is recommended to issue loans in the order of an open credit line to a borrower who has a stable financial position; profitable activity; who has worked for at least 3 years after the registration of the charter; lacking working capital to maintain a certain volume of production.

The objects of bank long-term lending can be capital investments of enterprises, organizations and citizens for the costs of construction, reconstruction and technical re-equipment of industrial and social facilities, the acquisition of machinery, equipment and vehicles, buildings, structures and other property.

When issuing long-term loans, the loan agreement is necessarily accompanied by a feasibility study, which details the purposes for which the loan is required, provides estimates of the estimated costs that must be paid at the expense of the loan, with a breakdown of the most capacious items (material costs, wages, etc. .)

The planned receipts of raw materials, materials, equipment and other items necessary for the implementation of the credited event must be supported by relevant contracts with suppliers, indicating the volume, cost, delivery time.

A separate section of the feasibility study is the calculation of the client's expected income from the implementation of the financed event or from all types of activities, if the source of loan repayment will be all proceeds from various activities. The calculation of income must be drawn up for the entire planned period of using the loan (by year), indicating both gross income and net income (taking into account the necessary costs, deductions, taxes and other obligatory payments). The client must also provide his studies regarding the implementation of the results of the financed event (products, works, services) at the level of contracts.

These data are the initial basis for determining the effectiveness of the loan and the real terms of its payback. The Bank, as a rule, does not accept unprofitable, non-commercial or projects that do not have a specific social orientation for lending. An exception may be programs whose unprofitability is covered by income from other activities, which ensures payback and repayment of the loan.

The issuance of long-term loans can be made at a time or in stages, as construction and installation work is completed, inventory items are acquired, by transferring funds to pay the bills of suppliers and contractors or to the borrower's current account, and when issuing loans to individual borrowers - in cash when settling with citizens.

Installment payment does not mean that all contributions are the same or evenly received, as a rule they are not the same and are received at different intervals, by means of contributions that are received by the bank monthly, quarterly, once every six months or annually.

The commercial bank monitors the progress of construction and the intended use of the loan. In the event of failures in construction, inefficient use of the allocated loan, the bank applies to the borrower the economic sanctions provided for by the loan agreement.

Mortgage investment systems provide for a mechanism for savings and long-term lending secured by real estate.

Mortgage loans are used to finance the acquisition, construction and redevelopment of both residential and industrial premises. The borrower must be the owner of some building in order to receive the requested loan, which means that in most cases the collateral remains a reliable collateral for the loan.

Currently, there are several types of mortgage credit systems. One of them relies on a commercial developer, for whom real estate is not a commodity, but a commodity and a source of income. This system includes elements of mortgages and loans secured by a new construction object, as well as the portioning of a loan.

Another system is based on a mortgage on an existing property and a loan against it for new construction. The mortgage is opened from the valuation of the existing real estate at new construction prices, taking into account depreciation and the market price predicted upon completion of construction work. In the event that the market valuation of this property is less than the cost of new construction, the developer needs to make an appropriate additional payment to buy out the property and repay the loan.

There are mortgage loan systems that, along with a bank loan secured by a mortgage, provide for the use of a number of additional sources of financing (subsidies from municipalities, financial resources of enterprises and citizens, additional bank loans against additional mortgages on a land plot, cottage, garage and other real estate.

The conclusion of a contract through an intermediary firm or an auction for the purchase and sale of existing real estate with a delay in the transfer of ownership of it for the period of new construction allows financing of new construction at the expense of proceeds from the futures sale of real estate. This system allows to reduce commercial risks.

Liquidity- one of the generalized qualitative characteristics of the bank, which determines its reliability. The bank's liquidity is its ability to fulfill its obligations to depositors and creditors in a timely manner and without loss. The term "liquidity" from the Latin liquid, fluid, means in relation to the bank's assets the ease and speed of their transformation into a monetary form to repay their debt obligations when the appropriate time comes.

Liquidity is assessed from the point of view of the bank's ability to transform its assets into cash or other means of payment to pay for the obligations presented to it in the event of a lack of means of payment, as well as to satisfy the requirements of customers in loans. Funds for this can be accumulated in advance, acquired through the sale of assets or the purchase of liabilities.

Defining a bank's liquidity only as a stock of its cash compared to its needs is a narrow approach. When liquidity is considered as a flow, the possibility of turning less liquid assets into liquid ones, as well as the inflow of additional funds in the form of loans and received income from the bank's operations, are also taken into account.

The concept of "bank liquidity" (both as a stock and as a flow) is much narrower than the concept of "solvency", which includes the relationship of the bank with its counterparties and represents the bank's ability to fulfill obligations to customers in full and in due time. Liquidity is a necessary condition for solvency.

Often in domestic literature, two concepts are confused - liquidity and solvency of CBs, which in practice leads to the identification of methods and ways of maintaining them, and as a result, to unpredictable consequences for the further functioning of CBs.

At the heart of the CB's life is, first of all, its liquidity.

In the absence of liquidity, a bank is unlikely to be solvent. As practice shows, the loss of liquidity by a bank eventually leads to its insolvency, after which, as a result, bankruptcy occurs.

Therefore, in ensuring the activities of CBs of a high level of stability, sustainability and reliability, liquidity is primary, solvency is secondary.

The bank's liquidity presupposes the timely fulfillment of all its obligations, incl. and those that may arise in the future. Sources of funds for the fulfillment of obligations are the bank's cash, expressed in cash balances on hand and on correspondent accounts (with the Central Bank and other commercial banks); assets that can be quickly turned into cash; interbank loans, which, if necessary, can be obtained from the interbank market or from the Central Bank.

Liquidity can be viewed as a tiered system that looks like this:

liquidity of the banking system of the state;

liquidity of an individual bank;

liquidity of the bank's balance sheet;

liquidity of assets;

client liquidity.

The liquidity of the banking system as a whole depends on how liquid the individual commercial banks of the state, as well as the state as a whole.

The bank's liquidity is determined by the degree of correspondence between the volumes and terms of attraction and placement of funds. The need to maintain a liquid level of funds is due to the fact that the cash flow from the sale of bank assets rarely coincides in time with the amount of cash required to cover its debt. The reasons for this are the specifically high proportion of bank liabilities of immediate repayment, as well as the volatility of the value of assets and liabilities with changes in interest rates. Although liquidity is a short-term category, it is necessary to systematically plan its size, taking into account the upcoming needs in the future. At the same time, possible losses may occur as a result of unforeseen changes in the sources or use of bank funds.

The main source of bank liquidity is the satisfaction of the demand for loans and (or) the wishes of depositors to withdraw deposits. The specific (indirect) functions of liquidity are to ensure the confidence of existing and potential customers in the bank, avoid forced unprofitable sale of assets, and limit the risk premium when raising funds. There is an inverse relationship between the bank's liquidity level and another of its most important characteristics - the level of profitability (the higher the first, the lower the second, and vice versa), i.e. cash and cash equivalents required to maintain the required level of liquidity do not generate income or generate insignificant income.

If the bank's liquidity is a characteristic of its financial condition for k.-l. time interval or perspective (liquidity flow), then the liquidity of the balance sheet is determined on a specific date (stock). The concept itself has a limited meaning. It is important for a bank to have not only a liquid balance, but also a liquid state in general at any given time.

The liquidity of assets is one of the most important characteristics of their quality. As the ability of assets to turn into cash, they are divided into highly liquid, liquid, long-term liquidity assets and illiquid assets.

In the practice of domestic banks, highly liquid assets (instant liquidity) consist of cash and equivalent funds; funds in accounts with the Central Bank; funds on correspondent accounts with non-resident banks in developed countries. These assets, if necessary, can be immediately withdrawn from the bank's turnover.

Liquid assets include, except for highly liquid ones, all loans issued by the bank in rubles and foreign currency with a maturity within the next 30 days (excluding prolonged at least once and newly issued loans to repay previously granted loans), as well as other payments in in favor of the credit institution to be transferred within the next 30 days (accounts receivable, amounts of overpayments subject to return to the credit institution as of the reporting date from the mandatory reserves fund).

Long-term liquidity assets represent all loans issued by a credit institution in rubles and foreign currency; funds invested in securities and for the purchase of debt obligations; placed deposits, incl. in precious metals with a remaining maturity of more than one year; as well as 50% of guarantees and guarantees issued by the bank, valid for more than a year.

Illiquid are: overdue loans; doubtful debts; buildings, structures of the bank; unquoted securities; real estate investment.

Since, with a lack of liquidity, the bank's client companies either apply to the bank for a loan or withdraw the balance of funds from their deposits, the liquidity of a credit institution is determined, incl. the liquidity of its customers, which in turn is the liquidity of accounts payable.

The main indicator characterizing the bank's liquidity and adopted by the international banking community in Basel is the liquidity ratio Kl, which is determined by the formula:

where LS is the amount of cash, interbank loans and marketable securities;

A is the total assets of the bank.

In order to control the state of liquidity of commercial banks, the Central Bank of the Russian Federation established the following liquidity ratios:

instant liquidity ratio, which is defined as the ratio of the amount of the bank's highly liquid assets to the amount of the bank's liabilities on demand accounts, expressed as a percentage (min15%);

current liquidity ratio, equal to the ratio of the amount of the bank's liquid assets to the amount of the bank's liabilities on demand accounts and for up to 30 days, in percent (min 50%);

long-term liquidity ratio - the ratio of all long-term debt to the bank with a maturity of more than a year, including issued guarantees, to the bank's own funds, as well as the bank's liabilities on deposit accounts, received loans and other debt obligations for a period of more than a year (max 120%).

Liquidity ratios represent the ratio of one or another part of the assets of varying degrees of liquidity and liabilities of the bank of different types and maturities. Depending on the tasks solved when analyzing the financial condition of the bank, the following liquidity indicators can be used:

short-term assets - large liabilities / total assets;

share of cash in total assets; it is necessary to take into account at the same time that not all of the bank's cash assets can be used to cover its needs in liquid funds, but only a part deposited in the form of mandatory cash reserves;

liquid assets/total deposits;

liquid assets / total amount of all deposits and short-term loans provided to the bank;

liquid assets/demand deposits.

The given indicators are based on the concept of liquidity reserve.

The presence of two signs of the bank's liquidity (timely fulfillment of obligations and without losses) is determined by many internal and external factors that determine the quality of the bank's activities.

Internal factors include: a strong capital base of the bank, the quality of its assets, the quality of deposits, moderate dependence on external sources, maturities of assets and liabilities, competent management, first-class image of the bank.

A strong capital base of the bank means the presence of a significant absolute value of equity capital as the main protective source of absorbing the risk of assets and guaranteeing the funds of depositors and depositors: the larger the bank's equity capital, the higher its liquidity.

Asset quality is determined based on four criteria: liquidity, riskiness, profitability and diversification. The liquidity of assets is the ability of assets to be transformed into cash through their sale or repayment of obligations by the debtor (borrower).

According to the degree of liquidity, the bank's assets are divided into several groups.

The first group consists of first-class liquid assets, which include:

directly the bank's funds located in its cash desk or on correspondent accounts;

government securities held in the bank's portfolio, which it may resort to selling in the event of insufficient cash to pay off obligations to creditors.

Maintaining the volume of the first group of assets at a certain level is an essential condition for ensuring the bank's liquidity.

The second group of assets in terms of liquidity are short-term loans to legal entities and individuals, interbank loans, factoring transactions, commercial securities of joint-stock companies. They have a longer period of conversion into cash.

The third group of assets covers long-term investments and investments of the bank, incl. long-term loans, leasing operations, investment securities.

The fourth group of the bank's assets are illiquid assets in the form of overdue loans, certain types of securities, buildings and structures.

Riskiness as a criterion for the quality of assets means the potential for losses when they are converted into cash.

The degree of risk of assets depends on many factors specific to their particular type.

The risk of a loan is determined by the financial condition of the borrower, the content of the loan object, the amount of the loan, the procedure for issuing and repaying, etc.

The risk of investing in a security depends on the financial stability of the issuer, the mechanism for issuing and selling the security, the ability to be listed on the stock exchange, etc.

According to the degree of profitability, assets are divided into two groups: income-generating and non-income-producing. The higher the share of income-generating assets, the more profit the bank has, other things being equal. And consequently, there is more opportunity to strengthen its capital base, which means that the bank can better withstand the risks it has taken on.

In regulating the structure of assets according to the degree of profitability, reasonableness should be observed, since the unbridled pursuit of profit can result in the loss of assets and loss of liquidity.

A criterion for the quality of assets can also be their diversification, which shows the degree of distribution of the bank's resources in different areas of placement.

Indicators of diversification of assets are: the structure of the bank's assets in the main directions of investment of resources; structure of credit investments by objects and subjects; the structure of the securities portfolio; the structure of currencies with which the bank carries out currency transactions; the structural composition of the banks with which the given bank has established correspondent, deposit and credit relations.

The more diversified the assets, the higher the bank's liquidity.

An important factor determining the degree of bank liquidity is the quality of its deposit base. The criterion for the quality of deposits (on demand, urgent and savings) is their stability. The larger the stable part of the deposits, the higher the bank's liquidity, since in this part the accumulated resources do not leave the bank.

The bank's liquidity is also determined by its dependence on external sources, which are interbank loans. Interbank credit within reasonable limits does not pose a threat to liquidity, on the contrary, it allows to eliminate the short-term lack of liquidity. If the interbank credit occupies the main place in the attracted resources, the unfavorable conjuncture in the interbank market can lead to the collapse of the bank. The bank, which is highly dependent on external sources, does not have its own base for business, it has no prospects for development, and is exposed to a significant risk of instability of its resource base.

The internal factors that determine the degree of liquidity of the bank also include management, i.e. a system for managing the bank's activities in general and liquidity in particular. A high level of management presupposes the availability of qualified specialists, the creation of the necessary information base, and, most importantly, the understanding by the bank's management of the importance of creating a scientific system for managing the bank's activities.

Among the factors that determine the provision of the necessary liquidity of the bank, is also its image. The positive image of the bank allows it to have advantages over other banks in attracting resources and thus quickly eliminate the lack of liquidity. It is easier for a bank with a good reputation to ensure the stability of its deposit base. He has more opportunities to establish contact with financially stable clients, and therefore have a higher quality of assets.

The state of liquidity of banks depends on a number of external factors that lie outside the activities of banks. These include: the general political and economic situation in the country, the development of the securities market and the interbank market, the organization of the refinancing system, the effectiveness of the supervisory functions of the Bank of Russia.

The bank's liquidity is a qualitative characteristic of the bank's activities, due to many factors that are in constant change, therefore, the bank's liquidity is a dynamic state that develops gradually and is characterized by the influence of stable factors and trends, and solvency as a state on a certain date, expressed in the timeliness of the bank's fulfillment of obligations for this date. With this definition of liquidity and solvency, the bank may not fulfill its payment obligations in certain periods, but remain liquid. At the same time, the loss of liquidity suggests systematic insolvency.

In practice, the bank's liquidity is determined by assessing the liquidity of its balance sheet: the bank's balance sheet is considered liquid if the funds on the asset allow, due to their quick sale, to cover urgent liabilities on the liability, i.о. the bank's liquidity ratio is primarily affected by the very structure of the balance sheet assets, as well as the composition and types of active operations. But we must remember that the higher the liquidity of a c.l. asset in the bank's balance sheet, the lower its profitability and vice versa.

The asset of the bank's balance sheet is the cost of banking resources for the purpose of their use, the source of future income based on the results of banking activities.

When evaluating the real level of liquidity of a particular bank, one should not only take into account the potential yield of k.-l. asset (accordingly, the operation for the placement of banking resources), but also take into account the degree of risk associated with the probability of non-repayment of bank funds for the corresponding active operation.

In the practice of banking in Russia, in order to assess the state and subsequent calculation of liquidity indicators, CB assets are divided into five groups according to the degree of risk of bank investments and the possibility of losing part of their value in case of irrecoverability.

Based on the foregoing, we can conclude that the higher the profitability of the bank's assets, the greater the risk of operations on them, but the lower the level of liquidity of the balance sheet, and, consequently, the solvency of the bank as a whole and vice versa.

The need to manage the liquidity of the banks themselves is complemented by government regulation in the interests of macroeconomics. Through the establishment by the central banks of states of liquidity indicators and norms, control over compliance with these requirements and general supervision of the activities of banks, the states manage the operations of CBs, thereby ensuring the stability of the banking system, protecting the interests of depositors and creditors, and essentially implementing the state monetary policy.