Download or read book The Emerging Russian Banking System written by Andrew M. Warner and published by . This book was released on 2001 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Value-added in Russian banks grew 43 percent while GDP declined 32 percent in the early years of the transition. This paper offers explanations for the unusual success of the Russian banking sector and the determinants of individual bank performance. The evidence comes from balance sheet data for 563 Moscow banks and 160 regional banks on January 1, 1995 and January 1, 1996. Important factors include the Central Bank policy of channeling low-interest directed credits to state enterprises through banks, the ability of banks to obtain large-scale interest-free deposits, and the resulting high interest rate spreads in an environment of high inflation, and the extent to which banks were formerly part of the Soviet system.
Download or read book The Emerging Russian Banking System written by Melanie L. Fein and published by . This book was released on 1992 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book A Fistful of Rubles written by Juliet Johnson and published by Cornell University Press. This book was released on 2018-09-05 with total page 265 pages. Available in PDF, EPUB and Kindle. Book excerpt: After the breakup of the USSR, it briefly appeared as though Russia's emerging commercial banks might act as engines of growth for a new capitalist economy. However, despite more than a decade of "reforms," Russia's financial system collapsed in 1998. Why had ambitious efforts to decentralize and liberalize the banking industry failed? In A Fistful of Rubles, Juliet Johnson offers the first comprehensive look at how Russia's banks, once expected to revitalize the nation's economy, instead became one of the largest obstacles to its recovery.Drawing on interviews with Russian bankers, policymakers, and entrepreneurs, Johnson traces the evolution of the banking system from 1987 through the aftermath of the 1998 crash. She describes how dysfunctional institutional procedures left over from the Soviet period hindered the subsequent development of sound financial practices. Johnson argues that these legacies, along with misguided, Western-inspired liberalization policies, led to the creation of parasitic banks for which success depended on political connections rather than on investment strategies. Johnson demonstrates that banking reform efforts ultimately did more harm than good, because Russian officials and their international advisers failed to build the corresponding economic, legal, and political institutions upon which modern market behavior depends.
Download or read book Changes in the Russian Banking System written by Martin P. Kühle and published by diplom.de. This book was released on 1997-08-26 with total page 89 pages. Available in PDF, EPUB and Kindle. Book excerpt: Inhaltsangabe:Abstract: This dissertation analyses the structural changes in the Russian banking system and gives insights into the current market situation. Starting with a review of theoretical aspects of banking in Western economies and the rationale for the existence of banks, the deficiencies of the former socialist banking system are exposed. A large section is dedicated to the special role of the banking system during the process of transition and to an evaluation of how far Russian banks rise to the challenges of these tasks. The historical process of reforming the central and commercial banking system is described, laying emphasis on the legislative changes and the means of supervision. The banking system in Russia has been dominated by rapid growth in the last three years due to high profit expectations. However, many banks granted credits to dubious industrial companies and now face a large amount of uncollectable assets in their credit portfolios. The analysis shows that with rising positive real interest rates and growing competition in the banking market, a large number of small and mediumsized banks will either have to admit bankruptcy or be acquired by expanding banks. The emerging interbank, bond and equity markets are illustrated with regard to the influence of banks. The deficiencies in settlement processes, liquidity, trading rules, and private and commercial law are examined. The next urgently required steps in the reform process are listed. The future progress of the Russian banking system however, is not only dependent on legal and structural changes in related financial and capital markets, but based on the critical assumption of peaceful, politically stable and socially balanced developments in Russia. Inhaltsverzeichnis:Table of Contents: AbstractIV 1.Introduction1 2.Theoretical Aspects of Banking 2.1Theory of Financial Intermidiation3 2.2Thr, Banking System in a Centrally Planned Economy7 2.3The Role of Banks in Russia's Transition to a Market Economy9 3.The Banking Refomis in Russia 3.1Russian Banking Legislation18 3.1.1The Independence of the Central Bank19 3.1.2The Commercial Banking Legislation23 3.2Russian Banking Supervision24 3.2.1The Licensing Process25 3.2.2Creditor Protection and Assessment of Reliability29 3.2.3Accounting and Audit33 4.The Financial Market Situation in Russia 4.1Russian Commercial Banks36 4.1.1The -Former Specialised Banks36 4.1.2The Ministerial Bank38 4.1.3Independent [...]
Download or read book Russia written by Ruben Lamdany and published by World Bank Publications. This book was released on 1993 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recommends a strategy for reform of the Russian banking sector as part of an overall strategy to improve resource allocation in the economy. This study offers a three-to five-year strategy for making the banking sector in Russia more efficient in mobilizing financial savings, allocating resources, and processing payments. The strategy has three policy components: * Phasing out the Central Bank's direct credit programs þ currently the main instrument of monetary policy þ and replacing them with a discount window and limited budgetary subsidies for certain enterprises in key areas * Improving the commercial banking system through the International Standards Bank program, which will gradually phase in higher standards and regulations and encourage banks to adopt them voluntarily * Restructuring the large specialized banks (Rosselkhozbank, Sberbank, and Promstroibank), that now provide credit and other banking services to agriculture, households and small enterprises, and large state-owned enterprises. The study also recommends several high-priority improvements to Russia's financial infrastructure, including improvement of the legal framework, adoption of accounting and auditing standards, and overhaul of the payments system.
Download or read book Restructuring Stabilizing and Modernizing the New Russia written by Paul J.J. Welfens and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 508 pages. Available in PDF, EPUB and Kindle. Book excerpt: Russia has embarked upon a difficult process of systemic transformation and economic opening up. While the initial strong GDP decline seemed to have ended in 1997, the real development was facing even more difficult problems as output declined sharply after the Ruble and banking crisis of August 1998: inflation started to increase again, exports and imports were falling, capital flight increasing and unemployment rising. There is broad disappointment in Russia regarding the transformation failure in 1998 since so many people had hoped that the end of the Soviet command economy would bring democracy, prosperity and international integration. While Poland has been able to double per capita income in the 1990s it has fallen by 50% in Russia and this despite considerable IMF involvement and some (modest) support from other international organizations. What were the reasons for transformation failure in the 1990s? What are the ingredients for long term sustainable transformation? What are the internal and international requirements to avoid a second - possibly tragic - failure of transformation in Russia? An international group of researchers has focussed on these problems during a two-year research project financed by the Alfried Krupp von Bohlen und Halbach Foundation. A series of papers were presented at workshops in Potsdam, Bonn and Moscow in 1999 where this book is devoted to four important issues: the Russian transformation crisis, the topic of restructuring, the need for stabilizing Russia and the requirements for modernizing Russia.
Download or read book Russian Banking written by David Lane and published by Edward Elgar Publishing. This book was released on 2002 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt: '...required reading for all who are seriously interested in the modern Russian economy.' - Pekka Sutela, Slavic Review Russian Banking considers the rise of commercial market-oriented banks in Russia, their links with government and non-financial companies and their role as intermediaries in the provision of finance for investment. The contributors explore the legacy of the Soviet past and current functions of the Russian banking system, contrasting these with those in other post-communist societies and describing peculiarities such as informal networks and corruption. The book also discusses the economic and global aspects of Russia's reform, focusing on financial crises, foreign depositors to Russian banks and the implications for Russian foreign debt. This up-to-date and comprehensive account of commercial banking in modern Russia will appeal to those concerned with the economics of transition or comparative banking. Political scientists and sociologists with an interest in forms of capitalism and the roles of banks will also find the book to be a fascinating read.
Download or read book Russian Federation written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2016-07-13 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses key findings of the Financial System Stability Assessment of Russian Federation. The Russian banking system is weak and likely to need additional capital. Even in the baseline scenario, certain banks will need new capital owing to low profitability and increasing credit losses. The required resources increase in the stress scenarios, but remain manageable. Bank regulation and supervision have greatly improved in recent years, but there is more to be done. Key areas for improvement include related party lending, country and transfer risks, operational risks, and supervisory interactions with external auditors. In addition, the implementation of risk-based supervision is also in progress.
Download or read book Banking on Small Business written by Gail Buyske and published by Cornell University Press. This book was released on 2007 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt: Buyske analyzes three themes in economic development: the global growth of microfinance, banking sector development, and Russian entrepreneurship.
Download or read book 25 Year of the New Russian Bank System written by Nikolaj Ivanovič Krotov and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Emerging Banking Systems written by P. Bongini and published by Springer. This book was released on 2015-12-17 with total page 233 pages. Available in PDF, EPUB and Kindle. Book excerpt: In-depth analysis of the key players (China, India, Brazil, Russia, Turkey, Indonesia, North Africa) of the unprecedented international economic integration of the last 25 years. Despite their success, the fragilities of their banking systems pose constraints to domestic growth and risks to global financial stability.
Download or read book International Expansion of the Russian Banking Sector written by Ekaterina Iakovleva and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Bank Stress Tests as an Information Device for Emerging Markets written by Zuzana Fungáčová and published by . This book was released on 2015 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: The recent financial crisis emphasized the need for effective financial stability analyses and tools for detecting systemic risk. This paper looks at assessment of banking sector resilience through stress testing. We argue such analyses are valuable even in emerging economies that suffer from limited data availability, short time series and structural breaks. We propose a top-down stress test methodology that employs relatively limited information to overcome this data problem. Moreover, as credit growth in emerging economies tends to be rather volatile, we rely on dynamic approach projecting key balance sheet items. Application of our proposed stress test framework to the Russian banking sector reveals a high sensitivity of the capital adequacy ratio to the economic cycle that shows up in both of the two-year macroeconomic scenarios considered: a baseline and an adverse one. Both scenarios indicate the need for capital increase in the Russian banking sector. Furthermore, given that Russia's banking sector is small and fragmented relative to advanced economies, the loss of external financing can cause profound economic stress, especially for medium-sized and small enterprises. The Russian state has a low public debt-to-GDP ratio and plays decisive role in the banking sector. These factors allow sufficient fiscal space for recapitalization of problematic banks under both of our proposed baseline and adverse scenarios.
Download or read book Reaching Out written by and published by World Bank Publications. This book was released on 2005 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The authors (1) present new indicators of banking sector penetration across 99 countries based on a survey of bank regulatory authorities, (2) show that these indicators predict household and firm use of banking services, (3) explore the association between the outreach indicators and measures of financial, institutional, and infrastructure development across countries, and (4) relate these banking outreach indicators to measures of firms' financing constraints. In particular, they find that greater outreach is correlated with standard measures of financial development, as well as with economic activity. Controlling for these factors, the authors find that better communication and transport infrastructure and better governance are also associated with greater outreach. Government ownership of financial institutions translates into lower access, while more concentrated banking systems are associated with greater outreach. Finally, firms in countries with higher branch and ATM penetration and higher use of loan services report lower financing obstacles, thus linking banking sector outreach to the alleviation of firms' financing constraints. "--World Bank web site.
Download or read book Evolution of Monetary Policy Instruments in Russia written by Mr. Tomás J. T. Baliño and published by International Monetary Fund. This book was released on 1997-12-01 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the evolution of monetary policy in Russia, focusing on the period January 1992–December 1995. Special attention is given to the role of monetary policy instruments. Initially, policy was completely dominated by flows of credit from the Central Bank of the Russian Federation (CBR) to the budget, to enterprises, and to other republics in the ruble area. Over time these flows have been reduced and indirect monetary instruments have become key elements of monetary policy implementation
Download or read book Understanding Russian Banking written by Mikhail Khlovenovich Lapidus and published by . This book was released on 1997 with total page 299 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Boards of Directors written by Alexey Karpovich and published by . This book was released on 2019 with total page 8 pages. Available in PDF, EPUB and Kindle. Book excerpt: The study examines the Russian and Belarusian Board of Directors. The study benchmarks remuneration systems of international best practices, international industry recommendations, and internal Corporate governance code's provisions. The Russian Boards of Directors have limited control over the executive bodies. The Russian Bank Boards vary from 5 to 15 Directors. The largest Belarusian Boards vary from 8 to 15 Directors. Best practices show that some jurisdictions provide CEOs with the limitation of their participation in the Board of Directors in accordance with the system of checks and balances. In the world's top-100 largest banks the number of meetings of the Board of Directors varies from 7.6 to 16.2 per year. Russian Boards of Directors schedule meetings far more frequently in order to comply with the legislative requirement to approve transactions with affiliates. Some banks pay only to the Independent Directors, others - do not have remuneration payments at all. Sberbank has effective speed scale additional remuneration of Directors, depending on the extra features. Gazprombank introduced a system of long-term and short-term rewards. The study also estimates the remuneration systems in Russian banks to comply with the revised national Corporate governance code.
