Topic 3. BANKING SYSTEM OF THE RUSSIAN FEDERATION

The concept of banking activity is determined by its essential features and elements that unite them. These signs and elements, in our opinion, include the subject, goals, subjects, content and legal regulation of banking.

The banking system in Russia includes two subsystems: the Bank of Russia and credit institutions. All relations between these subsystems arise, change and terminate in connection with their banking activities.

Banks and other credit institutions operate in a certain sector of the market - in the system of monetary and financial relations: This determines the subject of their activities: money, currency values, other financial instruments.

The regularities of the monetary system (issue of money and money circulation, accumulation of money and their placement) are largely determined by the functions of money. The most effective implementation of these functions in the form of banking services is the subject of activity of credit institutions.

a) The function of money as a measure of value is realized in such forms of banking activities of credit institutions as opening and maintaining bank accounts; crediting funds to bank accounts, currency revaluation, interest accrual, etc.

In relation to the Bank of Russia, this function is manifested in such types of its activities as the issuance of money, maintaining their exchange rate and purchasing power, and organizing the settlement system in the country.

b) Informational function of money. As for the entries in the accounts, ti they are nothing but money, but only in a non-cash form. Money can have a paper form (cash) or a dematerialized form (digital record on the account, electronic media). In our opinion, non-cash money is a specific type of banking information that is used in settlements. Account entries are information about the value of money.

Banking activity can be represented as a constantly changing information system, which is just a reflection of the finances and the movement of money in the accounts of a particular bank. Accordingly, money circulation is the circulation of value information within the entire monetary and financial system.

In this regard, the importance of the role played by information and its legal protection in the banking system becomes quite obvious. For example, information can increase or, conversely, reduce the attractiveness of bank deposits, shares, and various financial instruments of securities.

Therefore, the banking activities of credit institutions and the banking activities of the Bank of Russia are interconnected in a number of areas. At the same time, only the Bank of Russia issues money and organizes money circulation in the country. In this, as well as some other features, its banking activity differs from the activities of commercial banks and other credit organizations.

c) Money performs the function of a means of circulation (payment). Accordingly, credit organizations provide a direct circulation of money. They are integrated into the general monetary banking system, have correspondent relations with the Bank of Russia and other credit organizations, carry out settlements between various organizations, enterprises and institutions: The function of world money is manifested in various kinds of servicing export-import operations by banks, in such as a transfer, foreign currency exchange, in various kinds of conversion operations, etc.

d) Money has a systemic function. The system function of money is that they perform the function of accumulation. Accordingly, commercial banks accept deposits and issue loans. In this sense, the movement of loan capital or, for example, the attraction of deposits can be represented as certain systems that acquire new qualities as they are combined into more productive systems in which an increment in the value of money occurs.

Banks accumulate capital as a monetary system. Then they allocate capital. Thus, the monetary microsystem of a credit organization is integrated into other systems through banking activities, for example, into systems of the real economy through the stock market.

Objectives of banking

The objectives of the banking activities of credit institutions and the objectives of the activities of the Bank of Russia are different. This is due to their legal status and functions in the monetary and financial systems: the Bank of Russia is a public institution that regulates the banking system and exercises banking supervision, while the role of credit organizations is determined by private economic needs and interests.

a) Credit institutions strive to get the maximum profit from their banking operations and transactions. In this sense, banking activity is a kind of entrepreneurial activity. However, it is limited only to the framework of banking operations and transactions. As will be shown later, credit organizations are prohibited from engaging in production, trade and insurance activities.

b) The activities of the Bank of Russia, as already mentioned, are determined by the following goals: maintaining the exchange rate and purchasing power of the ruble; strengthening and development of the banking system and organization of an efficient settlement system. Therefore, as provided in the law, this activity is not aimed at making a profit. At the same time, the law provides that all expenses of the Bank of Russia are reimbursed from its income, and in accordance with this, it carries out all types of banking operations.

The content of banking

In terms of its content, banking activity includes a list of possible banking operations provided for by law and a banking license.

In Art. 5 of the Federal Law "On Banks and Banking" named not only banking operations, but also transactions. Note that the current legislation does not contain a normative definition of the concept of a banking operation, but only uses these terms in Art. 5 of the said Law.

The federal law provides that all banking operations and transactions are carried out in rubles, and in the presence of an appropriate license from the Bank of Russia - in foreign currency.

a) Banking activities are banking operations and transactions, as well as other actions of a credit institution, which are directly aimed at developing the efficiency and increasing the security of banking services.

Banking has many facets. It is necessary to distinguish between the main and auxiliary banking activities.

The main banking activity is the activity of a credit institution, which includes banking operations and transactions (V.A. Shevchuk, D.A. Shevchuk. Banking Law: Study Guide. - M .: RIOR Publishing House, 2005).

Auxiliary banking activities are aimed at providing favorable and safe conditions for the implementation of the main banking activities. These activities are indirectly related to the results of the core banking activities. For example, auxiliary banking activities include informatization, security, a security system and other similar activities of various divisions of a credit institution (Shevchuk D.A., Shevchuk V.A. Money. Credit. Banks. A course of lectures in a concise presentation: Training method. allowance - M: Finance and statistics, 2006).

The content of the concept of "banking" in addition to the theoretical has a purely practical and even applied value (for example, for the correctness of accounting, determining financial results and tax payments). At the same time, we recall that the Bank of Russia establishes accounting rules and controls their implementation by credit institutions. In addition, he supervises the financial position of credit institutions.

From this point of view, as well as for other legal reasons, it is desirable that precise concepts are enshrined in the laws regulating banking activities. However, Federal Law No. 3-FZ of February 1996, 17 “On Amendments and Additions to the Law of the RSFSR “On Banks and Banking Activities in the RSFSR”” does not contain a definition of the concept of “banking activities”. Meanwhile, in practice, this gives rise to many ambiguities, since the term itself is used in a number of regulations. The supervisory divisions of the Bank of Russia face the same difficulties during inspections of credit institutions.

Sometimes on the same issues there is a dispute between the tax authorities, credit institutions and the Bank of Russia. For example, in regulations governing the procedure for attributing certain costs to bank expenses, the wording "if the costs relate to banking activities" is used. The question of what relates and what does not relate to banking can sometimes become the subject of a dispute between the tax inspector and the bank, and, as the practice of litigation between tax authorities and banks confirms, it is very relevant.

b) Entrepreneurial activity of a credit institution is limited.

This limitation is explained by the fact that a credit institution, unlike other commercial organizations, uses borrowed funds and thereby creates a certain risk not only for itself, but also for its clients. Therefore, in Art. 5 “Banking Operations and Other Transactions of a Credit Institution” of the “Federal Law “On Banks and Banking Activities”” states that a credit institution is prohibited from engaging in production, trade and insurance activities. It is clear that if credit institutions begin to engage in entrepreneurial activities, this will lead to a decrease in the liquidity of assets, not to mention the fact that in a country with a high crime rate this will facilitate the commission of various fraudulent transactions.

However, credit organizations can always circumvent this ban. It is known that some banks were engaged in the fact that they created subsidiaries (at best) or even shell companies and safely transferred money from clients, including depositors, there. At the same time, they themselves, of course, did not engage in any trading activities. The federal law could have provided for more restrictions, in addition to the ban on "engaging in manufacturing, trading and insurance activities," but it did not provide for them. Such restrictions, but only clear and understandable, are needed. In Russia, it is very important to take measures to ensure that assets are not withdrawn from banks.

Subjects of banking activity

Banking entities are the Bank of Russia and credit institutions. They have special legal capacity, which is used by them to establish and carry out banking activities. At the same time, their legal capacity is determined by the goals of banking activities enshrined in the law. These goals are different, therefore, the nature and scope of their legal capacity are different.

a) The Bank of Russia acts in accordance with its legal status, enshrined in the Federal Law "On the Central Bank of the Russian Federation (Bank of Russia)". It regulates the process of creating the banking system and, accordingly, is responsible for preventing systemic risks that arise in the process of interaction between credit institutions. Therefore, it establishes certain financial standards that all credit institutions must comply with. But above all, it registers newly created commercial banks and other credit organizations. He is obliged to organize the regulatory regulation of all banking activities and supervision of it in accordance with the requirements of the Constitution of the Russian Federation, federal constitutional laws and federal laws.

b) Credit institutions are commercial legal entities and act on the basis of their charters and in accordance with the licenses issued to them by the Bank of Russia in order to make a profit. They are created in the organizational and legal form provided for by civil law. However, the Federal Law "On Banks and Banking Activity" narrowed down the possibilities of using other organizational and legal forms in banking, except for a business company - a joint-stock company, a limited liability company and an additional liability company.

Author: Shevchuk D.A.

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