Money. Credit. Banks. Legislation regulating banking activities (lecture notes)

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Money. Credit. Banks. Legislation regulating banking activities (lecture notes)

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Banking Legislation

Banking Law - a set of rules of law containing regulations related to banking, that is, establishing the legal status of the banks themselves and other credit institutions, regulating the public relations of banks, as well as their private law relations with customers. In other words, banking law includes norms that are more or less related to banking activities.

In Russia, the following economic and managerial grounds acted as the conditions for the emergence and formation of the concept of "banking law":

▪ creation of new credit organizations or commercialization of existing banks, the purpose of which is to make a profit with the help of financial institutions used at their own risk;

▪ transformation of a one-tier banking system into a two-tier one, which gave rise to the activity of commercial credit organizations, which are the main intermediaries in the financial transactions of society, which requires banking law;

▪ development of the money market and financial services market.

The organization and activities of banks are regulated by a set of legal norms that constitute banking law. To the formation and activities of credit institutions, the norms governing property turnover in general are applied - for example, the norms of the Civil Code, and the norms, the immediate purpose of which is to regulate certain issues of banking activity.

Legal regulation of banking activities is carried out by the Constitution of the Russian Federation, the Federal Law "On banks and banking activities" dated February 3, 1996 N 17-FZ, Federal Law "On the Central Bank of the Russian Federation (Bank of Russia)" No. 10.07.2002-FZ of July 86, 23.12.2003 (as amended on December XNUMX, XNUMX), other federal laws, Bank of Russia regulations.

The Constitution of the Russian Federation has the highest legal force, direct effect and application throughout the territory of the Russian Federation. Laws and other legal acts adopted in the Russian Federation must not contradict the Constitution of the Russian Federation.

The Constitution of the Russian Federation contains a number of norms important for banking law. It establishes that the legal regulation of banking activity should be carried out only by federal laws adopted by federal government bodies. Regulation of banking activities at the level of the subjects of the Federation is not allowed, since, according to paragraph "g" of Art. 71 of the Constitution, establishing the legal foundations of the single market; financial, currency, credit, customs regulation, money issue, the basics of pricing policy, federal economic services, including federal banks, are under the exclusive jurisdiction of the Russian Federation.

The Constitution of the Russian Federation contains norms regulating the monetary system of the Russian Federation as a whole. It establishes that the currency in the Russian Federation is the ruble; the introduction and issue of other money in the Russian Federation are not allowed. The issue of money is carried out exclusively by the Central Bank of the Russian Federation, while the Constitution establishes the principle of independence of the Central Bank of the Russian Federation from other state authorities in the exercise of its main function - to protect and ensure the stability of the ruble.

Article 103 of the Constitution of the Russian Federation establishes the basis for the appointment and dismissal of the Chairman of the Central Bank of the Russian Federation.

The right of citizens to entrepreneurial activity, including through the provision of banking services, is based on constitutional norms. The Russian Federation guarantees the unity of the economic space, the free movement of goods, services and financial resources, the support of competition, and the freedom of economic activity. In the Russian Federation, private, state, municipal and other forms of ownership are recognized and protected in the same way.

Civil Code of the Russian Federation. It defines the concept of entrepreneurial activity and its features, organizational and legal forms of legal entities; the code establishes the concept and content of bank deposit agreements, bank accounts, loan agreements, the grounds for liability of the parties, etc.

In addition to the Civil Code of the Russian Federation, federal laws (FZ) occupy the most important place in the system of banking legislation: "On banks and banking activities" dated February 3, 1996 N 17-FZ, "On the Central Bank of the Russian Federation (Bank of Russia)" dated 10.07.2002/86/23.12.2003 N XNUMX-FZ (as amended on XNUMX/XNUMX/XNUMX), "On the insolvency (bankruptcy) of credit organizations" No. 25-FZ of February 1999, 40 (as amended by Federal Law No. 02.01.2000-FZ of January 6, XNUMX), "On currency regulation and currency control" from 10.12.2003 N 173-ФЗ, "On the securities market" dated April 22, 1996 N 39-FZ, "On Protection of Competition in the Financial Services Market" of June 23, 1999 N 117-FZ (as amended by the Federal Law of December 30.12.2001, 196 N XNUMX-FZ), etc.

By-laws (Decrees of the President of the Russian Federation, Decrees of the Government of the Russian Federation) play a significant role in the regulation of banking activities. Banking law is characterized by multi-level regulatory regulation.

In the system of by-laws, first of all, it is necessary to name the Decrees of the President of the Russian Federation, which are adopted on the basis of and in the development of laws. For example, Decree of the President of the Russian Federation "On the activities of foreign banks and joint banks with the participation of funds of non-residents in the territory of the Russian Federation" dated November 17.11.93, XNUMX No.

Banking legislation includes a number of Government Decrees (Decree of the Government of the Russian Federation "On approval of the rules for banks to conduct transactions for the sale and purchase of measured ingots of precious metals with individuals" of June 30.06.1997, 772 N 12, Decree of the Government of the Russian Federation "On the features of the issue and registration of bonds of the central bank of the Russian Federation" dated October 1999, 1142 No. XNUMX and others).

Most of the by-laws regulating banking activities are adopted by the Central Bank of the Russian Federation, which has the right to carry out rule-making activities on issues within its competence and issue instructions, regulations and instructions of the Central Bank of the Russian Federation. Regulations of the Bank of Russia:

▪ mandatory for federal government bodies, government bodies of constituent entities of the Russian Federation and local governments, all legal entities and individuals;

▪ cannot contradict federal laws;

▪ come into force 10 days after the day of their official publication in the official publication of the Bank of Russia (Bulletin of the Bank of Russia), except for cases established by the Board of Directors;

▪ do not have retroactive effect;

▪ must be registered with the Ministry of Justice of the Russian Federation in the manner established for state registration of normative legal acts of federal executive bodies.

Normative acts of the Bank of Russia establishing the following are not subject to state registration:

▪ foreign currency exchange rates against the ruble;

▪ changes in interest rates;

▪ size of reserve requirements;

▪ the amount of mandatory standards for credit institutions and banking groups;

▪ direct quantitative restrictions;

▪ accounting and reporting rules for the Bank of Russia;

▪ procedure for ensuring the functioning of the Bank of Russia system.

Also, other regulatory acts of the Bank of Russia are not subject to state registration, which, in accordance with the procedure established for federal executive bodies, are not subject to registration with the Ministry of Justice of the Russian Federation.

If necessary, these acts are sent to all registered credit organizations. Draft federal laws, as well as normative legal acts of federal executive bodies concerning the performance by the Bank of Russia of its functions, are sent for the opinion of the Bank of Russia.

Normative acts of the Bank of Russia may be appealed to the court in the manner established for contesting the normative legal acts of federal government bodies.

Author: Shevchuk D.A.

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