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Lecture notes, cheat sheets
Money. Credit. Banks. Private banking ("Private banking") (lecture notes)
Directory / Lecture notes, cheat sheets Table of contents (expand) Private banking ("Private banking") Private banking - an elite private banking service for individuals - originated in Western Europe in the late XNUMXth - early XNUMXth centuries. Gradually, it turned into a special institution, implying the highest level of reliability and competence - many banks managed the capitals of wealthy families for centuries. Here, two main principles of private banking have been developed: lengthening the life of capital, ensuring the financial stability of the family from generation to generation, and maximum trust in the relationship between the bank and the client, which is formed thanks to multiservice that satisfies the needs of rich and demanding people. In practice, within the framework of private banking, a banking specialist is attached to a client - an individual, who deals exclusively with managing the assets of this client. For Russia, private banking is far from a new phenomenon: this sector made its first steps even before the 1998 financial crisis. "Western models were externally copied, but the reasons for the development of this service sector in countries with developed economies and in our country were different. In the United States, for example, special attention is paid to the diversity and quality of services provided, while in our country, for quite understandable reasons, the confidentiality of information was more valued, which the client provided it to his trusted banker.The “critical minimum” of the amount at which a specialist was attached to a person was also different. The universally recognized standard of banking for a wealthy client is a Swiss private bank that provides private banking services. Literally in recent years, the practice of private banking has successfully developed in Russia. Private banks arose in Switzerland in the mid-18th century., when individual founders pooled their capital to conduct banking activities. The very concept of a “private bank” appeared not because such a bank served only private clients, but because the bank belonged to private individuals. Clients came to the founders and gave them their money. And the bank’s shareholders were responsible for these deposits with all their property and bore full joint liability. Now Swiss private banks, of course, do not bear unlimited liability for their obligations. However, they still deal with the family financial affairs of persons with a large fortune. As a rule, a Swiss private bank is organized as a club structure with annual membership fees. Most of these credit organizations have rich traditions. Sometimes two or three generations of a family could be served in the same bank. In Russian practice, the term "private bank" is often perceived as any non-state. What is invested in the concept of "classic Swiss private bank?" These are the founders - private individuals and clients - also only private individuals. In modern Russia, there was no analogue to this yet. Of course, there are banks in which the founders are individuals, but banks are universal: they provide services to both individuals and companies. Russian private banking originated as a VIP service of some universal banks for "the most expensive clients." However, literally over the past year, this practice has developed into a completely separate area of banking activity. Of course, private banking in Russia, as well as in Switzerland, is understood as an individual service for private wealthy clients, and a range of banking services and products that is not inferior in scope and quality to that provided by Swiss private banks. There is one "but": only a few banks provide a financial planning service that combines all banking products provided to an elite client into a single complex. According to research by the consulting company INTERFINANCE MV (INTERFINANCE), the main difference between Russian private banks is that a potential client of a Swiss bank must prove their own respectability and provide recommendations from clients already served. In Russia, the opposite is true so far: banks are looking for clients and must prove that they can manage personal capital professionally and without risk. Domestic private banks have only recently appeared, they do not yet have a two-hundred-year history, although this, as they say, is a matter of time. After all, our banks, in addition to the high professionalism of their employees, have Russian clients - our main asset. Compatriots are the best clients of a private bank. They are friendly and very devoted to the bank, conscientiously fulfill all their obligations. They are not spoiled or spoiled. Private banking is a whole package of services: various operations with bank accounts, plastic cards, individual tax planning and financial consulting services, investment banking services, client asset management, private real estate management. Of course, the client can purchase all these services separately. But it will be much more effective to combine them as part of financial planning. Schematically, a financial plan is a detailed list of the client's income and expenses for several years ahead. It takes into account the tax obligations of the client, the preservation of the inheritance and the management of the transfer of inherited property, asset management. In accounting language, financial planning means drawing up a personal balance of assets and liabilities of the client (in the West, the term "profit and losses" is used). Such a table is built in the statics of the current moment. There are certain assets and liabilities, and it is assumed that the client will no longer place his funds anywhere and borrow nothing. The financial plan gives a picture of the most rational distribution of positive and negative cash flows over time, allows you to predict when the client should take out a loan, and when to invest his free money. The financial plan is periodically adjusted in accordance with changing situations. Thus, financial planning is a comprehensive solution for managing the client's capital, a higher level of private banking (www.interfinance.ru). In Switzerland, this service is called "family office". The client orders only financial planning, within which he already receives the entire palette of banking products. Features of retail banking services - Retail banking ("Retail banking") Provision of retail banking services is one of the promising areas of the banking business, which is becoming more and more important for domestic credit institutions day by day. Meanwhile, work with the population has its own specifics. In particular, when organizing it, it is necessary to provide mass customer service, create a network of additional offices, operating cash desks and exchange offices, and expand the list of services offered as much as possible. In transactions with individuals, as a rule, small amounts of money are involved, therefore, when implementing this service, the bank will have to minimize its costs in this area. Hence the stringent requirements for the means that automate it. The software package can be designed to automate the front- and back-office divisions of the bank and covers almost all areas of its activities in servicing individuals. Databases and algorithms are designed and developed in such a way that they can serve a large number of clients at the same time. There are various schemes for organizing the information and accounting process: online (when operations are performed simultaneously with a single database in several bank divisions) and offline (when the databases of these divisions are separated). Software products built within the framework of a single ideology can be used in divisions of a credit institution with a different number of employees, volume and range of operations performed. The system automates a wide range of retail banking services, including the following operations: - according to the deposits of the population in rubles and foreign currency (with the implementation of logical and arithmetic control over the correct execution of these operations); - with plastic cards; - currency exchange (including acceptance for collection and examination) and with traveler's checks; - with securities, lottery tickets, commemorative coins and precious metals ; - with safe boxes; - receiving utility bills with the use of KKM and without their use; - accounting for valuesstored in various divisions of the bank, as well as their acceptance for collection at the evening cash desk and the recalculation cash desk; ▪ others incoming and outgoing cash transactions, as well as the issuance of cash using an electronic cashier. Activity can be automated operating cash desks outside the cash node installed in trade organizations, allowing you to pay for goods both in the national currency and in the currency of other states. The system can implement universal "Operating cash desk", which allows you to work with various types of valuables (currency, plastic cards, payment documents, securities and forms, coins, ingots) and provides a unified accounting of these valuables within the organizational and staffing structure of the bank. The system allows you to implement any organizational and staffing structure of a credit institution, using flexible mechanisms for distributing user rights, assigning the necessary functions, and combining users into groups (teams, shifts). It is possible to automate both the calculation of taxes for various types of transactions, and the maintenance of accounts of non-resident clients in accordance with the requirements of the tax authorities. The execution of transactions must comply with all the requirements of the current regulatory and legislative acts of the Central Bank of the Russian Federation and the Savings Bank of Russia for the provision of services to individuals (both residents and non-residents). The system allows you to carry out in the central branch of the bank arithmetic and logical control of operationsheld in subordinate branches. Thanks to the flexible mechanism for reflecting transactions performed on the bank balance sheet (account account assignment), the client can set up any accounting posting schemes these operations. Integration with other back office applications allows you to set up the necessary technological chains to meet almost any accounting requirements for various types of banking services. To work with the database, you can use SQL queries and restore the database in case of its destruction as a result of a system failure. Author: Shevchuk D.A. << Back: Regulation of monetary circulation >> Forward: Credit consulting (provision of consulting services on lending)
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