Isaeva, Ekaterina Anatolyevna - Strategic management in financial and credit organizations: a textbook for students of higher educational institutions studying in economic specialties. Isaeva, Ekaterina Anatolyevna - Strategic management in

Relevance of the research topic. The state of the banking system and the efficiency of its functioning largely determine the investment activity and the rate of economic growth of the state. However, her state of the art does not yet fully meet the requirements of the Russian economy.

In order to create a stable banking system that enjoys the confidence of investors and the public and meets international standards and the objectives of ensuring economic growth, it is necessary, first of all, to create conditions for its accelerated capitalization and improvement of the quality of functioning.

In this regard, it is important to determine the real level of capitalization of banks and the banking sector of the country as a whole, since the reporting of credit institutions, as is known, does not fully reflect the risks of their activities.

The need for a more accurate quantitative determination of the amount of capital is of fundamental importance for calculating the bank's performance indicators and, consequently, the objectivity of assessing the stability of both a separate credit institution and the entire banking system. If sufficient attention is paid to the quantitative assessment of capital in the theory and practice of banking, then the problem of assessing its quality in science has been poorly developed, despite the fact that the quality of capital of Russian banks remains quite low.

Almost all economic entities are interested in the growth of the capitalization of the banking sector and its efficiency: the owners and executive management of individual banks, regulators, customers and society as a whole. At the present stage of development, Russia's orientation towards cooperation with international financial and credit organizations, integration into the international banking community, which imposes strict requirements on the size and, especially, on the quality of capital, is extremely important. The insufficient level of capitalization of the Russian banking system is an obstacle on this path.

The latest decisions of the Basel Committee testify to the relevance of the problem of banking capital not only for domestic banks. In Russia, it has acquired particular importance due to the conditions of the transition period, the discrepancy between the size of the capitalization of the banking system and the scale of the economy as a whole, the high risks of banking activities and the weakness of management.

Objective information helps to assess the real financial position of the bank, predict its development and behavior in the market, and take appropriate measures to increase the capital base. Obviously, increasing the reliability of each credit institution affects the efficiency of the entire banking system. However, the quantitative and qualitative parameters of the latter cannot but have their own content. Therefore, considering the role of banking capital in the modern banking system, the author highlights two aspects: analysis of the equity capital of credit institutions and the capital of the entire banking system.

The decision of such complex task impossible without understanding the economic essence of banking capital. Its disclosure was the subject scientific research for many years. The most well-known concepts of capital tend to be of a political economy nature. Banking capital is a kind of capital, in our opinion, a relatively independent economic category that has not been sufficiently studied in theoretical and practical terms.

The complexity, multidimensionality and underdevelopment of a number of issues related to banking capital, the debatability of the problem of its quantitative and qualitative assessment necessitated scientific understanding and analysis of this phenomenon. The need for a systematic study of banking capital, both at the macro and micro levels, predetermined the choice of topic, purpose, objectives, structure and content of the study.

The degree of scientific development of the problem. Questions of the essence and economic content of capital as an important economic category were developed by scientists - political economists, modern foreign and domestic authors.

The problems of the essence, content and evaluation of banking capital as one of its forms were reflected in the works of foreign researchers such as P. Rose, J. Sinki, J. R. Hicks, as well as in the works of domestic scientists - O.N. Antipova, I.A. Blanca, A.G. Gryaznova, V.V. Ivanova, V.V. Kiseleva, M.Yu. Matovnikova, R.G. Olkhova, A.I. Olshany, A.M. Proskurin, A.Yu. Simanovsky and others.

When studying the theory and practice of banking, both domestic and foreign economists pay the most attention to banking capital at the micro level. The problems of the capital of the banking system have not yet received sufficient coverage in the economic literature.

In spite of big number there are few special works devoted to the assessment of bank capital, and they, as a rule, single out one aspect of the problem, most often the determination of capital adequacy, which does not provide an integrated approach to the analysis of this complex category. In addition, there remain unresolved, controversial, general and particular problems of the functioning of banking capital that require further development.

In particular, the disclosure of the content of the process of functioning of banking capital at the macro level requires further scientific research. An analysis of the approaches that have developed in the Russian economic literature on the problem of banking capital leads to the conclusion that often the assessment of banking capital is reduced to the calculation of capital according to the established methodology of the Bank of Russia, in connection with which there is a need for an integrated approach to assessing and disclosing the essence of banking capital of various levels.

Thus, the relevance and insufficient development of the problem of the essence, content and evaluation of banking capital, the debatability of issues, their theoretical and practical significance determined the purpose and objectives of the dissertation research.

Purpose and objectives of the study. The purpose of the dissertation work is a comprehensive analysis of banking capital and its impact on the stability of the Russian banking system, the development of evidence-based recommendations for improving the methods of its assessment.

Achieving this goal involves solving the following tasks:

To reveal the essence of banking capital and the mechanism for its implementation at different levels of the banking system;

Show the specifics of the functioning of banking capital at the micro, meso and macro levels;

Research trends in the development of banking capital;

Analyze Russian and foreign methods for assessing capital, indicators of its sufficiency, identify their advantages and disadvantages;

Develop an algorithm for assessing the quality of bank capital;

Justify the need to assess the capital adequacy of the banking system;

Assess the possibilities of adapting foreign experience in bank capital management to Russian conditions (during the transition to IFRS and Basel II).

The object of research is the banking capital of Russia.

The subject of the study is the quantitative and qualitative characteristics of banking capital and methods for their evaluation.

The theoretical basis of the study is the works of domestic and foreign economists who considered the problems of functioning and valuation of banking capital (O.N. Antipova, I.A. Blank, A.G. Gryaznova, S.I. Ignatiev, V.V. Kiselev, V. I. Kolesnikov, T. W. Kokh, O. I. Lavrushin, A. G. Movsesyan, S. A. Murychev, R. G. Olkhova, G. S. Panova, T. V. Paramonova, Rose Peter S., Sinki D. Jr., AB Stishkovsky, G. A. Tosunyan, A. D. Sheremet, etc.), legislative and instructive materials regulating the activities of commercial banks.

The methodological basis of the study is systemic, comparative and statistical methods of analysis, vertical and horizontal analysis. Grouping, evaluation, comparison and analogy methods were used as tools.

The information base was the materials of scientific-practical conferences and seminars, publications in periodicals, legislative and regulatory acts, statistical data, open information sources of the global Internet.

The work was done in accordance with clause 9.8. “Problems of Ensuring the Consistency of Monetary and Banking Macropolitics and a Microapproach to the Development of the Banking System of the Russian Federation. Combination of an active banking policy with ensuring the stability of the banking system of the Russian Federation and its development strategy. Expansion of the capital base of Russian monetary institutions and directions for improving their role in the Russian economy” and clause 9.15 “Assessment of the capital base of a bank. Comparative assessment of domestic and foreign practice, ways of development” Passport of the specialty 08.00.10 “Finance, monetary circulation and credit”.

The scientific novelty of the study lies in the development of an algorithm for the qualitative and quantitative assessment of bank capital at micro, meso and macro levels.

The most significant scientific results received personally by the applicant are as follows:

1. The concept of banking capital has been clarified based on a multi-level approach to its analysis. The necessity, along with the capital of an individual bank (micro level), to determine the capital of the meso- and macro-level is substantiated. A meso-level capital has been allocated, which determines the ability of systemically important credit institutions concentrating most resources and assets of the banking system, to provide funding for priority areas of economic development. At the macro level, the quantitative and qualitative certainty of the capital of individual banks and their groups is transformed into the total bank capital. The result of this transformation is the financial stability of the banking system as a whole.

2. In contrast to the interpretation of the quality of banking capital, common in the economic literature, which limits it to indicators of sufficiency and the ratio of structural elements (main and additional capital), the definition of quality is given as a set of properties that characterize the ability of capital to implement its basic functions, its real adequacy to the scale of the bank's activities and resistance to market fluctuations.

3. The quantitative and qualitative characteristics of the assessment of bank capital are delineated. Quantitative characteristics, along with the generally accepted ones (the minimum amount of the authorized capital and the capital adequacy ratio), include: the annual growth of banking capital and its share in GDP; comparative indicators characterizing the volume of assets and capital of the largest Russian banks in comparison with the banking system of the country as a whole and banks in developed countries. The qualitative characteristics of capital assessment include the completeness of the implementation of its basic functions (protective, operational, pricing), the optimal structure of capital, the adequacy of the requirements of the Bank of Russia for capital formation, investment attractiveness, the level of recapitalization and the possibility of reinvesting funds.

4. An algorithm for assessing the quality of capital has been developed, including the analysis of: qualitative characteristics of capital assessment; factors affecting the change in the characteristics of capital assessment (external and internal); changes in the actual values ​​of capital - positive or negative dynamics of its indicators.

5. For the first time, the concept of "capital adequacy of the banking system" is disclosed, which characterizes the ability of the total capital of credit institutions to provide: protection from systemic risks; investment attractiveness and competitiveness of the banking system; compliance with international banking standards; the needs of the economy in credit resources.

Theoretical and practical significance of the research results. The theoretical significance of the dissertation is to develop a new approach to revealing the essence of banking capital and recommendations for improving its assessment.

The main provisions and conclusions can be used by credit institutions when preparing teaching materials, in research work and in educational process in the training of specialists in the field of banking, financial and banking management, and can also serve as the basis for further scientific research in the field of banking capital assessment.

The algorithm for assessing the quality of bank capital, proposed by the applicant, is of independent importance, which makes it possible to improve the methods of its assessment.

Testing and implementation of research results. Separate conclusions of the study were reported at the meetings of the department, tested in reports at scientific and practical conferences: “ Economic theory and practice: problems of interaction” (Moscow, MESI, 2002); “Strategy for the Development of the Banking Sector of the Russian Economy” (Moscow, MMIEIFP, 2005), where they received positive feedback.

The main provisions of the dissertation work were tested in the educational process of the Moscow State University of Economics, Statistics and Informatics and the Moscow International Institute of Econometrics, Informatics, Finance and Law, used in the study of the disciplines of the banking cycle, in the development of teaching aids.

The introduction substantiates the relevance of the problem under consideration, identifies the purpose and objectives of the study, defines the object, subject and methodology of the study, and outlines the scientific novelty of the work, its theoretical and practical significance.

The first chapter reveals the content of the concept of "bank capital", shows its role and place in the modern banking system of Russia, highlights the main problems and trends in the development of the banking capital of the Russian Federation.

The second chapter discusses ways to assess bank capital, ways to improve its efficiency.

In conclusion, the main results of the study are summarized.

Conclusion.

In accordance with the goal and objectives of the dissertation, three main groups of problems are investigated and substantiated.

The first group of problems is related to the analysis of the methodology for studying banking capital. revealing its essence and content.

The starting point for the study of this group of problems was the identification and definition of the essence of capital as such.

The subject of scientific analysis for the purposes of this study is money capital in the form of banking capital.

With the development of banking and the emergence of special theoretical studies, a categorical apparatus began to form, in which the term "banking capital" gradually took center stage. Initially, it was not singled out as an object of independent scientific research at all, since it was considered as a form of money capital.

At present, when the problem of capitalization of the banking system has become crucial for its development, there is a need for a comprehensive analysis of banking capital as an independent economic category that expresses the interests of a wide range of participants in economic relations, which is due to both its generic characteristics and the specific functions of banks.

Banking capital is considered in the economic literature from different positions. Conceptually, the paper highlights the approaches presented in both Russian and Western economic literature. Based on their study, the paper proposes a grouping of approaches to the definition of this concept: a quantitative interpretation and an essential approach to the definition of bank capital.

The constitutive feature of bank capital should be considered its ability to increase value, ensuring the formation of the bank's credit potential and its effective use on a repayable basis. At the same time, a system of relations of personified economic entities (owners, management, customers, the state, correspondent banks, etc.)

The thesis notes that a quantitative approach is necessary and legitimate, but it does not contribute to ensuring sustainability, since it does not solve the problem of the quality of the bank's capital and the capital of the banking system.

In the course of the study, it was revealed that the evolution of banking capital was expressed in the expansion of the scope of activities of credit organizations, in the development of the functions of capital, in the gradual solution of the problem of its adequacy to banking risks and, as a result, turning into the main factor in the stability and reliability of the banking system.

In most studies of banking capital we are talking on the capital of individual credit institutions. If the banking system is considered, then, first of all, attention is drawn to its general insufficient capitalization and structural heterogeneity. As a rule, there are separate small, medium, large banks and relatively separate banking groups that differ significantly in a number of ways (capital concentration, functional orientation of activities, financial stability, coverage of the banking services market, etc.). In this regard, the dissertation substantiates the need to distinguish between the analysis and evaluation of banking capital in the areas of its manifestation.

The author substantiates the need to assess bank capital not only at the level of an individual bank or the banking system as a whole, but also at a certain level of its functioning, designated in the work as a meso level.

At the micro level, capital expresses the interests of the bank's owners and other subjects of its activity through the mechanism for implementing the functions of capital.

At the mesolevel, capital determines the ability of backbone credit institutions, concentrating most of the resources and assets of the banking system, to provide financing for priority areas of economic development.

At the macro level, the quantitative and qualitative certainty of the capital of individual banks and their groups is transformed into the total bank capital. The result of this transformation is the financial stability of the banking system as a whole.

The second group of problems is devoted to the study of the features and degree of implementation of their functions by banking capital.

The essence of an economic phenomenon, as is known, is realized through its functions, which fully applies to banking capital.

Each of the functions is potentially inherent in capital, but in the actual process of its use, the degree of implementation of these functions depends on many external and internal factors, among which socio-economic and legal conditions for the functioning of the banking sector, the nature of ownership of banking capital, and the level of development of corporate governance are of particular importance. and risk - bank management.

The paper studies the process of implementing the functions of bank capital at different levels of the banking system (micro-, meso- and macro-).

The paper substantiates the need to differentiate functions according to the degree of importance into basic ones - protective, operational, pricing, and derivatives - registration, issue, regulatory.

The basic functions are more related to the realization of the interests of the bank's owners. The functions of the capital of an individual credit institution can be implemented through its structural elements, which include: authorized capital, funds, profit.

Efficiency of implementation ensures that the capital complies with the regulatory requirements of the supervisory authorities, the development strategy of the credit institution and the objectives of increasing its market value.

Special attention turned to the pricing function, determined solely by the goals of the owners and management of the bank, not subject to the regulation of regulatory bodies, and, unlike other functions, little studied scientifically.

Ultimately, the effectiveness of the implementation of capital functions at the macro level characterizes the reliability of the banking system, its compliance with international banking standards.

The completeness of the implementation of functions at the mesolevel guarantees the stability of the banking system in the event of a crisis, contributes to the acceleration of its capitalization, the introduction modern technologies, market development of innovative products and services.

The most difficult problems are considered ( low level banking capital, insufficient transparency of banks, disproportion in the placement of banking capital in the country) and trends (concentration and centralization of capital, temporary strengthening of the role of state-owned banks, expansion and diversification of demand for banking services) in the development of banking capital. It is concluded that many problems and issues remain unresolved, emphasizing the complexity of the current stage of development of the Russian banking system, the size and quality of banking capital of which do not allow positioning it as an international class system with great opportunities.

The problem of low capitalization is highlighted by the author in the system of general economic trends reflecting the current level of economic development. The dissertation noted that in recent years there has been a tendency to increase the absolute value of banking capital (both the authorized capital and the total capital of the banking system). However, this did not have a fundamental impact on the capitalization of the banking sector, since the amount of banking capital does not allow a full assessment of its qualitative component.

The disproportion in the distribution of banking capital throughout the country has not actually changed over the past years and is a source of high systemic risks in the functioning of the banking system, which is caused not so much by competition in the banking services market as by the fragmentation of the Russian economy, its weak internal integration, the concentration of banking capital mainly in Moscow and other major centers.

The Bank of Russia has consistently advocated the need to consolidate banks while reducing their number. In the last two years, there has been a trend towards consolidation of the Russian banking business, which will undoubtedly lead to the concentration and centralization of banking capital.

Recently, one of possible ways The solution to the problem of increasing the level of capitalization is to merge several small banks into one large one. An analysis of sources shows that in the Russian economy, in the overwhelming majority of cases, mergers occur through acquisitions. The unpopularity of mergers as a method of consolidation is explained, first of all, by the lack of a regulatory framework that allows these procedures to be carried out.

Insufficient transparency of banks hinders the processes of concentration and centralization of banking capital. The dissertation explored the issue of ownership of capital from the point of view of the influence of this parameter on stability and reliability, the possibility of increasing the capital base, both for each individual bank and the national banking system as a whole.

The existing segmentation of the domestic banking system determines the medium-term trend of its development. The temporary strengthening of the role of state banks and foreign credit and financial institutions is due to the characteristics of these structures: they have relatively cheap and long-term liabilities, significant bank capital, the ability to attract external resources, and control the markets for the most attractive loans and financial instruments.

Expanding and diversifying the demand for banking services requires sufficient bank capital. Due to a competent and balanced management policy, banks with a small but high-quality capital structure can position themselves in the banking services market as financially stable and quite attractive to customers.

The paper focuses on the need to create a sustainable resource base, primarily due to the quantitative and qualitative characteristics of banking capital.

The analysis of modern problems and trends in the development of banking capital, carried out in the work, made it possible to draw a disappointing conclusion about the functional inefficiency of capital at all levels considered, which naturally requires finding ways and means to solve this problem.

The third group of problems includes questions of quantitative and qualitative evaluation of bank capital.

The dissertation analyzes various Russian and foreign methods for assessing bank capital, its sufficiency indicator, systematizes the goals and objectives of the assessment, depending on the requirements of stakeholders, as well as its methods.

Increasing competition in the banking business, the complication and expansion of operations carried out by banks, the services provided, necessitates increasing the importance of assessing bank capital and finding ways to improve it both on the part of institutions in the financial and credit sector represented by their owners, shareholders, management, and on the part of third-party potential and real bank customers.

The paper proposes an approach to the assessment of capital, based on a combination of its quantitative and qualitative assessment.

The assessment of the bank's capital according to the methods of regulatory bodies is covered by the example of the methods of the Bank of Russia and the provisions of the Basel Committee.

Analysis legislative framework in terms of assessing the value of bank capital, it indicates a trend in the use of indicators aimed at assessing its qualitative characteristics. The introduced indicators and methods mainly implement international approaches to assessment, and the ongoing changes should be considered as positive trends in the development of the banking sector of the economy.

The paper highlights the main provisions of the Basel Capital Accord (Basel I, I), analyzes the requirements for capital adequacy, taking into account the amendments and adjustments made.

Changes in the structure and nature of the risks of the banking business were the driving force for the development of a new capital agreement - Basel I. The analysis of the new document indicates an update in the methodology for calculating the risks of a commercial bank: a new procedure for calculating credit risk, introducing operational risk into the calculation.

The provisions of Basel II are of fundamental importance for determining the capital of the banking system. Regulators need to pay more attention to assessing the systemic risks of the banking sector.

The study of foreign practice of determining capital and its risky component for calculating the adequacy ratio allows us to conclude that Basel II contains a qualitatively more high level assessment and calculation of banking risks.

In addition, attention is focused on the inclusion in the text of the document in addition to " minimum requirements on capital” of two new components: “banking supervision” and “market discipline”.

When considering the main provisions of foreign methods of regulatory bodies, the positive and negative aspects of the transition of banks to IFRS and Basel II are highlighted.

The dissertation notes that international standards, despite their rigidity, will not make the work of banks more efficient and reliable, but they will help increase the reliability, transparency and information content of bank reporting and its adequacy to new accounting requirements.

The new capital requirements of the Basel Committee give grounds to define capital adequacy as a quantitative and qualitative concept. In this sense, it can be considered as an element of assessing the quality of capital.

The capital adequacy ratio today plays a leading role in assessing the financial stability of a credit institution.

The paper defends the position of supporters of a differentiated approach to establishing the capital adequacy ratio. If we judge the quality of bank capital only by the indicator of sufficiency, there may be a misconception about the stability of a credit institution. The quality of capital and the quality of assets must be taken into account and assessed.

The presence of "sufficient" capital is not a strict indicator of the reliability of the bank and the protection of the interests of its depositors and creditors. The value of this indicator has a real value only in a systematic analysis of the bank's activities, i.e. in conjunction with other analytical indicators. Bank supervisors and management must carefully weigh the risk faced by the bank when assessing capital adequacy and must resort to more sophisticated assessment methods based on modern concept risks. Compliance with this requirement will be evidence of a real transition of the Bank of Russia from a formalized to a substantive approach to microregulation.

However, determining a sufficient amount of capital and maintaining it within the established limits is one of the main ways of managing capital, both on the part of the regulators and the bank itself. Therefore, a constant analysis of the size, structure and capital adequacy is a sine qua non modern bank management.

Currently quantitative characteristics capital in the domestic banking system are far from international standards, so the importance of sufficiently high requirements for the quality of capital is increasing.

The paper analyzes the transformation of regulatory authorities' requirements for capital, which, within the framework of supervision, is recognized as sufficient to cover the risks assumed by a commercial bank. Particular attention is paid to the new paradigm of microregulation, which is reflected in the new regulatory requirements of the Bank of Russia. Changes in requirements are determined by the shift in emphasis from form to content and the practical orientation of regulation with the dominance of substantive concepts and principles. Thus, new approaches make it possible to overcome the shortcomings of traditional ones due to a different vector orientation, which primarily concerns the qualitative assessment of bank capital.

The study gives a definition of the quality of banking capital, which, in the opinion of the dissertator, reveals its economic essence.

The quality of bank capital is a set of properties that characterize the ability of capital to implement its basic functions, its real adequacy to the scale of the bank's activities and resistance to market fluctuations.

An algorithm for assessing the quality of banking capital has been developed, including the analysis of: qualitative characteristics of capital; factors influencing changes in the characteristics of capital assessment (external and internal); changes in the actual values ​​of capital (positive-negative dynamics of its indicators).

When assessing the qualitative characteristics of capital, the author adheres to the methodology of its three-level analysis. An indicator of the quality of banking capital is the completeness of the implementation of its basic functions (protective, operational, pricing) at different levels: the micro level ensures that the capital meets the regulatory requirements of supervisory authorities, the development strategy of a credit institution and the objectives of increasing its market value. meso-level - guarantees the stability of the banking system in case of crisis, helps to accelerate its capitalization, the introduction of modern banking technologies, the development of a market for innovative products and services. macrolevel - characterizes the reliability of the banking system, its compliance with international banking standards.

In order to clarify the conceptual apparatus for assessing banking capital, the paper substantiates the expediency of introducing the term "capital adequacy of the banking system" into scientific circulation and proposes its author's interpretation.

Capital adequacy of the banking system is a generalizing indicator of systemic stability that characterizes the ability of the total capital of credit institutions to provide: protection from systemic risks; investment attractiveness and competitiveness of the banking system; compliance with international banking standards; the needs of the economy in credit resources.

The value of the capital of the banking system should be sufficient to ensure public confidence that the banking system is able to meet its current and future needs and compensate for losses under unfavorable conditions for the country's economic development.

Analysis of the factors influencing the change in the characteristics of capital involves the allocation of external and internal.

External factors include: the general state of the economy and the financial sector; regulatory and legal framework for the formation of bank capital and supervisory activities of the Bank of Russia; competitiveness of the banking system; tax policy of the state; state policy regarding the development of regional banks, etc.

The internal factors influencing the change in the characteristics of the assessment of capital include: transparency of the ownership structure; sources of formation of the resource base; quality of corporate governance.

The proposed algorithm for assessing the quality of banking capital allows us to give a more complete and objective description of capital, which is of fundamental importance in assessing the banking business as a whole.

Within the framework of the study, the problem of valuation of equity capital was considered, based on the currently relevant qualitative certainty of banking capital and its inclusion in the category of basic pricing functions.

The dissertation provides an overview of the types of value known in modern theory and practice and shows the enormous practical significance of the market value of a credit institution, its capital.

Based on the results of studying the approaches existing in banking theory and practice for assessing the market value of capital, it was revealed that at present the cost of a bank's equity capital is in most cases calculated using income and cost methods. The comparative approach has become more widely used in assessing the equity capital of industrial companies.

The current so-called “fair value” stands out in particular. The paper argues that the definition of fair value is quite applicable to bank capital. However, there are a number of reasons preventing objective judgments about such a value, in particular, due to the insufficient information field of data, the lack of transparency of the bank's activities, the unreliability of the initial data, etc.

The theoretical conclusions and proposals of a practical nature available in the work allow, to a certain extent, to improve the management of both the capital of a credit institution and the capital of the banking system as a whole.

1. the federal law dated July 10, 2002 No. 86-FZ “On the Central Bank of the Russian Federation (Bank of Russia)” (as amended on July 29, 2004).

2. Federal Law No. 395-1 of December 2, 1990 “On Banks and Banking Activities” (as amended of December 23, 2003 No. 185-FZ).

3. Federal Law No. 14-FZ of February 8, 1998 “On Limited Liability Companies”.

4. Federal Law No. 208-FZ of December 26, 1995 “On Joint Stock Companies”.

5. Federal Law No. 144-FZ of July 8, 1999 “On the Restructuring of Credit Institutions”.

6. Federal Law No. 177-FZ of December 23, 2003 “On insurance of deposits of individuals in banks of the Russian Federation”.

7. Statement of the Government of the Russian Federation and the Bank of Russia dated 05.04.2005 No. 983p-P13/01-01/1617 “On the Strategy for the Development of the Banking Sector of the Russian Federation for the Period up to 2008”.

8. Bank of Russia Instruction No. 1 dated October 1, 1997 “On the procedure for regulating the activities of banks” (invalid).

9. Instruction of the Central Bank of the Russian Federation dated 16.01.2004 No. 110-i “On Mandatory Ratios of Banks”.

10. Instruction of the Central Bank of the Russian Federation dated October 1, 1997 No. 17 “On the preparation of financial statements”.

11. Official communication of the Central Bank of the Russian Federation dated 02.06.2003 "On the transition of the banking sector of the Russian Federation to international financial reporting standards".

12. Regulations of the Central Bank of the Russian Federation No. 205-P dated December 5, 2002 “On the Rules for Maintaining Accounting Records in Credit Institutions Located on the Territory of the Russian Federation”.

13. Regulation of the Central Bank of the Russian Federation No. 31-P dated June 1, 1998 “On the Methodology for Calculating Own Funds (Capital) of Credit Institutions” (invalid).

14. Bank of Russia Regulation No. 159-P, dated November 26, 2001, “On the Methodology for Calculating Own Funds (Capital) of Credit Institutions” (invalid).

15. Bank of Russia Regulation No. 215-P, dated February 10, 2003, “On the Methodology for Determining Own Funds (Capital) of Credit Institutions”.

16. Bank of Russia Regulation No. 12-P, dated 30.12.1997, “On Peculiarities of Reorganization of Banks in the Form of Mergers and Acquisitions”.

17. Regulation of the Central Bank of the Russian Federation dated March 19, 2003 No. 218-P “On the procedure and criteria for assessing the financial position legal entities founders (participants) of credit institutions”.

18. Regulation of the Central Bank of the Russian Federation dated July 9, 2003 No. 232-P “On the procedure for the formation of reserves for possible losses by credit institutions”.

19. Regulation of the Central Bank of the Russian Federation dated March 26, 2004 No. 254-P “On the procedure for the formation by credit institutions of reserves for possible losses on loans, on loans and equivalent debts”.

20. Ordinance of the Central Bank of the Russian Federation dated February 10, 2003 No. 1246-U “On actions to be taken when facts (signs) of the formation of sources of own funds (capital) using improper assets” are revealed.

21. Ordinance of the Central Bank of the Russian Federation dated January 16, 2004 No. 1379-U “On assessing the financial stability of a bank in order to recognize it as sufficient for participation in the deposit insurance system”.

22. Aleksashenko S., Akindinova N. Prospects for the recapitalization of Russian banks (analytical study) // Bulletin of financial information. 2000. - No. 7(62), July.

23. Andrianov V. Restriction of banking risks: the recommendations of the Basel Committee and the mandatory standards for the activities of banks // Banking. 2004.- №10.

24. Antipova O.N. Institutional sufficiency of banking capital // Banking. 1997.- No. 7.- pp. 16-20; 1997.- No. 9.- p.2-6.

25. Antipova O.N. Regulation of market risks// Banking. - 1998.-№3.-p.30-33.

26. Adamova K.P. Basel II critical approach of specialists // Business and banks. - 2004. - No. 25.

27. Basel II: collateral optimization // Business and banks. 2004. - No. 24.

28. Banking// ed. G.N. Beloglazova, L.P. Krolivetskaya. M.: Finance and statistics, 2003.

29. Banking // ed. IN AND. Kolesnikova, L.P. Krolivetskaya. M.: Finance and statistics, 2002.

30. Banking// ed. O.I. Lavrushin. M.: Finance and statistics, 2002.

31. Banking: management and technology // ed. A.M. Tavasiev. M.: UNITY-Dana, 2001.

32. Banking. Dictionary / trans. from English. M.: Infra - M, 2001.

33. Russian banking system in the mirror of international trends and standards. Recommendations of the XIII International Banking Congress // Money and Credit. - 2004. No. 7.

34. Batrakova L.G. Economic analysis of the activities of a commercial bank. M.: "Logos", 1998.

35. Big Economic Dictionary / edited by A.N. Azrilyana. - M.: "Institute of new economy", 2002.

36. Belyakov A.B. On the application of bank reporting to assess its value // Finance and credit. 2002. - No. 22.

37. Bobyr Yu.A. Transition of the banking system to IFRS. Problems of reforming // Accounting and banks. - 2002. No. 9.

38. Bogacheva G.N., Denisov B.A. On the diverse interpretation of the category "capital" // Management in Russia and abroad. - 2000. No. 1.

39. Bogacheva G.N., Denisov B.A. Real and fictitious capital. M., 1999.

40. Blank I.A. Fundamentals of financial management. Kiev: Nika - Center, 1999.-vol. 1.

41. Blank I.A. Management of capital formation. Kiev: Nika-Center, 2000.

42. Blank I.A. Capital management. - Kiev: Nika - Center, 2000.

43. Buevich S.Yu., O.G. Korolev Analysis of financial results of banking activities. M.: KNORUS, 2004.

44. Buzdalin A.B. Bank reliability as a measure of subjective confidence // Banking. 1999. - No. 2. - p.30-35.

45. Buzdalin A.B. Strategic reliability of the bank // Banking. -2000. No. 8. - p.2-7.

46. ​​Buzdalin A.V., Britashinsky A.J1. Expert system for bank analysis based on the CAMEL methodology// Business and banks. 2000. - No. 22. -p.1-3.

47. Vasilyeva V. The Central Bank will help banks calculate capital // Kommersant. 02/11/2003. - No. 23.

48. Viktornov A. Difficulties of capitalization // Profile. 11/24/2003. -#44.

49. Gerasimova E.B. Reliability of bank capital//Accounting and banks.-2001.-№12.

50. Gilyarovskaya L.G., Panevina S.N. Comprehensive analysis of financial and economic performance of banks and its branches. - St. Petersburg: Peter, 2003.

51. Gotovchikov I.F. Comprehensive optimization of the management of the economic condition of commercial banks//Financial management. 2003. - No. 2. - p.66-77.

52. Gruning H. van, Cohen M. International Financial Reporting Standards. Practical guide. In Russian and English. lang. 2nd ed., rev. and additional Moscow: Ves Mir Publishing House, 2003.

53. Gurvich V. New reporting standards require new standards of behavior // Banking. 2003.- No. 4.

54. Egorov S. Association of Russian Banks: New Strategic Guidelines // Analytical Banking Journal. 2002. - No. 5(84), May.

55. Yeritsyan A.B. Capital adequacy ratio: legal aspects// Business and banks. 2002. - No. 21.

56. Zheglov A.B. Methodology for estimating the value of a bank based on its official reporting // Finance and credit. 2002. - Nos. 17-18.

57. Zakharov V. On the ways further development banking system of Russia // Analytical banking journal. 2001. - No. 9(76), September.

58. Zubkova C.B. On the transition of Russian commercial banks to international financial reporting standards // Finance. - 2002.- No. 6.

59. Ivanov V.V. Is there banking capital in Russia? // Analytical banking magazine. 2002. - No. 9(88), September.

60. Ivanov V.V. Bank reliability analysis. Practical guide. M: "Russian Business Literature", 1996.

61. Ilyasov S.M. Management of assets and liabilities of banks // Money and credit. 2000. - No. 5, pp. 20-26.

62. Capitals continue to unite: analysis of the world press // Financier. 1999. - No. 3-4.

63. Karminsky A.M., Peresetsky A.A., Petrov A.E. Ratings in the economy. -M.: Finance and statistics, 2005.

64. Konigsberg R.B. Management of own capital of a commercial bank / Dissertation, M, 2001.

65. Kirichenko N. Standard ideology // Profile. 11/24/2003. - No. 44.

66. Kiselev V.V. Bank capital management. Theory and practice. - M.: Economics, 1997.

67. Kiselev V.V. Banking capital is the supporting structure of the market economy // financial business. - 1997. - № 12(50).

68. Klyuchnikov M.V., Shmoylova P.A. Commercial banks: economic and statistical analysis. M.: Market DC Corporation LLC, 2004.

69. Commercial dictionary: 3000 terms / A.N. Azrilyan. 1992.

70. Korosteleva M.V. Methods of analysis of the capital market. - St. Petersburg: Peter, 2003.

71. Kurochkin A.B. Resources of a commercial bank and optimization of their structure // Dissertation, M, 2000.

72. Kovaleva G. Banking capital in the Russian economy: regional aspect // Analytical banking journal. 2002. - No. 3 (82), March.

73. Kozlov A.A., Khmelev A.O. Quality of a credit institution //Money and credit.-2002. -#11.

74. Kozlov A.A. On approaches to improving the quality of management and organization of banks // Money and credit. -2005. No. 2.

75. Kozlov A.A. Some Topical Issues in the Development of the Russian Banking Sector // Money and Credit. 2004. - No. 2.

76. Commercial banks / E. Reed, R. Kotter, E. Gill, etc.; translation from English. ed. V.M. Usoskina.- M.: SP "Cosmopolis", 1991. 480s.

77. Konstandyan A. The role of the bank's own capital and analysis of capital adequacy // Financier. -1997 No. 12.

78. Kosoy A.M. Capital of a commercial bank // Money and credit. 1993. - No. 9. - pp. 33-44.

79. Kokh T.U. Ufa bank management: Spektr, 1993.

80. Kochmola K.V. International standards for regulating the policy of commercial banks // Finance and credit. 2002. - No. 8.

81. Kosheleva E.A. Bank capital. On Functions, Methods of Calculation and Regulatory Requirements // Money and Credit. 2000. - No. 8. - page 3739.

82. Kravtsova S. Capital adequacy of a joint-stock bank: legal regulation // Business and banks. 1998. - No. 33 (407).

83. Kudryavtseva M.G., Kharlamov G.A. Basel I: new rules of the game // Banking. 2004. - No. 12.

84. Lavrushin O.I. From banking theory to contemporary issues its development in the economy // Banking. 2003. - No. 8.

85. Larionova I.V. Reorganization of commercial banks. - M.: Finance and statistics, 2000.

86. Larionova I.V. Management of assets and liabilities of a commercial bank. M.: Publishing house "Consultbanker", 2003.

87. Lukasevich I.Ya., Barannikov P.E. Improving methods for assessing the reliability of banks // Accounting and banks. 2002. - No. 9.

88. Lunev H.H., Moskvin V.A. Analysis of the quality of functioning of a commercial bank// Banking. - 1997. No. 12. - With. 10-14.

89. Luntovsky G.I. Problems and Prospects for the Development of the Russian Banking Sector (Speech at the XII Yalta Conference April 26-29, 2004) // Money and credit. 2004. -№5.

90. Mamonova I.D. Criteria for assessing the reliability of a commercial bank // Business and banks. 1994. - No. 99.

91. Marichev SA Capitalization of the Russian banking system: problems and growth prospects// Money and credit. 2004. -№11.- p.44-51.

92. Maslenchenkov Yu.S. Financial management in a commercial bank. Book 2: Technological mode of lending, 1996.

93. Materials of the XI International Banking Congress // Money and credit. 2002. - No. 6.

94. Materials of the XII International Banking Congress //Money and credit. 2003. - No. 6.

95. Materials of the XIII International Banking Congress// Money and credit. 2004. - No. 6.

96. Materials of the XII Congress of the ARB // Money and credit. 2002. - No. 5.

97. YuO. Materials of the XIV Congress of the ARB // Money and Credit. 2003. - No. 5.101. Matovnikov M.Yu. Analysis of Russian banks based on IFRS reporting: risks and opportunities // Banking. 2004. - No. 5.

98. Matovnikov M.Yu. Protracted rehabilitation // Banking. -2004.-No. 11.103. Matovnikov M.Yu. New system regulation of capital adequacy of the Basel Committee "for" and "against" // Money and credit. 2001.-№2.

99. Matovnikov M. Facade and shutters of new reporting // National Banking Journal. -2004. -May.

100. Medvedev H.H., Mikhalev O.V. Consolidation of banks: assessment of economic efficiency // Money and credit. 2004. - No. 12.

101. International financial reporting standards // Russian edition, M "Askeri", 1999.

102. Meyer J.-A. Cook's coefficient: main aspects / Money and credit. 1993. - No. 7. - pp.62-70.

103. Mekhryakov V.D. Banking sector development strategy: is there a place for medium and small banks? // Banking. 2004. - No. 4.

104. Mekhryakov V.D., Koshman S.N. Efficiency of the commercial bank. Existing concepts and rating systems. - M, 2002.

105. Z. Moiseev S.R. Consolidation in the banking sector and the problem of property // Banking. 2005. - No. 3. 1 N. Moskvin V. The main goal of the development of a commercial bank // Banking. - 1997.- No. 5. - pp. 42-46.

106. Molchanov A.B. commercial bank in modern Russia: theory and practice. M.: Finance and statistics, 1996.

107. Motylev V.E. Financial capital and its organizational forms. -M.: Sotsegiz, 1959.

108. Murychev A.B. Current situation in the Russian banking sector //

109. Paramonova T. The transition to IFRS will really assess the capital of each bank // Financial Director. 2003. - No. 5 (11).

110. Paramonova T.V. On the transition of the Russian banking system to IFRS // Money and credit. 2003. - No. 2.

111. Paramonova T.V. 2004 year of transition of the Russian banking sector to the preparation of financial statements in accordance with international standards // Money and credit. -2004. - No. 1.

112. Transition of Russian banks to the international accounting system. Perspectives and consequences (based on the materials of the Internet - press - conference with T.Paramonova) // Accounting and banks. 2002. - No. 9.

113. Pisarenko P. Mergers and acquisitions of banks as a factor in maintaining competitiveness in the financial services market // Analytical banking journal. 2002 . - No. 3 (82), March.

114. Plisetsky D.E. Russia's entry into the WTO and its possible consequences for the national banking system // Banking. 2004.-№1.

115. Plisetsky D.E. Assessing the stability of the Russian financial sector // Banking. 2005. - Nos. 2-3.

116. Polushkin V.Yu. Capital adequacy analysis of a commercial bank // Accounting and banks. 1999. -№11.

117. Popular economic and statistical dictionary-reference book / ed. I.I. Eliseeva M, 1993.

118. Proskurin AM The capital of banks is the first line of "defense" // Financial business. - 1997. - No. 3.

119. Proskurin A.M. On the structure of banking capital and evaluation of its effectiveness // Money and credit. 1996. - No. 10. - p.52-55.

120. Proskurin A.M. Paradoxes of calculating the norm of banking capital // Business and banks. 1998. - No. 28 (402).

121. Pshenitsyn I.V. On the nature of capital // Bulletin of Moscow University. 2002. - No. 2.

122. Reshetkin K.A. Sravnitel'nyi podkhod i osobennosti ego ispol'zovaniya v otsenke kreditnykh organizatsii [Comparative approach and features of its use in assessing credit organizations]. Voprosy otsenki. -2001.-№2.

123. Reshetkin K.A. Estimation of the market value of a commercial bank. - M.: Faculty of Economics, Moscow State University, TEIS, 2002.

124. Rosenberg Jerry M. Dictionary of banking terms. M., 1997.

125. Russian Statistical Yearbook 2003. Stat. collection / Goskomstat of Russia. M., 2003.

126. Russian Statistical Yearbook 2004. Stat. collection / Goskomstat of Russia. M., 2004.

127. Rose Peter S. Banking management. M.: Delo, 1997.

128. Rudko Silivanov V.V., Afanasiev A.A., Lapina K.V. Basel Accords on Banking Capital and Risks of Derivative Financial Instruments // Dengi i kredit. - 2004. - No. 2.

129. Safronov V.A. Issues of capitalization and sustainability of the Russian banking sector // Money and credit. 2004.- №6.

130. Safronov V.A. Some analytical aspects of assessing the financial stability of the banking sector // Money and Credit. -2005. -#2.

131. Nb. Sakharovsky S.N. Bank capital in the restructuring of the economy. Publishing House "St. Petersburg State University of Economics and Finance", 2001.

132. Sedova I.Yu. Transparency of credit institutions in the light of banks' transition to IFRS // Money and credit. 2002. - No. 6.

133. A strong banking system is a guarantee of national sovereignty. Interview with the President of the ARB G. A. Tosunyan // Banking. -2003.- No. 11.

134. Simanovsky A.Yu. Bank capital adequacy: new approaches and prospects for their implementation // Money and credit. 2000.- №6.

135. Simanovsky A.Yu. Basel principles of effective banking supervision and their implementation in Russia // Money and credit. 2001. - No. 3.

136. Simanovsky A.Yu. Principles and rules in the regulation of banking activity: certain aspects of methodology and practice // Money and credit. 2005. - No. 2.

137. Sinky D. Jr. Financial management in commercial banks M.: Catallaxy, 1994.

138. Sinogeikina E.G. Evaluation of the market value of the bank's own capital: a new field of activity for the appraiser // Questions of assessment. -2002.-№1.

139. Smirnov V. Basel Challenge // Banking. 2004. - No. 2.

140. Smith A. Research on the nature and causes of the wealth of nations. M.: Sotsegiz, 1962 (1997).

141. Modern economic dictionary / ed. Raizberg B.A., Lozovsky L.Sh., Starodubtseva E.B. M.: Infra - M, 1997.

142. Modern financial and credit dictionary / M.G. Lapusty, P.S. Nikolsky M.: Infra - M, 1999.

143. Suvorov A.B. Comparative analysis indicators and assessment of stability and efficiency of the bank's financial activity // Finance and credit. 2001. - No. 16.

144. Suvorov A.B. IFRS and Russian Accounting Rules // Banking. -2003. No. 7.

145. Suvorov A.B. The main approaches to the transformation of the reporting of banks according to international standards // Banking. 2003. - No. 12.

146. Sukhov M.I. Market discipline and relationships between the banking supervisory authority and credit institutions. Dengi i kredit. -2003.-№6.

147. Tarankova E.A. IPO prospects in the banking business // Banking. 2005. - No. 2.

148. Telen-Pishke X. International financial reporting standards and supervisory requirements for capital // Business and banks. 2005. - 14 (750) April.

149. Trends in the development of the German banking system and experience for Russia. Scientific publication / ed. G.N. Beloglazova, D. Hummel, T.N. Nikitina, K. Breger. St. Petersburg: Publishing House "Business Press", 2002.

150. Dictionary terms of market economy / V.P. Tarasova, F.A. Krutikova. M., 1993.

151. Torkanovskiy E. The structure of equity capital // The Economist. -1999.-№2.

152. Tosunyan G.A. On the reform of the Russian banking system // Analytical banking journal. - 2001. No. 9 (76), September. 16 8. Management of the activities of a commercial bank (bank management) / ed. O.I. Lavrushin. M.: Lawyer, 2003.

153. Usoskin V.M. Basel standards for the adequacy of banking capital: the evolution of approaches // Money and credit. 2000. - No. 3.

154. Fetisov G.G. Choice of Methods for Assessing the Stability of Russian Banks // Analytical Banking Journal. - 2002. No. 07.171. Fetisov G.G. To the question of the stability of the banking system //

155. Finance. 2003. - No. 2. - With. 11-13.

156. Fetisov G.G., Yudenkov Yu.N. Organizational aspects of the formation of a sustainable banking system// Money and credit. -2002. No. 8. - p.32-37.

157. Fetisov G.G. Assessment of the financial stability of a commercial bank //Accounting and banks. 2002. - No. 10.

158. Fetisov G.G. Strengthening the stability of the banking sector// Financial business. 2002, - September-October.-p. 18-26.

159. Financial and credit encyclopedic Dictionary//ed. A.G. Gryaznovoy M.: Finance and statistics, 2002.

160. Foster J., Logovinsky E. New provisions of the Basel Committee and issues of banking risk management// Banking. - 2001.- No. 12.

161. Foster J. Transition to international standards of banking accounting and reporting: problems and prospects// Money and credit. 2002. - No. 6.

162. Hicks J.R. Cost and capital. -M.: "Progress "Univers", 1998. 179. Charles Wolf Encyclopedia of Banking and Finance//www.cofe.ru/Finance/russian. 180. Cherkasov V.E. Financial analysis in a commercial bank. M.: INFRA-M, 1995.

163. Sheremet A.D. Financial analysis in a commercial bank. M.: Finance and statistics, 2002.

164. Shcherbakova G.N. Banking systems of developed countries. - M.: Exam, 2001.

165. Tsarkov V.A. On the quality of corporate governance and the price of a bank's "inflated" capital // Banking. 2003. - No. 2.

166. Effective economic growth: theory and practice // ed. T.V. Checheleva-M.: Exam Publishing House, 2003.