Isaeva, Ekaterina Anatolyevna - Strategic Management in Financial and Credit Organizations: Tutorial for students of higher educational institutions studying for economic specialties. State awards, honorary titles, thanks

Relevance of the research topic. From the state of the banking system and the effectiveness of its functioning, the investment activity and the rate of economic growth of the state are largely dependent. However, Her. modern condition Until fully meets the requirements of the Russian economy.

To create a sustainable banking system, which enjoys the confidence of investors and the population, relevant to international standards and objectives of ensuring economic growth, it is necessary, first of all, to create conditions for its accelerated capitalization and improving the quality of operation.

In this regard, it is relevant to identify the real level of capitalization of banks and the banking sector in general, since the reporting of credit institutions, as is known, does not reflect quite full risks of their activities.

The need for a more accurate quantitative determination of the amount of capital is of fundamental importance for calculating the indicators of the Bank's activities and, consequently, the objectivity of the assessment of sustainability, both a separate credit organization and the entire banking system. If a quantitative assessment of capital in theory and practice of banking is given sufficient attention, then the problem of assessing its quality in science has been developed weakly, despite the fact that the quality of capital of Russian banks remains sufficiently low.

In the growth of capitalization of the banking sector and its effectiveness, almost all economic entities are interested in: owners and executive management of individual banks, regulators, customers and society as a whole. At the present stage of development, Russia's orientation is extremely important for cooperation with international financial and credit institutions, integration into the international banking community, which places strict requirements for size and, especially the quality of capital. The lack of capitalization level 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, she gained particular importance due to the conditions of the transition period, the inconsistency of the capitalization of the banking system of the economy as a whole, high risks of banking activity and weakness of management.

Objective information helps to appreciate the real financial position of the bank, predict its development and behavior in the market, take appropriate measures to build capital bases. Obviously, improving the reliability of each credit organization 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 allocates two aspects: analysis of own capital of credit institutions and capital of the entire banking system.

The solution of such a comprehensive task is impossible without understanding the economic essence of banking capital. Her disclosure was the subject scientific research for many years. The most famous concepts of capital, as a rule, are political economical. Bank capital is a type of capital, in our opinion, relatively independent economic category, not well studied in theoretical and practical terms.

The complexity, multidimensity and injectability of a number of issues related to banking capital, the discussion of the problem of its quantitative and qualitative assessment led to the need for scientific understanding and analysis of this phenomenon. The need for a systemic study of banking capital, both on the macro and on the micro levels predetermined the choice of theme, goal, objectives, structure and maintenance of the study.

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

Problems of entity, content and assessment of banking capital as one of its forms were reflected in the works of foreign researchers, such as P. Rose, J. Skyli, Hick J. R., 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. Olshen, A.M. Proskurina, A.Yu. Simanovsky et al.

In the study of the theory and practice of banking both domestic and foreign economists, the most attention is paid to banking capital on the micro level. Capital problems of the banking system have not yet received fairly full coverage in the economic literature.

Despite the large number of works devoted to the assessment of banking capital, special works are a bit and in them, as a rule, a single aspect of the problem is highlighted, most often - determination of capital adequacy, which does not provide an integrated approach to the analysis of this complex category. In addition, unresolved, controversial, requiring further development and private problems of the functioning of banking capital are preserved.

In particular, it requires further scientific research to disclose the content of the functioning of banking capital on the macro level. Analysis of the approaches established in the Russian economic literature devoted to the problem of banking capital makes it possible that it is often the assessment of banking capital comes down to the calculation of capital on the established methodology of the Bank of Russia, in connection with which there is a need for an integrated approach to evaluating and disclosing the essence of banking capital of different levels.

Thus, the relevance and insufficient development of the problem of the essence, content and assessment of banking capital, the discussion of the issues, their theoretical and practical significance determined the purpose and objective of the dissertation research.

The purpose and objectives of the study. The purpose of the dissertation work is a comprehensive analysis of banking capital and its impact on the sustainability of the banking system of Russia, the development of scientifically-based recommendations on improving the methods of its assessment.

Achieving the goal implies the solution of the following tasks:

Reveal the essence of banking capital and the mechanism of its implementation at different levels of the functioning of the banking system;

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

Explore the trends in the development of banking capital;

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

Develop an algorithm for assessing the quality of banking capital;

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

Evaluate the possibility of adapting overseas capital management experience russian conditions (When switching to IFRS and Basel II).

The object of the study is the bank capital of Russia.

The subject of research is the quantitative and qualitative characteristics of banking capital and methods for their assessment.

The theoretical basis of the study are the works of domestic and foreign economists who have considered the problems of functioning and evaluation of banking capital (O.N. Antipova, I.A. Blank, A.G. Gryaznova, S.I. Ignatiev, V.V. Kiselev, V. I. Kolesnikov, Koh Tu., O.I. Lavrushin, AB Molchanov, A.G. Movsesyan, S.A. Murchev, R.G. Olkhova, G.S. Panova, T.V. Paramonova, Rose Peter S., Sinky D.Ml., AB Eschkovsky, G.A. Tosunyan, A.D. Sheremet et al.), Legislative and instructive materials regulating the activities of commercial banks.

Methodological basis Studies are systemic, comparative and statistical analysis methods, vertical and horizontal analysis. As a toolkit, the methods of groupings, evaluations, comparisons and analogies were used.

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

The work is made in accordance with P.9.8. "Problems of ensuring the conjugation of monetary and banking macropolitics and micro-duty to the development of the banking system of the Russian Federation. A combination of active banking policies with the sustainability of the RF banking system and its development strategy. Expansion of the capital base of Russian monetary institutions and the direction of improving their role in the Russian economy, "and paragraph 9.15" Assessment of the Bank's capital base. Comparative assessment of domestic and foreign practice, path of development »Passport specialty 08.00.10" Finance, money circulation and credit ".

The scientific novelty of the study is to develop an algorithm for a high-quality and quantitative assessment of the banking capital of micro, meso and macro levels.

The most essential scientific results obtained by the applicant personally are as follows:

1. The concept of banking capital is specified on the basis of a multi-level approach to its analysis. The necessity along with the capital of a separate bank (micro level) to determine the capital of the Meso - and the macro level is justified. Capital of the Mesoirrow, which determines the ability of system-forming credit institutions, focusing most of the resources and assets of the banking system, to ensure funding for the priority directions of the development of the economy. At the macro level, the quantitative and qualitative certainty of the capital of individual banks and their groups is transformed into cumulative 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 in the economic literature, limiting it by the indicators of the adequacy and the ratio of structural elements (main and additional capital), the definition of quality as a set of properties characterizing the ability of capital to implement its basic functions, its real adequacy of the bank's activities and resistance to the conjunctional oscillations of the market.

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

4. Developed by an algorithm for assessing the quality of capital, including analysis: qualitative characteristics of capital assessment; factors affecting the change in the characteristics of capital assessment (external and internal); Changes in actual capital values \u200b\u200b- positive or negative dynamics of its indicators.

5. For the first time, the concept of "capital capital's capital adequacy", which characterizes the ability of aggregate capital of credit institutions to ensure: protection against 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 results of the study. The theoretical value of the thesis is to develop a new approach to the disclosure of the essence of banking capital and recommendations for improving its assessment.

Basic provisions and conclusions can be used by credit institutions in the preparation of methodological materials, in research and development and in the training process in the preparation of specialists in the field of banking, financial and bank management, and can also serve as a basis for further scientific research in the field of banking capital assessment. .

An independent value has a proposed algorithm for assessing the quality of banking capital, which allows to improve the methods of its assessment.

Testing and implementation of research results. Separate findings of the study reported at the meetings of the department, were 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, MMIIFP, 2005), where they received positive feedback.

The main provisions of the dissertation work were tested in the educational process of Moscow state University Economics, statistics and informatics and Moscow International Institute for Econometrics, Informatics, Finance and Law are used in the study of the Disciplines of the banking cycle, in the development of educational and methodological manuals.

In the introduction, the relevance of the problem under consideration is substantiated, the objective and objectives of the study are indicated, the object, the subject and methodology of the study are determined, and the scientific novelty of the work, its theoretical and practical significance is set out.

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

The second chapter discusses the methods of assessing banking capital, ways to increase its effectiveness.

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

Conclusion.

In accordance with the goal and tasks in the dissertation, three main groups of problems are also investigated.

The first group of problems is associated with the analysis of the methodology for the study of banking capital. identifying its entity and content.

The initial moment of study of this group of problems has become the identification and determination of the essence of capital as such.

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

As banking and the appearance of special theoretical studies A categorical apparatus began to form, in which the term "bank capital" gradually took a central place. As an object of self-scientific research, it was initially not allocated at all, since it was considered as a form of money capital.

Currently, when the problem of capitalization of the banking system has gained crucial importance for its development, the need for a comprehensive banking capital analysis arose as an independent economic category, which expresses the interests of a wide range of participants in economic relations, which is due to both its generic signs and specific functions of banks.

Bank capital is discussed in economic literature from different positions. Conceptually in the work allocated approaches presented in both Russian and Western economic literature. Based on their study, the work proposed a group of approaches to the definition of this concept: a quantitative interpretation and an essential approach to the definition of banking capital.

The constitutive sign of banking capital should be considered its ability to increase the cost, ensuring the formation of the bank's credit potential and its effective use on a returnable basis. At the same time, a system of relations of personalized economic entities (owners, management, customers, states, banks - correspondents, etc.)

Thesis noted that the quantitative approach is necessary and legitimate, but it does not contribute to ensuring sustainability, since it does not solve the problem of capital quality of the bank and capital of the banking system.

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

In most bank capital studies, we are talking about the capital of individual credit institutions. If the banking system is considered, then, first of all, attention is drawn to its overall insufficient capitalization and structural heterogeneity. As a rule, separate small, medium, large banks and relatively isolated banking groups, substantially differing in a number of features (concentration of capital, functional focus, financial stability, banking services market coverage, etc.). In this regard, the need to distinguish between analysis and assessment of banking capital on the areas of its manifestation is substantiated in the dissertation.

The author is justified by the need to assess bank capital not only at the level of a separate bank or the banking system as a whole, but also at a certain level of its functioning, designated in work as a meso-level.

At the micro level, capital expresses the interests of the owners of the bank and other actors of its activities through the mechanism for the implementation of capital functions.

At meso-level capital determines the ability of system-forming credit institutions, focusing most of the resources and assets of the banking system, to ensure the financing of priority areas for the development of the economy.

At the macro level, the quantitative and qualitative certainty of the capital of individual banks and their groups is transformed into cumulative 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 peculiarities and the degree of implementation by the banking capital of their funki.

The essence of the economic phenomenon is known to be implemented through its functions, which fully refers to banking capital.

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

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

The paper substantiates the need to distinguish the functions according to the degree of importance to the basic - protective, operational, pricing, and derivatives - registration, emission, regulating.

Basic functions are more connected with the realization of the interests of the bank owners. The functions of the capital of a separate credit institution can be implemented through its structural elementsTo which can be attributed: authorized capital, funds, profits.

Implementation efficiency ensures capital compliance with the regulatory requirements of supervisory authorities, the development strategy of the credit organization and the tasks of the growth of its market value.

Particular attention is paid to the pricing function due to exclusively the objectives of the owners and management of the Bank, which is not subject to regulation of regulatory authorities, and, unlike other functions, a little investigated in the scientific plan.

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

The completeness of the implementation of functions on the meso-level guarantees the stability of the banking system in the event of crisis situations, contributes to the acceleration of its capitalization, the introduction of modern technologies, the development of the market for innovative products and services.

The most complex problems (low bank capital, insufficient transparency of banks, disproportion in placement of banking capital in the country) and trends (concentration and centralization of capital, temporary strengthening the role of state banks, expansion and diversifying demand for banking services) of banking capital development). It was concluded that there are many problems and issues that emphasize the complexity of the modern stage of development of the Russian banking system, the size and quality of banking capital of which does not allow it to position it as a system of international class with great opportunities.

The problem of low capitalization is covered by the author in the system of general economic tendencies reflecting modern level Development of the economy. The dissertation notes that in recent years there is 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 provide a fundamental impact on the capitalization of the banking sector, since the amount of banking capital does not allow fully judging its qualitative component.

Disproportion in the placement of banking capital over the territory of the country over the past years does not actually change and is a source of high systemic risks in the functioning of the banking system, which is not so much competition in the banking services market, how many fragmentedness of the Russian economy, its weak internal integration, the concentration of bank capital is mainly In Moscow and other major centers.

The Bank of Russia consistently advocates the need to consolidate banks while reducing their quantity. In the past two years, the trend in the consolidation of the Russian banking business is traced, which will undoubtedly lead to the concentration and centralization of banking capital.

IN lately One of the possible ways to solve the problem of raising the level of capitalization is to combine several small banks in one major. Analysis of sources shows that in the Russian economy in the overwhelming majority of cases, the combination occurs by absorption. The unpopularity of mergers, as a combination method, is explained primarily by the lack of a regulatory framework that allows these procedures.

Insufficient transparency of banks is constrained by the processes of concentration and centralization of banking capital. The dissertation was investigated by the issue of capital from the point of view of the influence of this parameter to the stability and reliability, the possibility of increasing the capital base, both of the 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 - financial institutions is due to the characteristics of these structures: there are relatively cheap and long-term liabilities, significant banking capital, the possibility of attracting external resources, control the markets of the most attractive loans and financial instruments.

Expansion and diversification of demand for banking services requires sufficient banking capital. Due to the competent and weighted management policy, banks with minor, but qualitative in their structure capital, can be positioned in the banking services market as financially sustainable and fairly attractive to customers.

The paper made an emphasis on the need to create a sustainable resource base, first of all, due to the quantitative and qualitative characteristics of banking capital.

An analysis of the current problems and trends in the development of banking capital allowed to make a disappointing conclusion about the functional inefficiency of capital of all considered levels, which naturally requires the search for ways and ways to solve this problem.

The third group of problems includes issues of quantitative and high-quality bank capital.

The dissertations analyzed various Russian and foreign methodologies for assessing banking capital, the indicator of its adequacy, systematized the goals and objectives of the assessment depending on the requirements of the stakeholders, as well as its methods.

Strengthening competition in banking business, complication and expansion of banks conducted by banks provided by the services provided by the need to increase the importance of assessing banking capital and finding ways to improve its perfection as part of the institutions of the financial and credit sphere in the person of their owners, shareholders, management, and from third-party potential and real customers of banks.

The work proposed an approach to capital assessment based on a combination of its quantitative and qualitative assessment.

The Bank's capital assessment on the methods of regulatory authorities is covered by the example of the Bank of Russia and the provisions of the Basel Committee.

An analysis of the legislative framework in terms of assessing the amount of banking capital indicates the trend of the use of indicators aimed at assessing its qualitative characteristics. The introduced indicators and methodologies mainly implement international approaches to the assessment, and the changes occurring should be considered as positive trends in the development of the banking sector of the economy.

The work covered the main provisions of the Basel Agreement on Capital (Basel I, and), analyzed the requirements for capital adequacy, taking into account the amendments and adjustments.

Changes in the structure and nature of the risks of banking business were driving force to develop a new capital agreement -Basel I. Analysis of the new document demonstrates the updating of the methodology for calculating the risks of a commercial bank: new order calculation of credit risk, the introduction into the calculation of operational risk.

The provisions of Basel II are of fundamental importance to determine the capital of the banking system. Regulators need to pay more attention to the assessment of the system risks of the banking sector.

The study of foreign practices for determining the capital and its risk component for calculating the indicator of sufficiency allows us to conclude that Basel II contains a qualitatively higher level of assessment and calculating banking risks.

In addition, attention is focused on inclusion in the text of the document in addition to the "minimum capital requirements" of two new components: "Banking Supervision" and "Market Discipline".

When considering the basic provisions of foreign methods of regulatory authorities, positive and negative aspects of the transition of banks in IFRS and Basel II were allocated.

Thesis notes that international standards, despite their rigidity, will not make the work of banks more efficiently and more reliable, but they will contribute to increasing the reliability, transparency and information content of banking reporting and its adequacy of new accounting requirements.

The new requirements of the Basel Committee to Capital give reason to determine capital adequacy as a quantitative quality concept. In this sense, it is permissible to be considered as an element of quality assessment of capital.

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

The position of supporters of a differentiated approach to establishing a capital adequacy ratio is defended. If you judge the quality of banking capital only in terms of sufficient, it may be an incorrect idea of \u200b\u200bthe sustainability of the credit institution. It is necessary to take into account and evaluate the quality of capital and quality of assets.

The presence of a "sufficient" capital is not a strict indicator of the reliability of the bank and protect the interests of its depositors and creditors. The value of this indicator is of real meaning only with the system analysis of the Bank's activities, i.e. in conjunction with other analytical indicators. The supervisory and management bodies should be carefully weighed in assessing capital adequacy, the risk faced by the Bank, and are obliged to resort to more complex assessment methods based on the modern concept of risks. Compliance with this requirement will be evidence of the actual transition of the Bank of Russia from formalized to a meaningful approach in micro-regulation.

However, determining the sufficient capital value and maintaining it in the established limits is one of the main ways to manage capital, both by the regulatory bodies and the bank itself. Therefore, a constant analysis of the magnitude, structure and adequacy of capital is an indispensable condition for the modern management of the bank.

Currently, the quantitative characteristics of capital in the domestic banking system are far from international standards, therefore, the importance of sufficiently high demands for capital quality increases.

The work analyzed the transformation of the requirements of regulatory authorities to capital, which within the framework of the supervision is recognized as sufficient to cover the risks taken by the commercial bank. Particular attention is paid to the new paradigm of micro-regulation, which has been reflected in the new regulatory requirements of the Bank of Russia. Changes in the requirements are determined by the transfer of accent from the form for the content and practical orientation of regulation with the dominance of meaningful concepts and principles. Thus, new approaches make it possible to overcome the disadvantages of traditional in virtue of another orientation, which primarily concerns the qualitative assessment of banking capital.

The study is given to the determination of the quality of banking capital, disclosing, according to the dissertation, its economic essence.

The quality of banking capital is a set of properties characterizing the ability of capital to implement their basic functions, its real adequacy of the bank's activities and sustainability of the market fluctuations.

Developed an algorithm for assessing the quality of banking capital, including analysis: the qualitative characteristics of capital; factors affecting changes in the characteristics of capital assessment (external and internal); Changes of actual capital values \u200b\u200b(positive-negative dynamics of its indicators).

When evaluating the qualitative characteristics of capital, the author adheres to the methodology of its three levels. The indicator of the quality of banking capital is the completeness of the implementation of its basic functions (protective, operational, pricing) at different levels: micro level - ensures that capital compliance with the regulatory requirements of supervisory authorities, the strategies for the development of a credit institution and the tasks of the growth of its market value. Meso-level - guarantees the stability of the banking system in the event of crisis situations, contributes to the acceleration of its capitalization, the introduction of modern banking technologies, the development of the market for innovative products and services. Macro-level - characterizes the reliability of the banking system, its compliance with international banking standards.

In order to clarify the conceptual apparatus assessment of banking capital in the work, the feasibility of introducing the term "adequacy of capital of the banking system" into the scientific circulation is substantiated and its author's interpretation has been proposed.

The adequacy of the capital of the banking system is a generalizing indicator of systemic stability, which characterizes the ability of total capital of credit institutions to ensure: protection against systemic risks; investment attractiveness and competitiveness of the banking system; compliance with international banking standards; The needs of the economy in credit resources.

The magnitude of the banking system should be sufficient to ensure the confidence of society that the banking system is able to satisfy its current and promising needs and compensate for losses with unfavorable emerging conditions for the country's economic development.

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

TO external factors include: the overall state of the economy and the credit and financial sector; Regulatory and legal framework for the formation of banking capital and supervisory activities of the Bank of Russia; competitiveness of the banking system; state tax policy; public policy Regarding the development of regional banks, etc.

Internal factors affecting the change in capital assessment characteristics include: the transparency of the ownership structure; sources of formation of a resource base; Corporate governance quality.

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

As part of the study, the problem of valuation of equity capital is considered, based on the currently qualitative definiteness of banking capital and the classification of its pricing function into the category.

The thesis includes a review of the value known in the modern theory and practice and the vast practical significance of the market value of the credit institution, its capital is shown.

According to the results of the study of the approaches existing in the banking theory and practice, the approaches for assessing the market value of capital have been revealed that at present the cost of own capital of the bank in most cases is calculated using income and costly methods. A comparative approach has been widely used in assessing its own capital of industrial companies.

Especially allocated currently currently, the so-called "fair value". It was argued that the definition of fair value is fully applicable to banking capital. However, there are a number of reasons that impede objective judgments about such a value, in particular due to the insufficient information field of the data, non-transparency of the Bank's activities, nestability of the source data, etc.

Theoretical conclusions and practical conclusions in the work allows you to improve management as a certain extent, both the capital of the credit institution and the capital of the banking system as a whole.

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