Банковская система в переходный период

РОССИЙСКАЯ ФЕДЕРАЦИЯ

Банковская система в переходный период

Документ Всемирного банка Информационный центр в России

финансы и инвестиции

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Department Publications cie,AyeT o6pauaTLCS no aApecy Distribution Unit, Office of the Publisher, aApecy no HHH U.S.A. 20433, D.C. F, The World Bank, 1818 Street, N.W., Washington, Publications, The World Bank,, 66, avenue d'Idna, 75116 Paris, France.

ISSN: 0253-2123 Library of Congress Cataloging-in-Publication Data

Lamdany, Ruben, 1954Russia: the banking system during transition. p. cm. - (A World Bank country study) "This report was prepared by Ruben Lamdany and it is based on the work of two World Bank missions."

ISBN 0-8213-2754-2 1. Banks and banking-Russia (Federation) 2. Finance-Russia (Federation) 3. Post-communism-Russia (Federation) I. International Bank for Reconstruction and Development.

II. Title. III. Series.

1993 HG3130.2.A6L35 332.1'0947-dc2O

93-44834

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xii.

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IBHTCS rjiaBHEJM orpaHHqeHHem AJI paCIiHpeHHA ceKTopa BMC, IlOCKOJIbKY MHorHe 6aHYuH, no-BHsHMoMy, He CMOryT HJIH He 3aXOTIT COKpaTHTb KpeHMTOBaHHe CBOHX aKUHOHepOB. C JpyroH CTOpOHbl, 3aKPbITHe H xiv.

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ix

XV.

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ARA

dHHaHCHDOBaHHM ceJIbCKoro X03MHCTBa. qpe3BblqaHHO BaXKHO AJS pOCCHHCKOil 9KOHOMHKH. POCCHIACKHe BJIaCTI HICnOJIb3yIOT cy6cixHxHpyeMie geneByie KpeAHTLI ARA o6ecneqeHHA AOCTyna K KpegHTaM, KOMneHcaIIHH 1CKa)KeHHf, Cy6CHqHpOBaHHS ceJIbCKoro XO3AfICTBa, a TaKwoe USI 4HHaHcHpOBaHHA UieHTpaJIH3OBaHHbIX rOCygapCTBeHH]IX 3aKynOK H peaJIH3aiUiH CeJIbCKOX03MfCTBeHHOfk npOAyKzHH. riiaBHbIM CqaKTOpOM, OCJIO)KHAIOUM rO6bie IoIbiTKH COKpaTHTb yqacTiIe IIpaB4TeJIICTBa B 4MHHaHCHPOBaHHH cen^CKoro XO3Af4CTBa, 5IBjiAeTCA TOT aKTTO ToepMepbi nO-HpeXKHeMy He MOryT iCIIOJib3OBaTh CBOO 3eMJIIO B KatIeCTBe 3ajiora gaA o6ecneqeHHA KpegHTa. xvi.

B 6JIiKafInieH repcneKTHBe nporpaMMbI rOCygapCTBeHHbIX KpegHTOB AOJDKHbI HpOgOjKaTECs, OHH 6yAyTriO-npeX)HeMy CJIYXKHTB OCHOBOH 4)HHaHCHpOBaHHA ceJIbCKOrO X03AHCTBa, XOTS HeO6xo;RHMO BHeCTH p5iX Ba)KHbIX H3MeHeHHH B npOrpaMMbl,

cyLigeCTByiOuIme B HaCTOAIgee BpeMA. rIpexocTaBneHHe geneBbIX KpeAHTOB AOJDKHO 6bIrrb orpaHHqeHO CeJIbCKHM X03AHCTBOM H AeSTeJIbHOCTbIO HO flepepa6oTKe ceJIbCKOX03XMIcTBeHHOH npOXYKUH HenocpegrBeHHO B X03AICTBax. rlpeXnpH31THA B KPYHHOM arpOnpOMbIHIIIeHHOM ceKTOpe AOJIXCHBI OCyiUeCTBJIATb 4MHHaHCHPOBaHHe CBOeH gXeiTeZJIHOCTH qepe3 KOMMepteCKHe 6aHKH, KaK 3TO genaioT xpyrHe npegnpHATm. Kpe;i6i, xa)Ke jibrOTHbIe, AOJDKH16H ripeOCTaBJIMTbCSA Ha 'eTKO onpegeiieHHbI1X yCJIOBHAX. HIpaBHTeJThCTBO AOJIKHO o6ecneqHBaTb cO66nmoeHHe 3THX YCJIOBHfI KaK cpegcTBa 4JHHaHCOBOH AHCLUHIJIHHbI B gaHHOM ceKTope. )KeIiaTeJThHO, 'qTO6bI IleHTpajibHLIf 6aHK noAXHiJI rpOueHTbI no ceJIECKOXO3AHCTBeHHbIM KPeXHTaM go YPOBHA, yKpenIieHHS

cyLuecTByIougero B xapyrHx OTpaCJIAX 3KOHOMHKH. Cy6cHgHH 6yyryT 6onee qdXI2eKTHBHbIMH H 6y,y'T CTOHTb geiiieBJIe, eCJIH OHH 6YXYT HenOCPeACTBeHHO CBA3aH6I C 3a4aIaMH rocygapcTBa B CenjbCKOM xO35IHCTBe. xvii.

B cpeXgHeCPOtIHOft nepCneKTHBe HeO6XOXAHMOCTb 4JHHaHCHPOBaHHSA ceIbcKOXo3AIHcTBeHHbIx3aKynOKtepe3nporpammbi3e eHanpaB eHHororocyXaapcTBeHHoro Kpe,HTOBaHHSI 6yAeT COKpaLaTbCA, no mepe TOrO KaK qaCTHbIe PO3HHtIHbIe H OnTOBLIe PbIHKH 6 YxYT BE,ITeCHSTh LueHTPaIH3OBaHHYIO CHCTeMY 3arOTOBOK H PeanaH3gIHH. rlpegocTaBneHHe taCTHLIM (cepMepaM teTKHX npaB Ha 3eMJIO, KOTOpmIe nO3BOjiSjIH 6E1I HM 3aKflagbIBaTb 3eMJIIO, H npegoCTaBj1eHHe 6aHKaM npaBa JIHIIaTb cpepMepOB B03MO)KHOCTH BMIKYnaTTb 3ano)KeHHOe HMYWeCTBO B cjiytae HeBEMHOJIHeHHA yCJIOBHf o6Al3aTenEbcTB no

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xviii.

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xx.

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xxi.

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6

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tITO CnO)KHO npOBOAHTb

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1992 r.

HOJIHTHKy,

IIOCKOJTbKY 9TO MOxceT rIPHBeCTH K HerpeAHaMepeHHbIM pe3yJTbTaTaM, HarIpHMep, K HaKOnIIeHHIO B3aHMHOf4 3aAojDKeHHOCTH ripeAinpHqTHH. 3TO

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7 HCKa)KeHHe B MexaHH3Me nepeAaqH o6LSicHAeTcS, riiaBHbIM o6pa3oM, 3a,aTOsHbIM COCTOSHHeM (pHHaHCOBOfk CHCTeMB, a TaKxoe OCo6eHHOCTSxMH crpyKTypBI co6cTBeHHocm npexnpK3tTHKI.

B nOpAAgKe o6o6meHllM MO)KHO CKa3aTb, WTO peC)OPMbI B 6aHKOBCKOM CeKTOpe AOJIXCHbI CTaTb qacTbio o6ige9KoHoMHqeCKof CTpaTerHH B MacuiTa6aX BceH CTpaHBI c uexnbio YCOBepiueHCTBOBaHHA pa3MeiueHm pecypcoB. TaKaA cTpaTerHA AO3xHa BKJIIOqaTb paAHoHajiH3aiWio rocyCapCTBeHHbIX CY6CHAHf H ApyrHX TpaHc4JepTOB, oco6eHHO B ceKTope nIpexnpEisIM. IflomHMo COKpfemHi o6igero o6beMa TpaHc4)epTOB, IIpaBHTeJIBCTBO onxcHo o6ecreqWM HHCTPyMeHT HX nepexatH, KOTOpBI61 He OKa3BIBaji 6b BJHAHHA Ha CHCTMey geH H He CTHpaIi pa3rpaHHteHHA Me,CKy 3aMaMmH H 6e3Bo3Me3xfHoH riOMOUThIO. PeajrH3yeMas B HacToAmee BpeMS rporpamma rIpHBaTH3aUHH, KOTOPa5 riomoraeT teTKO onpeAejiHm rpaBa co6CTBeHHbocTH, AORKHa nocTeneHHO paCUpIHPTbCX C TeM, qTro6bI OXBaTHTb HOBI6e OTpaCJIH, HanpHMep, CeJIbCKOe X03AACTBO H KpyrIHbIe rocygapCTBeHHbie IpernpHTHA. IIpaBHTeJTBCTBO TaK)Kxce ORHO C03XaTb COOTBeTCTBY1OUIHe

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8

OrIHCAHHE POCCHRCKOR BAHKOBCKOfR CHCEMb: COBPEMEHHOE COCTOSAHHE

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AeHexHo-Kpe,aHTHas IoJI0THKa UeHTpaJIbHoro 6aHKa Poccin

6aHK nPoBo0HT yqeTHy)o riomnTKy, KoTOPaS TeopeTwiecKH LeHTpajibHM6 IIo3BOnJ1eT 6aHKam 6paTm B3aAMbm CpeACTBa Ha onpegeeHH6EIX yCJIOBH3X. YqeTHas CTaBKa KpeAHToB UeHTpa&rHoro 6aHKa KOmmepYecKmm 6aHKaM B HIOHe 1992 r. 6LTIa nOBbMIeHa c 40 Ao 80 npoijeHToB, a B MapTe 1993 r. Ao 100 npoileHTOB. B yCJIOBsX HH4)JISW, cocrawmoMefi 6onee 1000 nIpoLeHToB, Hemm3S oxcHaTb, 1TO yieTHas cTaBKa B pa3Mepe 80-100 IIpOixeHTOB Mo)KeT IIPHBeCTH K pawioHHpoBaHH1O B HC11H0J3OBaiHH pecypcoB. Ha ilpaKTHIKe y-IeTHas no1JHHKa HCn1JTb3YeTCA riOTH HCKJUoqHTeJTbHO B KaqeCTBe KaHana peaRMarH nlporpaMMbI pacripexejieHAs iAeHTpaMU3OBaHHLIX KpeARToB.

3.2

B 1992 r. 1jeHTpaRLHmrIA 6aHK BbiIaTHj OKOjiO 2,8 TPH3IJ¶HOHa py6nek B BHAe iAeHTpaAH3OBaHHbIx iejieBLIx KpeAHToB, ITO cocTaBno 60Onee 95 npo0LeHTOB o6uwero o6feMa KpegHTOB, ripexocTaBneHHbIx KoMMmepYeCKHM 6aHKaM, H 6onee IIOJIOBHHbI BceH

3.3

B paMKax 9THX ripOrpaMM 3aeMUlHKH UeHTpaJTHHbIM 6aHKoM C nIpaBrTemTrCTBOM, KpeAIHTOBaHHSI o6romapHBanm o6seM H yCJIoBHA H MecTHbIMH BnacTIMm. B iXenoM 6aHKu urpainu HcKJuO'TejbHo rIacCHBHY0 poJM 1POBOAHHKa 4HHaHCoBBIx pecypCoB. Ta6mnxa 3.1 OMKa3bIBaeT, qTo no0IqT Bce 4)HHaHCOBbIe pecypcwI 6bIH npeAocraBneHbI B paMKaX qeTmipex riporpaMM: ceJIbcKoe X03SdUCTB0 (46 (18 npogeHTOB), TonJIHBHo-3HepreTH'ecKCfK 1ipo0LeHTOB), IIpoMb11ljieHHbIe npeAnpHrrHs 6 ceKTop (14 IpoijeHToB) HI TeppHTOPHI KpakHero ceBepa ( 1 nIpogeHToB) . H porpamma AiLA cenBcKoro X03AACTBa 6uIna HanpaBjeHa Ha BHU>I gereJIHOCTH, B CaMOM IHPOKOM CMbICne CBI3aHHbie C CeJThCKHM X03SACTBOM, H BKJIO'lana ieJmlIk Ha6op HHCTpyMeHTOB OT 3aOiMOB, npeXocTaBneHHBIx KpeAHTOB 4)epMepaM H 3arOTOBHTejiBHbIM opramH3aiuM AeHeXKHO

4.

Crossing

MKCnIaHCHH 3a yKa3aHHIA riepRoA.

OIICaHHe 3BOJIIOLWH 6aHK0BCK0A CHCTeMbi c 1987 r. nlpHBOATCI B: Russian Economic Reform: the Threshold of Structural Change, BceMHpHpni 6aHK, 1992 r, cTp. 106, BCTaBKa 7-1.

araKTOpbI, OKa3MIBaioUxHe BJNHSHHe Ha daHKOBCKYIO CHCTeMy, flOAO6HO paCCMOTpeHbI B F X,pyre rnaBe 4. OpraHK3aAKu H CDyHKIHOHHpOBaHKe IOHTpaJmbHOro 6aHKa, OrIHCaHLI B pSAe AOKJaaOB, HeAaBHO BbIflyUqeHHbix MexcAyHapoAHbim BanIOTHbYM C4OHAOM. 5.

6.

AaHHbLi pa3.en OcHoBaH Ha H3AaHHH "Explicit and Implicit Subsidies and Financial Transfers

to Enertprises: a Strategy for Downsizing and Reform", MexyHapoAHbIM BIioTHLiM 4COHAOM B MapTe 1993 r.

BbmlyueHHoM

BceMHpHBIM 6aHKoM H

9

arpapHoW npoMbHnjIeHHocTH H TpaKTOpHbIM 3aBogaM. HIOKBapTanbHoe npegocTasneHHe peCypCOB B PaMKaX 9THX T1pOrpaMM B 1992 r. cocTaBHJIo npH6JI13HTenTHO 100,200, 700 H 1 800 MHjijmapXoB py6neA7 . 3TH }1H pbI CO BCef oqeBHAHOCThio nOKa3bIBaioT, ro lpOrpaMMBI geiieBorO KpeXHTOBaHHA ABJIS3HCB OCHOBHbIM HHCTpyMeHTOM HOMITHKH B 1992 r.

geHexHOA

3.4

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Ta6nrHna 3.1 rIporpaMMII6ieneBoro KpegHToBaHHs, 1992

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10

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01/01/92

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129

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106

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12 Ta6JrHLia 3.3 llBaniaTm KIDVHefIIHX 6aHKOB POCCHH (Ha 1 SHBapS 1993 r., B MHjiflHap,ax py6nieft) ropOg

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13

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3.11

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14

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3.13

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3.16

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Tax H

6aHKOBCKoro CeKTOpa. CM. World Bank report No. 7869-YU, Yugoslavia - Financial Sector Restructuring: Policies and Priorities, 1989.

15

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3.17

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16

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rIPSMO HJIH KOCBeHHO, KOMneHcaNHOHHbIe 6anaHcoBbLe Tpe6oBaHHJ H npegonnaTy ycWyr. B HbIHeIfUHHX YCJIOBHX 6aHKH AxOJKHbM yCTaHaBJIHBaT]6 mapxcy no npoieHTHbim CTaBKaM Ha ypoBHe He MeHee 40 HpoIgeHToB B roA -rro6bi npocrO He nOHecm y6brrlm xaxKe B cjiyiae OTHOCHTeji6HO Ha)eXKHLIX KpeAHTOB. HanpHMep, AiA KpeAUTa CpOKOM Ha OAHH roA Heo6xoAHMo yCTaHOBHT KaK MHHHMYM 15-npogeHTHylo mapxcy 'To6bi COXpaHHT

peaJnEHy1O CTOHMOCTb KanHTaJTa 6aHKa. 9To BePHO B CnyqaMx, KorAa 1 npoixeHT Kpexffa 4HHaHCHpyeTC31 H3 co6cTBeHHbIX cpeACTB, ecai oxKHaeMaz HH(RSIMA cocTaBnsAeT OKOnO 1500 npogeHToB B Te'eHHe Bcero cpoKa KpeAHTOBaHHA H ecnm npogxeHmi BbIn3IamaHBaIoTCA

O,HOBpeMeHHO C noraueHi4em OCHOBHOu CyMMbI Kpe,HTa. KpoMe 3Toro, 6aHiM AOnicM Tpe6oBaTb BbInnaTbI 6onee teM 25 npOgeHTOB AJI KOMneHCai.H H3RepxKeK B CBI3H C Heo6XoAHMoCTbiO noAepxaHHA pe3epBHbIX Tpe6OBaHH Ha YPOBHe 20 npoIXeHToB, nlpH TOM xITO Ha peepBHbIe cpeACTBa npoieHTbI He HaqHcUOTCS. Mapxa AOnIKHa TaK)Ke KOMIneHCHpOBaTh 6aHKaM onepaguOHHbIe H3AepxKH H KpeA;THIie pHCKH. TaKxm o6pa3OM, mapxca B pa3mepe OKOjIO 50 npolyeHTOB no KpeAHTaM C HH3KHM YPOBHeM pHcKa He TOJTKO

He ABImeTCs,

KaK yTBepXKAaIoT HeKOTOpLIe, xipe3MepHO BbICOKOU, a Hao6opoT, MoxKeT

C'HTaThCS OTHOCHTenbHO HH3KOU.

H13 Ta6lHiXibI 3.3 MOX(HO yBHAeTb, qTO TeMIrhI pOCTa aKTHBOB H CCYA 3HawHTeJTlHO 3.21 pa3flHtiaIHcb no 20 KpynHerLuHM 6aHKaM. AKTHBbI 6aHKOB, 3a HcKmUO'eHHeM ABYX H3 HHX, pocJIH 6bIcTpee tem o6feMbI ccyA, npeAocTaBJiseeMbIx Mm. HHTepecHo OTMeTHm, wrO HaH6oJIee 6MbCTpbIU POCT aKTHBOB Ha6mfoajiCA B TeX 6aHKax, KOTOpbIe HMeIH HH3KMA Ko0cfrjEHimeHT oTHoiueHHH CCyA K aKTHBaM. B 6oJM0MHCTBe ciyqaea 9TOT HH3KHA Koq4)(DHLIeHT CBI3aH C BeAeHHeM

6aHKoM BaJIIoTHLIbx cqeTOB, CTOHMOCTb KOTOpbIX B

py6neeoM BbIpaKeHHH yBeJIH'HjiacCb BCjieACTBHe o6ecgeHHBaHEA py6JIS. 3Ta B3aHMoCBAS3b oco6eHHo oteBHAHa Ha IpiMmepe TOKO6aHKa, KpeAo6aHKa H 14HKoM6aHKa, KOTOpLIe, KaK H3BecTHo, BeAYT KPYnHbIe orIepaLHH C HHOCTpEHHOA BamoToH. HeyAIBWMeJBHo, 'TO CYMMbl

Henorauemwix ccy, pOCJIH ropa3,o 6LIcTpee B TeX 6aHKax, KOTOpme CyIKHjIH KaHanaMH

pacnpeAeneHHA cpeAcTBrno nporpammam rleneBoro KpeAfHTOBaHHA: 9TOT pOCT COCTaBHJI 6onee 7 000 npoUeHTOB B 9neKTpo6aHKe H 6onee 1 000 npoixeHToB B Poccen6xo36aHKe H rIpoMcTpoH6aHKe.

17

3.22

ESOJILMHHCTBO 6aHKOB BJIOXHJIH qaCTb CBOHX aKTHBOB B HeBHxKHMocTb, aKEH

npeAInpHIsHTNN H Aaxce B C03gaHHe BayqepHaix HHBeCTHLWOHHMIX (DOHJOB. MHorHe 6aHKH

HCnJOJT,b3ylT 43HHaHCOBbIH ZieBepaxK AJ HHBecTHIrH, 4DHHaHCHpyZ HX H3 CpegCTB npH IOBepxHoCTHOM B3rnAIe Ha 6aa1aHcoBLIe oTqeTbI MHOriX 6aHKOB MO)KeT C03gaThCM BrieqaTjTeHHe, wTO 06%beMbi 9THX HHBeCTHIHfk riOKa eiixe o'eHb mami H COCTaBJALTOT OKOJIO 1 npoileHTa Bcex aKTHBOB, OAHaKO STH UH4)p6 MOryT OKa3aTbcA o6MaHtqHBBIMH H3-3a o6ujHX 6yXraJITepcKHx IIpo6nieM B 7epHOAM BbICOKONk HHC1RHISH. AenO3HTOB.

3.23

(Di)HaHcHpOBaHHe KaIIHTaJIOBJIoxeHHA H3 cpeArCT AenIO3HTOB AIBJiSeTCA oqeHb

pHCKOBaHHOH

IIpaKTHKOH H, KaK iipaBHJIO, He pa3peiiiaeTCsi

B ApyrHx cTpaHax. B

6ojmmHHcTBe pa3BHThIX CTpaH TaKHe RHBeCTHLM AoJxcHI nOjiHOCTIO 4)HHaHCHpOBaTCSA H3 CO6CTBeHHBIX cpeAcTB. B CBI3H C 9THM B03HHKaeT BOnpOC: AOJDKHa 3m 6aHKOBCKaq

CHICTeMa PoccHH 6bITm CMOAe3iHpOBaHa KaK yHHBepcanibHas, no npHmepy FepMaHH4, HJI ee HyJKHo pa3genNHTb Ha ABe acTH - CHCTeMy KOMMeptieCKHX H CHcTeMy HHBecTHNHoHHbIx 6aHKOB, KaK B COeAHHeHHIIX HTaTaX. rpe3ox)KeHHA no STOMY BOIIpOCy paCCMaTPHBaEOTCA B pa3Aene UIraBbI 5, rOCBsUeHHOM Bonpocam perynHpOBaHHI.

3.24

IloqeMy xe cTaBKH HO geno3HTaM H KpeAHTaM B peaBjTHOM BbIpaxceHH HMeEOT BbICOKoe oTpHuaTeSIbHoe 3HaqeHHe, ecniH 6aHKH MOryT CBO60AHO HX nOBLbmaTb? HHepIs - HH43JIsOHHMe OxcHAamS, OTCTaEOuHe OT peaBjHLIX TeMnOB mHHJIJ, 'qTO O3HaqaeT, w*o npoieHTHbIe CTaBKH, ycTaHaBnHBaeMbie 3apaHee, IIpH oaRTHeeCKoR Oi.eHKe OKa3]IBaXOTCAI HHxe ypOBHA[ HH43JIIHH -- H AeHeKHexbIe m o3HH (HenpaBHInLHas oUeHKa peaJbHOi CTOHMOCTH AeHer), T.e. ABJIeHHe, KorAa HeKOTOpLIe OixeHHBaEOT HOMHHaJTHY1O CTaBKY KaK oqeHb BBICOKYIO, He COOTHOC5[ ee C YPOBHeM HH4)MIIUIH - IBJEISOTCS YaCTH'1HbIM OTBeTOM Ha 9TOT BOnIpOC. Cyuyec¶ByeT eI.e p51 IIpHNHH, ro KOTOpbIM HH3KHe YIpOIeHTHbIe CTaBKH KaJKYTCM, B KaKOM-TO cMbIcJie, pbIHOtIHbIMH KJIHPHHrOBbImH CTaBKaMH. Bo-nepB6IX, CIpOC Ha KpeAHThI orpaHiqeH TeM, iTO HeMHOrie 3aeMu4KH MOryT rIpeAoCTaBHTb 3aJIoroBoe o6ecrieYeHHe HIiH HbIe rapaHTHH, KOTOpbIX Tpe6yiOT 6aHKN B CBSI3H C Mo6HJTH3aLHef Kpe,HTHbIX CpeACTB Ha pbIHKe, rqTOAeZaeT CHTyaHiuo C geHTpanN30BaHHbIMH KpeAHTaMH H KpeAHTaMH CBOHM aKxNOHepam COBepmeHHo UpOTHBOnOJIO)KHOfi. Bo-BTopbIx, ecnH 6aHKH nOBbIUaJOT npOlyeHTHbIe CTaBKH nO AeHO3HTaM, OHH AOJIHblI OAHOBpeMeHHO H no KpaiNHeii mepe IIPOIIOPLNOHaJHO yBenHmqwn CBOIO MapxKy. 9TO OTnyrHeT Yacm%HX ny'mx KJTeHTOB, OCTaBHB 6o0iee pHCKOBaHHbIe CCyxI>. HaKoHeil, 60oamrmHCTBO KOMnaHHf H 6aHKOB npeAno'ifTaioT HaripaBMLqT CBOH cpegcTBa H 9HeprNHO Ha io66HpoBaHHe IIpaBHTeJIbCTBa H ILeHTpanbHoro 6aHKa B ixeniix riojiy'eHsI AeiiieBbIX ienesBIx KpeAWTOB BMeCTo KOHKypeHUHH Ha OTKpbITOM pbIHKe 3a IIpHBJIe'eHHe 4NHaHCOBbIX KipeAHTHLIX cpeCTB. I1PHHUHU KIIaCCH4)HKaUSA

KommepqecKix 6aHKOB Poccim

3.25

B COOTBeTCTBHH C npeAraraembrm rpHHwrOM, 6aHKH noApas3enJLOTcS no ux OCHOBHbIM BDHIaM nesTejibHocTH. C y'eTOM Apyrx KpHTepHeB, HanpHMep,

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18 onpeAejmeM]IX HHKe KaTerOpHM, H CO BPeMeHeM MOFYT MeHsTb xapaKTep CBOeiK OCHOBHOR HanpHMep, K3 "6aHKa-KaHana" mm "6aHKa-areHTa" 6aHK MOx(eT gesITejTbHOCTi. Mepe TOrO, KaK Iio 6aHK" xOpOmHfi AHBepcH,HIgHpyeTCs3 cocTaB ero aKlWOHepOB H ycjioxceTC xapaicep ero ynpafBeHHL nipeBPamm6CA

3.26

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qeM APYrHMH 6aHKaMH. B CTpaHax C pbIHOqHOfI 9KOHOMHKON (DHHaHCOBbIe OTAeJTh THNi OCyIgeCTBJIAIOT MHOrHe H3 ycjiyr, KOTOpbIe B HaCTOAIIXee BpeMA B PoccHH HpeAnpJII 3aKpeHJLIiOTCS 3a 6aHKaMH-areHTaMH. Hx aKuKOHepmI, BKna3AHKH H 3aeMMHKH--3aYaCTyMO OAHH H Te )Ke IiHia, WTO B MeHbLiei mepe xapaKTepHO AIn 6aHKOB ApyrHx THNIOB. KpoMe Toro, ileJiH ynpaBJIAIOIIHX H aKUHOHepOB B 6aHKax 9TOrO THna TeCHO B3aHMOCBI3aHbI. B HaCTOAXIiee BpeMX 60JILbIHHCTBO pOCCHKCKHX 6aHKOB BbirOMIASOT tacTHqHo pojm 6aHKoB-

areHTOB, XOT51 6aHKH, BbIIOjiHAiouHe HCKnIOqirTeJThHO pOnib areHTOB, KaK rIpaBHJO, OqeHL MaIibI no pa3Mepy.

"3apo=aiowUecs "XOPOIffHe" 6amH". B POCCmH yxce cefWac cyIeCTByeT rpyrma 3.29 20-30 BeAyIUIHX KOMMepqeCKHX 6aHKOB, pa3BHBaiOIAHXCA B "IIpaBHJTbHOM" HaIIpaBjieHHH H, iio BceH BH=HMOCTH, npeBpaWaIoIHxCs B HaCTOSiie 6aHKOBCKIFe ytpeXAeHHs. TI4HCIO TaKHx 6aHKOB pacTeT no mepe TOrO, KaK peOpraHH3yIOTCA 6aHKH, OTHOCAuHeCSA K ApyrHm

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3.30

OAHHM H3 OCHOBHbIX

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OKynaioT

19

aKIUHH; TaKIHe 6aHKIH, KaK ipaBHJIO, pa3BHBaEOTCS 6bIcTpee. Euye OAHHM 4aKTopoM. CTHMyJIHpytOiuHM pa3BHTHe "xopoiniero" 6aHKa, IBJIAIOTCA CBSI3H C 3apy6excHBIMH 6aHKaMH wepe3 BHeIIHeTOproBbIe onIepanHH, ynpaBneHHe CqeTaMH B HHOCTpaHHOfI BamoTe mm Iepe3 rPSiMbIe HHBecTHiHH. 9TOT ripoLecc HAeT 6bICTpbIMH TeMfiaMH B pgge 6aHKOB MOCKBbI H CaHKT-rleTep6ypra.

3.31

PYKOBOAJCTBO 6aHKOB 3TOH rpyniibi OTHOCHTeJbHO He3aBHCHMO OT npeinpHArTHaKUHOHepoB, H, KaK npasBHjo, o6iaXAaeT 6o0iee BbICOKOH KBaH4HKagHeA, qem PYKOBOAHTeJiH 6aHKoB-KaHanoB. YKa3aHHLIe 6aHKH rpeAoCTaBJIAIOT KpeHI CBOHM KJiHeHTaM H aK[HOHepaM, TOJIbKO 6y,gytH yBepeHHbIMH B HX ioraIIIeHMH; CPOKH 3aHMOB, KaK npaBHjio, B MeHbIIIei CTeneHHH eM B gApyrHx 6aHKaX 3aBHCqT OT TOrO, SBJISeTCS 3aeMTEIHK JIH aKuHOHepOM 6aHKa. iOJIbIIIHHCTBO 3aHMoBB, rpeAOCTaBJIAeMbIX 3THMH 6aHKaMH, o6ecne'{HBaIoTcS 3anoraMH, rapaHTHeH TpeTbHX JiHI HJIH cTpaxyeTCs. 3HaqHTeJIbHaA xTaCTb KpegHTOB HanpaBJIgeTCA qaCTHMIM KOMMepqeCKHM CTpyKTypaM H aKuHOHepHbIM KOMnaHHAM, KOTOpbIe fuH6o y)Ke SABJIOTCA 'aCTHbiMH npeAripHATHKMH, JIH60 HaXO,ITCAI B npoiecce ITpHBaTH3auHH.

3.32

Pg "XOpOIIHX" 6aHKOB OCyigeCTBJISeT onepaIL1HH C KpeAHTHbIMH KapToqKamH H HMeeT AOCTyII K BaJI1OTHbIM onepauHAm qepe3 ceTb CBWDT. BOJIbmHHCTBO H3 HHX HMeEOT KOppeCIOHAeHTcKHe OTHOLCeHHA C HpeCTHKHbIMH 3apy6eXCHE IMR 6aHKaMH. HeKoTopbie yMCe ABJIBSOTCS IIapTHepaMH 3apy6exKHbIX 6aHKOB, a eule 6ombinee 'mcno 6aHKOB CTpeMHTCA1 K 9TOMy. MHorHe 6aHKH CO3AanH accoImayum, B KOTOpbIe BXOAST HeCKOJIbKO yqpexKIeHH1I, COBMeCTHO BLICTyIIEOTNHX B HX onepaiHsx. Co BpeMeHeM H fpH

YCJIOBHH HaJIHAHS npOAyMaHHbrX CTHMYJIOB B TaKHX accoiyzagMAx MOryT HMeTb CJIHASH4A, qTO rIpeBpaTIT HX B enye 6onee KpYIIHbIe 6aHKH.

MecTo

TpH KpynHeIiiix cneUWanH3HPOBsaHHbIx 6aHKca 3.33

TpemsI KpyflHefIIHMH ciiegHanH36pOBaHHbIMH 6aHKaMH ABJIAIOTCA C6ep6aHK (c6eperaTenbHbhI 6aHK), PocceirbXO36aHK (CeJIm6CKOXO3A4CTBeHHbii 6aHK) H

*IPOMCTpOH6aHK (npoMbTiuIneHHo-CTpOHTenbHbIi 6aHK). B HX Ha3BaHHAX OTpaxKeHa HX cneUJHaJIH3aIUHAs B YCJIOBHIX 6bIBIIero COBeTCKOrO CTpOA. B HacToAruee BpeMS 9TH TPH 6aHKa

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B CHJIY HX CpaBHHTeJIbHHMIX 11peHMyIeCTB B iinaHe KBaJiH4N KaixHH H HHCIpaCTpyKTypbI, a TaKX(e BcJIegCTBHe Toro, qTO OHH npogojDKaiOT BbICTyIaTb KaK HHCTpymeHTbI rOCyAapCTBeHHOH IIOJIHTHKH B COOTBeTCTBYIOIUHX OTpaCJIAX H BHaaX AeMTeJIBHOCTH.

3.34

Hcxe paccMaTpHBalOTCs CTPYKTypa H OCHOBHbIe BHAgb1 AeSiTeJIbHOCTH KaxcAoro H3 9THX 6aHKoB; OHH TaK)Ke OTpa8eHbI B o6iueM BHAe B Ta6JrnHie 3.5. PeKOMeHgaiNHH AoKiiaAa B OTHOiiieHHH C6ep6aHKa H flpOMCTpof6aHKa H3JIO)KeHbI B L'naBe 4, a B OTHOLIeHHH PocceJnbXO36aHKa -- B pa3gene rJIaBI 6, IIOCBAigeHHOM KpeAHTOBaHHIO ceJThcKoro XO3AIfiCTBa.

20 C6ep6aHK. C6ep6aHK ABJIAeTCM HaH6oJIee AHHaMHtqHbIM H3 3THX Tpex 6aHRoB. TpaAHTEHOHHOe OTJIHgHe C6ep6aHKa OT BCeX OCTa8.bHbIX 6aHKOBCuX yqpexpAeHlHA KOTOPLIe COCTOAJIO B TOM, qTO OH rIPHBjieKaJI BKJaIbI AOMaIIHHX XO3XACTB (HaceieHms),

3.35

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eTa. B nocjiexuHHe ABa rogra npaBHTeJ3hCTBo nIpeXocTaBHJO rocyXrapCTBeHHoro 6iox0 rlpaBneHHIO C6ep6aHKa 60obIIIyEO He3aBHCHMOCTb H pa3penmJIo emy pa3BHBaTL CBOIO B rqpyrHx o6nacTqx. C6ep6aHK 6EIcTpo paCIuIHMpeT TaKHe HOBmIe RA ce6s

AeATenbHOCTb a TaKxce BHAbI e3rreJmbHOCTH, KaK KpeXHTOBaHHe npegripHqTHH H XOMaIIHHX XO3AfICTB, nIpHBneqeHHe ,genO3HTOB nPeXnPHATHH. OH COgeHCTBOBaJI CO3gaHH1O MeXC6aHKOBCKOrO PbIHKa, Ha KOTOPOM BbICTyIaeT cefqac B KaqecrBe OCHOBHOrO KPe=TOPa. C6ep6aHR ero HacsHTbIBaeT 6onee 100 TbIC. aKUi4OHePOB, B OCHOBHOM CBOHX COTPYXRHHKOB, O,HaKO aKiUOHepOM aKuHH elue He HMCeOT XOxgeHRA Ha Pb6HKe UeHHbIx 6yMar. KpynHeflunim KOTOpOrO C6ep6aHKa SiBnDeTCA UeHTpajTbHblIi 6aHK, npegcegaTemeb npaBjieHHA OAHOBpeMeHHO ABJisMeTCS npegcexaTeeiem npaBjieHH C6ep6aHKa. C6ep6aHK nPaKTHieCKKH OCTaeTCA MOHOHOiJICTOM B iipHBjieqeHHH py66eBLIX BKJI8aOB XOMamIHHX XO3XACTB, Ha ero cqeTax xpaHHTCA 6onee 90 npoqeHToBc6epexceHKif, BCe 6aHKH HMeIOT npaBo COCTaBjiAuoiMHX 570 Mjipg. py6. XOTX B HaCTOSLAee BPeMq nIO3WSH OTKPbIBaTb cqeTa c6epexceHHf XOMaIlIHHX XO3XHCTB, C6ep6aHK coxpaHUI CBOH

3.36

no CneJyiOLuHM npHqHHaM: *

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3.45

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3.47

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26

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PoccHH: KpeRHTHo-AeHemHas iHOAHTHKa 1 0

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4.2

UIeneBbie [eHTpaIH3oBaHHbIe KpeMTI He BJISOTCA9342eKTHBHbiM CpeACTBOM pemueHHA H OHH AonxcmHI 6bWm OTMeHeHbI. nepBoA HJIH BTOPON 3agaqil,

4.3

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4.4

KOTOpELe OKa3uBaIOT npIMOe B AaiHOM pa3Aene H3yqatOTCA TOJIbKO Te acneKTmi nojiHTHKH 9P, 10.

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"POCCHBCKaA

DeAepaEmi:

UeHTpaAjHoro 6aHKa", MBD, oKrsi6pi 1992.

aHIai3

KpeAuTHo-AeHexHoA nonITHKH H AeATeJMHoCTU

27

ycTraHaBJHBalOT y9eTHbLie cTaBKH, Ho KOTOpbIM 6aHKH ilOJIyqalOT jiroTHbIe ieHTpaJbHoro 6aHKa; OHH 06bI6qHO gOCTaTOqHO BbICOKH, qTo6LI orpaHHUHT6 KpeXIHTbI.

B

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4.5

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4.6

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Bce-TaKH Heo6xoXgHMo cgeniaT6. HaqanJ6HOMy 3Tany cTa6HnH3auHH o6LIrHo HPHCYUH BbICOKHII YPOBeHb peaJIbHbIX pOileHTHbIX CTaBOK H 3aHMbI npeArpHuTHf, HaxoI.xnxcs B TAUKenOM OJIo)KeHHH, qTO 'qaCTO BegeT K KPH3HCY 6aHKOBCKOA CHCTeMbI. TaKofU xog Co6bIHTU MOmxeT OKa3aTbCA BepOSTHMIM B POCCHH, rge pa3Mep rpoiyeHTHix cTaBOK pe3KO KOJIe6JIeTCs OT nojIOxcHTeJIbHbIX X0 OTpH1aTeJIbHbIX 3HaIeHHf. 9TO 9OJIKHO yqHTIBaTbcA UeHTpaJbHuIM 6aHKOM ripH pa3pa6oTKe H peajiH3aIHH CTa6HJI3auHoHHofi nporpaMMLI.

4.7

K KOHLIy 1993 r. UeHTpaJI6HbI4

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28

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4.8

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4.9

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1993 r.

29

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4.10

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3HatHTeJREHoR CTeIIeHH, A06pOBOJITHbIZflIOAXOXA K 6aHKOBCKOi pedlopMe, o6ecnetrHBaIoWefj CTHMYJIHPOBaHHe 3aHHTepeCOBaHHOCTH 6aHKOB B rIOBErIIeHHH 3c1(4eKTHBHOCTH HX HOPMaTHBOB H nepexogy Ha 6oJIee )KecTKHe HOPME,I Hag3opa. 9To CTHMYJ¶HpOBaHHe ARORKHO npHBeCTH K nOCTOrHHOMY pOCTy Hcjia 6o0iee BbICOKOKaqecTBeHHbix 6aHKOB H HX ycjiyr. HeCMOTpAl Ha TO, qTO XAaHHbIfI noAXxoA nO3BOJIHT CHH3HTh6 AO MHHHMyMa CPLIBbI B 3KOHOMHKe, OH TOJILKO nocTeneHHO rIPHBegeT K O3XgOpoBJIeHHlo 6aH]KOBCKOfl CHCTeMtI H nOBbIIiieHHlO ee sc4pJeKTHBHOCTH B pa3MeUeHHH pecypCOB. Bo BCAIKOM cJIylae, HeKoTopylo noCTeneHHOCT]6 Hen163A H36exKaTn, HOCKOJIE6KY AOJIH Ha pLIHKe 6aHKoBcKHx

CHCTeMe B 6aHKOBCKOi CAMBHm 3KOHOMHKH npeo6pa3OBaHHeM H BO3MOXCHOCTmb nocTeneHHO.' 2

npOHCXOAHTB iXeJIOM, KOTOpOe

MOryT B

Lejiecoo6pa3HOCTb

TOJIbKO

MO)KeT

HPOBeAeHHS

OAHOBpeMeHHO npOXOHT]6

C

JIHH11b

anji1TePHaTHBHOf

TaKxce npHAepXcMBa.jiCb nOWTarIHorO nOAXOAa npu nPOBeAeOHHH 6aHKOBCKOA petPOpMbI, KOTOPbE , TeM He MeHee, OTJIH'ajCSA OT POCCHACKOrO BapmaHTa, ITO CBS3aHO C rjiY6oKHMH pa3jH'qIHMH B CTPYKTYPO 6aHKOBCKorO CeKTopa. B Io mme Bce KPYnHble

12.

BOJIUIHHCTBO cTpaH BOCTO4HOA EBpOnII,

KOMMepqeCKHe 6aHKH nPHHajiexKaT HeriOCPeACTBeHHO npaBHTeJIhCTBY, KOTOPOe npOBOJRUT HX nOCTeneHHYEO nepecTpoiKy H npHmBaTH3aqHiO (CM. "Enterprise Reform in Eastern Europe", S.Van Wijnbergen, The World Bank, WPS 1068, January 1993). B BeHrpmH nOA KOHTpOneM rocyAapcTBa HaXOASTCi Bce KpynHbIe

6aHKH, XOTA CyLueCTBYIOT H aK1uKOHepHbIe 6aHKM, npmUeM B HeKOTOpEIX H3 HMX rocyAlapCTBo He pacnojliaraeT KOHTpOflbHbIM naKeTOM aKLHMi. nlepeCTpOiKa AeSTe3BHOCTH 6aHKOB npOBOAMTCS nO3TanHO, U npaBMTeJILCTBO npeArnonaraeT Co BpMeeHeM COKPaTHTb cBoe y'acTTe B HMX (CM. Competition and Efficiency in Hungarian

Banking, D.Vittas and C. Neal, The World Bank, WPS 1010, October 1992).

31 "o6BaJMHOH" MoXePHH3aLlHH 6aHKOBCKoro ceKTopa KpaTKO paCCMaTpHBaEOTCA B KOHLIe HacTosI11gef rJiaBbI.

4.15

HIporpamma "BaNK Me*JyHapOlHbIX cTaHAapTOB". UeHTpajbHbIM 3BeHOM peKOMeH,yeMoH CTpaTerHH 1i O3AOPOBjieHHIO H rnOBuIIneHHMO 344eKTHBHOCTh CHCTeMbI KOMMepqeCKHX 6aHKOB ABJISeTCA riporpamma "BaHK MexKyHapoIHbix cTaHAapTOB" (BMC).1 3 KoHiXemi BMC npeWycMaTpHBaeT CO3AaHHEe oTAemIHoro YPOBHA 6aHKoB, KOTOpbIe 6yXyT 6oJiee BBICOKO KariHTaJIH3HpoBaHbI, 6y;wT npHAePXKHBaTbCA 6o0iee nIpaBHJIHOM 6aHKOBCKOl nIpaKTHKH H CTaHyT o6beKToM 6onee npHCTaJbHOrO BHHMaHHSA no CpaBHeHHIO C gpyrHMH 6aHKaMH. ByXeT riOO1pAThCA Ao6pOBO3IbHLIf4 nepexoA B cHcTeMy BMC nyTeM npeAocTaBjneHHA HM psAa jibrOT B oTjiH'He OT 6aHKOB, He HMe0OmX cTaTyca BMC. HacToAiee HcCieAOBaHHe He paccMaTpHBaeT BOnpOCE6I, oTHoCAHIIHeCA K BHegpeHHIO cTraHgapTOB BMC BO Bcex pOCCHfICKHX 6aHKaX. H XOTSA paHO HuI no3AHo IeHTpajThHbIui 6aHK 6ygeT B6IHyxKAeH nepeESTH K HnOX6HOf4 ripaKT4Ke, 9TOT nepexog BPAU JIH HpOH430oAeT B TeqeHHe 6IHxKafiiiHx IATH iieT H, cfielOBaTeaJbHo ero peajin3auHM BbIXOHT 3a BpeMeHHLIe paMKH HacToAiuero HccieAOBaHHAl.

4.16

flporpaMMa BMC cTaBHT riepeg co6off *

Co03,aHHe ceTH 6aHKOB, OTBeqa0o1Hx Tpe6oBaHHSM BMC, KoTopbIe rIpHMeHSIOT JIyq'lylO

*

cieAyiouyse B3aHMoCBs3aHHbie 3aAaqH:

ripaKTHKY 10 CpaBHeHHIO C

ApyrHHMH 6aHKaMH.

IlocTerieHHoe 030OPOBleHHEe 6aHKOBCKOfl CHCTeMbi POCCHH, KOTOpOe

6y,AeT

ripo0C0xoAHn mepe

pocTa tHcna EMC H yBeJIHueHHA Hx AOJIH B

6aHKOBCKO04 geATeJIhHOCTE4.

*

HIOBbIeHHe 94lx1eKTHBHOCTH 6aHKOBCKOU CHCTeMbI B pa3MeLLeHHH pecypCOB riyTeM yBejiHqeHEKA AoJm KpeAHTOB, npeAOCTaBnAeMEbIX 6aHKaMH Ha KoMMepqeCKO4 OCHOBe no CpaBHeHH1 C IOnYqHBIUHM B HacTo5fnUee BpeMX LIHPOKOe pacipoCTpaHeHHe KpeAHTOBaHHeM aKIHOHepOB 6aHKa H CBS3aHHBIX C HHM npegripHASTHi.

*

O6ecneqeHHe BO3MO)KHOCTh

HH4¢opMaiwH onpexAejisTb

AJIA

6aHKH,

HaceIeHHA

qTro6ui

COOTBeTCTBYIOUWHe

ARaTm

HM

C

KOHKpeTHbIM

11OTpe6HOCTAM KnHeHTOB.

BMC Mor0m 6bI cTaTb OCHOBO0l AXR HHTerpatwir 6aHKOBCKOff CHCTeMbI PoccHH B mexAyHapoAHEiie j3HHaHCOBE6Ie pbIHKH. CTaTyC BMC o6nerqHJ 6BI HHOCTpaHHLIM KoMTamAHM H 6aHKaM BbI6op jIyIiuHX 6aHKOB AJIM ocyigecTBEieHHA o0iepaIgHf1 B POCCHH.

13.

B TeOeHHe npoiulioro ro,a B paMKax riporpaMMbI TeXHH'eCKoro coTpyJHmqecTBa BCeMMpHbLi 6aHK 3aHHMajicx pa3pa6oTKok nporpaMMEI BMC COBMOCTHO C UcHTpaAbHbM 6aHKOM H oco6CHHo ero MOCKOBCKHM oTAejieHHeM.

32

B cnexywoax pa3gxenax rpsHBO,HTCA nHDmetD unama nporpammw i IBMC, cocTosiierO H3 Tpex OCHOBHbIX KOMnOHeHTOB: Ha6opa HOpMaTHBHbIX Tpe6oBaHHiI, KOTOPbIM 1OJTxKeH COOTBeTCTBOBaTb BMC, KOMIImeKCa npeHmyulecTB, KOTOpbie MOmrf 6b1I npHBne,q 6aHKI K BCTyrICeHHMO B CHCTeMy EMC, H KOMInieKca aAmHHHcrpaTHBHbIX Mep, KOTOPbIe cneiyeT npeAnpHHsAm rsi nPOBeAeHHS npOrpaMM]l.

4.17

HopMaTHBHbie Tpe6oBaHHS nporpaMMbl. HpexrnaraeMbIe cTaH,japTmi MoyT 6b1m

4.18

aimxx nAmBBegeHbI HeMeAJIeHHO J1160 OCyu1eCTBjieHbI IocrenIeHHO B TeqeHHe 6nft B mo6oM cjiyqae HOpMaTHBHbHe Tpe6oBaHHA AonaKHi 6bm o6xs[BJIeHbI C i gecsT neT. MOMeHTa BHeApeHHA ripOrpaMMbI, C TeM wo6bI 6aHKH 3HamI, KaK HM HeO6XOXUMO BCTryIIeHHA B CHCTeMy EMC. HanpHmep, B HaqaJIe BHeXpeHHA nepeCTpoHnCAi ARA151 nporpammhi cTaH,aPT lMC BoTHouieHHH nOKa3aTejiS COOTHOIIIeHSA yCTaBHOrO KanHTaiJa cTerIIeHH PHCKa Mor 6bi 6bm yCTaHOBJIeH Ha YPOBHe 8 K aKTHBaM HIO B3BeuieHHo npogeHToB. B anJTepHaTHBHOM BapHaHTe 3HaIeHHe [raHHoro Ko94)4)HieHTa AOJTKHO 6im TaK)Ke 06¶b[BjieHO C MOMeHTa BHeApeHHA ripOrpaMMbI, H 6aHKH, KOTOpbIe XOTXT 6Mm

I1PH3HaHHbIMH

EiMC, AOJUKHbI

nOAHAT

KO34"HgHeHT oTHomeHHfI KanHTanIa K aKTHBaM

Ao 4, 6 H 8 npOIeHTOB K 1994, 1997 H 2000 nporpaMMbI B 1993 r.).

rT, COOTBeTCTBeHHO

(npH YCJIOBH

Haqaiia

4.19

XOTSA noITaHHoe peOpOPMHpoBaHHe BbInAA1HT 6onee noAxoA=HM ARA ycnoBHfl KOMnpoMHccHHiA 6aHKy noTpe6yeTCS H3yqHTI BO3MOXCHbr UleHTpajihHoMy PoccHi, BapHaHT Mex1y 9THMH AByMA1 nOAXOgaMH. npH "paHKaJbHOM" noAxoge npegnonaraeTCA, rTo 6aHKH ynyquaT 3cI4eKTHBHOCTB cBoefI

AeATenJhHOCTH

HeMeA1ieHHO, oAHaKo mnIm

HeMHOrRe 6aHKH B TeqeHie AuHTeJbHorO BpeMeHH CMOryT noAAepXCHBaTm ypoBeHL, ygOBieTBOpAIOU.Hi

Tpe6oBaHmSM EMC. B

[pyrofI CTOpOHbI, B pamKax nporpaMMbI

noWTanmHo pedpopmbI nosBmieHHe s(bq)eKTHBHOcTH Ae3rreJILHocTH o EMC MOXCHO 6yAeT cKa3aTm,

wro

9TO JIyqIlHe 6aHKH H WrO 9T0

0603HaqaeT

HX 6onee

sq44eKTHBHyio

peopraHH3agrno no cpaBHeHHio c ApyrHMH 6aHKamH. rIpeHMyU.eCTBo no9TamHoro noARxoxga 3aKmo'IaeTCs B TOM, wro

roTpe6yeTcs

MeHbIIffl

o6feM

jTbrOT wTo6bI 3aHHTepeCOBaTh

B KaTeropHIO EMC. HeKOTopas 11O3TaIHOCTm O6A3aTenLHo 6yxAeT npHCyTCTBOBaTm B J1O6OM cnytae, HOCKOJIbKY yyKecToeHHe KOHTpOAS 3a AeATeJ3THOCTblO riOCTeIieHHO, no mepe paClUHpeHHS1 BO3MOxcHOcTe IIpOHCXOAHTb BMC IleHTpaJbHoro 6aHKa. 6aHKui

nepefmTH

6yAeT

4.20

B 9TOf CBS3H BO3HHKaeT Boiipoc: rioqemy 6bI He BHeApIHT cTaHAapTmI EMC OAHOBpeMeHHO ARA Bcex 6aHKOB? TaKOil mar He npeAcTawBieTCS HH

rIO9TaIrHO, HO

rlpexAe Bcero, ripH BHe,gpeHHH 6onee wecTKHx HH XenaTenbHbIM. CTaHAaPTOB 6omIIIasA qacT 6aHKOB He cMo)KeT COOTBeTCTBOBaTh HOBbIM HOpMaTHBHbIM Tpe6OBaHHSM. I1 6bIJ0 6bI HeBePHO nOJIHTH,eCKH H OqeHb He6narOripHATHO ,n o6iixefk CHTYaIHH IIOrbITaTbCS JIHIIIHTb JIHleH3HH BCe 6aHKH. BO-BTOPbIX, UIeHTpaJThHMi 6aHK He pacrioJIaraeT B03MO)KHOCTSMH KOHTpOLA H npOBepKH COOTBeTCTBHA BBOAHMbIM Tpe6OBaHSiAM He TOJThKO TbICWA, HO xaaxe H COTeH AeiCTByIOiouX 6aHKOB. C Apyroii cropoHibi, ripegcTaB AeTCA enecoo6pa3HbIM 6e3oTnaraTenbHo BBOIHTh HODMaTHBbI no OTHOIUeHHIO KO BCeM BHOBb OTKDbIBaeMbiM 6aHKaM. ro mepe pa3BePThIBaHHIA B03MO)KHMIM,

IBMC

33 nporpammbx BMC IUeHTpaimHbif 6aHK gOi)KeH BbUiaBaTh JIUHieH3HH TOJTbKO TeM 6aHKaM, KOTOpBIe COOTBeTCTBYIOT HopMaTHBaM BMC.

4.21 CnexywowuHe IIxBTh cTaHaaDToB MoryT 6brm npHHsATI AnI peocTaBneHH cTaTyca BMC. KaK rOBOPHJIOCb BbIIme, HeKOTOpbIe H3 9THX CTaHXaPTOB MOr3IH 6b1 6bItm BBegeHbl HeMeAJIeHHO H B nIOnHOM o6ieMe, iipeXWCMOTpeHHOM B ojiroCpo'HHOfH OIITHMaJHOH riepcrieKTHBe, HfiH MOryT BBOHTCSA IIO9TarIHo. B mo6oM cnyqae, Bce 6aHKH gOJKxHbI 6yxWT ripegnpHHASTm 3HaRTeJIbHbIe YCHJIM no geACTByiOUyHe COBepiUeHCTBOBaHHIO CBOeH geArTen6HOCTm C TeM, qTO6bI COOTBeTCTBOBaTh HOpMpTHBHMm Tpe6OBaHHAM BMC.

4.22

IlepBbIe TPH cTaHxapTa MOryT 6bITb nO9TaHHO BBegeH6I B TeqeHHe yKa3aHHOrO B CKo6Kax CpOKa

* BMC gojiJeH cooTBeTcTBoBaTb HOMpaTHBaM pa3mepa KaIHTaAa, IIPpeYCMOTpeHHE,IM Ba3enb6cKHM cornameHH4eM Him cTaHAapTamH EC, To eCT6 CooTHOIuIeHHe yCTaBHOrO KaIHITaha K B3BeiueHHBIM no cTeneHH PHCKa aKTHBaM AOJIXCHO 6L1m He meHee 8 flpOUeHTOB nrpH HalHIHH AOrOiJlHHTrejTHiX OrpaHHqeHHiE B OTHOmeHHH CTpyKTypbI KarUTaIia. (nSIA-AeCS neT). * BMC He XrojDKeH npegocTaBjisTm OXHOMY 3aeMUHKY 3aH4Ma, npeBbimaioilero 25 npoLieHToB cBoero KanHTana Bonee Toro, o6MaA cyMMa KpegrHTOB, H3 HHX noJiyqaeT npegocTaBjiAembix OXHOMY 3aeMnHKy, rIpH YCJIOBHH, qTO Kax)bIt 14 KpeAHT, paBHbIfi 10 H 6ojiee npoieHTaM KanurTana 6aHKa, He Mo)KeT npeBmiuaTh 6onee

em

B BOceMb pa3 pa3Mep KanHTana 6aHKa. (TpH roAa).

*

BMC He Mo)KeT npeAocTasjuim

npeAnpHATHo-axiLHoHepy KpeAHThI B CyMMe 6onee 10 npOi.eHTOB Ka&ITaJTa 6aHKa, a o6wgfi TaKHX KpeAHToB He MO)KeT npeBbIIliaTm 20 npOgxeHTOB KanmTaJIa C npeAnpHArTHMH-aKtcHoHepaMH Bce KpeAHTHMie onepagHiu

6aHKa

o6fbeM 6aHKa.

6aHKa AOJDKHbI rpOBOXIHThCA TOJThKO Ha KOMMepteCKOfl OCHOBe (nsTb neT).

OcTanbHbie cTaHAapTbI, KOTOpbie AOJIKHbI 6bIT 4.23 nocne Haqana nporpaMMbI:

BBeAeHbI HerocpeACTBeHHO

*

Pa3Mep KanHTajia BMC AOjiueH 6brlT

*

BMC xonxJeH npeAocraWIATB KBaPTaTHbIbe oTeTmI o60 BCeX 3aeMIugKax, KOTOpbIM npeAocTaBnieHo 6oJiee 10 npogeHTOB KanHTaJTa 6aHKa, HJIH

He MeHee oAHoro MH3inHaPAa py6nefi, MHHHManbhHwIH YPOBeHb6 KanrTana AOjDKeH KOppeKTHpOBaTfCSI exKero,iHo c yqeTOM YpOBH1I HH43JIAIIHH.

6o0iee 5 iTpoLIeHToB, eCJIH 3aeMUWK SIB3iSeTcS aKuOHepoM 6aHKa.

34

*

IBMC

AojiJeH

pacnojiaraTm

pe3epBHbIM

4)OH,gOM

Ha

IIOKpbITHe

nOTeHgHaJIbHLIX y66IITKOB HO ccyAaM, no KOTOPbIM He ynnaxmBaeTcs CCYXHbIH npoiReHT.

*

EBMC ,ojiKeH HcIIonM3OBaTh IpHHSThIe MeTo,ri yteTa H oT'eTHocTrH H peAOCTTaBjiATb oTqeTbI B OTXeZJ Ha,3Opa IeHTpaJIbHoro OTCjeI)KHBaHHA CBoero 4)HHaHCOBOrO COCTOHHSH.

*

EMC xojixeH aygHTopCKOH

6aHKa AJI

noxiBsepraTmcA exceroxrmof ayXiiTopCKOk ripoBepKe BHeIHeii 4)HpMOf H3 qHcfla peKOMeHXOBaHHbIX

UeHTpajThHBIM 6aHKoM.

*

4.24

EMC ,oniKeH npHg"epflHBaTbcA "npaBHJI rIpoBeAeHHA", pa3pa6OTaHHbIX UeHTpaJbHLIM 6aHKOM AJIs peryjmpoBaHI OTHOmeHHfi 6aHKa c KJIHeHTaMH H rapaHTHH YeCTHbIX H CIpaBe,nIHBbIX OTHOmeHHf.

BMC B paMKiax npOrpaMMbJ. fIaKeT nbrOT XOjDKeH npecJxexosaTm ijenm CO3XAaTb KPHTHqeCKYIO Maccy EMC, T.e. 'lHCJIO, AOCTaTOqHOe qTro66i C(DOpMHpOBaTm AXpO 6aHKOBCKOH CHCTeMbI, HO He HaCTOJIbKO MHOrO, oftO6bI IeHTpajmHbIH 6aHK He MOr 6bI OCyigeCTBJLTb ROJDKHOrO Ha,3Opa 3a HX esATenbHocTMbo. rlpHiiaraeMbiH HIeK nepeqeHb npH4BOXHT nDHMeDbI JibrOT, KOTOpbIe MOrJH 6bi 6BITb ripeAocTaBJIeHbI JIbroTbi, npelocTamseMbie

EMC.

IIpaBo nojiyHTB cTaTyc EMC.

rIoxo6Hbif4 3HageHHe xiiA 6aHKa, IIOCKOflbKY AaBan 6b MeHbuIHe npoxeHTbI no BKJIaxgam.

cTaTyC HMeJI

6bi 6onbImoe

eMy B03MOXKHOCTh

IlflaTHTh

*Bonee AeiiieBbie KpeAi4TbI IleHTpanbHoro 6aHKa. riony'eHHLIe JTm6o no 6onee HH3KHM yqeTHbiM cTaBKam, 3IH60 3a cieT pa3peimieHms 6onee AeIIIeBoro 3anorosoro o6ecrieqeHHA. 9To MOXKHO onpaBxaTm qHCTO KoMMep t qecKH: Kpe,HTOBaHHe BMC 6bino 6bI CBS3aHO c MeHbuiHM P4CKOM.

rlpexocTaBjieHHe

jTbrOT B OTHOUieHHH CTpaXOBaHIA BK1IaAOB XOMaUIHHX

X03Af4CTB. OxHa cTpyKTypa 9TOi imroTbI npexnonaraeT BHeceHHe BMC 6onee HH3KIIX CTpaXOBbIX B3HOCOB npH CTpaXOBaH4HH 9THX BKna,OB. CyIeCTByeT H xrpyrof, 6onee 93c1xeKTHBHBIlf nyT6: HCnO3Th3OBaHHe AOCTyria K CTpaXOBaHHIO BK3iaXOB KaK CTHMYJI ARA 6aHKa BOATH B CHCTeMy BMC. EMC flOJIyIHJI 6BI AOCTyrl K CTpaXOBaHHIO BKJInaOB AOMaifiHHX X03AftCTB H HMeJi 6BI BO3MOXHOCTb HCnOJIb3OBaTh 9TH BKjia,bI X4A OCyigeCTBJIeHHIA KpeAHTHbIX onepaLgHH, npHpepXHBaAi6 npH 9TOM JIHIU6 O6bIqHbIX pe3epBHLIX Tpe6oBaHHf4 B OTHOuieHHH aHHbIX geno3HTOB. C Apyrou CTOpOHbI, MOJCHO 6bIJI0 6bI BBeCTH nojio)KeHHe, B COOTBeTCTBHH C KOTOPbIM 6aHKH, He BXOAa1IUMe B CHCTeMy BMC, AOjLKHbI 6bIJIH 6LI nOnHOCTbIO nepeBOxHTh BKnaI]bI AOMamHHX XO3XACTB Ha CHneiHaJbHHiH

35

cseT HOA

HH3KHH npOileHT B UeHTpanJ6HOM 6aHKe AIA co6rnoAeHHA ripaBHJI CTpaXOBaHHA gaHHbIX BKnaAOB. TaKas npaKTiUKa rapaHTpoBana 6bI IIOHTH HCKJIIOtIHTeJIbHoe BHeCeHHe BKjiaAOB AOMa8UHHX X03AACTB B BMC HJH B C6ep6aHK. rIOMHMO 3Ha8HTeJIT6HOrO rlOBbI6iiHIeHI 3aHHTepeCOBaHHOCTH 6aHKOB BOUITU B qHCJIO BMC, 9TO TaK)Ke 1I03BOIIUO 6bI Cep)KxaTB pa3BHTHe CHCTeMHbIX rIpO6JieM B 6aHKOBCKOf4 cHcTeMe POCCHH." 4

CHHpKeHHe

"Beca"

Toro

1HJIH HHoro

PHCKa,

HCIOJh3yemoro IIPH

oTpeAeneHHH aCeKBaTHOCTH KaiiHTaJa 6aHKa,rro npHBeAeT c cHHX(eHHiO CTOHMOCTH 3ae MH6IX cpegTcB Ha me)6aHKOBCKOM HUeHTpam6H16uA pbI6HKe.

6aHK TaIKxe mor 6ibi orpa.HHqHT]b KpeAHTHY10 AeATeMT~HOCTb C6ep6aHKa, pa.3peLUHB emy nPexAocTawLqTis 38.eMHMi cpeACTBa Ha mex6aHKOBCKOM PbIHKe TOJIhKo 6aHKaM BMC. *

pJO6ierTIeHHe pa.3peifLuHHS

paCIlHpeHHA

ceTH

68aHKa.

rryTem

aBomaTH eCK

Ha CO3Aa8HHe HOBBIX oTAenieHHfi 6aHKa H iTeOTajeR

ripeHMyBgecTBeHHoro *6 3aHCYMIorHTeJMHoe

inpaBa Ha rIOKYBnKY IHKBH6HpyeM6ix 6aHKOB.

p B

B pamKax 6yAuyigefi II.HHLHfa a3eulHHA p8.3

H Ha KaqeCTBe nHTB r a K8.oTCTb 6aHKa-ylIa.cTHHKa flporpammbl Ka.CKaAxHoro (HJIH rnHpamHAHoro) KpeAHTOB (THna ArIEKC) npH iMpOBCeAeHHH

onepalHfl ca YICTHem meKAXyHa.pBOXAHbIX

(CHHa.HCOBbIXopraHH3alIHH4.

N llpNBOolepxNKa l4HHa.HCHpOBaHHH nlpH

KOHTpa.KTOB Ha

yripa8BJ1eHHe

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yCjiyr,

H A~PyrHx noAo6Horo poga corniaieHHfl 0

CTNCyAHHqeCTBe C HHOcTpaMHH16MH 6aHKamH.

4.25

YnpanBneHHie nIporpammo EMC. AM KOOPAXHHaiHH rIporpambMM, B]6iAaqH flHI Mi H COBmeCTHoro c KoHTPOJI"HbIM YnpaBJIeHHem pueHTpaJibHoro 68.HK HaA3opa 3a AeAITejhH0onmo BMC UeHTpaJA6HLIA 6 AOjiKeH aHK CO3A TO cneLuHajHoe YcIpaBneHHe BMC. YnpaBneHHe MOrJIO 661 6MI CT 3XC08.HO Ha OCHOBe MOCKOBcKoro oTAejTeHHAl UlelrpaAb6Horo r6aHKa, K0T0poe B HaCToAsiTee BpeMA1 pa3pa6aTIBaeT niporpammy BMC. 4.26 BaHIKH, HeceATeH

x(eJiaioIHe

no3yHTb

cTaTyc

B Aa.HHoee ypaBIeHHee H npe

BMC,

morHiH

6b

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36

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4.28

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37

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39

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B TemeHue nocieAlHero AecsxTueTHA MHorHe cTpaHUi (BKlnO'asA HeKOTOpUIe 3KOHoMHIecKH pa3BHTme CTpaHbI) nepeXKnHJ KpynHhie cpNHaHcoBEIe KpH3HCbI, TO nOCJIY)KHJIO TO1qKOM AJIAS To3sBJIeHHS OrpOMHOrO nOTOKa iHTeparypbl Ha AaHHYIO TeMy. XopoIIHM upMmepoM n,oR6Horo poAa HccneAOBaHHfl, paBHO KaK U yqe6HUMm noco6HeM, MoryT nocnyxcmTb The 1989 World Bank Report H Banking Crises: Cases and Issues, V.Sundarajan and T. Balino, IMF 1991. JaHHxme HCCJieAOBaHHiA TaKKe OnHCblBalOT [npaKTHlqecKHA OnIIT 6opb6Ub C 9THMH KPu3ucaMu H npHBOAT npHMmepEauarOB, npeAnpHHATbIX ARA nPeOAOReHHS STHX KPH3HCOB npasBTOJeLCTBaMH HeKOTOpUX CTPaH, BKRIOqaM ApreHTlHy, 'IHjim, Kopeio, HCnaHHio H TypEwHo.

40

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paCriojio)KeHHbIX B KpymIHLIX ropoAax, 6aHKaM meyHapoAHbix cTaHAaPTOB (EMC).

4.40

B cooTBeTcTBHH co BTOPbIM BapHaHTOM, C6eperaTem6HEIai 6aHK cocpeAOqNwTCA Ha IIpHBJIe'eHHH BKJIaAOB AOMauHUX X03XINCTB, BLMOJIHAIS pOJIb, CXOXCyIO C pOMIO CyLIeCTBybOuLHx BO MHOrHX CTpaHaX IIOqTOBLIX 6aHKoB. B AraHHOM BapHaHTe C6eperaTenLHOMy 6aHKy 6wbIo 6M 3anipeI1eHO npeAOCTaB 36KpeTHnI npeInpH5rrHM, H OH 6EIm 6b OrpaHH'IeH B pa3mepe ccyA, npeAocTaAemIe x gOMamHHM X03ANfcTBaM, H o6¶beMax KpegHTOB, npeAnaraeM]ix Ha MexC6aHKOBCKOM pbIHKe. HaripHmep, C6eperaTeumHOMy 6aHKy MO)CHO 6bIJx0 6bI pa3peIlUTbT npeAocTaBen KxpeAHThI Ha Mex(6aHKOBCKOM pLIHKe B o6'beMe, He npeBEbiiaioIEIem 10 IipOpeHTOB OT BKTaAOB, a ripH Kpe,HTOBBHHH HaCeCeHHS -- go 15 npOtXeHTOB, HO He 6ouiee 5 MHNTJOHOB py6neft

41

KaX(AOMY 3aeMUIlHKy, T.e. B npegenIax

THrOBOrO

KpeXWTa Ha

roKyHKy

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HHoTeqHoe KpeHTOBaHHe TaKxKe MoxKeT 6bITL paCCMOTpeHO KaK OAHH H3 B03MOCKHIX BapHaHTOB Kpe,HTOBaHS goOMaXHHx X03SI4CTB. Ha HaiaJMHOM sTane TaKaA 4)opMa KpegHTOB AOJDKHa 6BIT pa3pemueHa TOJT6KO B He6oJIbIuoM 06obeMe OT o6U[Xero HopT4eRA KpeHTOB, HOCKOJIBKyn epeg C6eperaTenbHBM6 6aHKOM CTOHT 3agawa Ho pa3BHTHIO HaBMIKOB

o4)OpMJIeHHS BBI6gaqH H o6cJyIXBaHnsI Kpe,HTOB. OcTaJIBHbIe BKJia,bI MorIH 6BI 6Bim HCIIOJIb3OBaHLI ANA nOKYrKH He o6pauaioUXHxcsA Ha PBIHKe rOcyXapCTBeHHbIx ueHHbix 6yMar c nepeMeHHoi npOLeHTHOI CTaBKOfl Ha HeCKOJTbKO nYHKTOB HHJKe yqeTHOI CTaBKH

UeHTpaJmHoro 6aHKa, BHIinymeHHIX CHeiHaNjbHO

4.41

B cJIytae BbI6opa

AJIA

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xaHHoro BapHaHTa C6eperaTeJIbHbI6i 6aHKc o6ecnemJI 616 BceM

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6bI BbICTyHrTa

B KaqeCTBe mHcTpyMeHTa nojiHTmc UeHTpaAbHoro 6aHKa npH onpegeneHI- 6a3oBof npOUeHTHOH CTaBKH. TaKOu BapHaHT npeXCTaBJAeTCA rpeXUoqTHTeIbHbIM, HO KpaHeHI Mepe, Xo Tex nop, HOKa He HIOABHTCSA AOCTaTOqHOe KOJIHNeCTBO KOMmepqecKmx 6aHKOB, cnoco6HbIX BbInoONHITh 9TH 4)yHKIXHH, H AO Tex nop, noKa UeHTpajibHLI6i 6aHK He 6yAeT cnoco6eH oCyIeCTBRAT]6 9c2eKTHBHLIf HaA30p 3a AesTeJIbHOCTIO

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4.42

rIepexo, K pbIHOqHOfi 3KOHOMHKe ynpa3HHfl OCHOBHbIe 4 NyHKWH rlpoMcTpof6aHKa. C yqeTOM BHyTpeHHefI WHHaMHKH 6aHKa MO)KHO npeHojIOxcHmT6, qTo IIpOMCTpof6aHK Mor 6bi cTaTm riperLATCTBHeM npH npOBeAeHHH npOrpaMMbI pe4)OpM. ro mepe OTKa3a OT rOCyxapCTBeHHorO KpeAHTOBaHHA, o6seM oHepagidHl IpOMcTpOf6aHKa pe3KO COKpaTHTCS. BbIcoKaA XOJiS KxpeAHTOB, nO KOTOpbIM He nOCTyHaTOT niIaTexuH CTaBOK, H npo,onxaioWaACA TeHAeHI,H o6oco6neHHu OTXejieHHfi rlpoMcTpofi6aHKa TaKwe oKaeKeT BJIHAHHe Ha coKpaugeHHe o6fteMa onepaIHfi 6aHKa.

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4.43 aKTHBHOA

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flpOMCTpoN6aHKa, HCnOJIb3y)l cJIeARyiowe MepbI:

H UeHTpaJbHbIif 6aHK AOJDKHMI HOTpe6oBaTm OT npoMcTpof6aHKa HpOpoaTb CBOH aKIHH B 12 perHOHan]HbIX 4HnHaanax 6aHKa, B KOTOpbIX 6aHK BnageeT KOHTpOJThHbIM HaKeTOM. BioJIHe B03MOXCHO, qTO HeKOTOpbme H3 9THX 1)HjiHajiOB npeBpaTITCA BcjieA 3a ApyrHMH 6bBIIHMH OTTRejieHHAMH rlpOMCTpOf6aHKa B OTHOCHTejTbHO npaBHTenbCTBO

AIHHaMHtqHbIe 6aHKIH.

OT rIpOMCTpOf46aHKa TaKxce MO)KHO HOTpe6OBaTb paCCTaTbcA CO BCeMH aKTHBaMH (BKJIIOqaA HeABHwK4MOCTb), He BXOXRIWHMH B cdpepy ero OCHOBHON4 gesTenbHOCTH. BbIpy'Ka, rOjiyqeHHaS OT 3THX npOAaJK, He

42

AoJHa HCrIO3h3OBaThbCA Ha nrpeAocTaBjieHHe HOBBIX KpeAHTOB, a AoJDKHa 6bITb HarIpaBjieHa Ha riOKpbITHe AOjIrOB flpoMcTpoA6aHKa IInpaBHTeCTBY H IjeHTpam6HoMy 6aHKy Hnx ,ReIIOHHpOBaHa B KaKoM-31H60 ApyrOM 4,HHaHCOBOM yqpexceHHH KaK rapaHTmI *UeHTpajbHbIli

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onepa1HH (PHHaHCHPOBaHHA PHCKOBaHHMiX KpeATOB IIpOMCTpOi6aHKa H3 CPeACTB BKJIaAOB AOMaUHHX X03AfICTB.

.4.44

BO3MO)KHO, wTO nocnie npOBexAeHHsI pa3yKpyuHeHH

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43HHaHCOBOfk CTpyKTypOf4. EcJIH We STorO He

npeAnaraemsie MepbI o6ecneqaT nocTeneHHoe coKpameHHe oriepaWdl

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43

5.

PA3BHThE bHHAHCOBOR HH4PACTPYKTYPbI

5.1

B HacTosAulei rniaBe paccMaTpHBaIOTCS HaH6onee BaxKHbIe pe4)opMbI cDHHaHCOBOf4 iaHHppacTpyKTypbI POCCH1H, Heo6xogHMbIe xIA Toro qTO6bI noxAepX(aTh pa3BHTHe npoqHofh H 934X4eKTHBHOf1 pbIHOqHOfi 4¢IHaHCOBOfl cHcTeMbI. DHHaHCOBaA HH4paCTpyKTypa BKJIIO,aeT B ce6s IIpaBOBbIe OCHOBbI, peryjJHPOBaHHe H yqeT, rocygapCTBeHHbIe HHCTHTyTbI, npogeCCcI H CHCTeMbI, B KOTOPbIX geHCTBYIOT (DHHaHCOBLIe yqpexKgeHHA. B gaHHofi rnaBe paCCMaTpHBalOTCA1 cie,gyioiiHe acneKTbI 4(HHaHCOBOH HH(bpaCTPYKTYPbI POCCHH: flpaBOBbIe OCHOBU6, pm3BHTHe 6yXra=TepCKorO yqeTa H aygHTa, o6ecneqeHHe 6aHKOBCKoro peryIHpoBaHHA H Ha,3opa 3a AeSTeJIbHOCTbIO 6aHKOB,

nOArOTOBKa

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17

TpaBoBbie OCHOBbI

5.2

rIpaBOBbIe OCHOBbI cyigeCTBOBaBIneH paHee 1ieHTpajiH3OBaHHOH nnjaHOBOA 3KOHOMHKH HCXOXHJIH, B OCHOBHOM, H3 agMHHHCTpaTHBHbIx, a He AoroBOPHLIX OTHOUleHHI4 H 3HaqHTenJbHO orpaHH1HBaJIH npaBo HMeTb qaCTHyIO C06CTBeHHOCTH H npaBo pacnopAxaTbcs ejo. EaHKOBCKaS H (DHHaHCOBaq CHCTeMa paccMaTPHBsaRaCb KaK HeoTbeM3ieMaS IaCTb rIIaHOBO1l 9KOHOMHKH H eCfCTBOBmaa IIOqTH xeJIHKOM Ha OCHOBe Heny6jiHKyeMbIx 3aKOHoAaTeTJIbHbIx aKTOB. HlOHSATHA pbIHOxHOHl 9KOHOMHKH 0 cBo6oxe

3aKJiio0eHHA KOHTpaKTa H o6MenpHHsTbIx nP1HHuHnax ripaBoBoro rocyxapcTBa 31H60 6bIJIH HeH3BecTHbI, jH6o OTBepraJInHcb.

5.3

3a nocjiexAHHe nojiTopa roxga nojioxKeHHe Haqanio MeHAThcA. BbInH cgenaHbi

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(cyugeCTBOBaHnA)

iTpaB CO6CTBeHHOCTH, BKjiOoqaSq HHTe3iJieKTyaJILHyIO C06CTBeHHOCTb, H 3aKOHOB, peryniHpyioL=ax ApyrHe 06x3aHHoCTH; (B) onpegeJIAIOT HOPAXOK paCCMOTpeHHS

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C

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5.4

KOHc3JIHKTOB, cBA3aHHbIX C rpOTHBOpeqHSIMH B 3aKOHoAaTejTbCTBax.

B peKOPAHO

KOPOTKHeCPOKH3aKOHOAaTeJIbHbIMHaKTaMH BePXOBHbIM COBeTOM H npe3HAeHTCKHMH yKa3aMH 6bIn npHHAT pXA 3aKOHOB: "3aKOH O 6aHKpOTCTBe" (geficTByeT

c 1 MapTa 1992 roxa), "3aKoH 0 BajiTOTHOM peryJIHpOBaHH4" (c 4 HOA6pA 1992 r), CyD.eCTBeHHbIe riOripaBKH B TPYXOBOM KogeKce (25 ceHTM6pM 1992 r.), a TaKKe 6onibloe yKa3OB H iIOCTaHOBjieHHfI nO pa3JIHqHbIM acTeKTaM, KaCa1OIHIHMCA

KOJIHtqeCTBO

17.

HaH6onee BaxKHbIM 3JIeMeHToM 4rnHaHCOB091 HH4paCTPyKTyPbI SBjiAeTCA L]eHTpambhbiA 6aHK, C KBaaJIH4luIpOBaHHbIM nePCOHaJIOM H CpeACTBaMH, IIO3BOJIA1oU£MmH eMy 4)OpMyjiHpOBaTb C)HHaHCOByIO H perylixpyioUiy HOjINTHKy. OAHaKO 3TOT BOllPOC He paCCMaTPHBaeTCI B HaCTOXAgeM AOKjiaAe. EMY yejIZCeTCA BHMmaHHe B AoKxcaje "PoccHAcKax <DeAepawuX: yKpeniIieIHeH aHlaHJ3 MOHeTapHbIX onepaiwA ILeHTpaJIHOrO 6amnca. MB4, oipi6pb 1992 r.

44 HHTenJIJeKTyambHOI Co6CTBeHHOCTH, TpaCTOB, 3anoroBoro o6ecneqeHHA, aKiwoHePHbIX o6ieCTB, pa3JIHqHoro poga ToBapHiecTB, peryj1HpoBaHHA PbIHKa IXeHHbIx 6yMar, BOIIpOCOB He(¢TMHOH H ra3OBOH rpoMbITiJIeHHOCTH, 6yxranrepcKoro yqeTa, H 3eMeJhHOft pe4opMbi. no mepe KOHCTHTy1HOHHOI pe4OpMbI, HHOCTpaHHbIX HHBeCTH>Hi pa3BHTHS pbIHOqHOfI 9KOHOMHKIH MHOme H3 9THX 3aKOHOAaTenJbHbIX aKTOB noTpe6yIOT KOppeKTHpoBKH. ARA ocyUeCTBneHHM o6UHX npHHUHIOB, 3aJIO)KeHHbIX B pa3JIH4HUIX 3aKOHOgaTenjbHbIX aKTax, nOTpe6YIOTcs TaKxKe AonoJIHHTeJbHMie pernameHTHpyioii e 3aKOHOAaTeJIbHbIX BTOpOrO IIOKOJIeHH HOpMbI H npoiAeAypbI. rIOHago66HTCq C03gafHHl aKToB, BKJIIO'qaS npHHATHe Mmep no ciiegyioloHM BOnpocaM: rpHBaTH3aIIHH,

HenjiaTeicecnoco6HOCTb. 3aKOH B 3TOii o6JIaCTH y)Kxe cyieCTByeT, HO AR ero sqc1beKTHBHoro 4)yHK9HoHHPOBaHKs Heo6xogiHMo npIHHST iLenbifk Heo6xoAHMa pa3pa6oTKa PAA nO)A3aKOHHbIx aKTOB. B 'acTHocTH, nonO)KeHHH OTHOCHTenJbHO KPHTepHeB I1pH3HaHHIA rOCygapCTBeHHMIX HerJIaTexcecnOCo6HbIMH, pa3XjefleHHS OTBeTCTBeHHOCTH, npeAnpAxT1HTH B3BeLueHHOrO 4HppM, rOCygapCTBeHHbIX y6bITKOB 4HHaHCOBbIX peryjiHpOBaHHs, HanpasneHHoro Ha o3,OPOBeHHS HenJiaTexKecnocO6HbIx npe,gnpHwTH,

H KpTepHHeB 6aHKPOTCTBa.

3aaiorax O 3aKOH CyIImeCTByIoIlHfI o6ecneqeHHe. 3anoroBoe o noIro)KeHHA qeTKHe OTCYTCTBYIOT HeM B MajiOc12eKTHBeH, nOCKOJIbKy IIpHOPHTeTHOCTH KpeAlHTOpOB. KpoMe TOrO, OH He npeXyCMaTpHBaeT geHTpann30saHHoro MexaHH3Ma perHCTpaiAHH 3anorOB a TaK)Ke npaBHJI B3bICKaHKS 3anora. *

3aKOHbI O Co6CTBeHHOCTH. OnpegaeneHHe npaBa C06CTBeHHOCTH Ha TOBapbI H HeMaTepHaJIbHbIe UeHHOCTH B iLejiOM yXOBfleTBOpHTejIbHO, HO HeO6XOXU4MO BHeCTH yTO'IHeHHe B 3aKOHOgaTeJIbCTBO 0 BjiageHHH 3eMjiefi.

Be3 3HaqHTeJIbHbIX H3MeHeHHft B 9TOH o6naCTH 3aKOH 0 3aJIOrOBOM o6ecneqeHHH He MoKceT 6bITb ac141eKTHBHbIM, a 9TO nperI1MTCTByeT np4BjieteHHIO HHOCTpaHHbIX 14HBecTHL]Hf.

*

3aKOH o nipeHinSHTHI4X. PaCCMaTpHBaeTCq HOBbIU 3aKOH o6 aKyHOHepHbIX o6uieCTBax. OH XOJIKeH peLIHTb TaKHe BOIIPOCbI, KaK CO3AaHHe KOMMep,eCKHX npegrnpHsTHHt, onpegeiieHHe cTaTyca orpaHHFeHHOH OTBeTCTBeHHOCTH, rpOUpeAyPbI BXOKgeHHA Ha PbIHOK H BbIXOXa C pbIHKa, CeHe)KHbie 3aMMbl, rIOKyrKa B paCCpOrKY H apeHAa. 3aKOH 0 pacqeTax H CHCTeMax pacqeTa. CpO'qHO Heo6xogHMa pecjopMa CHCTeMblI pacqeTOB, rIOBbIUIIeHHA C LtenbIO YCOBepuIfeHCTBOBaHHA 6e3OnaCHoCTH H HCHIOJIb3OBaHHA HOBOfI TeXHOJIOrHH. npHOpHTeTHOM 3agavefi 3geCb BJIASeTCS pa3pa6OTKa KOHiLeriLHH KOMMYHHKagHfi H OpraHH3aUHOHHOfl CTpyKTypbI. COBepiUeHCTBOBaHRe TexHoJIorH HMmeeT npAMOe OTHOuieHHe K 3aKOHY 0 9OKa3aTeJTbCTBeHHOM ripaBe, KOHTPaKTaX H ArPyrHx npaBax co6CTBeHHocTH. HOBaS TexHojiorHq nOTpe6yeT TaKxce

45 HPOBegReHHA ApyrHx Mep, HanpHMep, perJiaMeHTHpoBaHsA 3JIeKTpOHHOu CHCTeMbI riepeBOOB geHeXHblIX cpeXCTB. 3aKOHogaTeImCTBO 0 ueHHbIX 6vmarax. Heo6xoAHMa pa3pa6oTKa iioJIo)KeHHH, peryJIHpyIOUWX pbIHOK BbIiiyCKa H onepagHfZ c i4eHHbIMH 6yMaraMH, BKJIIOqaq yripaBJIeHHe HHBeCTHLIHOHHbIMH oriepaunmm. TaKoe 3aKOHOgaTeJIbCTBO yxce HaXOXAHTCS B CTa,XHH pa3pa6oTKH. OHO XROXKHO o6ecneqHT]6 nPaBOBYIO OCHOBY AJSI Co3)aHHS ynpaBJreHHA no TOproBJe ieHHbIMH 6yMaraMH, cIOHXOBbIX 6HPiK, (pIHpM, CHeIIHaJ1H3HPYIOIIHXCA Ha onepausAx C LieHHbIMH 6yMaraMH, HHBeCTHIHOHHbIX 4)OH,OB, COBMeCTHbIX 4)OHROB H gpyrHx (1HHaHCOBbIX yqpexKgeHHH. *OHROBbIe 6HPH. flporpamma npHBaTH3anH 3HatHTeNjbHO fpOXBxHeTCA Briepe;j, ecJii 6yXgeT YCOBepIeHCTBOBaHa CHCTeMa TOprOBjiH leHHbIMH 6yMaraMH. IlpoeKT 3aKOHa rio CO3XaHHIO H peryn pOBaHX41 AeATeJIbHOCTH q)OHXOBbIX 6Hpx yxe CyigeCTByeT, HO 3aKOH r1OKa He nPHHST. *

CTpaXOBaHHe. 3aKOHOgaTejmbHas 6a3a B o6JIaCTH CTpaXOBaHHS1 nOjrHOCThIO OTCyTCTByeT. Heo6xoxgHMo Co3gaaHHe peryJn4pypoiero opraHa H pa3pa6OTKa COOTBeTCTBy1OIIHX flOA3aKOHHbIX aKTOB HO CO3AaHmO qaCTHbIX CTpaXOBbIX 4HPM, "6JIaropa3yMHOMy" (npygeHga.]bHOMy) peryjTHpOBaHHIO, yx1aCTHIO HHOCTpaHHLIX CTpaXOBLIX KOMnaHHf H nepeCTpOfIKa CHCTeMbI COIHzambHoro o6ecneqeHHA.

5.5

COBepIIIeHCTBOBaHHe B BbIiueyKa3aHHbIX o6nIacTAx nOMOxceT C03gaTb lLHpOKylO pa3BHTHA pbIHOqHOH 6aHKOBCKOf CHcTeMbI. Heo6xoxmmi TaKxCe 6onee KOHKpeTHbIe nOJIO)KeHHA B o6JIaCTH 6aHKOBCKOrO H 4)HHaHCOBOrO HpaBa. rpeACTOHT pelUHTh P31) CTPYKTYPHbIX BOIlPOCOB, B 1aCTHOCTH, BOrIpOC O po0H H nOjmHOMoqHAX IleHTpaJThHOrO 6aHKa H ero B3aHMOOTHoIIeHHxx c rapJIaMeHToM, MHHHcTepCTBOM dFHHaHCOB H ,gpyrHMHOTpaCJIeBbIMH MHHHCTepCTBaMH H TaKHM o6pa3oM OnpegeZJHTb HX MeCTO H O6A3aHHOCTH B CHCTeMe Hag3opa 3a 6aHKOBCKOH gesrTejTbHOCTbIo, o6mme HanpasB3eHHA B pa3BHTHH 6aHKOBCKOH CHCTeMbI H, B qaCTHOCTH, onpegeneHHH xaparrepa H MaCIUTa6OB nOflHOMOqHfI H o6A3aHHocTef 6aHKOB.

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cyAe6HLIx pemeHHRf, TLeHTpanbHbIH opraH no perHcTpaiHH 3aJIoroB, a TaKxKe yqpexKAeHHA no iopHxIeC HCrIOJIHeHHIO 3ajioroB, c60py HajorOB H BbInoJIHeHHIO gpyrHx noAo6HbIx 4yiHKuH.

Heo6xoxHMo TaK)Ce CO3,AaHHe yqpeK;XeHHAs no npegoCTaBJIeHHIO KOHKpeTHLix

46 6aHKoBcKHx ycjiyr, HaripHMep, aHaJI3a cTaTHcTHIecKHx rioKa3aTeJieH AeMTeJMHoCTH ripeAipH4ATHf, CHCTeMbi XpaHeHSA AROKyMeHTaIJH rnpeIpH=slH, yqeTa HeiTorameHHbix HJH qeKOB, OgHOpa30BbIX iiIiaTexceH, ounH6oK B nIIaTexax, a TaycKe yTepSHHbIx rIOxHuleHHBIX qeKOB. ByxraJITepcKnil yMeT H ayAHTopcicas npoBepica BaHKH H ApyrHe (pHHaHCOBbie y"pexAeHH B POCCHH B HaCTo=ee BpemA H ayAi4a gefCTByI0T B YCJIOBHXX OTcyTCTBHs HagnexaLgeR CHCTeMLI 6yxranTepcKoro yteTa

5.7 H

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6yxrajTepCKoro yteTa B POCCHH HCTOpHgeCKH 6LijIa OpHeHTHpOBaHa Ha o6ecneReHHe IleHTPaJIH3OBaHHOrO KOHTPOJIS CO CTOpOHLI rocygapCTBa 3a HCIIOJTh3OBaHHeM peCypCoB ByxranTepcKHe KagpBI B OCHOBHOM 3aHHManIHCB CqeTOBOACTBOM, cjierio npeAnpHATrii. co6JnowaH MHoroqHcjieHHBIe HHCTPyKMHH H yXenSI Manjo BHHMaHHS npHHWnaM 6yxrajiTepcKoro yieTa. ByxranTepcKi4fi yteT Ha YPOBHe npenpHsrrHs

H 6aHKa Manjo

OTjIHaJICSA OT ytIeTa, OCyiueCTBjiSeMOrO B rOCygapCTBeHHbIX BegoMCTBax, H npeACTraBJ o3Haqana c060A Ha6op LieneBbIx q)OHAOB. 3KOHOMHYeCKaS H303SIgH POCCHH no cyn4ecTBy HHOCTpaHHofi OTCYTCTBHe HeO6XO9JHMOCTH 3aHHMaTBCSA fpo6JIeMaMH, CBI3aHHE IMH C HeHyX(HbIM. 6bIn1 yqeT ee BaJioTOfi. rIOCKOJITKY HH4fRAUM CtHTaJiacb HeCyaxeCTBy1OLgefi,

He 6hmlo qeTKO HaIiaJKeHHOH CHCTeMi6I nPOBepKH cqeTOB 6aHKOB H nPpe,rnpHATHH. BMecTo pa3 3TOrO ripeACTaBHTeJIH HaJIOrOBOf CJIy)K6bI IIpOBOXHJIH HHCIIeKLHOHHbIe peBH3HH OAHH B gBa roAga, KOHTpOJIHpYA JIHIfIb Co63loAeHHe npaBHJI H HHCTpyKtHM.

5.8

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OnaCHOCTb ARAX 43HHaHCOBOl CHCTeMmI. OCHOBHmIe HeAOCTaTKH cyMeCTByioIIef CHCTeMEI CBX3aHbI C TeM, YTO c1l4HaHCOBbIe oTYeTbI He AaEOT BKjiaAqHKaM, aKgHOHePaM TPeTbHM nm4iaM TORHOR KapTHHLI Ae1iTeJIbHOCTH 6aHKa, ero rIiaTe)Kecnoco6HocTH, UpH6bITMHoCTM 6aHKOB H JIHKBHXHOCTH H He MOryT CJIY)KHTh HaAeKXHbIM 9OKa3aTej3bCTBOM COOTBeTCTBHA

KPHTepHAM 6naropa3yMHoro Be,reHHM Aen. 5.9

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(MeCTHmix) 6yxraJITepcKoro yYeTa H ayAHTa AxII HHOCTpaHHMIX H HaIMIOHaji6HIX BHyTpeHHeIk HHBeCTOPOB, KpeXHTHbIX yqpe)KXeHHfi, rOCyAapCTBeHHbIX BeAOMCTB H BCefl

yqeTa 4jHHaHCOBOH CHCTeMbI. IlepBbIM iiarom B HanpaBneHHH pe43OpMbI 6yxraJTepcKoro 6binio nplHTHe B geKa6pe 1991 r. HOBOrO rIojIO)KceHHA 0 npHHHnaX H CHCTeMaX 6yxraJiTepCKoro yqeTa, COOTBeTCTByiOlTTerO riiaHy CqeTOB. BBe,AeHHe HOBOfi CHCTeMbI 6yxranTePCKoro yqeTa B 6aHKax OCYlueCTBJLeTCA B qeTbIpe 9Taria: CyUeCTBYIOUlaA CHCTeMa IIPHBOXITCA B COOTBeTCTBHe C Meex1yHapo,iHof

IIpaKTHKOf4 C TOYKH 3peHHI o6i1Hx

pIHHUHrioB H oTpax(eHHA.

47 *

Pa3ocnaH6I HHCTpyKItHH, paTxcHmioawe nepBoHaqaimHLie niarH c tenfb1o IIpHBe,geHHA 4)HHaHCOBBIX OTqeTOB B COOTBeTCTBHe C HOBbIMH HOpMaMH K 31 eieKa6ps 1992.

*

Pa3pa6oTaH rpOeKT HOBOro nIIaHa CqeTOB H n1OgrOTOBneHMI ro[po6iHmIe meTOxH,>ecKHe yKa3aHsA, KOTOpEbIe nO3BOJRIT BBeCTH HOBOe Ino)oeHHe B CHJIY He nlO3,gHee 1 AHBapA 1994 r.

*

B TeqeHHe nocneiyiuoHx xByx--Tpex neT 6yAeT

InpoBegeHa KopeHHaA pe4popMa cHCTeMbI 6yxrajrTepcKoro yqeTa. 3aTparHuBa1OI1Was BOnPOCL 4)HHaHCOBOH oTqeTHoCTH, HpaBOBOH oTqeTHoCTH H CTaTHCTHqeCKoH oTqeTHOCTH.

5.10

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6yxranTepcKoro

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HCTHHHYIO H CrpaBegJTHBYIO oixeHKy CTOHMOCTH 6anaHCOBMIx aKTHBOB H OTBeqaTm Mexg)yHapOgUHbIM Tpe6oBaHHAM noC3iegOBaTe3bHOCTH, OCTOpOKHOCTH (B3BeMeHHocM) H nhIaTe)Kecnoco6HoCTM. rIpegnonaraeMbIx 3aKOH 6yxeT TaKxce HaIeJieH Ha TO, qTo6ibr * *

CO3AaTm CHbHbIHe peryxBHEIe H KOHCyjThTaTHBHMIe opraHH3aIjH. CO3AaTb

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5.11

rlpo4eccAs ayAHTopa B PoccHH geenaeT nepBmIe inar1 B CBoeM pa3BHTHH. IlenLIA pAA aygHTopcKHx 4)yHK=HA BHacrosAgee BpeMS OCyi1eCTBJAeTCA pAgOM YHO3THOMOqeHHLIX pOCCHHCKHX 4bHpM a TaKiKe HeKOTOPbIMH HaH6onee nPH3HaHHLIMH meyHapo,HbMH 6yxrajrTepcKHMH bHpMaMH. 06beM H KaqeCTBO BbffoiHAeMofI HMH pa6omI HeOArHHaKOBbI H, B LxefOM, 3HaqHTeRBHO HHCe Mex<AyHapoxHbIx Tpe6oBaHHfi, npeAYBIAmeMLIX K 6YXraITePCKOMY yU'eTy H oTqeTHocT. B HacTosAiiee BpeMS HepeaibHo 6Imo 6b oxaTL npOBeeAeHiA ayxHTOPCKHX r1POBePOK B nOJTHOM COOTBeTCTBHH C meyHapogHbIMH HOPMaMH, nOCKOJThKY BHeUIHHH ay,ffT npeACTaBnMeT CO6o0 HOBOe AieHHe ARAM POCCNNH ,JAero BHegpeHIA He XBaTaeT nOXrOTOBjieHHbIX KagpOB.

5.12

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48 HoBOro niiaHa CqeTOB, COOTBeTCTBYJOiuero MexKyHapORHbIM HOPMaM 6yxraJrrepcKoro yqeTa H aygHTa. *

Pa3pa6oTKy KPHTepHeB cepTH4KaH MOjiOIX CneiwajCTOB KOMIIeTeHTHLIM COBeTOM rno 6yxrajiTepcKoMy yIeTy m ayAHTOpCKHM nlpOBepKaM; pa3pa6oTKa yqe6Horo Kypca no 6yxrajrTepcKOMY yteTy AIii CpeAHHX ilKOn, HHCTHTYTOB H YHHBepCHTeTOB.

*

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5.13

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B

1991

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nIpHHyAHTemjiHLix Mep BeCbMa orpaHHqeHLI. PacmHpeHHe B03MOxKHOCTek UeHTpamHoro

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5.16

B Ta6ft1e 5.1 IIPIHBOAHTCS KpaTKoe orHcaHHe

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5.17 CneAyeT H3MeHHTb HeKoTopbIe rIpaBHjia, KacaIgecA Bcefk 6aHKoBcKof cHcTeMbI, BKJ1O'qaA H 6am , He AiBjmIoHecS BMC. UeHTpanmHbi 6aHK AoJIKeH

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5.18 Ilocne iIpHHSTHA peiueHHs o6 ocyrIecTBwieHHH IporpaMMbI BMC IUeHTpanbHbIH 6aHK AonaxeH 6yxeT pa3pa6OTaTh H BbIryCTHTH "iiDaBHjTa 6garoDawvMAr" AJJ TaKHX 6aHKoB (CM. rniaBy 3). genecoo6pa3Ho ripegycmoTpeTb nocTeneHHoe IOBbIiueHHe ypOBHA

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B KpaTKoCpowHot H cpexAHecpoqHo4

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50

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0.05 1/15

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0.20

0.30

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0.75 0.50

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5.20

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5.22

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5.23

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52 H rIOXrOTOBKH npOrpaMMbI LuHpoKoMaCInTa6HhIe OpraHH3OBaTb nepeIoArOTOBKH B o6JIaCTH 6aHKOBCKOrO ynpaBneHHs, MapKeTHHra H npeAoCTaBJIeHH 6aHKOBCKHX ycjiyr, yripaBJIeHHq piCKOM, o6ecneqeHHR (bHHaHCOBOH cra6HJIbHOCTH

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5.25

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B CO3,aHa MOCKOBCKaA 6aHKOBCKaSi iuKonia. B psAAe pOCCHiHCKHX ropoAoB nPHHHMaEOTCA MacElTa6e H ApyrRe KOHKpeTHbIe Mepbi.

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5.29

Eiie OAHOA 4)OpMOH OpraHH3MaHH o6ygeHH5 6aHKOBCKHX pa6oTHmKOB a

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yKpen.eHIGH CTpYKTYPbI pOCCHHICKHX 6aHKOB MoXCT ABHTbC31 nporpamma yCTaHOBjieHHA IapTHepCKiHX OTHOIueHHII MeXCXy POCCHHCKHMH H BeXYIUHMH 3apy6eXHHbIMH 6aHKaM4. B COOTBeTCTBHH C 9TOEI rpOrpaMMofl, npegCTaBHTeJIH 3apy6exKHbIx 6aHKOB 6yAyT KOHCYJThTHpOBaTb CBOHX POCC1HCKHX raPTHepOB HO BOnpOCaM cTpaTerHqecKoro IIaHHPOBaHHM H OpraHM3aduH pa6oTbI. rpH 9TOM OHH 6yAyT ytaCTBOBaTb B riOBCeaHeBHOH ynpaBjieHxieCKOHf AeSTeJIbHOCTH pOCCHHCKHX 6aHKOB C TeM, qTO6bI pOCCHHCKHe KoJIJTerH MorJiH nepeHHMaTb HX oriTIT. B nopAgKe KOMieHcaWHH 3a 9TH yCJIyrH HHOCTpaHHbie 6aHKH MOriiH 6bi flOJIyqaT6 .H60 onpegeieHHoe B03HarpaxKceHHe, 11H60 xOjIo B KarIHTaIie pOCCHAICKOrO 6aHKa-napTHepa. TaKaA nporpamma OCy-lmeCTBJiAeTCA B flonnme C nOMOaTbEO KpeAX4Ta BCeMHPHOrO 6aHKa. PacqeTHaM CHcTeMa

5.30

PactieTHaq CHCTeMa npegCTaBJi5eT co6ofi MexaHH3M, c rOMomo

Io KOTOporo

o6A3aTenbCTBa, B03HHKaIOiuAme B pe3yJIbTaTe 3KOHOMHqeCKOf4 reATeJIbHOCTH, nOraInaxOTCA nyTeM nepeBoxAa AeHe)KHbIX cpeACTB. HaCTOAIIUHfI pa3gxen BbIAeSjieT Ty o6nacTb pacieTHoH CHCTeMbI, KOTOpa5 CBA3aHa c HCnOJnb3OBaHHeM 6aHKOBCKHX greno3HToB. PaceTHasA CHCTeMa 944eKTHBHa B cnyiae, Korga KJIHPHHr, npouecc nepeAatiw ninaTeXHHoR RHH4opMaamH,

OCyI1teCTBJIAeTCS 6bICTpO H HageXHO. 14 Korxa OKOHqaTeJIbHbIlf paCqeT, T.e. ()aKTHqeCKHfl nepeBOA UeHHOCTeH, OCyWeCTBj1SeTCI B qeTKO yCTaHOBJIeHHbIe CpOKH, B HY)KHOM o6fteMe H nO Ha3HaqeHHIO.

5.31

CyigeCTByioiUaA B POCCHH4 CHCTeMa paCqeTOB npHCHOCo6JIeHa K HyxcAaM ileHTpanIH3OBaHHOfi rIiaHOBOH 9KOHOMHKH. OHa He MOxceT YXOBjJeTBOpHTeJIbHO peiiHTb npO6JieMy teTKOCTH4 Hi 6bICTpOTbI COBepiueHHA pacqeTOB, qTO ipe3BbIxiaHO Ba)KHO B

YCJIOBHMX pbIHOqHOfi 3KOHOMH4KI4. jaHHaM CHCTeMa TaK)Ke He B COCTOSHHH CnpaBHTbCA C pe3KHM yBeJIHteHHCM o6ibeMa A,eHeXKHbIX onepaHi4l, xapaKTepH , UM nepexo;xHoro nep4o;xoa. BOJIbIlaSI qaCTb nJIaTeKeH OCYIyiieCTBnIeTCSAepe3 UeHTpaJibHbIfI 6aHK, KOTOPblA HMeeT CeT16 H3 1400 pacqeTHO-KaccoBbIx LeHTPOB (PK1I). KaxcAbIfl 4HJIHaJi KOMMept1eCKOrO 6aHKa HMeeT CqeT B MeCTHOM PKU. OriepalHH c nOTpe6HTeJIsMH H npegripHATHSMH pO3HHqHOft TOprOBJIll 06b'qHO OCyIteCTBJI5AOTCX c HCnOJTb3OBaHHeM HanjHqHbIX AeHer, B TO BpeMA, KaK paCqeTbi ripegnpHATHf H rocygapCTBa B OCHOBHOM OCyLUeCTBJ1IlOTCM

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54 cyigecTBy1ouiefi 6aHK irpaeT BaXCHYIO pOJIB B peopraHM3auiH IleHTpanBHbIH KjIHpHHrOBOfi cHcTeMbI. BBeAeHa HOBaS copMa teKOB H OTMeHeHa CHCTeMa rniaTexHbIx Tpe6OBaHHf. CHCTeMa PaCteTOB B paMKax oxHoro ropoAa yJiyqIHHJIacB, OcO6eHHO B cJIywasx KPYflHbIX pacqeTOB rIo MOCKBe. TeM He MeHee, OCyjgeCTBJIeHHe pacqeTOB MerK 3aAepXKKoH. BBeAeHa HOBaS ropoAaMH rio-npeXKHeMy ocylgecTBJimeTCs C 60JIBUIII cTaHAapTHas c1opMa nnaTe)KHoro riopyIeHHA H nepecMaTPHBaeTCS 3aKOH O HniaTe)Kax.

5.32

5.33

OAHOfIH3 KiiiOqeBbIX npo6neM B pa3BHTHH CHCTeMBI niaTexKef MBimeTCA

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5.34

paCqeTHiM iLeHTpaM, H He 3aBHceTh OT UIeHTpanbHoro 6aHKa. HeKoTophle ropoAa nbITalOTCA IIOCTpOHTb CBOH Co6cTBeHHbie HpHBA3aHHOfI

K MeCTHbIM H perHOHaBjbHBIM

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5.35

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KOOPAHHaHUHH Pa3BHTHA CHCTeMbI paCqeTOB H pa3pa6OTKH CTaHAaPTOB. B COCTaB FPK BO4AyT 25--30 qeJIOBeK, H3 KOTOPIX 10 6yAyT nPeAJCTaBJIATb OTAeJIfbI [UeHTpajnHoro 6aHKa, a OcTaJIbHbie -- KOMMepiecKHe 6aHKH, accolHaL4HH KOMMepteCKHX 6aHKOB, B HerO TaKxce BOMYT rHHOCTpaHHbIe 9KCnePTBI H3 MBD, BceMHpHoro 6aHKa, ,UpyrHX meyHapOgHbIX opraHH3agH4 H ueHTpanJbHbIX 6aHKOB 3arTa,HbIX CTpaH. IUeHTpaJbHbIH 6aHK onpexAemjir ILueCTb BOrpOCOB, KOTOpbIe HeO6XOMmO peUHTb ARA C03AaHHA pac'ieTHoH cHCTeMbI: B3aHMHbIH 3ateT Tpe6oBaHHId, CHCTeMa nepeBoAoB KpyrHH6X CYMM, HOBI6e nLJaTeT)KHLIe HHcTpyMeHTbI, BHYTpH6aHKOBCKHe pacqeTbI, pa3BHTHe HH4CHpCmaiHOHHOft cHCTeMbI H npeACTOwT rIOXArOTOBKa KaAPOB. )IjM BLInOJIHeHHS Kax<KOH H3 YKa3aHH]IX 3aAaq

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5.36

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5.37

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5.38

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5.39

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5.40

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5.41

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5.42

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5.44

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5.45

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5.46

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5.47

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5.49

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59

6.

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6.3

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6.11

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6.18

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67

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6.20

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6.21

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IpOAOBO3IbCTBHeM

19. floApo6Has xapaKTepHCTKa ceJILcKOXO3sAfcTBeHHbD( OTpaciret xaeTcq B: "Food and Agricultural Policy Reforms in the Former USSR - Agenda for the Transition", Studies of Economies in Transition, BceMHpHbJk 6aHK (1992).

68

6.22

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pAX H3MeHeHHA. KoJIX03aM H COBX03aM IIpeACTOHT npeBpaTHTbCA B 'aCTHbIe XO3AICTBa, KOOnePaTHBMI nPOH3BOA14TejieH TOBaPHOf nPOWYKUHH HJIH aKuLHOHePHbIe o6LiieCTBa. OKOnO nOJIOBHHbI 9THX XO3XHCTB yKe 3aperCTPHPOBanHCb BKaqeCTBe OAHOH H3 yKa3aHHbIX 43OPM npeAripHATHA, OqHaKO B 60JII.UHHCTBe XO3,qHCTB, nPeBPaTHBIIIHXCA B aKYiOHePHbie o6iuecTBa HJIH KoOriepaTHBbI, OpraHH3a9HOHHbie H3MeHeHH5 6buIH He3HaqHTeJnbHbIMH. CTpyKTypa 9THX X035{HCTB, BHe 3aBHCHMOCTH OT TOrO, 6bInH JTH OHH ()HHaHCOBaA peopraHH3OBaHbI HJIH HeT, CyiiLeCTBeHHO He H3MeHHJIaCb: 60bUIH4HCTBO H3 HHX nonaraeTCA

69

Ha IeieBbIe KpexHTbI, pacnpegeJiLeMbIe qepe3 PoccenbXo36aHK B KaqeCTBe HCTOqHHKa o6opOTHbIX CpeACTB; KanHTaJOBJIO)KeHAS XAeIaIOTCA JIHUIUb B MHHHMaJIbHbIX MaCLuTa6ax.

6.26

THria, a

B 1991

r. HaqajiH nOSBJIASTBcS

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KaK HpaBHJIo, PocceIbXo36aHK H KOMMepqeCKHe 6aHKH 11pegOCTaBJIMIOT KpegHThI HOBbIM qaCTHBIM xo3AeBaM nop, rapaHwrm AKKOP, o6ecrieqeHHbIe CpeACTBaMHi cjoHAa, co3AaHHoro B 1992 r. H3 6ioA)KeTHbIx aCCHrHOBaHHH B o6feMe 6,5 MjipA. py6. HegocTynHocTm xpeAwToB ABjITeTCA peaJThHbIM IInpeSTCTBHeM Ha iiyTH pacLlHpeHHEI qaCTHOro CeKTOpa B CejTbCKOM XO3AHCTBe.

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*

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6.28

PeKOMeHaII1UH. B 6nihxafniieM 6yn;yieM nporpaMMbI iyeJieBoro KpeXHTOBaHHS

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6.30

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71

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6.33

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MHOrHe

74

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