Types of banking systems. Central bank. Network of commercial banks

Successful development of the national economy requires an effective banking system in the country. There are many ways to build it. But to begin with, the country's leadership will have to decide what type of banking system it is supposed to develop. On which landmarks in this case can the state pay attention?

What is a banking system?

Before we investigate the grounds on which the banking system can be classified (types, structure of each model), we will determine the essence of the term in question. What are the common approaches of researchers to the disclosure of the corresponding concept?

In the Russian expert environment, the banking system is most often understood as the medium of interaction between the state, various institutions and organizations, individuals and legal entities, in which legal operations with money and financial assets are carried out. These communications can occur through a variety of mechanisms. The banking system is a financial institution that is an integral part of a country's national economy.

The essence of the marked communications with the participation of the state, legal entities and individuals is largely determined by the type of banking system. We will study what they can be.

Classification of banking systems

There are many grounds for classifying banking systems. In Russian practice, the concept that the relevant financial institutions can be represented in the following main types has become widespread:

- distributive (or one-level) system;

- transition system;

- market (or two-level) system.

Let's study their specifics in more detail.

Single-level system

The noted types of banking systems presuppose, therefore, the allocation of single-level financial institutions.

Their specificity lies in the existence of horizontal communications between credit institutions, the implementation of capital management operations on the basis of universal standards and norms. The noted type of banking system is typical mainly for countries with underdeveloped economies, as well as for countries in which administrative methods of managing the economic system are practiced.

Two-level system

The concept under consideration, within the framework of which various types of banking systems are defined, also implies the allocation of two-tier financial institutions.

Within the framework of the latest communications between credit institutions are carried out both in the horizontal and in the vertical plane. Concerning the second mechanism, interaction between the Central Bank - a key financial structure in the state - and lower banks is meant. Within the framework of a horizontal mechanism, communication is established between peers in the aspect of legal status by credit institutions. The role of the Central Bank in a two-tier system is to ensure the liquidity of accountable financial structures, as well as in the implementation of macroeconomic regulation.

The Soviet model of the organization of the banking system

The types of banking systems we reviewed above do not fully correlate with the corresponding financial institution that existed in the Soviet era - due to the fact that it has a number of unique characteristics. In what way is this expressed? Above we noted that a single-level banking system assumes a single mechanism of communication between individual credit institutions - horizontally. The two-tier assumes that the Central Bank is also connected to the process of interaction of financial structures.

Speaking of the Soviet model, one can not say that it is fully characterized by signs of the first or second type of systems. The fact is that the banks in the USSR worked in conditions of pronounced centralization and strict submission to the State Bank. That is, no horizontal communication between them almost did not happen. In turn, any criteria that make it possible to distinguish two levels of interaction between financial institutions in the USSR are also difficult to detect. The fact is that the State Bank was part of a single national banking system, and its role, like the one that the Central Bank of Russia is doing now, was not limited to liquidity maintenance and regulation. Its functions were expressed in fact in providing the full range of banking services provided by law through a network of subordinated regional banks.

At the same time, some researchers are nevertheless inclined to attribute the Soviet model of the organization of work of credit and financial organizations to the one-level type. What is the argument of experts in this regard? The fact is that the State Bank of the USSR, possessing a monopoly on virtually all types of banking services, in fact, became the "single level" of capital transactions. There are researchers who classify the credit and financial system of the USSR and other states, for which the administrative model of economic management is characteristic, as a separate type - centralized.

Transition system

What are the characteristics of a transitional banking system? It can trace communications that are characteristic, both for a single-level variety of financial institutions, and for a two-tiered one. In the first case, there may be a question of the presence in the state of banks that, in terms of turnover, occupy a significant share in the entire national credit and financial system and at the same time retain a pronounced independence from the Central Bank in terms of implementing financial policies, promoting the market, and determining development priorities. On the other hand, the banking system of the country may have institutions that, in turn, are directly accountable to the Central Bank and retain their sovereignty within the limits established by law.

The modern banking system of the Russian Federation

So, we examined the main types of banking systems within the framework of concepts that have become widespread among modern researchers. Speaking about modern financial institutions in Russia, how can they be classified?

For most of the features, the banking system of the Russian Federation is two-tier. It practically does not operate financial institutions, which are not accountable to the Central Bank. In turn, the banking system of the Russian Federation assumes the functioning of a large number of credit institutions that actively interact with each other in a horizontal plane. The Central Bank of the Russian Federation exercises both emission and regulatory functions. It provides banks with liquidity by providing them with loans in accordance with a key rate.

At the same time, some researchers believe that the type of the Russian banking system is now mixed. But not in terms of combining the features of a single-level and two-level models, but in the aspect of the presence of certain features that are characteristic of the centralized Soviet system of organization of the corresponding financial institution. Experts argue this view by the fact that the leading banks in Russia are state-owned banks. These include Sberbank, VTB, Rosselkhozbank. This predetermines the fact that the state, like the State Bank of the USSR, actually keeps the national credit and financial system under control. In turn, the Russian Federation has quite developed a banking system of market type, suggesting that in the corresponding segment of commercial activities there will be a large number of players interacting horizontally. This feature is characteristic of a two-tier model.

Note that before the USSR - in the times of the Russian Empire - in our country there was also a sufficiently developed banking system. It was characterized, according to many researchers, by a very effective interaction of state and private financial structures. According to some experts, the historical experience of those years is to some extent applicable to modern Russia.

international experience

Having studied the basic principles on which the banks and the banking system of the Russian Federation operate, let us consider the most noteworthy facts concerning the work of the relevant financial institution in foreign countries. It will be especially useful to draw attention to the experience of the advanced Western economies. The development of the banking system of Russia is carried out within the framework of the capitalist model. Obviously, the experience of Western states in this sense is incomparably greater.

Approaches to determining the role of banks

Among the most notable trends characterizing modern banking in Western countries is a rethinking of approaches to understanding the role of banks in the national economy. The matter is that in the western countries classical credit and financial organizations are not the only players in the relevant market segment. It is planned to strengthen the role and significance for the national economy of non-banking organizations. These structures can carry out activities that are to a certain extent close to that characteristic of classical banks: for example, to provide services for accepting payments, to facilitate the implementation of cash settlement operations. At the same time, the work of such structures may not require a license from the Central Bank and is not subject to strict scrutiny in such a case for compliance with financial legislation, which is practiced by the supervisory authorities with respect to banks.

Of course, such organizations are already actively operating in Russia. These include primarily electronic payment systems, as well as microcredit organizations. Indeed, they can not be ranked among banks, but at the same time they can provide services that are characteristic for classical financial institutions. According to some researchers, the specifics of the activity of EPS, microfinance organizations and other non-banking structures in Russia is that the legislator seeks to unify the provisions that regulate the activities of the structures of the type in question and classical banks. What is the argument of experts who adhere to this point of view? Thus, the researchers believe that the Law "On the electronic payment system" just the same presupposes a marked unification of regulatory standards. For example, regarding the identification of the consumer of the relevant services. If in the first years of the operation of EPS in Russia for a full-fledged use of electronic payment services in Russia, a person did not have to prove his identity, then from the moment of passing the law in question, such a need arose.

In turn, in the West, the role of the banking system, as some analysts point out, is considered somewhat in a different context. EPS and other players not belonging to the category of classical financial institutions should, in accordance with one of the popular concepts, have to occupy a separate niche that is not directly related to the banking. But what criteria can underlie the separation of the two segments?

Thus, according to researchers, banks and the banking system are called upon to perform the following range of functions:

- Depository services for individuals and legal entities with a full guarantee of capital safety;

- organization for businesses of cash management operations with all the signs of legal significance;

- provision of "long" loans (mortgages, loans for entrepreneurs).

In turn, non-banking structures should, in accordance with one of the popular concepts, concentrate on the following activities:

- providing fast and reliable money transfers, accepting payments for private and public services;

- Provision of a technological infrastructure for paying for tickets for various modes of transport;

- provision of "short" loans (mainly those that are classified as microcredits);

- Promoting the effective operation of online stores.

These are the key principles that reflect the distinction between the role of traditional credit and financial institutions and non-banking organizations in Western countries. To what extent is this concept compatible with the Russian practice of financial communications? According to some experts, the key principles discussed above are quite suitable for the Russian Federation. The most important thing is for the legislator to ensure the proper level of support for the activities of market players in the relevant services.

Commercial and investment banks

In many Western countries, banks are delineated (and this is another possible basis for classifying the corresponding systems) for those that perform credit and financial functions, and those that practice mainly investment activities (related to the purchase and sale of shares, securities, and so on Etc.). So, for example, in the US it is actually two different types of organizations. The situation is similar in Japan. In Russia, there is a practice in which a single brand can form units responsible for both banking and investment activities. For example, in the structure of the holding VTB there are structures "VTB24" and "VTB Capital". The first is engaged in banking, the second - just the same as investment activities.

Role of the Central Bank

Features of the work of the National Banking System are largely determined by the specifics of the Central Bank's activities, its role in the state economy. What are the approaches to its understanding in developed capitalist economies?

There are states in which the Central Bank is the sole regulator of the national financial system. Among them - Australia, Ireland, Italy. In some countries, the Central Bank divides the function with other organizations - a similar practice has developed in the US, Germany, France. Among the most interesting models of the organization of the national banking system is the American one.

Thus, in the structure of the corresponding financial institution in the United States there are actually four types of institutions:

- National credit organizations ;

- state banks that are part of the Federal Reserve System;

- banks that are not part of the FRS, but are affiliated with the Federal Deposit Insurance Corporation;

- credit structures that do not interact with the organizations mentioned.

The Fed in this case is an analogue of the Central Bank, which performs emission functions and maintains liquidity. However, credit institutions that are not connected with the activities of the Federal Reserve System can also operate in the United States.

Prospects for the development of the banking system of the Russian Federation

So, we studied the concept and types of banking systems. Which of the development concepts of the relevant financial institution is best for Russia? The answer to this question involves a complex analysis of economic, social, and in many ways also cultural and historical factors that characterize the specific development of the Russian Federation as a state. According to many researchers, the problems of the Russian banking system, which are observed now, in particular, the relatively high interest on loans, the relatively high dependence of Russian financial institutions on foreign loans, are predetermined just because many Western standards are being introduced into banking practice in the Russian Federation Without taking into account the national specifics of communications between the state, business and citizens in this field.

In this regard, many experts consider it useful to explore not only the experience of Western countries in the development of the corresponding financial institution, but also the historical models of the functioning of credit institutions in Russia. Moreover, as we noted above, they existed over long periods and were characterized, according to a number of researchers, by a high degree of development. Thus, the historical types of banking systems functioning in Russia and their characteristics can become no less significant source of experience in terms of improving the current model of state management of national capital.