Abstract
The author considers the problems of banking regulation in the context of globalization. An analysis of relevant issues indicates the need to improve financial technologies for banking regulation. Basel innovations, designed to ensure the stability and uninterrupted operation of the global banking system, have led to the creation of counter-innovations by the banking sector. Basel Accords led to the development of the so-called “regulatory rally”, when increasingly sophisticated methods of regulation gave rise to increasingly inventive ways to protect the gains of the banking business. These ways sometimes became an indirect source of rising risks, and were initially taken as effective protection against these risks. The author analyzes the main advantages and disadvantages of the latest Basel Accords on Banking Supervision (Basel III) and identifies specific directions for its improvement, taking into account current practices of national and international approaches to regulating the activities of credit organizations 10 years after the global financial and banking crisis. The importance of the study is determined by the need to develop financial technologies for international banking regulations, as well as theoretical and methodological approaches that determine the interconnectedness and interdependence of financial markets. It is also important to evaluate the effectiveness of measures to regulate the activities of financial and credit institutions at the national and international levels to develop strategies and tactics for the optimal progressive development of financial markets. The purpose of the study is to develop theoretical and methodological approaches to assessing the impact of international standards on activities of Russian credit organizations.
Highlights
The global financial and economic crisis of 2007-2009 drew particular attention to exposure of the banking sector to systemic risk, which undermines the stability of financial markets
In the course of transition of the domestic banking system to international accounting standards, implementation of the recommendations of Basel Accords (Basel II and Basel III), Russia's accession to the World Trade Organization (WTO), the most urgent task was to provide banking management with analytical information reflecting the influence of various factors on the stability of financial markets
Despite the fact that recommendations of Basel III were aimed at solving the above problems, a number of issues remain relevant for finding optimal solutions
Summary
The global financial and economic crisis of 2007-2009 drew particular attention to exposure of the banking sector to systemic risk, which undermines the stability of financial markets. The changes in world financial markets in recent years, such as increased competition, globalization, new information technologies, new high-tech and structured banking products have lead to increased risks. For Russian commercial banks, most of which are still inferior to leading foreign financial and credit institutions in terms of the size of the banking business, the solution of problems ensuring their financial stability is especially relevant. The constantly changing market environment, the volatility of market conditions, the place and role of banks in the economy, as well as the insufficient knowledge of the issues of financial stability of banks in the globalized economy, indicate the relevance of the issues raised. An analysis of the opportunities for banks to reduce risks and ensure stable returns in the post-crisis period determines the relevance of the issues raised
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