Global And National Trends In Supervision Requirements For Financial Institutions

Abstract

The article reveals the process of formation and development of international institutions of regulation and supervision of credit and other financial organizations in accordance with the acts of the Basel Committee on Banking Supervision (BCBS). The results of the development of the banking system are reflected in line with the implementation of the principles and directives of BCBS. The authors note that the importance of both international risk management standards and the supervisory requirements of BCBS is that no large financial institution, regardless of nationality (including Russia). The purpose of stress testing is also revealed in identifying unlikely large potential losses in stressful conditions, when normal market conditions stop working. It is shown that in Russia, the tendency to centralization in the system of state regulation will continue both in the short and long term – including the regulation and supervision of the activities of financial organizations. The authors believe that the greater the centralization of functional component in a system, the more catastrophic systemic risk caused by the actions of the banking system regulator. In modern Russia it is applied to the entire financial system. Many countries demonstrate the magnitude of the manifested systemic risks and their consequences for an individual, organization and territorial entity. It is proposed to revise the policy of accelerated implementation of the requirements of international financial institutions with the strengthening of the legal framework for protecting the interests of Russian financial organizations in Russian and international financial markets.