Components of Financial Stability of Credit Institutions: A New Perspective and New Horizons

The article discloses a financial model characterizing the stability of credit institutions. In addition to the traditional quantitative indicators of the bank's activities, such as capital, assets, profit of the credit institution and others, relative indicators are of particular importance for assessing the effectiveness of banking activities. It is necessary to evaluate both quantitative and qualitative indicators of the activity of credit institutions, the synergy of which will enable them to identify the components of financial soundness and their assessment. An assessment of the financial stability of an individual credit institution is possible only based on the results of a comparison with the industry average components of financial stability. Particular attention is paid to such a component of assessing the financial stability of banks, as the effectiveness of the settlement of troubled debts. The authors of the article developed an alternative system for choosing a strategy for resolving the problem debt of credit institutions based on the qualimetric model.The idea and motivation (idea, purpose, motivation)The idea of the analysis is to study the validity and completeness of the hypotheses in accordance with which a study was made of financial stability of credit institutions and its impact on the willingness of customers and investors of banks to place their funds with them, as well as their possible outflow or counteraction to it depending on compliance their market discipline, the level and quality of risk management, as well as the availability of transparent and reliable information about the financial situation

The Ponto-Caspian basin as a final trap for southeastern Scandinavian Ice-Sheet meltwater

This paper provides new data on the evolution of the Caspian Sea and Black Sea from the Last Glacial Maximum until ca. 12 cal kyr BP. We present new analyses (clay mineralogy, grain-size, Nd isotopes and pollen) applied to sediments from the river terraces in the lower Volga, from the middle Caspian Sea and from the western part of the Black Sea. The results show that during the last deglaciation, the Ponto-Caspian basin collected meltwater and fine-grained sediment from the southern margin of the Scandinavian Ice Sheet (SIS) via the Dniepr and Volga Rivers. It induced the deposition of characteristic red-brownish/chocolate-coloured illite-rich sediments (Red Layers in the Black Sea and Chocolate Clays in the Caspian Sea) that originated from the Baltic Shield area according to Nd data. This general evolution, common to both seas was nevertheless differentiated over time due to the specificities of their catchment areas and due to the movement of the southern margin of the SIS. Our results indicate that in the eastern part of the East European Plain, the meltwater from the SIS margin supplied the Caspian Sea during the deglaciation until ∼13.8 cal kyr BP, and possibly from the LGM. That led to the Early Khvalynian transgressive stage(s) and Chocolate Clays deposition in the now-emerged northern flat part of the Caspian Sea (river terraces in the modern lower Volga) and in its middle basin. In the western part of the East European Plain, our results confirm the release of meltwater from the SIS margin into the Black Sea that occurred between 17.2 and 15.7 cal kyr BP, as previously proposed. Indeed, recent findings concerning the evolution of the southern margin of the SIS and the Black Sea, show that during the last deglaciation, occurred a westward release of meltwater into the North Atlantic (between ca. 20 and 16.7 cal kyr BP), and a southward one into the Black Sea (between 17.2 and 15.7 cal kyr BP). After the Red Layers/Chocolate Clays deposition in both seas and until 12 cal kyr BP, smectite became the dominant clay mineral. The East European Plain is clearly identified as the source for smectite in the Caspian Sea sediments. In the Black Sea, smectite originated either from the East European Plain or from the Danube River catchment. Previous studies consider smectite as being only of Anatolian origin. However, our results highlight both, the European source for smectite and the impact of this source on the depositional environment of the Black Sea during considered period

СТРАТЕГИЯ ЦСР 2018-2024 ГГ.: ЛОЗУНГИ, МИФЫ И РЕАЛЬНОСТЬ (ПОЗИЦИЯ ЭКСПЕРТОВ ФИНАНСОВОГО УНИВЕРСИТЕТА)

The paper lays out the position of Financial University experts on the issues set forth in the Development Strategy of Russia for the period of 2018-2024 named “Creating the Future: People, Technology, the State.” This program was prepared by the Center for Strategic Research. The experts at Financial University share the view of the Strategy authors that the increase in productivity, the introduction of new technologies, the modernization of existing industries and opening new advanced productions along with human capital investments, given the efficient state management, are the drivers of the modern economy. At the same time, the paper draws attention to a number of shortcomings and disparities in the Strategy presented.В статье представлена позиция экспертов Финансового университета по вопросам, изложенным в Стратегии развития России на период 2018-2024 гг. «Создавая будущее: люди, технологии, государство». Эта программа подготовлена Центром стратегических разработок. Эксперты Финансового университета разделяют точку зрения авторов Стратегии в том, что повышение производительности труда, внедрение новых технологий, модернизация существующих и открытие новых передовых производств в совокупности с инвестициями в человеческий капитал при эффективном управлении со стороны государства являются драйверами современной экономики. Вместе с тем в статье обращается внимание и на ряд недостатков и противоречий в представленной Стратегии

УСТОЙЧИВОЕ РАЗВИТИЕ РОССИЙСКОЙ ЭКОНОМИКИ: СОВЕРШЕНСТВОВАНИЕ ДЕНЕЖНО-КРЕДИТНОЙ, ВАЛЮТНОЙ И БЮДЖЕТНО-НАЛОГОВОЙ ПОЛИТИКИ

The years-long neglect of the interests of the real economy, particularly the non-oil sector interests, resulted in the formation of a speculative model of the Russian economy where the cash flows are circulating primarily in the financial sector. The current monetary policy that leaves aside the interests of the economic growth, the welfare growth and the employment fits quite well within this model. However, the low inflation cannot be regarded a goal in itself achieved through stifling the economic growth. The current crisis of the Russian economy has exposed the problem of the priority development of the domestic financial sector to the detriment of the real sector and the Russian economy as a whole. The speculative model of the economy developed in the past quarter-century has led to the disintegration of the financial and real sectors of the economy, which neither ensures the financial stability nor promotes the economic growth. Based on the research findings, the paper formulates proposals on how to prevent the “slippage” of the economy into an uncontrollable state and ensure its sustainable development, including the adjustment and coordination of the monetary, foreign exchange (forex) and fiscal policies of Russia.Многолетнее игнорирование интересов реального сектора экономики, особенно его несырьевого сектора, привело к формированию спекулятивной модели российской экономики, в которой денежные потоки циркулируют преимущественно в финансовом секторе. Такой модели соответствует и проводимая денежно-кредитная политика, за рамками которой остаются интересы экономического роста, роста благосостояния населения и его занятости. Вместе с тем достижение низкого уровня инфляции не может являться самоцелью, достигаемой за счет сдерживания экономического роста. Текущий кризис российской экономики обнажил проблемы приоритетного развития отечественного финансового сектора в ущерб интересам реального сектора и российской экономики в целом. Сформированная в прошедшую четверть века спекулятивная модель экономики страны привела к дезинтеграции финансового и реального секторов экономики, что не способствует ни достижению финансовой стабильности, ни обеспечению экономического роста. В статье на основе проведенного исследования сформулированы предложения по предотвращению «сползания» экономики в неуправляемое состояние и обеспечению ее устойчивого развития, включая корректировку и координацию денежно-кредитной, валютной и бюджетно-налоговой политик России