Deposit insurance agency and Russias banking system improvement
Development of the banking system recently occurs in the conditions of the world financial system crisis. This circumstance was reflected in methods of regulation of banking activities and, first of all, in methods of legal regulation. The taken measures were directed at easing the process of overcoming the crisis, at creation of the mode allowing providing preservation of solvency and liquidity of commercial banks at a necessary level to maintain the stability of the banking system. In this connection, the governments of many countries activated the works on creation or modernization of mechanisms of national banking systems promoting maintenance and effective protection of interests of bank investors who start to experience difficulties or go bankrupt. When the system of deposit insurance appeared, the cases of mass simultaneous deposits withdrawals in banks because of the fear of banks bankruptcy were rare. However, the situation which has developed in the world during the recession when many banks were at the edge of bankruptcy showed in all countries that worldwide deposit insurance systems have no accurate internationally recognized reference points, which would help estimate their efficiency. In the article the author's position consisting in the necessity of definition of functions and powers concerning the actions of banks-participants, deposit insurance agencies and the Bank of Russia is presented and given reason at carrying out of reorganisation and financial improvement of banks. The aims set before the deposit insurance system define functions and powers of the body controlling the system - the deposit insurer. The system of deposit insurance can deal with a limited number of simultaneous bank bankruptcies, but cannot independently resolve the system bank crisis. For this purpose active intervention of supervising and regulating bodies is necessary. The success of the insurer of deposits at settlement of bankrupt establishments with the least costs depends on its powers and the problem nature. Transfer of the turnaround manager function to the deposit insurance agency is an important constructive element of the deposit insurance system in Russia. That has in turn revealed a number of problems connected with, first, mutual relations between the agency and the regulation and supervision body - the Central Bank, second, performing the supervising function over the activities of banks, third, timely informing the agency on the financial condition of banks, regulation of information streams. On the basis of the conducted research, the author has come to a conclusion that at the given stage to take away the Central Bank's supervision function and to assign it to the deposit insurance agency completely is impossible, since it is the mechanism which has long been settled and it can lead to a collapse in the banking system. Transfer of a part of the corresponding powers by the Bank of Russia downwards will definitely not add stability to the banking system. Therefore the de posit insurance agency is gradually becoming the most active and effective participant of the supervision mechanism over the commercial banks activities.