Along with the universally acting commercial banks In Germany there are a number of specialized banks that operate only in certain areas. This group includes mortgage banks and other credit institutions issuing loans secured by real assets, credit institutions with special tasks, banks specializing in installment loans, building savings banks, postal banks, credit institutions for self-help industry and other credit institutions. The diversity of the banking landscape in Germany is especially evident in the fact that more than a quarter of the volume of activity of all credit institutions falls on specialized banks and almost every third large bank With a volume of activity of 5 million marks, Germany is a specialized bank.
In 1993, commercial and specialized banks provided the non-banking sector - enterprises, individuals, state budgets - with a loan in the amount of over 3.5 trillion German marks, of which over 250 billion marks by purchasing government and industrial bonds at their own expense. Commercial banks alone account for almost 80% of the total volume of loans, and in the area of acquisition valuable papers their share exceeds 90%.
How about staging their common economic problem both the size of these credit institutions, and in relation to the volume of their activities and in comparison with the total volume of credit transactions, specialized banks are of great importance.
The main group of specialized banks consists of 30 private mortgage banks, specialized banks for providing loans for land plots and utility loans. They provide
Wohnungsneubaus und Wohnbaumodernisierung sowie fiir gewer- bliche und landwirtschaftliche Investitionen, die durch erstellige Grundpfandrechte gesichert werden. Ihr zweites Hauptgeschaft ist die Gewahrung von Kommunalkrediten. Dies sind Darlehen an den Bund, die Lander und Gemeinden, sonstige KSrperschafteh und Anstalten des offentlichen Rechts. Infolge der steigenden Nachfrage der offentlichen Haushalte nach langerfristigen Finanzierungsmittel hat der Kommunalkredit im letzten Jahrzehnt zunehmend an Bedeutung gewonnen und die Ausleihungen fiir den Wohnungsbau inzwischen deutlich iiberflugelt. Zwei dieser Institute haben sich als Schiffshy-pothekenbanken auf die Finanzierung des Schiffsbaus mit mittel-und langfristigen Krediten spezialisiert. Die erforderlichen Mittel fiir ihre Ausleihungen beschaffen sich die Hypothekenbanken vor allem durch den Absatz von Pfandbriefen und Kommunalobligationen am Kapitalmarkt. Dabei dienen die zu einer besonderen Deckungsmasse zusammengefapten Kommunal- und " Realkredite dem besonderen Schutz der Glaubiger.
Die knapp 10 offentlich-rechtlichen Grundkreditanstalten sind - ebenso wie die privaten Hypothekenbanken - darauf spezialisiert, Real- und Kommumalkredite zu gewahren. Historisch haben sie sich aus den "Landschaften" des 18. Jahrhunderts entwickelt - das waren offentlich-rechtliche Zwangsvereinigungen von Grundbesitzern zur Erlangung billiger Agrarkredite.
Die mehr als 30 privaten und offentlich - rechtlichen Bausparkassen befassen sich mit der Finanzierung von Eigenheimen und Eigentumswohnungen nach dem Prinzip des Sparerkollektivs. Dabei liegt die Attraktivitat des Bausparens hauptsachlich in dem durch Ansparen erwor- benen Anrecht auf die Inanspruchnahme eines Baukredits zu einem verhaltnismaPig niedrigen und iiber die Laufzeit festen Zinssatz. Die Spar- leistungen werden bis zu einer Einkommenshohe mit einer staatlichen Bausparpramie (derzeit 10%) begiinstigt oder sind (im Rahmen gewisser Hochstbetrage) bei der Einkommenssteuer abzugsfahig.
Bei den rd. 30 Burgschaftsbanken und Kreditgarantiegemeinschaften handelt es sich um Selbshilfeeinrichtungen der mittelstandischen Wirtschaft. Die Hauptaufgabe der seit Mitte der 50er Jahre tatigen Institute besteht darin, die aus der vergleichweise schwachen Finanzkraft resultierenden Wettbewerbsnachteile kleiner und mittlerer Unternehmen abzubauen. Dazu iibernehmen die Kreditgarantiegemein- schaften Ausfallburgschaften fiir Unternehmen in Handwerk, Handel und Industrie, die von den kreditgebenden Banken als vollwertige Sicherheiten angesehen werden.
ut long-term loans for financing housing construction and modernization of residential buildings, as well as for industrial and agricultural investments, which are guaranteed by the issuance of mortgage rights on land plots. Their second main activity is the provision of utility loans. Such loans are issued to the federation, states and municipalities, other corporations and public law institutions. Due to the increased demand of state budgets for long-term financing in the last decade, the importance of utility loans has increasingly increased, and they significantly exceed loans for housing construction. Two credit institutions from this group function as mortgage banks to finance shipbuilding on the basis of medium and long-term loans. These mortgage banks receive the necessary funds for lending through sales (mortgage sheets and bonds utility loan on the capital market. At the same time, utility loans and mortgage loans, combined into one debt security, guarantee special protection for the creditor of the debt obligation.
Approximately 10 public mortgage lending institutions, as well as private mortgage banks, specialize in providing mortgage and utility loans. Historically, these credit institutions originate in the “landscapes” of the 18th century, when they were social and legal compulsory associations of landowners with the aim of obtaining cheap agricultural loans.
More than 30 private and public savings banks that issue loans for individual construction operate in the field of financing their own houses and apartments on the principle of collective accumulation of savings. The attractiveness of accumulating funds for housing construction lies primarily in the right, acquired on the basis of accumulation of funds, to receive a loan for housing construction with a relatively low and firm interest rate for the entire term of the loan. Contributions paid by the depositor to the savings bank, up to a certain level of income, are encouraged by government bonuses (currently 10%), or these contributions (within certain limits maximum amounts) are not subject to income tax.
About 30 guarantee banks and credit guarantee societies are self-help institutions for medium-sized enterprises. These institutions have existed since the early 50s; their main task is to eliminate the unfavorable conditions for small and medium-sized enterprises arising from the comparatively weak financial strength these enterprises. In addition, credit guarantee companies provide guarantees in case of damage to
Den beiden Wertpapiersammelbanken obliegt die rationelle Abwicklung des Effektengeschafts. Dazu unterhalten sie fiir die ihnen angeschlossenen Kreditinstitute Sammelbestande in den verschiedenen Wertpapierarten und wickeln den Effektengiroverkehr (stiicklose Wertpapierlieferung) ab.
Anfang 1990 hat die Postamt ihren Geschaftsbetrieb als Spezialbank fiir standartisierte Finanzdienstleistungen insbesondere in den Bereichen Zahlungsverkehr und Einlagegeschaft aufgenommen. Das offentlich-rechtliche Unternehmen, das weiterhin ein Sonderverm6gen des Bundes bildet, kann mehr als 20.000 Geschaftsstellen in Postamtern nutzen und beschaftigt nahezu 20.000 Personen.
Von den insgesamt knapp 20 Instituten mit Sonderaufgaben - uberwiegend in privater Rechtsform - sind vor allem die AKA Aus- fuhrkredit-GesellschaftmbH und die Kreditanstalt fiir Wiederauf- bau (KfW) zu nennen. Beide Institute finanzieren insbesondere Exporte in Entwicklungslander, die KfW zudem Inlandsinvestitionen in wirtschaftlich benachteiligten und strukturschwachen Gebieten. Die anderen Institute untersttitzen die gewerbliche Wirt- schaftsforderung der offentlichen Hand, fordern den sozialen Wohnungsbau, kleine und mittlere Unternehmen, die Landwirtschaft oder andere Wirtschaftsbereiche.
AUSBLICK
Die deutsche Kreditwirtschaft befindet sich derzeit international in einer vergleichweise gunstigen Lage. Aufgrund der universellen Tatigkeit konnten die deutschen Banken ihr Wachstum in den letzten Jahren auf ertragsstarke Bereiche konzentrieren. Die solide Eigenkapi- talbasis, vorrangig auf Sicherheit ausgerichtete Bilanzierungsgeflogen- heiten und ein strenges Kostenmanagement sorgten zudem zusammen mit dem alles in allem verlafilichen finanziellen Umfeld daftir, dap die Bundesrepublik von den weltweit zu beobachtenden Problemen im Fi - nanzierungssektor verschont blieb.
Der Aufbau eines zweistufigen, wettbewerbsorientierten und an Kundenwtinschen ausgerichteten Bankensystems in Ostdeutschland hat sich als grope Herausforderung fiir die deutsche Kreditwirtschaft erwiesen. Im Gegensatz zu den Sparkassen und genossenschaftlichen Kreditinstituten, die an die uberkommenen Strukturen ankntipfen konnten, mupten die privaten Banken dabei praktisch am Nullpunkt beginnen. Inzwischen haben mehr als 50 Banken unter teilweise auPerst schwierigen raumlichen enterprises in the craft, commercial and industrial fields, which are valuable guarantees for the banks providing the loan.
The two securities custodian banks are tasked with rationally conducting securities trading. To do this, they maintain accumulated reserves in various types of securities in the banks that are part of them and maintain current accounts (unit supply of securities). At the beginning of 1990 commercial activities The Postal Bank began as a specialized company in the field of settlement systems and deposit transactions. This social and legal enterprise, which today represents a special property of the federation, can operate over 20,000 branches at post offices and is an employer for 20,000 people.
Approximately 20 credit institutions engaged in special tasks, mainly operating on a private basis legal form. Among them it is necessary to note AKA Ausfurkredipg-Gesellschaft mbH and the Credit Institution for Reconstruction. Both credit institutions primarily finance exports to developing countries, and the recovery credit institution additionally provides loans for investment in economically stronger regions of Germany or regions with a weak structure. Other lending institutions provide support to government programs, social housing, small and medium-sized enterprises, agriculture or other industrial sectors.
More on the topic SPECIALIZED BANKS:
- Name the main types of banks according to the type of operations performed.
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INSTITUTION "UNIVERSITY "TURAN"
FACULTY OF ECONOMICS
DEPARTMENT OF "FINANCE"
COURSE WORK
in the discipline: "Money, credit, banks"
on the topic: "Specialized banks: concept, characteristics of types"
majoring in Finance
Completed
EFD group student 09 - 13
Bakhtakhunova Sabina Ruslanovna
Scientific director
d.e. Sc., professor
Mukhamedyarova Tamara Talgatovna
Almaty - 2014
Introduction
2.1 Russian bank development
Conclusion
List of used literature
Introduction
Banks (from Italian banco - bench, money changer's shop) are institutions that accumulate funds and savings, provide credit, carry out cash settlements, accounting of bills, issue of money and securities, transactions with gold, foreign currency and other functions. They mediate the movement of loan capital. According to the functions and nature of the operations performed, they are divided into emission, commercial (deposit), investment, export, mortgage, savings and others. Banks serve money turnover and credit relations, issue money, control the economic and financial activities of enterprises.
Despite the unity of the essence of the bank, in practice there are many types of them.
There are, first of all, issuing and commercial banks.
Commercial Bank- is a bank that performs a certain set of basic banking operations, whose sole purpose is to obtain maximum profit. All over the world, commercial banks - the most important link in the banking system - concentrate the bulk of credit resources and carry out a wide range of banking operations and financial services for legal entities and individuals.
According to the nature of the operations performed, universal and specialized commercial banks are distinguished.
Universal banks carry out all or almost all types of banking operations: providing both short-term and long-term loans; operations with securities, accepting deposits of all types, providing all kinds of services.
specialized bank Russian Kazakhstan
In the 18th-20th centuries, banks were created in different countries, the clientele of which was mainly enterprises and their owners. Some of these banks began to specialize in equity participation, buying bonds issued by enterprises or providing long-term loans, refinancing themselves by issuing shares and bonds. Others, on the contrary, specialized in bill discounting, bankers' acceptance, and short-term loans financed from deposit funds. Some were engaged in two types of activities at once, which led most of them to ruin during the crises of the 19th and 20th centuries. It was as a result of these ruins that specialization of banks appeared in some countries.
In some countries, until recently, there were no universal banks, only specialized ones. Their specialization was fixed by law, and banks could specialize in one or more types of banking operations. Countries where the principle of bank specialization has been legislatively approved include the USA, Japan, and Canada.
In some countries, banking legislation prevents or simply prohibits banks from carrying out a wide range of operations. However, banks' profits from certain special operations can be so large that activities in other areas become unnecessary.
The predominance of one type of bank in the credit system of a country should be understood as a trend. In some countries where, for example, universal banks dominate, there are numerous specialized banks. Conversely, in countries where specialized banks dominate, especially in last years, there is an increasing tendency towards universalization. This occurs both as a result of the liberalization of banking legislation in individual countries, and as a result of banks circumventing existing laws.
In modern banking structures It is sometimes difficult to distinguish between the types of universal and specialized banks. Often, for example, large specialized mortgage banks are not limited to just one region, they may have branches abroad and provide hundreds of services to their clients. We can say that in the activities of commercial banks one can often see the features of both a universal and a specialized bank.
1. Concept and features of specialized banks
A commercial bank is a bank that performs a certain set of basic banking operations, the sole purpose of which is to obtain maximum profit.
Commercial banks are divided into 2 types:
universal;
specialized.
Universal - deal with almost all types of credit, settlement and financial transactions related to servicing the business activities of clients.
A specialized bank is a bank that carries out one or more types of banking operations.
There are several specialization criteria:
Functional specialization (innovation, investment, accounting, ship-savings, mortgage, deposit, clearing).
Industry specialization (construction, energy, foreign trade, social development, industrial).
Client specialization (exchange, consumer loan, utilities).
Territorial specialization (regional, interregional, international).
The main criterion for specialization is functional specialization.
Investment and innovation banks specialize in accumulation Money for long periods and providing long-term loans. The form of accumulation of funds is the issue of bond issues.
Accounting and depository banks specialize in short-term attraction of available funds (usually for 3-6 months). In the active operations of these banks, short-term loans and transactions involving the discounting of short-term bills have the largest share.
Mortgage banks (land banks) specialize in issuing long-term loans against real estate pledge(land plots and urban buildings). The resource of mortgage banks is funds raised through the issuance of mortgage bonds.
Savings and loan banks operate by attracting small deposits for a certain period of time. Active operations are dominated by investments in mortgages secured by residential buildings and other securities, as well as lending to the population.
Clearing banks are designed to organize and conduct interbank settlements based on the opening and introduction of clearing accounts.
2. Specialized banks Russian Federation
2.1 Russian Development Bank
An example of all developed market economies shows that the two-tier financial system does not allow solving the problems of long-term financing of the sphere of material production. For this purpose, special credit institutions are being created to provide restructuring of enterprises, financing of projects and programs of national economic significance, and financial support for the creation of a wide range of viable small and medium-sized enterprises. Such financial institutions include national banks development, the main function of which is the implementation of state investment policy, including through securities market instruments.
The “Measures of the Government of the Russian Federation and the Central Bank of the Russian Federation to stabilize the socio-economic situation in the country” provide for financial support for state investment policy based on the Development Budget of the Russian Federation.
In order to accumulate funds and lend to organizations in the real sector of the economy, as well as highly effective investment projects, the Russian Development Bank was created. At the same time, lending was identified as the main direction for using the bank's attracted funds.
In addition, the Russian Development Bank must play a decisive role in recovery and development domestic market valuable papers.
The true purpose of the securities market is not speculation, not covering the budget deficit, but the creation of a financial mechanism for launching private investment, for the survival and renewal of industry. It performs these functions in all countries with developed market relations and in the countries of Eastern Europe.
The main goal of restoring the domestic securities market is to create stock market stimulating economic growth.
It is clear that such a stock market can only arise if a number of macroeconomic conditions are implemented in practice. These include: increased monetization of GDP with its gradual increase and maintenance of moderate inflation, stimulating growth; stimulating investments by domestic and international financial institutions in the real sector; legislative support for the issuance of government project debt securities for specific investment projects while maintaining tax benefits for those of them, the funds from the placement of which are used for capital investments, financing of science and advanced technologies; encouraging long-term foreign investment, including corporate securities.
The list of these measures can be significantly expanded, but these measures, if properly legislated, can ensure the restoration of the Russian stock market and give impetus to its development.
In order for the development bank to satisfactorily fulfill its two main functions - lending to the real sector and supporting the national capital market, it is necessary to take into account the following features when forming it:
The main task of the bank is to finance the real sector of the economy, which is not always a profitable and highly efficient business. Therefore, a development bank cannot be a commercial bank whose activities are carried out only for the purpose of making a profit.
The development bank must have an outstanding reputation in the domestic and international financial markets, which can be facilitated not only by the highest requirements for the professionalism of its management, but also by the conditions that the state will provide it with: state guarantees for obligations, development fund funds can be transferred to the RDB in the form of a subordinated loan , exemption from income tax, subject to reinvestment of all profits received by the bank.
The development bank must act on the securities market both as an investor and as an issuer. As an issuer, the bank must make maximum use of the issue of its own debt securities (which have a high rating due to state guarantees) and place them on both the domestic and international capital markets, thereby expanding its resource base and not being limited by the funds of the development fund.
Following the state interests of returning credit resources and restoring the stock market, the bank must develop services to enterprises in the field of corporate financing: issuing securities for large investment projects, assisting in their placement, and acting as an underwriter.
The Development Bank can contribute more effective management controlling stakes securities that enterprises would provide as collateral for loans received, the restructuring of these enterprises, and monitoring the ownership structure in Russian industry. , .
3. Specialized banks in the Republic of Kazakhstan
3.1 History, mission, vision and strategic goal of Housing Construction Savings Bank
Housing system construction savings is a qualitatively new system of lending for measures to improve the living conditions of the population in Kazakhstan. Kazakhstan is the first country in the CIS to begin implementing the principles and conditions of this system, intended primarily for people with average and lower-average incomes.
year 2000. The introduction of the housing construction savings system in Kazakhstan was initiated by the Law of the Republic of Kazakhstan “On Housing Construction Savings in the Republic of Kazakhstan” dated December 7, 2000. 2003. Based on the Decree of the Government of the Republic of Kazakhstan dated April 16, 2003 No. 364, in order to improve and increase the efficiency of long-term financing of housing construction and the development of a system of housing construction savings, Joint-Stock Company"Housing Construction Savings Bank of Kazakhstan" with 100% state participation in the authorized capital. The founder and shareholder of the Bank was the Government of the Republic of Kazakhstan represented by the Committee of State Property and Privatization of the Ministry of Finance of the Republic of Kazakhstan For the first time, the Bank entered into a cooperation agreement with Kazpost JSC. 2004. On March 19, the message of the President of the Republic of Kazakhstan to the people of Kazakhstan “Towards a competitive Kazakhstan, a competitive economy, a competitive nation” outlined new policy state in the field of housing construction, according to which, in order to comprehensively solve the problems of development of housing construction, ensuring the availability of housing to a wide segment of the population, the President issued a Decree “On the State Program for the Development of Housing Construction in the Republic of Kazakhstan for 2005-2007” dated June 11, 2004 No. 1388. By Decree of the Government of the Republic of Kazakhstan dated June 28, 2004 No. 715, the Action Plan for the implementation of the State Program for the Development of Housing Construction in the Republic of Kazakhstan for 2005-2007 was approved. Law of the Republic of Kazakhstan dated December 13, 2004 No. 11-III tax code of the Republic of Kazakhstan, changes were made according to which deductions from taxable income include amounts aimed at repaying remuneration on housing loans received by an individual resident of the Republic of Kazakhstan in housing construction savings banks for the repair, construction or purchase of a home in the territory of the Republic of Kazakhstan. Development regional structure: 3 branches, 4 representative offices, 1 cash register service. 2005 year. Issuance of the first interim loan according to the Bank's tariff programs. In April, amendments were made to the Law of the Republic of Kazakhstan “On Housing Construction Savings in the Republic of Kazakhstan” to increase the amount of housing construction savings encouraged by the state bonus from 60 to 200 monthly calculation indices. Introduction of new tariff programs “25/75 (state)”, “25/75”, “50/50 A”, “50/50 B”, “50/50 V”. Issuance of the Bank's first loan under the State Program for the Development of Housing Construction in the Republic of Kazakhstan for 2005-2007. In October, the Bank was awarded in the category “For the promotion of innovative ideas in the real estate market” as part of the Exhibition Real Estate exhibition. Obtaining by the Bank a license to conduct banking and other operations carried out by banks in national and foreign currency No. 254 and to engage dealer activities on the securities market without the right to maintain client accounts. Acceptance of Housing Construction Savings Bank of Kazakhstan JSC as a member of Kazakhstanskaya JSC stock Exchange" in categories "B", "K" and "P". Conclusion of a cooperation agreement with JSC Halyk Bank of Kazakhstan. Development of the regional structure: 11 branches, 2 distribution centers. 2006. For the first time, Housing Construction Savings Bank of Kazakhstan JSC achieved the Bank's break-even performance indicator. Signing of an additional Agency Agreement between Housing Construction Savings Bank of Kazakhstan JSC and Kazpost JSC. Under the Agreement, Kazpost JSC provides agency services for concluding contracts on behalf of Housing Construction Savings Bank of Kazakhstan JSC in regional branches and district postal centers. The bank has implemented new program lending "Zhenil". Issuance of the first main housing loan according to tariff programs for Bank clients. Development of regional structure: 15 branches. 2007. Issuance of the first basic housing loan within the framework of the State Housing Development Program for 2005-2007. Assignment to the Bank by the Agency of the Republic of Kazakhstan for Regulation and Supervision financial market And financial organizations status of a financial agency, which gives the Bank the right to participate in the implementation of state investment policy. Receipt of Housing Construction Savings Bank of Kazakhstan JSC as the first Kazakh bank to receive a certificate of compliance with the quality management system ISO 9001: 2000. Introduction of amendments and additions to the Law of the Republic of Kazakhstan “On Housing Construction Savings in the Republic of Kazakhstan”, within the framework of which: the “25/75” accumulation scheme was cancelled; participants in the housing construction savings system were given the opportunity to receive a preliminary loan Introduction of new tariff programs: “Bastau”, “Orken”, “Kemel”, “Bolashak” in accordance with the amendments to the Law of the Republic of Kazakhstan “On Housing Construction Savings in the Republic of Kazakhstan” that have entered into force. Renewal of the General Agreement with Kazakhstan Mortgage Loan Guarantee Fund JSC. Determination of the Bank as one of the operators of the State Housing Construction Program in the Republic of Kazakhstan for 2008-2010. Conclusion of an Agreement on the provision of agency services with Tsesna Bank JSC. The Bank introduced a new service - preliminary housing loan. Issuance of the first preliminary housing loan according to the Bank's tariff programs. Assignment to the Bank by the international rating agency Moody s long-term rating on deposits in national currency"Baa2", short-term rating for deposits in national currency "Prime-2", Bank financial stability rating (BFSR) "E+". The forecast for all ratings is “stable”. Development of the regional structure: 16 branches. 2008. Issuance of the first loan under the State Housing Construction Program in the Republic of Kazakhstan for 2008-2010. year 2009. The beginning of the implementation of the State Program "Nurly Kosh" for 2009 - 2011. Launch of the Program for restructuring the loans of the Bank's clients. Confirmation by Moody rating agency s the Bank's credit rating for long-term and short-term obligations is at the level of Baa3/P-3. Since August 20, the Sole Shareholder of the Bank is JSC National Welfare Fund Samruk-Kazyna. Confirmation by the Certification Association "Russian Register" of support for the Bank's Quality Management System in operation and development in accordance with the international standard ISO 9001: 2008. Beginning of implementation by the Bank of the Balanced Scorecard System. Development of the regional structure: 18 branches. 2010. During a year: Participation of the Bank in the implementation of the State Housing Construction Program in the Republic of Kazakhstan for 2008-2010 (GP 2008-2010); Participation of the Bank in the implementation of the State Program "Nurly-Kosh" for 2009-2011; Participation of the Bank in the implementation of the Program for the development of the construction industry and production building materials RK for 2010 - 2014; Participation of the Bank in the implementation of the Rental Housing Program of JSC "FN "Samruk-Kazyna"; Cooperation of the Bank with private developers for the construction and sale of housing through the housing savings system. Signing by the Bank loan agreement with JSC "National Welfare Fund "Samruk-Kazyna" as part of the implementation of the GP 2008-2010 Confirmation of the quality management system certificate for compliance with ISO 9001: 2008 Establishment by the rating agency Moody s long-term and short-term ratings of the Bank in national currency at the level of Ba1/ Not prime Start of signing with locals executive bodies agreements of intent within the framework of the implementation of the Address of the Head of State to the people of Kazakhstan dated January 29, 2010 "New decade - New economic recovery - New opportunities for Kazakhstan" Improving lending conditions for Bank clients Reorganization of the Bank's organizational structure Opening of Bank Service Centers in Almaty Start of work on the development and implementation of key performance indicators (KPI) in the Bank Reaching the number of housing cooperative participants at 200 thousand people Extension of the validity period of the Program of measures for restructuring loans provided to borrowers of Housing Construction Savings Bank of Kazakhstan JSC Signing cooperation agreements with local executive bodies and the Agency of the Republic of Kazakhstan for Construction and Housing and Communal Services as part of the implementation of the Program for the Development of the Construction Industry and Production of Building Materials in the Republic of Kazakhstan for 2010 - 2014 Achieving Bank assets of 100 billion tenge Development of the regional structure: 18 branches throughout Kazakhstan and 3 service centers in Almaty. 2011. In pursuance of the Decree of the Government of the Republic of Kazakhstan dated March 30, 2011 No. 295, the transfer of rights of ownership and use of a block of shares of the Bank to the Ministry of Finance of the Republic of Kazakhstan. In pursuance of the Decree of the President of the Republic of Kazakhstan dated August 10, 2011 No. 136, in accordance with the Decree of the Government of the Republic of Kazakhstan No. 1224 dated October 23, 2011, in accordance with the procedure established by law, the rights of ownership and use of a block of shares of Housing Construction Savings Bank of Kazakhstan JSC were transferred to the Agency of the Republic of Kazakhstan for Construction and Housing and Communal Services. . Since November 23, 2011, the sole shareholder of the Bank is the Agency of the Republic of Kazakhstan for Construction and Housing and Communal Services. year 2012. During a year: Moody Confirmation Awards and achievements: Assessment by Ernst & Young, based on the results of diagnostics of the system of key indicators of Housing Construction Savings Bank of Kazakhstan JSC, of the high level of development of the system implemented by the bank’s employees. Presentation of the Diploma of the nominee in the nomination “Best Annual Report in the Financial Sector” to the Bank within the framework of the RA Expert competition “Best Annual Reports of 2011”. Bank products: Introduction of a new loan product “Zhenil 2”, which provides for a deferred repayment of 50% of the principal debt. Reducing commissions and interest rates on preliminary and intermediate housing loans, including loans issued under the Affordable Housing 2020 Program at the expense of the republican budget, which are applied from January 1, 2013. The Bank's product sales system: Opening of 5 customer service centers in the cities of Aktobe, Ust-Kamenogorsk, Astana, Karaganda, Ekibastuz. Commissioning of the first 35 payment terminals in the premises of the Bank's territorial divisions. Shareholders of the Bank: Transfer from 03/28/13 rights of ownership and use of the state block of shares of Housing Construction Savings Bank of Kazakhstan JSC to the Ministry regional development Republic of Kazakhstan. year 2013. During a year: Participation of the Bank in the implementation of the State Housing Construction Program in the Republic of Kazakhstan for 2008-2010; Participation of the Bank in the implementation of the Affordable Housing 2020 Program. Moody Confirmation s long-term and short-term ratings of the Bank for deposits in national currency at the Ba1/Not prime level. Confirmation of the quality management system certificate for compliance with ISO 9001: 2008. The Bank's product sales system: Opening of 7 customer service centers (2 central centers in Astana, 2 central centers in Ust-Kamenogorsk, Shymkent, Zhanaozen, Temirtau). Commissioning of 19 payment terminals in the premises of the Bank's territorial divisions and in trading houses. Commissioning of our own Contact Center. Shareholders of the Bank: From August 2013 to the present, the sole shareholder of Housing Construction Savings Bank of Kazakhstan JSC is National Management Holding Baiterek JSC. The Bank's mission reflects the purpose of the Bank, its positioning and determines the strategic meaning of the Bank's activities, both for society and for the state as a whole. The Bank's mission is: "Ensuring equal access to the general population to the system of housing construction savings in all regions of the Republic of Kazakhstan and providing high-quality banking services to improve living conditions." The present vision of the Bank represents the direction of business development and the expected state in the long-term future: "House Construction Savings Bank of Kazakhstan JSC strives to ensure wide coverage of the country's economically active population to participate in the housing construction savings system, maintaining the principles of reliability, trust and high quality in relationships with clients and partners, business transparency and corporate governance." The strategic goal is to increase the competitiveness of the Bank by increasing the share of participants in the housing construction savings system to 17% of the economically active population and increasing and maintaining the return on equity capital at a level of at least 6%. Strategic directions of development: development of a system of housing construction savings; increasing the efficiency of the Bank’s participation in the implementation of social government programs. 2 Risk management and types of risks of Housing Construction Savings Bank Risk management is understood as a system for limiting risks in order to implement the Bank's development strategy, obtain planned profits and ensure its sustainable ongoing operation. In order to effectively manage risks, the Bank uses a set of risk management methods through diversification, limitation, and the use of various protective mechanisms and hedging instruments. In this regard, the Bank has developed and applies internal regulations regulating the procedure for managing financial and non-financial risks. The Risk Management Department, in accordance with the tasks assigned to the department, performs the following main functions, guided by the Risk Management Policy, the Bank's Asset and Liability Management Policy, and other internal documents of the Bank: Management of structural risks of the Bank's balance sheet; Search for optimal relationships between business asset portfolios depending on the risk/return ratios established by the strategy for each business asset portfolio (loan portfolio, treasury portfolio, cash portfolio, etc.); Managing risks inherent in various types of business and processes, as well as products, tools, operations in the context of types of risks or business processes; analysis of the Bank’s balance sheet and off-balance sheet accounts and income and expense accounts sensitive to changes in economic conditions; Identification and classification of credit, financial, non-financial risks inherent in the Bank’s activities; Ranking of loans by credit risk level and comparison with established limits (scoring); Distribution of powers when making credit decisions: authorization, loan monitoring, loan portfolio management and recovery of problem loans; Quality control loan portfolio and the formation of reserves to cover losses from credit activities; Carrying out quantitative and qualitative assessment of operational risks, developing recommendations; Monitoring of the Bank's investment portfolio by type of financial instrument, issuer, maturity, types of currencies and investment purposes. The Bank's risk classification is based on the Bank's goals and strategies and includes the following types of risks that are associated with external and internal factors and may pose a threat to the Bank's continuous and sustainable operations: Financial risks; Non-financial risks Financial risks- the likelihood of events occurring that in the future may lead to losses, loss of income, shortfall or receipt of additional income as a result of the Bank’s actions under the influence of external and internal development factors in an uncertain economic environment. In order to manage financial risks, the risk management division is guided by the risk management policy and the Bank's asset and liability management policy. a) Credit risk b) Market risks c) Risk of loss of liquidity Credit risk- the risk of expenses (losses) due to the client’s violation of the initial terms of the agreement (contract) for the fulfillment of his obligations monetary obligations when carrying out borrowed and other operations. Kinds credit risks: ) Borrower risk - the risk of the borrower failing to fulfill its obligations under a bank loan agreement. The borrower's risk includes 3 types of sub-risks: pre-settlement risk is the possibility of losses due to the borrower’s refusal to fulfill its obligations during the term of the transaction until settlements have been made. settlement risk - the possibility of non-receipt of money at the time of settlement of the transaction (due to lack of money, operational failures in the system, etc.). transaction completion risk - the risk that the borrower fails to fulfill its obligations on time or fulfills them late. ) Collateral risk - the risk of losses associated with a decrease in the market value of the security of a housing (bridging) loan, the inability to take possession, incorrect registration of collateral, the inability to fulfill obligations by the guarantor and/or insurer, etc. ) Loan portfolio risk - the risk of unbalanced distribution of funds between regions, borrowers, etc. In order to minimize credit risks, the Bank provides organizational support for lending activities, establishes lending limits, and evaluates credit offer and analysis of the borrower’s creditworthiness, ranking of loans by level of credit risk and comparison with established limits, distribution of powers when making credit decisions: authorization, loan monitoring, loan portfolio management and recovery of problem loans. Market risk- represents the possibility of losses associated with unfavorable changes in market parameters ( exchange rate, interest rate, cost of financial instruments, etc.). Market risk determines the dependence of the Bank's income on the variability of the external environment associated with the likelihood of losses for individual instruments and/or issuers and borrowers. The main goal of Market risk management is to ensure stability financial situation and an acceptable level of profitability of the Bank, as well as minimizing external and internal factors affecting both the decrease in profit and the deterioration of the financial condition of the Bank. Market risks are assessed and monitored for an individual instrument and the portfolio as a whole using the VaR methodology. The amount of economic capital reserved against possible losses due to market risks is calculated. To estimate the VaR indicator, the historical modeling method is used. Types of market risks: ) Interest rate risk - the risk of expenses (losses) due to unfavorable changes in interest rates, including: the risk of expenses (losses) due to a discrepancy between the terms of return and repayment of placed assets and attracted liabilities of the bank (at fixed interest rates); the risk of expenses (losses) due to the bank’s application of different types of rates (floating or fixed) on the bank’s assets, on the one hand, and liabilities, on the other; basis risk associated with the use of different methods of calculating and adjusting the remuneration received and paid for a number of instruments that, other things being equal, have similar price characteristics. ) Currency risk - the risk of expenses (losses) associated with changes in exchange rates foreign currencies when the bank carries out its activities. The risk of expenses (losses) arises due to the revaluation of the bank’s positions in currencies in in value terms; ) Price risk - the risk of expenses (losses) due to changes in the value of portfolios of financial instruments that arise in the event of changes in financial market conditions affecting market value financial instruments. Liquidity risk- risk associated with the possible failure or untimely fulfillment by the Bank of its obligations. When managing the risk of loss of liquidity, it is controlled current liquidity Bank, and also compares the terms of placed and attracted money, income and expenses associated with the receipt (payment) of remuneration. The liquidity risk management strategy is commensurate with the scale of the Bank’s activities and: takes into account areas of business activity; takes into account liquidity needs, as well as the consequences for liquidity during periods of insufficient liquidity, which may be specific to the Bank, or to the entire market, or both. Organization of effective liquidity management is aimed at early recognition of the risk of loss of liquidity and its prevention, by taking timely and adequate measures that can protect the stability of the Bank, the interests of clients, correspondents, participants and partners of the Bank, while at the same time mandatory compliance with the interests of the Bank. In the process of liquidity management, the Bank selects combinations of liquidity management methods depending on the situation on the financial market, the financial position and liquid position of the Bank. Non-financial risks- these are the risks of direct or indirect losses due to incorrect/ineffective construction of business processes, insufficient or absent system internal control and other factors. When managing non-financial risks, primary importance is attached to the consistent development and improvement of the internal control system in the Bank. ) Operational risk ) Reputational risk ) Legal risk Operational risk- the risk of losses as a result of shortcomings or errors in the implementation of internal processes made by employees, functioning information systems and technology, as well as due to external events. Types of operational risks: risks associated with the Bank's uncertain, inadequate organizational structure, including the distribution of responsibilities, reporting and management structure; the risk caused by inadequate strategies, policies and/or standards in the field of strategic management, information technology, deficiencies in the use of software, improper resource support for the implementation of the Bank's goals, as well as the risk associated with poor implementation of the Bank's goals; risks associated with inadequate information or its inappropriate use; risks associated with inappropriate personnel management and/or unqualified staff of the Bank; risks associated with inadequate design of business processes or weak control over compliance with internal rules; risk caused by unforeseen or uncontrollable factors of external influence on the bank's operations; the risk associated with changes in legislation, or the risk associated with the presence of shortcomings or errors in internal documents/rules governing the Bank’s activities; the risk associated with incorrect actions of the Bank’s management and personnel, which resulted in a narrowing of the client base, distrust or negative perception of the bank by clients and counterparties. Reputational risk- the risk of expenses (losses) due to negative public opinion or decreased confidence in the Bank. Legal risk- the risk of expenses (losses) due to the Bank’s violation of the requirements of the legislation of the Republic of Kazakhstan or non-compliance of the bank’s practice with its internal documents, and in relations with non-residents of the Republic of Kazakhstan - the laws of other states. 3 Types of loans from Housing Construction Savings Bank A loan is a type of obligatory relationship, an agreement by virtue of which one party (Lender) transfers money or other things into the ownership of the other party (Borrower), and the borrower undertakes to return to the lender the same amount of money (loan amount) or an equal amount of other things received by him. same kind and quality. The bank offers 3 types of loans, depending on the size of the down payment: housing, preliminary and intermediate. ) Housing loan - stipulates that for at least 3 years the borrower must accumulate 50% of the amount he needs in the housing cooperative, and the remaining 50% is provided by the bank. The higher the accumulation period, the longer the period for which the loan is provided. The evaluation indicator is determined by the bank for each specific client. This indicator depends on the duration of storage of money in the account in the Housing Insurance Fund and on the size of the amount in it. The more conscientiously the client deposits money into a bank account, the higher the assessment indicator. The estimated indicator will be higher if the borrower replenishes the deposit regularly and makes payments of no less than the amount agreed upon in the agreement. The estimated indicator can also be increased by replenishing the deposit ahead of the accumulation schedule. Incomplete application monthly fee or failure to deposit it into the account reduces the assessment indicator and, at the same time, the date of receipt of the housing loan is shifted. Accordingly, when the contractual amount decreases, for example, from 9 million tenge to 8 million tenge, the estimated indicator increases. Then it will be possible to receive a housing loan earlier than the agreed period. Making deposits early will increase the assessment indicator when making contributions at the initial or middle stage of savings (depending on the term of the deposit). For those borrowers who have not yet saved 50% of the required amount, and who do not have time to wait and save, then a preliminary housing loan is suitable for them. ) Preliminary housing loan - for borrowers who want to borrow 100% of the required amount from Housing Construction Savings Bank and receive it in their hands immediately. In this case, the client must meet the required level of solvency. In this case, the borrower needs to open a deposit in the HCSB and deposit the required amount there monthly to repay the loan. Initially, the loan amount is charged a rate that varies from 10.5-11% (effective from 14-14.8%) per annum. When accumulating 0-25% of the required amount - the rate is 11% (effective 14%) per annum. When accumulating more than 25% of the required amount - the rate is 10.5% (effective 14.8%) per annum. The term of the preliminary housing loan varies from 3-8.5 years. The deposit rate is 2% (effective from 6.1-12.6%) per annum. After fulfilling the conditions of Housing Construction Savings Bank: savings on the deposit must be at least 50% of the required amount, the period of storage of funds on deposit is at least 3 years and reaching a certain level of the assessment indicator, the preliminary housing loan turns into a housing loan, where loan rates vary from 3. 5-5% (effective from 4-5.8%). The bank also charges interest on the deposit according to tariff programs. If the borrower already has 50% of the required amount on hand, then he can use an interim housing loan. ) Bridging Housing Loan. HCSB offers two intermediate housing loan programs: a) bridging housing loan b) interim housing loan "Zhenil". Two programs provide that the borrower already has 50% of the amount he needs on hand. Interim housing loan - the client immediately deposits 50% of the required amount into an account with the housing cooperative, and the bank provides him with 100% of the required amount. For example, if an apartment costs $60,000 and the client already has $30,000, HCSB will provide $60,000. In this case, the bank will place the client’s $30 thousand on deposit. This type of housing loan provides that the borrower pays both interest and principal throughout the entire loan term. IN in this case the financial burden on the borrower is distributed evenly. The annual nominal rate on the deposit according to the tariff program is 2% (effective from 4.6-12.6%). The maximum loan period is up to 25 years, depending on the selected tariff program. The annual nominal loan rate varies from 8.5-12% (effective from 11.2 to 20.7%). After fulfilling the conditions of Housing Construction Savings Bank: savings on the deposit must be at least 50% of the required amount, the period of storage of funds on deposit is at least 3 years and reaching a certain level of the assessment indicator, the intermediate loan is transferred to a housing loan, where loan rates vary from 3.5 -5% (effective from 4-5.8%). The bank also charges interest on the deposit according to tariff programs. Interim housing loan "Zhenil" - this loan also stipulates that the client must immediately deposit 50% of the required amount into an account with the housing cooperative, then the bank will provide 100% of the required amount. But this type The loan stipulates that for the first 3 years the borrower repays only interest on the loan. Thus, in the first 3 years, the borrower’s financial burden increases. This type of loan will be more convenient for those borrowers who are confident that their solvency in the first 3 years will be higher than in subsequent years. The annual nominal deposit rate under the tariff program is 2% (effective from 8.1-12.6%). The maximum loan period is up to 10 years, depending on the selected tariff program. The annual loan rate will be 9.5% (effective 12.5%). After fulfilling the conditions of Housing Construction Savings Bank: savings on the deposit must be at least 50% of the required amount, the period of storage of funds on deposit is at least 3 years and reaching a certain level of the assessment indicator, the interim loan "Zhenil" goes into housing, where loan rates vary from 4.5-5% (effective from 5.1-5.8%). The bank also charges interest on the deposit according to tariff programs. Conclusion
In many countries, the establishment of a system of specialized banks to provide financial support to both strategic and less important industries has created the necessary prerequisites for achieving a high level of investment and the perception of industrial and technological innovations. Their examples convincingly indicate that solving the strategic problems of the national economy by intensifying the activities of specialized credit institutions is very effective, as it ensures interaction between the state, banks and non-financial enterprises. So, despite the global trend towards the universalization of banks, specialized banks are unlikely to disappear completely. In any case, as long as there are crisis economies that require close interaction between the state, banks, and non-financial enterprises necessary to achieve common national interests, specialized banks will play their important role.
Specialized banks- private and public loans. institutions with special tasks that perform a number of functions to stimulate the definition. spheres of national ek-ki related to the implementation of national interests. The activities of specialized banks are focused on providing mainly 1-2 types of services for the majority of their clients. Types by specialization: 1. Functionality - innovative, investment, savings, mortgage, accounting, deposit, clearing; Functional the special influences the characteristics of the bank’s activities, determines the features of the formation of assets and liabilities, and the specifics of working with clients. 2. sectoral - agricultural, social. development, construction, trust, energy, foreign trade; (the degree of special and industry banks, the specifics of the form of their assets and liabilities depend on the scope of their activities and on the differences associated with the special organizations of the economic activities of the industry clientele) 3. client-consumer. loans, stock exchanges, utilities, cooperatives, insurance; (showing customer focus) 4. territorial – regional, interregional, international. The most pronounced function. specialization, because it affects the characteristics of the bank’s activities, determines the features of the formation of assets and liabilities, and the specifics of working with clients. Important and most common. of which there were also mortgages. bank. Mortgage banks are banks that specialize in providing loans secured by real estate - land and buildings. Mortgage resources banks are their own. savings and mortgages bonds. Mortgage bonds – long-term prices securities issued against the security of real estate and yielding a fixed percentage. Mortgages. loan - long-term loans issued against real estate and land. % mortgage rates. loans are differentiated depending on finance. borrowers' situation. If the debt is not paid on time, the borrower loses the property that serves as security for the loan. Mortgage credit is subject to government regulation, which includes ensuring liquidity of mortgages. banks, obligatory storage of a certain portion of funds attracted by them to the Central Bank, control over the V loan. operations and price issue. papers and other events. After 1917 mortgages. banks in Russia were liquidated. In 1992 in Russia. investment was created. land bank.
31. Active operations of commercial banks: concept, meaning, characteristics of types.
Act. Operations are operations that allocate resources. Their importance for any commercial bank is great, because... they provide Bank profitability and liquidity. Active operations are also of great economic importance because with their help, banks direct the money released in the process of economic activities to those participants in the economy who need capital, there is a flow of capital into promising industries; Industrial investments are growing, reconstruction is taking place, and construction is expanding. Ak opers can be divided into 4 groups: 1. Cash transactions (receipt, storage, issuance of cash); 2.Loan operations; 3.Investment in securities prices; 4. Investment in fixed assets (land, buildings, equipment) According to the degree of profitability, all assets are divided into 2 groups: 1. Income-generating - the so-called working assets: loans, that is. Part of investments in securities prices); 2. Non-income-generating assets (non-performing assets: cash, balances in correspondent and reserve accounts with the Central Bank, investments in fixed assets of the bank. From the point of view of liquidity, 3 groups: 1. highly liquid assets, which can be immediately used for payment withdrawn deposits, because they are in cash form or can be easily and quickly transferred into it (cash cash, funds in correspondent accounts and reserve accounts with the Central Bank and funds in correspondent accounts of other banks ; 2.liquid assets - assets with an average degree of liquidity, which could be transferred to cash from slight delay and an insignificant risk of losses (demand loans, easily sold promissory notes and short-term securities - primarily government-issued); 3.low-liquid, even illiquid, hopeless assets, the probability of which can be converted into cash is very small or zero (long-term loans; investments in long-term securities, hard-to-sell buildings, structures; debts with long arrears). According to the degree of risk, the Central Banks divide assets into 5 groups (instruction 110-4), the gradation of risk is given from 0-100%: 1.gr of risk from 0-2%; 2 grams of risk from 2-10%; 3 from 10-20%; 4 from 20-50%; 5 -100%. Up to 80% banking assets accounts for lending transactions and investments in securities prices.
Ministry of Education of the Russian Federation
Arkhangelsk State Technical University
Institute of Economics, Finance and Business
Department of Finance and Credit
COURSE WORK
Specialized banks
Is done by a student
3 courses 7 groups
specialty 0605
Obraztsov N.V.
Checked by the teacher
Ermolina O.N.
Arkhangelsk
Introduction 4
1 The role of specialized banks in the credit system 5
1.1 Models for constructing credit and banking systems. Emergence
banking specialization 5
1.2 Specialized banks as links between
politics and economics 6
1.2.1 Specialized banks in Western countries 6
1.2.2 The role of specialized banks in the development of the economy
Japan and Korea 9
2 Types of specialized banks in Russian and foreign countries
practice 11
2.1 Criteria for specialization of banks 11
2.2 Investment banks 12
2.2.1 Definition of an investment bank 12
2.2.2 Services provided by an investment bank 13
2.3 Mortgage banks 15
2.3.1 The concept of mortgage and mortgage bank 15
2.3.2 The role of mortgage banks in economic development 16
2.3.3 Active and passive operations of mortgage banks 17
3 Prospects and problems for the development of specialized banks in the Russian Federation 19
3.1 Specialized banks of the Russian Federation 19
3.1.1 Russian Development Bank 19
3.1.2 Russian Agricultural Bank 22
3.2 Problems of development of specialized banks in Russia 22
3.2.1 High risks 23
3.2.2 Low level public trust 23
3.2.3 Problems of development of investment banks 24
3.2.4 Problems of development of mortgage banks 25
4 Universal and specialized banks 26
4.1 Tendency towards universalization 26
4.2 State and commercial banks in Russia 29
Conclusion 30
References 31
INTRODUCTION
The process of economic globalization, which began in the 20th century and is now the guiding force of all human development, determined the need to accelerate the mobilization of financial resources, which led to significant transformations in the credit and banking systems of developed countries. The main trends of these transformations were expressed, in particular, in the increased concentration and centralization of credit institutions, the growth of groups of giant banks operating as transcontinental entities and, as a consequence, the processes of universalization of banks. The trend towards universalization is characteristic of the credit systems of all developed countries. Indeed, can the profits of banks specializing in individual operations today be large enough to make their activities in other areas unnecessary? Not always. Increasing competition between credit institutions and the emergence of fundamentally new opportunities in the context of the development of a powerful financial market have led many banks to the need to look for other ways to increase the profitability of their operations. One of the ways to solve the problem was a sharp increase in the number of transactions carried out by banks.
At the same time, an analysis of the banking systems of various countries indicates a parallel development of a tendency towards increased specialization of the activities of commercial banks. Thus, in countries with developed market economies, including those that have a universal structure of the credit system, an important place (despite a slight decrease in their number) is occupied by specialized banks.
Specialized banks today are private and public credit institutions with special tasks that perform a number of functions to stimulate certain areas of the national economy.
One of the goals of the Strategy for the Development of the Banking Sector of the Russian Federation is precisely the creation of similar banking institutions with special tasks related to the implementation of national interests. The presence of banks that would operate in areas of activity that are of fundamental importance for the Russian economy, such as long-term investment, is a pressing problem in today's Russia.
1 ROLE OF SPECIALIZED BANKS IN THE CREDIT SYSTEM
1.1 Models for constructing credit and banking systems. The emergence of banking specialization
World practice knows two main models for building credit banking systems: segmented (American) and universal (German). With a segmented structure, characterized by the presence of a strict legislative separation of the areas of operating activity of various credit institutions, banking operations for accepting deposits and issuing short-term loans are separated from operations for issuing and placing securities of industrial corporations, providing investment loans and some other types of financial services (real estate transactions, etc.) With a universal structure, banks, in accordance with the law, can provide a wider range of financial services without restrictions.
The main differences between these models are the degree of universalization and specialization of credit institutions, forms and sources of financing for the real sector, and levels of diversification investment portfolios banks and enterprises. In the German model, risk control is ensured by universal commercial banks, which are both the main lenders of the real sector and the main subjects of the financial market.
The differentiation of areas of activity between various credit institutions was introduced in a number of countries after the global economic crisis of 1929-1933. Thus, in Italy, before the crisis, banks, counting on maintaining a favorable market situation, provided medium- and long-term loans based on short-term savings deposits. In the context of the economic crisis, when, with sales declining and prices falling, enterprises stopped repaying loans, and depositors began withdrawing their savings, this led to a deterioration in the liquidity of banks and a subsequent chain of major bankruptcies. According to the banking law of 1936, a specialization of banks was created: banks were identified that deal only with short-term or only medium- and long-term lending.
In the USA, universal banks, according to banking law of 1933 (Glass-Steagall Act), were divided into commercial and investment banks. Commercial banks, which focused their activities on traditional banking operations, were prohibited from transactions with securities, with the exception of transactions with state federal or municipal securities, which served as a regulator to compensate for cyclical market fluctuations in loans. Investment banks made long-term investments in industrial development and securities transactions at their own expense and at the expense of the client. A similar differentiation of operations with securities formed the basis for the construction of the Japanese banking system, the restoration of which after the Second World War was carried out according to the American model with a high level of specialization.
Traditionally, UK banks are characterized by a high degree of specialization, including depository (commercial) and business (trade) banks. Despite the lack of direct legal restrictions, depository banks, like commercial banks in the United States, for a long time did not have direct access to the stock market and were focused on short-term deposit and credit operations and settlements. This functional division was also caused by a reaction to the large number of bank failures during the crisis of 1929-1933, which, as in Italy, were the result of depository banks providing medium- and long-term loans on the basis of short-term liabilities.
1.2 Specialized banks as links between politics and economics
1.2.1 Specialized banks in Western countries
The presence of banks that operate in areas of activity that are relevant to the national economy, with the support of the state, is typical for many countries.
So, in Germany credit institutions with special objectives are private and state banks, performing a number of functions to stimulate certain areas of the national economy. A private bank is, for example, "Industriekreditbank AG - Deutsche Industriebank", which is engaged in issuing long-term loans to enterprises whose financial condition does not allow raising funds through the issue of shares; state - "Kreditanstalt fur Wiederaufbau" (Recovery Bank), whose activities are related to supporting crisis sectors of the economy and export lending.
When providing support to the middle business stratum, implementing measures to protect environment or promoting innovation, important tasks are performed by the Credit Authority for Economic Recovery (Kreditanstalt fur Wiederaufbau, KfW) and specialized banks, including the Deutschen Ausgleichsbank (Dta-Bank). Specialized banks implement the program to support medium-sized businesses at their own expense, and therefore this does not create an additional burden on the state budget.
In general, the scope of activity of specialized banks includes supporting the German economy (by providing investment loans, financing the participation shares of some firms and enterprises in the capital of others, long-term financing of exports and the implementation of certain projects), as well as providing assistance to developing countries.
Development banks link policy to markets. The government does not communicate its plans to promote entrepreneurship in detail to the grassroots. Bank implementing support measures decisions taken, must act independently within the framework of his own responsibility, but in accordance with the objectives of the policy.
Implementation of tasks to support medium-sized businesses according to the rules of private business provides greater flexibility and speed. The Credit Authority and DtA-Bank demonstrated this approach in early 1996 in implementing the investment and job creation program. Then the Credit Office alone attracted additional resources of 10 billion German marks for these purposes. Of these, entrepreneurs used three billion within four months. And this, in turn, entailed capital investments totaling more than 5 billion marks, including for the development of local infrastructure and environmental protection.
In relation to the middle stratum of entrepreneurs, financing investment activities is largely achieved by attracting capital from outside. Loans pass through banks and savings banks and enter the mainstream of general financing. This was largely how Germany's economic recovery after World War II was financed. With the unification of the country, the same approach has proven itself in the new federal states. Since 1990, the Credit Authority alone has provided investment loans amounting to 100 billion marks, mainly to artisans, municipal authorities and housing construction. Dta-Bank allocated 55 billion marks for these purposes.
An investment of DM 1 million creates 1.9 new jobs in East Germany. In the old lands, this figure is 1.3 jobs for the same volume of investment.
With the help of loans at a preferential rate, the Credit Department seeks to intensify investment activity. Every year in Germany, 15 thousand small and medium-sized enterprises submit loan applications to the Credit Authority. They are confident that they will be provided with long-term financing for investments in favorable conditions. On average, loans and investments annually create 50 thousand new jobs, and 700-800 thousand of them become more competitive.
The system of a socially oriented market economy lives thanks to people who know how to take advantage of new chances, who are ready to take risks and take responsibility. That is why one of the most important components of the German economy is the middle class of entrepreneurs. Policies pursued in his interests benefit the country's economy as a whole. The main thing in this is to give scope to entrepreneurial initiative, to ensure and expand “free places” in the market. The flexibility and readiness of the middle layer to innovate helps the dynamic development of our economy in the conditions of European and global competition.
IN the Netherlands many of the specialized banks are state-owned or operate on the basis of government guarantees. Such banks, in particular, include the National investment bank("De Nationale Investeringsbank NV"), which invests capital in less developed regions and provides credit support to companies experiencing financial difficulties, and the Netherlands Credit Insurance Company ("Nederlandse Credietverzekering Maatschappij NV"), which provides political risk insurance in special cases.
In France State credit institutions account for more than half of long-term loans.
1.2.2 The role of specialized banks in the development of the economies of Japan and Korea
Traditionally, the role of the state in supporting national, including banking, business in Japan. Unlike the Western model, which is focused on government intervention in the economy in case of market failures, the Japanese model is preventive in nature.
Very instructive is the Japanese experience of economic recovery based on a priority production scheme, according to which capital through the State Recovery Finance Corporation was concentrated in basic industries industry. In the subsequent period, when stability is achieved economic development, to financially support investment demand, long-term lending banks were restored, trust banks and a number of state financial institutions complementing their functions were established: the Japan Development Bank, the Export-Import Bank of Japan, which provided funds from the accounts of the trust fund bureau of the Ministry of Finance. Certain types of financial regulation were also used: regulation of interest rates, areas of activity, division of the domestic and foreign markets ( exchange control in capital transactions, etc.). Thus, on the basis of establishing a low interest rate, the investment demand of enterprises was stimulated. Excess rate long-term interest over the short-term contributed to reducing interest rate risk and stabilizing the activities of financial institutions. A significant role in the development of the Japanese economy was played by state support for the activities of the “head” specialized banks, which, on the basis of constant communication with enterprises, monitored their creditworthiness and provided assistance in management.
Of undoubted interest are the processes of state participation in the formation of mobilization mechanisms investment capital in newly industrialized countries, in particular in the republic Korea, where the formation of the banking system was subordinated to the needs of ensuring economic growth.
In order to finance economic development projects in the industrial and agricultural sectors of the economy, the Korean Development Bank, which is a state specialized credit institution, was established, and the Agricultural Bank of Korea was formed on the basis of the Federation of Financial Associations. Later, a whole system of specialized banks was formed to provide financial support to both strategic and less important industries, the Korean Long-Term Lending Bank, the Export-Import Bank of Korea, trading and banking corporations were created to provide medium- and long-term loans to non-financial enterprises and mobilize foreign capital .
Thus, becoming a branched and flexible credit and banking system created the necessary prerequisites for achieving a high level of investment and perception of industrial and technological innovations.
These examples convincingly indicate that solving the strategic problems of the national economy by intensifying the activities of specialized credit institutions is very effective, as it ensures interaction between the state, banks and non-financial enterprises.
2 TYPES OF SPECIALIZED BANKS IN RUSSIAN AND FOREIGN PRACTICE
2.1 Criteria for specialization of banks
Specialized banks according to specialization criteria can be divided into the following groups:
Specialized banks
Specialization criteria
functional industry client territorial
specialization: specialization: specialization: specialization:
Figure 1 Classification of specialized banks
Functional specialization is the most pronounced, since it fundamentally influences the nature of the bank’s activities, determines the features of the formation of assets and liabilities, and the specifics of working with clients.
On the other hand, in a narrower sense, specialized banks are understood to be banks dedicated to functional classification. The most important and most common of them are investment And mortgage banks.
2.2 Investment banks
2.2.1 Definition of an investment bank
In the English-Russian banking encyclopedic dictionary of B.G. Fedorov investment bank defined as a bank specializing in organizing the issue, guaranteeing the placement and trading of securities; also providing advice to clients on various financial issues, focused mainly on wholesale financial markets (in the USA), or as a non-clearing bank specializing in medium- and long-term investments in small and medium-sized companies (in the UK).
There is also another definition investment banking house as an enterprise engaged in trading corporate and government securities, primarily in the form of purchasing a large block of shares and further selling these securities to investors; corporate financing in the form of raising capital against issued securities or in the form of providing a long-term investment loan.
The main characteristics of investment banks are:
The main activity is to attract financing through securities;
Being large organization, operates primarily in wholesale financial markets;
Gives priority to medium and long-term investments;
Securities are the core of its portfolio, with most investment banks focusing heavily on non-government securities.
The largest items of income for an investment bank include:
Income from the provision of services to attract financing;
Income from managing your own portfolio;
Income from the provision of client portfolio management services;
Income from the provision of brokerage services.
2.2.2 Services provided by the investment bank
In developed countries, investment banks provide the following services to their clients:
To attract financial resources;
Business restructuring through mergers and acquisitions;
Brokerage;
Portfolio management;
Depository-custodial;
To provide the above services, the investment bank develops several types of activities, which can be divided into external(directly directed at the client and at the counterparties providing the services) and internal(creating the necessary prerequisites for the implementation external views activities).
The external activities of the bank (investment banking activities themselves) bring profit to the bank.
There are two main directions here:
Attracting financing;
Mergers and acquisitions.
In addition, investment banks often actively trade controlling stakes in small and medium-sized corporations not on orders from clients to restructure their businesses, but in order to obtain speculative profits. Moreover, during the period when the investment bank holds one or another controlling stake, it can carry out financial recovery of this enterprise, optimization of the finances of this corporation, as well as other measures aimed at increasing the market value of this package
Attracting funding most often implies a form of placement of the client’s securities, however, options for attracting financing through the creation of venture enterprises and the use of investment lending mechanisms are not excluded.
This type of activity naturally breaks down into a number of more specific types of activities:
Financial consulting for a client wishing to attract financial resources by issuing securities;
Underwriting syndication, i.e. creation and management of underwriting syndicates;
Promotion of client securities on financial markets;
Servicing client securities on the secondary market.
Usually as part of an investment banking highlight such a direction as corporate finance, which implies attracting financing for corporate clients, i.e. assistance in attracting additional capital corporations - clients of the investment bank. Currently, only a very small proportion of investment banks raise finance for governments and municipalities, so for most other investment banks the terms "investment banking" and "corporate finance" are essentially the same.
Mergers and acquisitions for an investment bank operating in a country with a developed financial market, they often become the main area of income generation. Most Russian enterprises and financial groups have not yet reached the level of development when there is a need for the services of an investment bank to conduct mergers and acquisitions. IN Russian conditions Mergers and acquisitions often refer to transactions involving large blocks of shares. However, the activity of buying and selling individual businesses is not the same as mergers and acquisitions. The activities of an investment bank during mergers and acquisitions can be divided into the following components:
Consulting activities to determine the optimal option for business restructuring;
Attracting financial resources for mergers and acquisitions;
Accumulation of large blocks of shares on the market at the client’s request (purchase of large blocks), sale of large blocks;
Restructuring of a separate company and sale of its parts;
Development and implementation of effective protection of the client from takeover.
2.3 Mortgage banks
2.3.1 The concept of mortgage and mortgage bank
Part of the financial market in which it is redistributed borrowed capital collateralized by real estate is called the mortgage capital market. Mortgages act as securities in the mortgage capital market, guaranteeing lenders the receipt of loan payments, as well as the possibility of returning invested funds if borrowers fail to fulfill their obligations through the sale of the collateral.
In other words, a mortgage is the security of an obligation with real estate, in which the mortgagee has the right, in the event of failure by the mortgagor to fulfill the obligation, to receive satisfaction from the mortgaged real estate.
Mortgage banks play an important role in the mortgage capital market. These banks provide loans secured by real estate. In developed capitalist countries, mortgage banks play a large role in the banking system. Some banks give loans secured by real estate to the government.
The mortgage agreement is concluded in the form of a mortgage note. The mortgage must be notarized and subject to state registration. The mortgage agreement comes into force from the moment of registration of the mortgage.
The mortgage can be set for:
Land;
Enterprises, buildings and other real estate used in business practice;
Residential buildings, apartments;
Cottages, garden houses, garages and other buildings;
Other real estate.
Funds for providing loans mortgage bank receives from the sale of mortgage sheets. These are reliable, interest-bearing debt obligations of the bank towards the holders. Mortgage notes are secured by bank-provided and guaranteed mortgages or mortgage debts and loans.
An important feature of mortgage notes is that the mortgage bank does not change the payment percentage on them throughout the entire period of their validity, so it can set a fixed loan payment percentage for its borrowers for this period. This is what distinguishes loans provided through the sale of mortgage sheets from loans from savings banks or other banking institutions.
The types of activities that mortgage banks may engage in, along with their primary activities, include investing in securities at certain interest rates, issuing loans against securities, and some financial services.
The mortgage bank is prohibited from secondary activities associated with risk. For example, a bank can purchase land from its debtors only for the purpose of preventing losses, constructing administrative buildings for its needs or housing for its employees; the bank is prohibited from engaging in land speculation.
Legislative restrictions in the interests of mortgage holders make mortgage banks special institutions rather than universal banks.
2.3.2 The role of mortgage banks in economic development
Mortgage lending is of great importance for economic development. the main objective Federal mortgage institutions, including banks, is to lend to agriculture and housing construction, providing socio-economic services to the most sensitive areas of the economy, i.e. less affluent sections of the population. Often, mortgage banks are the conductors of certain targeted government policies to strengthen various sectors of the economy.
Due to their long-term nature (20 - 30 years), mortgage loans are especially convenient for financing in cases where interest payments and loan repayment are possible only from current, usually low, income, i.e., in small installments. For example, when financing the construction of residential buildings for rent, repayment of the mortgage loan is possible only from proceeds rent. This also applies to the financing of agricultural enterprises for the purpose of expanding land (purchase of additional plots of land) or construction of residential and ancillary premises, since the increase in income in agriculture relatively low .
Mortgage banks have in the economy double meaning: How social institutions providing long-term land loans, and as issuers of mortgage notes, which are the most secure and interest-bearing means of investing capital.
Securities issued by mortgage bankers are typically purchased by commercial and savings banks. Insurance companies and other credit and financial institutions. This allows mortgage lending institutions to obtain the necessary sources and subsequently use them for mortgage lending construction for the urban population, farmers and small entrepreneurs.
In addition, mortgage banks are intermediaries between the investment of capital and the actual loan. The capital of the holder of mortgage notes is provided not by one object, but by the totality of all objects of the bank that guarantee its loans. This way the risk is dissipated. Unlike a private person who provides a loan for one object, the bank has the opportunity to assign a very low rates repayments, since funds coming from multiple borrowers can be used for new loans.
2.3.3 Active and passive operations of mortgage banks
The specific activities of mortgage banks determine the formation of their passive and active operations, which differ significantly from the operations of commercial, savings and investment banks, which is confirmed by the balance sheet of the mortgage bank.
Table 1 Balance sheet of private and public mortgage banks
More than 50% passive operations consists of an issue in the form of long-term bonds, then there are raised funds in the form of long-term loans and carryover loans (public funds), as well as own funds, including share capital, reserve fund and retained earnings.
In active operations, almost 85% are long-term loans, which are allocated to various clients for housing and industrial construction, followed by carryover loans (government funds - about 3%, securities - 0.5% and others - 1.5%).
3 PROSPECTS AND PROBLEMS FOR THE DEVELOPMENT OF SPECIALIZED BANKS IN THE RF
3.1 Specialized banks of the Russian Federation
At the end of 2001, the Government of the Russian Federation and the Bank of Russia adopted the Strategy for the Development of the Banking Sector of the Russian Federation, the implementation of which is designed to medium term(5 years).
In accordance with this strategy, in order to solve special problems of the state economic policy The Government of the Russian Federation has created two specialized state banks: the Russian Development Bank, the Russian Agricultural Bank.
3.1.1 Russian Development Bank
The example of all developed market economies shows that a two-tier financial system does not allow solving the problems of long-term financing of the sphere of material production. For this purpose, special credit institutions are being created to provide restructuring of enterprises, financing of projects and programs of national economic significance, and financial support for the creation of a wide range of viable small and medium-sized enterprises. Such financial institutions include national development banks, whose main function is to implement state investment policy, including through securities market instruments.
The “Measures of the Government of the Russian Federation and the Central Bank of the Russian Federation to stabilize the socio-economic situation in the country” provide for financial support for state investment policy based on the Development Budget of the Russian Federation.
In order to accumulate funds and lend to organizations in the real sector of the economy, as well as highly effective investment projects, the Russian Development Bank (RDB) was created. At the same time, lending was identified as the main direction for using the bank's attracted funds.
In addition, the RBR should play a decisive role in the restoration and development of the domestic securities market.
The true purpose of the securities market is not speculation, not covering the budget deficit, but the creation of a financial mechanism for launching private investment, for the survival and renewal of industry. It performs these functions in all countries with developed market relations and in the countries of Eastern Europe.
The main goal of restoring the domestic securities market is to create a stock market that stimulates economic growth.
It is clear that such a stock market can only arise if a number of macroeconomic conditions are implemented in practice. These include: increased monetization of GDP with its gradual increase and maintenance of moderate inflation, stimulating growth; stimulating investments by domestic and international financial institutions in the real sector; legislative support for the issuance of government project debt securities for specific investment projects while maintaining tax benefits for those of them, the funds from the placement of which are used for capital investments, financing science and advanced technologies; encouraging long-term foreign investment, including in corporate securities.
The list of these measures can be significantly expanded, but these measures, if properly legislated, can ensure the restoration of the Russian stock market and give impetus to its development.
In order for the development bank to satisfactorily fulfill its two main functions - lending to the real sector and supporting the national capital market - it is necessary to take into account the following features when forming it:
1. The main task of the bank is to finance the real sector of the economy, which is not always a profitable and highly effective business. Therefore, a development bank cannot be a commercial bank whose activities are carried out only for the purpose of making a profit.
2. The development bank must have an outstanding reputation in the domestic and international financial markets, which can be facilitated not only by the highest requirements for the professionalism of its management, but also by the conditions that the state will provide it with: state guarantees for obligations, development fund funds can be transferred to the RBR in the form of a subordinated loan, exemption from income tax subject to reinvestment of all profits received by the bank .
3. The development bank must act on the securities market both as an investor and as an issuer. As an issuer, the bank must make maximum use of the issue of its own debt securities (which have a high rating due to state guarantees) and place them on both the domestic and international capital markets, thereby expanding its resource base and not being limited by the funds of the development fund.
Following the state interests of returning credit resources and restoring the stock market, the bank must develop services to enterprises in the field of corporate financing: issuing securities for large investment projects, assisting in their placement, and acting as an underwriter.
The Development Bank can also play an important role in the initial placement of government securities (primarily bonds) issued for specific investment projects (for example, road construction, housing construction, energy saving), with subsequent reinvestment of the funds received from their placement. In combination with tax benefits according to these government securities such a government policy will significantly improve the investment situation in the country and will cause an influx of domestic and foreign private investment.
The Development Bank can also facilitate more efficient management of controlling stakes in securities that enterprises would provide as collateral for loans received, the restructuring of these enterprises, and monitor the ownership structure in Russian industry.
3.1.2 Russian Agricultural Bank
The mission of the agricultural bank is somewhat narrower than that of the development bank. Rosselkhozbank was created in 2001 in order to fill the niche created in connection with the liquidation of SBS-Agro. That is, the main task of the new bank should be the distribution of budget funds intended for the agricultural sector. In the 2002 budget this amount is 15 billion rubles.
As practice has shown, lending to agriculture through a commercial non-state bank is not a very good idea. The creation of a specialized bank should solve the main problem - special purpose loans. That is, Rosselkhozbank will have to ensure compliance with the principle of targeting and targeted nature of budget funds of the Budget system of the Russian Federation. Budget funds must reach the recipient in a timely manner and in in full.
3.2 Problems of development of specialized banks in Russia
Apart from the above listed state banks, there are no more specialized banking institutions in Russia. And they are unlikely to. The fact is that universal banks have greater development opportunities in an unstable economic situation.
Even the government Strategy for the Development of the Banking Sector indicates that the universal functionality of banks is recognized as a fundamental principle of the organization of the Russian banking system. That is, Russian banks must develop within the framework of a universal status that allows them to reduce risks through diversification of services and ensure comprehensive customer service. Specialization of credit institutions in certain banking operations or types of activities is possible, but within the framework of their universal status.
Indeed, today in Russia only state banks can afford to specialize in certain types operations. In any case, stability is ensured for them - they have access to budget funds. While commercial banks, even with their universal status, due to many problems, have an acute shortage of resources.
3.2.1 High risks
The development of banking activities, primarily investment banking, is limited mainly by high risks.
Credit risk. The high level of risk of investing in the real sector of the economy prevents banks from increasing their lending activity. Share of loans real sector economy in the total assets of the banking sector is about 34%, and the ratio of these loans to GDP is approximately 12%. According to the banks themselves, high credit risk is the most significant factor constraining their lending activity.
Liquidity risk. The shortage of medium- and long-term resources is important factor, hindering the development of bank operations. long term duties(with a maturity period of more than 1 year) as of July 1, 2001, accounted for only about 7% of banks’ total liabilities. Throughout the entire post-crisis period, a significant imbalance in the structure of assets and liabilities of credit institutions by maturity has remained, which directly affects the level of liquidity of the banking sector. In order to reduce given risk it is necessary to improve the quality of liquidity management, including measures to capitalize the banking sector.
3.2.2 Low level of public trust
Funds from the population could constitute a significant influx of medium- and long-term resources to provide a base for lending by commercial banks to enterprises for a period from 6 months to 3-5 years.
After the crisis, there was an outflow of a significant volume of household deposits from commercial banks. Sberbank's already overwhelming share in the private deposit market has increased. At the moment, the volume of household deposits in commercial banks is extremely low. If before the crisis, in the liabilities of the banking system, the funds of individuals exceeded the funds of legal entities, then after the crisis the situation changed: after the crisis, at least 5-10 billion dollars went into the “stocking” from the system of commercial banks.
The non-participation of deposits of individuals in a significant volume in the formation of the resource base of commercial banks is a serious obstacle to the accumulation of sources of long-term lending by commercial banks in the manufacturing sector and service sector enterprises and, accordingly, slows down the development of the economy as a whole.
3.2.3 Problems of development of investment banks
The organization of investment banks is of particular importance for the Russian economy, which is in such need of long-term investments. However, their development faces many difficulties.
Investment banks, which operate primarily for their own account, have significantly greater capital requirements than commercial banks engaged in traditional banking services.
The activities of investment banks are closely related to the functioning of the securities market: the degree of formation of the securities market and the implementation of its role as a mechanism for the redistribution of capital largely determine the field of activity of investment banks, the possibility of obtaining sufficient profit from individual operations in this segment of the financial market based on improving the specialization chosen by the bank .
Therefore, the identification of investment banks as a special type of financial institution presupposes a fairly high level of development of the securities market. If, taking into account the above, we consider the history of the formation of investment banks in Russia, where the securities market, developing against the backdrop of complex crisis phenomena, has not reached such a stage of development and does not play a significant role in the mobilization and redistribution of capital, then it becomes obvious that in these conditions banks, created initially as specialized investment banks (East European Investment Bank, East-West Investment Bank, International Investment Bank, Mezhregioninvestbank, etc.), were forced to practically move to diversification of their activities, carrying out all types of banking operations characteristic of universal banks .
3.2.4 Problems of development of mortgage banks
Mortgage lending in Russia is completely undeveloped. Unfortunately, the current options for mortgage schemes are not able to satisfy the market: so far, not a single bank can offer a clear, competent mortgage scheme.
One of the most pressing problems in the development of the long-term mortgage lending system is the problem of refinancing banks issuing loans for long term. An analysis of various programs implemented in Moscow and other cities and regions of Russia shows that, despite all the interest in the development of mortgages, the limiting factor is the lack of sufficient and affordable long-term resources for lending.
The lack of legislation on mortgages, the imperfection of the system for registering mortgages and the seizure of real estate from unscrupulous payers also hinder the development of operations for the provision and development of mortgage loans in Russia.
A law on mortgages has been adopted at the federal level (it does not provide for the creation of special mortgage banks). But at the same time, the law “On equity securities” has not yet been adopted.
Although, the introduction to the market of such financial instruments as participation certificates and mortgage sheets could actually increase the volume of transactions in the mortgage lending market and expand the resource base of this type of loans.
4 UNIVERSAL AND SPECIALIZED BANKS
4.1 Tendency towards universalization
The profits of banks specializing in certain operations can be quite large, which makes activities in other areas unnecessary. At the same time, as mentioned above, recent decades have been characterized by a clear trend towards the universalization of banking operations. Increasing competition between credit institutions and the emergence of fundamentally new opportunities in the context of the development of a powerful financial market have led many banks to the need to look for other ways to increase the profitability of their operations. One of the ways to solve the problem was a sharp increase in the number of operations carried out by banks and the development of forms of investment activity.
As part of the trend towards universalization, services that were previously atypical for commercial banks have rapidly developed: financing of investment projects, leasing, management of a client's investment portfolio, consulting services, etc. The development of these services occurs both as a result of the liberalization of banking legislation and as a result of various methods by banks bypassing existing laws. In Italy, an example is the use of a system of participation and mutual lending of banks engaged in short-term lending and banks issuing medium- and long-term loans. In the USA - organization bank holdings, the creation or merger of legally independent specialized investment institutions, the issuance of “one-time permits” for the takeover of companies legally permitted to deal with securities.
Based on lending operations to industrial companies leasing their equipment, a number of large banks began to carry out leasing transactions and create their own leasing companies. The participation of banks in project financing has increased significantly, in which banks independently prepare investment project or provide clients with professional advice, pay the costs of implementing the project, and in some cases banks become co-owners of shares in the enterprises being created.
There is a reorientation from short-term loans to different kinds and forms of providing loans, the practice of providing targeted loans for long-term financing of certain programs is becoming widespread.
In turn, intense competition between specialized and commercial banks, as well as other credit institutions in the area of attracting savings and providing credit, has created the need for specialized banks to go beyond traditional operations. They got the opportunity to attract deposits from individuals, invest their funds in private securities, conduct leasing and factoring operations to increase income.
Thus, pure mortgage banks seek to expand their operations mainly through broad diversification, since their position is currently closely related to fluctuations in economic conditions. The slightest downturns in the economies of Western countries, especially in construction and agriculture, negatively affect the position of banks, as the likelihood of debt default increases.
The trend towards universalization is characteristic of the credit systems of all developed countries, however, in each of them it has certain characteristics.
It is most clearly represented in Germany, where commercial banks have been carrying out a wide variety of operations for many years, including providing long-term loans and investing in the equity capital of enterprises. Significant share commercial banks in the capital of industrial corporations has advantages for both banks and enterprises: for banks it is an opportunity to ensure control over the long-term financial stability of the borrower, for enterprises it is a reduction in the need for equity capital and a reduction total cost production financing.
The universal principle underlies the organization of the banking systems of Austria, Belgium, Luxembourg, the Netherlands, Norway, Switzerland, and Sweden. Banking systems of “new industrial countries” are also built according to this type, where the universalization of banking activities is seen as a way to strengthen the positions of national banks, increasing their ability to effectively mobilize savings of the population and funds of commercial structures and channel them into investments. In a number of countries, the development of universalization of banking activities has intensified under the influence of changes in legislative acts.
Thus, in France, the banking reform of 1984 established the universal nature of the activities of both business banks, which previously specialized in long-term lending, participation in capital and enterprise management, and commercial banks, which, developing their operations, began to invest capital in large industrial enterprises, create or buy non-banking financial institutions, engage in financial engineering.
In the UK, as a result of the reorganization of the London Stock Exchange ("Big Bang"), commercial banks became leading participants in the financial market, the scale of diversification of their activities, penetration of investment banks into the market, acquisition of real estate agencies, mergers with financial houses and companies operating with securities.
In Japan, in accordance with the banking law of 1983, banks received certain access to operations with securities, thereby beginning the process of moving the Japanese banking system towards a universal type. New reform of the banking system, abolishing most restrictions on currency operations and banking transactions related to the import and export of capital, involves, over the next three years, the elimination of barriers that impede competition between banks and brokerage companies; the removal of many prohibitions that prevent banks from introducing new financial products; providing banks with free access to the public consumption funds market; an increase in asset management operations for non-banking institutions, in particular pension funds.
4.2 State and commercial banks in Russia
The banking system in Russia should be built according to market principles. This means that its foundation should be non-state healthy commercial banks.
Today, a situation has arisen where state-owned banks not only directly compete with commercial banks with the government taking on the corresponding commercial risks, but also hinder their development due to the non-market advantages they create. The most illustrative example is the Savings Bank of the Russian Federation, which, being an artificial monopolist in the private deposit market and having an extensive branch network, uses its non-market advantages in competition with commercial banks in the field of lending to enterprises and actually suppresses the lending activity of commercial banks, including through dumping.
In addition to this, new state banking projects such as Rosselkhozbank and the Russian Development Bank are being born. The ideas of creating state-owned specialized banks in themselves are welcome (as world experience has shown, in weak economies they are simply necessary), but an important principle of their functioning should be the performance of strictly defined functions that complement or modify the balance of power in the country’s financial system, of course, on the principle of “do no harm” to the situation in the banking system as a whole.
In general, when creating state specialized banks, it is important to avoid making previous mistakes. This does not mean the withdrawal of state banks from the spheres of operations of commercial banks, but it means the creation of equal conditions for all banks in these markets, i.e. either the removal of these non-market advantages, or, within the framework of antimonopoly legislation, the adoption of appropriate legislative restrictions.
CONCLUSION
Periods of economic crises are characterized by an increased role of the state in investment processes, including through an increased presence in credit institutions. One of the lessons of the Russian crisis was the awareness of the need to strengthen the role of the state in the economy, the importance state support industry to ensure its recovery from the current semi-crisis state and take measures aimed at enhancing banking participation in solving this problem.
The new restructured Banking system of the Russian Federation must be subordinated to the needs of ensuring economic growth. Therefore, the processes of state participation in the formation of mechanisms for mobilizing investment capital are of undoubted interest here. The creation of state specialized banks to finance economic development projects in the industrial and agricultural sectors of the economy is an important step on this path.
In many countries, the establishment of a system of specialized banks to provide financial support to both strategic and less important industries has created the necessary prerequisites for achieving a high level of investment and the perception of industrial and technological innovations.
Their examples convincingly indicate that solving the strategic problems of the national economy by intensifying the activities of specialized credit institutions is very effective, as it ensures interaction between the state, banks and non-financial enterprises.
So, despite the global trend towards the universalization of banks, specialized banks are unlikely to disappear completely. In any case, as long as there are crisis economies that require close interaction between the state, banks, and non-financial enterprises necessary to achieve common national interests, specialized banks will play their important role.
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