Treść książki
Przejdź do opcji czytnikaPrzejdź do nawigacjiPrzejdź do informacjiPrzejdź do stopki
E.V.Ponomarenko
CRISISLESSONS:THEREVIEWOFRUSSIAN…
flowofcapitalfromRussiain2008amountedto130billiondollars.[8]Insuch
circumstances,withdrawalofforeigninvestorsfromtheRussianmarketshould
provokeliquiditycrisisinthebankingsector,whiletheshareofforeignowner-
shipintheRussianbankingsystemisequalto25%thatisrelativelylowincom-
parisontosomeotherEuropeancountrieswithemergingmarkets.[9]
InMarch2009Theanti-crisisprogramoftheRussianFederationGovern-
mentfor2009wasapproved,withsevenprioritiesoffered,including:strength-
eningofsocialprotectionofthepopulation,preservationofindustrialandtech-
nologicalpotentialforthefuturegrowth,supportforthebankingsector.Inthe
listofanti-recessionarymeasuresoftheRussiangovernmentandBankofRussia
connectedtostabilizationoffinancialmarketareunsecuredauctions–attheend
of2008over150bankshavebeenadmittedtousethem;subordinatedloans–to
thelargestbanks(Sberbank,VTB,RSHBandothers);supportformortgage
lending(AHML);sanitationofbanks;restorationoftheinterbankcredit.Bank
ofRussiahastakendecisiononapplicationtobanksfacedwithfinancialdiffi-
cultiesnotonlybankruptcyprocedures,butothermeasures,morecautious,such
assanitation,mergingandreorganisation.
Quickgovernmentalmeasurestoraiseinsurancepremiumsonpopulation
bankdepositsfrom400to700thousandrubles,togetherwithothermeasures,
preventedpanicandfleeofcashdeposits.Howevernotalltheintroducedtools
haveprovedtheirviability.«Unusual»dynamicsofrefinancingrateledtoits
counterbalancetoglobaltendencies:frombeginningofthecrisisitwasraisedto
13%,andthendecreasedto7.75%.
Thequestionabouttargetsandeffectiveexpendituresofpublicfinanceson
anti-recessionaryprogramsisextremelyimportant.Themechanismformonitor-
ingtheefficiencyofhugebudgetspendingdealswithlegislation
3whichestab-
lishesrequirementsforemployeesoftheBankofRussia,whoareappointedby
authorizedrepresentativesincreditorganizationsgettingthestatesupport.They
shouldparticipateinthemeetingsofthegoverningbodiesoftheseorganiza-
tions,indecision-makingconcerningcredits,inmanagementofliabilitiesand
assets,inreceivingtheinformationonintentiontocarryoutthetransactionand
3
TomonitortheeffectivenessofsupportfundingtotheRussianfinancialsystemadoptedFederal
Law30.12.2008No.317-FZ«Onamendmentstoarticles46and76oftheFederallawof10Ju-
ly2002,No.86-FZ«AbouttheCentralBankofRussianFederation(BankofRussia)»andalso
toInstructionsoftheRussianFederationCentralBankfrom2/9/2009No.2182-U«Aboutan
orderofappointmentoftheauthorisedrepresentativesofBankofRussia,realisationtheiractiv-
ityandterminationsoftheiractivity»,Instructionsfrom2/9/2009No.2181-U«Abouttheorder
ofgrantingbycreditorganisationsoftheinformationanddocumentstotheauthorisedrepre-
sentativesofBankofRussia».
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