Ryaskova E.S. TRANSFORMATION OF THE FUNCTIONS OF THE CENTRAL BANK OF THE RUSSIAN FEDERATION AS A MEGAREGULATOR

DOI: https://doi.org/10.15688/jvolsu3.2018.4.13

Ekaterina S. Ryaskova

Assistant of the Department of Economic Theory, Plekhanov Russian University of Economics, Per. Stremyanny, 36, 115093 Moscow, Russian Federation,  This email address is being protected from spambots. You need JavaScript enabled to view it. , https://orcid.org/0000-0003-3855-4220


Abstract. The article is devoted to the analysis of the actions of the Central Bank (CB) of the Russian Federation as a mega-regulator and identifying the reasons for strengthening the regulatory functions of the Bank of Russia. The text explores the functions of regulation of the financial market in Russia and countries of the world.
In the framework of the current globalization strategy, all of the above functions are within the framework of the mega-regulator both at the state and world levels.
In 2013, an integrated mechanism of supervision of the financial sector of the Russian Federation was created. When creating this institution, the goal of strengthening stability in the financial market came to the fore.
The article discusses the direction of transformation of functions, the main systemic risks and the actions of the Bank of Russia in accordance with these risks against the background of the unfolding global crisis. The current stage of development of the global economy, as well as the relationship and interdependence of all states that make up a single global financial system. Central banks, including strengthening of control over the entire state financial system. Also in the text a lot of attention is paid to the activities of systemic significant banks and analyzes of the actions of the Bank of Russia to regulate these institutions.
The article notes the positive results of the regulation and provides recommendations to improve the supervisory and regulatory activities of the Central Bank of the Russian Federation.

Key words: financial market, the Central Bank of Russia, megaregulator of the financial market, systemic risk of the financial sector.

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