scholarly journals Digital Ruble of the Central Bank of the Russian Federation

2021 ◽  
pp. 32-39
Author(s):  
A. Ya. Zaporozhan
Keyword(s):  
Central Bank ◽  
Russian Federation ◽  
Banking Sector ◽  
Payment System ◽  
Public Consultation ◽  
Practical Implementation ◽  
Competitive Advantages ◽  
Banking Systems ◽  
Digital Currency ◽  
The Russian Federation

The article is devoted to the study of a new financial instrument — the digital currency of the Central Bank of the Russian Federation. The article examines the reason for the emergence of the Central Bank and its difference from cryptocurrency, analyzes the practice of central banks of foreign states in the development and implementation of digital currencies in the financial system, analyzes the potential risks and benefits associated with their emission, as well as its consequences for the banking sector and monetary politicians.The logic of the article is based on the format of the discussion of the report of the Central Bank of the Russian Federation “Digital Ruble. Public Consultation Report”. In the context of the Central Bank of the Russian Federation report, the article analyzes:two possible              options               for         the        emission            of          the        Central                Bank     in                the        form     of          digital   tokens and       accounts on the settlement accounts of the Central Bank;several possible              models               of          central bank     digital   currency             and       technologies                for         their     imple-mentation;competitive advantages       or          disadvantages of          the        payment            system                of          the                Central                Bank     of          Securities in comparison with traditional banking systems.The article substantiates the position that the payment system of the Central Bank of Securities in comparison with traditional banking systems has no competitive advantages. There-fore, the digital currency of the central bank is not very attractive for economic entities, which limits or even prevents its implementation into practice.The way out of the current situation is to use the Central Securities Market in the field of government payments, thereby increasing the transparency of payments.The practical implementation of the digital currency of the central bank can start with state financing of investment projects in digital rubles, and then on a broader scale with budget financing, when all or a limited list of budget recipients will receive budget money in digital rubles. As a result, other economic actors will gradually be drawn into the payment system of the digital currency of the central bank.

scholarly journals Legal policy of the Russian Federation and the People's Republic of China in the area of digitalization of national currency

2021 ◽  
pp. 16-26
Author(s):  
Anna Sergeevna Konopiy ◽  
Boris Andreevich Borisov
Keyword(s):  
Russian Federation ◽  
Social Life ◽  
Banking Sector ◽  
National Currency ◽  
People’S Republic Of China ◽  
Chinese Government ◽  
People's Republic Of China ◽  
Republic Of China ◽  
Digital Currency ◽  
The Russian Federation

The subject of this research is digital national currencies of the People's Republic of China and the Russian Federation. The advent of the new digital era entails inevitable, objectively dictated digital transformations of all spheres of social life. The financial and banking sector in Russia, China, and other countries, is in need for legislative-digital regulation by implementing digital fiat currency. One of the most promising vectors of development is the creation and introduction of new forms of currencies into circulation, which would be recognized by public authority as a legal means of payment, as well as subject to effective oversight by government bodies. The novelty of this research lies in the comparative legal analysis of the experience, as well as the stages of implementation of digital national currency in the Russian Federation and the People's Republic of China. The article raised a pressing issue on feasibility of introducing digital ruble into the Russian reality, and thus, discusses successful experience of the Chinese government that a millennium ago was first to invent paper currency, and now is one of the world leaders to introduce digital currency alongside cash money. The concept of “digital currency” is often identified with cryptocurrencies and payment systems, which prompted the authors to conduct a comparative analysis of these terms. The analysis of Russian and Chinese legislation in the area of digital currency, as well as the established practice of implementing a new monetary form into the country’s economy, allowed outlining the pros and cons of such innovation.

scholarly journals Digitalization of the National Currency: World and Domestic Experience

2021 ◽  
pp. 4-11
Author(s):  
A.V. Ivanushenko ◽  
◽  
E.A. Plyusnina ◽  
A.A. Iatsyk ◽  
Keyword(s):  
Central Bank ◽  
Russian Federation ◽  
National Currency ◽  
Republic Of China ◽  
Digital Currency ◽  
Monetary System ◽  
National Currencies ◽  
Level Of Economic Development ◽  
The Russian Federation ◽  
High Level

The article examines the theoretical aspects of the concept of «digital currency» are studied, the main differences between digital currency and cryptocurrency are indicated. The concept of the digital national currency of the People's Republic of China, the digital yuan, has been predicted and the results of the ongoing digitalization have been identified, which in the future, if the digital yuan project is successfully implemented, will lead to the abandonment of cash. The theoretical aspects of the concept of «digital ruble» are studied, the main differences between the existing forms of money in the Russian economy are outlined: cash, non-cash money and digital money. Based on the study of the re-port presented by the Central Bank of the Russian Federation, potential options for the technical implementation of digital currency within the existing monetary system were identified, and their characteristics were also presented. An assessment of the expected result of the implementation of the concept of the digital ruble is given: the potential ad-vantages and risks of the digital ruble are identified and their comprehensive analysis is carried out. It is concluded that the process of digitalization of national currencies is relevant for the world community, being an indicator of the high level of development of the country's economy. The result of the analysis of the digital ruble project presented in the report of the Central Bank of the Russian Federation is the conclusion about the ambiguity of its implementation at the current level of economic development of our country.

scholarly journals Contradictory tendencies in banking systems of the Slovak Republic and the Russian Federation

2017 ◽  
Vol 1 (2) ◽  
pp. 108-118
Author(s):  
Simona Heseková
Keyword(s):  
European Union ◽  
Russian Federation ◽  
Banking Sector ◽  
Foreign Capital ◽  
Slovak Republic ◽  
Banking System ◽  
The European Union ◽  
European Union Law ◽  
Banking Systems ◽  
The Russian Federation

The paper analyzes the banking systems of the Slovak Republic under the influence of the European Union legislation and banking system of the Russian Federation from the perspective of opening the banking sector to foreign capital. A fundamental difference between the given legislations, which is reflected mainly in the recent period, lies in the degree of openness of the banking system to foreign capital. While the banking system of the Slovak Republic under the influence of the European Union law can be considered as highly open banking system to foreign capital, the legislation concerning the Russian banking system is characteristic by legal limitation for foreign capital entry. The analysis of these contradictory tendencies which have common goal – to ensure a stable banking system could bring important knowledge that may help in resolving the issue of stability of the banking system at the global level.

Strategies of Russian Banks in the Context of Economic Sanctions and the Pandemic Shock

2021 ◽  
Vol 27 (4) ◽  
pp. 304-310
Author(s):  
O. L. Bezgacheva ◽  
V. N. Samotuga
Keyword(s):  
Central Bank ◽  
Russian Federation ◽  
Financial Stability ◽  
Banking Sector ◽  
Banking System ◽  
Equity Capital ◽  
Capital Adequacy ◽  
Russian Government ◽  
Capital Adequacy Ratio ◽  
The Russian Federation

Aim. The presented study aims to examine measures taken by the Russian government, actions of the Central Bank of the Russian Federation (CBR, Bank of Russia), and strategies of banks in the context of continuing anti-Russian sanctions and the coronavirus pandemic while also assessing whether they are sufficient to strengthen the country’s banking system.Tasks. The authors determine what measures are taken by the Central Bank of the Russian Federation to maintain the financial stability of the banking sector and an acceptable equity capital adequacy ratio; analyze the strategies of banks and the way they are adjusted in the context of sanctions and the pandemic; show the role of subordinated bonds as a source of the banks’ own funds.Methods. This study uses general scientific methods of cognition to analyze the problems of the banking system as well as the policy of the Central Bank of the Russian Federation and the Russian government aimed at overcoming the recession and maintaining financial stability in the banking sector.Results. As a result of unconventional decisions taken by the Central Bank of the Russian Federation, the total assets of the banking sector exceeded the pre-crisis level by the beginning of this year. Optimistic forecasts indicate that banks are adapting to changing conditions, adjusting their strategies accordingly.Conclusions. The Russian banking system passed the endurance test during the pandemic, generally maintaining an acceptable capital adequacy ratio. Due to large-scale government support, the economic decline in Russia has slowed down, and there are signs of recovery growth. Banks entered 2021 with an obvious headstart. Almost all banks in the top 200 made a profit.

scholarly journals 5.5. ФИНАНСОВАЯ УСТОЙЧИВОСТЬ БАНКОВ: ЗАРУБЕЖНЫЕ И РОССИЙСКИЕ ПОДХОДЫ К ОЦЕНКЕ

2020 ◽  
Author(s):  
A.V. Morozov ◽  
A.V. Morozov ◽  
A.V. Morozov ◽  
A.V. Morozov ◽  
A.V. Morozov
Keyword(s):  
Central Bank ◽  
Russian Federation ◽  
Financial Stability ◽  
Banking Sector ◽  
Financial Sector ◽  
International Experience ◽  
Comprehensive Assessment ◽  
Financial Indicators ◽  
Systemic Risks ◽  
The Russian Federation

В статье рассмотрены подходы международных и национальных надзорных органов к оценке финансовой устойчивости банков и банковского сектора. Автором показано, что подходы международных надзорных органов базируются на сочетании микропруденциального и макропруденциального анализа и включают комплексную оценку основных финансовых показателей и банковских рисков. Подходы Центрального банка РФ опираются на международный опыт и направлены на обеспечение устойчивости банков к системным рискам в финансовом секторе экономики.The article discusses the approaches of international and national supervisory authorities to assess the financial stability of banks and the banking sector. The author shows that the approaches of international supervisory authorities are based on a combination of microprudential and macroprudential analysis and include a comprehensive assessment of key financial indicators and banking risks. The approaches of the Central Bank of the Russian Federation are based on international experience and are aimed at ensuring the resilience of banks to systemic risks in the financial sector of the economy.

The right to life: A comparative analysis of the relevant norms of the Constitutions of the Republic of Azerbaijan and Russian Federation

2020 ◽  
Vol 10 (1) ◽  
pp. 28-32
Keyword(s):  
Comparative Analysis ◽  
Death Penalty ◽  
Russian Federation ◽  
Practical Implementation ◽  
Right To Life ◽  
Human Right ◽  
The Russian Federation ◽  
The Republic ◽  
The Right ◽  
Criminal Legislation

The relevance of the work is determined by the fact that the right to life belongs to the basic constitutional human rights, therefore, its observance and protection is the duty of the state. Despite its undeniable importance, today the right to life anywhere in the world is not really ensured in sufficient quantities. The constitutional consolidation of the right to life raises a number of issues related to the concept, nature, legislative and practical implementation of this right. It should be noted that various aspects of the human right to life were considered in the scientific works of G.B. Romanovsky, O.G. Selikhova, T.M. Fomichenko, A.B. Borisova, V.A. Ershov and other Russian authors. The aim of the study is to study and comparative analysis of the legal content of the constitutional norm that defines the right to life, to comprehend and identify possible problems of the implementation of this right. To achieve this goal, this article discusses relevant issues of ensuring the right to life, proclaimed by Article 20 of the Constitution of the Russian Federation and Article 27 of the Constitution of Azerbaijan Republic. The results of a comparative analysis of these constitutional norms and the relevant norms of industry law allow us to determine, that there is no contradiction between Article 20 of the Constitution of the Russian Federation and the norms of the criminal legislation of the Russian Federation, which imply the death penalty as an exceptional measure of punishment, because a moratorium has been imposed on the death penalty in the Russian Federation since April 16, 1997. However, after the abolition of the death penalty in the criminal legislation of the Republic of Azerbaijan in 1998, there was a discrepancy between parts II and III of Article 27 of the Constitution of the Republic of Azerbaijan and the criminal legislation of Azerbaijan Republic that requires the introduction of the necessary changes in the content of the analyzed constitutional norm. The value of the work is determined by the fact that the introduction of appropriate changes will contribute to the further improvement of the Constitution of the Republic of Azerbaijan and the effective implementation of the right to life of everyone.

Spatial Development of Innovation Systems in Russia

2014 ◽  
Vol 9 (4) ◽  
pp. 289-304 ◽  
Author(s):  
Lidija Sergevna Arkhipova
Keyword(s):  
Economic Development ◽  
Russian Federation ◽  
Chemical Industry ◽  
Innovation System ◽  
Machine Building ◽  
Competitive Advantages ◽  
Regional Aspect ◽  
Level Of Economic Development ◽  
The Russian Federation ◽  
Effective Development

While the development of the country's national innovation system as a whole is very important and should be prioritized, its regional aspect is even more important. The specifics of the Russian Federation's transition to an innovation-based economy is in that that, at the present time, prioritized is the need to ensure the effective development of those economy sectors that underlie the country's specialization and may provide regional and national competitive advantages. To such sectors belong the chemical industry, machine-building and power energetics. We would like to note that initial innovation awareness indicators in the regions are comparable and do not differ greatly but the growth of activity can be observed only in some of the regions. The problem of large differentiation among the constituent entities of the Russian Federation by their level of economic development remains important and has to be dealt with. 

Central bank digital currency: the future of institutional changes in the banking sector

2021 ◽  
Vol 2021 (2) ◽  
pp. 26-48
Author(s):  
Volodymyr MISHCHENKO ◽  
◽  
Svitlana NAUMENKOVA ◽  
Svitlana MISHCHENKO ◽  
◽  
...  
Keyword(s):  
Central Bank ◽  
Financial Stability ◽  
Banking Sector ◽  
Central Banks ◽  
Credit System ◽  
Bank Supervision ◽  
Bank Of China ◽  
Digital Currency ◽  
Financial Monitoring ◽  
The Impact

The purpose of the article is to reveal the essence and features of the introduction of digital currency of central banks and their impact on the conditions of monetary policy, financial stability, as well as institutional transformations in the development of national banking systems. The study is based on an analysis of projects of issuance and use of digital currencies of the ECB and central banks of leading countries, as well as the results of pilot projects of the National Bank of China on the use of the digital yuan and NBU on the e-hryvnia circulation. It is proved that digital currency of the central bank should be considered as a new dematerialized form of national currency in addition to cash and non-cash forms. Particular attention is paid to the study of the impact of the use of digital currency by central banks on the main parameters of economic policy. The main directions of potential influence of digital currency use on transformation of mechanisms of realization of monetary, budgetary and tax, macroprudential policy, maintenance of financial stability, activization of action of channels of the monetary transmission mechanism, and also on reforming of system of the state financial monitoring and bank supervision are substantiated. It is determined that one of the consequences of the use of digital currency will be the ability to ensure full control over all monetary transactions, which will help reduce the shadow economy and corruption. Structural and logical schemes of centralized and decentralized models of issuance and circulation of digital currency of central bank have been developed, directions of changes in the structure and functions of commercial and central banks, as well as in the structure of the financial and credit system in general have been substantiated.

POTENTIAL OF BANK CURRENCY TRANSACTIONS WITH CRYPTOCURRENCY IN RUSSIA

2021 ◽  
Author(s):  
Юлия Борисовна Арон ◽  
Елена Валерьевна Жегалова
Keyword(s):  
Russian Federation ◽  
Banking System ◽  
Legal Regulation ◽  
Actual Problem ◽  
Digital Currency ◽  
Russian Economy ◽  
The Russian Federation ◽  
Definition Of

В статье рассматривается актуальная проблема интеграции крипто-валюты в банковскую систему РФ. Авторами предлагается определение криптовалюты, обосновывается востребованность использования цифровой валюты в экономике. Рассматривается специфика современного правового регулирования операций с криптовалютой и перспективы его развития в российской экономике. The article deals with the actual problem of integrating cryptocurrency into the banking system of the Russian Federation. The authors propose a definition of cryptocurrency, substantiate the demand for the use of digital currency in the economy. The article considers the specifics of modern legal regulation of cryptocurrency transactions and the prospects for its development in the Russian economy.

Features of legal regulation of digital currency in the Russian Federation

2021 ◽  
pp. 90-93
Author(s):  
RISALAT MAGOMEDBEGOVNA MAGOMEDOVA ◽  
RUSTAM KURBANOVICH IBAYEV ◽  
MAGOMED ABDULAYEVICH MUSALOV
Keyword(s):  
Russian Federation ◽  
Legal Regulation ◽  
Digital Currency ◽  
The Russian Federation
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