scholarly journals ABOUT THE DEFINITION OF OPPORTUNITIES AND CONDITIONS FOR IMPROVEMENT OF THE FINANCIAL RESOURCES MANAGEMENT OF THE STATE UKRAINE

2018 ◽  
pp. 43-53
Author(s):  
V. P. Petrenko ◽  
I. M. Danyluk-Chernykh
Keyword(s):  
Financial Services ◽  
Financial Management ◽  
Banking System ◽  
Effective Solution ◽  
Resources Management ◽  
Market Participants ◽  
National Bank ◽  
Innovative Potential ◽  
Synergetic Model ◽  
Definition Of

The purpose of this article is to seek and identify the conditions for the harmonization of the interests of financial market participants, in particular, the regulator – the National Bank of Ukraine, the banking system and consumers of financial services. The article contains interpretation of the financial system as a classical self-regulated link covered by somefeedback. The authors of concluded that the innovative potential of financial management shouldbe sought in improving financial management components of the integral intelligence of humanresources system. The basics of forming Pareto-optimal interaction of financial marketparticipants are considered. The synarch-syntellect-synergetic model of the behavior of themanagement and human resources is presented can become the most effective solution becauseof the appeal to the system's "shared mind" in order to obtain the desired result.  

scholarly journals FORMATION OF UKRAINE TRANSPARENCY BANKING

2019 ◽  
pp. 35-41
Author(s):  
T. Savchenko ◽  
L. Mynenko
Keyword(s):  
Development Strategy ◽  
Financial Market ◽  
Financial Institutions ◽  
Financial Services ◽  
Banking Sector ◽  
Banking System ◽  
Market Participants ◽  
Financial Organization ◽  
Credit Bureaus ◽  
National Bank

The article analyzes requirements of the National Bank of Ukraine for transparency of banks, banking groups and non-banking financial market participants. Transparency development process in the Ukrainian banking sector considered in a dynamic and in context of the EU's transparency requirements. Authors came to conclusion that the National Bank of Ukraine have to extended last achievements at banks transparency issues on activities of banking groups and to non-banking financial institutions. This conclusion based on rudiments of effective supervision of banking groups on a consolidated basis, as well as the adoption by the Verkhovna Rada of Ukraine of the Law on "Split". This law extends the National Bank's responsibility in the supervision of non-banking financial institutions (insurance, leasing, financial companies, credit unions, pawnshops and credit bureaus) since July 2020. Therefore, the National Bank should introduce new regulatory requirements to increase the transparency of banking groups and non-bank financial intermediaries. These reforms will establish uniform approaches and standards for disclosure of information on the activities of financial institutions, as well as provide the harmonization of national legislation with EU requirements. Expanding the list of public reporting information and establishing proper reporting intervals will ensure the stable functioning of the financial market and will increase the confidence in the financial system by the users of financial services. These measures will also help management of the financial organization to make informed decisions in defining their development strategy. Besides, they will provide further development of the competitive environment in the financial services industry. Keywords: transparency of banking system, transparency requirements, bank, banking group.

scholarly journals METHODOLOGICAL SUPPORT FOR THE FINANCIAL RESOURCES MANAGEMENT OF AN ENTERPRISE

2021 ◽  
Vol 2 (37) ◽  
pp. 244-251
Author(s):  
L. Obolentseva ◽  
V. Tretyak ◽  
I. Ternova ◽  
І. Sеgеdа ◽  
A. Shved
Keyword(s):  
Risk Management ◽  
Financial Management ◽  
Management System ◽  
Debt Management ◽  
Financial Resources ◽  
Financial Risks ◽  
Resources Management ◽  
Economic Entity ◽  
Wide Range ◽  
Definition Of

Abstract. The article suggests methodological support for the management of financial resources of domestic enterprises based on the definition of the key issues of financial management and its adaptation to existing economic conditions. It has been found out that for the construction of an effective system of financial resources management, it is advisable to take into account the following requirements: the existence of causal relationships between the elements of the system; dynamism, ability to change the qualitative state; possession of a parameter, the influence of which makes it possible to change the course of the economic process. It has been noted that when developing a budgeting system at an enterprise, it is always necessary to take into account the main limiting factors affecting the financial activity of an economic entity from which the budget calculation should begin. Determination of the preliminary set of budget indicators has been identified as the main task of designing a comprehensive budgeting system as a component of the financial resource management system. In order to guarantee the use of effective indicators by all participants in this process, it is necessary to simultaneously apply the principles of design «top-down» and «bottom-up». It has been pointed out that debt obligations are currently a big problem for domestic enterprises. The proposed methods of debt management allow managing the financial resources of the entity based on the definition of key positions of financial management. It has also been mentioned that one of the most important elements of the financial resources management system of an enterprise is risk management, which becomes an integral element and a subsystem of the strategic management of an economic entity. In turn, one of the most important elements of the risk management system in an enterprise is the assessment of financial risks. It has been noted that modern enterprises have the opportunity to use a wide range of methods for assessing financial risks, among which are such clusters of methods as statistical, analytical and expert. The conclusion has been made that in conditions of economic and social instability, economic entities should pay special attention to an integrated system of budgeting and risk management, since at present these two areas are the most important components of the effective management of financial resources of an enterprise. Keywords: financial resources management, enterprise, methodological support, assessment, level. JEL Classification M11, M31 Formulas: 9; fig.: 3; tabl.: 1; bibl.: 10.

scholarly journals Banking system of the country: Elements, functions and potential in ensuring economic growth

2020 ◽  
Vol 23 (10) ◽  
pp. 54-67
Author(s):  
Marta Barna ◽  
Nadiya Ruschyshyn
Keyword(s):  
Economic Growth ◽  
Financial Services ◽  
Financial Stability ◽  
Structural Changes ◽  
Banking System ◽  
Structural Features ◽  
Economic Security ◽  
Original Position ◽  
Institutional Economic ◽  
Definition Of

The banking system plays an important role in the development and functioning of the country’s economy. The purpose of the study was to investigate and summarise the content of the banking system, considering its elements, functions, and potential for economic growth. During the research the following methods were used: theoretical generalisation, system approach, abstract-logical, and logical-analytical. The study examines the statements of scientists on the definition of the banking system from the standpoint of its legal basis and content. The composition of the elements of the banking system is considered in view of the objectively existing integration processes. It was emphasised that it is appropriate to consider the aspect of globalisation when generalising the essential, as well as the criterial features of the banking system. A study on the institutional and institutional-economic approaches to the functioning and development of the banking system. It was determined that the banking system is a sphere of procurement of a number of financial services and through its functioning and development effective levers of regulation are acquired. The study noted the features of the banking system must include the parameters of liquidity and financial stability, sufficient capitalisation, profitability, protection from internal and external risks and threats, financial and economic security, adaptability to the global, and macroeconomic environment. It is advisable to consider such structural features as the ratio of internal and external banking capital, the ability to develop in accordance with modern requirements in terms of information technology progress, information society, and digitalisation of business communications in generalising the essential features of the banking system. Further clarification of the criteria of the banking system will make provision for their identification at the level of each of its elements. The functions of the banking system were identified and generalised. The composition of the applied approaches to the essence of the banking system were expanded and supplemented with structural, security, and strategic ones. The integration of existing and new views on the concept, structure, functions, and role of the banking system in the economy allowed to develop an original position on the content of the concept of the banking system. Structural changes in the country’s economy have a significant impact on the functioning of the banking system. This, in turn, requires the identification of priority areas for structural reform of both the economy as a whole and the banking system, which, in fact, will be the subject of further research

scholarly journals The Innovative Approaches to Estimating Business Models of Modern Banks

2020 ◽  
pp. 26-43 ◽  
Author(s):  
Olena Zarutska ◽  
Tetiana Pavlova ◽  
Аlina Sinyuk ◽  
Valentyn Khmarskyi ◽  
Dariusz Pawliszczy ◽  
...  
Keyword(s):  
Cluster Analysis ◽  
Business Models ◽  
Banking System ◽  
Banking Regulation ◽  
Risk Profile ◽  
Capital Adequacy ◽  
Risk Appetite ◽  
National Bank ◽  
Definition Of ◽  
Innovative Approaches

The analysis of business models of banks is a new approach to determining the financial condition and financial soundness of an individual bank and the entire banking system. The definition and analysis of banks' business models allow understanding better financial and economic activities, risk appetite, and management system. The National Bank of Ukraine moves to SREP based banking supervision. Such an analysis involves the verification of banks' business models for their viability and sustainability. No regulatory act provides a precise definition of these concepts. It is still no single approach to the analysis of business models among scientists and researchers. At the same time, traditional methods that focused on the analysis of the bank's capital adequacy, its liquidity, and compliance with mandatory NBU economic norms are not sufficient. The study shows that most researchers use cluster analysis methods with a variety of sets of variables, the number of cluster groups, and business models. To determine the business models of Ukrainian banks, to analyze them, and to form on this basis the risk profile of each bank, the authors proposed an innovative methodology of structural-functional groups of banks (SFGB-method). The method is based on the use of neural networks, in particular self-organizing Kohonen maps (SOM). For cluster analysis, it is suggested to use the system of financial indicators calculated by the National Bank of Ukraine in the SREP system. The cluster analysis allows identifying ten business models of Ukrainian banks. The article describes the features of each cluster and its propensity to take risks. The distribution of banks by cluster and their place on the map depends mostly on the structure of its assets, liabilities, income, and expenses, currency position, as well as other qualitative and quantitative indicators. The conducted research has confirmed that the definition of business models of banks allows forming the basis for introducing a differentiated approach to banking regulation and supervision, taking into account the essential characteristics of each bank, its risk profile, and the main distinguishing features. Keywords: bank business model, innovative approaches, bank risk profile, structural-functional group, bank.

scholarly journals TRENDS IN THE DEVELOPMENT OF INNOVATIONS IN THE RUSSIAN SECURITIES MARKET

2021 ◽  
pp. 28-35
Author(s):  
E.A. Annenkova ◽  
Keyword(s):  
Financial Services ◽  
Securities Market ◽  
Competitive Advantages ◽  
Scientific Methods ◽  
Market Participants ◽  
General Scientific ◽  
Definition Of ◽  
Private Investors ◽  
High Degree ◽  
Regressive Analysis

The relevance of the problem under study was due to the emergence of new financial technolo¬gies and the creation of prerequisites for their active introduction into the securities market. The activity of the securities market would in many ways expand the opportunities of both the population, represented by private investors and enterprises, which in turn made it possible to solve many problems. Digitalization today has af¬fected all areas of activity, including the securities market. It had an impact on both financial institutions and financial partners. In order to reduce the time spent performing operations, gain competitive advantages over competitors, and attract more customers, securities market entities sought to make as much use of the latest developments as possible in various aspects of performance. Digital transformations in the securities market inevitably entail a rethinking of the views of users and participants in these fi-nas relations. The purpose of the article is to highlight trends in the development of innovations in the securities market and identify the degree of their influence on market participants. In the course of the study, general scientific methods of cognition, such as analysis, synthesis, induction and generalization, were applied. The definition of innovations in the securities market was given, the necessity of their use in the activities of the subjects of the securities market was proved, the main trends were characterized and a regressive analysis was carried out, which proved a high degree of influence of the welfare of citizens and the number of subjects from innovations. In the article, based on the accumulation of the introduction of innovations into the activities of participants in the Russian securi¬ties market, ways of improving them are proposed. It also considered and argued the possibility of creating a financial supermarket based on the Moscow Exchange in the form of a marketplace, which in the future will be able to offer all types of financial services. The results obtained in the course of the study could be used in the formation of a competitive strategy for participants in the securities market in the process of implementing their innovative activities.

scholarly journals DEVELOPMENT OF A MECHANISM FOR MANAGING THE INCOME OF FINANCIAL AND CREDIT INSTITUTIONS IN THE CONTEXT OF ECONOMIC MODERNIZATION

2021 ◽  
Vol 80 (1) ◽  
pp. 53-58
Author(s):  
G. P. Koptayeva ◽  
◽  
M. Kanabekova ◽  
Ye. Zh. Yertayev ◽  
A. B. Orazbayeva ◽  
...  
Keyword(s):  
Financial Management ◽  
Financial Stability ◽  
Banking Sector ◽  
High Efficiency ◽  
Banking System ◽  
Economic Security ◽  
Practical Implementation ◽  
The Stability ◽  
Definition Of ◽  
Credit Institutions

The research is caused, firstly, by the need to specify the definition of financial and credit institutions as subjects of the banking sector of Kazakhstan, analyze and evaluate existing approaches to managing their stability in the strategic aspect and identify factors (possible threats and dangers) that lead to loss of financial stability, and, secondly, by the need to develop a mechanism for managing the financial profitability of financial and credit institutions, ensuring their stable position both in the short and long term. To improve the quality of financial management and ensure the profitability of financial and credit institutions, it is necessary to justify and develop a strategy for managing their financial stability. At the same time, it should be borne in mind that even with high efficiency and profitability, insufficient attention to the issues of ensuring the stability and economic security of financial and credit institutions can lead to financial difficulties for them. Taking into account the problems discussed above, the relevance of issues related to improving the stability mechanism of financial and credit institutions has significantly increased, as has the need to find a new methodological apparatus aimed at adapting and studying foreign experience and its practical implementation in the domestic banking system.

scholarly journals Communication as an instrument for enhancing trust in a central bank: the case of Ukraine

2019 ◽  
Vol 14 (2) ◽  
pp. 106-119 ◽  
Author(s):  
Yuliia Shapoval ◽  
Kateryna Anufriieva ◽  
Svitlana Brus ◽  
Yevhen Bublyk
Keyword(s):  
Monetary Policy ◽  
Exchange Rate ◽  
Central Bank ◽  
Financial Services ◽  
Inflation Targeting ◽  
Banking System ◽  
Communication Strategy ◽  
Necessary Condition ◽  
Communication Policy ◽  
Market Participants

The relevance of trust in the central bank is determined by the rapid growth of the gap between the expectations of a regulator and market participants regardless of the reforms carried out by the NBU. Therefore, the need to use the “non-traditional” monetary policy instruments has enhanced the role of verbal interventions in the context of inflation targeting. The aim of the article is to ground that trust causes adequate rational behavior of the market participants in response to the central bank’s communication policy. The type of this research is an explanatory research method. As determined, trust is the necessary condition for the effectiveness of the central bank’s communication strategy and it favors the achievement of proclaimed objectives. It is established that although since 2014 the NBU activated verbal interventions as an additional instrument to anchor expectations, the increase of transparency does not prompt the trust because of the lack of confidence of citizens in the NBU and high level of stress in the domestic financial sector. It is emphasized that the pursuit of inflation targeting requires expanded communication to gather the expectations of economic agents. The NBU, in its communication policy concerning the economic climate, underlines devaluation expectations, the exchange rate and explanations on the discount rate. However, the deviation of expected enterprises’ exchange rate from the actual exchange rate, growing velocity of money circulation against the declining share of funds involved in the banking system, low monetization level and low penetration of financial services evidence the distrust in monetary policy.

scholarly journals Innovations in the legal regulation of contracts for the provision of financial services

2021 ◽  
pp. 72-77
Author(s):  
Zh.V. Zavalna ◽  
M.V. Starynskyi
Keyword(s):  
Financial Services ◽  
Legal Status ◽  
Legal Protection ◽  
Legal Regulation ◽  
Rights Protection ◽  
Regulatory Frameworks ◽  
National Bank ◽  
Theory Of Law ◽  
Definition Of ◽  
The Given

The article is a topic study of the changes in Ukrainian laws that regulate financial services agreements. The study of this issue is caused by the need to improve the efficiency of the legal regulation of customer rights protection when concluding deposit, credit or escrow agreements with banks. The article provides theoretical analysis of the new provisions in the legislative instruments of the National Bank of Ukraine regarding their compliance with the theory of law and the provisions of the legislative acts, including in particular the Civil Code of Ukraine. As a result of the research the authors come to the conclusion that the additional requirements concerning financial services agreements do not include a clear definition of their legal status nor correlate to the established legislative requirements for the agreements of this type. Such ambiguity can influence both the contents of such agreements as well as the process and the result of their conclusion. Taking into consideration that banks usually conclude such agreements by providing prepared forms, the authors analyze whether it is reasonable to distinguish an individual and public part in the contents of such agreements. Consequently, such notions as “individual part” and “public part” of a financial services agreement that are used in the special legislative instrument requires further research. The practical value of the given study consists in the fact that coordination of new regulatory frameworks in the legal regulation of bank agreements should ensure a clearer definition of the provisions in financial services agreements and, as such, it should provide for the legal protection of customer rights in the area of financial (bank) services.

scholarly journals Restoring Confidence in Consumer Financial Protection Regulation in Australia: A Sisyphean Task?

2019 ◽  
Vol 47 (1) ◽  
pp. 91-120 ◽  
Author(s):  
Andrew Schmulow ◽  
Karen Fairweather ◽  
John Tarrant
Keyword(s):  
Financial Services ◽  
Banking System ◽  
Financial System ◽  
Financial Protection ◽  
Effective Solution ◽  
Financial Products ◽  
The Poor ◽  
Australian Economy ◽  
Financial Scandals ◽  
Regulatory Failure

Consumer financial protection and the integrity of the Australian financial system are critical to the Australian economy in many ways, including the provision of an effective banking system, and the security of Australia’s significant superannuation savings. This is especially the case in an environment where financial products have become more complex and difficult for consumers to understand. In recent years there have been several scandals in Australia’s financial sector that have undermined confidence in the financial system, and exposed regulatory failure. The authors argue that there needs to be a more effective oversight of the key regulators in the Australian financial system to maintain confidence in the system, and prevent capture of the regulators by the financial services industry. The authors contend that the recommendation of the Financial System Inquiry for the establishment of an Assessment Board to provide continuous oversight of the financial regulators is an effective solution to the poor regulatory outcomes encountered in Australia in recent years. The consequences of not having such oversight are likely to be more financial scandals, and further instability in the financial system. These deficiencies must be addressed as a matter of urgency.

PERTANGGUNGJAWABAN KERUGIAN NEGARA DALAM PENGELOLAAN KEUANGAN DAERAH

EDUKASI ◽  
2018 ◽  
Vol 16 (1) ◽  
Author(s):  
Hendra Karianga
Keyword(s):  
Financial Management ◽  
Criminal Liability ◽  
The State ◽  
Legal Proceedings ◽  
Regional Finance ◽  
Regional Budget ◽  
State Finance ◽  
Budget Policy ◽  
Definition Of ◽  
The Impact

Sources of revenue and expenditure of APBD (regional budget) can be allocated to finance the compulsory affairs and optional affairs in the form of programs and activities related to the improvement of public services, job creation, poverty alleviation, improvement of environmental quality, and regional economic growth. The implications of these policies is the need for funds to finance the implementation of the functions, that have become regional authority, is also increasing. In practice, regional financial management still poses a complicated issue because the regional head are reluctant to release pro-people regional budget policy, even implication of regional autonomy is likely to give birth to little kings in region causing losses to state finance and most end up in legal proceedings. This paper discusses the loss of state finance and forms of liability for losses to the state finance. The result of the study can be concluded firstly,  there are still many differences in giving meaning and definition of the loss of state finace and no standard definition of state losses, can cause difficulties. The difficulty there is in an effort to determine the amount of the state finance losses. The calculation of state/regions losses that occur today is simply assessing the suitability of the size of the budget and expenditure without considering profits earned by the community and the impact of the use of budget to the community. Secondly, the liability for losses to the state finance is the fulfillment of the consequences for a person to give or to do something in the regional financial management by giving birth to three forms of liability, namely the Criminal liability, Civil liability, and Administrative liability.Keywords: state finance losses, liability, regional finance.

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