11. Ol’ga L. Bezgacheva, Vladimir N. Samotuga

Banks During National Economic Restructring

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Ol’ga L. Bezgacheva

Associate professor at the Department of St. Petersburg University of Management Technologies and Economics, Ph.D. in Economics

Lermontovskiy Ave 44/А, St. Petersburg, Russian Federation, 190103

Vladimir N. Samotuga

Professor at the Department of St. Petersburg University of Management Technologies and Economics, Ph.D. in historical science, associate professor

Lermontovskiy Ave 44/А, St. Petersburg, Russian Federation, 190103

This study is dedicated to analyzing major problems that Russian banks have to solve on their way towards economic restructuring in the context of a complex geopolitical situation and continuation of anti-Russian economic sanctions.
Aim. This study aims to analyze the sequence of activities of the Central Bank and the Russian government on their way towards economic restructuring and determine the efficiency of the applied tools for further consolidation of the national banking system.
Tasks. Structural reforms and economic diversification present the most effective path towards economic recovery. This requires a healthy, stable banking system. In this article, the authors set objectives aimed at the further development of the Russian banking system.
Methods. This study uses general methods of scientific cognition to analyze in various aspects and present in a structured fashion the problems of the modern banking system, examine the policy of the Central Bank and Russian government in the course of economic restructuring in Russia.
Results. Russian banks are cut off from the cheap market funding due to sanctions and unavailability of lending activities in the West. Banks have to rely on Central Bank loans and deposits of legal entities as a source of shortterm funds, and deposits of private individuals for the medium term.
Conclusion. The country’s banking system is inadequate to the requirements of the national economy and cannot provide sufficient resources for the modernization of the country. Its ability to fund the needs of the real sector is significantly hampered by the lack of longterm and cheap financial resources of the banks themselves.

Keywords: banking system, economic recession, economic restructuring, transactional business, small and medium enterprises, sanctions period, anti-Russian sanctions

References

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