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SHADOW BANKING IN RUSSIA: FACTORS OF PROPAGATION, POSSIBILITIES OF REGULATION

Abstract

The article describes the specifics of the development in Russia of parallel or alternative banking, referred to as «Shadow Banking» in the world practice. Particular attention is paid to the factors ensuring its propagation, risks to the economy, regulation methods aimed at risk mitigation including administrative (administrative prohibitive) and economic (financial and regulatory) methods. 

About the Authors

M. A. Abramova
the Financial University, Moscow
Russian Federation
PhD (Economics), full professor, Head of the Monetary Relations and Monetary Policy Chair»


M. V. Mamuta
the Central Bank of the Russian Federation
Russian Federation
PhD (Economics), Head of the General Office for Microfinance Market and Access to Finance Methodology


References

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2. Federal’naia rezervnaia sistema SShA [the USA Federal Reserve]. URL: http://www. federalreserve.gov/newsevents/testimony/tarullo20140206a.htm (access as of 15.09.2014).

3. Mezhdunarodnye standarty po protivodeistviiu otmyvaniiu deneg, finansirovaniiu terrorizma i finansirovaniiu rasprostraneniia oruzhiia massovogo unichtozheniia. Rekomendatsii FATF [International standards on combatting money laundering, terrorist financing and financing of mass destruction weapons proliferation. FATF Recommendations] URL: http://www.eurasiangroup.org/ ru/FATF_40.php (access as of 15.09.2014). (In Russ.).

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9. Informatsionnyi portal “Mikrofinansirovanie v Rossii” [Information portal “Microfinance in Russia”]. URL: http://www.rusmicrofinance.ru/ (access as of 20.09.2014). (In Russ.).

10. Federal’nyi zakon № 353-FZ “O potrebitel’- skom kredite (zaime)” [Federal Law No. 353-FZ “On the consumer credit (loan)”]. URL: http://base.consultant.ru/cons/cgi/online.cgi?req=doc; base=LAW; n=166040 (access as of 20.09.2014). (In Russ.).

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Review

For citations:


Abramova M.A., Mamuta M.V. SHADOW BANKING IN RUSSIA: FACTORS OF PROPAGATION, POSSIBILITIES OF REGULATION. Finance: Theory and Practice. 2014;(5):55-62. (In Russ.)

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ISSN 2587-5671 (Print)
ISSN 2587-7089 (Online)