BANKING SYSTEM
- Internally organized, interconnected, united by common goals and objectives of the set of credit institutions of a particular state.
At an early stage of development banking Central Bank the main difference from the rest is only a function to issue banknotes. Then the role of the Central Bank has increased, and it has acquired the authority for the management of credit institutions. In Russia, the influence of the State Bank has increased at the beginning of the XX century. At the beginning of the 1980s. the banking system of the USSR was represented by the three largest state-owned banks: State Bank, Construction Bank and Vneshtorgbank. They were
monopolized structures, which, along with the service of its customers performed functions of power with a variety of control functions.
In the mid-1980s. banking reform was launched.
In the first phase of banking reform in Russia have arisen in the State Bank: State Bank agroprombank, ICB, Zhilsotsbank, Vneshtorgbank, Sberbank of the USSR. However, they did not differ in function from the three previously existing Banks.
Radical changes in the banking system in 1988 with the creation of the first cooperative banks, created not by law, and based on the free will of their founders.
In the second phase of the state special banks have been converted to commercial. As a result of the conversion two-tier banking system has developed in Russia:
1) The Central Bank of the Russian Federation (BR);
2) credit institutions, as well as branches and representative offices of foreign banks. Credit institutions are divided into banks and non-bank credit organizations.
Non-bank credit organization -Lending organization with the right to conduct individual banking operations stipulated by law and permitted by the license.
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