In many countries, the so-called development banks are a special element of the banking system. We have also created Russian bank development (RosBR). Due to the specifics of their activities, such enterprises are also called political. But, as stated in the report of the Accounts Chamber of the Russian Federation, “today RBD operates almost like an ordinary commercial bank, which contradicts the global practice of development banks.” What are distinctive features activities of development banks? For what purpose are they created? How are their assets and liabilities formed?
DEVELOPMENT BANK - special state and semi-state (rarely private) investment institutions engaged in long-term lending to industry, agriculture, construction and other industries. Unlike commercial banks B. r. do not accept deposits from depositors and enterprises, do not carry out settlement and payment transactions, do not provide short-term loans.
World development institutions (WB, IMF), regional development banks (EBRD, inter-American - IADB, Asian - ADB, etc.) have a very important function. They are not so much a tool for redistributing money between countries as intermediaries in shaping the best practices of economic development. All these institutions are doing a lot of analytical work. Its result is a variety of publications, working papers, etc., in which models of the "correct" and "wrong" conduct of economic policy are gradually developed.
Bank for Development and Foreign Economic Affairs (Vnesheconombank, VEB)
A state corporation established to invest in priority sectors of the economy, as well as to help attract foreign investment and provide financial support for export-import policy. Established in 2007 based on Vnesheconombank (VEB) and inherits its name.
Vnesheconombank acts in order to increase the competitiveness of the economy of the Russian Federation, diversify it, stimulate investment activities through the implementation of investment, foreign economic, insurance, consulting and other activities provided for by this Federal Law for the implementation of projects in the Russian Federation and abroad, including with the participation of foreign capital aimed at developing infrastructure, innovations, special economic zones, protecting the environment, supporting the export of Russian goods, works and services, as well as supporting small and medium-sized businesses.
When performing its functions, Vnesheconombank performs the following banking operations:
1) attracts funds in deposits legal entities participating in the implementation of Vnesheconombank projects;
2) opens and maintains bank accounts of legal entities participating in the implementation of Vnesheconombank's projects, correspondent accounts with the Central Bank of the Russian Federation, credit institutions in the Russian Federation, foreign banks and international clearing and settlement centers;
3) places the attracted funds specified in paragraph 1 of this part on its own behalf and at its own expense;
4) makes settlements on behalf of legal entities, including those participating in the implementation of Vnesheconombank's projects, including correspondent banks, on their bank accounts;
5) carries out the purchase and sale of foreign currency in cash and non-cash forms;
6) carries out collection of funds, bills of exchange, payment and settlement documents and cash services for legal entities participating in the implementation of Vnesheconombank's projects;
7) issue bank guarantees to legal entities participating in the implementation of Vnesheconombank's projects.
A development bank is a state or private bank(corporation), engaged in investments in the economy, long-term lending major projects. The Bank does not accept deposits from individuals and legal entities, does not carry out settlement and payment transactions, and does not provide short-term loans.
The current structure of the system of development financial institutions is aimed at providing support at the international, regional and national levels.
In most countries of the world (including not only the EU countries, but also China, Kazakhstan), national development institutions play important role in ensuring the pace and dynamics of economic growth, and during the crisis they play a stabilizing role.
Among European countries, one of the leading positions in the use of development institutions belongs to Germany. In this country, the Development Bank is a tool to support public policy in the most promising areas, such as the financing of small and medium-sized businesses, the development of technology and innovation, and a number of others. A group of 5 KfW banks provides loans to businesses in the field of construction, infrastructure, education, environmental protection, and finances small and medium-sized businesses.
China, like Germany, devotes to development institutions Special attention. The China Development Bank (CDB) is the largest of the three national state-owned development institutions, an export-import bank and an agricultural development bank. The activities of the CBD are aimed at promoting the growth national economy and development industrial production, and the main task of the bank is to provide financial support to leading state corporations not only within the country, but also abroad. The China Development Bank is involved in financing agriculture, telecommunications systems, railway construction, as well as high-tech projects.
On the territory of the CIS, the undisputed leader in the use of development institutions is Kazakhstan. Since 2001, as part of the implementation of the strategy of industrial and innovative development, which provides for Kazakhstan's entry into the 50 most competitive countries in the world, as well as doubling GDP, increasing labor productivity and turning the country into a developed service and technological center of the region, state development institutions have been created, such as: Development Bank of Kazakhstan JSC, investment and innovation funds, marketing and analytical research center, export credit insurance corporation. By mid-2006, there were seven development institutions operating in Kazakhstan. Since March 2006, all of them have been united in the Kazyna Sustainable Development Fund, whose task is to coordinate actions state institutions development and systematization of work with private investors.
(Based on materials from the National Development Bank, http://www.nbd.ru, http://www.banknbr.ru)
JSC "National Bank for Development" (NBR) has been operating in the Russian financial market since November 28, 1991, has General licenses for banking operations in rubles and foreign currency and professional market participant valuable papers.
Included in the 200 largest banks in Russia, in the 1st quarter of 2004
The shareholders of the National Development Bank are OJSC Aeropribor-Voskhod, OJSC Ramensky Instrument-Making Plant, Ramenskoye Instrument-Making Design Bureau, OJSC Perm Research and Production Instrument-Making Company, NPO Radio-Physics, Moscow Development Institute, etc.
The National Development Bank is a member of the Association of Russian Banks, a member of the RTS Stock Exchange, the Moscow Interbank currency exchange(MICEX), St. Petersburg Stock Exchange and St. Petersburg Currency and Stock Exchange (SPCE).
To date, the NBR fully satisfies the demand of clients for a range of lending services, including leasing financing and short-term loans within the framework of the Corporate Resource Center. The National Development Bank provides services to corporations and constituent entities of the Russian Federation in organizing bond issues and ensures the liquidity of bond issues.
At the end of 2002, the NBR acted as a co-underwriter (one of the guarantors) of the state bonded loan of the Khanty-Mansiysk Autonomous Okrug and facilitated the effective placement of bonds in this region in the amount of 1 billion rubles.
The National Development Bank is included in the list of official market makers (market maker-manager of the stock exchange, who monitors the course of trading, informs market participants about prices, rates, dividends) of the RTS Stock Exchange.
The National Development Bank is universal commercial bank interacting with banks, corporate clients and individuals. At the same time, the main activity is servicing the manufacturing sector of the economy.
Strategic directions of activity
To expand its activities in the Russian regions, in October 2003 the National Bank for Development launched a new long-term lending program for small businesses and individual entrepreneurs in the regions of Russia.
The program for expanding the regional presence of the NBR is designed for several years. During the first stage - a year from the moment the program was launched - branches, departments and representative offices of the bank will appear in 10-12 cities of Russia. At the moment, the bank's branches and offices operate in Moscow and St. Petersburg, in September the bank began operations in Lipetsk, and in October it is planned to start operations of the NBR in Voronezh.
Before making a decision to start work in a particular region, experts and analysts of the NBR carry out constant monitoring and assessment of the socio-economic situation. For its regional expansion and implementation of the small business lending program, the NDB primarily selects regions with economic potential.
The NBR's small business lending program has a number of advantages over similar programs of other banks.
The main difference between the program proposed by the NDB is the simplicity and speed of obtaining loans. Loans are provided to organizations and private entrepreneurs, regardless of whether they are bank customers and whether they have a credit history. For filing loan application a minimum package of documents is required, and the terms of consideration do not exceed 5-7 working days. The main condition for obtaining a loan is that the potential borrower must be a commercial enterprise with at least one year of experience.
The National Development Bank issues loans ranging from 150,000 to 1.5 million rubles. for popblenny working capital organization, small investments, and consumer needs enterprises. Loans are provided for a year.
The program provides for a flexible loan repayment scheme: in equal monthly installments or, if the business is seasonal, in a mode convenient for the entrepreneur. NDB lending conditions allow the client to optimally calculate their debt repayment options, taking into account seasonal fluctuations in revenue and current financing needs.
The NBR lending program for small and medium-sized businesses has successfully established itself in Moscow and St. Petersburg. During this time, the bank's loan portfolio has doubled, and at the moment it is 2 billion rubles.
In 2004, the National Development Bank summed up the results of the first year of the implementation of a long-term program for lending to small enterprises and individual entrepreneurs in the regions of Russia. Since the start of the program, 10 NBR credit and cash offices have been opened in the Central Region: in Lipetsk, Voronezh, Vladimir, Belgorod, Tver, Yaroslavl, Kaluga, Ryazan, Saratov, and Smolensk. During this time, about 3 thousand loans were issued to small businesses and individual entrepreneurs in the regions for a total amount of more than 2.2 billion rubles. In 2004, the share of loans provided by the NBR to small businesses is 18% of the total lending, of which 12% is in the regions.
The results of the first year of the implementation of the NDB program indicate that in the Russian regions there is still a high demand for affordable bank loans from small businesses. The basis of the client base of the NBR in the regions is trade organizations retailers and wholesalers of food products and consumer goods, as well as enterprises and firms providing transport, household and other services to the population.
Small businesses and individual entrepreneurs in the regions need loans to replenish working capital, develop business, purchase equipment and rent premises. At the same time, the most popular is a loan in the amount of 300 to 500 thousand rubles. The preferred loan term is 12 months; loans for a period of 3-9 months are also very popular.
The results of the lending program for the first year of its implementation confirmed the forecasts of the specialists of the National Development Bank that small businesses in the regions are creditworthy. “Today, less than 1% of loans have arrears in debt repayment,” said Inna Naumova, head of the NBR's lending department. However, the development of small business lending in the regions is hampered by such factors as an acute shortage of qualified local banking specialists, the absence of an official financial statements and documentation of organizations, the low level of qualification of entrepreneurs, the general distrust of financial institutions and credit services.
In 2005, the implementation of the small business lending program in the regions remains a priority for the NBR. The Bank will continue opening credit and cash offices in the Central region, and will also begin to develop the Southern region of Russia. When choosing regions and cities for opening credit and cash offices, the NBR focuses primarily on the level of economic development and the degree of activity of small businesses in these territories.
In August 2004, the National Development Bank launched a long-term project jointly with the Moscow International Currency Association. The new project is an exclusive partnership between the NDB and MMBA. It was developed on the basis of the DELTA MMBA program, which has proven successful in the banking market, and represents a new technology for working in the interbank foreign exchange market with the possibility of using the best quotes with minimal risks from banks. The main goal of the new project is the development of interbank cooperation, the improvement of the technology for conducting transactions in the interbank currency and money market.
According to the areas of activity, NBR clients are divided into three segments: corporate clients, individuals, banks. Each segment has its own set of banking services. one.
Corporate clients are offered the following set of services: V
small business lending program;
> forms of lending corporate clients;
>? settlement and cash services;
> acquiring for trade and service companies;
>- corporate cards;
>? organization of salary projects;
>- corporate resource center;
>- deposits;
>- placement of funds in various sectors of the financial market;
>? operations with securities;
>? depository services;
> operating cash desk outside the cash center;
> "Bank-Client" system;
>? Internet banking system;
> personal manager. 2.
Individuals can receive:
>? deposits;
> plastic cards;
>- NBR credit cards;
>- depository services;
> - various forms of informing about the state of the account. 3.
Banks are offered:
>- interbank lending and conversion operations;
>- settlement operations in Russian rubles;
>- Settlement transactions in foreign currency;
>- documentary operations;
>- transactions with securities;
> promissory notes of the National Development Bank;
> depositary services.
Commodity policy
In November 2004, a new subdivision was created at the National Development Bank - the Department for Development, Methodologies and Technologies of Sales of Banking Products. The emergence of a new department in the structure of the NBR is due to the desire to strengthen the bank's position in its traditional market segments and to master new niches. The key goals of the Development Department, methodology and sales technology are to improve the service for medium-sized businesses - the traditional direction of the NDB's activities, as well as to ensure effective work with small businesses.
The new department is designed to expand and improve the range of banking products and services of the National Development Bank. The main advantage and difference between the Department for Development, Methodology and Technology of Sales of Banking Products of the NBR from similar departments in other banks is an integrated approach to solving the tasks set. One division concentrates the full range of functions for the creation and improvement of banking products: conducting marketing research on market needs, creating and implementing innovative products and services, analyzing their quality and efficiency, and studying customer service standards.
Priority attention in the activities of the new department is planned to be given to the creation and implementation of new loan products and services for medium and small enterprises, improving the mechanisms for lending to small and medium-sized businesses. In order to build a mass lending system for enterprises in this market segment, the NBR will develop innovative products and technologies that are maximally adapted for this client group. According to the NBR experts, these steps will help increase the bank's competitiveness in the legal entity lending market and the dynamic development of the lending program.
Consider the main services provided to NBR clients. Services for corporate clients
Settlement and cash services
Settlement and cash services provide a wide range of operations.
>? Opening and maintenance of accounts (in rubles and foreign currency).
>- Crediting funds to customer accounts on the day they are received by the bank.
>? All types of non-cash payments in rubles on the territory of the Russian Federation.
>- Extended business day, making payments in rubles and foreign currency with "same-to-day" debiting.
>- Buying and selling foreign currencies against Russian rubles and other currencies on the MICEX UTS, MICEX SELT, on the interbank foreign exchange market.
> Urgent currency conversion.
> Mandatory sale of foreign exchange earnings on the MICEX.
>- Operations with cash currency.
> Ability to manage funds credited to the client's account on the day of crediting.
>- Bank transfers.
> International settlements for commercial and non-commercial transactions in all internationally accepted banking practice forms, including documentary letters of credit and collections, guarantees.
>- Acceptance for collection and payment of checks of foreign banks.
>- Free consultations of qualified specialists on currency regulation and the choice of forms of payment for foreign trade transactions, the development of payment sections of contracts.
> Providing account statements to the top business day as of the current morning.
> Settlements through the Bank-Client electronic system (in rubles and foreign currencies).
> Provision electronic statements accounts through communication channels.
>- Carrying out intra-bank payments and operations related to cash services.
>- Provide cash no later than the next day after the application.
>? Quick execution of any certificates: on the availability and status of the account, the absence of debt, for submission to customs, etc.
>- Collection and delivery of cash and valuables.
Small Business Loan Program
Credit experts of the bank have developed optimal forms of lending of any kind commercial activities taking into account the requirements of a specific business project.
Individual work with each client of the bank, flexible lending conditions, significant credit resources are used to ensure the stability of the client's business and create favorable conditions for its development.
Benefits of the NBR Small Business Lending Program: >- decision to issue a loan within 7 working days;
> lack of turnover on settlement accounts does not affect the loan amount;
> no need to open a current account;
>- the minimum package of documents;
> individual loan repayment schemes;
>- a flexible approach to the selection and evaluation of collateral;
> - assistance in obtaining a loan.
Loans are provided to legal entities of any form of ownership and private entrepreneurs without forming a legal entity.
The loan amount is from 300 thousand rubles. in Moscow, from 100 thousand rubles. in other cities. The loan term is up to 1 year for working capital and trading operations and up to 2 years for the acquisition of fixed assets. Repayment schedule: interest repayment monthly; loan repayment - according to individual schedules, taking into account the seasonality of the business. The use of credit funds is possible to replenish working capital and trading operations, expanding business, opening new outlets, purchases of production and commercial equipment, vehicles, real estate purchase, construction, etc. Loan security - property pledge, surety, guarantee, real estate. As collateral can be used: transport, personal property, goods in circulation, deposits in banks, bills of financially stable companies, other types of liquid property. The mortgagor can be the borrower himself, as well as third parties (individuals and legal entities, private entrepreneurs). The amount of collateral in the form of property collateral must cover the loan amount and interest for the expected loan term.
The main requirements for the borrower are as follows:
^ potential borrowers must be reliable commercial enterprises;
^ work experience - at least 6 months;
^ territorial location - within 20 km from the city where the bank's office is located.
Corporate Resource Center
Corporate Resource Center (CRC) - a new range of banking services for legal entities for short-term lending and placement of short-term funds on deposits using a new technology of operation in a mode of increased efficiency.
The corporate resource center allows clients to pursue a very flexible financial policy, relying not only on their own resources, but also on the support of the bank. The provision of a short-term loan by the client through the center is a low-risk operation, since the bank acts as a guarantor of the loan repayment.
KRC is trading floor short-term funds, where enterprises can place and raise funds by analogy with the interbank market. The main functions of the bank are to guarantee the return of funds, maintain current liquidity, smooth out exchange rate fluctuations, as well as provide technological and organizational support.
Clients of the CRC can be enterprises that, at the end of the day, have a balance of funds that they want to place at interest for a period of 3 to 14 days, and / or need short financing for a period of up to 14 days to cover the so-called cash gaps and timely fulfillment of their obligations.
The corporate resource center provides:
>- same-day placement of temporarily free funds from 3 to 14 days;
>? attracting short loans "to the same day" from 1 day to 14 days to eliminate cash gaps to the maximum favorable conditions;
> transactions for lending and placement of funds in a matter of minutes;
>- full automation of the exchange of information and the conclusion of transactions using standardized forms (all operations are carried out through the remote account management system "Bank-Client");
>- informing clients about current rates on a daily basis;
>- accrual of interest on placed deposits immediately after the expiration of the deposit term, and interest for the use of credit resources - at the end calendar month;
>- the ability to use the services of the CRC both in both sections of the Center, and in one of them at the choice of the client.
Operations with securities, operations in the stock market
The National Development Bank, being a member of the MICEX, RTS, SPVB, FB "St. Petersburg", on the basis of a license of a professional participant in the securities market to carry out dealer, brokerage, depositary activities, as well as activities for trust management securities offers to place funds without limitation minimum amount for any period in the stock market: all types of transactions with government, corporate securities and bills.
The NBR provides its clients with the opportunity to conduct transactions on stock exchanges using the online trading system.
The bank is equipped with client rooms, all clients are offered daily analytical reviews and consultations of a personal broker, assistance in forming a portfolio of securities, development of investment strategies. For newbies stock market training programs have been developed. Acquiring is the provision by banks or acquiring companies of the acceptance of plastic cards by trade or service enterprises as payment for goods and services. At the same time, the acquirer guarantees the timely transfer of funds to the company's settlement account.
Acceptance of plastic cards for payment provides bank customers with a number of competitive advantages:
> increases the client's profit by attracting new clients - plastic card holders;
>? improves the client's image, as only stable and reputable companies can accept plastic cards for payment;
> reduces the cost of collection services;
>- reduces the risk of losses as a result of fraud or acceptance of counterfeit banknotes;
> eliminates errors typical for cash payments; > allows you to optimize the accounting for the release of goods and services. The National Development Bank offers enterprises to use the services of the bank in the field of acquiring, while:
>? almost the entire range of payment systems is used: VISA, Eurocard/MasterCard, Diners Club, JCB, American Express, Union Card;
> the organization itself determines the procedure for accepting cards;
>- the bank provides the client free of charge with equipment (electronic payment terminals), consumables and promotional materials necessary for accepting cards for payment;
>? an organization can have an account both with the National Development Bank and with another bank;
>- the bank trains the personnel of the client company.
Depending on the volume of transactions, acquiring can be carried out using the following types of equipment:
> - imprinters,
>? payment terminals,
> specialized cash registers.
An imprinter is a mechanical device that serves to issue a slip - a special check for payment by cards. When using the imprinter, the cashier:
>. makes an imprint of the card on the slip with the help of an imprinter;
> enters the necessary data of the client into the slip;
>. in the future, all slips are transferred to the bank for payment. A payment terminal is an electronic device connected via communication channels directly to the processing center. When making a payment through the terminal, the cashier only places the card in the reader and all further necessary actions are performed automatically:
>- the terminal reads information from the card,
> - draws up a check,
>. Periodically sends to the processing center information about all completed transactions.
The presence of a payment terminal is required when accepting payment electronic cards Visa Electron and Cirrus Maestro, which significantly speeds up transactions and reduces the period for reimbursement of funds for transactions.
Specialized cash registers have an integrated (i.e. built-in) payment terminal that performs the above functions.
Organization of salary projects
Organization of payroll projects using bank cards allows each employee of an organization that has an account with the NBR bank to promptly receive wages to special card accounts in a non-cash way. The organization of salary projects is possible using Cirrus Maestro, MasterCard Mass cards at flexible rates, as well as with the installation of an ATM on the site of the organization on the terms of sale, lease or leasing.
Lending Services
The National Development Bank offers a full range of lending services aimed at the successful development of borrowers' businesses.
Credit services are provided to legal entities and individuals both in rubles and foreign currency, and in other forms:
>- lending in the form of a simple commercial loan, a credit line, as well as short-term loans within the Corporate Resource Center; ^ overdraft (if the account holder has no funds, it can be provided short term loan- overdraft);
^ leasing financing (financing the lease of expensive equipment);
^ financing of factoring operations (assignment of the right to demand payment);
^ financing of documentary operations and bill schemes; mortgage credit lending;
^ provision of guarantees, including for customs;
>- customer credit; V
small business lending.
Operating cash desk
The operating cash desk of the bank, installed on the territory of the client enterprise, ensures the receipt of cash proceeds from the population for goods and services in rubles and foreign currency, its crediting to the company's settlement account, as well as currency exchange operations.
The complex of services provided by the operating cash desk will allow the user of the service to:
^ solve the problems associated with the acceptance, processing and collection of cash proceeds. The bank will take over them;
^ use the funds received from the sale of goods and services on the day the purchase is made by the buyer;
^ attract new customers from among those who prefer to pay in foreign currency;
^ to attract additional customers who will pay attention to the company's products by visiting for the purpose of currency exchange;
^ reduce the service time of one client to 2-3 minutes.
and serve up to 200-250 visitors within one day;
^ increase the competitiveness of the enterprise by providing individuals with the opportunity to pay for goods and services in rubles and foreign currency.
"Bank-Client" system
The "Bank-Client" system is intended for carrying out settlement transactions between the client and the bank. It allows you to quickly receive information about the status of bank accounts through telecommunications networks.
The Bank-Client system allows you to: send to the bank:
> - ruble payment orders;
> currency payment orders;
X applications for the purchase of currency;
>- applications for the sale of currency;
> applications for compulsory sale currencies;
>- messages of a free format (letters, orders, applications for cash withdrawal, etc.);
>- files of arbitrary format;
> requests for extracts; receive from the bank:
>- account statements;
>- responses about the receipt and processing of the document;
>- free format messages (bank rates, other additional and reference information);
>? files of arbitrary format;
> exchange rates.
Internet banking system
The NBR provides its customers with a range of Internet banking services. The client has the opportunity to receive statements and implement secure electronic document management when organizing settlements between the bank and the client through the bank's website. Internet banking guarantees reliable protection against unauthorized access, ease of use and the possibility of remote access to the information required by the client from anywhere in the world, at any time of the day.
Additional services
The package of services offered is developed individually, taking into account the wishes and characteristics of the client's activities, and includes the preparation and implementation of exclusive schemes in the following main areas:
>? organization of issuance wages employees of the enterprise using Russian and international plastic cards, ATMs, etc.;
>- organization of receipt of cash receipts for goods, services at enterprises using registered cash desks, exchange offices, remote offices of the bank;
^ development of original schemes, including on the basis of existing world experience in credit and settlement operations for bank customers;
^ unconventional solutions in construction financial flows enterprises.
An individual client service program, on the recommendation of bank managers, is developed by employees of the Client Business Development Department (ORKB).
Specialists of the client business development department provide expert and advisory assistance in developing strategies and tactics for developing the business of corporate clients.
The programs are further supported by the Institute of Personal Managers, which makes it possible to fully realize the capabilities of a modern universal bank in resolving the financial problems of each specific client.
Services of a personal manager
The duties of a personal manager include:
^ client consultation and assistance in preparation required documents for the implementation of banking operations;
^ preparation, coordination with the client and execution additional agreements regulating the accrual of interest, placement of funds on deposits, collection, installation and control of work electronic systems and etc.;
X coordination with the client of tariffs;
^ selection of individual service schemes, adaptation of standard banking products to the specific tasks of the client, development of business development programs together with the client;
^ preparation of information on banking services at the request of the client, organization of client consultations with employees various departments jar.
Services for individuals Deposits
The National Development Bank offers deposits divided by maturity into two groups:
> demand deposits;
>? term deposits.
Demand deposits are funds in current accounts associated with making settlements or intended use and demand deposits.
Urgent bank deposits- this is money deposited in the bank for a fixed period in the contract.
The deposits offered by the bank for individuals can be opened both in Russian rubles and in foreign currency (USD, euro).
Plastic cards
The National Development Bank offers bank cards of international payment system Mastercard Europe:
> MasterCard Mass is one of the most widespread cards in the world for a wide range of users with stable incomes.
>- MasterCard Gold- a sign of solvency and support of the client's prestige, a convenient means for non-cash payments at trade and service points, as well as when receiving cash at banking institutions and ATMs around the world.
>- Cirrus Maestro - international electronic debit card. The main advantage of this card is its general availability.
>- Diners Club International is an exclusive payment instrument widely known in the world. it club card, the owner of which is a client of the huge Diners Club International service network, covering 200 countries of the world.
Diners Club International Card - allows its owner to take advantage of a wide range of additional free services:
>- issue additional cards to your account for relatives or friends;
>- participation in a wide program of discounts in restaurants, hotels, shops in different countries;
>- access to Diners Club International lounges at airports and business centers;
>. insurance and travel assistance in Russia, CIS and Baltic countries;
>- insurance and assistance in trips abroad;
> tourist services;
>- access to the Global One telephone network.
Types of services using bank cards for individuals: ?
debit card - allows the owner to dispose of sum of money within the balance of funds on his account; V
credit card - allowing the owner to manage funds within the payment limit of the card, provided in rubles and in foreign currency.
Internet statement
NBR plastic card holders are given the opportunity to find out the state of their card account at any convenient time via the Internet. This service free and convenient, allows you to quickly find out the current balance on the card account, independently generate a statement on the card account. If the client has more than one card, but several, it is possible to receive information both on one and on all his cards.
NBR credit cards
JSC "National Development Bank" offers its customers plastic credit cards with the lowest market interest rate (from 9% per annum to 1180).
Credit card benefits: V
a credit card is a fast and reliable way to pay for goods and services, get cash; ?
the loan can be used at any time, in Russia and abroad, in more than 10 million trade and service enterprises, in 1 million ATMs; V
interest on the loan is charged if the client actually used it; V
the credit limit on the card is restored automatically as the funds spent by the client are repaid (revolving credit); V
you can always find out about current debt via the Internet.
credit card as part of the "Gift plastic card" service; V
credit card as part of the Payroll Project service;
> credit card as part of the Status service;
>- credit card with grace period.
For employees of corporate clients of the bank, the NBR offers a plastic gift card with the ability to use a loan within the established limit (the limit is determined by the bank and can range from 500 to 3000 US dollars).
An employee of an organization that has concluded an agreement with the bank as part of a salary project can use a revolving loan in the amount of three monthly salaries.
For clients who have free funds, who want not only to use them, but also to make a profit, the Status service has been developed. By signing an appropriate agreement, the client can receive a credit card with a limit of up to 80% of the deposit amount.
Credit card with grace period. Grace period (GP) is a grace period for lending, provided for a period of not more than 30 days, during which no interest is accrued for using the loan. Billing period(RP) is 15 days following grace period, during which interest for the use of the loan will also not be charged.
The client has the opportunity to use this service within a calendar month, after which a message will be sent to him about the need to fully repay the total amount of the debt no later than the specified date (billing period).
If the client has not fully repaid the debt formed during the grace period before the end of the period specified in the message, then interest on the loan will be charged in accordance with the tariffs for the entire period of actual use of the loan.
The limit on a credit card with a grace period is determined by the bank and can range from $500 to $3,000.
Services for banks
Interbank market
On the interbank market the following services are offered:
> attraction (placement) of rubles, US dollars and euros on the interbank market;
>- conversion operations for all major types of world currencies;
^ provision of interbank loans secured by liquid instruments or based on limits;
^ provision of interbank loans through REPO transactions (securities, upon purchase of which the credit institution has an obligation to re-sell the securities after a certain period at a pre-fixed price);
> - other operations.
Settlement transactions in rubles
^ execution of orders on the account before 16.00 Moscow time, internal write-offs until 17.30;
^ provision of an account statement with transactions for the current day is carried out by 9.30 the next day with the possibility of obtaining intermediate statements following the results of each ICI flight;
^ accrual of interest on the daily credit balance on the account at a fixed rate of 4% (in the amount of 5 to 10 million rubles) from monthly payment interest on the account;
^ the possibility of booking funds on the account for more than high stakes;
^ making payments in the overdraft mode against collateral placed with the National Development Bank or on the basis of limits set for the respondent bank;
^ assistance in the return, change of payment details, search for undelivered and expected amounts to the recipient;
^ the possibility of using any convenient type of telecommunications: TELEX, SWIFT, "Bank-Client".
Operations in foreign currency
Opening and complex servicing of a correspondent account:
^ settlements in US dollars and euros on the current value date;
^ execution of orders on the account in US dollars and euros;
^ competitive tariffs for client, interbank and others;
> USD and EUR transfers with the current value date; I
> withdrawal, deposit of cash US dollars, euros from the account;
> the ability to make payments in US dollars against the expected income without the need to set limits;
>- the possibility of booking funds on the account at higher rates;
> assistance in the return, change of payment details, search for undelivered and expected amounts to the recipient;
> the ability to use any convenient type of telecommunications: TELEX, SWIFT, Bank-Client;
>- purchase / sale of cash currency (US dollars, euros).
Documentary transactions
>- Opening of import letters of credit, advising and confirmation of export letters of credit.
X Obtaining confirmation of obligations (letters of credit, guarantees, etc.) of the National Development Bank in first-class European and American banks.
>- Implementation of "clean" and documentary collection.
>- Possibility of using securities, deposits and other liquid assets as collateral for documentary transactions in agreement with National Bank development.
>- Exhibiting bank guarantees.
> Possibility of carrying out documentary transactions in transit trade.
>- Work with interbank reimbursement (transfers).
>- Consultations on documentary operations.
Operations with promissory notes of the National Development Bank
The promissory note of the National Development Bank is a tool that allows investors to place their free funds. The yield of the NBR bills corresponds to the indicators of the bill market situation, promptly responding to its changes. The buyer of the promissory note has the possibility of guaranteed crediting in the market of interbank credits secured by the promissory notes of the NBR.
Depository services >
Accounting and storage of securities.
^ Informing about the actions carried out by issuers of securities: placement of issues, changes in the parameters of the issue of securities, etc.
^ Informing about upcoming meetings of shareholders of issuers with the provision of materials on the agenda of the meetings. >
Notification of clients about upcoming income on securities, distribution and transfer of income received by clients to the account of the depository.
^ Informing clients about the actions of issuers, registrars and regulators affecting the interests of securities holders. >
Services for re-registration of ownership of securities in the registers of holders of securities.
^ Collection and transportation of documentary securities.
Distribution policy
The geography of NBR activity is connected with the cities of Russia. Branches, departments and representative offices of the bank are open in the following cities:
>- Moscow,
> St. Petersburg,
> - Vladimir,
>- Ryazan,
> Rostov-on-Don,
> Izhevsk,
>- Voronezh,
> Lipetsk,
>? Yaroslavl,
> Belgorod,
>? Kaluga,
> Saratov,
>- Smolensk.
Although banking business has a solid history, marketing principles in banks began to be applied not so long ago. For example, branding in banking underdeveloped compared to industrial companies and retailers trading networks, and not only in Russia, but also in other countries. The impetus for the application of marketing principles in banks was the intensifying competition, not only among financial institutions themselves, but also from large industrial companies that begin to offer various financial services.
Marketing strategy modern bank should be based on an assessment of customer needs for each strategic direction. Application electronic means communications, collection and processing of information allow organizing customer relationship management systems in the banking sector. A complex approach to customers, adaptation of the standard banking product tailored to the needs of a particular client will lead to an increase in customer loyalty and, consequently, an increase in the competitiveness of the bank.
Questions for discussion 1.
What are the problems of the "classical" approach to marketing management in banks? 2.
What are customer relationship management technologies in the banking sector (C RM-customer relationship management) and how do they improve the bank's competitiveness? 3.
Why does the price elasticity of demand decrease when the cost of banking services increases? four.
What is the reason for the prevailing increase in direct marketing spending in the banking industry compared to advertising spending? 5.
Why is high brand value so important in banking? trademarks influences competition from substitute goods and external competitors of banking services? 6.
What is the optimization of traditional banking distribution networks? 7.
Make a matrix of strategic directions of marketing of the NBR Bank " product offer- market segment. eight.
TOPIC 15. NATIONAL ECONOMY AND NATIONAL PRODUCT
Credit organizations for development that carry out the implementation of state tasks should include the Russian Development Bank, the Russian Agricultural Bank, as well as the bank for the provision of export loans and guarantees - the Export-Import Bank.
The implementation of the idea of creating a state investment bank in Russia - the Russian Development Bank (RDB) - began in the fall of 1998. Among the measures developed by the Government to stimulate the development of the real sector of the economy, the creation of the RDB was proposed. The Government Decree on the establishment of the Russian Development Bank came into force on March 10, 1999. According to the Government's order, RBD is a state-owned credit institution in the form of an open joint-stock company with the participation of the state in its authorized capital in the amount of at least 75 percent plus one share.
The main objectives of the RBD are:
accumulation of financial resources of external and internal sources for the implementation of the state investment policy, including the accumulation of a part of depreciation deductions government organizations intended for renovation;
financing and lending investment projects in real sector economy, including those included in the Development Budget of the Russian Federation, as well as other projects included by the Government of the Russian Federation in the lists of projects proposed for implementation with state support;
examination of projects proposed for implementation at the expense of funds under the jurisdiction and disposal of the Russian Development Bank;
lending for the development, production and export of high-tech products, development of production of import-substituting products;
support for investment and other projects in the real sector of the economy by issuing bank guarantees and using other financial and legal instruments;
development of financial leasing of machinery and equipment;
lending to organizations in the real sector of the economy that are experiencing a temporary shortage of working capital, subject to the simultaneous implementation by the Russian Bank of Russia of settlement and cash services for these organizations;
analysis of the actual state of affairs and development of proposals on investment policy issues for submission to the Government of the Russian Federation and the Bank of Russia;
development of business contacts with international and foreign financial institutions on issues investment activity, participation in the implementation of joint projects.
Thus, a large amount of work carried out by RBD was outlined. However, at present, RBD does not fully solve the tasks assigned to it. Among the reasons for the low activity of the RBD, the following should be included: lack of clear certainty in the status of the RBD; low level of bank capital; regulation under a unified banking legislation and the need to comply with all stipulated standards, the lack of an effective lending mechanism.
At present, the question also remains open: how is the specifics of the development bank's activity taken into account and the system of its state support necessary for the implementation of the tasks assigned to it is determined? In particular, taking into account the traditionally low rate of return on lending to the real sector of the economy in Russian conditions, it seems appropriate to develop and legally approve a number of tax and other benefits for the development bank, by, for example, establishing a lower income tax or abolishing this tax; placing part of the required reserves of commercial banks in the bonds of the development bank.
A new stage in the activities of the RBD may be the initiative of the Government of the Russian Federation to legally approve its status and functions, the transformation of RBD into an authorized government bank, as well as a significant increase in the level of its authorized capital. Thus, according to the program approved in early October 2005 by the Government of the Russian Federation additional measures to ensure economic growth, the functions of the Russian Development Bank (RDB) and Roseximbank (Russian Export-Import Bank) should be established by law. On the basis of Vnesheconombank and its subsidiary Roseximbank, it is planned to create a large state-owned specialized export-import bank, and it is planned to secure funding for “infrastructure projects of strategic importance for the state” for the Russian Development Bank. Therefore, it is planned to significantly expand the powers of RBD and legally establish the status of RBD as an authorized bank of the government. The program also aims to eliminate one of the main obstacles to the efficient operation of development banks - the problem of low capitalization. The government proposes to increase authorized capital VEB to 30 billion rubles, and RosBR - from 4.66 billion to 25-30 billion rubles. These funds will be allocated from the state budget, since these banks are 100% owned by the state. So, the Government of the Russian Federation proposes to increase the capital of RBD to 25-30 billion rubles. and adopt a law that will define the expanded functions of the bank, tasks and powers, principles and mechanisms for implementing the bank's programs within the budget process.
The main activities of the bank should be preferential and long-term lending to investment projects, providing guarantees for long-term loans commercial banks, their projects and programs of national importance; examination, selection and analysis of the effectiveness of investment projects with the involvement, if necessary, of leading foreign experts, the implementation of state support for small businesses, the development of financial leasing of machinery and equipment, the attraction of foreign investment, primarily from the resources of international and regional development banks, control over the efficiency of use and return of budget funds.
There is also an opinion among banking experts that all banks, including banks with state participation, should have a common status and operate on the basis of rules developed by the central bank. If the fulfillment of specific state tasks does not allow them to meet the requirements, then it is advisable to call them not banks, but credit agencies or departments specially created by the government. The presented position deserves attention. Similar agencies and departments exist in the foreign practice of financing investment programs. For example, in Germany, the national development institute KfV has the status of an agency and is not a credit institution operating in accordance with the Credit Law. It is formed in accordance with a special law and has special principles of organization necessary for the performance of the tasks assigned to it.
Considering the point of view that it is expedient to organize the RBD in the form of an agency or department, the question arises of the legitimacy of granting it the status of a credit institution. In Russia, the development investment institution under consideration is also an organization providing loans to borrowers as the main activity, so it is advisable to create it in the form of a credit institution. Taking into account that the development bank does not attract funds from the population in deposits, it provides a limited set of specialized banking services, it is possible to organize it in the form of a non-bank credit institution. Activities of national development banks selected countries indicates that successfully functioning national development banks have a non-commercial nature of activity.
RBD also carries out certain work to support small businesses. In accordance with the Federal Law on the federal budget for 2004, which provides for funds in the amount of 2.5 billion rubles. for the purpose of financial support for small businesses, the Russian Development Bank provided loans to small businesses for the specified amount using funds raised under the state guarantee of the Russian Federation from ING Bank N.V. in March 2005. All funds raised by RBD were directed to intended purpose. RosBr opened credit lines to 64 regional banks in all federal districts to finance small businesses. The most active banks were in the Volga and Central federal districts. The Bank's program is aimed at providing financial support to existing enterprises, primarily for the purpose of expanding their activities. The interest rate at which RBD provides funds to regional banks using funds raised under state guarantees is 10.95% per annum (including the RBD margin, which does not exceed 2%). Lending terms for small businesses range from 6 months to 2 years, depending on the needs of a particular borrower, the loan amount is up to 10 million rubles. Currently, more than 70% of loans are issued for 2 years. RBD is simultaneously working to involve local authorities in the implementation of the Program, the Bank has already signed cooperation agreements with 45 regions. To date, the Russian Development Bank has concluded agreements on opening credit lines With regional banks for a total amount of more than 5.2 billion rubles, including 2.7 billion rubles at the expense of the bank's own funds.
It is also a special task for development banks to test the profitability of financed projects and enterprises and thus to ensure that only economically viable projects are carried out. As testified overseas experience, development banks issue loans to the final borrower not directly, but through commercial banks in places. Such intermediary banks can be all efficiently operating commercial banks. Forwarding loans allows commercial banks to carry out long-term financing of investments, which is an important prerequisite for the development of new types of lending services. In addition, competition among commercial banks for the services of development banks is intensifying. Cooperating with commercial banks on the basis of subsidiarity and division of labor, the development bank does not enter into competitive relations with them. It operates only in those areas where commercial banks and the capital market are not sufficiently capable of financing and lending. Since participation in the process of forwarding loans brings profit to servicing banks and reduces risks, their interest in lending to the real sector of the economy increases.
An important aspect of the activities of development banks is their financial stability and reliability, allowing them to consistently attract public funds. With relatively limited access for development banks to money the state plays an important role in their sustainable financing. This, however, does not mean that development banks should rely only on him. To remain efficient and maintain discipline, development banks should increasingly raise funds from alternative sources, for example, in the capital markets. The question of the profitability of development banks also deserves attention. Thus, in 2004 the return on capital of the Japan Development Bank, which specializes in additional long-term financing of infrastructure facilities, was 6.5%, while the return on the Canadian Business Development Bank has averaged 7.1% over the past five years. This is facilitated by such factors as a focus on achieving goals, dynamic leadership and proper accountability, continuous improvement of the professional skills of staff, intensive use of information technologies and progressive working methods.
The activity of development banks, on the one hand, has a positive effect on national production and the banking system, on the other hand, depends on its stability and reliability. The process of "forwarding loans" involves working with servicing banks that meet the reliability criteria. Since the development bank assumes part of the risks, only stable banks can be its partners. In addition, the development bank should promote the interest of commercial banks in lending to investment projects in the real sector of the economy. To this end, extensive information is needed on public investment programs and conditions for granting loans. To expedite the decision-making process for project lending, the development bank should accept standardized applications and provide information on the rules for their preparation.
Considering the experience of development banks in Germany, the Czech Republic and other countries, one should note their great impact on the economy. Through the financing of innovative projects, small and medium-sized enterprises, agriculture, economic infrastructure and environmental protection measures, there is a positive impact on the dynamics of national production.
For Russia, the creation of independent specialized state development institutions both at the regional and federal levels is expedient, provided that they are given the status of a state non-bank credit organization. The problems of the creation of the Russian Development Bank considered in the paper indicate that it is necessary not only to determine in more detail the status of this bank and the measures of the state to support it, but also to use positive international experience in the activities of this development institution.
The Development Bank is a specialized lending financial institution created for the purpose of financing the national economy and serving as an instrument of economic policy.
Development banks have been established and operate in more than 30 countries of the world, currently there are more than 750 of them.
Russian Development Bank - Vnesheconombank developed system child structures. Its activities are regulated separate law No. 82-FZ, which entered into force in 2007. The Rosselkhozbank can also be attributed to the development institutions, whose activities are aimed at the agro-industrial complex within the framework of the national project, although at the same time it continues to function as a standard one.
The first development bank is considered to be the French State Savings, established in 1816. Most of the banks were established in the 1950s with the aim of consolidating efforts to restore the war-ravaged economy.
Development banks generally do not create structural divisions, but transfer a number of operational functions to commercial banks, which in this case act as trusted agents.
Multilateral Development Banks
Multilateral development banks are international non-profit organizations whose activities are aimed at solving the socio-economic problems of the beneficiary countries. Created on the wave of integration processes of the middle of the 20th century, they have become an effective investment tool, especially in the economy developing countries. The largest multilateral banks in terms of lending include the International Bank for Reconstruction and Development, the European, Inter-American, Asian and Islamic Development Banks. One of the big financial structures Development Bank with a capital of $100 billion promises to become the BRICS Development Bank, the declaration on the establishment of which was signed in 2014 by Brazil, Russia, India, China and South Africa.
Types of development banks
Development banks are a symbiosis state structure and a commercial bank, since funds are provided to them by the state, but are provided on the basis of payment and repayment. Depending on the ratio of "political" and "commercial" components, several types of development banks can be distinguished.
- Fully commercial banks. Classic examples banks of this type - the development of Sri Lanka, the Indian Industrial Bank, the Singapore Development Bank. Interestingly, the latter would initially have been created as exclusively National Bank, but after the loss of demand for "political" operations, he moved into the category of commercial ones.
- State banks, which are only a channel for the movement of state capital.
- Development banks with a significant part of the commercial activity. The state in banks of this type owns a certain share of the share capital. In addition to government funding, banks use commercial sources funds, providing classical, as a rule, through created affiliated companies. Examples of banks of this type - Korean industrial bank, French Development Bank.
Activities
Unlike commercial banks, making a profit is not the goal of development banks, although, of course, they strive to break even. The main task of development banks is to redistribute public funding flows to strategically important, but at the same time extremely capital-intensive industries National economy. As a rule, these areas do not bring tangible profits, have a significant payback period or high risks. These traditionally include agriculture, housing construction, as well as foreign trade. Financing is provided through the provision of medium-term and long-term loans under interest rate much lower than in commercial banks. Development banks invest in shares and keep records of promissory notes and insure loans. One of the important functions of development banks is to provide guarantees for the implementation of priority areas of activity for the government. In this regard, development institutions take on the credit risks of other financial structures, thereby stimulating them to increase lending.
At present, the Russian Federation lacks a unified approach to the classification of banks whose capital is fully or partially owned by the state; criteria for classifying bank property as state property have not been defined. There is no complete clarity regarding this issue in other countries. For example, in the World Bank, a bank is considered state-owned if at least 25% of its charter capital is owned by the government.
At the same time, one has to take into account that the problem of state-owned banks and banks with state participation in capital is closely intertwined with two other equally pressing problems - the so-called development banks and large (systemically important) banks. Often, all these aspects characterize individual banks.
So, development banks, as they say, by definition are purely state-owned banks. However, they often belong to the class of large banks. On the other hand, in banking systems In many countries, it is precisely (sometimes only) banks that are state-owned or mainly owned by the state that are systemically important.
State Development Banks, like central banks, can be considered a well-established and justifying attribute of a modern market economy and modern banking organization in most countries of the world. World practice shows that development banks have long been the preferred and effective form participation of the state in the banking systems of even market-developed countries.
The goals of the creation and features of the activities of banks in this category are well known and well described in the literature. It is possible to note their most important features.
They have special status and special purposes activities (tasks). The founders of development banks are individual states represented by ministries and departments, groups of states, as well as international financial organizations (International Bank for Reconstruction and Development, European bank reconstruction and development, Asian Development Bank, African Development Bank, West African Development Bank, Inter-American Development Bank, Scandinavian Development Bank, Islamic Development Bank, etc.).
Wherein legal status development banks can be different: they are created in the form of state corporations, and state (interstate) institutions, and joint-stock companies with 100% state participation.
However, these institutions cannot be commercial organizations in the usual sense of the word.
Today, there are approximately 750 development institutions in the world (and these are mainly banks) and over 700 development banks (the German and Chinese development banks are considered the largest). When creating such institutions, their founders proceeded from the understanding of the fact that to implement some significant development tasks on the basis of a purely market mechanisms impossible.
The purpose of the creation of these banks is socio-economic development in the broad sense of the term, which is enshrined in their charters. Specifically, these banks focus on solving the most important strategic tasks, such as developing a market economy and promoting the sustainable economic growth of the founding states, expanding their trade and economic connections, financial support of ongoing integration processes. More specifically, the activities of development institutions are mainly aimed at financing investment programs and projects in priority areas, including those provided for in the intergovernmental and interstate agreements of the founders, and in order to fully provide credited facilities with banking services, the practice of joint work with commercial partner banks is used.
Establishing government institutions to provide financial services is usually a political decision, and the authorities financial regulation can only have a limited effect. However, behind such a decision is usually an awareness of such an important goal of public policy as the need to deepen and expand financial markets, financial system and relevant institutions to the extent that this is not ensured by the market itself, which allows certain failures that limit access to financing, the elimination of which is impossible by improving the overall economic environment, but requires targeted and direct state intervention. Examples similar situations related to the failures of the financial market, may be, in particular: insufficient collateral from borrowers; lack of data ( credit histories); lack of liquidity or insufficient development of financial markets; underfunding of the financial infrastructure or financial illiteracy of the population. Beyond purely economic reasons that restrict access to finance, there may be strong political opposition to its expansion, for example, from those who fear for their dominant or monopoly position. In order to correct the lack of funding for market conditions the government may pursue a policy of providing missing financial services through public financial institutions, which are therefore needed to compensate for market failures or as an urgent temporary solution.
The special status of development banks is also reflected in the fact that although this credit institutions and, as such, must comply with many of the most important requirements that are typically required of credit institutions (compliance with capital adequacy and liquidity requirements, maintaining an adequate and balanced structure of assets and liabilities, diversifying credit investments, complying with corporate governance standards, ensuring an appropriate level of risk management, safe placement of own and borrowed funds at a given level of profitability, compliance with known principles bank lending, including the target nature of investment and credit operations and proper control over the targeted use of credit resources), they, however, unlike conventional banks, are guided by other rules of law in a number of aspects, pursue non-general goals and objectives determined exclusively by the founders, adhere to the special priorities of the credit and investment policy, which affects, in particular, the choice of certain financed programs and projects.
These circumstances, in turn, predetermine a number of the following specific differences development institutions.
- 1. The structure of the balance sheet of a development bank differs markedly from that of a conventional bank. As a rule, the liabilities of development banks are dominated by resources raised by issuing public debt instruments on international and national markets participating states.
- 2. Development banks do not have such a direction banking as a retail banking business. Accordingly, the balances on individual client accounts do not act as a source of formation of their resource base.
- 3. Development banks form their client policy, product line and organizational structures. The task of increasing the client base by searching for and attracting clients for servicing, as a fundamental direction of active actions inherent in the activities of most commercial banks, is not decisive for development banks.
At the same time, the product range of development banks includes credit lines to commercial banks (for example, for the purpose of refinancing/funding credit investments in one or another investment program of their clients or lending to small and medium-sized businesses) and providing them with subordinated loans.
- 4. Without acting as direct competitors to commercial banks and as if sharing areas of responsibility among themselves, development banks often position themselves as a kind of catalyst designed to expand and diversify private sources of attracted financing.
- 5. Development banks are more demanding in their choice of lending industry. They focus primarily on infrastructure and other priority projects and traditionally exclude such projects as, for example, the production of alcoholic beverages and tobacco production, gambling and others, while putting forward increased requirements for the environmental component of the project being financed. One of the activities of development banks in the real sector of the economy is the financing of investment projects that provide for the modernization and creation of modern energy, heat and water treatment systems, the processing of industrial and domestic waste, as well as other housing and communal facilities that are characterized by high capital intensity and long periods payback. Development banks can also provide financing for municipal development.
At the same time, international experience suggests that in developed market economies, internal governmental support through development institutions, it is most necessary for the housing sector, small and medium-sized and innovative enterprises, agriculture, exporters, the low-income part of the population (support for microcredit organizations), the financial sector (including its infrastructure).
- 6. Being in a different “weight category” compared to most commercial banks and having initially more favorable starting opportunities in terms of capitalization and high international credit ratings, development institutions, as first-class borrowers in the international capital market, use the opportunities for wider access to long-term and cheap credit resources in the required volumes.
- 7. In the activities of development banks, to a greater extent than in conventional banks, there are principles of social and environmental responsibility. For example, for a development bank, when making credit decision such factors as the creation of additional jobs as a result of the implementation of the project, the development of a depressed or narrow-profile region, etc. can be of significant, and sometimes decisive importance.
- 8. State financial institutions may be less profitable (profitable) compared to private ones, since, unlike the latter, they implement the goals of a national or regional socio-economic policy, including those of purely socio-political significance, work mainly with infrastructure and other long-term projects, the economic effect of which is realized in other sectors of the economy, along with other operations, provide financing to less creditworthy or less profitable borrowers. Therefore, and only to the extent of this, a certain proportion of subsidizing the activities of such institutions (for example, in the form of providing them with freer access to financial resources or obtaining those at lower lending rates) has objective grounds.
- 9. In commercial banks and development institutions, the objectives of the policy of formation and diversification of credit and investment portfolios. In general, designed to remain politically unbiased and neutral, development banks nevertheless have a certain political component in their activities, which in certain cases may influence their lending and investment decisions.
- 10. Development institutions can use a combined form of interstate funding, providing project initiators with both investment loans and through direct investment. In the practice of development banks, these are real financial resources, limited by one or another volume (for example, 20% of the project budget). Participation in the capital of credited corporations or banks (limited to a share of 5 to 25% of the capital and a certain period of entry into the capital as one of the owners) is also one of the activities of development institutions and is considered by them as a way to increase capitalization and market value borrower. At the same time, development banks do not claim to participate in the day-to-day management of the relevant structure, however, in without fail require a seat on the board of directors.
The practice of financing investment projects under the guarantees of development banks has been developed to a much greater extent than their guarantee by commercial financial institutions. Providing such guarantees is one of the main activities of development banks. At the same time, the requirement of commercial banks regarding the minimum volume own investments in the project of its initiators is usually higher than the similar requirements of development institutions, and amount to 30 (or more) and 20% of the total project budget, respectively.
- 11. A number of serious problems:
- inadequate interference in their activities initiated by excessive or unjustified political pressure or bureaucratic incentives;
- inefficiency caused, for example, by the allocation of loans for purely political reasons;
- the possibility of these structures acquiring their own material and (or) other interests that are different from the interests of the state and society, and their resistance to restructuring, termination or reduction in the scale of activities despite changing circumstances;
- delay in carrying out the necessary changes, leading to a significant increase in the costs of their implementation.
In general, the position of state development institutions in the economy and the attitude of the public towards them are inevitably ambiguous. On the one hand, they are objectively necessary for the above reasons, but, on the other hand, their inefficiency (socio-economic and financial), if any, costs society too much. Hence the exceptional importance problems of supervision and regulation of their activities(in practice, it merges with the problem of supervision and regulation of other state-owned banks and banks with state participation in the capital), which differs significantly from the traditional problem of supervision and regulation of the activities of ordinary commercial banks (credit organizations).
The oversight and regulation of state-owned banks, including development banks, and state-owned banks, should be more stringent than for private institutions and, in certain respects, meaningfully different. This approach is supported by the following the reasons:
- these banks, if they operate in accordance with their true purpose, take on higher risks than private institutions, and these are risks that are difficult to diversify;
- they have less incentive to improve the quality of governance. Close ties with the government allow creating a bureaucratic non-transparent environment, overestimating risks and hiding losses. Thanks to government guarantees, they are characterized by limited market discipline. They may also be motivated to provide substandard loans based on political connections;
- the financial problems of these banks can have the most serious consequences, especially if they are large and backbone. Since they make up for market failures, if they fail, important industries may be left without funding or the economy will break out. Credit crisis. In addition, the bankruptcy of such an institution will be associated with significant additional budget expenditures.
From a regulator's point of view, development institutions have much in common with banks that are "too big to fail." Their financial insolvency can lead to systemic instability and large budget expenditures.
At the same time, the application of corrective measures is difficult: such institutions cannot be easily liquidated or transferred to external management, recapitalization is costly, and regulatory intervention may have undesirable market or political implications. On this basis, two approaches to these institutions are considered possible: either supervision, similar to that of large, systemically important banks, or "preventive" supervision, where ongoing inspections are designed to detect any problems before they become too big and costly to resolve.
In practice, this means that in well-functioning systems, these financial institutions are subject to strict administrative oversight and audit. So, in Canada, their activities are supervised by the relevant ministries and the treasury; financial statements subject to external audit by private audit firms and public service Auditor General of Canada. In a number of countries, along with administrative oversight, elements of corporate governance are applied (the boards of directors of such organizations, appointed by the government, consist of government officials, representatives of interested industries and independent experts) and ordinary financial supervision. In the United States, government-sponsored financial institutions are supervised by special bodies. However, the advantages of ad hoc rather than general external oversight in this area are not clear.
On the other hand, since the activity of the organizations in question is associated with high and non-diversifiable risks, one could expect that they are subject to the same, if not more stringent, prudential requirements as for private banks. But in practice, things are different. In Western countries, most of these organizations do not have any requirements at all, for example, regarding capital adequacy. Some of them (in Canada, Germany) have voluntarily adopted prudential requirements similar to those for private banks. And for some (Fannie May, Freddie mac and Federal home loan banks) there are much more relaxed requirements.
The experience of the global crisis has shown that effective mechanisms for the supervision of state banks, including development banks, and regulation of their activities have not yet been found anywhere - neither in terms of strictness, nor in terms of a substantive component. Moreover, the supervision and regulation of development banks, as a rule, is less "dense" and much more liberal than necessary (they may not report directly to the banking regulator, and government bodies "do not reach" such work, and besides they usually do not have people who understand banking), and definitely weaker and less professional than the supervision and regulation of private banks. The problem remains open.
In Russia, the situation with development banks is as follows.
The Russian Federation is a co-founder of two international development banks - Black Sea Bank Trade and Development (BSTDB) and the Eurasian Development Bank.
Black Sea Trade and Development Bank is an international financial organization established to support regional development and cooperation of the countries of the Black Sea region. The bank was founded in 1997. Its goals are the development of trade relations in the region, assistance in the implementation of international projects, assistance foreign investment, providing guarantees for the development of trade and economic ties both at the state level and in private business.
Members of the organization are Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey, Ukraine. The headquarters is located in Thessaloniki (Greece).
The authorized capital of the bank is 3 billion SDRs.
Eurasian Development Bank (EDB) (Eurasian Development Bank, EDB) – international organization established Russian Federation and the Republic of Kazakhstan in January 2006 based on the decision of the presidents of the two countries.
The mission of the EDB is to promote the development of the market economy of the member states of the bank, their economic growth and the expansion of trade and economic ties between them through investment activities. The Bank is intended to become a consolidating element of the financial infrastructure and a catalyst for deepening integration processes on the territory of the member states.
The strategic goals of the EDB are:
- promoting sustainable economic development;
- assistance to integration processes;
- development of the infrastructural and institutional basis of a market economy;
- the formation of the bank as a recognized international bank development and integration with a regional focus on the Eurasian space.
Other EDB members besides Russia and Kazakhstan are Armenia (since 2009), Tajikistan (since 2009), Belarus (since 2010) and Kyrgyzstan (since 2011).
The Bank's capital exceeds USD 1.5 billion. It was formed at the expense of contributions from the participating states: Russia - 1 billion US dollars, Kazakhstan - 500 million US dollars, Armenia - 100 thousand US dollars, Tajikistan - 500 thousand US dollars, Belarus - 15 million US dollars , Kyrgyzstan - 100 thousand US dollars
The bank's headquarters is located in Alma-Ata (Kazakhstan).
The bank has a branch in St. Petersburg, representative offices in Moscow, Astana, Dushanbe, Yerevan, Minsk.
When financing investment projects, all other things being equal, the bank considers the following industries, sectors and projects as priorities:
- electric power industry (generation, distribution, energy efficiency);
- transport and transport infrastructure;
- agro-industrial complex;
- high-tech and efficient production using new technologies;
- investment projects implemented using the mechanisms of public-private entrepreneurship.
As a rule, the bank finances projects with a payback period of no more than 15 years and a financing amount of at least $30 million.
Among the implemented investment projects of the EDB:
- construction of the third power unit and reconstruction of existing production capacity Ekibastuz GRES-2 (Kazakhstan);
- construction of the Polotsk hydroelectric power station (Belarus);
- creation of the first in Russia industrial complex for the production of polycrystalline flint;
- reconstruction and development of Pulkovo airport in St. Petersburg;
- creation of a new type of passenger aircraft Sukhoi superjet 100 (Russia);
- construction of the Tikhvin Freight Car Building Plant (Russia);
- purchase of BelAZ dump trucks as part of the technical re-equipment of coal mines of the Siberian Coal Energy Company (Russia);
- as well as the purchase of agricultural equipment for Kazakh grain producers, the development of sea freight transport in the North Caspian region, the utilization and processing of associated gas during oil production, the creation of the first full cycle of tin production in Kazakhstan, etc.
Since 2010, the EDB has been implementing three programs to financial sector member states - support and development of small and medium-sized businesses, support for microfinance, as well as the development of trade finance instruments and the expansion of mutual trade between the member states of the bank by providing targeted credit lines to financial institutions.
The Bank is the manager of the USD 8.513 billion EurAsEC Anti-Crisis Fund established by the governments of Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia and Tajikistan. The objectives of the Fund are to help member countries to overcome the consequences of the global financial crisis, ensuring their economic and financial stability and promoting integration processes in the region.
The Bank provides financial support in conducting pre-investment and innovative research aimed at deepening integration processes in the Eurasian space, strengthening the market infrastructure and ensuring sustainable economic growth of the Bank's member states. For these purposes, the Bank has established a Technical Assistance Fund.
The Bank carries out information and analytical activities. Its priority is to support integration processes in the Eurasian space. The Bank also provides information and consulting services, which include the preparation of analytical reviews of individual sectors of the economy and financial markets of the member states of the Bank and other EurAsEC countries; economic and legal analysis of integration agreements and structures on post-Soviet space, as well as the activities of development banks in the CIS countries.
The first attempt to constitute modern Russia specialized federal state bank became Federal Law No. 82-FZ dated May 17, 2007 "On the Development Bank", which established legal status, principles of organization, goals of creation and activity, procedure for reorganization and liquidation of the development bank - state corporation "Development Bank and foreign economic activity" (hereinafter referred to as Vnesheconombank, VEB), created on the basis of the former Vnesheconombank of the USSR with the transfer to it of the federally owned shares of the Russian Development Bank and the state specialized Roseximbank with the proposed management the amount established by the Government of the Russian Federation, but not less than 70 billion rubles" .
In accordance with this Law on the Development Bank (Article 3), Vnesheconombank:
- acts in order to increase the competitiveness of the economy of the Russian Federation, diversify it, stimulate investment activities through the implementation of investment, foreign economic, insurance, consulting and other activities provided for in the Law for the implementation of projects in the Russian Federation and abroad, including with the participation foreign capital aimed at developing infrastructure, innovations, special economic zones, protecting the environment, supporting the export of Russian goods, works and services, as well as supporting small and medium-sized businesses;
- entitled to exercise entrepreneurial activity only insofar as it serves the achievement of the purposes indicated above and is consistent with these purposes. Vnesheconombank's profit received as a result of its activities is directed to the bank's funds and used exclusively to achieve the goals of its activities.
As indicated, Vnesheconombank in its legal form is a state corporation. In accordance with Art. 7.1 of the Federal Law of January 12, 1996 No. 7-FZ "On Non-Commercial Organizations", this means, in particular, that "the property transferred to the state corporation by the Russian Federation is the property of the state corporation." It seems that this is the wrong decision, which creates the basis for the organization to form its own interests, different from the state ones, which are all the easier for it to implement, since all the net profit of the corporation remains at its own disposal, and is not transferred in a certain proportion, as in the case of the Central Bank of the Russian Federation, to the federal budget. The property of any state corporation must be declared state (in this case, federal) property.
It is possible that the bank has more activity goals than is rational for one organization (see above).
It seems that the main areas of investment activity and the list of sectoral priorities of the bank are also too broad. From the Memorandum of financial policy Vnesheconombank, adopted simultaneously with the Law on the Development Bank, should:
"The main areas of Vnesheconombank's investment activities are:
- implementation of investment projects aimed at eliminating infrastructural constraints on economic growth, including the development of energy and transport infrastructure, infrastructure of housing and communal services, as well as tourism;
- implementation of investment projects aimed at the development of innovations;
- participation in the implementation of projects aimed at improving the efficiency of the use of natural resources, environmental protection and improvement of the ecological situation;
- participation in the implementation of projects aimed at the development of small and medium-sized businesses through lending to credit institutions and legal entities that support small and medium-sized businesses;
- support for the export of agricultural and industrial products and services, including for the purpose of diversifying national exports.
The main sectoral priorities of Vnesheconombank's investment activities for 2007–2010 were:
- – aircraft building and rocket and space complex;
- – shipbuilding;
- – electronic industry;
- – nuclear industry, including nuclear power;
- – transport, special and power engineering;
- – metallurgy (production of special steels);
- – woodworking industry;
- – military-industrial complex;
- - agro-industrial complex.
In fact, VEB, including as an agent of the Government of the Russian Federation, performs a much wider range of functions and tasks. This can be seen, for example, from his "Development Strategy for the period 2011-2015". No specialization of the bank is visible.
Concerning features of regulation of Vnesheconombank's activities, then the following points can be noted in this part (Article 4).
- 1. Legislation on banks and banking activities shall apply to the activities of Vnesheconombank to the extent that it does not contradict the Law on the Development Bank, and taking into account the specifics established therein. Specifically, Vnesheconombank is not subject to the provisions of the legislation on banks and banking activities that regulate the procedure for:
- – state registration KOs and issuance of banking licenses to them;
- – liquidation or reorganization of the CO;
- – providing information about the activities of the CO;
- – implementation of certain types of banking operations (transactions) in the event of a conflict between the Law on the Development Bank and the procedure established in the legislation on banks and banking activities;
- – ensuring the requirements for the stability and financial reliability of the CO, compliance with other mandatory requirements and standards. It appears that these exceptions to general rules, to which banks must obey, in this Law could be much less. First of all, this concerns the indicated points No. 3 and No. 5.
- 2. Vnesheconombank is not subject to the provisions established in paragraphs 3, 5, 7, 10 and 14 of Art. 32 of Law No. 7-FZ "On non-profit organizations", regulating the procedure for monitoring the activities non-profit organizations which does not appear to be conducive to effective control over the activities of a state corporation.
- 3. Main directions and indicators of investment and financial activities Vnesheconombank, quantitative restrictions on attracting borrowed money, limits, basic conditions, procedure and terms for issuing loans and borrowings, participation in authorized capital business companies, issuance of guarantees are established in the Memorandum on the financial policy of the bank, approved by the Government of the Russian Federation, which also determines the procedure for preparing this document, its content and validity.
- 4. The functions, powers and procedure for the activities of the management bodies of Vnesheconombank are determined by the Law, as well as the Regulations on the Bank's Supervisory Board, approved by the Government of the Russian Federation, and the Regulations on the Bank's Management Bodies, approved by the Bank's Supervisory Board.
Russian Development Bank(RBR) (since May 2011 - Russian Bank for Support of Small and Medium Enterprises– OJSC "SME Bank"), which became a subsidiary of Vnesheconombank (at the end of 2010, its charter capital was 14.66 billion rubles, and own funds- 27.6 billion rubles), is responsible within the VEB Group for the implementation of the program of state financial support for small and medium-sized businesses in the non-trade and innovative sectors of the economy, working for this mainly on the basis of agency agreements with ordinary commercial partner banks and through support infrastructure organizations small and medium business. The organizational and legal form of the bank is OJSC with 100% state capital. It is registered by the Bank of Russia and has a license from this regulator to carry out the entire range of commercial banking operations. He was also granted a license as a professional participant in the securities market (hereinafter referred to as SM), i.e. the right to carry out dealer activities. In other words, from the point of view of our legislation, it is an economic, commercial organization, i.e. ordinary commercial bank. At the same time, there is a feature that distinguishes it from other commercial banks: since it is owned by the state, the Government of the Russian Federation, through Vnesheconombank, determines the strategy and priority areas for its activities, and also participates in its management through representatives holding dominant positions on the bank's board.
Another 100% subsidiary of Vnesheconombank, as already noted, is a specialized state Russian Export-Import Bank (Roseximbank) operating in the form of a CJSC.
The Vnesheconombank Group currently also includes Belvnesheconombank (Belarus), Prominvestbank(Ukraine), Russian Svyaz-Bank and bank "GLOBEX", as well as non-credit organizations - nine subsidiaries and seven affiliates. It turns out to be a very hypertrophied neoplasm. As noted earlier, the lack of efficiency of state financial institutions is partly due to the excessively large scale of their activities, which in some cases can create a threat to the stability of the financial system.
As can be seen from the above, there are many questions regarding the legal and organizational foundations for the creation and functioning of VEB and its group. At the same time, it is impossible to agree with the opinion that it is possible and necessary to reduce contradictions in the activities of development banks with the help of such decisions as changing the norms of legislation, as a result of which:
These banks should become market institutions whose activities are subordinated to the goals of making a profit and at the same time solving national investment problems, for which, in particular, to transform Vnesheconombank into economic organization in the form of a JSC with state capital and extend control and regulation by the Bank of Russia to it.
In other words, the author proposed to make sure that the banks in question, while continuing to "sit" on budget money, actually ceased to be development banks. As for the control and regulation by the Central Bank of the Russian Federation, there is a reason for this proposal;
These banks should become as independent and independent as possible in making investment decisions, for which the leading role of the government in relation to them should be reduced to a minimum (by equalizing the State Duma with it in this regard, central bank and the Accounts Chamber).
However, with such practice government bodies represented by their representatives on the boards of development banks would be deprived of the opportunity to interfere in operational activities banks and participation in borrower financing decisions. Obviously, in reality, this would mean simply the abolition of state development banks as such;
State banks would be involved in financing socially significant objects "not under the influence of administrative pressure, but taking into account the use of tools of economic benefit and risk reduction."
The question remains, whose benefit should be taken into account - the management of the bank or society;
The evaluation of the activities of top managers, members of the board of banks and their remuneration will be carried out taking into account the financial indicators achieved by banks and other criteria, "which are used in relation to credit institutions operating in a market economy." Such a proposal also fits well with the idea of "transforming" state-owned development banks into standard commercial organizations.
However, in reality a task does not consist in the liquidation of development banks as such, but solely in maintaining such social conditions, including a special regime of goal-setting and control, in which these banks would function strictly in accordance with their natural purpose, without competing and without ousting commercial banks from the banking services market, and, moreover, functioned with the greatest economic and social efficiency.
And one more task related to banks of this category. It consists in the fact that Russia, it seems, needs state regional development banks(belonging to the subjects of the Russian Federation). Corresponding positive experience is available in a number of foreign countries(for example, in Germany), which could be adapted to the conditions of our country. Strengthening the role of the state in this aspect is undoubtedly an objective necessity.
- In this last case, it seems that there is a certain legal conflict, since the property of the joint-stock company with which the state has endowed it turns out to be the property not of the state, but of the joint-stock company itself.
- In this case, the development institutions under consideration, it seems, cannot claim the usual banking license from the main regulator of the banking sector and, accordingly, the official status of the bank. Nevertheless, further they will be conventionally referred to as banks (development banks) to a certain extent, since they received from the state the right to conduct Bank operations.
- Those who believe that there are no "special" banks, that such banks, which are supported by the authorities, "should not exist in nature", that the equality of all economic entities is "an axiom of a market economy", are mistaken. At the heart of such views is a more than vague idea of the adherents of the fantastic "invisible hand of the market" about what the real world really is. market economy, and unwillingness to understand it.
- SDR - Special Drawing Rights (special drawing rights– SDDR, SDRs)– artificial (conditional) reserve and means of payment issued by the IMF. It was created in 1969 as an addition to the reserve assets of countries - members of the IMF. It has only a non-cash form in the form of records on bank accounts. It is used to regulate the balance of payments, to cover the deficit in the balance of payments, replenish reserves, and settle on IMF loans.
- In accordance with Decree No. 1007-r of the Government of the Russian Federation dated July 27, 2007, in 2007 "the authorized capital of Vnesheconombank will amount to 250 billion rubles." For 2008–2009 VEB Management Company was increased by 196 billion rubles at the expense of state contributions. As of the end of 2010 equity bank amounted to 363.5 billion rubles.
- Vnesheconombank is also not subject to the Rules for Investing Temporarily free funds state corporation, state company" and "Rules for exercising control over the investment of temporarily free funds of a state corporation, state company" (approved by Decree of the Government of the Russian Federation of December 21, 2011 No. 1080).
- Bazhan A.I. Money-credit policy and development banks in Russia // Banking. 2008. No. 5, 6.
