Course work lending to enterprises in the economy of the Russian Federation. Bank lending in the Russian Federation _____________ Bank lending to Russian companies in modern conditions

The Banki.ru portal prepared a study on the work of the banking sector in 2018. The study examines the changes that have taken place in the composition of market participants, the dynamics of assets, lending volumes, the amount of client funds, indicators of liquidity, profit, equity and capital adequacy of banks, and also provides a forecast for 2019.

1. Participants of the banking market

Positive dynamics of funds corporate clients in 2018, it was mainly the growth of funds in deposit accounts that contributed (+15.8%, or +2.49 trillion rubles). Balances on settlement and current accounts increased by only 8%, or by 741.7 million rubles. Account funds individuals even yielded to last year's figures and grew by 23.3% over the year (from 5.1 trillion to 6.3 trillion rubles), fixed-term deposits of individuals increased by 5.8%, or by 1.2 trillion rubles.

By January 1, 2019, the balance sheets of the five largest banks accounted for 65.5% of the total amount of funds raised from legal entities and individuals, the top 50 banks had already accumulated 91.2% of client funds, and the top 100 - 95.6%.

The share of funds from individuals decreased over the year from 50.6% to 49.7%, however, they remain one of the largest sources of funding for banks. Funds of enterprises and organizations as of January 1, 2019 account for 49.4% of banks' liabilities to customers (48.6% a year earlier), or 28.2 trillion rubles, funds on accounts and deposits of the population - 28.4 trillion rubles.

The share of balances on current and settlement accounts of legal entities in the structure of banks' liabilities to customers decreased from 18.0% to 17.5% over 12 months, and the weight of funds on accounts of individuals increased from 9.9% to 11.0% in total mass of client funds.

The currency component in the structure of client funds, in contrast to the loan portfolio, increased in 2018. The share of foreign-currency-denominated liabilities of banks to enterprises and organizations in 2018 increased from 36.7% to 37.0% (at the beginning of 2017 - 40.5%), the share currency deposits population in the total volume increased from 20.6% to 21.5% (at the beginning of 2017 - 23.7%).

Such adjustment of the share of foreign currency funds is due to changes in the exchange rate against the ruble. There are no other reasons for the growth of foreign exchange liabilities. Rates on foreign currency deposits remain at a low level (in the second half of 2018, rates on deposits in US dollars increased, while on deposits in euros remained almost unchanged), therefore, in the future, the most significant factor influencing the share of foreign currency liabilities will be the dynamics of foreign exchange liabilities. courses.

In general, the dynamics of funds of individuals is inferior to the growth of funds of corporate clients, and in 2019 this situation will continue. Nevertheless, household deposits will grow in almost any case: the increase in rates will have an effect in the face of weakly demanded alternative savings and investment instruments that are not protected from losses by state guarantees, as well as a possible positive revaluation of foreign currency deposits. The inflow of deposits will traditionally be limited by the lack of growth in real incomes.

The forecast for the dynamics of deposits of the population is 4-8% at the end of 2019, the growth of balances on the accounts of individuals is 18-23%, the funds of corporate clients will increase by 7-11%. The main growth will be in the largest banks, in particular, banks with state participation.

It should be noted that from January 1, 2019, in the same amount as the funds of individuals (up to 1.4 million rubles), the funds of legal entities classified in accordance with the legislation of the Russian Federation as small enterprises are insured in Russian banks.

Schedule interest rates on deposits in rubles repeats and even slightly anticipates the actions of the Central Bank to raise the key rate. Among other things, banks began to offer increased rates due to the weakening of the ruble. The growth of real deposit rates in the market could be observed already since June, and large banks showed another increase at the end of November and in December - in anticipation of a key rate hike by the Bank of Russia. In January-February 2019, there are practically no deposits with real rates around 8% on the market - these are rather separate special offers or deposits for a period of more than one year.

Some banks improve offers on savings accounts, the rates on which are still lower than on deposits. Other credit institutions are trying to attract more "long" money, increasing the rate on such products more significantly than on deposits for up to one year.

The key rate is currently at 7.75% and it is unlikely that it will change in March 2019. So far, the Central Bank’s inflation forecast is 5–5.5% for 2019, but this figure, according to the assumptions of the Bank of Russia’s management, may turn out to be lower if the impact of the increased VAT is less significant than expected.

We assume a slight increase in real interest rates on deposits in the first half of 2019 (in the range of 0.4-0.7% per annum), and at the beginning of next year, depending on the inflation rate and the position of the regulator, rates may begin to decline. Banks for the most part demonstrate excess liquidity and do not feel the need to additionally raise expensive funds.

The weighted average rates on long-term deposits of legal entities showed the most uneven dynamics in 2018 and at the end of the year gave way to retail deposits in terms of high cost for banks. Accordingly, the funds of legal entities grew at a significantly higher rate than the deposits of the population.

The dynamics of real rates for banking products in 2018 can be found in prepared by the analysis department banking services Banki.ru

5. Liquidity

In February 2018, the Bank of Russia predicted a liquidity surplus of RUB 3.2–3.6 trillion by the end of the year. This range turned out to be slightly higher than the real figures: the structural liquidity surplus amounted to 3.0 trillion rubles in December, mainly due to the seasonally high volumes of transactions on budget accounts at the end of the year. The regulator’s forecast for the liquidity of the banking sector at the end of 2019 is a surplus in the range from 2.8 trillion to 3.3 trillion rubles.

Returning to the financial statements, liquidity ratios in general for the market, according to the Central Bank, they show excellent results and are very far from the minimum allowable limits, as well as the median values ​​of the same standards.

As of January 1, 2019, liquid and highly liquid assets as part of net assets demonstrate slightly lower values ​​than recorded a year ago. The share of liquid assets in the total assets of the banking sector amounted to 21.1% against 23.2% as of January 1, 2018. Highly liquid assets in assets formed 10.6% against 11.0% as of January 1, 2018. This is not a very high value for an individual bank, but already a familiar range of values ​​for the banking sector as a whole. The share of highly liquid assets in the sector's asset structure was higher on any quarterly date in 2018 than on January 1, 2019.

Volumes of REPO transactions with the Bank of Russia increased from insignificant indicators at the beginning of the year to 4.8–6.5 billion rubles daily by the end of the first quarter and continued to increase until the end of May. In the summer, the indicator showed a decline to the ranges of 1.9-3 billion with rare increases to 5 billion rubles. With the exception of short increases in volumes for several days, banks carried out REPO operations with the Central Bank most actively at the end of the 1st and at the beginning of the 2nd quarters of 2018. The maximum volume of such transactions in 2018 reached 16.3-34.6 billion rubles in the first ten days of September.

Volumes of attraction of funds of the Bank of Russia in general, according to reports, they have been going up since the beginning of the year, excluding the fourth quarter, when the volume of borrowings decreased from 3.1 trillion to 2.6 trillion rubles. Funds raised on the interbank market, after declining in the first quarter from 9.3 trillion rubles to 6.6 trillion rubles, grew and reached almost 9.2 trillion rubles as of January 1, 2019.

As of January 1, 2019, the attracted funds of the Central Bank were in one volume or another in the liabilities of 49 banks (according to the results of the I and III quarters - 44 banks, at the end of the first half of the year - in the liabilities of 50 banks).

At the beginning of 2019, 68.7% of the 2.6 trillion rubles received by banks from the Central Bank was attracted by Trust Bank, which is being reorganized into a bank of non-core assets of the Otkritie FC group, and merged with AVB; another 21.7% accounted for Sberbank.

Taking into account the declining number of high-quality Russian borrowers and the restrictions on the distribution of excess liquidity due to this and other factors (sanctions, solvency of the population, low profitability of reliable investment instruments, etc.), it is easy to agree with the Central Bank’s forecasts that the liquidity surplus of the banking sector will continue in 2019.

Russian banks, while maintaining excess liquidity, will not feel the need to attract funds from the regulator, with the exception of sanated or reorganized credit institutions. Thus, the direction of the dynamics of borrowing volumes from the Bank of Russia in 2019 will repeat last year’s (in the chart above) – a decrease in borrowings in the first half of the year and further insignificant growth until the end of the year. This dynamic will be provided by the largest state-owned banks.

6. Profit

According to the results of 2018, the net profit of Russian banks amounted to 1.34 billion rubles, which is 70% higher than the result of 2017. Then the banking sector received a total net profit of 789.7 billion rubles.

In 2018, profitable organizations earned almost 1.92 trillion rubles (in 2017 - 1.56 trillion, in 2016 - 1.29 trillion rubles), while losses amounted to 574.6 billion rubles. Moreover, more than 88% of these losses were provided by Promsvyazbank, as well as Trust reorganized into a bank of non-core assets and AVB joining it. Last year, 384 credit institutions turned out to be profitable (421 in 2017), and exactly one hundred credit institutions demonstrated a negative financial result (140 in 2017).

The second half of 2018 was overall more profitable for Russian banks: in Q3 they earned 434.2 billion rubles of net profit, in the 4th - 276.6 billion. II-m - 280.9 billion rubles.

The return on assets of the banking sector in 2018 was expectedly higher than last year’s level (1.5% versus 1.0%), the return on equity was 13.8% (against 8.3% in 2017).

The maximum losses in 2018 were recorded by five credit institutions: Bank AVB (-337.2 billion rubles), Bank Trust (-155.5 billion), Promsvyazbank (-14.1 billion), Moscow Regional Bank (- 11.6 billion), as well as the Asia-Pacific Bank, which is being rehabilitated since April 26, 2018 (-9.4 billion rubles). As in 2017, the banks being rehabilitated are responsible for the main losses in the banking sector. Of the existing banks that did not undergo the financial recovery procedure, Absolut Bank became the most unprofitable in 2018 (-8.2 billion rubles).

The profit of the largest bank in the country, accounting for more than 42% of the total financial result of profitable banks for the year, increased to 811.1 billion rubles (674.1 billion rubles in 2017). In second place in terms of net profit for 2018, VTB (256.6 billion rubles), in third place is Alfa-Bank (110.8 billion rubles). The top five in terms of net profit also included the rehabilitated Sotsinvestbank (31.2 billion rubles), which received such a profit due to the obligations to it in the amount of 34 .5 billion rubles, as well as Raiffeisenbank (26.9 billion rubles).

Traditionally, the main impact on total income was made by net income from operations on lending to legal entities, which grew by 12.8% over the year. At the same time, both expenses and incomes showed negative dynamics, but the former decreased more significantly. Fee and commission expenses grew at a faster pace than income, but due to the significantly higher volume of the latter, the impact of net fee and commission income (+21.7% compared to 2017) on total income was in second place.

Provisioning costs for possible losses decreased in 2018 slightly more than income from their recovery. Accordingly, the impact on net income of total provisioning costs decreased. Allocations to reserves decreased by 3.4% (by 319.7 billion), and profit from the recovery of reserves - by 1.2% year-on-year (by 92.7 billion rubles). At the same time, organizational and administrative expenses increased by 45% - from 831 billion to 1.2 trillion rubles - compared to last year's figures.

In the absence of reorganizations of the largest players that influenced the sector's profitability in 2016-2018, we forecast the level of net profit in 2019 in the range of 1.1-1.4 trillion rubles. The level may be lower than the forecasted minimum in case of significant changes in the economy.

The tough approach of banks to assessing credit risks and the regulator's attention to the adequacy of such an assessment was the result of an increase in allocations of funds to reserves, despite a decrease in overdue debts and an overall improvement in the quality of the total loan portfolio. In 2019, the formation of reserves will be the main factor of pressure on the financial results of banks, including due to an increase in the share of delinquency and problem loans in the loan portfolio.

7. Own funds and capital adequacy

The total amount of own funds of credit institutions (according to form 123, excluding organizations with a negative capital value as of the reporting date) for 2018 increased by 870.5 billion rubles, or by 9.3%, amounting to about 10 .27 trillion rubles, according to the financial.

14 banks "invested" their negative capital in this figure in the total amount of 1.33 trillion rubles, of which 1.11 trillion - on the account of Trust Bank and AVB Bank, which is merging with it. A year earlier, there were 18 banks with negative capital, while the negative amount was 985.1 billion rubles.

The key factor in the growth of equity in 2018 is profit and funds (+800.6 billion rubles). The dynamics of total capital was negatively affected by losses, which increased by 481.8 billion rubles in 2018.

Own funds is one of the criteria for dividing bank licenses into universal and basic ones. From January 1, 2018, the minimum capital for universal banks is 1 billion rubles, for banks with a basic license - 300 million rubles (but not more than 3 billion rubles). As of January 1, 2019, 291 banks had a universal license, 194 banks had a basic license.

According to the Central Bank, the values capital adequacy ratios in the banking sector as a whole increased by the end of the first quarter of 2018, and then remained at a lower level. As of January 1, 2019, the value of the N1.0 ratio was 12.2% (a year earlier - 12.1%), N1.1 - 8.3% (a year earlier - 8.2%), N1.2 - 8.9 % (a year earlier - 8.5%).

The median of the main capital adequacy ratio H1.0 for the sector as of January 1, 2019 was 24.81%, a year earlier the indicator was lower - 23.55%, at the beginning of 2016 - 22.29%.

The bulk of the violators of the values ​​of the capital adequacy ratio H1.0 and other mandatory ratios are banks being rehabilitated. Comparatively low values ​​of H1.0 - from 8% to 10%, according to the Central Bank, as of January 1, 2019 were shown by six credit institutions (against nine banks a year earlier).

8. Forecast for 2019

Banki.ru's baseline forecast for the banking sector assumes a relatively stable political and economic environment in Russia and no major external shocks. The forecast may be revised in the event of major political and economic changes, which are currently assessed by the authors of the review as unlikely.

◊ Process reduction in the number of players market of banking services in Russia has not been completed, the number of operating banks by 2020 will be reduced by at least 40 units.

◊ Growing influence of “state banks” on the banking sector will continue both through the acquisition of regional players with the prospect of their accession and absorption in the future, andorganically. The share of assets of the five largest banks in 2018 increased from 55.8% to 60.4% in total, by the end of 2019 this share will increase to 64.5–65.5%.The share of the five largest lenders in the total loan portfolio of the sector will increase by 2–4 p.p. per year (up to 69.5–71.4% of the total volume).

◊ In the absence of bailouts of the largest players that influenced the profitability of the sector in 2016-2018, net profit Russian banks at the end of 2019 is projected at the level of 1.1-1.4 trillion rubles. The formation of reserves will be the main factor of pressure on the financial results of banks.

◊ Surplus banking sector liquidity will continue, given the declining number of high-quality Russian borrowers and due to this and other economic factors (sanctions, the solvency of the population, low profitability of reliable investment instruments, etc.) restrictions in the distribution of excess liquidity.

Russian banks, while maintaining excess liquidity, will not feel the need to attract funds from the regulator, with the exception of sanated or reorganized credit institutions.

◊ Volume of household deposits will grow by 4-8% in 2019 due to higher rates in the face of weakly demanded alternative savings and investment instruments that are not protected from losses by government guarantees. The revaluation of foreign currency deposits may have a moderate impact on growth. The inflow of deposits will be limited by the lack of growth in real incomes. Growth balances on current and settlement accounts of individuals– 18–23%. Funds of corporate clients will increase by 7–11%. The main growth in client funds will come from the largest banks, in particular, banks with state participation.

◊ In the first half of 2019, a slight increase in real deposit rates(in the range of 0.4–0.7% per annum), no significant changes in rates are expected in the second half of the year. At the beginning of next year, depending on the level of inflation and the position of the regulator, rates may begin to decrease.

◊ Lending to individuals , due to which, in many respects, there was a good growth dynamics of the loan portfolio in 2018, will not show such impressive growth in 2019. The portfolio of loans to individuals will increase by 12–16% over the year.

Mortgages will continue to support retail lending despite higher risk ratios for loans with low or no down payments. The decrease in dynamics relative to 2018 will be affected by the growth of interest rates, the lack of growth in household incomes and the regulator's restrictions on unsecured loans.

◊ Volumes issued in 2019 mortgage loans will be at a level lower than last year, but higher than 2017, in the range of 2.3-2.8 trillion rubles, while maintaining or minimally increasing the average loan amount (2.05 million rubles in 2018). Mortgage portfolio growth housing loans at the end of 2019 will be 16–20%, or 1–1.3 trillion rubles.

Mortgage lending rates remain fairly low and affordable even in the face of declining real incomes of the population, so their impact on mortgage lending dynamics will be insignificant. Regulatory restrictions also moderately influence the dynamics in the form of coefficients for loans with an initial payment below 20%.

◊ Growth of real mortgage rates in the second half of 2018 was about 0.5-1% depending on the bank and is likely to continue in the first half of 2019. However, we do not expect significant growth: the weighted average mortgage rate by the end of 2019 will not rise above 10.5%. With inflation on the decline and in the absence of major economic shocks, rates will show a decline again, possibly towards the end of 2019.

◊ Stagnation was observed in the second half of 2018 car loan market, lending growth has stalled largely due to the end of popular government subsidy rates. It is obvious that such a situation cannot but have an impact on the dynamics of the market. On the other hand, the share of car sales on credit decreased insignificantly and amounts to almost half of all cars sold in Russia. Our forecast for the dynamics of the auto loan portfolio of Russian banks is 9-13% for 2019.

◊ For dynamics corporate lending increased requirements for the quality of borrowers on the part of banks and the general business climate will affect, the demand for restructuring and prolongation of loans will increase. The growth of the corporate loan portfolio is 4–6.5% in 2019.

◊ In 2019, we expect an increase in the share delays in the total portfolio of corporate loans by 0.2–0.5 p.p. with portfolio growth due to large business. The reduction in overdue debt in the retail segment in 2019 will slow down to 0-4%, and the share of overdue loans to individuals, in the event of a weak growth in the retail portfolio, may slightly increase by the end of the year.

Sabina KHASANOVA, Head of Analytics and Content at Banki.ru

Vadim TIKHONOV,Analyst at Banki.ru Analytical Center

As a result of mastering the material of Chapter 5, the student must:

know

• signs of the emergence of credit relations;
• main forms of credit relations;
• features of financial and commercial credit;

be able to

• classify loans by forms and types;
• determine the methods of collecting loan interest;
• analyze the creditworthiness of the borrower;

own

• basic skills of credit relations;
• lending mechanism;
• basic concepts and terms of lending.

credit system- this is a combination of various financial and credit institutions operating in the loan capital market and carrying out the accumulation and concentration of money capital.

The credit system serves as a powerful factor in the concentration and centralization of capital, contributing to the rapid mobilization of free Money and their use in the economy. In a broad sense, the credit system of the Russian Federation can be considered as a set of credit organizations and legal norms that have developed in the country, regulating activities and establishing the procedure for interconnection with other economic entities. In Russian legislation, the concept of "credit system" is absent, as a result of which some scientists replace it with the concept of "banking system". In our opinion, this is not entirely true, since banks are not the only type of credit organizations. Although it must be admitted that certain elements of the banking system are present and actively functioning in the credit system.

The main links in the credit system of the Russian Federation are: financial and credit institutions, credit and settlement relations, instruments of credit relations, information about participants in credit relations, organizations providing services in the financial and credit sphere (Fig. 5.1).

To financial and credit institutions credit system RF include:

• - Bank of Russia. He is a special lender of last resort for credit institutions;
• - banking credit organizations. These include commercial banks, Sberbank of Russia, investment banks, mortgage banks, specialized branch banks, as well as subsidiaries and representative offices of foreign banks;
• – specialized non-banking financial and credit organizations. These include investment funds, investment companies, pension funds, financial companies, insurance companies, pawnshops, charities, savings and loan associations, credit unions, microfinance organizations, credit cooperatives.

On the basis of Federal Law No. 135-Φ3 of July 26, 2006 "On Protection of Competition", the Federal Antimonopoly Service analyzes the state of competition in order to establish the dominant position of a particular credit institution. The mechanism for carrying out this analysis is established by Order No. 433 of the Federal Antimonopoly Service of Russia dated June 28, 2012 "On Approval of the Procedure for Analyzing the State of Competition in order to Establish the Dominant Position of a Credit Institution".

To credit relationships include:

• - bill. Bill transactions are regulated by the Federal Law of March 11, 1997 No. 48-FZ "On a transferable and promissory note";
• - bond. The placement, circulation and redemption of bonds is regulated by the JSC Law and the Federal Law of April 22, 1996 No. 39-Φ3 "On the Securities Market";
• - loan agreement. It is drawn up by the creditor on its terms in compliance with the requirements of the civil legislation of the Russian Federation.

Rice. 5.1.

Organizations providing services in the financial and credit sphere:

• - credit bureaus. Serves for centralized accumulation of information about the payment discipline of the borrower in fulfilling its obligations;
• - collection agencies. Currently, there are two options for the work of collection agencies. The first one provides for the collection of overdue debts on the basis of an agency agreement: the agency receives a power of attorney from the creditor, according to which it has the right to represent its interests and negotiate with the debtor on its behalf. The second option is the conclusion of an assignment agreement (purchase of overdue debt from a credit institution, enterprise or individual), upon completion of which the right to claim a loan passes to a collection agency.

Currently, work is underway to prepare proposals to the Ministry of Justice of Russia on the legislative regulation of collection activities. In particular, draft federal laws "On Collection Activity" and "On Rehabilitation Procedures Applied to a Citizen-Debtor" have been prepared.

The structure of the credit system of the Russian Federation includes the following credit and settlement relations:

• - traditional types and forms of lending, which include financial, commercial and government loans;
• – specific forms of credit (for example, leasing).

Information about participants in credit relations includes:

• - credit history. The Law on Credit Histories defines the concept and composition of a credit history, the grounds, the procedure for the formation, storage and use of credit histories. It also regulates the activities of credit history bureaus related to this, establishes the features of the creation, liquidation and reorganization of credit history bureaus, as well as the principles of their interaction with information sources, borrowers, public authorities, local government and the Bank of Russia. Credit history is aimed at reducing banking and credit risks. Disclosure of information on the fulfillment by borrowers of obligations to creditors reduces the cost of banks for assessing creditworthiness and reducing the time to make a decision on issuing a loan;
• – the creditworthiness of the borrower, which is understood as the ability to timely and fully repay the obligations under the loan (loan). There are many methods for determining the creditworthiness of a borrower. Most often, banks use the coefficient method and the analysis of customer information according to special criteria.

The functioning of the credit system is expressed in the movement of the loaned value and the formed credit market.

The stages of movement of the loaned value are:

• 1) availability of temporarily free funds;
• 2) placement of borrowed capital;
• 3) receipt of borrowed funds by the borrower;
• 4) use of borrowed capital by the borrower;
• 5) return of the loaned value;
• 6) receipt by the creditor of the main part of the loan (principal amount of the debt) and interest on it.

The credit market (marine capital market) is a system of market relations that ensure the accumulation and redistribution of loan capital.

There are permanent and temporary participants in the credit market. Permanent participants include credit institutions, and temporary participants include borrowers using borrowed capital as needed. In addition, the market can be divided into three main categories of borrowers and lenders:

• – institutions public institutions and international organizations;
• – private credit and financial organizations;
• companies, firms and individuals.

In September 2014, the EU countries, Canada and Australia introduced a package of sanctions, which included the three largest enterprises of the domestic fuel and energy complex - Rosneft, Transneft and Gazpromneft. The sanctions included a ban on trading in bonds of these companies with a circulation period of more than 30 days and participation in organizing the issuance of such securities. In addition, restrictions were adopted on the provision of foreign loans and investment services for five Russian banks - Sberbank, VTB, Gazprombank, VEB and Rosselkhozbank. In these conditions Russian banks forced to reorient to domestic financial markets, limit the growth of lending and tighten the formation of the loan portfolio, taking into account increased risks. At the same time, fuel and energy companies show demand for credit funds for the purpose of refinancing external loans. Under these conditions, the demand for loans is funded by the Central Bank of Russia and the Ministry of Finance of the Russian Federation. In October 2014, their support for banks increased by RUB 770 billion. and in general by 3.3 trillion rubles. for 9 months of 2014. According to Alfa-Bank economists, at the end of 2014, the state funds 12% of the banking sector's assets: 9% falls on the Central Bank and 3% on the deposits of the RF Ministry of Finance. Let us consider what are the prospects for lending to Russian companies in the context of a reorientation to domestic financial markets and a simultaneous increase in the level of credit risks.
Russian fuel and energy companies are traditionally among the priority borrowers of the largest commercial banks. This is due to the special role played by the fuel and energy complex in the modern Russian economy. The fuel and energy complex provides more than 40% of revenues to revenue side the country's budget. More than half of Russian exports are related to industries that are part of the fuel and energy complex. For the implementation of their large-scale investment projects, the largest companies, and primarily fuel and energy companies, are interested in attracting long-term resources at the lowest possible rates. It is no coincidence that the largest companies have been actively raising funds in Western markets. The most popular financial solutions were the issuance of long-term bonds and attraction of syndicated loans.
Due to the imposed restrictions on foreign borrowing, the fall of the ruble and the rise in the cost of domestic financing, fuel and energy companies faced problems in paying off foreign currency obligations, since it is difficult to pay them off without further refinancing. In this regard, the question arose of refinancing liabilities in foreign currency on domestic financial markets. To pay off debts in a timely manner, it is necessary to obtain new financing in terms of foreign currency within the country, or to obtain financing in national currency and buy a foreign one with subsequent repayment of the current debt. The second option with the active purchase of foreign currency for Russian rubles took place, and this led to the collapse of the national currency.
In principle, debt pyramids formed by states and corporations have become global problems of our time. As already noted, they affect not only the credit and financial, but also the sphere of the real economy caused by it, the activities of the monetary authorities and non-governmental non-profit organizations, households, international economic relations, and require the development of scenario forecasts in order to develop adequate management methods.
The issue of forming the currency structure of attracted financial sources from the standpoint of the future financial stability of fuel and energy companies rests on the behavior of oil prices. Consider the following scenarios, given the ongoing economic isolation from the West:
A. Low oil prices with a predominance of ruble debt.
B. Low oil prices dominated by debt pegged to foreign currencies.
B. High oil prices with a predominance of ruble debt.
D. High oil prices dominated by debt pegged to foreign currencies.
Option A: Fuel and energy companies will start selling foreign exchange earnings to pay off debt in rubles, which will provoke the strengthening of the national currency. The equivalent of the ruble debt in foreign currency will begin to increase. Given low oil prices, this situation may threaten the financial stability of companies.
Option B: there will not be enough primary sources, so fuel and energy companies will be forced to refinance their debt in foreign currency.
Option B: Fuel and energy companies will begin to sell foreign exchange earnings to pay off debts in rubles, which will lead to a strengthening of the ruble. The equivalent of the ruble debt in foreign currency will begin to grow and companies will lose on currency risks.
Option D: Fuel and energy companies will repay their obligations in foreign currency at the expense of primary sources without financial losses.
Thus, the situation with the predominance of foreign currency-pegged debt is more favorable, which means that it carries less credit risks for the bank.
It should be noted that the attraction of financing in terms of foreign currency within the country leads to pressure on the level of international reserves. The volume of international reserves does not cover the total amount of corporate debts in foreign currency (Fig. 1).

Introduction

1. Classification of credit operations, their legal regulation in the Russian Federation

2. Credit policy as a fundamental document for the implementation of bank lending

3. Problems and prospects for the development of bank lending in Russia for present stage

Conclusion

List of used literature

Introduction

The Bank, being a commercial enterprise, places attracted resources on its own behalf, at its own risk and peril, in order to generate income.

In international practice, the quality of assets, along with capital adequacy, is a fundamental condition that determines the financial well-being of a bank. Moreover, capital adequacy to a large extent depends on the degree of reliability of the bank's placement of funds in active operations. If the reliability of the placement promises a 100% return guarantee, then the bank needs much less capital to continue its sustainable activities than when placing funds in active operations with high risk, leading to losses.

The bank's active operations are heterogeneous both in terms of economic content and in terms of their profitability and quality.

A part of the bank's active operations is a non-alternative placement of its funds (to the mandatory reserve fund, to a correspondent account with the cash register, etc.), which allows the bank to operate stably, but does not generate income. Other types of placement can be highly profitable, but very risky. Therefore, each commercial Bank must accurately determine its market priorities and specialization in any time period of its activity.

Lending operations should be considered the basis of active operations and one of the most important activities of a commercial bank. The subjects of credit relations in the field of bank credit are business entities, the population, the state and the banks themselves.

The organization of financial and credit services for enterprises, organizations and the population, the functioning of the credit system play an extremely important role in the development of economic structures. Not only the timely receipt of funds by individual economic units, but also the pace of economic development of the country as a whole depends on the efficiency and uninterrupted functioning of the credit and financial mechanism. Therefore, for successful development and profit, the Bank needs to choose the right credit policy.

The financial crisis has already led to a curtailment of production, a fall in wages and incomes, which, in turn, results in a drop in demand. As a result, overstocking, a drop in business profitability, a decrease in the ability to service loans, that is, an increase in credit risk. Since credit risk, as a rule, makes up a significant proportion of the total risks of banks, the severity of the consequences of this type of risk is maximum. When assessing the financial condition of counterparties during a crisis, the role of an individual assessment significantly increases versus a formalized one, the role of liquidity and turnover indicators also increases, fresh (current) data are used more for assessment. Proactive monitoring of the financial condition of the counterparty is practiced in order to identify possible losses at an early stage, before the occurrence of bad debts.

Lending carries high risks that can seriously affect the decline in profits. The lending process allows avoiding or minimizing credit risks, which determines the relevance of the research topic.

The main source of income is lending. Therefore, an important direction of a commercial bank is the timely monitoring of the profitability and efficiency of the loan portfolio.

aim term paper is the study of various approaches to the formation of an optimal loan portfolio in a crisis.

In accordance with the goal, the following tasks are solved:

· explore the essence and classification of credit operations of commercial banks;

· analyze the activities of banks in the Russian credit market at the present stage;

· explore the theoretical aspects of assessing the creditworthiness of the borrower.

1. Classification of credit operations and their legal regulation in the Russian Federation

Credit - the provision of money or goods on credit, usually with the payment of interest; value economic category, an integral element of commodity-money relations. The emergence of credit is directly related to the sphere of exchange, where the owners of goods confront each other as owners ready to enter into economic relations.

The possibility of the emergence and development of credit is associated with the circulation and circulation of capital. In the process of movement of fixed and working capital, resources are released. Means of labor are used in the production process for a long time, their value is transferred to the cost of finished products in parts. The gradual recovery of the value of fixed capital in the form of money leads to the fact that the released funds are deposited in the accounts of enterprises. At the same time, at the other extreme, there is a need to replace worn-out means of labor and rather large one-time costs. Processes similar in nature occur in the movement of working capital. Moreover, here the fluctuations in circulation and turnover manifest themselves in more diverse ways. So, due to the seasonality of production, uneven deliveries, etc., there is a discrepancy between the time of creation and circulation of products. Some subjects have a temporary excess of funds, while others have a shortage. This creates the possibility of the emergence of credit relations, that is, credit resolves the relative contradiction between the temporary settling of funds and the need for their use in the economy.

Credit relations in the economy are based on a certain methodological basis, one of the elements of which are the following principles:

1. The main feature of the loan is its repayment - the loan must be returned. economic basis repayment is the circulation of funds from the borrower and their mandatory availability by the repayment date.

2. Urgency - the loan must not only be repaid, but within the time period agreed by the parties. At the same time, there is the concept of an on-call loan issued without specifying a repayment period - on demand terms. Moreover, according to Art. 810 of the Civil Code of the Russian Federation, if the repayment period is not established by the agreement or is determined by the moment of demand, then the loan amount must be returned by the borrower within 30 days from the date the creditor submits a request for this.

3. Payment - the borrower must pay a certain fee to the lender for the temporary borrowing of funds from him. The economic content of payment is the transfer by the borrower of a part of the profit he received to the lender in the form of loan interest, which acts as a kind of price for the loan. It is expressed as an interest rate, which is the ratio of the interest income of the lender to the amount of the loan. Its value depends on the term of the loan, the risk of its non-return, the security of the loan, the demand for it, the level and dynamics of inflation and other factors. The special nature of the relationship between the lender and the borrower may lead to the use of a zero interest rate (interest-free loan).

4. Security - the borrower's obligation to repay the loan is usually supported by a pledge of property belonging to him, or the obligations of third parties in the form of guarantees and bank guarantees. If the borrower fails to fulfill its obligations, the creditor has the right to sell the pledged property or demand payment from the guarantors (guarantors). At the same time, there is the concept of a blank loan issued on a trust basis without collateral.

5. Differentiation - means a different approach to issuing a loan to different borrowers, depending on their creditworthiness, business reputation, credit history, experience with them and other nuances.

6. Targeted character - as a rule, a loan is issued for a specific purpose (to finance the acquisition of movable and immovable property, replenishment working capital, project implementation). However, it is also possible to lend without specifying the purpose - for the total need of the borrower (unrelated loan).

The place and role of credit in the economic system of society are also determined primarily by the functions it performs, both general and selective.

1. Redistributive function. In a market economy, the loan capital market acts as a kind of pump that pumps out temporarily free financial resources from some areas. economic activity and directing them to others, providing, in particular, higher profits. Focusing on its differentiated level in various industries or regions, credit acts as a spontaneous macro-regulator of the economy, ensuring that the needs of dynamically developing objects of capital investment in additional financial resources are met. However, in some cases, the practical implementation of this function can contribute to the deepening of disproportions in the structure of the market, which was most clearly manifested in Russia at the stage of transition to a market economy, where the overflow of capital from the sphere of production into the sphere of circulation became threatening, including with the help of credit organizations. That is why one of the most important tasks of state regulation of the credit system is the rational determination of economic priorities and stimulation of attracting credit resources to those industries or regions, the accelerated development of which is objectively necessary from the standpoint of national interests, and not solely the current benefit of individual business entities.

2. Saving distribution costs. The practical implementation of this function directly follows from the economic nature of the loan, the source of which is, including financial resources, temporarily released in the process of circulation of industrial and commercial capital. The time gap between the receipt and expenditure of funds of business entities can determine not only the excess, but also the lack of financial resources. That is why loans to fill the temporary shortage of own working capital are so widely used, which are used by almost all categories of borrowers and provide a significant acceleration in capital turnover, and, consequently, savings in general distribution costs.

3. Accelerating the concentration of capital. The process of concentration of capital is a necessary condition for the stability of economic development and a priority goal of any business entity. Real assistance in solving this problem is provided by borrowed funds, which make it possible to significantly expand the scale of production and, thus, provide an additional mass of profit. Even taking into account the need to allocate part of it for settlement with the creditor, attracting credit resources is more justified than focusing solely on own funds. However, it should be noted that at the stage of economic recession, the high cost of these resources does not allow them to be actively used to solve the problem of accelerating the concentration of capital in most areas of economic activity. Nevertheless, the function under consideration, even in domestic conditions, provided a certain positive effect, making it possible to significantly speed up the process of providing financial resources to the areas of activity that were absent or extremely undeveloped during the period of the planned economy.

4. Turnover service. In the process of implementing this function, credit actively influences the acceleration of not only commodity, but also money circulation, displacing cash from it, in particular. By introducing into the sphere of monetary circulation such instruments as bills of exchange, checks, credit cards, etc., it ensures the replacement of cash payments by non-cash transactions, which simplifies and accelerates the mechanism of economic relations in the domestic and international markets.

5. Acceleration of scientific and technological progress. In the postwar years, scientific and technological progress has become a determining factor in the economic development of any state and individual business entity. The role of credit in its acceleration can be most clearly seen in the example of the process of financing activities. scientific and technical organizations, the specifics of which have always been greater than in other industries, the time gap between the initial investment of capital and the sale of finished products. That is why the normal functioning of most research centers (with the exception of those funded by the state) is unthinkable without the use of credit resources. Equally necessary is a loan for the implementation of innovative processes in the form of direct introduction into production of scientific developments and technologies, the costs of which are initially financed by enterprises, including through target medium and long-term bank loans.

Bank lending as a workflow, i.e. as certain actions of participants in banking credit operations, primarily bank employees, is a set of relations between the bank as a creditor and its borrower regarding:

a) providing the borrower a certain amount money for intended use;

b) their timely return;

c) receiving payment from the borrower for the use of funds provided at his disposal.

The basis of a credit relationship, its essential element is trust between borrowers and the lender. The first must believe that the bank will provide a loan in the required amount on time and on normal terms, and the second must be sure that the borrower uses the loan correctly, returns the previously received amount on time and with the payment of interest due. Trust is such a factor in credit relations, due to which they cannot be fully based on any formal verification procedures.

A bank loan can be provided to a borrower (legal entity or individual) for a variety of purposes, the most common of which are:

· increase (replenishment) of the working capital of a business organization (financing the organization's seasonal needs, a temporarily increased number of inventory items, paying taxes, etc.). In all these and similar cases, they speak of short-term lending;

· financing of production costs, including the implementation of investment projects (project for expansion, reconstruction or modernization of enterprises), i.е. in general - an increase in capital. In this case, they speak of medium or long-term production (investment) lending;

· consumer purposes of an individual individual (acquisition or repair of housing, education, etc.), satisfied with the help of a consumer (personal) loan.

Credit transactions are relations between a creditor and a debtor (borrower) regarding the provision (receipt) of funds for temporary use on terms of payment, urgency and repayment. This refers to the content of the actions of the participants in the relationship, primarily bank employees.

The structure of credit investments is based on the classification of bank loans, which is carried out according to various criteria (Fig. 1.1).

There is an interpretation given by Yu.E. Menger: “The form of a loan is a combination of a number of elements that determine the main features of credit relations that are interconnected and designed for a specific type of credit relations” Suvorov A.V. A client for a bank or a bank for a client? //Finance and credit. 2007 . No. 6. P.24..

According to O.G. Semenota: “In a market economy, credit is divided into banking, commercial, consumer, state, and international credit” Yampolsky M.M. On interpretations of credit //Money and credit - 2007, No. 4. P. 140 ..

A bank loan is one of the most common forms of credit relations in the economy, the object of which is the process of transferring funds to a loan. A bank loan is provided exclusively to financial institutions that have a license to carry out such operations from the Central Bank. Legal entities act as a borrower, the instrument of credit relations is a loan agreement. The bank receives income from this form of loan in the form of loan interest or bank interest Beloglazova G.N., Tolokontseva G.V. Monetary circulation and banks: Textbook - Finance and statistics, M., 2007. S. 328 ..

Rice. 1. Classification of bank loans

The most common methods of lending to enterprises (legal entities) is the provision of the following credit services:

· opening a credit line, ie. conclusion of an agreement (agreement) on the maximum loan amount that the borrower can use within a specified period and subject to certain conditions of the agreement. The opening of a credit line should also be understood as the conclusion of an agreement for the provision of funds on any terms other than the terms of a one-time loan agreement. Repayment of a loan within the framework of a credit line can occur both at certain times and as funds are received on the borrower's account;

· crediting by the bank of the settlement (current, correspondent) account of the bank's client in case of insufficiency or absence of funds on it and payment of settlement documents received in the name of the client. Such a loan is called an overdraft;

participation in the provision (placement) of funds to a bank client on a syndicated (consortium) basis (several banks unite to issue a large loan);

syndicated lending. The creation of banking syndicates pursues the following goals: increasing the scale of operations by attracting additional resources, distributing risks, and maintaining a certain level of liquidity. Organizations and banks, through a syndicated loan, finance the needs usually associated with foreign economic activity, as well as with the investment sphere, the implementation of large-scale activities in such sectors as energy, ecology, and the introduction of scientific and technical developments.

Active and passive Bank operations. In the first case, the bank gives a loan, i.e. acts as a creditor, takes a loan in the second, i.e. is a borrower. The bank may enter into credit relations (take or give loans) with other banks (credit organizations), including the Central Bank, performing an active or passive function depending on the situation. In this case, interbank lending takes place. As for all other enterprises, organizations, institutions and individuals (non-financial sector of the economy), the bank's credit relations with them are of a different nature - here the bank is almost always the party that gives the loan.

According to the degree of security, it is possible to distinguish loans with full (sufficient), incomplete (insufficient) collateral and without collateral. Full collateral is available if the amount of collateral is equal to or greater than the amount of the loan. Incomplete collateral occurs when its value is less than the amount of the loan. The loan may or may not be secured. Such a loan is called blank. Most often, it is provided if there is sufficient confidence of the bank in the borrower, the bank's confidence in the return of funds provided to the borrower for temporary use.

Target loans are provided for a specific (target) object. Since a borrower may have more than one private purpose, he will have as many loan accounts as individual targets. When lending to aggregate needs, the debt is reflected in one loan account. The first group includes payment and overdrafts(loans provided for the payment of wages; completion of the offset of mutual claims, issuance of a letter of credit and purchase checkbooks). The second group includes loans designed to meet the needs of the borrower during the production and trade cycles. These are loans for the accumulation of inventory, production costs for gold mining, for trade and intermediary operations (including loans for financing domestic and foreign trade contracts, purchase of consumer durables by retailers). The third group includes loans associated with the need for capital gains, in modern domestic practice - a loan for the provision of working capital in the current year.

The specific form of the loan depends on the needs of the borrower, the ratio of the parties is determined and fixed in the loan agreement Medvedev N.I., Sergin A.M. On the credit activities of banks // Money and credit - 2007 - No. 7. P. 27 ..

The above classification of banking credit operations (like any other) generalizes Russian and foreign experience in this area, but cannot be considered exhaustive. New types and forms of bank loans are constantly emerging. This classification is very conditional, since in practice any loan meets not one, but several criteria and can serve as an illustration for several classification groups.

The legal framework for conducting credit operations by Russian commercial banks includes: several general rules from Part II of the Civil Code of the Russian Federation and more specific rules contained in the two main banking laws.

"Civil Code of the Russian Federation (Part Two)" dated 01/26/1996 N 14-FZ (adopted by the State Duma of the Federal Assembly of the Russian Federation on 12/22/1995) (as amended on 07/17/2009)

Art. 819 Loan agreement

1. Under a loan agreement, a bank or other credit organization (creditor) undertakes to provide money ... (credit) to the borrower in the amount and on the terms provided for in the agreement, and the borrower undertakes to return the amount of money received and pay interest on it.

Art. 820 Loan agreement form

The loan agreement must be concluded in writing. Failure to comply with the written form entails the invalidity of the loan agreement. Such an agreement is considered null and void.

Art. 821 Refusal to grant or receive a loan

1. The lender has the right to refuse to provide the borrower with the loan provided for in the loan agreement in whole or in part if there are circumstances that clearly indicate that the amount provided to the borrower will not be returned on time.

2. The borrower has the right to refuse to receive a loan in whole or in part, notifying the creditor about this before the term for its provision established in the agreement, unless otherwise provided by law, other legal acts or a loan agreement.

3. In the event of a breach by the borrower of the obligation, stipulated in the loan agreement, for the intended use of the loan (Article 814), the creditor shall also have the right to refuse further lending to the borrower under the agreement.

The existence of a contract cannot give the creditor complete confidence in his performance; in order to give the parties additional guarantees, the law provides for the possibility for them to conclude special agreements on securing the main obligation.

Art. 329 Ways to enforce obligations

1. Fulfillment of obligations may be secured by a forfeit, pledge, retention of the debtor's property, suretyship, bank guarantee, deposit and other methods provided for by law or the contract.

2. The invalidity of an agreement on securing the performance of an obligation does not entail the invalidity of this obligation (the main obligation).

3. The invalidity of the principal obligation entails the invalidity of the obligation that secures it, unless otherwise established by law.

The most common method is considered a penalty. This is the amount of money that the debtor is obliged to pay to the creditor in case of non-performance or improper performance of the obligation. The forfeit is convenient in that the penalty amount is collected for the very fact of the breach of the obligation, and the creditor is not obliged to prove the infliction of losses on him. The payment of a penalty may be provided for in the contract or the law.

The traditional way to secure the repayment of a loan is collateral. The pledge secures the claim in full by the time of satisfaction, covering the accrued interest, penalty, compensation for losses caused by non-performance, as well as the necessary expenses of the pledge holder for the maintenance of the pledged thing and the costs of recovery. A special case of collateral is a mortgage, i.e. mortgage of real estate.

The right of retention is the right of the creditor to retain, as security for the performance of an overdue obligation, the things of the debtor held by him for whatever reason until the performance of a certain obligation. Retention is possible and convenient when the creditor has a thing to be transferred to the debtor.

The main difference between a guarantee and a bank guarantee from other methods of security is the involvement of third parties in an obligation.

Federal Law “On Banks and Banking Activities” No. 395-1 dated December 2, 1990 determines that:

A credit institution is a legal entity that, in order to make a profit as the main goal of its activities, on the basis of a special permit (license) of the Central Bank of the Russian Federation (Bank of Russia), has the right to carry out banking operations provided for in this law.

Bank - a credit institution that has the exclusive right to carry out the following banking operations in aggregate: attracting funds from individuals and legal entities to deposits; placement of these funds on its own behalf and at its own expense on the terms of repayment, payment, urgency.

Art. 5 Banking operations and other transactions of a credit institution

Banking transactions include:

1) attraction of funds of individuals and legal entities in deposits (on demand and for a certain period);

2) placement of the this article raised funds on its own behalf and at its own expense;

3) opening and maintaining bank accounts of individuals and legal entities;

4) making settlements on behalf of individuals and legal entities, including correspondent banks, on their bank accounts;

5) collection of funds, bills of exchange, payment and settlement documents and cash service individuals and legal entities;

6) purchase and sale of foreign currency in cash and non-cash forms;

7) attraction to deposits and placement of precious metals;

8) issuance of bank guarantees;

9) implementation of money transfers on behalf of individuals without opening bank accounts (except for postal orders).

In addition to the operations listed above, a credit institution is entitled to carry out the following transactions:

1) issuance of guarantees for third parties, providing for the fulfillment of obligations in cash;

2) acquisition of the right to demand from third parties the fulfillment of obligations in cash;

3) trust management of funds and other property under an agreement with individuals and legal entities;

4) carrying out transactions with precious metals and precious stones in accordance with the legislation of the Russian Federation;

5) leasing to individuals and legal entities special premises or safes located in them for storing documents and valuables;

6) leasing operations;

7) provision of consulting and information services.

Art. 24 Security financial reliability credit institution

A credit institution is obliged to classify assets, separating doubtful and bad debts, and create reserves (funds) to cover possible losses.

A credit institution is obliged to comply with the mandatory ratios established in accordance with the Federal Law “On the Central Bank of the Russian Federation” No. 86-FZ dated June 10, 2002. The numerical values ​​of the mandatory ratios are established by the Bank of Russia in accordance with the said law.

Art. four Bank of Russia

1) is a creditor of last resort for credit institutions, organizes a system of their refinancing;

2) establishes the rules for making settlements in the Russian Federation;

3) establishes the rules for conducting banking operations;

4) establishes the rules of accounting and reporting for the banking system of the Russian Federation.

Art. 28 Interbank transactions

Credit organizations on a contractual basis can attract and place funds from each other in the form of deposits and loans. If there is a shortage of funds for lending to customers and fulfilling the obligations assumed, a credit institution may apply for loans to the Bank of Russia on the conditions determined by it.

Art. 29 Interest rates on loans, deposits and commission fees on operations of a credit institution

Interest rates on loans, deposits and commission fees on transactions are set by the credit institution by agreement with customers, unless otherwise provided by federal laws.

The credit institution is not entitled to unilaterally change interest rates on loans, deposits, commissions and the terms of these agreements with clients, except as otherwise provided in federal law or an agreement with a client.

Art. 30 Relations between the Bank of Russia, credit institutions, their clients and credit bureaus stories

Relations between the Bank of Russia, credit institutions and their clients are carried out on the basis of agreements, unless otherwise provided by federal law.

The agreement must specify interest rates on loans and deposits, the cost of banking services and the terms for their performance, including the terms for processing payment documents, property liability for violation of obligations on payment terms, as well as the procedure for terminating it and other essential terms of the agreement.

Members of a credit organization do not have any advantages when considering the issue of obtaining a loan or providing them with other banking services, unless otherwise provided by federal law.

A credit institution is obliged, in the manner prescribed by Federal Law No. 218-FZ of 30.12.2004 "On Credit Histories", to provide all available information. Necessary for the formation of credit histories, in relation to all borrowers who agreed to submit it, to at least one credit history bureau included in the state register of credit history bureaus.

Art. 34 Declaring debtors insolvent (bankrupt) and paying off debts

The credit institution is obliged to take all measures provided for in the legislation of the Russian Federation to collect the debt.

A credit organization has the right to apply to an arbitration court with an application to initiate insolvency (bankruptcy) proceedings against debtors who do not fulfill their debt repayment obligations in accordance with the procedure established by federal laws.

The main regulatory requirements of the regulator for the content and organization of the lending process in commercial banks are set out in a number of documents:

1. Regulation No. 54 of August 31, 1998 “On the procedure for the provision (placement) of funds by credit institutions and their return (repayment)”:

1) Used terms and general provisions.

Clients - legal entities and individuals, including other banks, regardless of whether they have or do not have an account with this bank.

Placement (provision) by the bank of funds - the conclusion between the bank and the client of a loan agreement drawn up taking into account the requirements of the Civil Code of the Russian Federation.

Money can be placed both in rubles and in foreign currencies in compliance with the requirements of the law.

The Bank develops and approves internal documents that determine its credit policy, as well as accounting policy and approaches to its implementation, documents defining:

· procedures for making decisions on the placement of funds by the bank;

· distribution of functions and powers between divisions and officials of the bank, including internal rules for the placement of funds, including rules for lending to customers.

2) Process requirements issuance of loans.

The bank issues loans in the following order:

· to legal entities - in a cashless manner by crediting funds to a settlement, current or correspondent account;

individuals - in a non-cash manner by crediting funds to a person's bank account or in cash through the bank's cash desk;

· Loans in foreign currencies are issued to legal entities and individuals in non-cash form.

The bank issues loans in the following ways:

One-time crediting of funds to bank accounts or issuance of cash to a borrower - an individual;

opening of a credit line;

· lending to the client's account (if there is insufficient or no funds on it) and payment of settlement documents from this client's account (if the conditions of the bank account agreement provide for such an operation). Lending to the account in case of insufficient or lack of funds on it must be carried out within the established volume limit and the period during which the arising credit obligations of the client must be repaid;

· participation of the bank in providing funds to the client on a syndicated basis;

· in other ways that do not contradict the legislation and regulations of the Bank of Russia.

A loan is issued on the basis of an order duly drawn up by specialists of the bank's credit division and signed by an authorized officer of the bank.

The creditor bank is obliged to create reserves for possible losses from lending activities in the manner established by the Bank of Russia.

2. Instruction No. 110 dated 16.01.2004 "On mandatory ratios of banks" establishes the numerical values ​​and methodology for calculating the following mandatory ratios of banks:

Sufficiency of own funds (capital) of the bank;

Bank liquidity;

The maximum amount of risk per borrower or group of related borrowers;

The maximum size of large credit risks;

The maximum amount of loans, bank guarantees and guarantees provided by the bank to its participants (shareholders);

The total amount of risk for the bank's insiders;

Use of own funds (capital) of banks for the acquisition of shares (stakes) of other legal entities.

3. Regulation No. 254 dated March 26, 2004 “On the procedure for the formation by credit institutions of reserves for possible losses on loans, on loans and equivalent debts”.

The need to form a reserve is due to credit risks in the activities of banks. The Bank forms a reserve for possible loan (credit) depreciation, i.e. against a possible loss of loan value (in whole or in part) due to the realized credit risk associated with this loan. The amount of such an impairment is determined as the difference between the loan's carrying amount (the balance of the debt on the loan reflected in the bank's accounts at the time of its valuation) and its so-called fair value at the time of valuation (the current market valuation loans). In this case, the fair value of the loan should be measured on an ongoing basis from the moment the loan is issued.

The reserve is formed for a specific loan or for a group (portfolio) of homogeneous loans. Forming a reserve, the bank, based on the category of the loan, determines the size of the so-called estimated reserve, i.e. a reserve reflecting the amount of its possible financial losses on the loan, which will be called as such, subject to the procedure for assessing credit risk factors provided for in the Regulation, but without taking into account the availability and quality of loan collateral.

2. Credit policy of the bank as a fundamental document for the implementation of bank lending

Before starting to issue loans, the bank must formulate its credit policy. The development of the bank's credit policy is one of the stages in the planning of the bank's credit activities. The credit committee, the board of directors of the bank, managers and loan officers must develop a philosophy covering all phases of lending activities. This philosophy, embodied in the credit policy, is the initial and initial element of the bank's credit work. Once a credit policy is in place, specific loans are matched against it through a unified loan approval process.

The Bank's Credit Committee is responsible for developing the credit policy, which then submits this document to the Board of Directors for approval. The Credit Committee determines the credit policy of the bank as a whole and determines possible risks taken over by the bank various types transactions determined by the Management Board of the Bank. The approval of the Board of Directors of the bank should follow only after careful consideration and discussion of the document. Thus, directors' understanding of the goals and objectives of the bank's activities is communicated to loan officers through a credit policy document.

In the loan policy document, the Credit Committee delegates the authority to loan officers to make decisions within the established limits. However, the Credit Committee cannot delegate to them its ultimate responsibility for loans granted to them. If there is no credit policy as a document in the bank, then the bank does not have the right to engage in lending at all.

Currently, in domestic practice, almost all large and medium-sized banks have documents on credit policies. However, credit policy often serves to justify the requirements of supervisors and external auditors, and not to express an understanding of the situation in the field of building credit relations of a particular bank and its development prospects. To be effective, the credit policy must be subject to periodic reviews: at least once a year, the Board of Directors and bank employees must analyze this document, report in writing on its compliance real work bank for this period. Each bank loan officer should be familiar with the document on the bank's credit policy and, ideally, have a copy of it for the reporting period.

The purpose of the bank's credit policy is to ensure a highly profitable placement of the bank's liabilities in loan products while optimizing risks and developing the client portfolio. The development of the client portfolio implies attracting new clients and retaining existing ones based on the diversification of the bank's loan products.

The general goal of the bank's credit policy can be detailed in the following areas:

1. determining the acceptable level of risk in the light of the desired profitability;

2. maximizing long-term income;

3. ensuring adequate liquidity and risk diversification;

4. meeting the credit needs of society;

5. ensuring the uniformity of the policy and procedures of the bank;

6. ensuring compliance with laws and regulations.

When forming a credit policy, banks are guided by the following principles:

Maintaining an optimal structure of operating assets, linked in terms of volume and timing with liabilities;

· Ensuring the efficiency of operations related to the placement of funds, which implies the excess of income from the placement of funds over the costs associated with raising funds;

the security of conducting operations related to the placement of funds and maintaining the reliability and liquidity of the bank (the bank, placing resources, seeks to receive income not at any cost, but taking into account the prospects for repaying the loan, assessing the realities of the market in which it operates, taking into account the requirements of regulatory organs, etc.);

· placement of funds taking into account the interests of the bank's shareholders;

· meet the needs of the market for loans within the scope of the bank's business activity.

Compliance with the above principles allows the bank to form both strategic and tactical directions in the organization of credit activities, thereby ensuring the efficiency and optimization of credit policy. The credit policy is determined under the influence of the strategic goals of the bank's development. Each bank independently develops a document on credit policy: it can be drawn up for a long term (several years) with annual clarification of its provisions, as well as for the current reporting year (the second option is most common).

Among the factors influencing the formation of the loan portfolio of banks, the specifics of the banking services market are singled out. Each bank must take into account the need for borrowed funds of the main clients of the selected market sector. In addition, the structure of the loan portfolio depends on the size of the bank's capital. It depends on this maximum amount of credit provided to one borrower. Larger banks are usually wholesale lenders, directing the bulk of their credit resources to corporations and other entrepreneurial firms. The key borrowers of the bank JSC "Joint Stock Commercial Savings bank RF, OJSC Vneshtorgbank, OJSC Gazprombank and other large banks are powerful industrial and financial corporations and companies. At the same time, many large banks also focus on providing small-sized loans to individuals, for example: Joint Stock Commercial Savings Bank of the Russian Federation, Bank St. Petersburg and others. Banks that are not included in the group of large ones specialize in providing loans to small trade and commercial and industrial companies.

Each bank must develop its own individual credit policy, reflecting its specific needs, and formalize it in the form of a document. In practice, the differences in documents on credit policies stem from the specifics of banks, their goals, markets, financial structures, the size and structure of the resource base, the intensity of the competitive situation, the experience of the staff. To be effective, a credit policy should be as concise as possible and at the same time sufficiently detailed. An obligatory element of credit policy is reasonable recommendations for working with practical applications for loans. When developing a policy, it is necessary to distinguish between policies and procedures. The policy establishes the philosophical foundations of the bank's lending activities, while the procedures should be reflected in the instructions, regulations for lending, developed in addition to the Bank's Credit Policy document.

The provisions that should be reflected in the document "Credit policy of the bank":

1. Introduction. An Introduction to the Bank's Credit Policy sets out the reason for the need for a formal document on credit policy and, in short, the general philosophy of the bank's lending activities. The introduction also indicates, taking into account the requirements of which documents, the Bank's Credit Policy was developed (federal documents, regulations Bank of Russia and internal documents of a commercial bank).

2. Goals of the bank's credit policy. The section establishes the most general goals and benchmarks that the bank intends to achieve in the field of lending. Common goals and benchmarks should determine the priorities of the bank in terms of profitability, liquidity, profitability, maximizing income from long-term or short-term operations within the established risks

3. Administration of credit policy. The section establishes procedures for updating, auditing and implementing the bank's credit policy, and determines the officials responsible for the implementation of these procedures. In most cases, these are credit managers of the bank. Evaluation of the effectiveness of the bank's credit policy, its compliance with the reality of the market and the activities of the bank itself is usually carried out regularly at the end of each reporting year and is taken into account when developing a credit policy for the next year. If necessary, the policy can be revised more frequently. Credit managers present the results of the analysis to the Board of Directors. Approval and revision of the policy is recorded in the minutes of the meeting. One of the objectives of a policy review is to ensure that the bank's policies continue to be consistent with the bank's mission statements, mission, and long-term and annual plans.

4. Mandatory credit approval criteria. The section defines the eligibility criteria for loan applications for a bank.

4.1 Purpose (purpose) of the loan, objects of lending. As a rule, banks set acceptable lending facilities separately for short-term and long-term loans. The structure of credited objects is determined by banks independently, taking into account the interests of borrowers (legal entities and individuals). The objects of lending in domestic banks according to short-term loans(in most cases for legal entities) are the following costs associated with:

the acquisition of inventory items (services) for the production of finished products;

· trading and purchasing activities;

sale of finished products and goods;

the implementation of intermediary activities;

· payment for contracts with foreign partners for the purchase of inventory items (loans in rubles provided for conversion, loans in foreign currency);

timely completion of settlements with a short-term gap between the receipt and expenditure of funds;

payment of wages (including for previous periods);

payments to the budget and extrabudgetary funds.

Acceptable objects of lending in banks, for long-term loans, are:

1. the cost of acquiring equipment, real estate and intangible assets;

2. lending to foreign trade operations, including those using letter of credit form settlements and bank guarantees;

3. pre-export financing;

4. expenses for the development of science and the implementation of scientific research;

5. for the purchase of property (movable and immovable property);

6. for transactions with securities;

7. for the modernization and expansion of production.

All loans provided by the bank must have a clearly defined purpose (purpose), which must be fixed in the loan agreement.

4.2 Market area. The definition of the market area (segment) should be consistent with the goals of the bank's long-term strategy. When choosing a segment, bank management should take into account its size and specifics, its experience, the ability to actually monitor loans, as well as the bank's ability to withstand adverse factors. Permissible exceptions to the selected segment should be specifically stated in the policy.

4.3 Required level of profitability of the loan portfolio, its dynamics.

4.4 Sources of repayment of loans. Loans are provided by the bank if the source of their repayment is clearly defined and fixed in the loan agreement, the scheme for repaying the debt by the borrower or a third party is clear. Sources of loan repayment are: proceeds from the sale of products, future income of the borrower. The sufficiency of sources is determined by the assessment of the financial position of the borrower and the prospects for its development. If this (so-called primary) source of loan repayment is highly reliable, then the loan can be provided by the bank without collateral. The very need for provision implies more high level risk, therefore secured (collateral, surety, etc.) loans have an average high degree of risk.

The credit policy of the bank may allow the provision of loans without the borrower having a specific loan repayment program (for example, a line of credit to replenish the borrower's working capital secured by its assets). However, such loans must be clearly defined, and be under the special control of the bank.

In a credit policy document, it is sometimes easier to name loans that are undesirable for a bank than those that are preferred by it. General characteristics of such junk loans may include:

Loans for speculative purposes;

One-time loans, on the basis of which it is impossible to establish long-term credit relations with the client;

· unsatisfactory terms of loans (taking into account the nature and urgency of the resources attracted by the bank);

· loans to new enterprises, the level of capitalization of which is below the standards established by the bank.

1. Criteria for preference in the field of lending. Here the bank prescribes detailed priorities in the field of lending, keeping in mind the preferred ones for this bank:

· geographic regions of placement of funds in the credit market and the ratio between them;

· Concentration of loans by industry;

· the structure of loans by terms, types of currencies;

· priorities in relation to lending subjects;

· creditworthiness classes of borrowers with whom the bank works, and differentiation of lending conditions for acceptable creditworthiness classes of borrowers;

· the planned level of the loan portfolio in the bank's assets;

· the planned level of prolonged loans, problem loans, overdue loans in the bank's loan portfolio;

· the maximum level of large loans, as well as loans of bank shareholders in the portfolio;

methods of lending and customer service schemes;

· forms of collateral for repayment of loans, including detailed requirements for registration for each preferred form of collateral;

· methods of establishing loans (a credit policy should establish approaches to pricing loans, taking into account such aspects as the level of credit risk, liquidity, the sensitivity of the loan to fluctuations in interest rates in the market and bank rates, balances on deposits, the cost of servicing a loan);

· Interrelation of credit and deposit relations with the client. The policy should reflect the attitude of the bank to the existence of a deposit relationship with the client as mandatory condition granting a loan; today domestic banks give preference to their clients, including founders and created subsidiaries (dependent) companies;

Shared lending - the attitude of the bank to the fact that the borrower also receives loans from other banks should be fixed in the policy;

· a combination of loans of varying degrees of risk at the reporting dates;

· the concentration of debt by risk is periodically analyzed by the bank's managers for compliance with the credit policy of the bank;

ways to ensure credit information(all loans must be supported by current up-to-date information - accounting (financial) statements, credit bureau reports, customer business survey materials and loan collateral checks);

· options for restructuring the loan portfolio in times of crisis.

2. Powers to issue loans. These powers can be delegated by the Board of Directors of the bank, depending on the size of the bank:

· credit committees of various levels (the head office of the bank, branches), the Board of the bank, the composition of which is determined by the credit policy document;

a specific employee of the bank, for example, the head of the credit department (department), the manager of the bank's branch;

· specific employees or bodies of the bank who have the right to delegate the powers granted to them further down.

In domestic banking practice, the first collegial version of the approval of the issuance of loans has received the greatest development.

At the same time, the credit policy of the bank should determine on what terms and what loans should be approved directly by the Board of Directors of the bank. These aspects usually include:

· trends in the quality of the loan portfolio, reflected in the riskiness rating, lists of especially controlled (overdue, problem) loans;

· loans granted to insiders of the bank, its subsidiaries and affiliates;

· trends in the use of credit lines, overdrafts, letters of credit, guarantees;

· types of loan applications that were rejected by loan officers;

· Qualification of loan personnel and staffing.

This section of the bank's policy also determines the procedure for setting credit limits for borrowers (groups of related borrowers). The maximum loan amount that can be issued to one borrower (a group of related borrowers) may comply with the regulatory requirements of the Central Bank of the Russian Federation, or may be set at a lower amount at the discretion of the bank.

7. Loan administration. The section defines the norms of responsibility for credit monitoring in the bank. The main subsections are as follows:

management of credit affairs; the policy should impose responsibility for opening and maintaining credit cases, determine the procedure for completing them with the necessary documents, the conditions for opening credit cases and access to them;

· provision; the policy should define the responsibility of loan officers for demanding from the borrower (third party) collateral, guarantee, bank guarantee, control and management of loan collateral;

monitoring of loans issued by the bank; here, the responsibilities of loan officers for further control over granted loans should be defined, they include maintaining communication with borrowers and, if necessary, protecting the interests of the bank;

audit of loans; the policy usually establishes who should assess the quality of loans, how often and for what purposes, as well as to which body of the bank the results of the assessment should be provided;

Identification of problem loans and procedures for dealing with them. The following are determined: the criteria for classifying loans in this category, the responsibility of loan officers for identifying problem loans, procedures acceptable for the bank to work with such loans;

· Creation and revision of the reserve for possible losses on loans. The policy establishes approaches to the formation of these reserves, the frequency of revision of the created reserves;

write-off of loans; this lists the conditions under which loans are written off the bank's balance sheet (at the expense of the created reserve or at a loss), and provides the conditions for monitoring the debt written off the balance sheet.

The role and mechanism for implementing the bank's credit policy.

· the bank's lack of its own credit policy means that it does not plan the credit process, which accordingly dooms the bank to unconditional failure, especially in the medium and long term;

· high-quality credit policy contributes to meaningful coordination of the bank's efforts in the credit market. It also ensures the activities of the units involved in the lending process, significantly reduces the risk of incorrect management decisions, gives the bank management important criteria for assessing the quality of the loan portfolio and setting up the lending process in the bank as a whole.

The function of the bank's credit policy is to optimize the credit process.

Having determined the main development guidelines for the near future, the key strategic objectives, the bank proceeds to develop the main directions for achieving the set goals along the lines of:

· increase in own capital and volumes of attracted resources;

· Improving the efficiency of the bank's credit policy;

· activation of the investment policy

· Development of the branch network;

· activation of the client policy;

Improving the management system of the bank and its activities;

· improvement of banking settlement technologies;

development international activities and transactions in foreign currencies.

The bank's services draw up a detailed, detailed action plan for the implementation of the main directions of the bank's strategy.

"Credit policy" - the main document that guides and regulates the activities of the bank in the field of lending. The compliance of day-to-day operations with the credit policy document is ensured by credit managers and their subordinate employees. In this regard, all provisions of the document on credit policy should be supported by practical measures that are designed to ensure its implementation. Such measures must be reviewed and approved by the bank's management, and the relevant decisions are formalized in the form of documents.

These measures should include those that will enable the bank to:

to expand the resource base;

establish and, if necessary, revise the values ​​of acceptable risks and credit limits;

· diversify their credit services and improve their quality, expand the clientele of borrowers;

· to better orient the creditworthiness of borrowers, guarantors, guarantors, to achieve an increase in the level of repayment of loans;

· timely and in the required amount to form reserves for credit risks;

· to improve the organizational, information-analytical and methodological support of the credit process.

These measures are implemented as procedures in a mandatory set of instructive and methodological materials for each bank, regulating various aspects of organizing its work in the credit market. This set of materials includes:

1. Regulations on the credit division of the bank;

2. Job Descriptions employees of the credit department;

3. Regulations (regulations) for credit operations; in the most desirable version, it may include the following sections:

the list and content of documents provided by potential borrowers, as well as the requirements imposed on them by the bank,

calculation, approval and verification of compliance with credit limits for borrowers,

consideration of loan applications and authorized issuance of loans,

preparation and conclusion of loan agreements, authorization of their prolongation,

interaction between departments involved in the credit process,

provision of loans, debt servicing and repayment,

Reflection in the accounting of loan transactions

1. Regulations on the provision of interbank loans and placement of deposits in other banks. The Regulations provide:

List and characteristics of documents required to be provided by borrowing banks to the creditor bank in order to obtain a loan;

· the procedure for calculating and using risk limits when carrying out operations in the domestic interbank market and for deposit operations with non-resident banks;

· the procedure for the operational management of the bank's resources based on the policy of managing the assets and liabilities and liquidity of the bank;

· the procedure for authorizing the issuance of interbank loans; the procedure for recording transactions in accounting;

2. Separate provisions on lending to legal entities in the context of types of lending acceptable to the bank (one-time loans, overdrafts, open credit lines, factoring, mortgage, investment loans, etc.);

3. Regulations on lending to individuals for consumer purposes, for entrepreneurial activities, etc.;

4. Regulations (Methods) on working with security obligations for the repayment of loans used in the bank and on the procedure for their execution;

5. Regulations on the procedure for providing guarantees in favor of third parties;

6. Regulations on the procedure for accounting for promissory notes and promissory note lending to borrowers;

7. Regulations on the procedure for the formation and use of reserves for possible losses on loans and debts equivalent to them;

8. Regulations on the Bank's Credit Committee;

9. Guidelines for analysis:

the financial condition of borrowers, including banks,

the quality of the bank's loan portfolio,

Execution of credit agreements;

10. Methods:

calculating the price of loans, reflecting the accrual and payment of interest for loans on accounting accounts,

determining the sufficiency and liquidity of collateral,

conducting interviews with borrowers, third parties,

Checking the borrower's credit history, obtaining additional information about him from third parties.

In this regard, in theory and practice, there are three types of risk strategies in the field of lending.

1. High-risk strategy. It can lead to an increase in the profitability of the bank, implies a general focus on a significant weight of high-risk and at the same time high-profit operations. Such a strategy has a limitation: its implementation is possible within a short period of time and subject to a relatively stable macro environment, the bank has an effective marketing service and highly qualified personnel.

2. Risk diversification strategy. It enables a rational ratio of profitability and reliability of the bank. However, when implementing such a strategy, the bank is often forced to refuse highly profitable transactions with a relatively high degree of risk.

3. Risk minimization strategy. It increases the reliability of the bank, on the one hand, but means a practical rejection of highly profitable operations, which, ultimately, worsens the profitability of the bank.

Depending on the economic situation in the country, the state of competition in the banking market and its financial position, the bank chooses a specific strategy in the field of lending at one time or another.

3. Problems of forming an optimal loan portfolio

The general economic situation caused a slowdown in the growth of retail lending. The total volume of loans extended to individuals increased in 2009 by 35.2% to 4,017.2 billion rubles. (by 57.8% in 2008), while their share in the banking sector's assets decreased from 14.8% to 14.3%. Data on the amount of loans are given in table 1.

Table 1

Loans, deposits and other placed funds (according to the Bank of Russia), at the beginning of the month, billion rubles

	Total amount of placed funds
		loans and other placed funds provided to organizations	loans, deposits and other placed funds provided to credit institutions	loans granted to individuals
September
September

Sberbank remains the leader in the lending segment, which reduced the volume of loans issued in 2009 (compared to 2008) by only 11.5%. Most of the largest market participants showed a decrease in lending by more than 20%. Among the drop leaders are Uralsib (-59.11%), VTB 24 (-56.82%) and UNIASTRUM BANK (-58.67%). Moreover, the largest rates of decline were shown by those banks, which were characterized by long lending terms. Thus, in Vozrozhdeniye and Center Invest banks, which showed the least significant drop among the banks from the TOP-10, 85% of all loans were issued for a period of up to 1 year, while the share of long-term loans in UNIASTRUM BANK, VTB 24 and Promsvyazbank exceeded 70% www. cbr.ru.

Among the market participants that showed the highest growth rates are both large players - Tatfondbank (more than 3000%), NB TRUST (66%), and regional banks - Ring of the Urals (more than 3500%), Asia-Pacific Bank (244%), Metkombank ( 156.37%) and KAMABANK (273.07%). The reason for achieving such results in most cases is the strengthening of work in the segment with an initially lower base. For example, the results of Kamabank are explained, in particular, by the gradual reorientation of the bank from mortgage lending to work with small and medium-sized businesses that began at the end of 2008.

Table 2 shows the largest Russian banks lending to small and medium business in 2009.

table 2

The largest banks lending to small and medium businesses

		SME loans issued in 2009, thousand rubles	Growth rate 2009/2008
	Sberbank of Russia**	About 500 billion rubles
	Bank "Revival
	KB Center-invest
	Tatfondbank
	SEVERGAZBANK
	Promsvyazbank
	UNIASTRUM BANK
	CB AGROPROMCREDIT
	LOKO-Bank
	Kurskprombank
	KB Khlynov
	Regiobank
	KB RING OF URAL

The share of loans and other placed funds (in rubles and foreign currency) granted to organizations for a period of more than 1 year in the total volume of loans issued to them and other placed funds, distributed by maturity, as of December 1, 2009. amounted to 69.3% against 68.2% as of November 1, 2009.

The following features are characteristic of the modern practice of lending to small businesses:

lending purposes: replenishment of working capital, purchase of vehicles, equipment, real estate, covering cash gaps, acquisition of non-current assets, investment lending, repair of retail or industrial premises, purchase of goods, opening of retail outlets, expansion of production, acquisition of fixed assets, business development;

· terms of crediting - from 30 days to three years depending on the purpose of crediting;

· interest rates on loans - from 10% to 30% depending on the type of loan;

· the amounts of loans granted range from 5 thousand to 10 million rubles;

security - goods in circulation, equipment, vehicles, securities, real estate, personal property of the owner of the enterprise, acquired property;

participation of third parties - international financial organizations, the Government, non-governmental public organizations, insurance companies, collection agencies, appraisal companies etc.

Despite some recovery in the market, lingering macroeconomic risks are forcing banks to minimize their exposure to the long-term state of the economy and lend short, based on the assumption that the situation will be relatively stable, at least in the near term. At the end of 2009, 66% of loans were issued for up to 12 months, and taking into account overdrafts, this figure is more than 70% (Fig. 2). It should be noted that in 2008 only 46% of all loans (excluding overdrafts) were issued for up to 12 months.

The sectoral structure of the market indicates a significant decrease in the share of trade enterprises in loans issued: if in 2008 the share of loans issued to retail and wholesale trade organizations amounted to 51% of the total volume of lending to SMEs, then in 2009 it fell to 39% (Fig. 3). ). The reason for this decline is that in a crisis, the main type of collateral typical for commercial enterprises - goods in circulation - is perceived with skepticism by most banks.

At the same time, only wholesale trade actually suffered - its share in the volume of loans issued decreased from 31% to 20%, while the share of retail decreased by only 1 percentage point. This is explained by the fact that wholesalers deal with a number of small traders and, in general, it is more difficult to calculate their risks than for retailers. At the same time, the bulk of retailers are focused on consumer goods, which are distinguished by a rather low price elasticity of demand, which has a supporting effect on this market segment during the crisis.

Rice. 2. Structure of issued loans by terms in 2009

Rice. 3. Sectoral structure of loans in 2008-2009

On the other hand, the share of loans issued to construction companies increased over 6 months of 2009 by 6%. Such dynamics looks surprising, given that the deterioration in the quality of borrowers has affected this segment the most. At the same time, in our opinion, this fact is a consequence of the active on-lending of borrowers, which a number of banks began to practice during the crisis. The essence of this tool is that on the same day the loan is first formally repaid, and then a new loan is issued to the borrower almost immediately. As a result, on-lending makes it possible to mask the deterioration in the quality of the loan portfolio, create reserves in a smaller volume and, as a result, reduce pressure on capital. However, in the future, such a practice may have an extremely negative impact on the quality of assets and financial stability of credit institutions. However, the share of construction companies in the SME lending segment is not large enough to exert the same strong pressure on banks' capital and profitability as builders from the corporate segment.

Another sector that showed growth is manufacturing: the share of loans received by borrowers from this industry increased from 12% to 16% over the first half of the year. Many of them are able to offer relatively firm collateral - industrial premises, which are most often owned by them, which acts as one of the incentives for a more active expansion of lending from banks.

Among the problems of the development of banking credit operations, the most relevant at the present stage are the following:

At most of our banks don't have enough money(own and attracted) in order to issue loans for large amounts, which are sometimes required large enterprises, or at the same time many loans of different volumes to a significant number of borrowers.

Sources of replenishment of banking resources are well known, such as:

funds of enterprises and organizations;

means of the population;

· Own funds (part of the profit) of banks.

Over the past few years, Russian banks have been increasing their capital mainly from their own profits, but during the crisis it was virtually non-existent. They also try to attract money from the population, enterprises and organizations, including foreign organizations, including in the form of so-called subordinated loans and borrowings, however, in this way, mainly short-term liabilities are formed (except for subordinated loans and loans and funds newly contributed to authorized capitals).

Although the growth of bank liabilities at the expense of deposits of enterprises and organizations is taking place, it is very difficult, since the financial situation of the majority Russian enterprises remains extremely tense at best.

A potential channel for the formation of long-term liabilities by banks is the funds of pension and mutual funds. However, the practical use of this channel in Russia is associated with significant difficulties, which is primarily due to legislative restrictions on the operations of funds: the bulk of their funds must be placed in government securities of the Russian Federation and constituent entities of the Russian Federation, in bonds and shares of Russian issuers established in the form of OJSCs, and into mortgage-backed securities issued in accordance with the legislation of the Russian Federation. Although the legislation in principle allows the placement of pension funds in ruble and foreign currency deposits in Russian credit institutions, in practice this channel for the formation of long-term liabilities by banks does not work.

One of the possible ways for banks to quickly increase their assets is to attract foreign capital into the country's banking system. This process can and does take place in various forms:

· entry of foreign legal entities and individuals into the authorized capital of Russian banks (acquisition of a strategic investor);

sale of domestic credit institutions to foreign persons;

receipt by our banks of credits and loans abroad, including from foreign organizations;

· cooperation of banks with foreign insurance companies, etc. In this way, some Russian banks solve some of their problems, although at the same time they give rise to other problems. However, for the Russian banking system as a whole, this method is associated with such a strategic risk as the possibility of the situation developing according to the Eastern European scenario, i.e. the possibility of transferring full control over the national banking system into the hands of foreigners, which cannot be considered acceptable, since the national banking system is a necessary component of national economic and political sovereignty.

All Russian banks have too few "long-term resources" (the vast majority of liabilities can be obtained for short periods of time) for this, so that they can issue loans not only for short and medium, but, if necessary, for long periods (over 3-5 years) . The very resource base of the Russian economy (meaning the part of it that is in banking) is simply incomparable in volume with the scale of the entire economy. In terms of its capital, assets, and loan portfolio, the Russian banking sector as a whole is a financial dwarf in comparison with many foreign banks, not even the largest ones.

This happens for several reasons, the main of which are the following:

Firstly, because the state artificially deprived the banks of pension funds, insurance funds, and budgetary funds. This was done under the pretext that budget money should be under the control of the Federal Treasury ( structural subdivision Ministry of Finance). As a result, the state, like a stingy knight, “sat” (before the global economic and financial crisis) on huge money and did not refuel it in any useful business, thinking in this way to “crush” inflation.

There was a striking contradiction: the state, accumulating huge resources belonging, by the way, to the entire Russian society, allocated everything last years an extremely insignificant part of the funds for building up the economic potential, believing that this is “extra” money and the domestic economy is not capable of mastering it, the mood was diametrically opposite - it does not agree with either the deadening of funds or the too modest pace of economic and social development. It turned out according to the formula: "the bottom can, but the top does not want to."

One can only be surprised that someone in power structures believes or believed that state funds can be saved by hiding them from society, from the economy, into a separate “pot”. With such a financial ideology, it remains to take a truly last step towards, as in the years of "war communism", to completely abandon money.

The authorities argued that if budgetary, pension and other similar funds were returned to bank circulation, then the money could be stolen. However, this is not an argument and not a way to "save" funds. After all budget resources banks were not robbed. In all cases, officials could and can do this - using banking tools or without it.

There is another side of the issue here. It is clear that the Treasury must control how public funds are distributed and how they are used. But it does not follow from this that this body should perform the functions of banks in terms of settlement and cash services for enterprises and organizations that have received any budget money. Budget control exercised by the Treasury over targeted distribution and use of funds, and settlement and cash services, which, according to our own legislation, only credit organizations are entitled to conduct, are completely different things.

Secondly, the largest and richest domestic companies, including state-owned companies, often keep their considerable free money in foreign banks, thereby financing the economy of foreign countries, although the rest of their economy is suffocated by a lack of available financial resources.

Thirdly, there is such a reason as the high cost of funds attracted by our banks. It is formed as a result of the action of a number of factors, of which the following can be noted:

· the refinancing rate supported by the Central Bank;

The level of inflation

administrative burden, expensive and financially imposed on banks in the form of the need to perform a number of functions that are not characteristic of them ( currency control, control over the cash discipline of clients, counteracting the legalization of proceeds from crime, ensuring that taxpayers - clients of banks fulfill the obligation to pay taxes and fees, etc.);

· the need to spend considerable effort, time and money on compiling and submitting to various authorities huge volumes of all kinds of reports.

Objectively very high risks, which are assumed by banks lending to domestic enterprises, organizations and individuals. This is also due to a number of reasons, but the main among them can be considered the fact that there are too many unprofitable and low-profit industries in the Russian economy.

In order to reduce the risks of lending, it is first of all necessary to strengthen the economy of enterprises and organizations, giving them the necessary prospects and possible guarantees, creating appropriate general terms and Conditions for their reliable functioning, put things in order in the calculations for government orders etc. Of particular importance is the quality of accounting and reporting in enterprises and organizations. A loan cannot be reasonably granted if the borrower's balance sheet and other information provided by him do not reflect his real situation.

The socio-economic and economic financial policy regional authorities and local governments.

Other reasons hindering the development of the banking credit process are:

ignorance or too superficial knowledge by employees of most banks of the specifics of their clients' activities - manufacturing enterprises, which prevents them from communicating with the latter “in the same language”, adequately understanding their problems and, accordingly, finding ways to solve them that suit both parties, competently conduct an on-site check, and determine the true creditworthiness of an enterprise - a potential borrower. Bank customers know inexcusably little about banking;

· Poor processing in many banks, even the basic banking financial technologies, not to mention management technologies;

· the lack of a full-fledged and internally consistent set of internal management and regulatory documentation in almost every bank. There are banks that do not even have regulatory acts of regulatory bodies;

Lack of business culture in the majority of economic entities. Thus, potential bank borrowers are often unable to prepare a business plan, make a feasibility study (feasibility study) of their project;

· Defects in management and low transparency of borrowers, the lack of liquid assets in many of them, which could be collateral for loans, or guarantees and guarantees.

The role of the Central Bank and the Government of the Russian Federation is not active enough in creating conditions for a more intensive development of the country's banking sector in general and expanding opportunities for the capitalization of banks and further intensifying, on this basis, their lending activities in particular.

As experts rightly point out, the monetary policy of the Government and the Central Bank of the Russian Federation should contain a section on the development of the credit market, specific mechanisms for stimulating lending, especially in terms of the long-term loan market. So far, there has been no adequate response to this obvious need. The monetary authorities, demonstrating the miracles of economic logic, answer that to develop the credit market means to increase the money supply, and this will lead to an increase in inflation, while the main task monetary policy according to the same "logic" - to suppress inflation. It turns out that our monetary authorities have mastered well (before the global crisis that began at the end of 2008) only one operation with money - their sterilization as a dangerous economic phenomenon.

The infrastructure supporting the credit process is clearly underdeveloped, including two blocks - external and internal. The external block can include all the collateral that operates outside the bank (the activities of various bodies and auxiliary organizations), the internal block - everything that the bank creates to support its lending process. Common to both blocks is the level of scientific, legislative, regulatory, technological, informational, methodological, and personnel support of the credit process that they support.

Thus, the information support of the credit process, including the provision of statistical information, audit and “rating” of banks, and the work of analytical services of banks, require serious improvement. Methodological support needs to be fundamentally improved and enriched, in particular, through instructions and recommendations from regulatory bodies on issues arising in the lending process. The preparation of such methodological materials cannot be considered the exclusive task of the Bank of Russia. Since commercial banks themselves need it, they could, through their associations, develop a complete package of relevant standardized materials and use them together.

Banks face many artificially created difficulties in lending. Thus, bankers rightly believe that if they work in accordance with the provisions of the Regulation of the Central Bank of the Russian Federation No. 254 “On the procedure for the formation by credit institutions of reserves for possible losses on loans, on loan and equivalent debt”, then in principle there are no borrowers in the country who can it would be to issue a loan of the 1st (a loan with zero risk), or even of the 2nd category of quality (a loan with a moderate level of risk). It is not normal when documents of this kind are written and adopted without taking into account the realities of the economy. This narrows the resource base of banks and reduces the chances of their clients to receive loans. As a result, economic development is hindered.

The rights of credit institutions as creditors are poorly protected. The legislation and regulatory framework in this area contains significant gaps that have created unique conditions for fraud by unscrupulous borrowers, illegal “withdrawal” of assets from debtor enterprises and organizations even during competitive procedures, making it difficult and sometimes impossible for banks to collect debts, leading to to an increase in the share of problem loans in the total loan portfolio of domestic banks. Judicial practice is also dominated by stereotypes that infringe on the interests of bona fide creditor banks.

This situation is ultimately due to a lack of understanding by both state institutions and the general public of the systemic role of banks in the economic life of the country. Meanwhile, the creation of reliable guarantees for the repayment of debts in lending is in the interests of society for several reasons. Firstly, banks carry out operations at the expense of funds raised, including from private depositors who entrust their savings to them. Therefore, the situation when banks do not have guarantees for the repayment of debts by borrowers jeopardizes the safety of funds of wide sections of citizens. Secondly, the lack of predictable mechanisms for repayment of debts makes lending less accessible for businesses. Thirdly, banks are forced to redistribute high risks among borrowers by raising rates. And it turns out that it is conscientious borrowers who have to compensate banks for the risks associated with inefficient mechanisms for repaying debts.

A cardinal and modern solution to the problem of expanding the sector of lending to small businesses by Russian banks could be the refinancing of banks' loan portfolios secured by the rights of claim on the agreements concluded by them. loan agreements with small businesses using capital market instruments, for example, by issuing bonds. The stock market will get new tool investment, and less risky than unsecured corporate bond. It seems appropriate to consider the Stabilization Fund of the Russian Federation as one of the sources of refinancing. The resources of the SF will be channeled through banks to implement business projects of small enterprises and will really be able to lay the foundation for the future "non-resource economy".

This tool will increase the financial capacity of banks to provide loans to small businesses and to reduce the interest rate on loans. At the moment, this financial instrument is not used in the Russian Federation due to the lack of legal regulation of this market segment.

The current legislation provides for the issuance of bonds secured by a pledge of rights of claim on mortgage loans (more precisely, a pledge of mortgage coverage, which includes, among other things, the specified rights of claim). These relations are regulated on the basis of Federal Law No. 152-FZ dated November 11, 2003 “On Mortgage Securities”. To date, only a few issues of mortgage-backed securities have been made, which can be partly explained by the stringency of the law and the underdevelopment of the mortgage lending market. The law establishes a large list of special requirements for loans, rights of claim, which can be included in mortgage coverage. With the exception of claims on mortgage loans, the law does not provide for the pledge of claims on other credits (loans), in particular those granted to small businesses, as security for rights on securities, which should be changed.

Conclusion

The Russian market of banking services in the context of financial globalization is going through a stage of accelerated formation of organizational capital based on a promising model of interaction between banking and other financial institutions expanding the possibilities for ensuring the capitalization and consolidation of the national banking sector based on the expanded participation of information capital in the modernization of banking activities aimed at creating competitive advantages for national financial and credit institutions.

Development strategy Russian market financial and credit services under the influence of financial globalization is based on the fact that one of the priorities of the state economic policy is the formation of a competitive Russian banking sector capable of developing on its own base, being an effective tool for ensuring sustainable economic growth. As part of a strategy aimed at increasing the competitiveness of national banks, the state's impact on the banking sector should be carried out through the formation of a regulatory framework for the activities of credit institutions, the functioning of the financial services market.

Profitability in the real sector does not allow, taking into account inflation, to ensure the repayment of medium-term and long-term loans on favorable terms for commercial banks. The low return on capital in the real sector (increase in the time for development of investments, decrease in the return on fixed production assets) will not help attract investment even in the face of declining inflation.

Moreover, a number of factors that are generally favorable from the point of view of macroeconomics have a rather contradictory effect on the development of credit institutions. Thus, a significant slowdown in inflation, a drop in the yield of securities government papers, sometimes negative profitability of the currency and stock markets lead to a deterioration in the financial position of credit institutions.

It is hardly possible to assume that under such conditions, free financial resources, and after them all banks, will rush to the real sector of the economy. Therefore, in our opinion, there are no grounds yet to believe that investments will appear in the near future.

First, the risks of investing in industry remain prohibitively high. This is especially true for capital-intensive investment projects. Lending to industrial enterprises is currently intended, as a rule, to compensate for a temporary shortage of working capital, is of a short-term nature and is carried out either for specific export deliveries, or for finished and liquid products. The degree of risk of long-term capital investments remains incompatible with the potential rate of return on these investments. High risks cannot be eliminated without improving the financial condition of enterprises. Obviously, within one year it will not be possible to radically improve the state of finances of economic entities and carry out a successful reform of enterprises under any circumstances.

Secondly, the fall in the yield of financial market instruments reduces investment opportunities banks, makes their financial position unstable. Banks, concerned about the state of current liquidity, are unlikely to be inclined to investment projects. It should also be noted that even under the condition of a relatively favorable economic situation, the total financial resources of a significant part of Russian credit organizations are insufficient to ensure serious capital investments in industry, transport or communications.

An analysis of the credit policies of Russian banks showed that the global financial crisis has a negative impact on the credit market: there is a shortage of credit resources, interest rates have increased, and requirements for borrowers have become more stringent. The lending activities of the North-Western Bank of the Security Council of the Russian Federation (OJSC) are developing in line with market trends: rates have increased, the volume of new loans has decreased, requirements for borrowers and collateral have increased. In 2009, the following structure of the loan portfolio of the North-West Bank of the Security Council of the Russian Federation (OJSC) was formed: the main share (60%) falls on ordinary commercial loans to enterprises and organizations, the share of interbank loans is 13%, and the share of loans to individuals is 27%. During the analyzed period, the net loan debt of the North-Western Bank of the Security Council of the Russian Federation (OJSC) decreased by 160,455 thousand rubles. The main share (61%) was short-term investments. During the year, the most demanded by the bank's clients were loans with maturities from 6 months to a year, which accounted for 30.5% of loan investments. 75% of loans are loans issued in the currency of the Russian Federation. The growth rate of interest income on granted loans was 1.08 times higher than the growth rate of total income due to the growth of interest rates. The main share (85%) in the loan portfolio is made up of loans with a minimum and moderate level of credit risk, categorized as "standard" and "non-standard". However, over the analyzed period, the quality of the loan portfolio deteriorated: the share of non-standard loans increased by 2.90%, the share of doubtful loans - by 0.18%, the share of problem loans - by 0.55%, the share of bad loans - by 0.21%.

It is recommended to improve the lending process in the bank in the following areas: a) to assess the creditworthiness of borrowers not only in the process of considering the borrower's loan application, but also in the course of monitoring the borrower, as well as in the process of considering the need and possibility of changing lending conditions; b) it is advisable to analyze information about borrowers on the basis of various sources (credit bureaus, exchange of information with other banks). The forecast of the dynamics of the loan portfolio allows us to conclude that by the end of 2010 its volume will grow by 20%, while the forecast for the level of interest income indicates their decline by 6.1%. The decrease in interest income with the growth of the loan portfolio is explained by the fact that at the end of 2009 banks reduced the issuance of loans and raised interest rates due to the liquidity crisis. In accordance with the received forecast, the situation in the credit market should normalize: lending volumes will increase, and interest rates will start to decrease.

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ANNOTATION

The article provides an overview of the main indicators of the corporate lending market, in particular the dynamics of overdue debt, as well as the measures used by banks to reduce it.

Keywords: lending, legal entities, corporate clients, commercial banks, arrears.

Introduction. The development of the corporate lending market plays an important role in maintaining the stability of the country's economy. The provision of loans to legal entities contributes to the start, development and maintenance of their entrepreneurial activities, and, accordingly, the creation of new jobs, the reduction of unemployment, the increase in the volume of manufactured products (goods), and the promotion of export relations with other countries.

Purpose of the study. Conduct a study of the indicators of the bank lending market for corporate clients, in particular the volume of overdue debt, consider measures aimed at reducing debt.

Compared to 2018, this year, the dynamics of corporate lending is generally restrained. There is a slowdown in lending to the corporate segment, for 9 months of 2019. the volume of issuance increased by 3.6%, in 2018. this figure was 5.5% (Figure 1). In August 2019, there was an acceleration in lending by 0.6%, but in September the growth slowed down to 0.1%. At the end of Q3, the average monthly increase in corporate lending was comparable to the weak dynamics in Q2 2019.

Figure 1. Dynamics of the volume of loans issued to non-financial organizations, monthly growth, 01.01.2018-01.10.2019, %

The weighted average interest rate on ruble corporate loans for a period of more than 1 year in the banking sector in August 2019 decreased compared to May 2019 from 10.0 to 9.1% per annum and reached the level of August 2018 (Figure 2).

Figure 2. Weighted average interest rates on loans in rubles for a period of more than 1 year, 01/01/2016-08/01/2019, %

A study of the dynamics of overdue debt showed that in the total loan portfolio, the share of loans of 4 and 5 quality categories decreased from 12.2% to 12.1% in January-August 2019. The trend towards improving the quality of the corporate portfolio continues.

The degree of coverage by reserves for possible losses on loans to corporate clients of the 4th and 5th quality categories has improved - in January-August 2019, this indicator increased from 81.9 to 85.1%.

The increase in the debt of non-financial organizations and individuals in a broad definition for 2018 amounted to 11.6%, which is slightly lower than the growth economic activity in nominal terms. Over the same period, nominal GDP increased by 12.5%. In this regard, the indicator "Debt / GDP" for 2018 decreased by 1.3 p.p., to 74.5%.

Debt on ruble loans to non-financial organizations increased by 7.1%. in the period from October 1, 2018 to April 1, 2019 Due to the replacement of loans in foreign currency for loans in rubles, for loans to companies engaged in coal mining, for a wide range of agricultural companies and companies engaged in operations with real estate, there was a significant increase in loan debt on loans to non-residents. At the same time, the growth rate of loan debt continues to decline in loans from borrowers in the construction industry, for the period under review -13.4% (-182 billion rubles), this was mainly due to the amortization of existing loans (Figure 3).

The dynamics of overdue debt was also influenced by the assignment to it of overdue loans since 2019 accounts receivable and overdue acquired rights of claim. By and large, these changes are purely technical in nature, so, in the period from January to September 2019. the volume of overdue debt on loans to non-financial organizations increased by 31.1%, and on loans to individuals - by 5.4% (on loans to individuals in September, the volume of overdue debt decreased by 2.0%). As of September 1, 2019, the share of overdue debt in the corporate portfolio is higher than at the beginning of the year (8.0 vs. 6.3%).

Figure 3. Dynamics of the volume of loan debt by industry since 01.10.2018 as of April 1, 2019, billion rubles, %

There were no significant changes in the quality of the corporate loan portfolio. The dynamics of the quality of the loan portfolio is still determined based on the analysis of the financial condition of individual large borrowers and the quality of banks' work with bad debts, including the sale of loans.

At the micro level, credit risk management is carried out by applying the diversification of the bank's loan portfolio, conducting client analysis, credit insurance, attracting sufficient and liquid collateral, etc.

Loan portfolio diversification is a way to minimize credit risk by dividing loans into different categories depending on the type of borrower, term of provision, type of collateral, credit instruments used, degree of risk, region, type of activity of the borrower.

Limiting is the establishment of a system of limits for each borrower, a group of borrowers, individual industries or sectors of the economy, specific types of financial products and for the loan portfolio as a whole.

Credit insurance is also used to reduce risks. Credit insurance is less beneficial for borrowers, since it involves the implementation of additional costs (premiums of the insurance company). One of the reliable ways to ensure the repayment of a loan is the use of collateral, surety, bank guarantees, insurance, assignment of claims.

Timely repayment of loan debt ensures the stability of the functioning of both an individual bank and the banking system as a whole.

To reduce the level of credit risk, credit institutions also assess the borrower's creditworthiness based on its financial position, prospects for further development, duration of business, etc. Each of the characteristics has its own system of indicators, on the basis of which the assessment will take place. The level of creditworthiness of the client allows you to determine the degree of risk associated with issuing a loan to a particular borrower. Banks need to maintain a reasonable balance between return and risk.

In the event of overdue collateral, banks form reserves for possible losses on loans. Reserves are formed in the liabilities of the bank at the expense of its own capital, in order to compensate for fully or partially impaired loans in the assets of the bank's balance sheet. Since fully impaired loans must be written off by the bank against the full amount of provisions, banks are reluctant to create provisions. Reserves reduce the size of the bank's own funds, if overdue loans occupy a significant share, the bank's position worsens. In this regard, banks are developing methods for dealing with overdue debts.

Independent work on debt collection is the most popular method used in practice, but it requires significant intangible investments in the organization of the procedure and material costs. Despite this, the method is considered the most effective. In practice, the bank needs to create a system for dealing with overdue debts, finance a system for automating the process, hire, and also maintain employees responsible for the implementation of the program. It is also necessary to provide legal costs and expenses for the recovery and sale of property.

Joint work on debt collection with collection agencies provides for the joint work of the bank and collection agencies. The implementation of joint work on debt collection with collection agencies includes two options for interaction: outsourcing and assignment.

Outsourcing refers to the transfer of overdue debt on loans to a collection agency for the purpose of managing it.

Assignment or assignment of rights of claim under obligations is the transfer of the rights of claim of a creditor to a collection agency.

According to the current legislation, the creditor has the right to assign the rights of claim for debt obligations, but subject to the absence of a written prohibition from the borrower. The effectiveness of this method depends entirely on the quality of the services provided by the collection agency. The provision of services takes place in accordance with the concluded agreement, on the basis of which the agency carries out work to collect debts on behalf of the bank. For the services rendered, the collection agency receives a commission. Its size depends on the list of services provided, for example, on the provision of judicial, post-judicial or out-of-court debt collection.

Minimization of credit risk is carried out thanks to organized work bank employees collecting the most complete and reliable information about the borrower, assessing the rationality and professionalism of analyzing the financial and economic activities of the borrower, selecting the most effective form repayment, monitoring of provided loan collateral, etc.

To obtain maximum profit, a credit institution needs to identify and assess risks in a timely manner, as well as take effective measures aimed at minimizing them. It is necessary to pursue a policy of risk diversification and prevent their concentration among a group of borrowers of the same type, since this can cause serious consequences in the event of loan default, as well as to improve the credit policy and control system of the credit institution.

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