Trends in the development of the banking system of the Russian Federation

Introduction. Recently, the actions of the Bank of Russia have been the subject of close attention of both the professional community and the general public. Against the background of public controversy over their validity and compliance with the strategic development goals of the Russian Federation, the author examines the current trends in the management of the domestic banking system and predicts the potential results of the development of these trends. Theoretical analysis. The study of the main banking operations – lending, attracting funds to deposits, opening and maintaining bank accounts – has been conducted from the point of view of government "interference" in these areas of financial activity. It has been established that in the Russian banking system, as well as in the field of related infrastructure, there is an active substitution of banking services provided by commercial credit organizations with similar financial services provided directly by the Central Bank and the Ministry of Finance of the Russian Federation (or legal entities controlled by them). Empirical analysis. The study of the regulatory actions taken by the legislator and the Bank of Russia, the analysis of law enforcement practices formed by the highest judicial authorities, as well as the dynamics of bank liquidity show that market competition without concomitant government management influence alone is not capable of improving the quality of banking services. Results. It is noted that commercial banking is gradually being squeezed out of the traditional spheres of its professional activity, which leads to an increasing "nationalization" of the banking system of the Russian Federation. The reasons for the emergence and development of the identified trends have been considered, as well as their subjective author’s assessment has been proposed.