TRENDS IN THE DEVELOPMENT OF THE SYSTEM OF REFINANCING OF THE CENTRAL BANK OF THE RUSSIAN FEDERATION (BANK OF RUSSIA)
This article addressed questions about trends in the si system of refinancing of credit institutions in the Russian Federation. In order to ensure an integrated approach to the regulation of Bank liquidity and stability of the banking sector the Bank of Russia, being the lender of last resort for credit institutions, organizes refinance system. It is well known that the development of the system of refinancing of credit institutions is closely connected with the country’s monetary policy. Prospects of development of the modern Russian economy associated with the need to enhance the role of monetary policy in order to ensure sustainable economic growth. The significance of the tool refinancing of credit institutions for the economy as a whole due to the ability of the liquidity regulation at the macro and micro levels in accordance with the objectives of monetary policy. The refinancing of the Russian Federation is actively developing, expanding the range and volume of refinancing operations, honed the tools of analysis of financial condition of banks. At the same time the history of the development of the Russian banking system clearly demonstrates the fact that in a crisis situation, the existing system of refinancing of credit institutions are not always able to deliver the expected performance.