THE BANKING SYSTEM OF CRIMEA AFTER JOINING THE RUSSIAN FEDERATION
Rationale The accession of the Crimean Peninsula to the Russian Federation have demanded decisive affords from the Russian governance in order to adapt the existing banking system of the Crimea to the Russian requirements. The solution of the problems in the banking sector is a key factor for the region to achieve stability. Objectives The main aim of this study was to analyze the banking system of the Crimea after affiliation the Russian Federation. In order to achieve this goal, the following tasks have been performed: characteristic of the banking system on the Crimean Peninsula at the time of being a part of Ukraine has been performed, the main subjects have been highlighted; the process of transition to the requirements of the subjects of the Russian banking and credit system has been specified; the economic prospects of the banking system of the Crimea have been estimated. Methods During the current research the scientific methods of anylysis and comparison have been employed. Results The result of this work is the large-scale research of the Crimean banking system, problems of its functioning have been identified in common with the introduction of the ways of their solving. Conclusions and Relevance It has been concluded that during the current economic sanctions regime against Russia the Crimea can successfully exist without the largest Russian banks. Providing the real support from the state and the fair establishment of reasonable legal basis can help the banking system of the peninsula of Crimea to achieve a leading position among all the subjects of the Russian Federation.