Russian banking sector structure: yesterday, today, tomorrow

Abstract

This article analyzes the structure of the banking sector formation. Russia. The analysis of how and how a specific oligopoly structure influenced the formation of the modern structure of the banking sector. The reasons for which the economy in the period of crisis requires the identification of the share of markets that are in a state of silent collusion are shown. The features of the formation of banking systems in China and Russia, the transition to the sectoral principle of customer service by state banks. It is revealed that providing stability of the banking system of the country, the state thereby provides conditions of domination of large state banks and transition to sector service of economy. It is noted that with the tightening of regulatory requirements, there is a high risk of transition of small participants of the banking market to the «shadow» sector. At the beginning of 2018, the state's share in the banking sector reached over 70%. The foundations of the state process were laid eight years ago. Eight years ago, it was suggested that for the participants of the banking market as well, the comparative advantages of rent-seeking behavior are growing, and therefore during the crisis objectively increases the likelihood of adoption of new rules limiting competition. This assumption has been confirmed now. A comparison is made with the organization of the banking sector in China and it is noted that in an effort to ensure the socio-economic stability of the society in Russia, primarily through the stability of the banking system of the country, the state does not just provide conditions for the dominance of large banks and banking groups, but forms a virtually single-tier banking system. The risks of domination of state banks are listed and disclosed. As a result of the formation of a new structure of the banking sector of the country, competition between state-owned banks is tightened, which will acquire peculiar features of the struggle for the client and lead to nationalization in the form of horizontal integration of the business transition into the ownership of the Bank. The introduction of blockchain technology in the issue of bonds while using electronic money, which should be issued by the Central Bank of the Russian Federation will allow non-residents to purchase bonds bypassing sanctions and thereby minimizing their impact on the economy.