Economy Business Banks №10(36)





Roman P. Bulyga

Doctor of Economics, Professor, Head of the Department of Accounting, Analysis and Audit, Financial University under the Government of the Russian Federation, Moscow, Russia.


Irina V. Safonova

PhD in Economics, Associate Professor, Associate Professor of the Department of Accounting, Analysis and Audit, Financial University under the Government of the Russian Federation, Moscow, Russia.


The concept of information transparency of credit organizations


Subject/Topic Informational transparency of credit organizations and mechanisms of its support. The level of transparency in the banking sector largely determines the level of transparency in the other sectors of the economy and ultimately contributes to an increase in the investment attractiveness of the country. A lack of regulation in various aspects of the activities of credit organizations, which are to be disclosed according to the laws of the Russian Federation, a threshold level of information transparency of Russian credit organizations, low efficiency of the methodological control of the reliability of data provided and published by credit organizations, – all this requires the development of a holistic concept of information transparency of credit organizations for interested users.

Goals/Objectives The aim of this study is to develop a concept of information transparency of credit organizations. For this purpose, it is necessary to determine the system of the conceptual apparatus, the principles, goals and objectives of information transparency of the activities of credit organizations, as well as the requirements for the main elements of its support.

Methodology The research methodology is an empirical methodology, based on the application of general scientific research methods: analysis and synthesis, induction and deduction, abstraction and concretization. Special methods were applied for comparative analysis of legislation, abstracting estimates of rating agencies, testing the effectiveness of IT products and software.

Conclusions and Relevance A holistic concept of information transparency of the activities of credit organizations has been formed, aimed at increasing the stability and investment attractiveness of the country’s banking system. As a part of the development of the concept, the notions related to the processes under consideration (“information transparency”, “activity”) and objects (“credit organization”, “interested users of information”) were clarified. The basic principles, purpose and objectives of increasing the information transparency of the activities of credit organizations are formulated. Requirements for mechanisms for increasing information transparency, accounting and analytical tools, a system for monitoring the reliability of data generated and published by credit organizations, staffing services of credit organizations providing informational transparency of their activities are defined.

Keywords: information disclosure, information transparency, transparency, credit organizations, banking operations, information technology, XBRL


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Oxana N. Afanasyeva

Candidate of Economic Sciences, Associate Professor of the Department of Financial Markets and Banks, Financial University under the Government of the Russian Federation, Moscow.


The influence of the key rate of the Bank of Russia on inflation


Subject/Topic The article is devoted to the study of the role of the Bank of Russia refinancing as an instrument of monetary policy with an aim of influencing economic indicators. The author examines the influence of the Bank of Russia key rate on inflation indicators such as the consumer price index, GDP deflator, and producer price index.

Goals/Objectives Using various instruments of monetary policy, the Bank of Russia is affecting the country’s economy. One of such tools is the key rate, which is the rate on the Bank of Russia loans to commercial banks. It is established by the Board of Directors of the Bank of Russia and at the moment is the most important tool for regulating the economy. The rates on loans established by the banks affect business activity in the country, which in turn affects the state of the economy as a whole. Therefore, today it is especially important to understand how effective the Bank of Russia policy is and whether it really has a significant impact on the country’s economy, including inflation.

Methodology When writing the work, general and special research methods, analysis based on graphing, synthesis, and generalization were used.

Conclusions and Relevance The dependencies between the Bank of Russia monetary policy instruments such as refinancing, and the consumer price index, gross domestic product deflator, producer price index were identified, the type of these dependencies was determined, and the time lags of the instrument’s impact on inflation indicators were analyzed.

Keywords: Central Bank of Russia (CBR), key rate, inflation, consumer price index, GDP deflator, producer price index, monetary policy instruments, non-monetary factors affecting inflation, the clipping effect, targeting of inflation.


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Irina А. Ryzhova

applicant for a Degree of Candidate of Economic Sciences, the Department of Economic theory, Financial University under the Government of the Russian Federation.

E -mail:

Institutional bases of minimizing risks in the banking sphere


Subject/Topic At the beginning of the last century, banking risk issues ceased to be a priority only of national importance. Crisis phenomena have shown the complete interdependence of the economies of different countries and revealed the need for the introduction of banking sector stability indicators. Therefore, it became important to carry out risk management not only within the credit institution itself, but also at the level of both national banking system and internationally. It becomes obvious that it is necessary to identify specific risks that are inherent in the banking sector, as well as to develop modern ways to minimize internal risks, especially for a credit institution.

Goal/Objectives The aim of the study is to identify the specific risks for the banking sector of each country based on the international and domestic experience, as well as to develop recommendations to minimize risks for credit institutions.

Methodology In the work were used general and special research method, in particular, analysis, synthesis, generalization, comparison, induction and deduction, scientific abstraction. The assurance of risk safety should be effected at the three levels: at the international level, at the state level and at the level of credit organizations. The main methods for minimizing the consequences of the modern banking risks were presented.

Conclusion and Relevance In the course of the work, the main banking risks were identified.

Keyword: banking; banking risks; minimization of bank risks; banks; credit organizations.


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Olga S. Vinogradova

Master of Economics, Economic Faculty, Head teacher of the Department of Finance and credit, Lomonosov Moscow State University, Moscow.


Evolution of the concepts of financial risk management in commercial banks


Subject/ Topic Effective financial management plays a significant role in improving risk tolerance of commercial banks. With time financial risk management concepts became more complex. In the process of complication of financial systems of different countries, the new types of risks and penetration channels were generated, and the degree of their impact changed. The influence of these new risks on the performance indicators of the particular credit institution has forced the researchers to develop new methods and tools that could be applied for maintaining the acceptable level of risks. The problems of financial risks management in commercial banks have received special attention in the context of the global financial crisis.

Goals/Objectives This work analyzes the classifications of financial risks of commercial banks and classifies the methods of financial risk management in Russia.

Methodology This research was carried out by the means of general scientific methods of research, methods of comparison and scientific generalization, graphical representation of the received results.

Conclusions and Relevance Initially financial risk management involved only procedures for becoming aware of risks and the methods of risk analysis. Later the attention was switched to the assessment of their impact and relevant responding to this impact. Currently all the main concepts involve choices of the options: how much risk to take and how to manage these risks most effectively. The modern approach is to see the financial function of banks as the active policy in changing conditions, directly involving it in the subsequent decisions. Consequently, the modern concept of financial risk management is based on the preventive risk management methods.

Keywords: financial risk management, commercial bank, banking risks, methods of risk management, the evolution of financial risk management methods.


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Svetlana M. Doguchaeva

Candidate of physical and mathematical Sciences, Associate professor, Financial University under the Government of the Russian Federation, Moscow.


Analysis of the deployment of digital economy solutions based on IT research


Subject / Topic The possibilities of using cloud services and Artificial Intelligence in the innovative processes of the digital economy. Transparency is an essential element to meet digital requirements that concern ethics and privacy.

Goals / Objectives To consider deploying and operating Cloud Data Warehousing, using Machine Learning, and the Internet of Things. Such opportunities enable companies to cope with several business tasks at the same time.

Methodology The work shows the most popular approaches of Machine Learning, Artificial Intelligence and Cloud technologies, which, in turn, enable deep learning to become a technology that changes the world.

Conclusions and Relevance The relevance of the study is connected with the fact that the Internet of Things, Artificial Intelligence and e-commerce, using Big Data and Machine Learning, opening new ways of exchanging information, selling goods and providing services, have become the main foundations in modern digital economic transformation.

Keywords: innovation, machine learning, digital economy, internet of things, artificial intelligence, cloud solutions, information technology, big data, data mining, neural networks.


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Alexander S. Rodionov

PhD in Technical Sciences, Professor, Academician of the International Academy of Informatization, Professor of the Department of Risk Analysis and Economic Security, Director of Scientific and Information Consulting of safe life and work, Financial University under the Government of the Russian Federation, Moscow. President of Graduate School MВА «IntegraL» (Corporate University).


Lyudmila M. Kupriyanova

Candidate of Economic sciences, Associate Professor of the Department of Accounting, analysis and audit, Deputy Head of the Chair of Economics of intellectual property, Financial University under the Government of the Russian Federation, Moscow.


Effective administration of risk management in real time formation of Russian digital economy


Subject / Topic T  he article discusses the problematic issues of effective administration of risk management for real-time formation of the digital economy of Russia. The relevance of the topic is connected with the dualism of the technocratic and anthropocentric approach when moving into the digital economy zone. The prevalence of the technical component over humanism, the primacy of maximizing profits over humanity, is becoming the subject of risk management. The deepening of the emerging trend turns scientific and technological progress into a driver of impoverishment and depopulation.

Goals / Objectives To outline the author’s paradigm of overcoming the bifurcation point and the singularity zone in the transition to the digital economy with minimal losses of intellectual and labor resources. To draw attention to the fact that a dress rehearsal of the transition to the digital economy was already held in the USSR in the mid-60s as a mass introduction of automated control systems (ACS) and the creation of the State Automated Network (OGAS). To recall that, according to the students of the “father of Soviet cybernetics” academician V.M. Glushkov, OGAS could save the USSR from collapse. The collapse of the USSR did not remove the relevance of the problem, on the contrary, it made it even more relevant now for Russia, in the transition to a digital economy

Methodology The methods of divergent and convergent thinking, analysis and synthesis, induction and deduction, method of comparison and analogy, phenomenological approach to GAP-analysis of development trends in real time.

Conclusions and Relevance The author’s paradigm of effective risk management administration in the conditions of a turbulent transition of the global economy to the digitalization zone is proposed. The importance of taking into account the humanitarian component of scientific and technological progress is shown, as an option according to the Rodionov Pentahedron model. The rationale for the need to change security systems when changing technological structures is given. It is noted that with the advent of new drivers of the economy and dangers (means of competition for resources, threats, fears), a need arises for an urgent paradigm of integrated life safety and its implementation in a specific national security system.

Keywords:  risk management, digital economy, life safety, national priorities.


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Directive 2009/138 / EC of the European Parliament and of the Council of November 25, 2009 on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) [Electronic resource]. URL: (date of access 01.09.2019)

Rodionov (2019) – Rodionov A.S. Investments in safe life: preservation, level, lifestyle, quality. //Economy. Business. Banks 2019, No. 3 (29). p.54-66

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Aidar N. Ismagilov

Bachelor of Economics, Faculty of Financial markets and banks, Financial University under the Government of the Russian Federation, Moscow (E-mail:

Key problems of derivatives market development in Russia


Subject/Topic Russian derivatives market.

Goals/Objectives Definition of key problems of development of the derivatives market in Russia and ways of their overcoming.

Methodology In the work were used such methods as analysis and synthesis, classification, generalization, comparison, and graphical method.

Results The author characterizes the Russian market of derivative financial instruments. The key problems of the development of the derivatives market in Russia are highlighted: the concentration of all liquidity in the short term, the lack of forecasting and hedging functions, the imperfection of the regulatory framework, as well as the risks of the national economy. The measures to overcome the identified problems are proposed.

Conclusion and Relevance The article describes the Russian derivatives market. The main problems that hinder the development of the derivatives market are highlighted, and measures to improve this market are proposed.

Keywords: derivatives market, hedging, risks of the national economy, imperfection of the regulatory framework, development prospects.


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Popova (2017) – Popova S.B. Problems and peculiarities of Russian derivatives market infrastructure development [Problems i osobennosti razvitiya infrastruktury srochnogo rynka Rossii], Some Issues and Problems of Economics and Management [O nekotoryx voprosax i problemax ekonomiki i menedzhmenta], 2017. P. 304. [in Russian]

Anishchenko, Panteleeva (2018) – Anishchenko K.L., Panteleeva T. A. Problems and prospects of the Russian derivatives market [Problemy i perspektivy rossijskogo rynka proizvodnyx finansovyx instrumentov], Bulletin of the Institute of world civilizations [Vestnik instituta mirovy`x civilizacij], 2018. P. 8-11. [in Russian]

Prudnikova (2018) – Prudnikova A.A. Development of the market of derivative financial instruments and problems of its regulation [Razvitie rynka proizvodnyx finansovyx instrumentov i problemy ego regulirovaniya], Finance, money circulation and credit [Finansy, denezhnoe obrashhenie i kredit], 2018. P. 63-69. [in Russian]

Kotova, Ershova, Yeshanu (2017) – Kotova O.V., Ershova K. A., Yeshanu Y. V. The market of derivative financial instruments today and its role in the development of modern economic system [Rynok proizvodnyx finansovyx instrumentov segodnya i ego rol` v razvitii sovremennoj ekonomicheskoj sisteme], Innovation economy: prospects for development and improvement [Innovacionnaya ekonomika: perspektivy razvitiya i sovershenstvovaniya], 2017. P. 90-96. [in Russian]


Mohamad Almughrabi

Postgraduate student of the Department of Logistics and marketing, Financial University under the Government of the Russian Federation. Moscow.


Application of innovative marketing technologies in the brand management of banks


Subject/ Topic During the transformation of Russian economy into digital form, the relevance of applying innovative communication technologies in the sectors of economy, the assessment of their effectiveness and optimization of their application in different sectors has increased. At this stage, competition in the banking sector forces banks to use innovative methods that are more effective in the interaction with their customers. Social networks are considered as a revolution in the theory of marketing communication, and penetration of these networks among the Russian Audience provides banks with more convenient platform to interact with customers in real time. The issue of using social networks, assessment of their effectiveness and the prospect of their applications in brand management of Russian banks is the subject of this article.

Goals/Objectives The purpose of this work is to apply innovative marketing technologies in the brand management of banks at different levels, including in social networks.

Methodology The article considers the theoretical and methodological directions of development of marketing tools in social networks, the parameters of assessing their effectiveness, and analyses their application in the Russian banking system’s brand management.

Conclusions and Relevance The article analyses the application of marketing technologies in brand management of Russian banks and provides a holistic approach to the brand management of banks with application of innovative marketing tools in social media.

Keywords: brand management, innovative marketing, social media marketing (MSS), Russian retail banks, strategic marketing


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Anna A. Andreeva

3rd year student, Department of International economic relations, IE-3-8, Financial University under the Government of the Russian Federation, Leningradsky Prospect, 49, Moscow, 125993, Russia. E-mail:

The role of Digital customer in modern conditions


Subject/Topic The modern digital world generates new industries and moreover new customers. Each of us is now somehow a digital customer. The influence of digital customer on the work of marketers in modern companies is enormous. Due to the creation of a new model of behavior of digital customer the marketers have been able to analyze the impact of these customers on the business and further development of the values of digital customer on the company’s activities.

Goals/Objectives The purpose of this work is to identify theoretical and practical changes of the company’s work in the field of marketing in connection with the emergence of digital customer. To achieve this goal, the following tasks should be solved: to form the main characteristics of digital customer; to analyze the model of digital customer’s behavior with theoretical and practical aspects; to identify the main aspects of changes in marketing strategy of companies in the future connected with digital customer.

Methodology Implementation of the objectives is carried out through the study of domestic and foreign literature on the topic.

Conclusions and Relevance The author’s operating objectives have led to in-depth analysis of digital customer, the model of behavior of this customer and the impact of this behavior on the marketing strategy of the company in the future. Additionally, this analysis has led to a logical conclusion based on the research.

Keywords: digital customer, marketing, “moment of truth” model, customer decision making system, business improvement.


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Karina V. Velikaya

4th year Student of the Faculty of sociology and politilogy, Financial University under the Government of the Russian Federation” Moscow.

Public domain: legal regulation and some problems of transition


The article is devoted to the study of the term “public domain”, legal regulation and problems arising in the transition of the work to the public domain. The modern concepts of intellectual property rights in Russian and international legislation are studied, as the share of intellectual capital in the modern world is incredibly high. It makes it necessary to analyze the approaches to the legal regime of exclusive intellectual property rights protection, as well as to consider some problems of stimulating the development of modern legislation in the field of intellectual property. The article analyzes the legal instruments of regulation of public domain, such as Unilecense and Creative Commons. The sphere of intellectual property, protection of intellectual rights to the results of intellectual activity and means of individualization of goods, works and services of the legal entities did not stand aside.

Subject/Topic The problems of transition to the public domain; the main characteristics of the category “public domain”.

Goals/Objectives To consider the features of the legal regulation of the transfer of works to the public domain. To analyze the content of the legal category “public domain”.

Methodology The theory of state and law.

Conclusions and Relevance The process of transferring into the public domain forms problematic and incompletely studied field of national legislation. The legal regulation of works in the public domain is quite narrow. The range of these opportunities can only be expanded by referring to the tools such as Creative Commons, Unilicense and others.

Keywords: public domain, exclusive right, authorship, legal order, intellectual property


Samuelson P. (2003) – Digital Information. Digital Networks and the Public Domain. Law and Contemporary Problems, no 66, pp. 80

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Azamat A. Ibragimov

MBA student, Financial University under the Government of the Russian Federation, Moscow.



Exclusive right in brandy production and its influence on basic financial indicators


Subject/Topic The work is aimed at studying the main features and problems associated with the accounting and evaluation of exclusive intellectual property rights, as well as analyzing their impact on the main financial indicators of enterprise and identifying their interconnection on the example of JSC ” Kizlyar brandy factory”.

Goals/Objectives To determine the features of accounting and evaluation of exclusive rights and their impact on the financial result of enterprise, as well as to identify the main problems associated with the accounting and registration of rights to such type of intellectual property as a trademark.

Methodology In the course of the research, the following mixed methods of analysis were applied: theoretical analysis, structural analysis, as well as a review of historical and scientific literature.

Conclusions and Relevance In the course of the study, the main features and problems of accounting for trademarks, the direct connection between financial results and the value of exclusive rights was revealed on the example of JSC “Kizlyar brandy factory”, confirmed by the data of annual financial statements and calculations with implementation of different methods of analysis.

Keywords: exclusive rights to trademark, evaluation, Kizlyar brandy factory, winemaking, viticulture, intangible assets


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Golysheva, Dasaeva (2017) – Golysheva N., Dasaeva N. D. Problems of accounting for patents for selection achievements. [Problemy ucheta patentov na selektsionnye dostizheniya] // Economy. Business. Banks [Ekonomika. Biznes. Banki ] -2017. No. 4 (21) Pp. 74-80.

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