UDC: 336.71
https://doi.org/10.25198/2077-7175-2019-6-108
ON THE ISSUE OF EVALUATING THE EFFECTIVENESS OF SUPERVISION IN THE RUSSIAN FINANCIAL MARKET
I.V. Soldatenkova
State Institute of Economics, Finance, law and technology, Saint Petersburg, Russia
e-mail: inna_soldatenkova@mail.ru
Abstract. The modern challenges and realities of development of the domestic financial market are required the presence of a normatively-fixed method of evaluating the effectiveness of the measures and the tools which implemented by the mega-regulator in the course of the supervisory process over the activities of the financial intermediaries. Despite the obvious need, this issue has not yet been resolved at the legislative level and is not sufficiently covered in the works of domestic economists. In a number of foreign countries (for example, in the Netherlands), financial market regulators have long been assessing the effectiveness of financial regulation and supervision processes, and the Supervisory Intensity and Effictiveness Group under the Financial Stability Board is currently actively developing evaluating the effectiveness of the financial supervision and regulation. The purpose of this article is to develop criteria for evaluating the effectiveness of the supervisory process of the Bank of Russia and a methodology for evaluating their implementation. In the article the concept and key components of the effectiveness of supervision in the Russian financial market are discussed; the author's criteria for the effectiveness of the supervisory process of the Bank of Russia is developed and the matrix proposed by the author to assess their implementation is presented. Based on the application of this author's approach, the effectiveness of the modern supervisory process of the megaregulator on the financial market of Russia for the period from 2015 to 2017 has been evaluated. In the course of the study, methods of deduction, mathematical, statistical, logical, and expert analysis were used, which allowed us to obtain results that are verifiable in practice and to develop a set of proposals for improving the modern supervisory process of the Bank of Russia on the financial market.
Keywords: financial supervision, financial market, effectiveness, banking supervision, non-credits financial organizations, financial regulation, mega-regulator, Bank of Russia.
