Актуальность выбранной темы. Для современной банковской системы Российской Федерации характерен переход на качественно новый этап развития, обусловленный возрастающей конкуренцией кредитных организаций и необходимостью сохранения или усиления рыночных позиций, что затрагивает все без исключения сферы деятельности банков. Количественное увеличение объемов осуществляемых операций и повышение рентабельности банковской деятельности требуют от кредитных организаций повышения качества управления депозитными ресурсами и пересмотра подходов, положенных в основу формирования депозитной политики, которая должна учитывать новые экономические условия и потребности субъектов экономики, соответствовать общей стратегии развития банка. В последние годы специалисты банковского дела отмечают возрастающее влияние депозитной политики коммерческих банков на развитие их деятельности. Вместе с тем недостаточная разработанность теоретических основ формирования, проблем практической реализации и методов оценки депозитной политики ослабляет ее воздействие на улучшение количественных и качественных показателей функционирования коммерческих банков и банковской системы в целом. В этих условиях особую актуальность приобретает комплексная разработка теоретических и практических вопросов, раскрывающих все аспекты депозитной политики коммерческого банка. За последние годы позитивные тенденции в развитии российского банковского сектора усилились. Вместе с тем растет значимость банковского сектора для экономики страны, повышается доверие к банкам вкладчиков. Однако динамичное развитие банковского сектора сопровождается накоплением рисков, что безусловно снижает эффективность функционирования коммерческих банков. Проблема исследования. Основная проблема повышения эффективности функционирования коммерческого банка сводится к управлению его активами и пассивами, т.е. формированию, прежде всего, оптимального соотношения между видами вкладов и видами размещения денежных средств, поскольку в основе операционной деятельности лежит реализация финансовых операций по привлечению депозитов и выдачи кредитов. Все виды депозитных и кредитных операций следует рассматривать как основную часть банковского портфеля. Управление депозитным и кредитным портфелем предполагает аналитический анализ его состава, объема, доходности, рискованности, прогнозов и количественной оценки движения денежных средств, определяющих депозитную и кредитную политику коммерческого банка. Состояние изученности проблемы. В зарубежной и отечественной научной литературе уделяется большое внимание проблемам формирования, управления и оптимизации портфельной политики. При этом большое количество исследований посвящено проблемам формирования финансовых портфелей, а также оценке эффективности портфельных инвестиций. В последнее время появились исследования отечественных ученых в области управления структурой депозитного и кредитного портфелей, авторами которых являются: П.Бочаров, А.Бухвалов, С.Гончаров, И.Грачев, Н.Егорова, С.Жуленев, В.Иванов, В.Казейкин, В.Капитоненко, Ю.Касимов, О.Касимова, И.Киселева, Т.Ковалева, Ю.Коробов, А.Кочетыгов, В.Кутуков, О. Лаврушин, Я.Мелкумов, А.Мицкевич, В.Селюков, А.Семеняка, В.Симчера, А.Смулов, А.Туманов, С.Хачатрян, Е.Четыркин, А.Черняк и другие. Вместе с тем, до настоящего времени не получила должного решения такая проблема, как разработка действенного методического инструмента оптимизации портфельной политики коммерческих банков при реализации депозитно-кредитных операций в условиях изменения конъюнктуры финансового рынка. Отмеченные проблемы методического и практического характера обусловили актуальность выбранного направления исследования и определили постановку цели и задач диссертационной работы. Цель работы – проанализировать основы формирования депозитной политики и выявить проблемы управления депозитным портфелем коммерческого банка. Для реализации поставленной цели поставлены и реализованы следующие задачи: рассмотреть содержание и направления финансовой политики банка; изучить основы управления депозитным портфелем; выделить критерии качества депозитного портфеля; рассмотреть экономическую характеристика банка; проанализировать депозитный портфель банка; выделить проблемы управления депозитным портфелем банка; разработать методы повышение ликвидности и платежеспособности банка; предложить методы совершенствования депозитной политики ПАО «Сбербанк России»; определить перспективы развития новых активных операций ПАО «Сбербанк России». Предмет исследования — экономические и организационные отношения, складывающиеся в процессе формирования, реализации и оценки депозитной политики коммерческого банка. Объект исследования — показатели деятельности ПАО «Сбербанк России»; Теоретической и методологической основой стали труды ведущих отечественных и зарубежных специалистов, раскрывающие закономерность развития рыночной экономики, основы организации и управления деятельностью коммерческого банка, экономические и организационные аспекты формирования банковской политики. В своем исследовании делался опор на теоретические разработки ряда видных ученых в области банковского дела: А. Бабичевой, Г. Н. Белоглазовой, Э. Н. Василишена, Е. П. Жарковской, Е. Ф. Жукова, Л. П. Кроливецкой, В. И. Колесникова, Г. Г. Коробовой, О. И. Лаврушина, Г. С. Пановой, А. М. Тавасиева, К. Р. Тагирбекова. В основе работы лежат следующие методы – анализ, классификация, сравнение, обобщение, а также экономико-математические и экономико-статистические методы. Теоретическая и практическая значимость. Теоретические результаты имеют существенное значение в части создания новых методик, а также внутренних инструкция банка для принятия управленческих решений при управлении операционной деятельностью банка. Практическая ценность работы заключается в том, что ее результаты имеют вид практических рекомендаций при формировании и управлении депозитно-кредитных портфелей коммерческого банка. Структура работы. Работа состоит из введения, трех глав, заключения и списка использованной литературы. / Relevance of the chosen topic. The modern banking system of the Russian Federation is characterized by a transition to a qualitatively new stage of development, due to the increasing competition of credit institutions and the need to maintain or strengthen market positions, which affects all spheres of banking activity without exception. A quantitative increase in the volume of transactions performed and an increase in the profitability of banking activities require credit institutions to improve the quality of management of deposit resources and revise the approaches underlying the formation of a deposit policy, which should take into account new economic conditions and the needs of economic entities, and comply with the general development strategy of the bank. In recent years, banking experts have noted the increasing influence of the deposit policy of commercial banks on the development of their activities. At the same time, insufficient development of the theoretical foundations of formation, problems of practical implementation and methods for assessing deposit policy weakens its impact on improving the quantitative and qualitative indicators of the functioning of commercial banks and the banking system as a whole. In these conditions, the complex development of theoretical and practical issues that reveal all aspects of the deposit policy of a commercial bank acquires special relevance. In recent years, positive trends in the development of the Russian banking sector have intensified. At the same time, the importance of the banking sector for the country's economy is growing, and confidence in the banks of depositors is increasing. However, the dynamic development of the banking sector is accompanied by the accumulation of risks, which certainly reduces the efficiency of the functioning of commercial banks. Research problem. The main problem of increasing the efficiency of a commercial bank is reduced to managing its assets and liabilities, i.e. the formation, first of all, of the optimal ratio between the types of deposits and the types of placement of funds, since the basis of operating activities is the implementation of financial operations to attract deposits and issue loans. All types of deposit and lending operations should be considered as the bulk of the banking portfolio. Deposit and loan portfolio management involves an analytical analysis of its composition, volume, profitability, riskiness, forecasts and quantitative assessment of cash flows that determine the deposit and credit policy of a commercial bank. The state of knowledge of the problem. In foreign and domestic scientific literature, much attention is paid to the problems of formation, management and optimization of portfolio policy. At the same time, a large number of studies are devoted to the problems of forming financial portfolios, as well as assessing the effectiveness of portfolio investments. Recently, studies of domestic scientists have appeared in the field of managing the structure of deposit and loan portfolios, the authors of which are: P. Bocharov, A. Bukhvalov, S. Goncharov, I. Grachev, N. Egorova, S. Zhulenev, V. Ivanov, V. Kazeykin, V. Kapitonenko, Y. Kasimov, O. Kasimova, I. Kiseleva, T. Kovaleva, Y. Korobov, A. Kochetygov, V. Kutukov, O. Lavrushin, Y. Melkumov, A. Mitskevich, V. Selyukov, A. Semenyak, V. Simchera, A. Smulov, A. Tumanov, S. Khachatryan, E. Chetyrkin, A. Chernyak and others. At the same time, to date, such a problem as the development of an effective methodological tool for optimizing the portfolio policy of commercial banks in the implementation of deposit and credit operations in the context of changing financial market conditions has not received a proper solution. The noted problems of a methodological and practical nature determined the relevance of the chosen direction of research and determined the setting of the goal and objectives of the dissertation work. The purpose of the work is to analyze the foundations of the formation of a deposit policy and identify the problems of managing the deposit portfolio of a commercial bank. To achieve this goal, the following tasks have been set and implemented: consider the content and directions of the bank's financial policy; to study the basics of deposit portfolio management; highlight the criteria for the quality of the deposit portfolio; consider the economic characteristics of the bank; analyze the bank's deposit portfolio; highlight the problems of managing the bank's deposit portfolio; develop methods to increase the liquidity and solvency of the bank; propose methods for improving the deposit policy of Sberbank of Russia; to determine the prospects for the development of new active operations of Sberbank of Russia. The subject of the research is the economic and organizational relations that develop in the process of formation, implementation and assessment of the deposit policy of a commercial bank. The object of the research is the performance indicators of Sberbank of Russia; The theoretical and methodological basis was the works of leading domestic and foreign experts, revealing the pattern of development of a market economy, the foundations of organizing and managing the activities of a commercial bank, economic and organizational aspects of the formation of banking policy. His research relied on the theoretical developments of a number of prominent scientists in the field of banking: A. Babicheva, G. N. Beloglazova, E. N. Vasilishena, E. P. Zharkovskaya, E. F. Zhukov, L. P. Krolivetskaya, V.I. Kolesnikova, G.G. Korobova, O. I. Lavrushina, G. S. Panova, A. M. Tavasieva, K. R. Tagirbekova. The work is based on the following methods - analysis, classification, comparison, generalization, as well as economic-mathematical and economic-statistical methods. Theoretical and practical significance. Theoretical results are essential in terms of creating new methods, as well as internal instructions of the bank for making managerial decisions in managing the bank's operating activities. The practical value of the work lies in the fact that its results have the form of practical recommendations in the formation and management of deposit and credit portfolios of a commercial bank. Work structure. The work consists of an introduction, three chapters, a conclusion and a bibliography.

This dissertation presents a liquidity stress-testing model for evaluating liquidity and systemic risk in banks from developed and emerging economies respectively. The model further relies on simulations to generate liquidity buffer losses for both a non-crisis and crisis period as well. The emerging economy is represented by South Africa (SA) and the developed economy by the United Kingdom (henceforth UK). The Liquidity Stress Tester model (LST) has been successfully applied to both the Dutch and UK markets in previous research. The model's flexibility and adaptability allows it to assess different banking systems and different reactions (buffer restoration and leverage targeting) of participants within these milieus. The LST considers feedback effects arising from bank reactions and allows for the assessment of severely stressed haircuts and systemic risk increases caused by reputation degradation and increased contagion from other banks. Losses stemming from the second round effects of a liquidity event are explored through the reactions conducted by banks in the banking system. The study conducts a review of liquidity risk models utilised in previous research. Characteristics of these models and the data they used are highlighted, shedding light on the advantages and shortcomings of these models. Possible restrictions in liquidity risk management are also explored. The study discusses the relevance of the South African/UK economies' comparison, as well as the selected periods chosen for investigation. To assist further research with the LST, the study illustrates and discusses how it is modelled and developed in Microsoft Office Excel. The results obtained illustrate the potential severity of second round feedback effects of a liquidity event on liquidity positions in banks. The effects of mitigating actions conducted by banking institutions reacting to initial liquidity stress shocks are explored, as well as the way these actions could potentially affect second round effects on banks. The analysis and discussion of simulated results attempts to isolate and identify characteristics of economies and periods used that may have contributed to specific liquidity events. The study concludes with a summary of the research and suggestions for possible future work and development using the LST. / MCom (Risk Management), North-West University, Potchefstroom Campus, 2013

This dissertation presents a liquidity stress-testing model for evaluating liquidity and systemic risk in banks from developed and emerging economies respectively. The model further relies on simulations to generate liquidity buffer losses for both a non-crisis and crisis period as well. The emerging economy is represented by South Africa (SA) and the developed economy by the United Kingdom (henceforth UK). The Liquidity Stress Tester model (LST) has been successfully applied to both the Dutch and UK markets in previous research. The model's flexibility and adaptability allows it to assess different banking systems and different reactions (buffer restoration and leverage targeting) of participants within these milieus. The LST considers feedback effects arising from bank reactions and allows for the assessment of severely stressed haircuts and systemic risk increases caused by reputation degradation and increased contagion from other banks. Losses stemming from the second round effects of a liquidity event are explored through the reactions conducted by banks in the banking system. The study conducts a review of liquidity risk models utilised in previous research. Characteristics of these models and the data they used are highlighted, shedding light on the advantages and shortcomings of these models. Possible restrictions in liquidity risk management are also explored. The study discusses the relevance of the South African/UK economies' comparison, as well as the selected periods chosen for investigation. To assist further research with the LST, the study illustrates and discusses how it is modelled and developed in Microsoft Office Excel. The results obtained illustrate the potential severity of second round feedback effects of a liquidity event on liquidity positions in banks. The effects of mitigating actions conducted by banking institutions reacting to initial liquidity stress shocks are explored, as well as the way these actions could potentially affect second round effects on banks. The analysis and discussion of simulated results attempts to isolate and identify characteristics of economies and periods used that may have contributed to specific liquidity events. The study concludes with a summary of the research and suggestions for possible future work and development using the LST. / MCom (Risk Management), North-West University, Potchefstroom Campus, 2013

This thesis deals with stress testing as a process that helps to assess the impact of potential adverse shocks on the soundness of a financial system. First section is dedicated to non-technical discussion about stress testing and to some methodological issues. The main focus lies on the system-wide macroeconomic stress testing. The empirical part of the thesis is a contribution to macroprudential analysis of the quality of the aggregate loan portfolio in the Czech Republic. This study adopts a vector autoregression model applied to the Czech banking sector in order to judge its stability and present some evidence on macroeconomic variables affecting the Czech banking system. As a measure of the strength of the loan portfolio is used the stock of non-performing loans vis-à-vis total loans in the sector. The thesis follows the widely used methodology and seeks to identify significant macroeconomic risk factors affecting the loan portfolio quality. The latter part aims also to forecast the most likely development of the loan portfolio.

The thesis studies the determinants of trust in the European Central Bank by employing various indicators. The main objective has been to assess the most significant determinants of trust and to study the impact of the Great Crisis on trust in the European Central Bank. First, the socio-demographic and macroeconomic variables have been studied as the predictors and socio-demographic ones have been confirmed to be more significant. We have also extended the regressions by two new variables: monetary policy transparency index and financial stability transparency index. Whereas the monetary policy transparency index has not been significantly correlated with trust, it has been proved that the financial stability transparency index has positive impact on the trust in the European Central Bank. Secondly, we have employed the bias-reduced linearization procedure for computation of the standard errors in order to account for clustering and serial correlation problems. After comparison with the robust standard errors, we have concluded that the robust standard errors are not able to completely deal with the clusters and serial correlation in data. Thirdly, it has been proved that the trust in the European Central Bank decreases during the crisis occurrence.

Title: The Czech National Bank, its legal status and scope of activities Abstract The aim of this thesis is to analyze the current status of legislation of the Czech National Bank, its content operations and powers with regard to the historical development of this institution, focusing on the banknotes and coins, monetary policy, financial stability, financial market supervision and possible impacts of euro adoption in the Czech Republic. The first part of the thesis will be devoted to the historical development and fundamental characteristics of the Czech National Bank as the central bank and its organizational structure, management and independence will be determined as well as the objectives pursued. The following chapters will deal with particular areas of activities which the Czech National Bank practices in accordance to its primary objective. More detailed focus in the thesis is on the emission function, the conduct of monetary policy and its instruments, analysis of financial stability and supervision of individual financial market segments. The last part of the thesis will be devoted to the issue of adopting the common European currency in the Czech Republic and to the changes which would be connected to that currency adoption. Keywords Czech national bank, central banking, monetary policy,...

Zusammenfassung: Diese Arbeit liefert eine institutionenökonomische Sicht auf den chinesischen Bankensektor des Jahres 2005. Im theoretischen Teil werden etablierte makroprudentielle Indikatoren zur Prüfung der Bankenstabilität in einen Rahmen aus informellen und formalen marktregulierenden und marktstabilisierenden Institutionen integriert. Die sich anschließende positive institutionelle Analyse zielt auf die Identifizierung von Risiken für die Stabilität des chinesischen Bankensektors ab, welche sich aus diesem institutionellen Gefüge ergeben. Abstract / Abstract: This paper gives an institutional perspective on the Chinese banking sector at the end of 2005. For the theoretical part, this paper uses established macroprudential indicators for banking sector stability and integrates these into a set of formal and informal market-regulating and market-stabilising institutions. The following positive institutional analysis aims at identifying risks for the stability of the Chinese banking sector emanating from this institutional framework.

Till följd av det senaste decenniets företagsskandaler och kriser har diskussionen kring revisorns oberoende eskalerat. I och med finanskrisen 2008/09 har det påvisats att ett antal bolag ej erhållit oberoende granskning varför revisorns agerande har ifrågasatts. Eftersom det är av stor vikt att revisorn agerar objektivt och självständigt med avseende på tillförlitligheten till reviderad information diskuteras obligatorisk byrårotation som ett verktyg för att säkerställa revisorns oberoende. Syftet med studien är att undersöka hur obligatorisk byrårotation påverkar revisorns oberoende och vilka konsekvenser ett eventuellt införande av en dylik regel skulle innebära. Vidare behandlas byrårotations inverkan på den finansiella stabiliteten. Studien baseras på kvalitativ metod för att möjliggöra en djupgående förståelse för utvalda parters åsikter och synpunkter på en eventuell lagförändring. Intervjuer har genomförts med personer med stor inblick i revisionsbranschen. Studien visar att obligatorisk byrårotation skulle ha positiv inverkan på revisorns oberoende. Det följer av att byrårotation tros förhindra revisionsteamet att bli alltför bekant med revisionsklienten samt att revisorn anses mer oberoende då möjligheten till långvariga byråuppdrag är begränsad. Ett införande av byrårotation skulle medföra förbättrad revisionskvalitet trots påvisad kvalitetsnedgång i början på varje nytt revisionsuppdrag samt ökad revisionskostnad. Revisorns oberoende har betydelse för den finansiella stabiliteten men obligatorisk byrårotation skulle endast marginellt mildra eventuella framtida finansiella kriser.

Asian efforts towards bond market development are driven by the 1997-98 financial crises; Central and Eastern European efforts by the transition towards EMU. The small size of most of the economies underlying these still "emerging" bond markets poses the question of minimum efficient scale and which options to pursue. We argue that the joint bond funds and regional bond market linkups that follow existing trade, FDI and bank ties will broaden the sources of finance, can improve market discipline, provide signals to the market, and thus increase financial stability. Based upon bond market data and analysis of regional efforts like the Asian Bond Funds, we argue that bond market development should be given more attention to foster growth and stability. (author's abstract) / Series: EI Working Papers / Europainstitut

Syfte: Att skapa förståelse för hur situationen på en marknad kan påverka den finansiella stabiliteten. Med det som grund göra en samlad bedömning om vilka risker som finns på Sveriges bostadsmarknad för att utvärdera hur och om de kan påverka finansiell stabilitet idag. Metod: För att ge oss en ökad förståelse om hur finansiell instabilitet uppstår på en marknad har vi tagit hjälp av Hyman P. Minskys teoretiska modell “The Financial Instability Hypothesis”. Teorin har vi sedan applicerat på utvalda finansiella kriser för att studera vad som karaktäriserat dem i sin utformning. Vår forskning har bedrivits med kvalitativa intervjuer med olika organisationer som arbetar aktivt för att upprätthålla och se över den finansiella stabiliteten i Sverige. Slutsats: Vi har identifierat externa och interna faktorer som kan påverka finansiell stabilitet. Oro inom det europeiska bankväsendet utgör största hotet mot finansiell stabilitet idag. Problem kopplade till Sveriges bostadsmarknad utgör inget direkt hot mot finansiell stabilitet, dock visar marknaden tendenser på ineffektivitet. Lågt bostadsbyggande och allmänt lågt utbud matchar inte efterfrågan, detta driver upp priser men även skulder. Priser och skulder kan till stor del förklaras med logiskt ekonomiskt resonemang. / Purpose: To create an understanding of how the situation in a market may affect financial stability. With that as a foundation make an overall assessment of the risks that exist on the Swedish housing market to assess whether and how they can affect financial stability today. Method: In order to obtain increased understanding of how financial instability arises in a market we have used Hyman P. Minskys theoretical model “The Financial Instability Hypothesis”. We have then applied the theory on chosen financial crises in order to study what characterizes them. Our study has been conducted with the help of qualitative interviews with various organizations such as banks and authorities that work to maintain and inspect the financial stability in Sweden. Conclusion: We have identified external and internal factors that could affect financial stability. Concern related to the European banking sector form the greatest threat to financial stability today. Problems related to the Swedish Real Estate Market constitute no direct threat to financial stability, however market trends shows inefficiency. Low housing and low supply in general do not match demand, this drives up prices, but also debts. Prices and debts can largerly be explained by logical economic reasoning.