Key issues in the development of the Russian banking system in 2000–2013.

This article examines the development of the Russian banking system from 2000 to 2013, analyzing key strategic documents of the government and the Central Bank. After the 1998 crisis, which significantly reduced the number of credit institutions, the banking system suffered from low capitalization, a lack of trust, and a narrow resource base. In the early 2000s, Gref's program became the basis for reform. The program provided for a reduction in tax pressure, the introduction of a deposit guarantee system, a “cleansing” of banks through mass inspections, tightening of capital requirements, and the introduction of international reporting standards. There were also plans to centralize banking supervision and liberalize the admission of foreign capital. However, despite these measures, the full implementation of the reform tasks, especially in terms of admitting foreign capital, was delayed until 2013. The 2001 Banking Sector Development Strategy continued the line of the Gref Program, but its implementation was partial, with insufficient effectiveness in assessing credit risks and opening the banking sector to foreign capital. The 2004 banking crisis, caused by depositor panic and an outflow of funds, demonstrated the ineffectiveness of some regulatory measures and banking selection tools. The 2004 strategy and the 2006 medium-term program of the Fradkov government focused on building the banking sector's potential for economic growth and positioning it in international markets. During this period, the task of creating a mega-regulator for all segments of the financial market was also set for the first time. By 2011, the situation in Russian banking allowed for the goal of creating an international financial center and selecting the banking system. Thus, it can be stated that the main tasks set out in the documents have been accomplished.

contemporary russian history, history of Russian banking, banking system, financial system of Russia, development strategies of Russia, banking system reform, economic crisis, history of the Central Bank of Russia, Putin, Putin`s reforms