THE BANK OF RUSSIA AS A MEGAREGULATOR OF THE MODERN NFO MARKET

Abstract: the article is devoted to the modern market of non-credit financial organizations and the role of the Bank of Russia in its regulation. The author notes the characteristic features of the market of non-credit financial organizations, the structure of its subjects, including two groups of non-credit financial organizations, based on the use of monetary or information resources. The content and main goals of the Bank of Russia’s inspection activities in the NFO market, the relationship between contact and remote supervision: differences and unity are considered. Recently, there has been a sharp discussion among scientists and practitioners about the feasibility of implementing a comprehensive approach to financial market regulation by abandoning the model of departmental regulators in favor of a mega-regulator of the NFO. From the point of view of the development of the real sector, to increase competitiveness and expand market share, additional financial resources are needed, which can be obtained from financial market entities. Creating a favorable environment for their functioning is an important task of the state, as the inconsistency of the mechanism for regulating the activities of financial market entities can lead to negative consequences for the real economy and provoke a systemic economic crisis. Taking this into account, the study of financial market regulation models is an actual direction of modern economic analysis. The aim of the article is to analyze the feasibility and forecast the possible consequences of creating a megaregulator of the financial market of the NFO at the present stage from the position of ensuring sustainable market development.

Keywords: financial markets, supervision, regulation, financial system, non-credit financial organization, economic growth, financial product, unification

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