ANALYSIS OF THE IMPACT OF MEASURES TO SUPPORT THE BANKING SECTOR BY THE CENTRAL BANK OF THE RUSSIAN FEDERATION IN THE CONTEXT OF ANTI-RUSSIAN SANCTIONS

Banking sector is a key part of the financial system of a country, which provides cash and financial flows both inside and outside the country. At the moment due to the actively changing geopolitical and economic situation banking sector is experiencing significant changes as well which has a noticeable impact on all spheres of social life in the Russian Federation. That is why the Central Bank of Russian Federation has to take measures to support the banking sector by selection and realization of the most effective monetary policy (in current situation), which will soften the consequences of the sanctions pressure. During the research basic elements of the sanctions packages of western countries imposed on the banking sector of Russian Federation and a set of support measures taken by the Bank of Russia and other governmental methods of leveling out the economic consequences due to the sanctions pressure were considered. The authors point out the effectiveness of the Bank of Russia policy aimed at ensuring the sufficient level of liquidity of commercial banks with the help of various instruments such as refinancing rate, changes in the level of mandatory reserves, providing loans and application of indulgences in the field of regulations and restrictions. The degree of influence of the Bank of Russia mechanisms on the banking sector is analyzed and the profit model of the banking sector of the Russian Federation with the help of econometric modeling methods is made. The key rate of the Bank of Russia has become the main driver stimulating lending and raising funds by banking organizations which proceeded to ensure the sufficient levels of liquidity of the banking sector. As a result, the Bank of Russia policy by the end of 2022 had been able to soften the consequences of sanctions pressure and provide sustainability of the credit organizations in the crisis conditions.

Central Bank of the Russian Federation, banks, sanctions, monetary policy, economy development, econometric modeling, income of the banking sector of the Russian Federation, liquidity of the banking sector of the Russian Federation, Bank of Russia key rate, refinancing rate

Vorontsov D. A., Tolstikov G. O., Chekmarev S. A., Zakrevskaya E. A. Analysis of the impact of measures to support the banking sector by the Central Bank of the Russian Federation in the context of anti-Russian sanctions. Biznes. Obrazovanie. Pravo = Business. Education. Law. 2023;2(63):187—195. DOI: 10.25683/VOLBI.2023.63.666.