MUNICIPAL BANKS AS A TOOL OF DEVELOPMENT OF MUNICIPALITIES: FINANCIAL AND LEGAL ASPECTS
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Author(s): | Mironova S. M., |
| Number of journal: | 3(40) | Date: | August 2017 |
| Annotation: | Municipalities lacking the financial means use different tools to improve their financial situation. At different times of the Russian history municipal banks, which was established by the local self-governments for development of the territory and improvement of the welfare of the population, serve as such tool. Municipal banks previously played a significant role in the development of municipalities are almost not required currently. The article provides analysis of their impact on financial development of municipalities in the retrospective and in the modern conditions. The conclusion is made that the current banking legislation does not make either any preferences for municipal banks when they are established or special conditions for banking activities. |
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| Keywords: | banking legislation, credit institution, bank, bank with basic license, bank with a universal license, municipal bank, authorized capital, financial development of municipalities, local budget, one-business towns. |
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| For citation: | Mironova S. M. Municipal banks as a tool of development of municipalities: financial and legal aspects // Business. Education. Law. Bulletin of Volgograd Business Institute. 2017. No. 3 (40). P. 146–152. |
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