Importance We analyzed the monitoring system used in the banking sector. Whereas information flows of the contemporary society and globalization of the world economy grow annually, information security of banks is relevant. Objectives The research aims at identifying trends in development of commercial banks that resulted in risk exposure of the Russian banking sector.The research focuses on a qualitative evaluation of the banking sector in the Russian Federation by analyzing trends in commercial banks' performance indicators as compared with the crises of 1998 and 2008. Results We performed monitoring of the banking sector of the Russian Federation throughout the period of 2001 to 2014, relying upon certain indicative parameters. The monitoring allowed us to determine the most crucial trends. The positive ones include a decline in doubtful and bad loans, major credit risks associated with assets in the banking sector. The negative ones represent a growth in interest and currency risks, banks' capital deficit. We suggest the Russian banking sector should apply a comprehensive risk monitoring system, which is based on interaction and balanced activities of centralized and decentralized subsystems for monitoring banking risks, thus ensuring ongoing and timely identification, assessment and forecast of risks. Conclusions and Relevance Financial and economic crises in 1998 and 2008 mainly stemmed from a number of negative trends and factors that intensified banking risks. Furthermore, analysis reveals that the current circumstances require rapid identification, diagnostics and monitoring of risks in the national banking sector. To survive the current circumstances, commercial banks should analyze results of financial risk monitoring as quickly and effectively as possible. They should respond to negative changes, project possible scenarios and undertake appropriate measures to ensure sustainability, reliability and stability.
Keywords: crisis, banking sector, monitoring, risk, sustainability, banking system
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