Subject The article investigates the current state and development prospects for regional banking systems. Objectives The aim is to analyze aspects of the Russian banking system functioning, to identify the specifics of the bank regulation mechanism in the Russian Federation. Methods The methodological basis of the research is scientific methods of dialectics, analysis, synthesis, induction, deduction, and analogy. Using the combination of economic and statistical methods and econometric analysis, I analyzed the impact of reforms in the Russian banking system in the regional context. Results The study identified key benefits and specific features of regional banking systems functioning. Conclusions and Relevance There is an urgent need to study the peculiarities of regional commercial banks' development to boost their performance and competitive edge. To improve the financial stability of banks, including regional, both the efforts of credit institutions themselves and a balanced policy in the area of bank supervision and regulation are required. Retaining all financially sound banks, occupying a specific market segment, will provide competition in the securities market and contribute to increase the growth rate of the national economy.
Keywords: bank regulation, regional banks, modernization, banking system
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