Mironycheva E.G.Lobachevsky State University of Nizhny Novgorod - National Research University, Nizhny Novgorod, Russian Federation kornil2000@yandex.ru
The article deals with the Russian Federation's credit policy. The research aims to identify the possible changes of loan policy at the present stage. Stimulating the flow of financial resources to the entities of economic process serves as a well-known way of increasing economic growth. Banking system assumes the main role. The development of credit relations is one of the universally accepted instruments of stimulation. To get the desired effect from banking sector, it is necessary to analyze the Russian banks' credit policy in order to adapt it to the current economic situation. The RF Government provides the sufficient conceptual assessments of the evolved situation. At the same time, currently, there is no solution in the form of system actions aimed at overcoming the negative trends. Some Russian economists believe stagnation with significant opportunities for the internal market development is the question of an adequacy of strategic management system. The Ministry of Finance of the Russian Federation proposes to avoid sliding back into recession at the expense of macroeconomic stability, and costs reduction over the next three years. Containing inflation, primarily by raising key interest rates, the Bank of Russia envisages as the main task under the current situation. Reducing competition with imported goods through the ruble devaluation remains as an important growth stimulating factor. But it requires financial resources that within the limited foreign borrowing should be solicited from the domestic market. Banks must change the credit policy towards lowering interest rates on issued loans, and increase deposit rates. The authors emphasize that the probability of proactive changes in credit policy of banks is rather slim. Because of that, only external factors can change banks' credit policy. It may include not only the monetary policy parameters of the Central Bank of the Russian Federation, but also the new regulatory activities associated both with providing loans of the banking sector and their limited use.
Keywords: credit policy, loan rates, Central Bank key rate, deposit, growth rates, gross domestic product, real incomes
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