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ИД «Финансы и кредит»






Finance and Credit

The Relationship Between Monetary Policy and Banking Policy to Manage Macro-Financial Flows of the Russian Banking Sector

Vol. 27, Iss. 8, AUGUST 2021

Received: 15 April 2021

Received in revised form: 29 April 2021

Accepted: 13 May 2021

Available online: 30 August 2021

Subject Heading: Banking

JEL Classification: G21

Pages: 1790–1812


Aleksei A. KONYAEV Plekhanov Russian University of Economics (PRUE), Moscow, Russian Federation


Subject. This article analyzes the current state of the relationship between monetary policy and banking policy to manage macro-financial flows of the banking sector of Russia.
Objectives. The article aims to assess how closely monetary policy and banking policy are linked in order to manage the macro-financial flows of the Russian banking sector.
Methods. For the study, I used normative and integrated approaches, and general scientific and special methods of scientific knowledge.
Results. The article assesses the relationship between monetary policy and banking policy to manage macro-financial flows of the banking sector of Russia.
Conclusions. The Bank of Russia's monetary policy transmission mechanism needs to be developed and improved. Developing a new channel of influence, i.e. the digital channel of the transmission mechanism, is a promising area to improve it.

Keywords: banking sector, macro-financial flows, monetary policy, banking policy


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