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Economic security of the credit institution: factors, threats, enhancement measures

Sazonov S.P. Volgograd State Technical University, Volgograd, Russian Federation ( sazonovsp@mail.ru )

Ezangina I.A. Volgograd State Technical University, Volgograd, Russian Federation ( ezanginaia@rambler.ru )

Evseev R.S. Volgograd State Technical University, Volgograd, Russian Federation ( roman.evseev@mail.ru )

Journal: Financial Analytics: Science and Experience, #31, 2016

Subject The article deals with the issues of ensuring the economic security of credit organizations.
Objectives The paper aims to bring up to date the concept of economic security, approaches to its definition, risks, threats, management practices in relation to the modern commercial bank.
Methods To consider the problem, we used the systems and functional approach within which we applied scientific methods of abstraction, analysis, synthesis, induction, and deduction.
Results We prove that the security level of a modern Bank along with traditional types of risk, as permanent control objects, gets affected by new types of threats, especially the remote banking risk. We identified and clarified the specificity of the concept of banking economic security.
Conclusions and Relevance The main method of evaluating the security of a credit organization is the indicator approach used in the management of traditional risks. The various intruders with criminal intent of unauthorized access, implemented via remote banking services, make an integrated approach to managing the Bank's customer base absolutely essential, to ensure the confidentiality, integrity, authenticity of bank information, and the economic security. The results can be taken into account in the financial policy of the credit organization, especially in remote banking risk management solutions.


Promising tools of project finance: a contemporary view

Ezangina I.A. Volgograd State Technical University, Volgograd, Russian Federation ( ezanginaia@rambler.ru )

Khmurova T.V. Volgograd State Technical University, Volgograd, Russian Federation ( tanya.kriushina@yandex.ru )

Journal: Financial Analytics: Science and Experience, #20, 2016

Importance Currently, business community faces needs for higher finance of investment projects, which is of big social and infrastructure significance for the national economy. In this respect, it is necessary to identify, systematize and examine some factors, which impact investment project financing processes in a different way, and analyze the existing financial tools.
Objectives The research comprehensively reviews the substance of project finance, its strengths and weaknesses, and evaluates how relevant tools for its implementation are integrated in the Russian stock market, and whether they bring any opportunities.
Methods The research draws upon general scientific methods and techniques, i.e. methods of scientific abstraction, analogy, analysis, synthesis and comparison, systems and structural approach to analyzing the subject matter of the research.
Results We provide the rationale for diversifying product mix of financial institutions and devising new forms of project finance, which would allow investors to grasp additional levers and steer credit risks, while companies acquire necessary resources to implement innovative and investment projects.
Conclusions and Relevance We identified the concept of project finance, specified what it meant in the current circumstances as the source for return on investment was separated from financial results of project initiators’ operations. We also reveal the substance of syndicated loan, mezzanine and bridge finance, and determined them as promising tools for project implementation purposes. The article indicates that multiple sources of finance are typical of the current business practices and systematizes issues of the Russian project finance institutions, outlining its further development paths.


Project finance issues in Russia: The specifics of provisions for possible losses of stakeholder banks

Ezangina I.A. Volgograd State Technical University (VSTU), Volgograd, Russian Federation ( ezanginaia@rambler.ru )

Zakharova N.D. Volgograd State Technical University (VSTU), Volgograd, Russian Federation ( zndvstu@mail.ru )

Journal: Financial Analytics: Science and Experience, #3, 2019

Subject Project finance is a promising tool for generating business and national resources, incrementing the income of financial institutions. It is especially difficult for banking institutions that offer investment products to make provisions for project finance deals.
Objectives The study updates the definition of provisions for losses in terms of project finance. We also analyze the specifics and issues of its formation, search for promising aspects that the State and business should focus on in their activities in order to create an effective mechanism for making provisions for possible losses.
Methods The study is based on the systemic and functional approach, general methods of abstraction, analysis and synthesis.
Results The article demonstrates that investors (banks) are exposed to higher and special credit risks associated with project finance deals because the future cash flow will work as the collateral value and a new SPV has no credit history. We describe the mechanism for making provisions for possible credit losses and respective debts as part of project finance. We analyze portfolios of project finance deals and provisions with respect to some banks. The article shows what impedes further improvements in the procedure for making provisions for project finance deals.
Conclusions and Relevance It is advisable to depart from the traditional regulatory practice and legislative approval of the technique for making credit risk provisions as part of project finance. The technique should accommodate for three basic components, i.e. financial sustainability of an SPV, the State's stake, private (banking) co-finance mechanism. The findings can be relevant to the regulatory practice of the State for controlling and mitigating costs that credit institutions incur to make reserves.


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