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The essence and role of deposit resources in commercial banks

Ilyunina D.A. Sevastopol State University, Sevastopol, Russian Federation ( d.a.ilunina@gmail.com )

Lunyakov O.V. Sevastopol State University, Sevastopol, Russian Federation ( lunyakov@mail.ru )

Journal: Finance and Credit, #32, 2017

Subject The article considers the issue of deposit resource formation by a commercial bank.
Objectives The purpose is to disclosure theoretical aspects of deposit resources as a major source of loan and investment financing and to describe factors affecting the amount of funds mobilized by the commercial bank.
Methods The study employs theoretical, analytical, comparative and graphic methods.
Results We offer a classification of deposit resources enabling to distinguish the most typical types of deposits and to provide their comprehensive description; generalize the process of deposit portfolio formation on the basis of existing and newly-entered contracts, and by the degree of funds stability; consider deposits from the perspective of their value and volatility (risk) and external and internal factors affecting the amount of attracted deposits.
Conclusions Under the current sanctions, the Russian banking business faces the problem of reduced opportunities for additional financial resource attraction in foreign markets to improve liquidity. Banks also have to adapt to low credit activity of customers and higher risk. It is crucial for banks to define a long-term development strategy, diversify deposit portfolio by the stability of funds for their further use in credit and investment activities. The findings may be useful for elaborating the theory of financial intermediation, and for commercial banks adjusting the deposit policy to the current economic conditions of their functioning.


The endogeneity of money supply through the lens of circulating cryptoassets and the issue of digital currency of the Central Bank

Lunyakov O.V. Financial University under Government of Russian Federation, Moscow, Russian Federation ( OVLunyakov@fa.ru )

Journal: Finance and Credit, #7, 2019

Subject The article reviews consequences that may affect the banking sector after the central bank introduces the digital currency and develops the market of cryptoassets.
Objectives The study formalizes possible changes in the banking sector’s capabilities for expanding the money supply.
Methods Illustrating the three-sector model of economy, I analyze changes in the balance of financial assets and liabilities of macroeconomic agents, considering the circulation of cryptoassets. Subsequently, the digital currency of the central bank is integrated into the domestic economy model as an innovative payment mechanism, implying two scenarios, i.e. without the accrual of interests on the balance with the central bank and with such an accrual.
Results Private tokens, including cryptocurrencies, open up new horizons for diversifying savings. They ares likely to have no significant effect on the endogeneity of money supply, since savings remain rather volatile. On the other hand, the issue of the central bank’s digital currency can considerably influence the extent of lending and deposit practices, challenging the liquidity and growth in the cost of funding for credit institutions.
Conclusions and Relevance Issuing the digital currency and accruing interests on the balance, the central bank forges a new mechanism for monetary regulation. In the mean time, the banking sector may face the liquidity challenge and rise in the cost of funding, which may curb lending programs and limit the endogenous issue of money. The findings unfold fundamental principles of the modern theory of money. The scenarios analyzed herein can be used by monetary authorities to substantiate their decisions on the financial market regulations.


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