THE ROLE OF CREDIT BROKERS IN INCREASING THE STABILITY OF THE FINANCIAL SYSTEM IN RUSSIA
Targeted development of credit brokerage is an essential element of the government program concerning the Russian credit system and financial market development. It calls for immediate improvement of the legislation and the regulatory framework, introduction of new Basel-II and Basel-III standards,...
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| Format: | Article |
| Language: | Russian |
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Government of the Russian Federation, Financial University
2017-10-01
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| Series: | Финансы: теория и практика |
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| Online Access: | https://financetp.fa.ru/jour/article/view/56 |
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| _version_ | 1849242221911474176 |
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| author | D. K. Mashtakeeva |
| author_facet | D. K. Mashtakeeva |
| author_sort | D. K. Mashtakeeva |
| collection | DOAJ |
| description | Targeted development of credit brokerage is an essential element of the government program concerning the Russian credit system and financial market development. It calls for immediate improvement of the legislation and the regulatory framework, introduction of new Basel-II and Basel-III standards, development and implementation of the methodology and mechanisms of credit institution regulation to ensure protection of rights of creditors and financial services consumers. The article presents a comparative analysis of the international experience and the Russian practice in the lending sphere and investigates the work of the credit brokerage institution in the framework of the current legislation and established business practices along with problems arising in professional activities carried out by a credit broker. The author explores the duties of credit brokers and classifies the latter according to their specialization in the credit services market. The author also identifies the basic stages and formulates the tendencies of the credit brokerage development abroad and in Russia paying special attention to the issues of self-regulation and activities of the National Association of Credit Brokers and Financial Consultants of Russia (ACBR). The article contains recommendations for legislative and executive authorities and gives a summary of the ACBR activities. The introduction of the proposed innovations will promote progressive development of the mechanism of state regulation in the credit brokerage field along with the credit brokerage transformation to an efficient mechanism in the credit market. |
| format | Article |
| id | doaj-art-7b70626cd5d1490396d7ed50214a25e2 |
| institution | Kabale University |
| issn | 2587-5671 2587-7089 |
| language | Russian |
| publishDate | 2017-10-01 |
| publisher | Government of the Russian Federation, Financial University |
| record_format | Article |
| series | Финансы: теория и практика |
| spelling | doaj-art-7b70626cd5d1490396d7ed50214a25e22025-08-20T03:59:53ZrusGovernment of the Russian Federation, Financial UniversityФинансы: теория и практика2587-56712587-70892017-10-0103839210.26794/2587-5671-2014-0-3-83-9293THE ROLE OF CREDIT BROKERS IN INCREASING THE STABILITY OF THE FINANCIAL SYSTEM IN RUSSIAD. K. Mashtakeeva0Financial universityTargeted development of credit brokerage is an essential element of the government program concerning the Russian credit system and financial market development. It calls for immediate improvement of the legislation and the regulatory framework, introduction of new Basel-II and Basel-III standards, development and implementation of the methodology and mechanisms of credit institution regulation to ensure protection of rights of creditors and financial services consumers. The article presents a comparative analysis of the international experience and the Russian practice in the lending sphere and investigates the work of the credit brokerage institution in the framework of the current legislation and established business practices along with problems arising in professional activities carried out by a credit broker. The author explores the duties of credit brokers and classifies the latter according to their specialization in the credit services market. The author also identifies the basic stages and formulates the tendencies of the credit brokerage development abroad and in Russia paying special attention to the issues of self-regulation and activities of the National Association of Credit Brokers and Financial Consultants of Russia (ACBR). The article contains recommendations for legislative and executive authorities and gives a summary of the ACBR activities. The introduction of the proposed innovations will promote progressive development of the mechanism of state regulation in the credit brokerage field along with the credit brokerage transformation to an efficient mechanism in the credit market.https://financetp.fa.ru/jour/article/view/56financial marketcredit brokerprotection of the rights of financial services consumersrisksgovernment regulationself-regulationcertificationfinancial consultantprofessional standard |
| spellingShingle | D. K. Mashtakeeva THE ROLE OF CREDIT BROKERS IN INCREASING THE STABILITY OF THE FINANCIAL SYSTEM IN RUSSIA Финансы: теория и практика financial market credit broker protection of the rights of financial services consumers risks government regulation self-regulation certification financial consultant professional standard |
| title | THE ROLE OF CREDIT BROKERS IN INCREASING THE STABILITY OF THE FINANCIAL SYSTEM IN RUSSIA |
| title_full | THE ROLE OF CREDIT BROKERS IN INCREASING THE STABILITY OF THE FINANCIAL SYSTEM IN RUSSIA |
| title_fullStr | THE ROLE OF CREDIT BROKERS IN INCREASING THE STABILITY OF THE FINANCIAL SYSTEM IN RUSSIA |
| title_full_unstemmed | THE ROLE OF CREDIT BROKERS IN INCREASING THE STABILITY OF THE FINANCIAL SYSTEM IN RUSSIA |
| title_short | THE ROLE OF CREDIT BROKERS IN INCREASING THE STABILITY OF THE FINANCIAL SYSTEM IN RUSSIA |
| title_sort | role of credit brokers in increasing the stability of the financial system in russia |
| topic | financial market credit broker protection of the rights of financial services consumers risks government regulation self-regulation certification financial consultant professional standard |
| url | https://financetp.fa.ru/jour/article/view/56 |
| work_keys_str_mv | AT dkmashtakeeva theroleofcreditbrokersinincreasingthestabilityofthefinancialsysteminrussia AT dkmashtakeeva roleofcreditbrokersinincreasingthestabilityofthefinancialsysteminrussia |