STATE REGULATION OF BANKING BUSINESS UNDER MODERNIZATION OF THE FINANCIAL MARKET

Анотація

The article deals with the problems of theoretical and empirical scientific research of institutional principles of reviewing and filling of state regulation of banking business with new content under formation of the developed banking system. The theoretical and methodological bases of the study are dialectical, system-logical and complex methods of scientific cognition, which have made it possible to ensure the validity and justification of conclusions and recommendations. The practical relevance of the study is that the fundamental tenets of the financial theory, the Strategy of Ukrainian Financial Sector Development until 2025, the NBU Strategy and Action Program for 2020, the main provisions of the USAID Financial Sector Transformation Project allow, in the current context, the modernization of Ukraine's financial sector to formulate proposals for creation of an effective system of state regulation of banking business. The basic theoretical and methodological approaches to justification are systematized: necessity of making non-standard decisions in banking business in accordance with optimization of banking process and modernization of the financial market; the essence of state regulation of banking business and clarifying its role in ensuring the stability, consistency and reliability of banking activities, protection of depositors' interests; systematization of the approaches of state regulators to the intentions to enforce the provisions of the Split Law; reform of the system of certification of asset managers and stock market specialists. It is argued that in order to increase the stability and efficiency of the banks and the banking system, it is necessary to improve the transmission mechanism by: ensuring an increase in the share of derivatives in the volume of bank customers' operations in the currency market of Ukraine; an increase in the average daily volume of the secondary market of the domestic government bonds; ensuring an increase in the daily volume of government repo operations with the domestic government bonds. The sequence of financial market modernization will help to systematize the development of financial services and the financial system as a whole.

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