Development of Refinancing System of the Russian Banking Sector

Rasul A. Musaev () and Denis V. Kleshko ()
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Rasul A. Musaev: Lomonosov Moscow State University, Russia
Denis V. Kleshko: Lomonosov Moscow State University, Russia

Finansovyj žhurnal — Financial Journal, 2015, issue 2, 42-51

Abstract: Privileged access of commercial banks to refinancing system of the Central bank leads to structural liquidity deficit in banking sector, forcing small-sized banks to use the interbank lending market, which have specific limitations and disadvantages. The article deals with the existing system of banks refinancing. In addition, the authors have developed a set of measures to enhance the efficiency of refinancing system as mechanism of borrowing price formation in the economy.

Keywords: refinancing system; key rate; interbank lending market; liquidity; unified pool of collateral; unsecured loan (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:fru:finjrn:150205:p:42-51

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