Третьякова С.Н.

Today there is a radical restructuring of theoretical and methodological bases of formation of a monetary policy in Russia. The counter-cyclic approach aimed at providing financial stability becomes a basis of regulation of the monetary sphere. On this platform macro-prudential supervision which allows unite various activities of the central bank is formed. Macro-prudential supervision uses tools of a monetary policy and bank micro-prudential supervision. Relevance of information openness and transparency of monetary policy in the conditions of transition to a mode of inflationary targeting grows. Thus current trends in regulation aren't reflected in "The main directions of the uniform state monetary policy". Recommendations about improvement of the main public document of Bank of Russia are presented in article concerning monetary regulation. Offered changes according to the contents of the document, approaches to its logical construction, updating of the name are proved.

Now the change of key parameters of a monetary policy in Russia is going on. The purposes, instruments, the transmission mechanism of a monetary policy and their Russian features are researched. Key problems and the difficulties of transition to inflation targeting in Russia are formulated. Now the Bank of Russia has an opportunity to influence monetary factors, thus the inflation is influenced mainly by the not monetary factors. Instruments of a monetary policy are directed on ultimate goals – inflation. Thus the task isn't to regulate the factors of growth of the money supply – money issue. Identification of the main channels of money issue and the analysis of the mechanism of money issue in modern conditions is necessary. The analysis of economic literature, including a regulatory framework, showed absence of legislatively consolidated concept of money issue and its mechanism. The conclusion that at the heart of the revealed problems insufficient studying of dynamics of development of forms of money is, their functions and basic monetary concepts is formulated. The need of development of a new theoretical basis of the most cash theory taking into account transformation of the mechanism of the money issue in modern conditions is proved.

The article describes the theoretical aspects of the model changes of the monetary conditions under the instability and uncertainty. An objective need for discretionary instruments in formulating and implementing of monetary policy is discussed. The analysis of basic theory of the banking system, money and loans is given. The absence of common understanding and acceptance mechanism of monetary emission in various theories used in banking practice today is revealed. It is shown that while the use of elements of the banking and monetary schools in the construction of the banking system led to conflicting interpretations with respect to the monetary issue. It is proved that the basis for modern banking practices is the loans theory of capital formation, which is based on the priorities of active operation on passive and reveals the mechanism of non-cash issue. Conclusions on the need to develop adequate conditions for the development of modern economic relations, theoretical basis for the formation of monetary policy are given.

In this article the theoretical aspects of monetary and credit regulation are considered. Distinctive features of the concept of monetary and credit regulation in a «broad» and «narrow» sense of the word are formulated. In the first case regulation is the system the subjects of which function at the state and non-state levels. The main subjects of regulation at the state level are revealed: the Bank of Russia, the Federal Treasury, the Ministry of Finance. In the article the role of non-state regulation which is carried out by commercial banks in the course of crediting is shown. The special attention is paid to the allocation of two activities of the Bank of Russia (monetary policy and bank supervision), having impact on the credit activity of commercial banks and the indicators of the monetary and credit sphere. Relevance of the considered theoretical questions is caused by an increase of the requirements to efficiency of the monetary and credit regulation now that demands the scientific justification.

The article describes the features of lending of individuals with the bank cards, the dynamics of consumer loans and the impact of these factors on the money supply. Excluding the identified trends using the instruments of monetary policy by the Bank of Russia is of little effect, which determines the need for their improvement.

The article deals with the controversial issues of non-cash emission, the role of commercial banks and the banking system in the formation of money supply is determined, features of the present emission mechanism based on internal cash flows of banks are revealed.

In the article the features of transformation of the function of banks in the modern world are discussed. Multi-branch banks are able to lend at first, and then mobilize the resources to maintain the liquidity. Understanding the specifics of the contemporary financial intermediation of banks is essential for effective monetary policy instruments and regulation of the activity of banks.

This article is devoted to the basic problem of internal audit organization in the commercial bank. The key problem is a forming of right structure subordination of internal audit service, what defines the effectiveness of this department in general.