Evaluation of the Impact of the Bank of Russia Key Rate on the Commercial Banks’ Deposit Policy

The monetary policy of the Central Bank is in the sphere of interests of economists of various specializations. Determining the value of money in the economy, the money supply, and ensuring the effective functioning of the national payment system, the regulator has a significant impact on the state...

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Autores principales:	M. N. Konyagina, I. R. Meurmishvili, A. A. Dochkina
Formato:	article
Lenguaje:	EN RU
Publicado:	North-West institute of management of the Russian Presidential Academy of National Economy and Public Administration 2020
Materias:	deposit deposit policy key rate commercial bank regulator Political institutions and public administration (General) JF20-2112
Acceso en línea:	https://doaj.org/article/2fad290d363540e98b0f35e6d1779171
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id	oai:doaj.org-article:2fad290d363540e98b0f35e6d1779171
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spelling	oai:doaj.org-article:2fad290d363540e98b0f35e6d17791712021-11-12T10:46:12ZEvaluation of the Impact of the Bank of Russia Key Rate on the Commercial Banks’ Deposit Policy1726-11391816-859010.22394/1726-1139-2020-8-99-111https://doaj.org/article/2fad290d363540e98b0f35e6d17791712020-09-01T00:00:00Zhttps://www.acjournal.ru/jour/article/view/1487https://doaj.org/toc/1726-1139https://doaj.org/toc/1816-8590The monetary policy of the Central Bank is in the sphere of interests of economists of various specializations. Determining the value of money in the economy, the money supply, and ensuring the effective functioning of the national payment system, the regulator has a significant impact on the state of the economy and determines the prospects for its development. One of the most important monetary policy instruments is the key rate. However, the efficiency of its application in different economies at different historical periods is different.At the same time, commercial banks, being the core of the credit system, are extremely dependent on the volume and quality characteristics of accumulated deposits. Private clients’ deposits are an important resource for both short-term and long-term operations of credit organizations. In Russia, banks play a leading role in the financial market. In this regard, the evaluation of the impact of a key rate as an important monetary policy instrument on the banks’ deposit policy is of particular relevance in the current state of the Russian economy. Therefore, determining as an aim of the research the evaluation of the current impact of the Bank of Russia key rate on the Russian credit organizations’ deposit policy, the authors sorted out the necessary relevant data on interest rates and deposit volumes in Russian commercial banks in 2014–2018, assessed the strength of the relationship between the Bank of Russia key rate and banks’ deposit rates and the volume of deposits in the country, identified the problems of implementing monetary policy in Russia and evaluated the effectiveness of the key rate as the monetary policy tool.M. N. KonyaginaI. R. MeurmishviliA. A. DochkinaNorth-West institute of management of the Russian Presidential Academy of National Economy and Public Administration articledepositdeposit policykey ratecommercial bankregulatorPolitical institutions and public administration (General)JF20-2112ENRUУправленческое консультирование, Vol 0, Iss 8, Pp 99-111 (2020)
institution	DOAJ
collection	DOAJ
language	EN RU
topic	deposit deposit policy key rate commercial bank regulator Political institutions and public administration (General) JF20-2112
spellingShingle	deposit deposit policy key rate commercial bank regulator Political institutions and public administration (General) JF20-2112 M. N. Konyagina I. R. Meurmishvili A. A. Dochkina Evaluation of the Impact of the Bank of Russia Key Rate on the Commercial Banks’ Deposit Policy
description	The monetary policy of the Central Bank is in the sphere of interests of economists of various specializations. Determining the value of money in the economy, the money supply, and ensuring the effective functioning of the national payment system, the regulator has a significant impact on the state of the economy and determines the prospects for its development. One of the most important monetary policy instruments is the key rate. However, the efficiency of its application in different economies at different historical periods is different.At the same time, commercial banks, being the core of the credit system, are extremely dependent on the volume and quality characteristics of accumulated deposits. Private clients’ deposits are an important resource for both short-term and long-term operations of credit organizations. In Russia, banks play a leading role in the financial market. In this regard, the evaluation of the impact of a key rate as an important monetary policy instrument on the banks’ deposit policy is of particular relevance in the current state of the Russian economy. Therefore, determining as an aim of the research the evaluation of the current impact of the Bank of Russia key rate on the Russian credit organizations’ deposit policy, the authors sorted out the necessary relevant data on interest rates and deposit volumes in Russian commercial banks in 2014–2018, assessed the strength of the relationship between the Bank of Russia key rate and banks’ deposit rates and the volume of deposits in the country, identified the problems of implementing monetary policy in Russia and evaluated the effectiveness of the key rate as the monetary policy tool.
format	article
author	M. N. Konyagina I. R. Meurmishvili A. A. Dochkina
author_facet	M. N. Konyagina I. R. Meurmishvili A. A. Dochkina
author_sort	M. N. Konyagina
title	Evaluation of the Impact of the Bank of Russia Key Rate on the Commercial Banks’ Deposit Policy
title_short	Evaluation of the Impact of the Bank of Russia Key Rate on the Commercial Banks’ Deposit Policy
title_full	Evaluation of the Impact of the Bank of Russia Key Rate on the Commercial Banks’ Deposit Policy
title_fullStr	Evaluation of the Impact of the Bank of Russia Key Rate on the Commercial Banks’ Deposit Policy
title_full_unstemmed	Evaluation of the Impact of the Bank of Russia Key Rate on the Commercial Banks’ Deposit Policy
title_sort	evaluation of the impact of the bank of russia key rate on the commercial banks’ deposit policy
publisher	North-West institute of management of the Russian Presidential Academy of National Economy and Public Administration
publishDate	2020
url	https://doaj.org/article/2fad290d363540e98b0f35e6d1779171
work_keys_str_mv	AT mnkonyagina evaluationoftheimpactofthebankofrussiakeyrateonthecommercialbanksdepositpolicy AT irmeurmishvili evaluationoftheimpactofthebankofrussiakeyrateonthecommercialbanksdepositpolicy AT aadochkina evaluationoftheimpactofthebankofrussiakeyrateonthecommercialbanksdepositpolicy
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Evaluation of the Impact of the Bank of Russia Key Rate on the Commercial Banks’ Deposit Policy

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