Kazachenok O.P. Legal Measures of Integration of Russian Multinational Corporations in the Global Financial System
Olesya Pavlovna Kazachenok
Candidate of Juridical Sciences, Associate Professor, Department of Civil and International Private Law,
Volgograd State University,
Base Department of the Southern Scientific Center of the Russian Academy of Sciences
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Prosp. Universitetsky, 100, 400062 Volgograd, Russian Federation
Abstact. The article highlights the objective conditions and the need for harmonization of legal regulation of the activities of transnational banks in the Russian nationality in the transformation of the global banking system under the influence of the process of economic and legal globalization. The research deals with an urgent problem of strategic development of Russian credit organizations, aimed at improving the competitiveness of domestic banks and consolidation of the Russian financial market. Special attention is paid to the issues of competitiveness of Russian banks, the insufficient level of their capitalization and creditworthiness of their borrowers. The list of current problems hindering the access of Russian banks to foreign markets includes inadequate capitalization of domestic banks existing in the countries of legal restrictions on opening of branches or subsidiary banks. The author defines primary strategic tasks of development of the national banking system and offers the best options for the expansion of Russian banks. The article identifies legal measures, including those expected from the state, the implementation of which will contribute to improving the competitiveness of domestic banks in the international banking market.
Key words: economic and legal globalization, unification of law, global banking system, international market of banking services, international entities, multinational banks, financial and bank holding companies.
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