Importance The article analyzes financial and bank regulation in Russia. Special focus is on ensuring financial stability due to high sensitivity and volatility of macroeconomic parameters under negative external economic factors. The increasing macroeconomic instability in Russia is a result of a combination of a number of crisis-generating factors. Though all the factors are interconnected, each of them viewed in isolation may act as a catalyst of a full-scale system-wide collapse. Methods Based on the analysis performed, we formulate development trends in the Russian financial sector in the mid-run, given the synchronization of the existing bank regulation in Russia and the implemented reform under the Basel III standards and recommendations. Results We have established interrelations between the weakening of the financial system, a slowdown in the growth and modernization of production, and the lack of significant increase in the standard of accumulation within the macroeconomic regulation of the Russian economy. Conclusions and Relevance The increasing disproportions in the banking sector are a sign of system-wide weakness. Should external factors strengthen, this system-wide weakness may transform into 'steady instability' and market pessimism. The Basel III mechanism is of advisory nature. The national regulator is entitled to independently determine the contours of regulatory reform, i.e. to develop individual approaches as to the new rules and standards introduction depending on the readiness of the banking sector, and based on necessary amendments to the effective legislation.
Keywords: public finance, federal budget, investment, country rating, cash liquidity, disproportion, banking sector
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