Open AccessEntrepreneurial Activity of the Bank of Russia
Author(s) -
О. А. Тарасенко
Publication year - 2020
Publication title -
aktualʹnye problemy rossijskogo prava
Language(s) - English
Resource type - Journals
eISSN - 2782-1862
pISSN - 1994-1471
DOI - 10.17803/1994-1471.2020.115.6.073-083
Subject(s) - competition (biology) , business , payment , legitimation , state (computer science) , financial system , market economy , financial services , commerce , economics , finance , political science , ecology , algorithm , politics , computer science , law , biology
The paper is focused on the possibility for the Bank of Russia to enter into the market of banking services, their legitimation and influence on the state of competition and supervision in the Russian banking and national payment systems. The author highlights that an entrepreneurial component in the activity of the Bank of Russia is strengthening, which has taken place due to implementation of tasks on digitalization of the Russian banking system. It is concluded that the accepted model of fintech admission to the market of banking services is, to a certain extent, limited, which will not allow it to develop in the conditions of free competition. The author also investigates the negative aspects of the presence of the Bank of Russia in the market of banking services. The presence of the Bank of Russia in the market entails a conflict of interests accompanied by the adoption of extraordinary acts and acts that restrict competition, which makes the development of the market inert and inhibits the digital economy. The paper provides for regulatory novelties stimulating clear restrictions on the implementation of business activity of the Bank of Russia.