Author:

Lyudmila G. Kravets and Svetlana V. Potapova

Abstract:

Monitoring of strengths and weaknesses of the participants of Russia’s financial market on the basis of establishing the criteria of systemic importance is crucial for maintaining its sustainable functioning. Institutional structure of financial market includes financial (credit and non-credit) institutions, repre‑ senting its main sector, and non-financial institutions, comprised of corporate entities and households. All participants of the financial market are closely interrelated and interdependent, therefore, the sustain‑ ability of the financial market as a whole critically depends on the sustainability of each of them. Taking into account the fact that systemically important institutions play a decisive role in every sector of the financial market it is necessary to have scientifically validated criteria for their evaluation. In the paper, the authors pinpointed and summarized the most important criteria for assessing systemically important participants of the financial market.

Keywords: financial market; systemic importance; systemic risks; systemically important payment system; systemically important bank; criterion of systemic importance.

For citation:

Kravets L.G., Potapova S. V. Sistemnaya znachimost' sub"ektov finansovogo rynka i kriterii ee priznaniya [Systemic Importance of Financial Market Participants and the Criteria for Its Recognition]. Izvestiya Uralskogo gosudarstvennogo ekonomicheskogo universiteta – Journal of the Ural State University of Economics, 2016, no. 5 (67), pp. 18–28.