Borisov, A.N. Transnational banks as important subjects of the international currency system

Abstract: The article is devoted to one of the key tendencies in the development of the global currency system in the conditions of financial globalization, that is the strengthening of transnational character of the global and European banks, including those in the CIS and in the Russian Federation, as well as the changing degree of export of banking services to foreign states. The author analyzes the tendency for the growing assets of the systemically valuable financial institutions and the percentage correlation of the amount of assets of the largest banks and the combined baking assets in the EU if compared with the gross domestic product of the home base state, which reflect the degree of influence of the banking system and particular largest banks on the real economy. The article shows that the problems of some largest banks may become the problems for the entire states and the global currency and financial system as a whole. The author views the measures, which are taken by the IMF, the EU, and Russia in order to guarantee greater economic security, and sustainable stability of the global currency and financial system, as well as for the formation of the efficient regulation and supervision policy towards the largest global and European transnational banks.

Keywords: