Аннотация:The paper discusses options for development of the economy in general and
the financial system, particularly in the context of economic slowdown.
The author analyzes the changing conditions of Russian banks. There are
the problems of formation of the capital base of Russian banks and how to
maintain and increase it. The author proposes the use of subordinated debt
as an effective tool for capitalization under unstable growth. Solving problems
at the micro level is considered in two ways: 1) strengthening institutions for
the protection of the rights of the creditor and mortgagee, 2) establishing a
system of adequate regulation of the financial system, corresponding to the
real situation in the economy (the principle of economic realism). There
is proposed to introduce the concept of security deposit in legislation and
to change the conditions of its use as a means of collateral. Also there is
discussed the registered pledge, its terms and taking into account the discount
with provisions on credit risks. Finally, it discusses measures to improve and
preserve the regional banking system.