banking sector

Misseling as a modern tool of unfair sales of banking products and services in commercial banks	Introduction. Misseling has become a problem for commercial bank customers today. Misseling can be found both in large credit institutions and small banks. Formally, this is not a violation of the law, but, in fact, misleading of the client. In fact, there is a bank fraud when selling a banking product or service. Despite the fact that this phenomenon can be found in almost any bank to varying degrees of participation, from a scientific point of view it has not yet been sufficiently studied, although recently the Bank of Russia has made an attempt to regulate this process legislatively. Theoretical analysis. The article analyzes the concept of “misseling” and its place in the technique of unfair sales of banking products and services in commercial banks. Modern types of misseling are distinguished: unfair information, related sales, opaque pricing, sale of unsuitable products, product substitution. Empirical analysis. It was revealed that the number of misseling cases in the banking sector in the analyzed period increased, one of the reasons was a significant reduction in the key rate after its high value, low level of the population’s financial literacy. Against the background of a significant decrease in complaints related to investment life insurance, there was an increase in complaints related to cumulative life insurance, as well as the number of all other complaints on various topics. Results. The directions of improvement on encountering misselling by the Bank of Russia, commercial banks and clients are formulated and described. One of these areas was the introduction of new rules for the sale of financial products by the Bank of Russia. If the Central Bank of the Russian Federation detects a violation on the part of a commercial bank, it has the right to issue an order to the financial institution to suspend the sale of the product until the problems are eliminated. In some cases, the Bank of Russia may oblige the bank to buy back from customers all products sold in violation and make a full refund.	Izv. Sarat. Univ. Economics. Management. Law, 2023, vol. 23, iss. 1
Analysis of Banking Sector Influence on Economic Growth of the Russian Federation	Introduction. At present, the central problem for most countries in the world is to achieve sustainable economic growth rates. Traditionally, the factors of economic growth include labor, natural resources, physical capital, technology. Recently, the level of development of the financial system and, in particular, of the banking sector providing loans to the real sector of the economy with financial resources has been singled out separately. The aim of the work is to econometrically study the impact of bank lending on economic growth, testing on the Russian data of cause-effect relationships and reactions to shocks. The observation period is from the first quarter of 2000 to the fourth quarter of 2016 (68 quarter-mean values). Theoretical analysis. A comparative analysis of modern approaches, adopted in foreign and domestic literature, to study the influence of various factors on economic growth. The econometric methodology of the study of the statistical interrelation between nonstationary time series, including Ingle-Granger cointegration tests, causality research and shock responses based on the vector error correction model (VECM) was used in the work. Based on the recommendations of economic theory and analysis of foreign and domestic literature, the following macroeconomic and financial indicators were selected as factors of economic growth: the volume of investments in fixed assets, the unemployment rate and the volume of bank lending. Empirical analysis. Comparison of time series of quarterly values of macroeconomic and financial indicators of the banking sector of Russia for 2000-2016 is carried out. For calculations and modeling, the modern econometric package Gretl was used. Testing for stationarity, determination of the degree of integration (I = 1); tests for coin-tegration (confirmation of the presence of cointegration ratio); Cointeratation analysis, causality testing and shock response analysis using VECM. Results. Based on the Inglane-Granger test, cointegration of the nonstationary time series studied is established: GDP, the volume of bank lending, the volume of investment in fixed assets. A statistically significant dependence of GDP on the indicators of the banking sector and the real economy was found. The existence of the effect of bank lending on GDP has been quantified, but to a lesser extent than the impact of investment in fixed assets and unemployment. A vector model of error correction is constructed and the functions of the impulse response to variable shocks are investigated. The Granger causality test confirmed the interdependence between macroeconomic indicators and the volume of bank lending.	IZVESTIYA OF SARATOV UNIVERSITY. NEW SERIES. SERIES: ECONOMICS. MANAGEMENT. LAW. 2018. vol. 18, iss. 2