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§ 2. Development of legal regulation of activity of the authorised banks of the Government of Moscow in the conditions of definition of a legal status of joint-stock company «the Moscow municipal bank - Bank of Moscow» (1995 - the end of 1999).

In the beginning of 1995 development of relations between the Government of Moscow and the authorised banks has become complicated occurrence on a corresponding segment of the market of bank services of the new subject, namely joint-stock company «the Moscow municipal bank - Bank of Moscow».

The fact of creation of the given bank has essentially affected the further development of interaction of administration of Moscow with the authorised banks. With a view of disclosing of the maintenance of the designated influence we consider the specified event as the beginning of a new conditionally allocated stage of development of legal regulation of activity of the authorised banks

The governments of Moscow.

Creation of the mentioned bank has been authorised by the Order of the Mayor of Moscow from 05.01.95 № I-PM «About prime measures on creation of the Moscow municipal bank» 74. Powers of created bank in many respects duplicated powers of the authorised banks of the Government of Moscow. The argument of creation of this bank was formulated in a preamble of the given certificate as follows: « In the conditions of a precritical situation in bank sector and with a view of perfection of settlement-cash service of accounts on execution of the budget of of Moscow, budgetary and off-budget accounts of municipal authorities and the organisations, strengthenings of the control over target use of budgetary funds, and also maintenance of uninterrupted functioning of the enterprises of a city and an operational administration temporarily free money resources of the budget and taking into account that now the State Duma of the Russian Federation considers a bill of the Russian Federation "About changes in the Law of the Russian Federation" About banks and bank activity "in which existing prohibition to local authorities bodies acts in film to participate in charter capitals of credit institutions and banks, there is an imperative need of creation of the Moscow municipal bank». At the considered Order of the Mayor of Moscow the plan according to which it was supposed to transfer service of municipal budgetary and off-budget accounts from conducting the authorised banks of the Government of Moscow in conducting Central administrative board of the Central bank of the Russian Federation on to Moscow has been stated. Subsequently service of all budgetary and off-budget accounts of of Moscow was necessary for concentrating in created Moscow municipal bank.

The Order of the Mayor of Moscow from 02.03.95 № 105-RM «About creation Moscow municipal became following step to this direction

Bank »75 according to which the Committee on management of property of of Moscow and Fund of property of of Moscow have spoken on behalf a name of the Government of Moscow founders of the specified bank. In these purposes 51 % of actions of Bank in equal proportions have been redeemed and corresponding constituent instruments are signed.

In appendix item 1.2 № 1 to the Order of the Mayor of Moscow from 02.03.95 № 105-RM, it is underlined: «the Bank is created with a view of perfection is settlement - cash service of accounts on execution of the budget of of Moscow, budgetary and off-budget accounts of municipal authorities and the organisations, strengthenings of the control over target use of budgetary funds, maintenance of uninterrupted functioning of the enterprises of a city and an operational administration temporarily free money resources of the budget».

This fact and features of a state of dependence of the Moscow municipal bank in relations with the city authorities allows to consider created bank as the "pocket" bank which is carrying out functions of authorised banks of the Government of Moscow.

At the same time the city administration has gone on the original compromise, not wishing to "sadden" the relation with the authorised banks of the Government of Moscow since positively estimated interaction with the last. The compromise consisted in one of conditions of the stock subscription of the given bank. According to the given condition at excess by the general number of the actions of 49 % declared on acquisition from issue volume «demands of the banks having the higher or high rating of reliability, and also the authorised banks of the Government of Moscow» 76 have Advantage.

Some time after decision-making on creation of the Moscow municipal bank municipal government bodies in mutual relations with the credit organisations still focused the attention on

Interaction with the authorised banks of the Government of Moscow. About it from 03.03.95 № 104-RM «the Order of the Mayor of Moscow testifies To maintenance of a uniform order of mutual relations with commercial banks», the containing instruction to heads of departments, committees, central administrative boards and establishments subordinated to them, the enterprises and the organisations to carry out the Order of the Mayor of Moscow from 22.02.94 № 78-RM "About perfection of conditions of settlement-cash service by banks of accounts on execution of the budget of of Moscow, budgetary and off-budget accounts of municipal authorities and the organisations" with the account prioritetnosti relations with the authorised banks of the Government of Moscow. At the same time it was explained, that the specified order is established «until special instructions».

Such «special instructions» have partially been fixed at the disposal of the Mayor of Moscow from 04.05.95 № 228-RM «About preparation of the concept of service of budgetary and off-budget accounts of of Moscow, and also interaction of the Government of Moscow with the authorised banks» which positions the expediency of working out of the new concept of service of budgetary and off-budget accounts of a city admitted, and also interactions of the Government of Moscow with the authorised banks. It is remarkable, that was provided to reflect in the Concept transfer realisation in the Moscow municipal bank of all budgetary and off-budget accounts of a city.

At the same time, the requirement of city administration throughout interaction with the authorised banks of the Government of Moscow remained actual, as has been fixed at the disposal of the Mayor of Moscow from 26.05.95 № 277-RM «About distribution of uniform conditions of settlement-cash service into accounts of the municipal enterprises and [37 [38] organisations». The given Order had been approved Main principles of settlement-cash service of accounts of the municipal enterprises and the organisations. The aims of the control over movement of budgetary funds and distribution of uniform conditions of settlement-cash service into accounts of the municipal enterprises and the organisations of of Moscow were thus pursued. Along with Main principles, the Order the Typical contract of settlement-cash service by commercial banks of accounts of the municipal enterprises and the organisations also has been approved.

According to Main principles behind the authorised banks of the Government of Moscow the right to carry out settlement-cash service of accounts of the municipal enterprises and the organisations remained. It was thus noticed, that before introduction in action of the uniform automated information monitoring system behind budgetary process all banks which are carrying out service of accounts of the municipal enterprises and the organisations, were obliged to represent monthly the information on a condition and movement of means under corresponding accounts. The given data should be represented to Department of the finance of the Government of Moscow under the established form and in certain terms. Besides it necessity of monitoring procedure behind observance of conditions of the typical contract of settlement-cash service was specified. The given control has been assigned to the holder of the account and on commercial bank serving it.

Interest of a city in activity of the authorised banks of the Government of Moscow has been confirmed also by the Order of the Government of Moscow from 29.06.95 № 1157-RP «About attraction of credit resources for financing of branch programs of of Moscow» 81. At the given Order, to the First assistant to the prime minister of the Government of Moscow [39 [40]

It was recommended together with Department of building and Department of engineering maintenance to involve the authorised banks

The governments of Moscow, that:

• to prepare offers on volumes and conditions of attraction of credits of the authorised banks for reduction of available creditor debts;

• together with the authorised banks to prepare projects of credit contracts and guarantee certificates.

Recognition of positive effect from interaction of administration of Moscow with commercial banks in the field of investments, banking capital attraction in development of the industry, transport,

Hotel and tourist business, other spheres of ability to live of a city has entailed the edition of the Order of the Mayor of Moscow from 14.08.95 № 400-RM «About preparation and carrying out of the Moscow city practical conference« the Moscow banks and business: cooperation ways (experience, problems, prospects) ». At the conference which have taken place on September, 29th, 1995, active participation was accepted by the authorised banks of the Government of Moscow. In the course of carrying out of the given action the special attention has been given directions of strengthening of work and increase of level of coordination of actions from the party both city structures, and commercial banks.

Actually developed scheme of service of the budget of a city through the authorised banks of the Government of Moscow and Bank of Moscow has been fixed in the Law of a city of Moscow from 06.09.95 № 17 «About budgetary process in Moscow» 83. In Law article 8 it was specified: «In Moscow the bank system of cash execution of the budget operates. Establishments of the Central bank of the Russian Federation, the authorised or entrusted banks of the Government of Moscow lead city and filial accounts of the budget of a city of Moscow, and also budgetary accounts of managers [41 [42]

Credits ». The quantity and structure of the banks which are operating accounts and being cashiers of enforcement authorities was thus explained, that, cities of Moscow are defined by the Governmental orders of Moscow in an order, statutory. The given position has been aimed, in particular, at definitive elimination of official distinctions in the status of the confidential and authorised banks of the Government of Moscow.

Confidential banks represented itself as the banks authorised by administrations of administrative districts Moskvy84. It caused certain differences between confidential banks and the authorised banks of the Government of Moscow. One of distinctions consisted that powers of confidential banks did not include service of accounts of the city budget since it was limited to service of budgetary accounts of corresponding administrative districts of Moscow. Also they could not carry out collection of money resources of the budgetary organisations. Thereupon as a concrete example KB activity "Ljublino", were in one time confidential bank of administration of Southeast administrative district of of Moscow can serve. The specified bank effectively carried out functions of integration and coordination of economic development of region \Anyhow, but by present time of confidential banks in Moscow has not remained.

In the course of consideration of development of legal regulation of activity of the authorised banks of the Government of Moscow some inconsistency of positions of city controls in questions of vision of a role of the given credit organisations is observed. So, for example, the Governmental order of Moscow from 19.09.95 № 782 «About the Moscow city program"Dwelling"» 86 in item 5.2 says: «to the Decision [43]

Housing problem change of nowadays practised order of storage of means of the city budget on accounts in the authorised (confidential) commercial banks and refusal of their services in realisation of budgetary financing will promote. Means of tax bearers on social - to economic and ethical reasons should not be a source of incomes of commercial banks ».

Same number (19.09.95) dates the Governmental order of Moscow № 790 «About preparation of the second and third releases of bonds of the Moscow state bonded housing loan» 87. The given Decision, in turn, specifies: «With a view of the further development of progressive forms of financing of housing construction by attraction in this sphere of free money resources of the population and legal bodies on a basis favourable to them, the Government of Moscow enacts protection of these means against inflation:... On the basis of the decision of Council of the authorised banks of the Government of Moscow from 16.11.94 (the report № 7) about putting on of functions of the general manager

The Moscow state housing bonded loan on AB "Inkombank" to confirm them on the second and third releases of bonds of this loan ».

Subsequently evidence of productivity of activity of the authorised banks of the Government of Moscow in budgetary sphere of Moscow has led to the edition of the Order of the Mayor of Moscow from 01.11.95 № 584-RM «About the Concept of management of means of the budget of Moscow and interaction with bank system of a city». The given Order of the Mayor of Moscow can be carried to number of the legal acts having basic value for regulation of activity of authorised banks of the Government of Moscow. This results from the fact that the given certificate it has been approved Concepts of construction of a control system by budget means

х7 Tver, 13. 1995, №42.

hh AKB "Inkombank" it is entered into structure of the authorised banks of the Government of Moscow by the Order of the mayor of Moscow from 19.04.94 № 181-PM.

Moscow.

The concept approved by the Mayor of Moscow, established the base purposes of management of means of the budget of the city which achievement was represented by a necessary condition of normal functioning of all municipal economy. To such purposes have been carried: increase of efficiency of use of financial resources, increase of controllability by budget means, formation of legal base of functioning of budgetary accounts and elements of the bank control over them, working out of the Budgetary code of Moscow, maintenance of safety of budgetary funds turned in bank system, expansion of forms of maintenance of short-term liquidity of the budget.

By Concept working out that in the conditions of instability of bank system there is objectively caused requirement for creation and maintenance of functioning of system of tracing of degree of reliability of the banks admitted to service of budgetary and off-budget accounts of of Moscow was considered. In this connection, realisation of regular check of their observance admitted the Government of Moscow necessary the statement of economic specifications for the banks occupied with service of budgetary and off-budget accounts of a city, and. It has led to a conclusion formulation about expediency of creation at Department of the finance of the Advisory council which personnel structure includes skilled analysts. Thus it is necessary to have in view of, that the decision on Advisory council creation at Department of the finance of the Government of Moscow as earlier it was already specified, was accepted at session of Council of representatives of the authorised banks at the Mayor of Moscow (the Report № 3 from 14.04.94).

With a view of reduction of expenses of the budget at stages of transfer and redistribution of means in favour of concrete users of budgetary resources there was is recognised necessary a participation of commercial banks in

t the Bulletin of the Mayoralty of Moscow. 1995, № 22.

Process of optimisation of budgetary financing. In particular,

The organisation of direct crediting of expenses of the city budget was provided. The system of direct crediting of the budget should be provided with the financial organisations which could use in case of need own temporarily available assets for short-term crediting of the budget. Thus, as such financial organisations it was supposed to involve banks - agents (the authorised banks of the Government of Moscow) on execution of the budget of of Moscow. Creation of system of direct crediting of the budget meant development and the coordination of uniform procedure of the crediting regulating an order

Grantings of credit resources, including presence of guarantees of a reflexivity and the control over an expenditure of the listed means. Direct crediting was possible to carry out by time replacement of budgetary funds by paper credits with the conditions providing financial interests of a city.

In the Concept the special attention is given the organisation of budgetary information system of Moscow which consists in the following. It was entrusted to department of the finance to establish formats and terms according to which the organisations should give the information on a condition of budgetary resources. The basic suppliers of the information on a condition of budgetary accounts the authorised banks of the Government of Moscow, being banks-agents on execution of the budget of of Moscow, and Municipal bank admitted. Besides, with a view of optimisation of management by budgetary funds the Department of the finance was recommended to carry out processing of the received information. The corresponding information went to financial bodies of the city authorities and to the main managers of credits of the budget of Moscow.

It is especially remarkable, that in the Concept the conciliatory proposal on distribution of functions on service of municipal budgetary and off-budget accounts between the authorised banks (banks - agents) and Municipal bank is fixed. Thus in item 5.2. Concepts the maintenance of concepts «the authorised bank of the Government of Moscow» and «municipal bank» was specified. As to the first concept its definition corresponds to the definition given earlier in the Governmental order of Moscow from 01.06.93 № 525 «About the work organisation on interaction of the authorised banks with the Government of Moscow». And municipal bank the bank admitted, the share of the municipal property in which authorised capital constitutes not less than 51 %, operating on the basis of the General agreement with the Government of Moscow. In item 5.4. Concepts it is underlined, that the Moscow municipal bank - Bank of Moscow «is guided, first of all, by service of accounts on attraction of budgetary and off-budget resources».

Placing of account budgetary accounts (groups of accounts) in the authorised banks of the Government of Moscow is provided to make on the basis of Position about competitions. Main principles of competition had been recognised the following:

• accounts, as a rule, take places the groups generated by Department of the finance of of Moscow and the main managers of credits to a branch or territorial sign;

• for each account (group of accounts) individual conditions of service, in particular, maintenance from bank of electronic document circulation, free collector services, granting of the operative information under certain regulations about made operations, performance of control functions under the set regulations, obligations on crediting of budgetary accounts for certain conditions, requirements on territorial placing of branches and other operational divisions of bank, other conditions are defined; competition conditions should be finished to all authorised banks of the Government of Moscow;

• the maximum reduction of terms of passage of payments;

• maximum "transparency" of accounts;

• the maximum protection against inflationary processes.

r At carrying out of competitions it was recommended to consider the complex

Economic benefit (time of passage of payments, degree of the control over use of means, possibilities of crediting and charge of percent on the rests). The instructions on necessity to provide equality of conditions of participation of the authorised banks of the Government of Moscow in competition are remarkable. The matter is that the formulation of the given position allows to assume, that other conditions (presumably more favourable) can be given the Moscow municipal bank.

In the Concept text the certificate on creation in Moscow the corresponding controls providing interaction of the Government of Moscow with authorised banks and Municipal bank contains. The basic directions of activity of the given bodies are:

* • realisation of the constant control over a condition of the bank

Spheres, development of recommendations to the Mayor and the Government of Moscow on protection of financial interests of the Government of Moscow in crisis conditions;

• working out on the basis of the given Concept of concrete programs and actions for realisation of the Concept and the control over its performance;

• the organisation of competitions;

• regular monitoring of a financial condition of the authorised banks and Municipal bank and consideration of demands of banks about

• their inclusion in number of the authorised banks of the Government

Москвы90;

4 (1 To execute the Order of the Mayor of Moscow from OM 1.95 № 584-RM «About the Concept of management means of the budget of of Moscow and interaction with bank system of a city» the Order of the Mayor of Moscow № 86-RM had been approved from 23.02.96 «the Program of realisation of the Concept of management by means of the budget of of Moscow». In the program, in particular, it is underlined about carrying out by Advisory council

• coordination of activity of the authorised banks concerning financial, economic and organizational interaction in various spheres of city interests of Moscow;

• assistance financially - to credit maintenance of structural reorganisation of economy;

• consideration of questions on participation of the authorised banks as investors in realisation of city investment programs;

• development of recommendations concerning organizational economic maintenance of conditions of functioning of the authorised banks;

• coordination of offers of sponsorship and charities under separate social and cultural actions of a city;

• the decision of all other questions, of interest mutual cooperation of the Government of Moscow and the authorised banks.

In the Concept separate пункт91 it is completely devoted a question on a legal status of the authorised banks of the Government of Moscow and is called «Banks - agents (the authorised banks) the Governments of Moscow». It is obvious, that application of such reception of legal technics as structural isolation testifies to the special importance of adjustable legal relations.

According to positions of the given structural element of the Concept, the bank status - the agent (the authorised bank) is given under the decision of the Government of Moscow after signing of typical contracts, [44 [45] banks regulating interaction and bodies of the city executive authority.

At a choice of banks - agents (the authorised banks) the Government of Moscow estimates candidates from the point of view of reliability of bank, presence of qualified personnel, an operational experience with accounts of the budgetary organisations, participations in programs of city development and ability to provide information of support of budgetary process.

Paramount duties of the authorised banks, according to the Concept, are:

1) realisation of conducting branch systems of municipal budgetary and off-budget accounts of the budgetary organisations, and also introduction of the most convenient forms of settlement-cash service of municipal authorities and the organisations, in particular:

• service automation;

• the accelerated granting of bank extracts;

• service on legal address;

• collection of money resources of the budgetary organisations.

2) realisation of settlement-cash service of accounts on execution of the budget of of Moscow, budgetary and off-budget accounts of municipal authorities and the organisations according to Order of settlement-cash service by commercial banks of the core and filial accounts of the budget of of Moscow, budgetary and off-budget accounts of municipal authorities and the organisations, provided in the appendix to the Order of the Mayor of Moscow from February, 22nd, 1994 № 78-RM.

3) product of monthly charge of percent on the daily rest of money resources on settlement accounts of municipal authorities, the enterprises and the organisations according to the typical contract is settlement - cash service of the account on execution of the budget of of Moscow (or accounts of the manager of credits).

4) realisation on the basis of offers of the Government of Moscow of crediting of the enterprises and the organisations, and also the actions which are carried out within the limits of target programs of development on of Moscow.

5) regular representation in Department of the finance of the Government of Moscow (financial bodies subordinated to it) the fiscal accounting in the established volumes and formats.

6) participation in working out, operation and perfection of settlement system of Moscow

7) presence technical programmno - hardware, qualified personnel, access to telecommunications, sufficient for realisation of operative granting and information reception in the adjusted formats on channels is information - settlement system.

8) carrying out of the expert analysis of transport networks (different technological level) data transmission within the limits of of Moscow.

Certain interest represents Concept position about the organisation of budgetary information system on base informatsionnodilingovoj to Joint-Stock Company network «Interbank financial house». At the same time, it is impossible to recognise the given position as a short story since it has already been earlier fixed in other legal acts [46].

In the Concept possibility of use traditional for the western countries, but more not enough the tool of a covering of budgetary deficiency developed in Russia - issues of municipal promissory notes (municipal securities) is specified. So, for example, it was specified, that the authorised bank can participate in working out of parametres and conditions of release of municipal securities, to carry out functions on their distribution on a commission basis, to carry out their guaranteed repayment at the emitter under the adjusted price, and also to render

Consulting services in questions of formation of portfolios of securities.

Besides other, with a view of strengthening of the control of Department of the finance behind bank service of budgetary and off-budget accounts of of Moscow formation of the register of budgetary and off-budget accounts is provided. One of prime directions of streamlining of functioning of the bank accounts belonging to the municipal enterprises, establishments and the organisations, - transfer of budgetary and off-budget accounts from the banks which do not have contractual relations with such clients, in the authorised banks of the Government of Moscow.

In this connection we will remind, that at orders of the Mayor of Moscow from 05.01.95 № I-PM «About prime measures on creation of the Moscow municipal bank» and from 04.05.95 № 228-RM «About preparation of the concept of service of budgetary and off-budget accounts of of Moscow, and also interaction of the Government of Moscow with the authorised banks» actions for transfer of service of all budgetary and off-budget accounts of of Moscow from the authorised banks of the Government of Moscow in the Moscow municipal bank were provided. Thus, it is necessary to recognise, that at the statement of the considered Concept, realisation of the given actions has been recognised by irrational. The given circumstance testifies to an appreciation of administration of the Moscow given to activity of authorised banks of the Government of Moscow.

To execute positions vysherassmotrennoj Concepts the Order of the Mayor of Moscow from 19.01.96 № 25-RM «About an order of formation of the Uniform register of budgetary, off-budget and self-supporting accounts of establishments, the enterprises and the organisations of of Moscow» has been let out. As a result in Moscow the register system of the account and functioning of budgetary, off-budget and self-supporting accounts of establishments has been entered,

The bulletin of the Mayoralty of Moscow. 1996, № 2.

95

The enterprise and the organisation, subordinated to municipal government bodies, prefectures and municipal managements. Thus the Uniform register of accounts of establishments, the enterprises and the organisations has been structured in the form of three sections:

• the register of budgetary accounts;

• the register of off-budget accounts;

• the register of self-supporting accounts.

The uniform register of accounts became essential addition to the mechanism of settlement-cash service operating in Moscow commercial banks. C its help the Department of the finance and the Moscow regional analytical centre had an opportunity an effective control behind movement of means under budgetary accounts. In the long term the register was planned to be used also by the basic distributors of credits under the budget of Moscow (departments, committees, prefectures of administrative districts) which could have access to the full information on accounts on which the allocated means accumulate. Working out and register realisation was spent by the Interbank financial house in cooperation with Department of the finance of the Government of Moscow. Besides, the fact of creation on the basis of the advanced telecommunication technologies programmno was on hand established

Technological complex of the register possessing modern protection frames of the information from not authorised access (the mechanism is certificated Federal agency for government communication and information), and also the convenient interface.

Concerning formation of the Uniform register also the Order of the assistant to the Prime minister of the Government of Moscow from 21.03.96 № 316-RZP «About the Position statement about the Uniform register of budgetary, off-budget and self-supporting accounts of establishments, the enterprises and the organisations of of Moscow» 94 later was accepted. According to Position, Department of the finance

The governments of Moscow are led by the Uniform register of budgetary, off-budget and self-supporting accounts of establishments, the enterprises and the organisations, carries out data recording of accounts, and also is the holder of the Uniform register. Among users of the Uniform register the authorised banks (banks - agents) the Governments of Moscow which are carrying out settlement-cash service of budgetary, off-budget and self-supporting accounts of establishments, the enterprises and the organisations of of Moscow »[47] were considered, in particular,«. Besides the authorised banks of the Government of Moscow this number included the main managers of credits under the budget of of Moscow (departments, committees, central administrative boards of branch controls, prefects of administrative districts), financial enforcement authorities of Moscow and the State tax inspection on to Moscow, and also the Moscow regional analytical centre.

The sign phenomenon specifying in a positive estimation of authorities of Moscow of the interaction with authorised banks, the edition of the Governmental order of Moscow from 30.01.96 № 96 «About measures on the further perfection of interaction between the Government of Moscow and bank system of a city» [48] is. The given legal act admitted, that in a city there was a system of commercial banks (the authorised banks of the Government of Moscow) which as a whole provides normal functioning of market economy and is social - economic development of municipal economy. It was besides, testified, that activity of the authorised banks of the Government of Moscow has allowed to improve settlement-cash service of the enterprises and the organisations of a city, municipal economy services, to provide the best safety of budgetary funds and their more effective use in the conditions of crisis displays in economy, inflationary processes. Thus, the fact was established

Increases of volume of investments of commercial banks in development of municipal economy of Moscow, target programs and increase in deduction of means of banks at the charitable purposes. At the same time, that possibilities of mutually advantageous cooperation of commercial banks of of Moscow with city administration are not used to the full was noticed. Thereof in the considered legal act of the Government of Moscow it has been enacted:

1) to Recommend to Council of representatives of the authorised banks to form on public principles working groups in directions:

• investments into city projects;

• settlement-cash service;

• the stock market;

• bank technologies;

• safety of banks.

2) to Recommend to Council of representatives of the authorised banks to consider following the results of work of the authorised banks questions on their rotation taking into account change of a financial condition, the contribution to development of city projects and programs, qualities of service of budgetary accounts.

3) the Choice of the credit organisations on which accounts budgetary funds of the city organisations will take places to carry out on a competitive basis.

It is possible to recognise as a traditional direction of activity of the authorised banks of the Government of Moscow their participation in realisation of a housing policy in Moscow.

The governmental order of Moscow from 05.03.96 № 201 «About target memory housing contributions and housing construction crediting» 97 establishes an order and conditions of financing of housing construction by inhabitants of Moscow at the expense of own means and the soft loans which are given out by authorised banks of the Government of Moscow.

The authorised bank operates on the basis of the contract specially concluded with the Government of Moscow.

Within the limits of the specified activity in the authorised banks of the Government of Moscow target memory housing contributions have been opened. Opening of the given accounts was carried out with a view of granting of additional possibilities to the citizens constantly registered (registered) in to Moscow, in the decision of housing problems, attraction of means of the population on housing construction and their savings from inflation.

Conditions and an order of accumulation of money resources and granting of the credits used on the housing purposes, the rights and duties of the parties were defined by the savings housing contract and the credit contract. The specified contract and the contract consisted between the investor and establishment of the authorised bank of the Government of Moscow.

The government of Moscow and board of Department of building in the Decision from 18.04.96 № 337-10 «About results of work of a complex of perspective development of a city for I quarter t.g. And problems on H quarter 1996» have noted increase in I quarter 1996 of rates of realisation of housing construction and building of objects of branches the city

Infrastructures. At the same time, a number of the negative moments reducing as a whole efficiency of activity of a building complex has been specified:

• it was not possible to solve in full questions of financial maintenance of the investment program;

• despite the taken measures, the building program remains unbalanced with financial resources;

• it is not given due attention to development of the hypothecary

Crediting and the bill reference, to wide use

, 7 Bulletin of the Mayoralty of Moscow. 1996, № 8.

Help legal system "ConsultantPlus" (information base "MoskvaProf"),

The tax mechanism as to additional tools of regulation of investment activity in city territory.

Owing to the developed situation instructions on preparation of offers on creation of a pool from the authorised banks of the Government of Moscow for the organisation of preferential crediting and financing of housing construction at the expense of attraction of means of the population as bases of hypothecary system have been given.

Search of additional forms of off-budget financing of housing construction, protection against inflation of savings of the citizens directed on building of habitation, expansion of possibilities of acquisition of habitation by the population was, as already earlier it was marked, has led to decision-making on release in 1995-1996 of the Moscow housing bonded loan (MZHOZ) 99. The first release of bonds MZHOZ has allowed to fulfil the basic mechanisms of use of housing bonds as one of forms of attraction of means of the population and legal bodies for habitation building, but at the same time has found out a number of problems and lacks. Subsequently the Decision the Government of Moscow from 19.09.95 № 790 «About preparation of the second and third releases of bonds of the Moscow state housing bonded loan (MGZHOZ)» was accepted. Departments of the Government of Moscow together with AB "Inkombank" (General manager MGZHOZ) with attraction of some consulting firms have spent the work directed on perfection of the concept and a design of a loan, reorganisation of its organizational structure, increase of appeal of bonds, expansion of a circle of potential investors, creation of new model of realisation of municipal habitation by a memory principle with use of the mechanism of a bonded loan and measures of the state support

Owners of bonds. Lacks of the first release of bonds MZHOZ have been thus considered and eliminated.

In the Governmental order of Moscow from 04.06.96 № 466 «About the second release of bonds of the Moscow state housing bonded loan» 100 the positive estimation is given the done work on preparation of project MGZHOZ. The government of Moscow, taking into consideration an urgency of the decision of problems of a housing policy of a city, in the specified certificate has enacted, in particular, to recommend to the General manager to generate the Moscow bonded syndicate. It was provided to include the authorised banks of the Government of Moscow, and also other banks and the investment companies having the licences for carrying out of operations on a securities market in structure of the given syndicate. In a consequence it has been established, that participants of the Moscow bonded syndicate are «the legal bodies professional participants of a securities market providing on the basis of contracts with the General manager primary placing of bonds МГЖОЗ-2, entering into Association of financial and investment institutes not having independent legal persons» 101.

As a result of spent city administration of a policy on the organisation of interaction with the authorised banks

The governments of Moscow the quantity of precedents of opening in last budgetary and off-budget accounts steadily grew. Confirming to the declared thesis we will result some facts.

The order of the Prime minister of the Government of Moscow from 05.06.96 № 504-RP «About Position about an order of formation and use of fund of food resources of the Government of Moscow and positions about work of the Credit commission of the Government of Moscow on questions

The bulletin of the Mayoralty of Moscow. 1996, № 14.

1 (11 Items 2.5. Appendices № 2 to the Governmental order of Moscow from 04.06.96 № 466.

Food maintenance »[49] Position about an order of formation and use of Fund of food resources of the Government of Moscow» is approved and installed «. The specified Fund represents a part of means of the budget of the city, intended for purchases of the foodstuffs for Moscow and accumulated on special budgetary accounts. The given accounts open Department of food resources in the authorised banks of the Government of Moscow. In the same banks in coordination with Department of food resources open current budgetary accounts and legal which means from Fund are allocated. In Position it is established, that corresponding legal bodies should receive the consent of bank to acceptance of means and maintenance of the control over their target use and timely repayment, and also originals of guarantees of banks. Feature consists that the consent and guarantees should give out that authorised bank of the Government of Moscow in which the budgetary account of the given persons is opened.

According to the Order of the Prime minister of the Government of Moscow from

12.08.96 № 726-RP «About pharmacy committee» [50] in the authorised banks of the Government of Moscow were open accounts of Committee of pharmacy of the Government of Moscow.

Means of target off-budget territorial road fund of a city of Moscow, according to the Decision of the Moscow municipal duma from

27.11.96 № 101 «About Position about an order of formation and use of means of Target off-budget territorial road fund of a city of Moscow» [51], took places on the special account also in the authorised banks of the Government of Moscow. Thus for each profitable source the separate subaccount opened.

In connection with the statement of new structure of Management it is national - an economic complex of a city, and also with a view of streamlining of use of means from the city sources directed on housing construction, the Order of the Mayor of Moscow has been published from

31.12.96 № 658/1-РМ «About streamlining of use of means from the city sources directed on housing construction» [52]. It was offered to management of off-budget planning of development of a city to open in coordination with Department of the finance special accounts in one of the authorised banks of the Government of Moscow and to conclude the contract on settlement-cash service. As the purpose of performance of the given actions served accumulation of the means listed in target budgetary fund of financing of municipal habitation and directed on repayment of creditor debts on off-budget zhilishchnoinvestitsionnomu to fund, formed till January, 1st, 1997.

Management of budgetary planning of the city order of a complex of social sphere, in turn, also was obliged to open the special budgetary account in one of the authorised banks of the Government of Moscow and to conclude the contract on settlement-cash service. Thus Management should spend coordination with Department of the finance.

The order of the Mayor of Moscow № 71-PM [53 [54] had been approved from 27.01.97 «Position about Committee of public health services of Moscow». In the given position, as well as in positions about a number of other structural divisions of administration of Moscow, it is noticed, that the Committee has flowing, budgetary and other accounts in the authorised banks of the Government of Moscow.

Pursuing the aims of practical realisation of the mechanism of insurance protection of habitation in the Governmental order of Moscow from 04.02.97 № 61 «About realisation of system of insurance protection of habitation» realisation of certain measures has been provided. Owing to it position according to which the corresponding insurance organisations were obliged to accumulate the free reserves in the authorised banks of the Government of Moscow has been established. The reserves generated at the expense of means of managements of the uniform customer and the housing enterprises of Management of the city order of a complex of municipal economy for payment of insurance premium payments Meant. Accumulation of the given reserves was made with a view of use at preferential crediting of the enterprises and the organisations of a complex of municipal economy in coordination with the head of a complex.

Legal regulation development testifies to constant and active working out of new mutually advantageous directions of cooperation of the authorised banks of the Government of Moscow with authorities of Moscow. Thereof socially - economic maintenance of considered relations was enriched. As an example inclusion in a subject of activity of the authorised banks of the Government of Moscow of the relations put within the limits of realisation politicians on development of tourism in capital can serve.

Tourist business has been recognised by the Government of Moscow as one of priority branches of city economy. It has caused occurrence of special attention of the capital administration, directed on financial maintenance and service of a hotel-tourist complex (State Customs Committee) of of Moscow. Absence of the system approach in the given question did not allow to carry out, on the one hand, necessary monitoring of financial streams in the State Customs Committee that led to insufficient reception of city budgetary receipts, and on the other hand, to provide the maximum profitableness of the enterprises of the given branch. With a view of the decision of the given problems by the Order of the Mayor of Moscow from 10.12.96 № 585/1 - PM «About creation of the Moscow discount system» 108 it has been approved

IOS

The bulletin of the Mayoralty of Moscow. 1997, № 6.

«The concept of perfection of financial service and maintenance of the State Customs Committee of of Moscow».

The concept represented the organizational scheme of branch construction of financial activity on maintenance and service of the State Customs Committee of of Moscow. The specified scheme of construction of financial activity was based on contractual relations between the financial institutions serving the State Customs Committee, the enterprises of the State Customs Committee and corresponding state bodies of of Moscow. The scheme orientirovanna on mutual interest of the parties in development of hotel-tourist business.

In the Concept the special attention is given questions of interaction of the State Customs Committee with the authorised banks of the Government of Moscow. With a view of attraction of additional investments into the State Customs Committee creation by the authorised banks together with GAO "Moscow" financially - information centre (FITS) the State Customs Committee of of Moscow is provided. It has been established, that FITS it is formed in one of the authorised banks on the basis of the interbank agreement and will provide the account and monitoring of financial streams in the State Customs Committee. The authorised banks will transfer in FITS the financial information on the State Customs Committee enterprises. The authorised bank which is the basic holder of accounts of Fund of development of tourism "Moscow", was obliged to create the uniform clearing centre for maintenance vzaimoraschetov the State Customs Committee enterprises. "Moscow" was recommended to the State Customs Committee enterprises together with GAO and in coordination with a management of the authorised banks to develop uniform conditions and standards of service of the enterprises of the State Customs Committee all banks. Dogovory the corresponding parties should be renewed periodically in process of change of rates of refinancing of the Central Bank of the Russian Federation and other parametres of the financial market.

In the organisation of interaction of the authorised banks of the Government of Moscow with city administration the special role was taken away to Department of the finance that has been confirmed

The maintenance of new edition of Position about Department of the finance of of Moscow approved by the Order of the Mayor of Moscow from 06.03.97 № 189-RM109. By new edition of Position it was established, that realisation of a uniform financial policy of the Government of Moscow provides formation of system of the authorised banks of the Government of Moscow, and also realisation of supervision over a financial condition of the given banks. Besides, it is necessary to have in view of, that earlier mentioned Advisory council has been formed at Department of the finance. Positions of other legal acts testify to detailed elaboration of powers of Department of the finance in the field of interaction of city administration with the authorised banks of the Government of Moscow.

Thereupon we will consider some positions of the Order of the organisation of competitions on purchase of agricultural production, raw materials and the foodstuffs for city needs at the expense of the budgetary funds, the Prime minister of the Government of Moscow approved by the Order from 24.07.97 № 808-RP110. The given legal act has been published with a view of maintenance of an effective expenditure of budgetary funds, and also bar of claim by lapse of time of abusings by civil servants by the position at the organisation of purchases of agricultural production, raw materials and the foodstuffs for city needs. In the mentioned Order to the authorised banks of the Government of Moscow the functions consisting in the following were taken away:

• in the given banks the budgetary funds intended for realisation of corresponding purchases took places;

• in one of the authorised banks the special budgetary account of Department of the finance opened. The means intended for replenishment of fund were in this respect listed

11,4 Bulletin of the Mayoralty of Moscow. 1997, № 12.

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Food resources of the Government of Moscow within the of Moscow of assignments approved by the budget;

• from the authorised banks bank guarantees of maintenance of execution of obligations of borrowers were accepted.

At the same time the Department of the finance was entrusted to solve the questions connected with the organisation of a payment turn, definition of a mode of service of budgetary accounts, and also attraction of off-budget means.

With a view of the organisation of process of formation and an expenditure of means of off-budget housing-investment fund of a city of Moscow the Decision of the Moscow municipal duma № 39 had been approved from 11.06.97 «Position about off-budget housing-investment fund of a city of Moscow» 1! 1. The off-budget housing-investment fund of a city of Moscow was formed with a view of financing of city housing programmes. In Position opening in the authorised bank of the Government of Moscow is offered at the coordination with Department of the finance of the Government of Moscow of the special account on which Fund means should accumulate and be considered.

The order of the Mayor of Moscow № 643-RM had been approved from 20.08.97 «Position about the Center of Medical inspection of Committee of public health services of Moscow» [55 [56] with a view of strengthening of the state control over activity of the subjects rendering medical aid in Moscow. Position provides opening in the authorised banks of the Government of Moscow settlement and other accounts of Medical inspection.

The governmental order of Moscow № 652 had been approved from 26.08.97 the project of the Decision of the Moscow municipal duma "About off-budget Fund of fire safety of a city of Moscow". In the given document it was defined, that off-budget Fund of fire safety of a city

Moscow represents the sum of the means accumulated on the special bank account in one of authorised banks of the Government of Moscow. Thus the Department of the finance was allocated with functions of the manager of corresponding means.

In respect of work of the Government of Moscow for IV quarter 1997, approved by the Order of the Prime minister of the Government of Moscow from

30.09.97 № 1070-RP114, it was provided to finish «works on creation of uniform system of interaction of the Government of Moscow with credit-bank system of a city». In number of the persons involved in performance of specified works, Council of representatives of the authorised banks has been included. Stated allows to judge a recognition administration of a city of a positive role of Council of representatives of the authorised banks in the course of satisfaction of city needs, and also about intention to carry out transition to a new stage of development of activity of the authorised banks of the Government of Moscow.

Within the limits of the measures undertaken by the Government of Moscow for financial maintenance it is social - economic development of areas, realisation of functions and powers of regional justices, and also the further streamlining of practice of formation and use of means of financial resources of areas by the Governmental order of Moscow from 20.01.98 № 46 the bill of a city of Moscow «About area financial resources in the city of Moscow» 115 has been approved. In the given document area financial resources are considered as the property of a city of Moscow which is in an operational administration of the Justice. Proceeding from it, it turns out, that all financial resources of municipal bodies of Moscow are a state ownership of the subject of the Russian Federation. At the same time it is necessary to recognise, that the given norms conflict to the constitutional bases of local government and Federal

The law from 25.09.97 № 126-FZ «About financial bases of the local

Self-management in the Russian Federation »[57].

However in connection with subjects of carried out research us the position containing in article 7 of the considered document interests. With a view of execution of the budgetary estimate the head of the Justice is offered to open the special current budgetary account in the authorised bank of the Government of Moscow or in Bank of Moscow.

In socially significant purposes the Government of Moscow used also advisory-expert potential of the authorised banks. In it specifies the Order of the First assistant to the Prime minister of the Government of Moscow from 19.02.98 № 135-RZP «About measures on strengthening of the control over realisation of competitive placing of objects of the city order and use of means for building financing» [58] in which of city sources it is offered to Management of an investment policy and financing to co-operate with Mosstrojekonombankom, being authorised bank of the Government of Moscow. A problem of attraction of the given bank was carrying out of stock-taking and completeness of the documents necessary for the conclusion of contracts, and also checks of correctness of an expenditure by the organisations - customers of money resources.

The decision of the Moscow municipal duma № 54 accepts from 03.06.98 «the Report on activity kontrolno - schetnoj chambers of Moscow for 1997». Pertinently within the limits of our research because Kontrolno-schetnaja the chamber carried out consideration of the given certificate ekspertno - analytical works concerning the organisation of interaction of the Government of Moscow with the authorised banks, and also perfection of settlement-cash service of the budget of Moscow. According to the report, with 1995 for 1997 there was some

Uncertainty of legal regulation of settlement-cash service of accounts on budget execution. The developed situation has entailed loss due to the budget of a city of Moscow of a part of the percent charged on srednednevnomu to the rest on accounts. In the Report the special attention is given to the following recommendations addressed to Department of the finance:

• with a view of increase of efficiency of use of budgetary funds regularly to carry out examination of financial indicators of the credit organisations, not only applying to be a part of the authorised banks of the Government of Moscow, but also already included in this structure;

• to execute the Governmental order of Moscow from 27.05.97 № 387 «About supplementary measures on strengthening of discipline of execution of the city budget following the results of kontrolno analytical work kontrolno - schetnoj chambers of Moscow in 1996» to cease practice of opening by managers of credits of accounts in the credit organisations which are not authorised banks of the Government of Moscow, even in the presence of the written petition of the higher organisation.

Considering legal regulation of activity of the authorised banks of the Government of Moscow it is necessary to consider uniqueness of position of Council of representatives of representatives at the Mayor of Moscow. Uniqueness consists that the given body protects commercial interests of the corresponding credit organisations, but at the same time pursues the aims of social character. So, for example, Council it was offered to involve the authorised banks of the Government at rendering of the financial help to realisation of building of houses for military men of 205 brigades under Budyonnovsk. Accepting the given offer, the Mayor of Moscow has published the Order from 25.06.98 № 623-RM «About continuation of financing by banks of building of houses for

Military men under Budyonnovsk »" 9 in which rendering of financial support at the expense of additional charge by the authorised banks of the Government of Moscow of percent on the rests on accounts of municipal authorities has been provided, the enterprises and the organisations of of Moscow. Thus the duty was assigned to Department of the finance to carry out the control over execution by the authorised banks of settlement-cash service of accounts of municipal economy.

As the basic direction of activity of the authorised banks of the Government of Moscow follows from earlier stated legal statuses consisted in service of budgetary and off-budget accounts. Other facts dated within the limits of the considered period testify to it also. We will result some of them.

The appendix to the Order of the Prime minister of the Government of Moscow from

26.06.98 № 687-RP «About allocation of budgetary funds on purchase of technics and introduction of new technologies in vegerable-growing economy of the Moscow area on leasing conditions» 120 represents «Position about use of budgetary funds of of Moscow directed for support selhozproizvoditelej to the Moscow area on the terms of leasing». According to the given Position leasing means are the budgetary funds directed for support selhozproizvoditelej to the Moscow area. The given means are in management at the leasing companies and take places on accounts in the authorised bank of the Government of Moscow. The leasing company from the accounts in the authorised bank makes payments to suppliers. On the specified accounts the leasing company the means received from gathering of leasing payments and a rent accumulate. Besides, the authorised banks of the Government of Moscow are entered into a circle of persons, carrying out the control over target use of leasing means. [59]

The order of the Mayor of Moscow from 29.06.98 № 696-RP «About modification of the Order of the Prime minister of the Government of Moscow from July, 24th, 1997 № 808-RP» had been introduced essential corrective amendments in legal regulation of realisation of purchases of agricultural production, raw materials and the foodstuffs for city needs at the expense of budgetary funds. The rule of law according to which suppliers of the specified goods placed the budgetary funds given by it under the contract of a target loan, in the authorised banks of the Government of Moscow at the same time has held good.

According to the Governmental order of Moscow from 31.03.98 № 256 «About granting to inhabitants of of Moscow, requiring improvement of living conditions, gratuitous grants for building or habitation acquisition» Position about an order and conditions of carrying out of competition on selection of bank for placing of the nominal blocked target accounts of citizens »122 has been approved«. Position defines an order of the organisation of carrying out of competitive selection, and also a condition and criteria of selection of bank for placing and service of the nominal blocked target accounts of citizens on which the allocated grants are listed. The norm of item 1.3 is remarkable. Positions according to which competition is spent only among the authorised banks of the Government of Moscow and Bank of Moscow. It is the trust certificate to activity of the authorised banks of the Government of Moscow from city administration.

According to the Order of the Mayor of Moscow from 23.11.98 № 1185-RM «About official body transformation" the Center of quality assurance of medicines of of Moscow "in official body" the Center of certification and

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122 Order of the Prime minister of the Government of Moscow from 20.08.98 № 929-RP_ «About the Position statement about an order and conditions of carrying out of the closed competition on selection of bank for placing of the nominal blocked target accounts of citizens»//Help legal system "ConsultantPlus" (information base "MoskvaProf"),

Quality assurance of medicines of of Moscow "» 123 accounts of the Center of certification and quality assurance of medicines of of Moscow open also in the authorised banks the Government of Moscow.

In Moscow the policy on re-structuring in building branch of a city with a view of its preservation and development as uniform complex was spent. For this reason conditions for carrying out sanatsionnyh measures on prevention of insolvency, procedures of liquidation and bankruptcy of the inefficient and unprofitable branch organisations were created. According to the legislation of the Russian Federation, for maintenance of activity of arbitration managing directors creation of the specialised account is necessary. Thereupon the Order of the Prime minister of the Government of Moscow from

30.12.98 № 1474-RP «About supplementary measures on maintenance of financial improvement of the enterprises of a building complex of a city» Position about the specialised account of building branch and an order of its use »[60] has been approved«. The specialised account of building branch in Position point 1.2 has been defined as the settlement bank account opened by Management of the investment policy and financing from city sources in «the authorised credit organisation». Further, namely in the Position point 2.1, the given credit organisation is called «the Moscow authorised by the Government as the credit organisation». The Order analysis leads us to an unequivocal conclusion that are available in view of «the authorised banks of the Government of Moscow». The conceptual discrepancy admitted in the considered certificate is caused by that at a designation of corresponding banks not strictly formalized approach was used, and substantial. The substantial approach, in this case, allows to generalise theoretically the authorised banks of the Government of Moscow with other credit organisations co-operating with bodies

The government or local government in the similar organisation-legal form. Differently, concepts «the authorised bank of the Government of Moscow» and «the authorised credit organisation» correspond as private and the general. The difference between the maintenance of the given concepts consists in degree of theoretical generalisation of certain set of elements of bank system of the Russian Federation.

In connection with Committee reorganisation фармации125, and also with a view of perfection of management by branch of public health services by the Order of the Mayor of Moscow from 26.02.99 № 153-RM Position about Committee of public health services of Moscow »has been approved«. According to Position the authorised banks of the Government of Moscow served current budgetary and other accounts of Committee.

The order of the Prime minister of the Government of Moscow № 228-RP approves from 22.03.99 «Conditions of participation of the insurance organisations in system of insurance of habitation» ". For us the given certificate is remarkable that its norms establish a duty of the insurance organisations participating in system of insurance of premises, to place the insurance reserves generated at the expense of payments, arrived under contracts of insurance of premises, in the authorised banks of the Government of Moscow.

The governmental orders of the Russian Federation from 05.02.99 № 130 «About deliveries and an order of realisation of agricultural production and the articles of food arriving in the first half of the year 1999 according to agreements with the Government of the United States of America and the European union» and from 15.03.99 № 287 «About additional deliveries and an order of realisation of agricultural production and the articles of food arriving in the first half of the year 1999 according to additional agreements, concluded between

l2's The Order of the Mayor of Moscow from 18.05.98 № 484-RM «About reorganisation of Committee of pharmacy by joining to public health services Committee»//the Bulletin of the Mayoralty of Moscow. 1998, № 18.

12,1 Bulletin of the Mayoralty of Moscow. 1999, № 6.

127 Bulletin of the Mayoralty of Moscow. 1999, № 8.

1-8 Meeting of the legislation of the Russian Federation. 1999, № 7, item 914.

The government of the Russian Federation and the Government of the United States of America »on the terms of the commodity credit provide import to Moscow grains, rice, meat of beef and a bird, dried milk. On the given questions the Order of the Mayor of Moscow from 23.04.99 № 406-RM« About realisation of the Governmental orders of the Russian Federation from February, 5th, 1999 № 130 and from March, 15th, 1999 № 287 »130 has been published. With a view of maintenance of timely calculation for the foodstuffs received on import by the specified certificate was recommended to corresponding enterprises to present the Department of food resources the guarantee of the authorised banks of the Government of Moscow or the lien. By this norm it is once again shown, that capital authorities estimate interaction with the authorised banks of the Government of Moscow as one of conditions of stable satisfaction of city interests.

In the Governmental order of Moscow from 17.08.99 № 770 «About measures on the further realisation of the civil-engineering design of a building of the Moscow theatre" School of drama art "in possession 27/19 on Last lane (the Central administrative district)» it is offered to accumulate the means involved for corresponding building, on opened by Management of budgetary planning of the city order the account in the authorised bank of the Government of Moscow.

With a view of an establishment of uniform conditions of using budgetary funds the Order of the First assistant to the Prime minister of the Government of Moscow from 04.11.99 № 895-RZP approve «the Approximate contract on financing at the expense of means of the budget of a city of Moscow of expenses for the indemnification from operation of the available housing which is in management of association of proprietors of habitation» '. In the Approximate contract it is provided, that the association of proprietors of habitation is obliged to open

129 Meeting of the legislation of the Russian Federation. 1999, № 12, item 1487.

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121 Help legal system "ConsultantPlus" (information base "MoskvaProf").

The account for transfer of corresponding assignments in the authorised bank of the Government of Moscow.

Let's especially note two events, defined features of development of legal regulation of activity of the authorised banks of the Government of Moscow at a stage since 1995 on the end of 1999, namely:

• creation in 1995 of joint-stock company «the Moscow municipal bank - Bank of Moscow», having basic value for the further development of relations between the Government of Moscow and the authorised banks;

• the crisis which has occurred in 1998 of the market of the state promissory notes, entailed bankruptcy of many credit organisations, in particular, such known authorised banks of the Government of Moscow, as "Menatep", "SBS-AGRO", «the Russian credit», "Bridge-bank", "Promradtekhbank".

The given events have entailed application of ambiguous measures by administration of Moscow on competence distribution between the authorised banks of the Government of Moscow and Bank of Moscow. Thus we will notice, that at times the Bank of Moscow was regarded as one of the authorised banks of the Government of Moscow owing to specificity of some positions of its Charter. At the same time, conditions of activity of the given bank put it in more favourable position in comparison with other authorised banks ".

Besides, the administration of Moscow aspired to finish works on creation of uniform system of interaction of the Government of Moscow with the credit organisations [61 [62] [63]. Council of representatives of the authorised banks has been included In number of the basic participants of performance of the given work.

It specifies in creation of preconditions for approach of a new stage of development of legal regulation of activity of the authorised banks of the Government of Moscow.

In the conclusion, we will state a general characteristic of the maintenance of activity of the authorised banks of the Government of Moscow since 1995 on the end of 1999 With a view of more detailed reflexion of the corresponding facts we will resort to use of certain financially - economic indicators.

One of the basic functions which are carried out by authorised banks in the specified period, was settlement-cash

Service of budgetary and off-budget accounts (including service automation, service on legal address, collection of money resources of the budgetary organisations, introduction of the most convenient forms of settlement-cash service). Some

Realisation quantity indicators are specified by the authorised banks of settlement-cash service of the given accounts in the Table № 1.

The table № 1. Statistical data on settlement-cash

To service by the authorised banks of the Government of Moscow of accounts of budgetary establishments and организаций135.

G odes in which end statistical data are specified 1997 1998 1999
Number of the authorised banks of the Government of Moscow 22 21 15
Number of budgetary establishments and the organisations served by authorised banks of the Government of Moscow 3680 4100 4482

The authorised banks of the Government of Moscow concluded with budgetary establishments and the organisations dogovory settlement-cash service, being guided by the typical contract adjusted with Department of the finance of Moscow. Among treaty obligations of the authorised bank were: the daily settlement-cash service, a full exception of any delays of payments, charge of percent on the rests on accounts. The last represented the mechanism of replenishment of the city budget in a counterbalance to inflation influence. In the table № 2 volumes of payments of corresponding percent in the budget of Moscow are reflected.

The table № 2. Statistical data on payments in the city budget of percent for srednednevnye the rests under the accounts, served by the authorised banks of the Government of Moscow.

Year 1995 1996 1997 1998 1999
The sum of money which has been transferred into by authorised banks the budget of a city as percent (in million denominated roubles) 1 "16. 316,1 240,0 206,9 331,0 337,6

Activity of the authorised banks of the Government of Moscow has led to such positive effects, as minimisation and diversifikatsija the risks connected with settlement-cash service of budgetary streams, achievement convenient for clients (budgetary establishments and the organisations) settlement-cash service, replenishment of the city budget in bank percent for using the rests on budgetary and off-budget accounts, competition development between the credit organisations, serving corresponding accounts. Service by the authorised banks of budgetary streams promoted decrease in time of drawing up, processing and transfer of payment documents, that frequently allowed to avoid freezing of the budgetary funds occurring owing to delays at carrying out of settlement operations. The organisation-legal barrier to monopolisation of service of budgetary accounts at which one bank would serve budgetary funds has been besides, created and had at the expense of it credit resources, not paying for them a market price. The effective control over the financial streams which are passing through budgetary accounts is created.

The system of electronic information interchange which allowed to carry out the operative control over an expenditure of budgetary funds was gradually formed, and also to predict receipt of corresponding incomes. Within the limits of the given direction the sound databank about a condition of accounts of budgetary establishments and the organisations, and also movement of financial streams on these accounts was formed. Presence of the operative and exhaustive information on a condition of budgetary accounts admitted administration of Moscow a necessary condition of efficient control the city budget. The analysis of the given information allowed Department of the finance of the Government of Moscow to make operative decisions on maneuvering by those means which are available at its order, but are sprayed under accounts of public authorities and the subordinated organisations. On the basis of the operative information the authorised banks, in turn, could more accurately and carry out consultation functions purposefully. In structure of participants of system of an electronic exchange of the information joined not only the authorised banks of the Government of Moscow, but also structural divisions of city administration. Gathering of the information on turns and the rests on all budgetary accounts which were led by the authorised banks of the Government of Moscow, were carried out

By means of e-mail in the form defined by Department of the finance of the Government of Moscow.

The authorised banks of the Government of Moscow accepted active participation in financing, crediting of certain city programs, as a rule, housing development programmes. Table indicators testify to it № 3.

The table № 3. Statistical data on crediting and investment volumes the authorised banks of the Government of Moscow of the budgetary organisations and city programs.

Year 1997 1998 1999
Crediting volumes the authorised banks of the Government of Moscow of the budgetary organisations of Moscow and city programs (in the denominated roubles and $). 2,2 mlrd, rbl. and $2,1 million 1,8

mlrd, rbl. and $11,8 million

4,095 mlrd, rbl. and $1,702 million
Volumes of investments of the authorised banks of the Government of Moscow in city investment projects (in the denominated roubles and $) '. 471 million rbl. and more $45.7 million 1,3

mlrd, rbl. and more $72 million

1,39 mlrd, rbl. and $1,1 million

Considerable means have been allocated by the authorised banks for financing of activity of educational institutions of a city, hospitals, boarding schools, children's homes, restoration of monuments of material and spiritual culture, and also with a view of charity. It is possible to judge scales of charity of the authorised banks of the Government of Moscow under the Table maintenance № 4.

The table № 4. Statistical data on the monetary sizes of rendering by the authorised banks of the Government of Moscow of the charitable help.

Year 1997 1998 1999
Total sum rendered in Moscow the authorised banks of the charitable help (in

I 3R

The denominated roubles and $).

298 million

Rbl. and $4,2 million

172,5 million rbl. and $1,5 million 187,54 million rbl.

The following prominent aspect of relations of the authorised banks of the Government of Moscow with city administration consists in the organisation of release and placing of municipal securities. The authorised banks actively co-operated with Moskomimuschestvo and Fund of property of Moscow on investment of means in the enterprises of the consumer market.

The authorised banks participated and in programs of indemnification of interest rates under bank credits. The measures provided in given programs, have been directed on increase in bank crediting of the enterprises located in Moscow. One of programs of indemnification of interest rates is realised in frameworks of a policy of the Government of Moscow on support and development of the small

Businesses. The key standard legal act at realisation of the given program is the Law of a city of Moscow from 28.06.1995 № 14 «About bases of small business in Moscow». In Law article 10 forms of financing of projects on development and support of small business are established. One of the provided forms is full or partial indemnification to the credit organisations

The half-received profit at crediting of subjects of small business under the lowered interest rate. The specified financing appears the Government of Moscow at the expense of means of the city budget. It is caused by that development of small business in Moscow gets the increasing political, social and economic value, promoting increase

Well-beings of Muscovites, to creation of new workplaces, increase in a profitable part of the city budget. Owing to specified the Governmental order of Moscow from 30.12.1997 № 942 «About the complex program of development and support of small business in to Moscow for 1998-2000» which Position about financing of programs and projects of development and support of small business in to Moscow »affirmed« was accepted.

Except the above-stated we will allocate also such directions

Activity of the authorised banks of the Government of Moscow, as:

• placing in fixed deposits of temporarily free budgetary funds;

• consulting and expert service;

• performance as the agent of the Government of Moscow concerning crediting of the enterprises and the organisations of a city, conversion operations, maintenance of the control over target use of the allocated budgetary resources.

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A source: Uzdenov SHamil SHagabanovich. LEGAL REGULATION OF ACTIVITY OF THE AUTHORIZED BANKS OF THE GOVERNMENT Moscow. The dissertation on competition of a scientific degree of the master of laws. Moscow 2004. 2004

More on topic § 2. Development of legal regulation of activity of the authorised banks of the Government of Moscow in the conditions of definition of a legal status of joint-stock company «the Moscow municipal bank - Bank of Moscow» (1995 - the end of 1999).:

  1. § 3. Formation of modern system of legal regulation of activity of the authorised banks of the Government of Moscow (the end 1999 - n. Century).
  2. § 2. Organization-legal aspects of system of interaction of administration of Moscow with the authorised banks of the Government Moscow.
  3. § 1. The General characteristic of legal relations of administration of Moscow with the authorised banks of the Government of Moscow.
  4. § 3. Legal problems and prospects of development of interaction of city administration with the authorised banks of the Government Moscow.
  5. ZINATULIN Lenar Faridovich. LEGAL REGULATION of the ORGANIZATION And ACTIVITY of JOINT-STOCK COMPANIES In the RUSSIAN FEDERATION. The dissertation on competition of a scientific degree of the master of laws. Moscow -, 1999 1999
  6. § 1. Creation of legal bases of activity of the authorised banks of the Government of Moscow (1992 - 1994 of).
  7. CHAPTER 1. HISTORY OF DEVELOPMENT OF LEGAL REGULATION OF ACTIVITY OF THE AUTHORIZED BANKS OF THE GOVERNMENT OF MOSCOW.
  8. Uzdenov SHamil SHagabanovich. LEGAL REGULATION OF ACTIVITY OF THE AUTHORIZED BANKS OF THE GOVERNMENT Moscow. The dissertation on competition of a scientific degree of the master of laws. Moscow 2004, 2004
  9. KUDACHKIN Anton Alekseevich. CORPORATION To the USA And JOINT-STOCK COMPANY In Russia AS SUBJECTS of JOINT-STOCK LEGAL RELATION (rather-LEGAL ANALYSIS). The dissertation on competition of a scientific degree of the master of laws. Moscow -, 2007 2007
  10. METELYOVA JULIA ALEKSANDROVNA. the LEGAL STATUS of the SHAREHOLDER In JOINT-STOCK COMPANY. The DISSERTATION on competition of a scientific degree of the master of laws. Moscow -, 1998 1998
  11. CHAPTER 2. THE LEGAL STATUS OF THE AUTHORIZED BANKS OF THE GOVERNMENT OF MOSCOW.
  12. § 2. Problems of definition of a legal status of the joint-stock companies created in the course of privatisation of the state And municipal property
  13. § 3. Features of a legal status of Bank of Russia as body of state regulation of bank activity.
  14. 3.1.2. The general and special franchise of joint-stock company: legislative and authorised regulation.
  15. § 3. Private n the public beginnings in a legal regulation of activity of executive powers of joint-stock company
  16. PRIESTS ILJA SERGEEVICH. the Legal mechanism of state regulation of bank activity. The DISSERTATION on competition of a scientific degree of the candidate of jurisprudence. Moscow,, 2000 2000
  17. § 1. The Legal status of the Central bank and a legal status of banks in the Russian Federation as participants of currency transactions