Development of the banking system of the Russian Federation, its problems and prospect

This article describes the development of the Russian banking system, modern problems and prospects of its development. It shows the changes in the functioning of the financial sector, since the period of its functioning in the market economy and to the present. Illuminated impact of the crisis on the development of the banking system, as well as the problems faced by the banking system in 2015. The perspective directions of development of the banking sector, which will help it to emerge from the crisis until 2020. For writing the work was used common, (analysis, synthesis, classification, etc.) and practical (observation, comparison, etc.) methods. In the process, information was obtained about the development of the banking system, as well as the complexities of its functioning in the market economy. Analyzed the measures needed for the modernization of the banking sector and improving the competitiveness of the Russian banking sector.