FINANCIAL INSTITUTIONS FINANCIAL SYSTEM SOFTWARE SECURITY UKRAINE

Main Article Content

Z. S. Varnaliy

Abstract

Introduction. In the conditions of weakening of state control over the development of monetary and credit relations, the liberalization of foreign economic relations and the increase of the influence of the political situation on economic processes, the system of ensuring financial security of the state has a special role in the economy of Ukraine. Problems in the field of ensuring financial security do not allow creating conditions for economic growth, have a negative impact on the financial, tax, insurance and the budget process in the country. Therefore, in today's conditions, the issue of ensuring an adequate level of financial security of the state, defining the role in the system of its provision of financial institutions is important.

Purpose. Study of the essence of financial security of Ukraine and determination of the role and importance of financial institutions in the system of ensuring financial security of the state.

Methods. Analysis, synthesis, generalization.

Results. The general problem of all financial regulators in Ukraine is an inadequate level of interaction and coordination with other public authorities, as well as insufficient transparency and openness of information about their activities. Normative acts regulating the functioning of state bodies usually establish a procedure for accountability and subordination to other authorities, as well as the possibility of interaction with them, but there are no real mechanisms for effective communication and coordination.

Originality. This article explores practical aspects of financial security as the protection of state interests in the financial sector, the appropriate level of fiscal, tax and monetary system that guarantees state’s ability to effectively generate, store excessive depreciation and rational use of financial resources of the country to ensure its socio-economic development and servicing of financial obligations. The role and importance in the system to ensure the financial security of the state financial institutions, including isolated and exposed three main groups of financial institutions, financial intermediaries; international financial institutions; financial institutions regulators.

Conclusion. In order to ensure the financial security of the state of Ukraine, it is necessary to implement a set of measures aimed at increasing the participation of financial institutions in promoting the development of domestic business, supporting research, introducing innovations, etc. On the other hand, the implementation of a number of institutional and legal and organizational measures will greatly contribute to increasing the role of financial institutions in Ukraine's financial security system in the context of financial globalization.

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References

Varnalij Z.S. (2016) Contemporary trends of structural components of Ukraine's financial security in the context of global transformations. Formuvannya rynkovoyi ekonomiky v Ukrayini, 35/I, 75-80.

Analytical report to the Annual Address of the President of Ukraine to the Verkhovna Rada of Ukraine "On the Internal and External Situation of Ukraine in 2016" (2017). K .: NISS, 688 p.

Varnalij Z.S. (2016) Financial Institutions and their Importance in the Development of the Modern Financial Market of Ukraine. Ekonomika i rehion, 4 (59), 18-25.

The provision "On the Ministry of Finance of Ukraine" of August 20, 2014, No. 375 [Electronic resource].- Access mode: http://zakon4.rada.gov.ua/laws/show/375-2014-%D0%BF. - Art. 1.