AREAS OF ENSURING THE DEVELOPMENT OF FINANCIAL ARCHITECTURE IN THE CONTEXT OF GLOBALIZATION AND EUROPEAN INTEGRATION

Abstract

The article identifies areas for ensuring the development of financial architecture in the context of globalization and European integration. The components of the national state policy on the regulation of Ukraine's financial architecture development are considered. It is proved that in order to ensure the implementation of the main strategic directions of effective state policy towards the development of the financial architecture of the banking sector, the following measures should be taken: increasing the level of the banking sector capitalization and banking credit services competitiveness; implementation of international standards on corporate governance; systematic financial risk management; organization of the creditors' rights protection, relevant depositors and clients. It is substantiated that effective tools that will contribute to the development of the financial architecture of the national economy due to the consolidation of available financial resources and long-term investments should be: diversification of existing instruments in the stock market by providing appropriate information and methodological support for initial issuance of securities; significant increase in the role and importance of non-bank financial institutions (various insurance companies, relevant investment funds, credit unions and pension funds) by significantly simplifying the conditions and expanding the relevant available tools for the participation of such institutions in financial market operations; support for long-term investment lending on the basis of regulatory support to increase the effective lending capacity of investment projects.