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Conceptual basis for the prevention of financial crises

The system of the prevention of financial crises is an important boundary of struggle against uncontrol¬lable risks and should be developed as one of the important components of wider national strategy of the prevention of crises. In case if one of prevention methods is used only, it can create the false sensation of safety leading to inactivity of groups of risk and responsible bodies. Today the wide approach to the prevention of crises, in which frameworks the system carries out not only information function, is applied, but also offers measures on decrease in probability of occurrence of crises and reduction of their social and economic consequences. In such kind the prevention system carries out a function not only decrease in risks, but also crises preventions, reduction of consequences at each stage of its development.

Transformation of the global debt market under the influence of financial bubbles

In a context of interaction of the real and financial markets credit crisis appears 2007 – 2008 as a symptom of process of the more general nature. The world financial system gradually evolves, replacing bank intermediary (intermediation) on market institutes and products. Thanking securitization actives and to huge scales of use of derivative tools, especially the swaps, repeatedly increased the sizes made (notional) a debt, trade in the structured financial products has sharply extended. In these modern forms has received a powerful impulse process of replacement of old debts on new acceleration of growth of global debts became which direct consequence. All it, for lack of an objective measure of value, for example, the gold standard, has strengthened riskiness of a financial system, and its stability in the increasing measure is based only upon trust of investors to institutes and tools of the financial market.