International criteria for the country's banking system efficiency assessment

Modern trends in banking require application of new approaches to the banking system assessment, revealing the banking sector potential and the shocks caused by the system risks. Therefore, the problem of harmonization of national and international standards and criteria for banking system's efficiency assessment is of great importance. In the article, Russia's banking system efficiency has been assessed by means of the methods of economic-statistical, structural-dynamic and ratio analyses; and on the basis of this assessment recommendations on system efficiency improvements in terms of compliance with international standards have been proposed. It is concluded that transition of the Russian baking system to Basel III standards is essential in order to improve efficiency of the Russian banking and comply the requirements of national and international standards.