FINANCIAL STABILITY IN FINANCIAL MARKETS BETWEEN SPOD AND VUCA WORLD

Abstract

The purpose of the article is to clarify the understanding of the new business conditions, the so-called new normal, as part of the study of approaches to assessing financial stability in financial markets. Main results: the list of main factors that have a particularly significant impact on financial stability in financial markets has been clarified; some results of digital transformation of financial markets are characterized; the possibilities of integrating SPFS and CiPS were evaluated; clarified and supplemented the proposals of the regulator on the introduction of mechanisms for automated detection of sources of spread of illegal activities; on the basis of fragmentary factual material, assumptions were made about the nature of the relationship between the systems of centralized and decentralized finance; substantiates the proposal on the need to create a legal regulated cryptocurrency market in the Russian Federation in order to reduce the scale of the emerging shadow market and to accelerate the process of legal support for its functioning. The significance of the article is determined by the main conclusion about the need to change approaches to assessing financial stability by taking into account the high transitivity of modern economic systems of centralized and decentralized finance and new business conditions (conditionally denoted, among other things, by the acronyms SPOD, VUCA, BANI, etc.).