The relevance of the topic of the article is determined by the need to form an integral theory of the monetary system of the country. The purpose of the article is to critically comprehend the view of the neoliberal school of economic thought on the modern monetary system as fiduciary-active. The positive task of the article is to argue the position that money in modern conditions is not a representative of trust in the reputation of the Bank of Russia as a reliable counterparty to market relations and not its assets, but the material content of the market in all its variety of forms. The main research methods were deduction and induction, organic sequence in the presentation of the material and a number of other scientific methods. As a result of the conducted research, it was concluded that the modern monetary system has a market character.

Currently, the banking system of the Kyrgyz Republic is one of the main successfully developing sectors of the economy. At the same time, the legal basis of banking is the most volatile and flexible area of the legal system, as it comes from various sources, mainly from the regulatory legal acts of the National Bank of the Kyrgyz Republic, which in turn are based on international banking standards. The introduction of new banking products is associated with the adoption of new standards and changes in existing regulatory legal acts. In this regard, the article analyzes the legal framework governing the activities of commercial banks in the republic.

The article presents the results of the author's research in the field of formation and management of the bank's liabilities. The concepts of bank liabilities and passive operations were formulated by author. The main principles and factors influencing the management of passive operations of banks were identified, which made it possible to identify the need for regular analysis of the bank's activities in the field of formation and management of liabilities. As part of the analysis of existing approaches and methods for assessing the bank's liabilities, the key requirements that an effective methodology should meet were formulated. The author of the research has formed a general methodology that allows for the most qualitative analysis of the bank's resource base. Based on this methodology, an analysis of the liabilities of Alfa-Bank JSC was carried out, which made it possible to identify problematic issues in this area and form recommendations for their elimination.

At the legislative level of the Russian Federation, the concept of a banking process is not defined, there are no methods for managing such processes and calculating their cost. Consequently, banks in the Russian Federation manage the processes (their definition (concept), description, cost calculation, selection of criteria for priority optimization or redesign) according to the developed methodology. They also independently establish internal rules for the functioning of the process management system for all branches and other divisions. High-quality and systematic work with banking processes allows the process owner to choose a project approach or tools for its optimization or redesign, depending on the current state of the process, the level of its management, the place of preferential implementation of the process, the vision of its target state. Process management in the implementation of banking activities is becoming particularly relevant in the context of declining marginality of the banking business and/or focusing on the best customer experience of leading Russian banks.

The article analyzes the dynamics of liquidity of systemically important credit institutions of the Russian Federation, which accounted for about 77 % of the total assets of the Russian banking sector as of October 1, 2021. As a result of the analysis, a structural imbalance in the liquidity of systemically important credit institutions has been established, as well as a high relationship between the dynamics of their instant liquidity ratio and inflation in the consumer market. The reasons of the established problem and possible ways of its solution are formulated.

Having an efficient banking system is crucial to ensuring sustainable economic growth, but the resulting uncertainty threatens the economic stability on which most financial companies thrive. Banks' interest income is constantly decreasing, and competition in the transactional business is increasing. There is a need to focus efforts on increasing the operational efficiency of banks after a long period of concentration on customer satisfaction. The author continues to study the methodological elaboration of this problem, analyzing the scientific literature, including approaches to determining the operational efficiency of banks.

Credit activity is the main type of active operations of banks and should ensure the transformation of savings into investments and capital. The provision of business with credit resources of the subjects of the banking sector is an important factor in its development. The macroeconomic analysis of the functioning of the banking system shows that the Bank of Russia continues to regulate the lending activities of banks, without stimulating it to increase the volume of lending to non-financial organizations, while the volume of lending to the population is still growing. Thus, the Central Bank of the Russian Federation contributes to the development of negative social trends (property stratification, unemployment growth, etc.) and weakens the competitiveness of national business entities. Moreover, such regulation creates prerequisites for the emergence of crisis situations in the country.

This article analyzes the specifics of regional microcredit within the framework of the subject of the Russian Federation - the Altai Republic. The theoretical, institutional and practical aspects of micro-crediting of business entities are disclosed. The role and place of microcredit in financial relations are shown. The evaluation of the results of the Fund for the Support of Small and Medium-sized Enterprises of the Altai Republic is given. The problems of structural inconsistency of the offer of microloans with the peculiarities of the regional conjuncture are revealed. New financial products for the segment of small and medium-sized businesses are proposed, taking into account regional demand.

The article discusses some issues of the development of the national bond market. The author, exploring the problems of the debt market as a whole, considers the problems of functioning of such a specific instrument as subordinated bonds. The article analyzes the changes in the regulation of the circulation of this instrument that have taken place in recent years, and assesses the prospects for the development of subordinated bonds in the Russian financial market.

The article is devoted to the study of the activities of investment advisors and independent financial advisors. An explanation is given why it is necessary to operate exclusively with the concepts of "investment adviser" and "independent financial adviser". The article deals with two main problems. The first problem is related to the variety of concepts used in the theory and practice of a professional activity in the field of financial (investment) consulting, and the rationale for the need for their unification. As part of the disclosure of the problem, synonymous names of activities in the field of financial consulting on investing funds of private clients - individuals are considered. The second problem is related to the regulation of the activities of investment advisors and independent financial advisors. The legitimacy of an independent financial adviser's activities is being investigated. Proposals have been developed to improve the mechanisms for regulating the activities of investment advisors and independent financial advisors. A growing interest in the activities of independent specialists in the financial market has been revealed. It manifests itself both on the part of consumers - private investors (individuals), and on the part of performers in the form of an increasing number of independent financial advisors and those who aspire to engage in such activities in the future.

The article analyzes the transformations in the Russian pension system, as well as identifies the problems inherent in it. As a result, the author proves that transformations are often not related to solving existing problems. The article also suggests some measures that, from the author's point of view, will lead to an increase in functionality and an increase in citizens' confidence in the Russian pension system.

The subject of the research is the financial resources allocated from the federal budget in the form of subsidies. The purpose of the article is to assess the effectiveness of funds allocated from the federal budget in the form of subsidies; criterion - compliance of the purpose of granting a subsidy with the name of the CWR, the results of providing funds for the same type of subsidies and recipients of subsidies. The article discusses the criteria for assessing the effectiveness of budgetary expenditures to support legal entities; the effectiveness of budget expenditures was assessed using the example of the Ministry of Industry and Trade of the Russian Federation, the Federal Agency for Air Transport, etc. When writing the article, the methods of comparative analysis, induction and deduction were used. Based on the results of the analysis, the author formulated conclusions related to the need to increase the efficiency of spending budget funds to support legal entities and to agree on the wording of the effectiveness of the allocation of subsidies in different documents.

The article examines the issues of socially oriented tax policy in the taxation of personal income in Russia on the basis of historical domestic and current foreign experience; suggests measures to increase the level of economic security of low-income citizens and compliance with the principle of fairness.

The largest shares of the formation of the country's budget are tax revenues from the oil and gas complex of the national economy, obviously the huge impact of this complex of management on the "health" of the economy as a whole. The creation of an optimal tax system that ensures stable forecasting of oil and gas revenues, rational control and constant replenishment of the budget in the face of the most complex global economic shocks, the volatility of world markets, and a raging pandemic is becoming a priority task of the Government of the Russian Federation. The development of deposits, the parallel decline in hydrocarbon production and the decline in the production of subsequent products require a detailed analysis of the current state of taxation in the hydrocarbon segment of the economy of the Russian Federation. Perhaps closer attention to the problems of taxation of such an important complex as the oil and gas complex for the Russian economy will help solve the problems not only of the functioning of the complex, but also of the economy of the state as a whole. The oil and gas complex, being a powerful source of benefits, could become a necessary basis for the formation of an economy that does not focus on the banal sale of the extracted raw product. Tax reforms of the subjects of the oil and gas complex could become an example for further reforms needed in our time in all sectors (complexes, segments, industries) of the national economy.

The article deals with the problem of financing investments in fixed assets as a factor of economic growth of the Russian economy. The stages of economic growth in the modern market period are distinguished (five stages based on the use of the concept of supply and demand). The development strategies of Russia are considered from the standpoint of the possibility of financing investments in fixed assets. The sources of financing of investments in fixed assets are identified and a comparative analysis of own and attracted sources of financing of investments in fixed assets is carried out by stages of economic growth, as well as by federal districts of the Russian Federation and the Siberian Federal District. The analysis of the sources of financing of investments in fixed assets showed that at present it was not possible to significantly increase the share of attracted sources of financing of investments in fixed assets. The article presents proposals on the possibility of using the potential of the financial market as a mechanism for financing investments based on indicators of depth, accessibility, stability, and efficiency of the financial market. Specific proposals are put forward to change the significance of these indicators.

The article is devoted to one of the most pressing problems of the modern digital economy - its information security. To a greater extent, this applies to the financial sector, which carries out electronic transactions and is actively looking for more efficient analogues of metal coins, paper banknotes, etc. The main reason for these problems is an acute shortage of specialists who possess modern information technologies and understand the essence of the ongoing changes associated with the digital transformation of economic processes. The ways of overcoming the personnel shortage and repelling cyber attacks in financial structures are considered.

The article analyzes the problems of the evolution of the social responsibility of the university in modern conditions, taking into account the impact of digital innovations in education, introduced in universities under the influence of the pandemic. The directions for the development of digital innovations in vocational education are considered, the features of digital competence as a result of digital competencies of all categories of university personnel are highlighted, the key components of responsible digitalization are proposed to enhance the digital maturity of an educational organization in the context of its social responsibility.

The functioning of the modern state is associated with the implementation of socio-economic policy, the content of which is determined by a large number of factors. One of the fundamental factors determining the content of the socio-economic policy of the state is the theoretical basis. The purpose of the study is to determine the theoretical foundations of the development, selection and implementation of options for the socio-economic policy of the state. The article discusses the theoretical aspects that determine the content of the process of choosing and implementing the socio-economic policy of the state. A brief historical analysis of the formation of socio-economic policy models is carried out. Special attention is paid to the stages of choosing a model of socio-economic policy of the state.

This article examines the dynamics of real monetary incomes of the population, as well as the level of poverty in Russia; it is proved that minor increases in the minimum wage do not lead to an increase in real incomes, as they are «eaten up» by inflation; it is shown that the minimum wage should be tied to a real increase in prices for essential goods and services based on objective statistical data. It is emphasized that the subsistence minimum and the minimum wage, being basic social indicators, are among the indicators that determine the poverty threshold.

This article provides a brief historical background of the sanctions events in the international arena, provides an overview of the sanctions policy against Russia, assesses the positive and negative aspects of the bans imposed and considers a set of anti-Russian sanctions. The relevance of the topic is due to the tension of political relations between Russia and Western countries. The generalization prepared by the authors makes it possible to systematize knowledge on the issues under consideration and may be of interest to domestic and foreign scientists studying external economic sanctions in legal, historical, political and economic aspects.

This article shows the evolution of the financing of the Comprehensive Plan for the Modernization and Expansion of the Mainline Infrastructure in terms of rail Transport in 2019 - the first half of 2021; the results of the implementation of this part of the plan in 2019-2020 were also evaluated, the problems of its implementation were systematized and one of the possible approaches to solving these problems was proposed - a comprehensive reform of the current system of freight rail tariffs based on the concept of digital freight rail tariff.

The article considers the content of the mechanism of crisis management at small businesses in the context of globalization, external economic and other sanctions, instability of the external and internal environment of enterprises, high competition and marketing technologies focused primarily on the consumer of products and services. In order to maintain stability and financial stability, small businesses should form and implement an effective anti-crisis management mechanism aimed at: preventing the occurrence of crisis situations; full recovery of financial resources in case of financial difficulties; effective elimination of negative consequences of crisis situations and ensuring and improving its financial stability by creating a system of its adaptation to negative factors of the external and internal environment.

The transfer of innovations of the Military-Industrial Complex to the civilian sphere is a mechanism that should "launch" the innovation process network model. The article analyzes the specifics of strategic management of defense industry organizations that are focused on the command and administrative management model that ensures the fulfillment of the state defense order (GOZ), and it is established that for successful work in civilian markets, it is necessary to apply a market management model. The problem of integration of these models in time and space is considered in the context of the corporate innovation system (CIS). The proposed conceptual model for the development of diversification strategy for the Military-Industrial Complex organization is based on the results of the analysis of scientific and technical potential and the assessment of the innovative potential of the CIS. At the same time, the ability of the Military-Industrial Complex organization to generate value not only for the subjects of the national innovation system to solve the tasks of ensuring the competitiveness of the state in the world markets in the field of high technologies, but also for other subjects of civil industries due to the diffusion of innovations and their adaptation to the needs of market segments is evaluated. At the same time, the specialization of the organization and the possibility of producing technologically related civilian products are taken into account, since the distribution systems are fundamentally different. Assessment of innovation potential requires analysis of the following subsystems: product (scientific and technical level of products), resource; organizational (compliance of the organizational structure with innovative goals); management, knowledge management subsystem. The implementation of the proposed conceptual model allows to obtain various types of synergetic effects.

The article summarizes the research results of the authors of this article, other domestic and foreign scientists and practitioners who have devoted their work to the formation of corporate non-financial reporting, the study of the causes of the emergence and development of integrated reporting, as well as its main functions, including information-analytical, coordinating, regulatory functions and goal-setting functions. The stages of formation and development of integrated reporting are structured and their key events are commented on. The influence of the theory of rational expectations, institutional theory, market value theory, theory of organizational behavior, the concept of dynamic abilities on the development of integrated reporting is evaluated. The author substantiates the fact that the development of the theory of corporate governance based on the ideology of successful development, integration of the interests of companies with national socio-economic interests, requires modernization of the methodology of integrated corporate reporting, combining financial and non-financial reports (and indicators characterizing them) into a single model, which will increase the degree of openness and accountability of the company, the quality of external, internal audit and the effectiveness of its activities. According to the authors, the unified concept of corporate integrated reporting should be structured around the strategic objectives of the company, its business model and corporate governance model, focused on improving the quality of interaction with stakeholders, achieving sustainable success and transition to sustainable investment. Special attention is paid to the domestic Concept of development of public non-financial reporting and evaluation of its Implementation Plan.