ABSTRACT
Most Russian credit institutions are not banks by western standards. At the same time, they cannot avoid the global integration process and worldwide changes, and must adapt to them. This is shown by the growing relations with foreign partners, the use of new instruments on international financial markets, and by participation in world development programs. The process of international involvement of a nation's banking sector is always complicated, and eight years is a very short period for such a huge country as Russia. Banking is a key part of the economy in most emerging markets, but Russian banking is still in its infancy. Post-crisis restructuring has been in Russian hands. Rebuilding confidence will be the cornerstone of banking reconstruction. The process of reconstruction of the Russian banking sector will sooner or later have to look for external stimulants in the forms of foreign investment.
