Banking law is a separate set of rules of law. Its functions include the regulation of public relations related to the activities of the Central Bank (CB) and commercial banks.
Banking law includes both civil and financial law . Civil standards include regulation of the formation and activities of banks as commercial organizations, as well as relations between clientele and credit organizations. Legal financial standards form the principles of the credit system, determine the status of the Central Bank (CB) of the Russian Federation, and regulate relations between the Central Bank and commercial banks.
Any legal branch can be considered as a structure in all-Russian law, legal science, and also as an academic discipline.
The legal significance of regulation of relations in this area is due to the political and economic influence of banks on the economy in a certain period of time. Relationship regulation, in addition, has specific regulatory methods.
Banking law as a discipline is represented by a complex of knowledge. This complex has been developed by science and it is taught in accordance with the plan and according to a certain methodology in an educational institution.
The banking law system consists of three main levels:
- Sub-sectors (for example, foreign exchange law).
- Legal institutions as a set of legal norms designed to regulate interrelated relationships of a particular type (for example, a bank transfer institution ).
- Norms of banking law. This kind of legal norm has all its attributes. Along with this, there are distinctive features. So, not only banking law can regulate banking relations by its own rules. There are other industries whose norms are applied in regulating the activities of banks. In particular, they include financial, civil, tax, administrative and other industries.
The rules of law (banking) have a formally defined character, establish the obligations and rights of subjects in banking relations, consolidate their position (legal). Compliance is also provided with the ability to apply sanctions (enforcement).
Sources of banking law are a combination of external forms. They are formally defined and contain regulatory standards in public relations.
The system of sources of Russian banking law includes the Constitution of the Russian Federation, international treaties of the Russian Federation, norms of interethnic law, decisions of the Russian Constitutional Court, banking legislation.
The latter includes laws on the Central Bank, the activities of banks, bankruptcy (insolvency) of credit organizations and other regulations.
The sources should also include internal regulatory acts in banking organizations. So, in the Central Bank - these are the provisions, instructions and instructions that are binding on federal bodies within the state power, all individuals, legal entities, bodies in local self-government.
In the Russian Federation, the banking system is represented by a structure based on specific principles, with regulated legal norms in public relations. At the same time, the relationship is formed in the process of supervision and control of banks, the implementation of activities by banks, as well as in bringing (for violation of the relevant legislation) to responsibility.
In the process of functioning of the above system between its participants, relations can develop in two ways. In the first case, the legal relationship is called vertical. Relations are established between the Central Bank of Russia and other participants in the banking system. In the second case, the legal relationship is called horizontal. They involve interaction between customers and credit organizations, as well as between several credit organizations.