Science Sexuality and the Erasure of Gender - Free Essay Example

Sample details Pages: 9 Words: 2716 Downloads: 2 Date added: 2019/04/12 Category Literature Essay Level High school Tags: Frankenstein Essay Did you like this example? One of the most overlooked questions of Mary Shelleys Frankenstein is the gender of the creature due to the fact that many readers assume that the monster is a male because it is never explicitly expressed through Victor Frankensteins intentions. Many feminist and scientific critics argue that Shelley reveals the unstable, conflicted aspects of Frankensteins sexuality which expose[s] his homophobia and state that Frankenstein reject[s] women (Daffron 417). However, similar to President Trumps attempts to erase transgender people from existence, Victor Frankenstein strives to not simply reject, but erase the female sex and gender from his world. Due to his obsessive passion for science, his exploitation of nature, and his fear of female sexuality, Doctor Frankenstein creates a creature embodying his ideas of male sexuality and in the process inadvertently expresses his homo-erotic fantasies; while unconsciously taking on the reproductive role of women in order to erase their need in the world, or perhaps become one himself. Americas current administration is considering [the] adoption of a new definition of gender that would effectively deny federal recognition and civil rights protections to transgender Americans (Crary). Don’t waste time! Our writers will create an original "Science Sexuality and the Erasure of Gender" essay for you Create order This means that the Trump administration would dictate whether or not certain sexes or genders exist. The government is essentially using oppression and discrimination to erase transgender people through the denial of their fundamental rights as citizens of America. We can only hypothesize a reason for this erasure of gender. Victor Frankenstein, on the other hand, creates an undead being in order to begin a new human race of only males, either advertently or unintentionally attempting to erase the female gender. In the 18th century, gender and sex were strict ideas based on biological factors and appearance, and female inferiority to men was seen as an undisputed fact. It is horrific that now, in 2018, this idea persists, as certain genders and sexes are treated lesser than others. Mary Shelley, through the character of Victor Frankenstein, explains some of the reasons behind deciding to erase people, as well as expressing her dissatisfaction with a males place of dominance in the world. We all have something to learn from Frankenstein, even our president. It is predominantly evident that the creature is male because Victor Frankenstein refers to it as he and him. He uses the pronouns he gave to it as its creator, however, this does not fully prove the male nature of the being. When the creature becomes lonely and asks Frankenstein for a female companion, the doctor is afraid to create the female partner because the creature would want children, and a race of devils would be propagated upon the earth (Shelley 144). If the partner he created were to be female, the only way for her to have children with the creature would for it to have functional male genitalia. This proves that the creature is of the male sex. Frankensteins fear of creating the female partner is linked to her reproductive power, which shows that he is not merely afraid of more creatures, but also afraid of the womans capability to create life. As a scientist, Frankenstein believes he can give birth to a new life without a female. Victor expects nature to grant him power and control and believes he can penetrate into the recesses of nature and show how she works in her hiding places (Mellor 3). Make note of the use of the word penetrate, and how nature is referred to as a ?her. The word ?nature has very feminine connotations; many people refer to nature as Mother Nature or Mother Earth. Victor Frankenstein admires and looks up to men who had penetrated deeper and knew more (Shelley 46), so much so that he decides to penetrate nature himself but go a step further. Nature becomes the female he is penetrating and impregnating to create his being. Throughout the novel, nature is this passive female force that solely exists to receive male desire, and in a way, Frankenstein takes advantage of this feminine nature. However, Frankenstein is angry that the life he created is distorted and imperfect, much unlike human children that actual women give birth to, but he is still satisfied that he created a male life and succeeded in proving that the world does not need females. After gaining this power, formerly possessed solely by women, he diminishes their societal worth and begins to imagine a world populated exclusively by males. He believes he is so superior to women that their existence is not necessary, which brings us to the conclusion that therefore, in a world of only men, his homosexual desires would be fulfilled. In creating this new species (Shelley 57) of only men, Victor Frankenstein would be satisfying his homosexual fantasies. Doctor Frankenstein has a close relationship with his good friend Robert Walton. Michael Eberle-Sinatra believes that their relationship in the novel can be read as an instance of repressed homosexuality (Eberle-Sinatra 187) due to the fact that they consistently identify with one anothers twisted goals. Furthermore, the relationship between Frankenstein and his creature could be another instance of repressed homosexuality. Perhaps Victor does not want to be seen in a public place with his creature for fear of ostracism based on his creation of a male companion. As Eberle-Sinatra says, when Frankenstein refuses to go through with creating the female partner for his creature, he is eliminating any potential heterosexual competition for the Creatures attention (Eberle-Sinatra 188). Additionally, when the creature is initially created, Victor is woken from a dream in which he saw Elizabeth and as he imprinted the first kiss on her lips, they became livid with the hue of death and he suddenly think he is holding the corpse of [his] dead mother which results in a cold dew cover[ing] [his] forehead, [his] teeth chatter[ing], and every limb [becoming] convulsed (Shelley 60). Elizabeth is the woman that Victor Frankenstein is supposed to marry, yet in his dream, she becomes his dead mother. This strange incestual dream reflects Victors fetishization of death, which could mean that the image of the dead mother is actually a repressed version of the undead monster. The reaction this dream invokes is similar to one of sexual gratification. It is apparent that Victor is much more excited physically by the thought of the Creature and its physical presence than he is by Elizabeth (Eberle-Sinatra 189), the woman he is supposed to love and marry. Victor Frankensteins lifes work is centered on creating a world free of females where he will no longer have to shroud his true identity in homophobia and repression. He attempted to create the perfect male partner by creating the creature but ultimately failed, therefore running from his mistakes and from his homosexual desires. Sadly, Frankensteins misogyny and chauvinism suppress his homosexuality and stop him from ever being free. Victor Frankensteins hatred and spite towards women, as well as towards his creature, stem from his repression of his homosexuality. Sigmund Freud popularized the controversial theory of the Oedipal Complex, which states that as a young child we desire our parent of the same sex because of envy, fear, or disgust we have of or for our other parent. In order to combat this illicit attraction, Freud proposes that the infant boy feels an attraction to his mother and look[s] at the father as a rival for the mother and thus as feeling an unconscious desire to kill the father, so as to have the mother to himself ( Parker 119). Freud consistently uses the word unconscious because he believes that everyone has unconscious drives, and that the repression of these urges is necessary for anyone to function properly and sanely in society. These ideas are expressed in his essay The Uncanny, where he says that the uncanny is something that is not known and familiar and uses the term uncanny when discussing things that appear to slip outside of normal perceptions or normal assumptions (Freud 418). If we psychoanalyze Victor Frankenstein, we can immediately see that he is has not fully repressed nor is unconscious of his illicit desires. He is simultaneously excited and ashamed that he created his grotesque monster, because he is masking his homosexual attraction to the creature with his pride of succeeding in his creation of life goal. However, if we refer to the Oedipal Complex and the uncanny, his emotional appreciation for the creature is somewhat incestuous. Exploiting Mother Nature to give birth to the being is like having a child, therefore making the creature Frankensteins son. For Frankenstein to be attracted to the creature is him being unconsciously, or uncannily, attracted to his child-like creation in a slightly backwards Oedipal Complex situation. While Victor Frankenstein is sexually attracted to essentially his son, his son wishes to kill him and have his mother Mother Nature all to himself. In essence, Frankensteins war on women is a war on his own homosexual feelings, as well as his son. The creature wants to intrinsically stop his father from erasing women because this action would also erase nature, the very force that kept him alive and acted as a parental figure to him throughout the novel. Frankenstein wants to erase women because he unconsciously wants to erase his son, the creature, in order to completely eradicate his deeply repressed homosexual cravings. To ensure that nobody notices his homosexuality, Doctor Frankenstein uses his scientific prowess as public justification. A male chauvinist is a man who believes he is superior to women in all or many aspects of life. Unsurprisingly, Victor Frankenstein is a male chauvinist due to his pursuit of science that degrades the feminine force of nature, his attempts to erase womankind, and the way he acts towards and around the women in his life. Anne Mellor, a distinguished literary scholar, believes that chemical physiology, the field in which Frankenstein pursues the creation of life, is the kind of science that instead of slowly endeavouring to lift up the veil concealing the wonderful phenomena of living nature; full of ardent imaginations vainly and presumptuously attempt[s] to tear it asunder, while Frankenstein himself believes that his studies will result in a more harmonious, cooperative, and healthy society (Mellor 3). We already know that Frankenstein manipulated and abased nature in order to prove that the female gender is unnecessary, however it is unclear why he would use his scientific standing to do this, as it goes against the very morality and truth of science. Mellor critiques the scientist who analyses, manipulates, and attempts to control nature, scientists like Victor Frankenstein, because by doing so these scientists are engaging in a form of oppressive sexual politics (Mellor 12). Is Frankensteins need to control nature due to a feeling of superiority, or due to his fear of relating to women? Victor embarks in earnest research to learn the hidden laws of nature, experiencing gladness akin to rapture as one of the earliest sensations [he] can remember (Shelley 43). He was first interested in alchemy and pseudo-science, but when multiple people in his life, including his father, ridiculed him for this childish obsession, he dedicated his work to multiple fields of serious science. However, the fact that Frankenstein disrespects nature and therefore science by creating the monster, shows that he continued to be passionate about alchemy throughout his more professional studies. Frankenstein unconsciously attempted to control nature to not only erase women, but to create a male lover. Now, this may be because he is homosexual, but it also may be because Frankenstein himself would like to be a woman. Instead of creating a child with Mother Nature, he created and ?birthed the child himself, becoming a sort of woman in a way. Frankensteins deep hatred of women and their reproductive capabilities is not hate, but rather jealousy. This may be the reason he is so tentative to love and marry Elizabeth; she is more like a sister to him than a wife. Victors relationship with his mother was cut short by her death, so Elizabeth is also somewhat of a motherly presence in his life. One of Freuds familiar concepts is penis envy, where an infant female experiencing the Oedipal Complex identifies with her mother due to their mutual lack of male genitalia, therefore becoming jealous of her fathers penis and his ability to impregnate women, therefore dominating them. It seems that Victor Frankenstein suffers from the opposite of this idea; he is envious of a womans capability to have children, resulting in something we may call womb envy. This unconscious jealousy turns into an intense obsession with women and their bodies, not because he is attracted to them, but because he wants to be a woman. When he has the aforementioned dream about kissing Elizabeth, it further represents that his ?love for Elizabeth is a charade for his love of men. When Elizabeth transforms into his dead mother, it is possibly a representation of motherhood or Mother Nature, which signifies his amorous relationship with nature, which connects to science, and even further to the creature. The idea that he is connected to motherhood and womanhood invokes a very sexual reaction from Frankenstein, as if the idea of finally being a woman or being free to love a man is euphoric to him. Sexism and male superiority are the reasons transgender people and females are actively discriminated against and viewed as lesser people. The LGBTQ+ community is just like any other community, it excludes anything or anyone that is found to be too different. In this case, it is transgender people. In Frankenstein, it is the creature, but more than that, it is every and all females. Although the creature is isolated from society, it is necessary to the plot and to Frankensteins emotional growth, or in his case, lack of growth. Every major female character in the novel is either killed or invariably irrelevant. Justine, a servant turned family, is unjustly accused of murder. Due to her position as a woman, she is forced to confess to a crime she did not commit and is ultimately killed. When we compare this to the Trump administrations proposal, Justines position is scarily similar to the way transgender people could have their basic rights stolen from them. Being transgender technically means that someone feels as if their gender identity or expression does not match their assigned or birth sex. In Frankenstein, it is very easy to assume genders, especially those of the creature and Victor. In all actuality, the creature is comprised of various body parts collected from corpses of various genders, and although Frankenstein suggests it has male genitalia, we are never explicitly told this. The original front cover of the novel depicts a representation of the creature looking down in awe at its own genitalia, which further suggests confusion surrounding its own gender and sex. Frankenstein abandoned the creature as soon as it was born, never giving it a name or teaching it anything, so the concept of gender and sex were never introduced to the creature in the first place. The creature is its own type of gender that is misunderstood and discriminated against, very similar to transgender people. Although given the pronouns of he and him, the creature does not have to commit to being a man. He is restrained by societies constructed ideas of sex and gender being these strict ideas of only male and female. Susan Stryker, in her powerful essay dedicated to the idea of transgenderism in Frankenstein, want[s] to lay claim to the dark power of [her] monstrous identity without using it as a weapon against others or being wounded by it [herself] (Stryker 240). She is going to turn the hate and pain people give her into power and strength, which is essentially what the creature and Frankenstein do as well. Comprehensively, Victor Frankensteins homophobia is actually personal oppression of his semi-unconscious homosexuality, and his rejection of women is actually a deep fear that results in hatred and erasure of gender. As a male scientist, Victor takes advantage of nature as a feminine force in order to create life, diminishing any previous power women may have had in a society that already oppresses them. Frankenstein creates the monster to satisfy his own sexual desires and in the process takes away what little status women hold and their necessity in society.

The Relationship Between And Ace And Psychopathy - 1728 Words

In 1999, L.A. Marshall and D.J. Cooke, studied the relationship between and ACE and psychopathy. Fifty participants were diagnosed as psychopaths and fifty five were non-psychopaths. It was concluded that negative experiences in childhood greatly increased the likelihood of the diagnosis of antisocial personality disorder (Marshall et al. 1999). BPD and the link it has to early experiences in childhood (living environment, parental relationships and traumatic experiences) was explored by M. Steele, J. Bate, A. Nikitiades, and B. Buhl-Nielsen in 2015. Attachment theory is also discussed in this article as a way of explaining the symptoms of borderline personality disorder. Steele et al.(2015) discussed how during adolescent years the†¦show more content†¦(2015). They found trauma informed care can reduce adverse childhood experiences for the children of the mothers who had experienced ACE in their childhood (Murphy et al. 2015). P.S. Nurius, S. Green, P. Logan-Greene, and S. Borja 2015, explored how early childhood adversities carries a unique capacity to impair adult psychological well being with and without other stressors. Nurius et al. (2015) concluded that ACE increases the risk of developing a personality disorder, behavior disorder, depression, anxiety, aggression and suicidal behavior. The hypothesis being investigated is â€Å"Participants that score high on the ACE assessment will also score high on the Dark Triad Assessment†, indicating that there is a positive correlation between ACE and personality disordered traits in adults, specifically Machiavellianism. Information will be gathered through previous research that has been conducted on this topic and topics that are similar. Additional information will be gathered through this research study. Participants will complete two surveys that are designed to gather relevant information. Method The first step in this study was to determine what variable to study with adverse childhood experiences. After reviewing literature the researcher decided to see if there is a correlation between ACE and Machiavellianism. The researcher then identified assessments to determine if the participant experienced ACE or exhibited Machiavellianism, narcissism or psychopathy

Leadership And Influence Of Leadership - 1001 Words

LEADERSHIP INFLUENCE QUESTION Leadership is a trait that has both fascinated me, yet eluded me for most of my life. Some say great leaders are born, I however disagree. I believe the qualities of leadership are born out of someone’s experiences, passion, and ambition. My first real exposure to leadership started in 2013, when at the age of 28, I unexpectedly became the youngest manager at my former employer, a company with over 100 managers. This was an institution where seniority was most valued and I was now thrust into managing the critical section of Wireless Engineering, supervising staff who were all older and more experienced than myself. The role was at first daunting as I struggled to balance the demands of upper management†¦show more content†¦She was surprisingly appreciative and I tried my best to return the favor by creating an interesting presentation, demonstrating how engineers solved real world problems. Afterward, I was informed that it was not only the best guest lecture they ever received but that I created a wealth of excitement in her students to join working world. Steve Jobs once said, â€Å"Innovation distinguishes between a leader and a follower†. Following these inspired words, combined with my past experience, provided me with the courage I needed to resign my job and follow my long dormant dreams studying Artificial Intelligence at the University of Edinburgh. In Edinburgh, I led two group projects, one of which involved a robotics competition where my group won first place out of 13 groups. Despite the naysayers to my chosen field, I successfully completed my study and I’m now more passionate than ever to contribute to fields pertaining to this area, particularly data science. NETWORKING QUESTION Given my wireless engineering background, I often see some parallels with the engineering and social characterization of networking. One important lesson from engineering concepts is that the more connections you have, the more resilient your network is to failure. That lesson can be most aptly applied to interpersonal networking where a wide and diverse web leads not just to opportunity, but wisdom in absorbing the life experiences of these persons. I’ve always strongly believed that a wideShow MoreRelatedLeadership And Its Influence On Leadership1496 Words   |  6 PagesART I Leadership is the ability to obtain followers. Commitment will follow your leadership as you climb up the ladder your commitment will rise as well. People do not want to be managed they want to be led. There are many principles that will represent a great leader and help an individual obtain the followers trust. 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The Functions Of A Manager - 1490 Words

The functions of a manager can be considered a circle of actions in which each component leads to the next (Liebler McConnell, 2008, p. 52). The manager carries out activities in a complex unified manner. Gulick identified the traditional functions of a manager and Urwick based on the earlier work of Henri Fayol; the classic functions of a manager are planning, decision making, organizing, staffing, directing and controlling. Manager must continually establish and maintain internal and external organizational relationships to achieve an effective working rapport. They must monitor the organizations environment to anticipate change and bring about the adaptive responses for the organization survival (Liebler McConnell, 2008, p. 52). In the Operating room some of the managers are Charge Nurses. Their primary role is to readjust the daily staffing patterns for the day for unexpected issues such as staff absenteeism. They do this by reviewing the daily surgery schedule for the day and then prepare to cover the staffing to accommodate the needs for that day. They also handle the changes in the surgery schedule as the day progresses. They however, are not involved with looking at the long term of the Operating Room such as with cost savings, future goals or in long-term functionality. The Charge Nurses role is to get through their shift while they meet the immediate needs for the Operating Room (Liebler McConnell, 2008, p. 52-56). The Operating Room also has itsShow MoreRelatedThe Functions Of A Manager1689 Words   |  7 PagesThe functions of a manager can be considered a circle of actions in which each component leads to the next (Liebler McConnell, 2008, p. 52). The manager carries out activities in a complex unified manner. 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Sexual Identity - 1409 Words

Personal Response on Sexuality Identity PSY/265 August 26, 2012 William Noffsinger Personal Response on Sexuality Identity My own value systems and my sexual standards have been influenced by many sources. My parents, religion, peers, subculture, and appraisal from influences have all combined to influence my own value system. Prior to taking this class, I used the legalism approach to form all my values on sexual experiences. Growing up, I was taught that sex before marriage was wrong. As I grew into a young adult, I used the situational ethics approach, and I still do today. The approach that formulates a value system based on moral law is the legalism approach (Rathus, Nevid, and Fichner-Rathus, 2005). However, the†¦show more content†¦However, Christians still practice and believe according to the laws of the Old Testament. Most of the churches that practice according to the teachings of the Old Testament do not accept homosexuals and do not have homosexual members. If homosexuals are members of the church it fair to say they do not know. If society believed in the teachings of the Book of L eviticus, homosexuals would have a hard time adjusting to the rules of society. This perspective would make it more difficult to admit to the homosexual lifestyle. The historical perspective on homosexuality has had no influence or bearing on my own sexual orientation. I have never considered myself nothing more than heterosexual. Although I find it interesting to read and research the historical perspectives of homosexuality, I do not let this influence my own views. I have always believed that everyone should be free to make their own decisions, including who they love, regardless of gender. Also, cross-cultural perspectives have had no influence on my sexual identity throughout my life. Growing up, I was taught that men should be with women, not men with men or women with women. However, I never viewed the acts as being unnatural; I just never believed the lifestyle was for me. Cross-species perspectives never had influence on my lifestyle either. Although most animals engage in â€Å"homosexual† behavior, I do not believe it influenced how I made sexual decisions. Although many humans use sex techniquesShow MoreRelatedSexual Identity Development1056 Words   |  5 Pagesthat have presented models on sexual identity development. Many of the models have stages of sexual identity development suggesting that certain characteristics are present during a specific period. However, Anthony D’Augelli presents a model that suggests processes rather than stages. These processes take place over the span of one’s life and not necessarily in any specific order or fashion. 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Current situation of banking system of the Republic of Kazakhstan free essay sample

Ministry OF SCIENCE AND EDUCATION OF RK INTERNATIONAL ACADEMY OF BUSINESS FINANCE DEPARTMENT Course work Subject: # 8220 ; Current state of affairs of banking system of the Republic of Kazakhstan # 8221 ; . Done by: Alexeyenko R. F 0801 Checked by: Serikbayeva Zh. D. c.ec.s, docent IAB. Alma-ata 2010. Table OF CONTENT Introduction 3 ChapterI. Concept of bank and banking system 5 Chapter II. The current state of affairs of banking system of the Republic of Kazakhstan 12 Chapter III. Problems and positions of development of banking system of the Republic of Kazakhstan 19 Decision 25 Mentions 27 Introduction The modern economic system represents really hard system each portion of which is closely connected with others and plays an of import function. But, one of the major functions is played by the bank system supplying at the present phase development of economic common dealingss, normal operation of all economic system as a whole. For today Bankss are called: # 8226 ; to roll up free money resources, # 8226 ; to transport out maps of tellers of economic topics, # 8226 ; to do issue. Now it is impossible to show harmoniously developed province without the branched out web of Bankss. And it is valid, Bankss play in modern economic system a function of legion Black Marias , which help likely development and formation of economic-political power of the province. Economic-political as the political philosophy in which the economic system would be considered individually from a policy is nt created yet. For today, Bankss are the economic tool in authorities custodies. Despite imperfectness of the bank statute law, the Kazakhstan Bankss occupy strong place in place market of capitals, and unfastened subdivisions abroad. The modern bank system of Kazakhstan has developed as a consequence of the assorted transmutations resulted within the bounds of bank reform which has been spent in our democracy since 1987. The passage period during which old and new bank constructions coexisted, has appeared instead short. As a consequence in Republic there was the two-tired bank system which first-tire represents National bank, and the 2nd or bottom degree is represented by the province, commercial, joint and foreign Bankss. The national bank is the chief bank of Kazakhstan and is in its belongings. On the one manus, it is the legal organic structure which is transporting out certain civil-law minutess with commercial Bankss and the province. On the other manus, it is allocated by broad disdainful powers on direction of a pecuniary and recognition system of democracy which are fixed in the Law On National bank of RK . In the given work development of bank system in modern economic system is investigated. The intent of the given work to see modern lines of development of banking in Kazakhstan. Continuing from the intent we will seek to transport out following jobs: # 8226 ; to see history of development and formation of bank system RK ; # 8226 ; to analyze modern status of bank system ; # 8226 ; to look into jobs and positions of development of bank system in RK. Object of research of the given work is bank activity and bank system as a whole and the topic is the bank system in the Republic of Kazakhstan. The undertaking in position has been executed by the analysis of the economic literature and magazines, newspapers devoted to economic topics, the informations of National bank and FSA, Torahs and legal Acts of the Apostless. The urgency of the set subject is caused by that one of the major properties of market economic system is the bank system which acts some sort of the generator, roll uping providing the province and all members of a society as fiscal assets. Creation of a steady, flexible and effectual bank substructure one of the major ( and highly hard ) economic reform jobs in Kazakhstan. ChapterI. CONCEPT OF BANK AND BANKING SYSTEM Banking system is one of the major and built-in constructions of market economic system. Development of Bankss and trade good industry and mention historically went in analogue and closely intertwined. Banks as fiscal mediators involve capitals of economic governments, population nest eggs, and other free money resources liberated in the class of economic activities, and give them out in clip of utilizing to borrowers, carry out pecuniary computations and render other legion services for economic system, thereby straight act uponing production efficiency and the mention of a public merchandise and advancing growing of productiveness of societal activities. Today, in the conditions of the developed trade good and fiscal markets, the construction of banking system aggressively becomes complicated. Have appeared new sorts of the fiscal establishments, new recognition tools and methods of service of patronage. Creation of banking system in Kazakhstan has begun after sovereignty response, in December, 1990. For top-quality development of economic system the determination on creative activity of the two-tiered bank system recognized all over the universe as the most effectual in the conditions of the market was accepted. It allows passing an independent pecuniary and recognition policy, to work out jobs of rising prices and fiscal care of the province and a society needs. In kernel, the Law On Banks and Banking activity in Kazakh USSR , accepted in January, 1991 became the beginning of banking reform in the state. The given Law has provided formation of bases of two-tired bank system. Then, in 1995 the jurisprudence # 8220 ; On Banks and Bank activity in the Republic of Kazakhstan # 8221 ; has been passed on which the bank admits as the legal organic structure which is the commercial organisation and carries out bank activity harmonizing to the Law On Banks and Bank activity in the Republic of Kazakhstan . The official position of bank is defined by the province enrollment and presence of the licence of the authorised organic structure for ordinance and supervising of the fiscal market and the fiscal organisations. As earlier it has been noted, banking system of RK is two-tired, the representative of the first-tier is National bank of RK, and the 2nd # 8211 ; all other Bankss, except Development Bank of Kazakhstan. Besides in banking system are included Bankss with foreign engagement, Islamic Bankss and intergovernmental Bankss. The National bank of the state has been organized from the minute of formation of independent Kazakhstan, but, despite it, it still was nt the cardinal bank of the state in its classical definition. The national bank continued to transport out a figure of minor maps, besides, non all was clear with its position in system of province constructions. So, during the period from 1991 boulder clay 1993 the National bank was submitted to all subdivisions of the power. The authorities gave orders to it, deputies supervised its activity and delegated to it extra orders, frequently demanding of their immediate executing. For the determination of the given job in March, 1995 by the President of Republic of Kazakhstan N.A.Nazarbayev has been confirmed the Law On the National Bank of the Republic of Kazakhstan harmonizing to which the National bank became the legal organic structure, has independent balance and together with the subdivisions, representations and organisations makes incorporate construction, in the activity it is accountable merely to the President. Since so no authorization of representative and executive power has the right to interfere with activity of National bank. But, however, every bit good as in all other states, the National bank of the Republic of Kazakhstan should organize inquiries of nation-wide economic policy with the Government. Lapp 1995 the first plan of reforming of bank system of democracy has been accepted. The kernel of this plan consisted in care with Bankss of crediting of economic system at the disbursal of nest eggs of the population independently involved wi th them, available assets of pull offing topics and external loans. So the National bank has been released from political force per unit area and from maps which could transport out Bankss of the 2nd degree. Now the National bank has passed to public presentation of direct maps of the cardinal bank of the state # 8211 ; transporting out of an independent pecuniary and recognition policy and creative activity of the bank system meeting modern demands. [ 1 ] The national bank is endowed with broad disdainful powers on direction of a pecuniary and recognition system of democracy which are fixed in the Law On the National Bank of the Republic of Kazakhstan . The Primary intent of National bank is care of internal and external stableness of national currency of the Republic of Kazakhstan, and besides working out and transporting out pecuniary policy, pecuniary circulation ordinance, the organisation of bank computations and currency dealingss, aid to care of stableness of pecuniary, recognition and banking system, protection of involvements of creditors and investors of bank. NBRK besides acts as the emitter of the province securities, participates in service of the internal and external debt of RK surety of which is Government of RK. The National bank carries out supervising of activity of commercial Bankss and the organisations which are transporting out operations under the purchase, sale and an exchange of foreign currency and establi shes prudential criterions which regulate activity of Bankss. That is National bank bears full duty for operation of pecuniary and recognition sphere and represents involvements of RK in dealingss with the cardinal Bankss and financially-credit establishments of other states. [ 2 ] Reforming of banking system of Kazakhstan has passed practically in three phases. At the first phase ( 1988-1991 ) in a status of being of the USSR has been spent reorganisation of the province subdivision specialized Bankss by transportation of a portion of maps of the halfway republican divisions of matching Bankss, there is begun creative activity of the first commercial Bankss and initial stairss under the fable to the State Bank of separate maps of the cardinal bank are taken. The 2nd phase with ( 1992-1993 ) is characterized by gradual passage of National bank to public presentation of some maps of the cardinal bank within the bounds of being of a rouble zone, extended formation and development of commercial Bankss, the beginning of formation of national bank is standard-legal base. At the 3rd phase ( since November 1993 ) in connexion with debut of national currency full duty for operation of pecuniary and recognition sphere, debut of classical rules of its common dealingss have been assigned to National bank with the budget and Bankss, beef uping of system of ordinance of bank # 8217 ; s activity. Follows that in the beginning of the 3rd phase the status of banking system of the state in kernel did nt reply demands to the full objectively-shown to them. It concerned as to National bank which by so hadn # 8217 ; t traditions and experience in a portion of public presentation of maps of the cardinal bank, and to Bankss of the second-tired which was nt capable in necessary volumes to transport out crediting of economic system at the disbursal of ain and is independently mobilized fiscal resources and to transport out all composite of bank services. In these conditions the National bank has developed and confirmed by the president of republic the concrete plan of reforming of banking system in Kazakhstan for 1995. The plan has been coordinated with actions of the authorities for intensifying of reforms and an issue from an economic crisis, and besides considered recommendations of the international fiscal organisations. During public presentation of this plan certain positive consequences have been received: # 183 ; necessary coordination of activity of National bank, of the Ministry of Finance in transporting out of a fiscal policy of the province has been reached ; # 183 ; debut of all spectrum of tools of pecuniary and recognition and currency ordinance, characteristic for classical cardinal Bankss has been finished ; # 183 ; following mechanisms of system of supervising and ordinance of activity of Bankss of the second-tired have been developed ; # 183 ; the normative base has been created, there has begun processing of system of currency ordinance and control ; # 183 ; steps on addition of degree and efficiency of the analysis of macroeconomic procedures, their prediction and decision-making usage have been taken ; # 183 ; considerable work on accomplishment of adequateness of used system of accounting of National bank and bank of the second-tier by international criterions to demands of market economic system has been spent ; # 183 ; has been reduced measure of Bankss, straight go againsting established economic specifications and the rights of the endeavors and physical individuals clients of Bankss ; # 183 ; quality of mechanisms of accretion of fiscal resources by second-tier Bankss, and besides degree of an appraisal of undertakings has raised at crediting of pull offing topics and grade of hazard of a reflexiveness of credits ; # 183 ; positive inclinations have been outlined in addition of degree of capitalisation of the Bankss, leting them independently to transport out funding of large-scale undertakings on an intermediate term and long-run footing ; # 183 ; work on addition of vocational preparation of the forces has been made active. Transporting out back-to-back and interrelated stairss on reforming and development of banking system of the state, and besides realisation of moderate-rigid pecuniary policy has allowed to bridle rising prices, to stabilise a class of tenge and to lower degree of involvement rates. [ 3 ] Representatives of the second-tier of banking system are commercial Bankss. The organisational device of commercial Bankss corresponds to the standard strategy of direction of Joint-stock company. The supreme organic structure of commercial bank is general meeting of stockholders which should go through non less than one time in a twelvemonth. There are representatives of all stockholders of bank on the footing of the power of lawyer. General meeting is competent to work out the inquiries taken out on its consideration if in session take portion non less than three quarters of stockholders of bank. Board of managers controls the bank activity. The board of managers carries out the general direction of bank activity. The bank executive office is joint organic structure or the individual who is separately transporting out maps of an executive office which name is defined by the charter. An executive office carries out the current activity. The recognition commission considers undertakings of recognition and other programs of bank, confirms programs of incomes and disbursals and bank net income, the board of managers considers inquiries on gap and shutting of subdivisions of bank and other inquiries connected with activity of bank, both common dealingss with clients and development chances. The board supervises over straight activity of commercial bank. It bears duty before general meeting of stockholders and council of the Bank. The board consists of the president of the board, its helpers and other members. Into construction of boards of commercial Bankss normally enters representatives of the largest participants of bank. Bank board meetings are spent on a regular basis. Decisions are accepted by bulk of ballots. At equality of voices the voice of the president of the board is work outing. If legal guardians or its president do nt hold with the board determination, they can inform the sentiment to council or general meeting. Definitive the determination of council of the Bank in this instance is. Board determinations are put into pattern by the order of the president of the board of bank. Bank audit is made by the hearer organisation. Transporting out of audit for the consequences of a financial twelvemonth is needfully for Bankss. Transcripts of the study and the recommendation of the hearer organisation should be presented by Bankss, or the hearer organisations to the authorized organic structure within 30 yearss from the day of the month of informations acquisition of paperss. The amalgamate one-year fiscal coverage of bank should be assured by the hearer organisation. The hearer organisation states consequences of audit and the decisions in the study represented to board of managers and board of bank, at the necessity defined by bank, to other legal organic structures that are a portion of a bank pudding stone. The auditor study of the fiscal coverage of bank or other legal organic structures which are a portion of a bank pudding stone does nt do a commercial secret. Large Bankss normally consist of sections, directions and sections which are created to a functional mark. Their caputs supply normal work of these divisions. Directors of sections, heads of directions and their helpers coordinate activity of sections and services, define their concrete intents and plans, advise, supervise and gauge their work. The measure of sections depends on size and character of activity of bank, volumes and complexness of bank operations and a assortment of services given to clients. The history in commercial Bankss is carried out harmonizing to the regulations established by National bank. Banks represent to National bank or its direction in the location of commercial bank balance on the first day of the month, the one-fourth turnover sheet and the one-year accounting study. With a position of promotion care in work of commercial Bankss and handiness of the information on their fiscal place their one-year balances confirmed by general meeting of stockholders, and besides on history of net income and losingss should be published in the imperativeness ( after recognition of dependability of the informations presented to them by the hearer organisation ) . With a position of operative credit-settlement service of the endeavors and the organisations # 8211 ; the clients of bank territorially removed from the location of commercial bank, it can form subdivisions and representations. Thus the inquiry on gap of subdivision or representation of commercial bank should be coordinated with Central administrative board of National bank in a topographic point of gap of subdivision or representation. The stray structural divisions which are located out of a topographic point of its determination and transporting out all or a portion of its maps are considered as bank subdivisions. The subdivision is nt the legal entity and makes delegated to it head bank of operation in the bounds provided by the licence of National bank. It concludes contracts and conducts other economic activities on behalf of commercial bank, which it was created by. The representation is the stray division of commercial bank located out of a topographic point of its determination, non possessing the rights of the legal individual and non holding independent balance. It is created for care of representation maps of bank, fulfilment of minutess and other legal actions. The representation is nt engaged in settlement-credit service and has no letter writer subaccount. For realisation of family disbursals to it the current history clears. [ 4 ] The kernel of activity of Bankss is shown in public presentation of certain maps by them, which distinguish them from other organic structures. Grouping the basic operations of commercial Bankss, it is possible to explicate basic maps carried out by them: 1. Accretion and mobilisation of the pecuniary capital ; 2. Intermediary in the recognition ; 3. Transporting out of computations and payments in an economic system ; 4. Creation of agencies of payment ; 5. The organisation of release and placing of securities ; 6. Consulting service. Mobilization of temporarily free money resources and their transmutation into the capital # 8211 ; one of the oldest maps of Bankss. Free money resources accumulated by bank legal and physical individuals, on the one manus, will be brought in to their proprietors by the income in the signifier of per centum, and with another # 8211 ; make base for transporting out of loan operations. The concentrated nest eggs can be used on any economic and societal demands. By agencies of Bankss there is a concentration of money resources and their transmutation into the capital. Other of import map of commercial Bankss is intermediary in the recognition. With direct recognition dealingss between proprietors of free money resources and borrowers interferes non coincidence volume of the capital offered in the loan, with demand for it, and besides term of release of the capital with term on which it is necessary to the borrower. Direct recognition communications between proprietors of the capital and borrowers complicates. The owner of the capital can non hold the information on a fiscal place of the borrower. Commercial Bankss, moving in a function of fiscal mediators, extinguish these troubles. Bank credits go in assorted sectors of economic system, provide industry enlargement. The stable economic system ca nt be without the organized and debugged system of pecuniary computations. From here the great value has a function of Bankss in transporting out of computations and payments. The basic portion of computations between the endeavors is carried out by a non-cash manner. Banks, stand foring itself as the mediator in payments, carry out computations on the instructions of clients, accept money for histories and maintain history all pecuniary grosss and bringings. Centralization of payments in Bankss promotes decrease of distribution costs, and for acceleration of computations and addition of dependability of payments electronic systems of computations take root. Particular map of commercial Bankss is their ability to make or destruct money that is to increase or cut down pecuniary weight. Creation of agencies of payment is straight connected with depositary and recognition activity of Bankss. The sedimentation can be created by two ways: entrance by the client of hard currency into bank or bringing to the borrower of the recognition. Therefore specified operations by assorted image influence volume of pecuniary weight in circulation. However Bankss are capable non merely to make, but besides to destruct money. It is possible at refund by borrowers of credits by write-down of money from their depositary histories. In this instance the general pecuniary weight in an economic system is reduced. In the presence of demand for the recognition the modern issue mechanism allows to spread out boundary lines of pecuniary issue that proves to be true growing of pecuniary weight in industrially developed states. But it is required to economic system optimal, alternatively of the inordinate measure of active money, hence commercial Bankss operate within limitations ( obligatory militias ) , established by the cardinal Bankss. Commercial Bankss carry out issue-promotional map, transporting out release and placing of securities, in peculiar, portions and bonds. Therefore Bankss have possibility to direct nest eggs on the industrial intents. The securities market as though addendums system of the recognition and cooperates with it. On the instructions of the endeavors necessitating long-run investings both fall backing to a portion issue and bonds, Bankss incur definition of the size, conditions, issue term, a pick of type of securities, and besides responsibilities on their placing and the organisation of the secondary mention. Banks warrant purchase of the Lashkar-e-Taiba out securities, acquiring and selling them at ain disbursal or forming for this purpose bank mobs, give to purchasers of actions and loan bonds. Duties for the considerable amounts which have been let out by the big companies can be placed by bank through sale to direct clients, alternatively of a method of free sale at a stock exchange. The sufficient economic consciousness and possibility of control of economic state of affairss allow Bankss to transport out confer withing service. Banks carry out the analysis of fiscal activity of the endeavors, conditions of their accounting, estimate scheme of development and reveal possible waies of addition in incomes. Bing engaged in operations with securities, Bankss estimate position of release of new actions of the client and a world of their placing ; advise clients in a pick of the houses, ready to incur placing of new securities, and other consulting services render: from opening of histories to the recommendation about fulfilment of operations in the pecuniary and trade good markets. [ 5 ] Recently commercial Bankss have faced a crisp exasperation of a competition from legion specialized recognition establishments which stimulates hunt by Bankss of new Fieldss of activity, addition in figure of services offered clients and betterment of quality of service. Development of a inclination of enlargement of maps of commercial Bankss in modern conditions returns. For beef uping of the places in the market they carry out operations non characteristic for Bankss more actively, taking root into nonconventional domains for them fiscal concern. The function of Bankss in economic system working thereby rises. Chapter II. THE CURRENT SITUATION OFBanking SYSTEM OF THE REPUBLIC OF KAZAKHSTAN For January 1, 2010 38 second-tier Bankss operate in Kazakhstan, including the metropolis of Almaty where are registered 35 Bankss, 34 subdivisions and 372 extra premises of Bankss, in 2009 the figure of Bankss was 37, and in 2008 35, addition in the figure of Bankss is due to an bettering economic state of affairs in the Republic of Kazakhstan. More detail the construction of the banking system of Kazakhstan can be observed in table 1. Table 1 Structure of the banking sector, [ 6 ] Indexs: Jan 1. 2008 Jan 1. 2009 Jan 1. 2010 Number tier two Bankss, incl. : 35 37 38 Bankss with 100 % of authorised capital owned by the Government 1 1 1 Number of tier two Bankss # 8217 ; subdivisions 352 379 374 Number of tier two Bankss # 8217 ; cashier colony desks 2028 2167 1925 Number of tier two Bankss # 8217 ; representative offices abroad 17 14 17 Number of non-resident Bankss # 8217 ; representative offices in the Republic of Kazakhstan 26 31 32 Number of participant Bankss in compulsory corporate insurance system for persons # 8217 ; sedimentations 33 35 36 Number of Bankss licensed to prosecute in custodian activity 10 11 11 Table 1 shows that on January 1, 2010 there was an addition in the figure of tier two Bankss # 8217 ; representative offices abroad, figure of non-resident Bankss # 8217 ; representative offices in the Republic of Kazakhstan, figure of participant Bankss in compulsory corporate insurance system for persons # 8217 ; sedimentations, figure of Bankss licensed to prosecute in custodian activity. Following, allow # 8217 ; s see the construction of assets of two-tier Bankss, of liabilities of two-tier Bankss, of capital of two-tier Bankss, of liquidness and profitableness of the banking sector. For 2007 the Bankss # 8217 ; entire assets increased by 2,811.4 bln. tenge ( 31.7 % ) and for January 1, 2010 totaled 11,557.3 bln. tenge ( table 2 ) . Table 2 Structure of entire assets of the banking sector, [ 7 ] Indexs: Jan 1.2008 Jan 1. 2009 Jan 1.2010 bln. tenge bln. tenge. bln. tenge. 1 2 3 4 Cash, refined cherished metals and letter writer histories 1013.10 820.2 1037.0 Deposits in other Bankss 642.5 576.8 1072.1 1 2 3 4 Securities 787.8 888.2 1779.7 Bank loans and contrary Repo 8868.3 9244.5 9638.9 Capital investings 222.5 319.5 290.6 Militias ( commissariats ) -1031.9 -4000.3 Other assets 150.40 1072.2 1739.3 Entire assets 11684.6 11889.6 11557.3 The Bankss # 8217 ; plus mix shows the prevalence of loans to clients, followed by hard currency, refined cherished metals and letter writer history balances, securities portfolio, sedimentations in other Bankss. During 2008, bank entire assets increased by 205.0 bln. tenge ( 1.8 % ) , and on the January 1, 2009 constituted 11 889.6 bln. tenge. From 2008 bank loans and contrary REPO minutess have increased by 376.2 bln. Tenge or by 4.2 % ; hard currency, refined cherished metals and letter writer history balances decreased by 192.9 bln. tenge or by 19.0 % ; securities increased by 100.4 bln. tenge or by 12.7 % , sedimentations in other Bankss decreased by 65.7 bln. tenge or by 10.2 % , capital investings increased by 97.0 bln. tenge or by 43.6 % . On-balance sheet debt increased from 100.5 bln. tenge by 156.5 bln. tenge ( 2.6 times ) up to 256.6 bln. tenge Account balances reflecting the past due involvement payments increased from the beginning of the twelvemonth by 31.6 bln. or by 2.8 times and reached 49.0 bln. tenge as of 1 January 2009. During 2009 the lessening in assets has equaled to 332,3 bln. tenge ( 2,8 % ) , bank loans and repo operations have increased by 394,4 bln. tenge ( 4,3 % ) , militias ( commissariats ) have increased by 2 968,4 tenge. In 2009 in comparing with 2008 and 2007 are the lowest rates of entire assets. Figure 1 Structure of assets, [ 7 ] The largest portion of the plus construction falls on Bank loans and contrary Repo as they bring great net income ( figure 1 ) . During 2007, entire liabilities of two-tier Bankss have increased by 2,255.1 bln. tenge. ( that is by 28.2 % ) , and totaled 10,256.7 bln.tenge, as of the terminal of the coverage period ( table 3 ) . Table 3 Structure of entire liabilities of the banking sector, [ 7 ] Indexs: Jan 1.2008 Jan 1. 2009 Jan 1.2010 bln. tenge bln. tenge. bln. tenge. Interbank sedimentations 319.9 319.0 237.0 Loans from other Bankss and establishments engaged in certain types of banking operations 1798.20 1450.2 1247.5 Loans from the Government of the Republic of Kazakhstan 7.7 32.0 47.5 Loans from international fiscal establishments 85.1 88.9 98.7 Corporate sedimentations 2447.1 3088.3 4066.5 Retail sedimentations 1447.8 1500.3 1937.4 Special-purpose sedimentations of bomber ( SPV ) 2529.0 2284.5 1795.5 Outstanding securities 467.6 375.1 1307.6 Repo securities minutess 245.4 269.1 534.7 Other liabilities 908.90 1029.6 1264.4 Entire liabilities 10256.70 10437.0 12536.8 The greatest part to the addition in Bankss # 8217 ; liabilities came from special-purpose sedimentations ( SPV ) of bank subordinates, which have increased by 971.9 bln.tenge, that is by 62.4 % , followed by due to persons, which increased by 413.6 bln. tenge, that is by 40.0 % ; while loans from other Bankss and establishments engaged in certain types of banking operations have increased by 379.1 bln. tenge to 1,798.2 bln. tenge. From get downing of 2008 entire liabilities of 2nd tier Bankss increased by 177.5 bln.tenge ( or by 1.7 % ) , and formed 10 437.0 bln.tenge, as of 1 January 2009. SPV sedimentations in entire liabilities of the banking sector decreased by 244.5 bln. tenge, or by 9.7 % , liabilities to persons increased by 52.4 bln. tenge, or by 3.6 % ; while loans from other Bankss and establishments engaged in certain types of banking operations decreased by 348.0 bln. tenge to 1 450.2 bln. tenge. Entire liabilities of commercial Bankss in 2009 addition vitamin D by 2 099.8 bln. tenge or by 20,1 % . In the construction of liabilities, corporate sedimentations have increased by 978.2 bln. tenge or 31,7 % , retail sedimentations by to 437.1 bln. tenge or 29,1 % . Particular purpose sedimentations of subordinates have decreased by 489.0 bln. tenge or 21,4 % , loans from other Bankss and establishments engaged certain types of banking operations by 202.7 bln. tenge or 14,0 % . Foreign currency sedimentations in 2009 increased by 966.2 bln. tenge or 1.5 times. Figure 2 Structure of liabilities, [ 7 ] The largest portion of the liabilities construction falls on corporate sedimentations and SPV as they are based on big amounts of money. Line-item alteration in capital for 2007-2009 is presented in Table 4. Table 4 Calculated ain capital of two-tier Bankss, [ 7 ] Indexs: Jan 1. 2008 Jan 1. 2009 Jan 1.2010 Jan 1.2010** bln. tenge bln. tenge bln. tenge bln. tenge 1 2 3 4 5 One-tier capital 1283.7 1525.1 -1055.3 958.0 Authorized capital 938.5 1017.7 1415.3 797.5 Auxiliary capital 3.8 4.9 4.5 4.5 Two-tier capital 560.9 495.1 312.2 312.2 Subordinated debt 460.9 562.6 587.4 366.1 1 2 3 4 5 Tier three Capital 1.5 0.9 1.1 1.1 Investings of Bankss 64.4 73.3 172.6 0.4 Total calculated ain capital 3313.7 3679.6 -914.6* 1270.9 * negative value of the deliberate ain capital is connected with lessening of ain capital of BTA Bank, JSC and Alliance Bank, JSC **data across the system is given without BTA Bank, JSC and Alliance Bank, JSC. Year 2007 to day of the month, entire estimated equity of grade two Bankss has increased by 611.6 bln.tenge ( 52.3 % ) to make 1780,2 bln. tenge as of January 1, 2008. Herewith, tier one capital increased by 57.3 % to make 1284.0 bln. tenge, while tier two capital increased by 45.0 % , i.e. up to 558.9 bln. tenge. Entire estimated ain capitalofsecond tier Bankss increased by 167.7 bln.tenge ( 9.4 % ) from the beginning of 2008 and reached 1 947.8 bln. tenge as of 1 January 2009. Herewith, tier 1 capital increased by 18.8 % and reached 1 525.1 bln. tenge while tier 2 capital decreased by 11.4 % boulder clay 495.1 bln. tenge. Tier one capital decreased by 2580.4bln. tenge, authorized capital by 397.6 bln. tenge, auxiliary capital decreased by 0.4 bln. tenge, tier two capital decreased by 182.9 bln. tenge, subordinated debt increased by 24.8 bln. tenge, tier three Capital increased by 0.2 bln. tenge, investings of Bankss increased by KZT 99.3 bln.tenge. Because of restructuring of BTA Bank, JSC the sum calculated ain capital of 2-tier Bankss of RK for 2009 has negative sum. BTA bank # 8217 ; s portions were bought by province so the capital of this bank decreased. But if we don # 8217 ; Ts take it into consideration the sum calculated capital for January1, 2009 is the least but positive. Table 5 Change in liquidness of the banking sector, [ 7 ] Indexs: Jan 1. 2008 Jan 1. 2009 Jan 1. 2009* Jan 1. 2010 Jan 1. 2010* bln. tenge bln. tenge bln. tenge bln. tenge bln. tenge Current liquidness ratio k46 ( min value 0.3 ) 1.43 0.9 1.1 3.1 3.7 5.1 5.9 Quick liquidness ratio k4-1 ( min value 1 ) Quick liquidness ratio k4-2 ( min value 0.9 ) 1.8 1.9 2.6 3.2 Quick liquidness ratio k4-3 ( min value 0.8 ) 1.6 1.7 2.1 2.4 *data across the system is given without BTA Bank, JSC and Alliance Bank, JSC. In table 5, as of 1 January 2008, the liquidness of the banking system remained at inordinate degree. Composite current liquidness ratio, as of 1 January 2008, was 1.43 ( vs. minimum criterion for a peculiar bank of 0.3 ) , short-run liquidness ratio was 0.97 ( vs. minimal criterion of 0.5 ) . As of 1 July 2008 the amendments in liquidness norms have come into force, aimed at ordinance of term liquidness and term currency liquidness ( up to 7, 30 and 90 yearss ) . As of 1 January 2009 there wasn # 8217 ; t any misdemeanor of term liquidness and term currency liquidness coefficients ( sing liquidness norms alterations ) . Herewith, As of 1 January 2009 in banking system there are: coefficient of term liquidness up to 7 yearss ( k4-1 ) constituted 3.1 ( vs. lower limit norm 1 ) ; coefficient of term liquidness up to 30 yearss ( k4-2 ) constituted 1.8 ( vs. lower limit norm 0.9 ) ; coefficient of term liquidness up to 90 yearss ( k4-3 ) constituted 1.6 ( vs. lower limit norm 0.8 ) . Composite current liquidness ratio, as of 1 January 2010, was 0.9 ( vs. minimum criterion for a peculiar bank of 0.3 ) , coefficient of term liquidness up to 7 yearss ( k4-1 ) constituted 5.1 ( vs. lower limit norm 1 ) ; coefficient of term liquidness up to 30 yearss ( k4-2 ) constituted 2.6 ( vs. lower limit norm 0.9 ) ; coefficient of term liquidness up to 90 yearss ( k4-3 ) constituted 2.1 ( vs. lower limit norm 0.8 ) . Chiefly all indexs of liquidness for January 1, 2010 are the highest, it means that the liquidness of Bankss additions and for banking sector it is good. Table 6 Drumhead public presentation indexs reflecting the net incomes of the banking sector, [ 7 ] Indexs: Jan 1. 2008 Jan 1. 2009 Jan 1.2010 bln. tenge bln. tenge bln. tenge Net income before revenue enhancement to entire assets ( ROA ) 2.25 0.23 -24.06 Net income before revenue enhancement to equity ( ROE ) 18.41 1.88 -1192.63 Interest income to entire assets 10.64 12.39 11.04 Interest income on loans to entire loan portfolio 12.76 14.64 11.87 Interest disbursal to entire liabilities 6.40 7.63 7.43 Provisioning disbursals to entire assets 2.11 11.09 50.27 In involvement income, the largest proportion falls on involvement income on loans to clients, while in involvement disbursal predominating are involvement payments on due to clients. Net income before revenue enhancement to entire assets ratio ( ROA ) totaled 2.25 % , net income before revenue enhancement to equity ratio ( ROE ) was 18.41 % ( table 6 ) . Net income before revenue enhancement payment to entire assets ratio ( ROA ) totaled 0.23 % , net income before revenue enhancement payment to ain capital ratio ( ROE ) was 1.88 % . Net income before revenue enhancement payment to entire assets ratio ( ROA ) totaled ( -24.06 ) % , net income before revenue enhancement payment to ain capital ratio ( ROE ) was ( -1192.63 ) % . The consequences of the banking sector in 2009 are declining, despite the enormous support of several large Bankss, immense losingss and negative equity have non been overcome. In the planetary economic crisis banking system of Kazakhstan was one of the most affected in state s economic system. Standard A ; Poor s attributes this to its structural failings, which are due to the strong dependance on external funding, every bit good as bad concentration ( including the connexion with important hazard of some major Bankss in foreign loans ) , weak hazard direction, a important portion of unhedged loans and sedimentations denominated in dollars, coupled with the ineffectualness of steps taken by regulative governments, every bit good as the rapid growing of Bankss over the last decennary. The earnestness of these jobs, evidenced by recent defaults of four Kazakhstany recognition establishments, including two of the top four systemically of import Bankss JSC BTA Bank and Alliance Bank. At interest are in default of BTA Bank, Alliance Bank, JSC Temirbank and Astana Finance histories for about tierce of entire outstanding loans of the banking system, and their coverage rates of gross debatable assets ( GPAs ) and loan losingss on colonies of Financial Institutions # 8217 ; Association of Kazakhstan will be significantly higher than the norm for the system. In footings of Financial Institutions # 8217 ; Association of Kazakhstan in the following few old ages the banking sector in Kazakhstan will be subjected to hazards associated with the quality of assets and refinancing. Even if conditions improve, and economic growing sketchs, Bankss can non rapidly get by with the jobs caused by their aggressive enlargement in the loaning market in the recent yesteryear. [ 8 ] Chapter III. PROBLEMS AND PERSPECTIVES OF DEVELOPMENT OFBanking SYSTEM OF THE REPUBLIC OF KAZAKHSTAN The crisis of the universe fiscal system which has begun in 2007, has negatively affected the development of fiscal sector of Kazakhstan. Most distressingly it was reflected in bank system of the state. Following negative inclinations have started to be shown: lessening in possibilities of domestic Bankss to affect external fiscal resources lead a decrease of volumes of crediting of internal economic system ; lessening in rates of growing of actives and decrease of volumes of capitalisation of Bankss ; were jobs with refund of external duties. Each of the listed factors is in itself of import and, anyway, influences working of two-tier Bankss. But their set leads to system failures and threatens effectual work of fiscal sector as a whole. Therefore the steps accepted by the Government, National bank and Financial Supervision Agency of RK on their riddance became overriding stairss on overcoming of the crisis phenomena in national economic system. [ 9 ] Harmonizing to the bulk of bank experts, officially get downing of fiscal crisis in Kazakhstan it is necessary to see the September, 2007. Throughout 2008 lessening in indexs of bank sector, in comparing with the old periods was more than obvious. After considerable growing of crediting in 2006-2007, in 2008 rates of crediting have decreased more than in 2 times. But jobs with a recognition portfolio in first half of 2008 were nt such obvious yet. For June, 1st, 2008 the portion of hopeless credits were 1,65 % , against 0,7 % for June, 1st, 2007. By that minute in the USA mortgage crisis has already burst, and the moving ridge of deficit of liquidness has covered all developed and emerging markets. In Kazakhstan during this minute was observed the acute deficit of support. So, from August, 2007 boulder clay February, 2008 index Kazprime reflecting the rate of interbank credits, has risen from 6,5 till 12,4 % that testifies to increase in demand at money resources and falling the offer. It is necessary to detect that as the most portion of loans has been given out in 2006-2007 besides the most portion of loans is necessary for this period. Mortgage crisis in America and lack of liquidness in the universe have led that Bankss could nt obtain external loans in sufficient volume any more against diminishing volumes of crediting. By this clip studies of the international evaluation bureaus draw non changeable chance for the Kazakhstan Bankss. So, Moody # 8217 ; s notices that addition of rates in the international debt markets for the long period can perplex refinancing for the Kazakhstan Bankss affecting agencies from abroad. Agency Standard and Poor # 8217 ; s passed an sentiment for a long clip frights of steady growing of external loans of Kazakhstan Bankss. By appraisals of S A ; P sounded in the beginning of 2008, the following 12 months on the refinancing intent to the Kazakhstan Bankss will be required 3 bln. dollars quarterly, and 70 % of refinanced duties will do the syndicated loans. Having jobs with a recognition portfolio and practically holding lost of the operative income, under external duties the largest Bankss of the state have arrived to margin call. In I one-fourth of 2007 the external debt of democracy at the disbursal of growing of external loans of a private sector has increased up to 95,7 % of GDP. Experts have nem con remembered that the Kazakhstan bank system # 8211 ; unique system which borrowed agencies in such measure. Equally much as possible external debt of commercial Bankss of the state has reached 46 billion dollars. In the 2nd half of the twelvemonth 2008 index Kazprime has fallen on former degree, but has nt relieved the Kazakhstan economic system and bank system of larger daze # 8211 ; the 2nd moving ridge of crisis which was already characterized non merely local jobs of Bankss, and force per unit area of their external debts upon all economic system of Kazakhstan. Expecting such class of events, the authorities in November, 2008 has suggested to bring forth pecuniary pillow and to assist backbone Bankss with volume of 5 bln. dollars by clip happening in construction of their portion capital. Technically the strategy looked so: Bankss let out extra volume of portions which the authorities through the authorized operator fund Samruk-Kazyna redeems for 5 bln. dollars, in the list of happy receiver of public financess are six Bankss among which were Kazkommertsbank, BTA, Halyk, Alliance, CenterCredit and # 1040 ; TF have entered. In sum, on all above-stated Bankss funding was necessary over 80 % of non natural sector of national economic system. Subsequently, because of support from the parent companies, # 1040 ; # 1058 ; F and CenterCredit have nt resorted to the aid of the province. The remained distances the unwritten consent. Harmonizing to the governmental program, in each of four Bankss the province portion in a portion capital will be 25 % . Occurrence procedure should busy no more than 2-3 months. The external debt of domestic bank sector has decreased for the terminal of 2008 to 39 billion dollars. From February, 2nd authorities session where were considered its joint actions with National bank and FSA on acquisition of portions of joint-stock company B # 1058 ; # 1040 ; bank and joint-stock company Alliance bank has taken topographic point. With a position of care of stableness and safety of bank system the authorities has established control at the above-stated fiscal establishments on personal for each of Bankss scenarios. The president of board of managers of joint-stock company B # 1058 ; # 1040 ; bank Muhtar Abljazov and the first deputy of the president of the board of joint-stock company B # 1058 ; # 1040 ; bank Zhaksylyk Zharimbetov were discharges of public presentation of official responsibilities by FSA determination, in connexion with a acknowledgment of their actions non matching to involvements of investors and creditors of bank and current statute law de mands. The main stockholder of bank Alliance # 8211 ; Financial corporation Seimar Alliance # 8211 ; has sold 76 % of common portions belonging to it to Fund Samruk-Kazyna for 100 tenge. On February, 4th National bank of RK made devaluation of national currency on 25 % with the established corridor 150 tenge per dollar, plus-minus 5 tenge. One twenty-four hours subsequently besides was decrease of refinancing rates from 10 till 9,5 % . Government happening in a fiscal place of two Bankss well becomes more active. In March within the bounds of a plan authorities assistance to Bankss the lower limit modesty demands decreased from 2 till 1,5 % on internal duties and from 3 till 2,5 % on other duties that allows to give liquidness to bank system at a rate of 50 bln. tenge. And on March, 27th, 2009 placing of 20,91 % of portions of joint-stock company Halyk Bank of Kazakhstan for the amount 27 bln. tenge in Fund Samruk-Kazyna has come to the terminal. By April, 1st the amount of an external debt of Bankss was decreased up to 35 bln dollars. Simultaneously FSA has already considers possibility of re-structuring of duties of some big Bankss. The Alliance bank was the first which declared about re-structuring. On April, 13th the bank direction officially declared impossibleness of refund of the debts under internal and external loans. The debts entire amount is defined in 4,5 billion dollars. Agency Standard and Poor # 8217 ; s has established recognition evaluations of the opposite number of bank on a grade SD # 8211 ; a selective default. The appraisal was based on the payment admittance on one of fiscal duties. Fitch Ratings has lowered a long-run evaluation of a default of the emitter bank from degree CCC to RD ( the limited default ) . A spot subsequently, on April, 20th, 2009, B # 1058 ; # 1040 ; bank declared about stay of payments on the basic debt to the creditors and about programs on re-structuring of external debts of bank. Agency S A ; P has decreased long-run and short-run recognition evaluations of B # 1058 ; # 1040 ; bank from CC/C boulder clay D ( default ) . Fitch Ratings besides has decreased evaluations of B # 1058 ; # 1040 ; bank from # 1057 ; # 1057 ; till RD . So started the first in the history of Kazakhstan procedure of re-structuring of Bankss external debts. It is necessary to detect that the Kazakhstan experience in this inquiry was specific plenty as in the universe community before a job with Bankss solved different ways. The most popular determination in the western pattern was to split Bankss on bad and good . This strategy was besides used in last determination of jobs with Bankss in Iceland and the Baltic states in 2008. The similar manner of re-structuring provided division of all portions on bad and good . Further was created a unvarying bank for toxic actives or unvarying bank for good actives . The Kazakhstan experience had differences and became in some step self-evident. The latest ( on November, 23rd, 2009 ) which declared about the re-structuring was Temirbank. Temir could nt do payment on November, 6th, 2009 for the amount 5,8 bln. tenge, and besides on November, 9th, 2009 for the amount 1,9 bln. tenge to the chief stockholder B # 1058 ; # 1040 ; bank. Besides Temir Capital B.V. could nt pay compensation for the 23,6 million dollars sum, capable to payment on November, 23rd, 2009 under the senior bonds. And in the interim the Alliance bank has already signed the understanding with commission of creditors. In the Alliance understanding were contained five options for creditors and was registered the future corporate construction of bank with the mechanism of realisation of re-structuring of debts. The given subscribing any more did nt go forth uncertainties in successful process of re-structuring of debts of Alliance bank. It is necessary to observe that Alliance and B # 1058 ; # 1040 ; in construction of external duties great volume of debts has had on such recognition merchandise as the trading funding, holding more hard construction, instead than the usual syndicated loan. Aggravated a state of affairs the fact that merchandising funding with engagement of export-credit bureaus occupied a considerable portion in a recognition portfolio particularly of B # 1058 ; # 1040 ; . Therefore, Bankss have already to reply for duties non private foreign company, but the province foreign company that gave to re-structuring procedure political colour. Bing in procedure of re-structuring in 2009, B # 1058 ; # 1040 ; bank the first from job Bankss which declared about possible happening of the strategic spouse in the capital. Till nowadays it is the Sberbank of Russia. By this clip the Kazakhstan none-bank fiscal organisation Astana-Finance has already declared a default. On the terminal of the first half of the twelvemonth 2009 the debt of B # 1058 ; # 1040 ; bank has been 2,5 trillion tenge, Halyk bank # 8211 ; 988 bln. tenge, # 1040 ; TF bank # 8211 ; 859 bln. tenge and Alliance bank # 8211 ; 786 bln. tenge. For five months 2009 losingss of all Kazakhstan Bankss have exceeded 2 trillion tenge. On September, 7th, 2009 B # 1058 ; # 1040 ; bank offered creditors four discrepancies of re-structuring of the debts the entire sum of which was 12 billion dollars. Harmonizing to the first discrepancy, it is offered to creditors to deliver a debt on 1 billion dollars for hard currency with price reduction of 82,25 % . The 2nd discrepancy provided protraction of debts for seven old ages with price reduction of 60 % and lessening in the rate of compensation with a five old ages hold. In the 3rd variant debt protraction for 15 old ages without price reduction, but with lessening in the rate of compensation with a 10 old ages hold was offered. The 4th discrepancy included an exchange of debts for portions with 80 % price reduction. The bank intended to re-structure 10,3 billion dollars debts and to cut down their entire sum to 8,2 billion dollars. However creditors suggest to compose off merely 4,9 billion dollars debt against the amount offered earlier by bank. Harmonizing to devel oped by plan bank, creditors have been divided into the senior bundle which included three options, and on younger, including two options. The Alliance bank has given to creditors on a pick five options. The first option # 8211 ; the refund for hard currency money with price reduction at a rate of 77,5 % . The 2nd meant seven-year protraction with price reduction of 50 % on the reduced involvement rate, with amortisation of the basic debt upon expiration of 4 twelvemonth discriminatory periods. The 3rd option # 8211 ; payment of debts face value, but in 7 old ages of a discriminatory period during the undermentioned 10 old ages. The 4th option included debt payment at a face-value within 13 old ages after 10 old ages of a discriminatory period. The 5th option # 8211 ; change overing of debts of creditors in a bank portion from 75 to 80 % . Re-structuring of Temirbank was more simple because the portfolio of duties was little. In last months of 2009 continuing decrease of a portion of standard credits and growing hopeless, and besides growing of disbursals on formation of commissariats became a chief cause of impairment of the basic indexs of bank system. Such inclination, harmonizing to experts, evidently does nt attest the recover of bank sector of the state. However intelligence about successful re-structuring of the largest Bankss install optimistic hopes. Many bank analysts believe that Alliance bank, and B # 1058 ; # 1040 ; bank can successfully pass re-structuring, and remains to merely a few clip before terminal of this procedure. On the terminal of 2009 the external debt continues to do 39 billion dollars, and degree of job credits in a cumulative portfolio exceeds 30 % . Banks, in position of shutting of external beginnings of support, were reoriented on place market. From the beginning of 2009year growing of depositary base in malice of the fact that in all 2009 bank sector of RK still uses misgiving from evaluation bureaus is observed. On March, 30th, 2010 the first about re-structuring terminal declared Alliance bank. As a consequence of procedure the bank has written off about 3,5 billion dollars debts, the volume of duties was reduced from 4,5 billion dollars till 1,08 billion dollars. As a consequence the construction of stockholders has changed besides. So, 67 % of bank portions are at fund Samruk-Kazyna, 33 % # 8211 ; at creditors who are distributed between two thousand the minority stockholders any of which has no portion more than 3 % of portions. Already on July, 1st Temirbank declares that has executed all necessary payments for terminal of re-structuring of debts. As a consequence the bank has reduced the debts about twice, from 1,4 billion dollars till 700 million dollars, and province fund Samruk-Kazyna # 8211 ; 79,9 % became its chief stockholder. 20 % more of portions remained with creditors, and an order of 0,1 % # 8211 ; at former stockholders. The last, on September, 1st, 2010, re-structuring procedure has finished B # 1058 ; # 1040 ; bank. By its consequences the bank debt was reduced from 12,2 to 4,4 billion dollars. After re-structuring creditors became stockholders of bank, and on their portion 18,5 % of a portion capital are coming. Fund Samruk-Kazyna is the basic stockholder having others of 81,48 % of a portion capital of bank. On a portion of monitaries 0,02 % of portions are coming. As experts now ascertain, the Kazakhstan bank system has sustained the crisis, and a crisp stage is behind. Many Bankss have already developed and adhere to new more conservative scheme of development. However the bank sector is still deprived a possibility of top-quality carry out of the basic map # 8211 ; to finance of economic system. Deficit of dependable borrowers is felt in each bank. In malice of the fact that the bulk of Bankss predict addition in a recognition portfolio at 5-10 % till the terminal of the twelvemonth, upon their loan portfolio continues to diminish. [ 10 ] Early to state that universe fiscal crisis is finished besides it became irreversible. Risks still remain, and Kazakhstan as the portion of universe economic system, besides can be capable to perennial moving ridges of this phenomenon. At the same clip the experience developed in the state, shows, it is impossible what to loosen up and it is necessary to set about the preventative steps, capable to protect a state fiscal system henceforth. The Concept of development of fiscal sector of Republic Kazakhstan during the station crisis period confirmed by the Decree of the President on February, 1st, 2010 is one of such steps. All perspective waies of development of fiscal sector are in item sufficiency registered in the given papers on the close hereafter. As a whole, the Concept solves following jobs: addition of stableness of fiscal sector ; creative activity of conditions on a non-admission of deficiencies, factors of instability and the phenomena which have been found out during current fiscal and economic crisis ; stimulation of investing activity during the station crisis period as tool of realisation of macroeconomic determinations ; trust beef uping to fiscal sector of the state both from investors, and from consumers of fiscal services. Within the bounds of the determination of a undertaking in position the chance of development of fiscal sector of the state will be connected with usage, both internal resources of economic system, and external loan. Thus the precedence will be given to the first devising. Besides, the function of the province sing supervising and ordinance over a fiscal system will magnify. It is connected so that at early phases to uncover, prevent and overcome system hazards and their shows. From the province processs on care of a transparence of the activity which is carried out by the fiscal organisations, protection of investors and consumers of fiscal services will be carried out besides. Precedences in station crisis development of fiscal sector of Kazakhstan become usage of institute of state-private partnership as the basic mechanism of funding of develo