Gerashchenko Victor Vladimirovich Biography

Victor Gerashchenko, without exaggeration, is a common name. The rarest case-he is equally authoritative both among professionals-bankers, banking employees, and financial specialists, where heracles has long been called “Hercules” and among the townsfolk, where his explanations or comments are perceived as truth in the last instance. What is the phenomenon of Viktor Vladimirovich?

Let's try to figure it out or at least touch the block named Hercules ... Born on December 21 in Leningrad. Mother - Gerashchenko Klimova Anastasia Vasilievna Daughter - Tatyana Viktorovna Lenin, works in an insurance company. Son-Gerashchenko Konstantin Viktorovich G. C for a year, he worked as an accountant, inspector, expert of the department of external and internal calculations, head of the department of foreign exchange and cash transactions of the USSR Vneshotorgbank.

In the year, his first foreign business trip to London took place, and after 2 years, summer Gerashchenko became the director of the Moscow People’s Bank in London, the largest Soviet credit institution abroad. Over the next almost 20 years, he worked as deputy chief with a short break in the years, the head of the Department of Cash Cash Translations of the Executioners of the USSR, he led Soviet credit institutions abroad: he was deputy manager, and then the manager of the Moscow People’s Bank in Beirut; Chairman of the Board of East-West Handelsbank in Frankfurt-on-Main; The managing department of the Moscow People’s Bank in Singapore, not counting a few months of business trip to Zurich.

If we talk about the real convergence of the capitalist and socialist economic systems, then it was the Vnedorgbank of the USSR, the Moscow People’s Bank, Donau-Bank, East-Vor Khandidesbank and Eurobank were its personified carriers, working according to the Western rules of banking business. In the year, Viktor Gerashchenko was appointed head of the foreign exchange department of Vneshotorgbank.

From the year - Deputy, First Deputy Chairman of the Board of Vneshotorgbank of the USSR, oversees issues of the country's foreign exchange plan and payment balance. Together with Gerashchenko, many high -class specialists worked who began their careers under his leadership. Most of them still had to leave and return to the main bank of the country at different times and become what would subsequently name the Gerashchenko team.

On the account of this team in the years: the first private bank, the first open issue of the banking shares of the Menatep KB, the first currency exchange, the first transactions on the interbank currency exchange, the opening of information about the release of money in circulation - all these mechanisms still work. The Gerashchenko team will have many more “first”.

And the first “cash” exchange point, and the world's first “banking” companion, and the first external audit of the Central Bank, and the first privatization of the Council of People's Commissars in Luxembourg, and the first woman in the history of Russia is Tatyana Paramonova - at the head of the National Bank. In the years, the State Bank refused the quarterly credit and cash regulations, and began to engage in the development of a system of commercial banks.

The new period in the history of the bank, related to the transfer of the banking system for self -financing and self -financing, which began in the year, was fraught with several shocks. During the implementation of economic reform, it became obvious that its success requires the creation of an independent, outside other structures of the authorities of the Central Bank as a single emission center of the country responsible for ensuring the protection and stability of the ruble.

After this decision, V. Gerashchenko worked for a short time in the International Reform Foundation, together with academicians L. Abalkin and S., meanwhile, the Central Bank of the Russian Federation for decades was in the center of dramatic events in the economic, political spheres of the life of Russian society. Twice at the head of the bank Viktor Gerashchenko became, and both times - at the moments of a special intensity of political events.

The first time he headed the Central Bank in July, when the confrontation between the Congress of People's Deputies and the President has already reached the peak. The second is immediately after the default of the year.

Reformers quickly lost the confidence of the population, and the growth of social tension approached the dangerous line. Politics gained a clear advantage over the economy. It was at that moment that President Boris Yeltsin agreed to serious personnel changes. Representatives of industrial circles George Hizh, Viktor Chernomyrdin and others appeared in the government, and as chairman of the Central Bank Viktor Gerashchenko, the last chairman of the Union State Bank.

A number of constructive steps were taken in the reform of monetary circulation and the banking sector. However, it was impossible to reanimate ruble circulation, not having the final form of the civilized currency market. The notorious “black Tuesday” was followed on October 11. Gerashchenko was forced to resign: a sharp drop in the ruble course was a very good reason to blame the current team of the Central Bank.

After the resignation of Gerashchenko, he remained to work in the Central Bank system by a scientific consultant.In the year, Viktor Gerashchenko headed the International Moscow Bank - the first Russian bank with a predominance of foreign capital in the authorized fund. The return of Viktor Gerashchenko to the Central Bank took place in the fall of the year: it was to him that the president and the government entrusted him to withdraw the country's financial system from the crisis.

Defolt seemed to paralyze the country's economy. After Gerashchenko’s approval as chairman of the Central Bank, he took a tough position on personnel issues. The Gerashchenko team, unlike the previous team, was not politicized. An anti -crisis program was proposed - "The program of restructuring the banking system." As the head of the Central Bank Gerashchenko, he took a set of measures to stabilize the monetary and financial system of the country and streamline the overall movement of financial resources and capital.

So, among the priority steps of Viktor Gerashchenko, the anti-crisis management of the credit and money system was the cancellation of the provision that required the implementation of export transactions either on the terms of prepayment, or with the opening of the letter of credit before delivering, or to provide the guarantees of banks that register the passport of the transaction in the context of the financial crisis, and this document could essentially plan with Russian export.

The abandonment of meaningless expenses to support the ruble exchange rate and the introduction of a floating course was not slow to affect the general economic situation in the country. Russia restored its renom in international financial markets. Under the leadership of Viktor Gerashchenko, the Central Bank consistently pursued a policy of a flexible currency exchange rate aimed at maintaining the internal prices stable in relation to the dollar, taking into account inflation.

The main landmark of the monetary policy of the Central Bank was a smooth reduction in inflation. The policy of gradual reduction in the refinancing rate has really begun. The ruble exchange rate was actually fixed, although declared by floating. The mandatory reserves have become an effective way to reduce inflation, which deprived the banks of the opportunity to speculate in the foreign exchange market, destabilize the exchange rate of the ruble.

The Bank of Russia tightened control over how credit organizations form mandatory reserves, their timely replenishment. The Central Bank used other liquidity management tools, such as refinancing. Under Gerashchenko, a project to lend banks and the key to bills began to be implemented. However, the International Monetary Fund opposed this practice, seeing in it a disguised direct lending to the Central Bank of Industry.

Having shown diplomatic abilities and perseverance, Viktor Gerashchenko still managed to organize such refinancing on the basis of the Main Directorate of the Central Bank in St. Petersburg in the form of a “pilot” project in the year. Having removed “hot” rubles from the appeal by increasing the obligatory reserves, regulating interest rates on its credit and deposit operations, the Central Bank simultaneously tried to redirect financial flows to the real sector, reducing refinancing rates, forcing banks to provide cheaper loans to producers.

During the leadership of Viktor Gerashchenko, the Goldoval Mountain Reserves of the Central Bank increased four times. Largely thanks to the position of the Chairman of the Central Bank, he retained his independent status. And the spring of the year is a resignation. According to most observers, a fierce campaign “Hercules team” against amendments to the law on the Central Bank, which, in the opinion of Gerashchenko, was a formal reason for the dismissal of the Chairman of the Central Bank, the Bank of Russia of real independence and giving it to the power of the National Banking Council.

The latter, as Gerashchenko was afraid, will be composed of departmental and political lobbyists. Here are fragments of the speech of Viktor Gerashchenko in the State Duma. I recall the historical truth that sounds: be afraid of the Danais, the gifts of the bringing. And you are slipped by different tables in which you can get bogged down at the end of a difficult day, when no less important laws are discussed so that you vote from the condach.

It is necessary, they say, to put some control bodies over the Central Bank and its leadership, since the Central Bank is accountable to the Duma, and members of the board of directors are appointed to the Duma at the suggestion of the president. Therefore, when you say that this is done in the interests of some kind of transparency, you are again misleading. Any sane economist who knows how to read the annual balance of the Central Bank can draw all the necessary correct conclusions.

Specialists of the International Monetary Fund believe that our balance is no worse than the balances of other countries ... What they try to slip to the vote contradicts the Constitution. And therefore, we were forced to the Central Bank with all responsibility, without any fear that the term of powers of the main composition of members of the board of directors ends in September, to write to the president that they want to “substitute” him and he should not allow it, otherwise he will have to either sign the anti-constitutional law adopted in a hurry, or impose a veto on it, which was probably not quite correctly ...

”Having passed the case to the new chairman of the Central Bank, V. Gerashchenko works Advisor. Often performs in print. In the December 7 elections, he was elected deputy of the State Duma of the Russian Federation. Honorary Doctor of Economics of the Moscow Financial Academy. He loves modern literature, cinema. From youth, Viktor Vladimirovich is fond of basketball.

Lives and works in Moscow.