Current trends of transnational banks and their influence on the world economy in the context of financial globalization

Financial globalization is the development of global financial markets, the growth of cross-border capital flows and increased activity of international financial organizations. At the same time, speaking of financial globalization means the free movement of capital between countries. A key feature of international banking is the strengthening of transnationalization in the context of financial globalization. As a result of this process, at the present stage of the development of the world economy, there is no net national banking capital in any state of the world. Transnational banks are one of the main actors in the world economy. They occupy a leading position in the international financial market and are the participants in the globalization process in the financial sphere. Thus, the international financial system has become for transnational banks the so-called arena of activity of «financial giants» as transnational banks. The combined capital of multinational banks is easily transferred from one state to another with the most controversial consequences. On the one hand, consolidated capital becomes a driving force for the development of STP (scientific and technological progress) on the world stage, and on the other hand for severe global crises transforming into speculative capital. The importance of transnational banks both in the economic environment of an individual state and in the world economy as a whole is growing rapidly. One of the important roles that transnational banks play is the role of an intermediary between financial means owners and investors who, in order to implement international business activities, borrow capital from TNB. Usually, the arrival of transnational banks on the foreign market becomes a certain stimulus factor for the restructuring of the banking system of the host country. This is manifested in an increase in the concentration of bank capital or the creation of a strong competitive environment among local banking institutions. Moreover, very often host countries make a big mistake in implementing too liberal risk policies to maximize income, in which case transnational banks can cause a crisis in the country, and thus become characteristic causers of financial fluctuations that can eventually lead to the inequality of the world's banking systems