KEY STRATEGIES FOR MANAGING FINANCIAL CRISES

The article investigates the main strategies for regulating financial crises. It is noted that it is impossible to completely avoid or prevent financial crises. When analysing anti-crisis measures, it is worth distinguishing between the phases of containment and overcoming systemic re-structuring. During the containment phase, the financial crisis is still unfolding. In this phase, governments typically implement policies aimed at restoring public confidence in order to minimise the impact of the loss of confidence of depositors and other investors in the financial system for the real economy. The settlement phase includes actually financial and, to a lesser extent, operational restructuring of financial institutions and corporations. Although policy measures to respond to a crisis are naturally divided into immediate measures at crisis containment stage and long-term measures to overcome the crisis, immediate measures often remain part of the long-term policy measures. It is determined that it is the analysis of macroeconomic indicators at the national level that is the litmus test that can identify the preconditions for global economic crises. An analysis of two main methodologies for the formation of a system of indicators for forecasting economic crises is carried out. It is argued that the largest financial crises and their impact on the real economy are associated with banking crises. The strategies developed by various institutions/groups in response to the financial and economic crisis are singled out and analysed. It is worth paying attention to the potential triggers of a possible next financial crisis. Worst of all, cybersecurity poses unique risks as financial services are increasingly provided online. It is concluded that each country should determine the set of measures that best suits its needs. Greater exchange rate flexibility, a strong monetary policy capable of containing inflationary expectations, stronger risk management, and the development of financial markets, including in the context of regional financial integration, are among the most important policy measures that can help national and regional financial systems cope with risks.