THE ROLE OF BANKS IN THE FINANCIAL CONTROL SYSTEM

The financial sector has become the most important factor in the last two decades as a result of globalization and technological development. As a result, financial products increased, operating boundaries expanded, and new financial markets emerged. These developments increased and diversified the risks that the banking sector had to manage. Poor governance and a lack of risk control have led to global financial crises. In a modern market economy, the state applies a system of financial control to ensure the development of the economy, to protect it from potential negative effects, to prevent crisis risks. At the same time, it provides current and periodic control to regulate monetary policy and ensure balance by using the services of investment and commercial banks, especially the policy of the Central Bank. Only well-structured commercial and investment banks can meet this requirement, as comprehensive supervision of the financial market requires an extensive database. For this reason, the development of the working principles and database of actual banks operating in the financial market keeps the relevance of control systems. The main purpose of the article is to study the position of investment and commercial banks in the system of financial control in our country and abroad, the effectiveness and efficiency of data collection, and analysis functions arising from their activities in financial markets nowadays. The article did an empirical analysis based on the Eviews program and revealed a link between the level of unemployment and the level of inflation. A Dickey-Fuller test (ADF) was conducted which allows us to test the null hypothesis that a unit root is present in the time series of a sample. All these aspects require additional efforts of the Central Bank both in terms of assessing the situation in banks and making relevant recommendations. This work should be carried out jointly with the World Bank in the framework of international projects for the reconstruction of the country's banks.