Global Threats and Challenges to the National Financial Security under the COVID-19 Pandemic

The chapter focuses on global challenges and threats to national financial security in the context of geopolitical tensions and the COVID-19 pandemic. An urgent methodological task is to form a study of national financial security through its global dimension, namely, through the prism of analyzing the structural transformation of the global financial market into national financial security and the integration of countries with emerging markets into global financial security based on market instruments. The chapter provides a comprehensive review of financial flows. It allocates financial flows in the following areas: (1) analysis of the dynamics of the central bank in relation to financial risks and the onset of global financial crises and (2) the development of indicators of financial shocks (stresses) calculated to assess the instability of the financial system. The authors used analytical materials from the International Monetary Fund, the World Bank, the Central Bank of Russia, the Federal Financial Monitoring Service, other international organizations, and interdepartmental and intergovernmental organizations of the Russian Federation. Additionally, the research provides an overview of Guidelines for the Advancement of Information Security in the Financial Sector for 2019–2021 by the Central Bank of the Russian Federation.