This study was aimed at developing a cognitive—econometric model for assessing the effectiveness of the current governmental policies to support enterprises in Russia in the context of pandemic propagation. Using the Granger test and correlation analysis, we formed a system of key indicators that characterizes the economic development of SMEs (small and medium-sized enterprises) in Russia. Based on the revealed causal relationships and correlation coefficients, a model describing the impact of public policy support instruments on SME economic development was built using cognitive modeling. By means of the additive convolution method, the correlation coefficient between the Russia Small Business Index (RSBI) and the COVID-19 prevalence rate was used to predict the 2020 year-end RSBI value. Regarding the RSBI index forecast, the effectiveness of instruments of the state support for SMEs was evaluated. It was determined how much these indicators of the anti-crisis package of measures should change to increase SMEs’ business activities. The developed cognitive model can be utilized by private and governmental institutions to continuously monitor the effectiveness of public policies that support SMEs. It can also be used as a preventive indicator to evaluate the impact of the anti-crisis measures during pandemics and in the case of other exogenous risks threatening SMEs. The originality of the research results was determined by the econometric methods applied to empirically assess the effectiveness and degree of impact of governmental measures on the operation of SMEs under conditions of uncertainty.

The insurance market of the Russian Federation is currently demonstrating the trend of slower growth rate of insurance premiums and problems, rising in certain sectors. The loss ratio of insurance operations is increasing along with reducing profitability of internal funds and assets, operational costs are growing. All these factors affect the financial stability of insurance companies and reduce the profitability of insurance business. There is no doubt that maintaining financial stability of insurance companies in the Russian insurance market under current conditions is an extremely important issue since this sector maintains stability of economic subjects in the most difficult economic situation, ensures the continuity of social reproduction and acts as the main provider of long-term investments to the country's financial market. To keep their position on the market, the insurance companies should pay special attention to maintaining stable positive cash flow and reducing the cash outflow. The approach to cash flow management in the insurance company proposed in the article accounts for existing challenges and opportunities can maintain the financial equilibrium of the company and can improve the efficiency of performance as well as reduce the need for debt capital and the insolvency risk of the insurer. The purpose of work is to identify the problems of financial stability and cash flow management in the insurance company and to develop practical recommendations aimed at addressing these problems based on generalization of the theoretical aspects and analysis of financial indicators. The scientific novelty of the research is in developing theoretical and methodological provisions and elaborating practical recommendations in the field of the insurance company's cash management in order to ensure financial stability.

Financial globalization definitely has an overall effect on globalization in the banking sector. This is reflected in averaging of banking risks for all parties, which occurs due to the impact of the markets, economies, private corporations and monopolies as well as states on each other. As a result, just the opposite priorities in monetary policy may have the same beneficial effect. The aim of the study is to develop conceptual scientific and methodological research areas concerning diversification of banking risks in the context of financial globalization. As part of a comprehensive analysis of the resulting indicators of financial and economic activities of the Russian banking sector, the authors have assessed the key financial performance of the major lending institutions of the Russian banking system in order to identify the dependence of the Russian banking sector on external factors. Financial globalization in general, of course, affects the globalization in the banking sector in particular. This is reflected in averaging banking risks for all parties to the process as a result of the integrative impact of markets, economies, private corporations and monopolies. In this study the authors have presented the mechanism of integrative motion of economic processes with regard to the financial globalization impact on the results of the countries' monetary policy. Development of market relations and rapid financial globalization lead to permanent transformations of risks that require new approaches and methods of management.

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The relevance of the study topic is determined by the high importance of rational cost management for the successful functioning of airlines in the event of a crisis and uncertainty of financial results. Today, one of the important factors, that determine the ability of firms, their seeking to supply products to the market, and provide services, are the costs (expenses) of production and sales. In the conditions of the transition of the Russian Federation to a model of a market economy, the issue of minimizing the expenses of an enterprise is becoming more and more relevant, since, in a market economy, each enterprise tries to use its finances as efficiently as possible to make a profit. In the past few years, there has been a tendency of growth in the costs of enterprises, associated with an increase in the cost of materials, raw materials, an increase in the cost of energy sources, etc. For this reason, market relations require the improvement of the cost management complex at enterprises, taking into account their industry characteristics and existing international and Russian experience, which, in turn, will help companies to increase the efficiency of their work in a competitive environment, i.e. maximize profits and minimize costs to ensure high profitability of their business. For this, enterprises need to conduct a competent analysis of their expenses, charges, analyze various types of costs, and take measures to minimize and optimize them. The relevance of the topic lies in the fact, that in modern conditions of economic development, it is necessary to pay special attention to reducing and optimizing the costs of an enterprise. The subject of this study is the economic relations, arising in the process of cost management at "Ural Airlines" and their influence on financial results in the event of a crisis and uncertainty.

The current stagnation in the development of the Russian stock market determines the need to master new investment instruments or to improve the activities of existing ones. The development of global stock markets clearly emphasizes the “immaturity” of the Russian stock market. Present situation indicates the need for the introduction and development of new investment instruments. This fact encouraged the development of ETFs in Russia. Russian ETFs have a relatively short story, but this does not prevent them from expanding the scope of activities, gaining momentum and demonstrating a high degree of profitability, which is a significant competitive advantage over other unit investment funds. The study offers the overlook of exchange-traded investment funds’ activities as a hybrid with foreign ETFs and an alternative to Russian domestic unit investment funds, which reach a high level of profitability in modern conditions.

Diversification of financial activity involves the use of alternative income opportunities from various financial transactions

Subject of this research are the economic relations arising in the course of assessment of financial stability of banking system of Russia. The banking system has a key impact on the functioning of the entire economic system as a whole under current unstable conditions of economic development. Banks will regularly mobilize and redistribute huge number of money, for the purpose of increase in efficiency of their use. Violations in processes of their operation often lead to destabilization of implementation of financial transactions for the majority of economic subjects that promotes blasting economic relations between them and, as the result, to emergence of threats of economic safety of the country. Signs of instability of the banking system begin to manifest heavily in crises, where the following trends are observed: the total quantity of the operating credit institutions rapidly decreases; their indicators of capital adequacy worsen; liquidity level decreases; the quality of assets worsens; the share of back payments raises, as a result, the banks receive the money untimely, they have their profitability reduced and there are losses, and, finally, the unstable banks stop the activity. Purpose of the study: identification of problems of assessment of financial stability of banking system of Russia, and development of the possible practical measures directed to their decision. The methodological basis of this research includes such methods of scientific research, as comparative analysis, induction, deduction, the analysis and synthesis, the logical, economical and statistical methods of scientific perception and scientific abstraction. Keywordsmethodology, assessment, financial stability, banking system. I. II. RESEARCH METHODOLOGY Numerous approaches to assessment of the bank financial stability can be divided into two main groups: the regulatory and the rating-based ones. Regulatory approach is applied mainly by the banking sector regulatory bodies. It is caused by existence at them of powers and functions on establishment of the requirements