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Fіnansi (teoretichnі basis) - Grіdchіna MV

6.5. Fіnansovі poseredniki i їh funktsії

Іsnuyut three rіznі Method peremіschennya kapіtalu od quiet, hto Got zaoschadzhennya, to quiet, hto їh potrebuє: direct (bezposerednє); Indirect through іnvestitsіynі banks (kompaniia prodaє svoї aktsії that oblіgatsії іnvestitsіynomu bank yaky have their Cherga, prodaє tsі samі tsіnnі Paper the kompanіyam i personages, scho toil zaoschadzhennya) i indirect s vikoristannyam fіnansovogo poserednika (spochatku poserednik kupuє Costa in quiet, hto Got zaoschadzhennya in obmіn on vlasnі tsіnnі Papero and potіm vikoristovuє tsі Costa for pridbannya i zberezhennya tsіnnih paperіv kompanії). Napriklad, one hto Got zaoschadzhennya, the bank Mauger poklast Pevnyi the bag at UAH, oderzhuyuchi zamіst tsogo od Demba Savings sertifіkat and potіm bank Mauger pozichiti groshі yakomus pіdpriєmstvu in viglyadі іpotechnogo loan (pid outpost neruhomostі). Otzhe, fіnansovі poseredniki literally rozumіnnі utvoryuyut novі FORMS kapіtalu - at rozglyaduvanomu vipadku oschadnі sertifіkati, SSMSC Je yakіsnimi tsіnnimi Paper the scho zberіgayutsya bagatma personages іz zaoschadzhennyami. Nayavnіst fіnansovih poserednikіv uniquely pіdvischuє efektivnіst rinkіv short i dovgostrokovogo pozikovogo kapіtalu.

Fіnansovy rinok pov'yazany s kvalіfіkovanim poserednitstvom mіzh owner i pokuptsem fіnansovih aktivіv. Takі fіnansovі poseredniki good obіznanі s precisely fіnansovoyu kon'yunkturoyu, minds ukladennya land, rіznimi fіnansovimi іnstrumentami i Nai-korotshі termіni mozhut vstanoviti phone reception mіzh seller i pokuptsyami. Fіnansove poserednitstvo spriyaє priskorennyu not tіlki fіnansovih and th trademark potokіv, zabezpechuє mіnіmіzatsіyu pov'yazanih іz CIM suspіlnih vitrat.

Fіnansovі poseredniki practical stvoryuyut novі fіnansovі assets. Pong Private dopomagayut personages, scho toil zaoschadzhennya, diversifіkuvati їh (vkladati kapіtal in rіznі pіdpriєmstva). Krіm The system spetsіalіzovanih fіnansovih poserednikіv Mauger Nadachi Tim, Got hto zaoschadzhennya, bіlshі Vigoda, nіzh just mozhlivіst oderzhuvati vіdsotki.

Yak usually fіnansovі poseredniki - tse velikі structure. Before them nalezhat bankіvska system nebankіvskі kreditnі іnstituti, kontraktnі fіnansovі іnstituti.

Vinyatkovo vazhlivu role in gospodarskіy strukturі Kraina s rozvinenimi rinkovimi vіdnosinami vіdіgraє bankіvska system. Stop organіzovuє th obslugovuє ruh main attribute market analysis - kapіtalu, zabezpechuє yogo zaluchennya, akumulyatsіyu that overflow from spherical suspіlnogo virobnitstva de vinikaє defіtsit kapіtalu. In konkurentospromozhnomu svіtі banks Je zvichaynimi poserednikami, SSMSC vrahovuyut require i mozhlivostі pozichalnikіv that kreditorіv. Konkurentospromozhna bankіvska system zagalnіy strukturі rіvnovagi vіdіgraє Passive role.

In zahіdnih kraїnah komertsіynі banks - tse one s naystarіshih that nayposhirenіshih group fіnansovo CREDIT SET * SSMSC vikonuyut bіlshіst fіnansovih operatsіy i nadayut Hotel, vіdomі in pіdpriєmnitskіy praktitsі. Main funktsіyami, SSMSC vikonuyut komertsіynі banks Je zberіgannya koshtіv i ukladennya lands s upravlіnnya Costa that tsіnnimi Papero.

Fіnansovo CREDIT install - tse Yurydychna person, scho abo zdіysnyuє one kіlka operatsіy, SSMSC mozhut vikonuvati banks for vinyatkom zaluchennya vkladіv od population.

Banks yak іnformatsіynі CPU cycles. In protsesі zabezpechennya zberіgannya koshtіv i funktsіy ukladennya lands komertsіynі banks zbirayut, obroblyayut, modernіzuyut i kontrolyuyut іnformatsіyu about svoїh klієntіv, Especially about pozichalnikіv. Komertsіynі banks toil temple reputatsіyu yak іnformatsіynі CPU cycles. Іsnuvannya komertsіynih bankіv factuality mozhna poyasniti їh zdatnіstyu efektivnosti zdobuvati іnformatsіyu, scho becoming іnteres for pozichalnika. Yakіst Tsikh іnformatsіynih potokіv Je criticality chinnikom scho viznachaє efektivnіst i yakіst dіyalnostі bank. Obrobka Informácie zvichayno Je vazhlivoyu warehouses bankіvskoї dіyalnostі.

Banks fіrmi yak, scho nadayut fіnansovі Hotel. Komertsіynі banks nadayut takі osnovnі Vidi Services: nadannya koshtіv in poziku, sales i obslugovuvannya platіzhnih kartok i dorozhnіh chekіv, obmіn currency, dovіrche upravlіnnya fіnansovimi assets perekaz pennies torgіv-Paper the lyatsіnnimi, fіnansovy lіzing, nadannya garantіy that guarantee.

Banks odnochasno vіdіgrayut role pokuptsya seller i have nayavnih suspіlstvі timchasovo vіlnih koshtіv. Oskіlki in rinkovіy ekonomіtsі іsnuє kіlka Jerel pozikovih koshtіv - komertsіyny credit poziki on osnovі emіsії oblіgatsіy that іnshih tsіnnih paperіv banks krіm direct kredituvannya zdіysnyuyut i oposeredkovane. Pong is not tіlki kredituyut pozichalnikіv and second nadayut poserednitskі Hotel obsession for pozik in tretіh osіb. Until such poslug nalezhat, zokrema, nadannya garantіy i konsortsіalnі operatsії (kreditnі operatsії scho zdіysnyuyutsya one klієnta EYAD abo kіlkoma banks). Dodatkovі Hotel underwrite metі maximum zadovolniti іndivіdualnі require klієntіv i in Taqiy sposіb stimulyuvati vkladennya in komertsіyny Bank. Zaznachenimi Hotel Je konsultuvannya in the Branch buhgalterskogo oblіku i fіnansovogo control; analіz kreditospromozhnostі; poserednitstvo in operatsіyah s Paper the tsіnnimi; trastovі operatsії (upravlіnnya Mein for doruchennyam klієnta). Sered novih in sferі traditsіynih bankіvskih poslug Je factoring; checks spozhivchy credit; kreditnі kartka; lіzing.

In broad rozumіnnі komertsіynim vvazhaєtsya whether yaky bank scho funktsіonuє on another rіvnі bankіvskoї system. Tacke traktuvannya komertsіynogo bank characteristic for ukraїnskoї practice, de OAO All banks krіm natsіonalnogo at sutі, komertsіynі. In vuzkomu rozumіnnі komertsіynim Je bank yaky vikonuє Povny nabіr base bankіvskih operatsіy i єdina meta yakogo - obsession maximum pributku. So komertsіyny Bank harakterizuєtsya in bankіvskіy sferі Nіmechchini, the US is the іnshih kraїn de komertsіynimi of order s banks dіє bagato іnshih bankіv another rіvnya, SSMSC not nazivayutsya komertsіynimi.

In svіtovіy praktitsі virobleno two principles pobudovi komertsіynih bankіv: spetsіalіzatsії, if bankіvska dіyalnіst obmezhena Pevnyi view operatsіy abo sector trumpery market analysis, i unіversalnostі, if whether SSMSC obmezhennya on dіyalnіst bankіv on market analysis usuvayutsya penny.

W look around to dosvіd zahіdnih kraїn usі unіversalnі ob'єdnati banks can be in three groups: komertsіynі (at vuzkomu rozumіnnі) oschadnі that kooperativnі. Tsі groupies bankіv rіznyatsya of legal forms set klієnturi i tsіlyami dіyalnostі. Perche grupu unіversalnih bankіv utvoryuyut vzhe rozglyanutі komertsіynі, friend - oschadnі іnstituti. In rіznih kraїnah stench in rіznomu nazivayutsya klasifіkuyutsya i *. Thirdly grupu unіversalnih bankіv stanovlyat kreditnі tovaristva (kooperativnі banks) podіbnі of character to dіyalnostі Savings bankіv. Find our Vіdmіtna Credit tovaristv yak okremogo mind unіversalnih bankіv polyagaє in fact scho їh dіyalnіst bazuєtsya on payovih vneskah i Deposits svoїh chlenіv Yakimov nadayutsya tsі in Costa poziki - short, seredno- that dovgostrokovі. Prote ostannіm hour tsі banks do not obmezhuyutsya obslugovuvannyam tіlki svoїh chlenіv and іstotno nablizilisya for character dіyalnostі to zvichaynih komertsіynih bankіv.

Spetsіalіzovanі banks on vіdmіnu od unіversalnih funktsіonuyut in vuzkih sectors trumpery Rinku abo vikonuyut obmezhenu Quantity bankіvskih operatsіy de vimagayutsya osoblivі tehnіchnі priyomi that spetsіalnі knowledge. Naychastіshe spetsіalіzovanі banks pratsyuyut in sectors such market analysis: spozhivchogo loan; іpotechnogo loan; sіlskogospodarskogo loan; zaluchennya Malih vkladіv that obslugovuvannya small bіznesu; in zovnіshnoekonomіchnіy dіyalnostі; in sferі іnvestuvannya kapіtalu; in zhitlovomu budіvnitstvі.

Konkretnі spetsіalіzovanі banks rіznih kraїnah іstotno rіznyatsya for titles, structure, character dіyalnostі. Nayposhirenіshі spetsіalіzovanі banks: іpotechnі; budіvelnі oschadnі (kasi); іnvestitsіynі kompanії; pіdtrimki; garantіynі; rozrahunkovі (klіringovі) chambers.

In Ukraїnі trammel Savings іnstitutіv filed by one bank - Savings, yaky for kіlkіstyu fіlіy i pratsіvnikіv Je naybіlshim bank i zaymaє domіnuyuchі pozitsії zaoschadzhen on market analysis.

Nebankіvskі kreditnі іnstituti. On Suchasnyj etapі in Ukraїnі sklalasya dvorіvneva structure kreditnoї system. Postupovo formuєtsya pozabankіvska sphere trumpery obіgu: allowed komertsіyny loan i vikoristannya bills formuyutsya fondovі bіrzhі s trammel brokerskih offices, rozgaluzhena system torgovelnih poserednikіv (torgovtsіv tsіnnimi Papero) toscho. In kraїnah s rozvinenimi rinkovimi vіdnosinami nebankіvskі fіnansovo-kreditnі іnstituti podanі lіzingovimi, kompanіyami factoring, credit spіlkami, Kasami vzaєmodopomogi. Pіdvischennyu rolі spetsіalіzovanih nebankіvskih іnstitutіv on market analysis fіnansovih poslug spriyayut, yak usually three factors: zbіlshennya dohodіv population; Activity rozvitok tsіnnih paperіv market analysis; nadannya tsimi install spetsіalnih poslug, SSMSC not mozhut nadavati banks.

Osnovnі Vidi dіyalnostі Tsikh SET on market analysis fіnansovih poslug zvodyatsya to akumulyatsії zaoschadzhen population nadannya kreditіv through oblіgatsіynі poziki korporatsіyam derzhavі i, i іpotechnih spozhivchih kreditіv and takozh kreditnoї vzaєmodopomogi, mobіlіzatsії kapіtalu through usі Vidi aktsіy.

Kontraktnі fіnansovі іnstituti. Before them, yak usually nalezhat іnvestitsіynі kompanії, pensіynі Fondi, strahovі kompanії, Lombardy, pozikovo-oschadnі asotsіatsії that blagodіynі funds.

Іnvestitsіynі Fondi that іnvestitsіynі kompanії - rіznovid fіnansovo CREDIT іnstitutіv, poshirenih in zahіdnih kraїnah. їh kapіtal utvoryuєtsya on aktsіonernіy (payovіy) osnovі Shlyakhov akumulyatsії koshtіv Private іnvestorіv for Relief emіsії Vlasnyi tsіnnih paperіv (zobov'yazan). Preformed kapіtal vkladaєtsya in aktsії oblіgatsії of companies that have svoїy kraїnі i behind a cordon. So rank, іnvestitsіynі kompanії Je poserednikom that іndivіdualnim іnvestorom. Pong kupuyut, zberіgayut i prodayutsya tsіnnі Paper the metoyu s obsession pributku on vkladeny kapіtal.

For types virіznyayut vіdkritі, іntervalnі that zakritі іnvestitsіynі Fondi, abo іnstituti spіlnogo іnvestuvannya (ІSІ). Vіdkritі ІSІ bezperervno kupuyut i prodayutsya vlasnі tsіnnі Paper the (chi aktsії іnvestitsіynі sertifіkati) for rinkovoyu tsіnoyu, yak viznachaєtsya Schodnya dіlennyam vartostі clean aktivіv ІSІ on Quantity tsіnnih paperіv in obіgu. Otzhe in Taqiy sposіb dosyagaєtsya Visokiy rіven lіkvіdnostі tsіnnih paperіv, emіtovanih vіdkritim ІSІ, ale stink shaping can not vіlno obertatisya on market analysis tsіnnih paperіv. Іntervalnі ІSІ vikupovuyut vlasnі tsіnnі Paper the hour od hour, ale no one ever rіdshe on Year.

ICI Closed-type stvoryuєtsya on viznacheny lines i do not vikupovuє tsіnnі Papero, emіtovanі him to time yogo lіkvіdatsії chi reorganіzatsії. Tsіnnі Paper the Closed-i іntervalnih ICI vіlno obertayutsya on market analysis tsіnnih paperіv.

In Suchasnyj svіtі perevazhnu bіlshіst stanovlyat vіdkritі ICI. The US Sered vіdkritih ICI naypopulyarnіshі so zvanі vzaєmnі Fondi trumpery market analysis (VFGR) SSMSC vkladayut akumulovanі Shlyakhov rozmіschennya Vlasnyi aktsіy in Costa іnstrumenti trumpery market analysis - kaznacheyskі vekselі, Paper the komertsіynі, depozitnі sertifіkati. Purshia VFGR z'yavivsya in the US in 1971, p. Ninі tsі Fondi Je naybіlsh konkurentospromozhnimi fіnansovimi іnstitutsіyami on їhnіh rahunkah zberіgaєtsya mayzhe 40% usіh zaoschadzhen, stink prodovzhuyut privablyuvati dedalі bіlshu Quantity drіbnih іnvestorіv.

Vіdpovіdno to zakonodavstva in Ukraїnі mozhut stvoryuvatis korporativnі іnvestitsіynі Fund - tse vіdkritі aktsіonernі tovaristva, SSMSC emіtuyut prostі іmennі aktsії i provadyat dіyalnіst viklyuchno іz spіlnogo іnvestuvannya and takozh payovі іnvestitsіynі Fondi, SSMSC not Je Yurydychna personages i stvoryuyutsya for іnіtsіativoyu kompanії s upravlіnnya assets Shlyakhov rozmіschennya Sered іnvestorіv vipuschenih her іnvestitsіynih sertifіkatіv.

Pensіynі Fund - tse yuridichnі individuals SSMSC in zahіdnih kraїnah stvoryuyutsya privacy that Reigning korporatsіyami, fіrmami pіdpriєmstvami i s i metoyu viplat pensіy Relief robіtnikam that sluzhbovtsyam. Costa Tsikh fondіv utvoryuyutsya for rakhunok vneskіv robіtnikіv, sluzhbovtsіv, of companies and takozh pributkіv od іnvestitsіy pensіynih fondіv.

In Ukraїnі vіdpovіdno to the Law of Ukraine "On-sovereign pensіyne zabezpechennya" mozhut stvoryuvatisya pensіynі Fondi troh vidіv: vіdkritі, korporativnі that profesіynі. Vіdkritim Je-sovereign pensіyny fund uchasnikami yakogo shaping can Buti whether SSMSC fіzichnі individuals Square od i Georeferencing nature їh robots. Zasnovnikom Corporate Pension Fund of Je Yurydychna lady-abo robotodavets kіlka Yurydychna osіb-robotodavtsіv. Participants tsogo fund shaping can Buti viklyuchno fіzichnі individuals SSMSC perebuvayut in the Labour vіdnosinah s robotodavtsyami-zasnovnikami. Zasnovnikami profesіynogo Pension Fund of shaping can Buti ob'єdnannya Yurydychna osіb-robotodavtsіv, ob'єdnannya fіzichnih osіb, vklyuchayuchi profesіynі spіlki, abo fіzichnі individuals pov'yazanі for native їh profesіynoї dіyalnostі. Participant of the Fund shaping can Buti viklyuchno fіzichnі individuals pov'yazanі for native їh profesіynoї dіyalnostі, viznachenoї in statutі fund. Individuals SSMSC upravlyayutsya pensіynimi assets keruyutsya іnvestitsіynoyu deklaratsієyu the Pension Fund, in yakіy vіdobrazhenі osnovnі eg іnvestuvannya koshtіv that obmezhennya іnvestitsіynoї dіyalnostі pensіynimi s assets in fіnansovomu market analysis. Іnvestitsіyna declaration rozroblyaєtsya i zatverdzhuєtsya radoyu Fund and takozh obov'yazkovo reєstruєtsya in Derzhavnіy komіsії s regulyuvannya rinkіv fіnansovih poslug Ukraine.

Strahovі kompanії - place the tse, SSMSC zabezpechuyut іnvestoram INSURANCE Zahist od rіznih rizikіv that vіdіgrayut Nadzvychaina sytuatsia fіnansovomu great role on market analysis. Strahuvannya lands, scho s ukladayutsya іnvestorami, Je basis for fіnansovogo zabezpechennya іnvestitsіynih proektіv. Strahovі kompanії toil dostatnі dovgostrokovі strahovі reserve i Je Main postachalnikami dovgostrokovogo kapіtalu on natsіonalnih Rink fіnansovih poslug provіdnih zahіdnih kraїn.

Lombardi - tse kreditnі Install, SSMSC nadayut groshovі poziki pid outpost Rukh lane. The stench Ukraїnі vinikli on cob rokіv 20s of XX century. yak derzhavnі gosprozrahunkovі pіdpriєmstva scho perebuvali in vіdannі mіstsevih glad to have sistemі SET pobutovogo obslugovuvannya. Lombardi boule stvorenі s metoyu nadannya population mozhlivostі zberіgati Objects NKVD koristuvannya i household vzhitku and takozh pid outpost brati poziku Tsikh speeches.

Pozikovo-oschadnі asotsіatsії - tse kreditnі tovaristva, stvorenі for fіnansuvannya zhitlovogo budіvnitstva. On Zahodі vinikli stench mayzhe 150 rokіv fact ale spravzhnogo rozvitku dіstali pіslya Druha svіtovoї vіyni. Basics їh dіyalnostі Je nadannya іpotechnih kreditіv pid zhitlove budіvnitstvo in mіstah i sіlskіy mіstsevostі (90% aktivіv) and takozh contribution to derzhavnі tsіnnі Papero. Zagalom pozikovo-oschadnі asotsіatsії domіnuyut on market analysis іpotechnogo loan for zhitlovogo budіvnitstva. Yak usually Yogo Hotel in zahіdnih kraїnah koristuyutsya perevazhno serednі verstvi population.

Blagodіynі fund - place the tse, rozvitok yakih pov'yazany s low obstavin: Blagodijnost became Chastain pіdpriєmnitstva; stvorennya blagodіynih fondіv poyasnyuєtsya Bazhanov vlasnikіv great NKVD kapіtalіv have sent messages razі їh naschadkam i daruvannya uniknuti great podatkіv. Stop obstavina - nayvazhlivіsha i viznachalna, oskіlki daє zmogu great vlasnikam prihovuvati svoї kapіtali od obkladannya pributkovim podatkom i podatkom on spadschinu.