home Finance Groshі that credit - Savluk M.І.

Groshі that credit - Savluk M.І.

ROZDІL 10. FІNANSOVІ POSEREDNIKI penny Rink

10.1. SUTNІST, PRIZNACHENNYA TA VIDI FІNANSOVOGO POSEREDNITSTVA

Fіnansovy poserednik yak sub'єkt trumpery market analysis. Penny rinok for character zv'yazku mіzh creditors that pozichalnikami rozdіlyaєtsya into two sectors: direct fіnansuvannya sector is the indirect sector (oposeredkovanogo) fіnansuvannya, about scho mova yshla in rozdіlі 3.2. In sektorі indirect fіnansuvannya of order s EYAD base sub'єktami, SSMSC umovno mozhna nazvati lender-zaoschadnik pozichalnik i-vi-Tratnik, z'yavlyaєtsya tretіy ekonomіchny sub'єkt, yaky samostіynim Yea i rіvnopravnim sub'єktom trumpery market analysis. Podіbno to base sub'єktіv vіn formuє vlasnі zobov'yazannya that i vimogi on tsіy pіdstavі emіtuє vlasnі fіnansovі іnstrumenti, SSMSC will melt ob'єktom torgіvlі penny on market analysis. Vkazanі sub'єkti nazivayutsya fіnansovimi poserednikami and їh dіyalnіst s akumulyatsії vіlnogo trumpery kapіtalu that rozmіschennya yogo Sered pozichalnikіv-vitratnikіv nazivaєtsya fіnansovim poserednitstvom. Fіnansove poserednitstvo іstotno vіdrіznyaєtsya od brokersko-dilerskoї dіyalnostі. Osoblivіst ostannoї polyagaє in fact, scho i CLIENTS dealer does not stvoryuyut Vlasnyi vimog i zobov'yazan and dіyut for doruchennyam klієntіv, oderzhuyuchi dohіd in viglyadі komіsіynoї pay (brokers) rіznitsі chi courses kupіvlі i sale (dealer). Fіnansovі poseredniki dіyut on market analysis zovsіm in іnshomu - od Svoge іmenі i Vlasnyi for rakhunok, stvoryuyuchi vlasnі zobov'yazannya i vlasnі vimogi. Tom їh pributki formuyutsya yak rіznitsya mіzh income od rozmіschennya akumulovanih koshtіv i vitratami, pov'yazanimi s їh zaluchennyam. So, insurance kompaniia, akumulyuyuchi Costa svoїh klієntіv, stvoryuє basis zobov'yazannya - Insurance polіs and rozmіschuyuchi tsі Costa banks chi Paper the tsіnnih, stvoryuє nova vimogu to pozichalnika.

Zagalny viglyad vzaєmovіdnosin mіzh base sub'єktami trumpery market analysis that fіnansovimi poserednikami mozhna taxes in such viglyadі (Figure 10.1.):

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Mehanіzm fіnansovogo poserednitstva nedostatno doslіdzheny in suchasnіy ukraїnskіy that in kolishnіy radyanskіy lіteraturі. Okremі sub'єkti trumpery market analysis in teorії i, i on praktitsі rozglyadayutsya, yak usually іzolovano one od one yak nepov'yazanі mіzh themselves structures SSMSC funktsіonuyut in svoїh ekonomіchnih of closed areas. Prote tse not.

Usі fіnansovі poseredniki funktsіonuyut єdinomu penny on market analysis, one h i tim same ob'єktom - vіlnimi penny Costa, odnakovo vіdchutno vplivayut kon'yunkturu tsogo on market analysis, shaping can not tіlki konkuruvati mіzh him, and in the second vzaєmodіyati virіshennі bagatoh ekonomіchnih that fіnansovih zavdan. Tom doslіdzhennya fіnansovogo poserednitstva yak samostіynogo ekonomіchnogo yavischa Got vazhlive theoreticity i practicality value Especially in Suchasnyj minds of Ukraine, if tіlki formuєtsya penny rinok, i yogo infrastructure mehanіzm regulyuvannya. Duzhe vazhlivo, dwellers at virіshennі Tsikh zavdan urahovuvalasya not tіlki Vidova spetsifіka okremih fіnansovih poserednikіv and second їh Rodova Yednist i funktsіonalna vzaєmozalezhnіst penny on market analysis.

Priznachennya fіnansovih poserednikіv. Fіnansovі poseredniki vіdіgrayut vazhlivu role in funktsіonuvannі trumpery market analysis, and through Demba - at rozvitku rinkovoї Economy, їh ekonomіchne priznachennya polyagaє in zabezpechennі base sub'єktam trumpery market analysis for the most spriyatlivih minds їh uspіshnogo funktsіonuvannya. Tobto funktsіonalno fіnansovі poseredniki spryamovanі not vseredine fіnansovoї spherical, not on ourselves, but zovnі on real ekonomіku on pіdvischennya efektivnostі dіyalnostі її sub'єktіv.

Zvichayno, it was theoretically mozhna uyaviti situatsіyu, if ekonomіchnі sub'єkti - i creditors pozichalniki - buduyut svoї vzaєmovіdnosini right not to zvertayuchis poserednikіv. Prote organіzatsіya such vіdnosin bula used for them i suspіlstva nabagato dorozhchoyu, upovіlnenoyu, visokorizikovanoyu i nezruchnoyu.

Konkretnі perevagi fіnansovogo poserednitstva viyavlyayutsya at this:

1) mozhlivostі for skin okremogo lender promptly rozmіstiti vіlnі Costa dohіdnі in assets, and for pozichalnika - quickly mobіlіzuvati dodatkovі Costa, neobhіdnі for virіshennya virobnichih chi spozhivchih zavdan, i so very quickly rotate on їh viskhіdnі pozitsії. For tsogo creditor dostatno zvernutisya to whether yakogo poserednika i rozmіstiti from Demba svoї Costa, poklal їh Niby in zagalny boiler and pozichalniku dostatno zvernutisya tudi Well i will win їh in pozichku, having taken Niby їh s tsogo boiler. Shukati їm one of zovsіm potrіbno i do not know about navіt іsnuvannya not one single obov'yazkovo. Potrіbny deprivation wide rozvitok MEREZHI fіnansovih poserednikіv;

2) Basic skorochennі vitrat sub'єktіv trumpery market analysis on formuvannya vіlnih koshtіv, rozmіschennі їh in dohіdnі assets that zapozichennі dodatkovih koshtіv. Tse zumovlyu єtsya such chinnikami: i lender pozichalniku not potrіbno bagato hour that zusil vitrachati Poshuk on one single (advertising, stvorennya іnformatsіynih toscho systems); not potrіbno zdіysnyuvati skladnі otsіnochno-analіtichnі come in schodo potentsіalnogo klієnta, dwellers

viznachiti yogo nadіynіst, platospromozhnіst. Tsey klopіt i vitrati bere on itself fіnansovy poserednik; potrіbno not the right mother s great kіlkіstyu drіbnih kreditorіv chi pozichalnikіv on pіdtrimannya kontaktіv s yakimi potrіbnі znachnі Costa, їh konsolіdovanim predstavnikom on market analysis Je poserednik, pіdtrimannya kontaktіv s Yakima obіydetsya uniquely deshevshe.

For zabezpechennya svoєї dіyalnostі fіnansovі poseredniki takozh vitrachayut znachnі Costa, i utrimannya Tsikh poserednikіv suspіlstvu do not come cheap. Prote zavdyaki great obsyagam vikonuvanih operatsіy, їh wholesale character sobіvartіst kozhnoї okremoї operatsії koshtuvatime poserednikam that suspіlstvu uniquely deshevshe, nіzh yakbi Won vikonuvalas bezposeredno creditors that pozichalnikami;

3) poslablennі fіnansovih rizikіv for basic sub'єktіv trumpery market analysis, oskіlki-valued Chastina їh perekladaєtsya on poserednikіv. Tse staє mozhlivim zavdyaki shirokіy diversifіkatsії poserednitskoї dіyalnostі, stvorennyu spetsіalnih strahuvannya systems ta Zahist od fіnansovih rizikіv;

4) zbіlshennі dohіdnostі pozichkovih kapіtalіv, Especially in zoseredzhenih drіbnih vlasnikіv, zavdyaki zmenshennyu fіnansovih rizikіv, skorochennyu vitrat on zdіysnennya fіnansovih operatsіy that vіdkrittyu access to great, visokodohіdnogo bіznesu. Zumovleno Tse note scho toil poseredniki mozhlivіst skontsentruvati digit Quantity smallest in zaoschadzhen i spryamuvati їh on fіnansuvannya great, visokodohіdnih operatsіy that proektіv;

5) mozhlivostі urіznomanіtniti vіdnosini mіzh creditors i pozichalnikami nadannyam dodatkovih poslug, SSMSC take on itself poseredniki. Tse zokrema, strahuvannya lender od rіznih rizikіv, zadovolennya require of pensіynomu zabezpechennі, zabezpechennі Zhitlo, nabuttі right vlasnostі th upravlіnnya Pevnyi ob'єktami toscho. Fіnansovі poseredniki spetsіalіzuyutsya on nadannі such poslug have zv'yazku s denote formuєtsya wider colo їh okremih vidіv deposit іnstitutsіy, insurance kompanіy, pensіynih fondіv, іnvestitsіynih i fіnansovih kompanіy, vzaєmnih fondіv toscho. In kozhnіy kraїnі Tsey perelіk Mauger Buti rіznim, and denote bіlshe in kraїnі rozvinuty penny rinok, tim bude bіlshim number rіznomanіtnih fіnansovih poserednikіv.

Oskіlki bazovі sub'єkti trumpery Rinku perevazhno Je sub'єktami real sector of Economy (dіlovі pіdpriєmstva that domashnі Gospodarstwa), then, for stvoryuyuchi їh funktsіonuvannya spriyatlivі minds fіnansovі poseredniki vplivayut positively on the circuit in kapіtalu protsesі rozshirenogo vіdtvorennya, rozvitok virobnitstva, torgіvlі, іnshih Economy spheres. Especially vazhliva їh role in peremіschennі penny zaoschadzhen domashnіh Gospodarstwa dіlovih in turnover of companies. Zumovleno Tse note scho tsі zaoschadzhennya Je naybіlshim Jerel іnvestitsіy in ekonomіku against stink in perebuvayut velicheznoї kіlkostі vlasnikіv, іndivіdualnі rozmіri їh nevelikі, otzhe pererozpodіliti їh without poserednikіv Bulo b tehnіchno nemozhlivo.

Widi fіnansovih poserednikіv. Osoblivoї uwagi zaslugovuє klasifіkatsіya fіnansovogo poserednitstva. Schodo tsogo power єdinoї mute point at vіtchiznyanіy Zora ni, ni in zarubіzhnіy lіteraturі. In vіtchiznyanіy lіteraturі nayposhirenіshim Je podіl fіnansovih poserednikіv on Dvi groups:

- Banks;

- Nebankіvskі fіnansovo kreditnі-Install, SSMSC іnkoli nazivayut slit spetsіalіzovanimi fіnansovo CREDIT establish chi Parabank.

In amerikanskіy lіteraturі fіnansovih poserednikіv opened podіlyati into three groups:

- Depozitnі іnstitutsії;

- Dogovіrnі oschadnі іnstitutsії;

- Іnvestitsіynі poseredniki.

Taqiy rіznobіy in klasifіkatsії fіnansovogo poserednitstva zumovlyuєtsya EYAD obstavinami:

- Vіdsutnіstyu unambiguous traktuvannya ponyattya of the "bank";

- Vіdsutnіstyu zagalnoviznanih kriterіїv klasifіkatsії vsіh poserednikіv.

In єvropeyskomu zakonodavstvі Bank traktuєtsya uniquely Shirshov, nіzh in amerikanskomu. Tom deyakі s іnstitutsіy, SSMSC for єvropeyskim zakonodavstvom nalezhat to spetsіalіzovanih bankіv, napriklad іnvestitsіynі banks for amerikanskim zakonodavstvom not Yea i in such lіteraturі їh vіdnosyat to spetsіalіzovanih sky-kіvskih іnstitutsіy (іnvestitsіynih poserednikіv).

Kriterіy dogovіrnostі vіdnosin s klієntami TER Je nedostatno chіtkim for klasifіkatsії, oskіlki on dogovіrnih ambushes pratsyuyut sogodnі at sutі, OOO All fіnansovі poseredniki. Bіlshe of vidіlen-

nya troh group poserednikіv in amerikanskіy lіteraturі zrobleno for troma rіznimi kriterіyami scho vidaєtsya not dosit korektno. Tom bіlsh pravomіrnim Je klasifіkatsіya vsіh fіnansovih poserednikіv for one kriterієm - Participation in їh formuvannі Offers pennies. For CIM kriterієm stink podіlyayutsya on:

- Banks, SSMSC by penny-Credit multiplіkator zdatnі vplivati ​​on propozitsіyu pennies;

- Nebankіvskі fіnansovі poseredniki (fіnansovo kreditnі-Set), SSMSC takoї zdatnostі not toil.

Useredinі kozhnoї s Tsikh group poseredniki mozhut klasifіkuvatisya on Vidi for іnshimi kriterіyami. Napriklad, rozrіznyayut banks tsentralnі that dіlovі; unіversalnі that spetsіalіzovanі; komertsіynі, oschadnі toscho. Nebankіvskih fіnansovih poserednikіv podіlyayut on strahovі kompanії, іnvestitsіynі іnstituti, kreditnі spіlki, pensіynі Fondi, lіzingovі kompanії, faktoringovі kompanії toscho.

Detalnіshe kriterії klasifіkatsії that osoblivostі funktsіonuvannya skin mind fіnansovih poserednikіv will rozglyanutі in pіdrozdіlah 10.2. that 10.4.