home Other disciplines Books Міжнародні розрахунки та валюні операції - Savluk M.І.

Міжнародні розрахунки та валюні операції - Savluk M.І.

PARTIAL OF A FRIEND. VALYUTNI OPERATSIЇ KOMERTSIINYKH BANKIV

Розділ 8. ZAGALNI BASIC DIALOGNOSTY KOMERTSIINYH BANKIV ON THE CURRENCY RINKS

Після вивчення цього розділу ви зможете:

• Signify із with the structure of the currency market in Ukraine by the stages of the yogo form;
• Clarify the need for regulation of the currency market;
• To catch the main lines of foreign exchange transactions;
• Znachomitis z informatsiynim zabezpechennyam operatsi on the currency markets;

8.1. Sutnist, the structure of that regular currency market of Ukraine

The main sub-projects of the currency market are commercial banks. Banks have to reconsider and exaggerate foreign currencies and participants of the market with the method of settling the required conversion and credit operations with currencies. Banks Akumulyuyut (through operations with cliens) sukupnі konferinka at currency conversions, zaluchayut і rozmischuyut koshti through spirobotnitstvoz by the other banks. We are satisfied with the applications of our banks, banks are able to conduct currency transactions for themselves on a rajun of virgin koshtiv. In zv'yazku zim currencies rinok zavzhdi rozglyadayatsya yak rink mizhbankivskih ugod, golonne moztse yakomu vidvoditsya komertsynim banks.

Diyalnist komercitsnykh bankov in the currency rinkah regumentuetsya vnutrishnym legislation, ya viznachaet rights that obovvyazki bankov, and takozh їh rules povedinki. Zrozumilo, scho in the territories with the economical economy, dekinki vidosinini perebuvayut at studiї rozbudovi (before such nalezhit і Україна), the legislation is straightforwardly on the singing of money to the currency market, which is the subject of the respect respected by the side of the state. Zalizhno vіd forms of monetary policy and system of currency regulation in the leather industry form its structure of the currency market.

The rozvitok currency market in Ukraine is rozpochavsya після проголошення незалежності держави. Warehouse economical reforms, creeping on the transition to the Rink economy, became motivated by a virulent currency market. For its own function of the currency currencies in Ukraine, it is not necessary to meet in the foreign countries and national currency currencies. The head of the yogo meta polyaga is in the balanced supply of that supply to the foreign currency and in the payment balance of the state.

The middle of the Ukranian currency market is the yoga spec of the polygal in which the currency of the representations is dominantly foreign exchange bureaucratic, and it functioned as a structure of the national bank of Ukraine. However, with a very generous rozvitkom zhogo rinku zbilshennyam obyagіv vinikal operations, the demand for a strict self-structural structure, through the yak of the currency, the currency of the state. In the case of the 8 lipsticks 1993 p. The Decree of the Board of NBU No 50 "About the Ukrainian Bank for Foreign Exchange of Birzhu", in the form of a bill on the currency brokerage in Ukraine.

Zgіdno з цією I decree on the currency market of Ukraine, could diyati soi sub'єktі:

• UMVB, yaka zabezpechuyet organizatsiyu roboti shodo sdelonya operatsіy osnovnovazheniimi banks from the purchase and sale of non-terrestrial currency;
• NBU, which will establish the procedure for conducting transactions in the foreign currency on the territory of Ukraine, that is, when entering into the national currency;
• Commercial banks, financial institutions, banks, banks, banks, banks, banks, banks, banks, banks, banks, banks, banks, banks, banks, banks, banks and banks.

UMBB Bula is based on 40 commercial banks and close the joint stock company. At such a status, Won functioned until the birch in 1999.

Українська міжбанківська валюна біржа - the first for an hour виникнення a segment of the currency market of the state. Її діяльність rozvivalasya at once rozvitkom currency market, і всі зміни в валюній політиці держави, що відбувалися extending the rest of the rock, so chi іnakshe torkali і UMVB.

З 5 листопада 1993 р. At the call of the fisovanoy course on the UMVB, bullets are preliminarily traded in the currency and in the Timchash settlements. The Tender Committee conducts the sales of the currency for the official rate of the deposit in the high-value countries. However, the policy of the fictional exchange rate at that hour of the Bula was non-effective, and called the tilks to zastrechnya of foreign exchange problems at the state, and so to the value of the credit for the cordon. So, for expert assessments, the hour of the fisovaniyu rate of Ukraine was billed 2.5-3.5 billion dollars.

Skasuvannya zhorstko fіksovanogo course і perehіd to politiki regulovanovogo course gave mozhnlіst pokonkovo ​​ponoviti robot UMVB. W 11 birch in 1994. Rushed to be auctioned for the sale of the American dollar, and the auctions were auctioned for the sale of the brand name and the Russian ruble. The auctions were held until the beginning of 1994.

However, the form of the auction held by the Bula was non-effective and did not meet the requirements of the currency regulation for that hour. Tomu zhovtnya 1994 p. UMVB renewed its disposition for the regime, placing it before the bidding.

Ugodi from the purchase and sale of foreign currency in the formless form to the internal market of Ukraine, the trolls were stacked on the birch grove. Ale s rozvitkom bankovskoi sistemy y u zv'yazku lіberalіztsiєyu currency trading (traven 1995 rub.) Z'yavshsya one segment of the currency rink - mizhbankivskiy rinok, dey podachi pokachi pokazatisya bezsedredn'no mizh bankov, osnovnovazheniemi zdіysnennya currency operatsiy. From the appearance of this segment, the market can be riched, but the structure of the Ukrainian currency market was formed.

At that hour, the currencies of Ukraine's markets were deposited in three major segments:

• Birzhovyu rinku;
• Позабіржового або міжбанівського ринку;
• Sale of goods.

Усі segments Rink - birzhovy, pozabirzhoviy ta gotіvkovy - vzajmopov'yazі, hoch i kozhen z them vikoneu svoe fіlіfіchnu role. So, birzhovy rinok dіє згідно з формалізованимиі and firmly vstanovleniymi rules: usі basicnyi parametri ugod fіksyutsya otіtsіynoju statistikoyu, that information є dostatno povnoju i dostovirniyu. On the pozabirzhovomu rinku, de povedinka uchasnikіv viznachaetsya їх vazemnoyu domovistіstyu, umvi ugod є komercinoyu taєmniceu, і to that about діяльність цього a segment of a currency rink can be judged less than for ekspertnymi оцінками. Rinok sale gotivki obslugovuє gotіvkovy turnover, і sub'єktami цього ринку є фізичні та юридичні individuals, yakі kupuyut currency in obnіnnih items without a middle.

Before the birch in 1999. Pitoma Vaga segments in the currency market of the Bula River: on the birzhovyi rink, there were 10% of the foreign exchange transactions, 68% on the banking market, 22% on the sale, the left part of the currency was sold to the banking market. Tse zakonarny process, through a passed all the edges. The result of the evolution of the currency market, the yak trivala in the rocks, the system of trading in the currency of the Ukrainian market, has approached the practice of trading in the international currency market, de such is the great obligation to operate on the banking market.

Сьогодні the structure of the currency market has recognized znachnykh zmіn. In Ukraine, there are two segments of the currency market - the banking market and the sale of goods. Robot UMVB із березня 1999 р. Timpasovo pripinena. The goal is the systematic reinforcement of the sovereign regulation of the currency market and the fence of speculative operations to banks.

In practice, in particular, in the course of more segments of the market, in the unstable course, the more bills are spent for conducting currency speculation. Parallel to the robot birzhovogo mіzhbankіvskogo rink in 1997-1998 рr. That to finish the liberal exchange rate policy, the hour of the currency crisis was brought to the great exchange rates. On UMVB, banks bought currency in the National Bank, and potim on Mizhbankovs'komu rink її sold for the current exchange rate, and pushed it to post-currency devaluation currency. Alya at that hour NBU mav extensible to the number of foreign currency reserves - on the cob 1998 p. Stink dorivnyuvali 2.7 billion dollars. - I have given zmogu yomu stabilizuvati situatsiyu on the market.

Після фінансової кризи (серпень 1998 р.) Situation дешо змінилася. "Втеча" капіталу з фінансового ринку України і втрата резервів National Bank of Ukraine has imposed a timuchov припинення роботи міжбанівського ринку і цілу low interchange for transactions with the purchase of currency. Operations in the currency of foreign currencies on foreign currencies. However, the International Monetary Fund, which is the leading creditor of Ukraine, having vvazhal, scho coursework on the birch-bark is not ри rinkovym.

At the call of the NBU, having looked at practically the whole system of the foreign currency regulation market. Сутєєхх змін has learned structure ринку та політика курсоутворення гривні. Beginning from 2000 r. NBU progolosiv polichiku floating rate, pid yaku bulo formed ninі diyuchu structure of the currency market і system zdіysnennya currency operations.

Відсутність запасів і необхідність стабілізації національної грошової одниці примусили НБУ вдатися до жорсткого обмеження купівлі currency commercial banks on the міжбанківському ринку іборрони held speculative transactions. Наприкінці 1999 р. NBU vprovadiv novyi rules zdіysnennya operatsіy on mіzhbankіvs'komu currency market of Ukraine, somehow more than sharing the robot komercynyh bankov on tsymu rinku.

With the new rules of currency trading, banks can conduct operations on the purchase and sale of the foreign currency of the first group "Classifier of inland currencies to the National Bank of Ukraine" in the course of the Trade Session, which does not exceed two years per day, depending on the application, Tilki on sales of currency.

In an hour the banks pristosuvalysya takoї sistemi trading currencies. Levovka part of the auction in the foreign currency is zasedredzhuyutsya at the hands of 10-15 naypotuzhnihshih bankov, mizh yakimi skladilisya dostatno stіykі fіnansovі vіdnoni. In the case of banks, the majority of operations, which are involved in servicing the call-ups of foreign currency calls and internal currency turnover, are concentrated, banks are engaged in banking operations, which are not serviced by non-resident operators in the Ukrainian market.

Efektivna dіyalnіst currency market in the bagato in chomu lie in the system yogi regulyuvannya. Svitova practice rynktsionuvannya rinkyv know two methods of currency regulation - rinkovy and dominions. Ці methods dopovnjut one one, odnak spіvvіdoshnya mіzh them posіyno zmіnyuyatsya zalizhno vіd particular ekonomichnoy situation.

Rinkovo ​​regulyuvannya currency rinku dіє on the basis of the law vartostі і law popitu ta propositsії і zastosovuyutsya in the minds of the economy stabilnostі. At tsjomu takozh mе місце і державне регулювання, окільки валюні відносини вдидчутно вплидть на внутрішній економічний розвиток.

In the minds of crisis situations, the power of the state should not be shy of regularity (the regulation of the power of the sub-elite of the currency market), and another role should be played in the market. The problems in the fіnіsііy spheres of Ukraine (velikі zovnіshnі ta vіrіstіnі borgi, vіsutnіst of the currency reserves іnvestitsіy) have been called up to the strengthening of the sovereign regulation of the currency market and the practical vіsutnostіі rinkovogo reguliulyannya.

Currency regulyuvannya in Ukrainі здійснюється на основі Decree of the Cabinet of Ministers Міністрів "About the system of currency regulation of currency control", which after gaining rank in the fierce 1993 p. І діє й нині. The law on the regulation of the currency market (the camp on the river of 2000 rubles) is not priinyatiy, the draft yogo is transferred to Verkhovnoi Radi і vіn check itself.

The Decree establishes the regime of the foreign exchange transactions on the territory of Ukraine, viznacha zagalnі principle of currency regulation, the equivalent of the state bodies and functions of the Ukrainian financial and financial institutions in the regular foreign exchange operations, the law of obovyazyka subelections of foreign currency, the procedure for currency control, Vidpіdіdnіst for poroshenny currency legislation.

With respect to the Decree of the sub-ect of foreign currencies, it is recommended to subscribe to non-resident residents. Until the Residents register the official legal entity, the post office of the official residence in the territory of Ukraine, the number of which must be overemphasized beyond the cordon. Non-residents vvazhayutsya fizichnі ta juridicheskikh osobi, yakі not majut Ukrainian gromadyanstva і їх postійне місцепроживання знадьться за кордоном. Prior to the residence of those non-residents, they must be diplomatic, consular, trade, and office representatives of the region.

Residents and non-residents flaunt the rights of Bouti sovereignty of foreign currency, but perebuivayut on teritorii Ukrayiny. Residents flaunt the rights of Boots by virtue of such exchange rates, as well as for the interstices of Ukraine, for example, by the legislative acts of Ukraine.

Residents and non-residents wield the right to liquidate foreign exchange operations with short-term mortgages, established by Decree, and other acts of the currency legislation of Ukraine.

Загальне керівництво валютною політикою здійснють The President of Ukraine, the Verkhovna Rada, the President of Ukraine, the President of Ukraine, the President of Ukraine, the President of Ukraine, the President of Ukraine, the President of Ukraine, the President of Ukraine, the President of Ukraine, the President of Ukraine and the Supreme Council of Ukraine.

I am establishing the currency regulation for the head of the country є National Bank of Ukraine, which is as follows:

• Здійснює валюнутику політику виходячи з принципаів загальної економічної політики України;
• Warehousing at once from the Cabinet of Ministers of Ukraine the payment balance of the state;
• Verified by the upturned hardened Verkhovnoyu Rado of Ukraine lіміту звнішнього держажного державного боргу України;
• Viznachaє at разі необхідності ліміти заборгованості іноземній валюі развноважених bankів to non-residents;
• Appear in the interlocutors, in front of the Qim Decree, obovv'yazkov for the normative actives on the currency market of Ukraine;
• Нагромаджує, зберігає і використовує reserve of currency values ​​for здійснення державної валютної політики;
• Sightseeing in the course of foreign exchange transactions; priyma rishennya pro їh skasuvannya;
• Establish the way viznachennya i vikoristannya currencies (obminnyh) rates in foreign currencies, virazheny u currencies in Ukraine, rates of exchange rates, virazheny in inozemnyy currencies in abou rokraunkovyh (klirinovih) odinitsah;
• Забезпечує публікацію банківських звітів about the government's operations and operations of bankruptcy.

Specific vikonavtsy currency regulyuvannya є komerciny banks. Wongs conduct currency exchange transactions before loans, yaku otrimuyut vid NBU, zdіysnjut control over the sub-customs cliens of the currency legislation і podannyaam zvіtnostі about ukladennya currencies ugod.

The control over the right of citizenship, the bankruptcy of the bankruptcy of the National Bank of Ukraine. Він to cherish the rules of the regulation of foreign exchange operations for Ukraine on the basis of the rules of currency exchange on the territory of Ukraine, which are not subject to decree to the competence of the most powerful state bodies, and so that the bank guarantees the banks with the functions of currency exchange control with the decree of the same acts of the currency legislation of Ukraine.

Крім NBU, in the inter-jurisdictions, currency control bodies є:

• Держана податкова інспекція України, яка здійснює фінансовий control over currency operations, wo be spent by residents and non-residents on teritorії Ukraine;
• Ministry of Control of the Control of the Restrained Rules of Postal Reforms and the Transfer of Currency Values ​​through the Mitney Cordon of Ukraine;
• Державний митний комітет України здійснює control over the restraints of rules for the transfer of currency values ​​through the mitnic cordon of Ukraine.

The currency of regularity is straight and indirect. Direct currencies do not regulate the field in the korektsії поведінки sub'єктів ринку through зашасування обсредючих актвв і втручання оргаів виконавчої влади. Indirectly, foreign currencies are not regulated by vikoristani economists, zakrems of monetary and credit ones, method of investing in the economy of agency agencies in the market.

Сьогодні в Україні поеднується пряме і непряме валюне регулювання ринку. Order with the rules of roboti mizhbankivskogo currency market, yaki perebachayut directly obmezhennya diyalnosti bankov in the face of the NBU, vikoristovuyuschayaschitsya nezhnstrumenti groshovo-kreditnoy polity. For the supplementary rate of the National Bank rate and the normative requirements for the reserve of commercial banks, the NBU regulates the pennies of the grocery mai on the market, which can be easily scattered on the pop and currency deposits.

Currency regulyuvannya за zasolom realizatsii monetary valuation, yaka is itself sukunnist zahodіv v spinoi kolichestvennykh vidosnon vidpodіdo strategіichnih tsіley derzhi. In Ukraine, the currency of the policy is crammed into the safe-keeping of the economy, the streaming of the inflation rate, the payment of payments to the balance of payments.