7. Credit system and the credit market

The competence to be formed:OK-4; OK-5; OK-11; OK-13; PK-13; PK-8; PK-13

Results of development:

To know:

  • 1) Theoretical and methodological bases construction of credit systems;
  • 2) Concept and structure of credit system institution;
  • 3) Theoretical and methodological bases of construction of bank system and the central bank of issue;
  • 4) Characteristics of the credit market: concept, structure, credit products etc.

Be able:

  • 1) to Analyze credit system proceeding from the wide list of the aspects connected with its functioning;
  • 2) to state an estimation to various concepts of creation and functioning of the central banks of issue;
  • 3) to state an estimation to structure and making elements of bank and credit systems.

Possess:

  • 1) the Terminology, providing guidance on the credit market and credit system;
  • 2) Methodology of an estimation of various aspects of credit relations.

Educational methods

Lectures — 4 hours

Practical training — 4 hours

Independent work of students — 6 hours

Forms of current control - Poll, the decision of problems, testing

Credit system and the credit market

Credit system. Concept of credit system. Functional credit system and its structure. Functional credit system as set commercial, bank, state, mortgage, consumer, investment, innovative, tax, international and other forms of crediting. Features of commercial crediting. The mechanism of the commercial credit, sequence of operations. The bill and its kinds. Simple and translation bills (bill of exchange). The account of bills and their inventory. The discount interest rate. Оборачиваемость drafts. Endorsements. The parties of the bill of exchange: trassant and trassat. The Geneva bill convention of 1931 and its application in the Russian Federation. Factoring operations with bills. The bank credit: urgent, overdraft, call, acceptance, accept-reimbursement, bill, forfeiting, factoring, leasing both etc. the State credit and its distinctive features. A mortgage loan. The consumer credit. The tax credit. The international credit: bilateral and multilateral, state and private, bank and firm.

Concept and structure of institutional credit system. Credit system as set of credit institutions. Concept of credit institution. Classification of credit institutions: by the form primary activity (bank and not bank), on pattern of ownership, on carried out functions, state and nonstate. Single-level and two-level credit systems. Classification of credit institutions by carried out functions: the central bank, commercial banks, parabank system (specialized credit and financial institutes). Structure of institutional credit system: the central bank; bank system (universal commercial, savings, investment, mortgage, etc. specialized banks); specialized not bank institutes (insurance funds, investment, hedge and so forth funds).

The central bank of issue. Concept and formation history. Three ways of creation of the Central Bank: from weight of commercial big banks (from below); the state act (from above); as a consortium of several private commercial banks (FRS the USA). Forms of the organization of the Central Bank: state, joint-stock, mixed. Prevalence of the state form. The Central Bank as formally not entering into bank system and heading all credit system. The law on the Central Bank in the different sovereign states. Specific functions of the Central Bank: a currency issue, bank of banks, the banker of the government, storage of official gold and exchange (international) reserves and means of stabilization and savings funds of the sovereign states; monetary and credit policy realization. Credit expansion and credit рестрикция.

Bank system. Concept of bank and bank system. Depositary, credit, settlement and cash bank operations. Insurance, share, currency and трастовые operations. Bank as profitable enterprise. A bank competition and a universalization of banks. Principles of activity of banks: work within the involved resources; full economic independence; mutual relations with clients are under construction as usual market relations; regulation of activity of bank is carried out only by indirect methods. Functions of commercial banks. An order of creation (establishment) of commercial bank. Specialized banks. System of not bank credit institutions (parabank system). The insurance companies, investment both financial funds and the companies, pension funds, loan-and-savings associations, the credit unions, pawnshops and so forth.

The credit market. Concept of the credit market. The credit market as sector of the financial market. Its interaction and interrelation with other sectors: currency, share, insurance, investment. The mechanism of the credit market and its feature. Participants of the credit market. Objects of purchase and sale in the credit market. Structure of the credit market. Classification of principal views of credits in the credit market. Modern categories of credit as the goods of the credit market. Kinds of the credit markets: on terms of credits, on categories of credit, on level. The national, regional, international and world credit market. The market of credit derivatives. Necessity of standardization of credit derivatives. Derivatives on credits of the first and the subsequent levels. The basic operations in the credit market: loan and with Derivatives. Credit risk and ways of its decrease. Traditional ways of decrease in credit risk. Their limited character. Credit derivatives as ways of decrease in credit risk. Swap actives, a swap total sums of incomes, a swap nonreturns of the credit sums (default), options on the credit spreads, the structured promissory notes. The international credit market and tendencies of its formation. A modern crisis state of the world credit market.

 
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