Banking. Settlement operations of commercial banks (lecture notes)

Lecture notes, cheat sheets
Free library / Directory / Lecture notes, cheat sheets

Banking. Settlement operations of commercial banks (lecture notes)

Lecture notes, cheat sheets

Table of contents (expand)

Settlement operations of commercial banks

Settlement transactions carried out by commercial banks include operations on payment orders, payment requests, checks, letters of credit, bills of exchange and credit cards. The procedure for carrying out these operations includes their documentation, document flow, accounting and control. The rules for their improvement, established by the Central Bank of the Russian Federation, are mandatory for enterprises of all forms of ownership. When documenting, settlement documents must comply with the requirements of established standards and contain the necessary details.

Payment request - this is a settlement document containing the requirement of the recipient of funds to the payer to pay a certain amount through the bank. Payment claims are most appropriate when paying for goods and services. There are payment requirements with preliminary and subsequent acceptance. The disadvantages of settlements with payment requests are a long document flow and the possibility of non-payments due to lack of funds from the payer.

Payment order is a settlement document containing an instruction from the payer to the bank to transfer a certain amount from his account to the beneficiary's account. Payment orders are most widely used in settlements for agricultural products purchased from collective farms and state farms, as well as in advance payments for services and goods, advance payments, and the predominant part of non-commodity payments, for example, to the budget. The disadvantage is that suppliers may become dependent on buyers who may delay issuing payment orders.

Settlement check - a document containing an instruction from the drawer to the bank to transfer a certain amount from his account to the account of the holder's check. Settlement checks should be distinguished from money checks for which cash is issued from the bank: they cannot be given change in cash. Checks are used in payments for goods accepted according to acceptance documents, as well as for transport services. This is one of the guaranteed forms of payment. Payment of checks is secured by a bank loan or from a specially created deposit.

Letter of credit - an order from the buyer's bank to the supplier's bank for the shipped goods or services rendered on the terms stipulated in the buyer's letter of credit application. Letters of credit are used in out-of-town settlements for goods, mainly for one-time deliveries. The disadvantages of the letter of credit form of payment include the delay in cargo turnover: the goods are shipped only after receiving the letter of credit.

Control over the correctness of settlements between economic agencies is carried out by commercial banks themselves and their institutions. The RCC controls the correctness and completeness of the completion of settlements (mutual reconciliation of accounts). For normal settlements, CBs must maintain credit balances in their accounts. Banks and RCCs are responsible for the violations committed, however, filing a complaint or lawsuit does not suspend operations, but provides for certain penalties. The organization of settlements must meet the requirements of reliability, predictability and optimal payment terms. However, at the present stage of development, the implementation of settlements has a number of difficulties (registration of additional documentation of CBs, poor technical support of the RCC, a large number of documents in the current 4 forms of settlements, unauthorized access to information). The settlement systems in the Central Bank of the Russian Federation and the Bank of Russia are constantly being improved: the forms of settlements are being unified, standardization and typification of settlement and payment documents are being carried out, the Central Bank of the Russian Federation is creating an electronic payment system designed to reduce the time of settlements and the abundance of paper documents.

The wording is usually used cash settlement services (RKO).

Author: Shevchuk D.A.

<< Back: Financial services of commercial banks (leasing, factoring, trust transactions)

>> Forward: The main forms of cashless payments in the Russian Federation

We recommend interesting articles Section Lecture notes, cheat sheets:

▪ Banking. Lecture notes

▪ Insurance business. Crib

▪ History of the new time. Crib

See other articles Section Lecture notes, cheat sheets.

Read and write useful comments on this article.

<< Back

Latest news of science and technology, new electronics:

The existence of an entropy rule for quantum entanglement has been proven 09.05.2024

Quantum mechanics continues to amaze us with its mysterious phenomena and unexpected discoveries. Recently, Bartosz Regula from the RIKEN Center for Quantum Computing and Ludovico Lamy from the University of Amsterdam presented a new discovery that concerns quantum entanglement and its relation to entropy. Quantum entanglement plays an important role in modern quantum information science and technology. However, the complexity of its structure makes understanding and managing it challenging. Regulus and Lamy's discovery shows that quantum entanglement follows an entropy rule similar to that for classical systems. This discovery opens new perspectives in the field of quantum information science and technology, deepening our understanding of quantum entanglement and its connection to thermodynamics. The results of the study indicate the possibility of reversibility of entanglement transformations, which could greatly simplify their use in various quantum technologies. Opening a new rule ... >>

Mini air conditioner Sony Reon Pocket 5 09.05.2024

Summer is a time for relaxation and travel, but often the heat can turn this time into an unbearable torment. Meet a new product from Sony - the Reon Pocket 5 mini-air conditioner, which promises to make summer more comfortable for its users. Sony has introduced a unique device - the Reon Pocket 5 mini-conditioner, which provides body cooling on hot days. With it, users can enjoy coolness anytime, anywhere by simply wearing it around their neck. This mini air conditioner is equipped with automatic adjustment of operating modes, as well as temperature and humidity sensors. Thanks to innovative technologies, Reon Pocket 5 adjusts its operation depending on the user's activity and environmental conditions. Users can easily adjust the temperature using a dedicated mobile app connected via Bluetooth. Additionally, specially designed T-shirts and shorts are available for convenience, to which a mini air conditioner can be attached. The device can oh ... >>

Energy from space for Starship 08.05.2024

Producing solar energy in space is becoming more feasible with the advent of new technologies and the development of space programs. The head of the startup Virtus Solis shared his vision of using SpaceX's Starship to create orbital power plants capable of powering the Earth. Startup Virtus Solis has unveiled an ambitious project to create orbital power plants using SpaceX's Starship. This idea could significantly change the field of solar energy production, making it more accessible and cheaper. The core of the startup's plan is to reduce the cost of launching satellites into space using Starship. This technological breakthrough is expected to make solar energy production in space more competitive with traditional energy sources. Virtual Solis plans to build large photovoltaic panels in orbit, using Starship to deliver the necessary equipment. However, one of the key challenges ... >>

Random news from the Archive

Kingston KC310 960 GB SSDs 17.04.2015

Kingston Digital has announced the availability of its largest enterprise SSD, the 310GB KC960.

This 2,5-inch drive uses the Phison PS3110-S10 eight-channel controller to provide high-speed SATA 6Gb/s data transfer. In sequential read mode, it reaches 550 MB / s, in sequential write mode - 520 MB / s. Performance on random access operations in blocks of 4 KB reaches 96000 IOPS in read mode and 88000 IOPS in write mode.

The drive features an Advanced SmartECC data protection mechanism that automatically recovers information, and a mechanism that minimizes the risk of data loss in the event of a sudden power outage. The drive supports SMART technology and the TRIM function.

The manufacturer provides a three-year warranty on the drive, estimating the mean time between failures at 1 million hours. The SSD resource is declared equal to the ability to write 681 TB of information during its entire service life.

Other interesting news:

▪ Boys to the left, girls to the right

▪ 5nm IBM chip

▪ Multi-Voltage Power Supply Controllers for LCD Monitors

▪ Sharp and Pioneer TVs are recognized as the most environmentally friendly

▪ Chips after damage can be restored

News feed of science and technology, new electronics

Interesting materials of the Free Technical Library:

▪ site section Electric meters. Article selection

▪ article Trap for a bear. Tips for the home master

▪ article How did the horoscope appear? Detailed answer

▪ article A worker engaged in logging and silvicultural work. Standard instruction on labor protection

▪ article Two beams from one. Encyclopedia of radio electronics and electrical engineering

▪ article Passenger's Night Watchman. Encyclopedia of radio electronics and electrical engineering

Leave your comment on this article:

All languages of this page

Home page | Library | Articles | Website map | Site Reviews