Foreign economic activity. The role of banks in the settlement system in foreign economic activity (the most important)

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Foreign economic activity. The role of banks in the settlement system in foreign economic activity (the most important)

Lecture notes, cheat sheets

Directory / Lecture notes, cheat sheets

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81. The role of banks in the settlement system in foreign economic activity

The conduct of financial transactions in the field of foreign economic activity and the procedure for their registration depend primarily on international practice. The complexity of the correct conduct of foreign trade settlements for participants in foreign economic activity in Russia lies in the discrepancy between domestic practice and that adopted in other countries, which, however, does not exempt them from the implementation of unified international rules in settlements for foreign trade transactions, on the contrary, it forces them to take into account the existing modifications in order to optimal choice of specific monetary and financial conditions.

The strongest impact on the banking system is exerted by central banks (federal, national), which have certain government powers and currency levers for these purposes: maneuvering reserves, discount rates, government securities. They provide settlements under international trade, credit, payment and other agreements of the state; carry out currency control, issue of banknotes, intervention in the domestic currency markets; form relationships with other banks, attracting their reserves and other funds, providing credit and offsetting claims and obligations.

In world practice, the specialization of banks has become widespread in the activities of national banks. The most common are such groups of banks as investment, mortgage, savings and commercial.

investment banks are engaged in complex transactions, predominantly involving large associations, and most often carry out joint activities to provide strong financial support to their clients, with the possible involvement of international lenders.

Mortgage banks - specialize in issuing long-term cash loans secured by real estate.

savings banks - belong to the number of credit institutions in the form of ship savings associations and credit unions; a certain part of their financial resources is invested in shares and bonds of industrial enterprises.

Commercial banks differ in the variety of financial services provided. They focus their activities primarily on providing short-term financing to individuals and companies, as well as providing loans to small businesses.

Correspondent banks - on the basis of a correspondent agreement (agreement), they carry out mutual instructions for payments and settlements through specially opened accounts (correspondent with an account) or through accounts of correspondent banks in a third bank (correspondent without an account).

Correspondent banks, acting simultaneously as authorized by exporters and importers, perform not only the role of intermediaries between them, ensuring the receipt and transfer of payments in foreign currency to foreign trading partners. They also monitor the timeliness of sending (receipt) of shipping documents, delivery of goods, receipt of payments from the importer, and issuance of loans to exporters.

Financing foreign trade operations of a foreign partner involves a preliminary analysis of a number of factors, such as the financial condition of foreign clients, the level of administrative and financial support, the country's trade and political conditions, the development of its banking system, and the state of financial activity.

Correspondent banks acting abroad on behalf of Russia:

▪ Moscow Narodny Bank has branches in Amsterdam, Zurich, USA, Western Europe, Singapore;

▪ East European Bank, located in Germany;

▪ Commercial bank for Northern Europe (France);

▪ Russian Commercial Bank (Switzerland);

▪ Donau Bank (Austria);

▪ Vnesheconombank.

Author: Bobkova O.V.

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