Money. Credit. Banks. Country's balance of payments. (lecture notes)

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Money. Credit. Banks. Country's balance of payments. (lecture notes)

Lecture notes, cheat sheets

Directory / Lecture notes, cheat sheets

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Country's balance of payments.

This is the ratio of monetary claims and obligations of receipts and payments of one country in relation to others.

Main types:

▪ settlement balance (the ratio of claims and obligations on any specific date, regardless of the timing of receipt of payments). It characterizes for the period the dynamics of changes, requirements and obligations;

▪ international debt balance, as a whole, is close to the calculated one, but has a more developed narrow orientation;

▪ payment balance - the ratio of the amount of payments made by this country abroad and the receipts received from the grants for a certain period of time. The balance of payments reflects obligations regardless of the time and form of their execution, and the balance of payments reflects the actual cash flows.

The balance of payments is active if receipts exceed payments, if vice versa, it is passive.

Payment balance (according to the IMF methodology) - a systematic list of all economic transactions mediated by money, carried out over a period of time between residents of a given country and non-residents.

The balance of payments covers all transactions that are associated with the legal transfer of ownership of goods and services from residents to non-residents, as well as the transfer of money, financial and other assets from one country to another. It does not matter whether the transfer of values is accompanied by monetary compensation in the form of a real payment or in exchange for similar non-monetary values on credit or free of charge. The balance of payments does not record foreign economic transactions in their monetary terms, but their monetary result.

An increase in tangible assets necessarily requires cash outlays, hence the "-" sign.

The decrease should be accompanied by the growth of money "+".

For example: the import of goods is always recorded in the expenditure part of the balance sheet, because at the same time there is an increase in resources and certain money is spent.

In international practice, the double entry method is used (one side of the entry shows the change in the assets or liabilities of the country, and the other shows the sources of funds for specific transactions).

A-current account.

1) export-import of goods.

2) income from investments (receivable, payable).

3) current transfers (receivable, payable).

B-account for transactions with capital and financial instruments.

1) capital transfers (received, paid).

2) direct investment (into the country, out of the country).

3) portfolio investments.

4) other investments (cash foreign currency - imported, exported; bank account balances - nostro and loro).

C-pure errors and omissions.

D-reserve assets.

A country's balance of payments (b/b/s) is a set of systematized statistical data that reflects all economic transactions between residents of a given country and residents of other countries for a certain period of time (usually a year).

There are 2 approaches to include transactions in p/b/s: transactions at the time of settlement and transactions at the time of operation. Transactions at the time of settlement are recorded if these are cash transactions or transactions of clients of the same bank. With another approach, the criterion for classifying transactions as part of the p/b/s is the transfer of ownership from a resident to a non-resident and vice versa.

P / b / s is built on the basis of the accounting principle of double accounting (debit-credit).

Structure of Russia's Balance of Payments

1. Current account

A. Goods and services

1. Commodities (balance of trade)

2. Services (non-factorial)

B. Investment income and wages (factorial services)

1. Pay

2. Income from investments

B. Current transfers

2. Capital account and financial instruments

A. Capital account

1. Capital transfers

B. Financial account

1. Direct investment

1.1. Abroad

1.2. To the Russian economy

2. Portfolio investment

2.1. Assets

2.2. Obligations

3. Other investments

3.1. Assets

Cash foreign currency

Current account balances

Trade credits and advances granted

Loans and loans granted (not overdue)

Arrears

Other assets

Commitments

Cash national currency

Current account balances and deposits

Trade credits and advances raised

Arrears

Other liabilities

4. Reserve assets

Author: Shevchuk D.A.

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