Money. Credit. Banks. Credit and financial institutions of the country (lecture notes)

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Money. Credit. Banks. Credit and financial institutions of the country (lecture notes)

Lecture notes, cheat sheets

Directory / Lecture notes, cheat sheets

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Credit and financial institutions of the country

Credit organizations of deposit type

Depository institutions act as financial intermediaries. The main institutions of this group are commercial banks, savings institutions and credit unions. Credit banks offer the widest range of services for raising funds from economic entities. In the financial system of Russia, commercial banks occupy a dominant position. Savings institutions - the main source of funds are savings deposits. These institutions borrow short-term funds using checking and savings accounts and then lend them over the long term against real estate collateral. Credit unions are mutual lending institutions. They accept deposits. individuals and lend to members of the union on terms acceptable to them. They provide funds in the form of short-term consumer loans. Usually created on a professional basis.

Insurance companies and pension funds

Insurance companies and pension funds are classified as savings institutions operating on a contractual basis. The main source of income for insurance companies is the regular contributions of policy holders. The financial resources of insurance companies are used in long-term lending systems, primarily for commercial and residential construction. Pension funds are public and private (non-state, NPF). In Russia, the dominant place is the Pension Fund of the Russian Federation. The main source of funds is social tax deductions. NPFs are divided into open (any citizen can become a member) and closed (corporate, industry, regional, professional).

Financial and investment companies

Financial - companies that form their funds by issuing short-term commercial bills, shares, bonds, or by borrowing from banks to provide short- and medium-term loans for consumer and commercial needs. Financial companies borrow large sums, issue small loans. 3 types: trade (loans for the purchase of goods), consumer (those who are not given banks) and business companies (carrying out factoring operations, are engaged in leasing financing of companies). Investment funds accumulate investors' resources and invest them in money market capital instruments. They specialize in long-term investments. There are closed and open types (mutual funds). Closed type - they sell their shares in order to get cash for investment, and further limit the number of shares placed among a fixed circle of investors. The price is determined based on supply and demand. Open type own dynamic assets, they determine their value. Using market closing prices for each day. There is no limit on the number of shares issued. CIF - check investment fund. They were called upon to accumulate privatization checks (vouchers) by exchanging their shares for vouchers for the subsequent acquisition of shares of privatized enterprises for them. The interests of voucher holders who became shareholders of CHIFs were not protected. CHIFs were converted into mutual funds (mutual investment funds). Mutual investment fund - a property complex without the creation of a legal entity. persons whose property is managed in trust by management companies.

Venture capital companies and hedge funds

The funds of these companies serve as the main source of equity capital for the organization of new enterprises, primarily in the high-tech industries. 3 groups: private independent foundations, corporate affiliates and government funded small business investment corporations. The goal of a hedge fund is to generate a constant rate of return above the market average while reducing the risk of loss.

investment banks

These are not banks in the traditional sense. They perform direct financing functions in financial markets. They specialize in helping businesses and governments place their securities issues on the primary markets for financial investment. Activities:

a) performing the functions of brokers and dealers;

b) organization of settlements for transactions with securities;

c) formation of emission portfolios;

d) formation of individual securities portfolios for individual investors;

e) consulting services on investment issues;

f) searches for investors and investment objects.

Author: Shevchuk D.A.

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