FCC includes a set of separate but interconnected elements of the financial and credit systems. Finance is different from money. Finance- monetary relations, cat. mediate unequal movement of money. They arise at the stage of redistribution of national income and are associated with the presence of the state. Finances classification for public and private. State including the budget system, specialized state external funds, finances of state corporations, local finances. Private on corporate finance, bank finance, finance of innovative companies, finance of insurance companies. State finance + private finance + credit authorities = FCC. FCC- the credit system of the state, which is that part of the monetary system, cat. serves unequal movement of money. At the same time, the budget system. is a link in the financial system, and the tax service is a link in the budget system. On the other hand, the banking system is a link in the credit system, the Central Bank is the center link of any banking system. The financial and credit subsystems are interconnected. The Central Bank and credit organizations service accounts for accounting for funds received from commercial activities. Banking system I am the holder of almost all the money. funds of state and local authorities, the Central Bank is the information center in the formation of the state budget. Together, 2 blocks of the Federal Tax Service are united by government expenditures. To fulfill its functions, the state needs resources, cat. receives through the tax system and Central Bank operations in the financial market. FCC Basic Principles- unity and interaction of all its elements. That. FCC- a system of purely distributed relationships, covering all stages of reproduction. It is assumed that the distribution of resources should be efficient and fair. The banking system, represented by commercial banks, is responsible for effective distribution, and the Federal Fund of the state and the Government are responsible for fair distribution. Well, effect and justice are contradictions, cat. and is the source of development of the FCC of any state. The successful development of the economy is largely determined by the state of the state's financial credit. The role and place of finance and credit have especially intensified in the 21st century. Achieving the optimal level of such indicators as real GDP growth, the unemployment rate, the inflation rate, the state of balance sheets, the exchange rate, etc. depended on the balance of the country's financial and credit system. To modernize the market, it is necessary to have a well-developed banking system and specialized credit institutions, which permeate all spheres of the world of finance. Our bank is based on commercial banks, which account for the majority of all global foreign exchange transactions. Banks not only facilitate the flow of existing corporate resources, but also provide credit financing in local and international markets.

2. The relationship between the monetary, credit and financial systems of the state.

This relationship can be represented schematically.

The finances of the state have a close relationship with the budget and cash. In fact, the first two elements of finance: the state budget and local budgets, as part of local finances, form the state budget. In turn, the tax on payments included in the revenue side of budgets at different levels is cash. At the junction of Finnish and credit relations stands the institution of state credit: on the one hand, state credit is a classic credit relationship between a lender and a borrower based on payment, repayment and urgency; on the other hand, the state uses the loan fund for the formation and distribution of centralized funds, fulfilling its functions, which is a financial relationship. This way, the connection between credit and finance is confirmed, which also follows from the similarity of the distribution characteristics inherent in these two categories.

Finance- is a system of economic relations that have a monetary form, are distributive in nature and are materialized in the form of financial resources formed at the disposal of

economic entities and the state and used by them for the purposes of expanded reproduction, social security and material incentives for workers, as well as for other purposes of a social nature.

The functioning of the economic system is carried out using many economic instruments. Finance in this activity is interconnected with other economic categories, such as price, wages, credit.

Credit In many ways it can be an alternative to finance. Credit is a specific economic relationship between a lender and a borrower regarding a loan transaction.

Financial and credit system includes a set of separate but interrelated elements of the financial and credit system. Both the financial and credit systems have their own formation mechanisms and operating features. Currently, the financial market is being formed as a sphere of circulation (purchase and sale) of monetary resources, securities, and foreign currencies. It provides business entities with a multi-opportunity to obtain sources of financing or profitable investment of temporarily available funds.

Banks, insurance organizations and other financial and credit institutions, as well as issuers, provide financial services, attract and provide funds on a commercial basis.

.Enterprises have the opportunity to make deposits in the bank in ruble or foreign currency accounts, on deposits, purchase or sell securities, etc. Each enterprise, based on an in-depth study of the financial market conditions, taking into account the current legislation on its regulation, forms an optimal portfolio of financial investments and borrowings. When When choosing options for operations in the financial market, its subjects take into account the differences between sales and purchase prices, rates for attracting and providing loans, which are determined both by market laws and government regulatory measures represented by the legislative and executive authorities of the Russian Federation, the Central Bank of Russia, as well as economic authorities. management in the regions.

By its structure financial market is divided into several segments:

1) loan market. The general principles of modern credit policy are established by legislation on banks and the banking system, and by decrees of the President of the Russian Federation. The loan market is directly regulated by the Central Bank of the Russian Federation;

2) stock market. Until recently, the federal executive body for the implementation of state policy in the field of securities market was the Federal Commission for the Securities Market;

3) foreign exchange market.

Consideration economic policy indicates the need to control the country's financial and banking system, since all economic processes, on the one hand, influence the state of this system, and on the other hand, they themselves are under its influence thanks to significant economic power, usually concentrated in financial and banking circles.

Under these conditions, a government agency is usually created - central bank– with a charter granting it significant independence from the government. This fact is intended to protect the central bank from attempts to use money emission to finance the budget deficit. The study of the relationship between the government and the central bank is based on a comparison of the rights and functions of the latter, taking into account that the status of the central bank varies significantly depending on the country in question.

General principles of modern credit policy are established by legislation on banks and the banking system, decrees of the President of the Russian Federation. The loan market is directly regulated Central Bank of the Russian Federation (CBRF), which determines monetary policy, while commercial banks are called upon to implement it.

Commercial banks independent, but operating in a single monetary and financial system and therefore forced to obey the rules of regulation and supervision established by law and the Central Bank of the Russian Federation.

TO regulatory standards, affecting the interests of clients of commercial banks include:

1) mandatory transfer of funds to the Central Bank reserve fund;

2) obtaining loans at interest from the reserve fund.

Securities market (SS). The federal executive body for the implementation of state policy in the field of securities market is Federal Commission for the Securities Market. Its powers do not extend to the issue of debt obligations of the Government of the Russian Federation and securities of constituent entities of the Russian Federation.

Main functions of the Federal Commission:

1) development of directions for the development of the securities market;

2) approval of standards for issuing securities, prospectuses;

3) establishing mandatory requirements for maintaining the register;

4) licensing of professional activities in the securities market. The overwhelming majority of securities are government bonds, certifying the loan relationship, the debtor of which is the state. The bill combines properties of a security, debt obligation and means of payment.

The bill assumes mutual consent of the buyer and seller to defer payment - the seller does not receive money, but a guarantee of payment in the future. This is a security that certifies the unconditional obligation of the drawer (payer) to pay the owner of the bill (holder of the bill) a certain amount of money, but is a means of obtaining a trade loan in the form of a deferred payment of money. The holder (owner) of a promissory note credits the drawer (payer), who pays the debt to the holder within a certain period of time.

Currency market. Currently, the foreign exchange market operates on the basis of established principles of internal convertibility of the ruble. Legal entities and individuals have the right of ownership of currency values ​​and can dispose of them without restrictions on amounts and forms of payment. Free exchange of rubles for foreign currency applies only to Russian persons (not allowed for foreigners) and is limited to current foreign economic transactions (trade, short-term loans, transfer of investment profits, non-commercial money transfers).

Exchange rubles for foreign currency in non-cash and cash forms carried out through non-state channels (through authorized banks, exchange offices, currency exchanges) at market rates. The MICEX quotes are used as the official exchange rate of the Central Bank, which must be used by market participants in accounting and settlement operations, including for tax purposes.

The credit system is a set of credit and financial institutions that accumulate and mobilize funds in the loan capital market. [Belotelova N.P., Money, credit, banks // textbook. - 3rd ed., - M.: Dashkov and K, 2011.-p.97]

The credit system in a market economy is characterized by two basic concepts:

• - a set of credit, settlement and payment relations based on certain forms and types of lending;
• - a set of credit and financial institutions operating in the credit market.

The first concept is based on the movement of loan capital in its value and commodity form in the form of banking, commercial, state and other types of credit.

The second implies that the credit system, with the help of financial institutions, accumulates temporarily free funds and provides them in the form of loans to organizations, the state and other borrowers.

There are two main approaches to defining the concept of a credit system:

• - functional approach, according to which the credit system is represented by types of credit, lending methods;
• - institutional approach, according to which the credit system is represented by credit and financial institutions. [Galitskaya S.V. Money. Credit. Finance//textbook for universities.-2nd ed., revised. and additional -M.: Eksmo, 2009.-p.211]

The credit system operates using a credit mechanism, which is:

• - a system of relations regarding the accumulation of funds and the mobilization of loan capital between credit institutions and sectors of the economy;
• - a system of relations regarding the distribution of loan capital between credit and financial institutions in financial markets;
• - relationships between national credit institutions and international monetary and credit organizations.

The role of the credit system in the country’s economy is associated with the following needs:

• - organization of credit relations with the help of financial and credit institutions that accumulate temporarily free funds and direct them in the form of a loan for the development of production and trade;
• - cash flow management in the loan capital market;
• - organization of the movement of funds in the economy with the help of financial and credit institutions that act as intermediaries in ensuring the movement of funds between different market entities. [Money. Credit. Banks: Textbook. Belotelova N.P., Belotelova Zh.S. Dashkov and K, 2014. -p.156]

In the global economy, there are two types of credit systems:

• - segmented - they exist when the state establishes legislative restrictions on certain financial and credit institutions conducting certain operations in the financial market;
• - universal - they are characterized by the absence of state restrictions on the implementation of operations by credit institutions, as well as the presence of a system of state control over the activities of these institutions.

To classify a credit system as one of these types, the presence or absence of a ban on commercial banks conducting transactions with corporate shares at their own expense is considered, since these transactions have a high level of risk. The result of this is the extent to which banks participate in corporate financing.

Through the credit system, the essence and functions of credit are expressed. The credit system is in close relationship with the monetary system, and therefore one can often find the single concept of “monetary system”. The main function of the credit system is to mobilize temporarily available funds and provide them for temporary use for a fee to the state, legal entities and individuals.

A credit institution is an institution authorized to carry out credit activities, i.e. activities to attract and place funds on terms of urgency, payment, repayment. [Belotelova N.P., Money, credit, banks // textbook. - 3rd ed., - M.: Dashkov and K, 2011.-p. 164]

The credit institution is authorized to carry out the following banking operations:

• - attracting temporarily free funds from organizations and the population;
• - placing these funds on your own behalf and at your own expense;
• - opening and maintaining bank accounts for individuals and legal entities;
• - carrying out settlements on behalf of account holders;
• - collection of monetary documents, funds and cash services;
• - sale and purchase of foreign currency;
• - purchase and sale of precious metals;
• - issuance of guarantees. [Financial and credit system: textbook. /Proyava S.M., Boboshko N.M. - M.: Unity-Dana, 2014.-p.59]

Banks are credit institutions authorized to carry out only the first three of these operations, and non-bank institutions can carry out only some types of these operations.

In addition, credit institutions can also carry out the following activities:

• - factoring operations;
• - trust operations;
• - leasing operations;
• - issue guarantees;
• - provide safes for rent;
• - provide consulting services.

Credit institutions are prohibited from carrying out production, insurance or trading activities.

Classification of credit institutions is carried out according to a number of criteria:

• 1) depending on the type of main activity, the following are distinguished:
  • - bank credit institutions for which lending activities are the main activity;
  • - non-bank credit institutions for which lending activities are not their main activity;
• 2) depending on the form of ownership:
  • - state;
  • - non-state;
• 3) depending on the functions:
  • - central bank;
  • - commercial banks;
  • - other credit institutions.

In the case of classification by type of ownership, groups are usually called levels. The credit system, which includes only state credit institutions, is called single-tier. The credit system, which includes both state and non-state credit institutions, is called two-tier. [Banking Law of the Russian Federation: textbook. allowance/answer. ed. E. Yu. Gracheva. - 2nd ed., revised. and additional - M.: NORM: INFRA-M, 2013.-p.132]

Every country has its own set of credit institutions, which differs from other countries. The differences are due to the historical features of the development of credit relations, as well as the legislative features of regulating the activities of credit institutions. In industrialized countries, credit systems tend to be similar.

Nesterov A.K. Credit system // Nesterov Encyclopedia

The credit system is one of the significant structures of the national economic system, contributing to a significant increase in overall production efficiency and influencing the growth of labor productivity, thanks to the redistribution of free funds accumulated in banks into various sectors of the economy. The capital accumulated by financial and credit organizations can be redirected for use by enterprises, the population, and government agencies on the terms of paid use.

The concept of a credit system

The credit system includes financial and credit organizations, credit relations and forms an area of ​​​​various services for bank clients, primarily credit programs that form the basis of lending, implemented in various types and forms.

The concept of a credit system can be defined from the standpoint of presenting it as a special financial and economic category, legislative and institutional, functional and fundamental approaches.

The concept of a credit system

An approach to defining the concept of a credit system		Comments
This approach is focused on describing the credit system as a set of credit relations that arise and exist within the economic system in the form of forms and methods of lending, as well as financial and credit organizations that organize the conditions for the possibility of implementing these relations.	- this is part of the financial market and is represented by functional and institutional elements that carry out credit operations or regulate their implementation.	In accordance with this, the credit system includes the central bank, commercial banks and specialized financial and credit institutions. At the same time, the main credit system is the banking system itself, which bears the main burden of providing credit and financial services to participants in credit relations.
Legislative-institutional approach. In fact, it reflects the structure of the credit system.	is a legally established set of financial and credit institutions headed by the country’s central bank.	This definition seems to be quite narrow, since it does not directly include credit relations. At the same time, it does not seem appropriate to deny the institutional component of the credit system.
Functional approach. Reflects the essence and content of the credit system.	is a set of credit and settlement relations, operations, as well as forms and methods of lending.	In contrast to the previous definition, this approach focuses on the functional aspect of the credit system. At the same time, the institutional component of the credit system is given secondary importance, limited to an exclusively servicing nature.
Fundamental approach. Reflects the basic aspects of this category.	is a systemic set of financial and credit relations that arise between lenders and borrowers in the process of granting, using and repaying loans on the terms of repayment, payment and urgency.	It should be noted that the fundamental approach is very similar to the definition of the credit system as a special financial and economic category. At the same time, its focus solely on credit relations seems insufficiently objective.

Thus, it should be concluded that the credit system is a set of fundamental, institutional and functional aspects that reflect its financial and economic essence.

The following definition of the concept seems objective:

is a set of financial and credit institutions, credit relations that arise in the process of granting, using and repaying loans using various forms and methods of lending.

This definition reflects the fundamental, institutional and functional essence of the credit system.

Structure of the credit system

Structure of the credit system- this is a set of financial and credit organizations operating in the loan capital market that accumulate funds in order to, through credit, settlement and payment relations implemented in specific forms of credit, make a profit from providing loans to borrowers. Thus, the structure of the credit system reflects the movement of loan capital as various forms of credit.

The credit system, like any sector of the economy, needs an appropriate organization of links and a hierarchical structure. As a rule, there is a central management body, as well as grassroots or functional bodies.

The structure of the credit system can be one-tier or two-tier, but in any case it will in any case include a set of financial institutions serving the entire sphere of credit relations. At the same time, depending on the institutional organization, all credit institutions are interconnected and are included in the structural hierarchy.

Single-level structure of the credit system

A one-tier credit system assumes the presence of horizontal connections between commercial banks of the second level and special credit and financial institutions of the third level, then there are only vertical connections between the levels. The Central Bank performs the functions of a regulator and determines all aspects of the functioning of the credit system. At the same time, a single-level credit system is characterized by an increased degree of universalization of credit operations carried out by banks and functions performed by special credit and financial institutions.

Two-tier structure of the credit system

Two-tier credit system based on horizontal and vertical connections between banks. At the same time, the credit system is divided into the banking and para-banking systems. The banking part includes issuing banks, in fact this group is represented by the central bank, and non-issuing banks, which are divided into commercial and specialized banks. The parabanking part of the credit system includes specialized credit and financial institutions that are capable of accumulating temporarily available funds and placing them with the help of a loan.

The credit system consists of two groups of elements classified as the banking system and the para-banking system.

The banking system is an institutional set of elements, including various types of banks and financial and credit institutions operating within the framework of a general financial and credit mechanism. The main purpose of the banking system is to service the circulation of capital in the process of production and circulation of goods. The banking system is the main link in the financial and credit system of the state, since the burden of credit and financial services for the country’s economic turnover falls on it.

The dominant position in the banking system is occupied by issuing banks. The issuing bank issues banknotes of the country's national currency into circulation, thus, the Central Bank carries out the state emission and foreign exchange policy and is the core of the reserve system. The Central Bank, in fact, is the main regulatory body of the country's credit system.

Non-issue banks carry out all types of banking operations, operating within the framework of established standards and national legislation. Non-issue banks are divided into commercial banks, which are universal financial and credit organizations, and specialized banks.

Commercial universal banks are banks that carry out all or most of the main types of banking operations, while combining commercial and investment activities, following the principles of diversification of their operations. The clients of universal commercial banks are both small depositors and large companies. The vast majority of Russian banks are universal.

Specialized banks carry out one or more types of banking operations. Specialized banks include:

• innovative banks specializing in lending to new types of activities, technology, scientific, technical and design developments, etc.;
• investment banks specializing in raising capital for large companies and governments of various countries, financing and long-term lending to various sectors of the economy, mainly through securities transactions;
• savings banks, which specialize in opening and maintaining savings accounts and typically deal with relatively small deposits;
• mortgage banks specializing in providing long-term loans secured by land and real estate.

The parabank part of the credit system is a functional set of non-bank credit institutions focused on servicing certain types of clientele or providing certain credit services. The parabanking part of the credit system is represented only in the form of specialized credit and financial institutions, whose activities are concentrated either on servicing or on the provision of certain types of credit, settlement and financial services. These include:

• leasing companies providing property for use under a leasing agreement;
• factoring companies that purchase client receivables with payment of up to 80% of the debt amount;
• pawnshops are credit institutions that issue loans secured by movable property, including precious metals and stones;
• credit unions that attract deposits and provide loans to their members, as well as carrying out intermediary, commission operations, consulting and auditing services for their members;
• mutual credit societies serve small businesses and form their capital through contributions from participants, which is used to issue loans secured by property;
• investment companies raise funds by issuing their own shares, which are then invested in government securities and corporate securities;
• settlement (clearing) centers are engaged in carrying out settlements between their members by offsetting claims;
• insurance companies conclude insurance contracts and service them;
• pension funds attract funds from individuals, then providing them for lending to investment programs and purchasing securities;
• mutual investment funds are based on trust management of property formed from the money of investors, each of them owns a certain number of shares.

Specialized credit and financial institutions, although not formally banks, carry out many banking operations and compete with them. However, despite the gradual erasure of differences between banks and specialized financial institutions, the core of the credit system remains its banking part.

The most preferable is the two-tier credit system, which was formed in modern conditions in Russia, as well as in almost all other developed countries. A two-tier credit system as a set of credit and financial institutions accumulates free capital, as well as income and savings of various segments of the population and lends them to firms, the government and individuals.

conclusions

The credit system regulates financial and credit relations within the national economy and provides various services to legal entities and individuals as part of credit operations.

The essence of the credit system is manifested simultaneously in the fundamental aspect, institutional implementation and functional support, and its functioning depends on the holistic formation of the organization’s conditions.

• The fundamental aspect of the credit system is manifested through a set of financial and credit relations associated with the provision and repayment of loans.
• The institutional implementation of the credit system is embodied in the form of a structural set of financial and credit institutions, headed by the country's central bank.
• At the same time, without functional support, which includes credit operations, forms and methods of lending, the functioning of the credit system seems impossible.

On the one hand, the credit system is an objectively determined set of credit and settlement relations, as well as existing forms and methods of lending. On the other hand, the credit system is a complex of credit and financial institutions interacting with each other.

Prospects for the development of the credit system as a whole are related to the role assigned to the banking system and is to ensure stable economic growth and expand the capabilities of individuals, commercial enterprises and organizations to attract financial resources.

The credit system ensures the distribution of free financial resources between enterprises, the population, industries and government agencies.

The huge capital in the hands of credit institutions is constantly growing based on the principle of payment. Thanks to this, the standard of living of the population is growing, the country’s financial resources are increasing and its position on the world stage is strengthening.

The essence of the credit system

The credit system is a set of credit institutions and the credit relations that arise between them. In science, the following approaches are traditionally used to determine the essence of this concept:

• Institutional approach. According to this approach, the credit system implies the functioning of financial and credit institutions (exchanges, banks, financial companies).
• Functional approach. It assumes as an understanding of the credit system - a set of types and methods of lending.

This concept can also be considered from the point of view of microeconomics and macroeconomics. Macro extends to the entire global credit system, the interaction of lending between different countries. Micro views the credit system as a separate national sphere.

Types of credit systems

The classification of this concept exists in the context of differences in the world community. So, macroeconomically assessing, the credit system can be of two types:

1. Anglo-Saxon or segmented species. It assumes the presence of restrictions on the functioning of credit institutions on the part of government structures.
2. Continental or universal type. It implies the absence of such restrictions and the existence of a well-functioning system of state control over the activities of institutions.

Main functions

The existence of the credit system is due to its functional significance. The credit system is appropriate due to the following functions:

• Regulatory. Executed by central banks in the form of control over interest rates and the activities of commercial banks.
• Monetary and economic. Provided by banks through the movement of financial resources between recipients.

Structure of the credit and banking system

The credit system, like any other structure, needs an organization with a hierarchy and connections between its links. There is a one-tier and two-tier structure of the credit system. The first is represented by the Central Bank, commercial banks and special financial institutions. It assumes the presence of horizontal connections between banks.

The two-tier structure is divided into banking and para-banking systems, which in turn are divided into various financial institutions and institutions. The interaction between them occurs through both horizontal and vertical connections.

System elements

The structure of the credit system consists of three main elements:

• Central banks. This is the main regulator of the economy. The Central Bank issues banknotes, lends to banks and controls their work.
• Commercial banks. These institutions are engaged in credit, intermediary, deposit and stock transactions.
• Other financial institutions. They lend to specific industries and areas. These include, in particular: pension and insurance companies, investment and savings institutions.

Today, specialized credit institutions have noticeably squeezed out commercial banks, collecting the main flow of long-term monetary assets.

The credit system is only one element of the complex structure of the country's economy. With its effective functioning, the capabilities of individuals and enterprises are significantly expanded.