2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16
Today, the banking system is represented as a set of banks and various lending organizations. The central state bank has the most powerful functions, it issues money, also lends to the entire banking system, uses settlement and cash instruments, services capital construction, and carries out foreign economic trade. The entire banking system, structure and functions are regulated by the Central Bank of the Russian Federation.
Credit and banking system of the Russian Federation
Banks are divided into business and emission, this allows you to create new economic mechanisms in the country. Organizes money circulation and serves clients of the Central Bank. It has a special position - it is the central authority among all legal entities that is engaged in economic and managerial activities. It also acts as a commercial bank, but making a profit is not the main goal of its activity. No commercial bank has such resources. The main task of the Central Bank is to implement the state policy in the field of money circulation, to ensure the sustainable purchasing power of money, regulation at the legislative level and subsequently controlcommercial banks. Influencing the liquidity of banks, the Central Bank regulates macroeconomic proportions
This division of functions enables the Central Bank of the Russian Federation to focus most of its attention on the regulation of issuing activities, maintaining the stable operation of the entire banking system, engage in monetary regulation of the entire economy, as well as lawmaking.
The credit and banking system is quite functional, it includes all credit relations and accumulates the country's monetary unit, subsequently providing money in the form of loans.
Today, the country's credit system consists of several links:
- banking sector;
- Central Bank;
- insurance sector;
- various specialized financial institutions.
The Bank is a credit institution that has the right to accept deposits from legal entities and individuals with their subsequent placement at their discretion and return to the owner. The bank also opens and maintains bank accounts of legal entities and individuals. Money and the banking system are completely dependent on the Central Bank, followed by public and private banking structures. They perform the following functions:
- the issuance of long-term and short-term loans, deposits are accepted by commercial banks;
- placement of borrowed and own funds in the Central Bank is carried out by commercial banks;
- secured by real estate provide long-term mortgage loansbanks;
- pensions provided by pension funds,
- credit companies are also involved in the credit system.
The entire credit and banking system primarily depends on the Central Bank, and with the help of commercial, investment, mortgage banks, cash flow is regulated, which helps the state to influence the macroeconomics of the country as a whole. The credit and banking system is extremely important for any state.
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