Theoretical foundations of the banking policy of raising funds. Placement of funds by the bank Placement of borrowed funds
Coins, banknotes in cash and balances in accounts in central bank. A commercial bank is obliged at any time and at the first request of each client to pay him in full or the required part of the balances on his current, savings or demand deposit account. In this regard, the bank must constantly have appropriate amount cash on hand both directly at the head office and all branches of the bank. However, even theoretically, it seems unlikely that all customers would simultaneously apply to the bank for a complete withdrawal of their cash deposits. Therefore, a correctly chosen proportion of the total deposits of a commercial bank, necessary for making such payments, will be sufficient to determine the objectively necessary amount of cash on hand.
but commercial banks seek to maintain such cash balances at the minimum allowable size, since these funds do not bring them any income from their placement, being physically "frozen" in the form of cash on hand. In addition, commercial banks are forced to maintain certain balances in their accounts at the central bank to ensure daily balancing of clearing settlements with other banks in their country, which are in fact nothing more than records ( accounting entries) on the respective accounts. Such accounts are also used by commercial banks for settlements with treasuries (ministries of finance) for cash banknotes and coins received from them through central banks to replenish their cash desk or returned by them when it is reduced (in this case, the amount of the return is credited to their accounts with the central bank ).
For example, according to the prevailing last years practice, English commercial banks support on such accounts about 8% of total amount actual balances on their current, deposit, savings and other client accounts. However, in order to increase the level of profitability in the use of borrowed funds, English commercial banks, as a rule, include in the calculation of these 8% not only the actual balances on their accounts with the Bank of England, but also cash on hand.
Account balances with other banks and checks issued to such banks that are in the process of collection. Clients of commercial banks, depositing checks issued in their favor, as a rule, count on crediting their accounts with collected amounts on the same day, however, in fact, payment of such checks is made only on the second or third, and if this period falls on a weekend days, then on the fourth day after they were sent for collection.
Loans on demand or with short-term advance notice of the need to repay them. This article covers advance loans to securities brokers and jobbers and bill brokers.
These types of "exchange" loans are subject to repayment at the first request of the bank, i.e. are inherently "on-call", or at least presented with short-term prior notice from the creditor bank of the need to repay them (not exceeding 14 days in practice).
Interest rates on such loans vary depending on the types of securities secured by which they are issued, and are formed on the basis of the so-called base lending rate of the bank with a margin above the base rate of 3/4-7/8% per annum.
Other discounted promissory notes - represent commercial bills national companies and firms that can be purchased by banks from bill brokers. Naturally, banks independently take into account the bills of clients, however, if there is a need to receive certain amounts on a predetermined date, they purchase first-class bills from brokers, the due date of which falls on the date of the need for funds. By conducting transactions with well-established and well-known brokers, banks receive guarantees from them that such bills will be paid on time.
Treasury bills are bills of the Treasury (Ministry of Finance) of the relevant country for a period of 91 days, issued into circulation under the guarantee of the government. They are similar to commercial bills of exchange in that they can be discounted (assigned) before the actual due date. Weekly, with the exception of those cases when the government does not use the attraction of funds in this form, bills of exchange are issued in par value from 5 thousand to 100 thousand units. national currency. Bills of exchange can be transferred from one owner to another during the entire period of their validity, and their price in such cases will be calculated based on the number of days remaining until the due date of their payment, and agreed between the parties (buyer or seller) interest rate. Commercial banks maintain certain stocks ("portfolios") of Treasury bills, formed from their own resources, as an insurance reserve for other investments, as well as to meet the needs of the clientele (as they become available).
The share of attracted funds placed by commercial banks in treasury bills is different for each bank, while the most realistic average value can be an indicator of 8-15%. The size of the portfolio of treasury bills held by banks also depends on the official credit policy government (since treasury bills are the main position of the liquid assets of most large commercial banks - up to 25% - and accordingly affect the ability of banks to develop their credit operations) and time of year (investment by banks occurs mainly in the second half of the year, when clientele is expected to demand certain types of securities by the time taxes are paid).
The items of the assets of the balance sheet of commercial banks listed above are the most liquid, i.e. are either cash or investments that can be converted into cash as soon as possible.
Special deposits and required reserves at the central bank are a monetary policy tool aimed at limiting credit growth. central bank at any time he can introduce such placement of funds with him by the commercial banks of his country or regularly use this measure (this happens in the USA). Such funds, reducing the bank's liquid resources, inevitably reduce their lending opportunities due to the need to maintain a minimum level of liquidity prescribed by the banking control authorities.
Investments. Typically, the bulk of a commercial bank's investment is in government or corporate securities backed by a government guarantee, but it may also include, for example, local government bonds and certain other types of bonds. The structure of the bank's investment portfolio is planned in such a way that part of the securities will be due in the current year. This will somewhat reduce potential losses in case the bank needs to realize its investments. Most often, however, investments are held by banks until maturity and are generally classified into two main groups: those with a maturity within the next five years and between five and 10 years.
Loans to clientele and other accounts. This section includes the main sources of income of the bank - ordinary and overdraft loans, which are theoretically repayable on demand, although in practice such repayment is made in agreed regular installments. The main part of loans is used for education and replenishment working capital borrowers, for "bridging" financing, i.e. for the purchase of something for the period before receiving payments under the sale transaction (for example, for the purchase of new equipment before the sale of the old one), lending to the agricultural sector, in other words, are traditional types of bank loans.
The loan portfolio of the bank consists of balances on balance accounts for short-term, long-term and overdue loans. These are volumetric characteristics of the bank's loan portfolio. Qualitative characteristics are used to assess the bank's provision of loan repayment and to reduce the amount credit risks, i.e. non-repayment of the principal amount of the loan and interest on it.
Ensuring the repayment of a loan depends on the organization of the credit process in a particular bank, compliance with the procedure for issuing and repaying loans, the correct reflection of loans in accounting, especially prolonged and overdue loans, the analytical work of the bank and the correct classification of loans, the amount of reserves to cover losses on loans, the legality of operations on interbank credits and credits at the expense of centralized resources.
An important point is the analysis of the quality of loans issued to non-customers of this bank in terms of: the volume and purpose of the loan; the quality of the collateral (volume, liquidity, place of storage, quality of registration) or the type of guarantee or solvency of the insurance company that issued the policy; interest rate; financial condition the borrower; information about the borrower; relations between the bank and the borrower; terms of issuance and repayment of loans; paperwork and credit dossier; facts of prolongation or delay.
Loan debt risk group Table 2
Loan security, availability of guarantees for its repayment |
Secured |
Undersecured, return guarantees questionable |
Not secured, not guaranteed loan repayment |
Loan repayment on time |
|||
% deductions to the reserve |
|||
Loan arrears up to 30 days |
|||
% deductions to the reserve |
|||
Loan arrears from 30 to 60 days |
|||
% deductions to the reserve |
|||
Loan arrears from 60 to 180 days |
|||
% deductions to the reserve |
|||
Loan arrears over 180 days |
|||
% deductions to the reserve |
In the practice of Russian commercial banks, there is a classification of loans issued and an assessment of credit risks (table 2).
A secured loan is a loan that is secured by liquid collateral, the real value of which is equal to or greater than the loan debt, or that has a bank guarantee, a government guarantee. Russian Federation and subjects of the Russian Federation, or a loan insured in accordance with the established procedure.
Undercollateralized loan - having partial collateral (at a value of at least 60% of the loan amount), but its real value or ability to implement it is doubtful.
An unsecured loan is a loan that does not have collateral or the real value of the collateral is less than 60% of the loan amount.
Risk group 1 "Standard loans" includes loans for which the principal is repaid on time and in full, including loans prolonged in the prescribed manner, but not more than two times, as well as overdue secured loans up to 30 days. Under standard loans, commercial banks are required to create a provision for possible losses on loans in the amount of at least 2% of the amount of loans issued.
Risk group 2 "Non-standard loans" includes loans that are overdue by up to 30 days and secured loans that are overdue by 30 to 60 days. Commercial banks are required to create a provision for possible losses on non-standard loans in the amount of 5% of the amount of loans issued.
Risk group 3 "Doubtful loans" includes unsecured loans overdue up to 30 days, insufficiently secured loans overdue from 30 to 60 days, and secured loans overdue from 60 to 180 days. Commercial banks are required to create a reserve for possible losses on doubtful loans in the amount of 30% of the amount of loans issued.
Risk group 4 "Dangerous loans" includes unsecured loans that are overdue from 30 to 60 days, as well as insufficiently secured loans that are overdue from 60 to 180 days. Commercial banks are required to create a reserve for possible losses on dangerous loans in the amount of 75% of the amount of loans issued.
Risk group 5 "Bad loans" includes unsecured loans overdue from 60 to 180 days and all loans overdue by more than 180 days. Commercial banks are required to create a provision for possible losses on such loans in the amount of 100% of the amount of loans issued.
In addition to cash on hand and balances (deposits, reserves) in accounts with the central bank, such assets include balances in accounts with correspondent banks, as well as discounted bills suitable for rediscounting with the central bank. The listed items usually refer to liquid assets, and their size characterizes the bank's ability to quickly release (to replenish the cash desk and accounts in the central and commercial banks) additional funds to meet the requirements of depositors regarding the return of placed resources to them.
In addition to these articles, in a number of developed and developing countries liquid assets also include government bonds and some of those issued by specialized banking institutions securities that can serve as a source of funds from the central bank from their sale to it or for obtaining a loan secured by them (for example, in Germany and Switzerland). Even if these investments cannot be used to raise funds from the central bank in the presence of a developed capital market, they can be sold quite freely (for example, in England) and therefore these assets should also be taken into account when determining the level of bank liquidity.
The least liquid items of banking assets are investments in real estate, in buildings and equipment of the bank, in the capital of other institutions of the credit and financial sector of various companies and firms, especially if they are unquoted securities(usually shares). It is generally accepted that such investments should be made at the expense of own funds bank, as being by nature long-term investment, they do not correspond to the predominantly short-term nature of the funds raised.
Summing up the first chapter, we can say that commercial banks are at the forefront economic processes and are subject to close attention and control by the state. The efficient operation of banks largely depends on economic policy states.
Having considered the main activities of commercial banks, we can also conclude that banks are the main economic institutions, accumulating colossal cash flows and as a consequence are the main credit institutions.
The market of services for the placement of attracted funds in the most profitable segments of the economy is represented by the following banking services specified in the Banking Law:
1) placement Money on its own behalf and at its own expense;
2) issuance of bank guarantees;
3) issuance of guarantees for third parties, providing for the fulfillment of obligations in cash;
4) acquisition of the right to claim from third parties the fulfillment of obligations in cash;
5) leasing operations.
Services of banks for the placement of funds on their own behalf and at their own expense represent the most important group of banking operations, called active. When carrying out active operations, the bank acts on its own behalf as the owner of funds, regardless of whether the bank's own capital or borrowed funds are the source of funds.
The active operations of banks include the issuance of bank loans, including interbank loans, the purchase by the bank on its own behalf of securities, currency, precious metals, etc. The bank margin can be expressed as a percentage or as exchange differences. Thus, when a bank purchases bills of exchange, the bank relies primarily on income in the form of interest paid on these papers. When a bank buys shares, it usually expects a positive change market value these papers.
A special place among the active operations is the issuance of loans by banks. Loan agreement- a type of loan agreement with a special subject ( credit institution) on the side of the creditor. Under a loan agreement, the credit institution undertakes to provide funds to the borrower on the terms stipulated by the agreement, and the borrower undertakes to return the received sum of money and pay interest on the loan.
As a rule, the conditions for granting a loan are set out in a loan agreement in some detail. However, in order to conclude loan agreement it is enough to reach an agreement only on the amount of the loan, because all other conditions can be determined on the basis of the law.
Typically, a loan is issued upon the provision of security for its return. Collateral may be a pledge of property of the borrower or a third party, bank guarantee, guarantee of a third party, guarantees and guarantees of authorities government controlled Russian Federation, its subjects and municipalities. It should be noted that among those mentioned in Chap. 23 of the Civil Code of the Russian Federation of ways to ensure obligations in practice bank lending not all are applied effectively enough. Thus, the penalty is considered rather as a measure of responsibility for the borrower's improper performance of its obligations, and not as a way to secure an obligation; retention is also rarely used: it requires the lending bank to own some of the borrower's assets, which is very rare. As a rule, the role of securing a loan in banking practice is performed by an insurance policy of business risk insurance.
A service for the acquisition by the bank of promissory notes of third parties is widespread. As a result, the same economic effect is achieved as with lending: persons liable for securities receive the funds they need.
To ensure its activities, a bank must have certain funds and tangible assets, which in total constitute its resources. The vast majority of these funds are formed not at the expense of their own, but at the expense of attracted resources.
Raised capital is the funds raised by the bank from legal and individuals on terms of repayment in order to place these resources on the market.
A commercial bank has the ability to attract funds from enterprises, organizations, institutions, and the public through the following banking operations:
Opening and maintaining accounts of legal entities, including correspondent banks;
Attracting deposits of funds of individuals;
Issuance by the bank of its own debt obligations.
For banks, deposits are the main type of passive operations, and, consequently, the main resource for conducting active lending operations.
One of the most important sources of liabilities - the cash of the population. Considering the monetary incomes of the population and the ways of their movement in the economy, the English economist John Maynard Keynes noted that the propensity of the population to save is one of the main reasons for the reduction in the sale of goods, production volumes and jobs. In fact, the vast majority of savings is "deferred demand" due to the accumulation of money for purchases of durable goods and other special needs. With pent-up demand, the main work of commercial banks is related to attracting funds from the population in deposits (deposits).
Deposit services of banks are services for attracting, storing and increasing the value of free funds of clients.
The main reasons for attracting funds to deposits are:
1. The funds of the population and organizations are a relatively stable resource for a bank.
2. commercial banks can attract a lot of resources;
3. deposits are a relatively cheap resource for a bank compared to interbank loans, bank bills and other financial instruments.
According to the degree of reliability for placement in banking assets, the attracted funds are distributed in the following sequence:
1. deposits of legal entities, funds raised under bills of exchange and certificates of deposit;
2. fixed-term deposits of individuals, funds attracted under savings certificates;
3. demand deposits of individuals, balances on accounts for settlements with bank (plastic) cards, balances on settlement (current currency) accounts legal entity, on correspondent accounts of correspondent banks.
Among the deposits of legal entities, the largest source of attracting resources by the bank into its turnover are:
* customer funds on settlement accounts;
* Funds on the accounts of correspondent banks.
In their economic essence, these accounts are demand deposits. Funds from these accounts can be withdrawn at any time, without prior notice, at the first request of their owners, so the bank pays minimum interest rates on them. These accounts are regulated by the bank account agreement.
The balances on settlement accounts of legal entities and correspondent accounts of correspondent banks are mobile, which forces banks, in order to maintain their liquidity, to keep their highly liquid assets at a sufficient level (cash on the bank’s cash desk and on a correspondent account with the RCC of the Bank of Russia, in government securities ). At the same time, legal entities can place a fixed amount of their temporarily free funds in the bank on time deposit accounts.
However, despite the mobility of funds, it is possible to calculate their non-decreasing balance and transfer them to time deposit accounts in order to increase income from funds placed in the bank and form a stable lending resource. The calculation is made according to the formula:
money bank liquidity solvency
where D is the share of funds kept during the year on settlement and current accounts that can be transferred to deposit accounts;
About cf - the average balance of funds on the settlement or current account for the year;
K o6 - credit turnover on the settlement or current account for the year.
Term deposits are money deposited in a bank for a certain fixed period. The Bank is interested in attracting term deposits, as they are stable, so it pays a higher interest on them than on demand deposits.
Keeping funds on time deposits is beneficial for both clients and the bank. Banks use borrowed funds for a long period known to them in advance. This gives the bank the opportunity to increase the volume of credit resources.
The advantage of time deposits for the client is to receive high percentage, and for the bank - the possibility of stable maintenance of liquidity.
The disadvantage of fixed-term deposit accounts for customers is the inability to use the funds on the accounts for settlements and current payments, as well as for receiving cash. For the bank, the disadvantage is the need to pay increased interest on deposits and thus reduce the margin.
Bank margin - the difference between the rates of credit and deposit interest, between lending rates for individual borrowers, between interest rates on active and passive operations.
The types of time deposits of legal entities and individuals include bank certificates and bank bills, which are the bank's own debt obligations.
A savings (deposit) certificate is a security that indicates the amount of the deposit and the depositor's rights to receive it at the end due date: the amount of the deposit and accrued interest, in the bank or its branch. A certificate of deposit is issued only to legal entities, and a savings certificate is issued to individuals.
Certificates are only urgent. Through certificates, the bank can only attract the national currency. The term of circulation of the certificate is determined by the bank. Repayment for legal entities is carried out by non-cash transfers to other types of deposits or to demand accounts (settlement, current), and in relation to individuals - in cash.
For the profitable issuance of a certificate, the following points are taken into account:
· reliable guarantees of payment of face value and accrued interest;
· Contributor-friendly minimum certificate limit;
an attractive interest rate for investors;
Standard terms of issue (multiple denomination, convenient dates of issue and redemption).
The advantage of a certificate, in comparison with a term deposit, is its early transfer (sale) by the owner to another person with some income for the time of storage and without changing the volume of the bank's resources, while early withdrawal by the owner term deposit means for him the loss of income, and for the bank - the loss of part of the resources.
Deposits can also be issued by bank draft.
A bill of exchange is a security containing promissory note bank on payment to the bill holder of the specified amount at a specific place and at a specific time.
The advantages of a bank bill as a form of raising free funds include the following factors:
· the possibility of banking fun to act as a highly profitable means of accumulation in combination with high liquidity;
Ease of issuing a bill of exchange into circulation, since there is no need to register the issue with the Main Directorate of the Central Bank of the Russian Federation, in contrast to the issue of bank certificates;
· the possibility of transferring a bill of endorsement to legal entities and individuals, which makes it a highly liquid medium of circulation;
the possibility of using it as a means of payment in settlements for goods and services between legal entities and individuals;
· the right of the issuer to independently set the maturity date of their promissory notes, as well as to redeem them ahead of schedule, which cannot be done with regard to certificates;
Possibility to serve as collateral when customers apply for loans in other banks;
· Possibility of issuing promissory notes both in series with equal denominations and in a one-time order for an arbitrary amount.
Investments by clients in a bank bill of their free funds is an attractive, reliable and profitable business. Banks are also not prohibited from issuing currency bills, which contribute to attracting funds in foreign currency.
It can be seen from the above that the attracted funds of the bank are an important source of resources. To form attracted resources, the bank uses the following operations: opening and maintaining accounts of legal entities, including correspondent banks; attraction of deposits of funds of individuals; issuance by the bank of its own debt obligations. These operations also have some disadvantages. It's about first of all, about the significant material and monetary costs of the bank when attracting funds. And, nevertheless, the competition between banks in the market of credit resources forces them to take measures to develop services that help raise funds.
Banking Law Rozhdestvenskaya Tatyana Eduardovna
1. Placement of funds
essence banking is the transformation of savings into investments. Therefore, it was important for the legislator to emphasize the authority of a credit institution to direct funds attracted to deposits as investments and loans to third parties. As a matter of fact, the profit of credit institutions is formed largely due to the difference between payments on deposits made by a credit institution and payments on loans issued by it and other so-called active operations. However, "resource base" credit institution is formed not only at the expense of funds raised in deposits, but also at the expense of its own funds (including authorized capital credit institution, i.e. the amount of investments of its founders (participants), various funds, retained earnings, attracted subordinated loans, etc.). In other words, in reality, both funds attracted to deposits and other sources are placed, only credit institutions have the right to use the funds transferred to them as a deposit for active operations.
The placement of funds takes place in various civil law forms:
1) lending;
2) a loan, including the purchase of promissory notes and bonds of third parties;
3) placement of funds on deposits in other banks;
4) "holding" of funds in the form of balances on correspondent accounts opened with other banks;
5) implementation of financing transactions against the assignment of a monetary claim;
6) making so-called transactions repo(provision of funds in the form of the acquisition of securities with the obligation to resell them);
7) acquisition of shares;
8) acquisition of other securities.
The main civil law form of placement of funds is a loan transaction. The possibility of receiving the loan amount at a time different from the moment of signing the contract creates certain risks for the borrower: he must be confident that the loan will be issued to him at his request. Due to the fact that credit institutions carry out lending on a systematic and professional basis, the borrower gains such confidence. Thus, greater flexibility is achieved in the use of funds received as loans: so-called loans can be opened for the borrower. credit lines, in accordance with the terms of which he can apply to the bank for a loan in a certain part specified in the loan agreement; after repayment of part of the previously issued loan amount, etc. In turn, both the issued loan and the obligation to issue it create certain economic risks for the credit institution, which are regulated by the Bank of Russia in accordance with the requirements of federal laws (in particular, the Bank of Russia requires the creation of reserves for loans issued, as well as for the obligation to issue a loan).
The placement of funds is regulated not only by civil law. The norms of civil legislation determine only the nature of the relationship between a credit institution and its borrowers. The placement of funds creates risks for the credit institution itself, primarily - credit risk, i.e. the risk of non-return of the issued funds. This risk may affect not only the credit institution itself, but also its creditors, including depositors who have placed their funds in deposits. Therefore, the Bank of Russia carries out regulation aimed at limiting this risk by establishing special mandatory standards(for example, the Bank of Russia regulates the ratio of own funds and assets, the ratio of assets and liabilities, the risk per borrower or a group of related borrowers, etc.), the definition of reserves that a credit institution must create for issued loans and other types of “loans” ( in the economic sense of the term), etc.
Reducing the risks of credit institutions that systematically place funds in a professional manner, and, consequently, reducing the cost of the resources they provide, has given rise to the need to create legal mechanisms to counteract the receipt of loans by unscrupulous persons, which are obviously not repayable. For this purpose, the Federal Law of December 30, 2004 No. 218-FZ “On Credit Histories” was adopted. The objectives of this Law are to create and determine the conditions for the formation, processing, storage and disclosure of bureaus credit histories information characterizing the timeliness of the fulfillment by borrowers of their obligations under loan (credit) agreements, increasing the security of creditors and borrowers by reducing credit risks in general, and increasing the efficiency of credit institutions.
Relations related to the internal procedures of credit institutions, including settlement relations, as well as the procedure for calculating interest on issued loans, are regulated by Bank of Russia Regulation No. 54-P dated August 31, 1998 “On the procedure for the provision (placement) of funds by credit institutions and their return ( repayment).
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Placement of funds by the bank
"...1.2. For the purposes of this Regulation, the placement (provision) of funds by a bank is understood as an agreement between the bank and the client drawn up taking into account the requirements Civil Code Russian Federation. Article 1 federal law"On banks and banking activities" (Bulletin of the Congress of People's Deputies of the RSFSR and the Supreme Soviet of the RSFSR, 1990, N 27, item 357; Bulletin of the Congress of People's Deputies of the Russian Federation and the Supreme Soviet of the Russian Federation, 1992, N 9, item 391; 1992, 34, item 1966; Collected Legislation of the Russian Federation, 1996, N 6, item 492; 1998, N 31, item 3829) transfers funds on the terms of payment, urgency and repayment, and the bank client returns the received funds in in accordance with the terms of the contract.
Placement (provision) of funds can be carried out both in national currency Russian Federation, and foreign currencies in compliance with the requirements of the current legislation ... "
A source:
"on the procedure for the provision (placement) of funds by credit institutions and their return (repayment)" (approved by the Bank of Russia on August 31, 1998 N 54-P) (as amended on July 27, 2001) (Registered in the Ministry of Justice of the Russian Federation on September 29, 1998 N 1619)
Official terminology. Akademik.ru. 2012 .
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Bank- (Bank) A bank is a financial and credit institution that conducts operations with money, securities and precious metals Structure, activities and monetary policy banking system, essence, functions and types of banks, active and ... ... Encyclopedia of the investor
BANK(S)- in accordance with Art. 70 BC is recognized by the bank commercial organization which, on the basis of a license issued by the National Bank of the Republic of Belarus, has the exclusive right to exercise in the aggregate Bank operations, provided for in part one ... Legal Dictionary of Modern Civil Law
active operations (of banks)- placement by the bank of its financial resources in order to put them into circulation and make a profit. The most common forms of such operations are the provision of funds on credit at interest, investments in securities, investments ... ... Dictionary of economic terms- (Banking System) The banking system is a set of banks operating in the country, credit institutions and individual economic organizations, which operate according to the unified rules of the country's monetary policy Definition of the banking system, ... ... Encyclopedia of the investor