Introduction

Chapter. 1 The concept of credit. Monetary relations.

1.1 The concept of credit. Monetary relations.

1.2 Causes of a loan

Chapter. 2 The history of the emergence and development of credit relations.

Their evolution.

2.1 Milestones in Credit Development

2.2 Modern arrangement of the lending structure

Conclusion

Glossary

List of sources used

Annex A

Annex B

Introduction

The topic of my course work: “The causes and history of the emergence and development of credit relations. Their evolution”, I did not describe the development of credit relations on the examples of individual states, but gave general concepts stages of their development. The history of the development of credit relations was not so easy and fast. In its historical development, credit passed through several successive stages, each of which was characterized by radical transformations both in terms of its distribution and functions, and direct participants.

It began with money changers and usury and continues into modern banks. In the first chapter, I defined the basic concepts of credit relations and revealed the reasons for the emergence of a loan.

Credit is one of the most important categories economics. The works of the classics of Marxism, numerous works of Soviet and foreign economists are devoted to its study. However, this topic is relevant, since credit relations in modern conditions have reached greatest development. “At present, we are no longer talking about a constant increase in the volume of money capital provided for loans, but also about expanding the subjects of credit relations, as well as the growing diversity of the operations themselves.”

Speaking about this topic, one cannot but mention the problems that our economy is facing in transition period to a real market mechanism of functioning (banking crisis), which requires more radical transformations in the monetary sphere. At present, there is a need to fully use the economic levers inherent in the credit sector, to develop and implement fundamentally new approaches to managing the country's money circulation.

All these facts indicate that it is necessary to pay great attention to the problem of credit, since the economic condition of the country largely depends on the state of the credit monetary system. Therefore, it is necessary to take into account the experience gained developed countries in this domain. There is a need to reform the entire credit system(and not only), aimed at creating credit institutions on a joint-stock basis, developing new forms of loans in our country, such as consumer, commercial, various forms of rent, in particular leasing. This will accelerate the development of our country's economy and make it more efficient.

The purpose of my coursework is to find the causes of a loan, to trace the history of the emergence of credit relations. And also to explore the current conditions and opportunities for the existence and development of credit.

Chapter. 1 The concept of credit. Monetary relations. 1.1 The concept of credit. Monetary relations.

Credit comes from the Latin creditum"(loan, debt). At the same time, "kreditum" is translated as "I believe", "I trust." In the broad sense of the word: from a legal, economic point of view - a loan is a transaction, an agreement between legal or individuals about a loan or a loan. Credit is largely a condition and prerequisite for development modern economy and integral element economic growth. It is used by both large associations and enterprises, as well as small trade, manufacturing and other enterprises. (Appendix A)

The invention of credit, after money, is a brilliant discovery of mankind. Thanks to him, the time to meet the personal and economic needs of citizens and enterprises has decreased. Citizens, using a loan, get the opportunity to use the additional funds received to expand their business or speed up the process of obtaining at their disposal benefits that, without a loan, they could only own in the future.

One of the partners (lender, creditor) provides another (borrower, borrower) money (sometimes property) for a certain period with the condition of returning an equivalent value, as a rule, with payment for this service in the form of interest. With a loan, a loan or loan agreement appears (the concepts of loan and loan can be used as synonyms). In modern conditions, all loans are issued in the form of a cash loan, and credit relations are part of all monetary relations. The main thing that distinguishes a monetary loan from all other forms of monetary relations is the return movement of value. In a loan, production relations are expressed when business entities, the state, organizations or individual citizens transfer value to each other on terms of repayment for temporary use. Credit refers to all monetary relations related to the provision and repayment of loans, the organization of cash settlements, the issuance of cash banknotes, lending to investments, the use of state loan, insurance transactions (partially), etc. Money acts as a means of payment wherever there is credit. Even when a borrower receives, for example, a seed loan, it is in the form of a cash loan. Therefore, credit special shape money movements. This is the market category. The market should be served by a special fund Money(let's call it the company's loan fund), which can be provided by an economic entity on a repayment basis. The form of movement of the loan fund is a loan. Credit serves the movement of capital and constant movement bloated public funds. Thanks to credit in the economy, the funds released during the operation of enterprises, in the process of implementing the state budget, as well as the savings of individual citizens and the resources of banks, are used productively. How do funds appear that can be used as borrowed resources to meet the needs of commodity producers and the state? Free cash is generated in the process economic activity enterprises. Having received proceeds from sold products, the enterprise gradually, in parts, spends it on the purchase of raw materials, fuel, materials, it also uses part of the profit received not immediately, but some time after its receipt. As a result, temporarily free funds are formed on the accounts of enterprises in banks. The temporary release of funds also occurs as a result of the fact that the value of fixed assets is transferred to the goods produced in parts and returned to the enterprises in the form of money. These funds are spent gradually, in connection with which free financial resources in the form of unused sinking funds. The wages of workers and employees are usually paid twice a month, and the receipt of money for the sold products occurs more often, which also provides for certain deadlines release of funds. The receipt of funds in the budget and their expenditure do not always coincide in time, therefore, free balances of funds are formed for a certain period.

When considering the amount of fees for a loan, banks should consider the following factors:

Refinancing rate of the Central Bank of the Russian Federation;

Medium interest rate attraction (the rate of attraction of interbank loans or the rate paid by the bank on deposits of various types);

The structure of credit resources (the higher the share of borrowed funds, the more expensive the loan should be);

Demand for credit from outside potential borrowers(the lower the demand, the cheaper the loan);

The term for which the loan is requested, the type of loan, or rather the degree of its risk for the bank, depending on the security;

Stability of monetary circulation in the country (the higher the inflation rate, the more expensive the loan fee should be, since the bank has an increased risk of losing its resources due to the depreciation of money).

When lending, various forms of credit are used. In modern conditions, the following forms of credit are known, the degree of development of which is different.

1. commercial loan- the earliest form of credit - is provided to the buyer in the form of a commodity in the form of a deferred payment for the goods sold. Target commercial loan- accelerate the movement of goods. Typically, this loan

issued by a promissory note or by opening an account. Commercial lending arises due to a mismatch between the terms of delivery of goods and cash payments for them. In the process of calculations

there is a receivable-crodi-tor debt, as a result of which buyers could use the received material values before their payment, or suppliers received money before (prepayment) the shipment of goods or the performance of work. Companies are the parties to the loan.

2. Bank loan- unlike a commercial loan, it arises between an enterprise, organization, population (borrowers) on the one hand, and a bank

(creditor) on the other. A bank loan has a strictly targeted and urgent character, aimed at reducing distribution costs through the system of cashless payments, redistributing capital and accelerating its concentration in the most profitable

areas of the economy.

3. State loan- this is a loan in which the state can act both as a lender and as a borrower. The state can issue loans to other countries, enterprises and organizations, regions. The state, placing its bonds and other securities among enterprises, organizations and the population, acts as a borrower in the amount of the issue of government debt.

State loans are of the following types:

Internal and external; short-term, medium-term and long-term; winning, coupon and interest.

4. consumer credit- appears as borrowed money provided by the state, banks and enterprises to the population. These are employee loans.

5. Interbank loan- a loan, the parties to the transaction of which are banks; issued to commercial banks Central Bank and each other

6. Inter-farm loan- at this loan the subjects of credit relations are various enterprises and organizations that provide funds to each other on a repayment basis. This loan arises in case of temporary financial difficulties, for the implementation of joint programs and projects, in the provision of

financial assistance in other similar cases

7. International credit- arises in the foreign economic turnover of the state and acts in the forms of commercial, state and bank loans. In all cases, one of the parties to the credit transaction is a foreign entity - an enterprise or the state.

Finding out the functions of credit is of great practical value because it allows you to use it most effectively. Credit performs the following three main functions:

1. Distribution - it consists in the distribution of funds on a returnable basis. It manifests itself in the accumulation of funds, as well as in their placement. Specifically, this function is manifested in the process of temporary provision of funds to enterprises and organizations to meet their needs for financial resources.

2. Emission - it consists in the creation of credit means of circulation and replacement of cash. It manifests itself in the fact that means of payment are created in the process of lending, i.e. In circulation, along with money in cash, there is also money in non-cash form.

3. Control - it consists in monitoring the effectiveness of activities economic entities. The operation of this function is manifested in the fact that in the economy that received the loan, comprehensive control is exercised by the ruble. It is on the basis of credit relations that monitoring of the activities of borrowers and creditors is built, the creditworthiness and solvency of enterprises are assessed.

1.2 Causes of a loan

Credit relations are an essential element of commodity-money relations in general. Some of their elements in the form of loans and interest took place in ancient times in a slave-owning society, which was also associated with the presence of wastefulness. However, their formation with elements characteristic of modern credit relations, i.e. the presence of loan capital applies only to capitalist production.

Under the dominance of natural economy, even under the slave-owning system, real production has always been represented by a combination of individual economic units. This, to some extent, necessitated economic ties between them. This also applies to feudal economic relations, in which it was characteristic of the sale of surplus products of economic entities on the market, exceeding their own needs of their producers or owners of feudal farms.

Thus, natural economy could exist in its purest form only among primitive peoples. At present, the natural way of life partly belonged only to individual tribes for one reason or another, divorced from modern world civilization.

At the same time, already in the IV millennium BC. in the ancient Eastern slave-owning states, there were elements of the purchase and sale of material goods, as well as debt slavery. This is confirmed by archaeological data and later, which have come down to the present, specific written sources of the ancient Eastern slave-owning states, indicating the presence of elements of commodity-money relations, including loan and usury elements.

The need and possibility of a loan is due to the laws of circulation and turnover of capital in the process of reproduction: in some places they are released temporarily available funds, acting as a source of credit, on others there is a need for a loan, for example, to expand production. Thus, the loan contributes to economic growth: the lender receives a fee for the loan, and the borrower increases its production assets and updates them, the volume of production, the development of new technologies.

Credit is also the main source of satisfaction of the huge demand for monetary resources. Even with high level profitability and self-financing for economic entities is not enough own funds for current activities and investments. Loans are needed (for example) when:

· The enterprise is “in a breakthrough”, because the sale of products has failed for one reason or another.

· Failed by suppliers or buyers

· Difficulty with payment wages employees, etc.

But the need for financial resources does not decrease, but, on the contrary, increases many times over and becomes especially relevant due to the deep technical re-equipment requiring large investments. Thus, credit stimulates the development of productive forces, accelerates the formation of capital sources for expanding production based on the achievements of scientific and technological progress.

In the context of Russia's transition to a market economy, the role and importance of credit relations is increasing. Development market relations assumes the maximum reduction of the centralized redistribution of monetary resources and the transition mainly to their horizontal movement on financial market. The role is changing credit institutions in management national economy increases the role of credit in the system economic relations. With a loan in market economy, first of all, the process of capital overflow from one branch to another becomes easier and becomes real. In this case, the loan loses the limitation of individual capital. Loan capital is redistributed between industries, taking into account market conditions, to those areas that provide higher profits or are priorities from the point of view of Russia's national interests. This ability of credit is of a public nature and is actively used by the state in regulating production proportions.

Thus, Russia's transition to a market economy, overcoming the crisis and resuming economic growth, improving the efficiency of the economy, creating the necessary infrastructure cannot be ensured without the use and further development of credit relations.

The credit system, in our opinion, is a historically established element of the economic national (global) system; it can be defined as an ordered set of credit institutions, forms of credit relations and methods for implementing credit policy; has the property of debt management based on the interaction of its components.

Three types can be distinguished general principles from which the types of credit system are formed.

Abstract systems form principles of the first kind. These are general, abstract maxims. They are required to be so obvious that they cannot be doubted. Indeed, if they were unreliable, then we would not have confidence in the correctness of the conclusions drawn from them. These systems are perceived as an ordered set of debt relations.

The study of abstract systems involves the use of the axiomatic method.

hypothetical systems. Principles of the second kind are propositions put forward to explain things whose causes could otherwise not be stated. These principles form hypotheses. Such systems are perceived as economic policy regarding the totality of debt relations (desired totality).

The study of hypothetical systems involves the use of mythohypotheses.

genetic systems. These systems are recognized as the genesis of the experience of the credit system. They are based on firmly established facts, ie. principles of empirical science.

The study of hypothetical systems involves the use of the genetic method.

The first and second systems are confirmed or refuted in the process of historical experience. Principles of the third type reflect this process and are conditionally true knowledge. True knowledge is formed only on the basis of the synthesis of all three types of systems.

Modern "credit science and practice" is increasingly moving away from the axiomatic approach. It is increasingly based not on the axioms of credit theory, but on hypothetical premises regarding the principles of building a credit system, which can be defined as "mythohypotheses of credit theory."

The objective need for a loan due to the peculiarities of the circulation of capital. These include:

Continuing Education cash reserves and the emergence of temporary additional needs for them;

Different duration of the turnover of funds from economic entities;

The relationship of cash and non-cash money circulation;

Separation of capital from economic entities.

The emergence of a loan is due to the need:

Overcoming the contradictions between the constant formation of monetary reserves deposited in the process of turnover of enterprises, the budget, the population, and their full use for the needs of reproduction;

Ensuring a continuous process of circulation of capital in the conditions of the functioning of numerous industries and enterprises with different durations of the circulation of funds;

Organization of the functioning of the means of circulation and payments based on the credit nature of the issued banknotes and non-cash funds.

The availability of free cash and the need for it in different economic entities do not match either in amounts or in time. When the need for cash from an economic entity exceeds the amount available to him own sources, then it can be satisfied at the expense of borrowed resources. Thus, temporarily free funds do not remain unused, but are involved in economic turnover. As a result, the rate of reproduction is accelerated due to more effective use all cash funds.

Chapter. 2 The history of the emergence and development of credit relations. Their evolution.

2.1 The main stages in the development of credit relations

In its historical development, credit passed through several successive stages, each of which was characterized by radical transformations both in terms of its distribution and functions, and direct participants.

Primary formation. The main feature of this stage was the complete absence of specialized intermediaries in the loan capital market. Credit relations were established directly between the owner of free cash and the borrower. The credit acted in the form of exclusively usurious capital, characteristic features which were:

1. complete decentralization of loan relations, determined only by a direct agreement between the lender and the borrower;

2. limited distribution (the loan was used mainly in the sphere of circulation and partly for the purpose of non-productive consumption, i.e. without subsequent capitalization);

3. ultra-high rate of interest as payment for the use of borrowed funds.

Loan of money, i.e. the provision of their loan from one person to another at a certain percentage was widely practiced by the so-called money changers in ancient Greece and ancient Rome. The latter were mainly engaged in the exchange of money - gold and silver of various denominations. This service was provided to persons in need of money, which actually belonged to the merchant class. However, in recent centuries BC and at the beginning of the new era were not developed credit relations.

The completion of this stage was associated with the formation of the capitalist mode of production, which determined a sharp increase in the need for borrowed financial resources for the purpose of their production consumption (that is, with mandatory subsequent capitalization). The individual capitals of usurers were objectively unable to satisfy this demand, which prompted some of them to use in their activities funds borrowed from other owners (changers began to perform similar functions, other traditional participants in financial relations, previously specializing exclusively in exchange of national currencies).

In the middle of the century, in European countries, on the basis of the money change business, special money changers began to appear, which was also initially associated with the need for money exchange operations. The money changers began to be called banks. (In Italian, banks are a bench on which money changers were located directly on the street.) The bankers gradually accumulated excess funds, which they began to use more widely in credit and commercial transactions, lending money for a certain period at interest.

In general, in the history of credit relations, the role of usurious capital is not unambiguous. It is capable of both separating medium and small feudal lords and freeing peasants - future urban hired peasants. At the same time, significant loans to the rulers of feudal states contained the elimination of the feudal system that existed in them.

Other foundations were required in the economy, so that usurious capital with its high usurious interest would give way to loan capital.

Structural development. The stage of credit development under consideration was characterized by the appearance on the loan capital market of specialized intermediaries represented by financial institutions. The first banks, which arose on the basis of large usurious and money changers, assumed the most important functions, which later became traditional for most credit institutions:

1. accumulation of free financial resources with their subsequent capitalization and transfer to borrowers on a fee basis;

2. maintenance of certain types of payments and settlements for legal entities and individuals (hereinafter - for the state);

3. holding a number of special financial transactions(for example, servicing the mechanism of bill circulation, real estate transactions).

The growing level of demand for the services of specialized intermediaries and, accordingly, the high rate of return on the loan capital market predetermined the rapid development banking system due to the flow of capital into it from other areas of activity (the founders of the newly created credit organizations were no longer usurers or money changers, but industrial and commercial capitalists). Relations in the loan capital market began to acquire a somewhat formalized character, standard lending procedures were established, average regional and average national rates loan interest, the mechanism of responsibility of the parties, etc. However, in general, the activities of credit institutions were still decentralized, which objectively impeded the development of the loan capital market, and in the conditions of cyclical development of the economy, at times provoked an aggravation of disproportions in other financial markets.

In the 17th-18th centuries, in the countries of Western Europe, with the development of industrial (manufactory) production and the real manifestation in commodity-money relations not only of commercial and usurious capital, but also of industrial capital, completely different processes were required for the functioning of credit (loan) relations, as well as the formation the level of interest. In economic theory loan capital traditionally considered as a set of funds, on a repayable basis, provided for temporary use for a fee in the form of interest.

The specificity of loan capital is most fully manifested in the process of its transfer from the lender to the borrower and vice versa:

Loan capital as capital is property, the owner who gives it to the borrower, and for a certain time;

The consumer value of loan capital is determined by the ability of the borrower, using it effectively, to obtain a certain profit;

The form of alienation of loan capital - the procedure for transferring it from a lender to a borrower always has a discontinuous nature and payment mechanism;

The peculiarity of the movement of loan capital - in contrast to industrial and commercial, and in the process of transfer from the seller to the buyer are in an exclusively monetary form.

On the first stage In the development of credit relations, the only source of the formation of loan capital was temporarily free funds transferred on a voluntary basis to credit institutions for subsequent capitalization.

On the second stage development of credit relations, as the development non-cash form settlements with the direct participation of banks, funds temporarily released in the process of circulation of industrial and commercial capital became a new source of loan capital formation. These include:

Enterprise depreciation fund to upgrade the expansion and recovery of fixed assets;

Part of working capital in cash, released in the process of selling products and making material costs;

Cash generated as a result of the gap between receiving money from the sale of products and the implementation of material costs;

Profit going to the renewal and expansion of production. (Appendix B)

Current state. The main feature of this stage is the centralized regulation of credit relations in the economy by the state represented by central bank. The emergence of the first nationwide state credit institutions, endowed with monopoly functions for the coordination and regulatory and methodological support of credit and monetary relations, contributed to the formation of a full-fledged system of non-cash money circulation, as well as a significant expansion of the list of services and operations of commercial banks, for example, servicing stock market. In the future, the activities of central banks developed in the direction, first of all, of using credit levers as one of the most effective regulators of a market economy, which required a certain tightening of control on their part over the work of non-state credit organizations. Finally, the development of information technologies in the economy, the formation of global banking networks, computer communications and databases have made it possible to bring credit relations to a fundamentally new qualitative level in terms of both customer service techniques and their distribution to all areas. financial activities, including in international markets.

2.2 Modern arrangement of the lending structure .

The method of lending by balance has lost its practical significance in the transition to market conditions management period since during the first stage of the banking reform of the 1980s, the objective process of transition from lending to numerous, disparate lending objects (both in terms of balance and turnover) to lending to a fortified object according to a single unified scheme was completed, and only in terms of turnover. At the same time, lending by turnover took the form of lending by the totality of inventories and production costs (within a predetermined target value), to which almost all sectors of the economy were transferred (with some features for each). In modern conditions, some state industrial, transport, construction, agricultural, trade and supply and marketing organizations continue to be credited in this manner.

With regard to new commercial structures, i.e. subjects of other forms of ownership, when issuing loans, commercial banks use other methods of lending, based on existing foreign experience.

Modern lending methods:

1. The essence of the first method is that the issue of granting a loan is decided each time on an individual basis. A loan is issued to meet a certain target need for funds. This method is used when granting loans for specific periods, i.e. term loans;

2. In the second method, loans are provided within the limits in advance established by the bank for the borrower of the credit limit, which is used by him as needed by paying the payment documents presented to him within a certain period.

This form of lending is called opening credit line. An open line of credit accepts for payment at the expense of the loan any settlement and monetary documents provided for by the loan agreement concluded between the client and the bank.

Distinguish between revolving and non-revolving credit lines. In case of opening a non-revolving line of credit after the loan is issued and repaid, the relationship between the bank and the client ends. With a revolving line of credit (revolving), a loan is provided and repaid automatically within the established debt limit. Credit line It can also be target (framework) if it is opened by the bank to the client to pay for a number of deliveries of certain goods under one contract, implemented during the year or another period.

The following stages of lending can be distinguished;

1. consideration of an application for a loan and an interview with a future borrower;

2. studying the creditworthiness of the client and assessing the risk on the loan;

3. preparing the conclusion of a loan agreement;

4. loan support;

5. loan repayment.

To obtain a loan, the client submits and b<шк заявку, где содержатся исходные сведения о требуемой ссуде: цель, размер кредита, вид и сроки ссуды, обеспечение се возврата. К заявке должен быть приложен минимальный набор документов:

1. application for a loan;

2. notarized copies of constituent documents;

3. certificate of registration of the enterprise;

4. notarized bank cards with samples of signatures of the head, chief accountant and seal;

5. balance sheet as of the reporting date, certified by the tax office;

6. Business Plan and/or Feasibility Study of the project;

7. copies of contracts, agreements;

8. loan repayment guarantees.

The documents submitted to the bank are examined by the inspector of the credit department. The borrower is interviewed about the upcoming transaction, sources of repayment of the loan, securing the repayment of the loan, the client's relations with other counterparties and banks. The conversation is of great importance for resolving the issue of a future loan, it allows you to find out many important details of a loan application and draw up a psychological portrait of the borrower, find out the professional preparedness of the company's managers, the realism of its assessments of the position and prospects for the development of the company, Applications related to financing new enterprises that do not have financial reports and other documentation, require study of the business plan and feasibility study of the return

loans. After the initial study of the documents and the conversation, the loan officer must decide whether to continue working with this client, or to refuse him. If the customer's proposals differ from some aspects credit policy bank, the application should be rejected. At the same time, it is necessary to reasonably explain to the client the reasons why the loan cannot be provided.

As a rule, banks declare the cost of consumer loans for the purchase of goods in the amount of 17-33% per annum in rubles and 12-21% in foreign currency. Thus, the loan agreements of Russian Standard Bank provide for a rate of 49% per annum. Ruble loan "First OVK" today will cost 39% per annum, and in Delta Bank - 27%. The terms for granting loans depend on the term for considering a loan application: “fast” money will be “short”. In banks where loan applications are considered not in a few minutes, but let's say in two or three days, loans are much cheaper. These are IBRD (targeted consumer loans), Third Rome, International Industrial Bank (loans for car purchases), Investsberbank, Russian National Commercial Bank and a number of regional banks. In addition to the fee for using the loan, an additional fee for maintaining a loan account is charged. For example, in Russian Standard Bank, such a fee is 1.9% per month, with a ruble loan costing 29% per annum. In Perviy OVK, only 10 rubles are charged monthly for maintaining an account, but

but there are other “over-interest” fees from the client: a fee for opening a bank account and issuing a credit card (150 rubles), a fee for opening a loan account (3% of the loan amount) and a commission for transferring money paid to a store account (3% from the amount of payment, that is, the same loan). In addition, in the "First OVK" interest charged on the loan depends on its size - a loan of up to 100 thousand rubles. issued at the same 29% per annum, and from 100 to 200 thousand - already at 33%.

At present, conditions more attractive to customers than those offered by competitors are offered by Delta-Bank. Through IKEA stores, a loan is issued in 15 - 30 minutes at a rate of 27% per annum and no additional payments are charged. The client receives not a one-time loan, but a full-fledged VISA Electron Instant credit card with an unlimited validity period. The development of electronic customer service allows you to expand the possibilities of buying goods on credit without visiting the bank. The order is made in the form of a questionnaire via the Internet or by phone. After considering the application, the decision indicating the specific parameters of bank lending (volume, term, rate) is communicated to the store representative, who brings it to the client. After the delivery of the goods, the store employee sends photocopies of the passport and other documents to the bank and receives the final decision on granting a loan. The client leaves the seller 15% of the cost of the goods and takes it. After that, he receives a schedule of upcoming loan payments from the bank by mail. In parallel with express lending, another area of retail banking services is beginning to develop - credit cards. The convenience of such a card is that it allows you to use the loan at any convenient time and in any convenient place, without specifically contacting the bank. Credit cards of international systems such as VISA or MasterCard are accepted in millions of outlets around the world. Unlike the debit card already familiar to Russians, when receiving a credit card from a bank, you do not need to deposit money into a card account. All you need to do is pass a small solvency test. On this basis, an individual credit limit will be set for a fixed period of time, typically up to $5,000 per year, and a card will be issued. Interest will be charged only for the actual time and amount of use of the loan. On average, their size is 14 - 30% in rubles and 12 - 22% in foreign currency, plus fees for servicing the card. Account statements are sent to the client on a monthly basis, according to which the state of the debt is monitored. Also, on a monthly basis, the client needs to repay part of the debt - 15 - 25%. After depositing this amount, the bank, having made sure that the client is honest, renews the credit limit, that is, in fact, a new one is issued without visiting the bank.

Mortgage credit lending

The modern state housing policy is focused on solving the housing problems of the main part of the working population, who have average incomes, savings and own housing as a result of free privatization. The main way to solve the housing problem for this part of the population is long-term mortgage lending. The word "mortgage" of Greek origin was first used in the legislation of Solon (7th century BC), where it meant a pillar dug into the land of the debtor. In Russia, the idea of a mortgage dates back more than a hundred years.

The idea of mortgage became most widespread after the reform of 1861, when the freed peasants were endowed with land, which they pledged against a loan for the purchase of seeds and tools. Mortgage was a wooden stake that was driven into the ground to mark the boundaries of the site, which was accepted as security for the loan. In some countries, the state stimulates the desire of its citizens to purchase housing on credit.

According to the Civil Code of the Russian Federation, a mortgage is understood as a pledge of land plots, enterprises, buildings, structures and other real estate. Mortgage is one of the ways to secure obligations, a type of pledge, where the subject

is real estate. A mortgage loan is a loan, obligations, the return of which is secured by a pledge of real estate (mortgage). A pledge of real estate arises on the basis of an agreement by virtue of the Federal Law "On Mortgage (Pledge of Real Estate)", according to which one party - the pledgee, who is a creditor under an obligation secured by a mortgage, has the right to receive satisfaction of his monetary claims against the debtor under this obligation from the cost pledged immovable property of the other party - the mortgagor, predominantly over other creditors of the mortgagor, with exceptions established by federal law.

Conclusion

In the 1980s, changes took place in the credit system of developed countries, which include the rapid development of financial markets, in which funds are mobilized through the issuance of securities. Increasing use of securities as a way of accumulating funds is called "securitization". As part of securitization, part of bank claims is converted into securities. Receiving a state guarantee, these bonds become highly reliable and easily become the object of purchase by investors, which improves the overall conditions for financing the economy.

It must be said that now a special place is occupied by commercial credit, leasing, bonded loans, in which not one, but several persons act as lenders. The issue of securities has become a priority method of financing the economy. Large banks practice the issuance of personal loans, which differ in that they are not tied to a trade transaction, and the system of lending to the population itself is very flexible. An important feature of the modern period is the growing internationalization of the credit systems of developed countries.

The danger of a full-scale collapse of Russia's financial sector has already been ignored today. Unfortunately, now that there is no basis for financial stabilization, the government cannot afford to use those standard macroeconomic levers, the results of which are mainly to increase the money supply, to get out of the depression. Still less able to help persistent appeals to the bankers to finally pay attention to the needs of the domestic economy. Therefore, hopes for the revival of the credit market are associated, first of all, with measures designed to reduce the "background" risk at the micro level - legislative and institutional changes in the functioning environment of both the real and financial sectors of the economy. Among these measures are the adoption of new laws on the bankruptcy of industrial enterprises and financial institutions, deposit insurance, liability of heads of credit institutions; providing reliable state guarantees to investors (both foreign and domestic) who finance the most significant projects from the national economic point of view.

The transitional scheme for lending to enterprises and organizations reflects the contradictions of the transition period, however, it retains one important quality - it is built on the principle of a unified lending scheme. As you know, for many years, Soviet practice professed the need for a significant differentiation of the lending system, depending on the industry feature. The State Bank developed separate instructions for lending to industrial enterprises, collective farms, state farms, trade and supply and marketing organizations. Each of these lending systems contained significant differences from each other.

In the course of the banking reform there was an inflection in the lending system. All enterprises began to be credited according to a uniform scheme. Thus, all enterprises were placed in the same conditions. Thus, it produces, as it were, a natural selection of non-competitive enterprises. In a market economy, the strongest survive, which we can observe today.

Glossary

No. p / p	New concept
1	Bank	A credit institution that has the exclusive right to carry out in aggregate the following banking operations: taking deposits of funds from individuals and legal entities, placing these funds on its own behalf and at its own expense on the terms of repayment, payment, urgency, opening and maintaining bank accounts of individuals and legal entities persons
2	Bank loan	Unlike a commercial loan, it arises between an enterprise, organization, population (borrowers) on the one hand, and a bank (lender) on the other. A bank loan has a strictly targeted and urgent character, aimed at reducing distribution costs through the system of cashless payments, redistributing capital and accelerating its concentration in the most profitable sectors of the economy.
3	Promissory note credit	A special type of bank lending associated with the accounting of bills, i.e. charging interest
4	State loan	A loan in which the state can act both as a lender and as a borrower. The state can issue loans to other countries, enterprises and organizations, regions. The state, placing its bonds and other securities among enterprises, organizations and the population, acts as a borrower in the amount of the issue of government debt obligations.
5	Borrowers	In the loan capital market - individuals and legal entities, as well as states that lack financial resources
6	Pledge	Property or other valuables serving as collateral for the received credit (loan)
7	Mortgage credit lending	The modern state housing policy is focused on solving the housing problems of the main part of the working population, who have average incomes, savings and own housing as a result of free privatization. The main way to solve the housing problem for this part of the population is long-term mortgage lending.
8	commercial loan	The earliest form of credit is provided to the buyer in the form of a commodity in the form of a deferred payment for the goods sold. The purpose of commercial credit is to speed up the movement of goods. As a rule, this loan is issued by a promissory note or by opening an account. Commercial lending arises due to a mismatch between the terms of delivery of goods and cash payments for them. In the course of settlements, receivables-crodo-tors debt arises, as a result of which buyers could use the received material assets before they were paid, or suppliers received money before (prepayment) the shipment of goods or the performance of work. Companies are the parties to the loan.
9	Credit	Derived from the Latin creditum"(loan, debt). At the same time, "kreditum" is translated as "I believe", "I trust." In the broad sense of the word: from a legal, economic point of view - a loan is a transaction, an agreement between legal entities or individuals on a loan, or loan.
10	Credit line	Loans are provided within the credit limit pre-established by the bank for the borrower, which is used by him as needed by paying the payment documents presented to him within a certain period.
11	Credit policy	strategy and tactics of the bank in the field of credit operations. There is no single credit policy for all banks. Each bank forms its own credit policy, taking into account economic, political, organizational and other factors influencing its activities.
12	Credit operations	this is the relationship between the creditor and the debtor (borrower) regarding the provision (receipt) of funds for temporary use, their return and payment.
13	Loan agreement	The main document that fixes the relationship between the lender and the borrower, their relationship with each other as the relationship of two subjects of reproduction. Refers to the type of business contracts.
14	Interbank loan	a loan, the parties to the transaction of which are banks; issued to commercial banks by the Central Bank and to each other.
15	International credit	It arises in the foreign economic turnover of the state and acts in the form of commercial, state and bank loans. In all cases, one of the parties to the credit transaction is a foreign entity - an enterprise or the state.
16	change offices	In antiquity and the Middle Ages, establishments that exchanged coins and traded them
17	Objects of lending	Material values and costs associated with their production
18	consumer credit	It acts in the form of borrowed funds provided by the state, banks and enterprises to the population. These are employee loans. installment sales businesses, mortgages for the purchase and construction of housing, loans for the purchase of automobiles and other similar consumer purposes.
19	Usury	Providing loans at high interest rates
20	Loan capital	The total amount of funds transferred on a return basis for temporary use for a fee in the form of a percentage
21	loan fund	this is a set of funds used (and not used!) to meet the needs of the economy and the population in financial resources on a repayable basis.
22	Subjects of lending	Legal entities or individuals, as well as the government of the country (borrowers), using a loan to finance specific objects

List of sources used

1. On amendments to Article 69 of the Federal Law “On the Central Bank of the Russian Federation (Bank of Russia)” [Text]: Federal Law of December 23, 2003 No. 180-FZ / / Collected Legislation Ros. Federation. - 2003. - No. 52 (1 hour). Art. 5032.

2. On the insolvency (bankruptcy) of credit institutions [Text]: Feder. Law of February 25, 1999 No. 40-FZ (as amended on December 1, 2007) // Collected. legislation Ros. Federation. - 1999. - No. 9. - Art. 1097.

3. Beloglazova, G.N. Banking: organization of the activities of a commercial bank [Text]: textbook / G.N. Beloglazova, L.P. Krolivetska. - M .: Higher education, 2008.

4. Glushkova N.B. G55 Banking: Textbook. - M. - Academic Project; Alma Mater, 2005. - 432 p. - ("Gaudeamus"), ISBN 5-8291-0514-4 (Academic Project) ISBN 5-902766-08-7 (Alma Mater).

5. Kuznetsova, V.V. Banking. Workshop [Text]: textbook. Allowance / V.V. Kuznetsova, O.I. Larina. – M.: KnoRus, 2007.

6. Leontiev V.E., Radkovskaya N.P. Finance, money, credit and banks: Textbook. - St. Petersburg: Knowledge, IVESEP, 2003. - 384 p.

7. Lavrushina O.I. Money , credit, banks: Textbook / Ed. O.I. Lavrushin.- D34 2nd ed., revised. and additional .- M .: Finance and statistics, 2000.- 464 p.: ill.

By types of credit institutions

Glushkova N.B. G55 Banking: Textbook. - M. - Academic Project; Alma Mater, 2005. - 129 p. - ("Gaudeamus"), ISBN 5-8291-0514-4 (Academic Project) ISBN 5-902766-08-7 (Alma Mater)

Glushkova N.B. G55 Banking: Textbook. - M. - Academic Project; Alma Mater, 2005. - 125 p. - ("Gaudeamus"), ISBN 5-8291-0514-4 (Academic Project) ISBN 5-902766-08-7 (Alma Mater)

Glushkova N.B. G55 Banking: Textbook. - M. - Academic Project; Alma Mater, 2005. - 126 p. - ("Gaudeamus"), ISBN 5-8291-0514-4 (Academic Project) ISBN 5-902766-08-7 (Alma Mater)

Leontiev V.E., Radkovskaya N.P. Finance, money, credit and banks: Textbook.- St. Petersburg: Knowledge, IVESEP, 2003.- 321p.

Credit and credit relations in the process of their historical development have gone through several successive stages: the origin, formation and regulation of credit relations.

The first stage is the emergence of credit relations. Credit relations began to emerge at the stage of transition from subsistence to commodity economy. During this period, a special multi-temporal exchange of products appeared, which gradually gave way to its commodity counterpart - multi-temporal commodity exchange. With the advent of money, more complex credit relations arise - the sale of goods with a deferred payment. The discrepancy between the periods of production and circulation of various goods, the seasonal conditions for their production and sale led to the fact that some producers had to buy goods from others even before selling their own goods. Therefore, the buyer became a borrower, and the seller became a lender. This is how the simplest forms of commercial lending appeared.

Usury played a significant role in the origin and development of credit relations and credit. The development of the social division of labor and the emergence of private property during the period of the decomposition of the subsistence economy served as an impetus for significant property differentiation, which ultimately led to the emergence of such a peculiar economic and social phenomenon as usury. Initially, wealthy families that were members of the community provided loans in kind to their poorer relatives - in grain or other products. The conditions for repayment of such loans were quite stringent. Loans were granted on the security of land or even the identity of the borrower (the so-called self-mortgage). Lenders set up special stones on the mortgaged land, on which an inscription containing the name of the creditor, the amount of the debt and the terms of its repayment was knocked out. This is how the simplest form of mortgage appeared - a pledge of land to secure a loan obligation. As a payment for a loan, often a very significant share of the crop was supposed to be returned.

The appearance of money and the subsequent development of monetary exchange were an important factor in strengthening differentiation and became the basis for the transition to the monetary form of usury. According to the Greek historian Plutarch, in ancient Greece in the 7th-6th centuries. BC, all the common people were indebted to the rich, and the debtors often borrowed money on the security of themselves, and for non-payment of debts, many were forced to sell their children into slavery.

In the ancient world, usury was widespread. Already the first Roman codification of law served to strengthen the position of the usurer and consolidated debt slavery. The loan agreement was called bondage in Rome (self-mortgage). In case of delay of the debtor, the creditor, using the permission of the court, “put a hand on the debtor”, which meant his imprisonment in fetters. Lenders were able to control the identity of the borrower and sell him into slavery.

Usury credit in the ancient world took three main forms: first, in the form of cash loans to the slave-owning nobility, mainly landowners, for the purchase of luxury goods; secondly, in the form of granting loans to small producers who own the conditions of their labor, which included primarily peasants, but also artisans; thirdly, in the form of lending to ancient cities and states.

Since in ancient Rome the usurers were often patricians - landowners, and also due to the fact that all the levers of political and military power were in their hands, the spread of usurious operations and the high percentage ensured the replenishment of the slave market. Apparently, the severity of debt law was directly related to the need for the existence of this particular source of slave labor for the patrician land holdings.

Along with the small landowners, the borrower was the slave-owning nobility. She needed money to purchase luxury items, arrange receptions and spectacles, as well as to cover the expenses associated with political activities.

In addition to private individuals, cities and states resorted to the services of usurers, which used the funds received to maintain the army and wage wars. Especially often, cities and states that were politically dependent on Rome resorted to loans, forced to pay him a large tribute.

A characteristic feature of the usurious loan was an extremely high level of interest. The high percentage created a real opportunity for the degradation and ruin of the small producer, up to the loss of his property and even freedom. This undermined the deepest economic foundations of society, and therefore the state itself was forced to take a number of measures to protect small-scale production as the basis of the polis economy. The legislative limitation of the loan interest to a certain minimum, as well as the prohibition of debt slavery, became the most important achievements of the period of antiquity.

Thus, usurious credit had a significant impact on the entire economy and social life of ancient society. It had the following main features: an extremely high rate of interest; the possibility of being enslaved for debts; predominantly monetary form, which contributed to the transition to a commodity economy; lending from own funds.

The widespread use of credit relations led to the emergence of the banking industry. Initially, it arose as an additional occupation of money changers who exchanged coins of various cities and states. Along with trading in money, money changers gradually switched to accepting money for storage (in deposits), transferring it on behalf of clients, and began to engage in lending secured by houses and land. Ancient bankers were rivaled by temples, which accumulated significant sums in the form of donations and deposited deposits. Since it was considered a great sin to rob temples, they were a fairly safe place to store money. These amounts were provided on credit at interest.

In ancient Rome, banking operations appeared at the end of the 3rd century. BC e. With the development of banking, the first non-cash payments appeared. The Romans began to distinguish between payment in cash and payment by bank records.

Maritime trade loans were a special type of lending in the ancient world. The borrowers were merchants who equipped expensive expeditions for goods to distant countries.

Thus, in ancient and ancient societies, the origin of credit relations took place, and various forms of credit appeared. However, in general, the economy was of a subsistence nature, credit operations developed on the basis of usurious credit, which became a deterrent to economic development and did not contribute to the progress of production. The emerging banking industry was also essentially usurious.

The second stage in the historical development of credit relations is their formation. At this stage, there was a further development of commodity lending.

In the Middle Ages, commercial credit was widely practiced throughout Europe. His terms sometimes stretched up to one and a half years. An important moment in the development of commercial lending was the appearance of bills. Already in the XV century. in Italy, the use of the simplest forms of bills of exchange is becoming a daily practice.

Initially, the tools of a commercial loan were: a notarized payment letter; private letter of guarantee; a guarantee that no longer requires a notarization. These documents clearly show that the promissory note owes its origin not only to the debt caused by the deferred payment, but also to money transfer operations. Even in the middle of the XII century. Genoese merchants contributed money to local money changers in exchange for a written obligation to pay the specified amount in the city where they were to purchase goods or pay off their debts.

Gradually bills turned into commercial credit instruments. Merchants began to pay for the purchase of goods with bills of exchange. Periodically, mass mutual payments on bills were made at fairs. In the XIII-XIV centuries. the fair in France, in the province of Champagne, which was held 6 times a year, acquired the greatest importance for settlements, the so-called "bill fairs" appeared here.

Since 1597, in Holland, bills of exchange acquired a completed form and began to be drawn up on standard forms. Here they became the main form of payment, and in the XVII century. the endorsement on their back (endorsement) has become widely practiced. Discounting bills (their accounting) originated in Antwerp in the XVI century. in the form of buying up outstanding bills and became a constant practice from the second half of the 18th century.

At this stage, a more complex form of credit relations arose - credit relations with the participation of an intermediary, the banking industry revived and began to gain strength, gradually developing into a complex type of banking business. The emergence of credit intermediation was the result of resolving contradictions in the development of credit relations themselves. These contradictions, as shown earlier, were determined by an objective discrepancy in the amount of funds released from creditors and the emerging need of borrowers for additional funds, as well as differences between the duration of the release of these funds and the duration of the need for them.

In most European countries in the period from the end of the XVII century. within a century and a half, joint-stock and large emission banks appeared, which meant the elimination of the monopoly position of usury and the creation of national credit systems that met the interests of the development of industry and trade.

The emergence of banks does not reduce the importance of commercial credit as the basis of the credit system. It retains the ability to directly serve the circulation of capital, to serve as an important tool for its acceleration. Bank credit has been developed on its basis and successfully complements it.

The third stage in the historical development of credit is the transition to regulated credit relations. Its main feature is the all-encompassing, total nature of credit relations, which is reflected in the following:

Credit relations mediate all economic processes, penetrate deeply into money circulation, the sphere of exchange, production and consumption, international relationships. As a result, the share of borrowed funds in industry and trade is increasing; public debt is growing; increasing consumer and mortgage credit; the pace of centralization of capital and its intersectoral overflow are increasing;

All economic entities, the population and the state become simultaneously borrowers and creditors. The production and sale of goods, as well as the redistribution of income, is carried out on a credit basis;

Strengthening connection money issue with bank lending. In turn, money becomes a source of credit. Thanks to the development of the banking system, any amount of money almost instantly turns into a loan;

International trade is almost entirely mediated by credit transactions (bank and commercial loans);

With the advent of credit cards, the daily purchase and sale of goods acquires a credit character. Significantly simplified commercial lending to the population in the acquisition of durable goods;

Various specialized credit and financial institutions are being developed: savings banks and banks, savings and loan associations, credit unions, mutual credit societies, mortgage banks and building societies, mortgage banks, etc. They are engaged in lending to certain areas and branches of economic activity, as a rule, dominating relatively narrow sectors of the credit market.

An important characteristic of the current stage in the development of credit relations is the regulation of credit relations by the state and the Central Bank. Central banks are actively using accounting and discount policy tools to regulate the economy. They regulate money circulation, carry out measures to develop the credit and banking sector.

So, in modern conditions, credit relations have acquired exceptional importance for the development of the economy and society as a whole. The total nature of these relations allowed leading economists to draw an important conclusion that the modern economy is becoming credit based on the nature of the processes that dominate the economy. It was the exceptional development of credit relations that seriously transformed the commodity-money economy into a different type of economy, which naturally developed on its basis - the credit economy.

Introduction

Chapter. 1 The concept of credit. Monetary relations.

The concept of credit. Monetary relations.

Reasons for a loan

Chapter. 2 The history of the emergence and development of credit relations.

Their evolution.

2.1 Milestones in Credit Development

2.2 Modern arrangement of the lending structure

Conclusion

Glossary

List of sources used

Annex A

Annex B

Introduction

The topic of my course work: “The causes and history of the emergence and development of credit relations. Their evolution”, I did not describe the development of credit relations on the examples of individual states, but gave general concepts to the stages of their development. The history of the development of credit relations was not so easy and fast. In its historical development, credit passed through several successive stages, each of which was characterized by radical transformations both in terms of its distribution and functions, and direct participants.

It began with money changers and usury and continues in modern banks. In the first chapter, I defined the basic concepts of credit relations and revealed the reasons for the emergence of a loan.

Credit is one of the most important categories of economic science. The works of the classics of Marxism, numerous works of Soviet and foreign economists are devoted to its study. However, this topic is relevant, since credit relations in modern conditions have reached the greatest development. “At present, we are no longer talking about a constant increase in the volume of money capital provided for loans, but also about expanding the subjects of credit relations, as well as the growing diversity of the operations themselves.”

Speaking about this topic, one cannot fail to mention the problems that our economy faces in the transition period to a real market functioning mechanism (banking crisis), which requires more radical transformations in the monetary and credit sphere. At present, there is a need to fully use the economic levers inherent in the credit sector, to develop and implement fundamentally new approaches to managing the country's money circulation.

All these facts indicate that it is necessary to pay great attention to the problem of credit, since the economic condition of the country largely depends on the state of the monetary system. Therefore, it is necessary to take into account the experience gained by developed countries in this area. It is necessary to reform the entire credit system (and not only), aimed at creating credit institutions on a joint-stock basis, developing new forms of credit in our country, such as consumer, commercial, various forms of rent, in particular leasing. This will accelerate the development of our country's economy and make it more efficient.

Chapter. 1 The concept of credit. Monetary relations. 1.1 The concept of credit.Monetary relations.

Credit comes from the Latin creditum"(loan, debt). At the same time, "kreditum" is translated as "I believe", "I trust." In the broad sense of the word: from a legal, economic point of view - a loan is a transaction, an agreement between legal entities or individuals on a loan, or Credit is in many ways a condition and prerequisite for the development of a modern economy and an integral element of economic growth.It is used by both large associations and enterprises, as well as small trade, manufacturing and other enterprises.(Appendix A)

One of the partners (lender, creditor) provides another (borrower, borrower) money (sometimes property) for a certain period with the condition of returning an equivalent value, as a rule, with payment for this service in the form of interest. With a loan, a loan or loan agreement appears (the concepts of loan and loan can be used as synonyms). In modern conditions, all loans are issued in the form of a cash loan, and credit relations are part of all monetary relations. The main thing that distinguishes a monetary loan from all other forms of monetary relations is the return movement of value. In a loan, production relations are expressed when business entities, the state, organizations or individual citizens transfer value to each other on terms of repayment for temporary use. Credit relations mean all monetary relations related to the provision and repayment of loans, the organization of cash settlements, the issuance of cash banknotes, lending to investments, the use of state credit, insurance operations (partially), etc. Money acts as a means of payment wherever there is credit. Even when a borrower receives, for example, a seed loan, it is in the form of a cash loan. Therefore, a loan is a special form of money movement. This is the market category. The market must be served by a special fund of funds (let's call it the company's loan fund), which can be provided by an economic entity on a repayment basis. The form of movement of the loan fund is a loan. Credit serves the movement of capital and the constant movement of exaggerated public funds. Thanks to credit in the economy, the funds released during the operation of enterprises, in the process of implementing the state budget, as well as the savings of individual citizens and the resources of banks, are used productively. How do funds appear that can be used as borrowed resources to meet the needs of commodity producers and the state? Free cash is formed in the course of economic activity of enterprises. Having received proceeds from sold products, the enterprise gradually, in parts, spends it on the purchase of raw materials, fuel, materials, it also uses part of the profit received not immediately, but some time after its receipt. As a result, temporarily free funds are formed on the accounts of enterprises in banks. The temporary release of funds also occurs as a result of the fact that the value of fixed assets is transferred to the goods produced in parts and returned to the enterprises in the form of money. These funds are spent gradually, in connection with which free cash resources are formed in the form of unused depreciation funds. The wages of workers and employees are usually paid twice a month, and the receipt of money for the sold products occurs more often, which also ensures the release of funds for a certain period of time. The receipt of funds in the budget and their expenditure do not always coincide in time, therefore, free balances of funds are formed for a certain period.

When considering the amount of fees for a loan, banks should consider the following factors:

Refinancing rate of the Central Bank of the Russian Federation;

The average interest rate of attraction (the rate of attraction of interbank loans or the rate paid by the bank on deposits of various types);

The structure of credit resources (the higher the share of borrowed funds, the more expensive the loan should be);

Demand for a loan from potential borrowers (the lower the demand, the cheaper the loan);

The term for which the loan is requested, the type of loan, or rather the degree of its risk for the bank, depending on the security;

Loan Forms 1

When lending, various forms of credit are used. In modern conditions, the following forms of credit are known, the degree of development of which is different.

1. commercial loan- the earliest form of credit - is provided to the buyer in the form of a commodity in the form of a deferred payment for the goods sold. The purpose of commercial credit is to speed up the movement of goods. Typically, this loan

issued by a promissory note or by opening an account. Commercial lending arises due to a mismatch between the terms of delivery of goods and cash payments for them. In the process of calculations

there is a receivable-krodi-tor debt, as a result of which buyers could use the received material assets before they were paid, or suppliers received money before (prepayment) the shipment of goods or the performance of work. Companies are the parties to the loan.

2. Bank loan- unlike a commercial loan, it arises between an enterprise, organization, population (borrowers) on the one hand, and a bank

areas of the economy.

State loans are of the following types:

Internal and external; short-term, medium-term and long-term; winning, coupon and interest.

4. consumer credit- acts in the form of borrowed funds provided by the state, banks and enterprises to the population. These are employee loans.

installment sales businesses, mortgages for the purchase and construction of housing, loans for the purchase of automobiles and other similar consumer purposes.

5. Interbank loan- a loan, the parties to the transaction of which are banks; issued to commercial banks by the Central Bank and to each other,

6. Inter-farm loan- with this loan, the subjects of credit relations are various enterprises and organizations that provide funds to each other on a repayment basis. This loan arises in case of temporary financial difficulties, for the implementation of joint programs and projects, in the provision of

financial assistance in other similar cases

7. International credit- arises in the foreign economic turnover of the state and acts in the form of commercial, state and bank loans. In all cases, one of the parties to the credit transaction is a foreign entity - an enterprise or the state.

Finding out the functions of credit is of great practical importance, since this allows you to use it most efficiently. Credit performs the following three main functions:

3. Control - it consists in monitoring the efficiency of economic entities. The operation of this function is manifested in the fact that in the economy that received the loan, comprehensive control is exercised by the ruble. It is on the basis of credit relations that monitoring of the activities of borrowers and creditors is built, the creditworthiness and solvency of enterprises is assessed. credit cooperative system... main cause complicated...

Story occurrence and development joint venture in the world community and in Russia

Abstract >> Economic theory

enjoyment and study stories occurrence and development joint venture in the world... credit turnover. With regard to the entrepreneurial loan, it should be noted that it caused ambiguous attitude... but knowing the reasons occurrence, all of them...

Story occurrence and development bills

Test work >> Financial sciences

European peoples. Relations folded into... if you can figure it out the reasons occurrence this unique legal... 1. Story occurrence and development bills Story appearance and development actually ... the so-called " credit reform that banned...

Electronic money: story occurrence and development

Coursework >> Financial Sciences

The purpose of the work is to trace history occurrence and development electronic money. Determine... outstanding claims for relation to third parties ... the results of the work have become cause conversion of PayCash to ... US dollars, used in credit operations in C - and...

Federal Agency for Education of the Russian Federation

Ural State University named after A.M. Gorky

History department

Department of archiving, documentation

and information and legal support of management.

Department of Documentation and information support management

History of monetary relations in Russia

Specialized Course Program

Yekaterinburg

Compiled by:

Kilin Alexey Pavlovich - Associate Professor of the Department of Documentation and Information Support of Management, Candidate of Historical Sciences

History of monetary relations in Russia. Specialized course program. / Compiled by A.P. Keelin. - Ekaterinburg, Ural State University, 2006. - 21 p.

Reviewer - Candidate of Historical Sciences, Associate Professor Mazur L.N.

The publication contains thematic and curricula, the program of the special course, questions for independent work of students, a list of sources and literature.

The program is intended for students and listeners of the IV course of the full-time and part-time department, studying in the following specialties: “Documentation. Documentation support of management”.

Interdisciplinary connections of the special course with other courses are assumed:

National history

Story public institutions Russia

Auxiliary historical disciplines - numismatics, heraldry

Economy

Management

Marketing

Fundamentals of Financial Law

Story economic doctrines

Ural region: socio-economic development

 Kilin A.P., 2000, 2006

Curriculum for the course

"History of monetary relations in Russia"

Topic	Lectures	Seminars
1. Basic elements financial system and their relationship. Historical approach.
2. Formation and development of monetary relations in Ancient Rus'.
3. Government revenues and expenditures of the Moscow state inXV – XVIcenturies
4. Development of monetary relations inXVIIin.
5. Monetary system of RussiaXVIIIcentury.
6. Monetary relations in Russia in the first halfXIXcentury.
7. Financial and credit relations in the second halfXIX- earlyXXcenturies
8. The financial and credit system of Russia during the First World War.
9. Financial and credit system in the years of NEP.
Total:
TOTAL:

Subject and objectives of the course.

Relevance of the course.

Russia is currently going through a painful process of transformation of the business model. From directive, command-administrative to indirect state regulation of the economy based on the market mechanism.

Economic transformation is combined with a political crisis. The process of disintegration leads to the rupture of pre-existing economic ties.

Focus on active use market mechanism, the development of commodity-money relations, inevitably brings to the fore the questions of the formation of an adequate financial system.

This process has a catch-up character and is therefore focused mainly on Western models. However, historical experience shows that the mechanical transfer of foreign technologies to Russian soil can lead to the opposite results. Careful adaptation to domestic conditions is necessary. This can be of great help domestic experience, the traditions of Russian entrepreneurship, the developments of domestic financial science, which, as you know, in the late XIX - early XX centuries occupied a leading position.

Russia is a huge Eurasian state with specific geographic, natural and human resources. Traditions that have developed over the centuries cannot be discarded; on the contrary, they must be used in solving modern problems.

This is also important in general cultural terms. Without mastering the national tradition, without the continuity of knowledge, fundamental education is impossible, it is impossible to master the financial culture and banking traditions.

The German economist K. Eeberg wrote: “Financial science is a field of knowledge that deserves careful study in part due to the theoretical importance of this doctrine for general education, partly due to its wide application to practice. It is of particular importance to all those who, directly - as an official or member of deliberative and legislative institutions - or indirectly - through their right to vote, through the right of assembly or petition, or through the press - can gain influence on public life". The study of Russian financial literature allows us to conclude that in pre-revolutionary Russia, financial science developed at the world level, and the financial policy of the USSR was built on its recommendations, right up to the financial reform of the 1930s. Professor I.I. Yanzhul considered financial knowledge to be an essential component of education. He wrote: "... more or less familiarity with financial science is everywhere an absolute necessity for every educated person."

Complexity financial education of the modern generation of Russians are due to the fact that the traditions of financial culture were destroyed by the practice of social economy along with financial science, which received the label "bourgeois". The financial reform of 1930-32 cut off Soviet science for a long time from world and pre-revolutionary domestic science. It is impossible to fill the gaps in financial education without knowledge of the historical aspects of the development of world and domestic financial science and practice.

Financial professionalism is a special field of activity, the complexity of which is determined by the specifics of fiscal problems. Minister of Finance of Russia V.N. Kokovtsev (1906-1913) emphasized that “there is no other area that would be less amenable to innovations, like the area financial management and there is no other area in which all kinds of unsuccessful experiments did not show their disastrous influence as quickly as experiments in the field of finance. Let's add - and on scales of negative consequences.

Contrary to the interpretation of economic categories based on class positions, which was cultivated in the "Soviet" period, it is necessary to consider financial and credit relations as objective economic concepts independent of the existing political system. Pay more attention economic history Russia, based on the achievements of modern historical science. Overcome the rigid limits of the formational approach.

Course objective.

Consider the process of origin, formation and development of monetary relations in Russia, analyze the mechanism of formation of their internal structure and interdependence in a historical retrospective. Get an idea of the "roots" state of the art financial and credit system, evaluate it and predict possible development options.

The tasks of reforming the Russian financial system bring us back to the need for theoretical constructions. Columbia University professor E. Seligman wrote in 1908: “The main task of economics is to explain to us what is. If the whole of society, however, is the result of evolution, then we can only understand what is by knowing what was. The study of social trends introduces the question of what should be.

If modernity without history is incomprehensible, then history without modernity is not relevant. Theoretical and applied solution of modern financial problems was the development of the conclusions of science of the past.

course subject.

The process of creating the prerequisites, the origin, formation and development of monetary relations in Russia.

Chronological framework.

From the period of formation of statehood among the Eastern Slavs (IX century) until the first quarter of the XX century. The basis for determining the chronological framework of the course can be the principle of considering the process of functioning of the financial and credit system in a market economy and commodity-money relations. In this regard, it seems justified to include in the framework of this course a relatively short period of the New economic policy when, to a limited extent, these relationships took place. The milestone in the history of domestic finance is the reform of the 1930s.

Course structure.

The structure of the course is determined in accordance with the problem-chronological principle. The stages of formation of the monetary system of Russia are considered on the basis of the generally accepted periodization of national history. We can bring to your attention several options for the historical interpretation of the historical process: religious, linear-stadial (including formational, modernization, liberal) civilizational, etc. Let us note the relative conditionality of this approach, since the process of development of Russia's finances has an internal logic, and the creation of a specialized periodization is the subject of further research. The structure of the course is presented in more detail in the curriculum.

Interdisciplinary connections.

The course "History of financial and credit relations" is studied by students of the 1st year economic specialties as provided for by the curriculum, as well as by students of 3-4 courses of humanitarian specialties as a specialized course. Within the framework of this course, interdisciplinary connections are assumed with the following disciplines: "Patriotic history", " Financial right”, “Economics”, “History of economic doctrines”, “Finance”, “Money, credit, banks”, “Banking”, “History of state institutions of Russia”, “Source studies”, “Applied historical disciplines: numismatics, heraldry”, "Ural region: social and economic development".

Within the framework of the course, seminars are provided, which are aimed at an in-depth study of individual problems, as well as at the implementation of the "feedback" mechanism between the teacher and students. It is planned to work with historical sources, as well as the preparation of abstracts. Topics for essays are proposed in the Study Guide. Here is a list of references for this course. It should be noted that the given literature actually exists in the libraries of the city and, therefore, with a greater degree of probability, is available to gentlemen students. An essay rated by the teacher as "excellent" gives him the right to put a final mark on the results of testing.

Reporting Form- an exam that takes place in several stages. The first stage is testing. The test contains closed questions, two options. Followed by a post-test interview. 1 The teacher discusses with the student all those questions that are incorrectly answered in the test.

If the essay is rated "excellent" by the teacher, the range of issues discussed is sharply narrowed.

The main elements of the financial system and their relationship. Historical approach.

History as a science. Historical time and historical space. The concept of a historical source and their classification. The interpretation of the historical fact is linear-stadial, religious, civilizational. The concept of commodity-money relations and their formation. The role of money, their main functions. The evolution of the monetary system. The concept of credit and its origin. Retrospective analysis of the evolution of the term "finance". Features of income generation and expenditures in Russia.

Formation and development of monetary relations in Ancient Rus'.

Characteristics of the socio-economic development of Russia. Formation of the state and expansion of its functions. Formation tax system and transition to monetary form of taxation. Rus' in the period of feudal fragmentation of the XII - the end of the XIV century. "Russkaya Pravda" as a source on the history of monetary relations of the Old Russian state. Cash account of Russkaya Pravda. Monetary system of Ancient Rus'. “Fur and “metal” theories of money. "Coinless period". Tatar-Mongol invasion and its influence on the process of formation of the country's monetary system.

State revenues and expenditures of the Moscow state inXV – XVIcenturies

Formation of the Russian centralized state. Command system. financial functions orders. The evolution of the taxation system. Sokha. Regional features taxation. Financial reform of the middle of the XVI century. The development of money circulation.

Development of monetary relations inXVIIin.

The rise of absolutism. Centralization of financial management. Specialized financial institutions- their functions. Drawing up a list of income and expenses. The system of taxes, fees and duties. Replacing the land tax with household taxation. Financial thought of the era (B.I. Morozov, Yu. Krizhanich, G. Koshikhin , A.M. Ordyn-Nashchokn). Analysis of their works as historical sources.

Monetary system of RussiaXVIIIcentury.

Petrovsky modernization - its features. The politics of mercantilism. Protectionism. Reforms of administrative-territorial division and governing bodies. Development of the taxation system. Transition to head taxation. Regional features of taxation. The formation of the monetary system. Russian ruble. Banknotes. State loan. Financial thought (I.T. Pososhkov, V.N. Tatishchev, M.D. Chulkov)

Monetary relations of Russia in the first halfXIXcentury.

Socio-economic development. Financial authorities in Russia . Development of the state and bank loan. Monetary system. Taxation system. Formation of the state budget. Financial thought (M.M. Speransky, N.I. Turgenev).

Financial and credit relations in the second halfXIX- earlyXXcenturies

Modernization. Industrial revolution. Financial reforms S.Yu. Witte. Formation of the banking system of Russia. Commercial banks. mortgage lending system. Origin and activity State Bank. Formation and development of the local bank credit system. Activities of the Yekaterinburg office of the State Bank. Financial aspects Role foreign capital and methods of its penetration into the Russian economy. Reforms P.A. Stolypin. Financial Thought in Russia (I.Ya. Gorlov, E.G. Osokin, F.B. Milgauzen, I.I. Yanzhul, S.I. Ilovaisky, I.Kh. Ozerov).

The financial and credit system of Russia during the First World War and the first years after October 1917.

Russia during the First World War. Strengthening state regulation. Problems of formation of a profitable part of the budget. State loan. Monetary system in years civil war. Nationalization of the banking system during the years of war communism. Bolsheviks on the role of commodity-money relations. People's Bank of the RSFSR. Bodies of financial and credit regulation in the first years of Soviet power. Problems of monetary circulation.

Financial and credit system in the years of NEP.

Background of the NEP. Goals and objectives of the new course. Multilayer economy. The formation of the credit system. The role of the State Bank and specialized banks. Local credit institutions. Mutual credit societies, pawnshops. State regulation monetary relations. Monetary reform. The crowding out of the private sector, the winding down of the New Economic Policy, and the credit reform of the 1930s.

Questions for independent work.

Subject and objectives of the course.

The concepts of historical time, historical space and historical fact.

History of the term "finance"

The main sources of state income.

Origin and role of taxes.

The concept, basic conditions and role of credit.

Functions of money.

Characteristics of the socio-economic development of Ancient Rus' in the 9th - 11th centuries.

Formation of the ancient Russian state and expansion of its functions. Reforms of Princess Olga.

The formation of taxes and the transition to the monetary form of taxation in Ancient Rus' in the 9th - 11th centuries.

Tatar-Mongol invasion and its influence on the formation of the monetary system.

Rus' in the period of feudal fragmentation of the XII - the end of the XV century. Main reasons.

Classification government revenue Rus' in the period of feudal fragmentation.

Monetary and credit relations of Rus' based on the materials of "Russkaya Pravda". "Russian Truth" as a historical source.

Money circulation in Ancient Rus'.

"Fur" and "metal" theories of money circulation.

Formation of the Russian centralized state. Command control system.

The main directions of development of the tax system in the XV-XVI centuries.

Characteristics of the land tax system.

Reforms of public finance management in Russia in the second half of the 17th - first quarter of the 18th centuries.

Central financial institutions in Russia in the 17th century.

The system of taxes, fees and duties in Russia in the 17th century.

Characteristics of the system of household taxation in Russia in the second half of the 17th - early 18th centuries

Characteristics of state regalia in Russia in the second half of the 17th - early 18th centuries

Formation and development of state credit in Russia in the 17th - 18th centuries.

Scientific thought in the field of finance in the 17th century.

The work of G. Koshikhin "On Russia in the reign of Alexei Mikhailovich" - as a historical source.

Socio-economic development of Russia in the XVIII century.

The system of taxation in Russia in the XVIII century.

Financial management bodies in Russia in the 18th century

The monetary system of Russia in the XVIII century.

Characteristics of the system of poll taxation in the XVIII century.

Financial thought in the eighteenth century. I. Pososhkov and his "Book of Poverty and Wealth".

Socio-economic development of Russia in the XIX century.

The taxation system in Russia XIX in.

Financial authorities in Russia in the 19th century

The monetary system of Russia in the XIX century.

The development of the state credit system in Russia in the 19th century.

The development of the bank credit system in Russia in the 19th century.

Financial reforms S.Yu. Witte.

The formation of the banking system of Russia in XIX- early 20th century

Commercial banks of Russia in the XIX - early XX century.

The system of mortgage lending in Russia in the 19th - early 20th centuries.

The emergence and activities of the State Bank of Russia in the XIX - early XX century.

Formation and development of the system of local banking credit in Russia in the 19th century.

Activities of the Yekaterinburg office of the State Bank.

Financial thought of Russia in the 19th - early 20th centuries.

The role of foreign capital in the Russian economy in the XIX - early XX century.

-credit politics. INFLUENCE ... , while monetary-credit policy is carried out without relations to monetary mass, it remains important...

Monetary system of Russia bibliographic index
Bibliographic index
... CASH SYSTEM RUSSIA 1.1 Story and reforms monetary systems 1 Amosov A. I. Evolution monetary systems Russia/BUT. I. Amosov //Questions stories ... monetary emissions in Russia within the unified state monetary-credit... and international relations. - 2004 ...
History of economic doctrines (3)
Course program
Rise, multiplication of national wealth Russia. Literature Story economic thought in Russia: Textbook / Under ... Lebanese University. Finance Specialist and monetary-creditrelations. He is the author of two fundamental...
History of the economics of politics and culture Bibliographic index
Bibliographic index
90. 6. Kochevrin Yu. Credit reform of 1930 and its consequences (to stories Soviet monetary systems) / Yu. Kochevrin... politics. - 2012.- No. 1. - S. 66-77. 8. Muravieva L.A. Creditrelations in Russia the first quarter of the 18th century / L. A. Muravyova...
(indicate the body of the credit institution - issuer that approved the quarterly report on securities)
Report
19 2.3.2. Creditstorycredit organization - issuer 20 2.3.3. Commitments credit organizations... tightening monetary-credit policy by the Bank Russia caused more... . 30 Indicated in relationcredit issuing organization...

Credit relations are an integral part of commodity-money relations. Literally credit means " confidence", from the Latin credite , What means " believe».

The loan of money was widely used in ancient Greece and ancient Rome. The so-called money changers were engaged in the exchange of gold and silver money of various denominations. This service was provided to people in need of money. In the Middle Ages, exchange offices began to appear on the basis of the money change business, which later turned into banks ( bank - this is the bench on which the money changers sat).

Initially, both offices and banks were engaged in the exchange of money, but the gradual accumulation of excess funds in banks allowed them to use money quite widely in credit and commercial transactions, issuing loans for various periods at interest.

However, the formation of credit relations, characteristic of the modern period, refers to capitalist production.

Credit as an economic category is a certain type of social relations associated with the movement of value on the terms urgency, repayment and payment. Credit is built on transactions in which one person ( creditor ) provides an item, having value, to another person ( borrower ), in exchange for a promise to pay in the future.

Economic content of credit relations

At the same time, "Credit" comes from the Latin "kreditum" (loan, debt). In the broad sense of the word, both from a legal and economic point of view, a loan is a transaction, an agreement between legal entities or individuals on a loan or a loan.

Credit relations function in the system of economic relations. They are based on movement special kind capital - loan capital.

Credit relations are a separate part of economic relations associated with the provision of value (funds) for a loan and its return along with a certain percentage.

With a loan, a loan or loan agreement appears (the concepts of loan and loan can be used as synonyms). Credit relations combine two subsystems:

· Credit and monetary relations;

· Credit and commodity relations.

In modern conditions, all loans are issued in the form of a cash loan, and credit relations are part of all monetary relations. The main thing that distinguishes a monetary loan from all other forms of monetary relations is return movement of value. In a loan, production relations are expressed when business entities, the state, organizations or individual citizens transfer value to each other on terms of repayment for temporary use. Credit relations mean all monetary relations related to the provision and repayment of loans, the organization of cash settlements, the issuance of cash banknotes, lending to investments, the use of state credit, insurance operations (partially), etc. Money acts as a means of payment wherever there is credit. Even when a borrower receives, for example, a seed loan, it is in the form of a cash loan. Therefore, a loan is a special form of money movement. This is the market category. The market must be served by a special fund of funds (let's call it the company's loan fund), which can be provided by an economic entity on a repayment basis. The form of movement of the loan fund is a loan. Credit serves the movement of capital and the constant movement of exaggerated public funds. Thanks to credit, the economy uses productively the funds released during the operation of enterprises, in the process of implementing the state budget, as well as the savings of individual citizens and the resources of banks.

How do funds appear that can be used as borrowed resources to meet the needs of commodity producers and the state? Free cash is formed in the course of economic activity of enterprises. Having received the proceeds from the sold products, the enterprise gradually, in parts, spends it on the purchase of raw materials, fuel, materials, it also uses part of the profit received not immediately, but some time after its receipt. As a result, temporarily free funds are formed on the accounts of enterprises in banks.

The temporary release of funds also occurs as a result of the fact that the value of fixed assets is transferred to the goods produced in parts and returned to the enterprises in the form of money. These funds are spent gradually, in connection with which free cash resources are formed in the form of unused depreciation funds. The wages of workers and employees are usually paid twice a month, and the receipt of money for the sold products occurs more often, which also ensures the release of funds for a certain period of time. The receipt of funds in the budget and their expenditure do not always coincide in time, therefore, free balances of funds are formed for a certain period. Monetary savings arise from the population in connection with the excess of income over current expenses. Keeping funds in accounts, the population transfers them for temporary use to banks, which use these funds as resources for lending. The need for funds in all cells of society fluctuates. Economic entities usually have an amount of equity capital in circulation, and in periods when the need for funds exceeds the minimum, it can be satisfied by obtaining borrowed funds. Thus, temporarily free funds do not remain unused, but are involved in a useful economic turnover, which accelerates the rate of reproduction and contributes to the most rational use of all funds. Loan funds are used for capital investments- reproduction of fixed assets in cases where an industry or an enterprise needs to incur costs before the actual accumulation of resources (depreciation, profits). With the growth of the economy and the development of the economy, the amount of credit resources also increases. Thus, the composition of resources for lending (loan fund) includes cash reserves of enterprises and organizations released in the process of capital circulation, cash reserves acting in the form of special funds. As well as the depreciation fund used for capital investments, the state cash reserve, consisting of the sums of the current monetary resources of the budget, the fund of funds specially allocated for the development of credit relations ( e.g. for long-term investment lending), cash savings of the population, accumulated by banks, the issue of banknotes, carried out in accordance with the needs of the growth of cash circulation. Credit is a means of intersectoral and interregional redistribution of monetary capital. Credit relations are due to the continuous circulation of funds in the economy and allow the effective use of all funds of funds for the needs of production, trade and consumption.

The objective need for a loan is due to the peculiarities of the circulation of capital, which are: the constant formation of cash reserves and the emergence of temporary additional needs for them; different duration of the turnover of funds in individual cells of the economy, close interweaving of cash and non-cash turnover of funds; isolation of capital within economic entities. The objectivity of the existence, formation and use of the loan fund and the specific form of its movement of credit is caused by the need:

· overcoming the contradictions between the constant formation of monetary reserves deposited in the process of turnover by enterprises of different forms of ownership, budget and population, and their full use for the needs of reproduction;

· ensuring a continuous process of circulation of capital in the conditions of functioning of numerous industries and enterprises with different duration of circulation of funds (from one day to several years);

· organizing the functioning of the means of circulation and payments based on the credit nature of the issuance of banknotes and non-cash funds;

· commercial enterprise management organization.

In the process of capital circulation, free resources released in some economic units can be used in others. The fact is that different industries and enterprises have different times for the production and sale of products. When products from one manufacturer are ready, the buyer may not have enough funds to purchase them. Such a different rate of turnover of funds for various, closely related economic organizations, requires the attraction of loans to ensure an uninterrupted process of production and sale of products.

The objective need for a loan is also due to commercial organization management of enterprises in market conditions, when in each enterprise, in the process of continuous circulation of individual capital, there is a need for additional amounts or, conversely, monetary resources are temporarily released. With the help of the credit mechanism, these fluctuations are flexibly regulated and enterprises receive the funds they need for normal operation. The role of credit is especially great in organizing the working capital of enterprises with seasonal conditions of supply, production or sale. They need credit to build temporary reserves. But non-seasonal businesses also need loans. For any enterprise, working capital and circulation funds either decrease or increase, while the proportions between the capital in commodity, productive and in monetary forms. This circumstance is explained by the fact that production stocks constantly fluctuates depending on the timing of the receipt of raw materials and materials. The amount of balances of finished products and the funds required by the enterprise also depends on the terms of delivery, the timing of receiving payments from buyers and paying supplier bills, the timing of payment of wages, etc. Therefore, despite the uniform process of production, enterprises of non-seasonal branches of the economy in the process of circulation of funds constantly form short-term deviations from the established average values. The objective process of ebb and flow of funds from individual enterprises requires a certain flexibility of the entire system of capital organization.

The role of credit is also great in investments, in the reproduction of fixed assets. The anticipation property of a loan ( ability to anticipate future earnings ) ensures the implementation of capital investments even before the economic entity accumulates profit and depreciation for investments. The combination of equity capital with borrowed capital makes it possible to quickly respond to the progress of technology, to quickly implement the costs of introducing the latest scientific achievements. Speaking about the importance of credit in the development of economic relations between industries and regions, in increasing the efficiency of production, it is necessary to show its role in the creation and use of income and profits.