The structure of the money supply in circulation. Monetary system of the Russian Federation Procedure for securing banknotes

2. The procedure for securing banknotes operates in countries in accordance with the established law.

3. Emission mechanism - a legally established procedure for issuing banknotes into circulation. Emission operations (on the issue and; withdrawal of money from circulation) are carried out by the Central Bank of the Russian Federation, which enjoys the monopoly right to issue banknotes, which constitute the overwhelming majority of cash. Acts on the basis of federal laws "On the Central Bank of the Russian Federation (Bank of Russia)" dated 26.04.1995 and "On banks and banking"Dated 03.02.96, with subsequent amendments and additions.

4. The structure of the money supply in circulation is the ratio of cash and non-cash money, as well as the ratio of banknotes of different denominations in the total money turnover. Banknotes in denominations - 10, 50, 100, 500, 1000 and 5000 rubles, coins - 1, 5, 10, 50 kopecks.

5. Procedure for establishing exchange rate or currency quotes, i.e. the ratio of the country's currency to foreign currencies... Implemented by the Central Bank of the Russian Federation.

Topic 3. Evolution of monetary systems and state monetary policy.

1. The reason for the abolition of the gold standard in all countries since the end of the 70s (after the IMF Conference in Jamaica) is the unleashing of uncontrollable inflationary processes under the conditions of the gold standard.

2. It is known that gold bars were replaced by coins. I think that issuing gold coins is more profitable than selling bullion because they are much easier to implement, because they have less weight and therefore more people can purchase them.

3. If money for transactions makes an average of 5 revolutions per year, then the amount of money required to service the exchange for which the demand is presented is 5 times more than the nominal volume of GNP.

Topic 4. Finance: general concept and main functions. Financial policy.

1. On what functions of money are the following functions of finance based - distributive and control?

The distribution function of finance is based on the following functions of money - as a measure of value, as a means of accumulation and savings, of world money.

Control - as a means of circulation, as a means of payment.

2. What kind (separately or in interrelation) do the distribution and control functions of finance operate?

These functions act in interconnection with each other, for example, the control function is manifested before the onset of the distribution process, when programs, forecasts, and budgets are drawn up. The control function is manifested in the process of using funds of funds, in the execution of planned programs, plans, estimates, and the distribution function is manifested in the formation of these funds.

3. Does the rapid development of commercial banking in the Russian Federation lead to a change in the function of finance?

In these conditions, the functions of finance will be even more important. For example, the control function plays an important role in credit and banking control, when using the principles of lending and cash settlements. The development of commercial banks has a positive effect on the financial sphere in the form that the more banks the more competition, which means that the population will be offered a lot profitable systems investment, which in turn leads to an increase in investment in the country. However, there is also a negative moment, the fact is that then it will be necessary to strengthen, tighten and expand control over these banks in the sphere of money circulation.

Topic 5. Financial system: a combination of paid and uncompensated cash flows and the formation of finances of economic entities.

1. What are the features of the control carried out by financial authorities and tax inspectorates?

Such control is part of financial activities state and such activity is special due to the fact that it is carried out on behalf of the state represented by the relevant authorities (the Ministry of Finance of the Russian Federation, the Federal Treasury, the Accounts Chamber, the Federal tax service, Bank of Russia, etc.).

Moreover, such control is important because it is carried out for monetary funds states at different levels: at the federal, regional and local levels.

It is carried out in the implementation of the planned programs, plans and estimates, namely the budget of the Russian Federation, the budgets of the constituent entities of the Russian Federation, the budgets of municipalities and estimates budget enterprises, institutions, organizations.

Since the largest mass of budget revenues at any level is tax revenues, then the role of control carried out by tax inspections is obvious. How productive this control will be, how much the revenue side of the budget will be executed, and subsequently - how much financing of all expenditure parts of the budget will be made. All this ultimately affects the standard of living in the country of the population, economic development countries, etc.

2. What are the features of the audit form of financial control? Which bodies are implementing it?

Audit control is carried out in accordance with the Federal Law of August 7, 2001 No. 119-FZ "On Audit Debt", in accordance with which audit is an entrepreneurial activity for independent verification accounting and financial (accounting) statements of organizations and individual entrepreneurs.

The purpose of the audit is to express an opinion on the reliability of the financial (accounting) statements of the audited entities and the compliance of the accounting procedure with the legislation of the Russian Federation. Reliability refers to the degree of accuracy of financial (accounting) reporting data, which allows the user of these reports, based on its data, to draw correct conclusions about the results economic activity, financial and property status of the audited entities and make decisions based on these conclusions.

Auditing activities are carried out along with financial control carried out in accordance with the legislation of the Russian Federation by a specially authorized state body. Auditors who have passed certification and who want to work independently, as well as audit firms, begin their activities after state registration as a subject entrepreneurial activity, obtaining a license and inclusion in the state register of auditors and audit firms.

In accordance with the Decree of the Government of the Russian Federation of March 29, 2002 No. 190 "On Licensing Auditing Activities", it is carried out by the Ministry of Finance of the Russian Federation (licensing body). The license is issued for a period of five years, subject to a number of established requirements:

Availability of an auditor's qualification certificate,

Carrying out entrepreneurial activity only in the form of audit and provision of audit-related services,

Ensuring the safety of information constituting an audit secret and other conditions.

The Ministry of Finance of the Russian Federation, in order to ensure that the licensees comply with the above licensing requirements, is checking their activities. The period of this inspection should not exceed 45 days. The licensing authority is not entitled to conduct more than one audit of an audit organization (individual auditor) within one calendar year on the same issues, except for cases when the audit is carried out in connection with requests and complaints from customers of audit services and (or) law enforcement agencies. In case of revealing violations by the licensee of the licensing requirements and conditions, the licensing authority is obliged to send a warning to the licensee within a month after the end of the inspection, indicating the identified violations and the deadlines for elimination.

Audit is divided into: mandatory and proactive.

A mandatory audit is carried out in cases directly established by the legislative acts of the Russian Federation (Article 7 of the Law on Auditing), an initiative audit is carried out by a decision of an economic entity.

A statutory audit is an annual statutory audit of the accounting and financial (accounting) statements of an organization or an individual entrepreneur.

Mandatory audit is carried out in cases where:

1.the organization has an organizational and legal form of open joint stock company;

2.the organization is a credit institution, an insurance organization or a mutual insurance society, a commodity or stock exchange, investment fund, state extrabudgetary fund, a fund, the source of which is the voluntary contributions of individuals and legal entities;

3.the amount of revenue of an organization or an individual entrepreneur from the sale of products (performance of work, provision of services) for one year is 500 thousand times higher established by law minimum size wages or the amount of assets on the balance sheet is 200 thousand times higher at the end of the reporting year, the specified standard;

4.the organization is state-owned unitary enterprise, a municipal unitary enterprise based on the right of economic management, if its indicators correspond to the norms indicated earlier;

5. statutory audit in relation to these organizations or individual entrepreneurs is provided for by the relevant federal law.

Duration of the audit is determined by agreement with the auditor, but, as a rule, is no more than 2 months.

The audit ends with the preparation of an official document - audit report, drawn up in accordance with federal rules (standards) of auditing and containing the opinion of the audit firm (auditor) on the reliability of the financial (accounting) statements of the audited entity and the compliance of its accounting procedure with the legislation of the Russian Federation.

The quality of the audit report can be checked by the body that issued the license to carry out auditing activities, at the request of the economic entity, according to own initiative or the proposal of the prosecutor. If an unqualified audit is found that has led to losses for the state or for an economic entity, they can be recovered from the auditor (audit firm) on the basis of a court decision or an arbitration court at the suit of the authority that issued the license.

A deliberately false auditor's report drawn up entails liability in the form of revoking the license to carry out auditing activities, and for the person who signed such an opinion, also annulling the auditor's qualification certificate and bringing him to criminal liability in accordance with the legislation of the Russian Federation.

In a market economy, which is based on commodity-money relations, money plays an exceptional role. They are often called the language of the market, since they are used to circulate goods and resources. Therefore, the market is impossible without money, without money circulation.

Money turnover Is the continuous movement of money, their functioning as a medium of exchange or means of payment. It serves the sale of goods, as well as the movement of the loan (in the form money capital) and fictitious (in the form of securities) capital.

The monetary system is a historically established and statutory form of organization of monetary circulation in the state. The banking system contributes to its formation and functioning. The national monetary system is an integral attribute of the economy of any civilized state.

MAIN ELEMENTS OF THE MONETARY SYSTEM

The legislation of each country determines the structure of the monetary system, which includes the following elements:
- the name of the monetary unit and its parts;
- the scale of prices;
- types of banknotes that have legal payment force;
- the structure of the money supply;
- emission mechanism;
- types and procedures for securing banknotes;
- the structure of money turnover, regulation of non-cash money turnover and cash circulation;
- the procedure for establishing the exchange rate;
- government agency regulating monetary circulation.

Monetary unit - a statutory currency used to measure and express the prices of all goods and services. The name of the national monetary unit, as a rule, arises historically, but the state must fix it by its legislative act. Monetary units are, for example, in the United States - the dollar, in Japan - the yen, in a number of European countries - the euro, in China - the yuan, in Russia - the ruble, etc.

The scale of prices is a means of expressing value in monetary units, based on the weight quantity of a monetary (precious) metal in a monetary unit. Now the scale of prices is formed under the influence of supply and demand.

Types of money are denominations of banknotes and coins that are in circulation and are legal tender. First of all, these are credit money (banknotes), small change, as well as paper money (treasury notes).

The structure of the money supply is considered either as the ratio between cash and non-cash money supply, or as the purchase structure of the money supply.

The emission mechanism includes the procedure for issuing and withdrawing money from circulation, issuing money and securing banknotes issued into circulation. The issuance of banknotes is carried out by the central bank in three ways:
- providing loans to credit institutions in the form of rediscounting of commercial bills;
- lending to the treasury against the security of government securities;
- issuing banknotes by exchanging them for foreign currency.

Banks provide security for banknotes issued into circulation at the expense of those in their assets following means: inventory items, precious metals, freely convertible currency, securities and other liabilities.

The structure of money turnover as an element of the monetary system can be considered, first of all, as the ratio of cash money circulation and non-cash money turnover. The state legislatively determines the procedure for cash and non-cash monetary circulation.

The exchange rate is determined based on the quotation. Quotation - determination and establishment of the exchange rate of a foreign currency to the national one. It allows you to determine the ratio of two currencies offered for exchange. This ratio cannot be constant, since supply and demand are constantly changing in the foreign exchange market. Quotations are carried out by central (national) banks and the largest commercial banks.

The state apparatus that regulates monetary circulation means the state body that is legally mandated to monitor and regulate the processes of issue, provision, storage and withdrawal from circulation of banknotes.

MONETARY SYSTEM TYPE

The type of monetary system depends on the form of functioning of money - full-value money or signs of value. In the process of evolution of forms of money and monetary relations, two types of monetary systems were formed:
- metal circulation systems;
- systems of circulation of banknotes.
Systems of metallic money circulation, in turn, are divided into bimetallic and monometallic systems.

Bimetallism is a monetary system in which the role of a universal equivalent is assigned to two precious metals - gold and silver. This system is characterized by the free minting of coins from both metals and their unlimited circulation. The ratio between gold and silver coins is set depending on the market price of precious metals. This system existed in the XIV-XVII centuries. There are three types of it:
- parallel currency system - the ratio between gold and silver coins was established spontaneously;
- the system of double currency - the state fixed the ratio between metals, and the minting of gold and silver coins and their acceptance by the population were carried out according to this ratio;
- “lame” currency system - gold and silver coins were legal tender, but not on equal terms. Silver served as a substitute for gold coins in circulation, and was also used as a bargaining chip.

However, the bimetallic monetary system did not meet the needs of a developed capitalist economy, since the use of two metals simultaneously, gold and silver, as a measure of value, contradicts the nature of this function of money. Only one commodity can serve as a universal measure of value. In addition, the government-established firm value ratio between gold and silver did not match their market value... As a result of the cheapening of silver production at the end of the 19th century and its depreciation, gold coins began to go out of circulation as a treasure.

The development of capitalism required stable money, a single universal equivalent, so bimetallism is giving way to monometallism. Monometallism is a monetary system in which one money metal is universal equivalent and the basis of monetary circulation. Along with metallic money, there are other value signs in circulation (banknotes, treasury bills, small change), which can be exchanged for money metal. Silver and gold monometallism are known in history.

Silver monometallism existed in Russia in 1843-1852, in India in 1852-1893, in Holland in 1847-1875. In tsarist Russia, the system of silver monometallism was introduced as a result monetary reform 1839 - 1843. The monetary unit was the silver ruble with a content of 4 spools and 21 shares of pure silver. Banknotes of credit were also issued, circulating on a par with a silver coin and freely exchanging for silver. However, this reform in the conditions of decaying serfdom with a deficit state budget and foreign trade balance could not significantly streamline money circulation for a long period.

The introduction of the system of gold monometallism is due to the formation and development of a single world market, since the strengthening of foreign economic relations required stability from the national currencies serving them. One of the direct prerequisites for the introduction of the gold standard by the states was the accumulation of gold reserves. Gold monometallism, or gold standard, existed in the form of gold coin, gold bullion and gold exchange standards.

Under the gold coin standard, gold performs all the functions of money, both gold coins and gold signs are in circulation; free minting of gold coins with a fixed gold content is performed; gold coins are freely exchanged for gold signs at face value. With the outbreak of the First World War, the gold coin standard ceased to exist in most countries.

Under the gold bullion standard, banknotes were exchanged only for gold bullion (not gold coins), and with certain restrictions. Namely, they sold standard gold bars weighing about 12 kg, so they could only be purchased by relatively wealthy holders of funds. This prevented the dispersal of the gold reserve among small owners. Thus, gold was gradually pushed into wholesale circulation.

A feature of the gold exchange standard was that banknotes are exchanged for mottos, i.e. for foreign currency exchangeable for gold. Important role The gold exchange standard consisted in the fact that it consolidated the currency dependence of some countries on others, which was the basis for the subsequent creation of a system of international currency treaties and currency regulation systems that ensure the relative stability of freely convertible currencies.

The gold bullion and gold exchange standards were formalized by interstate agreements reached at the international economic conference in Genoa in 1922. This conference determined the status of the reserve currency (reserve motto). The pound sterling and the dollar were recognized as reserve currencies during this period.

As a result of the global economic crisis 1929-1933, the gold standard was abolished in all countries. There was a refusal on domestic markets from all forms of payments in gold, the relationship between the volume of gold reserves of banks and the amount of money issue has been lost. After the collapse of the British Empire, the role of the reserve currency was assigned to the dollar.

In 1944, the charter of the International Monetary Fund was approved and a fixed price for gold was set at $ 35 per troy ounce (31.1 grams). Thus, the gold-dollar standard was established.

Due to the reduction of gold reserves, the US government officially stopped selling gold bullion for dollars in 1971, and the gold dollar standard ceased to exist. The last stage in the rupture of monetary systems and gold was the abolition of fixed gold parities of currencies and the transition to floating exchange rates. The Jamaican International Conference, whose agreements were introduced in 1976-1978, legally enshrined the demonetization of gold, which found expression in the following:
- the official (fixed) price of gold has been canceled;
- abolished the gold content of the monetary units of the countries; - gold is excluded from settlements between the International Monetary Fund and its members.

Since the 30s of the twentieth century, a system of circulation of nominal banknotes has been formed in Western countries, in which the monetary product functions not in monetary form, but in the form of paper money circulation and purely banknote circulation. In modern monetary systems, banknotes retain their credit nature, but are subject to the laws of paper money circulation.

Monetary systems based on the circulation of non-exchangeable paper money, currently exist in the vast majority of countries. Obvious advantages such systems, associated primarily with the convenience and economy of circulating money, contributed to their widespread distribution.

The main features of the monetary system characteristic of market economy are:
- decentralization of money turnover between different banks;
- division of the function of issuing non-cash and cash banknotes between different links banking system... The issuance of cash is carried out by central banks, the issuance of non-cash money is carried out by commercial banks, which are in different forms of ownership;
- creation and development of the mechanism of state monetary regulation, which is of an economic nature;
- centralized management of the monetary system through the apparatus of the central bank.

Features of the functioning of paper-credit monetary systems

Banknotes in paper-credit (fiduciary) monetary systems are not representatives of social material wealth. Such monetary systems were formed as a result of the demonetization of gold. There are three types of fiduciary monetary systems:
- transitional (combine metal and paper handling);
- complete fiduciary standard;
- electronic money systems.

Currently, most countries are transitioning to electronic money systems. Characteristics such systems are as follows:
- issue of money is ok bank lending economic entities and for the growth of official gold and foreign exchange reserves;
- development of non-cash money circulation and reduction of cash;
- monopolization of the issue of cash by the state represented by the bank of issue;
- the prevailing development in the system of non-cash money circulation of electronic money payments;
- on the basis of "network money" (software-based / network-based systems) - the monetary value is stored in the memory of computers, and with the help of special software it is transferred via electronic communication networks (electronic payment systems of issuing banks, payments on the Internet) ;
- increasing role state regulation monetary circulation.

Features of the modern Russian monetary system

The monetary system of Russia is in constant development, reflecting modern economic and political realities. Its peculiarity is the rigid centralism of the management of this system. The main elements of the Russian monetary system:
1. National currency - the ruble and its component- kopeck (1 ruble = 100 kopecks).
2. Types of money in circulation - bank notes (banknotes) and small change (such a structure has been formed since 1991, when treasury notes were withdrawn from circulation).
3. The national emission system of Russia is the monopoly right of the Bank of Russia to issue money into circulation, which is currently enshrined in the Federal Law Russian Federation"O The central bank Russian Federation (Bank of Russia) ". Banknotes of the Bank of Russia issued into circulation are secured by a set of obligations to the Bank of Russia itself.
4. The national apparatus that supports and regulates money circulation is the monopoly of the Central Bank on all issues related to the issue of money and the organization of their circulation on the territory of Russia.

The monetary system and money circulation function in accordance with the Law on the Central Bank of 12.04.1995, which determined their legal basis. The monetary unit of the Russian Federation (currency) is the ruble. The law prohibits the introduction of other units of money, and also does not require the ratio between rubles and gold. The ruble exchange rate against the currencies of developed countries is established by the Central Bank of the Russian Federation and is officially published. This is necessary to maintain normal conditions for the economic activity of the country. The types of money that are valid in the Russian Federation are banknotes and metal coins. They are backed by the assets of the Central Bank, which include gold reserves, securities, and reserves of credit institutions. In the Russian Federation, cash (both coins and banknotes) and non-cash money (funds in the accounts of credit institutions) are in circulation. Since the ruble is not tied to gold, there is no fixed price scale in the RF. The state officially sets the price scale for the ruble. To regulate the economy with the help of monetary policy, the Central Bank uses the following instruments: discount policy(discount rate), reserve rates of credit institutions, open market operations, regulation of standards for credit institutions, etc. The Central Bank approves samples of banknotes. New money is issued on the basis of an emission permit issued by the Board of the Central Bank within the amount established by the Government of the Russian Federation. The release of new money is reported in the media.

The modern monetary system of Russia, like most other countries, is based on money that cannot be exchanged for gold. The main provisions of the monetary system of the Russian Federation are defined in the Federal Law of July 10, 2002 No. 86-FZ "On the Central Bank of the Russian Federation (Bank of Russia)" (as amended on January 10, 2003).

The name of the monetary unit. According to this Law the official monetary unit (national currency) of the Russian Federation is the ruble, which is equal to 100 kopecks. In Russia, in the period from 1922 to 1947, there were two names for the monetary unit: "ruble" and "chervonets". After . and up to the present time, a single name for the monetary unit - "ruble" has been preserved in Russia, which was enshrined in the Law "On the Monetary System of the Russian Federation" adopted by the country's parliament and in the subsequent Law "On the Central Bank of the Russian Federation".

The law prohibits the issue of other monetary units and monetary surrogates, emphasizes the responsibility of persons who violate the unity of monetary circulation. There is no official relationship between the ruble and gold or other precious metals. The exclusive right to issue cash, organize circulation and withdraw it from circulation on the territory of the Russian Federation belongs to the Central Bank of the Russian Federation.

The types of money that have legal payment force are bank notes () and metal coins, the samples of which are approved by the Bank of Russia. Banknotes and metal coins are unconditional obligations of the Central Bank and are secured by its assets. They are obligatory to be accepted at their face value throughout the territory of the Russian Federation for all types of payments, as well as for crediting to accounts, deposits, deposits and for transfers.

The law divided the powers of the Government of the Russian Federation and the Central Bank of the Russian Federation in the field of manufacturing banknotes. The Central Bank of the Russian Federation is only responsible for planning the volumes of their production.

In order to organize cash circulation, the following functions are assigned to it:

• forecasting and organizing the production of banknotes and metal coins;
• creation of reserve funds for banknotes and coins;
• determination of the rules for storage, transportation and collection of cash;
• establishment of signs of payment of banknotes and the procedure for replacing and destroying banknotes;
• approval of rules of conduct cash transactions for credit institutions.

In 2002, the Bank of Russia put into effect the Regulation “On the Procedure for Conducting Cash Transactions in Credit Institutions on the Territory of the Russian Federation” No. 119-P dated October 9, 2002 (as amended on June 1, 2004).

The procedure for securing banknotes. State legislation (federal laws "On the Central Bank of the Russian Federation", "On banks and banking activities") establishes what can serve as security for banknotes (commodity and material values, gold and precious metals, freely convertible currency, securities, insurance policies, guarantees of the Government of the Russian Federation. banks and other organizations, etc.). The use of other types of collateral or violation of the basic rules of collateral should not be allowed.

Emission mechanism represents the procedure for the release of money into circulation and their withdrawal from circulation. Non-cash money is issued by commercial banks in the course of their lending operations. When repaying loans, money is withdrawn from circulation. Cash is issued by the cash settlement centers of the Central Bank of the Russian Federation. Withdrawal of cash takes place upon delivery cash commercial banks to cash settlement centers.

The structure of the money supply in circulation is considered in two ways. This is either the ratio between cash and non-cash money supply, or the ratio between banknotes of different denominations in the entire volume of the money supply.

The procedure for predictive planning of cash flow includes a system of forecast plans for money turnover; the bodies making these plans; a set of indicators determined using these plans; tasks solved by each plan.

Monetary regulation mechanism is a set of instruments of monetary regulation (methods); the rights and obligations of monetary authorities; tasks and objects of monetary regulation.

The procedure for setting the exchange rate, or the quotation of currencies, represents the ratio of the currency of a given country to the value of currencies of other countries, for example, $ 1 = 36.7 rubles. Before perestroika, the procedure for establishing the exchange rate was used in Russia, proceeding from the gold content of various currencies. However, since the gold content of the monetary unit is not currently recorded in one country, a quotation method is used that takes into account fluctuations purchasing power national currencies, as well as the demand and supply of a particular currency for foreign exchange markets... The most popular quotation method is based on a “basket of currencies”, in which the national currency is compared with a number of other national currencies included in the “basket”.

The order of cash discipline in the economy reflects a set of general rules, forms of primary cash documents, reporting forms that should be guided by enterprises and organizations of all forms of ownership when organizing cash flow passing through their cash desks. Control over compliance with this procedure is entrusted to commercial banks that carry out cash service farms.

Modern monetary systems are not static. They continue to evolve to become more economical and efficient. A general trend for monetary systems different countries is the expansion of the use of modern computer electronics in the organization of monetary circulation. More and more widely used "", which are not records on paper media, but records in the form of electronic signals, primarily on magnetic or other media. This allows you to significantly increase the share of non-cash turnover in the total money turnover, speed up settlements, ensure better control of banks and tax authorities per money turnover, to achieve significant savings in distribution costs.

Modern monetary system of the Russian Federation

The monetary system of the Russian Federation is based on non-exchangeable money for gold, i.e. has a paper-credit character. The legal basis of the Russian monetary system is Federal Law No. 86-FZ of July 10, 2002 “On the Central Bank of the Russian Federation (Bank of Russia)”. The official currency is the ruble divided into 100 kopecks. The monopoly right to issue and withdraw cash from circulation belongs to the Bank of Russia. In the field of organizing monetary circulation, the Central Bank of the Russian Federation performs a number of important functions:

• predicts and organizes the production, transportation and storage of banknotes and coins, creates reserve funds of banknotes and coins;
• establishes the rules for storage, transportation and collection of cash;
• determines the rules for conducting cash transactions (cash transactions) for credit institutions;
• establishes signs of solvency of banknotes and coins, the procedure for their destruction, as well as replacement of damaged banknotes and coins with valid ones.

There are currently two types of banknotes in the channels of cash circulation, which are an unconditional obligation of the Bank of Russia and are required to be accepted in all types of settlements and payments - banknotes (bank notes) and coins. Currently in circulation there are banknotes in denominations of 10, 50, 100, 500, 1000 and 5000 rubles. and coins in denominations of 1, 2, 5, 10 rubles., 1, 5, 10, 50 kopecks.

Make banknotes at the enterprises of Goznak. The Central Bank of the Russian Federation designs banknotes: each banknote has a unique design theme and predominant color, and the entire series of banknotes of one issue contains common elements design. The first stage in the creation of banknotes is the execution of a large-scale drawing using computer technology; then a metal engraving is performed, which is converted into a metal cliche with a pattern that is repeated many times in real scale. Banknotes are printed from the cliché. In the production of banknotes, three types of printing are consistently used: offset, deep (intaglio) and high (typographic).

Modern banknotes have a set of security features that make it difficult to counterfeit. For example, a 5000 ruble banknote issued in 2006 contains security elements (Table 3.1).

Table 3.1. Signs of solvency of a banknote with denomination of 5,000 rubles.

The circulating banknotes of the 1997 model and the modified banknotes of the 2004 model contain a plot, which is a “city series” - each banknote is dedicated to a specific city of Russia.

Coins in denominations of 1 and 5 kopecks. are made of white bimetal cupronickel - steel - cupronickel. Coins in denominations of 10 and 50 kopecks. are made of yellow copper-zinc alloy. Coins in denominations of 1 and 2 rubles. are made of white copper-nickel alloy. Coin in denomination of 5 rubles. made of white bimetal cupronickel - copper - cupronickel. A unique two-color coin with a face value of 10 rubles. (fig. 3.22). It contains a nickel silver disc and a brass ring. When making a coin, the ring with the disc is first assembled, then the inscription is applied, and only then the final minting takes place. Four degrees of protection were used for the first time:

• combination of yellow and white metal. The relief pattern passes from the yellow ring to the white core;
• reefs - lines on the side of the coin;
• the inscription that goes along the reefs: "ten rubles";
• latent image - two inscriptions are "hidden" at zero: with one tilt you can read "10", with the other - "rub".

Rice. 3.22. Bank of Russia coin in denomination of 10 rubles. sample 1997

As an element of the monetary system of Russia, it is a set of purchasing, payment and accumulated funds serving economic ties and owned by economic entities (individuals and legal entities, the state).

To analyze the volume and structure of the money supply, as well as its movement in the financial statistics of the Bank of Russia, four monetary aggregates are used:

An independent component of the money supply is the monetary base (), which includes the aggregate, cash in circulating cash desks of banks, bank funds in accounts required reserves and correspondent accounts with the Central Bank of the Russian Federation. This money has not only great liquidity, but also demonstrates the efficiency of the Central Bank of the Russian Federation, its ability to fulfill its obligations. V economic research this money is also called “high efficiency” money, since it can be directly controlled by the Central Bank of the Russian Federation. In the practice of managing money circulation, the Bank of Russia uses several aggregates of the monetary base (see Fig. 3.25).

One of the features of the monetary circulation in Russia is the use of foreign currency as a means of payment and a form of savings. This led to the use of another indicator of the money supply - “broad money” (), which includes the aggregate () and deposits in foreign currency in the national banking system (foreign exchange liabilities of credit institutions). This indicator is used to predict the demand for money, changes in the ruble exchange rate, the stability of the financial and banking system, and capital flight. To determine the value, the average annual exchange rate is used. Thus, the total money supply includes the money supply in foreign currency and the national money supply (Fig. 3.23).

Emission system The Russian Federation combines the emission of cash and non-cash credit emission. The Bank of Russia issues cash into circulation. Their turnover is organized according to the scheme (Fig. 3.24). Cash flow starts at structural units Of the Central Bank of the Russian Federation. Cash is considered to have entered circulation after transferring it from the circulating cash desks of cash settlement centers (RCC) to operating cash desks commercial banks. From the operating cash desks of commercial banks, money is given out to customers (enterprises, organizations, individuals). Cash is constantly circulating, since after the completion of the settlement and payment turnover, it is returned to the operating cash desks of banks, and then to the circulating cash desks of the cash settlement centers. Thus, cash is issued and withdrawn continuously.

Rice. 3.23. The structure of the aggregate (total) money supply in the Russian economy

Rice. 3.24. Organization of cash circulation

The emission is additional issue money into circulation. Money issue - this is a change in the amount of money in circulation; it is concentrated in the Bank of Russia. The need to issue or withdraw money from circulation is determined on the basis of forecasting cash turnover. The change in the non-cash money supply is called credit issue.

Cash and non-cash money supply represents the liabilities of the banking system, equal to the monetary assets of economic entities in the country (enterprises and organizations, the state, households). (The Central Bank of the Russian Federation and commercial banks) undertakes obligations in which it realizes the demand for money (Table 3.2).

Table 3.2. Scheme of the balance of the national money supply in an analytical presentation

The main source of money supply is the issue of credit, concentrated in commercial banks, which participate in the expansion of money supply directly due to the effect of credit multiplication and indirectly, using the refinancing system of the Central Bank of the Russian Federation and emission against the growth of gold and foreign exchange reserves. To analyze the money supply in the Russian economy, the Central Bank of the Russian Federation uses several indicators of the monetary base (Fig. 3.25).

Rice. 3.25. Monetary base structure

The structure and dynamics of the monetary base in the Russian economy, which forms the basis of the money supply, is characterized by a number of features:

- a set of monetary instruments (parameters of the money supply, reserve rates, interest rate, loan terms, refinancing rates, etc.) and institutions of monetary regulation (the Central Bank of the Russian Federation, the Ministry of Finance).

In accordance with the Constitution of the Russian Federation, the main function of the Central Bank of the Russian Federation is to protect and ensure the stability of the ruble, which it exercises independently of other government bodies. To implement this function, Federal Law No. 86-FZ provides for a number of monetary regulation instruments that are used by the Bank of Russia:

• interest rates on Bank of Russia operations;
• Required reserve ratios deposited with the Bank of Russia (reserve requirements);
• open market operations;
• refinancing of credit institutions;
• foreign exchange intervention;
• setting benchmarks for money supply growth;
• direct quantitative restrictions;
• issue of bonds on its own behalf.

Since the cash issue is fully controlled by the Bank of Russia, these instruments are aimed at managing the credit issue, i.e. credit activity of commercial banks. The volume of lending by commercial banks to the economy (business entities) depends on the amount of resources that they have attracted into their turnover, called liabilities. With the help of instruments of monetary regulation, the bank can expand or reduce the volume of these resources, depending on the monetary program adopted for the corresponding financial year.

The order of cash discipline in the economy.

The procedure for establishing the monetary and exchange rate;

Monetary regulation mechanism;

Forecast planning procedure;

The structure of the money supply in circulation;

1.Money unit- a statutory banknote that serves to measure and express the prices of all goods. The monetary unit is usually divided into small multiples. Most countries use the decimal division system.

3. Emission mechanism - the legally established procedure for issuing banknotes into circulation. Emission operations (for the issue and withdrawal of money from circulation) in the states are carried out:

1) - a central (issuing) bank enjoying the monopoly right to issue banknotes, which constitute the overwhelming majority of cash;

2) - the treasury (state executive body), which issues small-scale paper banknotes (treasury notes and coins made of cheap types of metal, for which in developed countries accounts for about 10% of the total issue of cash).

In industrialized countries, as a rule, government paper money (Treasury bills) is not issued, with the exception of the United States - Treasury bills of $ 100 are used there, and in some developing countries paper money has a fairly wide circulation.

Central Bank banknotes are issued in three ways:

Providing loans to commercial institutions;

Government lending secured by government securities;

Issuing banknotes by exchanging them for foreign currency.

4. The structure of the money supply in circulation- represents the ratio of cash and non-cash money, as well as the ratio of banknotes of different denominations in the total money turnover.

5. The order of forecast planning - includes a system of plans for monetary circulation, the bodies that make up these plans, the tasks solved by the plans.

6. The mechanism of monetary regulation Is a set of instruments for the state's influence on the economy as a whole.

7. Procedure for setting the exchange rate- or currency quotes, i.e. the ratio of the country's monetary unit to foreign currencies.

8. The order of cash discipline in the economy - reflects a set of rules, forms, cash and reporting documents, which are guided by legal entities and the population when organizing cash circulation.

Modern market-type monetary systems build on the following principles:

1. The principle of centralized management of the monetary system.

2. The principle of predictive planning of cash flow.

3. The principle of stability and elasticity of money turnover.

4. The principle of the credit character of the issue of money.

5. The principle of security of banknotes issued into circulation.

6. The principle of the Central Bank's insubordination to the government and its accountability to the country's parliament.

7. The principle of providing the government with funds only in the form of lending.

8. The principle of the integrated use of instruments of monetary regulation.

9. The principle of supervision and control over money circulation.

10. The principle of functioning exclusively of the national currency on the territory of the country.

The country's legislation provides for payments for goods and services within the country to be made exclusively in national currency. This does not mean that the population cannot freely exchange the national currency for the currencies of other countries on the territory of the country, but it is allowed to use such currency received during the exchange for payments abroad, as well as placing in the deposits of banks.

1.4 Elements of the monetary system

Like any system, the monetary system consists of a number of elements, which are presented in Figure 2 (Appendix 2).

The elements of the monetary system include:

1. Name of the currency

this element of the monetary system, as a rule, is formed historically, but in some cases the state may establish a new name for the monetary unit. In Russia in the period 1822-1947. there were two names for the monetary unit - "ruble" and "chervonets". After the monetary reform of 1947. and up to our time in Russia, a single name for the national monetary unit - "ruble" has been preserved, which was enshrined in the law "On the monetary system of the Russian Federation" and the law "On the Central Bank of the Russian Federation" adopted by the Parliament of the country.

2. The procedure for securing banknotes.

State legislation establishes that commodity assets, gold and precious metals, freely convertible currency, securities, insurance policies, guarantees of the Government, banks and others can serve as collateral. financial institutions... The use of other types of collateral or violation of the basic rules of registration by banks should not be allowed.

3. Emission mechanism

It represents the procedure for the release of money into circulation and their withdrawal from circulation. Non-cash money is issued by commercial banks in the course of their lending operations. When repaying loans, money is withdrawn from circulation. Cash is issued through the settlement and cash centers of the Central Bank. Withdrawal of cash occurs when cash is deposited by commercial banks in settlement - cash banks.

4. The structure of the money supply in circulation

It is considered in two ways. This is either the ratio between cash and non-cash money supply, or the ratio between banknotes of different denominations in the entire volume of the money supply.

5. The order of predictive planning of money turnover

This procedure includes a system for forecasting cash flow plans; the bodies making these plans, the set of indicators determined with the help of these plans; tasks solved by each plan.

6. The mechanism of monetary regulation.

This mechanism is a set of instruments for monetary regulation, the rights and obligations of the bodies carrying out monetary regulation, tasks and objects of monetary regulation.

7. Procedure for setting the exchange rate and quotation of currencies

This means the ratio of the currency of a given country expressed in the currencies of another country. Before perestroika, Russia used the procedure for establishing the exchange rate based on the gold content of various currencies. However, since at present in no country is the gold content of a monetary unit recorded, a quotation method is now used that takes into account fluctuations in the purchasing power of national currencies, as well as the demand and supply of a particular currency in foreign exchange markets. The most popular quotation method is based on a “basket” of currencies, in which the national currency is compared with a number of other national currencies included in the “basket”.

8. The order of cash discipline in the economy

It reflects a set of general rules, forms of primary cash documents, reporting forms that should be followed by enterprises and organizations of all forms of ownership when organizing cash flow passing through their cash desks.

Control over the observance of this procedure is entrusted to commercial banks that provide cash services to farms. Modern monetary systems are not static. They continue to evolve to become more economical and efficient. The general trend for the monetary systems of different countries is the expansion of the use of modern computing computer, electronic technology in the organization of monetary circulation. The concept of "electronic money" is more and more widely used, which are no longer records on paper media, but records in the form of electronic symbols, primarily on magnetic or other media. This makes it possible to significantly increase the share of non-cash turnover in the total money turnover, speed up settlements, ensure better control of banks and tax authorities over money turnover, and achieve significant savings in circulation costs.

2 FEATURES OF THE MONETARY SYSTEM OF THE RUSSIAN FEDERATION

2.1 Legal basis monetary system of the Russian Federation

The monetary system of any state is subject to legal regulation.

The leading role of the state in the development of the financial and credit system is ensured by the Central Bank of Russia. The Russian Federation is in charge of the financial, currency regulation and money issue. These are the most important powers of the state in accordance with Art. 4 of the Federal Law on Amendments and Addenda to the Law of the RSFSR "On the Central Bank of the RSFSR" dated April 26, 1995 are referred to the competence of the Bank of Russia. Monetary emission is carried out exclusively by the Central Bank of the Russian Federation, whose main function is to protect and ensure the stability of the national currency - the ruble. Moreover, the Central Bank of the Russian Federation performs this function independently of other government bodies. Those. It should be noted that the Constitution of the Russian Federation classifies the Bank of Russia as a government body.

Until 1995, the issues of organizing the monetary system were regulated by a separate normative act - the Law of the Russian Federation on the monetary system of the Russian Federation of September 25, 1992, April 26, 1995 with the introduction of the Law on amendments and additions to the Law on the Bank of Russia, the said normative act lost force, and the organization of the monetary system is entrusted by law to the Bank of Russia.

In accordance with the Law of April 26, 1995, the main activities of the Bank of Russia are: protection and ensuring the stability of the ruble, including its purchasing power and exchange rate in relation to foreign currencies; development and strengthening of the banking system of the Russian Federation; ensuring the efficient and uninterrupted functioning of the settlement system. In the sphere of banking regulation, serious changes are constantly taking place, as this complex system is being formed and adjusted. The federal law that has come into force also contains many articles regulating the activities of commercial banks.

The Constitution of the Russian Federation includes financial and currency regulation, money issue, federal banks to the jurisdiction of the Russian Federation. Consequently, the monetary system has a constitutional basis, and the norms of the Constitution about it are both norms of constitutional (state) law and norms financial law.

Financial law sets out in detail the organization of the monetary system of the Russian Federation. In addition, with the help of the norms of financial law on the signs of the solvency of banknotes, on ensuring the procedure for the circulation of cash, the basics of organizing settlements, etc. its normal functioning is ensured.

Norms civil law regulate issues of ownership of money (banknotes), the procedure for settlements in transactions of a civil nature.

The norms of administrative law establish responsibility for administrative offenses in the field of the monetary system, mainly in the process of monetary circulation.

Finally, the norms of criminal law provide for criminal liability for the commission of crimes against the monetary system (previously this was mainly counterfeiting - making or selling counterfeit money).

For the first time, the Criminal Code of the Russian Federation introduced liability for "Abuse in the issue of securities (issue)".

Thus, the norms of many branches of law are directly related to the monetary system.

A set of financial and legal norms specifically devoted to the monetary system is contained in the Federal Law “On the Central Bank of the Russian Federation (Bank of Russia)”. In addition, certain norms related to the monetary system are contained in the Federal Law "On Banks and Banking Activities", in Civil Code Russian Federation and some others legislative acts Russian Federation.

Financial and technical issues that ensure the functioning of the monetary system (production of banknotes, the rules for their transportation, storage and collection, the creation of reserve funds of banknotes, the establishment of signs and procedures for payment, replacement and destruction of damaged banknotes, and others) are regulated regulations Bank of Russia, issued on the basis of legislation.

Monetary regulation of the Russian economy is carried out by the Bank of Russia. In the manner of the specified regulation, the Bank of Russia determines the norms of required reserves, discount rates on loans, establishes economic standards for commercial banks, conducts transactions with securities.

The Bank of Russia, in cooperation with the Government of the Russian Federation, develops and implements a unified state monetary policy aimed at protecting and ensuring the stability of the ruble.

Monetary circulation - the movement of money in cash and non-cash forms, serving the circulation of goods, as well as non-commodity payments and settlements.

The right to choose the form of payment - cash or non-cash - belongs to interested enterprises, institutions, other organizations, citizens. Only in cases specially provided for by law should the form of payment be clearly defined. This is, for example, payment wages, scholarships and pensions produced in cash... Emphasizing the closest connection between the circulation of cash and non-cash money, the legislation operates with the category of "money supply". Money supply is banknotes in circulation; funds on accounts and deposits of legal entities and citizens; other unconditional monetary obligations banks. The Bank of Russia may establish benchmarks for the growth of one or several indicators of the money supply based on the main directions of the unified state monetary policy.