Who carries out the emission of cash. Emission. Types of emissions and her order

The financial system of any country includes a monetary system, the main element of which is the emission of money. Without this item, the existence of the state economy is impossible, as well as the implementation of its internal and external payment operations, because the money is the main and universal means of payment.

Depending on the type of money produced, the Issuer, as well as some other signs, the issue may be divided into different kinds. Next will be discussed in detail how this process occurs and what it leads to.

Money emission and its types

The totality of all moneywho are in the circulation of the country, called the money supply. This value is non-permanent and under the influence of a plurality of factors can vary - both in large and in a smaller side. The emission of money supply leads to an increase in money supply - release extra money in appeal.

1. Cash- Release of extra paper money and coins in appeal. Due to which there is an increase in the total money supply. The incoming money is either minted (if they are coins), or printed (if they have a paper form).
2. Non-cash- a priority type of emission, which is on average about 80% of the general issue of money. This is due to the fact that in most developed countries, cashless money is the prevailing payment facility. The emission of non-cash money occurs by issuing loans or with the help of making money in bank accounts.

Another classification divides emissions into two types:

1. Primary - Cash is issued in turnover by the central bank of the state. At the same time, the form of money can be both in cash and non-cash. The primary emission includes such operations of the Central Bank as:

• printing banknotes (coin chasing);
• issuance of loans to commercial banks;
• purchase of foreign currency;
• state lending.

2. Secondary - The issue is carried out by commercial banks that lend all other market participants. Within the funds available from the Bank, it can issue loans to other subjects using the funds obtained for example from the Central Bank.

Depending on the issuer (that is, the subject that makes the issue of money), the emission is divided into two types:

1. Budget emission of money- carried out by the state, which most often has a monopoly eligible for cash issues.
2. Credit emission of money- carried out by banks and consists only of non-cash or secondary emissions.

The main factor that determines the need for cash emissions (both in cash and without cash form), and also affects its size, is the need for coverage Organizations and enterprises. The purpose of the issue is to meet precisely this need and timely provision of economic entities with the necessary money. To other emission factors can be attributed:

• production growth, increase in car consideration and market subjects;
• reduction of the rate of money circulation;
• rising prices, independent of the quality of the selling product (goods or services).

The accurate procedure for the release of funds to appeal depends on the specific country and in different states may differ significantly. The sample can be considered the systems of the most developed countries with market economy: USA, EU countries, Japan, etc.

In addition to the emission of money, there is also a story about which we told in the previous article.

Who makes emissions of money in the Russian Federation

The main document of the state is the Constitution of the Russian Federation - contains several provisions regarding emissions in the country:

• the monopoly right to issue money belongs Central Bank RF;
• the main thing and the only permissible payment Tool On the territory of the state - the Russian ruble;
• release into the circulation of money another currency or another issuer is prohibited;
• at the Central Bank of the Russian Federation, duties are assigned not only for the release of monetary signs, but also to withdraw;
• in the form of emissions, the central bank is not limited - this can be both cash and cashless money.

In accordance with the law, the decision on the release of money in turnover, as well as their withdrawal, the Board of Directors of the Central Bank is taken. When issuing a ruble (the only legal means of payment), its ratio with gold or some other precious metals is established.

For the production of own cash (in the form of coin chasing) in Russia, there are special monetary courtyards:

1. Moscow Mint.
2. St. Petersburg Mint.

In addition to the chasing of state coins, they are engaged in the manufacture of orders, medals and other products from precious metals. Also in small quantities on these courtyards there is a coin coin for foreign countries.

Printing money (paper) in Russia occurs in special printing houses that can provide an increased level of protection. The process of making money (both the printing of banknotes and coins of coins) is rigidly regulated and under control of the Central Bank.

As for non-cash money, they are issued in the form of loans provided by the Central Bank of the Russian Federation a variety of commercial banks. In the form of secondary emissions, these banks can also provide loans to other entities of economic relations, thereby increasing the value of the country's non-cash turnover.

The emission system of Ukraine is largely similar to the Russian. The primary cash issuer is the National Bank of Ukraine, which has monopoly rights to issue a state monetary unit - hryvnia. In addition, the NBU also has the exclusive right to withdraw money from turnover.

The primary cash issuance is carried out by the National Bank in non-cash form - the printing of money is carried out only to cover these previously issued non-cash funds. For printing, banknotes uses a banknote-mint NBU. Non-cash emissions can also be carried out by commercial banks (in the form of lending to other subjects).

Several factors can be distinguished, which at this stage of the development of the Ukrainian economy negatively affect its emission system:

All these factors lead to the need to exercise additional emissions of funds, thus increasing the total money supply of the country. This leads to the depreciation of the National Monetary Unit and the emergence of negative trends in the development of the economy of Ukraine.

As a result, it can be noted that:

1. The main way of increasing the money supply in the turnover of the state is the issue of cash.
2. Money into circulation can be produced both in cash and in cashless form.
3. The priority form of cash settlements in all developed countries is non-cash.
4. The monopoly right to the issuance of cash in Russia (banknotes, coins) belongs to the central bank.
5. The emission of money in Ukraine does not have significant differences with a similar process in Russia - the difference consists only in the legal monetary unit established by the state.

Money is an integral component of the economic turnover of any modern society. The growing needs of the market require a permanent issue of banknotes, coins, non-cash option (loans, shares, bills, etc.). Every conscious citizen is obliged to understand what is the issue of money and in which form it happens.

What is included in the concept

Under the emission of funds understand the issue of banknotes, credit products, notes, stocks. The right to additional release have exclusively non-commercial state structures (state banks, treasury). The central bank organizes the issue of credit mass, while the Treasury eusitates monetary signs and coins.

Each specific state has its own procedure for the organization. monetary emission, The volume of cash, the form of provision, etc. is regulated. The process of issuing money in Russia in the domestic currency is an emission system. In most developed countries, the growth of non-cash turnover is practiced simultaneously decreased by cash.

Speaking about money emissions, the definition should include not only the literal designation of printing paper money or coins chasing. Explain simple words The term "emission" and which means such a phenomenon for economic Life States will allow the following situation.

The turnover of money consists of cash and non-cash resources and occurs due to the release and use of paper banknotes and coins or through the amounts on accounts, deposits without restrictions on time. It is important to understand that both variants of the turnover of funds are closely interconnected in the process of performing their functions with the transition of one type of money in another.

As part of the state, the cash emission is made in the form of paper banknotes and credit fundsThat allows you to distinguish between the budget emission of money and the release of credit funds.

The emission of money has always been under the control of the state, a monopolo-regulating production of cash. As modern banking tools develop, more weight has a release credit money, notes, checks. Using the exchange of bills of exchanges of the Central Bank of the Russian Federation issues banknotes. Thus, the concept includes a much more extensive value than the usual output of cash.

The release of a new batch of funds does not always stimulate the growth of turnover, at the same time the need for the closure of accounts, withdrawal technically and physically obsolete banknotes, the closure of debt obligations appears. Thus, during the emission of money, the structure of the mass of money in circulation is redistributed.

The characteristics of the Em session policy of the Russian Federation include:

1. The lack of commitment to ensuring the gold of the Russian ruble.
2. As a payment instrument having borrowing throughout the country, the ruble appears.
3. Printing banknotes, regulation of their input into circulation is in monopolies in the Central Bank of the Russian Federation, guaranteeing cash with assets.
4. The limitation of metabolic functions is prohibited, the duration of the walking of paper bills and coins - from year to five with the possibility of further replacement.

Using the issue of money, the amount of mass used, an integral part of inflationary processes increases. If gold money is used in the walk, the volumes are regulated by current needs, which means accumulating stocks in the treasury and a new start in circulation. Currently, paper-money and credit treatment of funds are used with the inability of cash emissions to self-regulation. When developing production processes and growth in sales of products, money supply is increased. If the offer exceeds the demand, there is an increase in prices, which is called inflation.

Central Bank, conducting a cash issuance, introduces funds to appeal on the results of preliminary forecasts for volumes and regions. The means are included in the turn in the form of banknotes and coins with a further transition between economic entities to financial structures and return back. The so-called monetary unit has no value equal to the nominal. Only cash uses in circulation, and non-cash funds They are reflected in the accounts on accounts.

The issue of deposits, checks are implemented within the framework of emissions of non-cash both from the Central Bank and privately. The deposit and check form is the basis of non-cash payments exceeding the amount of cash emissions.

Most of the issue in the form of non-cash funds are represented by loans. The issuance of credit funds increases the bank multiplier, which leads ultimately to the growth of the money supply.

The bank-issuer guarantees purchasing power Credit money produced only own reputation. Protection against the possible risks of the bank is an adequate assessment of the customer's solvency. Borrowed funds are issued for certain purposes, expenses, payment.

When emissions are non-cash, the mass is replenished with credit resources according to the following scheme.

In the presence of a certain amount of goods in the country, it can balance the specific money amount. The loan is issued from the tools that lie on other accounts. Although funds are issued from other depositors, it is not actually a mass reduction. As a result, the same amount can be taken into account on estimated account depositor, and as issued borrowed funds. As a result, the money supply increases by the amount of the loan.

After that, the total weight of the money will exceed the cost of goods on the value of the loan. However, the borrower lent the amount of the bank, produces certain products, which then comes on sale, balancing over the mass.

One of the varieties of the process is the issue of securities. This financial instrument involves solving specific tasks. The issue of securities (shares, bonds) has the right to carry out not only the state, but also commercial organizations.

The procedure for issuing securities is strictly regulated by the current laws of the Russian Federation.

The implementation of securities is intended mainly in order to attract capital. Organization or state, publishing a batch of shares and other securities, can take it in the formation order authorized capital commercial organization. The capital replenishment of the organization occurs with the help of unexpected or borrowed investments. As a issuer can act as state structures and ordinary russian companieswhich are joint-stock companies in various fields of activity. Released shares are sent to the development and modernization of production, the solution of important issues to implement commercial activity With new material means. The emission is carried out with the introduction of a new batch of papers on the market, which means the possibility of acquiring them at fair prices, based on the position of the company. Shares are not subject to internal distribution between the governing formation and lead to a decrease in the share of primary shareholders.

Money turnover is closely interrelated processes between business entities with regular change of money forms. Thus, if a citizen hears about the emission of money, it means that it is planned to issue money in turnover or a new batch of securities will appear or the credit direction is activated.

Transactions with money, both in cash and non-cash relating not only direct residents of the country, but also banks that are engaged in release. There are situations where the country needs to receive an additional amount of monetary signs, in this case the issue of emissions.

What is the emission?

The emission of money in a wide concept implies the release of an additional amount of monetary signs or other means of payment, and, accordingly, the introduction of them into circulation. This approach ends with the fact that the money supply increases at times, how much more depends on the number of additional money issued.

Despite the fact that the issue itself implies the issue of money, but in the economy such concepts are made to divide. The fact is that money is constantly being produced, but in the case of the usual release of money, the same number of spoiled bills "is disposed of". The emission also implies their additional release without withdrawing a similar amount.

Molds of emission

Except that there is an emission, it is necessary to understand what is and different forms This procedure. Distinguish three main forms:

• fiduciary;
• deposit and check;
• emissions of securities.

Despite the rather unusual name, it is the first form of emission that is an additional issue of monetary signs. Earlier, each additionally released banknote was supposed to be supported by a certain amount of gold. That is, the value was directly precious metal, and the money was released only for convenience. But after a certain time, this rule refused, so the release of an additional number of banknotes is currently not secured by gold.

The second type of emission is mainly directed to commercial banks. If compared in volumes with fiduciary, then the deposit-check is significantly superior in volumes.

Emissions of securities, rather, concerns specific companies, and in most cases at the beginning of their path. The fact is that novice companies have quite rarely worthwhile capital, which could give impetus to business at a serious level, so companies need additional investments. Release securities that can act shares, bonds, etc., they enable investors to buy them with the condition of payments in the future dividends. The faster the company develops, the more significant the stock will grow, since it is one of the indicators of the development and profitability of the company.

What primary?

There are two concepts and two types of calculation that run side by side. Therefore, cash emissions and cashless money is considered part of one action. And although two of these process are inherently complement each other, one procedure is previously carried out.

The emission of cashless money is primary, because before printing more money, their increase must be reflected as electronic data on the accounts of commercial banks.

How is the introduction?

After the emission of non-cash money occurred, their introduction begins in turnover. They go from banks when there is a work of various credit operations. From this fact, it appears that one of the main principles of introducing new money is the credit nature of the operations produced.

The main goal additional release Cashless money, and due to cash, it becomes possible to meet the need for the necessary amounts of those enterprises that need investments. And it happens quite simple. The central bank gives a loan to a group of commercial banks, and an additional amount of money appears on their account. For constant growth Production of the population requires an additional amount of money than and is due to how the mechanism of cashless emission of money works.

Banking multiplier

Like other processes, the emission should have its own system and the work mechanism. In this regard, there is similar and emissions of non-cash money, the mechanism bank multiplier Allows you to enter the action. The banking multiplier call the process of creating more cash capital on deposit accounts of certain commercial banks. Such a process can be introduced during the flow of money.

Multiplication as a process

Despite the fact that it is carried out according to one principle of non-cash money emissions, the multiplier may have its own varieties. In this regard, the concepts of banking, credit and deposit multiplier distinguish the concepts of all processes, the principle of all processes combines an additional increase in cash, but this occurs under different conditions.

As for the banking multiplier, in this case the emission of non-cash money is carried out thanks to commercial banks. main feature The fact that a whole system should be involved, one bank independently implement such a process.

As for the credit multiplier, here almost completely the entire system describes the name of the process. The mechanism is that the main process in this case There will be a transfer of credit funds.

The deposit multiplier allows you to demonstrate the process at the expense of the object itself. That is, it reflects the money that are on deposit accounts of banks, it is their increase that will be seen after the animation.

Procedure

Many may seem that there are no special difficulties in this process. Perhaps this is the case, but it is necessary to comply with a certain order of operation, where the first level and initial instance will be central bank. Next, the order of cash and cashless money emission demonstrates the next stage of the mechanism - commercial banks.

And if the Central Bank is seen as a subject that monitors the process, then commercial banks allow you to introduce emissions into action. Moreover, this process is so automated that one particular bank cannot affect it and somehow disrupt this system. In addition, the implementation and introduction to the work of this mechanism directly depends on the free reserve.

Free reserve

The emission of non-cash money cannot be carried out without the so-called free reserve. This concept implies a set of all resources that are available in commercial banks, which can be used directly to be used in this particular period of time to perform active banking operations. Despite the fact that the concept has long become everyone known, and in the Russian Federation it has come from the West, it cannot be considered completely true. The fact is that the reserves of a specific commercial bank, which are considered free - these are liquid assets, but based on the definition, it is clear that in this case the liabilities of the bank are implied.

Who is assigned to

The main question remains the one who makes the issue of non-cash money? Naturally, one of the main roles belongs to the system of commercial banks, but this does not mean that it is worth forgetting about the centrobank. But even at present, economists do not give a specific answer about the role of the Central Bank, when the emission of non-cash money of the Russian Federation is held. At the same time there are certain positions on this issue in which economists agree:

• The implementation of non-cash emissions takes place primarily at the Central Bank. Commercial, in turn, are responsible for the introduction of this system and for the redistribution of emission funds.
• Commercial banks themselves cannot set the volumes exceeding them. These figures depend on the funds existing on the correspondent account in the Central Bank.
• The process of emission of non-cash money can not be carried out only by central or only by commercial banks, since the first makes it possible to carry out this process, and the second carrying out of various operations leads it into action.

As for the monopolization of the system, its exercise in favor of the centers would have happened only if the mandatory reservation rate was equal to the indicator 100%.

All undercrow

The fact is that, despite the absence of printed currency, it is necessary to control the money supply and in non-cash. Each quarter is predicted and calculations of money capes, which will be in circulation. This indicator includes not only cashless money, but also printed banknotes, including any monetary obligations banks. Based on these calculations, you can regulate the system of need for money emissions and calculate their number in a certain period of time.

In addition, other indicators are also taken into account. For example, how socially and economically develops a certain city or region is whether there is a need for emissions, and if there is such an additional issue of money in such a number. But this is not just virtual figures and exemplary calculations, the income and consumption of citizens are taken into account, the average indicators for the population of a particular region are derived. It is accounted for, what remnants of accounts, deposits or loans are currently.

Only after that we can talk about the increase in funds in the population as a whole. In addition to quarterly indicators, which are monitored to count indicators, there is also a monthly monetary volume control, which is in circulation.

Cash emissions

Many concepts are better known in comparison, one of those that can be considered on the one hand add-on, and with the other complete opposite, the emission of cash is made. This is the same process of an additional issue of money, only it differs from non-cash, what is printed monetary units. The process can not be called more difficult, it's just another.

This particular sphere has its own monopolists, as for the Russian Federation, in this country such right belongs to the Central Bank of the Russian Federation.

The emission of cash is decentralized, and this is your explanation. The need for an additional amount of paper money primarily depends on the population, which turns into local commercial banks with the desire to get more cash. These indicators are constantly changing, in one month they can reflect one digit, and in the following much less or more. It is not only difficult for you to keep track of them, but also to satisfy them inexpediently.

The process of introducing an additional amount of cash is carried out initially the Central Bank of the Russian Federation, as well as its divisions that are available in different regions and allow us to carry out consuming and cash services. Therefore, revolving cash regulations and reserve funds are necessary.

Cashier - this is a combination of processes and cash processes familiar to us. That is, the money here is in constant movement, in circulation. If there is more money than usual, they are withdrawn and moved to the reserve fund.

As for the reserve fund, there are money that are not involved in constant turnover, their purpose to act in a working capital in the event of an increase in the need to issue cash to citizens.

(from Lat. Emissio - release) - issue into circulation of money and securities. Right to emissy Money has central (national) and other state banks.

In the Russian Federation in accordance with the Constitution (SG 75) monetary emission It is the exclusive right of the Bank of Russia. Cash emissions occurs on a credit basis in accordance with the needs of economic turnover. The dimensions of the emission of money or withdrawal from the circulation are established by the Bank of Russia's cash plan. Monetary E. is in the issuance of consulting and withdrawal from the circulation of monetary signs (banking tickets and metal coins), the organization of their manufacture, regulation of the money supply in circulation.

The right to E. securities is based on general legal capacity and belongs to the state and legal entities. Accordingly, the state (municipal) and private E. securities differ. State (municipal) E. Securities serves as a way to mobilize financial resources for coating budget deficit and further social economic Development countries. State represented by the government and authorized body executive authorities issues securities in the form of state loans, state treasury commitments, state short-term obligations (see the state loan). The right to issue bonds of the domestic state (municipal) loan has the relevant authorities of the subjects of the Russian Federation and local governments. The procedure for the issue, appeal and repayment of state (municipal) securities is regulated Federal law "On the peculiarities of emissions and the appeal of state and municipal securities" 1998.

Private E. includes the issue of shares and bonds (emission securities) legal entities (for example, joint-stock companies) and serves as one of the ways to mobilize and increase their capital.

The procedure for E. Securities is established by the Federal Law "On the Securities Market" as well as registration of the report on the outcome of the issue. When registering the securities prospectus, the E. Procedure is complemented by the following stages: Preparation of the specified avenue, its registration, disclosing the information contained in it and all the information contained in the outcome of the issue.

E. Rules are contained in E. Securities Standards Approved Federal Commission on the securities market.

It is impossible to present modern society without money as the necessary part of the economic turnover. To ensure continuously growing market requirements, they must be constantly released:

• in the form of cash banknotes and coins;
• in the form of cashless money (loans);
• as a variety of securities (bonds, bills).

What is money emission

Definition of emission means the process of "production" of new money as the most important element The financial system of the state.

The cashless view of the emission occurs when borrowers loans are provided by banks. In this process, the mass of cashless money in the market increases. If the contributor removes cash from the bank account - the turnover is growing at the expense of cash. Accordingly, the turnover of cash and non-cash remedies is reduced if the depositors quench their loans in one way or another. The issuing system of the state is the process of release, as well as the appeal on the national money market, regulated by the legislation.

Modern trends in the economic development of countries with market principles led to the development and significant predominance in their general money circulation The shares of non-cash money with a parallel cash decrease.

The concept of emission

This term was formed from the Latin word EMISSIO, which means the release, respectively, in conjunction with the word "money", he denotes the release into the economy of money or securities. But in this case, this translation does not fully reflect the essence. It should be known that the value of the "emission of money" expression does not mean literally release of money. The creation of issuers (manufacturers of money supply) of new money does not necessarily provoke an increase in total monetary volume in the country due to the fact that in the economy in parallel there are continuous return operations - closure of accounts, withdrawn from consuming bills, paying debts on loans. In this case, no emission is carried out as such, but only the redistribution of structural elements occurs monetary turnover. The processes reflecting emissions in any of their variant means an increase in total money supply in the country's economy, and their uncontrolled consequences are always fraught with negative trends.

Each country establishes its emission schemes that regulate its value, the norm and form of treatment, the rules for cash output. Economically the developed countries Install the dominant role of the Central Bank in this process.

Rules of emissions in the Russian Federation

The following basic elements of the emission policy were formed in Russia:

1. Ensuring the ruble with gold assets or other is not provided.
2. The ruble is a payment tool approved by law, mandatory for the entire territory of the country.
3. Printing of cash and the organization of their entry into the economy of the country is the area of \u200b\u200bactivity exclusively by the Central Bank of Russia.
4. The Central Bank performs the sole and unconditional guarantor of the entire cash in the country, providing it with only its assets.
5. The imposition of any restrictions in the exchange procedures is prohibited - to replace banknotes or coins to new money, the permissible period of their withdrawal is determined by a duration of at least a year. The upper limit is limited to five years.

Em session processes: role distribution

The separation of money emission depending on the type of the issuer (money creator) is determined by the following scheme:

Central Bank:

• releases banknotes - monetary signs;
• performs the function of acquiring treasury tickets and issues banknotes for balance against them;
• produces control over the release of securities by commercial banks, leads their accounting and will annoy, releasing their money against bills;
• buys foreign currency, I release in parallel your own against it.

Treasury Department:

• exercises the release of treasury tickets;
• produces exchange coins.

Commercial banks:

• make issuing loans (credit money) to economic agents as a state, enterprises, foreign companies, individuals.

Types of emissions and her order

Distinguish the following types of emissions:

1. Monetary
2. Deposit and check.
3. Valuable papers.

In the establishment of financial systems, the monopoly on emissions belonged to the state. However, with the emergence of commercial banks, they were introduced into the economy and credit money presented by checks and promissory bills. In turn, for overcame of bills, the main banks were forced to launch the issue of banknotes that stabilize the state of the financial market.

As a result, the financial situation was formed in which the state provides its own expenses through the issuance of new money, and banks by issuing loans, that is non-cash funds. From here and the types of emissions - state emission means budgetary or treasury, and banking, respectively, credit.

If the production of new monetary signs and an increase in turnover through their market segments are, according to the legislation of the Russian Federation, exclusively under the jurisdiction of the Central Bank, the credit or deposit-check emission, which is the basis of non-cash turnover, carry out commercial banks that have the right to do this. The issue of securities is carried out by the authorities, state structuresAs well as private companies with such a right.

It should be distinguished initial emissions and secondary.

1. For primary form Non-cash funds (credit money) are entered into circulation by fixing in accounts of banks when receiving loans. The total mass of non-cash in the country is determined by the amounts of credit money.
2. Secondary emission observed when banks cash bank accountsThat is, we produce money in cash, or in other words - turn non-cash funds into cash.

Monetary emission

Cash emission, that is, the emission of rubles, also called fiduciary. If earlier the issue of banknotes in the country was carried out only in the case of covered with its gold reserve, now it is not required.

As money is an important factor, directly affecting the well-being of society, then income from their production (emissions) should remain from the state. As a rule, the Central Bank regulates the release credit cards, and the treasury - banknotes (treasury tickets), securities, coins.

Legal regulation of both the issuing process and the seizure of cash is carried out in a monopoly board of directors of the Central Bank of Russia.

The release of banknotes, as well as, the coins can only be engaged in a specialized institution - a mint. In Russia, there are two of them: in Moscow and St. Petersburg, and they are united in OJSC "Gosnak". Here is the medals, memorable signs, badges. Property bills, bonds, passports, other important documents involving a high degree of fake protection, are printed in one of two specialized printing houses for mint. This is a very high-tech and unique production, the processes of which are controlled by strict regulations.

Emissions of non-cash money

The first stage of emission of non-cash money is observed when issuing the main bank (central bank) of the loans to others financial institutions At the refinancing rate, which settle on their correspondent accounts. The Central Bank remains the amount of loans issued, which is repaid when they are returned.

Cashless money can be issued in the form of loans by all banks that have a license, however, this cannot be carried out without monitoring the Central Bank. Translation volumes between banks are strictly regulated - they are not allowed to excess over the means of the Bank's correspondent account.

In the event of a lack of funds, the bank usually change the refinancing rates. The increased mass of the cash turnover due to increasing lending is called the effect of a bank multiplier provoking negative economic situations.

Monetary emission scheme of the banking system

IN modern economy specific gravity bank deposits in relation to the common money mass Reaches a level of 70-90% in different periods. These accounts are created by banks themselves when lending. As a result of B. lately A situation is developing when the growth of money resources is significantly ahead of growth GDPWhat loans the economy and provokes the emergence of the financial crisis.

Reverse process - reduction of credit money is carried out when repaying loans. If this process is not provided with an adequate amount of emission, it is observed the procedure for its liquidation is the so-called credit compression.

Emissions of securities

The purpose of the issue of securities is to attract additional funds to the economy. Legislation allows them to be released not only by authorities and state, but also to private organizations. Securities in their essence are special financial instrumentfocused on performing certain tasks. It can be:

1. Attracting additional funds into business.
2. Formation initial Capital joint Stock Company. This is a fairly frequent goal of the issue at which a whole batch of securities is formed.
3. Replenishment own capital Not borrowed or borrowed investment.
4. Attracting foreign currency funds.

In any state, there is a continuing flow of cash in non-cash and vice versa. If from the organization financial structure States largely depends the stability of the economy, then any participant in the market, including each of us, will be able to protect themselves from many troubles, being financially competent, including in the matter what makes money emissions.