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MONEY AND BANKING

Money is an intrinsic part of our lives. The money All products commonly accepted in payment for goods, services and debt. The main use of money is made the negotiation process more simple and effective, but in reality money for different uses in the modern world and several functions Tales as:

1. Payment Methods
2. average exchange
3. standard value
4. unit of account
5. reserve value
6. standard of deferred payment

Money as a medium of exchange is used in almost half of all exchanges. services of employees working against money laundering. Poeple buy and sell goods in exchange for money. We accept Money does not consume directly, but they did because they can use to buy things they do not want to consume. The Money is the means by which goods and services trade. To see that the company has a medium of exchange to imagine a barter economy.

An economy Barter has no means of exchange. The goods are exchanged directly or exchanged for other property. In a barter economy, the seller and the buyer should each want something the other has to offer. Each person is both a seller and a buyer. To see a movie, you must give in exchange a good or service The director wants to film. There must be a double coincidence of wants. You need to find a cinema where the manager wants you have to offer in return.

The trade is very expensive in a barter economy. People have to spend time and effort to find people that can be mutually satisfactory exchange. Since time and effort are the scarcity of resources, an economy is wastful Barter.

Although money crutial function is its acceptance as a means of payment and medium of exchange, other functions are equally important. The money also can be used as standard value. Company believes that it is impractical to use one unit for the relative costs of different goods and services. In this role, the money appears as the unit of account, is the unit in which prices and the city, and maintained.

In Russia, the prices are quoted in rubles, U.S. – Dollars, in most European countries – Euro. Usually, convinient to use the units is measured the medium of exchange for the unit of account.

But let history and see how it all started, what is the substance of money and banking.

In most of the companies used in the past the various objects that money. Some of them were very important because they were rare and beautiful, others – because they could not be consumed or used. The earliest forms of money, since they have been used to buy goods. They also used to pay for weddings, fines and debts. However, although everyday objects are very practical kinds of species in many respects, some disadvantages. For example, it is difficult to measure its exact value, divide some of them in a wide range of quantities, to keep some of them over a long period, making use of financial plans for the future. For reasons like these, some companies have begun to other types of money, which is precious.

People in gold bullion, silver. The times were dangerous, and people wanted a safe place for save your gold. Then deposited with goldsmiths, people who worked with gold for jewelry and so on, and also had a dome to maintain surveillance their safety, "and when people wanted a part of its gold to pay for things, are He went for Goldsmith.

Two developments transformed these goldsmiths bankers. The first is that people were much easier to give the seller a letter than it was to get gold and then physically deliver. This letter transferred part gold and were in the goldsmith to the seller. This letter would today call a check. And, of course, once these letters or checks, has become an acceptable means of payment goods, people believe that the gold they had deposited with the goldsmith, was like gold to the gold in their pockets. And as the letters or checks have been easier to wear than gold and much less dangerous, people began to say their monetary assets were what they had with them on their deposits. Therefore, a warehousing system was launched. The second was that the goldsmiths realized that they had used a large amount of gold in their vaults lying doing nothing. This development has been of major importance than the first.

Now for the first bank loan and see what happened. A company has asked a goldsmith for a loan. The goldsmith realized that some of gold in your safe can be provided to the company and, of course, asked the company to return the money later, with some interest.

Bankers gold was one of the first examples of a financial intermediary.

The financial intermediary is an institution specialized in the door of lenders and borrowers together.

Banks are not the only financial intermediaries. Insurance companies, pension funds, corporations and have money to lend his time. The essential feature of the banks is that some of its liabilities used as a means of payment, and therefore part of the money supply.

There may be different TARGET = "_blank"> types of banks.

Central banks monitor the banking system, the fixed minimum interest rates, bank notes, controlling the money supply, the influence of exchange rates and act as a lender of last resource.

A commercial banks are businesses that trade in money. They borrow money from the public, a deposit of accreditation. Statement a liability of a bank. This is money owed to depositors. In turn, the bank lends money to businesses, households or Governments that wish to borrow. Commercial banks are financial intermediaries licensed by the government to issue loans and deposits, not including deposits against which checks can be written.

In some European countries, including Germany, Austria, and Switzerland, there are universal banks that combine deposits and loans of the banking system to deal to share and bonds investment advisor, etc. However, even universal banks in general of a subsidiary, known as the home of financial money a – several percentage points in the bank base rate – for rental or purchase of installment credit, or consumer loans that are repaid in regular amounts equal monthly.

In Britain, the United States and Japan, however, is not, or used to be, a strict separation between commercial banks and banks that grant or fixed income securities. In Britain, investment banks specializing in fundraising for the industry in various financial markets, international trade financing, issuance and underwriting of securities, dealing with mergers and acquisitions, issuance of government bonds, and so on. They also offer brokerage services and administration of broad portfolio of individual and corporate clients. Investment banks in the United States are similar, but can act as intermediaries that provide counseling services and not offer loans themselves.

In Britain there is also the construction SOCI eties that offer mortgages, that is, lend money to home buyers on houses and apartments Investors Security and attract paying high interest rates than banks. The savings and loan associations in the U.S. was a function similar to what most of them have failed dramatically in the late 1980s.

Banking institutions also like the World Bank or the European Bank for Reconstruction and Development, which are generally concerned with economic development.

As you can see, there are many different types of banks, but we can talk about different types on the money. (This classification is mainly based on the functions of money).

In camps for prisoners of war, cigarettes and money. In the 19th century, silver has been mainly gold and silver coins. These are examples of commodity money, ordinary goods with industrial uses (gold) and consumption uses (cigarettes), which also serve as a medium of exchange. To use a commodity money, the company must reduce other uses of this product or devote scarce resources to produce additional quantities of the goods. But there are cheaper ways to make money from the company.

A nominal fee is a payment made by the value or purchasing power of money is much higher than their production cost or the value of other uses of money. What is essential for the survival of token money is the restriction of the right to present it. private production is illegal. Company applies to use the token money and it is legal. The law says it must be acceptable as a means of payment.

In modern economies, are tokens supplemented by the money note. pay a premium is a means of exchange based on the debt of a private company or an individual. A bank deposit money note is because it is a debt to the bank. When you have a bank deposit the bank owes you money. You write a check to yourself or others and the detonation is obligated to pay each time you have had the check. Bank deposits are one of change, because it is generally accepted as payment.

Knowing that each country has its own national currency, but it is a phenomenon like the euro – the European currency, which is acceptable in the 12 European Union countries. January First 2002, the euro, which was adopted in 1999, began circulating on the banknotes and coins. It was a historic moment in European integration. From January 1, 2002, the euro is in cash, but before it can be used for banking and financial operations.

What are the advantages of the euro?

– The euro is a safe currency counterfeiting

– The euro is based on one of the strongest economies in the world, with stable prices

– The euro is good for business

– The euro is near and transparent for tourists

& The last thing I want to address is the banking sector in Russia.

Russia's banking system has presented the levels of two days of banking institutions, the Central Bank of Russia (high level) is the regulatory and commercial banks and credit institutions (lower level) are the providers of banking on economic issues. State, responsibilities and competence Russian Central Bank are described in the Federal Law on the Central Bank.

The main objective of the Central Bank's activities are:

– Protection of the national currency (Russian Ruble)

– The development and improvement of national banking

– Provision for the efficient functioning of payment system

derivation of profits is not considered as object of activity of the Central Bank. Some features are:

– A question of money (monopolized by the central bank)

– Question of the regulation of payment

– Issue and withdraw banking licenses

– The adjustments currency

The operation of payment in rubles in Russia are mostly carried out through the clearing system Central Bank – all the devices on which debts are settled between banks by the addition of all transactions in a given period to pay only the amount required to balance the net inter-bank.

The Central Bank reports to Parliament (Duma).

The commercial banks and credit institutions are based and are operated in accordance with the Federal Law on Banks and banking of any applicable law regulations issued by the Central Bank.

commercial banks considered justified and treated as an entity after the legal registration of his letter to the Central Bank of Russia. The license issued in his name by the Central Bank confirms its right to make bank.

About the Author

Michael Newman: http://homework-expert.net

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