The system of wage rates and various services. The concept and systems of remuneration

AT modern conditions development of market relations without such an economic category as credit is simply not possible to do. In this regard, a loan expressing economic relations between the borrower and the lender that arise in the process of transferring material values ​​/ money on a contractual basis, it is customary to qualify by types that have their own characteristics and are not separately determined.

In total, six types are distinguished, but mostly citizens use a bank loan, and legal entities and the state use a commercial loan, and we will dwell on these in more detail.

• A bank loan is the most common type of credit relations, here the object of transactions is financial resources.

  The Bank, operating with its capital and borrowed free resources, provides a loan on a fee basis (interest rate) to individuals and legal entities in the role of initial capital, designed to bring profit to the borrower, at least until the first payment.

  Everyone everywhere uses such a loan, it will be seen from the characteristics.
  By maturity, this type of loan can be divided into on-call - now it is practically not used; short-term - this includes loans from 6 months - 1 year; most often serve the sphere of circulation, medium-term - from 1-3 years, also effective in commercial outlets and in production direction; long-term - issued for investment purposes.

  In addition, bank loans are determined by such features as the method of repayment, the collection of loan interest, methods and methods of lending, the availability of collateral, types of rates, the intended purpose and potential borrowers.

  Today, within the framework of this type, the population is offered such software products as mortgages, military mortgages, consumer and student loans, car loans and many others.

  Each type of loan has its own conditions for issuing a loan, the interest rate, limiting the possible duration of the loan agreement.

• The second most common option is a commercial loan.

  The main difference from the previous type is that only entity, which can provide a loan in commodity and monetary form.

  Often the actor, here you can see the state and, as a rule, the current interest rates are much lower, this is due to the fact that the cost of the goods is included in the loan fee.

  Most often this type is used in industrial production.

• State credit - the lender is the government, and the process of issuing loans is carried out by the Central Bank of the Russian Federation and a commercial bank.
• International credit - here the participants are financial credit institutions of international level, the government, monopolists and banks.

  The form of lending is carried out most often in cash, but it is also possible in a commercial form.

• A private loan is the issuance of money from one person to another against receipt.

  In this case, terms are not specified, interest may or may not be present, it is in a friendly form.

  Quite common among the population.

• Usury (lombard) - has an illegal nature and high interest rates

A cash loan has the main difference from all other monetary relations - the return movement: bank-borrower-bank is the simplest formula.

Commercial banks based on legal forms for each proposed loan product, they put forward their own conditions and requirements in relation to the borrower, but they all share a common goal: when issuing a loan, make sure that it does not fall into the category of “doubtful” or “overdue”, which will allow them to receive timely profit and ensure a return of money .

It is traditionally customary to classify a loan according to several basic features (Appendix 1). The most important of these include the category of lender and borrower, as well as the form in which a particular loan is provided. Based on this, the following six fairly independent forms of credit should be distinguished, each of which, in turn, is divided into several varieties according to more detailed classification parameters.

Bank loan

A bank loan is one of the most common forms of credit relations in the economy, the object of which is the process of transferring funds to a loan. A bank loan is provided exclusively by financial institutions that have a license to carry out such operations from the Central Bank. Legal entities act as a borrower, the instrument of credit relations is a loan agreement. The bank receives income from this form of loan in the form of loan interest or bank interest.

A bank loan is classified according to a number of criteria:

1. By maturity:

Short-term loans are provided to fill the temporary shortage of the borrower's own working capital. Up to a year. The interest rate on these loans is inversely proportional to the repayment period of the loan. Short-term credit serves the sphere of circulation.

Medium-term loans are provided for a period of one to three years for production and commercial purposes.

Long-term loans are used for investment purposes. They serve the movement of fixed assets, differing in large volumes of transferred credit resources. They are used for crediting reconstruction, technical re-equipment, new construction at enterprises of all spheres of activity. Long-term loans received special development in capital construction, fuel and energy complex. Average term repayments from 3 to 5 years.

On-call loans that are repayable within a fixed period of time after formal notice from the lender (no maturity date originally specified).

2. By means of repayment:

Loans repaid in a lump sum by the borrower. This is the traditional form of repayment of short-term loans, which is optimal, because does not require the use of a differentiated interest mechanism.

Loans repaid in installments over the entire term of the loan agreement. Specific conditions returns are determined by the contract. Always used for long-term loans.

3. According to the methods of collecting loan interest:

Loans, the interest on which is paid at the time of its total repayment.

Loans, the interest on which is paid in equal installments by the borrower during the entire term of the loan agreement.

Loans, the interest on which is withheld by the bank at the time of the direct issuance of the loan to the borrower.

4. According to the methods of granting a loan:.

Compensatory loans directed to the current account of the borrower to compensate the latter for his own expenses, incl. advance character.

Paid loans. In this case, loans are received directly to pay for settlement and monetary documents presented to the borrower for repayment.

5. By lending methods:

One-time loans provided on time and for the amount stipulated in the agreement concluded by the parties.

A credit line is a legal obligation of the bank to the borrower to provide him with loans within a certain period of time within the agreed limit.

Credit lines are:

• · Revolving - this is a firm obligation of the bank to issue a loan to a client who is experiencing a temporary shortage of working capital. The borrower, having repaid part of the loan, can expect to receive a new loan within the established limit and the term of the agreement.
• a seasonal credit line is provided by the bank if the company periodically needs working capital associated with seasonal cyclicality or the need for the formation of stocks in the warehouse.

Overdraft is short term loan, which is provided by debiting funds from the client's account, in excess of the account balance. As a result, a debit balance is formed on the client's account. An overdraft is a negative balance on a client's current account. An overdraft may be permitted, i.e. previously agreed with the bank and unauthorized, when the client issues a check or payment document without having the bank's permission to do so. Overdraft interest is calculated daily on the outstanding balance, and the client pays only for the amounts actually used by him

6. By types of interest rates:

Loans with a fixed interest rate, which is set for the entire period of the loan and is not subject to revision. In this case, the borrower assumes the obligation to pay interest at a constant agreed rate for using the loan, regardless of changes in the market conditions for interest rates. Fixed interest rates apply for short-term loans.

floating interest rates. These are rates that are constantly changing depending on the situation in the credit and financial markets.

Stepped. These interest rates are reviewed periodically. Used during periods of high inflation.

7. By the number of loans:

Loans provided by one bank.

Syndicated loans provided by two or more lenders, united in a syndicate, to one borrower.

Parallel loans, in this case, each bank negotiates with the client separately, and then, after agreeing with the borrower on the terms of the transaction, a general agreement is concluded.

8. Availability of collateral:

Trust loans, the only form of security for the return of which is a loan agreement. This type of loan does not have specific collateral and is therefore provided, as a rule, to first-class creditworthiness customers with whom the bank has long-term ties and has no claims on previously issued loans.

Contract credit. A checking loan is issued using a checking account, which is opened to customers with whom the bank has a long-term relationship of trust, companies with an exceptionally high credit reputation.

Pledge agreement. Pledge of property (movable and immovable) means that the creditor-mortgagee has the right to sell this property if the obligation secured by the pledge is not fulfilled. The pledge must ensure not only the repayment of the loan, but also the payment of the appropriate interest and penalties under the contract provided for in case of non-performance.

Surety agreement. Under this agreement, the guarantor is obliged to the creditor of another person (borrower, debtor) to be responsible for the fulfillment by the latter of his obligation. The borrower and the guarantor are liable to the creditor as solidary debtors.

Guarantee. This is a special type of surety agreement to secure an obligation between legal entities. Any financially stable legal entity can be a guarantor.

Credit risk insurance. An enterprise-borrower concludes an insurance contract with an insurance company, which provides that in case of failure to repay the loan within the established period, the insurer pays to the bank that issued the loan compensation in the amount of 50 to 90% of the loan amount not repaid by the borrower, including interest for using the loan.

9. Purpose of the loan:

General loans used by the borrower at its own discretion to meet any need for financial resources. In modern conditions, they have limited use in the field of short-term lending; they are practically not used in medium and long-term lending.

Targeted loans that imply the need for the borrower to use the resources allocated by the bank solely for solving the problems defined by the terms of the loan agreement (for example, paying for purchased goods, paying wages personnel, capital development, etc.). Violation of these obligations, as already noted in this chapter, entails the application to the borrower of the sanctions established by the agreement in the form of early withdrawal of the loan or an increase in the interest rate.

Agricultural loans are one of the most common types of credit operations that determined the emergence of specialized credit organizations - agricultural banks. Their characteristic feature is a clearly pronounced seasonal character, due to the specifics of agricultural production. At present, in Russia, these credit operations are carried out mainly through state loans due to the extremely difficult financial condition the majority of borrowers are traditional agrarian structures for a planned economy, which are practically not adaptable to the requirements of a market economy.

Commercial loans provided to business entities operating in the field of trade and services. Basically, they are of an urgent nature, satisfying the need for borrowed resources in the part not covered by a commercial loan. They make up the bulk of credit operations of Russian banks.

Loans to intermediaries on the stock exchange provided by banks to brokerage, brokerage and dealer firms engaged in operations for the purchase and sale of securities. A characteristic feature of these loans in foreign and Russian practice is the initial focus on servicing not investment, but gaming (speculative) operations in the stock market.

Mortgage loans to property owners, provided by both conventional and specialized mortgage banks. In modern foreign practice, they are so widespread that in some sources they stand out as an independent form of credit. In domestic conditions, they began to receive limited distribution only since 1994, which is associated with the incompleteness of the privatization process and the lack of legislative acts that clearly define the ownership of the main types of real estate (primarily land).

Interbank loans - one of the most common forms of economic interaction of credit institutions. The current rate on interbank loans is the most important factor determining the accounting policy of a particular commercial bank for other types of loans issued by them. The specific value of this rate directly depends on central bank, which is an active participant and direct coordinator of the interbank credit market. The lack of effective planning for such operations in August 1995 caused a crisis in interbank payments that engulfed the entire credit system of Russia.

credit system- this is a set of financial institutions that perform specific functions for the accumulation and distribution of funds.

All institutions included in it can be divided into three groups:

central bank;

commercial banks;

specialized lending institutions.

Central and commercial banks together form the country's banking system. It is she who performs the main credit and financial services for economic turnover.

A special place in the credit system is occupied by the central bank, which regulates the activities of the entire monetary system of the country. In most countries (Germany, France) central banks are public institutions, in some countries (USA, Switzerland), they are organized as joint stock companies.

The credit system also includes non-banking institutions involved in lending operations:

Insurance companies;

pension funds.

Your free cash they use mainly to finance the state, business through the purchase of long-term bonds or shares.

The Republic of Belarus has a two-tier banking system. Its creation was initiated by the Laws “On the National Bank of the Republic of Belarus”, “On Banks and Banking Activities in the Republic of Belarus”, adopted in 1990.

The need for credit relations in a market economy is due to the fact that some households and other economic entities have temporarily free cash, commodity resources, while other participants in market relations are in dire need of them. Therefore, some can lend them, while others can borrow. The system of economic relations that arise in the process of granting a loan in cash or in kind by one legal (or individual) person - the lender to another person - the borrower on the terms of repayment and, as a rule, payment, is called credit.

The loan comes in several forms, which differ in the composition of loans and borrowers.

The main forms of credit:

commercial;

bank;

state;

consumer;

international;

leasing-credit.

Lending principles

The main principles of lending include:

urgency and return;

target character;

material security, payment.

Urgency and return means that the loan provided to the borrower must be repaid within the period specified in the loan agreement.

target character loan, its purpose is determined, first of all, by the borrower, however, when allocating a loan, the bank also proceeds from its purpose, from a specific lending object, from a specific project. Compliance with the principle of targeted direction of the loan ensures its repayment in deadlines, since these terms are designed to perform certain business operations.

Principle material security lending means that the borrower must implement the financed project, purchase those inventory items or pay the costs for which the loan was issued. However, in practice, often at the time of granting a loan, it is not opposed by specific inventory items, costs. Such loans, for example, are issued against future costs for the production of products, the development of commercial activities, entrepreneurship, etc. Here, a pledge of property, a guarantee, a surety, an insurance certificate of liability insurance for non-repayment of loans, etc. can be accepted as security for the repayment of loans.

Credit functions

In modern conditions, the loan performs two main functions:

redistributive;

the function of replacing cash with credit operations.

The purpose of the loan in the redistributive function is that with its help, temporarily free funds in cash or commodity form belonging to one economic entity are transferred for temporary use to other economic entities on the terms of repayment, urgency and, as a rule, payment.

The purpose of a loan in the function of replacing cash with credit operations is to create means of payment on its basis, the use of which leads to savings in distribution costs. This function is associated with the specifics of the modern organization of money circulation, i.e. the predominance of non-cash forms of payment. Credit is provided mainly through banks. Placing and storing money in a bank, the client thereby enters into a credit relationship with him and, in addition, creates conditions for replacing cash in circulation with credit operations in the form of bank account entries. It becomes possible to carry out non-cash payments and provide loans in a non-cash manner.

Loan types

We will consider only the main types of loans provided by banks.

The main types of bank loans are as follows:

consumer credit

car loan

Educational loan

Real estate loan, mortgage

Overdraft

Small business loan.

consumer credit- this is a loan that is provided directly to private individuals (households). The objects of credit in this case are goods that are purchased by private individual, that is, consumer goals. Such goods can be household appliances, tools, furniture, etc. This type of loan is characterized by high interest rates and low amounts provided as a loan to the borrower.

car loan- this is a loan that is provided to both individuals and legal entities directly for the purchase of automotive equipment. The objects of lending in this case are automotive equipment. This type of loan is characterized by lower interest rates and higher amounts provided as a loan to the borrower than with a consumer loan. Recently, the decrease in the interest rate has been accompanied by the state, which assumes the obligation to pay off a certain agreed percentage in the event that the purchased vehicles are of domestic production. Thus, the state supports domestic producers, which contributes favorably to the economic growth of the state itself.

Educational loan is a loan that is provided directly to private individuals for education. The objects of lending in this case are tuition fees for individuals in an educational institution on a non-budgetary basis (school, institute, university, college and other educational institutions). This type of loan is characterized by even lower interest rates. Usually the surcharge is carried out by the state.

Mortgage is a loan that is provided to both individuals and legal entities directly for the purchase of real estate. The objects of lending in this case are real estate. This type of loan is characterized by the lowest interest rates, higher amounts and a longer loan period provided as a loan to the borrower than other types of loans. This type of loan is the most reliable.

Overdraft- this is a loan that is provided by a bank to pay for settlement documents in case of insufficient or absent funds in the borrower's current account. In this case, the bank debits the funds from the borrower's current account in full, that is, automatically provides the borrower with a loan in an amount exceeding the balance of funds. The repayment of the overdraft is the funds received on the account of the borrower.

Small business loans. This type of loan is provided to both legal entities and private entrepreneurs directly for various purposes, such as the purchase of equipment, payment of wages to employees, and so on. The objects of lending in this case are the needs of the business. This type of loan is characterized by high amounts of lending provided as a loan to the borrower. This type of loan is a really effective method of improving the economy as a whole.

All of the above types of loans are, in our opinion, the main ones for the current period of time. Each credit organization reserves the right to classify the loan it provides, so there can be as many types of loans as you like. Types of loans appear more and more with time. So this process depends on technological progress and human development directly. At the moment, we consider those types of loans the most relevant, which are classified above.

A task

The table provides data on workforce and employment.

Calculate the number of unemployed and the unemployment rate:

How does GDP lag behind if the country's natural unemployment rate is 5%?

The solution of the problem:

The number of unemployed is calculated by excluding the number of employed persons from the labor force.

B = 868849 - 807960 = 60889

The unemployment rate is the ratio of the number of unemployed to the labor force, expressed as a percentage.

Unemployment rate =

Y \u003d 60889 * 100 / 868849 \u003d 7%

When solving the problem, the unemployment rate was 7%. And natural is - 5%. So 2% increase in unemployment is above its natural rate.

In lawOkena: every 1% increase in unemployment above its natural rate leads to a lag in GDP by 2.5%.

Thus, the volume of GDP in the country lags behind by 5%.

Let's figure out what loans are and when it is better to issue them. Seeking to expand target audience and meet all the needs of borrowers, banks offer. The client has the opportunity to choose a program for any request and for different purposes. To do right choice, we recommend that you familiarize yourself with the classification of banking products, study their features, advantages and disadvantages.

1. Purpose loans

As part of directed lending, the bank issues money for a specific, pre-agreed purchase.

As a rule, the client does not receive money in his hands, the bank transfers it directly to the seller.

Purpose loans include:

• car loan;
• a loan for holidays or for specific goods in partner stores.

Services involve compulsory insurance of the acquired property. An apartment or a car taken on credit is pledged to the bank until the debt is fully repaid.

2. Non-targeted consumer loans

In this case, the bank does not care what needs the client spends the funds on, the main thing is that he makes timely payments on account of the debt.

Approved funds are transferred to the card or at the cash desk. The borrower is not required to report on the expenditure of borrowed money.

The conditions of non-targeted programs are slightly worse than those of targeted loans. Interest rates, depending on the bank, range from 15-40% per annum.

3. With collateral

When making a loan, the borrower provides the lender with collateral in the form of property:

• commercial or residential real estate: house, apartment, room, warehouse;
• automobile;
• securities;
• precious metals.

Mandatory stage of registration - expert review property. The expert evaluates the market characteristics of the object and determines the value of the collateral.

As a rule, the size of the loan does not exceed 75-85% of the real value of the property.

Loans with collateral have a number of advantages:

• favorable interest rates;
• big limit;
• high probability of approval.

The bank has the right to sell the collateral if the borrower has not made the next payment or has not repaid the debt in full.

4. Loan with a guarantee

A guarantee is an obligation of a third party to repay a debt to a bank if the borrower fails to do so.

This type of collateral increases the likelihood of approval and allows you to get a loan at a low interest rate.

The guarantor is subject to standard requirements:

• age from 21 to 65 years;
• registration on the territory of the Russian Federation;
• official income;
• permanent employment (work experience of at least 6 months).

5. Lending with risk insurance

Insurance services are offered for each product. For example, with a mortgage, the client insures real estate, draws up a CASCO policy for a car loan. A consumer loan can be used to take out job loss or health insurance. In this case, insurance serves as a guarantor for the bank and reduces the risk of refusal.

Do not want to overpay, but without insurance they do not give? Register with her, get a better rate, and then get your money back. This can be done within 14 days from the date of signing the agreement with the bank and receiving cash.

6. Types by return period

Depending on the term, banking products are divided into:

• Short term- term of use up to 1 year. Issued for the current urgent needs of the borrower. Here is the list.
• medium-term- with a period of 1 to 5 years. Often such loans are issued for repairs, training, car purchases, etc. Issued at any bank, so just look.
• - from 5 to 30 years. Such loans are provided with the lowest interest rate. They are mainly used to buy real estate. Review .

7. Types of commercial lending

• Overdraft. It is a credit line with a certain limit, the size of which depends on the account turnover.
• commercial mortgage. Target Loan for Acquisition commercial real estate - office space or warehouse.
• Business Development Loan. Some banks create special programs for start-up individual entrepreneurs.

8. By form of financing

• Credit cards. The product is convenient for cashless payments in stores, making purchases via the Internet, etc. Cards with a grace period (interest-free use) are especially popular. Here are free ones, with cashback and a big grace period.
• Installment plan. It is issued in partner stores for the purchase of a specific product or service. There is no interest rate on installments, but the seller often compensates for this by increasing the cost of the goods. You can open it once and use it in any stores, buying now and paying within a year.
• Commodity credit. Unlike an installment loan, a POS loan involves the accrual of an interest rate. The commission on this product is higher than on standard consumer loans. We advise you to read to figure out when which one is more profitable.

9. For debt repayment

There are currently two repayment schemes in use:

• Annuity. The debt is repaid in fixed payments over the entire period of use.
• Differentiated. Assumes a gradual reduction in monthly payments. Interest is charged on the remaining amount of the debt.

It follows from the above that for each parameter there are several types of products. The lending market is developing steadily, new programs are being developed, customers have more opportunities to receive financial assistance at favorable rates.

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