Theme 6. Concept, essence, functions and a credit role

The competence to be formed:ОК-6;ОК-7;ОК-8;ОК-13;ОК-14;PK-6;PK-8;PK-9

Results of development:

To know:

1) the credit Theory: forms and categories of credit, functions and a credit role etc.;

2) the Theory of loan percent;

Be able:

1) to Use the terminology which is providing guidance on various aspects of functioning of the credit and the nature of loan percent;

2) to state an estimation of conditions of occurrence of the credit and loan percent.

Possess:

1) Principles of classification of kinds and credit forms;

2) Principles of an estimation of the factors influencing size and character of loan percent.

Educational methods

Lectures – 2 hours

Practical training – 6 hours

Independent work of students – 6 hours

Forms of current control - Poll, the decision of problems, testing

The credit as an economic category.Temporarily free money resources and factors of their occurrence. Three forms of the industrial capital and concept of its circulation. Process of reproduction and its stage. Occurrence of the credit since a distribution stage. The loan as a way of the organization of credit relations. Creditors and borrowers as the parties of credit relations. Intermediaries. Guarantors. Credit resources. The loan capital. The basic sources of the loan capital. The historical predecessor of the loan capital – the usurious capital. Occurrence and history of evolution of usury. Progressiveness and conservatism of the usurious credit. Occurrence of modern forms of the credit.

Forms and categories of credit.Monetary and commodity forms of the credit. Classification of categories of credit on: to groups of borrowers, subjects of creditors, appointment (a target orientation), the sizes, maintenance, repayment terms, ways of granting, ways of repayment, kinds of interest rates, currency of granting of the credit, number of creditors, participants of credit relations. The commercial credit: concept, features, specificity, the granting form, tools (commercial bills). Restrictions on commercial crediting. The bank credit. The intercompany and interbank credit. Consumer and a mortgage loan. The state credit. The international credit and its subspecies.

Functions and a credit role. Crediting principles.Redistributive and control function. Function of economy of distribution costs. Function of acceleration of concentration of the capital. A credit role in market economy. Maintenance of transformation of temporarily free money resources in the loan capital. Overcoming of limitation of the individual capital. Maintenance of a continuity of reproduction as a whole. Capitalization of profit and concentration of manufacture. Influence on volume and structure of monetary weight in circulation, a payment turn and speed of the reference of money. Increase of a role of the credit in development of the Russian economy. Crediting principles: a reflexivity, promptness, security, target use and the differentiated character of crediting.

Loan percent. Percent as the form of the price of the goods – the credit (a principle платности crediting). Economic sense of percent. Plurality of interest rates in market economy. Credit rates. Depositary rates. Refinancing rates. Division of rates on terms, a role and structure (base and minor), to scopes of application. Nominal and real rates. Inflation and real interest rates. Base interest rates – LIBOR, LIBID. Rates on a class of borrowers. Ratings of borrowers. Prime-rate (base or standard). The effective interest rate. Fixed and floating rates of interest. Charge of simple and difficult percent. An order of charge and payment of percent in the Russian Federation.

The factors defining level of interest rates. Supply and demand of the loan capital. The equilibrium rate of percent. Equilibrium volume of the credit. A competition between creditors and borrowers, transboundary movings of capitals, a rate of inflation and its dynamics, a taxation mode to different sectors of economy and a privilege for buyers of securities, factors of risks, a state monetary and credit policy, a condition of the budget of the state and its stabilization, savings and reserve funds. A role of loan percent in a complex of anti-recessionary measures.

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