The term "credit system" is consideredexperts from several points of view. On the one hand, it includes all credit institutions of different levels involved in the provision of certain banking services. On the other hand, this is a set of rules and principles on the basis of which the entire banking system functions.
Currently, the credit system is practicallyAll countries include three main levels. The first level is occupied by the central or national bank of the country. It performs the function of control over the other levels, in addition, such a bank has the right to issue cash. And this means that he is responsible for regulating the money supply into circulation. The Central Bank of the country performs one of the most important functions: it is engaged in the storage of foreign exchange reserves. In some cases, it provides loans to government agencies or lower-level commercial banks, and also places government securities. The credit system is designed in such a way that the national bank and the state act together to achieve the same goals, but they do not affect each other’s interests. For example, the country's main bank implements the tasks developed by the government and specified in the monetary policy of the state.
The second level of the credit system belongsaggregate commercial banks. The main purpose of their activities is profit in the maximum amount. This is also their main difference from the central bank, since its functions are in regulation and control. Commercial lending institutions form the basis of the entire banking system, since they act as intermediaries between the population and the state. According to economic theory, the bank in the full sense of the word can be considered only the organization that performs three main operations: deposit, settlement, credit. The Central Bank, at its discretion, decides whether to issue a license to a specific bank. And without a license, the latter does not have the right to carry out its activities, that is, any operations will be declared invalid and illegal.
The credit system of the Russian Federation assumes the presence ofthe third level, which includes specialized financial institutions. As a rule, these are organizations that have received the right to offer certain types of operations, but cannot be called a bank in the full sense of the word. These institutions include pension funds, insurance and leasing companies, investment and savings organizations. Thus, the basis of their activities include separate banking services. For example, savings organizations are usually created by banks as a separate entity in order to accumulate funds of the population and further redistribute them in the form of loans and loans issued on a short-term basis. Pension funds can be considered a type of long-term loan, since they accumulate funds for a long time with the condition of periodic payments in the future. But until the deadline has come, you can dispose of the invested amounts at your own discretion, for example, by providing loans.
This division into levels allows you to streamlineexisting financial institutions, which greatly facilitates the process of control over them. However, not all countries have a financial and credit system divided into three main levels. Some prefer to single out only the first two, depending on the degree of development of the economy of a country. In addition, the system of each country has its own characteristics. For example, in the USA there is a state division into separate states, and each state has its own central bank. Thus, the credit system of America at the first level includes 12 national banks.
