The term "issue" originated from the French word émission, which means "release". Indeed, issuance is a procedure performed by the issuer to issue securities and banknotes.
Issued banknotes are not provided with gold.
In Russia, the ruble is the only legal means by which payments are made.
Issue, organization of circulation, withdrawal of money supply is carried out only by the Bank of Russia.
The decision to issue, handle and withdraw money in Russia is taken exclusively by the Board of Directors of the Bank of Russia.
Old banknotes can be exchanged for new ones without a limit on the amount. Such an exchange of money can not last less than 1 year or more than 5 years.
Non-cash issue is the creation by banksdeposits and credit lines. This type of money supply can be dealt with not only by the Central Bank, but also by commercial banks. They can increase the volume of issued loans, if their deposit accounts and reserves are constantly growing. Such a process of creating non-cash money is called credit multiplication. In terms of its volumes, non-cash emission considerably exceeds the issue of cash banknotes.
Abroad emission is a process of releasemoney supply by central banks and the treasury. Banks create non-cash funds - banknotes. Treasuries are busy issuing coins and treasury notes.
Issuers can place their securities of valuepaper (all shares, one-off bonds, financial bills) in the stock markets. Emission is a complex and expensive process. Therefore, the reasons for increasing the number of these documents should be very significant. The main objectives of the issue may be:
Securities are created when the joint-stock company is formed to create the authorized capital.
Increase of the authorized capital of the OJSC, attraction of borrowed or unincorporated investors.
Reorganization of an open joint-stock company or its creation from several legal entities.
Splitting or consolidation of already placed securities.
Decisions on the issue are madeissuer on the basis of analysis of the stock market conjuncture. The attractiveness of investing funds is assessed. The cost of the event is calculated, whether this issue is profitable. Determination of the volume of issued securities, the form, par value and their number are necessary for these calculations.
После принятия решения фирма-эмитент регистрирует paper in state bodies at the place of carrying out activities. The organization presents copies of the constituent documents, an application for registration of an established sample, a decision to conduct an issue. The registration authorities may, as necessary, request emission prospectuses, the executive branch's decision to issue valuable documents.
Placement of equity securities begins after 2weeks after the announcement of their release and lasts no more than a year. Information on the value of a block of shares or bonds is disclosed on the day of the commencement of their circulation. Results on the sale of equity securities are published in the media. A month after the end of the procedure, a report on the results of the event is submitted to the registration body.
