Military Review

Central Bank is looking for additional levers of economic regulation

Central Bank is looking for additional levers of economic regulationCredit operations today are used for a variety of purposes. Individuals take loans from banks to improve their housing conditions, repair, buy cars, legal entities often have to borrow to stay afloat in a period of financial difficulties. Today credit application can be considered within just a few hours, which increases the overall efficiency of financial institutions and enables customers to more quickly cope with their tasks.
15 July The Central Bank, recently headed by Elvira Nabiullina, will make a final decision on the minimum interest rate for the annual loans that are provided by non-marketable assets. This interest rate is expected to be 5,75% per annum. After the introduction of this minimum barrier, the Central Bank receives additional levers of financial regulation.
Against the background of the fact that the Bank of Russia conducts a policy of injecting into the economy not only short-term funds to maintain it, but also long-term injections designed for good controllability over a long period of time, news The introduction of a minimum rate on loans with non-market security suggests that the Central Bank is going to increase its ability to level out potentially dangerous crisis phenomena.
Under non-market assets are understood credit rights, promissory notes, traded on exchanges. Today, more than half of total bank debt to the Central Bank of the Russian Federation - these are the very non-market assets. Entering the minimum interest rate on loans secured by the non-market component, among other things, avoiding risks when working with those financial organizations that are created with the goal of transforming themselves into bankrupts after a while. Non-market assets add opportunities to the Central Bank to attract so-called long-term money, whose work can have a beneficial effect on the growth of the country's economy.
Against the background of such news, the ruble has somewhat strengthened its position. However, leading economists argue that today's ruble price remains somewhat too high, and that the Bank of Russia could easily bring this price to 34-35 rubles per dollar, which would only benefit the development of competitiveness of the Russian financial and production system. An example of China, where the yuan is in no hurry to raise against the dollar, can be taken into account.
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  1. Andrey_K
    Andrey_K 15 July 2013 12: 42
    However, leading economists argue that the current price of the ruble remains somewhat overstated, and that the Bank of the Russian Federation could easily bring this price to 34-35 rubles per dollar, which would only benefit the development of the competitiveness of the Russian financial and production system.

    The problem of all economies is to lower or raise the exchange rate?
    For foreign trade, it is beneficial to omit, but then the capitals and savings of the population depreciate and the ability of foreigners to buy local real estate and enterprises increases.
    What to do?
    What if you enter two currencies?
    One for savings, another for everyday expenses and salaries.
    The second currency will constantly depreciate in inflation, while the first, on the contrary, will grow.
    But, someone will say that the first currency will supplant the second in circulation.
    Watching how to crank everything.
    For example, the first currency could be ... gold!
    At one time, the USSR introduced the chervonets and received the same two currencies.
    If you put gold coins into circulation and oblige the banks to not very much raise interest on the exchange, then it is quite possible to make a second currency out of gold.
    A simple person will not be able to save a lot in gold - he will have to buy an apartment, a car, household appliances - in short, not save money but spend it.
    And the exchange of gold for rubles will still not be very profitable, i.e. it will be profitable to have deposits less than two years in rubles (and even ruble interest may be beneficial, and gold may be absent).
    And the gold ruble can be used for the second function of money - the accumulation of capital, without their relative depreciation (from world currencies) or even a slight increase.