In modern models developed market economy Monetary System occupies an important position in the economic mechanism.It is a practical system of economic circulation, which regulates the money supply, control financial flows, accumulates and redistributes cash conducts settlements between economic entities, loans to individuals and certain sectors of the economy.
There are two concepts of the monetary system: the first is a set of credit relations, methods and forms of financing (functional form);the second - a set of financial institutions, which tend to accumulate cash temporarily available funds and then lend (institutional form).
In the first case we are talking about such a relationship as the banking, commercial, government, consumer, international credit.
second case reduces to the following parameters.Modern Monetary System - a complex mechanism that has several levels, which accumulates and redistributes financial assets.The main parts of the system are: Central Bank, the system of government and quasi-banks;the banking sector, which include commercial banks, savings, specialized banks Retailing;mortgage loans, investment, specialized credit and financial non-bank institutions: pension funds, insurance companies and investment orientation, financial companies, various savings and loan associations, charitable foundations.
This three-tiered scheme inherent in most developed countries (US, Japan, Western Europe).Individual countries differ in the degree of development of individual parts of the system.The most advanced of the monetary and credit system in the United States, in connection with which it is guided by the developed countries in the formation of their own credit systems.
state regulates monetary system two basic ways: through direct administrative intervention (by establishing stiff price rationing of goods, etc.) and indirect administrative intervention (the conduct of monetary policy).
So it becomes obvious that the monetary and credit system designed to meet the needs of the state economy in the distribution of available cash and cash overflow in the most advanced and promising industry.In some entities periodically have temporarily free funds (surplus cash), and others - the need for additional funds.This contradiction is successfully resolves the monetary and credit system of the country.
Monetary System RF shows three tiers: the Central Bank;banking system (banks of a commercial nature);specialized credit and financial institutions.This structure clearly reflects the needs of the economy, it is close to the model credit systems in developed countries and begin to adapt to the new processes of economic realities.
Such a credit system still has some shortcomings in almost all levels (increasing the number of small banks, companies insurance, investment funds, and commercial banks continue to specialize in short-term credit, which leads to insufficient redirection of funds to the development of industrialand other sectors of the economy. That is why today is still quite many aspects of the credit system of the Russian Federation require further improvement. Efficient functioning of the monetary system is designed to provide a stable state of the national economy.
Russia's banking system has two levels, represented by the Central Bank of the Russian Federation (Bank of Russia)and commercial banks.
