Credit considered an integral part of the modern world, as for the purchase of expensive goods here and now most people can not do without a loan.Indeed, the purchase of major items in the duty on a daily basis is found in our country.It so happened that the standard of living is not high enough, so let me, for example, to buy a car is possible only with the help of loans.
not surprising that every day there are more specialized agencies.Before recklessly borrow money, you should learn more about those, what are credit institutions and what are their views.Any such institution is registered in a special state organs as a legal entity specific organizational and legal form.The main objective shall be considered to maximize profits at the expense of the spread of certain banking products.Authorizing documents indicating the list of possible operations to be performed by the organization is a license.Provided it is the Central Bank of the country, and responds only if announced bankruptcy of credit institutions.
is worth noting that according to the canons of existing law, such institutions should not engage in business activities related to trade, production and insurance of citizens.Among the variety of isolated credit institutions and non-banking.The first type includes only those institutions that specialize in providing the three main types of operations:
- deposit (accumulation of funds from the population and use them as resources for loans);
- credit (borrowing the required amount of money to the client);
- settlement (transfer amounts from the customer's current account to the account of the recipient).
Moreover, each type of these transactions the bank is benefiting.But the largest share of revenue accounted for loans and borrowings, because of the use of temporary free funds the client is obliged to pay the interest amount.
At its core, all credit institutions are the intermediaries between the economic operators, as they accumulate finances from investors, that is, entrepreneurs who want to invest the available resources and redistribute them to needy companies.Non-bank institutions are concentrated on the implementation of specific operations.For this type include pension funds, brokerages and insurance companies, pawn shops and so on.
Accounting in credit institutions is carried out with special attention, because all their activities connected with money, and thus depends on their account the stability and reliability of a particular company.The Government also monitors the clarity and accuracy of the information presented in the financial statements.For this purpose, a compulsory annual audit by a third party.
