Umqondo "uhlelo yasebhange": ukushintsha Ithuba

Ngeshwa, umqondo izinhlelo zamabhange ngu inertia siqhubeke correlate nge iminotho iyaguquka. Akunjalo elula. ukuzinza kwangaphandle, mhlawumbe, kukhona isimiso sezinga ezimbili ukwakhiwa yayo (umsebenzi ilayisensi ngamabhange 'kulawulwa Central Bank) kuphela. Okuqukethwe uhlelo lokusebenza efanayo, kuhlanganise umsebenzi 112 lamabhange ngobukhulu letindzala, manje simi embundwini kabusha abalulekile.

Naphezu izibikezelo okungekuhle for 2013, ezihlobene ukwehla uboleka amavolumu, ngenkuthalo ekuthuthukiseni isu entsha. Ngakho-ke, umqondo wegama elithi "uhlelo yasebhange" namuhla owujami. Ingabe ukushintsha amathuluzi ayo. Imodeli ushintsho uye ukhathele uqobo. Uhlelo yasebhange njengendlela wengxenye ye emnothweni kazwelonke, waqhubeka umugqa ekulinganiseni umnotho. Lokhu kusho isitatimende esemthethweni sempumelelo yezwe lethu engxenyeni yokuqala ka-2007, izinga kwezomnotho ka 1990

Ngesikhathi sigaba okwamanje, kuba nesithunywa sevangeli akunika zezimali kulo lonke emkhakheni wezimboni. Isidingo uguqule umqondo futhi izakhi izinhlelo zamabhange isobala. ukulingana izimali e ubuchwepheshe ezintsha, eziyingxenye esemqoka mission social lamabhange. Kuyakhuthaza bona izinyathelo ezingokoqobo kulesi siqondiso sezivele zenziwe. Ukunqoba "umjikelezo omubi" izindlela eqinile nakho ngeke kusize yemali, nokukhawulela production ezifuywayo, ukushintsha inqubomgomo yemali. Umqondo "uhlelo yasebhange" maduze ukushintshwa indlela entsha "core izinga" ingxenye 5.5% namuhla. Ukuze uqhathanise, yokusebenza refinansirovniya izinga - 8,25%. Izindlela zika nokuxhumana izinga entsha emnothweni kazwelonke isakhiwa.

Ngesikhathi esifanayo sibona "deliberizatsii" t. E. Ukwandisa isimo ukuhileleka komkhakha wamabhange. Ubufakazi balokhu - ukuvela amabhange kamasipala.

ukuthuthukiswa olungenzeka lokuma izinhlelo zamabhange akuleli zingakhiqiza kwamabhange China. Nathi eduze le oyisibonelo sifana quota yebhange enhloko-dolobha yesifundazwe-elawulwa - ngu-60%. Nansi incazelo esobala. Ukuze kuvinjwe le nkinga esibhekene nayo ethathwa njengongqondongqondo kwezomnotho okusalele emuva funa isipiliyoni Umane ka zenzalo, amanani aphansi sokubolekwayo, 'soft' isiqondiso yemali. China Imiphumela obucacile: nezinga lokukhula ukuba 2006 - 9.5%, ngisho manje, phakathi inhlekelele yembulunga yonke, "esibhakabhakeni-okusezingeni eliphezulu" ibhizinisi Western - 8%. Olwesimanje welithi "uhlelo yasebhange" omakhelwane bethu empumalanga kusekelwe ezimisweni ezimbili. Okokuqala, kahle ichazwe futhi wakhetha engxenyeni kahulumeni uhlelo yasebhange. Kusekelwe 4 isimo amabhange (Bank of China, Industrial and Commercial, Ukwakhiwa Bank, Agricultural Bank). Okwesibili, "imakethe" izakhi zalo, akuyona "eyakhelwe amanxiwa" umphakathi nokuzwana wadala ngaphezu kuqala. Futhi kudingeka siyinake hhayi "intuthuko", kanye nokufukula yokuziphendukela kwemvelo izikhungo emakethe.

Kuyaphawuleka ukuthi njengamanje ibhange elikhulu nohlobo Russian iqala imelele isikhundla ezakhayo isimo maqondana nokukhishwa dolobha yaseRussia.

It lizwakalise isidingo Debug esobala futhi kuyaqondakala lwemali isiqondiso. Umuntu kumelwe amane bakhumbula "kungazelelwe ukubonwa" eziphumayo Sergeem Ignatevym emthethweni outflow capital ngonyaka odlule esibalelwa 48-49 bln. Dollars. Kabili lemali (kulinganiselwa ukuthi amaphoyisa aqapha-Interpol) uyazifihla "zamanani" izikimu outflow ukuthekelisa ungenise!

ukunakwa okuningi badonsekela umsebenzi "namadodakazi" amabhange angaphandle. Ukuvuselelwa umthengi credit ngonyaka odlule - elementi yabo. I-quota capital angaphandle ngaphansi kwezimo emakethe evumayo rose ngo-Ephreli ka-2012 kuya ku-31%!

Iqiniso lokuthi "amabhange angaphandle" ukusiza isimo, ukukhonza nokusakazwa imali, akungabazeki. Nokho, inkulumo ethi "ndodakazi" lanamuhla ngempela ezethembekile yizona ababoleka net emakethe Russian, ukuze ngixazulule inkinga yokuntuleka kwezinto "zohlobo" lomzali yabo izakhiwo Western, inkanuko outflow capital ngokusebenzisa uwukuboleka non-izakhamizi. Njengoba ubona, welithi "uhlelo yasebhange" is angahluleli ngendlela eqondile le outflow.

Zonke izici ngaphezu "indiza" capital imemezele ngokusemthethweni Yiqiniso, akulona ize. Kusobala ukuthi ne kokuphela kwesikhathi zesikhashana kanye kumiswa abalingiswa abayinhloko kule emakethe umane "kusho ukuthi sekuyisikhathi sokuba" ukubhekana sina lokhu igebe. Nokho, sonke siyazi ukuthi kuye kwavula lokhu kahle. Eyayenziwe wenza "ngesandla esindayo" izinguquko Navy umthetho federal lwemali isiqondiso empeleni ngivula emakethe yethu lwemali befisa futhi likwazi ukuboshwa nokuqaqwa ezandleni dolobha lobugebengu.

Yokuphetha, siphawula ukuthi inkampani amathemba ephezulu izinguquko izinhlelo zamabhange akuleli.