scholarly journals Subordination of financial infrastructure levels and tools of the banking segment

2020 ◽  
Vol 2020 (8) ◽  
pp. 103-123
Author(s):  
Anatolii DROBIAZKO ◽  
Keyword(s):  
Banking System ◽  
Financial Flows ◽  
Economic Agents ◽  
Social Sphere ◽  
National Economic ◽  
Financial Infrastructure ◽  
Reproduction Process ◽  
Economic Reality ◽  
General Business ◽  
The Right

The financial system as a set of norms and rules of any type of economy is one of the main elements of ensuring a continuous reproduction process and purposeful development of all its industries and social sphere, and therefore a key link in shaping the country's security. In countries with centralized and command management, most of the market components of the financial infrastructure were not involved, the latter was leading only in the control of resource use, while banks played an important role in regulating the money circulation of economic agents. The modern rather extensive and multidisciplinary banking system, which operates at the sovereign as well as at the supranational levels, takes care of the financial flows of all market counterparties. Beings responsible for the mobilization and placement of part of the temporarily free funds, this established institution guarantees each client the right to own its assets, contributes to the positive dynamics of sectoral and general business activity of households, enterprises and the state. Manifestations of imbalances in contract activities lead to the demonetization of the economy, the decline in confidence in the national currency, the outflow of resources into the shadow sector, negatively affecting the development of the country. The article substantiates the directions of improving the theoretical and practical principles of anti-crisis regulation of financial relations in all dimensions of the global and national economic space, which is extremely relevant in the new economic reality.

Forming an effective financial and investment environment in the eu countries-experience for Ukraine

2019 ◽  
pp. 4-13
Author(s):  
Ryzhyuk Yevgeny
Keyword(s):  
Banking System ◽  
Executive Branch ◽  
Investment Environment ◽  
Financial Investment ◽  
Eu Countries ◽  
Currency Exchange ◽  
Clearing System ◽  
Financial Infrastructure ◽  
Supranational Level ◽  
The Eu

The subject of the research is a set of institutional institutions and organizational and managerial relations that effectively regulate the financial and investment environment in the EU countries, comparing them with Ukrainian realities.The goal of writing this article is to develop practical and scientific-methodicalrecommendations on how to increase the efficiency of using financial and investment potential based on the experience of EU countries. The methodology of thework-system-structural and comparative studies (to understand the logic of thefunctioning of institutions that form the investment environment and the mechanisms of their interaction); monographic analysis (in studying the problems ofattracting investors); historical and economic analysis (in assessing the state andprospects of the European, as well as the Ukrainian economy). Results of work -it is revealed that modern European regulators are aimed at forming a holisticinvestment and financial infrastructure and investment platform at the supranational level. It was proposed to carry out further liberalization of currency regulation in Ukraine in order to transform it into a convenient and efficient electronicautomated currency exchange system and introduce the integration of the domestic depository system into the international depositary clearing system Clearstream.It was noted that the financial and investment environment in Ukraine is blockedand domestic monopolies are interested in this, thanks to lobbying in the Verkhovna Rada of Ukraine and in the executive branch they have distorted financial,investment and currency legislation for their interests and needs. Conclusions-thepresence of a holistic investment and financial infrastructure in the EU countriesis due to the gradual convergence and unification of legislation at the nationallevel to the supranational level. In addition, it is reasonably high investment positions of Ireland in the world and it was proposed to use this experience to createa favorable financial and investment environment in Ukraine. Note that the formation of the financial and investment environment in Ukraine according to European standards is hampered by: oligarchic monopolies, which parasitizes mainly onnatural monopolies; government corruption; confusing and incomprehensible legislation for investors; high tax rates and tax administration system; instability ofthe banking system, the risks of hryvnia devaluation; the insecurity of landagrarian relations; as well as armed conflict in the east of Ukraine.

Kajian Yuridis Pengesampingan Pasal 1266 dan Pasal 1267 Kitab Undang -Undang Hukum Perdata sebagai Syarat Batal dalam Perjanjian Kredit Perbankan

2017 ◽  
pp. 65-89
Author(s):  
Rocky Marciano Ambar ◽  
Budi Santoso ◽  
Hanif Nur Widhiyanti
Keyword(s):  
Research Method ◽  
Code Of Ethics ◽  
Civil Law ◽  
Banking System ◽  
Civil Code ◽  
Bank Credit ◽  
Dominant Position ◽  
Legal Implications ◽  
Credit Agreement ◽  
The Right

Banks in credit agreements use more standard agreements, standard contracts in 2 (two) things, (1) There is an unbalanced position between banks and debtors, banks that have a more dominant position and debtors. (2) There is an understanding of the principle of freedom of contracting and without limits. The Bank has the freedom to seek the form and content of the agreement. Code of Ethics in agreement. The provisions of the Civil Code provide types of compensation for parties. Based on the background, then for problems the problem is written (1). Does the inclusion of Article 1266 and Article 1267 of the Civil Code on the banking system have collected the principles of balance and justice. (2) What are the legal implications of the exclusion clause. The research method is normative juridical research. The result of this research is the neglect of civil law and the principle of compensation is the principle of balance. The basic principle according to Rawls is that it is unfair or more people. in the sense of "freedom of results", in other words. is the nature of the debtor in a bank credit agreement. For the legal implications of the clause that excludes Article 1266 and Article 1267 of the Civil Code concerning the right of the debtor to the debtor. Legal efforts in finding and resolving problems that cannot be made by a decision due to the imbalance of the parties in the agreement. For people who make changes, no party will be harmed.

Non-banking financial intermediation and phenomena of shadow money in modern economy

2021 ◽  
Vol 27 (8) ◽  
pp. 1694-1709
Author(s):  
Vladimir K. BURLACHKOV
Keyword(s):  
Commercial Banks ◽  
Financial Intermediation ◽  
Banking System ◽  
Banking Regulation ◽  
Developed Countries ◽  
Bank Credit ◽  
Shadow Banking ◽  
Economic Agents ◽  
Shadow Banking System ◽  
Lending Activity

Subject. The article addresses the non-banking financial intermediation (shadow banking system) as it is successfully expanding nowadays both in developed countries and emerging economics. Objectives. The study aims at conducting a comprehensive analysis of the specifics of non-banking financial intermediation, revealing its impact on economic agents’ activities, causes and consequences, and elaborating the methodological framework for effectiveness of modern monetary policy. Methods. I employ methods of scientific abstraction, induction, deduction, synthesis, and comparative analysis. Results. In the modern national economy, along with the money, created by the central bank and commercial banks, there are highly liquid financial instruments called shadow money. The scope of its application is shadow banking (financial intermediation) outside the banking system. The use of shadow money is caused by high demand for credit resources. Conclusions. The high activity of shadow banking and increased turnover of shadow money resulted from a transfer to Basel standards of banking regulation in the 1990s, which affected the lending activity of commercial banks. Under these conditions, the demand for loans provided by non-bank credit and financial institutions increased. The market of non-bank credit products was formed. However, the process of lending in the shadow banking is associated with high risks and non-stability of shadow money, widely used in this sphere.

John Stuart Mill‘s Liberal Reformism and the New Concept of Freedom, Property and Government

Diogenes ◽  
2021 ◽  
Vol 29 (2) ◽  
Author(s):  
Nikolay Alexandrov ◽  
◽  
◽  
Keyword(s):  
Industrial Revolution ◽  
Modern Times ◽  
Classical Liberal ◽  
Individualism And Collectivism ◽  
Liberal Ideology ◽  
History Of ◽  
Economic Reality ◽  
Social Liberalism ◽  
The Right ◽  
The Masses

The article is devoted to a key moment in the history of British liberalism when, under the influence of the Industrial Revolution, the need arose for a revision of classical liberal teaching. On the border between classical and social liberalism stands the figure of the British philosopher and economist John Stuart Mill who attempted to update the basic tenets of liberal ideology. Taking into account the socio-economic reality of his time, he set out to revise the foundations of liberal ideology, rethinking in modern times the problems of freedom, property and governance by expanding their perimeter in favour of the masses. This article also details Stuart Mill’s concept of individualism and collectivism in the context of freedom and the right to self-determination.

scholarly journals CENTRAL BANK DIGITAL CURRENCY: ECONOMIC AND LEGAL CHARACTERISTICS

2019 ◽  
pp. 94-100
Author(s):  
T.S. Hudima ◽  
V.A. Ustymenko
Keyword(s):  
Monetary Policy ◽  
Central Bank ◽  
Financial Stability ◽  
Banking System ◽  
Legal Framework ◽  
Central Banks ◽  
Digital Currency ◽  
Business Entities ◽  
The Right ◽  
Article 5

The article is devoted to identifying the peculiarities of the central bank digital currency (CBDC), explaining their impact on the monetary policy of the state, and identifying the prospects for the transformation of domestic banking legislation in connection with the implementation of the CBDC. It is noted that the scope of competence of the Central Bank and the legal basis for the issuance of the CBDC will depend on the economic and legal features of the digital currency, the degree of its impact on the monetary policy, the financial stability of the country’s economy and so on. In the process of forming the appropriate legal field and defining the conceptual apparatus in the sphere of emission and circulation of the CBDC, the peculiarities of the use of the latter in economic transactions and the specific functions not inherent in ordinary means of payment should be taken. СBDC initiatives will help: 1) progressively narrow the banking system at the level of the Central Banks (such as the Chicago Plan) by allowing individuals and businesses to deposit directly into the accounts of the Central Banks; 2) increasing confidence of economic entities and individuals in the financial system; 3) strengthening the financial stability of the economy (both domestically and globally). Granting business entities or individuals the right to store digital money directly with the Central Bank can give rise to two main directions of influence on monetary policy: first, to strengthen its transmission mechanism; secondly, lead to banks being disrupted. This may lead to some legal issues regarding (1) the NBU’s area of competence; (2) the constitutional foundations of the legal economic order (Article 5 of the ECU). In particular, it cannot be ruled out that centralization of the production, servicing, and management of the СBDC turnover may violate the principles of competition in business activities, prevent abuse of monopoly position in the market, etc. Keywords: monetary policy, central bank digital currency, financial stability, competence, legal framework, economic operations, issue.

scholarly journals Choosing the Right Systems Integration

2014 ◽  
Vol 22 (35) ◽  
pp. 23-30 ◽  
Author(s):  
Matúš Péči ◽  
Pavel Važan
Keyword(s):  
Main Part ◽  
Systems Integration ◽  
Practical Experience ◽  
Financial Flows ◽  
The Future ◽  
Four Levels ◽  
The Right ◽  
A Company ◽  
Levels Of Integration ◽  
Levels Of Control

Abstract The paper examines systems integration and its main levels at higher levels of control. At present, the systems integration is one of the main aspects participating in the consolidation processes and financial flows of a company. Systems Integration is a complicated emotionconsuming process and it is often a problem to choose the right approach and level of integration. The research focused on four levels of integration, while each of them is characterized by specific conditions. At each level, there is a summary of recommendations and practical experience. The paper also discusses systems integration between the information and MES levels. The main part includes user-level integration where we describe an example of such integration. Finally, we list recommendations and also possible predictions of the systems integration as one of the important factors in the future.

scholarly journals Kajian Yuridis Pengesampingan Pasal 1266 dan Pasal 1267 Kitab Undang-Undang Hukum Perdata Sebagai Syarat Batal Dalam Perjanjian Kredit Perbankan

2018 ◽  
Vol 3 (1) ◽  
pp. 70
Author(s):  
Rocky Marciano Ambar ◽  
Budi Santoso ◽  
Hanif Nur Widhiyanti
Keyword(s):  
Banking System ◽  
Civil Code ◽  
Legal Rights ◽  
Economic Gain ◽  
Dominant Position ◽  
Freedom Of Contract ◽  
Principle Of Justice ◽  
Credit Agreement ◽  
The Right ◽  
Banking Credit

Banks in the redit agreement use more standardized credit agreements, the use of standard contracts in the banking credit agreement is based on 2 (two) things, (1) The existence of unbalanced position (berganing position) between banks and the debtor, the bank has a more dominant position than the debtor. (2) There is an understanding of the principle of freedom of contract absolutely and indefinitely so that the bank has absolute freedom to determine the form and content of the agreement. So banks can freely to determine the form and contents of the agreement included in the clause of the terms of void wanprestasi arranged to include mengesaampinkan Article 1266 and Article 1267 Civil Code in the agreement. Whereas the provision of Article 1266 of the Civil Code provides that in the event that the revocation of the treaty must be requested by the court and the judge through the decision of the court may determine the types of compensation for the parties. Based on the background, then as for the formulation of the problem of writing is (1). Whether the inclusion of clause 1266 and Article 1267 of the Civil Code in the credit agreement of the banking system has fulfilled the principle of equilibrium and justice. (2) What is the juridical implication of the inclusion of clauses which exclude Article 1266 and Article 1267 of the Civil Code in the credit agreement pertaining to the debtor's right in the process of settling the interpretation as a condition of cancellation of the agreement. The research method used is normative juridical research. The result of this research is the waiver of Article 1266 and Article 1267 of the Civil Code which regulates the waiprestasi void in the agreement and the types of indemnity is contrary to the principle of fairness and the principle of equilibrium. The principle of justice according to Rawls is that it is unfair to sacrifice the right of one or more persons only for the sake of greater economic gain and even justice must be understood as fairness, in the sense of "equality of positions and rights" not in the sense of "commonality of results" people, in other words justice as intended is justice that provides a guarantee of equality and rights between the bank as a creditor with the customer as a debtor in the credit agreement of the bank. As for the juridical implication of the inclusion of clauses that exclude Article 1266 and Article 1267 of the Civil Code of credit agreement relating to the debtor's right in the process of settling the interpretation as a condition is to remove the legal rights as well as the debtor's legal efforts in seeking justice and the equilibrium position which is not dominant by the decision maker due to the unbounded imbalance of the parties to the agreement. The act of wanprestation brings consequences to the adversity of the disadvantaged party to prosecute the defendant to indemnify, so that by law it is expected that none of the parties will be harmed by the default.

scholarly journals FEATURES OF LOGISTICS OF THE TERTIARY SECTOR OF ECONOMICS

2017 ◽  
pp. 132-136
Author(s):  
Elvira Revovna Arslanova ◽  
Olga Nikolaevna Lipatova ◽  
Elina Victorovna Polyanskaya
Keyword(s):  
Business Processes ◽  
Relevant Information ◽  
Financial Information ◽  
Economic Systems ◽  
Material Transport ◽  
Tertiary Sector ◽  
Financial Flows ◽  
Efficient Management ◽  
Tourism Product ◽  
National Economic

The tertiary sector of economics in the current economic environment ranks first in the national economic systems by the number of the employed population. At the same time the rapidly changing market environment requires new tools for efficient management of business processes. In this regard, the logistics tools enabling optimization of material, transport, financial flows is a factor increasing activity of economic entities. Studying the possibility of applying logistics principles to the flows organization in tourism has led to the conclusion about expediency of application of logistics tools in activity of service rendering enterprises, subject to specific features of services as commodity items. Studying the possibility of applying logistics principles to the flows organization in tourism has led to the conclusion about expediency of application of logistics tools in activity of service rendering enterprises, subject to specific features of services as commodity items, and helped to determine tourism logistics as a type of business which involves planning, managing and controlling the flows (material, service, financial, information, etc.) in the process of formation of the tour, bringing the tourism product to the consumer, as well as storage, transmission and processing of relevant information.

scholarly journals Digitalization of Payment Systems in Ukraine

2020 ◽  
Vol 8 (5) ◽  
pp. 4590-4596
Keyword(s):  
Service Providers ◽  
Banking System ◽  
Payment System ◽  
Security Level ◽  
Payment Systems ◽  
Theoretical Understanding ◽  
Basis Expansion ◽  
Methodical Approach ◽  
Financial Infrastructure ◽  
National Bank

The world is changing due to technological innovations that are reflected in both the customers’ needs and the payment systems themselves. Payment systems that operate on the territory of Ukraine have certain properties, which the potential client draws attention to when choosing one of them. Let's conduct complex research and we will propose solutions of a relevant scientific task which consists of the development of theoretical and methodological foundations, methodological approaches and practical recommendations on the implementation and improvement of the functioning of payment systems in Ukraine in the light of world experience. Modern payment systems are one of most the important and fundamental parts of Ukraine`s financial infrastructure. The article offers a theoretical understanding of the payment system and considers the peculiarities of the payment systems functioning in Ukraine at the present stage. The payment systems market and its structure are presented in details. Payments and transfers number are highlighted. The statistics on illegal payment card transactions are reviewed. The payment systems of the leading European countries are characterized. The prospects of the National Bank of Ukraine with the largest European payment systems are described. On a basis expansion of the structure of criteria of the importance of payment service providers and accounting of the presence of crucial participants in payment service providers is developed a methodical approach to the assessment of the priority of payment service providers. The practical value of the received results consists in their use for the development of normative legal acts of the National Bank of Ukraine, the safety of payment service provider of Ukraine regulating an order. Measures to increase payment system`s security level in Ukraine are outlined. For the banking system of Ukraine, European experience in the field of payment systems is very important, as today the concept of borders is quite conventional when it comes to payment services. In this regard, determining the priority of payment systems that operate in Ukraine is of particular importance, which determines the relevance of the chosen topic.

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