Securities market.
The stock market is a sensitive barometer of the economic situation. Now the main goals on the Russian securities market are the goals of formation and consolidation of property relations, and the main participants of this market are commercial banks.
The participants of the Russian securities market have a common task of making a profit. It is under the influence of the sources and conditions under which it is formed that the structure of the domestic stock market is formed, one of the distinguishing features of which is a significant predominance of government securities. Besides, it is quite typical for the domestic stock market and that the main part of securities passes only a stage of primary placement, almost without appealing in the secondary market.
Securities make up on average 15% of the banking system assets. Five large groups of securities can be distinguished: government securities, bonds (corporate, regional and municipal), shares, bank promissory notes, and other promissory notes. There is no sense in singling out federal and municipal bonds into a separate group, as their volume is relatively small (less than 15% of all bonds purchased by banks), and in terms of circulation, yield and risk the are similar to corporate bonds. Bank promissory notes, on the contrary, should be singled out as a separate group due to their predominance in the structure of securities, greater liquidity, and lower risk.
RZB is a part of the financial market that provides the possibility to
Rapid and rapid financial transfers to different sectors
economic and investment promotion.
Functions of the RZB:
Regulate and channel financial flows
It is a mechanism for attracting investment, primarily through the purchase of corporate securities
It serves as a mechanism for attracting money to the state budget (mainly through government securities).
It is a mechanism of natural selection in the economy (in case of division of rights to the controlling interest).
There are 2 forms of primary GS:
private - placement of securities of a limited number of known investors without public offer and sale (prevailing in Russia)
Public offer - distribution of the company's securities among investors no more (placement of securities by announcing the sale is unlimited, to the number of investors)
Secondary market - a market where previously issued securities are traded
The secondary GS is divided into:
- stock exchange
- over-the-counter
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