Concept of the monetary market
In the
financial market there are only those money resources which act in
the form of the capital. But not any sum of money is represented the
capital. Money are transformed to the capital at presence of the
following conditions:
- First, it
should be temporarily free money resources which go for needs of
consumption;
- Second,
it should be the means potentially included in an economic
revolution, capable to ensure the income for originally enclosed sum.
The
monetary market is included all set of streams of money resources of
the country.
In the
countries with the advanced monetary sphere the basic part of the
monetary market is made with sector of short-term securities. Here
wholesale trade in standardized financial tools such, as bills,
depositary certificates, bank bills, future contracts is carried out.
In the countries where the sector of short-term securities is
advanced to a lesser degree, in structure of the monetary market the
share of the interbank credit market prevails. The main property of
tools of the monetary market is the high degree of liquidity, that is
abilities quickly to turn to money.
The
monetary market includes registration, interbank and the currency
markets. Other kinds of securities, which main characteristic carry
to the registration market - high liquidity and mobility on what the
basic tools are exchequer and commercial bills.
The
interbank market - a part of the financial market where temporarily
free monetary resources of credit establishments are involved and
placed by banks among themselves in the form of interbank deposits
for short terms.
The
currency market - the official center where sale and purchase of
currencies is made on the basis of a supply and demand. The currency
markets serve the international payment revolution connected to
payment monetary obligations of legal and physical persons of the
different countries. Specificity of international payments consists
in absence of the payment means standard for all countries. Therefore
a necessary condition of calculations on foreign trade, interstate
payments is exchange on another in the form of purchase or sale of a
foreign currency by the payer or the addressee.
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