THE ORIGIN OF FINANCE TOOL FUNCTIONS: COMPULSORY RESERVES
The article deals with investigation of an unusual phenomenon, i. e. the origin of compulsory reserve functions as a multifunctional finance tool. Compulsory reserves (compulsory reserve requirements – norms of compulsory reserves) as a finance tool in disclosing its functional idea reveal their cha...
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| Format: | Article |
| Language: | Russian |
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Plekhanov Russian University of Economics
2018-03-01
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| Series: | Вестник Российского экономического университета имени Г. В. Плеханова |
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| Online Access: | https://vest.rea.ru/jour/article/view/457 |
| _version_ | 1797696566174154752 |
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| author | Tatiana S. Novashina |
| author_facet | Tatiana S. Novashina |
| author_sort | Tatiana S. Novashina |
| collection | DOAJ |
| description | The article deals with investigation of an unusual phenomenon, i. e. the origin of compulsory reserve functions as a multifunctional finance tool. Compulsory reserves (compulsory reserve requirements – norms of compulsory reserves) as a finance tool in disclosing its functional idea reveal their character not only in the traditional function, as a tool that regulates liquidity of the banking system but also as a tool possessing specific multifunctional nature, which allows the central banks by ensuring stability of banking organizations (key components of the banking system) functioning to guarantee stability of the banking system as a whole. The article shows this specific multifunctional character through mechanisms of averaging. Proceeding from the analysis of averaging mechanism functioning, a conclusion can be made about extending the functional set of compulsory reserves as an effective finance tool. It was pointed out that each of the mentioned functions can be presented by more local functions making up system integrity. Local functions are identified with due regard to diverse interests of the parties participating in the process of compulsory reserving. It was shown that the buffer function of the interest rate is displayed into local functions: the function of regulating rate volatility on money market and the function of regulating the value of loan funds. The author thinks that function localization possesses not only scientific value (in view of disclosing the mechanism of more effective use of this finance tool) but also a certain applied value, as it allows us to reveal real economic interests of each party and therefore, to use more efficiently the found advantages of this finance tool. |
| first_indexed | 2024-03-12T03:28:13Z |
| format | Article |
| id | doaj.art-bc7bf60fd323466d8251832231564441 |
| institution | Directory Open Access Journal |
| issn | 2413-2829 2587-9251 |
| language | Russian |
| last_indexed | 2024-03-12T03:28:13Z |
| publishDate | 2018-03-01 |
| publisher | Plekhanov Russian University of Economics |
| record_format | Article |
| series | Вестник Российского экономического университета имени Г. В. Плеханова |
| spelling | doaj.art-bc7bf60fd323466d82518322315644412023-09-03T13:30:07ZrusPlekhanov Russian University of EconomicsВестник Российского экономического университета имени Г. В. Плеханова2413-28292587-92512018-03-0102475610.21686/2413-2829-2018-2-47-56442THE ORIGIN OF FINANCE TOOL FUNCTIONS: COMPULSORY RESERVESTatiana S. Novashina0Московский государственный институт международных отношений (университет) Министерства иностранных дел Российской Федерации; Национальный Фонд Управления Активами (Фонд будущих поколений)The article deals with investigation of an unusual phenomenon, i. e. the origin of compulsory reserve functions as a multifunctional finance tool. Compulsory reserves (compulsory reserve requirements – norms of compulsory reserves) as a finance tool in disclosing its functional idea reveal their character not only in the traditional function, as a tool that regulates liquidity of the banking system but also as a tool possessing specific multifunctional nature, which allows the central banks by ensuring stability of banking organizations (key components of the banking system) functioning to guarantee stability of the banking system as a whole. The article shows this specific multifunctional character through mechanisms of averaging. Proceeding from the analysis of averaging mechanism functioning, a conclusion can be made about extending the functional set of compulsory reserves as an effective finance tool. It was pointed out that each of the mentioned functions can be presented by more local functions making up system integrity. Local functions are identified with due regard to diverse interests of the parties participating in the process of compulsory reserving. It was shown that the buffer function of the interest rate is displayed into local functions: the function of regulating rate volatility on money market and the function of regulating the value of loan funds. The author thinks that function localization possesses not only scientific value (in view of disclosing the mechanism of more effective use of this finance tool) but also a certain applied value, as it allows us to reveal real economic interests of each party and therefore, to use more efficiently the found advantages of this finance tool.https://vest.rea.ru/jour/article/view/457локальная функциямеханизм усреднениямногофункциональность финансового инструментанорма резервированияобязательные резервные требованияфункции обязательных резервовфункция буфера процентной ставкифункция регулирования волатильности ставок на денежном рынкефункция регулирования потоков капиталафункция регулирования стоимости заемных средствфункция регулирования текущей ликвидности банковэффект абсолютной ликвидностиэффект «ликвидной ловушки» |
| spellingShingle | Tatiana S. Novashina THE ORIGIN OF FINANCE TOOL FUNCTIONS: COMPULSORY RESERVES Вестник Российского экономического университета имени Г. В. Плеханова локальная функция механизм усреднения многофункциональность финансового инструмента норма резервирования обязательные резервные требования функции обязательных резервов функция буфера процентной ставки функция регулирования волатильности ставок на денежном рынке функция регулирования потоков капитала функция регулирования стоимости заемных средств функция регулирования текущей ликвидности банков эффект абсолютной ликвидности эффект «ликвидной ловушки» |
| title | THE ORIGIN OF FINANCE TOOL FUNCTIONS: COMPULSORY RESERVES |
| title_full | THE ORIGIN OF FINANCE TOOL FUNCTIONS: COMPULSORY RESERVES |
| title_fullStr | THE ORIGIN OF FINANCE TOOL FUNCTIONS: COMPULSORY RESERVES |
| title_full_unstemmed | THE ORIGIN OF FINANCE TOOL FUNCTIONS: COMPULSORY RESERVES |
| title_short | THE ORIGIN OF FINANCE TOOL FUNCTIONS: COMPULSORY RESERVES |
| title_sort | origin of finance tool functions compulsory reserves |
| topic | локальная функция механизм усреднения многофункциональность финансового инструмента норма резервирования обязательные резервные требования функции обязательных резервов функция буфера процентной ставки функция регулирования волатильности ставок на денежном рынке функция регулирования потоков капитала функция регулирования стоимости заемных средств функция регулирования текущей ликвидности банков эффект абсолютной ликвидности эффект «ликвидной ловушки» |
| url | https://vest.rea.ru/jour/article/view/457 |
| work_keys_str_mv | AT tatianasnovashina theoriginoffinancetoolfunctionscompulsoryreserves AT tatianasnovashina originoffinancetoolfunctionscompulsoryreserves |