BFL - shi ... OFZ: definition, kasuwar rates

Rasha ma'aikatar kudi ta siyasa ne don kara tsawon lokaci na rance aro kudi. The ayyuka na jihar na'ura da nufin fadada jerin kudi kida ta wajen wanda da wajen samo aka gudanar. Kamar yadda wani ɓangare na wannan manufar, a 1995, a cikin watan Yuni, shi ya faru OFZ. Wannan tarayya rance shaidu, amma tare da wani m coupon.

Mene ne BFL?

Tarayya, rance shaidu, ko OFZ - shi ne daya daga cikin iri na Securities a Rasha, wanda aka bayar ta ma'aikatar kudi. A gaskiya ma, shaidu da wata misali format, sun ƙunshi kawai a gaskiya cewa AMINCI na yau da bayar da jihar kanta. kadara cinikayya da aka gudanar a kan Moscow stock musayar. sayan shaidu iya yinsu ta hanyar wani dillali. Saya da kuma store OFZ shaidu ne Rasha mazauna, da kuma kasashen waje jama'a. Price da daya bond ne 1000 rubles. Dangane da girman da takarda ne m da ta amfanin ƙasa, m da zamani ajiya shirye-shirye. Babban manufar wadannan Securities ne don jawo hankalin babban birnin kasar zuwa cikin kasar ta kasafin kudin.

A na gaba mataki na ci gaba da kasuwar

A Rasha OFZ kulla na musamman tare da ma'aikatar kudi. A gaskiya, wannan bond, wani babban mataki ne na aminci wadda tabbatar da Rasha jihar. Cinikai OFZ da aka gudanar a cikin tsarin na Moscow stock musayar. Kadarorin za a iya saya, ta hanyar wani dillali. Saye da kambun da OFZ na iya zama duka Rasha da kuma kasashen waje doka abokai da kuma mutane. Per bond saye ba 1000 rubles. Amfanin ƙasa ciniki kayan aiki daidai da yawan amfanin ƙasa na banki ajiya. Batun sabunta shaidu a 1995 alama mataki na kasuwar ci gaba, a lokacin da shi ne da shirin karban bashi kida tare da wani tsawon lokaci na fiye da shekara guda. Masu tayi ma sun sami kwarewa domin ta yi aiki da sabon nagartaccen kayan aikin. Dokokin da fasaha tushe da aka shirya sosai da sauri. A cikin fasaha bangare na jeri na shaidu, su dabam dabam da kuma fansa ne irin matakai da hannu a T-takardar kudi.

Jarin da m coupon samun kudin shiga irin

BFL - wannan shi ne daya daga cikin iri na Securities da suke samuwa a cikin da dama Formats. Popular takarda tare da wani ba a sani ba irin m coupon (OFZ-PK). Takardu ba su masu lokacin da ya dace don samun riba da kudin shiga daga lokaci zuwa lokaci. Frequency na biya iya zama biyu ko sau hudu a wannan shekarar. A size of kowane daga cikin BFL-PC takardun shaida da aka karanta nan da nan kafin a fara lokaci na coupon, shi ya dogara da yanzu GKO saki cewa ne kusan m takardun shaida biyan bashin lokaci. A yarda kafin su sami rangwame, idan tarayya rance shaidu (OFZ) ne da kudin jeri a cikin primary ko sakandare kasuwar, kasa da kudin da biya, ciki har da a fuska darajar. BFL - ne Securities tare da wani par darajar 1,000 rubles, da inganci na shekara 1 zuwa 5 shekaru.

OFZ-PD, OFZ-FD da OFZ-AD: janar ra'ayi

OFZ-AD, PD da OFZ OFZ-PD - ne shaidu cewa an classified a matsayin Securities tare da wasu coupon riba. Girma Securities sanar da issuer kafin ranar da batun da su da kambun suna da hakkin su sami yau da kullum amfani da kudin shiga. Kamar baya category na shaidu, ya shafi samun wani rangwame a kan m sharuddan. Dangane da kadara type, lokacin da magani iya bambanta daga shekara 1 zuwa 30 shekaru. Maras muhimmanci, fãce OFZ-FD ne daidai da 1000 rubles. Domin PD denomination iya bambanta daga 10 zuwa 1000 rubles. watsi ne shirin form. Adanar jarida kadara ne kafin domin ta biya a nan gaba.

saki Karin bayanai

Ga kowane batu na shaidu ne halin da gaban da jihar rajista code, wanda shi ne irin wannan a cikin tsarin da code na T-takardar kudi. The kawai togiya ne na biyu lambar, na nuna da irin tsaro. Kowace fitowa na OFZ amfanin ƙasa wanda yayi dace da mafi yawan ajiya shirye-shirye, tare da sakin wani duniya takardar shaidar ƙaddamar a biyu kofe, wanda aka adana a cikin ajẽwa na ma'aikatar kudi. Coupon samun kudin shiga - shi ne babban bambanci daga GKO shaidu.

OFZ kasuwar tare da wani iyo coupon rate

OFZ jeri na iyo kudi a kan Rasha kasuwar jari ya shaida na fadada ikon yinsa, daga cikin bashin da m sha'awa kudi. A nasara mai tushe daga gaskiya cewa duk shaidu na da irin wannan a cikin duniya samar da wata damar rage sha'awa kudi hadarin, wanda yana iya zama saboda gagarumin hawa da sauka a cikin sha'awa rates, hankula ga dogon lokacin da zuba jari. Rage da alama na zuba jari hasarori, wanda ya ji tsõron su karuwa, kuma da borrower wanda ba ya so a rage su.

A duniya a 1996 shaidu da wani m kudi shagaltar game da 46% na kasuwar. A Rasha, da shahararsa ta OFZ-PD ne na girma. Wannan ya nuna cewa kasuwar shi ne batun da muhimman hakkokin canje-canje. Coupon samun kudin shiga zama bayyananne ba kawai a lokacin biya, amma kuma a kammala da kwangiloli a sakandare kasuwar. By shiga cikin ma'amala, da mai saye dole ba ne kawai biya fuskar darajar da bond, dole ne ya biya coupon amfanin ƙasa, abin da ya kamata ta dace da wurin zama lokaci na kadara daga sayarwa. Kamar yadda da dukan Securities, OFZ-PK aka kallafa maka daidai da dokokin.

Sa hannu na waje masu zuba jari a cikin bond kasuwa

GKO-OFZ kasuwar ne bude wa kasashen waje masu zuba jari. A shugabannin da ma'aikatar kudi da kuma wakilan Babban Bankin ya karu da yiwuwa na yammacin kapitalovkladchikov a cikin shugabanci na zuba jari a gida Securities. The m kashi ga kasashen waje kasuwa mahalarta ne m ga dalilin cewa sayan Securities, da inganci na wanda ya wuce shekara guda, riqe da wasu alkawari. Saboda haka, lissafi na samu dukiya za a iya za'ayi a rubles, da kuma kai tsaye daga asusun jarin. Yana yana buɗewa da yiwuwar domin kara hira da ruble albashi a kasashen waje ago tare da gyara na riba, bi da bi. GKO-OFZ - babban damar cikakken sarrafa kasada a zuba jari fayil. A mataki na samuwar da kasuwar dillalai da kuma zuba jari don samar da ikon ba kawai tabbas amma kuma arbitrage ma'amaloli.

Rate bond kasuwa

OFZ kasuwar rates suna gyarawa da kuma m. Dindindin ko gyarawa rates aka kafa domin kowane coupon lokaci kowane mutum batun. M kudi da aka kafa bisa hukuma data kwatanta kudi na kumbura. OFZ kudi dogara sun fi mayar a kan da key kudi na babban bankin. Bambanci tsakanin Figures ne kawai 'yan maki. Bayan da spring na rage kudaden kasa 13%, kasuwa mahalarta ci gaba da sa ran wani ƙi. Wannan ne evidenced da low bukatar bashin. Saboda haka, a cikin Afrilu ajiya gwanjo ga Naira Miliyan 110 biliyan rubles a cikin kudi na 12.5% ya iya saukar da duk 75 biliyan a wani kudi na 13.02%. Amma shaidu, da kasuwar ya kafa ta amfanin ƙasa na 10,72%. A bukatar shi ne sau uku fi yadda samuwa wadata. Ba Povljana a kan halin da ake ciki an rufe shi da kudi tashoshi na sadarwa a sakamakon takunkumin da kasashen Turai. Yammacin zuba jari sha'awar kudi, ci gaba da rayayye shiga a cikin gwanjo.

Mene ne tsare-tsaren da gwamnatin Rasha?

Domin gwamnatin Rasha OFZ kasuwar - wannan shi ne babban damar don rufe rance da kasafin kudin gaira. Yana da aka shirya don en Securities a cikin adadin 250 biliyan rubles, tare da net girma na janye na 112 biliyan rubles. Ya zuwa yanzu, tun farkon na shekara ta an riga an gane a cikin adadin 93,3 biliyan rubles na shaidu da wani net girma na janyo hankalin zuwa debe 12.9 biliyan rubles. Daga cikin kiyasta girma na yau da dukiya da biliyan 150 rubles zai kasance har zuwa shekaru biyar, biliyan 80 rubles da aka shirya don saki da takarda tare da wani ajali na 5 zuwa shekaru 10. A total na biliyan 20 rubles za a bayar Securities, tare da juyawa ga fiye da shekaru 10. Mafi yawa daga cikin Securities a nan gaba zai zama wani iyo kudi. A cewar masana, Maris shaidu bayar da Babban Bankin na Rasha Federation, sun ma overpriced, kuma a wannan batun, duk masu tayi da ake sa ran rage darajar da karshen spring. The rinjaye matsa lamba a kan shaidu ci gaba da weakening ruble.