Operation Repo - ntoni na? Repos kanye izibambiso yokubolekisa

Ifomati ziqhelekileyo kwaye ethandwa izibambiso kuqiniswe ngetyala okanye imali - ukuba imisebenzi repo. Yintoni na uzame ukuqonda ukusuka ekuqaleni. Kwesivumelwano sentengo (Izinga, REPO) i isivumelwano izibambiso ngokuboleka, kwaye aqinisekiswe mali. Le meko kufuneka zijikwe xa waba ngummeli wowona ulungileyo zokuboleka izibambiso senzo. izivumelwano uthenge kudla ngokubizwa ngokuba kwimvumelwano ukuthenga izibambiso. Isivumelwano ichaza izibophelelo malunga ngamnye amaqela Ukuthengiswa nokuthengwa.

uhlobo lokuthenga

Kukho izakhiwo ezimbini repos: phambili reverse. isivumelwano ngqo ichaza intengiso izibambiso iqela elinye ukuya kwelinye. Umfuziselo kuvunyelwene ukuba iqela lokuqala lokuthenga izibambiso yayo ngendlela ngexesha ngexabiso pre-wavuma. Lentlawulelo wenziwe ngeendleko samabanga aphezulu kakhulu. Ukwandiswa phakathi ixabiso yokuthengisa kunye nexabiso lentengo yempahla izibambiso libonisa inzuzo msebenzi. Oku kuboniswa njengepesenti ngamnye ngonyaka, kwaye ebizwa ngokuba lizinga lenzala. Eyona njongo iphambili izivumelwano ngqo kukutsala izibonelelo zemali.

repo Reverse ibandakanya yayikukufumana iphakheji amaxwebhu, kunye nokuzinikela ngokuthi intengiso umva wayo. Eyona njongo ephambili yale isivumelwano nokwabiwa kwezibonelelo zemali ezikhoyo okwethutyana.

Ubuncwane kwezoqoqosho intengiselwano

Sizoku lwisana ezinye zazo nezibambiso uhlala imisebenzi senzala yemali kakhulu ifuna. Yintoni na ukusuka kwindawo kwezoqoqosho lwembono, zako izicacele. Elinye icala ufumana ubuqabane nkohlakalo eziyimfuneko ukuze yayo izibonelelo zemali, le yesibini ishenxisa ngokupheleleyo ethile le izibambiso. Plus, kwelinye icala ufumana inzala ukusebenzisa ii-asethi zalo eziphathekayo okwethutyana. Intengiselwano kuba becala wenziwe nezibambiso zikarulumente kwaye ayipheleli udidi izivumelwano zexesha elifutshane. Isivumelwano olawula intsebenziswano ehlala iintsuku eziliqela iinyanga eziliqela. Ukuziqhelisa hlabathi, avamise isivumelwano diurnal. Phakathi umthengisi kunye umthengi ngokusebenzisa umthetheli ezi izibambiso zentengiselwano. Njengoko umntu wesithathu kwiimeko ezininzi ukhonza iziko zebhanki, ogama iimbopheleleko zicaciswa gca ngeenkcukacha kwisivumelwano. Le meko ifuna ukuvulwa akhawunti izibambiso kunye imali ebhankini nomlomo. An lungiselelo apho amaqela amathathu, lingaphantsi kuyingozi inxaxheba.

Lentlawulelo abolekise

Ukuba ukhangela repo ngokubanzi, oko kubizwa ngokuba loyamano ngetyala olubekwe yi impahla exabisekileyo. Umahluko kuphela kukuba ukugqithiselwa izibambiso kunye kokufunyanwa kweemali esandleni nalo luthi lubanjwe kwangelo xesha linye. transfer ekhawulezileyo kobunini ukusuka nxaxheba omnye komnye isivumelwano - le yenye inkalo ukuba unalo umsebenzi ukuthenga. Ntoni na, nokuba eneenkcukacha ngakumbi uzame ukuqonda amanqanaba ubambiswano.

Ukuthenga iqulathe izigaba ezibini:

• ukuthenga Primary okanye ukuthengiswa izibambiso.
• Qhagamshelana ukuthengwa okanye ukuthengiswa izibambiso.

Ezi nkcukacha yokuphumeza amanyathelo ekuvunyelwene

ixesha umahluko phakathi ukuphunyezwa inxalenye yokuqala neyesibini yesivumelwano ekubhekiselelwe nexesha ukuthenga. Ixesha phakathi zazo ngokuqhelekileyo kulinganiswa iintsuku kwikhalenda. Icountdown iqala imini emva komsebenzi ngamaqela yezibophelelo zabo kwaye iphela ngomhla wokuphunyezwa inxalenye yesibini sivumelwano. kwicala ngalinye uhlala indima nomthengi kwaye umthengisi. Kaninzi, umthengi wokuqala izibambiso akhankanywe otyalwayo, kwaye umthengisi lokuqala - umboleki. iintengiselwano Investment ngokhuselo ukuba umthengisi wokuqala ifomathi repo, umthengi ubona ukuphathwa ngendlela yezivumelwano ukuthenga umva. Securities efanele kwesivumelwano, obizwa ngokuba mhlawumbi asethi engaphantsi okanye izibambiso. iintengiselwano REPO ezinxulumene ilungiselelo ngetyala, inika izibambiso zixatyiswa kwesantya sentengo.

ubungozi contract

Umngcipheko - isakhi mandatory, ngaphandle apho akunakwenzeka akukho repos. Yintoni na kwaye yintoni iingozi uphawu lungiselelo? Makhe sihlolisise nganye nganye. Iingozi ephambili enxulumene nesibakala sokuba isigaba sesibini isivumelwano ayikwazi ukuba babulawe. Amathuba iphezulu ukuba lokuthenga othengisayo akayi kuba phezu ezandleni zabo izibambiso ezifanayo ixesha nemali iya kuba ebengekho umthengi. Uncedo kwiimeko ezinjalo kuba yimali, kunye nokubanjwa akhawunti. Njengoko kukho: ngenxa yeenguqu imeko lemarike amaqela angala nje ukuzalisekisa iimfanelo zabo ukusukela self-umdla.

Ukuncipha lokuthenga

Ukunciphisa umngcipheko engagqibekanga ye omnye amaqela ukuthenga nokuthengisa izibambiso kufuneka sikhatshwe ngala manqaku alandelayo:

• Kumaxabiso software.
• Izibophelelo kufuneka ukuba ahlolisise.
• Kwisithuba kubaluleke ngokwaneleyo ukubonelela ukulawula ngendlela.
• Ukongeza imajini (compensation) iintlawulo.

Isaphulelo ngokunxulumene repo lixabiso olwahlula ixabiso lemarike ukhuseleko ngokungqinelana ubungakanani izibophelelo ezikhoyo kwindawo ethile ngexesha yaye ngalo lonke ubomi yentsebenziswano.

Iintsiba isabelo REPO ezihloliweyo kuqwalaselwa ixabiso lokuqala isaphulelo, nto leyo elimiselwe isivumelwano phakathi kwamaqela ku yingisela. Iyafuna ukunikela ingqalelo oku kulandelayo:

• Ixabiso eliphezulu le-isaphulelo ziyanceda ezilungileyo kumthengi, lowo ufumana izandla zakhe phezu software ngexabiso eliphantsi.
• Inowuthi isaphulelo okokuqala, kokukhona iingenelo umthengisi Lowo usondeza software ngexabiso eliphezulu.

Kunokwenziwa isigqibo sokuba isaphulelo lokuqala ubonakalisa eyamkelekileyo nganye amaqela ubudlelwane lokuthenga ixabiso kunye neendleko izibophelelo yesondlo phantsi inxalenye yokuqala yesi sivumelwano.

Ukutshintsha ixabiso wammela repo

De kube mzuzu Ukuzaliseka inxalenye yokuqala yexabiso zithengwe elityala, kwiimeko ezininzi kuhlala ingatshintshanga. Utshintsho ukuba software kuphela, kwaye ke kancinane nje, ngenxa yokuba ixesha ukulibaziseka yokwenza imvumelwano ngeentsuku 1-3. Ngelo xesha linye ngexesha imisebenzi senzala yemali kunye isithuba seenyanga ezi-3 okanye ngaphezulu njengoko ixabiso ukuzibophelela kunye nokhuseleko ingahluka kakhulu. Uphuhliso iziganeko ziya kunokubethelela ezi zinto zilandelayo:

• Le Dynamics ixabiso lemarike.
• Revenue ukukhula REPO yingisela.
• Tshintsha kwi isaphulelo kuthelekiswa nexabiso layo lokuqala, nto leyo eya kubangela enye amaqela ukuba sithwalwe ilahleko eninzi.

Indlela sembuyekezo iintlawulo

Ukuphelisa le meko mhlawumbi yindlela imbuyekezo iintlawulo. Oku owenziwe kube sekuphelisweni kwisivumelwano amaxabiso isiphelo isaphulelo: kwelona qondo. Kulo lonke ixesha le senzala yemali ngaphakathi kwinkqubo yorhwebo MICEX i vandlakanyo lutsha imihla zamatyala kunye namaxabiso ukuqinisekisa umgangatho ezilawulwa nokwanela.

Ukuba iindleko zokusigcina iphantsi, kunye novavanyo lwayo lokuqala overpriced, omnye amaqela ukuphelisa ukulahleka iqela yesibini, kunyanzeleke ukuba wenze intlawulo zembuyekezo. Oko luboniswe izibambiso, kwaye imali yeloo lizwe ifomati. Kulo meko, isivumelwano yemali-modified. Iimbopheleleko zamaqela kwi kwinxalenye yesibini yingisela uncipha. Ukuba ufuna ukwenza i kwicala imbuyekezo yentlawulo ayiluhoyi izibophelelo zalo, kukho imfuneko yokuba ukuphunyezwa yokuqala kwinxalenye yesibini kwekhontrakthi. Indlela sembuyekezo iintlawulo likuvumela ukuba kubekho ulungelelwano phakathi izibophelelo kunye. Angaba umqalisi zokusebenza yokuqala nezibophelelo phantsi isivumelwano.

ngezinto zezindlu zooyise

Active imisebenzi ibhanki phantsi scheme repurchase kwi bond okokuqala baqalisa ukuqhelisela ngo-2003, emva kokuba ulwamkelo yomthetho efanelekileyo. Ngamaxesha obunzima kwezoqoqosho, leyo yatyatyamba zonke uzuko bayo ngo-2008, ixabiso imicimbi ezimbini - phambili kwaye umva repo - zitshintshile. Baye baba ubunzima ephakamileyo njengesixhobo lubalaseleyo enika amatyala awohloka inkqubo zebhanki. Kubalulekile ukuphawula ukuba kumathuba athile ngexesha engundoqo, kwaye maxa wambi umboneleli kuphela amatyala, ukusukela ngo-2008, kufeza i Central Bank of the Russian Federation. Le nyaniso ingqinwa kakuhle into yokuba iziphumo yeefandesi senzala yemali ngo-2008 no-2009 wabonisa ngokucacileyo ukuba Central Bank njengomboneleli amatyala.

Indima ye-Central Bank kweentengiselwano repo

Amaziko Financial ngenkuthalo usebenzisa imisebenzi esebenzayo ye-repo lebhanki ukugcina loo amatyala efanayo. Oku kungqinwa yinto yokuba uninzi izivumelwano akukho nto ngaphezulu ngemini. Operation ehlala iintsuku ezi-3 ukuya kowe-7 ngereyithi eyi% ngonyaka 9,22-12,4 ezinqabe kakhulu. Xa ubuso lomthengi mabophe ngomhla inxalenye yokuqala isivumelwano kunye umthengisi yesibini phantse lonk wenza njengoko CBR. Ukuba ibhanki kwaye kugqiba inani labathathi-nxaxheba ukuba benza emva kokuba uphononongo preliminary izicelo.

Xa indima yokhuseleko okanye amanyathelo miba esisiseko neentambo ngokwabo imixokelelwane ukubayinxalenye kudidi izibambiso, naziphi na ezinye izibambiso efakwe kuluhlu Lombard ye-Bank of Russia. Ubuhle bokuba izivumelwano ingabizwa oko luphawulwa unyango werhafu ngamnye. Oku kwenza uhanahaniso phantse indlela kakhulu yokubolekisa.