Bond udaba njengendlela edonsa ukutshalwa

Kwaphela iminyaka eminingi ezweni isibopho sethu udaba (izibopho) kwakubhekwa njengesibusiso indlela bakudala yokutshala izimali. Kodwa eziyimbangela yalokhu akuzange kuhlale isikhathi eside, futhi namuhla ingenye ithuluzi yokuncintisana kakhulu ukwandisa imali. amandla ayo nawo njengomnyango mkhulu kakhulu: kusuka engenayo ngesimo isithakazelo zamanje ukuba inzuzo etholakale. Kodwa kudinga ulwazi esiyisibopho zimali kusuka nemiqondo eyisisekelo eziyinhloko umehluko wemisindo nemiqondo yamagama eqondile izimakethe. Mayelana lokho, yini inkinga isibopho, ngaphezulu ukukhuluma ku.

definition

Amabhondi - kuyinto ukulingana izibambiso ukuthi kulondeke umnikazi walo ilungelo lokuthola kwenani eliyimali kusukela umkhiphi futhi enikeziwe iphesenti kwaleli nani. Uma lokhu kuphambene nomthetho we Russian Federation, zingase zihlanganise namanye amalungelo endawo.

Bond udaba - ithuluzi lokumaketha evumela namabhizinisi States noma (issuers) ukuze uthole lemali edingekayo imali ngokuthengisa ukuba abatshalizimali. Nge ithuba ukwandisa nekomkhulu lalo esebenzisa izibopho puttable emva ethile kunini par, futhi ngenxa yentshisekelo kubo.

Ngokungafani amasheya

Bond loan (isibopho) has a umqondo afana namasheya: bobabili ukukhokhwa, futhi ahlelwe Ukuhwebelana ezahlukene. Kodwa Uhlobo lokuqala zokuphepha - lokhu izibopho loan futhi wesibili (ukwabelana) kuhlanganisa esigxotsheni kule nkampani.

Izinhlobo izibopho phezu ukubolekisa eside

Kuye ngesikhathi lapho umkhiphi kufanele bakhokhe imali, kukhona izinhlobo ezintathu izibambiso:

1. Yesikhathi eside isibopho udaba - iminyaka engaphezu kuka-10 isikhathi lokuhlengwa. Njengomthetho, zimali uhulumeni noma izinkampani ezinkulu zezimali. Ngokusho kwakhe, kukhona amakhuphoni ahlukahlukene, okungukuthi, inzalo ikhokhelwa umnikazi walo.
2. I medium-term - kusukela ngonyaka 1 iminyaka engu-10. Kuhloswe ukuba ukukhokhela izindleko zokwakha utshalomali. Udaba isibopho esimaphakathi has share ngobukhulu emakethe isibopho.
3. Esifushane - kusuka izinyanga ezimbalwa unyaka owodwa. It ihlose ukumboza kwesabelo sezimali kanye ukuxazulula izinkinga wezimali esikuwo. Izingozi avame ukuba ephakeme ngabo, yize eside emfushane njengoba nokhiphe inkampani avele engazinzile. Kodwa inzuzo yabo ubhekwa high value ngokulinganisa of lokuyihlenga. Njengomthetho, loan short-term kuyinto zero-isigqebhezana, okungukuthi, akusizi nentshisekelo umnikazi.

Izizathu elikhiphe izibopho

Abatshali abaningi bezimali imfundamakhwela umbuzo uwukuthi: kungani izinhlangano ukuba babe nokhiphe isibopho? Kunganjani ukusizakala, isibonelo, yibhange imali? Kodwa kungaba nezizathu ezithile:

• Udaba sibopho ebhange izindawo ezingconywana.
• Ibhange wenqaba loan.
• Esikhathini isikhungo Ikhredithi amafa akwanele liquid, ezifana omkhulu amaphrojekthi utshalomali.
• Amabhizinisi kudingeka imali ezinyangeni ezimbalwa nabanye.

Izindlela imali nokuhlengwa izinkokhelo

Kunezinhlobo eziningana ngokusho indlela buyiselo izibopho:

• Isaphulelo izibopho - uhlobo loan lapho isithakazelo ingakhokhwa kuze zimali. Kodwa ukubaluleka kwalo okuzisholo kuyinto kunalelo yangempela, ukuthi ikhokhelwa, kungakho igama elithi "isaphulelo" - isaphulelo.
• Ikhuphoni izibopho - uhlobo loan lapho isithakazelo ikhokhelwa nyanga zonke, okuyinto ezakha nzuzo zimali. I okuzisholo wokuhlengwa i-value, njengoba umthetho, ekuqaleni yokuqothulwa.
• Amabhondi nge mini-isigqebhezana - lolu hlobo loan lapho zisebenza ohlelweni isaphulelo, futhi amakhuphoni. Lokho bakhokhe iphesenti ezincane kuya zimali kanye kwenani eliyimali ngenhla nje lemali yokuqothulwa.

Ngasekuqaleni kwawo-90-yalolucwaningo. kwekhulu leminyaka elidlule, izinga lokwehla kwamandla emali ezweni ibilokhu akuqinisekile kangangokuthi loan isibopho akhiwa izinkomba ezahlukene zomnotho: inani lemakethe ingcebo, isilinganiso igolide, njll ...

Izimo letitsintsa inani lemakethe izibopho

Inkinga izibopho - kuyinto udaba kwamatayitela, ezidayiswa ezimakethe zamasheya. Okungukuthi, izibopho zidayiswa futhi kabusha ithengwa wabathengi, zimali, befisa ukuthola inzuzo, nokunye. D. Uma zimali wathenga isibopho, akusho ukuthi nguye kuphela umuntfu unelilungelo ulindele ukuphelela komunye ukubaluleka ubuso wezitifiketi. Sinenkosi, noma yimuphi umuntu ngesikhathi ekubalweni izibopho wathenga ilungelo lokwenza ukubala.

Zonke izibopho ethengwayo kanye ithengiswe exchange isitokwe. inani lemakethe kangakanani kuncike ekutheni lezi zinto ezilandelayo:

• Isimo somnotho e-industry, izwe, ezweni. Phakathi nezinkinga ezihlukahlukene zimali ungafuni engozini futhi uncamela abe "inyoni esandleni". Ngakho baqala ukuthengisa amabhondi ukugcina imali yabo. Ngaphezu kwalokho, issuers abaningi ziphonswe yinhlama entsha izibopho emakethe. Ngokuvamile, lokhu esifushane ukuze ingaziki, hhayi ukuba afiphale endaweni ezinzima kwezomnotho.
• Ukuvuthwa izibopho.
• Amaphesenti isigqebhezana.

State isibopho udaba

Labo abaphila eSoviet Union, babhekana nomqondo T-izikweletu noma short-term kumasheya ezindawo zikahulumeni. Lokhu akusona isimanga: neziphathimandla babuzwe usizo kubantu bakubo. Ngaleso sikhathi kwaba cishe komthombo utshalomali esisemthethweni. Indawo yokuhlala yomuntu bebungekho, ngakho-ke, futhi izibambiso, kubandakanya noma iyiphi izinhlobo esitokisini futhi izibopho. Yiqiniso, zenzalo yokuzigcina T-izikweletu ayemancane, kodwa, nokho, base sberbankovskogo ephakeme (ibhange wayebuye eyodwa kuphela kuleli zwe kuze kube isikhathi ukulungiswa).

Namuhla izwe lonke, isibopho ukubolekisa isimo ungeyena into yesikhathi esidlule. Amandla, ikakhulukazi esimweni esibucayi, futhi ukuboleka imali sabantu. Izici eziyinhloko izibopho kahulumeni:

• Izinga eliphansi imali kubo, uma kuqhathaniswa ezizimele izibopho.
• yesiqinisekiso okuphezulu. Isimo ayikwazi hamba ayinamali, kodwa okuhlangenwe nakho 1998, isibonelo, ukuthi angase amemezele ezenzakalelayo, okusho ukwehluleka ukukhokha izikweletu, futhi empeleni kuyinto efanayo.
• engenayo okuphansi, kwezinye izimo, kulinganiswe izinzuzo imali yentela siqu (intela emiholweni sabantu zemvelo). Ngaphandle, yebo, umhlali intela ungumthombo esemthethweni engenayo.

Ukusebenza isibopho emakethe uhulumeni

Imakethe yesimanje ye GKO futhi OFZ (federal loan izibopho) waqala ukusebenza kusukela maphakathi no-1993. Ukuze wenze lokhu, wonke ingqalasizinda yadalwa, yezingxenye ezisemqoka:

• Ministry of Finance (umkhiphi OFZ).
• CBR - imisebenzi asimeme kanye zokulawula. Ubeke izindali, ukukhulula, silungiselela imibhalo ehlukahlukene. Central Bank uzama wokuqhubeka ka-T-izikweletu emakethe izinkomba: inzuzo, impahla ibe yimali, njalo njalo ..
• wabenza agunyaziwe. Lena amabhange ezahlukene commercial, Brokerage amafemu, ngubani bakhangwa izimali emakethe uqobo nemali amaklayenti abo esigcawini.
• EMoscow Interbank Currency Exchange (MICEX). platform Ukuhweba yenza imisebenzi lapho yonke imisebenzi zenzeka.

Ukutshala imali esikhathini esizayo

Manje okwengeziwe eside isibopho daba. "Eside noma esifushane eside kangcono?" - cela abatshali bezimali abaningi imfundamakhwela. Umbuzo Yiqiniso, ayilungile, ngoba konke kuncike lezi zinto ezilandelayo:

• amazinga bokuzisholo.
• ukuzethemba ezingeni.
• Amaphesenti isigqebhezana.

Kunezikhathi lapho oholela kangcono ukutshala kumaphrojekthi yokutshala imali isikhathi eside futhi bathole ukuphila isithakazelo amakhuphoni kuka ukutshala e ukubolekisa yesikhashana, okuyizinto kude uyovumela isivuno.

Ukwahlukanisa udaba isibopho ngendaba amalungelo

On the subject of amalungelo izibopho ihlukaniswa njengoba:

• kubhaliswe;
• lwezikhali.

Sikhishwa Umkhiphi bhalisiwe ngamunye, futhi isithakazelo kubo kukhona kuma-akhawunti abo siqu zimali. Umthwali izibopho, issuers kungukuthi fixed, ezifana isitokwe. Basuke lokuphekiwe Ukuhwebelana isitokwe futhi yonke imisebenzi kubo wasithatha wabathengi ethize.

Ukulinganisa utshalomali grade izibopho

Ngaphambi zimali ukuze imali itshalwa kumasheya ezindawo, udinga ukwenza ukuhlolwa ezindaweni ezilandelayo:

1. nokwethenjelwa Ezimisele lenkampani ukusebenzisa izinkokhelo isithakazelo. Udinga ukwazi inani inzuzo yayo yonyaka futhi zonke izinkokhelo isithakazelo. Uma kunjalo izikhathi 2-3 lincane imali ibhizinisi, ungamethemba njengenhlangano umkhiphi ukuboshwa. isimo esinjalo eyabonisa isimo nzile inkampani. azihlole kungcono ukwenza eminyakeni embalwa. Uma lo mkhuba liyakhula (iphesenti wenkokhelo lehla njalo ngonyaka), khona-ke inkampani ucingo ngale ndlela kwandisa amandla ayo uma Kunalokho, iphesenti izinkokhelo ukhula, bese-ke uhamba wacwila ezikweletini.
2. Kususelwa ikhono inkampani ukuba abuyisele izikweletu ngenxa yananoma yiziphi izizathu. Ngaphezu izibopho, ngokuqinile kungase kube nezinye izikweletu zezimali, ezifana sokubolekwayo.
3. Kuhlola ukuzimela kwezezimali lenkampani. Kukholakala ukuthi inkampani akuxhomekile imithombo yangaphandle, uma izikweletu ingeqi angu-50.

ingozi

Ubungozi - kuyinto ematfuba ukulahleka noma eshodayo e inzuzo elindelekile. Ukubeka - hhayi i-lottery, lapho ithuba 50 ukufika e-50 Lena olinganiselayo, izixazululo kokwenzekayo. Kodwa ngezinye izikhathi kwenzeka ukuthi ngisho izinkampani esitebeleni kakhulu futhi yimpumelelo hamba ayinamali.

Ukuvimbela amaphutha kanye ukunciphisa izingozi ehlukahlukene izinhlelo okuhlaziya kanye izilinganiso asetshenziswa ezimakethe zamasheya:

• A ++ - esiphezulu ukuhlolwa ukuphepha.
• A + - inkampani omuhle kakhulu.
• Futhi - inkampani omuhle, kodwa indawo kungenzeka engazinzile.
• B ++ - izinga ngokwesilinganiso.
• B + - ngaphansi kwesilinganiso.
• V - eliphansi.
• C - izibopho zokucabangela.