Historical and Innovative Aspects of Forming of Monetary Intermediaries Mechanism
Abstract
The article is devoted to the analysis of financial processes constituting the bank money issuing mechanism which combined granting loans and deposit making. Author has investigated historical and innovative aspects of formation of this mechanism and represents it as a result of credit relations evolution and revolutionary transformation of banking practice:banknotes and cheques circulation, cheques clearing, mortgage securities circulation and overdrafts. As a result of the analysis assets transformation functions of bank have been described.
Keywords:
credit theory
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Articles of the St Petersburg University Journal of Economic Studies are open access distributed under the terms of the License Agreement with Saint Petersburg State University, which permits to the authors unrestricted distribution and self-archiving free of charge.