A pledge is a way of securing obligations between the debtor (pledgor) and the creditor (pledgee). Collateral can be primary or secondary. In the first case, the collateral is transferred to the Bank as a first priority collateral. If the borrower receives another loan (while refinancing the first loan) from another bank, the second-stage collateral mechanism is triggered.

In this case, the contractual relationship between the first Bank and the second (remortgaging) Bank is concluded in writing, and the collateral is remortgaged to the second Bank. The creditor has a priority right to the collateral relative to other creditors. The relationship between the parties is specified in the agreement and regulated by the Civil Code of the Russian Federation, the Federal Law “On Mortgage”, and the Federal Law “On Mortgage”.

Collateral is a set of conditions that gives the creditor confidence that the debt will be repaid. Collateral for a loan can be collateral in the form of real estate, movable property and other highly liquid assets (securities, guarantees), as well as a surety. In addition to the main loan collateral, in a number of countries there is a need to provide additional sources of income, because the credit risk for the lender is higher.

Similarities and differences between collateral and security

Thus, “Pledge” and “Security” are two different concepts. However, in the banking system there is a general expression - “Collateral”, which implies the entire system of contractual relations and obligations between the debtor and the creditor.

Securing a loan with collateral

There are types of loans in which the obligatory condition is the provision of collateral. These include: commercial, mortgage, consumer, leasing, etc. For them, Banks necessarily require “hard” collateral. For car loans, student loans and other “easy” loans, Banks mainly accept purchased cars, inventory items, movable property, etc. as collateral. The pledgor can be either the debtor himself or a third party, with his written permission.

Documentary component

After the loan is issued, the borrower's package is formed. It contains the loan collateral, agreements, and all other necessary documents in accordance with the “Lending Procedures”. Each unit of collateral in the Bank is accounted for as one off-balance sheet liability and reflected in the corresponding accounting entry. In practice, the nominal value of 1 collateral is usually equal to 1 unit of currency and is kept until the end of the loan term. At the end of the loan term, the off-balance sheet liability is written off from the Bank's liabilities and returned to the borrower against signature.

What happens if you don’t pay the Bank?

If the mortgagor fails to fulfill the obligations specified in the agreement, the Bank delivers to the debtor a notice registered with the relevant authority about the initiation of the procedure for forced collection of the collateral to pay off the debt. If the debtor does not “react” to the Bank’s actions in pre-trial proceedings, the Bank has the right to satisfy the obligation by selling the collateral. The lawyer prepares a package of documents (correspondence between the debtor and the creditor), attaches signed agreements, calculates the full amount of the debt, and sends the case to court. If the court makes a decision in favor of the creditor, the debtor's property becomes the property of the Bank and is sold at an open auction under the hammer. If the court decides in favor of the debtor, then one can only envy this debtor, because this is a very small percentage of all court cases.

Calculation of collateral and obligations

In order to secure a loan with collateral, the loan officer first calculates the amount of the debtor’s obligations:

loan amount + accrued interest for the period according to the repayment schedule = loan obligations

Calculation example

To support the above material, let's give 2 examples:

Example 1.

You took out a loan:

As security for the loan, you provide a 3-room apartment with an approximate market price of 16,000,000 rubles. When calculating the collateral value of real estate, Banks use a liquidity ratio of approximately 40-70% of the value of the property. In your case, let's say it will be 50%. Thus, your apartment will be assessed by a Bank specialist in the amount of 8,000,000 rubles. Now let's calculate the amount of liabilities:

5,000,000 rubles * 11% * 5 years = 7,750,000 rubles.

Congratulations, your collateral fully covers your obligations and you have an excellent chance of getting a loan.

Example 2.

You receive a mortgage loan to purchase an apartment, the cost of which is 14,000,000 rubles.

The goal is to buy an apartment

In mortgage lending, the property being purchased is required as collateral for the loan. What will be the calculation of the collateral security? Let's take a closer look here. The liquidity ratio will also be 50%. Now look: If the property being purchased costs 14,000,000 rubles, then after applying the coefficient, its estimated value as collateral will be equal to 7,000,000 rubles. And the amount of your obligations to the Bank is:

14,000,000 * 10% * 10 years = 28,000,000 rubles!

There was a difference of 21,000,000 rubles. In this case, you need to provide additional collateral for the difference in your obligations. However, one of the conditions of mortgage loans is your own contribution to the purchased property. Typically it varies from 30% to 70%. I will explain this in detail to you in the next topic.

COURSE WORK

on the topic: “Pledge as a form of loan security”

Discipline “Money. Credit. Banks"

Introduction

1 Concept of credit

2 The role of credit

3 Assessment of the borrower's creditworthiness and solvency

Concept of securing a bank loan

Forms of loan collateral

1 Collateral is the main way to secure a loan

1.1 Subject of collateral

1.2 Termination of pledge

1.3 Real estate pledge

1.4 Sale of pledged property

1.5 Pledge of rights

1.6 Hard pledge

1.7 Pledge of goods in circulation

1.8 Pledge of securities

1.9 Disadvantages of collateral

2 Surety

2.1 The essence of the guarantee

3 Bank guarantee

Prospects for the development of various forms of ensuring loan repayment

Problems of secured lending in Russia

Secured lending: Foreign experience and Russian reality

Conclusion

Introduction

The relevance of this topic is due to the current modern conditions, which put before commercial banks the need for an integrated approach to the formation of mechanisms that regulate and ensure the repayment of a bank loan. After all, one of the main current problems in the banking sector is the problem of the increased risk of credit investments and, accordingly, ensuring the repayment of a bank loan. And failures in lending can lead to the ruin of commercial banks and bankruptcy.

The purpose of this course work is to reveal the mechanism for organizing loan repayment. Consideration of the most commonly used form of securing loan repayment as collateral.

1. Credit

.1 Concept of credit

In a market economy, it is a mandatory law that money must be in constant circulation. Temporarily available funds should be supplied to the loan capital market, accumulated in financial institutions, and then effectively put to work and placed in those sectors of the economy where there is a need for additional capital investments.

Money, like any other product, is bought and sold. The process of buying and selling money received a specific name - credit. Credit- economic relations between various partners that arise when transferring property or money to another person on the terms of urgency, repayment, payment and security.

Urgency, repayment, payment, security - the basic principles of lending. Principle urgencyis that the loan must be repaid within a strictly defined time frame. Compliance with this principle is an important condition for the functioning of banks and the credit system itself. Repaymentmeans the loan must be repaid. Principle paidmeans that you have to pay interest on money borrowed. Payment forces the borrower to use borrowed funds more efficiently. Principle securityloans means that the loan must be secured by property, obligations of third parties. Lending to enterprises, organizations and the population is carried out in strict compliance with these basic principles.” The principles of lending also include the principle of differentiation in credit relations. Differentiated approach to lendingmeans that banks (credit institutions) do not approach different clients and solve the issue of lending in the same way. Before granting a loan, the financial condition of the borrower is carefully studied in order to ensure his ability to repay the loan within the established time frame.

The role of credit and credit relations is best expressed by the functions of credit: redistribution, emission, control, regulation. Redistribution functionlies in the fact that loan capital redistributes funds from firms and the population, from which they are temporarily free, to business entities that are in need of additional money. The funds lent work and bring their owners income in the form of interest. The borrower uses the loan to earn a profit, part of which is used to service the debt. In developed countries, the share of credit resources in the sources of financing the activities of enterprises is 30-50%. The redistribution function provides the opportunity to mobilize capital for the implementation of large projects that are inaccessible to the limited resources of individual firms. Emission functioncredit is expressed in the fact that banks, by providing credit to enterprises, create so-called credit money. Banks act in this case as intermediaries. There is an increase in the money supply due to an increase in non-cash money. The ability of banks to increase the money supply when providing loans is taken into account when the state conducts monetary policy. Content control functionconsists of monitoring the banks that issued the loan over the economic activities of the borrowers. Before providing a loan, the bank carefully studies the borrower’s creditworthiness and solvency and gets acquainted with the results of audits. Having provided a loan, the bank uses its own methods to monitor the financial condition of the borrower, trying to ensure timely repayment of the loan and interest on it. Credit serves as a tool for regulating the economy. The state participates in the process of movement of loan capital, regulating the access of borrowers to the loan capital market, making it easier or more difficult to obtain loans. Credit regulation of the economy- a set of measures carried out by the state to change the volume and dynamics of credit in order to influence economic processes.

In the process of historical development, credit has acquired diverse forms. In modern conditions, the main forms of credit are: commercial, banking, consumer, mortgage, state and international. Commercial loanprovided by enterprises, associations and other economic entities to each other in the form of the sale of goods with deferred payment. A commercial loan is usually short-term - provided for a period of no more than a year. A commercial loan instrument is a bill of exchange - a type of debt obligation. The supplier company provides a deferred payment for its goods, and the buyer company transfers its bill of exchange as a certificate of debt and an obligation to pay with interest. The supplier company can use this bill for payments. Commercial credit is interconnected with bank credit. With a commercial loan, bills of exchange can be discounted and loans secured against bills of exchange can be provided. When discounting bills, the bank pays the holder of the bill the amount indicated on the bill, minus interest at the current discount rate. In the case of a loan secured by bills of exchange, the loan is provided against inventory assets secured by the bill of exchange. Commercial credit promotes the redistribution of capital, expands and facilitates the sale of goods, and accelerates capital turnover. The disadvantages of a commercial loan include its limitation in form, time, volume and subjects.

Bank loan- a loan provided in cash by financial institutions (banks, funds, associations) to any economic entities (private enterprises, organizations, the population and the state) in the form of cash loans. Due to its versatility, a bank loan is the main form of credit. - Depending on the terms of use, bank loans are divided into short-term and long-term. Short-term loans are concluded to finance current expenses for a period of up to 12 months. Long-term loans - loans for the creation, reconstruction and modernization of fixed assets. The period of long-term lending is linked to the payback period of the investment. Bank loan is provided after conclusion loan agreement. The loan agreement stipulates the purpose of the loan, its size, interest rate, repayment terms of the loan and interest, forms of loan security, mutual responsibility of the parties, etc.

An important type of loan in modern conditions is consumer loan, provided for a period of up to 3 years when purchasing durable consumer goods. A type of consumer loan is long-term (for a very long period) loans to individuals for the purchase or construction of housing. In this case, the borrower is the population, and the lender, as a rule, is banks. When obtaining a consumer loan, there may be intermediaries, for example, trading enterprises that sell goods on credit. The main forms of consumer credit: sale of goods with installment payment (consumer credit in commodity form); provision of cash loans by banks to the population for the purchase of durable goods; providing cash loans for housing construction. In recent years it has received great development in Russia. On the one hand, thanks to it, the population buys more durable goods. On the other hand, this type of loan is a very profitable operation of commercial banks.

Mortgageissued for the purchase of housing, land, or other real estate, as well as secured by real estate. Mortgage loans are provided for a long term - 10-30 years. State loan- this is, as a rule, borrowing by the state or local authorities from business and the population. Government securities are instruments of government credit. By selling securities, the state receives at its disposal additional monetary resources, which are used to finance the state budget deficit and repay the state debt. In some cases, the state may act as a creditor (when providing loans to state-owned banks). International loanincludes credit relations between the state and international financial organizations, as well as between national firms and foreign banks and other financial institutions.

The totality of credit and settlement relations, forms and methods of lending constitutes the credit system of society. The modern credit system is a multi-level mechanism for the accumulation and redistribution of financial assets. It consists of the following main links:

Central Bank, state and semi-state banks.

Banking sector: commercial, savings, mortgage, investment banks, specialized trading banks.

Specialized non-bank financial institutions: insurance companies, pension funds, savings and loan associations, credit unions.

The above three-tier diagram of the structure of the credit system is typical for most countries with market economies.

1.2 The role of credit

Credit plays an important role in self-regulation of the amount of funds required to carry out business activities. Thanks to a loan, enterprises have at any time the amount of funds necessary for normal operation.

The role of credit is important for replenishing working capital, the need for which is not stable for each enterprise and varies depending on operating conditions: market, natural, climatic, political, etc.

The role of credit is great for the reproduction of fixed assets. Using a loan, an enterprise can improve and increase production much faster than without it.

The role of credit is important in regulating the liquidity of the banking system, as well as in creating an effective mechanism for financing government spending.

1.3 Assessment of the borrower's creditworthiness and solvency

In the practice of Russian and foreign banks, various approaches are used to determine the credit risk of individuals, starting with subjective assessments by credit experts of commercial banks and ending with automated risk assessment systems. Most foreign banks in their practice use two methods for assessing the creditworthiness of borrowers.

1. Expert assessment systems. This system allows banks to make a balanced assessment of both the personal qualities of a potential borrower and his financial condition. In international practice, considerable attention is paid to this method; a monitoring network is actively developing to analyze the credit history of potential borrowers. For example, in the US, a loan officer almost always asks a local or regional credit bureau about the client's credit history. There are over two thousand credit bureaus in the United States that have data on a large number of individuals who have ever received loans, the history of repayment of these loans, and the credit rating of borrowers.

2. Point systems for assessing customer creditworthiness, which are created by banks based on factor analysis. This system uses an accumulated database of “good”, “satisfactory” and “poor” borrowers, which makes it possible to establish a criterion level for assessing the borrower.

Scoring systems have the advantage that they allow a large volume of loan applications to be analyzed quickly and with minimal effort, thereby reducing operating costs. In addition, they represent a more efficient way of assessing applications, i.e. may be carried out by credit inspectors who do not have sufficient experience. This allows you to reduce losses from issuing bad loans.

The use of point systems for assessing the creditworthiness of clients is a more objective and economically sound method of decision-making when issuing loans than expert assessments.

For example, the creditworthiness of an individual can be quickly assessed using the Durand credit scoring system.

Scoring systems usually use discriminant models or a similar logistic regression method. These models use several variables that add up to a numerical score for each potential borrower.

In essence, scoring individuals is an assessment technique borrower's creditworthiness, based on various characteristics of clients, for example: income, age, profession, marital status, etc. As a result of the analysis of factors, an integrated indicator is calculated, which gives an idea of ​​the degree of creditworthiness of the borrower, based on the points scored during the analysis. And as a result, depending on the score, a decision is made to issue a loan and its parameters or to refuse to provide a loan.

Russian banks in their practice use similar assessment methods, for example, in Sberbank of the Russian Federation, the solvency of the borrower is determined as follows:

Kpl= D*K*T

where D is the average monthly income for the last 6 months minus all mandatory payments (income tax, contributions, alimony, compensation for damage, etc.);

K is a coefficient depending on the value of D, i.e. the indicator is equal to K = 0.3 for D in the equivalent of up to $500, K = 0.4 for D from 501 to $1000, K = 0.5 for D over $2000. Income in dollar equivalent is determined by recalculating ruble income at the rate of the Central Bank of the Russian Federation established at the time the applicant applied to the bank;

T - loan term, months.

The maximum loan amount (S) is calculated in two stages.

The maximum loan size is determined based on the client’s solvency:

= (1+N%*100)/T

where, N% - annual interest rate;

The resulting value is adjusted taking into account the provided loan repayment collateral, information provided in the opinions of other bank divisions, and the outstanding balance on previously received loans. It would not be entirely correct to consider methods for assessing a borrower’s creditworthiness based only on the methodology of Sberbank of the Russian Federation, since Russian banks have laid a significant methodological basis on this issue over more than a ten-year period of development. In terms of further development of this topic, we will consider a point system for assessing the creditworthiness of an individual borrower, which takes into account the most significant factors that determine the borrower’s ability to fully and on time fulfill its obligations.

This system is based on a two-level assessment system.

At the first stage, a bank employee asks the borrower to fill out a test questionnaire. The test questionnaire is used to preliminary assess the possibility of providing a loan to the borrower. When filling out the test questionnaire, the client is not required to provide passport data; only general information about the borrower, place of work, property, income and expenses is required.

Based on the results of the borrower filling out the test questionnaire, the number of points scored by the borrower is calculated and a protocol is signed to assess the possibility of receiving a loan.

If the total score is less than 30, then the protocol indicates that the borrower does not have sufficient capabilities to obtain a loan to purchase a home. The protocol, together with the completed test questionnaire, is sent to the borrower.

The next step to carry out a comprehensive analysis of the creditworthiness of an individual is to assess the quality of loans provided to individuals.

Loans to individuals are assessed according to the following criteria:

· character of the client;

· financial capabilities of the client;

· sufficiency of the client’s unmortgaged property;

· loan security;

· lending terms.

Each criterion includes indicators that form the assessment according to the criterion. Each indicator is assessed in points, the score according to the criterion is equal to the sum of the scores of the indicators included in it. The loan quality rating is equal to the sum of the ratings of all criteria.

Comparing the expert and point rating systems, I would like to make the following clarification.

The use of qualified experts by banks to assess the creditworthiness has several disadvantages: firstly, their opinion is subjective in one way or another, secondly, people cannot quickly process large amounts of information, and thirdly, paying highly qualified specialists is associated with significant costs. In this regard, banks are increasingly showing increased interest in risk assessment systems that would minimize the participation of experts and the influence of the human factor on decision making.

In turn, the scoring system is a mathematical model with which the bank, based on data on the clients’ credit history, can determine the likelihood of a potential borrower not repaying the loan.

The last two judgments form the following problem: most Russian commercial banks either do not take into account the reason for the borrower’s bad credit history (perhaps due to reasons beyond his control), or, based on the client’s bad credit history, make a decision not in favor of the potential borrower. This problem is often invisible to bank employees, but has a noticeable impact on clients.

To summarize what has been said, I would like to emphasize once again that all of the above methods are of a formalized nature, so when assessing the possibility of a borrower’s creditworthiness, the professionalism of bank employees plays a huge role. Various methods for assessing creditworthiness differ from each other in the composition of the factors used in assessing the overall credit rating of the borrower, as well as in the approaches to assessing each parameter of the model and the degree of significance of each of them. Unfortunately, the composition of factors in the model is not universal for all banks and countries, which, in turn, does not allow the global banking community to exchange statistics and improve their scoring systems.

At the same time, the complexity and ambiguity of assessing the creditworthiness of individuals determines the use of various methods and approaches. Moreover, it is important to note that in order to achieve the best results, the most preferable, in our opinion, is the use of both mathematical models and expert approaches in combination.

In conclusion, we note that at present, when approving methods for assessing the creditworthiness of private borrowers, it is important to check how well the chosen methods are adapted to the current situation in the country, for example, how thoroughly the sources of financial difficulties for potential borrowers in the past are analyzed. It is important to approach with interest issues related to a negative credit history, relatively short work experience at the last place of work, etc., because the reason may not be the borrower’s dishonesty, but an unfavorable combination of circumstances, which, regardless of the borrower’s will, led to negative in terms of obtaining a new loan the consequences.

2. The concept of securing a bank loan

Ensuring loan repayment consists of carrying out a set of operations (actions) during which potential and real cash flows are generated and maintained, moving credit resources from borrowers to lenders. The concept of “loan repayment” can be used both in the narrow sense (an operation, a separate redistribution flow) and in the broad sense of the term (a system, a series of interconnected sequential operations, a complex).

In the first case, repayment is considered as a direct movement of credit resources from the borrower to the lender, as an operation opposite to the issuance of a loan.

In the second case, loan repayment means a complex, multi-link process, which may include such stages as, for example, the withdrawal of resources from the circulation of borrowers of the second (and possibly subsequent) order, the return of resources and turnover of the main borrower, the withdrawal of funds from its circulation and return funds to the lender during the planned return movement of credit resources. The above series of operations is, although complete, a highly specialized scenario implemented for unclassified (problem-free) loans. The real situation often requires the additional connection of one or more cash flows (sources) for repaying credit debt, and in critical cases, complete replacement of the main ones with these flows. This can already be considered a complete, extended scenario, including the concentration of resources among borrowers of the second (as well as subsequent) order, both for main and additional sources, and the concentration of resources among the main borrower, including loan repayment from second-order borrowers and activation, to the required extent, of additional sources, and, finally, the return of funds to the creditor from the main or additional source or repayment of losses in the event of loan default (credit risk) from alternative cash flows (repayment sources). These additional and alternative cash flows can be generated in the turnover of borrowers, in their assets and property, in the turnover and assets of third parties involved in the lending process, and even in the resources of the lender himself.

3. Forms of loan collateral

According to the Civil Code of the Russian Federation (Article 329), the fulfillment of loan obligations can be ensured in the following ways: penalty; collateral; retention of the debtor's property; surety; bank guarantee; deposit and other methods provided for by law and not contradicting the principles of civil legislation.

The most commonly used are collateral, surety and bank guarantee. The deposit is not used at all, and retention is used very rarely. Banks also use other forms of loan security - insurance against the risk of loan non-repayment, as well as other methods not specified in the law.

3.1 Collateral is the main way to secure a loan

3.1.1 Subject of collateral

The most common way to ensure the repayment of a loan is a pledge (Articles 334-358 of the Civil Code of the Russian Federation) - a method of securing an obligation in which the creditor (mortgagee) has the right, in the event of failure by the debtor to fulfill this obligation, to receive satisfaction from the pledged property preferentially before other creditors.

The pledge agreement is concluded only in writing, simple or notarized. When concluding a pledge agreement, it is very important to comply with its form and, if necessary, the registration procedure. Their violation entails the invalidity of the contract.

A real estate pledge agreement requires additional state registration (clause 1 of Article 131 of the Civil Code of the Russian Federation) with the relevant authorities.

The subject of a pledge can be any property, including things and property rights (claims), with the exception of property withdrawn from circulation, claims inextricably linked with the person of the creditor, and other rights, the assignment of which to another person is prohibited by law.

Before concluding a contract, a collateral verification report is drawn up with an on-site visit. A bank representative checks the collateral actually and based on accounting data. In this case, an act is drawn up, signed by a representative of the bank, the manager and chief accountant of the borrower.

credit solvency borrower guarantee

3.1.2 Termination of pledge

The pledge is terminated:

with the termination of the obligation secured by the pledge;

at the request of the mortgagor (loan recipient) in case of gross violation of obligations by the mortgagee (bank), creating a threat of loss or damage to the pledged property;

in the event of the destruction of the pledged item or termination of the pledged right, if the pledgor has not restored the pledged item within a reasonable time or has not replaced it with other property of equal value;

in the case of a sale of the pledged property at a public auction, as well as when the sale of the pledged property turned out to be impossible and the repeated auction was declared invalid, and the pledgee did not exercise the right to retain the pledged property within a month after the auction was declared invalid.

When pledged property is taken because the actual owner of the property is another person, or as a sanction for the commission of a crime or other offense, the lien on that property is terminated.

The pledgee may transfer his rights under the pledge agreement to another person in compliance with the rules for transferring the rights of the creditor by assigning a claim (assignment) - when the creditor assigns the rights of claim to another person under the main obligation. With the transfer of debt under an obligation secured by a pledge to another person, the pledge is terminated unless the pledgor has given the creditor consent to be responsible for the new debtor.

When considering the issue of collateral, the bank must first take into account the value of this property for the borrower, because the collateral should be an incentive to repay the loan, and secondly, an opportunity for the bank to satisfy its claims at the expense of the pledged property.

In the current law (Article 334 of the Civil Code of the Russian Federation), the construction of a pledge is that the pledgee, in the event of non-fulfillment or improper fulfillment of the obligation secured by the pledge, receives not the subject of the pledge, but the right to satisfy his claims from the value of the pledged property, which, of course, can be implemented. However, it is first necessary to foreclose on the mortgaged property in court. Thus, quite a lot of time passes, as a result of which the creditor, due to the withdrawal of borrowed funds from circulation under the main obligation, incurs additional losses and, in general, the collateral loses its true purpose.

To avoid such a situation in law enforcement practice, some creditor banks and borrowers voluntarily agree to transfer the pledged property into the ownership of the pledgee, but in this case it should be stated that between the parties there is a compensation provided for in Article 409 of the Civil Code of the Russian Federation, and not the exercise of the rights of the pledgee.

3.1.3 Real estate pledge

In cases where the repayment of the loan is secured by collateral of real estate, the claims of the creditor-mortgagee are satisfied from the value of the pledged property only by court decision. Without going to court, claims are satisfied only on the basis of a notarized agreement between the pledgee and the pledgor, concluded after the emergence of grounds for foreclosure on the subject of pledge (Clause 1, Article 349 of the Civil Code of the Russian Federation). If the agreement on the pledge of movable property does not indicate the condition for resolving the dispute without a trial, you should apply to the court for permission to foreclose on the pledged movable property (clause 2 ibid.).

The sale of pledged property is carried out by sale at public auction in the manner determined by procedural legislation, unless a different procedure is established by law (Clause 1 of Article 350 of the Civil Code of the Russian Federation). At the request of the mortgagor, the court has the right to postpone its sale for up to one year. The deferment does not relieve the debtor from compensation for the creditor's losses and penalties that have increased during the deferment. The pledgor has the opportunity at any time before the sale of the pledged property to stop foreclosure on the pledged property if he fulfills the obligation secured by the pledge or that part of it, the fulfillment of which turned out to be overdue. Thus, the opinion that, within the framework of current legislation, it is possible to sell pledged real estate by transferring it to the creditor-mortgagee is untenable, although it may be promising in the future. In addition, it must be remembered that the specified conditions included by the parties in the pledge agreement, under the current legal regime, can lead to negative consequences for the pledgee, since an unscrupulous mortgagor has the opportunity to recognize the pledge agreement with the condition for the sale of the pledged real estate as sham, that is covering the intentions of the parties, in the event of failure to fulfill the obligation secured by the pledge, to resort to compensation, and not to the exercise of the rights of the pledgee, as defined by current legislation. Therefore, in this case, the creditor should be aware that under such conditions he will have the right to use the compensation provisions rather than the collateral provisions. And in this situation, he will not receive corresponding advantages in relation to the mortgaged real estate.

3.1.4 Sale of pledged property

From a legal point of view, the pledgee is a creditor under the main obligation secured by the pledge, which is aimed at the prompt sale of the pledged property in the event of non-repayment of loan funds (Article 334 of the Civil Code of the Russian Federation). From these positions, the legal regulation of collateral and its implementation in banking legislation lags significantly behind current practice, which significantly reduces the lender’s interest in this method of ensuring repayment of loan funds. First of all, this concerns the procedure established by law for the sale of pledged property.

Part one of the Civil Code expands the scope of the mortgagee's claims that can be satisfied at the expense of the pledged property. The pledge, unless otherwise provided by the agreement, secures claims in the amount up to the time of satisfaction, in particular interest, penalties, compensation for losses caused by delay in execution, as well as reimbursement of the necessary expenses of the pledgee for the maintenance of the pledged item and collection costs.

Article 23 of the Law of the Russian Federation “On Pledge” did not include a penalty in the scope of the creditor’s claims satisfied at the expense of the pledged property, and this type of liability was applied only if it was mentioned in the pledge agreement itself. Analyzing Article 28 of the Law on Pledge and Article 349 of the Civil Code of the Russian Federation, we can conclude that the Law on Pledge more strictly regulates the procedure for foreclosure on pledged property, as a result of which recovery was possible only by a court decision or in cases provided for by law on the basis of a notary’s writ of execution . This provision did not give the parties the opportunity to provide for a different procedure for foreclosure on property. According to the Civil Code, there are two options for foreclosure on mortgaged property: by court decision and without going to court.

Article 349 of the Civil Code of the Russian Federation, according to which for an undisputed foreclosure on property, notarization of the pledge agreement itself is not enough, requires a special agreement between the pledgor and the pledgee for this action without going to court, concluded after the grounds for foreclosure have arisen and certified by a notary.

Thus, new legal norms have significantly changed the procedure for foreclosure on mortgaged property, making it more reasonable and consistent with reality. But this cannot be said about the rules governing the procedure for selling pledged property exclusively at public auction.

The parties to pledged legal relations must have a choice in the order of sale of the pledged property. The procedure for the sale of pledged property subject to foreclosure could be provided for in the pledge agreement. In this sense, the procedure for the sale of pledged property subject to foreclosure, determined by the terms of the pledge agreement, may be recognized by the courts as justified.

3.1.5 Pledge of rights

When transferring ownership rights to a creditor as security for a debt, the client’s movable property remains in his use. This occurs when the transfer of values ​​to the lender is impossible and impractical and when the borrower cannot refuse to use the loan security object. In this case, the borrower is responsible for the safety of the valuables remaining in his use and does not have the right to independently dispose of them. Support objects can be either individual items (a car) or a group of items located in the same warehouse or workshop (goods, supplies of materials, semi-finished products). When concluding an agreement on the transfer of ownership as security for an existing debt, the bank must make sure that the borrower really is the owner of specific assets. However, this check does not reduce the great risk that accompanies the transfer of ownership. The lender largely depends on the honesty of the borrower who holds the collateral.

The subject of the pledge may be the rights of possession and use belonging to the pledgor, including the rights of the tenant, other rights (claims) arising from obligations, and other property rights.

A right with a certain validity period can be the subject of a pledge only until its expiration.

In an agreement on the pledge of rights that do not have a monetary value, the value of the pledged item is determined by agreement of the parties. The fact that when pledging rights (for example, to property), as well as when pledging property leaving it with the pledgor, all responsibility for the safety of this subject of pledge falls on the shoulders of the pledgor, is perhaps the only advantage of this type of pledge.

Disadvantages of pledging rights:

the lender depends on the borrower's honesty;

the validity period of the pledged rights may not coincide with the loan term;

Monetary valuation of pledged rights and their subsequent implementation are difficult. Due to these shortcomings, as well as the lack of a legal framework on this issue, the use of this type of collateral is not widely used in practice.

3.1.6 Hard pledge

One of the reliable ways to protect the property pledged is a firm pledge. In practice, property transferred into a firm pledge is, as a rule, sealed and kept under the lock and key of the pledgee, but on the territory of the pledgor, i.e. The pledgee himself has no right either to use it or to spend it. These conditions regarding the method of safety of the pledged property are stipulated by the parties in the pledge agreement. Moreover, the mortgagor may be assigned additional responsibilities for the safety of the pledged property, including insuring this property against the risks of loss or damage.

The choice can be made between a regular pledge and a mortgage. In the case of a mortgage, the bank has special obligations and rights.

Responsibilities of the bank:

take measures to ensure the safety of the collateral (mortgage) and prevent its damage;

At the same time, under the agreement, the bank can acquire the right to use the subject of the mortgage. Thus, property benefits should be used to cover the costs of maintaining the specified item or counted against the loan.

Possibilities for using the mortgage are limited. This is due to the fact that this option involves the withdrawal of property from economic circulation. On the other hand, not every item of pledge due to its physical characteristics can become the subject of a pledge. Therefore, precious stones, gold and products made from it, currency values, objects of art, and some types of movable property (cars, etc.) are included in the mortgage. In most cases, the collateral remains with the pledgors. But the pledgee has the right to check documents and the actual presence of the pledged item, demand that the pledgor take measures to preserve the property, etc.

3.1.7 Pledge of goods in circulation

With this method of pledge, the pledged item may remain in the possession, use and disposal of the pledgor. Usually, the pledgor has the right to replace some goods with other goods of the same kind, but so that the total value of the goods does not become less than that specified in the contract. In other words, the subject of pledge here is not the goods themselves, but the total value of the goods.

This type of collateral is most often used when lending to trade and supply and distribution enterprises. In this case, the pledgor must keep special records of the disposed items of collateral that are disposed of and those that are received as replacements. At the same time, you need to keep in mind that it is necessary to maintain a mandatory balance for each day.

One of the weak points of this type of collateral should be considered the lack of appropriate means of reimbursing the value of the pledged property in the event of its loss. The design of the agreement for the pledge of goods in circulation involves the replacement of sold goods with other goods acquired from sale. At the same time, there is a danger that the pledgor, having sold the pledged goods, will not be able to purchase new ones instead, which would be covered by the pledge obligation.

3.1.8 Pledge of securities

The subject of the pledge can be bonds, shares, certificates, bills and other securities.

These securities must be owned by the borrower. Only in this case, in accordance with the current legislation of the Russian Federation, securities can be alienated in favor of the bank in the event of failure by the borrower to fulfill obligations.

The valuation of securities is carried out and recorded in the mortgage agreement. To obtain a loan, the borrower enters into a loan agreement, which defines the conditions for the issuance and repayment of the loan, mutual obligations, the responsibility of each party and the guarantees accepted. At the same time, a pledge agreement for securities owned by the borrower is concluded.

The pledged securities are transferred by the borrower to the bank for safekeeping. The bank returns the securities accepted from him for collateral to the borrower from storage only after full repayment of the debt on the loan, interest for its use and penalties.

If the funds received from the sale of the mortgage exceed the amount of the borrower's obligations, then the difference is returned to the borrower.

To obtain a loan, the borrower, in addition to the documents specified in the lending regulations, submits to the bank for consideration the securities against which he wishes to obtain a loan. The bank verifies their authenticity and solvency. For registered securities, it is verified that the borrower is their owner.

Securities transferred for analysis are valued at par.

Before issuing a loan against securities, the bank usually checks:

Authenticity and solvency of the pledged securities;

the possibility of selling securities on the secondary market;

solvency of the issuer;

availability of securities quotation on the stock exchange.

The pledge of registered securities is issued to the bearer.

The size of the loan issued against securities is set at a certain percentage of their collateral value. This percentage is determined by the degree of risk for the bank for each security that serves as collateral for the loan.

For bills of exchange, deposit and savings certificates, bearer bonds and other unquoted securities, the degree of their liquidity must be determined.

There are two methods of lending secured by bills of exchange: discounting of bills of exchange and pledging of bills of exchange.

Discounting of bills is the purchase of them by the bank, as a result of which they are completely transferred to its disposal, and with them the right to demand payment from the drawers. Since the holder of the bill, who presented the bill to the bank for accounting, immediately receives payment on it, i.e. before the expiration of the bill of exchange, then for him this actually means receiving a loan from the bank.

Therefore, discounting bills by banks is one of the ways to provide credit. For such a transaction, the bank charges a percentage, which is called discount interest, or discount.

Commercial banks do not risk providing long-term loans against securities. In addition, they suffer from a lack of long-term credit resources for these purposes. In this regard, at present, in the practice of commercial banks, only short-term loans against securities are used.

The disadvantages of pledging securities are as follows:

the need and complexity of verifying the authenticity of securities and identifying their owner;

the need to register the fact of pledge of securities in the issuer's register;

instability of market prices for securities, as a result - a high risk of loss in the value of the collateral;

not all securities are freely traded on the stock market (difficulty in selling the collateral).

Advantages of this type of collateral:

the repayment period of the securities exceeds the repayment period of the loan provided against their security; - the papers are stored in the bank that issued the loan;

if the securities generate income, then, by agreement of the parties, it can be used to pay interest on the loan;

If the collateral becomes the property of the bank, the securities can be left for the bank's investment portfolio.

3.1.9 Disadvantages of collateral

Despite all its advantages, collateral also has significant disadvantages.

In most cases, it does not give the creditor confidence in the quick and full satisfaction of his claims, since foreclosure on the collateral is most often carried out by court decision. Then follows the implementation procedure, which requires significant funds and time.

Since loan defaulters are usually organizations registered as arrears of payments to the budget and extra-budgetary funds, if there is insufficient funds in their current and settlement accounts, the satisfaction of the claims presented to the debtor is carried out in the order determined by Article 855 of the Civil Code of the Russian Federation.

Often the same property is pledged more than once, and each subsequent creditor-pledgee does not know that his obligation is secured by the pledge of property previously pledged in a pledge agreement, which negatively affects the repayment of the debt by the bank (to subsequent pledgees).

Often, the subject of collateral is illiquid goods in circulation, which, with changes in market conditions, are not always sold or are sold at a loss by debtor organizations, which leads to untimely repayment of the loan or to its non-repayment.

3.2 Surety

.2.1 The essence of the guarantee

The essence of a guarantee is that the guarantor undertakes to be responsible to the lender for the fulfillment of the obligations of the loan recipient. A guarantor who has fulfilled an obligation for a debtor acquires in relation to the debtor (loan recipient) the rights of a creditor under this obligation and the rights that belonged to the creditor as a pledge holder. Unlike a pledge, with a surety another person appears, as a rule, according to the principle of his solvency. The attractiveness of this type of security lies in the fact that the property belonging to the guarantor is added to the property of the loan recipient.

The guarantee agreement must be concluded in writing. The liability of the guarantor and the debtor, as a general rule, is joint and several, i.e. The guarantor is liable to the creditor to the same extent as the debtor. Thus, unless otherwise provided by the guarantee agreement, the guarantor, in the event of non-fulfillment or improper fulfillment of the obligation by the debtor, in addition to the principal debt, is obliged to pay interest to the creditor, as well as to compensate for losses caused in connection with this.

The contract must clearly indicate for whom the guarantee was issued, and data allowing the identification of the main obligation between the debtor and the creditor.

Although the guarantor and the debtor are jointly and severally liable to the creditor, the grounds for their obligations are different. The debtor, for example, is in a loan relationship with the creditor (loan agreement), and the guarantor is in a surety relationship with the same creditor.

The guarantor is also responsible for compensating the creditor for legal costs associated with the collection of debt and other losses (clause 2 of Article 363 of the Civil Code of the Russian Federation).

The obligation of the guarantor to be responsible for the failure of the debtor to fulfill an obligation does not mean that the guarantor assumes all the obligations of the debtor. Often, for objective reasons, he is simply unable to fulfill them. Therefore, the guarantor, as a general rule, has the obligation to compensate for what the debtor has not fulfilled in cash. In this regard, the guarantee has become most widespread in monetary obligations. Although the guarantor and the debtor are jointly and severally liable to the creditor, the grounds for their obligations are different. The debtor, for example, is in a loan relationship with the creditor (loan agreement), and the guarantor is in a surety relationship with the same creditor.

Persons who have jointly given a guarantee are jointly and severally liable to the creditor. Joint guarantors are jointly and severally liable not only to each other, but also to the debtor for the obligation secured by the guarantee. The joint liability of co-guarantors can be eliminated by including a special clause about this in the text of the guarantee agreement. Persons who independently guarantee for the same debtor under different surety agreements do not become jointly and severally obligated towards each other, although they assume joint and several liability with the debtor to the creditor.

3.3 Bank guarantee

A bank guarantee is a written obligation of a credit institution or insurance company, issued to the creditor (beneficiary) and consisting in the payment of a certain amount of money in accordance with its terms and upon the written request of the latter (Article 368 of the Civil Code of the Russian Federation).

Thus, when implementing a bank guarantee, there are three parties:

guarantor (bank, other credit institution or insurance organization) who issues the guarantee;

recipient of the loan (principal), i.e. the person at whose request the guarantee is issued;

creditor (beneficiary), i.e. the beneficiary receiving the specified amount of money.

The fundamental difference between a bank guarantee and all other methods of securing loan obligations is the independence of the guarantee from the obligation that it secures, which means that if the main obligation terminates, is declared invalid or the statute of limitations expires, the guarantee will remain in effect. The bank guarantee must be in writing.

The guarantor bears obligations under the guarantee issued by him regardless of the liability of the main debtor (principal). This explains the rule on the irrevocability of a guarantee and the non-transferability of rights under a bank guarantee (prohibition of assignment). However, it must be borne in mind that the guarantor can change these dispositive norms of the law by establishing a different rule. If the debtor (principal) violates its obligations, the creditor (beneficiary) must contact the guarantor in writing with a demand for payment of the appropriate amount of money.

Upon receipt of a claim, the guarantor is obliged to immediately transfer to the principal all documents received from the beneficiary, including the claim itself. At the same time, he must consider the beneficiary’s request within a reasonable time and with reasonable care (Article 375 of the Civil Code of the Russian Federation).

If the guarantor, when considering the beneficiary's claim, comes to the conclusion that the claim or the documents attached to it do not comply with the conditions of the issued guarantee or the period specified in the guarantee has been missed, he refuses to satisfy the claim and immediately notifies the beneficiary about this.

List of cases of termination of a bank guarantee:

payment by the guarantor of the specified amount;

expiration of the warranty period;

the beneficiary's waiver of his rights by: a) returning the guarantee; b) sending a written application for the release of the guarantor from obligations (Article 378 of the Civil Code of the Russian Federation).

The Bank accepts guarantees (guarantees) only from reliable, financially stable legal entities and individuals. Therefore, he must first make sure of their solvency, both financially and in terms of readiness to fulfill their obligations in the event of a warranty case.

If the financial position of the guarantor is in doubt, the bank must require that its guarantees be secured by a pledge of property. As for ascertaining the guarantor’s readiness to fulfill its obligation, if necessary, in this regard it is practiced to use two means: firstly, collecting, if possible, broad and objective information about the guarantor, secondly, preliminary meetings and conversations with him, during which its conditions and real intentions should be clarified.

Secured loans as the main type of modern bank loan, expressing one of its basic principles. The security can be any property owned by the borrower, most often real estate or securities. If the borrower violates its obligations, this property becomes the property of the bank, which, in the process of its sale, compensates for the losses incurred.

The role of financial guarantor can be legal entities that enjoy sufficient trust from the creditor, as well as government authorities at any level. In a developed market economy, they have become widespread, primarily in the field of long-term lending; in domestic practice, they still have limited use due to the lack of trust on the part of credit institutions not only in legal entities, but also in government bodies, especially municipal and regional levels.

4. Prospects for the development of various forms of ensuring loan repayment

The prospects for the development in our country of various forms of ensuring loan repayment, used in foreign practice, must be associated with an assessment of the risk that each of them contains.

Table 1 Evaluation of the effectiveness of various forms of loan collateral.

Loan repayment security form Number of points Maximum loan amount as a percentage of the security 1231. Mortgage360-802. Pledge of deposits held in the bank that provided the loan.31003. Surety (guarantees) 2 Depending on the degree of creditworthiness of the guarantor (guarantor) up to 1004. Pledge of securities 2 Securities bearing a fixed interest of 70-80, shares 50-605. Assignment of claims for the supply of goods or provision of services.120-406. Transfer of ownership120-50

The highest number of points, meaning the greatest efficiency, have: mortgages and pledge of deposits. In these cases, there is a relatively high maximum loan amount relative to the loan security provided. At the same time, the complexity of mortgage appraisal reduces the maximum loan level. Sureties (guarantees) and pledge of securities received lower scores. The maximum loan amount in the presence of a guarantee and the guarantor’s high creditworthiness can reach 100%; if the creditworthiness of the guarantor is doubtful, the degree of risk increases, and therefore the bank has the right to reduce the amount of the loan provided in comparison with the amount specified in the guarantee agreement or in the letter of guarantee.

5. Problems of secured lending in Russia

In Russia today, secured lending is especially popular, since the risk of lending is quite high.

In Russian legislation, the problems of pledge are regulated primarily by the Civil Code of the Russian Federation (Articles 334-360) and the Law on Pledge, as well as a number of other legislative acts.

According to paragraph 1 of Art. 339 of the Civil Code of the Russian Federation and Art. 10 of the Pledge Law, the pledge agreement must indicate the subject of the pledge and its valuation, the essence, size and deadline for fulfilling the obligation secured by the pledge. It must also contain an indication of which party holds the pledged property.

In some cases, pledged property is subject to state registration. The pledgor is obliged to keep a register of the valuables pledged by him. The pledgor retains the right to dispose of the pledged property, unless otherwise provided by law or the pledge agreement. “The pledgor shall use the pledged item in accordance with its purpose, including extracting fruits and income from it.” Moreover, its right of use is limited by the rights of the mortgagee.

At the expense of the pledged property, the pledgee has the right to satisfy his claims in full, determined by the time of actual satisfaction, including interest, losses caused by delay in execution, and in cases provided for by law or contract - a penalty; The necessary costs of maintaining the pledged property and the costs of implementing the claim secured by the pledge are also subject to compensation. “The sale of... mortgaged property, which... has been foreclosed on, is carried out through sale at public auction...”. At the request of the pledgor, the court has the right to postpone the sale (of the pledged property) at public auction for up to one year. The postponement does not affect the rights and obligations of the parties under the obligation secured by the pledge of this property, and does not relieve the debtor from compensation for the creditor's losses and penalties that have increased during the postponement. The initial sale price of the pledged property is determined by a court decision or an agreement between the pledgee and the pledgor (in the case of an out-of-court sale). The pledged property is sold to the person who offers the highest price at the auction.

If the auction is declared invalid, the pledge holder has the right, by agreement with the pledgor, to purchase the pledged property and set off against the purchase price his claims secured by the pledge... If the repeated auction is declared invalid, the pledge holder has the right to retain the subject of the pledge with an assessment of no more than ten percent lower initial selling price at repeated auctions. If the pledge holder does not exercise the right to retain the subject of pledge within a month from the date the repeated auction is declared invalid, the pledge agreement is terminated.”

Please note that these mechanisms contain a trap for the pledgee if there is possible collusion between the pledger and the court. In one case, the court may set a ridiculously low price for the mortgaged property. If there is no fair auction of buyers, then the creditor will receive much less than the amount that he gave to the debtor at the time. In another case, the court may set, on the contrary, an inflated price.

No one buys the collateral, and the creditor can keep the property. If the collateral has dropped significantly in value during the term of the collateral agreement, then the creditor will have to be satisfied with this collateral and value it much higher than it is actually worth. His possibilities for an additional claim against the debtor are quite limited.

Let us therefore draw attention to a number of articles of the Civil Code of the Russian Federation: “If the amount received from the sale of the pledged property is insufficient to cover the claim of the pledgee, he has the right... to receive the missing amount from the other property of the debtor, without taking advantage. Thus, a creditor who is not satisfied with the amount received from the sale of property loses his advantages over other plaintiffs of the debtor.

“If the amount received from the sale of the pledged property exceeds the amount of the pledgee’s claim secured by the pledge, the difference is returned to the pledgor.” Thus, we see that the law in Russia protects the debtor to a greater extent, rather than the creditor. This is another point that creates problems in the way of lending in Russia. In Russia, during bankruptcy, creditors' claims are satisfied on average by only 3-7%, while in developed countries - by 80-95% (Kommersant Daily. 2002. No. 24).

Some articles of the Code are designed to protect the creditor. According to paragraph 1 of Art. 351 of the Civil Code of the Russian Federation “The pledgee has the right to demand early fulfillment of the obligation secured by the pledge in the following cases:

If the subject of the pledge has left the possession of the pledgor, with whom it was left, not in accordance with the terms of the pledge agreement;

Violations by the mortgagor of the rules on the replacement of collateral...

Loss of the pledged item due to circumstances for which the pledgee is not responsible...".

6. Secured lending: Foreign experience and Russian reality

As evidenced by world experience, collateral is one of the most reliable ways to secure credit obligations. The subject of the pledge can be any property owned by the pledgor: debts, buildings, land, vehicles, etc. Same as the Central Bank, deposits in the bank. Whatever its type, it is a guarantee of goods in circulation and processing. It is also possible to pledge property rights. The banking practice of leading Western European countries and the United States has increased at a particularly rapid pace over the past two decades. b volumes of transactions with loans secured by individuals and companies, with mortgage, consumer and other types of collateral. Investment banks have also begun to actively resort to collateral lending. Thus, over the past 10-15 years in the United States, investment lending secured by fund values ​​has become widespread. As collateral, the client deposits his securities in the investment bank (usually in the amount of at least 20 thousand dollars), which allows him to receive a loan from the bank.

The maximum size of such a loan is determined by the resolution of the Board of Governors of the Federal Reserve System on loans secured by stock values ​​and the loan must not be give up 50% of the collateral value of the Central Bank. Such collateral lending is usually accompanied by the opening of a cash management account at an investment bank. This means that the firm must not only provide the bank with collateral in the form of securities, but also own a share in a money market mutual fund and a checking account at a commercial bank. And when an investor spends money, he pays by check, reducing his current money market contribution. If all of its funds deposited in the bank and money market funds are exhausted, the investment bank automatically lends money from the secured loan account. All income of the borrower is transferred to the bank account. Thus, the optimal combination of various forms of collateral lending, on the one hand, allows the company to freely operate with its own financial resources and a collateral loan, and on the other hand, guarantees a return to the bank. Financial statistics for 1994 indicate a steady increase in overdue debt to commercial banks. This primarily applies to ruble loans, but lately there have been arrears on foreign currency loans. The current situation encourages banks, primarily those belonging to the highest category of reliability, to look for types of collateral that can guarantee the repayment of issued loans. For example, Sberbank of Russia works with all types of collateral, but prefers collateral for goods over collateral for real estate. Unlike most commercial banks, which are afraid to lend to enterprises, Sberbank provides investment loans for a period of 3-5 years ranging from 30 billion rubles. secured by the fixed assets of the enterprise. Secured lending to Russian banks is carried out in the most liquid form - mainly secured by foreign currency deposits, Central Banks, bills of exchange, and goods.

In world practice, one of the common forms of bank loans secured by the Central Bank is a pawnshop loan, that is, a loan in a firmly fixed amount provided by a creditor bank to a borrower secured by property or property rights (including goods, distribution documents, jewelry). In Russia, subscription to shares of industrial companies and banks has become widespread. In this case, banks act as brokers for the sale of shares and at the same time provide a portion of potential subscribers with a loan secured by the purchased shares. And if individuals fail to repay on time the loan issued to them for the purchase, the bank has the right to sell these shares. Standardization and certification of financial and banking technologies is becoming an increasingly pressing issue of legal practice and international recognition of the quality of financial services, a tool for stimulating the competitiveness of financial services, a tool for stimulating the competitiveness of financial services and protecting the property rights of financial market entities, the object of close attention of commercial banks and credit institutions, authorities licensing their activities. International and national organizations, corporations of commercial banks, investment funds, financial telecommunications and associations of certification centers interested in the independence and objectivity of the work being carried out take part in the work on standardization and certification of financial and banking technologies.

The International Organization for Standardization (ISO), the European Committee for Standardization, etc. work most effectively. Currently, a non-departmental Banking Technologies Certification System operates in Russia. The object of certification is financial services and banking technologies - an ordered set of functionally and informationally interrelated works and processes, provided with the necessary resources and aimed at achieving the efficiency of banking operations. Objects of certification are determined by certification testing methods.

Consumers of certification are commercial banks, credit institutions and their suppliers.

Methodological and instrumental support is focused on the standardization of mandatory requirements for financial services and banking technologies based on the results of certification of quality systems, on the transition from voluntary certification of quality systems to mandatory certification of compliance of services with the requirements of legal metrology. The results of certification in an independent certification system will undoubtedly increase the prestige of a commercial bank among depositors, and therefore its competitiveness.

Standardization, certification and metrological support in banking

International banking practice offers financial market entities more than three hundred types of services and various methods of implementing financial technologies. Domestic practice of banking operations and technologies does not yet allow offering financial market entities the full range of internationally accepted and competitive financial services. At the same time, domestic legislation on the protection of consumer rights, standardization, certification of products and services, and ensuring uniformity of measurements makes it possible, within the framework of state antimonopoly policy, to stimulate the growth of the competitiveness of financial services of commercial banks and credit institutions in Russia using new methods.

Russia has an excellent tool that allows banks and credit institutions to realize their interests - legal metrology. Unity of measurements is the object of standardization of mandatory requirements and a prerequisite for mandatory certification of financial services and banking technologies for compliance with metrological requirements, a fulcrum in competition with foreign partners and in the domestic market. The infrastructure of territorial bodies of Gosstandart, which carries out the functions of state supervision over compliance with the mandatory requirements of state standards and uniformity of measurements, becomes an assistant to commercial banks and credit institutions and their clients.

Leading commercial banks in Russia and the Association of Russian Banks have specialists and financial resources; interested in work on standardization and certification of financial services, financial and banking technologies, technical systems and means of supporting them; carry out this work with the involvement of consulting firms and are concerned that the lack of a unified state coordinated state policy of standardization and certification in this area of ​​the economy significantly reduces the efficiency of the work carried out, delays the implementation of state antimonopoly policy in the field of standardization and certification, aimed at protecting consumer rights and stimulating competitiveness domestic commercial banks and credit institutions in the international financial services market, Russia’s accession to the international banking community.

Conclusion

In general, the existing credit system is an updated system, in which, however, both old and new forms of loan repayment still coexist and lay the basis for the development of entrepreneurship both in the economy and in the banking sector.

And from everything considered and studied, we can say that loan repayment is a fundamental property of credit relations, distinguishing them from other types of economic relations, and in practice finds its expression in a certain mechanism. This mechanism is based, on the one hand, on the economic processes underlying the repayment movement of the loan, on the other hand, on the legal relations of the lender and the borrower, arising from their place in the credit transaction. A credit mechanism that organically includes these forms allows the bank to strengthen its independence and thereby reduce credit risk.

A credit transaction involves the creation of an obligation to the creditor to repay the corresponding debt. Specific practice shows that the presence of an obligation (in various forms) does not yet mean a guarantee and timely return. From what has been studied above, we can say that the form of ensuring the repayment of a loan should be understood as a specific source of repayment of the existing debt, legal registration of the creditor’s right to use it, and the organization of the bank’s control over the sufficiency and acceptability of this source.

A sign of the modern enterprise lending system is the transition to precisely those forms that to a greater extent guarantee the repayment of a bank loan. The current system takes into account the client’s creditworthiness, which reduces the risk of late loan repayment. Pledge, as we found out, is one of the most common forms of ensuring the repayment of a bank loan. The central place in the legal content of the collateral mechanism belongs to the definition of the right of ownership, possession, disposal and use of the pledged property. In Russia, the legal basis for the collateral mechanism is determined by the Law “On Pledge”, according to which:

a) the right of ownership to the pledged property belongs to the borrower;

b) the borrower’s possession of the pledged property can be direct or indirect;

c) the pledge may be accompanied by the right to use the pledged items in accordance with its purpose;

Another important form of ensuring loan repayment is guarantees and guarantees. In this case, property liability is borne by the borrower, as a rule, by a third party. In relation to legal entities, a guarantee, unlike a guarantee, is formalized by a written agreement between the bank and the guarantor. In accordance with it, the latter undertakes to repay the borrower's debt to the lender within a certain time.

Thus, creditors have at their disposal a variety of ways to ensure the repayment of a bank loan.

Which method should be applied in practice depends on a wide variety of factors, including: legal security for the possibility of using specific forms; the lender's previous experience in this area; the possibility of attracting qualified lawyers specializing in certain forms of security; real possibilities of the lender and borrower, etc.

All legal methods of security are good if they lead to the achievement of the ultimate goal - repayment by the debtor of the principal amount of the bank loan with interest.

List of used literature

1.wikipedia.ru

2.O.I. Lavrushin "Banking", 2010

.O.I. Lavrushin "Money, credit, banks", 2008

.D. Kandaurova "Credit security: place and role in credit policy", 2006

.V. Semenikhin "Ensuring the fulfillment of obligations: pledge and surety", 2007

.Law on Banks and Banking Activities

.A.V. Kaltyrina "Activities of commercial banks", 2009

.G.G. Korobova "Banking", 2007.

26.02.2015

The most effective and common way to secure a loan is collateral. The popularity of issuing a secured loan can be explained by the fact that this is the safest way of lending without risk.

The essence of the collateral method of securing a loan is that instead of intermediaries, the client provides his named property for assessment. This is done for the purpose that if the client could not fulfill his obligations and repay the loan on time, the previously described property becomes the property of the lender. The lender can then do whatever they want with the property.

Loans secured by property

Lending secured by property can be considered from two sides: from the lender (bank) and from the client. In order not to consider the same process from both sides, we suggest considering lending secured by the client.

The advantage of taking out a loan against collateral is that the client has the right to change the composition of the previously pledged property at any time. If this is explained differently, it turns out that when a secured loan is issued, the client has the right to sell in circulation the goods described as part of the pledged property. Property is not subject to pledge only from the moment it comes into the official possession of another person. But in return, from the written-off collateral of the property of the sold item, the list is supplemented with new acquired property of the client.

The disadvantage of taking out a secured loan is the market assessment of the value of the client’s property. Since if the mortgagor does not fulfill the terms of the loan specified in the agreement, he suffers quite good losses. This can be understood from the list below, which shows the average correction factors. These coefficients serve for a faster and more immediate sale of property that the lender received as a result of the client’s failure to fulfill the contract.

Correction factors

• real estate objects (buildings and structures, unfinished capital structures, individual premises in buildings) – 0.8;
• equipment – ​​0.7;
• computer and office property, personal property of the client – ​​0.6;
• shopping pavilions (if they are registered as temporary structures) – 0.6;
• vehicles – 0.7;
• sales/production goods (raw materials, manufactured products, ready-to-sell products, etc. (the price of such goods is usually taken as the purchase price of goods/raw materials excluding VAT)) – 0.6.

Sale of collateral

Next, a property valuation expert is hired. Often both parties (lender and client) try to find some kind of independent appraiser. This is necessary to avoid various controversial situations on both sides.

In many cases, lenders do not trust the appraisers hired by the client. They explain this by saying that this may be a person bribed in advance, as a result of which a deliberately inflated market value of the property will be given. In more rare cases, clients have such claims against lenders.

Once the parties have decided which expert to hire, the question of paying for the appraiser’s services usually arises. Despite the fact that the cost of professional property valuation services is small, in frequent cases banks refuse to undertake payment for these services, indicating this in the contract.

Cost of property being sold

The market value of the property when applying for a loan is the amount by which the property can be sold almost immediately. Consequently, the price of the client's described property is quite well underestimated. In turn, this means that it is very unprofitable for the borrower to violate the terms of the agreement.

After the expert has assessed the property, the mortgagee calculates the amount that he can give to the mortgagor. The loan amount is the product of the market value of the property and the adjustment factor.

A simpler form of recording the calculation of the loan size:

A * B = C,
where A is the market value of the property, B is the correction factor, C is the amount of the secured loan.

Additional considerations regarding collateral

Another disadvantage of taking out a secured loan is that if the client fails to comply with the terms of the contract, he will be charged the costs of the auction. An auction is the process of a bank quickly selling property obtained as a result of the borrower’s failure to fulfill the terms of the agreement.

However, if the client is confident that he will be able to repay the loan received on time specified in the agreement, a secured loan is the most optimal way for him. Even if we take into account that the process itself is a little lengthy due to the process of assessing the borrower’s property.