Cash turnover refers to the totality of payments that are made using cash. Cash circulation is a special area of ​​money circulation. The features of this turnover are: firstly, that it is limited: secondly cash sphere money turnover strictly regulated by laws and regulations; thirdly, the share of this sphere in the entire monetary turnover is determined by the general state of the economy; fourthly, payments for the entire money supply. In the crisis situation in Ukraine, the growth of the sphere of cash circulation is characteristic due to the fact that it serves mostly shadow circulation.

The main regulatory act that regulates cash turnover, is the Instruction "On maintaining cash transactions banks of Ukraine" dated June 1, 2011, as well as instructions approved by the NBU resolution "On the organization of work with cash circulation by Ukrainian banking institutions." According to these instructions, the regulation of cash payments is within the powers of the NBU.

A voucher at bank institutions can be obtained by a business entity for settlements with the population for wages, cash payments and incentives that are not included in the money that is allocated for consumption, assistance, compensation, fees, scholarships, pensions, business trip expenses, purchases of agricultural products and products of its processing of animal and plant raw materials, wild fruits and berries, medicinal plants, waste paper, scrap metal, insurance compensation from pawnshops carrying out exclusively pawnshop operations.

The cash that an enterprise or organization receives to pay salaries and scholarships is kept in the cash registers for three working days, agricultural and railway enterprises - five workers days, including the day you receive cash from the bank. After these deadlines, the money is returned to the banking institutions.

Enterprises that have cash revenue can leave cash in their cash registers to pay for labor for no more than three working days, and agricultural organizations - no more than five working days. Communications companies are allowed to pay salaries to their employees from current cash receipts. Issuance of cash by the enterprise for salaries, stipends and monetary allowance military personnel, carried out by banking institutions within the time limits established in accordance with:

a) collective agreements;

b) government regulations;

c) orders central authorities executive power;

d) instructions from the NBU board.

Cash received from the bank is used inclusively for its intended purpose. The purpose of receiving cash is not indicated only on Department of Defense checks. Ministry of Internal Affairs. SBU.

Another feature of cash circulation is the establishment of a limit on the balance in the cash register of each enterprise. Balance limits are established for each enterprise by commercial banks at the place of opening a commercial account, taking into account the regime and specifics of the enterprise, its distance from the bank establishment, the arrival schedule of the collector, the size of cash turnover and other conditions. Limits are required. The NBU has established fines in the amount of fifty times the non-taxable minimum for each case of non-compliance with the cash balance limit by a bank institution. The fine is collected by the tax administration at the direction of the NBU. The cash balance limit is not established individuals: entrepreneurs and farmers.

Cash issuance for current needs is carried out by banking institutions in sums ordered by clients, but in the manner and amount determined by the current procedure for organizing payments in national economy Ukraine. Cash is issued to banks only if there are appropriate justifications; banks are entrusted with the function of monitoring the intended use of cash. If doubts arise regarding a client’s need for cash or if there are previously identified violations of cash discipline, banking institutions can check the primary documents of these clients.

Strictly controlling the issuance of cash, banking institutions systematically analyze the state of cash receipts, take measures to attract free funds from the population into deposits, expanding non-cash transfers cash income citizens at their request for deposits in banking institutions. Cash is accepted by cash registers according to a cash receipt order signed by the chief accountant or a person authorized for this action.

Internal affairs bodies, within their competence, check the technical equipment of cash registers and cash points that provide conditions for the protection of money and valuables, as well as their response to instructions regarding the elimination of the causes and conditions that provoke theft. These instructions are subject to mandatory compliance. Cash documents may be confiscated from an enterprise by order of investigative or judicial authorities, requests from arbitration or higher organizations.

The issuance of money from the cash register that is not confirmed by the recipient's receipt in the cash receipt order or in another relevant document to justify the presence of a cash balance in the cash register is not accepted. This amount is considered a shortage and is collected from the cashier. Cash is not justified by cash orders, is considered a cash surplus and is included in the income of this legal entity. Banking rules prohibit the storage of cash and other valuables in the cash register that do not belong to this legal entity. Accountants do not have the right to perform the duties of a cashier. For violation of norms regulating cash flow, subjects of all forms of ownership, individuals - citizens of Ukraine, foreign citizens, stateless persons engaged in entrepreneurial activities. The basis for prosecution is the results of data verification accounting institutions or primary monetary documents for a certain period - a quarter, a half-year, but not less than two months.

Another feature of cash circulation regulation is forecasting.

The cash circulation forecast establishes the size and sources of cash receipts at bank cash desks, the size and intended use of cash issued from bank cash desks, the size of the issue of money into circulation or its withdrawal from circulation in the country and regions as a whole.

The forecast is compiled on the basis of an analysis of the dynamics of reported indicators of cash turnover, as well as forecast and reporting balances of cash income and expenses of the population.

The balance of cash income and expenses is a balance sheet form of displaying the processes of creating cash income of the population and their use for a certain period of time.

Developed:

- forecast balance of cash income and expenses - for the future (by the Ministry of Economy);

- reporting balance of monetary income and expenses of the population for previous period(State Statistics Committee of Ukraine with the participation of the NBU).

During the period of compiling the balance sheet, the regional departments of the NBU provide the regional statistical authorities with reporting information on the cash turnover of banks.

Forecasts of cash turnover are compiled based on indicators of economic and social development at the regional level, taking into account the main directions of state monetary policy.

The forecast of cash turnover is compiled according to the following sources of income and directions for issuing cash: receipt:

Receipts of trading proceeds;

Receipt of revenue from all types of transport:

Receipt of rent and utility payments;

Proceeds from entertainment events;

Receipts of consumer service enterprises;

Receipts to the accounts of collective agricultural farms;

Receipts to citizens' deposit accounts;

Receipts of communications enterprises;

Proceeds from sale foreign currency;

Other receipts (including returns wages);

Reinforcement of the working cash register from reserve funds, issuance of:

Issuance of wages, cash payments, incentives and other payments not included in the wage fund;

Issue for the purchase of agricultural products;

Issuance from the accounts of collective agricultural farms;

Issuance of pensions, assistance and insurance contributions;

- issuance for the purchase of goods, payment for services and for the performance of work;

Issuance of money for the purchase of foreign currency;

Issuing reinforcements to communications enterprises;

Issuance for other purposes;

Transfer from the working cash register to reserve funds.

To compile cash turnover, regional departments of the NBU receive from executive authorities and statistical authorities all the necessary reporting and forecast materials.

To determine the need for cash, commercial banks, at their discretion, can use the methodology for drawing up forecast regional calculations for individual items.

The calculation methodology and calculation forms will be described in subsequent topics. It is also worth highlighting two groups of settlements that have historically developed in business practice: inter-farm settlements and interbank settlements. Inter-farm settlements occur mainly in non-cash form. Carried out between subjects market structure- enterprises and organizations that conduct their activities on the basis of different forms of ownership. Interbank settlements refer to the making of payments between various commercial banks and NBU institutions.

This division of payments into two large groups became necessary in the context of the transition of the Ukrainian economy to market economic mechanisms, when

democratic organization of banking, and commercial banks became independent units with an independent balance sheet, on the basis of which they determine financial results own activities. In these conditions, commercial banks are fully responsible for their liquidity and solvency. The concept of liquidity of a commercial bank means the bank’s ability to timely and fully ensure the fulfillment of its debt and financial obligations to all counterparties, which is determined by the availability of sufficient equity capital of the bank, the optimal placement and amount of funds in the assets and liabilities of the balance sheet, taking into account the relevant deadlines. In other words, the liquidity of a commercial bank is based on the constant support of the objectively necessary ratio between its three components - the bank’s own capital, funds attracted and borrowed by the bank, by operational management their structural elements. The liquidity of the bank largely determines its solvency, that is, the ability to make a payment before the specified deadline. Taking these circumstances into account, commercial banks carry out mutual settlements among themselves, as well as in relations with the NBU.

Introduction

The economy of any country cannot do without cash. The experience of all countries shows that, regardless of the level of development of the market economy and the predominance of non-cash payment instruments in monetary systems, cash circulation continues to occupy a certain place.

Cash circulation in Russia has the following features:

Large share of cash in the money supply (more than 30%);

A significant amount of cash payments, which allows you to evade taxes;

Weak control on the part of credit institutions (including on the part of bank service organizations) over the cash discipline of organizations;

Dollarization of cash turnover (use of foreign currency in circulation).

Despite the fact that the volume of cash turnover is significantly less than non-cash turnover, its importance in organizing normal economic relations in the economy is great. It is in the sphere of cash circulation that the final sale of goods created in the national economy takes place and the quality of the connection between social production and personal consumption is checked. Due to such reasons, the normal circulation of money in the economy and the stability of its purchasing power largely depend on the state of cash flow.

Cash is an important component monetary system Russia, from which to a large extent its sustainable functioning depends. There are no real grounds to assume that the importance of cash in the life of Russian society may weaken in the foreseeable future. This is the relevance of the topic of the work.

The purpose of this course work is to reveal the basic principles of organization and current state cash turnover in Russia. The object of the course work is the cash turnover of Russia.

1 Theoretical aspects cash flow and its organization

1.1 Essence and structure of cash turnover

With the development of commodity production, the state used the objective opportunity and necessity of issuing money with a forced exchange rate to cover its expenses.

Cash circulation is an integral part of money circulation within the national economy. It is realized as a constant circulation of cash in the economy. The volumes and speed of circulation, the motivation for cash transactions of all participants in money circulation reflect the needs of society as a whole and its individual citizens. Cash turnover is the movement of money in cash when selling goods, providing services and making various types of payments.

For cash payments, banknotes issued by the central bank, which has a monopoly on their issue, are used.

Cash turnover is defined as a part of cash turnover equal to the sum of all payments made in cash for a certain period of time. Cash turnover in all countries, regardless of the level of economic development, constitutes a smaller part of cash turnover, but has important functional significance.

Only cash as legal tender is required to be accepted at face value for all types of payments throughout the state at any time of the day and in unlimited quantities.

In the sphere of cash circulation, the final sale of produced goods, works and services takes place, and the correspondence of supply and demand is checked. The state of cash flow largely depends on purchasing power national currency.

Cash circulation is a process of continuous movement of cash banknotes issued by the central bank of the country (banknotes and small change), during which banknotes primarily perform the functions of a medium of circulation and a means of payment.

The scope of use of cash payments is mainly related to the sale of household income. In cash, settlements between enterprises, organizations and institutions with the population, as well as between individual citizens in commodity and food markets, partial settlements between the population and the financial and credit system, and limited payments between enterprises are made.

In countries with a developed market economy and banking system, the share of cash payments in the total money turnover does not exceed 3–8%. This is achieved by transferring wages of workers and employees to bank accounts.

The structure of cash turnover involves the inclusion of certain cash flows between subjects of monetary relations, or money turnover:

1) between the central bank system and the system of commercial banks;

2) between commercial banks, between banks and their clients;

3) between organizations, between organizations and the population;

4) between individual citizens.

Four consolidated cash flows allow you to trace the level and stages of organizing cash flow.

The first stream fixes the monopoly of the central bank on the issue of cash in circulation, linking cash circulation with the processes of supplying banks with cash from the central bank and its collection (receipt) at the central bank. Cash issued by the central bank goes either directly to the operating cash desks of commercial banks or to the cash desks of organizations (primarily trade organizations and organizations providing services to the public).

The second stream covers the area of ​​cash collection from clients of commercial banks and supplying these clients with the necessary cash. This cash flow regulates central bank using the rules he sets. On their basis, commercial banks carry out their cash transactions related to cash. This turnover ensures the receipt and servicing of the expenditure of cash income of the population. Banks can transfer some cash to each other for a fee, but most of the money is issued to clients: either to the cash desks of organizations or directly to the population. The population also uses cash for mutual settlements, but most of it is spent on paying taxes, fees, insurance payments, utility bills, repaying loans, purchasing goods and paying for various paid services, purchase securities, lottery tickets, rent payments, payment of fines, penalties and penalties, etc.

The third stream provides cash services to the population through banks and organizations. Cash turnover between organizations is insignificant, since the bulk of payments are made non-cash. For each organization, limits are set for the balance of cash in the cash register, and money exceeding the limit must be handed over to the servicer. this organization commercial bank. Part of the cash in the cash registers of organizations is used for settlements between them, but the majority is transferred to the population in the form of various cash incomes (salaries, pensions and benefits, scholarships, insurance compensation, dividends, proceeds from the sale of securities, etc. ).

The fourth stream appears when using cash, when payment is made by simply transferring a currency note to the payee. At the same time, no technical means are required for the two parties to the transaction. There is also no requirement to notify a third party and obtain their confirmation of the right to complete a transaction. The recipient of the payment, whoever he is, can immediately spend the money received.

IN modern conditions This cash flow leads to the emergence of “shadow” turnover. Huge amounts of cash, primarily in the form of banknotes of large denominations, are used in the “shadow” economy to carry out illegal activities, evade taxes, as well as in transactions with drugs and weapons, in the gambling business, to serve the activities of criminal groups, etc. At the same time, practice shows that, despite the vulnerability of cash as a means of payment from counterfeiting, the percentage of counterfeit banknotes detected during the processing of cash received from payment circulation is insignificant.

The scheme of cash turnover in Russia can be presented as follows (Figure 1)

Figure 1 – Scheme of cash turnover (using the example of Russia)

The diagram shows that cash circulation begins in the cash settlement centers of the Central Bank of the Russian Federation. Cash is transferred from their reserve funds to circulating cash, thereby entering circulation. From the working cash desks of the RCC, cash is sent to the operating cash desks of commercial banks. Part of this money serves interbank settlements, part is sent as loans to other banks, but most of the cash is issued to clients - legal entities and individuals (either to the cash desks of enterprises and organizations, or directly to the population) serviced by this commercial bank.

Part of the cash in the cash registers of enterprises and organizations is used for settlements between them, but most of it is transferred to the population in the form of various types of cash income (salaries, pensions and benefits, scholarships, insurance compensation, dividend payments, proceeds from the sale of securities and etc.)

The population also uses cash for mutual settlements, but most of it is spent on paying taxes, fees, insurance payments, rent and utility bills, repaying loans, purchasing goods and paying for various paid services, purchasing securities, rent payments, paying fines, penalties and penalties, etc.

Thus, money goes either directly to the operating cash desks of commercial banks, or to the cash desks of enterprises and organizations (primarily trade enterprises and enterprises providing services to the public).

1.2 Fundamentals and principles of organizing cash circulation

The task of the central bank in organizing cash circulation is to ensure its stability, elasticity and efficiency. Therefore, cash circulation is the subject of careful forecast planning by the central bank and statistical authorities. Cash circulation is managed centrally through the activities of the central bank and its divisions. To solve this problem, the central bank requires credit institutions to comply with:

The established procedure for conducting cash transactions;

Rules for organizing the receipt of cash in their cash registers;

Rules for organizing the receipt of cash from their cash registers;

Their cash balance limit (the minimum allowable cash balance in the operating cash register at the end of the day);

Procedure for payment in cash;

Cash payment limit (limit between legal entities).

The organization of money circulation largely depends on the conditions and procedure for using money by enterprises, which is regulated by special regulations.

All organizations participating in economic turnover must keep cash (except for the part established by the limit) in commercial banks. Credit institutions (banks) have cash balance limits for organizations of all forms of ownership. Organizations can receive cash only from the banks that serve them.

The targeted use of cash by participants in cash circulation remains the defining principle of organizing cash circulation. Compliance by clients with this principle is reflected in the mandatory notification by clients about the directions of use of the money received from the bank. sum of money, and the bank verifies the authenticity of this message. The organization informs about the purpose of receiving cash in a cash receipt - the main expense cash document jar. Cash receipts bound in check books are issued to customers upon opening a bank account.

The implementation of these settings allows us to form the basis for a stable organization of cash turnover.

In organizing cash circulation, an important role belongs to credit institutions (banks). In the circulation of cash that ensures the exchange of goods, the bank is the starting and final point of the movement of money.

Credit institutions issue cash to legal entities only from settlement, current or budget accounts. Cash from these accounts is issued for salaries and payments social nature, scholarships, pensions, benefits, purchase of agricultural products from the population, for insurance compensation, for other settlements with individuals, current economic needs, as well as for travel expenses.

Cash received at the cash desks of organizations must be handed over to banking institutions for subsequent crediting to the accounts of these organizations. Cash enters the circulation sphere from the bank's cash desk in the form of payment of wages or for other cash payments.

Operations for crediting cash proceeds to bank accounts and issuing cash for various purposes in banking practice defined as cash. According to the balance sheet result and purpose, cash transactions are income or expense.

At the cash desks of organizations, cash is stored within the limits established by the banking institutions that serve them in agreement with the heads of these organizations. The cash balance limit is the limit on the amount of cash that can be kept in the cash register for emergencies. The limit is determined for each organization, even those that do not have constant cash revenue.

All funds in excess of the organization's limit are required to be handed over to banking institutions for crediting to the account of this organization. In excess of the limit, you can store cash for no more than a certain number of days only for the payment of wages.

Simultaneously with the approval of cash standards, the bank approves the procedure and deadline for submitting proceeds to the bank for this organization. Through the bank's cash desk, revenue comes directly from a representative of the organization. The work of the cash desk is organized so that bank clients have the opportunity to deposit proceeds during the operating day (day cash desk) or after the operating day (evening cash desk). The bank can organize the operation of a cash register in places where there is a concentration of organizations with constant cash receipts (special cash desks).

Collection, as a division of a commercial bank or as an independent organization, ensures the transportation and protection of proceeds from the place of receipt to the bank. As a rule, trade organizations, transport and entertainment organizations whose daily revenue is quite large are collected.

By agreement with the bank, the cash proceeds received at the cash desk are spent for the purposes provided for by laws and other legal acts. Decisions on how organizations spend cash proceeds are made by banks annually on the basis of written statements from organizations, taking into account their compliance with the procedure for working with cash, the state of settlements with the budget, extra-budgetary funds, suppliers, as well as with bank institutions for loans.

Any legal entity - a client of this bank, can receive cash from a bank if there is this amount in its account. Client account balance - prerequisite expense cash transaction, with the exception of payments due to overdraft.

The question of how much cash is needed for circulation is quite complex. For a long time, many scientists have tried to quantify the amount of cash in circulation necessary for economic development. Forecasting cash turnover is an important area of ​​activity for the central bank. These activities can be carried out in a centralized or decentralized manner.

In relation to Russia, a centralized procedure means drawing up a forecast of cash turnover for the quarter in regions, territories, districts and throughout the country as a whole. Based on the forecast of cash turnover, the volume of cash receipts, sources of cash receipts at the cash desks of commercial banks, directions for issuing cash, their release or withdrawal from circulation are determined.

After credit institutions have compiled forecast calculations for cash inflows and outflows, the results are reported to the Bank of Russia RCCs, in which correspondent accounts are opened. RCCs use calculations to make forecasts for strengthening the working cash register. They summarize the information and report it to the territorial institutions of the Bank of Russia, which also summarize this information and transmit it to the relevant departments of the Bank of Russia for information. At the same time, territorial branches of the Bank of Russia conduct an appropriate analysis of the information received.

The objects of analysis are:

Trends in cash turnover and its structure;

Sources of cash receipts to the cash desks of commercial banks and directions for their issuance from the cash desks of these banks;

Speed ​​of return of cash to the cash desks of bank institutions;

Index change consumer prices;

The state and development of non-cash payments between legal entities and individuals;

Level of collection of cash proceeds;

Territorial distribution of the issue of money into circulation and its withdrawal from circulation, reasons for the growth of emission;

Bank control results or tax services monitoring compliance by organizations with the procedure for conducting cash transactions and working with cash;

Changing the directions of use of funds, including by legal entities, for wages.

The results of the analysis are used in drawing up a forecast of cash turnover, developing and implementing, together with banks, practical measures to improve the organization of cash circulation, reducing money issue.

Analysis of cash flow and subsequent forecasting make it possible to establish effective control over compliance with the requirements for organizing cash flow.

1.3 Problems of organizing cash circulation

A sharp increase in cash turnover leads to an increase in government costs for the circulation, transportation, storage of cash, as well as the replacement of worn-out banknotes.

Carrying out settlement and cash transactions, banks of the Russian Federation regulate the volume of cash money supply and its circulation. The amount of money in circulation is also controlled by the Central Bank of the Russian Federation, influencing the activities of commercial banks in cash transactions that do not have the right to issue funds, only within the limits of the resources they attract. In conditions of limited resources, many commercial banks cannot fully provide cash and non-cash services to the population and legal entities, which leads to loss of benefits from these operations.

Cash turnover is also characterized by increased risk: counterfeiting of banknotes, computational errors of cash services, a significant volume of cash transactions, etc. Such risks lead to disruption of cash settlement work in credit institutions and a decrease in the efficiency of these operations.

In addition, cash turnover requires significant costs for receiving, storing and transporting cash, maintaining a large staff of specialists and controllers.

For cash services, legal entities must submit a number of documents (constituent documents, cash plan, forecast of cash receipts and others) to prevent possible illegal actions, but the collection and registration of these documents in most cases is delayed, which complicates the organization of cash services. Quite a significant amount of paperwork complicates the procedure for receiving and depositing cash and makes the non-cash form of payment the most attractive.

Cash and non-cash turnover passes through the cash desks of banks in quite a large volume - many types of settlement transactions (payment utilities, depositing cash into open bank accounts, money transfers, payment for services of government and other organizations, etc.), on certain days queues arise due to a lack of time to serve the population, which leads to a complication of the work of cash settlement services and an increase in customer dissatisfaction.

In addition, one of the main problems in organizing cash and non-cash turnover in any country is inflation. Particularly negative factors of inflation are manifested in the depreciation of capital in cash and non-cash forms, in the fall purchasing power, in the ruin of uncompetitive enterprises, in general economic crisis. Cash turnover and non-cash funds is always associated with the risk of not receiving the expected amount of profitability both for the state as a whole and for an individual entity. In addition, inflation deprives banks of the opportunity to attract long-term time deposits Therefore, to carry out non-cash turnover in ever-increasing amounts, they must use their own capital.

The reasons for the deepening crisis of cash and non-cash circulation largely lie in the continuing unfavorable general economic situation in the country, which is aggravated by an acute crisis of non-payments.

2 Analysis of the current state of cash turnover in the Russian Federation

Modern monetary circulation is a collection of funds that come in two forms: cash and non-cash. Money is made up of several components called monetary aggregates. The sum of all aggregates is called the money supply.

A monetary aggregate is a group of liquid assets by which the money supply in an economic system is measured.

The money supply is the money in circulation.

Indicators such as monetary aggregates are used to analyze quantitative changes in money circulation, to develop measures to regulate the growth rate and volume of the money supply; monetary aggregates group various means of payment and settlement according to the degree of their liquidity, and each subsequent aggregate includes the previous one.

The monetary aggregate M0 is considered primary. It includes cash in circulation and cash balances in the cash registers of enterprises and organizations. This is the most liquid part of the money supply, directly affecting the market for goods and services.

The next unit M1 consists of unit M0, as well as a series cash deposits in banking institutions. In Russia, this group includes: demand deposits of individuals in the Savings Bank of Russia; deposits in commercial banks; funds in settlement and special accounts of non-financial agents. In developed countries, this group of accounts is called transaction deposits. The overall level of liquidity of the M1 unit is slightly lower than M0, since, for example, to make payments using a bank card, special equipment is required. In Russia, due to the insufficient development of the money circulation system, cash prevails in the M1 aggregate.

The monetary aggregate M2 includes the aggregate M1 plus assets with a fixed nominal value that can be converted into cash and transaction deposits. The assets of this group cannot be directly transferred from one person to another, but have sufficiently high liquidity. Thus, aggregate M2 represents aggregate M1 to which time non-checking savings deposits and small time deposits of less than $100 thousand are added. In Russia, time deposits in the Savings Bank are added to this unit.

It is the M2 monetary aggregate that is the main analytical parameter for assessing the money supply. It reflects the totality of payment instruments that affect the commodity market, therefore, forming the amount of effective demand of the population and the liquid capacity of the market.

If we add to the M2 aggregate large certificates of deposit (in developed countries these are securities with a par value above 100 thousand dollars), securities and time deposits for long-term storage, we get the M3 monetary aggregate. The liquidity of this unit is low. Due to the long circulation period, acceptance is not possible quick solutions, and, as a rule, the assets of this unit do not affect current state payment transactions. However, analysis of the M3 aggregate makes it possible to judge the state of the savings system and the level of confidence in national economy.

The units – M2 and M3 – are called “almost money”. These are highly liquid financial assets, which do not function directly as a medium of exchange, but can be easily converted into cash or bills without risk of financial loss.

It should be noted that to analyze the money supply in individual countries (or by different economists), a different number of aggregates is used.

The monetary aggregate M0, allocated in Russia, was introduced due to the fact that cash plays a very important role in the economy of our country. This is typical for countries with a low level of economic culture.

However, recently the economic situation in our country has been stabilizing, the population’s confidence in the national economy is increasing and the percentage of cash in the money supply is decreasing, as can be seen from Table 1.

Table 1 – Dynamics of the money supply of the Russian Federation (M2) at the beginning of the year

in billions of rubles

The state of the monetary sphere in 2009 was characterized by a gradual strengthening of the national currency, normalization of the situation with the liquidity of the banking system, a decrease in interest rates and an increase in demand for the national currency.

In Russia over the past decade, the cash money supply has increased almost 29 times: from 96.4 to 2785.2 billion rubles. (Figure 2)

Figure 2 - Growth of the cash money supply in Russia (as of January 1 of each year)

The M2 money supply in the fourth quarter of 2009 increased by 15.0% (in the fourth quarter of 2008 it decreased by 6.1%), and in 2009 as a whole its growth amounted to 16.3% (in 2008 - 1.7%). The ratio of the growth rate of consumer prices and the M2 monetary aggregate determined the growth of the ruble money supply in real terms in 2009 by 6.9% (in 2008 there was a decrease of 10.3%).

The monetary aggregate M0 for October-December 2009 increased by 15.9% (for the fourth quarter previous year- decreased by 2.8%). In general, in 2009 the volume of cash in circulation increased by 6.4% (in 2008 - by 2.5%). The dynamics of the monetary aggregate M0 were significantly influenced by the population's demand for cash foreign currency. In February-June 2009, against the background of stabilization and gradual strengthening of the ruble against the US dollar and the euro, the volume of banks' sales of cash foreign currency to the population sharply decreased, while the volume of purchases increased compared to January.

The non-cash component of the M2 money supply in the fourth quarter of 2009 increased by 14.7% (for the same period in 2008 it decreased by 7.4%), and in 2009 its growth amounted to 20.2% (in 2008). - 1.3%).

The following modern trends in cash circulation can be identified:

1) Increase in the amount of cash in circulation. Table 2 shows that in Russia the amount of cash in circulation on the balance sheet (taking into account bank cash balances) as of January 1, 2008 amounted to 4.1 trillion. rub. and increased by 34.5% in 2007.

Table 2 – Amount of money in circulation in Russia

in billions of rubles

At the same time, the share of cash in circulation outside bank cash desks (according to the M0 aggregate) in the total money supply (according to the M2 aggregate) is constantly decreasing. In 2007, it decreased by 3 percentage points, i.e., the growth rate of the money supply exceeded the growth rate of cash in circulation.

The level of cash sufficiency in the economy, calculated as the ratio of cash in circulation (outside bank cash desks) to GDP, for 2007, according to preliminary data, amounted to 11.2% (in 2006 - 10.4%), taking into account shadow sector of the economy - 8.6% (in 2006 - 8.0%). In developed countries this figure is 6–8%.

In 2007, the distribution structure of the amount of cash in circulation changed. The share of cash in the hands of the population has increased (calculated according to Rosstat) - from 57 to 61%. The population directs only 5–7% of current cash income into deposits and securities. Population's interest in bank deposits and deposits suspended in 2007 due to low interest rates regarding the level of inflation (rumors about the supposedly upcoming redenomination also played a role).

The share of cash balances in bank cash desks increased slightly, mainly in operating cash desks for credit institutions – from 9 to 10% (extract from the consolidated balance sheet of Russian banks). In addition to the objective reasons for growth associated with the expansion of internal structural divisions of credit institutions, attracting new clients to serve them, the growth of balances in operating cash desks was influenced by their accumulation of cash in order to reduce their transport costs(due to the significant remoteness of structural units).

The share of cash balances in the cash registers of business entities decreased by 5 percentage points and amounted to 29% (calculated as the difference between the total amount of cash in circulation and money in the hands of the population and in the cash registers of banks). At the same time, the share of cash in the cash registers of business entities remains significant, and this is often due to their violation of the rules for working with cash and the procedure for conducting cash transactions in order to speed up settlements (and, possibly, evade taxes).

Despite the growth of non-cash payments through the use of various types of payment cards, cash accounts for the overwhelming majority of settlements with the population. According to the Bank of Russia, at the beginning of 2008, 103.5 million bank cards were issued in the Russian Federation. The overwhelming majority of all payment cards in Russia (about 90%) were issued as part of “salary” projects.

To develop non-cash payments in the sphere of personal consumption it is necessary:

Improvement regulatory framework regulating operations for the release and circulation electronic means payment;

Development of infrastructure to improve operations using payment cards (expansion of the network for accepting payment cards), equipment of enterprises retail electronic terminals and imprinters for paying for goods and services using payment cards;

Providing electronic payments with security systems and protecting customer data (since cases of hacking of banking information systems, cases of fraud, and theft of cardholder data have become more frequent all over the world);

Financial education of the population, familiarization of bank clients with new banking products;

Resolving the issue of who will bear the costs of promoting non-cash payments in those places where the volume of transactions is insignificant and does not provide a relatively quick return on the costs incurred.

Despite the fairly high growth rates in the number of bank cards and the volume of transactions performed using payment cards (in 2007 they amounted to 38 and 47%, respectively), the share of cash payments for payment for goods and services in the total volume of transactions performed using payment cards by legal entities and individuals accounted for only 10% (including 7% by individuals), the remaining 90% were cash withdrawal operations. Thus, unfortunately, in Russia the use of bank cards still contributes mainly to the automation of the process of issuing salaries, and not to the development cashless payment goods and services.

According to expert estimates, if the current economic development trends that have emerged in recent years continue, the amount of cash in circulation by 2015 may increase approximately 3 times compared to 2007. There are no reasons to change these trends yet.

2) Centralization of cash processing in order to reduce operating costs. The increase in the cost of processing cash, increasing wages, the cost of technical equipment, consumables, and costs associated with ensuring safety during storage and transportation necessitate the automation of the process of counting money, verifying its authenticity, reducing the share of manual labor, and creating large cash centers. Reducing the costs associated with handling cash is the most important task of all central banks of the world, as well as credit institutions.

3) Outsourcing in cash processing matters. Many central banks (Australia, Great Britain, Sweden, Canada, South Africa, Brazil) are developing special schemes for organizing cash circulation, which, to one degree or another, provide for the delegation of a number of “minor” functions for processing cash commercial structures– banks, large collection companies, or specially created commercial structures involved in processing cash in the interests of central banks. The Central Bank retains only control over the production, issue, authentication of banknotes and their destruction.

4) Improving the quality and protective properties of banknotes and coins. Currently, the main focus of central banks and currency producers is on:

Further improvement of the consumer properties of banknotes by improving both paper and polymer types of substrates based on borrowing the best qualities of both;

Improving and developing new “public” (for the population) features of banknotes using special designs, special inks, technological processes (image perforation);

Reducing the cost of coin production;

Development of new security features of coins by improving the methods of their minting.

5) Correspondence of the banknote series of banknotes and coins to the needs of cash circulation. The main attention of central banks is focused on developing optimal options for banknote and coin series, determining the boundaries between the denominations represented by coins and banknotes, and the efficiency of using low-denomination coins.

3 Ways to improve cash turnover in the Russian Federation

The most important component of the economy of any state is money circulation. A complex interweaving of various production, investment and trade processes, inextricably linked with them the processes of accumulation and investment of capital, formation and use credit funds are provided through monetary circulation - the movement of money in cash and non-cash forms. Between cash and non-cash money circulation there is a close and mutual dependence: money constantly moves from one form of circulation to another, acting either as cash banknotes or in the form of entries in bank accounts.

The processes of globalization in the modern world economy also affect the sphere of monetary circulation; it has long become international. At the same time, the state of the economy of any country largely depends on the organization of national monetary circulation. A stable state and stable development of the sphere of monetary circulation are a necessary condition for economic development, and a violation of the monetary balance inevitably leads to an economic crisis.

That is why central banks of all countries of the world constantly study international experience and trends in the development of monetary circulation, strive to develop and implement new schemes for its organization, based on national characteristics.

The role of cash circulation is manifested in the process of regularly repeating circulation of money. Its optimization involves:

Ensuring the necessary volume and structure of the cash supply in accordance with the needs of all economic entities- participants in money circulation;

Maintaining a balance between the size of the cash supply and the volume of production of goods and services, taking into account the needs of economic growth;

Impact on the level of inflation due to changes in the volume and rate of cash emission;

Reducing the likelihood of money surrogates appearing in circulation;

Maintaining the sustainability of the circulation of official banknotes.

Providing participants in money circulation with cash in accordance with their needs is possible only with clarity, openness and completeness of current information received by the central bank and its territorial divisions. At the same time, a clearly functioning system for the receipt of cash from mints and printing factories (taking into account the optimal number of storage facilities) into the reserve funds of the RCC must be established. Credit institutions (banks) must take care in advance of the required amount of cash for their clients who have opened current (settlement) accounts.

Maintaining a balance between the size of the cash supply and the volume of production of goods and services is associated with probable long-term and short-term imbalances. These imbalances are possible due to excessive (or insufficient) volume of cash money supply, a sharp increase (or slowdown) in the speed of cash turnover, an unreasonable decrease (or rapid) change in the structure and capacity of the commodity (consumer) market, and monopolistic pricing practices. To maintain a balance between the size of the cash supply and the volume of goods and services, the interaction of all structures is necessary state power, participants in economic turnover, not only interested in receiving high income from their activities, but also caring about national priorities, on which the improvement of the well-being of the people ultimately depends.

The maximum possible influence of the central bank on money circulation is realized in reducing the level of inflation in the country not only through monetary policy instruments, but also through compliance with the proportions in the dynamics of cash emission confirmed by world practice in comparison with the dynamics of individual monetary aggregates, as well as balance of payments indicators, growth of gross domestic product and other macroeconomic indicators.

The appearance of money surrogates in circulation significantly reduces functionality and the potential of official, statutory currency in the form of cash. The likelihood of their occurrence will decrease only if the economic situation in the country is correctly predicted, in the absence of “shock” decisions from the government and the central bank.

Maintaining the stability of the circulation of official banknotes (cash) ultimately ensures the efficiency of the central bank both at the macro level, when the interests of the state are satisfied, and at the micro level, when the interests of credit institutions and their clients are respected.

The Bank of Russia is currently assessing the current (traditional) model for organizing cash circulation and, studying global experience, is working to create an optimal model for managing cash circulation.

Credit institutions, as a rule, support each other with cash. The development of this direction could be the creation of interbank cash centers, which are organized by credit institutions themselves, cooperating with each other. Part of the cash reserves of credit institutions may in the future be deposited in the accounts of the Central Bank with the possibility of controlled reinforcement of their operating cash desks.

The advantages of this approach include:

No need for regular transportation of cash to reinforce the cash registers of credit institutions (especially in conditions of difficulties in transport communications);

Decrease in the volume of cash stored in institutions of the issuing bank;

Possibility of control bank of issue quality of banknote sorting in credit institutions.

This approach to solving the problem has worked well in a number of countries (Canada, Brazil, Poland, etc.). In many countries, central banks provide cash services to credit institutions on a reimbursable basis. There are options for charging credit institutions for cash services for their internal divisions in central bank institutions.

There is a paid preparation of cash by central bank institutions at the request of credit institutions in the context of their branches and internal structural divisions; measures are applied to credit institutions that receive and hand over banknotes of the same denomination to central bank institutions within one working week.

The Board of Directors of the Bank of Russia reviewed the Concept for the improvement and development of cash circulation in the medium term (2007–2011), which provides for the following main activities:

Improving the methodology of cash circulation;

Transformation (optimization) of the network of Bank of Russia institutions providing cash services;

Modernization of technological processes for working with cash in Bank of Russia institutions;

Optimization of transportation of valuables of the reserve funds of the Bank of Russia;

Improving the quality of banknotes;

Optimization of the cash structure.

Organizing cash circulation, issuing and cash transactions and transporting valuables is an expensive business. The issues of reducing the costs of the Bank of Russia in organizing cash circulation, reducing the time and labor intensity of the cash processing cycle are currently very relevant. The Bank of Russia does not consider reducing costs in this area of ​​its activities as an end in itself. Fulfillment of the tasks assigned to it to ensure the uninterrupted functioning of cash circulation in the country is unconditional. Our country is characterized by a model for organizing cash circulation, in which cash processing at all stages of money movement is under the control of the Central Bank.

The problems of developing new cash circulation schemes, improving the organizational structure and technical base of money processing in order to reduce operating costs are the focus of attention of Bank of Russia specialists. When solving issues of optimizing cash management systems, central banks of a number of countries involve specialized organizations. Studying such experience seems very useful.

The main goal of the Bank of Russia, as is known, is to protect and ensure the stability of the ruble. Achieving this goal is impossible without the rational organization of cash circulation. The Bank of Russia is working to legal regulation the procedure for conducting cash transactions in institutions of the Bank of Russia, credit institutions and business entities, as well as the rules for storing, transporting and collecting cash for credit institutions.

Measures are being taken to modernize the technological processes of working with cash in the institutions of the Bank of Russia using high and medium productivity counting and sorting machines (SSM), the introduction of technology for the destruction of old banknotes in the process of processing money on the SSM, a digital television monitoring and registration system, automated emission accounting -cash transactions.

The main directions for improving the quality of banknotes and optimizing the structure of Bank of Russia cash are:

Protection of payment turnover from counterfeiting;

Optimization of structural costs associated with the production of banknotes;

Improving the consumer properties of banknotes and extending their life;

Optimization of cash structure.

To implement these tasks, the Bank of Russia has taken the following steps:

1) Presentation of requirements to credit institutions to maintain the purity of cash in circulation. It should be noted that fake banknotes high quality are not always identified by credit institutions. Therefore, it is necessary to once again emphasize not only the feasibility, but also the necessity of using infrared visualizers when checking the authenticity of cash and the mandatory requirement for machine processing of banknotes on SMS with authenticity sensors (simultaneous verification of at least four machine-readable features).

2) Planned modernization of the security complex of banknotes of the Bank of Russia. Given the recent increase in the number of counterfeit banknotes, the Bank of Russia has intensified work to find new security features for banknotes. The main task in this regard is the selection of banknote security elements that could withstand the modern level of counterfeiting, but at the same time leave the cost of producing banknotes at an acceptable level.

3) Conducting a large-scale information and educational campaign to explain to the population the signs of the authenticity of banknotes and coins of the Bank of Russia - stories on television, booklets, posters, articles in the press, etc.

4) Joint work with FSUE Goznak to optimize coin manufacturing technology (cost reduction); the use of new materials for the production of banknotes (extending their life). As part of optimizing the Bank of Russia's costs for servicing cash circulation, banknotes continue to be improved. Together with the Federal State Unitary Enterprise Goznak, work is being carried out to increase the resistance of banknotes to contamination and wear.

5) Conducting a sociological study aimed at determining the demand for various denominations of banknotes in payment circulation. The results of the study with the involvement of a third-party organization will be taken into account when developing proposals for optimizing the structure of the nominal series of banknotes and coins of the Bank of Russia.

Thus, improving cash circulation in Russia will lead to the strengthening of the national currency and stabilization of the monetary system as a whole, which, in turn, will have a positive impact on the entire range of economic processes in the country.

Conclusion

Cash circulation is a continuous process of cash movement designed to serve the receipt and expenditure of cash income of the population. Cash circulation is organized on the basis of the following principles: all enterprises and organizations must keep cash in commercial banks; banks set cash balance limits for enterprises of all forms of ownership; cash circulation serves as the object of forecast planning; monetary management is carried out centrally; the organization of cash circulation is aimed at ensuring the stability, elasticity and economy of money circulation; Enterprises can receive cash only from the banks that serve them. Cash circulation is organized by the state represented by the central bank.

Cash turnover (cash circulation) is a continuous process of movement of cash, which is represented by banknotes, or bank cards, metal change coins. The circulation of cash serves the receipt and expenditure of cash income of the population, part of the payments of enterprises and organizations. As a rule, enterprises store cash in small quantities; excess amounts are transferred to a bank account. Cash requirements are calculated using a forecast. In addition, the state of cash circulation in the regions is analyzed. The results of the analysis are used by them to make forecasts of cash turnover, as well as to develop and implement, together with bank institutions, measures to improve the organization of cash circulation and reduce emissions

Cash turnover makes up 30-35% of money circulation and differs high degree dollarization and euro.

Cash flow is difficult to control. It can act as a means of tax evasion and other illegal activities.

The Bank of Russia is developing new and improving existing regulations Bank of Russia, which allows: to create the necessary legal basis to optimize non-bank cash circulation; promote the acceleration of cash circulation; help ensure the safety of cash; deploy advanced technologies when working with cash.

List of sources used

1. Money, credit, banks: Textbook / Ed. prof. O.I. Lavrushin, - 6th ed. reworked and additional - M.: KNORUS, 2007. - 560 p.

2. Money. Credit. Banks: Textbook / Ed. G.N. Beloglazova. – M.: Higher Education, 2009. – 392 p.

3. Voshchanova G.P., Godzina G.S. History of Economics. - M.: INFRA-M, 2007. – 256 p.

4. Regulations “On the rules for organizing cash circulation on the territory of the Russian Federation.” Approved by Resolution of the Central Bank of the Russian Federation dated January 5, 1998 No. 14-P (as amended on October 31, 2002).

5. Petrova E.V., Sukhina N.Yu., Bayanduryan G.L. Money. Credit. Banks. Krasnodar: TU KubSTU, 2007. – 244 p.

6. Money. Credit. Banks / Under. ed. A.Yu. Kazaka - Ekaterinburg: AMB, 2007. - 688 p.

8. Ionov V.M. Cash circulation: main development trends / Money and credit. – 2007. - No. 4.

10. Yurov A.V. Ways to develop cash circulation in the Russian Federation / Money and Credit. – 2008. - No. 7.

Cash circulation is a process of continuous movement of cash banknotes in the sphere of circulation and their performance of the functions of a means of payment and a medium of exchange.

Cash circulation is organized on the basis of the following principles:

1) all enterprises must keep cash, with the exception of the established limit, in commercial banks;

2) banks set cash balance limits for enterprises;

3) cash circulation is the object of forecast planning;

4) money circulation is managed centrally;

5) the organization of cash circulation is aimed at ensuring the stability, elasticity and economy of money circulation;

6) enterprises can receive cash only from the banks that serve them.

The procedure for carrying out cash circulation on the territory of the Russian Federation is regulated by the Regulations “On the rules for organizing cash circulation on the territory of the Russian Federation.” According to him:

1) cash circulation is carried out using various types of money;

2) the issue and withdrawal of money from circulation is carried out by the Central Bank of the Russian Federation;

3) The Central Bank regulates cash circulation in the Russian Federation;

4) cash payments between legal entities are carried out non-cash, and in some cases cash payments are allowed within the established limits;

5) for legal entities, a limit on the balance of cash in cash registers is established;

6) legal entities are required to hand over all funds in excess of the limits to bank institutions.

Cash circulation begins at the RCC. Cash is transferred from reserve funds to working cash. From the working cash desks, cash is sent to the operating cash desks of commercial banks; most of the cash is issued by the bank to clients - legal entities and individuals. Most of the cash of enterprises is transferred to the population in the form of various types of cash income.

The population also uses cash for mutual settlements, but most of it is spent on paying taxes, rent and utility bills, repaying loans, purchasing goods and paying for various services, rent payments, paying fines, etc.

Money goes either to the operating cash desks of commercial banks or to the cash desks of enterprises. For each enterprise, limits are set for the balance of cash in their cash registers, and all amounts exceeding the limit must be deposited with a commercial bank. For commercial banks, limits are also set for their working cash desks, so in amounts exceeding the limit, they hand over cash to the cash register center. The latter also sets a limit for their working cash, so money in an amount exceeding the limit is transferred to reserve funds.

19. Non-cash money circulation and principles of its organization.

Non-cash turnover- this is the amount of payments for a certain period of time made without the use of cash by transferring funds to customer accounts in credit institutions or mutual settlements. This turnover constitutes a significant part of the country's monetary turnover. Non-cash money circulation is expressed in non-cash payments. Cashless payments are important economic importance in accelerating the turnover of funds, reducing cash in circulation, reducing distribution costs.

Non-cash payments in the economy are organized according to a certain system, which is understood as a set of principles for organizing non-cash payments, the requirements for their organization, determined by specific business conditions, as well as forms and methods of payments and related document flow.

Principles of organizing settlements: 1. Settlements are carried out through bank accounts that are opened for clients for storing and transferring funds. 2. Payments from accounts must be made by banks on the orders of their owners in the established order of payments and within the limits of the account balance. 3. Freedom for market participants to choose forms of non-cash payments and secure them in business contracts, with banks not interfering in contractual relations. 4. The principle of urgency and payment means making payments strictly based on the deadlines provided for in business, credit, insurance contracts, instructions of the Ministry of Finance of the Russian Federation, etc. 5. The principle of security of payment is closely related to the previous one and, in order to comply with the urgency of payment, assumes that the payer or his guarantor has liquid funds that can be used to pay off obligations to the recipient of funds.

It is a set of cash flows that are carried out by millions of economic entities.

— the totality of all cash flows in the economy for a certain period.

Depending on the purpose of payments in reproductive process, they can be grouped into several large threads. This makes it possible to schematize money circulation in the form of several interconnected and circular flows of money movement.

Cash flow- a set of payments that serve a separate stage (or part of it) of the process of expanded reproduction.

The general diagram of cash flow and its component flows is shown in the figure.

1. payment by firms for the resources they need, which they buy from households (labor, land, housing, etc.);
2. payment by government agencies for the labor of civil servants;
3. household income from the sale of their resources (wages, interest, dividends, rent, etc.);
4. household expenditure on ;
5. payment of net taxes by households;
6. payment by households directed to;
7. mobilization by firms for money market the funds they need for;
8. investment costs firms;
9. government mobilization of funds in the money market (government loans);
10. government procurement;
11. payment for products imported into the country;
12. receipt of money into the country from the world market as payment;
13. firms' income from sales of goods and services ();
14. net inflow of funds (capital) from the world market to the domestic market;
15. net outflow of funds (capital) from the domestic market to the world market.

Structure of money turnover

Cash turnover is a movement when carried out in cash and non-cash form.

The basis of money circulation is the social division of labor and the development of commodity production, which in turn has a significant impact on the further expansion of money circulation and the formation of national and world markets.

The beginning of the movement of money is preceded by its concentration among individuals and legal entities. In order for there to be a movement of money, there must be a need for money from one or the other party. When concluding transactions, money is needed for circulation and payments for goods and services. Their volume is determined by the nominal volume. The greater the total, the greater the need for money to conclude transactions.

There is also a demand for money for savings, which comes in various forms: deposits in credit institutions, securities, official reserves.

Cash turnover is carried out in two forms: cash and non-cash.

Cash turnover— the movement of cash in the sphere of circulation and the performance of two functions by it ( and ).

Cash is used:

• for the circulation of goods and services;
• for settlements related directly to the movement of goods and services, namely:
  • calculations for the payment of wages, bonuses, benefits, pensions;
  • on payment;
  • when paying and disbursing income on them;
  • on household payments for utilities.

Non-cash turnover— movement of value without the participation of cash: transfer of funds to accounts of credit institutions, offset of mutual claims.

Non-cash transactions are carried out using checks, bills, credit cards and other credit instruments.

The size of non-cash turnover depends on the volume of goods in the country, the price level, payment links, as well as the size of distribution and redistribution relations carried out through.

Non-cash turnover has a number of advantages, the essence of which is as follows:

• public are significantly reduced;
• conditions are created for state regulation of monetary circulation;
• the economic situation of subjects of monetary circulation improves, as it increases;
• it becomes possible to rationally use temporarily free funds in bank accounts.

Depending on the economic content and scope of application, the entire non-cash turnover is divided into two parts: settlements for commodity and non-commodity transactions.

Settlements for commodity transactions for inventory items, services rendered and work performed - they are the predominant ones, they determine the nature and composition of the work financial service enterprises in the field of payments. The state of all calculations of the enterprise, its... largely depends on the uninterrupted and systematic nature of these calculations.

Settlements for non-commodity transactions- related to the implementation of the enterprise (receipt and return, payment of interest on them; payment of other payments to the budget, payment, etc.).

There is a relationship and interdependence between cash and non-cash circulation: money constantly moves from one sphere of circulation to another, cash changes form to accounts in a credit institution and back.

Thus, non-cash turnover is inseparable from the circulation of cash and together with it forms a single money of the same name.

Payment turnover

Non-cash turnover

Cash turnover

gentle turnover. In Russia, as in other countries, not only cash is used to service payments, but also non-cash payments, which are currently predominant. The totality of all payments in cash and non-cash forms, in which money performs the functions of a medium of circulation, means of payment and accumulation, for a certain period of time is cash flow countries. The latter mediates commodity and non-commodity turnover, as well as redistribution operations. According to the economic content of the concept of money turnover, it is possible to identify its components and build an interconnected, internally subordinated structure of money turnover (Fig.). Cash turnover includes payment turnover, non-cash and cash turnover.

Rice. 3.1. Structure of money turnover

Payment turnover represents a set of payments using money as a means of payment. It includes non-cash payments and part of cash payments related to wages, taxes, purchase of securities, lottery tickets, etc.

Non-cash money turnover- this is part of the total monetary turnover, which consists in the use of non-cash payments through entries in bank accounts and offsets of counterclaims. In countries with developed market economies it exceeds | 90% of the total total monetary turnover, in Russia its share is much smaller.

Cash turnover- this is part of the total monetary turnover, when cash is used as a means of circulation and payment. It includes all payments made in cash for a certain period of time (year, quarter, month). The constantly repeating circulation of cash forms cash flow. The scope of use of cash payments is mainly related to the sale of household income. In cash, settlements between enterprises, organizations and institutions with the population, as well as between individual citizens in commodity and food markets, partial settlements between the population and the financial and credit system, and limited payments between enterprises are made. The maximum amount for cash payments between legal entities is set at 60 thousand rubles.

In countries with a developed market economy and banking system, the share of cash payments in the total money turnover does not exceed 3 - 8%.

A significant expansion of the sphere of cash circulation leads to an increase in the costs of the state and the Central Bank of the Russian Federation for the circulation of cash, its transportation, storage, replacement of old banknotes with new ones, the emergence of “black cash” and the lack of tax payments to the budget.

Issue of cash into circulation. This one is pretty complex process covers various aspects of the activities of the Central Bank of the Russian Federation. It consists of several stages:

forecasting the need for cash supply for uninterrupted settlements;

production of banknotes and their protection from counterfeiting;

organizing cash reserve funds;

transportation of cash to regions of the Russian Federation;

the actual release of money into circulation.

	Goznak Printing Factory, mint
	Interregional storage facilities of the Bank of Russia
	Head cash settlement centers (GRCC) of the Bank of Russia
	System of cash settlement (cash) centers (RCC) of the Bank of Russia
	System of commercial banks (interbank cash settlements)
	Enterprises, firms, institutions, organizations of various forms of ownership (cash payments between enterprises, firms, institutions, organizations)
	Population (mutual payments between individuals in cash)

Rice. 3.2.Organization of the availability of money circulation in the Russian Federation

Cash: 7 - out of circulation, 2 - in circulation

Cash circulation begins at the Central Bank of the Russian Federation . Cash is transferred from its reserve funds to the working cash register (GRKTs or RKTs). From the latter, they are sent to the operating cash desks of commercial banks for issuance to clients - legal entities or individuals (either to the cash desks of enterprises and organizations, or directly to the population), thereby they enter circulation. Part of the cash from the cash registers of enterprises and organizations can be used for settlements between them if the purchase price does not exceed the maximum payment amount established by law. But most of them are transferred to the population in the form of various types of cash income - wages, pensions and benefits, scholarships, insurance compensation, dividend payments, proceeds from the sale of securities, etc.

The population also uses cash for mutual settlements, but most of it is spent on paying taxes, fees, insurance payments, rent and utility bills, repaying loans, purchasing goods and paying for various paid services, purchasing securities and lottery tickets, rent payments, and paying fines. , penalties, penalties, etc. Thus, cash from the population goes either directly to the operating cash desks of commercial banks, or to the cash desks of enterprises and organizations, primarily trade and service enterprises.

The release of cash into circulation and withdrawal from it occur constantly. They come into circulation when banks, in the process of carrying out cash transactions, issue them to clients from their operating cash desks. But since at the same time clients hand over cash to the operating cash desks of banks, their total quantity in circulation may not increase. Therefore, it is necessary to distinguish between the concepts of “issue of money” and “issue of money”.

The issue is usually understood as the release of cash into circulation, which leads to a general increase in the money supply contained in it.

In the Russian Federation, all operations for the additional release of money into circulation and withdrawal from it are carried out in a centralized manner, i.e. at the direction of the country's issuing bank - the Central Bank of the Russian Federation. The Bank of Russia issues issues based on a forecast of cash turnover, and taking into account the data balance monetary income and expenditure of the population.

Forecast balance of monetary income and expenditure of the population and its actual implementation help the Central Bank of the Russian Federation and the Government of the Russian Federation more accurately take into account the demand of the population, predict trends in the volume of savings of the population, the structure of consumer demand and the purchasing fund of the population. The excess of income over the population's expenses in the balance sheet means an increase in the balance of money in the hands of the population, and the reverse process, on the contrary, means a reduction. Accordingly, in the first case, the issue of small money is required for cash services for clients by the bank, and in the second, their withdrawal from circulation.

Emission system - This is a legally established procedure for the central bank to issue banknotes into circulation. The mechanism of emission and cash regulation of the money supply includes the procedure for issuing and withdrawing money from circulation, as well as its redistribution between territories and regions of the country depending on economic needs. The function of issuing cash regulation of the money supply in the regions is performed by cash settlement centers at the main territorial departments of the Bank of Russia. In them, with his permission, reserve funds of banknotes and coins are created. The main purpose of these funds is to ensure the issue of money, regulate the banknote structure of the money supply, replace damaged banknotes and coins for new ones, saving costs on transportation from the center and storage of banknotes.

In addition to reserve funds, the RCC has a working cash desk, into which cash is accepted and dispensed during the operating day. There is a limit on their balance in the working cash register; if it is exceeded, at the end of the operating day, excess money is transferred to reserve funds. This operation is carried out automatically without special permission from the Bank of Russia and is considered a withdrawal of money from circulation. In accordance with the current procedure for organizing cash flow, each enterprise also sets a limit on the balance of cash in its cash register. All money in an amount exceeding it must be surrendered to the commercial bank servicing the enterprise. For commercial banks, the limits of their operating cash desks are determined, so they hand over cash in an amount exceeding it to the GRCC or to the RCC (CC), and the latter, in turn, when their limits are exceeded, transfer the cash to reserve funds, i.e. they are actually withdrawing it from circulation.

Money supply. In the Russian economy, a significant part of payments is made in cash, however, non-cash payments still predominate. But if the issue of cash is a monopoly of the Bank of Russia, then the issue of non-cash means of payment in market economy it cannot exist. Non-cash money appears in circulation in the process of deposit and loan issuance of commercial banks, which can only be indirectly regulated by the central bank. There are also no strict boundaries between the circulation of cash and non-cash payment turnover in market conditions. If the owners of bank accounts have legal grounds, their balances can be easily converted into cash. Therefore, to maintain the stability of the national currency, it is necessary to manage the total volume of means of payment in the economy, regardless of the form in which they exist.

The totality of purchasing and payment means serving the economic turnover in the country forms money supply.

The money supply in the Russian Federation is calculated by the Central Bank of the Russian Federation as of the 1st day of each month based on data from the consolidated balance sheet of the banking system. It includes the following monetary aggregates:

MO - includes cash in circulation;

M1 - consists of an aggregate MO plus funds in settlement, current and special accounts of enterprises and organizations, in the accounts of local budgets, budgetary, trade union, public and other organizations, State Insurance funds, deposits of the population and enterprises in banks, demand deposits of the population in Sberbank of Russia;

M2 - contains an aggregate M1 plus time deposits of the population in Sberbank of Russia;

MOH- turns on the unit M2 plus certificates and bonds of government loans.

This structure of the money supply increases the activity of money circulation management, as it allows us to more fully take into account the degree of influence of money in each aggregate on the formation of effective demand, and, consequently, prices in the market for goods and services. In the Russian Federation, the M2 aggregate is used as the main monetary aggregate used in calculating current macroeconomic indicators.

The amount of money supply required for circulation depends not only on the volume of economic turnover in the country, but also on the speed of circulation of money. By accelerating their turnover, it is possible to complete a larger volume of transactions using a smaller amount of money as a means of circulation and payment. 11 about the data of the Central Bank of the Russian Federation, the speed of circulation of money supply M2 in relation to GNP on an average annual basis was 8.3 in 2000, and 7.0 in 2001. Obviously, there was a slowdown in the circulation of the money supply, which contributed to further suppression of inflation. In addition to the speed of circulation of the money supply in the Russian Federation, they determine:

the rate of return of money to the cash desks of Bank of Russia institutions - the ratio of the amount of money received to the bank's cash desks to the average annual and the mass of money in circulation;

velocity of circulation of money in cash circulation - the ratio of the amount of receipts and issuance of cash to the average annual mass of money in circulation.

In modern economic literature, a generally accepted concept has emerged about the need to distinguish among various types of functional forms of money the so-called “strongest” money, which means the amount of obligations of the central bank in relation to the private sector, reflected in its balance sheet. The totality of those obligations of the central bank in relation to the private sector that it has the ability to control is called monetary base. The components of the monetary base are banknotes and coins held by the population and in the cash registers of banks, and funds of commercial banks deposited with the central bank in the form of required reserves. In the Russian Federation, “narrow” and “broad” monetary bases are calculated. The first consists of an aggregate MO(cash in circulation), cash in banks' cash desks and their required reserves with the Bank of Russia, and the second additionally includes funds of commercial banks in correspondent accounts with the Central Bank of the Russian Federation.