; b) securities in foreign currency: payment documents (checks, bills, letters of credit, etc.), stock values ​​(stocks, bonds) and other debt obligations denominated in foreign currency; c) precious metals: gold, silver, platinum and platinum group metals (palladium, iridium, rhodium, ruthenium and osmium) - in any form and condition, with the exception of jewelry and other household products, as well as scrap of such products; d) natural precious stones: diamonds, rubies, emeralds, sapphires and alexandrites in raw and processed form, as well as pearls, with the exception of jewelry made from these stones and scrap of such products (Clause 4 of Article 1 of the Law of the Russian Federation "On Currency Regulation and currency control" dated October 9, 1992). The procedure and conditions for classifying products made of precious metals and natural precious stones as jewelry and other household products and scrap of such products are established by the Government of the Russian Federation.

Large legal dictionary. - M.: Infra-M. A. Ya. Sukharev, V. E. Krutskikh, A. Ya. Sukharev. 2003 .

See what “CURRENCY VALUES” are in other dictionaries:

Material objects involved in the sphere of international monetary and financial relations. The classification of certain objects into the category of CURRENCY VALUES and the procedure for their circulation are determined by the norms of the currency legislation of each country or... ... Financial Dictionary

Currency values ​​are a set of specific currency assets. The concept was introduced in the USSR with the aim of regulating transactions with these financial and currency assets. In relation to currency values, special methods of currency exchange are established... ... Wikipedia

See Currency values ​​Dictionary of business terms. Akademik.ru. 2001... Dictionary of business terms

Big Encyclopedic Dictionary

Material objects involved in the sphere of international monetary and financial relations. These include: foreign currency, payment documents in foreign currency (bills, checks, letters of credit), stock values ​​(stocks, bonds), natural precious stones... Economic dictionary

Values ​​for which the state establishes a limited regime of circulation. Thus, in the Russian Federation, currency values ​​include: foreign currency and payment documents expressed in it and securities, precious metals... ... Political science. Dictionary.

Currency values- (English currency valuables) material objects involved in the sphere of international and domestic monetary and financial relations. Attribution of certain objects to the category V.ts. and the procedure for their circulation is determined by the rules of currency exchange... ... Encyclopedia of Law

CURRENCY VALUES- foreign currency and foreign securities; payment documents (checks, bills, letters of credit, etc.); stock values ​​(stocks, bonds) and other debt obligations denominated in foreign currency... Legal encyclopedia

CURRENCY VALUES- in accordance with paragraph 3 of Art. 1 of the Law of July 22, 2003 On Currency Regulation and Currency Control, currency values ​​are: foreign currency; payment documents in foreign currency, which are such in accordance with the law... ... Legal Dictionary of Modern Civil Law

Values ​​for which the state establishes a limited regime of circulation. Thus, in the Russian Federation, currency values ​​include: foreign currency and payment documents expressed in it and securities, precious metals... ... encyclopedic Dictionary

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As part of the activities of any enterprise, it forms certain assets. They are usually called values. In connection with the development of international relations, there is a need to carry out transactions in foreign currencies. This is how another direction is formed - currency values.

Concept and composition: what applies to them and what does not

Currency values ​​(hereinafter referred to as VTs) represent list of certain assets, expressed in currency. The concept was introduced in the USSR in order to regulate operations. In relation to CC it is currently established several basic control and regulation methods. As the economic situation in the country and the world developed, the definition of this concept changed.

Currency values ​​included the following elements:

• foreign currency;
• securities;
• precious metals (silver, gold, platinum);
• natural precious stones (rubies, sapphires, diamonds, emeralds).

Subsequently, economic activities in the foreign market were further liberalized. In 2003, a new law was adopted that changed the interpretation of this concept. According to the latest edition, currency values ​​began to include foreign currency and foreign securities.

Regulatory regulation

Material values

To regulate the process of circulation of objects, a more detailed classification is used, which allows them to be separated into an independent group. That is, these are currency values ​​that are expressed in in real form.

These include banknotes and documentary forms of securities. Such objects are abbreviated as IEC.

The concept of a Central Bank is discussed in more detail within the framework of Art. 142 of the Civil Code of the Russian Federation. According to the general provisions of the article, this group includes shares, bonds, bills, investment-type units, checks, etc. In order to ensure currency control, this group includes internal and external central banks. The second group includes documents that are not included in the internal category.

Particular emphasis is placed on the fact that the group includes uncertificated securities, expressed in the form of an account entry that does not have a classic paper form. According to current legislation, the class of domestic securities includes emission elements that are placed in local currency and their issue is registered in the country. This also includes other valuables that are located on the territory of the country and give the right to receive Russian currency.

Transactions carried out with internal documents are regulated by the law on currency regulation and control, i.e. non-residents can take part in such transactions.

Operations carried out deserve special attention between residents. They do not fall under the general norms and rules of exchange control. If we talk about the CC in more detail, it is worth noting a few rules established by law:

• the import of valuables of a currency nature and their export to and from the territory of the Russian Federation is carried out strictly in accordance with the law;
• transferring money from account to account can only be carried out in accordance with the law; you can also act without opening appropriate accounts;
• special regulations are followed when carrying out transactions of purchase and sale of foreign currencies and checks that are denominated in them.

At the same time, during operations there may be certain restrictions and prohibitions. Currently, such transactions are carried out without any problems between individuals acting as residents.

In the Russian Federation, the concept of currency values ​​implies special norm, which appears in several legal acts at the same time. Here are the main legal provisions:

• Art. 141 of the Civil Code of the Russian Federation: here CC are described as property; more detailed information on transactions can be found within the framework of regulations on state regulation of such transactions;
• Federal Law No. 173 of December 10, 2003 implies a description of the norms of currency control and regulation.

Thus, in accordance with the current legislation on currency control and regulation, the group of currency values ​​includes external securities and foreign currency units.

It is also worth noting that the entire first paragraph of the relevant article contains only a list of objects that are accepted as international means of payment and are regulated at the state level. Therefore, we can talk about the fact that the concept acts as a broader category than currency and the Central Bank.

Relationship with accounting and tax accounting

For the purposes of settlement actions for income tax and accounting, the term CC has special importance. The fact is that they are used to recalculate the cost indicator associated with changes in the foreign currency exchange rate, during which positive or negative exchange rate differences are formed.

In accounting, these differences are subject to accounting measures for account 91, meaning other income and expenses. As for tax accounting, here operations are carried out within the framework of non-operating income (if positive) and non-operating expenses (if negative).

Regulation in the field of foreign exchange turnover

As already mentioned, on the territory of the Russian Federation, control and regulatory activities are carried out in accordance with Federal Law No. 173. It contains detailed information about the basic legal principles of surveillance, the rights and obligations of residents and non-residents of the country in relation to the possession and disposal of CC.

Standards that contribute to an unambiguous determination of the order of actions are considered to be predominant. The right of individuals and legal entities to open accounts in foreign banking institutions is subject to regulation from the point of view of the law.

Thus, currency values ​​include a large number of groups and categories. Each of them is the result of legislative norms and acts that are mandatory for compliance and execution. A competent approach to regulation and control is ensured by current legislation.

Currency values ​​are , on the one hand, is a term that is understandable to everyone and does not require any special explanation. On the other hand, in relation to currency values ​​are only foreign money or not, only a small number of citizens are able to clarify. We will take a closer look at the questions that open up the interesting area of ​​currency regulation in this article.

Determination of currency values

The term “currency” originates from an Italian word, which in a broad sense denotes any product suitable for exchange on the domestic market of a state or on international trading platforms. In a narrow sense, the name “currency” is used as an analogue of the word “money” or, more precisely, a monetary unit as a thing (banknote or coin) or as a measure of value, a means of payment.

There are 2 defining criteria applied to the currency:

• authenticity;
• solvency.

At the same time, based on various criteria, we can distinguish the following types of currencies:

1. In relation to the state:

• national;
• foreign.

According to metabolic capacity:

• freely negotiable;
• non-convertible.

By physical attire:

• cash;
• cashless.

By global use:

• reserve;
• dominant.

By provision:

• backed by precious metals;
• unsecured.

Thus, currency values ​​are a list of property assets established by the state, in relation to which a special method of currency regulation and currency control is determined.

Currency legislation

If we go from large to small, then first of all in the series of regulations on currency values ​​we should mention the Civil Code of the Russian Federation. However, this document contains only one norm on the topic (Article 141) and it is a reference one, since it determines that the types of property related to currency values ​​and the procedure for its circulation are specified by the legislation on currency regulation.

Don't know your rights?

The main law designed to streamline foreign exchange transactions is the Law “On Currency Regulation and Currency Control” dated December 10, 2003 No. 173-FZ. The law consists of 28 articles and defines, in particular, the principles of currency regulation and control, regulatory bodies, the procedure for the import and export of currency valuables from Russia, and the features of control over currency transactions.

In addition to the above, Article 250 of the Tax Code, relating to non-operating income, clause 5 of Art., is relevant to the circulation of currency. 4 of the Law “On Customs Regulation in Russia” dated November 27, 2010 No. 311-FZ, regarding the movement of currency values ​​across the border - Art. 101 Decision of the Council of Heads of the CIS “On the fundamentals of customs legislation of the CIS member states” dated 02/10/1995.

Currency values ​​include

Previously, legislation defined a fairly wide list of property classified as currency values. This:

• banknotes of foreign countries;
• overseas shares;
• precious metals in the form of products and scrap;
• natural gems.

Currently, from the above list, only foreign money and foreign securities are classified as types of currency values.

Both previously and now, national currency units and Russian securities do not belong to currency values. This is due to a practical problem, according to which only transactions with foreign funds and shares should be subject to the legislation on currency regulation.

Regulation in the field of foreign exchange turnover, foreign exchange transactions

All legislation on currency circulation is based on the following principles:

1. The prevalence of economic measures in the implementation of state policy in the field of currency regulation.
2. Removal of the state and government agencies from intervention in the transactions of individuals with currency.
3. Unification of Russian national and international policies regarding currency regulation and turnover.
4. Interrelation and interaction of currency regulation and currency control systems.
5. Providing individuals with state protection of rights and economic interest in currency transactions.

The main bodies exercising currency regulation and control are the Central Bank of Russia and the Government. These formations publish, within the framework of their powers, regulations that are binding on citizens and organizations of Russia and foreign persons. The Central Bank establishes general forms of accounting and reporting on currency turnover, procedures and time frames for the provision of documentation.

In accordance with Art. 9 of Law 3 173-FZ, currency transactions between citizens and organizations of Russia are primarily prohibited, with the exception of:

• non-cash transfer of foreign funds between citizens;
• actions for the circulation of currency with the participation of consular and diplomatic institutions and persons;
• transactions with foreign securities;
• business trips and trips abroad;
• activities related to the movement of foreign currency for the execution of budgetary duties of the Russian Federation;
• other.

It is important to know that at a time in 1 day through 1 bank, a citizen can transfer to the account of another citizen who is not his relative or spouse, to a bank in a foreign country, an amount of no more than $5,000 at the exchange rate on the day the funds were written off.

The legal basis and principles of currency regulation and currency control in the Russian Federation are established by Federal Law dated December 10. 2003 No. 173-FZ “On Currency Regulation and Currency Control.”

Currency of the Russian Federation:

1. banknotes in the form of banknotes and coins of the Central Bank of the Russian Federation, in circulation as a legal means of cash payment on the territory of Russia, as well as these banknotes withdrawn or withdrawn from circulation, but subject to exchange;

2. funds in bank accounts and bank deposits.

Foreign currency:

1. banknotes in the form of banknotes, treasury notes, coins that are in circulation and are a legal means of cash payment in the territory of the relevant foreign state (group of foreign states), as well as these banknotes that are withdrawn or withdrawn from circulation but subject to exchange;

2. funds in bank accounts and bank deposits in monetary units of foreign countries and international monetary or settlement units.

Types of currency:

1. cash;

2. non-cash.

Types of foreign currency:

1. freely convertible - currencies of those countries in which their free exchange for the currencies of other states is allowed;

2. partially convertible - currencies in relation to the exchange of which certain restrictions are established;

3. non-convertible - currencies prohibited for exchange, used only within a certain country;

4. international - artificial currencies used in international relations (for example, the euro).

Currency values- foreign currency and external securities, which are securities, including in non-documentary form, not related to internal securities.

Domestic securities:

1. Issue-grade securities, the nominal value of which is indicated in the currency of the Russian Federation and the issue of which is registered in the Russian Federation;

2. other securities certifying the right to receive Russian currency, issued on the territory of the Russian Federation.

Currency values- values ​​in respect of which the currency legislation establishes a special limited regime of circulation on the territory of the country. Currency values ​​include:

1. foreign currency;

2. securities denominated in foreign currency - payment documents (checks, bills and other payment documents), issue-grade securities (including shares, bonds), securities derived from issue-grade securities (including depository receipts), options giving the right for the purchase of securities and debt obligations denominated in foreign currency;

3. precious metals - gold, silver, platinum and platinum group metals (palladium, iridium, rhodium, ruthenium and osmium) in any form and condition, with the exception of jewelry and other household products, as well as scrap of such products;

4. natural precious stones - diamonds, rubies, emeralds, sapphires and alexandrites in raw and processed form, as well as pearls, with the exception of jewelry and other household products made from these stones and scrap of such products.

The Government of the Russian Federation establishes the procedure and conditions for classifying products made of precious metals and natural precious metals as currency values.

• Characteristics of foreign exchange transactions

63. Concept and types of foreign exchange transactions. Residents and non-residents in currency legal relations.

Foreign exchange operations This:
operations, related to the transfer of ownership and other rights to foreign exchange values, incl. operations, related to the use of foreign currency and payment documents in foreign currency as a means of payment;
import and shipment to the Russian Federation, as well as export and shipment from the Russian Federation foreign exchange valuables (foreign currency, securities in foreign currency, payment documents, stock values);
implementation of international money transfers.
All currency operations are divided into:

current currency operations,
currency operations, related to the movement of capital. Current currency operations:
transfers to and from the Russian Federation of foreign currency for making settlements without deferred payment for the export and import of goods, works, services, as well as for making settlements related to lending to export-import operations for a period of no more than 90 days,
obtaining and providing financial loans for a period of no more than 90 days,
transfers to and from the Russian Federation of interest, dividends and other income on deposits, investments, loans and other operations, related to the movement of capital, non-trade transfers to and from the Russian Federation (transfers of wages, pensions, alimony, inheritance, as well as other similar operations).

Foreign exchange operations, related to capital movements:
direct investments, that is, investments in the authorized capital of an enterprise in order to generate income and obtain rights to participate in the management of the enterprise;
portfolio investments, that is, the acquisition of securities;
transfers to pay for ownership rights to buildings, structures and other property, including land and its subsoil (i.e. real estate);
provision and receipt of deferred payment for a period of more than 90 days for the export and import of goods, works, services;
provision and receipt of financial loans for a period of more than 90 days;
all others operations, not current currency transactions.
All these currency operations, related to the movement of capital are carried out only on the basis of permission from the Central Bank of Russia.

Residents include:

Individuals with permanent residence in the Russian Federation, including those temporarily located outside the Russian Federation;

Legal entities created in accordance with the legislation of the Russian Federation, with a location in the Russian Federation;

Enterprises and organizations that are not legal entities, created in accordance with the legislation of the Russian Federation, with a location in the Russian Federation;

Diplomatic and other official missions of the Russian Federation located outside the Russian Federation;

Branches and representative offices outside the Russian Federation of the previously mentioned legal entities, as well as enterprises and organizations that are not such.

The Law includes non-residents:

Individuals with permanent residence outside the Russian Federation, including those temporarily located in the Russian Federation;

Legal entities created in accordance with the laws of foreign states, with a location outside the Russian Federation;

Enterprises and organizations that are not legal entities, created in accordance with the laws of foreign states, with a location outside the Russian Federation;

Foreign diplomatic and other official missions located in the Russian Federation, as well as international organizations, their branches and representative offices;

Branches and representative offices of non-resident legal entities and enterprises that are not legal entities located in the Russian Federation.

The division of subjects of currency legal relations into residents and non-residents is due to the different scope of rights and obligations granted to them to carry out various currency transactions and transactions.

The objects of currency legal relations are understood as:

Currency of the Russian Federation;

Securities in the currency of the Russian Federation;

Foreign currency;

Currency values.

64. The concept of insurance. Types of insurance.

65. Reinsurance.

Reinsurance agreement is a type of property insurance contract, which specifies the insurance object, a certain insurance risk, the peculiarity of the persons participating in the reinsurance contract, etc. If there is no agreement in the contract on another insured event under the reinsurance contract, the fact of payment by the reinsurer of insurance compensation under the main insurance contract (information letter of the Presidium of the Supreme Arbitration Court of the Russian Federation dated November 28, 2003 No. 75).

In accordance with the provisions of Art. 967 of the Civil Code of the Russian Federation, reinsurance means insurance by one insurer (reinsurer) of the risk of payment of insurance compensation or the insured amount under an insurance agreement with another insurer (reinsurer). The law allows for the sequential conclusion of two or more reinsurance contracts.

Along with the reinsurance agreement, other documents that are used based on business customs can be used to confirm the agreement.

The need to apply business customs in reinsurance relations is determined by the fact that a significant share of the reinsurance capacity by Russian insurers is transferred for reinsurance to foreign insurance companies (non-residents).

And since in international law there is no special normative act dedicated to insurance, and even more so to reinsurance, when determining the terms of reinsurance, participants in a reinsurance transaction apply business customs that have developed in this area of ​​​​relations, mainly in international reinsurance practice.

Article 13 of the Law of the Russian Federation “On the organization of insurance business in the Russian Federation” defines reinsurance as the activity of protecting by one insurer (reinsurer) the property interests of another insurer (reinsurer) related to the insurance payment obligations assumed by the latter under the insurance contract (main contract).

The legislator has established certain restrictions that must be observed when concluding an insurance contract:

1. the risk of insurance payment under a life insurance contract in terms of the survival of the insured person to a certain age or period or the occurrence of another event is not subject to reinsurance;

2. insurers licensed to provide life insurance do not have the right to reinsure property insurance risks assumed by insurers.

1. optional, in which the insurer, if reinsurance is necessary, decides which of the reinsurers to offer the risk for reinsurance, and the reinsurer, after assessing the risk and analyzing the available information, decides whether to accept part of the risk and on what terms;

2. obligatory. Under such an agreement, the insurer undertakes to transfer all specifically defined risks in the agreed territory of insurance coverage (for example, accident insurance contracts concluded in Russia), and the reinsurer is obliged to accept these agreed risks for reinsurance.

The reinsurance agreement is subject to the rules provided for by the Civil Code of the Russian Federation, which are subject to application in relation to business risk insurance, unless otherwise provided by the reinsurance agreement. In this case, the insurer under the insurance contract (main contract), who has concluded a reinsurance contract, is considered to be the policyholder in this latter contract (Part 2 of Article 967 of the Civil Code of the Russian Federation).

A reinsurance contract, like an insurance contract, can be amended or terminated in accordance with the general provisions of Chapter. 29 of the Civil Code of the Russian Federation, namely:

1. by agreement of the parties, unless otherwise provided by law or agreement (Part 1 of Article 450 of the Civil Code of the Russian Federation);

2. at the request of one of the parties, the contract can be changed or terminated by a court decision only in the event of a significant violation of the contract by the other party and in other cases provided for by law or the contract (Part 2 of Article 450 of the Civil Code of the Russian Federation).

An agreement to amend or terminate a contract is made in the same form as the contract, unless otherwise follows from the law, other legal acts, the contract or business customs (Part 1 of Article 452 of the Civil Code of the Russian Federation). It is necessary to distinguish from reinsurance coinsurance. According to Art. 953 of the Civil Code of the Russian Federation, an insurance object can be insured under one insurance contract jointly by several insurers (co-insurance). If such an agreement does not define the rights and obligations of each of the insurers, they are jointly and severally liable to the insured (beneficiary) for the payment of insurance compensation under a property insurance agreement or the insured amount under a personal insurance agreement.

The difference between coinsurance and reinsurance is that in coinsurance one of the parties to the contract is always policyholder.

Only insurance organizations that redistribute the policyholder's risk assumed by the direct insurer among themselves participate in reinsurance. The advantage of reinsurance is that the insurer, reinsuring the risks assumed, creates additional guarantees of its financial stability.

66. Legal status of subjects of insurance activities.

The concept of “currency values” is broader. Currency values ​​are values ​​in respect of which the currency legislation establishes a special limited circulation regime on the territory of the country. The Law of the Russian Federation "On Currency Regulation and Currency Control" includes the following as currency values:
a) foreign currency;
b) securities in foreign currency - payment documents (checks, bills, letters of credit, etc.), stock values ​​(stocks, bonds) and other debt obligations denominated in foreign currency;
c) precious metals - gold, silver, platinum and platinum group metals (palladium, iridium, rhodium, ruthenium and osmium) in any form and condition, with the exception of jewelry and other household products, as well as scrap of such products;
d) natural precious stones: diamonds, rubies, emeralds, sapphires and alexandrites in raw and processed form, as well as pearls, with the exception of jewelry and other household products made from these stones and scrap of such products.
Currency assets in the Russian Federation can be owned by residents, residents and non-residents.
In the Russian Federation, the right of ownership of currency values ​​is protected by the state, along with the right of ownership of other property.
Types of obligatory payments to the state (taxes, fees, duties and other gratuitous payments) in foreign currency are determined by the laws of the Russian Federation.
The procedure and conditions for classifying products made of precious metals and natural precious stones as jewelry and other household products and scrap of such products are established by the Government of the Russian Federation.
5. Exchange rate
Economic transactions between participants in international relations are impossible without the exchange of one national currency for another.
The proportion in which the currency of one country is exchanged with the currency of another is called the exchange rate. In other words, each foreign monetary unit has an exchange rate - a price expressed in the country's national currency. The objective basis of such a “price” of money is the purchasing power of one currency compared to another. Currencies with greater purchasing power are “stronger” than others.
Just as the price of any product is affected by supply and demand, the exchange rate will be influenced by a number of factors, among which supply and demand for a particular currency play a certain role.
However, not only inflation itself affects the depreciation of the exchange rate, but even inflation expectations are a rate-forming factor. In anticipation of changes in the exchange rate, investors can make difficult-to-predict decisions, which can result in either an increase in demand for the currency or a decrease in it, which ultimately can lead to both an increase in the exchange rate and its fall.
Exchange rate regulation is an integral part of the country's foreign exchange policy, which plays an important role in the system of market economy regulation. Therefore, we can say that the monetary policy pursued in a country is also a factor that determines the exchange rate of its money. The methods used in the process of state regulation of the exchange rate can be both administrative (regulatory regulation based on the development of legislative acts) and economic.
For participants in foreign exchange markets, the exchange rate is divided into a buyer's rate and a seller's rate.
The buyer's rate is the rate at which a resident bank buys foreign currency for national currency.
The seller's rate is the rate at which the bank sells the currency. Banks sell foreign currency for national currency at a higher price than they buy it, at the seller’s rate.
The size of the purchase and sale rates for cash foreign currency for cash rubles is set by the bank depending on the following factors:
1. the value and dynamics of official foreign currency rates established by the Central Bank of the Russian Federation;
2. dynamics of population demand for cash foreign currency and cash rubles;
3. structure of cash balances in the bank;
4. frequency and volume of “banking transactions” performed by the bank;
5. the amount of overhead costs associated with transportation, collection, etc. in cash foreign currency;
6. volume of supply of similar types of services, rates and commission rates established in other banks.
The difference between the seller's and buyer's rates is called margin. The margin shows the bank's costs and forms its profit from foreign exchange transactions. The margin is set by the bank independently.
Determining and registering the interbank rate based on a comparison of supply and demand for each currency is called fixing. These courses are regularly published in official and special publications.
The quotation of two foreign currencies, neither of which is the national currency of the party to the transaction, or the ratio of two currencies resulting from their rate in relation to the third is called the cross rate. This type of exchange rate is also calculated and can be used for internal calculations. For example, when calculating minimum down payments or various commission fees, etc. in currencies other than the US dollar.