Tag: Banks and credit

History of MMM (original article) Externally tickets reminiscent of Soviet gold coin (he, in fact, was taken as an example), but instead a portrait of Lenin in the center there was a portrait of Sergei Mavrodi. By placing his portrait, Mavrodi acted quite sensibly. He believed that it was "psychologically accurate. "Once a man so openly and without fear printed his portrait, he never going to run" 15 million depositors, one third of the national budget, price increases of 127 times, etc., ave been made to them in just six months. Represent Sergei Mavrodi (remember us by MMM, Leni Golubkov, and his wife and Brutus by clips) to the majority of Russians bestolku … Many people remember, and many … recent contributors (paid profits first and other structures) remember bad words ..

Younger generation Mavrodi interesting from a historical point of view, all the same people managing the whole scheme on the phone, genealny its own way, has the support of at different levels – made large-scale – showed the country's laws in all its glory, the greed of people and stupidly threw .. (Or rather not given until the end of dokidat ..) It's a kind of ChegevaroPonzi, well, a couple of notes with sources … Trying to find a way out situation and to bypass the restriction on issue of shares, Mavrodi just two months after beginning work into circulation so-called "tickets MMM, non-formal securities. ("Well, so do not stop! ") price of one ticket was equal to one hundredth of the share price (by analogy with the money: pennies, and rubles).

In addition, the law increasingly defines the range of information to be protected, naming as 'other information'. By virtue of Part 2 of Article 3 of the Civil Code should apply rules, so you must remove the existing contradictions between the laws. Such contradictions abound. For example, the Federal Law 'On Banks …' gives exhaustive list of authorities and officials, who can get the information constituting bank secrecy, and art. 41 FZ "On Restructuring of Credit Organizations' on 07.08.1999 and establishes the right of the Agency for Restructuring credit institutions to obtain information constituting bank secrecy. Such inconsistency in the law are often the reason that the banks receive inquiries on accounts and deposits from persons not eligible: lawyers, bailiffs, etc.

In some cases, officials illegally used measure of responsibility to the employees of banks for refusing to provide information. Thus, the decision Fokinsky District Court of Bryansk on 12/05/1999 established the illegality of the measure of responsibility bailiff deputy head of the Bryansk Savings Bank of Russia for refusing to provide information constituting bank secrecy. A large number of problems associated with the implementation of paragraph 8 of Presidential Decree 23.05.94 N1006 'On the implementation of comprehensive measures for the timely and full inclusion in the budget of taxes and other obligatory payments' providing for the obligation of banks and other credit agencies to inform the tax authorities to commit individuals (including non-residents) operations for an amount equivalent to 10 thousand dollars and above. According to many researchers, the decree contradicts law and in practice, many banks simply ignore it. In our opinion, the most correct would be to establish the possibility of obtaining information constituting bank secrecy, only by court order, as in many foreign countries (Switzerland, Luxembourg, Germany).

This would increase confidence in Russian banks and to ending 'outflow' of capital abroad. However, this measure requires a change in procedure legislation that currently governs virtually no procedures for obtaining and using confidential information. With the development of the Internet becomes very important issue of ensuring banking secrecy in their operations through telecommunications. This issue is relevant also because, until that legislation is not installed the application systems 'Lawful' (a system of operative-search activities on the networks of documental). (Proceedings of the SORM see:) Thus, the institution of banking secrecy has not yet received a clear legislative regulation, the need is clear for construction rule of law and economic development.

If a person has a need for additional income, then the easiest way may be a bank deposit with monthly interest payments. Then the question arises about the value of such deposit to profit from it equal a certain amount. Of course, this sum is not small, but usually a few times in her life, she is available to most people. Then the person has a choice – either spend it on durable goods consumption (cars, apartments), which, however, will generate a negative return on content. On the other hand, this amount can make a substantial asset with an income that will be important for the owner. Here I show the calculation of this magnitude. Assume that the consumer needed extra income as a share of (n) of their basic income (salary – Z). Period of payments is a month for which the consumer receives the interest with your deposit of size N, with an annual interest rate r.

! in the formula must be substituted values of n and r is not in percentages but in fractions of a unit (for example, instead of 30% must be substituted 0,3) Thus, we need the amount of interest on deposits for the month equal to a percentage of salary consumer: N – size of the deposit, Z – Salary consumer, n – the share of additional income from wages (for example, 0,4 ie 40%), r – the annual deposit rate (eg 0.13). Example. Let us obtain the average salary of 15,000 rubles, and want to earn extra income in the amount of 40% (n) of the salary. We want to open a deposit with an annual rate of 14% (r), so the monthly interest on it were equal to this additional income. Thus, we need a deposit of 514,000 rubles to receive monthly interest equal to 6000 rubles. (= 40% of salary). In this case, the deposit amount remains unchanged.

However, even if a deposit is not reduced nominally, its real value declining inflation. To take into account the impact of inflation, interest must be received divided by the part that will increase the deposit in proportion to inflation, and the remainder used as additional income. Assume that inflation in the year amounts to inf (for example, 11%), then the formula will change as follows: In recent years, the inflation rate is comparable with the rates on deposits, so you should look for other investment assets that provide returns of 20%. These may make structured products (eg, ordinary deposit + option to oil, etc.).