FEATURES OF REGULATORY IDENTIFICATION OF FINANCIAL COMPANIES AS FINANCIAL INTERMEDIARIES
| Autor: | S. V. Naumenkova, S. V. Mishchenko, V. I. Mishchenko |
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| Jazyk: | English<br />Ukrainian |
| Rok vydání: | 2019 |
| Předmět: | |
| Zdroj: | Фінансово-кредитна діяльність: проблеми теорії та практики, Vol 1, Iss 28 (2019) |
| Druh dokumentu: | article |
| ISSN: | 2306-4994 2310-8770 |
| DOI: | 10.18371/fcaptp.v1i28.163387 |
| Popis: | In recent years,Ukrainehas witnessed a rapid increase in the number and intensification of financial companies' activities in the financial services market, which is increasing the attention to this type of financial intermediaries. The generalization of historical experience suggests that financial companies in various forms began to operate in foreign countries from the 1960s, but they have become the most widespread in theUnited States. On the basis of the Federal Reserve System data processing for the period of 2005 - 2017, results were obtained that characterize the peculiarities of the activities of financial companies in such segments of the financial services market as consumer lending, car loans, auto leasing. The main criteria for identifying financial companies in theUnited Statesare requirements for the structure of assets, which provides a clearer definition of the use of regulatory measures and restricts the competition between financial intermediaries. The study concluded that in Ukraine the criteria for identifying financial companies need to be clarified in terms of specifying regulatory requirements, limiting the risks associated with financial assets in the provision of financial services, as well as preventing possible loss of capital and timely fulfillment obligations to customers. The cooperation of financial companies with banks and other non-bank financial intermediaries, such as lenders and credit brokers, working in the consumer lending service segment needs regulatory clearance. The emphasis is placed on the need for harmonization of Ukrainian legislation in accordance with international practice in order to stimulate the further development of the financial intermediary institution in Ukraine. |
| Databáze: | Directory of Open Access Journals |
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