Credit transactions
Under credit transactions can all payments understand that with the use and repayment of loans related.
General
A loan is the granting of use of money ( banknotes , coins , book money ) or reasonable items ( commercial credit ) for a specific or indefinite period. The origin of the word credit is derived from “believe” ( Latin credere ) and “that which is entrusted in good faith” ( Latin creditum ). If one considers only the transfer of a sum of money, this means that the lender trusts to get back the amount of money from the borrower in accordance with the agreements made (payment of interest) in the loan agreement .
The economic importance of credit is based on the ability to separate savers and investors . The loan thus forms a central basis for the economic capital commitment and the efficient use of capital.
Credit transactions can be classified both in terms of overall business economics and economically.
Furthermore, a differentiation can be made between international and national credit transactions. International credit transactions include lendings of capital between those seeking capital (e.g. companies ) from one country and investors from another country (e.g. banks ) in the form of loans. National credit transactions only refer to all credit transactions within Germany.
Sectors of credit traffic
The payment transactions can have different relationships to one another. Thus, the credit traffic can be divided into six sectors, which comprise the different credit relationships.
1st sector: private credit
This includes credit relationships between private individuals and other private individuals (see personal loans ).
2. Sector: corporate credit transactions
This relates to the relationships between companies and private individuals as well as between companies and other companies.
3rd sector: bank lending
This includes credit relationships between credit institutions and private individuals, credit institutions and companies, and credit institutions and other credit institutions.
4. Sector: public credit
Public credit transactions include credit relationships between public authorities on the one hand and credit institutions, companies and private individuals on the other hand and relationships between public authorities and other public authorities.
5. Sector: the central bank's domestic lending
This relates to credit relationships between the central bank and the commercial banks of the respective country as well as between the central bank and the public authorities of the respective country.
6. Sector: supranational credit transactions
This includes credit relationships between supranational financial organizations on the one hand and public bodies, companies, credit institutions and private individuals from different countries on the other. This sector also includes credit relationships between central banks and supranational financial organizations, between supranational financial organizations and other supranational financial organizations, and between central banks and other central banks.
Business importance
Within business administration and especially within the context of finance , the purpose of a loan is to replace insufficient equity . Loans thus represent a form of external financing . By taking out loans, companies have the opportunity to increase their equity, for example to finance necessary investments . The concept of credit transactions includes all economically significant processes of granting, repaying and monitoring credit.
Granting credit
A loan is required that the borrower has an appropriate creditworthiness and creditworthiness . Creditworthiness is the legal ability to take out loans. All persons who are able to conclude legally effective loan agreements are creditworthy. In Germany , these are all fully legally competent persons, legal entities and minors with the consent of their legal representatives and the approval of the Guardianship Court. The creditworthiness takes into account whether persons will be economically able to fulfill the obligations from the loan according to the contract (loan repayment, interest payment, meeting deadlines). With regard to creditworthiness, a distinction can be made between personal and material creditworthiness. While the personal creditworthiness assesses the trustworthiness of the borrower, the material creditworthiness takes into account the economic circumstances of the borrower.
The most important prerequisite for the granting of a loan is the personal creditworthiness of the borrower, since his personal circumstances must aim at the fact that he has the will to fulfill his contractual obligations under the loan agreement . To check the personal creditworthiness are u. a. the credit interview and third party information, such as the SCHUFA information. The material creditworthiness is nevertheless important for the granting of a loan. The aim is to ensure that the loan can be repaid in accordance with the contract. The borrower's income and assets, the reason for taking out the loan and the use of the loan play a decisive role here. In the case of corporate loans, the qualification / structure of the management, the economic position, the market position and the financial position with regard to creditworthiness are also relevant. The credit check of companies must provide statements about the sustainable profitability of the company, taking into account future competitiveness, and statements about the ability to provide the debt service for the debts taken on.
Loan repayment
With regard to the repayment of loans reference should be made to the long-term loans. Long-term loans usually take the form of a loan. A loan can be understood to mean those loans whose payout and repayment amounts are firmly planned. The main types of repayment are the annuity loan , the amortization loan and the bullet loan . With an annuity loan, the total rate to be paid periodically is constant, which means an even liquidity load. Since the amount of the interest-bearing loan decreases with the repayment, the interest amount also decreases. With regard to the amortization loan, it is important that the amortization is constant per period. The advantage here is the linear reduction in the loan. However, the overall liquidity burden is highest at the beginning due to the declining interest burden. In the case of a bullet loan, you only have to pay a constant amount of interest. The repayment takes place in one fell swoop at the end of the term.
Credit monitoring
Since lending is usually associated with risks from the borrower's point of view, credit monitoring is imperative. This monitoring includes a. the monitoring of the collateral that has been provided, the control of the sales development, the monitoring of whether the borrower fulfills his contractual conditions as agreed, the regular checking of the borrower's creditworthiness and the observation of the borrower's environment (customers, suppliers, recipients).
Economic classification
In the context of macroeconomics , the concept of credit transactions is part of the capital account and is often referred to there as other capital transactions . The capital account, which is a partial balance of the balance of payments , records the international changes in all asset positions. The credit transactions within the financial account include book loans, promissory note loans, public-sector loans to developing countries, claims acquired by way of assignment and the like. Ä. Bank balances and trade credits (receivables and liabilities from payment terms and down payments). All components are to be viewed as transactions between Germany and abroad. On the debit side of the balance sheet for credit transactions, the net foreign credit granted abroad is recorded. The credit side contains the domestic net credit granted abroad. Furthermore, you can still differentiate between long-term (with an originally agreed term of more than one year or with an unlimited term) and short-term (with a term of up to one year) loan granting. Net credit granted means that at the end only the balance of the new credit granted and the loan repayment is shown.
literature
- Clemens Jonas: Credit Transactions. In: Corporate Finance. 2nd Edition. Gabler Verlag, Wiesbaden 1988, ISBN 3-409-02427-1 , p. 23ff.
- Helmut Beyer, Ludwig Leinz, Gitta Krabbe, Jochen Lehnhoff: The credit business. 1st edition. Gabler Verlag, Wiesbaden 1993, Wiesbaden, ISBN 3-409-13536-7 .
- Roger Zantow: Finance of the company. 2nd Edition. Pearson Studium, Munich 2007, ISBN 978-3-8273-7278-9 .
- Adam Reining: Lexicon of foreign trade. 1st edition. Munich 2003, ISBN 3-89817-519-7 .
See also
Web links
Individual evidence
- ↑ Clemens Jonas: credit transactions. In: Corporate Finance. 2nd Edition. Gabler Verlag, Wiesbaden 1988, p. 25.
- ↑ ( page no longer available , search in web archives )
- ↑ Clemens Jonas: credit transactions. In: Corporate Finance. 2nd Edition. Gabler Verlag, Wiesbaden 1988, p. 25.
- ↑ http://wiwi.uni-passau.de/fileadmin/dokumente/lehrstuehle/lambsdorff/downloads_SS08/Mon_Aussenw1.ppt (accessed on December 14, 2008)
- ↑ http://www.finance-know-how.de/kredit/kreditgewaehrung.html (accessed on December 31, 2008)
- ↑ H. Beyer, L. Leinz, G. Krabbe, J. Lehnhoff: The lending business. 1st edition. Gabler Verlag, Wiesbaden 1993, p. 83 ff.
- ↑ R. Zantow: finance of the company. 2nd Edition. Pearson Studium, Munich 2007, p. 189 ff.
- ↑ kredit-plan.de
- ↑ ( page no longer available , search in web archives )
- ^ Adam Reining: Lexicon of foreign trade. 1st edition. Munich 2003, p. 56.