0.1 Increase of efficiency in the use of securities in eliminating  (Page 3/4)

Further means on the perspective use of potential are bank bonds which also have a number of the important advantages to banks in comparison with actions and other kinds of share securities. So, in comparison with stocks their advantage to banks is that their release does not threaten owners of banks with washing out of actions and control loss over a banking establishment. The main advantage of bank bonds to investors is the higher level of reliability of an investment acts in the absence of risk of a non-return of the enclosed placed investment as in a case with actions, and also giving to many banks possibility to use their additional services of banks. In the post crisis period, a great popularity was received by so-called coupon bonds, intermediate term and long-term bank bonds, and also the bonds converted at will of their owners in the stocks of the joint-stock enterprises. Release by banks of coupon bonds has involved interest of small investors as they have allowed them to compensate inflationary costs and to fill the shortage of turnaround money resources. Issue of intermediate term bank bonds has involved interest of the average private and large conservative investors having free financial resources, but not wishing to incur the big investment risks connected with possession by bank actions. Their release is favorable to commercial banks themselves since they will allow the access to investment recourses, the demand for which grows constantly from the side of various categories of subjects of managing.

In the conditions of elimination of consequences of the world financial crisis, the major criterion of efficiency of use of potential of securities was an activization of their investment activity. The commercial banks which are not possessing competitive investment strategy and do not have strong experts in this area have lost chances of a sustainable development as they become incapable to sustain struggle in the market of bank services. If before the crisis the main investment activity of banks was a credit activity, now it is gradually becoming the ability to build and put into practices the weighed investment policies at the expense of skillful use of investment potential of securities. Moving of the centre of gravity from credit activity to the investment is caused by the world tendency to large scale of bank activity. The given tendency is connected with a problem of reduction of bank margin because of constant reduction of level of depository rates and impossibility of unbalanced increase of rates for credits. At the heart of qualitatively new relation of banks to investment management there lays the fundamental ability of securities, at the correct account of their investment qualities to bring to their owners a higher and stable profit, different in its long-term character.

The post crisis period requires from the CIS countries reorientation to the qualitatively new strategy of the movement to the market, based on creation of accurately expressed corporate basis of the organization of the enterprises of key economic branches of national economies. This has demanded the creation of the integrated corporate structures in the form of financial and industrial groups, the holding companies and other associations of conglomeratic type created by integration of both the industrial and financial capital and functioning on the basis of share capital issue, through its consolidation, an exchange of shares and other forms of modern financial engineering. An active role in creation and functioning of the specified highly integrated corporate structures should have commercial banks, capable to act on it and as the most reliable emitters, and as the largest investors, and as professional operators.