REPO gucuruza mumagambo yoroshye, uko ikora, ni izihe nyungu zamasezerano

Amasezerano yo kugura ni ayahe kandi amasezerano ya REPO akora ate? Mwisi yimari, hariho ibikorwa byinshi bitandukanye, kugura, kugurisha, guhana (barter). Muri byo harimo ibikorwa bya REPO (amasezerano yo kugura), ateganya inguzanyo y’igihe gito, hagakurikiraho no kugura umutungo wimari. Igicuruzwa nkiki gisa ninguzanyo kuri pawnshop, gusa ngaho uwagurijwe ntabona inyungu ku nguzanyo, ahubwo atanga amafaranga yinjiza cyane kugirango asubize ibintu bye.
REPO nikintu gikenewe mwisi yo kuvunja imari. Bitewe nubu bwoko bwubucuruzi, amamiriyoni yabacuruzi kwisi yose babona amafaranga yo kugura impapuro babona ko ari inyungu. Nibyoroshye cyane kurangiza REPO, igikenewe muribi nibihe bigomba kwitabwaho mugihe ugirana amasezerano – imitego yose izamenyekana muriki kiganiro.

Igikorwa cya REPO

Igicuruzwa cya REPO ni amasezerano yo kugurisha no kugura umutungo wimari ufite inshingano yo kugura. Nkuko bisanzwe, ibikorwa bikorwa nijoro, kandi kugaruka bikorwa bukeye bwaho cyangwa nyuma ya saa sita. Muyandi magambo, iyi ni inguzanyo yigihe gito, hamwe ningwate muburyo bwumutungo wimari: imigabane, ingwate. Ibyiza bya REPO nibintu byimpande zombi zubucuruzi:

1. Umugurisha , akenshi ni umucuruzi, yakira amafaranga adafite kaseti itukura.
2. Umuguzi , ubusanzwe ni umunyabigega , ashora imari ku gipimo cyagenwe kandi ingaruka nke.

Ni mu buhe buryo ibikorwa bya REPO bikoreshwa?

Umushoramari asezerana gusa numuryango wemewe. Akenshi akora nk’umuguzi: broker, banki, umuyobozi, umucuruzi, nibindi. Hamwe nubwoko butandukanye bwubucuruzi, ideni riba nkenerwa. Nkuko bisanzwe, iyi ni:

1. Kuvana amafaranga mu buryo bukabije ni ugukuramo amafaranga, aho imigabane n’izindi mpapuro bigira uruhare runini.
2. Gucuruza amafaranga – kwimura imyanya.
3. Gucuruza ku isoko hamwe nintumwa nkuru.

Nigute amasezerano ya REPO akora mugihe akuramo amafaranga?

Ibigo byinshi byemewe n’amategeko bitanga inguzanyo mu gufata inguzanyo, imigabane nizindi mpapuro. Amafaranga ava mu nguzanyo akurwa kuri konti yawe bwite kugirango ayakoreshe wenyine. Umubare ntarengwa w’amafaranga uhabwa umuntu umwe uhwanye nigiciro cyumutekano umwe hamwe nigipimo cyambere cyingaruka – kugabanyirizwa.
Impapuro zemewe zemewe ku isoko rya REPO [/ caption]

Uburyo bwo gucuruza

Ku ikubitiro, hashyizweho amasezerano, agizwe n’ibice bibiri: Hashingiwe kuri iyi nyandiko, umugurisha yoherereza umuguzi umutungo w’imari, umugurisha yiyemeza kubyemera ku munsi wavuzwe kandi akishyura amafaranga yagenwe mbere.
Ku munsi wagenwe mu masezerano, umushoramari asubiza imigabane umugurisha kandi akishyura ibihembo. Umushahara urashobora gutandukana nagaciro kambere k’umutungo wimari muguhana. REPO ikora icyarimwe icyarimwe: mumasoko n’amasezerano yohereza imbere.

Ibyiciro byimikorere ya REPO – itaziguye kandi ihindagurika

Ubwoko bubiri bwubucuruzi burahari uyumunsi: repos itaziguye kandi ihindagurika.

1. Ibikorwa byo kugura mu buryo butaziguye bivuze: umuntu wagujije amafaranga akora kugura imigabane ye kumunsi wagenwe.
2. REPO zinyuranye ziratandukanye cyane nubucuruzi bwabanjirije – umushoramari yakira ingingo yamasezerano kugeza magingo aya kandi akayishyura yose. Ibikorwa birangiye, asubiza impapuro, yakira amafaranga yumvikanyweho.

Hariho ubwoko bwinshi bwibikorwa mugihe cyemewe:

1. Intraday – gucuruza bikorwa kumunsi.
2. Kora ijoro ryose – amasezerano atangira umunsi umwe akarangiza ejobundi.
3. Byemewe – igihe cyo gucuruza kirashobora kuramba ukwezi. Hamwe nubu bwoko, amasezerano afite agaciro kugeza kumunsi runaka, ifite itariki yagenwe kubice byanyuma byamasezerano.
4. Fungura – igihe ntarengwa cyo kurangiza igice cya kabiri cya REPO ntabwo cyashyizweho.

Kurugero, umucuruzi usabwa ukeneye amafaranga yinjiye muri REPO ihinduka. Ikigo cyemewe n’amategeko cyakoze nk’inguzanyo. 
Umucuruzi yari afite imigabane 3000 yagurishijwe miliyoni 3 nubwo yari ifite agaciro ka $ 3.500.000. Ukurikije amasezerano ya REPO, manda yashyizweho ukwezi.
Nyuma yiki gihe, umucuruzi akuramo imigabane ye kandi yishyura amafaranga yinyongera hejuru yumuyobozi. Kubera iyo mpamvu, ukwezi kumwe yafashe imigabane miriyoni 3 n’ibihumbi 200. Ibihumbi 200 – ijanisha ryazamutse ukwezi gukoresha amafaranga ya broker.Abantu benshi bagereranya repo na pawnshop. Uwagurijwe kandi agurisha ikintu gihenze kandi nyuma yukwezi asubiza ibintu bye, yishyura inyungu. Niba umuntu ataje kumpapuro, noneho broker wakoze REPO arashobora kubigurisha, nkuko bagurisha ibintu mumasaro. Uburyo butaziguye kandi buhindura ibikorwa bya REPO bikora – ibisobanuro bya videwo kumasezerano yo kugura: https://youtu.be/p8Lx2dIUUj4

Nigute ushobora kubona inyungu ku migabane yatanzwe?

Niba urutonde rwabagomba guhabwa inyungu rugenwa mugihe cya REPO, noneho amafaranga yose yakiriwe ku nyungu aja kumugurisha byuzuye, kuko ariwe nyiri kumugaragaro, nubwo arigihe gito. Ariko itegeko “Ku isoko ryimigabane” rirengera abagurisha imigabane. Mugihe wakiriye inyungu ziva mumigabane yasezeranijwe, umuguzi agomba kohereza amafaranga kumugurisha. Niba ahisemo kubibika wenyine, noneho amafaranga yo kugura impapuro zizatangira kugabanuka kubera inyungu zabigenewe.

Muri icyo gihe, ugurisha impapuro zifite kandi ibicuruzwa byinshi bibujijwe. Ntashobora kugira uruhare mu nama y’abanyamigabane mu gihe cy’ubucuruzi, kandi ntashobora no kujuririra ibyemezo byabo n’ibikorwa by’isosiyete y’imigabane.

Amasezerano ya REPO ni ayahe, icyo umushoramari n’umucuruzi bakeneye kumenya: https://youtu.be/u38hZgb5dIo

Ingaruka mu masezerano ya REPO

Akaga gakomeye mugihe cyo gukora ayo masezerano ni ukutubahiriza igice cya kabiri cyamasezerano. Rimwe na rimwe, ugurisha imigabane ntabwo afite amafaranga ahagije yo gucungura impapuro. Noneho umuguzi arabigurisha kandi agarura neza igihombo. Ibintu bibi cyane kubacuruzi nigihe umugurisha agarutse nyuma yukwezi kumwe namafaranga ninyungu, kandi uwaguze portfolio yamaze kuyigurisha. Bikunze kubaho ko abahuza bombi mubikorwa banze kuzuza igice cya kabiri cyamasezerano. Ibi bikunze kubaho mugihe ikigega cyazamutse cyangwa munsi yagaciro. Kubera iyo mpamvu, hashobora kubaho ihungabana ry’isoko, bitewe n’uko umwe mu baburanyi yanze kuzuza inshingano zabo, kubera ko amasezerano avuga umubare umwe, kandi impapuro z’agaciro zishobora kurenga iki giciro, cyangwa bagatangira kugiciro gito kidahenze.

Nigute wagabanya ingaruka

Hariho uburyo bubiri bwo kugabanya ingaruka: kugabanuka na premium. Kugabanuka – itandukaniro riri hagati yigiciro cyimigabane yasezeranijwe ku isoko namafaranga ateganijwe mumasezerano ya REPO. Kubireba umushoramari murugero, birashobora kugaragara ko imigabane ifite agaciro karenze amafaranga azagaruka kuri broker ninyungu. Kubwibyo, afite intego yo kugura iyi migabane ndetse no hejuru. Ubu bwoko bwo kugabanywa bwitwa “intangiriro”. Ingano yo kugabanywa ibarwa nkijanisha kandi biterwa nuburyo butajegajega bwimigabane. Niba umucuruzi yarasezeranye
ubururu buhamye, noneho ijanisha ryo kugabanyirizwa rizaba munsi yicy’isosiyete idahagaze neza. Amafaranga yindishyi nubundi buryo bwo kwikingira mugihe ukora transaction ya REPO. Aya ni amafaranga cyangwa impapuro umucuruzi yimurira kuri broker, cyangwa ubundi, niba igiciro cyimpapuro zahawe ingwate cyahindutse cyane. Nibikorwa byubusa ingingo ya kabiri yamasezerano yo kugabanya ibyago byo kutishyura. [ibisobanuro id = “umugereka_11676” align = “aligncenter” ubugari = “675”]
Gucunga ibyago [/ caption] Kugirango wirinde kuburana nibindi bibazo, birakenewe gushyiraho izindi nshingano muri REPO kumpande zombi mugihe habaye impinduka zikomeye kubiciro byimigabane. Muri iki gihe, abinjiye mubucuruzi bategekwa gukora ivugurura kandi, hashingiwe ku guhindura igiciro cyambere cyo kugura, cyangwa kwishyura byiyongereye. Iyo igiciro cyimigabane kizamutse, umugurisha ategekwa gusaba ivugurura nindishyi zinyongera kubihombo mumafaranga cyangwa igice cyimigabane kugirango abone inyungu nyinshi. Ni nako bigenda kubaguze imigabane namafaranga yabo. Mugihe isoko ryasenyutse, bizagaragara ko yaguze impapuro zihenze kumafaranga atangaje kandi, mugihe yongeye kugurisha, ntazashobora kwishyura igihombo cye. Amategeko arengera abaguzi imanza nkizo bityo bakaba bafite uburenganzira bwo gusaba ivugurura no gusubiza amafaranga yabo kugirango bishyure ibyangiritse. Umusanzu w’amafaranga ni ubundi buryo bwo kurinda ingaruka. Muri icyo gihe, umwe mu baburanyi yishyura imburagihe kugira ngo undi muburanyi adashobora kwanga inshingano ku gice cya kabiri cy’ubucuruzi. Muri iki kibazo, ubwishyu bwamafaranga ntabwo ari kubanza gutanga igice cyanyuma cyangwa kwishyura mbere.

Kuvugurura REPO

Kuvugurura hejuru no hepfo bigomba kuba mumasezerano ya REPO. Nyir’imigabane afite uburenganzira bwo gukora ivugurura ryo hejuru niba igiciro cyimpapuro zazamutse hejuru yurwego rwemewe.
Kuvugurura hasi birashobora gukorwa gusa numuntu waguze impapuro. Ibi bibaho mugihe isoko ryangirika kandi impapuro zagaciro zitakaza agaciro kazo. Igihombo cya margin kigomba kugera cyangwa kurenga imipaka yemewe. Muri iki gihe, umuguzi wimpapuro zishobora gusaba ko ugurisha yishyura ibiciro.

Mbere y’isozwa rya REPO, impande zombi zemeranya ku gihe umurongo w’izamuka ry’ibiciro no kugabanuka kwawo uzaba, kandi bakanabara icyuho n’inyungu zirenga.

Igihe nikigera cyo gusuzuma, impande zombi zemeranya hagati y’ibindi bikorwa. Ntibashobora gukora ivugurura, ariko bakora igikorwa cya kabiri cyigikorwa cya REPO mbere yigihe giteganijwe: umwe agurisha imigabane, uwa kabiri akagura inyungu. Inyungu zizaba zitandukanye rwose nibisobanuwe mumasezerano kandi bizatandukana no kuzamuka kwimigabane. Nyuma yo kurangiza REPO, ababuranyi barashobora gukora amasezerano mashya, hitawe ku biciro bishya by’imigabane no guhagarika hakiri kare. Hariho umurongo utandukanye rwose nimyitwarire mugihe ibiciro bihindutse no kuvugurura. Ishyaka ryagize igihombo kinini rirashobora gusaba kwishyura imisanzu yinyungu muburyo bwigice cyimigabane namafaranga. Niba ubwishyu bwarakozwe mubice byifaranga, kandi bitari mubiguzi, noneho inyungu irishyurwa. Urashobora kandi gusubiza amafaranga yose hamwe ninyungu. Ni nako bigenda ku mpapuro zagaciro.

Kuvugurura amasezerano ya REPO kurugero rwa Banki Nkuru

Reka turebe uko impapuro zagaciro zivugururwa muri Banki yUburusiya. Mu gihe cy’amasezerano ya REPO, banki ivugurura impapuro zasezeranijwe buri munsi. Nyuma yo kuvugurura, urwego rushyiraho imipaka yo hejuru no hepfo yo kugabanyirizwa. Turabikesha iyi mibare, igiciro kiri hagati yimigabane n’amafaranga yose uwagurijwe azagaruka aragenwa. Turabikesha, impande zombi zirinda inshingano zo kwishyura ibyangiritse. Icyakora, Banki y’Uburusiya itegetswe kwishyura igihombo cy’uwagurijwe niba REPO yarangiye muri cyamunara kandi igabanywa ryarenze urugero. Niba kugabanuka kurenze imipaka yo hasi, Banki isubiza indishyi muburyo bwamafaranga. Niba REPO yarangijwe nabantu batari muri cyamunara yateguwe hakoreshejwe sisitemu zidasanzwe, noneho Banki ntigisabwa kwishyura imisanzu mumafaranga. Mbere ya byose, banki ibereyemo imyenda yangiza ibyagurijwe inguzanyo. Amafaranga atangwa ari uko banki idafite umubare wimigabane isabwa. Hariho inyungu zitari nke kuri izo REPO zasojwe zitari muri cyamunara hakoreshejwe sisitemu ya Bloomberg: ivugurura rikorwa na Banki y’Uburusiya ntabwo ryihariye kuri buri gikorwa, ahubwo ku bikorwa byose byakozwe na Banki y’Uburusiya ku manywa.

Ingingo ziteganijwe mu masezerano ya REPO

Iyo bagiranye amasezerano, impande zombi zigomba kumvikana kubintu byinshi mbere yo kugirana amasezerano. Ibisabwa kuri REPO ni:

1. Birashoboka kongera gusuzuma agaciro k’agaciro . Birakenewe gushyira iyi ngingo mumasezerano kugirango twirinde ibyabaye nibindi bibazo.
2. Imiterere yemewe nimpande zombi zinjira mubikorwa . Iyo bagiranye amasezerano, impande zombi zemeranya hagati yazo niba amasezerano rusange azasinywa, cyangwa amasezerano na buri muburanyi mwizina ryayo.

REPO mu Burusiya

Umugabane w’ikigega cy’ishoramari, ibyemezo, impapuro, imigabane – ikintu cyose gifite agaciro kanini ku ivunjisha gihinduka ibikoresho byo gucuruza ku isoko ryimigabane. REPO isinywa hagati yumuntu numuryango wemewe n’amategeko, niba aribyo: umunyabigeni, umucuruzi, kubitsa, isosiyete ikora neza, ikigo cyinguzanyo. Abantu babiri ntibashobora kugirana amasezerano
Ibindi bijyanye na REPO na Banki yUburusiya ku Isoko ry’imigabane rya Moscou kuri https://www.moex.com/s968:
Mubikorwa byinshi byimari, hariho ibikorwa bya REPO. Iyi ni inguzanyo y’igihe gito itangirwa ingwate, mubisanzwe imigabane cyangwa ingwate (impapuro).

Urugero rwibikorwa bya REPO

Broker numuntu wagize uruhare mubucuruzi bagiranye amasezerano ya REPO yoherejwe kuwa 23/9/2021. Mu gice cya mbere cy’ubucuruzi, umucuruzi yagurishije paki yimigabane 1.000 yisosiyete yumutungo kamere kubunzi maze abaha amafaranga 300.000. Igiciro kuri buri mugabane mugice cya mbere cya REPO cyari amafaranga 300. Amasezerano avuga ko ugurisha yiyemeje kugura imigabane ye ku ya 25/10/2021 ku mafaranga 303.160. Inyungu kuri buri mugabane mu mpera zukwezi yari 3.16. Kubera iyo mpamvu, umucuruzi yishyuye amafaranga 3,160 gusa, ni ukuvuga 12% kumwaka. Ubu bucuruzi butaziguye, bitewe nuko imigabane yasubijwe na nyirayo. Dufatiye kuri uru rugero, biragaragara ko umukiriya yagurishije imigabane 1.000 yisosiyete runaka ifite agaciro ka 20% kugabanywa kugirango hirindwe izamuka ryibiciro. Igihe cyakozwemo 24.09 – 25.10. Muri kiriya gihe, habaye ubugororangingo maze imigabane yisosiyete itangira kugura amafaranga 309 kumugabane umaze kuba 28.09. Amabanki y’Uburusiya akora ibyo bikorwa kugirango ashyigikire amafaranga muri banki z’ubucuruzi. Kugira ngo ibyo bishoboke, Banki Nkuru yita REPO igurishwa ryo kugurisha no kugura impapuro zagaciro hamwe no kugura cyangwa kugurisha ku itegeko ku munsi wagenwe. Kugirango ukore ibikorwa nkibi, hariho urutonde rwimigabane kurubuga rwemewe rwa Banki Nkuru yiteguye kugura / kugurisha ako kanya binyuze muri REPO. Irimo kandi amatariki n’ibisubizo by’ibyo bikorwa. yiteguye kugura ako kanya / kugurisha binyuze muri REPO. Irimo kandi amatariki n’ibisubizo by’ibyo bikorwa. yiteguye kugura ako kanya / kugurisha binyuze muri REPO. Irimo kandi amatariki n’ibisubizo by’ibyo bikorwa.
Urutonde rwose ruraboneka kuri https://www.cbr.ru/hd_base/infodirectreporub/ Noneho abantu benshi bakoresha REPO mugihe gito. Ibikorwa bikorwa mubucuruzi ku isoko. Nubufasha bwabo, abashoramari nabacuruzi bafungura imyanya migufi bakagurisha imigabane itari iyabo. Broker yatije gusa ishoramari binyuze muri repo kandi agurisha impapuro zose. Amafaranga yakiriwe ashora mu zindi mpapuro, kandi iyo igiciro cyazo kizamutse, umuntu yakira inyungu ze, agura impapuro zagurishijwe n’uguriza kandi agasubiza mu ishoramari. Inyungu ivuye mu migabane yiyongereye iguma ku mucuruzi wagurishije imigabane.