I-REPO transaction ngamagama alula, ukuthi isebenza kanjani, iyini inzuzo yesivumelwano

Инвестиции

Siyini isivumelwano sokuthenga futhi sisebenza kanjani isivumelwano se-REPO? Emhlabeni wezezimali, kunemisebenzi eminingi ehlukene, ukuthenga, ukuthengisa, ukushintshanisa (ukushintshana). Phakathi kwazo kukhona imisebenzi ye-REPO (isivumelwano sokuthenga kabusha), esihlinzeka ngemali mboleko yesikhashana, elandelwa ukuthengwa kabusha kwempahla yezezimali. Ukuthengiselana okunjalo kufana nokubolekwa kwemali esitolo se-pawn, kuphela lapho umboleki engayitholi inzalo yemali mboleko, kodwa unikeza imali eyisebenze kanzima ukuze abuyisele into yakhe.
I-REPO transaction ngamagama alula, ukuthi isebenza kanjani, iyini inzuzo yesivumelwanoI-REPO iyinto edingekayo emhlabeni wokushintshana kwezezimali. Ngenxa yalolu hlobo lomsebenzi, izigidi zabahwebi emhlabeni wonke zithola imali yokuthenga izibambiso ezizibona njengenzuzo. Ingabe kulula kangaka ukuphetha i-REPO, okudingekayo kulokhu nokuthi yiziphi izici okufanele zicatshangelwe lapho wenza isivumelwano – zonke izingibe zizodalulwa kulesi sihloko.

Ukusebenza kwe-REPO

Umsebenzi we-REPO yinkontileka yokuthengisa nokuthengwa kwempahla yezezimali enesibopho sokuthenga kabusha. Njengomthetho, ukuthengiselana kwenziwa ebusuku, futhi ukubuya kwenziwa ngakusasa ekuseni noma ntambama. Ngamanye amazwi, lokhu kuyimali mboleko yesikhashana, enesibambiso ngendlela yempahla yezezimali: amasheya, amabhondi. Izinzuzo ze-REPO yizici zazo zombili izinhlangothi zomsebenzi:

  1. Umdayisi , ngokuvamile ongumhwebi, uthola izimali ngaphandle kwe-red tape yasebhange.
  2. Umthengi , ngokuvamile ongumthengisi , utshala ngenani elinqunyiwe kanye nengcuphe encane.

I-REPO transaction ngamagama alula, ukuthi isebenza kanjani, iyini inzuzo yesivumelwano

Kukuziphi izimo lapho imisebenzi ye-REPO isetshenziswa?

Umtshali-zimali uphetha isivumelwano nebhizinisi elisemthethweni kuphela. Ngokuvamile kusebenza njengomthengi: umthengisi, ibhange, umphathi, umdayisi, njll. Ngezinhlobo eziningana zokuhweba, isikweletu siba isidingo. Njengomthetho, lokhu yilokhu:

  1. Ukuhoxiswa kwezimali okuncane ukuhoxiswa kwemali, lapho amasheya nezinye izibambiso zidlala indima enkulu.
  2. Ukuhweba kwe-margin – ukudluliswa kwesikhundla.
  3. Ukuhweba emakethe nge-Central Agent.

Sisebenza kanjani isivumelwano se-REPO lapho ukhipha imali?

Izinkampani ezisemthethweni eziningi ziboleka imali ngokuthatha amabhondi, amasheya nezinye izibambiso. Imali evela emalini ebolekiwe idonselwa ku-akhawunti yomuntu siqu ukuze isetshenziswe wena. Inani eliphakeme lemali elinikezwe umuntu oyedwa lilingana nezindleko zesibambiso esisodwa esinezinga lengozi yokuqala – isaphulelo. [i-id yamagama-ncazo = “okunamathiselwe_11674″ align=”aligncenter” wide=”710″]
I-REPO transaction ngamagama alula, ukuthi isebenza kanjani, iyini inzuzo yesivumelwanoIzibambiso zivunyelwe emakethe ye-REPO[/caption]

Inqubo yokuthengiselana

Ekuqaleni nje, kwakhiwa inkontileka, ehlanganisa izingxenye ezimbili: Ngokusekelwe kulo mbhalo, umthengisi udlulisela izimpahla zezimali kumthengi, umdayisi uthembisa ukuzamukela ngosuku olushiwo futhi akhokhe inani elinqunyelwe kusengaphambili.
I-REPO transaction ngamagama alula, ukuthi isebenza kanjani, iyini inzuzo yesivumelwanoNgosuku olubalulwe esivumelwaneni, umtshali-zimali ubuyisela amasheya kumthengisi futhi akhokhe iholo. Inkokhelo ingase ihluke enanini lokuqala lezimpahla zezimali ekuhwebeni. I-REPO yenza imisebenzi emibili ngesikhathi esisodwa: ezibambiso kanye nenkontileka yokudlulisela phambili.

Izigaba zokuthengiselana kwe-REPO – okuqondile nokuhlehlayo

Izinhlobo ezimbili zokuthengiselana zikhona namuhla: ama-repos aqondile noma ahlehlayo.

  1. Ukuthenga kabusha okuqondile kusikisela ukuthi: umuntu oboleka imali uphinda athenge amasheya akhe ngosuku olumisiwe.
  2. Ama-REPO ahlehlayo ahluke kakhulu kokwenziwe kwangaphambilini – umtshali-zimali uthola isihloko senkontileka ngaleso sikhathi futhi ukhokha inani eliphelele laso. Ekupheleni kokuthengiselana, ubuyisela amaphepha, ethola inani okuvunyelwene ngalo.

I-REPO transaction ngamagama alula, ukuthi isebenza kanjani, iyini inzuzo yesivumelwanoKunezinhlobo ezimbalwa zemisebenzi ngesikhathi sokuqinisekisa:

  1. Intraday – ukuthengiselana kwenzeka phakathi nosuku.
  2. Yenza isivumelwano ubusuku bonke – isivumelwano siqala usuku olulodwa futhi siphele ngolunye.
  3. Kuvumelekile – isikhathi somsebenzi singanwebeka inyanga yonke. Ngalolu hlobo, isivumelwano sisebenza kuze kube idethi ethile, sinedethi emisiwe yengxenye yokugcina yedili.
  4. Vula – umnqamulajuqu wokwenziwa kwengxenye yesibili ye-REPO awumisiwe.

I-REPO transaction ngamagama alula, ukuthi isebenza kanjani, iyini inzuzo yesivumelwano
Isibonelo, umthengisi onemibandela odinga imali ungene ku-REPO ehlanekezelwe. Ibhizinisi elisemthethweni lisebenze njengombolekisi. 
Umhwebi wayenamasheya angu-3 000 athengiswe ngezigidi ezintathu zamaRandi nakuba ayebiza u-$3,500,000. Ngokusekelwe kunkontileka ye-REPO, isikhathi simiselwe inyanga.
Ngemva kwalesi sikhathi, umhwebi uhoxisa amasheya akhe futhi akhokhe imali eyengeziwe phezu kukathishanhloko. Ngenxa yalokho, ngemva kwenyanga wathatha amasheya 3 million 200 ayizinkulungwane. Izinkulungwane ezingama-200 – iphesenti elivele ngenyanga yokusebenzisa imali yomthengisi.Abantu abaningi baqhathanisa i-repo ne-pawnshop. Obolekayo ubuye athengise into ebizayo futhi ngemva kwenyanga abuyise into yakhe, akhokhe inzalo. Uma umuntu engezi ezofuna amaphepha, khona-ke umthengisi owenze i-REPO angawadayisa, njengoba nje ethengisa izinto kuma-pawnshops. Ukusebenza okuqondile nokuhlehliswayo kwe-REPO kusebenza kanjani – incazelo yevidiyo ngesivumelwano sokuthenga: https://youtu.be/p8Lx2dIUUj4

Ungayithola kanjani izabelo kuzabelo ezithenjisiwe?

Uma uhlu lwalabo okufanele bathole izabelo lunqunywa ngesikhathi se-REPO, khona-ke yonke imali etholwe kusukela kuzabelo iya kumthengisi ngokugcwele, ngoba ungumnikazi osemthethweni wezibambiso, nakuba kungeyesikhashana. Kodwa umthetho othi “Emakethe yezibambiso” uvikela abathengisi bamasheya. Esimeni sokuthola izabelo kumasheya esibambiso, umthengi kufanele adlulisele le mali kumdayisi. Uma enquma ukuzigcinela zona, inani lokuthengwa kabusha kwezibambiso lizoqala ukwehla ngenxa yezabelo ezabiwe.

Ngesikhathi esifanayo, umdayisi wezibambiso naye unenombolo yokuvinjelwa. Akakwazi ukubamba iqhaza emhlanganweni wabaninimasheya ngesikhathi sokuthengiselana, futhi ngeke akwazi ukukhalaza ngezinqumo zabo kanye nokuthengiselana kwenkampani yamasheya.

Siyini isivumelwano se-REPO, lokho umtshali-zimali kanye nomhwebi okudingeka bakwazi: https://youtu.be/u38hZgb5dIo

Ubungozi ngaphansi kwesivumelwano se-REPO

Ingozi enkulu ngesikhathi sokwenziwa kokuthengiselana okunjalo ukwehluleka ukufeza ingxenye yesibili yenkontileka. Kwesinye isikhathi umthengisi wamasheya akanayo imali eyanele yokuhlenga amaphepha akhe. Khona-ke umthengi uyazithengisa futhi abuyisele ngokugcwele ukulahlekelwa. Isimo esibi kakhulu kubahwebi yilapho umdayisi ebuya ngemva kwenyanga nemali nenzalo, futhi lowo othenge iphothifoliyo useyidayisile. Ngokuvamile kwenzeka ukuthi bobabili abaxhumanisi bomsebenzi banqabe ukugcwalisa ingxenye yesibili yenkontileka. Lokhu kuvame ukwenzeka lapho isitoko senyuke noma sehle ngenani. Ngenxa yalokhu, kunengozi yokuguquguquka kwemakethe, ngenxa yokuthi omunye wamaqembu uzokwenqaba ukufeza izibopho zabo, ngoba inkontileka ithi inani elilodwa, futhi izibambiso zingase zidlule le ntengo, noma zizoqala ukubiza ngokungenanzuzo ezishibhile.
I-REPO transaction ngamagama alula, ukuthi isebenza kanjani, iyini inzuzo yesivumelwano

Indlela yokunciphisa izingozi

Kunezindlela ezimbili zokunciphisa ubungozi: izaphulelo namaphrimiyamu. Isaphulelo – umehluko phakathi kwentengo yamasheya okubanjisiwe emakethe kanye nemali eshiwo esivumelwaneni se-REPO. Endabeni yomtshali-zimali esibonelweni, kungabonakala ukuthi amasheya abaluleke kakhulu kunemali azoyibuyisela kumthengisi enenzalo. Ngakho-ke, unesisusa sokuthenga la masheya ngisho nangemali ekhokhwayo. Lolu hlobo lwesaphulelo lubizwa ngokuthi “okokuqala”. Usayizi wesaphulelo ubalwa njengephesenti futhi uncike ngokuqondile ekuzinzeni kwamasheya. Uma umhwebi ethembise amashidi
aluhlaza aqinile, bese iphesenti lesaphulelo lizoba ngaphansi kwalelo lenkampani ezinzile. Imali yesinxephezelo ingenye indlela yokuzivikela lapho wenza umsebenzi we-REPO. Lena imali noma izibambiso umthengisi azidlulisela kumdayisi, noma okuphambene nalokho, uma intengo yezibambiso ezibanjiwe ishintshe kakhulu. Lokhu ukuqaliswa kwamahhala kwesigatshana sesibili senkontileka ukuze kuncishiswe ingcuphe yokungaphumeleli. [i-id yamagama-ncazo = “okunamathiselwe_11676” align = “aligncenter” wide = “675”]
I-REPO transaction ngamagama alula, ukuthi isebenza kanjani, iyini inzuzo yesivumelwanoUkulawulwa kobungozi[/caption] Ukuze ugweme ukumangalelana nezinye izinkinga, kuyadingeka ukuba unikeze izibopho ezengeziwe ku-REPO kuzo zombili izinhlangothi uma kwenzeka kuba noshintsho olubukhali enanini lesheya. Kulokhu, labo abangene kumsebenzi baphoqelekile ukuthi benze ukubuyekeza futhi, ngesisekelo sako, bashintshe intengo yokuthenga yoqobo, noma inkokhelo eyengeziwe. Lapho intengo yamasheya ikhuphuka, umthengisi unesibopho sokufuna ukubuyekezwa kanye nesinxephezelo esengeziwe sokulahlekelwa ngemali engukheshi noma ingxenye yamasheya ukuze athole izinzuzo ezengeziwe. Kungokufanayo nakulabo abathenge amasheya ngemali yabo. Uma kwenzeka ukuwa kwemakethe, kuzovela ukuthi uthenge amaphepha ashibhile ngemali enhle futhi, lapho ethengisa kabusha, ngeke akwazi ukubuyisela ukulahlekelwa kwakhe. Umthetho uvikela abathengi emacaleni anjalo ngakho-ke banelungelo lokufuna ukubuyekezwa futhi babuyisele imali yabo ukuze kulungiswe umonakalo. Iminikelo ye-margin ingenye indlela yokuvikela ezingozini. Ngesikhathi esifanayo, elinye lamaqembu lenza inkokhelo ngaphambi kwesikhathi ukuze elinye iqembu lingakwazi ukwenqaba izibopho engxenyeni yesibili yokuthengiselana. Kulesi simo, inkokhelo yemajini ayikona ukulethwa kwangaphambilini engxenyeni yokugcina noma inkokhelo yangaphambi kwesikhathi.
I-REPO transaction ngamagama alula, ukuthi isebenza kanjani, iyini inzuzo yesivumelwano

Ukuhlaziywa kwe-REPO

Ukuhlaziya okuphezulu nangaphansi kufanele kube khona esivumelwaneni se-REPO. Umnikazi wamasheya unelungelo lokwenza ukubuyekezwa okuphezulu uma intengo yezibambiso ikhuphuke ngaphezu kwezinga elivunyelwe.
I-REPO transaction ngamagama alula, ukuthi isebenza kanjani, iyini inzuzo yesivumelwanoUkuhlaziya okuphansi kungenziwa kuphela umuntu othenge izibambiso. Lokhu kwenzeka ngesikhathi lapho imakethe iphahlazeka futhi izibambiso zilahlekelwa inani lazo. Ukushoda kwemajini kufanele kufinyelele noma kweqe umkhawulo ovumelekile. Kulokhu, umthengi wezibambiso angase afune ukuthi umdayisi abuyisele izindleko.

Ngaphambi kokuphela kwe-REPO, amaqembu avumelana ngesikhathi lapho umugqa wokukhula kwentengo kanye nokuwa kwawo uzoba khona, futhi abale ukusilela kanye nomkhawulo oweqile.

Uma kufika isikhathi sokuhlolwa kabusha, zombili izinhlangothi zivumelana phakathi kwazo ngokuqhubekayo. Angase angenzi ukuhlaziya, kodwa enze isenzo sesibili sokuthengiselana kwe-REPO ngaphambi kwesikhathi esimisiwe: oyedwa uthengisa amasheya, kanti owesibili uwathenga ngenzalo. Inzalo izohluka ngokuphelele kulokho okushiwo kwinkontileka futhi izohluka ekukhuleni kwamasheya. Ngemva kokuqedwa kwe-REPO, izinhlangothi zingakwazi ukwenza isivumelwano esisha, ngokucabangela amanani amasha ezibambiso kanye nokuvalwa kwangaphambi kwesikhathi kokuthengiselana. Kunomugqa wokuziphatha ohluke ngokuphelele lapho amanani eshintsha kanye nokubuyekezwa. Iqembu elilahlekelwe kakhulu lingase lifune ukukhokhelwa kweminikelo ye-margin ngesimo sengxenye yamasheya kanye nokheshi. Uma inkokhelo yenziwe ngeyunithi yemali, futhi hhayi ezibambiso, khona-ke inzalo iyakhokhiswa. Ungakwazi futhi ukubuyisela yonke imali nenzalo. Okufanayo kuyasebenza nasezibambiso.

Ukubuyekezwa kwesivumelwano se-REPO ngesibonelo seBhange Elikhulu

Ake sibheke ukuthi izibambiso zibuyekezwa kanjani eBhange LaseRussia. Ngesikhathi sesivumelwano se-REPO, ibhange libuyekeza izibambiso ezithenjisiwe nsuku zonke. Ngemva kokubuyekeza, ibhizinisi libeka imikhawulo ephezulu nephansi yezaphulelo. Ngenxa yalezi zibalo, intengo phakathi kwezibambiso kanye nenani eliphelele umboleki azolibuyisela liyanqunywa. Ngenxa yalokhu, zombili izinhlangothi zigwema isibopho sokukhokha umonakalo wezinto ezibonakalayo. Kodwa-ke, iBhange LaseRussia linesibopho sokunxephezela ukulahlekelwa komboleki uma i-REPO yaqedwa endalini futhi isaphulelo seqe umkhawulo ophezulu. Uma isaphulelo seqa umkhawulo ophansi, iBhange libuyisela isinxephezelo ngendlela yemali. Uma i-REPO yaphethwa abantu abangekho ezindalini ezihleliwe besebenzisa inqwaba yezinhlelo ezikhethekile, kusho ukuthi iBhangengodla alisabophekile ukukhokha iminikelo ngokheshi. Okokuqala, ibhange elinezikweletu livala umonakalo womboleki ngezibambiso. Imali ikhishwa kuphela uma ibhange lingenayo inombolo edingekayo yamasheya. Kunezinzuzo eziningi kulawo ma-REPO aphethwe hhayi ezindalini kusetshenziswa uhlelo lwe-Bloomberg: ukubuyekezwa kwenziwa yiBhange LaseRussia hhayi ngokuhlukana kokuthenga ngakunye, kodwa kulo lonke uchungechunge lwemisebenzi eyenziwa yiBhange LaseRussia phakathi nosuku.

Imigomo eyisibopho yesivumelwano se-REPO

Lapho ziphothula isivumelwano, zombili izinhlangothi kudingeka zixoxisane ngemibandela ethile ngaphambi kokuphothula isivumelwano. Izimfuneko ze-REPO yilezi:

  1. Amathuba okuhlola kabusha inani lezibambiso . Kudingeka ukuthi kufakwe lesi sigatshana esivumelwaneni ukuze kugwenywe izigameko nezinye izinkinga.
  2. Isimo esisemthethweni sazo zombili izinhlangothi ezingena kumsebenzi . Lapho bephetha isivumelwano, izinhlangothi zivumelana phakathi kwazo ukuthi isivumelwano esijwayelekile sizophothulwa, noma isivumelwano seqembu ngalinye egameni lalo.

I-REPO transaction ngamagama alula, ukuthi isebenza kanjani, iyini inzuzo yesivumelwano

I-REPO eRussia

Amasheya esikhwama sokutshalwa kwezimali, izitifiketi, amaphepha, amasheya – yonke into enenani elithile ekushintshanisweni kwesitoko iba amathuluzi okuhweba esihwebeni. I-REPO iphetha phakathi komuntu nenhlangano esemthethweni, uma kungukuthi: umthengisi, umdayisi, indawo yokugcina imali, inkampani esulayo, isikhungo sezikweletu. Abantu ababili abakwazi ukungena ekuhwebeni
I-REPO transaction ngamagama alula, ukuthi isebenza kanjani, iyini inzuzo yesivumelwanoOkuningi mayelana ne-REPO neBhange LaseRussia ku-Moscow Stock Exchange ku-https://www.moex.com/s968:
I-REPO transaction ngamagama alula, ukuthi isebenza kanjani, iyini inzuzo yesivumelwanoEmisebenzini eminingi yezezimali, kukhona ukuthengiselana kwe-REPO. Lena imali mboleko yesikhashana lapho kukhishwa khona isibambiso, ngokuvamile amasheya noma amabhondi (izibambiso).

Isibonelo somsebenzi we-REPO

Umdayisi kanye nomuntu obambe iqhaza ekuhwebeni bangene esivumelwaneni se-REPO sangaphambili ngomhla ka-09/23/2021. Phakathi nengxenye yokuqala yokuthengiselana, umhwebi uthengise iphakheji lamasheya angu-1,000 enkampani yemithombo yemvelo kumthengisi futhi wathola ama-ruble angu-300,000 kubo. Intengo yesheya ngalinye engxenyeni yokuqala ye-REPO yayingama-ruble angu-300. Isivumelwano sithi umdayisi uzibophezela ukuthenga amasheya akhe ngomhlaka-10/25/2021 ngama-ruble angama-303,160. Inzalo yesheya ngalinye ekupheleni kwenyanga yayingama-ruble angu-3.16. Ngenxa yalokho, umhwebi ukhokhe ama-ruble angu-3,160 kuphela, noma i-12% ngonyaka. Lokhu kuthengiselana kuqondile, ngenxa yokuthi amasheya abuyiswe umnikazi wawo. Ngokusekelwe kulesi sibonelo, kuyacaca ukuthi iklayenti lithengise amasheya angu-1,000 enkampani ethile anenani lesaphulelo esingu-20% ukuze livimbele ukukhuphuka kwentengo. Isikhathi lapho umsebenzi wenziwe 24.09 – 25.10. Ngalesi sikhathi, kwakukhona ukulungiswa futhi amasheya enkampani aqala ukubiza ama-ruble angu-309 ngesabelo ngasinye kakade ngo-28.09. Amabhange aseRussia enza le misebenzi ukuze asekele imali emabhange okuhweba. Ukuze wenze lokhu, iBhange Elikhulu libiza i-REPO ukuthengiselana nokudayiswa nokuthengwa kwezibambiso ngokuthengwa kabusha okuyimpoqo noma ukudayiswa ngedethi ethile. Ukwenza ukuthengiselana okunjalo, kukhona uhlu lwamasheya kuwebhusayithi esemthethweni yeBhange Elikhulu elilungele ukuthengwa / ukudayiswa ngokushesha nge-REPO. Futhi iqukethe amadethi nemiphumela yalokho kuthengiselana. ilungele ukuthengwa/ukuthengiswa ngokushesha nge-REPO. Futhi iqukethe amadethi nemiphumela yalokho kuthengiselana. ilungele ukuthengwa/ukuthengiswa ngokushesha nge-REPO. Futhi iqukethe amadethi nemiphumela yalokho kuthenga.
I-REPO transaction ngamagama alula, ukuthi isebenza kanjani, iyini inzuzo yesivumelwanoLonke uhlu luyatholakala kokuthi https://www.cbr.ru/hd_base/infodirectreporub/ Manje abantu abaningi basebenzisa i-REPO yesikhashana. Imisebenzi yenziwa ekuhwebeni emakethe. Ngosizo lwabo, abatshalizimali nabahwebi bavula izikhundla ezimfushane futhi bathengise amasheya okungewona awabo. Umthengisi umane aboleka iphothifoliyo yokutshala imali nge-repo futhi athengise zonke izibambiso. Imali etholiwe itshalwa kwezinye izibambiso, futhi lapho intengo yazo ikhuphuka, umuntu uthola inzuzo yakhe, abuyisele izibambiso ezithengisiwe zomboleki futhi abuyisele iphothifoliyo yokutshala imali. Inzuzo esele evela kumasheya anyukile isala kumhwebi odayise amasheya.

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