Mortgage Credit against Cash as Instrument of Combinatory Analysis
The article is devoted to development of methodological support for assessment of economic purposefulness of mortgage credit against deposit as instrument of financial engineering in the context of unstable financial market. It is shown that ‘technical credit’ is an instrument of financial engineering. The list of tasks is defined which may be carried out due to functionality of the credit against deposit. The main ways of using ‘credit against deposit’ scheme are discussed. The concept is proposed for the mortgage credit against cash of a physical person for procurement of cash for an artificial person. The practice is shown how legal arguments are settled concerning exchange of credit for deposit. Using the specific example it is concluded that it is economically reasonable to use the ‘mortgage credit against deposit’ scheme where borrower is an artificial person and depositor is a physical person. It is substantiated that despite changes in law concerning stabilization on the monetary-credit and currency market, the ‘mortgage credit against cash’ scheme is an efficient instrument of financial engineering.