ISSUE OF THE ESSENCE OF THE CONCEPT CREDIT IN THE CONTEXT OF CREDIT MARKET DEVELOPMENT

. The development of credit markets in the context of the study of the nature of credit determines strategic approaches and principles of optimization and improvement of credit relations in the financial sector. This requires a deep theoretical study and analysis of understanding and formulation of the essence of both credit and credit market as economic concept that form the conceptual content of the studied relations. Despite the antiquity of the essence of credit and credit market as economic categories, disputes about their theoretical interpretation, which is of fundamental importance in modern market conditions, still persist. Scientific analysis of the results of research on this problem shows that there is no unified approach to the economic essence of both categories— credit and credit market, which form the basis of credit relations. The study of credit relations in market conditions of economic management gives grounds to assert that credit and credit market are economic categories characterizing the relations arising between banking institutions and borrowers on the distribution and redistribution of free monetary funds, temporarily released in the process of production to borrowed funds. The research has shown that the essence of credit and credit markets is an independent economic category forming an independent niche in the general system of credit relations. This requires both theoretical research and analysis of understanding and clarification of the essence of credit and credit markets as economic categories that form the semantic content of the studied relations. Research has shown that since the field of lending is subject to the general laws of the market and the behavior of lenders and borrowers is completely subordinate to them, the methodological approach to lending should be based on both the basic principles of the nature of credit and the principles of the nature of credit market.