THE OBJECTIVE NECESSITY AND FUNCTIONAL PURPOSE OF THE SYSTEM OF CREDIT RELATIONS

The theoretical approaches to the definition of the economic substance of the loan and credit relations are the subject of research. The aim of the article is to prove the functioning of credit relations as a system. Objectives of the study. On the basis of a definied aim in the article an evaluation of the approaches to the essence of the credit relations and the composition of their subjects were made, the essence of the credit relations, their functions and subsystems were determined. Research methods. The methods of theoretical generalization and comparison, the system analysis methods were applied in the article. Formulation of the problem. Despite the presence of significant developments of domestic and foreign scientists about the understanding of the credit relationship, it is important to deepen research in this field in the terms of increase of loan applications and intensify involvement of the subsidiary subjects in credit relations. Results of the study. In modern conditions the modification of scientific approaches to understanding the essence of the credit relationship, their subjects and credit functions are observed . It creates the basis for the functioning of the credit relationship, which includes subsystems to attract savings, loans, trust loans and related services. Scope of the results. The results obtained provide the theoretical basis for the functioning of credit relations as a system. Conclusions. Credit relationship system ? is organized and institutionalized by the law system of economic relations regarding the creation of the common product by its creditors and indirect subjects that creates sinergetic effect due to the functional coordination of its subjects. The role of the credit relationship system can be viewed from two sides. First, it consists in complex satisfaction of the needs of consumers in the financial credit related services. Secondly - it consists in creating a secure environment for the efficient functioning of financial institutions that provide these services. The purpose of the credit relationship is in its interaction with budgetary and fiscal relations and moral sphere of public life; in creation of a new use-value by expanding the assortment of services; in changing of price orientation; in encouranging national economic competitiveness due to the synergetic effect that is achieved through the coordination of its functional entities.