THE GENESIS OF TRANSNATIONAL BANKING CAPITAL

Abstract

A retrospective of the development of transnational bank capital is considered. It is revealed that in the course of the evolution of economic relations the concept of capital is transformed and filled with a deeper meaning, in accordance with the paradigm of economic development prevailing at a certain moment in time. Monetary capital, originated as a form of productive capital, stands out from it and becomes the basis for the formation of loan capital. Subsequently, loan and fictitious (titular) capital are combined in the composition of financial capital. In financial capital, today, are united: banking, commercial and industrial forms of capital, and other so-called intangible forms of capital human, information, institutional, political. The author singles out the specific features of the concept of "capital". This is a limited resource that has: the ability to accumulate; liquidity, that is, the ability, irrespective of their objective forms, to become a monetary form; convertibility, which manifests itself in the constant transformation of forms of capital; the ability to self-increase in value in the process of capital circulation. In the article the author critically analyzes the approaches of scientists to its interpretation and suggests the author's definition of capital as an aggregate of monetary, material and intangible resources that are formed from own  and borrowed funds and are attracted to reproducing processes in order to obtain profit at a certain level of risk. The main difference of bank capital is that it is the financial capital that is managed by a banking institution that converts its forms in the course of banking operations in order to obtain profit at a certain level of risk.