Solovova, E.V. Issue of state and municipal securities as means to attract loaned funds in the USA.

Abstract: This article contains analysis of some types of state and municipal securities issued in the USA in order to finance the budget deficit and certain economic and social programs. The USA has one of the strongest economies in the world, and it also holds a first place in the world on the amount of loans, which are not now beyond 16 USD Trillion. The most of the public debt in the USA is formed by securities issued by state and municipal bodies, municipal debts including debts of all government bodies except federal ones. The analysis of some types of financial instruments as issued by the federal government, the states, municipalities and non-governmental organizations is of special value within the context of analysis of the public credit institution, since in the USA issuing of securities by the government bodies or other empowered subjects is a dominating form of public loan. It is necessary to point out that the evaluation of key parameters and characteristic features of this type of financial instruments allows to hold a detailed study of public loans in the USA, and it may also serve as a basis for the further analysis of Russian theory and practice of use of state and municipal securities as a mechanism of loans by the government bodies of various levels.

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