Kreditinstrument

Kreditinstrument, or credit instrument, is a financial instrument that creates a claim for repayment of borrowed funds or the extension of credit. It includes documents and agreements that evidence debt or a promise to pay and is used by individuals, businesses, and governments to obtain financing.

Common forms include promissory notes, bills of exchange, bonds, loans, lines of credit, letters of credit, bank guarantees, and securitized assets such as asset-backed securities. Instruments can be short-term money market items or long-term debt and may be secured by collateral or unsecured.

Key features include principal, interest, maturity, repayment schedule, and, in many cases, covenants or conditions. Transferability varies: negotiable instruments can be endorsed and traded; non-negotiable forms are bound to the original creditor.

Markets operate in primary issuance and secondary trading. Legal and regulatory frameworks cover contract law, securities regulation, and prudential supervision, while accounting standards (such as IFRS 9) address recognition, measurement, impairment, and disclosures.

Risks include credit risk, liquidity risk, and interest rate risk. Credit instruments influence investment, consumer finance, and corporate funding, and they are used by banks and other lenders to manage liquidity and capital.