An analysis of world experience shows that in recent years leasing operations have been an inseparable part of the economy in many countries. At the moment 20%-25% of investment in developed countries is accounted for by leasing operations. The undisputed leader in the world leasing market is the U.S. The U.S. accounts for about 52% of total leasing in the world, 25%-30% of investment in equipment is carried out in the form of leasing, and the annual turnover on the leasing market in 2003 amounted to $208 billion. One of the reasons for the rapid development of leasing in the U.S. was tax benefits: accelerated amortization and investment tax breaks. However, the U.S. Internal Revenue Department carefully monitors to make sure that tax benefits are not used to mask the purchase and sale of property, as a result regulations governing relations in the leasing sphere are periodically published.

The history of the leasing sector, like all others, has had its crises and growth periods. For example, in the 1960s a significant number of independent leasing companies started to actively lease IBM computers. A total of 50 large leasing companies in the 1960s chose leasing IBM-360 as their main areas of business. A large number of clients started to apply to leasing companies for this equipment, as it was more expensive to lease this equipment from the producers than from independent companies. What happened next? Something that nobody expected. IBM developed a new computer – the IBM-370. This led to a significant drop in market value of the leased IBM-360 and the return of this equipment and non-payments started. Most of these leasing companies went to the wall. Insurance companies that insured the residual value of the computers also carried enormous losses.

Until 1970 in the U.S. leasing involved mainly expensive equipment, such as planes, heavy trucks and trains. The current impulse for the comprehensive development of the leasing sector came from the passing in 1970 of the Bank Holding Company Act. Prior to this banks were not permitted to be involved in leasing, but this law allowed banks to set up holding companies that were could be involved in leasing operations. Banks took leasing very seriously, bursting onto the market. Many independent companies were bought up by banks and professional young people entered the market who, having access to clients through the bank infrastructure, heated up this market and aroused a general interest in leasing as an accessible retail financial product. Banks invested significant amounts in developing their leasing companies and leasing became popular as an accessible means of financing the acquisition of practically any property.

With the development of the sector, the need arose to establish unified principles for accounting and disclosure of information about leasing operations. The SEC led the process of improving accounting principles. The principles of accounting leasing operations were constantly improved from 1964 until 1976, which led to the passing of Financial Accounting Standard No. 13 in 1976. This standard, which is still in place, introduces clear and transparent accounting for all leasing operations, which ensures an ongoing influx of capital into the sector, stimulating the development of the market for corporate and debt instruments issued by leasing companies.