The situation is found in a number of rare-earth compounds in which the narrow f level lies near the
Fermi level, and configurations of the rare-earth ions differing in the number of f electrons (different
valency) have close-lying energies. In this situation many properties of the corresponding substances, both
thermodynamic (heat capacity, magnetic susceptibility, compressibility) and kinetic (optical properties,
electric conductivity, etc.) are anomalous. Isostructural electronic phase transitions occur in these systems
upon changing the external conditions. These are often simultaneously dielectric-metal and magnetic-nonmagnetic
transitions. A phase having a narrow resonance level near EF has been termed an
intermediate-valence (IV) phase. This article reviews generally the problem of intermediate valency. The
fundamental experimental facts are summarized. The conditions for appearance and the qualitative
picture of IV states are discussed. A table is given of the currently know IV substances. The fundamental
theoretical approaches to describing their properties and the electronic phase transitions in these systems
are treated. The connection is established with other problems (the problem of dielectric-metal
transitions, the Kondo effect, etc.). Major attention is paid to the fundamental unsolved problems.