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Author: Tony Van Gestel
Publisher: Oxford University Press
ISBN: 0199545111
Category : Business & Economics
Languages : en
Pages : 552
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Book Description
This first of three volumes on credit risk management, providing a thorough introduction to financial risk management and modelling.
Author: Tony Van Gestel
Publisher: Oxford University Press
ISBN: 0199545111
Category : Business & Economics
Languages : en
Pages : 552
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Book Description
This first of three volumes on credit risk management, providing a thorough introduction to financial risk management and modelling.
Author: Joetta Colquitt
Publisher: McGraw Hill Professional
ISBN: 0071510532
Category : Business & Economics
Languages : en
Pages : 385
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Book Description
Credit Risk Management is a comprehensive textbook that looks at the total integrated process for managing credit risk, ranging from the risk assessment of a single obligor to the risk measurement of an entire portfolio. This expert learning tool introduces the principle concepts of credit risk analysis...explains the techniques used for improving the effectiveness of balance sheet management in financial institutions...and shows how to manage credit risks under competitive and realistic conditions. Credit Risk Management presents step-by-step coverage of: The Credit Process_discussing the operational practices and structural processes to implement and create a sound credit environment The Lending Objectives_explaining the credit selection process that is used to evaluate new business, and describing how transaction risk exposure becomes incorporated into portfolio selection risk Company Funding Strategies_presenting an overview of the funding strategies on some of the more commonly used financial products in the extension of business credit Company Specific Risk Evaluation_outlining some fundamental credit analysis applications that can be used to assess transactions through the framework of a risk evaluation guide Qualitative Specific Risk Evaluation_offering additional approaches to risk evaluate a borrower's industry and management Credit Risk Measurement_defining the role of credit risk measurement, presenting a basic framework to measure credit risk, and discussing some of the standard measurement applications to quantify the economic loss on a transaction's credit exposure Credit Portfolio Management_exploring the basic concepts behind credit portfolio management, and highlighting the distinctive factors that drive the management of a portfolio of credit assets compared to a single asset Credit Rating Systems_analyzing the pivotal role that credit rating systems have come to play in managing credit risk for lenders The Economics of Credit_showing how the modern credit risk approach has changed the economics of credit in order to achieve more profitable earnings and maintain global stability in the financial markets Filled with a wide range of study aids, Credit Risk Management is today's best guide to the concepts and practices of modern credit risk management, offering practitioners a detailed roadmap for avoiding lending mishaps and maximizing profits.
Author: Thomas A. Durkin
Publisher:
ISBN: 0195169921
Category : Business & Economics
Languages : en
Pages : 737
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Book Description
Consumer Credit and the American Economy examines the economics, behavioral science, sociology, history, institutions, law, and regulation of consumer credit in the United States. After discussing the origins and various kinds of consumer credit available in today's marketplace, this book reviews at some length the long run growth of consumer credit to explore the widely held belief that somehow consumer credit has risen "too fast for too long." It then turns to demand and supply with chapters discussing neoclassical theories of demand, new behavioral economics, and evidence on production costs and why consumer credit might seem expensive compared to some other kinds of credit like government finance. This discussion includes review of the economics of risk management and funding sources, as well discussion of the economic theory of why some people might be limited in their credit search, the phenomenon of credit rationing. This examination includes review of issues of risk management through mathematical methods of borrower screening known as credit scoring and financial market sources of funding for offerings of consumer credit. The book then discusses technological change in credit granting. It examines how modern automated information systems called credit reporting agencies, or more popularly "credit bureaus," reduce the costs of information acquisition and permit greater credit availability at less cost. This discussion is followed by examination of the logical offspring of technology, the ubiquitous credit card that permits consumers access to both payments and credit services worldwide virtually instantly. After a chapter on institutions that have arisen to supply credit to individuals for whom mainstream credit is often unavailable, including "payday loans" and other small dollar sources of loans, discussion turns to legal structure and the regulation of consumer credit. There are separate chapters on the theories behind the two main thrusts of federal regulation to this point, fairness for all and financial disclosure. Following these chapters, there is another on state regulation that has long focused on marketplace access and pricing. Before a final concluding chapter, another chapter focuses on two noncredit marketplace products that are closely related to credit. The first of them, debt protection including credit insurance and other forms of credit protection, is economically a complement. The second product, consumer leasing, is a substitute for credit use in many situations, especially involving acquisition of automobiles. This chapter is followed by a full review of consumer bankruptcy, what happens in the worst of cases when consumers find themselves unable to repay their loans. Because of the importance of consumer credit in consumers' financial affairs, the intended audience includes anyone interested in these issues, not only specialists who spend much of their time focused on them. For this reason, the authors have carefully avoided academic jargon and the mathematics that is the modern language of economics. It also examines the psychological, sociological, historical, and especially legal traditions that go into fully understanding what has led to the demand for consumer credit and to what the markets and institutions that provide these products have become today.
Author: Clark R. Abrahams
Publisher: John Wiley & Sons
ISBN: 9780470241899
Category : Business & Economics
Languages : en
Pages : 356
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Book Description
Praise for Fair Lending ComplianceIntelligence and Implications for Credit Risk Management "Brilliant and informative. An in-depth look at innovative approaches to credit risk management written by industry practitioners. This publication will serve as an essential reference text for those who wish to make credit accessible to underserved consumers. It is comprehensive and clearly written." --The Honorable Rodney E. Hood "Abrahams and Zhang's timely treatise is a must-read for all those interested in the critical role of credit in the economy. They ably explore the intersection of credit access and credit risk, suggesting a hybrid approach of human judgment and computer models as the necessary path to balanced and fair lending. In an environment of rapidly changing consumer demographics, as well as regulatory reform initiatives, this book suggests new analytical models by which to provide credit to ensure compliance and to manage enterprise risk." --Frank A. Hirsch Jr., Nelson Mullins Riley & Scarborough LLP Financial Services Attorney and former general counsel for Centura Banks, Inc. "This book tackles head on the market failures that our current risk management systems need to address. Not only do Abrahams and Zhang adeptly articulate why we can and should improve our systems, they provide the analytic evidence, and the steps toward implementations. Fair Lending Compliance fills a much-needed gap in the field. If implemented systematically, this thought leadership will lead to improvements in fair lending practices for all Americans." --Alyssa Stewart Lee, Deputy Director, Urban Markets Initiative The Brookings Institution "[Fair Lending Compliance]...provides a unique blend of qualitative and quantitative guidance to two kinds of financial institutions: those that just need a little help in staying on the right side of complex fair housing regulations; and those that aspire to industry leadership in profitably and responsibly serving the unmet credit needs of diverse businesses and consumers in America's emerging domestic markets." --Michael A. Stegman, PhD, The John D. and Catherine T. MacArthur Foundation, Duncan MacRae '09 and Rebecca Kyle MacRae Professor of Public Policy Emeritus, University of North Carolina at Chapel Hill
Author: Sylvain Bouteille
Publisher: John Wiley & Sons
ISBN: 1118300203
Category : Business & Economics
Languages : en
Pages : 44
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Book Description
A comprehensive guide to credit risk management The Handbook of Credit Risk Management presents a comprehensive overview of the practice of credit risk management for a large institution. It is a guide for professionals and students wanting a deeper understanding of how to manage credit exposures. The Handbook provides a detailed roadmap for managing beyond the financial analysis of individual transactions and counterparties. Written in a straightforward and accessible style, the authors outline how to manage a portfolio of credit exposures--from origination and assessment of credit fundamentals to hedging and pricing. The Handbook is relevant for corporations, pension funds, endowments, asset managers, banks and insurance companies alike. Covers the four essential aspects of credit risk management: Origination, Credit Risk Assessment, Portfolio Management and Risk Transfer. Provides ample references to and examples of credit market services as a resource for those readers having credit risk responsibilities. Designed for busy professionals as well as finance, risk management and MBA students. As financial transactions grow more complex, proactive management of credit portfolios is no longer optional for an institution, but a matter of survival.
Author: Lyn C. Thomas
Publisher: OUP Oxford
ISBN: 0191552496
Category : Business & Economics
Languages : en
Pages : 400
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Book Description
The use of credit scoring - the quantitative and statistical techniques to assess the credit risks involved in lending to consumers - has been one of the most successful if unsung applications of mathematics in business for the last fifty years. Now with lenders changing their objectives from minimising defaults to maximising profits, the saturation of the consumer credit market allowing borrowers to be more discriminating in their choice of which loans, mortgages and credit cards to use, and the Basel Accord banking regulations raising the profile of credit scoring within banks there are a number of challenges that require new models that use credit scores as inputs and extensions of the ideas in credit scoring. This book reviews the current methodology and measures used in credit scoring and then looks at the models that can be used to address these new challenges. The first chapter describes what a credit score is and how a scorecard is built which gives credit scores and models how the score is used in the lending decision. The second chapter describes the different ways the quality of a scorecard can be measured and points out how some of these measure the discrimination of the score, some the probability prediction of the score, and some the categorical predictions that are made using the score. The remaining three chapters address how to use risk and response scoring to model the new problems in consumer lending. Chapter three looks at models that assist in deciding how to vary the loan terms made to different potential borrowers depending on their individual characteristics. Risk based pricing is the most common approach being introduced. Chapter four describes how one can use Markov chains and survival analysis to model the dynamics of a borrower's repayment and ordering behaviour . These models allow one to make decisions that maximise the profitability of the borrower to the lender and can be considered as part of a customer relationship management strategy. The last chapter looks at how the new banking regulations in the Basel Accord apply to consumer lending. It develops models that show how they will change the operating decisions used in consumer lending and how their need for stress testing requires the development of new models to assess the credit risk of portfolios of consumer loans rather than a models of the credit risks of individual loans.
Author: Ciby Joseph
Publisher: John Wiley & Sons
ISBN: 111860489X
Category : Business & Economics
Languages : en
Pages : 454
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Book Description
Credit is essential in the modern world and creates wealth, provided it is used wisely. The Global Credit Crisis during 2008/2009 has shown that sound understanding of underlying credit risk is crucial. If credit freezes, almost every activity in the economy is affected. The best way to utilize credit and get results is to understand credit risk. Advanced Credit Risk Analysis and Management helps the reader to understand the various nuances of credit risk. It discusses various techniques to measure, analyze and manage credit risk for both lenders and borrowers. The book begins by defining what credit is and its advantages and disadvantages, the causes of credit risk, a brief historical overview of credit risk analysis and the strategic importance of credit risk in institutions that rely on claims or debtors. The book then details various techniques to study the entity level credit risks, including portfolio level credit risks. Authored by a credit expert with two decades of experience in corporate finance and corporate credit risk, the book discusses the macroeconomic, industry and financial analysis for the study of credit risk. It covers credit risk grading and explains concepts including PD, EAD and LGD. It also highlights the distinction with equity risks and touches on credit risk pricing and the importance of credit risk in Basel Accords I, II and III. The two most common credit risks, project finance credit risk and working capital credit risk, are covered in detail with illustrations. The role of diversification and credit derivatives in credit portfolio management is considered. It also reflects on how the credit crisis develops in an economy by referring to the bubble formation. The book links with the 2008/2009 credit crisis and carries out an interesting discussion on how the credit crisis may have been avoided by following the fundamentals or principles of credit risk analysis and management. The book is essential for both lenders and borrowers. Containing case studies adapted from real life examples and exercises, this important text is practical, topical and challenging. It is useful for a wide spectrum of academics and practitioners in credit risk and anyone interested in commercial and corporate credit and related products.
Author: Clark R. Abrahams
Publisher: John Wiley & Sons
ISBN: 0470461683
Category : Business & Economics
Languages : en
Pages : 320
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Book Description
Credit Risk Assessment The New Lending System for Borrowers, Lenders, and Investors Credit Risk Assessment: The New Lending System for Borrowers, Lenders, and Investors equips you with an effective comprehensive credit assessment framework (CCAF) that can provide early warning of risk, thanks to its forward-looking analyses that do not rely on the premise that the past determines the future. Revealing how an existing credit underwriting system can be extended to embrace all relevant factors and business contexts in order to accurately classify credit risk and drive all transactions in a transparent manner, Credit Risk Assessment clearly lays out the facts. This well-timed book explores how your company can improve its current credit assessment system to balance risk and return and prevent future financial disruptions. Describing how a new and comprehensive lending framework can achieve more complete and accurate credit risk assessment while improving loan transparency, affordability, and performance, Credit Risk Assessment addresses: How a CCAF connects borrowers, lenders, and investors with greater transparency The current financial crisis and its implications The root cause to weaknesses in loan underwriting practices and lending systems The main drivers that undermine borrowers, lenders, and investors Why a new generation of lending systems is needed Market requirements and how a comprehensive risk assessment framework can meet them The notion of an underwriting gap and how it affects the lenders' underwriting practices Typical issues associated with credit scoring models How improper use of credit scoring in underwriting underestimates the borrower's credit risk The ways in which the current lending system fails to address loan affordability How mortgage and capital market financial innovation relates to the crisis
Author: Frank Tian
Publisher:
ISBN: 9781777592707
Category :
Languages : en
Pages : 274
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Book Description
Unsecured Lending Risk Management provides a comprehensive introduction that will help readers quickly establish a holistic view of the risk management practices in this traditional, yet quickly evolving industry of unsecured lending. In this easy-to-follow guide, all behind-the-scenes risk management decisions and best practices are revealed.
Author: Jing Jian Xiao
Publisher: Springer
ISBN: 3319288873
Category : Psychology
Languages : en
Pages : 379
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Book Description
This second edition of the authoritative resource summarizes the state of consumer finance research across disciplines for expert findings on—and strategies for enhancing—consumers’ economic health. New and revised chapters offer current research insights into familiar concepts (retirement saving, bankruptcy, marriage and finance) as well as the latest findings in emerging areas, including healthcare costs, online shopping, financial therapy, and the neuroscience behind buyer behavior. The expanded coverage also reviews economic challenges of diverse populations such as ethnic groups, youth, older adults, and entrepreneurs, reflecting the ubiquity of monetary issues and concerns. Underlying all chapters is the increasing importance of financial literacy training and other large-scale interventions in an era of economic transition. Among the topics covered: Consumer financial capability and well-being. Advancing financial literacy education using a framework for evaluation. Financial coaching: defining an emerging field. Consumer finance of low-income families. Financial parenting: promoting financial self-reliance of young consumers. Financial sustainability and personal finance education. Accessibly written for researchers and practitioners, this Second Edition of the Handbook of Consumer Finance Research will interest professionals involved in improving consumers’ fiscal competence. It also makes a worthwhile text for graduate and advanced undergraduate courses in economics, family and consumer studies, and related fields.
