WorldWideScience

Sample records for government issued credit

  1. Transaction cost determinants of credit governance structures of ...

    African Journals Online (AJOL)

    This paper explores transaction cost determinants of credit governance structures (CGS) of commercial banks in Tanzania. Descriptive statistics, linear regression model, binary and multinomial logistic regression models were employed for analysis. Findings revealed four modes of credit governance structures that are ...

  2. Sustaining Satisfaction for Credit Risk Governance: Empirical Evidence from Indian Commercial Banks

    Science.gov (United States)

    Arora, Anju

    2015-01-01

    This paper explores the issues underlying the credit risk governance mechanism of banking institutions in emerging economies. This is an important area of study given the essential role that banks play in the financial markets of emerging economies and the widespread banking reforms that these economies have implemented. The aim of this study is…

  3. Modelling local government unit credit risk in the Republic of Croatia

    Directory of Open Access Journals (Sweden)

    Petra Posedel

    2012-12-01

    Full Text Available The objective of this paper is to determine possible indicators that affect local unit credit risk and investigate their effect on default (credit risk of local government units in Croatia. No system for the estimation of local unit credit risk has been established in Croatia so far causing many practical problems in local unit borrowing. Because of the specific nature of the operations of local government units and legislation that does not allow local government units to go into bankruptcy, conventional methods for estimating credit risk are not applicable, and the set of standard potential determinants of credit risk has to be expanded with new indicators. Thus in the paper, in addition to the usual determinants of credit risk, the hypothesis of the influence of political factors on local unit credit risk in Croatia is also tested out, with the use of a Tobit model. Results of econometric analysis show that credit risk of local government units in Croatia is affected by the political structure of local government, the proportion of income tax and surtax in operating revenue, the ratio of net operating balance, net financial liabilities and direct debt to operating revenue, as well as the ratio of debt repayment and cash, and direct debt and operating revenue.

  4. 41 CFR 101-26.502 - U.S. Government National Credit Card.

    Science.gov (United States)

    2010-07-01

    ... Credit Card. 101-26.502 Section 101-26.502 Public Contracts and Property Management Federal Property... SOURCES AND PROGRAM 26.5-GSA Procurement Programs § 101-26.502 U.S. Government National Credit Card. A... Standard Form 149, U.S. Government National Credit Card. [60 FR 19674, Apr. 20, 1995] ...

  5. 41 CFR 109-38.801 - Obtaining SF 149, U.S. Government National Credit Card.

    Science.gov (United States)

    2010-07-01

    .... Government National Credit Card. 109-38.801 Section 109-38.801 Public Contracts and Property Management..., U.S. Government National Credit Card § 109-38.801 Obtaining SF 149, U.S. Government National Credit Card. DOE offices electing to use national credit cards shall request the assignment of billing address...

  6. Issues for effective implementation of burnup credit

    International Nuclear Information System (INIS)

    Parks, C.V.; Wagner, J.C.

    2001-01-01

    In the United States, burnup credit has been used in the criticality safety evaluation for storage pools at pressurized water reactors (PWRs) and considerable work has been performed to lay the foundation for use of burnup credit in dry storage and transport cask applications and permanent disposal applications. Many of the technical issues related to the basic physics phenomena and parameters of importance are similar in each of these applications. However, the nuclear fuel cycle in the United States has never been fully integrated and the implementation of burnup credit to each of these applications is dependent somewhat on the specific safety bases developed over the history of each operational area. This paper will briefly review the implementation status of burnup credit for each application area and explore some of the remaining issues associated with effective implementation of burnup credit. (author)

  7. Effects of Corporate Social Responsibility and Governance on Its Credit Ratings

    Science.gov (United States)

    Kim, Dong-young

    2014-01-01

    This study reviews the impact of corporate social responsibility (CSR) and corporate governance on its credit rating. The result of regression analysis to credit ratings with relevant primary independent variables shows that both factors have significant effects on it. As we have predicted, the signs of both regression coefficients have a positive sign (+) proving that corporates with excellent CSR and governance index (CGI) scores have higher credit ratings and vice versa. The results show nonfinancial information also may have effects on corporate credit rating. The investment on personal data protection could be an example of CSR/CGI activities which have positive effects on corporate credit ratings. PMID:25401134

  8. Effects of corporate social responsibility and governance on its credit ratings.

    Science.gov (United States)

    Kim, Dong-young; Kim, JeongYeon

    2014-01-01

    This study reviews the impact of corporate social responsibility (CSR) and corporate governance on its credit rating. The result of regression analysis to credit ratings with relevant primary independent variables shows that both factors have significant effects on it. As we have predicted, the signs of both regression coefficients have a positive sign (+) proving that corporates with excellent CSR and governance index (CGI) scores have higher credit ratings and vice versa. The results show nonfinancial information also may have effects on corporate credit rating. The investment on personal data protection could be an example of CSR/CGI activities which have positive effects on corporate credit ratings.

  9. The Relationship Between Corporate Governance Characteristics and Credit Exposure in Banks

    DEFF Research Database (Denmark)

    Rose, Caspar

    2017-01-01

    estate loans. By employing quantitative governance variables the article finds that increased executive director remuneration is associated with increased credit risk posed by the bank’s borrowers. On the other hand, increasing the number of executive/“inside” directors is associated with a lower credit...... executive director remuneration. The policy implication is that financial authorities should be increasingly aware of insufficient corporate governance characteristics in order to prevent excessive credit risk exposure. Moreover, the article provides important insights on which corporate governance...... the “Supervision Diamond” introduced by the Danish FSA, which “external” board directors must address. It contains five thresholds for measuring a bank’s exposure to credit risks i.e. the proportion of large customers, lending growth, the ratio of lending/deposits, liquidity buffer and the proportion of real...

  10. Linkage of Credit on BI Rate, Funds Rate, Inflation and Government Spending on Capital

    Directory of Open Access Journals (Sweden)

    Mangasa Augustinus Sipahutar

    2017-03-01

    Full Text Available Linkage of credit on BI rate, funds rate, inflation, and government spending on capital provides evidence from Indonesia.  This paper found advance explanation about banks credit as monetary transmission channel and its role on Indonesian economy.  We used credit depth as a ratio of banks credit to GDP nominal, to explain the role of credit in Indonesian economy.  We developed a VAR model to measure the response of credit to BI rate, funds rate and inflation rate, and OLS method to find out how banks credit response to government spending on capital. This paper revealed bi-direction causality between credit and BI rate, credit and funds rate, and credit and inflation.  There is trade-off between credit and BI rate, credit and funds rate, and credit and inflation, but government spending on capital promotes credit depth.  We found that Indonesian banking is bank view, allocated their credit based on their performance, not merely on the monetary policy determined by central bank.  For bank view perspectives, we analyzed the link between LDR as an indicator of credit channel mechanism to NPLs and CAR.  We found that there is no significant effect of CAR to LDR, but has a strong negatively relationship between NPLs to LDR.  This evidence indicates that commercial banks in Indonesia allocated their credit do not related to their capital but merely to the quality of their credit portfolio.

  11. 17 CFR 401.5 - Exemption for corporate credit unions transacting limited government securities business with...

    Science.gov (United States)

    2010-04-01

    ... 17 Commodity and Securities Exchanges 3 2010-04-01 2010-04-01 false Exemption for corporate credit unions transacting limited government securities business with other credit unions. 401.5 Section 401.5... government securities business with other credit unions. (a)(1) Subject to the requirements of paragraph (b...

  12. Data mining for assessing the credit risk of local government units in Croatia

    Directory of Open Access Journals (Sweden)

    Silvija Vlah Jerić

    2017-01-01

    Full Text Available Over the past few decades, data mining techniques, especially artificial neural networks, have been used for modelling many real-world problems. This paper aims to test the performance of three methods: (1 an artificial neural network (ANN, (2 a hybrid artificial neural network and genetic algorithm approach (ANN-GA, and (2 the Tobit regression approach in determining the credit risk of local government units in Croatia. The evaluation of credit risk and prediction of debtor bankruptcy have long been regarded as an important topic in accounting and finance literature. In this research, credit risk is modelled under a regression approach unlike typical credit risk analysis, which is generally viewed as a classification problem. Namely, a standard evaluation of credit risk is not possible due to a lack of bankruptcy data. Thus, the credit risk of a local unit is approximated using the ratio of outstanding liabilities maturing in a given year to total expenditure of the local unit in the same period. The results indicate that the ANN-GA hybrid approach performs significantly better than the Tobit model by providing a significantly smaller average mean squared error. This work is beneficial to researchers and the government in evaluating a local government unit’s credit score.

  13. Credit Booms and Busts in Emerging Markets: The Role of Bank Governance and Risk Management

    OpenAIRE

    Brown, Martin; Andries, Alin Marius

    2014-01-01

    This paper investigates to what extent risk management and corporate governance mitigate the involvement of banks in credit boom and bust cycles. Using a unique, hand-collected dataset on 156 banks from Central and Eastern Europe during 2005-2012, we assess whether banks with stronger risk management and corporate governance display more moderate credit growth in the pre-crisis credit boom as well as a smaller credit contraction and fewer credit losses in the crisis period. With respect to ba...

  14. Credit-proofing fundamentals for a solid credit policy

    Energy Technology Data Exchange (ETDEWEB)

    Lydiatt, I. [KeySpan Energy Canada, Calgary, AB (Canada)

    2003-07-01

    This Power Point presentation presented the basics of a credit policy with reference to corporate objectives, governance, credit definitions, subjective/objective elements, quantification of full risk, management, monitoring, reporting and gate-keeping processes. Options for a credit policy were described as being approval authority grids, confidentiality issues, credit scoring, corporate risk levels, follow-up collection calling, and procedures on unapproved exposures. Recommendations for setting risk and credit limits were also presented with a note emphasizing that in the past 6 months credit evaluation processes have had to deal with the media risk, a new risk that has not been seen before. This risk can be addressed by careful monitoring of stock prices. The paper also presented recommendations for what to look for as indicators and how to deal with risk in volatile price periods. Credit tools for volatile times were described. 1 tab.

  15. Credit-proofing fundamentals for a solid credit policy

    International Nuclear Information System (INIS)

    Lydiatt, I.

    2003-01-01

    This Power Point presentation presented the basics of a credit policy with reference to corporate objectives, governance, credit definitions, subjective/objective elements, quantification of full risk, management, monitoring, reporting and gate-keeping processes. Options for a credit policy were described as being approval authority grids, confidentiality issues, credit scoring, corporate risk levels, follow-up collection calling, and procedures on unapproved exposures. Recommendations for setting risk and credit limits were also presented with a note emphasizing that in the past 6 months credit evaluation processes have had to deal with the media risk, a new risk that has not been seen before. This risk can be addressed by careful monitoring of stock prices. The paper also presented recommendations for what to look for as indicators and how to deal with risk in volatile price periods. Credit tools for volatile times were described. 1 tab

  16. Validation issues for depletion and criticality analysis in burnup credit

    International Nuclear Information System (INIS)

    Parks, C.V.; Broadhead, B.L.; Dehart, M.D.; Gauld, I.C.

    2001-01-01

    This paper reviews validation issues associated with implementation of burnup credit in transport, dry storage, and disposal. The issues discussed are ones that have been identified by one or more constituents of the United States technical community (national laboratories, licensees, and regulators) that have been exploring the use of burnup credit. There is not necessarily agreement on the importance of the various issues, which sometimes is what creates the issue. The broad issues relate to the paucity of available experimental data (radiochemical assays and critical experiments) covering the full range and characteristics of spent nuclear fuel in away-from-reactor systems. The paper will also introduce recent efforts initiated at Oak Ridge National Laboratory (ORNL) to provide technical information that can help better assess the value of different experiments. The focus of the paper is on experience with validation issues related to use of burnup credit for transport and dry storage applications. (author)

  17. Solar tax credits: the U.S. experience

    International Nuclear Information System (INIS)

    Sallmen Smith, L.J.

    1990-01-01

    From 1978 to 1985, the U.S. Federal government used income tax credits to induce taxpayers to purchase residential solar energy devices. These credits resulted in a significant number of households installing solar devices during the credit period but subsequently devastated the solar industry. Numerous structural problems with the credits and the failure to address important issues in the legislation led to this result. (Author)

  18. 31 CFR 598.409 - Credit extended and cards issued by U.S. financial institutions.

    Science.gov (United States)

    2010-07-01

    ... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false Credit extended and cards issued by U... NARCOTICS KINGPIN SANCTIONS REGULATIONS Interpretations § 598.409 Credit extended and cards issued by U.S... existing credit agreements, including, but not limited to, charge cards, debit cards, or other credit...

  19. 31 CFR 546.409 - Credit extended and cards issued by U.S. financial institutions.

    Science.gov (United States)

    2010-07-01

    ... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false Credit extended and cards issued by U... SANCTIONS REGULATIONS Interpretations § 546.409 Credit extended and cards issued by U.S. financial..., charge cards, debit cards, or other credit facilities issued by a U.S. financial institution to a person...

  20. 31 CFR 548.409 - Credit extended and cards issued by U.S. financial institutions.

    Science.gov (United States)

    2010-07-01

    ... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false Credit extended and cards issued by U... SANCTIONS REGULATIONS Interpretations § 548.409 Credit extended and cards issued by U.S. financial..., charge cards, debit cards, or other credit facilities issued by a U.S. financial institution to a person...

  1. 31 CFR 588.409 - Credit extended and cards issued by U.S. financial institutions.

    Science.gov (United States)

    2010-07-01

    ... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false Credit extended and cards issued by U... BALKANS STABILIZATION REGULATIONS Interpretations § 588.409 Credit extended and cards issued by U.S... not limited to, charge cards, debit cards, or other credit facilities issued by a U.S. financial...

  2. 31 CFR 594.410 - Credit extended and cards issued by U.S. financial institutions.

    Science.gov (United States)

    2010-07-01

    ... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false Credit extended and cards issued by U... TERRORISM SANCTIONS REGULATIONS Interpretations § 594.410 Credit extended and cards issued by U.S. financial... agreements, including, but not limited to, charge cards, debit cards, or other credit facilities issued by a...

  3. 31 CFR 542.409 - Credit extended and cards issued by U.S. financial institutions.

    Science.gov (United States)

    2010-07-01

    ... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false Credit extended and cards issued by U... SANCTIONS REGULATIONS Interpretations § 542.409 Credit extended and cards issued by U.S. financial..., charge cards, debit cards, or other credit facilities issued by a U.S. financial institution to a person...

  4. 31 CFR 541.408 - Credit extended and cards issued by U.S. financial institutions.

    Science.gov (United States)

    2010-07-01

    ... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false Credit extended and cards issued by U... ZIMBABWE SANCTIONS REGULATIONS Interpretations § 541.408 Credit extended and cards issued by U.S. financial..., charge cards, debit cards, or other credit facilities issued by a U.S. financial institution to a person...

  5. 31 CFR 543.409 - Credit extended and cards issued by U.S. financial institutions.

    Science.gov (United States)

    2010-07-01

    ... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false Credit extended and cards issued by U...'IVOIRE SANCTIONS REGULATIONS Interpretations § 543.409 Credit extended and cards issued by U.S. financial..., charge cards, debit cards, or other credit facilities issued by a U.S. financial institution to a person...

  6. 41 CFR 101-26.4901-149 - Standard Form 149, U.S. Government National Credit Card.

    Science.gov (United States)

    2010-07-01

    ... 41 Public Contracts and Property Management 2 2010-07-01 2010-07-01 true Standard Form 149, U.S. Government National Credit Card. 101-26.4901-149 Section 101-26.4901-149 Public Contracts and Property... 149, U.S. Government National Credit Card. Note: The form illustrated in § 101-26.4901-149 is filed as...

  7. 31 CFR 536.409 - Credit extended and cards issued by U.S. financial institutions.

    Science.gov (United States)

    2010-07-01

    ... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false Credit extended and cards issued by U... NARCOTICS TRAFFICKING SANCTIONS REGULATIONS Interpretations § 536.409 Credit extended and cards issued by U... any existing credit agreements, including, but not limited to, charge cards, debit cards, or other...

  8. 31 CFR 544.409 - Credit extended and cards issued by U.S. financial institutions.

    Science.gov (United States)

    2010-07-01

    ... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false Credit extended and cards issued by U... agreements, including, but not limited to, charge cards, debit cards, or other credit facilities issued by a... OF MASS DESTRUCTION PROLIFERATORS SANCTIONS REGULATIONS Interpretations § 544.409 Credit extended and...

  9. 31 CFR 593.409 - Credit extended and cards issued by U.S. financial institutions.

    Science.gov (United States)

    2010-07-01

    ... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false Credit extended and cards issued by U... LIBERIAN REGIME OF CHARLES TAYLOR SANCTIONS REGULATIONS Interpretations § 593.409 Credit extended and cards..., including, but not limited to, charge cards, debit cards, or other credit facilities issued by a U.S...

  10. 31 CFR 587.408 - Credit extended and cards issued by U.S. financial institutions.

    Science.gov (United States)

    2010-07-01

    ... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false Credit extended and cards issued by U... Credit extended and cards issued by U.S. financial institutions. Section 587.201 on dealing in property... institutions from performing under any existing credit agreements, including, but not limited to, charge cards...

  11. 31 CFR 547.409 - Credit extended and cards issued by U.S. financial institutions.

    Science.gov (United States)

    2010-07-01

    ... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false Credit extended and cards issued by U... DEMOCRATIC REPUBLIC OF THE CONGO SANCTIONS REGULATIONS Interpretations § 547.409 Credit extended and cards..., including, but not limited to, charge cards, debit cards, or other credit facilities issued by a U.S...

  12. 75 FR 11998 - Open meeting of the Taxpayer Advocacy Panel Earned Income Tax Credit Issue Committee

    Science.gov (United States)

    2010-03-12

    ... Earned Income Tax Credit Issue Committee AGENCY: Internal Revenue Service (IRS), Treasury. ACTION: Notice of Meeting. SUMMARY: An open meeting of the Taxpayer Advocacy Panel Earned Income Tax Credit Issue... Advocacy Panel Earned Income Tax Credit Issue Committee will be held Tuesday, April 20, 2010 from 8 a.m. to...

  13. E-Government: Initiatives, Developments, and Issues.

    Science.gov (United States)

    Aldrich, Duncan; Bertot, John Carlo; McClure, Charles R.

    2002-01-01

    Provides a background of government efforts to incorporate telecommunication and computer technologies to improve government performance and enhance citizen access to government information and services. Describes this symposium issue which discusses key issues that affect the success and implementation of electronic government initiatives. (LRW)

  14. 31 CFR 538.208 - Prohibited grant or extension of credits or loans to the Government of Sudan.

    Science.gov (United States)

    2010-07-01

    ... loans to the Government of Sudan. Except as otherwise authorized, the grant or extension of credits or... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false Prohibited grant or extension of credits or loans to the Government of Sudan. 538.208 Section 538.208 Money and Finance: Treasury...

  15. GHG trading awaits early action credit

    International Nuclear Information System (INIS)

    Anon.

    1999-01-01

    The challenges facing the Canadian government in implementing a green house gas (GHG) emissions trading program were discussed. The government of Canada is proposing to establish a program offering credit for early action on GHG reduction. However, the program is proving to be difficult to design because Canada's national implementation strategy for climate change has not yet been defined. The program is intended to reveal how emitters can invest in GHG reduction now, and use them against future regulations limiting emissions. The intention is to design the program on the principle that any company which decreases GHG emissions below its 'business-as-usual' level will receive a credit which can later be sold to another source which wants to offset its emissions. Nevertheless, the government is looking for real reductions in the sense that it is trying to bend the 'business-as-usual' forecast down towards the Kyoto targets, and is trying to ensure that the system is a rigorous one before any credits are issued

  16. Sectoral crediting mechanisms for greenhouse gas mitigation. Institutional and operational issues

    Energy Technology Data Exchange (ETDEWEB)

    Baron, R. [International Energy Agency IEA, Paris (France); Ellis, J. [Environment Directorate, International Energy Agency IEA, Organisation for Economic Co-operation and Development OECD, Paris (France)

    2006-05-15

    Guiding policy choices requires a systematic comparison of options. In the case of a hypothetical policy instrument, e.g. sectoral crediting, such systematic comparison is difficult as different options may not be strictly comparable. For instance, not all options may be easily applied to a given sector (e.g. an intensity-based crediting may hardly be implemented to a government policy seeking to substitute public transport for personal vehicles); the policy-based SCM may be the only practical option in this case and comparison is therefore moot. Also, not all countries may have the institutional capacity to implement all three options at the same scale. Last, the ability of each option to deliver real reductions hinges on the 'additionality' of the sector's efforts and on the stringency of the baseline. Unfortunately, there is no universally recognised method to define additionality and to determine a baseline. This paper nonetheless offers some insights on how each potential SCM option may fare with respect to the following criteria: Environmental effectiveness: can this option trigger real reductions where implemented?; Addressing competitiveness concerns; Administrative cost and feasibility: how demanding is the mechanism in terms of monitoring, review and, possibly enforcement policy?; Economic efficiency: to what extent does the mechanism lead to the adoption of the least-cost mitigation options in the sector? An initial assessment of each option along these criteria is provided in the conclusion section. This paper explores potential SCMs along several lines. Section 2 draws lessons from existing mechanisms; section 3 considers several dimensions to be considered for baselines; section 4 discusses how SCM could be implemented to provide effective incentives to mitigation; section 5 explores international governance issues. Concluding remarks are presented in section 6.

  17. Issues concerning Development of Consumer Credit Business in China’s Agricultural Bank

    Institute of Scientific and Technical Information of China (English)

    2012-01-01

    This article introduces the status quo of consumer credit business in China’s agricultural bank,indicating that the scale of China’s consumer credit business is expanded year by year;the growth of consumer credit business slows down;housing loans grow rapidly.We analyze issues concerning development of consumer credit business in agricultural bank as follows:single variety of consumer credit business makes the operating scope narrow;the formality of consumer credit business is trivial,abating consumers’ will to borrow;consumers’ consumer attitudes are stale,yet to be further changed;the loan interest of consumer credit is beyond the majority of consumers’ actual ability to pay;the existing regulations and systems are not sound;the risk prevention mechanism is not perfect.Based on this,we put forward the following countermeasures and proposals for further improving consumer credit business in China’s agricultural bank:first,formulate reasonable marketing strategy of consumer credit business;second,establish and improve the internal management mechanism;third,establish and improve risk assessment system;fourth,improve consumer credit legal system.

  18. Access to rural banking credit by agribusiness investors in Ahiazu ...

    African Journals Online (AJOL)

    This paper examines access to rural banking credit by agribusiness investors and issues for policies in Ahiazu Mbaise local government area of Imo state. The work is important because the existence of limited access of agribusiness investors to formal rural banking credit and extension services is provided by extension ...

  19. MODELING CREDIT RISK THROUGH CREDIT SCORING

    OpenAIRE

    Adrian Cantemir CALIN; Oana Cristina POPOVICI

    2014-01-01

    Credit risk governs all financial transactions and it is defined as the risk of suffering a loss due to certain shifts in the credit quality of a counterpart. Credit risk literature gravitates around two main modeling approaches: the structural approach and the reduced form approach. In addition to these perspectives, credit risk assessment has been conducted through a series of techniques such as credit scoring models, which form the traditional approach. This paper examines the evolution of...

  20. Policymakers' Reflections on Water Governance Issues

    Directory of Open Access Journals (Sweden)

    Joyeeta Gupta

    2013-03-01

    Full Text Available The two cultures theory argues that policy makers and scientists have different cultures and difficulty in communicating with each other. Others argue that there is increasing co-production of knowledge. This essay aims to assess the concerns of policy makers based on our policy work, policy-related research work, and our day-to-day experiences in terms of three questions: What are the perceived major issues for water governance? What are the major challenges in the structure of the existing global water governance approach? What is the vision for improving global water governance? This essay combines views from governmental, hybrid, inter- and non-governmental policy makers. It argues that water covers so many issues, aspects, and sectors that a key challenge is whether water should be governed as a sector or as a cross-cutting issue. It looks at how this challenge plays out within the United Nations system and leads to specific goal setting, while missing an overall visionary approach and a legally binding system of governance; within the hybrid arena, where it leads to inclusive discussion but not necessarily triggering consensus decisions; within nation states, where it has led to a loss of focus and a multitude of gaps and overlaps; and within transnational cooperative projects, where it has led to multiple interpretations of what is good practice. It then identifies a series of research questions.

  1. Some issues in ownership structure and corporate governance

    Directory of Open Access Journals (Sweden)

    K.A. Darshana Lakmal

    2014-10-01

    Full Text Available Corporate governance is a process that aims to allocate corporate resources in a manner that maximizes value for all stakeholders — shareholders, investors, employees, customers, suppliers, environment and the community at large and holds those at the helms to account by evaluating their decisions on transparency, inclusivity, equity and responsibility. Corporate governance has been commonly defined as the rules and procedures in place for governing an organization. It is the set of processes, customs, policies, laws, and institutions affecting the way a corporation (or company is directed, administered or controlled. Corporate governance also includes the relationships among the many stakeholders involved and the goals for which the corporation is governed. Corporate governance principles and codes have been developed in different countries and issued from stock exchanges, corporations, institutional investors, or associations (institutes of directors and managers with the support of governments and international organizations. As a rule, compliance with these governance recommendations is not mandated by law, although the codes linked to stock exchange listing requirements may have a coercive effect. However, given the rapid developments within the field and the increasing prominence of corporate governance in the modern world, this definition may be considered too narrow. Corporate governance, while a topic that has been examined in considerable depth in many areas, is widely applicable to a vast array of topics and issues. This study contributes to the literature by extending the mainly based on board literature to where there are important institutional differences and issues in ownership structure and corporate governance system and seeks to address new and emerging issues which have yet to be closely examined and have, to a degree, been overlooked

  2. Investigation of Burnup Credit Issues in BWR Fuel

    International Nuclear Information System (INIS)

    Broadhead, B.L.; DeHart, M.D.

    1999-01-01

    Calculations for long-term-disposal criticality safety of spent nuclear fuel requires the application of burnup credit because of the large mass of fissile material that will be present in the repository. Burnup credit calculations are based on depletion calculations that provide a conservative estimate of spent fuel contents, followed by criticality calculations to assess the value of keff for a spent fuel cask or a fuel configuration under a variety of probabilistically derived events. In order to ensure that the depletion calculation is conservative, it is necessary to both qualify and quantify assumptions that can be made in depletion models used to characterize spent fuel. Most effort in the United States this decade has focused on burnup issues related to pressurized-water reactors. However, requirements for the permanent disposal of fuel from boiling-water reactors has necessitated development of methods for prediction of spent fuel contents for such fuels. Concomitant with such analyses, validation is also necessary. This paper provides a summary of initial efforts at the Oak Ridge National Laboratory to better understand and validate spent fuel analyses for boiling-water-reactor fuel

  3. 48 CFR 2132.607 - Tax credit.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 6 2010-10-01 2010-10-01 true Tax credit. 2132.607... Contract Debts 2132.607 Tax credit. FAR 32.607 has no practical application to FEGLI Program contracts. The... Government, contractors may not offset debts to the Fund by a tax credit that is solely a Government...

  4. Internet governance origins, current issues, and future possibilities

    CERN Document Server

    Balleste, Roy

    2015-01-01

    Internet Governance: Origins, Current Issues, and Future Possibilities provides an introductory, multidisciplinary account of the forces at work in the evolving concept of internet governance and includes computer history, Internet beginnings, institutions and stakeholders, proposed models of governance, and human rights.

  5. Complex governance system issues for transportation renewal projects

    Directory of Open Access Journals (Sweden)

    Kelly Strong

    2014-01-01

    Full Text Available The use of public–private partnerships (PPPs is growing in the United States in response to reductions in funding combined with an aging highway transportation infrastructure. Many other countries have longer experience with PPP and a greater understanding of the issues surrounding their use. The main governance issues to be addressed in PPPs deal with risk-sharing, relationships, contracts, and legal framework, and standard processes within dedicated organizational units. These governance issues are examined in the context of a case study for the US 36 Phase II PPP in Colorado. Findings suggest that for the US Phase II project, governance issues are resolved through more relational forms than prescriptive contractual language. Colorado has established a dedicated organizational unit to facilitate the use of PPPs, but there exist no standards or best practices in the United States for procurement, concession terms, or risk-sharing.

  6. The Size and Role of Government: Economic Issues

    Science.gov (United States)

    2009-07-01

    results in a net loss in economic efficiency over time. 32 See, for example, N. Gregory Mankiw , Principles of Microeconomics (Fort Worth: Dryden Press...CRS Report for Congress Prepared for Members and Committees of Congress The Size and Role of Government: Economic Issues Marc Labonte...COVERED 00-00-2009 to 00-00-2009 4. TITLE AND SUBTITLE The Size and Role of Government: Economic Issues 5a. CONTRACT NUMBER 5b. GRANT NUMBER 5c

  7. Government information collections in the networked environment new issues and models

    CERN Document Server

    Cheverie, Joan F

    2013-01-01

    This insightful book explores the challenging issues related to effective access to government information.Amidst all the chaos of today's dynamic information transition period, the only constants related to government information are change and inconsistency, yet with Government Information Collections in the Networked Environment: New Issues and Models, you will defeat the challenging issues and take advantage of the opportunities that networked government information collections have to offer. This valuable book gives you a fresh opportunity to rethink collecting activities and to

  8. Leadership, Corruption and Governance in Nigeria: Issues and ...

    African Journals Online (AJOL)

    DR Nneka

    examines the issues of leadership, corruption and governance with a view to adumbrate ..... public realm” and the latter a “moral primordial public realm”. Therefore ... This notion and virus has affected the conduct of government business and.

  9. 75 FR 4626 - Order Granting a Temporary Exemption From Certain Government Securities Act Provisions and...

    Science.gov (United States)

    2010-01-28

    ... DEPARTMENT OF THE TREASURY Order Granting a Temporary Exemption From Certain Government Securities... Department of the Treasury (Treasury) is issuing a temporary exemption from certain Government Securities Act... accommodate customer clearing of credit default swaps that reference government securities. Treasury is also...

  10. Comment on Geoengineering with seagrasses: is credit due where credit is given?

    Science.gov (United States)

    Oreska, Matthew P. J.; McGlathery, Karen J.; Emmer, Igino M.; Needelman, Brian A.; Emmett-Mattox, Stephen; Crooks, Stephen; Megonigal, J. Patrick; Myers, Doug

    2018-03-01

    In their recent review, ‘Geoengineering with seagrasses: is credit due where credit is given?,’ Johannessen and Macdonald (2016) invoke the prospect of carbon offset-credit over-allocation by the Verified Carbon Standard as a pretense for their concerns about published seagrass carbon burial rate and global stock estimates. Johannessen and Macdonald (2016) suggest that projects seeking offset-credits under the Verified Carbon Standard methodology VM0033: Methodology for Tidal Wetland and Seagrass Restoration will overestimate long-term (100 yr) sediment organic carbon (SOC) storage because issues affecting carbon burial rates bias storage estimates. These issues warrant serious consideration by the seagrass research community; however, VM0033 does not refer to seagrass SOC ‘burial rates’ or ‘storage.’ Projects seeking credits under VM0033 must document greenhouse gas emission reductions over time, relative to a baseline scenario, in order to receive credits. Projects must also monitor changes in carbon pools, including SOC, to confirm that observed benefits are maintained over time. However, VM0033 allows projects to conservatively underestimate project benefits by citing default values for specific accounting parameters, including CO2 emissions reductions. We therefore acknowledge that carbon crediting methodologies such as VM0033 are sensitive to the quality of the seagrass literature, particularly when permitted default factors are based in part on seagrass burial rates. Literature-derived values should be evaluated based on the concerns raised by Johannessen and Macdonald (2016), but these issues should not lead to credit over-allocation in practice, provided VM0033 is rigorously followed. These issues may, however, affect the feasibility of particular seagrass offset projects.

  11. Implied Materiality and Material Disclosures of Credit Ratings

    OpenAIRE

    Eccles, Robert G; Youmans, Timothy John

    2015-01-01

    This first of three papers in our series on materiality in credit ratings will examine the materiality of credit ratings from an “implied materiality” and governance disclosure perspective. In the second paper, we will explore the materiality of environmental, social, and governance (ESG) factors in credit ratings’ methodologies and introduce the concept of “layered materiality.” In the third paper, we will evaluate current and potential credit rating agency (CRA) business models based on our...

  12. Credit Trading and Wind Power: Issues and Opportunities

    Energy Technology Data Exchange (ETDEWEB)

    Kevin Rackstraw, John Palmisano

    2001-01-15

    OAK-B135 This paper focuses on credits that are derived from wind energy technology, but the same concepts apply to other renewable energy technologies as well. Credit trading can be applied to a wide variety of policies, programs and private market activities and represents a means of tapping into revenue streams that heretofore have largely excluded wind and other renewables. In addition, credit trading can help to ''create'' new revenue streams for wind and other renewables by helping to grow new markets.

  13. 75 FR 64785 - Corporate Credit Unions

    Science.gov (United States)

    2010-10-20

    ... management (ALM) and credit risk, and whether to make modifications in the area of corporate governance. NCUA... the revisions, an analysis of how the final investment, credit risk, and asset liability provisions..., credit risk, ALM, liquidity, and capital measures that together should greatly reduce the systemic risk...

  14. 75 FR 64710 - Joint Public Roundtable on Issues Related to the Clearing of Credit Default Swaps

    Science.gov (United States)

    2010-10-20

    ... certain issues related to the clearing of Credit Default Swaps in the context of the Agencies rulemaking... comments must be in English or be accompanied by an English translation. All submissions provided to either...

  15. Practical Problems of Giving Opinions by Regional Chambers of Accounting on the Possibility of Repayment of Obligations in Local Government Units

    Directory of Open Access Journals (Sweden)

    Marcin Tyniewicki

    2014-06-01

    Full Text Available Opinions of the regional accounting chambers on the possibility of repayment of the credit, loan or redemption of the securities by local government units have some specific features compared with the other opinions concerning the financial management of the local government. Firstly, they are only issued at the request of the unit that they concerned. Secondly, for the reason they relate to public debt issues, to some extent their content may be similar or “partial reproduction” of the standpoint of the regional chamber of accounting within already issued opinions referring to acts on budgetary planning process in local government units. The purpose of this article is to assess the legitimacy of issuing such opinions and to identify the relationship between the ordinances (resolutions on the possibility of repayment of the credit, loan or redemption of the securities and provisions of local government budget.

  16. 48 CFR 1632.607 - Tax credit.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 6 2010-10-01 2010-10-01 true Tax credit. 1632.607... 1632.607 Tax credit. FAR 32.607 has no practical application to FEHBP contracts. The statutory... may not offset debts to the Fund by a tax credit which is solely a Government obligation. ...

  17. Issues in Governance, Planning and Coordination. Staff Report No. 8.

    Science.gov (United States)

    Montana Commission on Post-Secondary Education, Helena.

    This brief report consists of a series of observations on governance, planning, and coordination in Montana postsecondary education. It offers an impressionistic overview of three selected issues: the regents and the 1972 Constitution (background, governance, accountability, and legal protection); Governance of Vocational-Technical Centers (the…

  18. ISSUES AND CHALLENGES IN WATER GOVERNANCE IN MALAYSIA

    Directory of Open Access Journals (Sweden)

    N. W. Chan

    2009-07-01

    Full Text Available Water is one of the central issues in the 21st century in Malaysia. Of all the issues associated with water management, governance is considered of primary importance. This paper examines water governance in Malaysia and concludes that it is successful in the sense that water is served to more than 95 % of the population, water tariffs are some of the cheapest in the world, the poor is not denied access, and water supply is 24 hours per day. However, there are many areas that need improvement to achieve better governance in water management. One is to improve Government-controlled water departments by ensuring their workers are well-trained and committed to excellence, public service and integrity instead of the usual laid-back government-servant mentality. Another is to ensure politicians do not interfere in the water sector. Currently, it is widely believed that many water companies are linked to powerful politicians, making the awarding of contracts, tariffs and other management aspects non-transparent and ineffective. Ideally, politicians that govern should act on the professional advice of the water managers and not the other way around. Another area of water governance that needs to be intensified is the war against corruption. In the water sector, there should also be an all-out war on corruption at all levels of governance, in both the public and private sectors. Government should make all contracts in the water sector awarded through open tender with public consultation to ensure professionalism, fairness, transparency, accountability and good governance. Equally, all contracts and other relevant documents drawn up between the government and private companies should not be “classified” but instead be public documents available to the public for discussion, review and improvement. Another area to ensure better governance is for the government to engage and actively involved all stakeholders in the water sector, especially civil

  19. To Be or Not To Be: The Existential Issue for National Governance Bundles

    NARCIS (Netherlands)

    Millar-Schijf, Carla C.J.M.

    2014-01-01

    Research Question/Issue The article addresses the issue of whether governance bundles which include both formal and informal governance mechanisms should be classified and compared on the basis of national identity. Research Findings/Insights The governance bundle affecting each firm has formal

  20. An Inverse Problem Study: Credit Risk Ratings as a Determinant of Corporate Governance and Capital Structure in Emerging Markets: Evidence from Chinese Listed Companies

    Directory of Open Access Journals (Sweden)

    ManYing Kang

    2017-11-01

    Full Text Available Credit risk rating is shown to be a relevant determinant in order to estimate good corporate governance and to self-optimize capital structure. The conclusion is argued from a study on a selected (and justified sample of (182 companies listed on the Shanghai Stock Exchange (SHSE and the Shenzhen Stock Exchange (SZSE and which use the same Shanghai Brilliance Credit Rating & Investors Service Company (SBCR assessment criteria, for their credit ratings, from 2010 to 2015. Practically, 3 debt ratios are examined in terms of 11 characteristic variables. Moreover, any relationship between credit rating and corporate governance can be thought to be an interesting finding. The relationship we find between credit rating and leverage is not as evident as that found by other researchers for different countries; it is significantly positively related to the outside director, firm size, tangible assets and firm age, and CEO and chairman office plurality. However, leverage is found to be negatively correlated with board size, profitability, growth opportunity, and non-debt tax shield. Credit rating is positively associated with leverage, but in a less significant way. CEO-Board chairship duality is insignificantly related to leverage. The non-debt tax shield is significantly correlated with leverage. The correlation coefficient between CEO duality and auditor is positive but weakly significant, but seems not consistent with expectations. Finally, profitability cause could be regarded as an interesting finding. Indeed, there is an inverse correlation between profitability and total debt (Notice that the result supports the pecking order theory. In conclusion, it appears that credit rating has less effect on the so listed large Chinese companies than in other countries. Nevertheless, the perspective of assessing credit risk rating by relevant agencies is indubitably a recommended time dependent leverage determinant.

  1. The At Issue Maturity of Corporate Bonds: The Influence of Credit Rating, Security Level, Duration and Macreoconomic Conditions

    OpenAIRE

    Geetajali Bali; Frank Skinner

    2003-01-01

    We examine the determinants of the at issue time to maturity of corporate bonds. We find evidence that corporations partly determine the at issue maturity of bonds by responding to economic conditions. They also appear to immunize by matching the maturity of assets with the at issue maturity of bonds regardless of credit quality. Finally, we find evidence that the security level (our proxy for the recovery rate) is inversely related to the at issue time to maturity. This suggests that lenders...

  2. Boundary Crossing Issues Between Academia, Business and Government

    Directory of Open Access Journals (Sweden)

    Kay Fielden

    2005-12-01

    Full Text Available In this paper issues arising from crossing boundaries between the three worlds of academia, business and government in performing informatics research are explored. In particular the issues arising for informatics researchers in conducting case studies in business are explored following the qualitative research phases set out by Denzin and Lincoln (2000. Habermas (1996 provides a philosophical and structural framework on which to base this exploration. Informatics case study research is selected to deconstruct because it is the most common qualitative method chosen by informatics researchers. The framework developed in this paper is one attempt to address Hirschheim and Klein's (2003 claim that the field of information systems is a 'fragmented adhocracy' in which disconnects exist between researchers and practitioners in business, researchers and government, researchers and the rest of academia and also within the ever growing context in which informatics research takes place. Such a framework provides a navigation aid for dealing with the complex issues associated with dilemmas, disconnect and distortions that may arise in undertaking case study research.

  3. STATE CREDIT RATING MARK: PRESENT DOMESTIC REALITIES

    OpenAIRE

    Kovalko, N. M.

    2017-01-01

    The article discusses the problematic aspects of credit ratings and ranking. The economic and legal aspects of ranking relations are addressed. It is concluded that a low credit standing of Ukraine is a sign of our country’s low debt sustainability.It is proved that both for Ukraine and for economically developed countries, the issue of credit ratings is quite important, and at times problematic. The issue is related to the development of the national and international financial credit resour...

  4. Dual Credit Report

    Science.gov (United States)

    Light, Noreen

    2016-01-01

    In 2015, legislation to improve access to dual-credit programs and to reduce disparities in access and completion--particularly for low income and underrepresented students--was enacted. The new law focused on expanding access to College in the High School but acknowledged issues in other dual-credit programs and reinforced the notion that cost…

  5. 78 FR 25101 - Credit Ratings Roundtable

    Science.gov (United States)

    2013-04-29

    ... SECURITIES AND EXCHANGE COMMISSION [Release No. 34-69433; File No. 4-661] Credit Ratings... examine issues in connection with the possibility of developing a credit rating assignment system. The... FURTHER INFORMATION CONTACT: Scott Davey at (212) 336-0075, Office of Credit Ratings, Securities and...

  6. Beyond "banking for the poor": credit mechanisms and women's empowerment.

    Science.gov (United States)

    Albee, A

    1996-10-01

    This article describes some strengths and limitations of credit programs for women in developing countries. It is urged that development planners recognize the importance of the selection of the type of credit mechanism in the long term. Ethical issues should be decided upon before the credit mechanism is operable. Organizations should make clear what level of commitment there is to empower borrowers. Most organizations give loans to women and assume empowerment will take place without devising strategies to ensure empowerment. Credit mechanisms include credit for the poor and credit by the poor. A sound financial portfolio and 100% repayment are not the appropriate criteria for securing the empowerment of women. Empowerment of women is related to "building the capacity of borrowers to manage and control decision making." UNICEF's framework of gender equality and women's empowerment identifies levels of empowerment as "welfare, access, conscientisation, participation, and control." Development planners should be aware that provision of credit also has the potential to increase a poor family's debt. Delinquency may be hidden by overlapping loans that trap borrowers. Fewer installment payments increase the chances of a debt trap. Reducing the number of installments may reduce administrative costs and conform to production processes, but may also lead to a debt trap. There is now considerable emphasis on investing in low-income women entrepreneurs as a highly efficient means of achieving social and economic objectives. Credit programs aim to support the growth of small, self-sustaining businesses, to improve women's opportunities, and to provide alternatives to exploitation by local money-lenders. This article describes the following credit mechanisms: bank guarantee systems, government credit schemes, intermediary projects, direct lending projects, banks for the poor, credit unions, and village-based banks.

  7. Non-Hodgkin's lymphomas: clinical governance issues.

    Science.gov (United States)

    Fields, P A; Goldstone, A H

    2002-09-01

    Every patient in every part of the world has the right to expect the best possible quality of care from health care providers. Non-Hodgkin's lymphomas (NHL) are an extremely heterogeneous group of conditions which require important decisions to be taken at many points along the treatment pathway. To get this right every time requires that high-quality standards are instituted and adhered to, so that the best possible outcome is achieved. In the past this has not always been the case because of the failure of clinicians sometimes to adhere to an optimal management plan. In 1995, the UK government commissioned an inquiry into the running of cancer services in the United Kingdom, which culminated in a series of recommendations to improve them. Subsequently, these recommendations were implemented as objectives of the NHS Cancer Plan which is the framework by which the UK government wishes to improve cancer services. Concurrently another general concept has emerged which is designed to ensure that the highest quality standards may be achieved for all patients across the whole National Health Service (NHS). This concept, termed 'clinical governance', brings together a corporate responsibility of all health care workers to deliver high quality standards, in the hope that this will translate into better long-term survival of patients with malignant disease. This chapter focuses on the issues surrounding clinical governance and how the principles of this concept relate to non-Hodgkin's lymphomas.

  8. Burnup credit for storage and transportation casks

    International Nuclear Information System (INIS)

    Wells, A.H.

    1988-01-01

    The application of burnup credit to storage and transportation cask licensing results in a significant improvement in cask capacity and an associated reduction of the cost per kilogram of uranium in the cask contents. The issues for licensing with burnup credit deal primarily with the treatment of fission product poisons and methods of verification of burnup during cask operations. Other issues include benchmarking of cross-section sets and codes and the effect of spatial variation of burnup within an assembly. The licensing of burnup credit for casks will be complex, although the criticality calculations are not themselves difficult. Attention should be directed to the use of fission product poisons and the uncertainties that they introduce. Verification of burnup by measurements will remove some of the concerns for criticality safety. Calculations for burnup credit casks should consider rod-to-rod and axial variations of burnup, as well as variability of burnable poisons it they are used in the assembly. In spite of the complexity of cask burnup credit licensing issues, these issues appear to be resolvable within the current state of the art of criticality safety

  9. Public Service? Tax Credits?

    Science.gov (United States)

    Shanker, Albert

    1982-01-01

    Acknowledges the good work of private schools but resists the provision of further direct or indirect government aid to these schools. Argues that tax credits will adversely affect public education and American society. (Author/WD)

  10. Evolving legal framework of corporate governance in India – issues and challenges

    Directory of Open Access Journals (Sweden)

    Pankaj Kumar GUPTA

    2014-12-01

    Full Text Available Investors now started considering corporate governance as very essential factor before investment especially in view of the unstable environment in the securities market. It is considered that good corporate governance inspires, strengthens and maintains investor’s confidence by ensuring company’s commitment to higher growth and profits. Corporate Governance has become a major concern for global economies particularly the transition world. Sound corporate governance is extremely important for transition economies for creation of the key institutions, the private corporations, which drive the successful economic transformation to a market based economy, effective allocation of capital and development of financial markets, attracting foreign investment and making a contribution to the process of national development. The Corporate Governance issue has emerged primarily because of the growing importance of corporations in the national economies and their interaction with the international agencies and institutions. This paper presents the current scenario of corporate governance in India, the evolving legal framework and identified the major issues and challenges that need to be addressed to implement an effective system of corporate governance in India.

  11. Service quality in consumer's credit branch

    OpenAIRE

    Blechová, Věra

    2008-01-01

    The diploma thesis deals with consumer's credit grants of banking and non-banking corporations and comparison of their service quality. The first part of research is dedicated to consumer's knowledge of credit issues. Second describes main difficulties of consumer's credit grants of banking and non-banking corporations and proves their use of unfair manners. The final part of thesis propose improvements, which will boost consumer's protection on field of consumer's credits.

  12. Women's Participation and Gender Issues in Local Governance in ...

    African Journals Online (AJOL)

    DrNneka

    Key Words: Gender issues, local governance, women empowerment, women ... A higher percentage of the people in the Nigeria live at the grassroots .... Data collected as presented in Table 1 (see appendix) shows that in both zones.

  13. Tax credits and purchasing pools: will this marriage work?

    Science.gov (United States)

    Trude, S; Ginsburg, P B

    2001-04-01

    Bipartisan interest is growing in Congress for using federal tax credits to help low-income families buy health insurance. Regardless of the approach taken, tax credit policies must address risk selection issues to ensure coverage for the chronically ill. Proposals that link tax credits to purchasing pools would avoid risk selection by grouping risks similar to the way large employers do. Voluntary purchasing pools have had only limited success, however. This Issue Brief discusses linking tax credits to purchasing pools. It uses information from the Center for Studying Health System Change's (HSC) site visits to 12 communities as well as other research to assess the role of purchasing pools nationwide and the key issues and implications of linking tax credits and pools.

  14. Point Climat no. 11 'Japan's Bilateral Offset Crediting Mechanism: A Bilateral Solution to a Global Issue?'

    International Nuclear Information System (INIS)

    Le, Hanh; Delbosc, Anais

    2012-01-01

    Among the publications of CDC Climat Research, 'Climate Briefs' presents, in a few pages, hot topics in climate change policy. This issue addresses the following points: In order to achieve its long-term emission reduction target following the Fukushima incident, Japan would rely more heavily on international offsetting activities. Concurrent to vigorous proposals to reform the CDM, Japan is also promoting an offset crediting scheme through bilateral agreements with developing countries as a post-2012 market mechanism. Despite potential benefits, issues relating to the accounting rules, environmental integrity and implications to carbon markets warrant further consideration prior to international recognition

  15. Issues on Building Kazakhstan Geospatial Portal to Implement E-Government

    Science.gov (United States)

    Sagadiyev, K.; Kang, H. K.; Li, K. J.

    2016-06-01

    A main issue in developing e-government is about how to integrate and organize many complicated processes and different stakeholders. Interestingly geospatial information provides an efficient framework to integrate and organized them. In particular, it is very useful to integrate the process of land management in e-government with geospatial information framework, since most of land management tasks are related with geospatial properties. In this paper, we present a use-case on the e-government project in Kazakhstan for land management. We develop a geoportal to connect many tasks and different users via geospatial information framework. This geoportal is based on open source geospatial software including GeoServer, PostGIS, and OpenLayers. With this geoportal, we expect three achievements as follows. First we establish a transparent governmental process, which is one of main goal of e-government. Every stakeholder monitors what is happening in land management process. Second, we can significantly reduce the time and efforts in the government process. For example, a grant procedure for a building construction has taken more than one year with more than 50 steps. It is expected that this procedure would be reduced to 2 weeks by the geoportal framework. Third we provide a collaborative environment between different governmental structures via the geoportal, while many conflicts and mismatches have been a critical issue of governmental administration processes.

  16. ISSUES ON BUILDING KAZAKHSTAN GEOSPATIAL PORTAL TO IMPLEMENT E-GOVERNMENT

    Directory of Open Access Journals (Sweden)

    K. Sagadiyev

    2016-06-01

    Full Text Available A main issue in developing e-government is about how to integrate and organize many complicated processes and different stakeholders. Interestingly geospatial information provides an efficient framework to integrate and organized them. In particular, it is very useful to integrate the process of land management in e-government with geospatial information framework, since most of land management tasks are related with geospatial properties. In this paper, we present a use-case on the e-government project in Kazakhstan for land management. We develop a geoportal to connect many tasks and different users via geospatial information framework. This geoportal is based on open source geospatial software including GeoServer, PostGIS, and OpenLayers. With this geoportal, we expect three achievements as follows. First we establish a transparent governmental process, which is one of main goal of e-government. Every stakeholder monitors what is happening in land management process. Second, we can significantly reduce the time and efforts in the government process. For example, a grant procedure for a building construction has taken more than one year with more than 50 steps. It is expected that this procedure would be reduced to 2 weeks by the geoportal framework. Third we provide a collaborative environment between different governmental structures via the geoportal, while many conflicts and mismatches have been a critical issue of governmental administration processes.

  17. THE NEED OF BANK RESOLUTION TOOLS FOR THE SAVING THE CREDIT INSTITUTIONS

    Directory of Open Access Journals (Sweden)

    Irina-Elena CHIRTOC

    2017-12-01

    Full Text Available Prudential supervision of credit institutions by the national authority leads to better their financial stability, especially in times of financial crisis. Governance and bank resolution of credit institutions posing systemic importance are two distinct functions that are monitored by the central bank as the national supervisory authority of the banking system.. Identify risks and vulnerabilities of the banking system's financial components are an important task of the national supervisory authority. Banking Resolution as extreme activity may be a consequence of ineffective corporate governance of credit institutions. The emergence and development of failures in corporate governance of financial institutions and inadequate allocation of funds to support their activities may affect the financial stability of credit institutions and hence the banking system.

  18. THE RISK OF FRAUD WITHOUT IMPLEMENTATION OF THE PILLARS OF CORPORATE GOVERNANCE AT THE LEVEL OF CREDIT INSTITUTIONS IN ROMANIA

    Directory of Open Access Journals (Sweden)

    VLAD MARIANA

    2013-02-01

    Full Text Available In this article, the authors seek to emphasize the risk factors that may occur due to not implementing or faultyimplementation of corporate governance for credit institutions, and its role in fraud prevention and detection. To avoidinappropriate governance, top management should have special preoccupations for the development of strategies,developing internal control policies by which to determine and evaluate the risks of the organization. Corporategovernance starts with a broad range of beneficiaries (stakeholders who contribute with resources to an organization(investments, taxes, charitable contributions, etc. Those members are the direct and indirect beneficiaries of theorganizational unit to be regulated. Corporate governance involving several parties: the leadership board, the internalauditors or those of the external environment. In some cases, regulatory authorities or professional associations,contribute to this process.

  19. The money issue.

    Science.gov (United States)

    Carpenter, Dave; Haugh, Richard

    2003-06-01

    Volume is rising at a healthy pact. Technology is improving patient care. Many organizations have, out of necessity, strengthened business fundamentals, controlled costs and refined their focus. Yet not-for-profit hospitals are squeezed by a cash crunch that has balance sheets under pressure and credit downgrades outpacing upgrades--the result of shrinking investment income, rising pension obligations, low government reimbursement and other threats to operational stability. N&HN looks at the challenges, including recent fallout from the most pressing issues, how some systems have responded, and the pros and cons of borrowing now.

  20. EXPLANATION OF VARIATION IN DEMAND FOR FARM CREDIT IN MISSOURI

    OpenAIRE

    Ashlock, Tara; Rimal, Arbindra

    2004-01-01

    The study analyzed the demand for farm credit in Missouri. Results suggested that financial leverage, government payments, occupation of farm operators, average farm acreages, value of land and buildings and types of farm operation had significant influence on farm credit usage. The study highlighted the potential for credit rationing.

  1. Annotated Bibliography on School Finance: Policy and Political Issues; Federal Government; State Issues; Non-Public Schools; Accountability.

    Science.gov (United States)

    Gipson, Joella

    Limited to periodical literature, this annotated bibliography on school finance contains 81 references grouped in 5 categories: (1) policy and politica issues, (2) federal government, (3) state issues, (4) aid to nonpublic schools, and (5) accountability. Following the bibliographic citations, annotations range from 4 to 15 lines and conclude by…

  2. A Study on Food Security Problems and Business Credit Crisis in Chinese Food Enterprises

    OpenAIRE

    Yanni Li; Dan Cui; Wenxuan Zhao; Jiayin Li; Fuguang Zhao

    2015-01-01

    Food security has become a big issue in China for some big incidents occurred in recent years. happened. This study has a survey on these cases and analyzes the reasons from the aspect of enterprises and government. Some solutions are put forward to solve the problems about food security and business credit crisis in China currently. The purpose is to guide enterprises to set up a sound operation system and gain long-term profits.

  3. Women's participation and gender issues in local governance in ...

    African Journals Online (AJOL)

    Local governance, interpreted as the active involvement of the local population in ensuring improved quality of service and leadership at the local level, involves greater participation by civil society in decision-making processes. The paper examined women's participation and the prevailing gender issues in local ...

  4. The Dilemmas over Credit Policy Management in a Company

    Directory of Open Access Journals (Sweden)

    Maria Gorczyńska

    2013-11-01

    Full Text Available Purpose of the article: The paper identifies the core dilemmas over the establishment of the credit policy in a company. It considers the general scope and basic stages of credit policy management and analyses each stage of credit policy in terms of decisive aspects. The main areas of concerns are discussed within the settlement of credit policy and its implementation with regard to the model of optimal credit policy. Scientific aim: The paper aims at constructing a unified model of issues rising dilemmas while setting and implementing the credit policy management. It also aims at identifying core decisive problems in each of these fields and at providing a structured questions framework. Methodology/methods: The paper is based on conceptual analysis and deduction of the literature and general review of issues related to credit policy management. It containts autors’ own view on the problems included in each stage of credit policy management. Findings: Credit policy management is a subject for numerous dilemmas. The main areas of concerns are related to: the decision about the goal of credit policy managemet with regard to its restrictiveness, the settlement of credit policy with regard to elements of credit policy, and finally the implementation with regard to the risk of bad debts occurrence. Conclusions: (limits, implications etc The establishment of credit policy in a company requires to balance contrary interests and thus involves wide variety of issues to be considered. The presented model of decisive problems might be applied in each company regardless to their size.

  5. Standardization of Social Credit System Initiated in China

    Institute of Scientific and Technical Information of China (English)

    2004-01-01

    @@ Introduction The current government advances that the order of market economy should be standardized and the social credit system of market economy in modern times should be established and completed. The social credit system should be formed on the basis of property right, supported by moral and high consciousness of social credit. Therefore, the basic framework and operation mechanism of the standards system for social credit will be established in 5 years in China in order to make standards play an important role in a regular market and the aspect of credit management, to improve administration's compliance with the regulation, and to facilitate the market economic order.

  6. Rehabilitation of the Banking System as a Key Factor in the Resumption of Corporate Crediting in Ukraine

    Directory of Open Access Journals (Sweden)

    Hladkykh Dmytro M.

    2017-09-01

    Full Text Available The aim of the article is to study the factors of negative dynamics of corporate crediting in Ukraine and justify proposals for further actions of the state in the direction of activating corporate crediting. The actions of the state in the field of activation of corporate crediting in Ukraine should include the steps mentioned below. As part of the overall rehabilitation and recovery of the economy – actions aimed at de-shadowization of the economy; restoration of foreign exchange earnings from exports; stimulation of timely return of the currency of exporters to the country. Within the framework of resolution of the bank’s non-performing corporate credit portfolio – establishment of a state company for the management of either distressed assets or a single remedial bank that is to accumulate non-performing credits. Within the framework of rehabilitation and post-crisis recovery of the banking system — completion of the procedure for removing problem banks from the market; bringing the capital adequacy ratio of the banking system in line with the requirements of Basel III; creation of a mechanism for structural refinancing, introduction of new instruments to stimulate bank crediting of enterprises in the real economy, etc. Within the framework of minimizing the current high level of inflation, which hinders the activation of corporate crediting – gradual decrease in the discount rate; ensuring a positive level of NBU interest rates relative to the forecasted core inflation; further accumulation of international reserves, etc. Within the framework of minimizing the budget deficit and limiting the issue of government bonds and deposit certificates of the NBU as instruments that divert banks’ credit resources from corporate lending – reducing the state budget deficit; decrease in banks' demand for government securities by reducing their profitability.

  7. On the Demand for Consumer Credit: an Islamic Setting (Research Paper)

    OpenAIRE

    Bendjilali, Boualem

    1995-01-01

    The study discusses the economic implication of the main axioms that govern the consumer credit in an Islamic framework. It derives the demand function for consumer credit, using the Murabaha modes. A simple econometric model is built to estimate the demand for credit in an Islamic setting.

  8. Managing Government Property Assets: The Main Issues From The Malaysian Perspective

    Directory of Open Access Journals (Sweden)

    Shardy Abdullah

    2011-09-01

    Full Text Available The Malaysian federal government is largely responsible towards providing several facilities to the community. The development of various types of property assets which encompasses buildings and infrastructure such as office buildings, roads, bridges and others, has proved that the government is really committed in executing its responsibility. From time to time, the number of property assets that were developed by the government is increasing parallel with the government's desire to stabilize its service quality. Nevertheless, in managing those property assets, the government currently is facing a mixture of problems and pitfalls such as the increase of property management and maintenance costs, the occurrence of incompatible maintenance programs, underutilization of property, end-user dissatisfaction and others. Following this scenario, the study was done with the main objective is to determine the management factors that are hindering the implementation of property management activities. A total of 67 respondents from ministries and technical departments were selected. The data was collected through a survey using questionnaire forms. The collected data was then analyzed using quantitative approaches such as frequency analysis method, mean analysis, relative important index as well as others. Results from the analysis show that there are 5 main management issues in managing Malaysian government owned property assets. Those issues are lack of proper property unit/department within a ministry, lack of expertise, lack of proper strategies, lack of proper management procedure and lack of IT usage.

  9. The impact of ownership structure on bank credit risk: Evidence from Bangladesh

    Directory of Open Access Journals (Sweden)

    Niluthpaul SARKER

    2017-05-01

    Full Text Available This study investigates the impact of ownership structure of Commercial Banks on bank credit risk in an emerging market like Bangladesh. Prais Winten regression model is applied to a sample of 32 commercial banks from the year of 2000 to 2014 with 390 observations. The result reveals that National Commercial Banks, depositors’ influence, shareholders’ influence, liquidity and profitability are negatively associated with credit risk whereas lag risk has a significant positive impact on credit risk. The effect of banks ownership structure on credit risk divulges a delicate governance of the banking sector. The study conveys a momentous implication of research findings in the national economy. It also found that national commercial banks have the tendency of violating the rules and absorbing heavy risk. It suggests that policy maker should rethink about the government ownership of banks. Therefore the denationalization or reducing government ownership structure is highly recommended.

  10. Development and issues of nuclear industry in Taiwan

    International Nuclear Information System (INIS)

    Kuangchi Liu

    1994-01-01

    Industrial and economic developments in Taiwan have achieved a so-called 'miracle' in the last decades. Endeavors by the private enterprise, prudent planning by the government, and the devoted efforts by the diligent and creative labor forces have been credited jointly with the result. To develop a sustainable nuclear industry in support of an efficient and safe power generation and other applications of nuclear energy in Taiwan, continuing efforts from the private industry, government and each individual of the nuclear industry will be required. In this paper, milestones of the past and major issues for future developments will be discussed

  11. Transitive Credit and JSON-LD

    Directory of Open Access Journals (Sweden)

    Daniel S. Katz

    2015-11-01

    Full Text Available Science and engineering research increasingly relies on activities that facilitate research but are not currently rewarded or recognized, such as: data sharing; developing common data resources, software and methodologies; and annotating data and publications. To promote and advance these activities, we must develop mechanisms for assigning credit, facilitate the appropriate attribution of research outcomes, devise incentives for activities that facilitate research, and allocate funds to maximize return on investment. In this article, we focus on addressing the issue of assigning credit for both direct and indirect contributions, specifically by using JSON-LD to implement a prototype transitive credit system.

  12. The public control of credit unions

    Directory of Open Access Journals (Sweden)

    Alberto García Müller

    2006-12-01

    Full Text Available Public control is the activity of investigation or review by the government takes over a company, to verify the conformity of its actions to law. This paper analyzes the control over credit unions.

  13. RENEWAL OF CRIMINAL LAW AGAINST ABUSE OF CREDIT CARDS

    Directory of Open Access Journals (Sweden)

    Eka Nugraha

    2015-07-01

    Full Text Available The use of credit cards for payment in lieu of cash since the introduction of the first credit card ever more widely known and used by people.   On the early introduction of this credit card, the wearer is limited to certain circles. However, a few decades later the credit card industry primarily enter the end of the Decade of the 1970s, has penetrated almost throughout all parts of the world, including Indonesia.   A credit card is issued by most commonly used by the public and apply the current International consists of a range of brands, among others, a very popular one is Visa and Master Card are each issued by the credit card company international and Master Card International.In practice many found the works in banking that may be subject to sanctions as set forth in the book of the law of criminal law (Criminal Code.

  14. CARDHOLDERS' ATTITUDE AND BANK CREDIT CARD USAGE IN MALAYSIA: AN EXPLORATORY STUDY

    Directory of Open Access Journals (Sweden)

    Aizzat Mohd. Nasurdin

    2002-01-01

    Full Text Available The study is aimed at validating attributes that influence the differences in attitudes among active and inactive cardholders. By focusing on relevant attributes that have been identified, it is believed that credit card issuing banks can position themselves effectively via their marketing strategies to activate their existing cardholders' usage rate as well as to attract new active cardholders. Thirteen important attributes were used to measure credit cardholders' attitude. These attributes include acceptance level, credit limit, interest-free repayment period, annual fee, application approval period, ancillary functions, handling of cardholders' complaints, issuing bank image, gift/bonus to new applicants, card design, leaflet to describe the card,and advertising by the issuing bank. Acceptance level, credit limit, interest free repayment period, ancillary functions, handling of cardholders' complaints, bank image, and bank advertising were found to be the most important attributes that influenced cardholders' attitudes in distinguishing active from inactive cardholders. Based on the results of the study, several suggestions are forwarded to credit card issuing banks as a step to stimulate credit cardholders' usage level. Among these are to work closer with various retailers to promote the credit card payment mode, to provide adequate credit limit to cardholders, to extend interest free repayment period from 20 days to 30 days, to implement strategic alliances with firms involved in travelling, entertainment, insurance, and telecommunications and, to advertise more so as to create a brand name for the issuing bank.

  15. Developing and Maintaining Official Government Agencies Web site - Issues and Challenges

    International Nuclear Information System (INIS)

    Mohd Fauzi Haris; Mohd Hasnor Hasan; Nuruliza Samsudin

    2011-01-01

    In the era where Internet technology has grown rapidly, information is now at your fingertips. Web site is considered as an important medium and widely used whether for the purposes of promoting products and services or as an effective way to disseminate general information about the organization, companies or individuals. Nowadays, a general term such as Web 2.0 is almost out of date and is now entering the era of the Real World Web. For government agencies for instance, official web site is an important and effective tool for dissemination and communication of information to the public. In the view of Web master for a government agency, a number of issues and challenges may arise. They might face the same issues and challenges but they way to handle them are differ from one agency to another, depending on the culture, special rules and regulations applied and shared values among the staff. This paper will discuss these issues and challenges as well as applicable solutions based on our experiences. (author)

  16. CREDIT SYSTEM AND CREDIT GUARANTEE PROGRAMS

    OpenAIRE

    Turgay GECER

    2012-01-01

    Credit system is an integrated architecture consisted of financial information, credit rating, credit risk management, receivables and credit insurance systems, credit derivative markets and credit guarantee programs. The main purpose of the credit system is to provide the functioning of all credit channels and to make it easy to access of credit sources demanded by all of real and legal persons in any economic system. Credit guarantee program, the one of prominent elements of the credit syst...

  17. How effective are directed credit policies in the United States? A literature survey

    OpenAIRE

    Schwarz, Anita M.

    1992-01-01

    Schwarz surveys U.S. experience with directed credit as background for a larger study of the Asian experience. Almost half of net credit lent in the United States annually is directly affected by government policies - half of net credit covering budget deficits, and half falling under various federal credit programs. The main difference between U.S. and Asian credit policy is that U.S. credit policy is oriented more toward equity than toward growth. Different sectors are affected differently ...

  18. Sectoral crediting mechanism: How far China has to go

    International Nuclear Information System (INIS)

    Cai Wenjia; Wang Can; Chen Jining; Wang Siqiang

    2012-01-01

    Based on the review of the basic design of the sectoral crediting mechanism (SCM) – a promising option for developing countries’ emission reduction commitments – this paper analyzes five important practical issues for China to solve before participating in SCM, which include (1) difficulties in determining a crediting baseline (2) the unsolved over-supply problem in the carbon market (3) the very likely “carbon credits falling short of mitigation costs” problem (4) the immature market-oriented price system jeopardizing the success of motivation incentives and (5) inadequate capacity building. Corresponding suggestions or compromise solutions are given after a discussion of each issue. It is also recommended that in order to witness SCM come into being, researchers and negotiators should endeavor to solve the practical issues that SCM meets now, bearing in mind the balance of interests of both developing and developed countries. Finally we believe that SCM’s political barriers can be overcome when technical, economic institutional and capacity problems are solved. - Highlights: ► Latest developments in Sectoral Crediting Mechanism design have been reviewed. ► Ten years would be an ideal duration to adjust sectoral crediting baseline in China. ► Specific sectors could be selected to solve the carbon credits over-supply problem. ► SCM credits may come short of the mitigation costs, claiming a rising carbon price. ► Pricing system in China’s electricity sector makes it not a good candidate for SCM.

  19. Ethnicity, Governance and Prevention of Conflict: State of the Issue ...

    African Journals Online (AJOL)

    The paper presents the issues of ethnicity, governance, and prevention of conflicts in terms of their political management through the proper exercise of power. Conflict cannot be prevented. It can only be managed. The crucial determining factor is ethnic, gender and class relations in power. The paper traces notion of power ...

  20. Companies Credit Risk Assessment Methods for Investment Decision Making

    Directory of Open Access Journals (Sweden)

    Dovilė Peškauskaitė

    2017-06-01

    Full Text Available As the banks have tightened lending requirements, companies look for alternative sources of external funding. One of such is bonds issue. Unfortunately, corporate bonds issue as a source of funding is rare in Lithuania. This occurs because companies face with a lack of information, investors fear to take on credit risk. Credit risk is defined as a borrower’s failure to meet its obligation. Investors, in order to avoid credit risk, have to assess the state of the companies. The goal of the article is to determine the most informative methods of credit risk assessment. The article summarizes corporate lending sources, analyzes corporate default causes and credit risk assessment methods. The study based on the SWOT analysis shows that investors before making an investment decision should evaluate both the business risk,using qualitative method CAMPARI, and the financial risk, using financial ratio analysis.

  1. Mapping the Context: Insights and Issues from Local Government Development of Music Communities

    Science.gov (United States)

    Kenny, Ailbhe

    2011-01-01

    Recent years have revealed local government to be a fundamental stakeholder in the development of arts and music communities. This article provides a context for an exploration and study of the issues, themes and dilemmas that surround local government and music communities. In particular the article provides this examination from an Irish…

  2. Burnup credit activities being conducted in the United States

    International Nuclear Information System (INIS)

    Lake, W.

    1998-01-01

    The paper describes burnup credit activities being conducted in the U.S. where burnup credit is either being used or being planned to be used for storage, transport, and disposal of spent nuclear fuel. Currently approved uses of burnup credit are for wet storage of PWR fuel. For dry storage of spent PWR fuel, burnup credit is used to supplement a principle of moderator exclusion. These storage applications have been pursued by the private sector. The Department of Energy (DOE) which is an organization of the U.S. Federal government is seeking approval for burnup credit for transport and disposal applications. For transport of spent fuel, regulatory review of an actinide-only PWR burnup credit method is now being conducted. A request by DOE for regulatory review of actinide and fission product burnup credit for disposal of spent BWR and PWR fuel is scheduled to occur in 1998. (author)

  3. Creation of Carbon Credits by Water Saving

    Directory of Open Access Journals (Sweden)

    Yasutoshi Shimizu

    2012-07-01

    Full Text Available Until now, as a way of reducing greenhouse gas emissions from Japanese homes, the emphasis has been on reduction of energy consumption for air-conditioning and lighting. In recent years, there has been progress in CO2 emission reduction through research into the water-saving performance of bathroom fixtures such as toilets and showers. Simulations have shown that CO2 emissions associated with water consumption in Japanese homes can be reduced by 25% (1% of Japan’s total CO2 emissions by 2020 through the adoption of the use of water-saving fixtures. In response to this finding, a program to promote the replacement of current fixtures with water-saving toilet bowls and thermally insulated bathtubs has been added to the Government of Japan’s energy-saving policy. Furthermore, CO2 emission reduction through widespread use of water-saving fixtures has been adopted by the domestic credit system promoted by the Government of Japan as a way of achieving CO2 emission-reduction targets; application of this credit system has also begun. As part of a bilateral offset credit mechanism promoted by the Government of Japan, research to evaluate the CO2 reduction potential of the adoption of water-saving fixtures has been done in the city of Dalian, in China.

  4. Burnup credit activities in the United States

    International Nuclear Information System (INIS)

    Lake, W.H.; Thomas, D.A.; Doering, T.W.

    2001-01-01

    This report covers progress in burnup credit activities that have occurred in the United States of America (USA) since the International Atomic Energy Agency's (IAEA's) Advisory Group Meeting (AGM) on Burnup Credit was convened in October 1997. The Proceeding of the AGM were issued in April 1998 (IAEA-TECDOC-1013, April 1998). The three applications of the use of burnup credit that are discussed in this report are spent fuel storage, spent fuel transportation, and spent fuel disposal. (author)

  5. MBS Ratings and the Mortgage Credit Boom

    NARCIS (Netherlands)

    Ashcraft, A.; Goldsmith-Pinkham, P.; Vickery, J.

    2010-01-01

    We study credit ratings on subprime and Alt-A mortgage-backed securities (MBS) deals issued between 2001 and 2007, the period leading up to the subprime crisis. The fraction of highly-rated securities in each deal is decreasing in mortgage credit risk (measured either ex-ante or ex-post), suggesting

  6. Understanding Credit Risk: A Classroom Experiment

    Science.gov (United States)

    Servatka, Maros; Theocharides, George

    2011-01-01

    This classroom experiment introduces students to the notion of credit risk and expected return, by allowing them to trade on comparable corporate bond issues from two types of markets: investment-grade and high-yield markets. Investment-grade issues have a lower probability of default than high-yield issues and thus provide a lower yield.…

  7. 17 CFR 403.3 - Use of customers' free credit balances.

    Science.gov (United States)

    2010-04-01

    ... 17 Commodity and Securities Exchanges 3 2010-04-01 2010-04-01 false Use of customers' free credit... UNDER SECTION 15C OF THE SECURITIES EXCHANGE ACT OF 1934 PROTECTION OF CUSTOMER SECURITIES AND BALANCES § 403.3 Use of customers' free credit balances. Every registered government securities broker or dealer...

  8. Measuring Credit Capacity on Danish Farms Using DEA

    DEFF Research Database (Denmark)

    Friis Pedersen, Michael; Vesterlund Olsen, Jakob

    2013-01-01

    have important implications for risk management practice, investment and technology adoption and related policy issues. The method is limited by the possibility of strategic behavior of lenders during credit cycle busts. In credit cycle booms, the method gives a good basis for the estimates of change...... in credit reserves. Practical implications: In a period of increasing credit reserves, risk management institutions are unlikely to develop. Like agricultural policy, access to credit may crowd out market-based risk management. Originality/value: The study represents a novel application and interpretation......Purpose:The purpose of this paper is to introduce a novel measure of access to credit suited to estimate the relative change in credit reserves. Design/methodology/approach: A debt possibility frontier is estimated using data envelopment analysis and the Malmquist index is calculated. The Malmquist...

  9. New Elements in Corporate Governance of the Credit Institutions from the Perspective of National Bank of Romania Regulation no. 5/2013

    Directory of Open Access Journals (Sweden)

    Gabriela-Ioana MOISE

    2014-09-01

    Full Text Available The global economic crisis has stretched its harmful effects including banking activity, this being one of the severely affected economic domains where the greatest efforts of resuscitation were done, sometimes with serious consequences over public money. In this context, restoring the credit institutions’ activity on actual basis, through a more efficient organizational system and re-editing the attributions of the management organs, so that to be able to guarantee for an effective and fast risk management framework, represented a globally assumed goal. Romanian law cannot remain outside this framework especially considering the obligation to join the model imposed by the European legislator by taking over the domestic law of the European directive CRD IV. This paper proposes a comparative study between the current and the previous legislation in order to highlight the main elements of novelty brought by Basel III, CRD IV and GL Guide 44/2011 on the internal governance of credit institutions elaborated by the European Banking Authority.

  10. Securitization, Credit Rating and Issuers’ Characteristics

    Directory of Open Access Journals (Sweden)

    Mauricio Palmada Fernandes

    2014-01-01

    Full Text Available Given the growth of securitization through Credit Receivables Investment Funds (Fundos de Investimento em Direitos Creditórios - FIDCs in Brazil in recent years, this work aims to investigate empirically the relationship between securitization and credit rating in the Brazilian market. All issues of FIDCs held by banks and registered in the CVM from 2005 to July 2010 were analyzed. The two hypotheses discussed by Gorton and Souleles (2005 were confirmed to Brazilian financial institutions. There is evidence of an implied contract between the transferor companies and investors in securitizations made via FIDCs. Companies with higher credit risk, worst ratings, tend to securitize more. However no relationship was found between securitization and asset value, amount of loans or capital ratio.

  11. The Regulation of the Credit Card Market in Turkey

    OpenAIRE

    Ahmet Faruk Aysan; L. Yildiz

    2006-01-01

    The rapid growth in Turkish credit card market brought together new issues. Card holders and consumer unions complain about the high interest rates, economists complain about the default rates and banks complain about the amnesties. After all of these complaints coinciding with the accelerating suicide incidences due to credit card debts, regulation has been enacted in the credit card market in Turkey. In 2003, credit cards had been taken into the scope of the Consumer Protection Law. This wa...

  12. CREDIT DEFAULT SWAPS IN THE MECHANISM OF REDISTRIBUTION OF CREDIT RISK

    Directory of Open Access Journals (Sweden)

    O. Solodka

    2015-03-01

    Full Text Available In the article the economic nature and the functioning of CDS in terms of efficient redistribution of credit risk. The features of the dynamics of the nominal volume of the world market CDS, the gross market value and net market value of the CDS. Proved that more objective indicators of total credit risk shenerovanoho financial institutions are gross market value of the CDS and the net market value of CDS. We consider the variety and scope of CDS. Studied objectivity CDS valuation depending on the basis for valuation of CDS. In the mechanism of functioning CDS credit event as defined default “subject matter”, the features of conventional and technical default. Noted that a credit event for the use of CDS may also restructuring the company, bankruptcy or downgrade economic entity. In the article the types of CDS, including Basket Default Swap and First-of- Basket-to-Default Swap. We consider the application of CDS, namely hedge the credit risk of the underlying asset, which issued CDS; hedging credit risk of other assets by CDS; speculative trading in CDS. Depending on the particular basis for valuation of CDS, investigated objective valuation based on the value of CDS hedging; valuation CDS, based on the intensity of default; CDS valuation based on credit rating; valuation CDS, based on the value of the company. Proved that hedging through CDS will be effective only for the low correlation between the default of the underlying asset and counterparty default on swaps. It is proved that the accuracy and redutsyrovanyh structural models strongly depends on the “a long history of trading” underlying assets, asset must have a long history of trading, be the subject of in-depth analysis of a wide range of analysts and traders.

  13. Non-refundable tax credits are an inequitable policy instrument for promoting physical activity among Canadian children.

    Science.gov (United States)

    Spence, John C; Holt, Nicholas L; Sprysak, Christopher J; Spencer-Cavaliere, Nancy; Caulfield, Timothy

    2012-01-01

    A clear income gradient exists for the sport and physical activity (PA) participation of Canadian children. Governments in Canada recently introduced tax credits to alleviate the financial burden associated with registering a child in organized physical activity (including sport). The majority of these credits, including the Children's Fitness Tax Credit, are non-refundable (i.e., reduces the amount of income tax a person pays). Such credits are useful only for individuals who incur a certain level of tax liability. Thus, low-income families who may pay little or no income tax will not benefit from the presence of non-refundable tax credits. In this commentary, we argue that the non-refundable tax credit is inherently inequitable for promoting PA. We suggest that a combination of refundable tax credits and subsidized programming for low-income children would be more equitable than the current approach of the Canadian government and several provinces that are expending approximately $200 million to support these credits.

  14. 75 FR 80678 - Conversions of Insured Credit Unions

    Science.gov (United States)

    2010-12-23

    ... final rule with request for comments. SUMMARY: NCUA is issuing final amendments to revise the definition... Credit Union Share Insurance Fund (NCUSIF) share insurance to nonfederal share insurance in 12 CFR part...-credit union mergers and terminations of NCUSIF share insurance and conversions from NCUSIF share...

  15. Resource nationalism and credit growth in FSU countries

    International Nuclear Information System (INIS)

    Kalyuzhnova, Yelena; Nygaard, Christian

    2009-01-01

    This paper analyses the connection between resource nationalism and financial sector intervention in the FSU countries. We consider recent financial development in the FSU and the special features of energy rich emerging economies (Russia and Kazakhstan, in particular) which are influencing recent credit expansions. We find that the hydrocarbon sector has boosted boosting domestic credits through a number of direct and indirect routes. Recent decline in oil prices may change government attitudes to a continued resource nationalist strategy. Sovereign wealth funds that were established in a majority of energy rich emerging economies may, to the extent that they enable the selection of winners in specific economic sectors, create path dependency or exacerbate longer term allocative inefficiency arising from the governance structure associated with resource nationalism.

  16. Resource nationalism and credit growth in FSU countries

    Energy Technology Data Exchange (ETDEWEB)

    Kalyuzhnova, Yelena; Nygaard, Christian [The Centre for Euro-Asian Studies, The University of Reading, Whiteknights, PO Box 218, Reading RG6 6AA (United Kingdom)

    2009-11-15

    This paper analyses the connection between resource nationalism and financial sector intervention in the FSU countries. We consider recent financial development in the FSU and the special features of energy rich emerging economies (Russia and Kazakhstan, in particular) which are influencing recent credit expansions. We find that the hydrocarbon sector has boosted boosting domestic credits through a number of direct and indirect routes. Recent decline in oil prices may change government attitudes to a continued resource nationalist strategy. Sovereign wealth funds that were established in a majority of energy rich emerging economies may, to the extent that they enable the selection of winners in specific economic sectors, create path dependency or exacerbate longer term allocative inefficiency arising from the governance structure associated with resource nationalism. (author)

  17. Managerial entrenchment, external discipline and accounting manipulations in the credit union industry

    NARCIS (Netherlands)

    Hillier, D.; Hodgson, A.; Stevenson-Clarke, P.

    2005-01-01

    This study examines the extended stakeholder corporate governance model in credit unions and the extent to which inherent managerial entrenchment impacts upon their operational decisions. Using Australian credit union data and the introduction of Basle-type capital adequacy regulations as a case

  18. Facilitating SME Financing through Improved Credit Reporting

    OpenAIRE

    International Committee on Credit Reporting

    2014-01-01

    The general principles for credit reporting were issued by the World Bank in September 2011. Since then, the World Bank and the international committee on credit reporting (ICCR) have been leading efforts towards the implementation of the general principles worldwide. This report is one of the concrete outputs of the work following the general principles. It addresses one of the most signi...

  19. 32 CFR 643.116 - Credit unions.

    Science.gov (United States)

    2010-07-01

    ... buildings, without charge for rent or services, to any credit union organized under State law or to any... that, in either case, that 95 percent of the membership is composed of Federal employees, including former Federal employees who acquire membership while employed by the Federal Government and retained...

  20. Contingent feasibility for forest carbon credit: evidence from South Korean firms.

    Science.gov (United States)

    Roh, TaeWoo; Koo, Ja-Choon; Cho, Dong-Sung; Youn, Yeo-Chang

    2014-11-01

    Under the Kyoto Protocol, a global governmental response to climate change, protocol signatories make an effort to cut their greenhouse gas emissions. South Korea is not included in the list of Annex I countries; yet, South Korea is the seventh highest emitter of CO2. The South Korean government has enacted various institutional policies to encourage greenhouse gas reductions. While previous studies have focused on the guidance that reflects the stance of suppliers in the carbon market, this study focuses on South Korean firms' actual demand for forest carbon credits. By applying the contingent valuation method, we estimated domestic firms' willingness to pay for forest carbon credits. We then applied a rank-ordered logistic regression to confirm whether the rank of forest carbon credits, as compared to any other carbon credit, is influenced by a firm's characteristics. The results showed that Korean firms are willing to pay 5.45 USD/tCO2 and 7.77 USD/tCO2 for forest carbon credits in domestic and overseas forest carbon projects, respectively. Therefore, the introduction of forest carbon credits in the Korean carbon market seems reasonable. Analysis of the priority rankings of forest carbon credits, however, demonstrated that forestry projects were least likely to be ranked by firms as their first priority. Although relative preferences for forest carbon credits were influenced by individual firms' characteristics such as prior experience of environmental CSR related activities and whether the firm established an emissions reduction plan, the impact of perceived behavior control, whether the firm was included in the emissions target management scheme on forest carbon credits was negligible. Therefore, forest carbon credits are not a feasible solution without strong government support or institutional instruments. The results of this study are expected to provide policy makers with realistic approaches to formulate climatic change-related policies. Copyright © 2014

  1. Disaster risk financing and contingent credit : a dynamic analysis

    OpenAIRE

    Clarke, Daniel; Mahul, Olivier

    2011-01-01

    This paper aims to assist policy makers interested in establishing or strengthening financial strategies to increase the financial response capacity of developing country governments in the aftermath of natural disasters, while protecting their long-term fiscal balance. Contingent credit is shown to increase the ability of governments to self-insure by relaxing their short-term liquidity c...

  2. CORPORATE GOVERNANCE AND FIRM VALUE IN EMERGING MARKETS AN EMPIRICAL ANALYSIS OF ADR ISSUING EMERGING MARKET FIRMS

    Directory of Open Access Journals (Sweden)

    Aysun Ficici

    2012-01-01

    Full Text Available This study explores the value implications of good corporate governance for a sample of 54 ADR issuing emerging market firms (EMFs from 9 countries primarily located in the regions of Asia, Eastern Europe and Latin America and the and employs recently constructed company composite corporate governance metric along with some alternative corporate governance measures associated with the origin of the issuing firm. Although the ADR literature primarily focuses on the impact of subscription to US disclosure requirements we contend that company and country specific corporate governance standards play a significant role in the risk reduction and ensuing value capture.  The fundamental inquiry in this study has the following foci: The primary focus is on the impact of corporate governance structures on firm performance as to whether adherence to standards creates market value for ADR issuing EMFs.  Do good corporate governance practices affect the value of EMFs? The secondary focus is concerned with whether the impact of corruption level and legal system in a firm’s home country affect the corporate structures of EMFs thus affecting the market value of firms.  In this study, we utilize Tobin’s q as the measure of firm performance/market value.  Our findings suggest that there is a significant correlation between corporate governance structures of ADR issuing EMFs and their market values and/or performances.  The results also indicate that the level of corruption and legal structures in home countries of EMFs strongly impact the corporate governance structures of these firms and sequentially affect their market values. Therefore, this research further contributes to the scholarly findings and suppositions that corporate structures of firms do create consequences on firm value.

  3. Does ownership structure improve credit ratings?

    Directory of Open Access Journals (Sweden)

    Aws AlHares

    2018-04-01

    Full Text Available This study seeks to examine the impact of Block Ownership structure on Credit Ratings in OECD countries. This research seeks to contribute to the extant literature by exploring the effects of Corporate Governance (CG mechanisms on corporate credit ratings. The study uses a panel data of 200 companies from Anglo American and European countries between 2010 and 2014. The ordinary least square regression is used to examine the relationships. Additionally, to alleviate the concern of potential endogeneity, we use fixed effect regression, two-stage least squares using instrumental variables. The results show there is a negative and significant relationship between block ownership and credit ratings, with a greater significance among Anglo American countries than among European countries. The rationale for this is that Anglo-American system gives preferential treatment to individual shareholders and its accounting tradition leads to a decline in risk and increase in credit ratings. The result is consistent with the multi-theoretical framework predictions derived from the agency and stewardship theories. Future research could investigate credit ratings using other credit rating agencies, selecting a larger sample that includes small, mid-size and large companies. This paper extends, as well as contributes to extant CG literature by offering new evidence on the effect of block ownership on credit ratings between two different traditions. This will be explored by employing firm-level CG mechanisms by accounting for control variables. The findings will help regulators and policymakers in OECD countries in evaluating the adequacy of current CG reforms to prevent management misconduct and scandals.

  4. 76 FR 53362 - Approval of Farm Credit System Lending Institutions in FHA Mortgage Insurance Programs

    Science.gov (United States)

    2011-08-26

    ... marketing activities, and to farm-related businesses. The Farm Credit banks collectively issue debt... institutions. The four farm credit banks, one agricultural credit bank (hereinafter collectively referred to as the Farm Credit banks), and their direct lender associations (the Agricultural Credit Associations...

  5. Credit risk in emerging markets Peruvian listed company

    Directory of Open Access Journals (Sweden)

    Kurt Burneo Farfan

    2017-07-01

    Full Text Available The aim of this paper is to introduce the importance of the banking credit risk, the main elements that conform it and the main alternatives that are offered to access to a loan as well as a description of its measurement and management in the sector. There will be a general explanation of credit risk and the main parties involved in it. As the topic is developed it is going to be analyzed the lending process carried out by the banks as well as the quantitative and qualitative elements taken into account when taking a credit decision (The 5C’s of credit, credit scoring and models for quantification of losses for instance. Another thing to considerate is that Credit risk arises whenever a borrower is expecting to use future cash flows to pay a current debt. Also, the investors have the access for the information of a client and they are compensated for assuming credit risk by way of interest payments from the borrower or issuer of a debt obligation and the credit risk is a useful tool for the finance management. The Enterprise risk management in Peru changed in 2015 because the local regulator is in process to review the norm, including some aspects of corporate governance; these changes are not included in this research.

  6. Issue Framing and Sector Character as Critical Parameters for Government Contracting-Out in the UK

    DEFF Research Database (Denmark)

    Bækkeskov, Erik

    2011-01-01

    This article shows that variations in how two UK governments justified contracting-out (issue framing), combined with shifting sector-derived incentives for union activism (sector character), can help explain the extent of contracting-out. Janitorial service, an activity of the UK government......, and its reform faced unions that stood to lose a great deal from movement of janitorial jobs to private firms. In contrast, the New Labour government framed contracting-out broadly, as a means to efficient social justice, and faced unions with low stakes in government janitors. As a consequence, UK...

  7. ROLE, INTERESTS AND CRITICS OF CREDIT RATING AGENCIES

    Directory of Open Access Journals (Sweden)

    Suzana Baresa

    2012-06-01

    Full Text Available Key role of credit rating agencies is reducing the asymmetry information about credit quality (of governments, business entities or securities between issuers and investors, and ensuring a common standard of measuring the creditworthiness. Credit rating agencies are engaged in the sale of opinions about creditworthiness in the form of an alphabetical letter or symbol, which represents a unique ranking. Their opinion is not a guarantee, but it largely dictates the costs and the profits in the financial markets. This work shows the influence of credit rating agencies to investors and publishers, and their role as market regulators. Conflict of interest is a fundamental problem, which is caused by their way of doing business, it arises from their two main objectives: profit and market regulation, which will be explored in the work. Looking back in history credit rating agencies often selected goal of making a profit at the cost of market regulation, therefore they have caused the collapse of the market, and founded themselves criticized by the public.

  8. The Development and Structure of Consumer Credit in Japan

    Science.gov (United States)

    1989-06-01

    customers . The president of Fuji Bank admitted recently that fear of bad debts had kept banks from vigorously exploiting the consumer market. He called...a lower income, working class shopper to a younger, credit-using customer . In early 1988, Marui had issued 9.6 million credit cards. 16 Its annual...the young consumer . In 1986, 83 percent of sales were to customers in their twenties.’ 7 With nearly 70 percent of its sales made on credit, interest

  9. Factors influencing buyers' willingness to offer price premiums for carbon credits sourced from urban forests

    Science.gov (United States)

    N.C. Poudyal; J.M. Bowker; J.P. Siry

    2015-01-01

    Marketing carbon offset credits generated by urban forest projects could help cities and local governments achieve their financial self-sufficiency and environmental sustainability goals. Understanding the value of carbon credits sourced from urban forests, and the factors that determine buyers’ willingness to pay a premium for such credits could benefit cities in...

  10. Selected problems in auditing the financial statements of credit institutions

    OpenAIRE

    Joanna Wielgórska-Leszczyńska

    2016-01-01

    The article presents issues deserving special attention in the area of auditing the financial statements of credit institution. Without a doubt, these are the financial instruments, including credit exposures. To properly audit these instruments it is required to verify the accuracy of the valuation. Such verification in the case of credit exposures is preceded by appropriate category qualification followed by impairment write-off determined considering the established security. T...

  11. The Determinants of Credit Rating: Brazilian Evidence

    Directory of Open Access Journals (Sweden)

    Flávia Cruz de Souza Murcia

    2014-04-01

    Full Text Available This study attempts to identify the determinant factors of credit rating in Brazil. The relevance of this proposal is based on the importance of the subject as well as the uniqueness of the Brazilian market. As for originality, the great majority of previous studies regarding credit rating have been developed in the US, UK and Australia; therefore the effect on other markets is still unclear, especially in emerging markets, like Brazil. We’ve used a Generalized Estimating Equations (GEE model considering a panel structure with a categorical dependent variable (credit rating and ten independent variables: leverage, profitability, size, financial coverage, growth, liquidity, corporate governance, control, financial market performance and internationalization. The sample consisted of 153 rating observations during the period of 1997-2011 for a total of 49 public firms operating in the Brazilian Market. Results showed that leverage and internationalization are significant at the 1% level in explaining credit rating. Performance in the financial market was significant at a 5% level; profitability and growth were also statistically significant, but at a 10% significance level.

  12. Pricing Chinese Convertible Bonds with Dynamic Credit Risk

    Directory of Open Access Journals (Sweden)

    Ping Li

    2014-01-01

    Full Text Available To price convertible bonds more precisely, least squares Monte Carlo (LSM method is used in this paper for its advantage in handling the dependence of derivatives on the path, and dynamic credit risk is used to replace the fixed one to make the value of convertible bonds reflect the real credit risk. In the empirical study, we price convertible bonds based on static credit risk and dynamic credit risk, respectively. Empirical results indicate that the ICBC convertible bond has been overpriced, resulting from the underestimation of credit risk. In addition, when there is an issue of dividend, the conversion price will change in China's convertible bonds, while it does not change in the international convertible bonds. So we also empirically study the difference between the convertible bond's prices by assuming whether the conversion price changes or not.

  13. Selected problems in auditing the financial statements of credit institutions

    Directory of Open Access Journals (Sweden)

    JOANNA WIELGÓRSKA-LESZCZYŃSKA

    2016-06-01

    Full Text Available The article presents issues deserving special attention in the area of auditing the financial statements of credit institution. Without a doubt, these are the financial instruments, including credit exposures. To properly audit these instruments it is required to verify the accuracy of the valuation. Such verification in the case of credit exposures is preceded by appropriate category qualification followed by impairment write-off determined considering the established security. Thus, the audit process is complex and requires assessment by the auditor of exogenous and endogenous factors affecting the operation of credit institutions.

  14. Technical Data to Justify Full Burnup Credit in Criticality Safety Licensing Analysis

    Energy Technology Data Exchange (ETDEWEB)

    Enercon Services, Inc.

    2011-03-14

    Enercon Services, Inc. (ENERCON) was requested under Task Order No.2 to identify scientific and technical data needed to benchmark and justify Full Burnup Credit, which adds 16 fission products and 4 minor actinides1 to Actinide-Only burnup credit. The historical perspective for Full Burnup Credit is discussed, and interviews of organizations participating in burnup credit activities are summarized as a basis for identifying additional data needs and making recommendation. Input from burnup credit participants representing two segments of the commercial nuclear industry is provided. First, the Electric Power Research Institute (EPRI) has been very active in the development of Full Burnup Credit, representing the interests of nuclear utilities in achieving capacity gains for storage and transport casks. EPRI and its utility customers are interested in a swift resolution of the validation issues that are delaying the implementation of Full Burnup Credit [EPRI 2010b]. Second, used nuclear fuel storage and transportation Cask Vendors favor improving burnup credit beyond Actinide-Only burnup credit, although their discussion of specific burnup credit achievements and data needs was limited citing business sensitive and technical proprietary concerns. While Cask Vendor proprietary items are not specifically identified in this report, the needs of all nuclear industry participants are reflected in the conclusions and recommendations of this report. In addition, Oak Ridge National Laboratory (ORNL) and Sandia National Laboratory (SNL) were interviewed for their input into additional data needs to achieve Full Burnup Credit. ORNL was very open to discussions of Full Burnup Credit, with several telecoms and a visit by ENERCON to ORNL. For many years, ORNL has provided extensive support to the NRC regarding burnup credit in all of its forms. Discussions with ORNL focused on potential resolutions to the validation issues for the use of fission products. SNL was helpful in

  15. Technical Data to Justify Full Burnup Credit in Criticality Safety Licensing Analysis

    International Nuclear Information System (INIS)

    2011-01-01

    Enercon Services, Inc. (ENERCON) was requested under Task Order No.2 to identify scientific and technical data needed to benchmark and justify Full Burnup Credit, which adds 16 fission products and 4 minor actinides1 to Actinide-Only burnup credit. The historical perspective for Full Burnup Credit is discussed, and interviews of organizations participating in burnup credit activities are summarized as a basis for identifying additional data needs and making recommendation. Input from burnup credit participants representing two segments of the commercial nuclear industry is provided. First, the Electric Power Research Institute (EPRI) has been very active in the development of Full Burnup Credit, representing the interests of nuclear utilities in achieving capacity gains for storage and transport casks. EPRI and its utility customers are interested in a swift resolution of the validation issues that are delaying the implementation of Full Burnup Credit [EPRI 2010b]. Second, used nuclear fuel storage and transportation Cask Vendors favor improving burnup credit beyond Actinide-Only burnup credit, although their discussion of specific burnup credit achievements and data needs was limited citing business sensitive and technical proprietary concerns. While Cask Vendor proprietary items are not specifically identified in this report, the needs of all nuclear industry participants are reflected in the conclusions and recommendations of this report. In addition, Oak Ridge National Laboratory (ORNL) and Sandia National Laboratory (SNL) were interviewed for their input into additional data needs to achieve Full Burnup Credit. ORNL was very open to discussions of Full Burnup Credit, with several telecoms and a visit by ENERCON to ORNL. For many years, ORNL has provided extensive support to the NRC regarding burnup credit in all of its forms. Discussions with ORNL focused on potential resolutions to the validation issues for the use of fission products. SNL was helpful in

  16. Estimation of influence of banks' recourse potential upon their credit and investment portfolio

    OpenAIRE

    Petro Karas'; Nataliya Prykhod'ko

    2015-01-01

    In the article the negative trends of the Ukrainian banking system functioning caused by the crisis phenomena are considered. The analysis of credit and investment portfolio and resource potential of Ukrainian banks is carried out. Main problems of this process are identified. Influence of the banks' resource potential upon credit and investment portfolio is estimated by constructing multivariate correlation-regression models. The proposals for the government regulation of the bank's credit a...

  17. Growth in Means-Tested Programs and Tax Credits for Low-Income Households

    Science.gov (United States)

    Carrington, William; Dahl, Molly; Falk, Justin

    2013-01-01

    The federal government devotes roughly one-sixth of its spending to 10 major means-tested programs and tax credits, which provide cash payments or assistance in obtaining health care, food, housing, or education to people with relatively low income or few assets. Those programs and credits consist of the following: (1) Medicaid; (2) the low-income…

  18. Looking beyond credit ratings : Factors investors consider In pricing European asset-backed securities

    NARCIS (Netherlands)

    Fabozzi, F.; Vink, D.

    2012-01-01

    In this paper, we empirically investigate what credit factors investors rely upon when pricing the spread at issue for European asset-backed securities. More specifically, we investigate how credit factors affect new issuance spreads after taking into account credit rating. We do so by investigating

  19. Rural credit in Brazil: contrat's evolution at an institutional approach

    Directory of Open Access Journals (Sweden)

    Luciana Florêncio de Almeida

    2009-03-01

    Full Text Available This article outlines a New Institutional Economics’ approach of rural credit. The mainstream relies in the understanding that the rural credit contracts are hybrid forms in response to the agrichain´s complexity. The object of the research was operational credit contract for soybeans farms. The research consisted on qualitative researches in the extent that they sought to comprehend in a more profound level the rules of game for the rural financing contracting environment based on the economic agent’s perceptions. The results highlighted the agent’s perception that the judicial system is not strong enough to performance an efficient enforcement of the contracts. In response to this institutional challenge, the agents and the government manage adaptations in the contracts, which has been successful in the agent’s point of view. In the other hand, the informational system has showed weaknesses in protecting the creditor’s right. This scenario open breaches to opportunist actions and adverse selection. In order to mitigate these problems the agents govern interdependent transactions as a tool for risk sharing.

  20. Governance in Southeast Asia: Issues and Options

    OpenAIRE

    Gonzalez, Eduardo T.; Mendoza, Magdalena L.

    2003-01-01

    This paper attempts to analyze governance systems in Southeast Asia and proposes some policy suggestions that can improve governance practices in the region. It also discusses the links between governance and official development assistance and the role of the Japan Bank for International Cooperation. To put the discussion on governance systems in a proper context, the paper discusses the governance and growth nexus in Southeast Asia; describes the operating governance systems in Southeast As...

  1. Developing a Credit Recognition System for Chinese Higher Education Institutions

    Science.gov (United States)

    Li, Fuhui

    2015-01-01

    In recent years, a credit recognition system has been developing in Chinese higher education institutions. Much research has been done on this development, but it has been concentrated on system building, barriers/issues and international practices. The relationship between credit recognition system reforms and democratisation of higher education…

  2. Risk in the Clouds?: Security Issues Facing Government Use of Cloud Computing

    Science.gov (United States)

    Wyld, David C.

    Cloud computing is poised to become one of the most important and fundamental shifts in how computing is consumed and used. Forecasts show that government will play a lead role in adopting cloud computing - for data storage, applications, and processing power, as IT executives seek to maximize their returns on limited procurement budgets in these challenging economic times. After an overview of the cloud computing concept, this article explores the security issues facing public sector use of cloud computing and looks to the risk and benefits of shifting to cloud-based models. It concludes with an analysis of the challenges that lie ahead for government use of cloud resources.

  3. An Analysis of the Credit Card Program Using Process Innovation

    National Research Council Canada - National Science Library

    Braney, Ronald

    1999-01-01

    .... This goes a long way toward improving and streamlining the contracting process. One of the key reform initiatives in streamlining the process is the implementation of the Government-wide credit card program...

  4. Agricultural Credit Market and Farmers’ Response: A Case Study of Turkey

    Directory of Open Access Journals (Sweden)

    Erdogan Gunes

    2017-01-01

    Full Text Available Agriculture is an important sector in Turkey’s economy. Access to credit financing is critical for timely acquisition of different inputs, farm productivity, and ultimately farmers’ financial well-being. Historically, Ziraat Bank and Agricultural Credit Cooperatives, supported by Turkish government, have been the principle supplier of loanable funds in the agricultural sector. However, since 2000, many private banks have discovered the potential of this market and entered the competition. This study was designed to investigate the structure of the agricultural credit market in Turkey and identify factors that influence farmers’ preference among alternative lenders. It was found that although the 550 Turkish farmers surveyed had several options among lenders, low interest rates and attainable eligibility criteria emerged as the most important differentiators among banks. Results from the Analytic Hierarchy Process (AHP demonstrate the rising role of private banks’ credit. However, Ziraat Banks’ subsidized credits still dominant and its composite weight is 30.74% of total amount of agricultural credit market.

  5. Managing sovereign credit risk in bond portfolios

    OpenAIRE

    Bruder, Benjamin; Hereil, Pierre; Roncalli, Thierry

    2011-01-01

    With the recent development of the European debt crisis, traditional index bond management has been severely called into question. We focus here on the risk issues raised by the classical market-capitalization weighting scheme. We propose an approach to properly measure sovereign credit risk in a fixed-income portfolio. For that, we assume that CDS spreads follow a SABR process and we derive a sovereign credit risk measure based on CDS spreads and duration of portfolio bonds. We then consider...

  6. E-Commerce and Security Governance in Developing Countries

    Science.gov (United States)

    Sanayei, Ali.; Rajabion, Lila

    Security is very often mentioned as one of the preconditions for the faster growth of e-commerce. Without a secure and reliable internet, customer will continue to be reluctant to provide confidential information online, such as credit card number. Moreover, organizations of all types and sizes around the world rely heavily on technologies of electronic commerce (e-commerce) for conducting their day-to-day business transaction. Providing organizations with a secure e-commerce environment is a major issue and challenging one especially in Middle Eastern countries. Without secure e-commerce, it is almost impossible to take advantage of the opportunities offered by e-commerce technologies. E-commerce can create opportunities for small entrepreneurs in Middle Eastern countries. This requires removing infrastructure blockages in telecommunications and logistics alongside the governance of e-commerce with policies on consumer protection, security of transactions, privacy of records and intellectual property. In this paper, we will explore the legal implications of e-commerce security governance by establishing who is responsible for ensuring compliance with this discipline, demonstrating the value to be derived from information security governance, the methodology of applying information security governance, and liability for non-compliance with this discipline. Our main focus will be on analyzing the importance and implication of e-commerce security governance in developing countries.

  7. The credit crunch : Impacts on the housing market and policy responses in the Netherlands

    NARCIS (Netherlands)

    Priemus, H.

    2009-01-01

    This contribution deals with the impact of the credit crunch on the Dutch housing market and the policy responses of the Dutch government so far. Reinhart and Rogoff have presented an overview of credit crises after WW II: what are the general characteristics and impacts? Also in the Netherlands,

  8. Documentary Letters of Credit, Legal Nature and Sources of Law

    Directory of Open Access Journals (Sweden)

    Alavi Hamed

    2016-06-01

    Full Text Available There is no doubt about risky nature of international trade. Such risk can be conceptualized as country risk, transportation risk, customer risk and etc. Documentary Letters of Credit (LC are used as a method of payment in international business for many centuries in order to reduce risk of trade specially when parties are located in different countries and do not have precise information from financial standing of each other. In such occasion LC will reduce the risk of trade by shifting payment obligation from buyer as an individual to a payment guarantee of a bank as a legal entity in return for presentation of complying documents with terms of credit by seller. Familiarity with legal nature and different legal frameworks which govern the international operation of documentary letters of credit can facilitate the process of international trade for businessmen and boost national economies. However, lack of knowledge about them can impose huge losses on international traders. Situation will be more complicated when we understand that there are many internationally recognized legal frameworks which can affect the operation of LC and they get frequently updated in order to address technological and economic developments in global market. In this paper, author tries to answer questions regarding (i what are international legal frameworks governing operation of documentary letters of credit? (ii which areas of LC operation has been covered by them and (iii how do they address the legal questions regarding international operation of documentary letters of credit?

  9. 13 CFR 125.4 - Government property sales assistance.

    Science.gov (United States)

    2010-01-01

    ... 13 Business Credit and Assistance 1 2010-01-01 2010-01-01 false Government property sales... CONTRACTING PROGRAMS § 125.4 Government property sales assistance. (a) The purpose of SBA's Government property sales assistance program is to: (1) Insure that small businesses obtain their fair share of all...

  10. 41 CFR 301-70.701 - Who has the authority to grant exemptions to mandatory use of Government contractor-issued travel...

    Science.gov (United States)

    2010-07-01

    ... grant exemptions to mandatory use of Government contractor-issued travel charge card for official travel... REQUIREMENTS Policies and Procedures Relating to Mandatory Use of the Government Contractor-Issued Travel Charge Card for Official Travel § 301-70.701 Who has the authority to grant exemptions to mandatory use...

  11. Industry Issue Paper: Cross-Cultural Factors and Corporate Governance Transparency in Global Airline Strategic Alliances

    OpenAIRE

    Giapponi, Catherine C.; Scheraga, Carl A.

    2007-01-01

    This paper argues that a critical dimension in understanding the factors that inhibit the effectiveness and benefits of airline alliances is corporate transparency. Specifically, the issue of transparency in corporate governance is considered. Corporate governance is the set of institutional arrangements affecting corporate decision making, and deals with the relationship among various participants in determining the direction and performance of corporations. However, airline strategic allian...

  12. CONTRACTUAL FREEDOM AND FORMALISM IN THE CREDIT AGREEMENT

    Directory of Open Access Journals (Sweden)

    ANCA NICOLETA GHEORGHE

    2011-04-01

    Full Text Available The credit agreement meaning is trust. It involves a psychological relationship between two or more persons, characterized by predictability the third one involving present or future action on the status of a particular person.This relationship is psychological, in a certain context, social relationship and may take legal meanings. If at the beginning, people borrowed food and tools, later borrowed money to buy everything you wanted. Financial lending institution has become very popular, creating a group of people who have dealt with this service. Over time, this community has turned into banks. Being originally a loan of money covered by the Civil Code, the credit is used daily by both individuals and by professionals, becoming an engine of capitalist society. Unprecedented expansion of this contract led to a strict control of public authorities and subsequent legislative interventions, the articles of the Civil Code is supplemented by regulations governing the progressive banking, legal interest, namely consumer credit. Under the credit agreement, the economic situation of the parties is not equal, one party is disadvantaged in comparison to the other, protecting the disadvantaged part of the legislature making it a target in credit operations. In French doctrine, consumer credit has been praised as “a contract of all pleasures”; but at the same time “an agreement of all risks”.

  13. Credit risk management in the power sector

    International Nuclear Information System (INIS)

    Allen, D.

    2002-01-01

    Deregulation of the electric power industry has the potential to put power businesses at market risk particularly when the value of an asset or liability will change with market movements. Market risk gives rise to credit risk where a contract cannot be fulfilled. This presentation describes how credit risks can be identified and measured. Most practitioners use some variant of value-at-risk (VAR) technology for measuring market risk. Under this approach, risk is determined by the volatility implied by the market. Volatility of electricity prices and natural gas prices has increased significantly in Alberta in recent years. The consequence is an increase in both market and credit risk. The author described the difference between the two risks and their significance. An overview of credit risk management with derivatives, an over-the counter contract, was also presented. The author also discusses issue of protection buyers in the event of a failed contract. 9 figs

  14. Protecting Government Works: The Copyright Issue

    National Research Council Canada - National Science Library

    Manz, Paul C; Zelenka, Michael J; Wittig, Raymond S; Smith, Sally A

    2002-01-01

    ...; the alternatives that would permit the Government to own the copyright in government works ; the ability to allow private sector companies to assign coauthored works; and the importance to a federal technology manager of such protection.

  15. Enhanced governance committees in South Africa’s national government departments: A conceptual exploration

    Directory of Open Access Journals (Sweden)

    Tankiso Moloi

    2015-04-01

    Full Text Available This paper argues that almost all other non-governmental institutions for instance banks and pension funds, in addition to the risk and audit committees, have credit committees in respect of banks and investment committees in respect of pension funds. These committees provide oversight on the core businesses of these institutions. In a similar manner, national government departments should not only have universal governance committees such as the audit and risk committees, instead the study envisions governance committees modelled around the idea parliamentary portfolio committees. The envisaged committees will remain governance committees with defined roles and responsibilities similar to the audit and risk committees that are already in existence in the national government departments.

  16. Credit constraints in rural financial markets in Chile: determinants and consequences

    NARCIS (Netherlands)

    Reyes, A.

    2011-01-01

    Using data from two surveys carried out in 2006 and 2008 on 177 farmers in Chile, this study measures access to credit and empirically determine the effects of credit constraints on investment and production for market-oriented farmers in central Chile. More specifically, four issues are dealt

  17. THE CORPORATE GOVERNANCE IMPACT ON BANKING PERFORMANCE INCREASE

    Directory of Open Access Journals (Sweden)

    Mariana G. BUNEA

    2013-12-01

    Full Text Available The Gradual collapse of financial markets in the European Union since the fall of 2008 and economic crises at the credits portfolio level that followed, were generated by the several factors, often interdependent, both macroeconomic and microeconomic level, finally leading to the accumulation of excessive risk in the financial system. This excessive risk was partially caused by the deficiencies in Corporate Governance of the Financial Institutions and the especially banks deficiencies. Even if we can’t put down to the Corporate Governance crisis started, yet nonexistent or inadequacy of effective control mechanisms have determined to the excessive risk-taking by most credit institutions. This article aims to evaluate the application of Corporate Governance principles of the significant players within the Romanian banking system. The research methodology was based essentially on the technique of using the questionnaire, on Corporate Governance documents remarks published on the banks analyzed websites and on the using scoring methods in evaluating the application of Corporate Governance principles.

  18. Neurological eponyms--who gets the credit? Essay review.

    Science.gov (United States)

    Okun, Michael S

    2003-03-01

    The recent publication of Neurological Eponyms by Peter Koehler and colleagues has revived the interest in neurological eponyms and raised important questions about their use. Many investigators have contributed to the body of knowledge that defines the specialty of neurology. We honor them by associating their names with neurological diseases. The history of neurological eponyms provides us with an opportunity to reexamine the important question of who gets the credit. Additional issues have surfaced including why certain eponyms tend to stick in the literature and others disappear, as well as the important realization that lengthy modern descriptions may require name eponyms for simplification. Eponyms can be confusing as to whether they refer to a disease or a syndrome and this confusion can impact the diagnosis and treatment of patients. There is an inevitable evolution of certain eponyms as our understanding of entities expands. This paper provides an overview of neurological eponyms with the explanation of the potential reasons why names were associated with neurological diseases. These included first case reports, relating isolated cases, years of observation, defining neuroanatomy, physician sufferer, new physical examination maneuvers, academic climate, the advent of a new procedure, fame, and competition amongst investigators. Important issues have surfaced regarding sharing credit amongst investigators, name priority, crediting the wrong investigator, and lack of a defined system to award credit. Since eponym use is based on a peer dependent system, each neurologist must make a more critical appraisal of who gets the credit and understand the differences between diseases and syndromes in order to better preserve neurological history.

  19. Trade credit and the propagation of corporate failure: An empirical analysis

    OpenAIRE

    Jacobsen, Tor; von Schedvin, Erik

    2012-01-01

    We quantify the importance of trade credit chains for the propagation of corporate bankruptcies. Our results show that trade creditors (suppliers) that issue more trade credit are more exposed to trade debtor (customer) failures, both in terms of the likelihood of experiencing a debtor failure and the loss given failure. We further document that the credit loss invoked by a debtor failure imposes a substantially enhanced bankruptcy risk on the creditors. The propagation mechanism is mitigated...

  20. Nurse managers' experience with ethical issues in six government hospitals in Malaysia: a cross-sectional study.

    Science.gov (United States)

    Musa, Maizura binti; Harun-Or-Rashid, M D; Sakamoto, Junichi

    2011-11-16

    Nurse managers have the burden of experiencing frequent ethical issues related to both their managerial and nursing care duties, according to previous international studies. However, no such study was published in Malaysia. The purpose of this study was to explore nurse managers' experience with ethical issues in six government hospitals in Malaysia including learning about the way they dealt with the issues. A cross-sectional study was conducted in August-September, 2010 involving 417 (69.2%) of total 603 nurse managers in the six Malaysian government hospitals. Data were collected using three-part self-administered questionnaire. Part I was regarding participants' demographics. Part II was about the frequency and areas of management where ethical issues were experienced, and scoring of the importance of 11 pre-identified ethical issues. Part III asked how they dealt with ethical issues in general; ways to deal with the 11 pre-identified ethical issues, and perceived stress level. Data were analyzed using descriptive statistics, cross-tabulations and Pearson's Chi-square. A total of 397 (95.2%) participants experienced ethical issues and 47.2% experienced them on weekly to daily basis. Experiencing ethical issues were not associated with areas of practice. Top area of management where ethical issues were encountered was "staff management", but "patient care" related ethical issues were rated as most important. Majority would "discuss with other nurses" in dealing generally with the issues. For pre-identified ethical issues regarding "patient care", "discuss with doctors" was preferred. Only 18.1% referred issues to "ethics committees" and 53.0% to the code of ethics. Nurse managers, regardless of their areas of practice, frequently experienced ethical issues. For dealing with these, team-approach needs to be emphasized. Proper understanding of the code of ethics is needed to provide basis for reasoning.

  1. Credit risk evaluation based on social media.

    Science.gov (United States)

    Yang, Yang; Gu, Jing; Zhou, Zongfang

    2016-07-01

    Social media has been playing an increasingly important role in the sharing of individuals' opinions on many financial issues, including credit risk in investment decisions. This paper analyzes whether these opinions, which are transmitted through social media, can accurately predict enterprises' future credit risk. We consider financial statements oriented evaluation results based on logit and probit approaches as the benchmarks. We then conduct textual analysis to retrieve both posts and their corresponding commentaries published on two of the most popular social media platforms for financial investors in China. Professional advice from financial analysts is also investigated in this paper. We surprisingly find that the opinions extracted from both posts and commentaries surpass opinions of analysts in terms of credit risk prediction. Copyright © 2015 Elsevier Inc. All rights reserved.

  2. The joint estimation of term structures and credit spreads

    NARCIS (Netherlands)

    Houweling, P.; Hoek, J.; Kleibergen, F.R.

    1999-01-01

    We present a new framework for the joint estimation of the default-free government term structure and corporate credit spread curves. By using a data set of liquid, German mark denominated bonds, we show that this yields more realistic spreads than traditionally obtained spread curves that result

  3. Geo-engineering, Governance, and Social-Ecological Systems: Critical Issues and Joint Research Needs

    Directory of Open Access Journals (Sweden)

    Victor Galaz

    2012-03-01

    Full Text Available The debate about the possibilities to engineer the Earth's climate has changed drastically in the last years. Suggestions of large-scale technological interventions to combat climate change that a decade ago would have been discarded as science fiction are slowly moving into the center of international climate change discussions, research, and politics. In this article, I elaborate three joint key challenges to geo-engineering research from a resilience perspective, with a special emphasis on governance issues. First, I discuss the need to understand geo-engineering proposals from a "planetary boundaries" perspective. Second, I elaborate why the notion of Earth stewardship and geo-engineering are not necessarily in conflict, but instead could be viewed as complementary approaches. Last, I discuss the critical need to explore an institutional setting that is strong enough to weed out geo-engineering proposals that carry considerable ecological risk, but still allow for novelty, fail-safe experimentation, and continuous learning. These issues are critical for our understanding of how to effectively govern global environmental risks, complex systems, and emerging technologies in the Anthropocene.

  4. An application of data mining classification and bi-level programming for optimal credit allocation

    Directory of Open Access Journals (Sweden)

    Seyed Mahdi Sadatrasou

    2015-01-01

    Full Text Available This paper investigates credit allocation policy making and its effect on economic development using bi-level programming. There are two challenging problems in bi-level credit allocation; at the first level government/public related institutes must allocate the credit strategically concerning sustainable development to regions and industrial sectors. At the second level, there are agent banks, which should allocate the credit tactically to individual applicants based on their own profitability and risk using their credit scoring models. There is a conflict of interest between these two stakeholders but the cooperation is inevitable. In this paper, a new bi-level programming formulation of the leader-follower game in association with sustainable development theory in the first level and data mining classifier at the second level is used to mathematically model the problem. The model is applied to a national development fund (NDF as a government related organization and one of its agent banks. A new algorithm called Bi-level Genetic fuzzy apriori Algorithm (BGFAA is introduced to solve the bilateral model. Experimental results are presented and compared with a unilateral policy making scenario by the leader. Findings show that although the objective functions of the leader are worse in the bilateral scenario but agent banks collaboration is attracted and guaranteed.

  5. Consumer Finance: College Students and Credit Cards. Report to Congressional Requesters.

    Science.gov (United States)

    D'Agostino, Davi M.

    In response to a request from the House of Representatives, employees of the General Accounting Office conducted structured interviews with about 100 officials at 12 universities and colleges around the United States about several issues related to college students and credit cards. They also reviewed three studies of credit card use by college…

  6. 48 CFR 32.202-4 - Security for Government financing.

    Science.gov (United States)

    2010-10-01

    ... is upon, e.g., the work in process, the contractor's plant, or the contractor's inventory. Contracting officers may be flexible in the choice of assets. The contract must also give the Government a..., working capital loans, various lines of credit, and revolving credit arrangements. (c) Other assets as...

  7. The Role of the British Crown on Security Issues

    Directory of Open Access Journals (Sweden)

    Behar Selimi

    2016-07-01

    Full Text Available United Kingdom is a limited parliamentary monarchy, in which state sovereignty is exercised jointly by two basic political institutions: Royal Crown and Parliament. The credit for a successful political co-governance of these institutions, which are simultaneously bearers of popular sovereignty, are usually addressed to the Queen's lack of executive power to exercise power alone and hence all the restraint in the race for primate of governance. It goes even further considering that the Queen is quite weak and has only ceremonial functions, which do not disturb the Parliament. However, a careful researcher may notice that the Queen continues to affect the British Government in general and in particular on defence issues. Declassification of communication between Prince Charles and the Government in 2013, pointed out a continuing impact of the Queen and her son on many political issues, including those of defence and security. Since Britain has no codified constitution in a single document, it is not easy to determine the real power and competences of the Queen. It is even more difficult, because customary law and precedent prevail. Therefore, the real definition of the role of the Queen in general in the British Government, can be done by studying the culture, structure and constitutional practice. On their basis I will try to determine the real impact of the Queen in matters of defence and security, whether through her prerogatives in relation to the Government and Parliament, or through moral and informal influence in relation to the Prime Minister and particular ministers.

  8. DOCUMENTARY LETTER OF CREDIT IN THE REGULATION OF 600-PARIS PUBLICATION

    Directory of Open Access Journals (Sweden)

    VASILE NEMES

    2011-04-01

    Full Text Available In the year 2007 was adopted the Publication no. 600 of Paris regarding the Rules and the Uniform Practices for documentary letters of credit which replaced the Publication no. 500. Publication no. 600 (UCP 600 is applied to all the irrevocable documentary letters of credit when the parties make express reference to these Rules. The Publication no. 600 includes uniform rules, international practices and standards of irrevocable documentary letters of credit. The new Publication has brought a number of changes on the issues regarding the performance of the letters of credit, both in the relationship with the nonbanking institutions participants and in the relationship between the credit institutions participating in the performance of the letter of credit. This study, without being exhaustive, aims to capture the main aspects of novelty brought by the publication no. 600 and their legal approach to the new perspective of the international trade relations. It has in view, in particular, the irrevocable character of the letter of credit, the elaboration method and procedure of the letter of credit, the participants to the unfolding of the specific relationship of the letter of credit and the main duties of the involved credit institutions.

  9. CO2 credit or energy credit in emission trading?

    International Nuclear Information System (INIS)

    Hu, E.

    2002-01-01

    Emission trading is a good concept and approach to tackle global warming. However, what ''currency'' or ''credit'' should be used in the trading has remained a debatable topic. This paper proposed an ''Energy Credit'' concept as an alternative to the ''CO 2 credit'' that is currently in place. From the thermodynamic point of view, the global warming problem is an ''energy balance'' problem. The energy credit concept is thought to be more thermodynamically correct and tackles the core of the global warming problem more directly. The Energy credit concept proposed can be defined as: the credit to offset the extra energy trapped/absorbed in the earth (and its atmosphere) due to the extra anthropogenic emission (or other activities) by a country or company. A couple of examples are given in the paper to demonstrate the concept of the Energy credit and its advantages over the CO 2 credit concept. (author)

  10. Targeting micro-credits to poor household enterprises in Ecuador

    NARCIS (Netherlands)

    Hidalgo, D.; Oosterbeek, H.

    2008-01-01

    In 2007 the government of Ecuador launched a micro-credit program for enterprises run by poor households. The program was targeted to households at the bottom two quintiles in the wealth distribution. This paper uses data collected prior to the start of the program to examine whether the

  11. The response of public and private credit markets to typhoons in China

    Science.gov (United States)

    Bao, X.; Hsiang, S. M.

    2011-12-01

    When natural disasters strike, both public and private credit markets may finance the reconstruction of lost capital. We examine the response of public and private credit markets to cyclone events in China, using provincial fiscal data from 1978 to 2008, and find striking differences in the sectors targeted by public and private creditors. Following a cyclone event, public loans to the agricultural sector expand 2% for every additional 10 m/s in local wind exposure, while private loans to industrial and commercial sectors grow 7% for the same event. In addition, we find that these expansions to local credit markets persist at these levels for at least one year following exposure to a storm. We then demonstrate that these results are consistent with a model in which private creditors maximize profits and the government maximizes equity. In this stylized model, we show that when governments value short-term equity and finance risky sectors with plausibly negative net present value, this may have the perverse effect of encouraging populations and capital to remain in disaster-prone regions and lower equity in the long-run.

  12. The governance of natural resources: Issues affecting better management of revenues and distribution of benefits within Papua New Guinea

    Directory of Open Access Journals (Sweden)

    Hitelai Polume-Kiele

    2014-09-01

    The focus of the article’s discussion is on governance and management issues that affect the distribution of benefits, delivery of essential services to rural areas of PNG, stability within government, and the expectations of landowners.

  13. Credit Risk in the Banking Sector in Kosovo

    Directory of Open Access Journals (Sweden)

    Muhamet Aliu

    2017-05-01

    Full Text Available Loans make up the bulk of a bank’s assets, and thus credit risk is the most significant risk for commercial banks in Kosovo and throughout the world. Despite its complexity, effective management of credit risk is a prerequisite for the success of a bank and the banking system in general. A special role in this aspect is played by the separation of reserves to cover the risk of failure to repay the loan or in cases of nonfulfilment of contractual obligations by the loan recipient. Therefore, this research aims to address this issue and analyses the credit risk management of the banking system of the Republic of Kosovo in general and the effects of separation of reserves for loan losses in particular.

  14. ORIGIN CREDIT-DEFAULT SWAPS, AND IDIOSYNCRATIC THEIR FUNCTIONING

    Directory of Open Access Journals (Sweden)

    Марсель Альбертович Шарипов

    2013-04-01

    Full Text Available Credit-default swaps as well as all derivatives have appeared as a result of policy of a decontrol the American government of bank sector of economy.In article attempt to open motives of unfair use swaps is lead by some states, and modern anti-recessionary decisions concerning derivatives are considered. The objective of research consist it is revealing history and the reasons by occurrence the credit-default swaps, also the history of development the institutional infrastructures for stable and not causing suspicions functioning of the market of credit-default swaps by national regulators.  The research of the given problem in modern aspect of its progress has outstanding of novelty character. The reaction of regulators for the crisis are remarkable which events caused by shadow use of derivative financial tools including and credit-default swaps. In research the authors come to following conclusions. First, credit-default swaps are compatible to qualitative variations in corporate economy and answers to modern calls of more globalized financial system. The second, the functioning of the market of derivatives is really idiosyncratic that predetermines a final adage of that sort that arising problems with derivatives occurs not in their essence, but in purposefulness of their use.DOI: http://dx.doi.org/10.12731/2218-7405-2013-1-40

  15. What governs governance, and how does it evolve? The sociology of governance-in-action.

    Science.gov (United States)

    Fox, Nick J; Ward, Katie J

    2008-09-01

    Governance addresses a wide range of issues including social, economic and political continuity, security and integrity, individual and collective safety and the liberty and rights to self-actualization of citizens. Questions to be answered include how governance can be achieved and sustained within a social context imbued with cultural values and in which power is distributed unevenly and dynamically, and how governance impacts on individuals and institutions. Drawing on Gramscian notions of hegemony and consent, and recent political science literatures on regulation and meta-regulation, this paper develops a sociological model of governance that emphasizes a dynamic and responsive governance in action. Empirical data from a study of pharmaceutical governance is used to show how multiple institutions and actors are involved in sustaining effective governance. The model addresses issues of how governance is sustained in the face of change, why governance of practices varies from setting to setting, and how governance is achieved without legislation.

  16. RE-ENGINEERING GOVERNANCE; E-GOVERNMENT AS A TOOL FOR DECENTRALIZATION; GHANA AS A CASE STUDY

    DEFF Research Database (Denmark)

    Gyaase, Patrick Ohemeng Kwadwo

    This research was undertaken to study the diffusion of E-government as a tool for decentralization, using Ghana as a case study. E-governance has been credited with the potency of facilitating good governance in countries with appreciable level of E-government maturity. Much attention is being...... espoused by E-government. This research therefore assesses the diffusion of E-government as a tool for decentralization in Ghana. The research was carried out using mixed-methods and was approached from four theoretical perspectives namely Innovation Diffusion theory the TOE framework for technological....... Qualitative data was used to assess the factors affecting the diffusion of e-government as a tool for decentralization and the results pointed to vendor and donor led diffusion as affecting E-government implementation. There is also the absence of convergence between the E-government, the decentralization...

  17. Attitudes Towards and Satisfaction with Credit Unions in Alberta. A Regression and Scale Analysis.

    OpenAIRE

    Dakurah, Henry A.; Goddard, Ellen W.; Osuteye, Nicholas

    2005-01-01

    Credit unions have played an important historical role in the Canadian economy. However, recent changes in the financial, agricultural and agri-food industry are posing great challenges to Credit unions in Western Canada. Much attention has been given to the impact of competitive rates and the environment offered by banks on credit union performance to the neglect of issues relating to member satisfaction and commitment which may be adding to other problems in the credit union sector. Studies...

  18. Use of burnup credit for transportation and storage

    International Nuclear Information System (INIS)

    Sanders, T.L.; Ewing, R.I.; Lake, W.H.

    1991-01-01

    Burnup credit is the application of the effects of fuel burnup to nuclear criticality design. When burnup credit is considered in the design of storage facilities and transportation casks for spent fuel, the objectives are to reduce the requirements for storage space and to increase the payload of casks with acceptable nuclear criticality safety margins. The spent-fuel carrying capacities of previous-generation transport casks have been limited primarily by requirements to remove heat and/or to provide shielding. Shielding and heat transfer requirements for casks designed to transport older spent fuel with longer decay times are reduced significantly. Thus a considerable weight margin is available to the designer for increasing the payload capacity. One method to achieve an increase in capacity is to reduce fuel assembly spacing. The amount of reduction in assembly spacing is limited by criticality and fuel support structural concerns. The optimum fuel assembly spacing provides the maximum cask loading within a basket that has adequate criticality control and sufficient structural integrity for regulatory accident scenarios. The incorporation of burnup credit in cask designs could result in considerable benefits in the transport of spent fuel. The acceptance of burnup credit for the design of transport casks depends on the resolution of system safety issues and the uncertainties that affect the determination of criticality safety margins. The remainder of this report will examine these issues and the integrated approach under way to resolve them. 20 refs., 2 figs

  19. 77 FR 7558 - Withdrawal of Proposed Rule on Approval of Farm Credit System Lending Institutions in Federal...

    Science.gov (United States)

    2012-02-13

    ... recent difficulties in mortgage finance markets indicated reduced availability of housing credit in rural... System has been a source of consistent and reliable credit for rural homeowners and that the ability to... afoul of the Administration's proposal to reduce government involvement in the housing finance market...

  20. The impact of the credit legislation on consumers

    Directory of Open Access Journals (Sweden)

    Hlako Choma

    2016-12-01

    Full Text Available The purpose of this paper is to examine two South Africa legislations dealing with over indebtedness of a consumer. It is clear that in terms of the South African law, section 129 (1 and 130 (3 of the National Credit Act provide that a creditor provider who wishes to enforce a debt under a credit agreement must first issue a section 129 (1 (a notice to the consumer (the purpose of the notice is to notify the consumer of his/her arrears. On the other hand, the South African National Credit Act encourages the consumers to fulfil the financial obligations for which they are responsible. The second legislation to be examined which serve or appear to serve same purpose as the National Credit Act is the Insolvency Act. It therefore, postulated that the compulsory sequestration of a consumer in terms of the Insolvency Act would stand as an alternative remedy for a credit provider before she/he can have recourse mechanisms, such as debt review that are focused on satisfaction of the consumer’s financial obligation , in terms of the provisions of the National Credit Act. The paper determines to what extend these measures comply with the constitutional consumer protection demands. The legislature had been pertinently cognizant of the Insolvency Act when it lately enacted the National Credit Act. This is much apparent from the express amendment of section 84 of the Insolvency Act to the extent set out in schedule 2 of the National Credit Act

  1. CreditCoin: A Privacy-Preserving Blockchain-Based Incentive Announcement Network for Communications of Smart Vehicles

    KAUST Repository

    Li, Lun

    2018-01-23

    The vehicular announcement network is one of the most promising utilities in the communications of smart vehicles and in the smart transportation systems. In general, there are two major issues in building an effective vehicular announcement network. First, it is difficult to forward reliable announcements without revealing users\\' identities. Second, users usually lack the motivation to forward announcements. In this paper, we endeavor to resolve these two issues through proposing an effective announcement network called CreditCoin, a novel privacy-preserving incentive announcement network based on Blockchain via an efficient anonymous vehicular announcement aggregation protocol. On the one hand, CreditCoin allows nondeterministic different signers (i.e., users) to generate the signatures and to send announcements anonymously in the nonfully trusted environment. On the other hand, with Blockchain, CreditCoin motivates users with incentives to share traffic information. In addition, transactions and account information in CreditCoin are tamper-resistant. CreditCoin also achieves conditional privacy since Trace manager in CreditCoin traces malicious users\\' identities in anonymous announcements with related transactions. CreditCoin thus is able to motivate users to forward announcements anonymously and reliably. Extensive experimental results show that CreditCoin is efficient and practical in simulations of smart transportation.

  2. Changes in alcohol consumption patterns following the introduction of credit cards in Ontario liquor stores.

    Science.gov (United States)

    Macdonald, S A; Wells, S L; Giesbrecht, N; West, P M

    1999-05-01

    In 1994, regulatory changes were introduced in Ontario, Canada, permitting the purchase of alcoholic beverages with credit cards at government-operated liquor stores. Two objectives of this study were: (1) to compare the characteristics of credit card shoppers with non credit card shoppers at liquor stores, and (2) to assess whether changes occurred in alcohol consumption patterns among shoppers following the introduction of credit cards. Random digit dialing was used to interview 2,039 telephone participants prior to the introduction of credit cards (Time 1); 1,401 of these subjects were contacted 1 year later (Time 2). Independent sample t tests were used to compare credit card shoppers with shoppers not using credit cards, and paired t tests were performed to assess whether drinking behaviors changed from Time 1 to Time 2. The credit card shoppers were more likely than the non credit card shoppers to be highly educated (p Credit card shoppers drank an average of 6.3 drinks over the previous week compared with 4.0 drinks among non credit card shoppers (p credit card shoppers dropped from 6.7 drinks at Time 1 to 6.3 at Time 2 (NS), credit card shoppers reported drinking significantly more often after credit cards were introduced (p credit cards may not present public health problems since significant increases in alcohol consumption among credit card shoppers were not found.

  3. DID CREDIT CRUNCH CAUSE A COLLAPSE IN PRIVATE INVESTMENT?: TURKEY CASE

    Directory of Open Access Journals (Sweden)

    Birgül CAMBAZOĞLU

    2011-07-01

    Full Text Available The economists have focused on credit crunch since 1990’s. The economists are not in consensus as to what constitutes the credit crunch. The differences in definitions come from the causes of credit contraction. Credit crunch is generally accepted as an enormous decline period in credit supply. Although the credit crunch is seen as a supply phenomenon, some economists define it as a demand issue. Investment declines significantly as result of an increase in credit rationing. The purpose of this study is to investigate the dependence of private investment on money and credit supply in Turkey. In other words, we want to quantify the effect of credit contraction in the banking sector on private fixed investment. VAR model is used to identify the existence of credit crunch through four economic variables: Private fixed investment, money stock (M2, bank loans to private sector and interest rate of commercial loans for the period ranging from 2003:01 to 2010:08. According to results of this study, it can be said that the credit crunch that we dealt with as a supply phenomenon leads to an investment collapse (slump in Turkey. The paper proceeds as follows: Section I provides theoretical background of credit channels and credit crunch. Section II summarizes recent empirical studies. Section III describes variables and discusses the empirical findings of the model. Section IV provides concluding remarks.

  4. The dominion of means over ends. Modern bank credit and Max Weber’s irrational rationalization

    Directory of Open Access Journals (Sweden)

    Domenico Cortese

    2017-05-01

    Full Text Available The institutions which grant credit today can be considered to be an example of what Max Weber describes as the typical rationalization of modern age. Such a rationalization would bring a lack of reflection on what should be the ultimate significance of certain technical means, which are confused with a value-in-itself of a social context. The paper highlight the fact that the function of credit consistent with individuals’ ‘ultimate ends’ seems to be that of a temporal coordination between the ‘bargaining wills’ of different individuals who aim at obtaining the highest benefit by means of the utility of their products and the products of their peers. But the current epoch has favored the elevation of historically determined features of credit-issuing to ultimate ends. Referring, among other sources, to a report by the Bank of England and to studies by Neo-Keynesian authors such as Stiglitz, this essay establishes that the consequence of the current private structure of credit-issuing is that the ultimate end of credit does not coincide with maximization and economic reciprocity but with the assessment of a risk which is distinctly private. Also, since in this structure Central Bank acts as the bank of all commercial banks, credit granting can be read as being in function of the availability – within a circumscribed economic web – of a specific credit ‘raw material’ which has a price: central bank’s liquidity. This situation puts a deep philosophical problem into the limelight, since any ‘existential’ preferability of the current model of credit issuing can only be explained as an alienation.

  5. MAJOR TRENDS OF THE INTERNAL AUDIT FUNCTION IN CREDIT INSTITUTIONS

    Directory of Open Access Journals (Sweden)

    Clara Iulia ZINCA (VOICULESCU

    2016-12-01

    Full Text Available Given that the economic landscape becomes more and more complex and dynamic, the internal audit plays an increasing role, being considered a pillar of the corporate governance structure of credit institutions. Failures of risk management have demonstrated the important role of internal audit and the need for it to evolve and to meet the multiple expectations of the stakeholders. Beyond the core assurance provided by internal audit relating to risk and controls, these expectations include providing a deeper insight and value, particularly in the areas of strategy achievement, emerging risks and use of advanced data analysis. This paper aims to identify the major challenges encountered by the internal audit function in credit institutions in the current period and the ways in which internal audit can respond to these challenges, to deliver according to the growing expectations on corporate governance and to actively support the organizations in achieving a steady and sound development.

  6. MAJOR TRENDS OF THE INTERNAL AUDIT FUNCTION IN CREDIT INSTITUTIONS

    Directory of Open Access Journals (Sweden)

    Clara Iulia ZINCA (VOICULESCU

    2017-02-01

    Full Text Available Given that the economic landscape becomes more and more complex and dynamic, the internal audit plays an increasing role, being considered a pillar of the corporate governance structure of credit institutions. Failures of risk management have demonstrated the important role of internal audit and the need for it to evolve and to meet the multiple expectations of the stakeholders. Beyond the core assurance provided by internal audit relating to risk and controls, these expectations include providing a deeper insight and value, particularly in the areas of strategy achievement, emerging risks and use of advanced data analysis. This paper aims to identify the major challenges encountered by the internal audit function in credit institutions in the current period and the ways in which internal audit can respond to these challenges, to deliver according to the growing expectations on corporate governance and to actively support the organizations in achieving a steady and sound development.

  7. Evaluation of Individual and Aggregate Credit Institutions Management’s Performance

    Directory of Open Access Journals (Sweden)

    Nicolae Dardac

    2008-05-01

    Full Text Available Data Envelopment Analysis method allows both the measurement of the relative efficiency of an homogenous group of credit institutions, and the identification of those banking activity’s components generating a state of inefficiency. The present study focuses on this last issue, by proposing an interpretation of inefficiency signals and by strengthening the major role played by the credit institution’s executive board in designing a viable, coherent business strategy and in defining its risk profile.DEA method places all the efficient credit institutions on the efficiency frontier, without allowing their differentiation. In order to exceed this limit, we have analysed and compared two ranking techniques. The results obtained suggest that the hierarchy generated by the two techniques hasn’t changed significantly for almost 60% of our sample of credit institutions.

  8. A Pruning Neural Network Model in Credit Classification Analysis

    Directory of Open Access Journals (Sweden)

    Yajiao Tang

    2018-01-01

    Full Text Available Nowadays, credit classification models are widely applied because they can help financial decision-makers to handle credit classification issues. Among them, artificial neural networks (ANNs have been widely accepted as the convincing methods in the credit industry. In this paper, we propose a pruning neural network (PNN and apply it to solve credit classification problem by adopting the well-known Australian and Japanese credit datasets. The model is inspired by synaptic nonlinearity of a dendritic tree in a biological neural model. And it is trained by an error back-propagation algorithm. The model is capable of realizing a neuronal pruning function by removing the superfluous synapses and useless dendrites and forms a tidy dendritic morphology at the end of learning. Furthermore, we utilize logic circuits (LCs to simulate the dendritic structures successfully which makes PNN be implemented on the hardware effectively. The statistical results of our experiments have verified that PNN obtains superior performance in comparison with other classical algorithms in terms of accuracy and computational efficiency.

  9. Credit scoring for individuals

    Directory of Open Access Journals (Sweden)

    Maria DIMITRIU

    2010-12-01

    Full Text Available Lending money to different borrowers is profitable, but risky. The profits come from the interest rate and the fees earned on the loans. Banks do not want to make loans to borrowers who cannot repay them. Even if the banks do not intend to make bad loans, over time, some of them can become bad. For instance, as a result of the recent financial crisis, the capability of many borrowers to repay their loans were affected, many of them being on default. That’s why is important for the bank to monitor the loans. The purpose of this paper is to focus on credit scoring main issues. As a consequence of this, we presented in this paper the scoring model of an important Romanian Bank. Based on this credit scoring model and taking into account the last lending requirements of the National Bank of Romania, we developed an assessment tool, in Excel, for retail loans which is presented in the case study.

  10. Review of Research on Credit Risk Management for Rural Credit Cooperatives

    Directory of Open Access Journals (Sweden)

    Xin Song

    2017-03-01

    Full Text Available With the rapid development of rural micro-credit, whether the qagriculture, rural areas and farmersq problems have been effectively solved, whether the credit risk has been effectively controlled, these have become the focus of our attention to the rural economic environment. The main content of this paper contains four aspects: the classification and characteristics of credit risk, the problems and factors of credit risk, the model and evaluation of credit risk, the countermeasures and suggestions of credit risk. This paper reviews the research of credit risk management for rural credit cooperatives from the above four aspects, and makes a brief summary.

  11. Proceedings of a workshop on the use of burnup credit in spent fuel transport casks

    International Nuclear Information System (INIS)

    Sanders, T.L.

    1989-10-01

    The Department of Energy sponsored a workshop on the use of burnup credit in the criticality design of spent fuel shipping casks on February 21 and 22, 1988. Twenty-five different presentations on many related topics were conducted, including the effects of burnup credit on the design and operation of spent fuel storage pools, casks and modules, and shipping casks; analysis and physics issues related to burnup credit; regulatory issues and criticality safety; economic incentives and risks associated with burnup credit; and methods for verifying spent fuel characteristics. An abbreviated version of the DOE workshop was repeated as a special session at the November 1988 American Nuclear Society Meeting in Washington, DC. Each of the invited speakers prepared detailed papers on his or her respective topic. The individual papers have been cataloged separately

  12. An Empirical Evaluation of the Florida Tax Credit Scholarship Program. School Choice Issues in the State

    Science.gov (United States)

    Forster, Greg; D'Andrea, Christian

    2009-01-01

    This study examines the Florida Tax Credit Scholarship program, one of the nation's largest school choice programs. It is the first ever completed empirical evaluation of a tax-credit scholarship program, a type of program that creates school choice through the tax code. Earlier reports, including a recent one on the Florida program, have not…

  13. Strategies for navigating the healthcare credit market.

    Science.gov (United States)

    Wareham, T L

    2001-04-01

    Not-for-profit healthcare organizations are experiencing a tightened credit market due to financial stresses on the healthcare industry such as declining payments, effects of the Balanced Budget Act of 1997, and the shift to outpatient care. In the future, healthcare organizations wanting to access the capital market will be expected to preserve cash as an "insurance policy," offer greater security and stricter covenants, and report financial information on a quarterly basis. To meet these requirements and navigate today's tighter credit market, healthcare financial managers will need to focus on the organization's most reliably profitable areas of business, link strategic and financial issues, and carefully monitor the balance sheet.

  14. 75 FR 52283 - Advance Notice of Proposed Rulemaking Regarding Alternatives to the Use of Credit Ratings in the...

    Science.gov (United States)

    2010-08-25

    ... Alternatives to the Use of Credit Ratings in the Risk-Based Capital Guidelines of the Federal Banking Agencies... the use of external credit ratings in the regulations of the OCC. II. Risk-Based Capital Standards In.../joint22.htm . The agencies' risk-based capital standards reference credit ratings issued by NRSROs (credit...

  15. Global Governance: Old and New Issues

    OpenAIRE

    Gary Clyde Hufbauer

    2008-01-01

    This paper opens with a short recollection of the Kiel Week Conference of 2002, recorded in a volume edited by Horst Siebert, titled Global Governance: An Architecture for the World Economy. Assess-ments and forecasts made at that time are scored against subsequent developments. Security relations between the great powers are asserted to define the space for global economic governance. Over the next thirty years, the security context is not likely to provide the same inspiration for global ec...

  16. Credit Risk Management - Loan Approval Process

    Directory of Open Access Journals (Sweden)

    Lulzim Rashiti

    2016-03-01

    Full Text Available The aim of this study is on understanding the international regulations issued by Basel I, Basel II and Basel III to best supervise and manage credit risk management policies. Part of paper will focus on the description and impacts of the regulations and the pivotal importance they play in providing a sound banking system. Credit risk represents another important element that will be analysed considering that it lays the foundation during the loan consideration and approval process. The paper will also explain in detail procedures and responsibilities shared along the process of loan acceptance by a banker. To sum up, the overall process from application to loan approval or denial will be explained pointing out the implications that are faced along the way

  17. Credit concession through credit scoring: Analysis and application proposal

    Directory of Open Access Journals (Sweden)

    Oriol Amat

    2017-01-01

    Full Text Available Purpose: The study herein develops and tests a credit scoring model which can help financial institutions in assessing credit requests.  Design/methodology/approach: The empirical study has the objective of answering two questions: (1 Which ratios better discriminate the companies based on their being solvent or insolvent? and (2 What is the relative importance of these ratios? To do this, several statistical techniques with a multifactorial focus have been used (Multivariate Analysis of Variance, Linear Discriminant Analysis, Logit and Probit Models. Several samples of companies have been used in order to obtain and to test the model.  Findings: Through the application of several statistical techniques, the credit scoring model has been proved to be effective in discriminating between good and bad creditors.  Research limitations:  This study focuses on manufacturing, commercial and services companies of all sizes in Spain; Therefore, the conclusions may differ for other geographical locations. Practical implications:  Because credit is one of the main drivers of growth, a solid credit scoring model can help financial institutions assessing to whom to grant credit and to whom not to grant credit. Social implications: Because of the growing importance of credit for our society and the fear of granting it due to the latest financial turmoil, a solid credit scoring model can strengthen the trust toward the financial institutions assessment’s.  Originality/value: There is already a stream of literature related to credit scoring. However, this paper focuses on Spanish firms and proves the results of our model based on real data. The application of the model to detect the probability of default in loans is original.

  18. Arizona Education Tax Credit and Hidden Considerations of Justice

    Directory of Open Access Journals (Sweden)

    Michele S. Moses

    2000-08-01

    Full Text Available The current debate over market-based ideas for educational reform is examined, focusing specifically on the recent movement toward education tax credits. Viewing the Arizona education tax credit law as a voucher plan in sheep's clothing, I argue that the concept of justice underlying the law is a crucial issue largely missing from the school choice debate. I question the libertarian conception of justice assumed by voucher and tax credit advocates, and argue instead that a contemporary liberal democratic conception of justice ought to undergird attempts at school reform. A call for educators and policymakers to concentrate energies on efforts to help needy students rather than on efforts to channel tax dollars toward self- interested ends concludes the article.

  19. A validated methodology for evaluating burnup credit in spent fuel casks

    International Nuclear Information System (INIS)

    Brady, M.C.; Sanders, T.L.

    1991-01-01

    The concept of allowing reactivity credit for the transmuted state of spent fuel offers both economic and risk incentives. This paper presents a general overview of the technical work being performed in support of the US Department of Energy (DOE) program to resolve issues related to the implementation of burnup credit. An analysis methodology is presented along with information representing the validation of the method against available experimental data. The experimental data that are applicable to burnup credit include chemical assay data for the validation of the isotopic prediction models, fresh fuel critical experiments for the validation of criticality calculations for various casks geometries, and reactor restart critical data to validate criticality calculations with spent fuel. The methodology has been specifically developed to be simple and generally applicable, therefore giving rise to uncertainties or sensitivities which are identified and quantified in terms of a percent bias in k eff . Implementation issues affecting licensing requirements and operational procedures are discussed briefly

  20. A validated methodology for evaluating burnup credit in spent fuel casks

    International Nuclear Information System (INIS)

    Brady, M.C.; Sanders, T.L.

    1991-01-01

    The concept of allowing reactivity credit for the transmuted state of spent fuel offers both economic and risk incentives. This paper presents a general overview of the technical work being performed in support of the U.S. Department of Energy (DOE) program to resolve issues related to the implementation of burnup credit. An analysis methodology is presented along with information representing the validation of the method against available experimental data. The experimental data that are applicable to burnup credit include chemical assay data for the validation of the isotopic prediction models, fresh fuel critical experiments for the validation of criticality calculations for various cask geometries, and reactor restart critical data to validate criticality calculations with spent fuel. The methodology has been specifically developed to be simple and generally applicable, therefore giving rise to uncertainties or sensitivities which are identified and quantified in terms of a percent bias in k eff . Implementation issues affecting licensing requirements and operational procedures are discussed briefly. (Author)

  1. A validated methodology for evaluating burnup credit in spent fuel casks

    International Nuclear Information System (INIS)

    Brady, M.C.; Sanders, T.L.

    1991-01-01

    The concept of allowing reactivity credit for the transmuted state of spent fuel offers both economic and risk incentives. This paper presents a general overview of the technical work being performed in support of the US Department of Energy (DOE) program to resolve issues related to the implementation of burnup credit. An analysis methodology is presented along with information representing the validation of the method against available experimental data. The experimental data that are applicable to burnup credit include chemical assay data for the validation of the isotopic prediction models, fresh fuel critical experiments for the validation of criticality calculations for various cask geometries, and reactor restart critical data to validate criticality calculations with spent fuel. The methodology has been specifically developed to be simple and generally applicable, therefore giving rise to uncertainties or sensitivities which are identified and quantified in terms of a percent bias in k eff . Implementation issues affecting licensing requirements and operational procedures are discussed briefly. 24 refs., 3 tabs

  2. 26 CFR 301.6405-1 - Reports of refunds and credits.

    Science.gov (United States)

    2010-04-01

    ... (including any qualified State individual income tax collected by the Federal Government), war profits tax, excess profits tax, estate tax, or gift tax. An exception is provided under which refunds and credits made after July 1, 1972, and attributable to an election under section 165(h) to deduct a disaster loss...

  3. Credit Monitoring – a Core of Credit Risk Management: Theory and Experience

    Directory of Open Access Journals (Sweden)

    Daiva Jurevičienė

    2013-11-01

    Full Text Available Purpose of the article: Purpose of the article is to identify credit monitoring as a keystone of credit risk management in banks. CRM is widely discussed in scientific literature and in reports of institutions undertaking credit risk or supervisory bodies. However majority of such investigations are based on implementation of numerous quantitative or qualitative methods used for credit risk assessment before granting a loan or for credit portfolio risk management. There is a lack of information or investigations made on estimation of the need of credit monitoring in credit risk management process. Scientific aim: Scientific aim is to structure the early warning signs that reflect the condition of credits. Methodology/methods: The paper is based on analysis and resumption of various scientific and professional articles related to organization of credit process in banks. It combines results of assessments of credit monitoring importance in credit risk management process made by theoretical studies as well as investigation of experts. Findings: Finding of the article is presentation of credit monitoring tools that should be applied for corporate (and individual clients via modification of original credit agreement. Conclusions: (limits, implications etc Conclusion of the article is that credit monitoring is a keystone in credit risk management process. The purpose of credit monitoring is to detect in time possible worsening of the loan and to react (make changes in loan agreement. The simplest tool for credit monitoring is to identify early warning signs in time that could be assorted into four groups: EWS of business environment; EWS with regard to management, EWS regarding collateral, EWS in financial analysis. Limitation of investigation is impossibility of evaluation of importance of monitoring process in practice except investigation of experts (employees directly responsible for credit business.

  4. NCA & Credit Guarantees

    African Journals Online (AJOL)

    stooppn

    purposes of the National Credit Act; what the definition of a credit guarantee set out ...... Scholtz et al National Credit Act in para 8.2.4; Scott et al Law of Commerce ..... Eitelberg E "Autonomy of Documentary Credit Undertakings in South African.

  5. 13 CFR 121.510 - What is the size standard for leasing of Government land for uranium mining?

    Science.gov (United States)

    2010-01-01

    ... 13 Business Credit and Assistance 1 2010-01-01 2010-01-01 false What is the size standard for leasing of Government land for uranium mining? 121.510 Section 121.510 Business Credit and Assistance... standard for leasing of Government land for uranium mining? A concern is small for this purpose if it...

  6. Directions of coordination of financial accounting standards with principles for credit risk management in banks

    OpenAIRE

    Voloshyn, Ihor

    2014-01-01

    This paper examines ways of overcoming inconsistencies between IFRS and modern concepts of credit risk management, namely, expected loss model and risk-adjusted loan pricing. Also, it is considered an issue of acceptable levels of concentration risk in bank credit portfolio.

  7. Resolving Governance Issues to Achieve Priority Sustainable Development Goals Related to Solid Waste Management in Developing Countries

    Directory of Open Access Journals (Sweden)

    Ljiljana Rodić

    2017-03-01

    Full Text Available As a key utility service that more than 2 billion people are currently lacking, solid waste management (SWM is a crosscutting issue that can be directly linked to 12 out of the 17 UN Sustainable Development Goals (SDGs. Distinguishing between physical components and governance aspects of SWM, this research focuses on governance issues concerning basic solid waste collection services and controlled disposal, thus addressing the ‘How’ and the ‘Who’ dimensions of a SWM system. As a form of transdisciplinary research, the findings from the literature on governance issues in SWM were iteratively subjected to several rounds of commentary by a large group of stakeholders from six continents, within the authors’ work for the United Nations Environment Programme (UNEP’s 2015 Global Waste Management Outlook. The study identifies a combination of complementary instruments required for extending collection to all and bringing disposal under control. While municipalities have a legal responsibility for providing services to their citizens, various service providers can contribute to an effective SWM system. Appropriate forms of funding are essential to secure financial sustainability of the services under the local conditions of affordability and willingness to pay. As new services require behavioural change on the part of citizens and municipal waste departments alike, communication and exchange with other stakeholders function as enabling and supporting factors. The significance of capacity development is highlighted.

  8. Formal and Informal Credit Markets and Rural Credit Demand in China

    OpenAIRE

    Tang, Sai; Guan, Zhengfei; Jin, Songqing

    2010-01-01

    Credit markets are an essential economic institution. In developing countries, particularly in countries undergoing rapid social and economic transition, it is important to identify emerging credit demand and institute credit supply in a timely manner to facilitate economic transformation. This research focuses on the evolving rural credit market in China, where borrowing from the social network has been common but the recent economic transition has made this informal credit market inadequate...

  9. Government Assistance for Informal Sector Enterprises in Nigeria: A ...

    African Journals Online (AJOL)

    The study also found that the major problems militating against tire repair service are fuel scarcity, spare part problem, lack of access to credit and multiple taxes. Based on the findings above, there is the need to refocus government informal sector support instruments through improved funding. The government should also ...

  10. Exploring the Economic Value of EPAct 2005's PV Tax Credits

    Energy Technology Data Exchange (ETDEWEB)

    Bolinger, Mark; Wiser, Ryan; Ing, Edwin

    2006-03-28

    The market for grid-connected photovoltaics (PV) in the US has grown dramatically in recent years, driven in large part by PV grant or ''buy-down'' programs in California, New Jersey, and many other states. The recent announcement of a new 11-year, $3.2 billion PV program in California suggests that state policy will continue to drive even faster growth over the next decade. Federal policy has also played a role, primarily by providing commercial PV systems access to tax benefits, including accelerated depreciation (5-year MACRS schedule) and a business energy investment tax credit (ITC). With the signing of the Energy Policy Act of 2005 (EPAct) on August 8, the federal government is poised to play a much more significant future role in supporting both commercial and residential PV systems. Specifically, EPAct increased the federal ITC for commercial PV systems from 10% to 30% of system costs, and also created a new 30% ITC (capped at $2000) for residential solar systems. Both changes went into effect on January 1, 2006, and--absent an extension (for which the solar industry has already begun lobbying)--will last for a period of two years: the new residential ITC will expire, and the 30% commercial ITC will revert back to 10%, on January 1, 2008. How much economic value do these new and expanded federal tax credits really provide to PV system purchasers? And what implications might they hold for state/utility PV grant programs? Using a generic (i.e., non-state-specific) cash flow model, this report explores these questions. We begin with a discussion of the taxability of PV grants and their interaction with federal credits, as this issue significantly affects the analysis that follows. We then calculate the incremental value of EPAct's new and expanded credits for PV systems of different sizes, and owned by different types of entities. We conclude with a discussion of potential implications for purchasers of PV systems, as well as for

  11. E-Government: Issues and Implications for Public Libraries

    Science.gov (United States)

    Berryman, Jennifer

    2004-01-01

    Reviews the literature of e-government deployment world-wide, focussing on two possible roles for public libraries in e-government. The first is a continuation of their traditional role of information provision and managing library transactions electronically and the second, a move to handling government business transactions as well. Identifies…

  12. Petra Governance Handbook - WP7 – Governance structures & business models : D7.3: Governance Handbook

    NARCIS (Netherlands)

    Veeneman, W.; Hirschhorn, F.; Klievink, A.J.; Steenhuisen, B.M.; van der Voort, H.G.

    2017-01-01

    This document represents the governance handbook on mobility data platforms for the PETRA project. The governance handbook provides metropolitan authorities contemplating the implementation of a mobility data platform in line with the PETRA project about governance issues and design.
    The

  13. 银行贷款、商业信用融资及我国上市公司的公司治理%Bank Lending, Trade Credit and Corporate Governance in China

    Institute of Scientific and Technical Information of China (English)

    杨勇; 黄曼丽; 宋敏

    2009-01-01

    本文讨论了银行贷款以及商业信用融资对我国上市公司公司治理的影响.通过对1995到2000年间上市公司CEO更换的研究,我们得到两个结论:第一,在经营业绩为负的公司中,银行贷款与强制性CEO更换存在负向关系,而商业信用融资与强制性CEO更换存在正向关系;第二,在盈利能力一般的公司中,商业信用融资与强制性CEO更换仍为正向关系,但银行贷款与强制性CEO更换却不存在明显的关系.以上结果表明,商业信用融资在CEO强制性更换中起到了积极的作用,改善了上市公司的公司治理,而银行贷款却没有起到相应的作用,甚至有负面的作用.%Corporate finance theories suggest that creditors, including commercial banks and trade credit suppliers, have the incentive and capacity to discipline poorly performing managers. This study analyzes how bank borrowing and trade credit financing are related to forced turnover rate of the Chief Executive Officers in China listed firms. We achieve two major results: Among loss-making firms, there is a negative relationship between the amount of bank borrowing and the forced turnover rate; and a positive relation between the amount of trade credit financing and the forced turnover rate. Among firms with low profitability, we find a positive relationship between the amount of trade credit financing and the forced turnover rate; but no relationship between the amount of bank borrowing and the forced turnover rate. Our results suggest that state-owned banks perform a dysfunctional role and the trade credit suppliers perform a beneficial role in the corporate governance of China's listed firms. Our findings on the dysfunctional roles of state-owned banks in corporate governance of China's listed firms are consistent with the theoretical arguments that state-owned banks tend to have a weak incentive to exercise corporate controls owing to the political and private uses of banks by bureaucrats. Our

  14. PRE-CONTRACTUAL INFORMATION IN CREDIT AGREEMENTS FOR CONSUMERS

    Directory of Open Access Journals (Sweden)

    Mihaela-Irina IONESCU

    2015-07-01

    Full Text Available The article provides an image to the point on information provided to consumers before the conclusion of a credit contract, starting with the importance of information and ending with the legal framework. A high consumer protection may be achieved primarily through consumer information. The complexity of banking services but also the vulnerability of consumers in relation to the banks and the unbalanced relationship led to the need to develop specific legislation that clearly establishes the rights and obligations of the parties of a credit agreement for consumers. In this regard, in 2008, after many debates, Directive 2008/48/EC of the European Parliament and of the Council on credit agreements for consumers was adopted. At national level, the Directive was transposed by the Government Emergency Ordinance no. 50/2010 on credit agreements for consumers. Taking into account national specificities, such as lack of experience of consumers in financial products, the irresponsible lending and the unfair practices of creditors, the national act includes wider provisions than the European Directive, such as those relating to fees limitations or those related to the calculation of the variable interest rate. Also the GEO no 50/2010 applies to all credit agreements concluded by consumers and creditors. As regards the advertising, any advertisement shall include a series of standard information. Also, pre-contractual information is standard information, is provided to consumers 15 days before the contract is concluded and is transmitted through the “European Consumer Credit Information sheet Standard”. The article presents when, how and what information should be given to consumers and insists on the importance of annual percentage rate and to what consumers should pay attention in order to be able to compare different offers.

  15. Capacity credit of wind power in the Netherlands

    International Nuclear Information System (INIS)

    Wijk, A.J.M. van; Turkenburg, W.C.

    1993-01-01

    The Dutch Government has stated that by the year 2000 a total amount of 1000 MW wind power should be installed in the Netherlands. The penetration of wind power into the electricity supply system poses questions about the costs and benefits of wind power. One of the parameters affecting the benefits is the amount of conventional capacity that can be saved by wind power, the so-called 'capacity credit'. In this study the capacity credit of wind power in the Netherlands is analysed. The capacity credit is calculated using a probabilistic method which evaluates the loss of load expectation (LOLE) of the total electricity generating system. In these evaluations the available wind power is treated as 'negative load'. The capacity credit is evaluated with respect to the Dutch electricity generating system and the electricity demand that is projected for the year 2000 by the Dutch utilities. Special attention is given to modelling the hourly wind power production. The model incorporates detailed siting information, wind speed data for several meteorological stations and the power curves of five different types of wind turbines. The average amount of electricity produced by wind power can be expressed by the capacity factor. For the set of assumptions and for the meteorological conditions for the years investigated the capacity factor has a value of 22%. 30 refs, 10 figs, 3 tabs

  16. Farmers and finance : experience with institutional savings and credit in West Java

    NARCIS (Netherlands)

    Moll, H.A.J.

    1989-01-01

    This study deals with an experimental savings and credit scheme developed for vegetable farmers in West Java, Indonesia, by a technical cooperation project between the governments of Indonesia and The Netherlands. Key elements were:
    a) An organizational structure with three

  17. Fiscal sustainability and contingent liabilities from recent credit expansions in South Korea and Thailand

    OpenAIRE

    Diego Valderrama

    2005-01-01

    While South Korea and Thailand had relatively sustainable fiscal policies prior to the Asian crisis, the long-term cost of the bailout of their financial sectors amounted to an estimated 30 to 40 percent of output, which was largely financed by public borrowing. The recent credit expansions in South Korea and Thailand have created new contingent liabilities for the governments of the two countries. This paper evaluates the impact of these rapid credit expansions on the sustainability of fisca...

  18. Refundable Tax Credits

    OpenAIRE

    Congressional Budget Office

    2013-01-01

    In 1975, the first refundable tax credit—the earned income tax credit (EITC)—took effect. Since then, the number and cost of refundable tax credits—credits that can result in net payments from the government—have grown considerably. Those credits will cost $149 billion in 2013, CBO estimates, mostly for the EITC and the child tax credit.

  19. 12 CFR 1710.16 - Prohibition of extensions of credit to board members and executive officers.

    Science.gov (United States)

    2010-01-01

    ... ENTERPRISE OVERSIGHT, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT SAFETY AND SOUNDNESS CORPORATE GOVERNANCE Corporate Practices and Procedures § 1710.16 Prohibition of extensions of credit to board members and...

  20. 75 FR 17976 - WNC Tax Credits 38, LLC, WNC Tax Credits 39, LLC, WNC Housing Tax Credits Manager, LLC and WNC...

    Science.gov (United States)

    2010-04-08

    ... Credits 38, LLC, WNC Tax Credits 39, LLC, WNC Housing Tax Credits Manager, LLC and WNC & Associates, Inc... collectively, the ``Funds''), WNC Housing Tax Credits Manager, LLC (the ``Manager'') and WNC & Associates, Inc... credit under the Internal Revenue Code of 1986, as amended. The Manager is a California limited liability...

  1. Introduction of Credit Derivatives and Valuation of Credit Default Swap

    OpenAIRE

    Han, Lu

    2006-01-01

    The credit derivative market was established at the beginning of the 1990s since the emergence of credit derivatives fits the rapid development of the whole derivatives market. However, compare to other derivative market, this market is still small and incomplete. As with other derivatives, credit derivatives can be used to either take more risk or hedge it, hence various credit derivatives instruments are accepted and widely used by market participants such as banks, insurance companies, etc...

  2. Electronic U.S. Government Information: Policy Issues and Directions.

    Science.gov (United States)

    Hernon, Peter; McClure, Charles R.

    1993-01-01

    Provides an overview of U.S. federal information policy and its treatment of electronic information resources. Highlights include government publications; electronic government information; main providers of government information, including the Government Printing Office; the Freedom of Information Act; public access and use; information…

  3. Mobil emission reduction credits for natural gas vehicle programs

    International Nuclear Information System (INIS)

    Baker, G.F.

    1993-01-01

    Since the passage of the Clean Air Act Amendments in 1990, there has been increasing interest among regulators and business interests alike in innovative, market-based strategies to air quality control. In particular, larger metropolitan areas have begun to examine marketable emission reduction credit (ERC) programs. These programs limit the total allowable emissions in a non-attainment area, allocate these emission open-quotes creditsclose quotes among sources in the region, and allow the sources to redistribute their allowances through trading. This approach provides for the most cost-effective distribution of control burdens among affected sources, taking advantage of the differences in marginal control costs. Some control measures applied to mobile sources may be significantly less expensive than those applied to stationary sources, making mobile sources an excellent candidate for inclusion in an ERC program. However, there are several potential problems involving quantification, enforcement, and credit trading issues that hinder the development of mobile source ERC programs. This paper will evaluate those obstacles and discuss how they are being addressed in a Natural Gas Vehicle (NGV) program currently under development for the Houston ozone non-attainment area. Specifically, the study will outline the credit validation (i.e., quantification) procedure, including baseline emission determination and emission testing for each NGV in the program. In addition, the study will describe the vehicle/fuel consumption tracking system, and discuss issues related to credit trading with stationary sources. Finally, observations are made concerning the applicability of mobile ERC programs for other emission control measures such as old vehicle scrappage and vehicle Inspection and Maintenance programs

  4. Protecting Government Works: The Copyright Issue

    National Research Council Canada - National Science Library

    Manz, Paul C; Zelenka, Michael J; Wittig, Raymond S; Smith, Sally A

    2002-01-01

    The federal government, through its employees and contractors, produces commercially valuable inventions and information every day, often without any protection of the intellectual property involved...

  5. 13 CFR 121.402 - What size standards are applicable to Federal Government Contracting programs?

    Science.gov (United States)

    2010-01-01

    ... Size Eligibility Requirements for Government Procurement § 121.402 What size standards are applicable... being purchased. Other factors considered include previous Government procurement classifications of the... to Federal Government Contracting programs? 121.402 Section 121.402 Business Credit and Assistance...

  6. Inter-trading permanent emissions credits and rented temporary carbon emissions offsets. Some issues and alternatives

    International Nuclear Information System (INIS)

    Sedjo, Roger A.; Marland, Gregg

    2003-01-01

    Permit trading among polluting parties is now firmly established as a policy tool in a range of environmental policy areas. The Kyoto Protocol accepts the principle that sequestration of carbon in the terrestrial biosphere can be used to offset emissions of carbon from fossil fuel combustion and outlines mechanisms. Although the lack of guaranteed permanence of biological offsets is often viewed as a defect, this paper argues that the absence of guaranteed permanence need not be a fundamental problem. We view carbon emissions as a liability issue. One purpose of an emissions credit system is to provide the emitter with a means to satisfy the carbon liability associated with her firm's (or country's) release of carbon into the atmosphere. We have developed and here expand on a rental approach, in which sequestered carbon is explicitly treated as temporary: the emitter temporarily satisfies his liability by temporarily 'parking' his liability, for a fee, in a terrestrial carbon reservoir, or 'sink,' such as a forest or agricultural soil. Finally, the paper relates the value of permanent and temporary sequestration and argues that both instruments are tradable and have a high degree of substitutability that allows them to interact in markets

  7. Credit Card Risk Behavior on College Campuses: Evidence from Brazil

    Directory of Open Access Journals (Sweden)

    Wesley Mendes-da-Silva

    2012-07-01

    Full Text Available College students frequently show they have little skill when it comes to using a credit card in a responsible manner. This article deals with this issue in an emerging market and in a pioneering manner. University students (n = 769 in São Paulo, Brazil’s main financial center, replied to a questionnaire about their credit card use habits. Using Logit models, associations were discovered between personal characteristics and credit card use habits that involve financially risky behavior. The main results were: (a a larger number of credit cards increases the probability of risky behavior; (b students who alleged they knew what interest rates the card administrators were charging were less inclined to engage in risky behavior. The results are of interest to the financial industry, to university managers and to policy makers. This article points to the advisability, indeed necessity, of providing students with information about the use of financial products (notably credit cards bearing in mind the high interest rates which their users are charged. The findings regarding student behavior in the use of credit cards in emerging economies are both significant and relevant. Furthermore, financial literature, while recognizing the importance of the topic, has not significantly examined the phenomenon in emerging economies.

  8. The use of burnup credit for spent fuel cask design

    International Nuclear Information System (INIS)

    Lake, W.H.

    1993-01-01

    A new generation of high capacity spent fuel transport casks is being developed by the U.S. Department of Energy (DOE) as part of the Federal Waste Management System (FWMS). Burnup credit, which recognizes the reduced reactivity of spent fuel is being used for these casks. Two cask designs being developed for DOE by Babcock and Wilcox and General Atomics use burnup credit. The cask designs must be certified by the U.S. Nuclear Regulatory Commission (NRC) if they are to be used in the FWMS. Certification of these casks by the NRC would not require any change in the NRC's transport regulations, and would be consistent with past practices. Furthermore, use of burnup credit casks appears to be consistent with current International Atomic Energy Agency (IAEA) rules and regulations. To support NRC certification, DOE has identified the technical issues related to burnup credit, and embarked on a development program to resolve them. (J.P.N.)

  9. Information Asymmetry and Credit Risk

    Directory of Open Access Journals (Sweden)

    Lorena TUPANGIU

    2017-11-01

    Full Text Available Information asymmetry defines relationships where an agent holds information while another does not hold it. Thus, to the extent that one of the parties to the financing agreement has information more or less accurate than another, the asymmetry of information appears to be a major constraint in the financing of a project. Banks, in their capacity of financial intermediary, operate the transfer of funds to agents in need of financing, to the borrowers, being necessary in this process to have more information in order to benefit of expertise in assessing borrowers. The research of information asymmetry and credit risk consists of interrogating the following aspects: information issues between the bank and borrowers; settlement of information issues; bank’s activism towards information asymmetry. In our approach we will look at the first aspect, namely the information issues between the bank and the borrowers.

  10. Helping Raise the Official Statistics Capability of Government Employees

    Directory of Open Access Journals (Sweden)

    Forbes Sharleen

    2016-12-01

    Full Text Available Both the production and the use of official statistics are important in the business of government. In New Zealand, concern persists about many government advisors’ low level of statistical capability. One programme designed specifically to enhance capability is New Zealand’s National Certificate of Official Statistics, first introduced in 2007 and originally targeted at government policy analysts and advisors. It now includes participants from many agencies, including the National Statistics Office. The competency-based 40-credit certificate comprises four taught units that aim to give students skills in basic official statistics and in critically evaluating statistical, research, policy, or media publications for their quality (of data, survey design, analysis, and conclusions and appropriateness for some policy issue (e.g., how to reduce problem gambling, together with an ‘umbrella’ workplace-based statistics project. Case studies are used to embed the statistics learning into the real-world context of these students. Several surveys of students and their managers were undertaken to evaluate the effectiveness of the certificate in terms of enhancing skill levels and meeting organisational needs and also to examine barriers to completion of the certificate. The results were used to both modify the programme and extend its international applicability.

  11. Credit securitization and credit derivatives: Financial instruments and the credit risk management of middle market commercial loan portfolios

    OpenAIRE

    Henke, Sabine; Burghof, Hans-Peter; Rudolph, Bernd

    1998-01-01

    Banks increasingly recognize the need to measure and manage the credit risk of their loans on a portfolio basis. We address the subportfolio "middle market". Due to their specific lending policy for this market segment it is an important task for banks to systematically identify regional and industrial credit concentrations and reduce the detected concentrations through diversification. In recent years, the development of markets for credit securitization and credit derivatives has provided n...

  12. Modernization of credit relations

    Directory of Open Access Journals (Sweden)

    S.V. Volosovich

    2015-03-01

    Full Text Available Nowadays it is essential to modernize credit relations in the conditions of global economy transformations. This is due to the influence of integration processes on credit relations and transformation of the risks inherent in the credit field. The purpose of this article is to develop measures that help to improve the efficiency of interaction of credit relations’ participants. Modernization of credit relations is based on the interaction of its main and indirect subjects who belong to the subsystems of loans granting, deposits attraction and provision of related services. Its goal is to pass from extensive to intensive model of interaction between the subjects of credit relations. Components of the credit relations modernization are the following: institutional modernization, which is based on the interaction of credit relations’ subjects, and ensures the development of competition in all credit market’s segments, the creation of its corresponding infrastructure, qualitative change in the approaches of regulation and supervision; technological modernization, which involves the formation of joint products on the credit market and the formation of an integrated informational and analytical system. In the result of the credit relations’ modernization it is expected to achieve synergies between the subjects of credit relations, that will lead to changes in the business architecture of the financial market.

  13. 13 CFR 120.642 - Requirements before the FTA issues Pool Certificates.

    Science.gov (United States)

    2010-01-01

    ... 13 Business Credit and Assistance 1 2010-01-01 2010-01-01 false Requirements before the FTA issues Pool Certificates. 120.642 Section 120.642 Business Credit and Assistance SMALL BUSINESS ADMINISTRATION BUSINESS LOANS Secondary Market Miscellaneous Provisions § 120.642 Requirements before the FTA issues Pool...

  14. 13 CFR 120.643 - Requirements before the FTA issues Individual Certificates.

    Science.gov (United States)

    2010-01-01

    ... 13 Business Credit and Assistance 1 2010-01-01 2010-01-01 false Requirements before the FTA issues Individual Certificates. 120.643 Section 120.643 Business Credit and Assistance SMALL BUSINESS ADMINISTRATION BUSINESS LOANS Secondary Market Miscellaneous Provisions § 120.643 Requirements before the FTA issues...

  15. isk governance: Experience of Islamic banks

    Directory of Open Access Journals (Sweden)

    Siti Rohaya Mat Rahim

    2015-05-01

    Full Text Available Risk governance has evolved tremendously in the banking industry. Risk governance recommends the imperative roles of Chief Risk Officer (CRO to oversee risk. This study explores risk governance influence over the Islamic banks performances. Multivariate analysis techniques measure simultaneously via Structural Equation Modelling (SEM. This study employed cross-sectional sample of 200 Islamic banks across 21 countries for the year 2014. To examine risk governance and Islamic banks performance, the study captures seventeen variables developed from risk management and corporate governance (ROA, ROE, Profit Margin, CRO, Shariah committee member, CEO, board size, remuneration meeting, credit rating, external audit, accounting standard, loan loss provision, capital adequacy ratio, total deposit ratio, GDP, central bank lending rate and inflation. The simulation result reveals, risk governance act as mediating variables towards Islamic banks performance. This study has practical and significance contribution for Islamic banks to understand risk governance, aligning with the fundamental risk management and corporate governance

  16. Impact of private sector credit on the real sector of Nigeria

    Directory of Open Access Journals (Sweden)

    Aliyu Mamman, Ph.D

    2013-07-01

    Full Text Available The real sector is a strategic component of an economy because it produces and distributes tangible goods and services required to satisfy aggregate demand in the economy. For this reason, there is the need for adequate credit flow from the banking industry to the real sector, which in the Nigerian case, the credit flow has been grossly inadequate. This study is carried out to examine the impact of credit to private sector (CPS on the real sector of Nigeria with a view to assess the significant contribution of CPS to real sector growth in Nigeria. The study used aggregate time series data from 1986 to 2010, which was drawn from central bank of Nigeria (CBN statistical bulletin and CBN annual report and statement of accounts. The data was analysed using multiple regression and based on the coefficient of determination (R square, the study reveals a 96.1% variation between the CPS and real sector growth in Nigeria. The study cocludes that there is a statistically significant impact of credit to private sector on the real sector of Nigeria. This, suggest that the performance of the real sector is greatly influence by credit to private sector. The study recommends that the federal government of Nigeria through the central bank of Nigeria (CBN should enhance the financing of the real sector as well as improve credit flow to the sector because of its strategic importance in creating and generating growth of the economy.

  17. Taxation of credit unions in Ukraine

    Directory of Open Access Journals (Sweden)

    Оксана Георгіївна Волкова

    2015-10-01

    Full Text Available The article deals with the issues of income taxation of credit unions in Ukraine by the tax on profits of enterprises and tax of revenues of their members accrued on the interest of contributions (deposits on deposit accounts and mutual funds the tax to incomes of physical persons. The consequences of the influence of tax rules on capitalization of unions and the level of their financial support is defined

  18. Credit Card Security

    OpenAIRE

    G.C., Anup

    2013-01-01

    Author: Anup G.C. Year: 2013 Subject of thesis: Credit Card Security Number of pages: 36+2 Credit Card is a widely used electronic chip for easy transactions. The main purpose of the report was to show the security measures of transaction by credit cards. The purpose was to give information about credit cards and how they were introduced. The thesis reportcontained the types of card theft with examples and sited the various protocols used for online ...

  19. 77 FR 41270 - Health Insurance Premium Tax Credit

    Science.gov (United States)

    2012-07-13

    ... DEPARTMENT OF THE TREASURY Internal Revenue Service 26 CFR Parts 1 and 602 [TD 9590] RIN 1545-BJ82 Health Insurance Premium Tax Credit Correction In rule document 2012-12421 appearing on pages 30377-30400 in the issue of Wednesday, May 23, 2012, make the following corrections: 0 1. On page 30385, in the...

  20. 76 FR 40946 - WNC Tax Credits 40, LLC, WNC Tax Credits 41, LLC, WNC Housing Tax Credits Manager 2, LLC, WNC...

    Science.gov (United States)

    2011-07-12

    ... Credits 40, LLC, WNC Tax Credits 41, LLC, WNC Housing Tax Credits Manager 2, LLC, WNC National Partners... (``Fund 41'') (each a ``Fund,'' and collectively, the ``Funds''), WNC Housing Tax Credits Manager 2, LLC (the ``Manager''), WNC National Partners, LLC (``WNC National Partners'') and WNC & Associates, Inc...

  1. Joint replenishment and credit policies under two levels of trade credit financing when demand and bad-debt loss depends upon credit period

    Directory of Open Access Journals (Sweden)

    Aggarawal K.K.

    2016-01-01

    Full Text Available In practice, a firm usually receives trade credit financing from its supplier on the purchase of inventory. Similarly, in order to meet competition and generate credit sales over and above cash sales, the firm also gives credit period to their customers. However, the decision of granting credit period may have a disintegrating effect on cash sales apart from generating new credit sales because some of the cash customers may switch to credit purchase. In addition, despite of the best credit granting policies and collection practices, the firm may incurs some amount of bad debt losses because a certain fraction of buyers will undoubtedly be unable to pay off their debt obligations and become bad debt loss to the firm. In this paper, using discounted cash flow (DCF approach, a mathematical model is developed to jointly determine optimal inventory and credit policies under two levels of trade credit financing when demand and bad-debt losses are dependent on credit period. The objective of the model is to maximize the present value of firm’s net profit per unit time by jointly optimizing the replenishment interval and date-terms credit period. Numerical examples and sensitivity analysis are presented to illustrate the effectiveness of the proposed model, and the results are discussed.

  2. How carbon credits could drive the emergence of renewable energies

    Energy Technology Data Exchange (ETDEWEB)

    Mathews, John A. [Macquarie Graduate School of Management, Macquarie University, Sydney, NSW 2109 (Australia)

    2008-10-15

    The shift to renewable energy options and low-carbon technologies, in response to the concerns over energy security and climate change, is proceeding more slowly than many would like. The usual argument against rapid deployment of new technologies is the costs imposed on the economy, commonly interpreted in terms of upfront costs to be borne or involving large cash transfers to fund, for example, efforts to preserve rainforests. In this contribution I argue that such a perspective provides a continuing barrier to taking effective action, whereas a perspective based on creation and use of carbon credits provides a means of avoiding the shock of abrupt industrial change. Carbon credits granted for bona fide carbon load reductions could be created through private initiative, for example by merchant banks, to constitute a market that will complement regulatory-based initiatives such as national emissions trading systems. This is not a novel idea; indeed it is the way that capitalism has funded every major change, including the Industrial Revolution, through the creation of credit. The emergence of a global carbon credit economy is likely to precede a global regulatory system governing climate change and will doubtless help to stimulate the emergence of such a global system. (author)

  3. How carbon credits could drive the emergence of renewable energies

    International Nuclear Information System (INIS)

    Mathews, John A.

    2008-01-01

    The shift to renewable energy options and low-carbon technologies, in response to the concerns over energy security and climate change, is proceeding more slowly than many would like. The usual argument against rapid deployment of new technologies is the costs imposed on the economy, commonly interpreted in terms of upfront costs to be borne or involving large cash transfers to fund, for example, efforts to preserve rainforests. In this contribution I argue that such a perspective provides a continuing barrier to taking effective action, whereas a perspective based on creation and use of carbon credits provides a means of avoiding the shock of abrupt industrial change. Carbon credits granted for bona fide carbon load reductions could be created through private initiative, for example by merchant banks, to constitute a market that will complement regulatory-based initiatives such as national emissions trading systems. This is not a novel idea; indeed it is the way that capitalism has funded every major change, including the Industrial Revolution, through the creation of credit. The emergence of a global carbon credit economy is likely to precede a global regulatory system governing climate change and will doubtless help to stimulate the emergence of such a global system

  4. Funding School Choice: A Road Map to Tax-Credit Scholarship Programs and Scholarship Granting Organizations. Issues in Depth

    Science.gov (United States)

    Forster, Greg

    2006-01-01

    Many states are considering a form a school choice known as "tax-credit scholarships," which currently provide school choice to almost 60,000 students in Arizona, Florida and Pennsylvania, which and have just been enacted in Iowa. This guide shows how tax-credit scholarships work and introduces the scholarship granting organizations that…

  5. THE IMPACT OF CREDIT AND CAPITAL SUPPORTS ON ECONOMIC BEHAVIOR OF FARM HOUSEHOLDS: A HOUSEHOLD ECONOMIC APPROACH

    Directory of Open Access Journals (Sweden)

    Bernardus Bala de Rosari

    2014-07-01

    Full Text Available This research aimed at analysing the demand and allocation of credit and capital supports by farm household and impact on production, consumption, and investment. The research was conducted in East Nusa Tenggara Timur (ENT Province, one of targeted region of credit and capital supports policy of the government. Data collection was conducted from April to June 2013 by sampling for 178 households of farmers in Kupang District and Timor Tengah Selatan (TTS District. The result of this research showed that the allocation of credit and capital supports caused increaseof cattle production, consumption expenditure, and investment. The usage of credit and capital supports was depend on economical situation of the household itself. The decision of farm household on using credit and capital supports had impact on overall economical behavior of household, i.e. production, consumption and investment behavior. The transmission use was reciprocally interacted. Finally, the policy of credit and capital supports scheme for farmers should be adjusted with the context of farm household economics.

  6. MICRO CREDIT SYSTEM FOR INCREASING FEMALEEMPLOYMENT AND ENTREPRENEURSHIP IN TURKEY

    Directory of Open Access Journals (Sweden)

    Şenol Yaprak

    2017-01-01

    Full Text Available Women labor participation rate is very low in Turkey. Although the governmentincentive policies have relatively improved, positive developments expected in thisarea have not taken place at the desired level. The micro-credit scheme aiming atproviding relatively smaller amount of loans to entrepreneur women to start theirbusiness began in 1980s in the world, and became operational in our country atthe beginning of 2000s. Currently, certain level of successful is observed throughin many Turkish provinces through this system. To this day, nearly 200thousandfemale entrepreneur established their business through small capital provided bythe micro credit system in Turkey. Moreover, they have already paid back all theloans that they used. In this study, the application of micro-credit system forincreasing female participation in labor force and business life is investigated.The labor participation level of women in Turkey has remained quite low.Although the government incentive policies have relatively provided improvement,the positive developmentsexpected in this area have not taken place at the desiredlevel. The micro-credit scheme aiming at providing relatively lower amount ofloans to women to start their business began in 1980s in the world, and becameoperational in our country at the beginning of 2000s. Currently, we see successfulwork is done through this scheme in many Turkish provinces. In this study, theapplication of micro-credit system for increasing the participation of women inworking life is elaborated.

  7. Determinants of Supply and Demand for Trade Credit by Micro, Small and Medium-Sized Enterprises

    Directory of Open Access Journals (Sweden)

    Claudinê Jordão de Carvalho

    2015-08-01

    Full Text Available This article investigates the determinant factors of supply and demand for trade credit by micro, small and medium-sized enterprises (MSMEs, using data collected in a survey of managers from 481 firms in 32 cities in the states of São Paulo and Minas Gerais (Brazil between 2008 and 2010. The multivariate relationship model proposed here is grounded in trade credit, agency and transaction costs theories. This study is based on a technique known as path analysis that uses a system of simple regressions estimated by simultaneous equations. The main results show the following: (i trade credit and short-term bank loans are supplementary (and not substitute sources of funds for MSMEs, which demonstrates that trade credit can be used by financial institutions as an indicator of the creditworthiness of the company; (ii the proportion of credit sales, the days sales outstanding measure and sales growth are positively related to the amount of trade credit demanded, which suggests that trade credit is transferred along the supply chain; and (iii the supply of trade credit is positively related to the importance that management ascribes to both internal capital and bank credit, which illustrates the strategic use of the supply of trade credit to increase sales. These results have important implications for companies' managers, financial institutions and the government agencies responsible for formulating policies that support and promote the development of small and medium-sized enterprises.

  8. Integration Of Company’s Financial Data In Credit Risk Assessment Using A Multidimensional Model

    Directory of Open Access Journals (Sweden)

    Maria – Monica Haralambie

    2015-12-01

    Full Text Available This paper is a detailed overview from theoretical and practical perspectives of a scoring system used by a financial institution in assessing the credit risk of a corporate client. The objective of this research was to demonstrate the importance of a scoring system for a credit institution when approving a loan application of a potential borrower. The complexity and importance of the topic makes it a subject of high interest for all type of credit institutions. We believe that through this work we were able to bring into discussion only a part of the specific issues related to credit risk management scoring systems and we believe that this work represents a support for future research

  9. Rural Credit in Vietnam

    DEFF Research Database (Denmark)

    Barslund, Mikkel Christoffer; Tarp, Finn

    This paper uses a survey of 932 rural households to uncover how the rural credit market operates in four provinces of Vietnam. Households obtain credit through formal and informal lenders, but formal loans are almost entirely for production and asset accumulation. Interest rates fell from 1997...... to 2002, reflecting increased market integration; but the determinants of formal and informal credit demand are distinct. Credit rationing depends on education and credit history, but we find no evidence of a bias against women. Regional differences are striking, and a ‘one size fits all’ approach...... to credit policy is clearly inappropriate....

  10. Benefits of actinide-only burnup credit for shutdown PWRs

    International Nuclear Information System (INIS)

    Lancaster, D.; Fuentes, E.; Kang, C.; Rivard, D.

    1998-02-01

    Owners of PWRs that are shutdown prior to resolution of interim storage or permanent disposal issues have to make difficult decisions on what to do with their spent fuel. Maine Yankee is currently evaluating multiple options for spent fuel storage. Their spent fuel pool has 1,434 assemblies. In order to evaluate the value to a utility of actinide-only burnup credit, analysis of the number of canisters required with and without burnup credit was made. In order to perform the analysis, loading curves were developed for the Holtec Hi-Star 100/MPC-32. The MPC-32 is hoped to be representative of future burnup credit designs from many vendors. The loading curves were generated using the actinide-only burnup credit currently under NRC review. The canister was analyzed for full loading (32 assemblies) and with partial loadings of 30 and 28 assemblies. If no burnup credit is used the maximum capacity was assumed to be 24 assemblies. this reduced capacity is due to the space required for flux traps which are needed to sufficiently reduce the canister reactivity for the fresh fuel assumption. Without burnup credit the 1,343 assemblies would require 60 canisters. If all the fuel could be loaded into the 32 assembly canisters only 45 canisters would be required. Although the actinide-only burnup credit approach is very conservative, the total number of canisters required is only 47 which is only two short of the minimum possible number of canisters. The utility is expected to buy the canister and the storage overpack. A reasonable cost estimate for the canister plus overpack is $500,000. Actinide-only burnup credit would save 13 canisters and overpacks which is a savings of about $6.5 million. This savings is somewhat reduced since burnup credit requires a verification measurement of burnup. The measurement costs for these assemblies can be estimated as about $1 million. The net savings would be $5.5 million

  11. Raising money with tax incentives: an overview of how U.S. tax credits are marketed

    International Nuclear Information System (INIS)

    Rotroff, A.S.; Sanderson, G.A.

    1997-01-01

    This article outlines a method for using certain U.S. income tax credits to raise investment capital. With proper structuring, these tax credits can essentially be ''sold'' to outside investors. A project which may not have sufficient income to take advantage of tax benefits, such as the 29 alternative fuel credit, may sell an interest in the project to commercial investors who can use tax credits. The investors provide cash for the project in return for the tax credits, as well as a portion of the income generated by the project. This article outlines how this type of arrangement can be structured and which tax credits are available for ''sale''. It also identifies possible sources of investment money, issues that an investor will likely consider before investing in such a project, and the potential pitfalls of such a project. (author)

  12. The Russia Corporate Governance Manual : Part I. Corporate Governance Introduced

    OpenAIRE

    International Finance Corporation; U.S. Department of Commerce

    2004-01-01

    The Russia corporate governance manual has been divided into and is published in six parts: (i) corporate governance introduced; (ii) good board practices; (iii) shareholder rights; (iv) information disclosure and transparency; (v) special focus section; and (vi) annexes model corporate governance documents. The first four parts contain chapters that focus on core corporate governance issu...

  13. A validated methodology for evaluating burn-up credit in spent fuel casks

    International Nuclear Information System (INIS)

    Brady, M.C.; Sanders, T.L.

    1992-01-01

    The concept of allowing reactivity credit for the transmuted state of spent fuel offers both economic and risk incentives. This paper presents a general overview of the technical work being performed in support of the US Department of Energy (USDOE) programme to resolve issues related to the implementation of burn-up credit in spent fuel cask design. An analysis methodology is presented along with information representing the validation of the method against available experimental data. The experimental data that are applicable to burn-up credit include chemical assay data for the validation of the isotopic prediction models, fresh fuel critical experiments for the validation of criticality calculations for various cask geometries, and reactor re-start critical data to validate criticality calculations with spent fuel. The methodology has been specifically developed to be simple and generally applicable, therefore giving rise to uncertainties or sensitivities which are identified and quantified in terms of a percent bias effective multiplication (k eff ). Implementation issues affecting licensing requirements and operational procedures are discussed briefly. (Author)

  14. Credit Participation and Credit Source Selection of Vietnam Small and Medium Enterprises

    Directory of Open Access Journals (Sweden)

    Nguyen Anh Hoang

    2014-10-01

    Full Text Available This study is an attempt to investigate the motivation behind the decision to participate in the credit market of SMEs from perspectives of behavioral finance and social capital theories. In addi- tion, the study also examines the effect of behavioral finance and social capital factors on the credit source selection among SMEs. This study’s design strategy involves conducting questionnaire sur- veys to SMEs owners and statistical techniques to analyze the determinants of credit participation and credit source selection of borrowers. The findings showed that personal traits of SMEs owners/ managers in terms of behavioral finance factors such as debt and risk attitudes, present biased and overconfidence and firms networking also have impacts on the firms’ credit participation and credit source selection. The research is one of the few studies that consider the influence of behavioral finance factors on firms financing decision. Furthermore, our result also contributes to explain the common use of informal credit market in developing countries.

  15. Overview of the burnup credit activities at OECD/NEA/NSC

    International Nuclear Information System (INIS)

    Brady Raap, M.C.; Nomura, Y.; Sartori, E.

    2001-01-01

    This article summarizes activities of the OECD/NEA Burnup Credit Expert Panel, a subordinate group to the Working Party on Nuclear Criticality Safety (WPNCS). The WPNCS of the OECD/NEA coordinates and carries out work in the domain of criticality safety at the international level. Particular attention is devoted to establishing sound databases required in this area and to addressing issues of high relevance such as burnup credit. The activities of the expert panel are aimed toward improving safety and identifying economic solutions to issues concerning the back-end of the fuel cycle. The main objective of the activities of the OECD/NEA Burnup Credit Expert Panel is to demonstrate that the available criticality safety calculational tools are appropriate for application to burned fuel systems and that a reasonable safety margin can be established. The method established by the expert panel for investigating the physics and predictability of burnup credit is based on the specification and comparison of calculational benchmark problems. A wide range of fuel types, including PWR, BWR, MOX, and VVER fuels, has been or are being addressed by the expert panel. The objective and status of each of these benchmark problems is reviewed in this article. It is important to note that the focus of the expert panel is the comparison of the results submitted by each participant to assess the capability of commonly used code systems, not to quantify the physical phenomena investigated in the comparisons or to make recommendations for licensing action. (author)

  16. Household Credit Behaviour and Factors for Its Transformation: Evidence from Russian Monotown

    OpenAIRE

    Leonid A. Shafirov

    2016-01-01

    Current trends in Russian consumer lending, especially against the backdrop of economic crisis of recent years, highlight increasing relevance of the issue of sustainable household credit behavior. Survey conducted in December 2014 and January 2015 was focused on credit behavior of people who live in small depressed Russian monotown Gukovo (sample size is 80 respondents, with the total population of 65,4 thousand people as of January 1, 2015). The study aimed to provide empirical support for ...

  17. Review of Axial Burnup Distribution Considerations for Burnup Credit Calculations

    International Nuclear Information System (INIS)

    Wagner, J.C.; DeHart, M.D.

    2000-01-01

    This report attempts to summarize and consolidate the existing knowledge on axial burnup distribution issues that are important to burnup credit criticality safety calculations. Recently released Nuclear Regulatory Commission (NRC) staff guidance permits limited burnup credit, and thus, has prompted resolution of the axial burnup distribution issue. The reactivity difference between the neutron multiplication factor (keff) calculated with explicit representation of the axial burnup distribution and keff calculated assuming a uniform axial burnup is referred to as the ''end effect.'' This end effect is shown to be dependent on many factors, including the axial-burnup profile, total accumulated burnup, cooling time, initial enrichment, assembly design, and the isotopics considered (i.e., actinide-only or actinides plus fission products). Axial modeling studies, efforts related to the development of axial-profile databases, and the determination of bounding axial profiles are also discussed. Finally, areas that could benefit from further efforts are identified

  18. Special Issue Environmental Governance in China

    NARCIS (Netherlands)

    Carter, N.T.; Mol, A.P.J.

    2006-01-01

    In the face of unprecedented economic and industrial growth levels, China is rapidly developing its system of environmental governance. Coming from a conventional command-and-control approach to environmental policy, which fitted well its centrally planned economy, transitional China is swiftly

  19. Credit Risk Research

    DEFF Research Database (Denmark)

    Zamore, Stephen; Ohene Djan, Kwame; Alon, Ilan

    2018-01-01

    This article provides a comprehensive review of scholarly research on credit risk measurement during the last 57 years applying bibliometric citation analysis and elaborates an agenda for future research. The bibliography is compiled using the Institute for Scientific Information (ISI) Web...... of Science (WOS) database and includes all articles with citations over the period 1960–2016. Specifically, the review is carried out using 1695 articles across 72 countries published in 442 journals by 2928 authors. The findings suggest that credit risk research is multifaceted and can be classified...... into six streams: (1) defaultable security pricing, (2) default intensity modeling, (3) comparative analysis of credit models, (4) comparative analysis of credit markets, (5) credit default swap (CDS) pricing, and (6) loan loss provisions. The article contributes through synthesizing and identifying...

  20. Credit: A Teaching Unit.

    Science.gov (United States)

    Clanton, Brandolyn; And Others

    Intended for teachers of secondary school students, five lessons on consumer credit are presented. In the first lesson students identify and evaluate sources of credit, compare some of the costs and benefits of credit, and learn to apply criteria used in evaluating applications for credit. In the second lesson, students learn about two basic types…

  1. Study on the Application of the Prudence Principle in Accounting of Credit Institutions

    Directory of Open Access Journals (Sweden)

    Riana Iren RADU

    2014-08-01

    Full Text Available With effect from 1 January 2012, according to The NATIONAL BANK of ROMANIA No. 27/2010, International Financial reporting standards (IFRS have become the basis of the accounting system used by credit institutions in Romania. In this context, the regulatory framework relating to the adjustments for impairment of financial assets other than loans and securities is given by IAS39 and IAS 37. In this paper I propose to develop a study on the application of the prudence principle in accounting of credit institutions, a study, which will be the main issues of taxation and accounting implementation of prudent credit institutions.

  2. A HEALTHY DOSE OF PESSIMISM? INFLUENCE OF THE UKRAINIAN ECONOMY ON ITS BANKING SECTOR CREDIT RATINGS

    Directory of Open Access Journals (Sweden)

    Svitlana Pokrason

    2017-09-01

    Full Text Available The purpose of the research is to identify the influence of Ukraine’s economic development on the international agencies' credit rating of its banking system. The instability and ambiguous geopolitical position of Ukraine are complicating any predictions for its economic developments. In the meanwhile, massive restructuring of all sectors of the economy became the necessary minimum for the reformation of the country and the achievement of the international standards. It is interesting to see how exactly these international standards, as represented by the evaluation of the rating agencies, appraise Ukraine, and particularly its banking sector. The methodology involves the analysis of the three major Ukrainian banks – PrivatBank, Oschadbank, and Ukreximbank using Fitch’s credit quality assessment systematic as an example. The comparative analysis was performed using Tier 1 capital ratio and loan-to-deposit ratio of these banks, year-to-year quarterly GDP growth, consumer price index (CPI year-to-year change, UAH/USD exchange rate, 2-year and 5-year government bond yield, as well as 2-year and 5-year credit default swap (CDS. Results show that the most influential credit rating drivers for Ukrainian banks are: exchange rate; funding and liquidity; capital position and asset quality; sovereign risk. The research showed that the 2-year and 5-year government bond yield in USD and 2-year and 5-year CDS were influenced by similar trends. The yield on short-dated Ukrainian governmental bonds has shown a parallel increase with the corresponding CDS that indicated the market’s evaluation of the stressed condition of the country’s government and economy. Additionally, conventional yield structures displayed inversed nature with 2-year governmental bond yield in USD trading at significantly higher yields than 5-year government bond yield in USD during times of economic distress. Although longer maturity instruments should usually trade at a higher

  3. Effect of internal controls on credit risk among listed Spanish banks

    Directory of Open Access Journals (Sweden)

    Ellis Kofi Akwaa-Sekyi

    2016-02-01

    Full Text Available Purpose: The paper examines the effectiveness of internal control systems, explores the exposure of Spanish banks to the dangers of default as a result of internal control systems and establishes a relationship between internal controls and credit risk. Design/Methodology/Approach: Quantitative research approach is used to test hypotheses on the relationship between internal controls and credit risk among listed banks in Spain. Data from Bankscope and company websites from 2004-2013 were used. Generalized Least Squares (random effect econometric estimation technique was used for the model. Findings: We find that internal control systems are in place but their effectiveness cannot be guaranteed. This exposes Spanish listed banks to serious default situations. There is significant effect of internal controls on credit risk especially the control environment, risk management, control activities and monitoring. The non-disclosure of material internal control weakness is a contributory factor to the ineffective internal control systems. There is however a perceived board ineffectiveness which does not augur well for effective internal control systems. Board characteristics for Spanish banks confirm the agency theory. Research Limitations and Implications: Data unavailability for certain years, variables and many inactive banks did not permit a larger sample size than expected. The use of quantitative variables lacks flexibility. Practical Implications: Bank management will find the work useful to ensure strict enforcement of internal control mechanisms and see it as both credit risk and operational risk issues. Central bank should hurry to compel banks to disclose material internal control weakness as provided in the reviewed COSO framework. Social Implications: Ineffective internal controls lead to credit risks, bank closure and loss of investments. Society suffers a lot from such losses and contagion. Disclosure of material internal control

  4. Neural fraud detection in credit card operations.

    Science.gov (United States)

    Dorronsoro, J R; Ginel, F; Sgnchez, C; Cruz, C S

    1997-01-01

    This paper presents an online system for fraud detection of credit card operations based on a neural classifier. Since it is installed in a transactional hub for operation distribution, and not on a card-issuing institution, it acts solely on the information of the operation to be rated and of its immediate previous history, and not on historic databases of past cardholder activities. Among the main characteristics of credit card traffic are the great imbalance between proper and fraudulent operations, and a great degree of mixing between both. To ensure proper model construction, a nonlinear version of Fisher's discriminant analysis, which adequately separates a good proportion of fraudulent operations away from other closer to normal traffic, has been used. The system is fully operational and currently handles more than 12 million operations per year with very satisfactory results.

  5. Credit Scoring by Fuzzy Support Vector Machines with a Novel Membership Function

    Directory of Open Access Journals (Sweden)

    Jian Shi

    2016-11-01

    Full Text Available Due to the recent financial crisis and European debt crisis, credit risk evaluation has become an increasingly important issue for financial institutions. Reliable credit scoring models are crucial for commercial banks to evaluate the financial performance of clients and have been widely studied in the fields of statistics and machine learning. In this paper a novel fuzzy support vector machine (SVM credit scoring model is proposed for credit risk analysis, in which fuzzy membership is adopted to indicate different contribution of each input point to the learning of SVM classification hyperplane. Considering the methodological consistency, support vector data description (SVDD is introduced to construct the fuzzy membership function and to reduce the effect of outliers and noises. The SVDD-based fuzzy SVM model is tested against the traditional fuzzy SVM on two real-world datasets and the research results confirm the effectiveness of the presented method.

  6. A Critical Analysis of the Recent Russian Regulation on Credit Rating Agencies

    Directory of Open Access Journals (Sweden)

    Lorenzo Sasso

    2016-01-01

    Full Text Available Since the recent financial crisis of 2008, credit rating agencies (CRAs have been under scrutiny for their role in the proliferation of structured finance products. Whether their methodological tools and evaluations have been up to standard is in question. As is well-known, CRAs are multinational enterprises that operate on a global basis. Their evaluations may well hinder the stability of international markets. As a legal response to the many concerns raised about CRAs, different approaches have been applied to the use of credit ratings in the US and EU with many similarities. In this international scenario, the government of the Russian Federation also recently introduced a new regulation on CRAs, drafted on the lines of the European regulation. This short paper is targeted to inform the reader of certain aspects of the newly approved regulation in Russia and to examine – in a comparative way – whether the introduced rules match the expectations behind the initiatives of the Russian government.

  7. The impact of credit risk assessment on credit activity of commercial banks

    Directory of Open Access Journals (Sweden)

    Ljubić Marijana

    2015-01-01

    Full Text Available As banks have great social responsibility and are a subject to a specific and extensive regulations, one of the being Basel, the authors of this paper focus on the impact of credit risk assessment on credit activity of commercial banks. The authors of this paper provide a standard for risk management and an insight into directions on how to manage credit risk in the most efficient way and how to assess credit rating of a borrower.

  8. Burnup credit feasibility for BWR spent fuel shipments

    International Nuclear Information System (INIS)

    Broadhead, B.L.

    1990-01-01

    Considerable interest in the allowance of reactivity credit for the exposure history of power reactor fuel currently exists. This ''burnup credit'' issue has the potential to greatly reduce risk and cost when applied to the design and certification of spent of fuel casks used for transportation and storage. Analyses 1 have shown the feasibility estimated the risk and economic incentives for allowing burnup credit in pressurized water reactor (PWR) spent fuel shipping cask applications. This paper summarizes the extension of the previous PWR feasibility assessments to boiling water reactor (BWR) fuel. As with the PWR analysis, the purpose was not verification of burnup credit (see ref. 2 for ongoing work in this area) but a reasonable assessment of the feasibility and potential gains from its use in BWR applications. This feasibility analysis aims to apply simple methods that adequately characterize the time-dependent isotopic compositions of typical BWR fuel. An initial analysis objective was to identify a simple and reliable method for characterizing BWR spent fuel. The method includes characterization of a typical pin-cell spectrum, using a one-dimensional (1-D) model of a BWR assembly. The calculated spectrum allows burnup-dependent few-group material constants to be generated. Point depletion methods were then used to obtain the time-varying characteristics of the fuel. These simple methods were validated, where practical, with multidimensional methods. 6 refs., 1 tab

  9. Credit derivatives in emerging markets

    OpenAIRE

    Romain Rancière

    2002-01-01

    Credit Derivatives are securities that offer protection against credit or default risk of bonds or loans. The credit derivatives emerging market has grown rapidly and credit derivatives are widely used. This paper describes the emerging credit derivatives market structure. The current market activity is analyzed through elementary pricing dynamics and the study of the term structure of default risk. Focusing on the performance of credit derivatives in stress situation, including legal and mar...

  10. A multicriteria approach for rating the credit risk of financial institutions

    NARCIS (Netherlands)

    Baourakis, G.; Conisescu, M.; Dijk, van G.; Pardalos, P.M.; Zopounidis, C.

    2009-01-01

    Within the new bank regulatory context, the assessment of the credit risk of financial institutions is an important issue for supervising authorities and investors. This study explores the possibility of a developing risk assessment model for financial institutions using a multicriteria

  11. Negotiating Collaborative Governance Designs

    DEFF Research Database (Denmark)

    Plotnikof, Mie

    2017-01-01

    This chapter addresses the design and implementation issues of collaborative governance, a public management practice aimed at involving stakeholders in problem-solving and public innovation.......This chapter addresses the design and implementation issues of collaborative governance, a public management practice aimed at involving stakeholders in problem-solving and public innovation....

  12. Energy Efficiency Governance: Handbook

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2010-07-01

    This handbook has been written to assist EE practitioners, government officials and stakeholders to establish effective EE governance structures for their country. The handbook provides readers with relevant information in an accessible format that will help develop comprehensive and effective governance mechanisms. For each of the specific topics dealt with (see Figure 1 in the Handbook), the IEA offers guidelines for addressing issues, or directs readers to examples of how such issues have been dealt with by specific countries.

  13. The influence of sovereign credit ratings on corporate credit ratings.

    OpenAIRE

    Umutoni, Liliane

    2017-01-01

    Credit ratings have a key role in modern financial markets as they communicate crucial information on the creditworthiness of a debt issuer to investors and regulators. These credit ratings are mostly determined by three rating agencies, namely Standard & Poor’s, Moody’s and Fitch, even though, the credit rating industry counts a dozen of recognized rating agencies. Indeed, the three agencies have become the market leaders with a market share of 94.3% on the U.S market (Bloomberg, 2015) and 9...

  14. Credit risk management in banks

    OpenAIRE

    Pětníková, Tereza

    2014-01-01

    The subject of this diploma thesis is managing credit risk in banks, as the most significant risk faced by banks. The aim of this work is to define the basic techniques, tools and methods that are used by banks to manage credit risk. The first part of this work focuses on defining these procedures and describes the entire process of credit risk management, from the definition of credit risk, describing credit strategy and policy, organizational structure, defining the most used credit risk mi...

  15. Review of Technical Studies in the United States in Support of Burnup Credit Regulatory Guidance

    International Nuclear Information System (INIS)

    Wagner, John C.; Parks, Cecil V.; Mueller, Don; Gauld, Ian C.

    2010-01-01

    Taking credit for the reduction in reactivity associated with fuel depletion can enable more cost-effective, higher-density storage, transport, disposal, and reprocessing of spent nuclear fuel (SNF) while maintaining sufficient subcritical margin to establish an adequate safety basis. Consequently, there continues to be considerable interest in the United States (U.S.), as well as internationally, in the increased use of burnup credit in SNF operations, particularly related to storage, transport, and disposal of commercial SNF. This interest has motivated numerous technical studies related to the application of burnup credit, both domestically and internationally, as well as the design of SNF storage, transport and disposal systems that rely on burnup credit for maintaining subcriticality. Responding to industry requests and needs, the U.S. Nuclear Regulatory Commission (NRC) initiated a burnup credit research program in 1999, with support from the Oak Ridge National Laboratory (ORNL), to develop regulatory guidance and the supporting technical bases for allowing and expanding the use of burnup credit in pressurized-water reactor SNF storage and transport applications. Although this NRC research program has not been continuous since its inception, considerable progress has been achieved in many key areas in terms of increased understanding of relevant phenomena and issues, availability of relevant information and data, and subsequently updated regulatory guidance for expanded use of burnup credit. This paper reviews technical studies performed by ORNL for the U.S. NRC burnup credit research program. Examples of topics include reactivity effects associated with reactor operating characteristics, fuel assembly characteristics, burnable absorbers, control rods, spatial burnup distributions, cooling time, and assembly misloading; methods and data for validation of isotopic composition predictions; methods and data for validation of criticality calculations; and

  16. Sex of respondent and credit attitudes as predictors of credit card use and debt payment.

    Science.gov (United States)

    McCall, Michael; Eckrich, Donald W

    2006-06-01

    Researchers have suggested there may be sex differences in attitudes towards credit card possession and use. Undergraduates, 41 men and 41 women, completed a survey regarding their attitudes towards credit, credit card use, and repayment. Analysis indicated sex played a significant moderating role between number of credit cards used and the importance of paying off monthly balances. Women possessed more credit cards than men and engaged in more frequent shopping. Number of credit cards increased with paying off of monthly balances. Data are discussed in terms of the importance of managing credit card debt in an increasingly cashless society.

  17. Consumer Handbook to Credit Protection Laws.

    Science.gov (United States)

    Board of Governors of the Federal Reserve System, Washington, DC.

    The five sections of this consumer handbook are The Cost of Credit, Applying for Credit, Credit Histories and Records, Correcting Credit Mistakes, and Complaining about Credit. Each section discusses relevant legislation: Truth in Lending, the Equal Credit Opportunity Act, and the Fair Credit Reporting Act. Topics discussed in section I include…

  18. MANAGEMENT OF CREDIT LOSSES

    Directory of Open Access Journals (Sweden)

    Natalya P. Anoshkina

    2018-06-01

    Full Text Available The paper is devoted to the problem of credit loss management topical for modern Russian science and banking practice. The bank’s lending activity is an integral and the most profitable sphere of banking activity. Banks need to take credit risks inherent in their core business and minimize their impact through the establishment of advanced risk management systems. The study, reflected in the present paper, has been conducted in order to determine approaches to the organization of credit loss management in banking. Analysis of the system of management of credit risks and credit losses has shown that they have different scope, object and purpose. In this connection, there is an objective necessity to create a special subsystem for the management of credit losses in banks. On the basis of common bank approaches to credit risk management, the paper develops models of credit loss management: a multi-level management model in the area of ‘operational-tactical-strategic management’ and a functional management model in the area of ‘technology-execution-control’. These models are important for the modern theory and practice of banking, as they allow the bank to manage credit losses on the entire time horizon of the management process, thus opening a wide range of opportunities for the creation and implementation of large-scale programs, as well as specific techniques. This study allows drawing a conclusion about the need to consider control credit losses as a strictly regulated multi-level process, in which each division is assigned with specific objectives, tasks, functions, formally enshrined in the relevant lists, job descriptions and other legal documents.

  19. Non-conventional fuel tax credit

    International Nuclear Information System (INIS)

    Soeoet, P.M.

    1988-01-01

    Coal-seam methane, along with certain other non-conventional fuels, is eligible for a tax credit. This production tax credit allowed coal-seam methane producers to receive $0.7526 per million Btu of gas sold during 1986. In 1987, this credit rose to $0.78 per million Btu. The tax credit is a very significant element of the economic analysis of current coal-seam methane projects. In today's spot market, gas prices are around $1.50 per million Btu. Allowing for costs of production, the gas producer will net more income from the tax credit than from the sale of the gas. The Crude Oil Windfall Profit Tax Act of 1980 is the source of this tax credit. There were some minor changes made by subsequent legislation, but most of the tax credit has remained intact. Wells must be drilled by 1990 to qualify for the tax credit but the production from such wells is eligible for the tax credit until 2001. Projections have been made, showing that the tax credit should increase to $0.91 per million Btu for production in 1990 and $1.34 per million Btu in 2000. Variables which may decrease the tax credit from these projections are dramatically lower oil prices or general economic price deflation

  20. Credit Management System

    Data.gov (United States)

    US Agency for International Development — Credit Management System. Outsourced Internet-based application. CMS stores and processes data related to USAID credit programs. The system provides information...

  1. Integrative environmental governance: enhancing governance in the era of synergies

    NARCIS (Netherlands)

    Visseren-Hamakers, I.J.

    2015-01-01

    The issue of regime complexity in global environmental governance is widely recognized. The academic debate on regime fragmentation has itself however been rather fragmented, with discussions circling around different concepts, including inter-organizational relations, polycentric governance,

  2. 13 CFR 121.511 - What is the size standard for buying Government-owned petroleum?

    Science.gov (United States)

    2010-01-01

    ... buying Government-owned petroleum? 121.511 Section 121.511 Business Credit and Assistance SMALL BUSINESS... Government-owned petroleum? A concern is small for this purpose if it is primarily engaged in petroleum refining and meets the size standard for a petroleum refining business. ...

  3. Assessment of Energy Credits in LEED-Certified Buildings Based on Certification Levels and Project Ownership

    Directory of Open Access Journals (Sweden)

    Asli Pelin Gurgun

    2018-02-01

    Full Text Available Compared to other categories, the Energy and Atmosphere category contributes the most to the maximum obtainable points in the Leadership in Energy and Environmental Design (LEED certification system. The objective of the study was to identify the extent to which project teams take advantage of the credits in the Energy and Atmosphere category of LEED. This study analyzes the performance of practitioners in achieving points in the Energy and Atmosphere credits of LEED-New Construction (NC 2009 for 1500 buildings that received LEED certification in the US. For a better understanding of the credit patterns, the differences in the performance of practitioners are investigated relative to certification levels and project ownership. Achievement in credits is calculated in terms of percent of maximum points (PMP, since the maximum achievable points differ for each credit. Practitioners’ achievements in the credits were ranked as follows: (1 enhanced commissioning, (2 optimized energy performance, (3 enhanced refrigerant management, (4 green power, (5 measurement and verification, and (6 on-site renewable energy. The largest achievement differences were observed in the on-site renewable energy credit. Concerning building ownership, investors were found to optimize mostly energy efficiency and on-site renewable energy, but to mostly skip enhanced refrigerant management. Performance in the measurement and verification credit was similar for all owner types, whereas investors performed differently from corporations, and government agencies in the enhanced commissioning credit. Practitioners who recognize these priorities and differences are expected to be better positioned to make sustainability-related decisions in building design and construction.

  4. An overview of genetically modified crop governance, issues and challenges in Malaysia.

    Science.gov (United States)

    Andrew, Johnny; Ismail, Normaz Wana; Djama, Marcel

    2018-01-01

    The application of agricultural biotechnology attracts the interest of many stakeholders. Genetically modified (GM) crops, for example, have been rapidly increasing in production for the last 20 years. Despite their known benefits, GM crops also pose many concerns not only to human and animal health but also to the environment. Malaysia, in general, allows the use of GM technology applications but it has to come with precautionary and safety measures consistent with the international obligations and domestic legal frameworks. This paper provides an overview of GM crop technology from international and national context and explores the governance and issues surrounding this technology application in Malaysia. Basically, GM research activities in Malaysia are still at an early stage of research and development and most of the GM crops approved for release are limited for food, feed and processing purposes. Even though Malaysia has not planted any GM crops commercially, actions toward such a direction seem promising. Several issues concerning GM crops as discussed in this paper will become more complex as the number of GM crops and varieties commercialised globally increase and Malaysia starts to plant GM crops. © 2017 Society of Chemical Industry. © 2017 Society of Chemical Industry.

  5. Comparison of analysis methods for burnup credit applications

    International Nuclear Information System (INIS)

    Sanders, T.L.; Brady, M.C.; Renier, J.P.; Parks, C.V.

    1989-01-01

    The current approach used for the development and certification of spent fuel storage and transport casks requires an assumption of fresh fuel isotopics in the criticality safety analysis. However, it has been shown that there is a considerable reactivity reduction when the isotopics representative of the depleted (or burned) fuel are used in a criticality analysis. Thus, by taking credit for the burned state of the fuel (i.e., burnup credit), a cask designer could achieve a significant increase in payload. Accurate prediction of k eff for spent fuel arrays depends both on the criticality safety analysis and the prediction of the spent fuel isotopics via a depletion analysis. Spent fuel isotopics can be obtained from detailed multidimensional reactor analyses, e.g. the code PDQ, or from point reactor burnup models. These reactor calculations will help verify the adequacy of the isotopics and determine Δk eff biases for various analysis assumptions (with and without fission products, actinide absorbers, burnable poison rods, etc.). New software developed to interface PDQ multidimensional isotopics with KENO V.a reactor and cask models is described. Analyses similar to those performed for the reactor cases are carried out with a representative burnup credit cask model using the North Anna fuel. This paper presents the analysis methodology that has been developed for evaluating the physics issues associated with burnup credit. It is applicable in the validation and characterization of fuel isotopics as well as in determining the influence of various analysis assumptions in terms of δk eff . The methodology is used in the calculation of reactor restart criticals and analysis of a typical burnup credit cask

  6. Credit Union Headquarters

    Data.gov (United States)

    Department of Homeland Security — The National Credit Union Administration (NCUA) is the independent federal agency that charters and supervises federal credit unions. NCUA, backed of the full faith...

  7. Implementation of burnup credit in spent fuel management systems. Proceedings of a technical committee meeting

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2001-08-01

    The purpose of this Technical Committee Meeting was to explore the status of international activities related to the use of burnup credit for spent fuel applications. This was the second major meeting on the issues of burnup credit for spent fuel management systems held since the IAEA began to monitor the uses of burnup credit in spent fuel management systems in 1997. Burnup credit for wet and dry storage systems is needed in many Member States to allow for increased initial fuel enrichment, and to increase the storage capacity and thus to avoid the need for extensive modifications of the spent fuel management systems involved. This document contains 31 individual papers presented at the Meeting; each of the papers was indexed separately.

  8. Implementation of burnup credit in spent fuel management systems. Proceedings of a technical committee meeting

    International Nuclear Information System (INIS)

    2001-08-01

    The purpose of this Technical Committee Meeting was to explore the status of international activities related to the use of burnup credit for spent fuel applications. This was the second major meeting on the issues of burnup credit for spent fuel management systems held since the IAEA began to monitor the uses of burnup credit in spent fuel management systems in 1997. Burnup credit for wet and dry storage systems is needed in many Member States to allow for increased initial fuel enrichment, and to increase the storage capacity and thus to avoid the need for extensive modifications of the spent fuel management systems involved. This document contains 31 individual papers presented at the Meeting; each of the papers was indexed separately

  9. Using Cutting-Edge Tree-Based Stochastic Models to Predict Credit Risk

    Directory of Open Access Journals (Sweden)

    Khaled Halteh

    2018-05-01

    Full Text Available Credit risk is a critical issue that affects banks and companies on a global scale. Possessing the ability to accurately predict the level of credit risk has the potential to help the lender and borrower. This is achieved by alleviating the number of loans provided to borrowers with poor financial health, thereby reducing the number of failed businesses, and, in effect, preventing economies from collapsing. This paper uses state-of-the-art stochastic models, namely: Decision trees, random forests, and stochastic gradient boosting to add to the current literature on credit-risk modelling. The Australian mining industry has been selected to test our methodology. Mining in Australia generates around $138 billion annually, making up more than half of the total goods and services. This paper uses publicly-available financial data from 750 risky and not risky Australian mining companies as variables in our models. Our results indicate that stochastic gradient boosting was the superior model at correctly classifying the good and bad credit-rated companies within the mining sector. Our model showed that ‘Property, Plant, & Equipment (PPE turnover’, ‘Invested Capital Turnover’, and ‘Price over Earnings Ratio (PER’ were the variables with the best explanatory power pertaining to predicting credit risk in the Australian mining sector.

  10. Should the joint provision of credit insurance with unsecured lending be prohibited? An examination of the UK payment protection insurance market

    OpenAIRE

    John Ashton; Robert S. Hudson

    2011-01-01

    This study examines whether the recent UK regulatory decision to introduce a blanket ban on the joint provision of consumer lending and credit insurance was justified. This case has wide regulatory implications following international concerns that the sale of credit insurance has been detrimental to customers due to overpriced credit insurance and a possible cross subsidy from credit insurance to unsecured lending. To explore this issue a theoretical model is developed considering why a cros...

  11. Extending Marketplace Tax Credits Would Make Coverage More Affordable for Middle-Income Adults.

    Science.gov (United States)

    Liu, Jodi; Eiber, Christine

    2017-07-01

    ISSUE: Affordability of health coverage is a growing challenge for Americans facing rising premiums, deductibles, and copayments. The Affordable Care Act's tax credits make marketplace insurance more affordable for eligible lower-income individuals. However, individuals lose tax credits when their income exceeds 400 percent of the federal poverty level, creating a steep cliff. GOALS: To analyze the effects of extending eligibility for tax credits to individuals with incomes above 400 percent of the federal poverty level. METHODS: We used RAND's COMPARE microsimulation model to examine changes in insurance coverage and health care spending. KEY FINDINGS AND CONCLUSIONS: Extending tax-credit eligibility increases insurance enrollment by 1.2 million, at a total federal cost of $6.0 billion. Those who would benefit from the tax-credit extension are mostly middle-income adults ages 50 to 64. These new enrollees would be healthier than current enrollees their age, which would improve the risk pool and lower premiums. Eliminating the cliff at 400 percent of the federal poverty level is one policy option that may be considered to increase affordability of insurance.

  12. Credit risk transfer

    OpenAIRE

    Bank for International Settlements

    2003-01-01

    Executive summary Techniques for transferring credit risk, such as financial guarantees and credit insurance, have been a long-standing feature of financial markets. In the past few years, however, the range of credit risk transfer (CRT) instruments and the circumstances in which they are used have widened considerably. A number of factors have contributed to this growth, including: greater focus by banks and other financial institutions on risk management; a more rigorous approach to risk/re...

  13. Dynamic Virtual Credit Card Numbers

    Science.gov (United States)

    Molloy, Ian; Li, Jiangtao; Li, Ninghui

    Theft of stored credit card information is an increasing threat to e-commerce. We propose a dynamic virtual credit card number scheme that reduces the damage caused by stolen credit card numbers. A user can use an existing credit card account to generate multiple virtual credit card numbers that are either usable for a single transaction or are tied with a particular merchant. We call the scheme dynamic because the virtual credit card numbers can be generated without online contact with the credit card issuers. These numbers can be processed without changing any of the infrastructure currently in place; the only changes will be at the end points, namely, the card users and the card issuers. We analyze the security requirements for dynamic virtual credit card numbers, discuss the design space, propose a scheme using HMAC, and prove its security under the assumption the underlying function is a PRF.

  14. Linking Housing and School Integration Policy: What Federal, State and Local Governments Can Do. Issue Brief No. 5

    Science.gov (United States)

    Tegeler, Philip

    2015-01-01

    This Issue Brief states that, in spite of the obvious "reciprocal relationship" between housing and school policy, government housing and education agencies have rarely collaborated to promote the common goals of racial and economic integration. Recent efforts to promote collaboration among housing and school agencies have focused on…

  15. Impact of Credit Restructuring on the Quality of Bank Asset Portfolio. A Cluster Analysis Approach

    Directory of Open Access Journals (Sweden)

    Nicolae Dardac

    2011-06-01

    Full Text Available In this paper we proposed an analysis of the financial crisis impact on the procedures formanagement of loan portfolios in several banking systems. Despite ample liquidity injectionprograms implemented by major central banks and government actions, credit risk remains a keychallenge of the current banking systems. On a medium term, the high percentage of bad loans hasbecome a structural vulnerability. To maintain an acceptable quality of loan portfolios and not todamage the prudential and profitability indicators, credit institutions in EU member states haveproceeded to apply various techniques for credit restructuring. The quantitative analysis carried out inthe last part of the paper revealed a relatively moderate granularity of banking systems considered, interms of capitalization, volume of bank reserves and net provisions, in response to the persistent trendof loan portfolio deterioration.

  16. 12 CFR 561.12 - Consumer credit.

    Science.gov (United States)

    2010-01-01

    ...; loans in the nature of overdraft protection; and credit extended in connection with credit cards. ... 12 Banks and Banking 5 2010-01-01 2010-01-01 false Consumer credit. 561.12 Section 561.12 Banks... AFFECTING ALL SAVINGS ASSOCIATIONS § 561.12 Consumer credit. The term consumer credit means credit extended...

  17. THE CREDIT AND CREDIT RISK MANAGEMENT DURING THE CRISIS

    Directory of Open Access Journals (Sweden)

    Chitan Gheorghe

    2012-03-01

    Full Text Available Considering the importance of credit risk management to ensure the financial system stability,the paper presents financial and real sector interaction highlighting that credit growth based on increase of creditdemand, of income, of assets prices, of currency availability, the interest rate differential between countries andrelaxation of regulatory framework, leaves banks more vulnerable to subsequent downturn in economic activity andasset prices. It also outlines the steps taken or those I think that should be implemented in terms of improving creditrisk management, implementation of regulatory measures to limit credit expansion, enforcing the regulatoryrequirements for covering the expected and unexpected losses, introduction of new surveillance tools aimed to leadto a more resilient financial system.

  18. Papers of a Canadian Institute conference on successfully managing counter party credit risk : fundamentals and essentials for the energy industry

    International Nuclear Information System (INIS)

    2003-01-01

    The main focus of this conference is the management of credit risk for major energy trading and marketing companies. The papers deal with pertinent issues such as the development and implementation of corporate credit risk management policy, credit risk exposure reporting systems, and the quality of ratings in the utility sector. Risk management strategies include quantitative and subjective credit factors, credit scoring, risk mitigation, limit-setting methodologies, measurement of liquidity, capital markets access, portfolio management, and the development of policies, procedures and control. Three presentations were indexed separately for inclusion in the database. refs., tabs., figs

  19. Papers of a Canadian Institute conference on successfully managing counter party credit risk : fundamentals and essentials for the energy industry

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2003-07-01

    The main focus of this conference is the management of credit risk for major energy trading and marketing companies. The papers deal with pertinent issues such as the development and implementation of corporate credit risk management policy, credit risk exposure reporting systems, and the quality of ratings in the utility sector. Risk management strategies include quantitative and subjective credit factors, credit scoring, risk mitigation, limit-setting methodologies, measurement of liquidity, capital markets access, portfolio management, and the development of policies, procedures and control. Three presentations were indexed separately for inclusion in the database. refs., tabs., figs.

  20. Determinants of SME credit worthiness under Basel rules: the value of credit history information

    Directory of Open Access Journals (Sweden)

    Francesco Dainelli

    2013-03-01

    Full Text Available The Basel III Accord has reportedly had an impact on SME financing. In this paper, we aim to highlight the determinants of SME credit worthiness. We use credit history in addition to financial ratios and “hybrid” indicators that have been built by mixing credit history with financial statement data. We develop a failure prediction logit model on 187 Italian SMEs. The use of short-term credit lines is the most important variable. Contrary to common understanding, capitalization levels do not affect ratings. Lastly, credit worthiness is sensitive to sale profitability.

  1. Environmental audits: Tax, accounting and disclosure issues

    International Nuclear Information System (INIS)

    MacKnight, R.

    1991-01-01

    An overview is presented of the financial and legal issues associated with environmental audits, with an emphasis on tax issues. Accelerated depreciation write-offs are provided for qualified pollution control equipment, and may also qualify for tax credits. The Accounting Standards Committee recommends that provision should be made for future removal and site restoration costs and net of expected recoveries, in a rational and systematic manner by charges to income. Under the Federal Income Tax Act (ITA), future reclamation and shutdown costs will only be deductible if they pass three hurdles: a liability which requires the expenditure of funds in the future may not necessarily be an expense; if the liability can be viewed as an expense, is it incurred for the purpose of gaining or producing income; and is a deduction prohibited because it is on account of capital. A proposed solution to these problems is to adopt the US model that allows the deduction of estimated costs of reclaiming land that is disturbed during the current year at mines and waste disposal sites. Tax treatment of compliance costs, securities law disclosure, proposed federal government policies, proposed regulatory measures, and proposed fiscal measures are discussed

  2. 13 CFR 107.250 - Exclusion of stock options issued by Licensee from Management Expenses.

    Science.gov (United States)

    2010-01-01

    ... Sbic § 107.250 Exclusion of stock options issued by Licensee from Management Expenses. Stock options... 13 Business Credit and Assistance 1 2010-01-01 2010-01-01 false Exclusion of stock options issued by Licensee from Management Expenses. 107.250 Section 107.250 Business Credit and Assistance SMALL...

  3. Credit Card Quiz.

    Science.gov (United States)

    Marks, Jeff

    2000-01-01

    Describes an activity in which students design credit cards and discover for themselves the mathematical realities of buying on credit. Employs multiple-intelligence theory to increase the chance that all students will be reached. (YDS)

  4. Credit derivatives and risk management

    OpenAIRE

    Michael S. Gibson

    2007-01-01

    The striking growth of credit derivatives suggests that market participants find them to be useful tools for risk management. I illustrate the value of credit derivatives with three examples. A commercial bank can use credit derivatives to manage the risk of its loan portfolio. An investment bank can use credit derivatives to manage the risks it incurs when underwriting securities. An investor, such as an insurance company, asset manager, or hedge fund, can use credit derivatives to align its...

  5. Latinos in the Credit Economy

    OpenAIRE

    Ralph, Lisa M.

    2010-01-01

    Access to consumer credit as a means of building wealth is one of the least examined forms of social inequality. The recent economic crisis in the United States has brought attention to the significance of consumer credit in our nation's economy; however, less understood are the specific obstacles and barriers that prevent low-income individuals from reaching the "American Dream." In an exploratory manner, this study compared credit access, credit literacy, and credit experience of low-income...

  6. Quality of urban forest carbon credits

    Science.gov (United States)

    Neelam C. Poudyala; Jacek P. Siry; J.M. Bowker

    2011-01-01

    While the urban forest is considered an eligible source of carbon offset credits, little is known about its market potential and the quality aspects of the credits. As credit suppliers increase in number and credit buyers become more interested in purchasing carbon credits, it is unclear whether and how urban forest carbon credits can perform relative to the other...

  7. Saving and credit cooperatives in Mexico

    Directory of Open Access Journals (Sweden)

    Martha E. Izquierdo Muciño

    2015-11-01

    Full Text Available The Saving service and Credit Popular (Cajas de Ahorro y Credito Popular first appeared in Mexico in 1951 at the initiative of the priest Pedro Velazquez, similar to the popular savings banks that existed in Canada, which had been founded by Alphonse Desjardins in the early XX century.These savings service (Cajas de Ahorro were developing successfully in almost all Mexican communities, most of them remained faithful to the principles and ordinances of the church that gave rise to them, without the government participate in this activity and without policies encouraging or regulatory actions. It was not until 1991 when the General Law of Organizations and Auxiliary Credit Activities (Ley General de Organizaciones y Actividades was enacted. However in 2000 they began to emerge problems arising from fraudulent activities by some people taking advantage of loopholes established irregular saving services. Consequently and in order to solve these problems was changing the law. The last of the fraud occurred with the popular financial called FICREA (2015, to which was amended regulatory law again and while thus sought to avoid another fraud, who really was affected is a large amount very poor indigenous and peasants.Received: 03.06.2015Accepted: 17.07.2015

  8. Boundedly rational credit cycles

    OpenAIRE

    Sáez, María

    1996-01-01

    We propose an evolutionary model of a credit market. We show that the economy exhibits credit cycles. The model predicts dynamics which are consistent with some evidence about the Great Depression. Real shocks trigger episodes of credit--crunch which are observed in the process of adjustment towards the post shock equilibrium.

  9. Statistical credit risk assessment model of small and very small enterprises for Lithuanian credit unions

    OpenAIRE

    Špicas, Renatas

    2017-01-01

    While functioning in accordance with the new, business and efficiency-oriented operating model, credit unions develop and begin functioning outside the community. It is universally recognised in scientific literature that as credit unions expand their activities beyond a community, social relations with credit union members weaken and the credit unions lose their social control element, which help them to better assess and manage information asymmetry and credit risk. So far, the analysis of ...

  10. Transferability of Postsecondary Credit Following Student Transfer or Coenrollment. Statistical Analysis Report. NCES 2014-163

    Science.gov (United States)

    Simone, Sean Anthony

    2014-01-01

    The federal government invests billions of dollars in grants and loans to help students access and complete postsecondary education. Federal policymakers, therefore, have had a continuing interest in understanding the ability of students to transfer credits between postsecondary institutions. In 2005, the Senate Health, Education, Labor, and…

  11. Simultaneous Optimization of Road Tolls and Tradable Credits in Public-private Mixed Networks

    Directory of Open Access Journals (Sweden)

    Nan Jiang

    2017-12-01

    Full Text Available This paper investigates a hybrid management policy of road tolls and tradable credits in mixed road networks with both public and private roads. In the public sub-network, a tradable credit scheme is applied to mitigate traffic congestion. In the private sub-network, tolls are collected by the private company, but the toll levels and toll locations are determined by the government. The purpose of toll charge is two-fold: on the one hand, the government uses it as a tool for mitigating congestion; on the other hand, a threshold of revenue should be guaranteed for the profitability of the private company. A bi-level programming model is formulated to minimize the total travel time in the network by taking into account the user equilibrium travel behaviour and the revenue requirement of private firms. To obtain a  global optimum solution, the bi-level model is transformed into an equivalent single-level mixed integer linear program that can be easily solved with commercial software. Numerical examples are provided to demonstrate the effectiveness of the developed model and the efficiency of the proposed algorithm. It is shown that the mixed management schemes can achieve favourable targets, namely, joint implementation of road tolls and tradable credits can effectively mitigate traffic congestion and meanwhile maintain reasonable revenue for the private company.

  12. Models of Credit Risk Measurement

    OpenAIRE

    Hagiu Alina

    2011-01-01

    Credit risk is defined as that risk of financial loss caused by failure by the counterparty. According to statistics, for financial institutions, credit risk is much important than market risk, reduced diversification of the credit risk is the main cause of bank failures. Just recently, the banking industry began to measure credit risk in the context of a portfolio along with the development of risk management started with models value at risk (VAR). Once measured, credit risk can be diversif...

  13. MAJOR TRENDS OF THE INTERNAL AUDIT FUNCTION IN CREDIT INSTITUTIONS

    OpenAIRE

    Clara Iulia ZINCA (VOICULESCU)

    2017-01-01

    Given that the economic landscape becomes more and more complex and dynamic, the internal audit plays an increasing role, being considered a pillar of the corporate governance structure of credit institutions. Failures of risk management have demonstrated the important role of internal audit and the need for it to evolve and to meet the multiple expectations of the stakeholders. Beyond the core assurance provided by internal audit relating to risk and controls, these expectations include p...

  14. Transition issues in an unbundled residential market

    International Nuclear Information System (INIS)

    Brett, J.D.

    1996-01-01

    Aspects of an unbundled residential gas market were discussed, among them (1) the role of a local distribution company (LDC), (2) the context and the issues, (3) the customers'needs and desires, (4) long term planning responsibility, (5) consumer protection and dealing with abuses, (6) the obligation to serve, (7) the bad credit risk customer, (8) billing, credit and collection, and (9) metering and CIS

  15. 49 CFR 536.4 - Credits.

    Science.gov (United States)

    2010-10-01

    ... OF TRANSPORTATION TRANSFER AND TRADING OF FUEL ECONOMY CREDITS § 536.4 Credits. (a) Type and vintage... category, and model year of origin (vintage). (b) Application of credits. All credits earned and applied are calculated, per 49 U.S.C. 32903(c), in tenths of a mile per gallon by which the average fuel...

  16. Credit Market Information Feedback

    OpenAIRE

    Balasubramanyan, Lakshmi; Craig, Ben R.; Thomson, James B.; Zaman, Saeed

    2015-01-01

    We examine how a combination of credit market and asset quality information can jointly be used in assessing bank franchise value. We find that expectations of future credit demand and future asset quality explain contemporaneous bank franchise value, indicative of the feedback in credit market information and its consequent impact on bank franchise value.

  17. Past experience and future needs for the use of burnup credit in LWR fuel storage

    International Nuclear Information System (INIS)

    Boyd, W.A.; Wrights, G.N.

    1987-01-01

    To achieve improved fuel economics and reduce the amount of fuel discharged annually, utilities are engaging in fuel management strategies that will achieve higher discharge burnups for their fuel assemblies. Although burnup credit methodologies have been developed and spent-fuel racks have been licensed, burnup credit fuel storage racks are not the answer for all utilities. Off-site and out-of-pool spent-fuel storage may be more appropriate. This is leading to the development of dry spent-fuel storage and shipping casks. Cask designs with spent-fuel storage capability between 20 and 32 assemblies are being developed by several vendors. The US Dept. of Energy is also funding work by VEPCO. Westinghouse is currently licensing its dry storage cask, developing a shipping cask for the domestic market, and is involved in a joint venture to develop a cask for the international market. Although methods of taking credit for fuel burnup in spent-fuel storage racks have been developed and licensed, use of these methods on dry spent-fuel storage and shipping casks can lead to new issues. These issues arise because the excess reactivity margin that is inherent in a burnup credit spent-fuel storage rack criticality analysis will not be available in a dry cask analysis

  18. The Tax-Credit Scholarship Audit: Do Publicly Funded Private School Choice Programs Save Money?

    Science.gov (United States)

    Lueken, Martin F.

    2016-01-01

    This report follows up on previous work that examined the fiscal effects of private school voucher programs. It estimates the total fiscal effects of tax-credit scholarship programs--another type of private school choice program--on state governments, state and local taxpayers, and school districts combined. Based on a range of assumptions, these…

  19. Educational Alliances, Property Rights and Trust: Issues of Transaction Costs in the Transfer of Credit.

    Science.gov (United States)

    Girton, Kathryn M.

    Using transaction-cost economics as a theoretical lens, this paper analyzes educational alliances, which are agreements between educational organizations, such as those between 2-year and 4-year colleges. Transaction costs are those costs associated with the movement of course-credit hours across different institutional environments. The report…

  20. The two-child limit for Universal Credit and Child Tax Credit

    OpenAIRE

    MACHIN, Richard

    2017-01-01

    Richard Machin explores the background to, and likely impact of, the two-child limit on the child element in Universal Credit and the Child Tax Credit, which was introduced by the Welfare Reform and Work Act 2016

  1. Toward a New Paradigm: Governance in a Broader Framework.

    Science.gov (United States)

    Deegan, William L.

    1985-01-01

    Argues that the issues and trends of the past decade make it necessary to reconsider governance processes and the way substantive issues are generated. Reviews major models for governance and proposes a broader, more integrated framework for analyzing governance issues. (DMM)

  2. Credit Hours with No Set Time: A Study of Credit Policies in Asynchronous Online Education

    Science.gov (United States)

    Prasuhn, Frederick Carl

    2014-01-01

    U.S. public university system policies were examined to learn how credit hours were determined for asynchronous online education. Findings indicated that (a) credit hour meaning and use are not consistent, (b) primary responsibility for credit hour decisions was at the local level, and (c) no policies exist to guide credit hour application for…

  3. Self governance and band policy issues

    International Nuclear Information System (INIS)

    Twinn, C.M.; Henderson, M.J.; Thomas, K.A.

    1998-01-01

    Prior to the colonization of North America, First Nations were self-governing sovereign nations, with their own traditions, history and culture. While it is not correct to speak of First Nations in general, it is correct to say that all First Nations have the common experience of dispossession from their lands and displacement of their traditional governments. The various treaties over the centuries, but most particularly the recognition and entrenchment of aboriginal and treaty rights in the Constitution of 1982 are steps towards rectifying the wrongs suffered by First Nations during colonial times. The recognition of aboriginal treaty rights has resulted in a significant shift in Canadian law and politics as First Nations are increasingly asserting greater jurisdiction over their lands and resources. This paper presents a historical perspective of the Indian Act Governmental System and discusses recent developments in native land claim settlements and the importance for industry and First Nations to establish a relationship based on trust. The Nisga'a settlement is used as an example of the increased autonomy of First Nations. Once ratified, the Nisga'a will have ownership of forestry and subsurface resources. The province will retain full ownership and regulatory authority over water. 19 refs

  4. Mechanism Analysis of Credit Risk Conduction of Goverment Departments under Public-PrivatePartnership%公私合作下政府部门信用风险传导机理分析

    Institute of Scientific and Technical Information of China (English)

    任志涛; 雷瑞波

    2017-01-01

    以风险共担、利益共享的理念剖析公私合作的内生机理,从系统视域构建公私合作下的政府部门信用风险的传导模型,揭示公私合作下政府部门信用风险的传导机理.研究表明公私合作模式所具有的信用风险内部化特征,促使政府部门信用风险沿着微分动力系统的演变轨迹进行传导,系统均衡状态的均衡点就是信用风险在政府和社会资本之间最优的配置点.在上述基础上,设计公私合作模式下政府部门信用风险管控机制.%This paper analyzes the endogenous mechanism of public-private partnerships based on the concept of risk sharing and benefit sharing. Then,constructs the conduction model of credit risk of government departments under public-private partnership from the point of view of system,andreveals the conduction mechanism of credit risk of government departments under public-private partnership. Research shows that the characteristics of internal credit risk model of public-private partnership promote the government credit risk to conduct along the evolution track of a differential dynamic system,the equilibrium point of system equilibrium state is the optimal allocation point of credit risk between government and social capital. On this basis,designs the credit risk control mechanism of government departments under public-private partnership.

  5. 41 CFR 301-71.214 - Does mandatory use of the Government contractor-issued travel charge card change the employee's...

    Science.gov (United States)

    2010-07-01

    ... the Government contractor-issued travel charge card change the employee's obligation to pay his/her travel card bill by the due date? 301-71.214 Section 301-71.214 Public Contracts and Property Management Federal Travel Regulation System TEMPORARY DUTY (TDY) TRAVEL ALLOWANCES AGENCY RESPONSIBILITIES 71-AGENCY...

  6. Credit Cards. Bulletin No. 721. (Revised.)

    Science.gov (United States)

    Fox, Linda Kirk

    This cooperative extension bulletin provides basic information about credit cards and their use. It covers the following topics: types of credit cards (revolving credit, travel and entertainment, and debit); factors to consider when evaluating a credit card (interest rates, grace period, and annual membership fee); other credit card costs (late…

  7. 7 CFR 4280.139 - Credit quality.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 15 2010-01-01 2010-01-01 false Credit quality. 4280.139 Section 4280.139 Agriculture... Improvements Program Section B. Guaranteed Loans § 4280.139 Credit quality. The lender must determine credit quality and must address all of the elements of credit quality in a written credit analysis, including...

  8. Inequality in Human Capital and Endogenous Credit Constraints.

    Science.gov (United States)

    Hai, Rong; Heckman, James J

    2017-04-01

    This paper investigates the determinants of inequality in human capital with an emphasis on the role of the credit constraints. We develop and estimate a model in which individuals face uninsured human capital risks and invest in education, acquire work experience, accumulate assets and smooth consumption. Agents can borrow from the private lending market and from government student loan programs. The private market credit limit is explicitly derived by extending the natural borrowing limit of Aiyagari (1994) to incorporate endogenous labor supply, human capital accumulation, psychic costs of working, and age. We quantify the effects of cognitive ability, noncognitive ability, parental education, and parental wealth on educational attainment, wages, and consumption. We conduct counterfactual experiments with respect to tuition subsidies and enhanced student loan limits and evaluate their effects on educational attainment and inequality. We compare the performance of our model with an influential ad hoc model in the literature with education-specific fixed loan limits. We find evidence of substantial life cycle credit constraints that affect human capital accumulation and inequality. The constrained fall into two groups: those who are permanently poor over their lifetimes and a group of well-endowed individuals with rising high levels of acquired skills who are constrained early in their life cycles. Equalizing cognitive and noncognitive ability has dramatic effects on inequality. Equalizing parental backgrounds has much weaker effects. Tuition costs have weak effects on inequality.

  9. Internet Governance amp Cyber Crimes In UAE

    Directory of Open Access Journals (Sweden)

    Ayesha Al Neyadi

    2015-08-01

    Full Text Available Abstract Most people in UAE dont feel safe while they are use the Internet because most internet users have been a victim for cyber crime. Cyber crime threat rate has increased which has targeted on citizen privacy property and governments also the reputation problems. There are many criminal activities such as indecent acts Copyright issues Terrorist Acts State security and Contempt of religion. Cyber crimes due to several reasons such as they have lack of social intelligence they are being greedy and not being content also some of them have financial troubles these reasons usually exploited by criminals. Thus the decree will be a punishment or criminalizes formally on any person who using any kind of information technology and any others private life to blackmail or to threaten others online. In addition at the present time with the most detailed new cybercrime law that can be used to prove found guilty. As well the author discusses that the new cyber-crime law provides protection of personal information including banking information credit cards and electronic payment information.

  10. LEGISLATIVE STUDY ON THE GOVERNMENT REGULATION ON SOME ECONOMIC RECOVERY MEASURES

    Directory of Open Access Journals (Sweden)

    BOSTAN Ionel

    2014-06-01

    Full Text Available This paper addresses the most significant elements related to the direct enactment by the executive authority – following the most difficult moments of the financial crisis (2009-2010 – of some key measures in determining the economic recovery/growth. Special attention is given to the problem of growth strengthening and sustainable competitiveness of small and medium enterprises, as well as to the issue of stimulating the set up and development of micro enterprises by junior entrepreneurs. Considering things from the legal perspective, we also stop upon the legislative measures taken by the Government to support SME access to financial guarantees and credits. Obviously, in the context following the peak of the financial crisis, we took into consideration the regulation on stimulating the development of new jobs and the regime of state aids, as well. This latter issue includes, we believe, the most important references to State aid schemes on stimulating the investments with a major impact in the economy, the ‘de minimis’ aid for the investments made by small and medium-sized enterprises, and also to the issues arising from the implementation of a State aid scheme to support the investments which promote the regional development by creating jobs.

  11. Value of credit bureau reports

    Directory of Open Access Journals (Sweden)

    Brković Milan

    2017-01-01

    Full Text Available An efficient system of credit information sharing contributes to solving the problem of information asymmetry on the credit and financial markets in general. The consequences of the global economic and financial crisis revealed an increasing demand for reliable information and data which could close the existing gap in their insufficiency, misuse or inadequate analytical value for the economic and financial policy makers. In that sense, more attention is directed to the usefulness of credit information sharing and the practical value of information and data contained in credit bureau reports for the purposes of achieving the overall economic policy goals. The fulfillment of that role depends mostly on the credit information sharing system and its characteristics, participants, and procedures. A credit bureau report in the best possible manner reflects all advantages and disadvantages of the established credit information exchange system in terms of its analytical value for the purposes of efficient macroeconomic and macrofinancial policies.

  12. 12 CFR 703.6 - Credit analysis.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Credit analysis. 703.6 Section 703.6 Banks and... ACTIVITIES § 703.6 Credit analysis. A Federal credit union must conduct and document a credit analysis on an... Federal Deposit Insurance Corporation. A Federal credit union must update this analysis at least annually...

  13. Governance of Arctic Offshore Oil & Gas Activities: Multilevel Governance & Legal Pluralism at Stake

    DEFF Research Database (Denmark)

    Pelaudeix, Cecile

    2015-01-01

    This article analyses the governance process of offshore oil and gas activities in the Arctic with the concept of multilevelgovernance and legal pluralism to address both issues of management of the environment and public participation. The analysis goes beyond the single issue of fragmentation p...... and from regional government, indigenous shareholders and corporation perspectives, could be helpful in providing relevant actors with arguments to weigh the decision on seismic and drilling activities in relation to risk acceptance.......This article analyses the governance process of offshore oil and gas activities in the Arctic with the concept of multilevelgovernance and legal pluralism to address both issues of management of the environment and public participation. The analysis goes beyond the single issue of fragmentation...... pertaining to the international and supranational levels, to encompass national and regional levels and evaluate how the interactions between those levels structure the policy process and impact the efficiency of environmental management and public participation. Four paths of reflection arise from...

  14. Trust and Credit

    DEFF Research Database (Denmark)

    Harste, Gorm

    The present paper is an answer to the question, how did trust and credit emerge. The systems of trust and credit reduce the environmental and contextual complexities in which trust and credit are embedded. The paper analyses the forms of this reduction in a number of stages in the evolution...... of history from the present risk of modern systems back to early modernity, the Reformation and the high medieval Revolutions in law, organization and theology. It is not a history of economics, but a history of the conditions of some communication codes used in economic systems....

  15. Credit Risk Modeling

    DEFF Research Database (Denmark)

    Lando, David

    Credit risk is today one of the most intensely studied topics in quantitative finance. This book provides an introduction and overview for readers who seek an up-to-date reference to the central problems of the field and to the tools currently used to analyze them. The book is aimed at researchers...... and students in finance, at quantitative analysts in banks and other financial institutions, and at regulators interested in the modeling aspects of credit risk. David Lando considers the two broad approaches to credit risk analysis: that based on classical option pricing models on the one hand...

  16. Organizing by covenant : the organization of transitional labor markets : paper IREC Conference 2004 'Governance issues in shifting industrial and employment relations' Utrecht, The Netherlands, August 26-28, 2004 : session potential and limits of national level socio-economic governance

    NARCIS (Netherlands)

    Korver, T.; Oeij, P.R.A.

    2004-01-01

    From 26-28 August 2004 in Utrecht the Industrial Relations in Europe Conference (IREC) was held on governance issues in shifting industrial and employment relations. As part of the session 'potential and limits of national level socio-economic governance' this paper about the organization of

  17. The Fiscal Impact of Tax-Credit Scholarships in Oklahoma. School Choice Issues in the State

    Science.gov (United States)

    Gottlob, Brian

    2009-01-01

    This analysis examines the demographics of the special needs population in public and private schools in Oklahoma and estimates the impact on school enrollments providing tax credit funded scholarship grants for special needs students. The author and his colleagues develop a model that shows how the expenditures of Oklahoma's school districts vary…

  18. An economic growth model based on financial credits distribution to the government economy priority sectors of each regency in Indonesia using hierarchical Bayesian method

    Science.gov (United States)

    Yasmirullah, Septia Devi Prihastuti; Iriawan, Nur; Sipayung, Feronika Rosalinda

    2017-11-01

    The success of regional economic establishment could be measured by economic growth. Since the Act No. 32 of 2004 has been implemented, unbalance economic among the regency in Indonesia is increasing. This condition is contrary different with the government goal to build society welfare through the economic activity development in each region. This research aims to examine economic growth through the distribution of bank credits to each Indonesia's regency. The data analyzed in this research is hierarchically structured data which follow normal distribution in first level. Two modeling approaches are employed in this research, a global-one level Bayesian approach and two-level hierarchical Bayesian approach. The result shows that hierarchical Bayesian has succeeded to demonstrate a better estimation than a global-one level Bayesian. It proves that the different economic growth in each province is significantly influenced by the variations of micro level characteristics in each province. These variations are significantly affected by cities and province characteristics in second level.

  19. Documentary Credit Transfer and Other Financing from What Can Match as Product of Credit

    Directory of Open Access Journals (Sweden)

    Libardo Quintero Salazar

    2016-12-01

    Full Text Available When a contract of international sale of goods is mediated by a form of payment as the documentary credit, exporters that initially lack financial resources to produce or obtain merchandise that then will be delivered to the importer, look as first natural possibility of financing the transfer for the documentary credit. Now not always the credit can be transferable in accordance with the Uniform Customs and Practice for Documentary Credits (UCP – because, for example, the importer or the financial entity do not want it in that way. Given the above scenario, this article aims to provide solutions, explaining legal alternatives for the exporter that is not in the UCP-, to use the money that might correspond as a result of the documentary credit, to finance the production or acquisition of goods against other traders, and then reselling them to the importer. It concludes that the exporter can achieve such immediate funding - similar to what encourage the transfer of documentary credit - using to their relations with the supplier, figures as the assignment of a future credit, banker’s acceptance and contract terms.

  20. Municipal Solid Waste Management in Latin America and the Caribbean: Issues and Potential Solutions from the Governance Perspective

    Directory of Open Access Journals (Sweden)

    Hiroshan Hettiarachchi

    2018-05-01

    Full Text Available Municipal Solid Waste (MSW management is an essential service for an urban population to maintain sanitation. Managing MSW is complex as the treatment/recovery options depend not only on the volume of waste, but also on the socioeconomic conditions of the population. This paper focusses on MSW management in the Latin American and Caribbean (LAC countries. Dominance of uncontrolled disposal options of MSW in the region, such as open dumps, has an adverse influence on health and sanitation. Interest in source separation practices and recycling is low in the LAC region. Furthermore, economic matters such as poor financial planning and ineffective billing systems also hinder service sustainability. Rapid urbanization is another characteristic feature in the region. The large urban centres that accommodate over 80% of the region’s population pose their own challenges to MSW management. However, the same large volume of MSW generated can become a steady supply of resources, if recovery options are prioritized. Governance is one aspect that binds many activities and stakeholders involved in MSW management. This manuscript describes how we may look at MSW management in LAC from the governance perspective. The issues, as well as the best potential solutions, are both described within three categories of governance: bureaucratic, market, and network. The governance perspective can assist by explaining which stakeholders are involved and who should be responsible for what. Financial issues are the major setbacks observed in the bureaucratic governance institutions that can be reversed with better billing strategies. MSW is still not seen by the private sector as a place to make investments, perhaps due to the negative social attitude associated with waste. The market governance aspects may help increase the efficiency and profitability of the MSW market. Private sector initiatives such as cost-effective microenterprises should be encouraged and the

  1. Credit Risk Evaluation Using a C-Variable Least Squares Support Vector Classification Model

    Science.gov (United States)

    Yu, Lean; Wang, Shouyang; Lai, K. K.

    Credit risk evaluation is one of the most important issues in financial risk management. In this paper, a C-variable least squares support vector classification (C-VLSSVC) model is proposed for credit risk analysis. The main idea of this model is based on the prior knowledge that different classes may have different importance for modeling and more weights should be given to those classes with more importance. The C-VLSSVC model can be constructed by a simple modification of the regularization parameter in LSSVC, whereby more weights are given to the lease squares classification errors with important classes than the lease squares classification errors with unimportant classes while keeping the regularized terms in its original form. For illustration purpose, a real-world credit dataset is used to test the effectiveness of the C-VLSSVC model.

  2. Limitation of Liability and Governing Law for Accidents Occurring before Issuance of Bill of Lading

    Directory of Open Access Journals (Sweden)

    Jung Sun Lee

    2018-03-01

    Full Text Available The purpose of this study is to verify the carrier's liability limitation through analyzing two cases. According to the court judgments in the two cases, if the accident occurs during the shipment without issuance of Bill of Lading (B/L, the reverse-side clause of B/L does not apply to the calculation of damage, and the law of the country most closely related to both parties is set as the governing law. The absence of a timely B/L often occurs in transport practice due to the complicated nature of transport practice. So, through analyzing the court judgments in the two cases, this study recommends that transport parties take precautions. First, in order to reduce and settle disputes arising from the absence of evidence of transportation contracts, it is necessary to issue a received B/L bearing in mind the risk of accidents occurring during the shipment process. Second, the use of a Sea Waybill (SWB which can be issued after the receipt of a cargo shipment, can be an alternative, except when a Letter of Credit (L/C requires a B/L. Finally, expanding the function of the Commercial Invoice (C/I to allow it to serve as evidence of the contract of carriage by inserting the contract of carriage phrase into the C/I when the B/L is not issued could be an alternative. Keywords: Limitation of Liability of Carrier, Governing Law, Bill of Lading

  3. Modern bank's credit risk

    Directory of Open Access Journals (Sweden)

    Šabović Šerif

    2015-01-01

    Full Text Available Credit risk is the most important risk banks have to face with. It occurs due to an obligation created because of debtors' capital and interest rate nonpayment. Debtors obligations non-fulfilment may lead to great losses and insolvency in bank's business. Credit risk is the crucial reason of bank's insolvency. Over 80% of bank's balance sheet is exposed to credit risk.

  4. Inventory and Credit Decisions under Day-Terms Credit Linked Demand and Allowance for Bad Debts

    Directory of Open Access Journals (Sweden)

    K. K. Aggarwal

    2014-01-01

    Full Text Available In order to stimulate demand of their product, firms generally give credit period to their customers. However, selling on credit exposes the firms to the additional dimension of bad debts expense (i.e., customer’s default. Moreover, credit period through its influence on demand becomes a determinant of inventory decisions and inventory sold on credit gets converted to accounts receivable indicating the interaction between the two. Since inventory and credit decisions are interrelated, inventory decisions must be determined jointly with credit decisions. Consequently, in this paper, a mathematical model is developed to determine inventory and credit decisions jointly. The demand rate is assumed to be a logistic function of credit period. The accounts receivable carrying cost along with an explicit consideration of bad debt expense which have been often ignored in previous models are incorporated in the present model. The discounted cash flow approach (DCF is used to develop the model and the objective is to maximize the present value of the firm’s net profit per unit time. Finally, numerical example and sensitivity analysis have been done to illustrate the effectiveness of the proposed model.

  5. Hungary : Corporate Governance Country Assessment

    OpenAIRE

    World Bank

    2003-01-01

    This report assesses the corporate governance policy framework and enforcement and compliance practices in Hungary. Hungary has already invested considerable resources in upgrading its legislation to meet European Union Directives, and the legislative and regulatory framework dealing with corporate governance issues is robust. The major issues identified by this review include: (1) the gen...

  6. An audit of local government planning tools for their potential use in addressing community food and nutrition issues.

    Science.gov (United States)

    Good, Elizabeth; Hammond, Melinda; Martin, Caroline; Burns, Catherine; Groos, Anita

    2010-04-01

    This project aimed to identify how local government planning tools could be used to influence physical and policy environments to support healthy eating behaviours in communities. An audit of Queensland's legislative and non-legislative local government planning tools was conducted by a public health nutritionist to assess their potential use in addressing strategies to achieve positive nutrition outcomes. Ten strategies were identified and covered the following themes: improving access to healthy foods and drinks; increasing access to breastfeeding facilities; decreasing fast food outlet density; and unhealthy food advertising. The audit found that all of the 10 strategies to achieve positive nutrition outcomes could be considered through three or more of the planning tools. Based on the findings of this audit, local government planning tools provide opportunities to address food and nutrition issues and contribute toward creating physical and policy environments that support healthy eating behaviours.

  7. Credit Card Debt Hardship Letter Samples

    OpenAIRE

    lissa coffey

    2016-01-01

    Having trouble with your credit card debt? Below you will find examples of hardship letters. There are several things to consider when writing a credit card hardship letter. A hardship letter is the first step to letting the credit card company know that things are bad. This free credit card hardship letter sample is only a guide in order to start the negotiation. Credit card debt hardship letter example, hardship letter to credit card. If you are having trouble paying off your debt and need ...

  8. Social micro-credit and gender

    Directory of Open Access Journals (Sweden)

    Dora Argentina Cabezas Elizondo

    2008-03-01

    Full Text Available The social policy has been oriented to support of the population in extreme poverty; From the speech, doesn't exist differences between men and women. However, In the development of the social spending, the social policy has been undermined by the gender stigma; That is, when the social policy has been guide to support women. This does not having the purpose of to develop the gender. From more than fifteen years, the organisations insisted on that the authorities not only support the women projects that only are a extension of domestic work, but they continues support only this projects.The purpose of this paper is to analyze the behavior of microcredit and its role in public and social policy, to support micro entrepreneurs women. In this contribution we give ourselves to the task of finding the behavior of this public policy in the state of Colima. Where the government instruments of social and economic policy, designed to provide support according to the genre, will be analyzed. During the period of 2000-2003, the orientation of these and their impact in terms of self-employment and elimination of poverty.We try social credit schemes as an instrument of the federal government to solve the problem of unemployment and increasing poverty, through the implementation of programs that promote self-employment.We will be discussed the experience of these financing schemes in the second level of government, which is the state, based on the analysis of micro loans during the period 2000-2003 in Colima, Mexico.

  9. Credit cues and impression management: a preliminary attempt to explain the credit card effect.

    Science.gov (United States)

    McCall, Michael; Trombetta, Jessica; Gipe, Aimee

    2004-08-01

    Prior research had suggested that individuals would estimate higher product values and even tip more in the presence of credit cues. In the absence of a clear theoretical interpretation of this credit card effect we propose that this tendency is an impression management strategy such that credit cue exposure influences perceptions of the self and focuses attention on individual wealth. Thus, in the presence of others, credit cues serve to enhance images of the self. Preliminary data in support of this alternative theoretical perspective are presented.

  10. Effects of expiration of the Federal energy tax credit on the National Photovoltaics Program

    Science.gov (United States)

    Smith, J. L.

    1984-01-01

    Projected 1986 sales are significantly reduced as a direct result of system price increases following from expiration of the Federal energy tax credits. There would be greatly reduced emphasis on domestic electric utility applications. Indirect effects arising from unrealized economies of scale and reduced private investment in PV research and development (R&D) and in production facilities could have a very large cumulative adverse impact on the U.S. PV industry. The industry forecasts as much as fourfold reduction in 1990 sales if tax credits expire, compared with what sales would be with the credits. Because the National Photovoltaics Program is explicitly structured as a government partnership, large changes in the motivation or funding of either partner can affect Program success profoundly. Reduced industry participation implies that such industry tasks as industrialization and new product development would slow or halt. Those research areas receiving heavy R&D support from private PV manufacturers would be adversely affected.

  11. 41 CFR 301-75.201 - May we allow the interviewee to use individual Government contractor-issued charge cards for pre...

    Science.gov (United States)

    2010-07-01

    ... interviewee to use individual Government contractor-issued charge cards for pre-employment interview travel? 301-75.201 Section 301-75.201 Public Contracts and Property Management Federal Travel Regulation System TEMPORARY DUTY (TDY) TRAVEL ALLOWANCES AGENCY RESPONSIBILITIES 75-PRE-EMPLOYMENT INTERVIEW TRAVEL...

  12. Permit trading and credit trading

    DEFF Research Database (Denmark)

    Boom, Jan-Tjeerd; R. Dijstra, Bouwe

    This paper compares emissions trading based on a cap on total emissions (permit trading) and on relative standards per unit of output (credit trading). Two types of market structure are considered: perfect competition and Cournot oligopoly. We find that output, abatement costs and the number...... of firms are higher under credit trading. Allowing trade between permit-trading and credit-trading sectors may increase in welfare. With perfect competition, permit trading always leads to higher welfare than credit trading. With imperfect competition, credit trading may outperform permit trading....... Environmental policy can lead to exit, but also to entry of firms. Entry and exit have a profound impact on the performance of the schemes, especially under imperfect competition. We find that it may be impossible to implement certain levels of total industry emissions. Under credit trading several levels...

  13. Overrated credit risk: three essays on credit risk in turbulent times

    NARCIS (Netherlands)

    Bongaerts, D.G.J.

    2010-01-01

    Credit markets have shown a dramatic development at the start of the 21st century. Increased regulatory pressure on financial institutions has spurred the development of innovative products that allow for transfer of credit risk. These developments lay at the base of the largest financial crisis

  14. The Impact of Financial Development on the Relationship between Trade Credit, Bank Credit and Firm Characteristics

    OpenAIRE

    Jézabel Couppey-Soubeyran; Jérôme Héricourt

    2013-01-01

    Using a database of more than 1,300 firms from six countries in the MENA region, we study the impact of financial development on the relationship between trade credit on the one hand and bank credit access and firm-level characteristics, especially financial health, on the other hand. Trade credit use increases with the difficulty for gaining access to bank credit, and indicators of the quality of the firm's financial structure negatively influence the use of trade credit. Additional investig...

  15. The Fiscal Impact of Tax-Credit Scholarships in Montana. School Choice Issues in the State

    Science.gov (United States)

    Gottlob, Brian

    2009-01-01

    Many states have enacted or are considering proposals to give tax credits for contributions that provide tuition scholarships for students in K-12 schools to attend the private or public schools of their choice. This study seeks to inform the public and policymakers about the implications for Montana if the state were to enact such a program. The…

  16. Global health justice and governance.

    Science.gov (United States)

    Ruger, Jennifer Prah

    2012-01-01

    While there is a growing body of work on moral issues and global governance in the fields of global justice and international relations, little work has connected principles of global health justice with those of global health governance for a theory of global health. Such a theory would enable analysis and evaluation of the current global health system and would ethically and empirically ground proposals for reforming it to more closely align with moral values. Global health governance has been framed as an issue of national security, human security, human rights, and global public goods. The global health governance literature is essentially untethered to a theorized framework to illuminate or evaluate governance. This article ties global health justice and ethics to principles for governing the global health realm, developing a theoretical framework for global and domestic institutions and actors.

  17. ANALIZA INTERACȚIUNII INDICATORILOR MONETARI ȘI DE CREDIT ÎN ECONOMIA REPUBLICII MOLDOVA

    Directory of Open Access Journals (Sweden)

    Tudor SULA

    2017-08-01

    Full Text Available În scopul eficientizării activității sistemului de credit și activizării creditării investiționale a sectorului real al econo­miei Republicii Moldova, în baza datelor statistice a fost efectuată analiza dinamicii și structurii masei monetare, inclu­siv a interacțiunii indicatorilor monetari și de credit, precum și a factorilor care influențează asupra evoluției indicatorilor monetari și de credit pe parcursul perioadei 2005-2016. Astfel, pentru eficientizarea activității sistemului de credit al Republicii Moldova la etapa actuală este necesară promovarea unei politici monetare bazate pe corelarea și ajustarea indicatorilor macroeconomici, monetari și de credit; pentru atingerea obiectivelor politicii monetare, sunt necesare noi abordări și practici internaționale, inclusiv cele recomandate de organizațiile financiare internaționale privind îmbunătă­țirea supravegherii prudențiale; Banca Națională a Moldovei urmează să efectueze o conlucrare mai eficientă cu Guvernul Republicii Moldova pentru asigurarea suficientă cu resurse investiționale a necesităților sectorului real al economiei.ANALYSIS OF THE INTERACTION BETWEEN THE MONETARY AND CREDITING INDICATORS IN MOLDOVA'S ECONOMYIn order to streamline the activity of the credit system and activate the investment crediting of the real sector of the economy of the Republic of Moldova, on the basis of statistical data, there was performed an analysis of the dynamics and the structure of money supply, including the analysis of the interaction between the monetary and crediting indicators, as well as of factors influencing on the evolution of monetary and crediting indicators during the period 2005-2016. Thus, in order to streamline the activity of the credit system of the Republic of Moldova at present, it is necessary to promote a monetary policy based on the correlation and adjustment of the macroeconomic, monetary and credit indicators; to achieve the

  18. The "Negative" Credit Card Effect: Credit Cards as Spending-Limiting Stimuli in New Zealand

    Science.gov (United States)

    Lie, Celia; Hunt, Maree; Peters, Heather L.; Veliu, Bahrie; Harper, David

    2010-01-01

    The "credit card effect" describes a finding where greater value is given to consumer items if credit card logos are present. One explanation for the effect is that credit cards elicit spending behavior through associative learning. If this is true, social, economic and historical contexts should alter this effect. In Experiment 1, Year…

  19. Renewable energies. Ambivalences, governance, legal issues; Erneuerbare Energien. Ambivalenzen, Governance, Rechtsfragen

    Energy Technology Data Exchange (ETDEWEB)

    Ekardt, Felix; Hennig, Bettina; Unnerstall, Herwig (eds.)

    2012-07-01

    The present publication is dedicated to renewable energies. The move to a new energy and climate policy impinges on many central humanistic issues (including issues of a legal, economic, sociological, ethical and politological nature). How is it possible to resolve the ambivalences that are associated with the use of renewable energies and which draw our attention not only to renewable energies as such but also to issues of energy efficiency and sufficiency. What political and economic instruments are needed in order to accelerate the market entry of renewable energies and at the same time contain the ambivalences associated with them? And what questions of legal interpretation result from the application of such instruments in practice, be it in the context of subsidies under the Renewable Energy Law or the laws on the planning of building projects. And where lie the causes of the fact seen here that so many individuals in business, the political realm and the public at large are finding it hard to go with the transition to renewable energies?.

  20. Are information disclosure mandates effective? Evidence from the credit card market

    OpenAIRE

    Elizondo, Alan; Seira, Enrique

    2014-01-01

    Consumer protection in financial markets in the form of information disclosure is high on governments agendas, despite the fact that the empirical evidence on its effectiveness is scarce. To measure the impact of Truth-in-Lending-Act-type disclosures on default and indebtedness, as well as of debiasing warning messages and social comparison information, we implement a randomized control trial in the credit card market for a large population of indebted cardholders. We find that providing sali...

  1. 13 CFR 115.18 - Refusal to issue further guarantees; suspension and termination of PSB status.

    Science.gov (United States)

    2010-01-01

    ... 13 Business Credit and Assistance 1 2010-01-01 2010-01-01 false Refusal to issue further guarantees; suspension and termination of PSB status. 115.18 Section 115.18 Business Credit and Assistance SMALL BUSINESS ADMINISTRATION SURETY BOND GUARANTEE Provisions for All Surety Bond Guarantees § 115.18 Refusal to issue further guarantees; suspension...

  2. Intertemporal consumption and credit constraints

    DEFF Research Database (Denmark)

    Leth-Petersen, Søren

    2010-01-01

    There is continuing controversy over the importance of credit constraints. This paper investigates whether total household expenditure and debt is affected by an exogenous increase in access to credit provided by a credit market reform that enabled Danish house owners to use housing equity...

  3. Dynamic Diversification in Corporate Credit

    DEFF Research Database (Denmark)

    Christoffersen, Peter; Jacobs, Kris; Jin, Xisong

    We characterize diversification in corporate credit using a new class of dynamic copula models which can capture dynamic dependence and asymmetry in large samples of firms. We also document important differences between credit spread and equity return dependence dynamics. Modeling a decade...... the crisis and remain high as well. The most important shocks to credit dependence occur in August of 2007 and in August of 2011, but interestingly these dates are not associated with significant changes to median credit spreads....

  4. 12 CFR 615.5172 - Production credit association and agricultural credit association investment in farmers' notes...

    Science.gov (United States)

    2010-01-01

    ... credit association investment in farmers' notes given to cooperatives and dealers. 615.5172 Section 615....5172 Production credit association and agricultural credit association investment in farmers' notes... farmers and ranchers eligible to borrow from such associations. (b) Such notes and other obligations...

  5. Burnup credit in Spain

    International Nuclear Information System (INIS)

    Conde, J.M.; Recio, M.

    2001-01-01

    The status of development of burnup credit for criticality safety analyses in Spain is described in this paper. Ongoing activities in the country in this field, both national and international, are resumed. Burnup credit is currently being applied to wet storage of PWR fuel, and credit to integral burnable absorbers is given for BWR fuel storage. It is envisaged to apply burnup credit techniques to the new generation of transport casks now in the design phase. The analysis methodologies submitted for the analyses of PWR and BWR fuel wet storage are outlined. Analytical activities in the country are described, as well as international collaborations in this field. Perspectives for future research and development of new applications are finally resumed. (author)

  6. Limited take-up of health coverage tax credits: a challenge to future tax credit design.

    Science.gov (United States)

    Dorn, Stan; Varon, Janet; Pervez, Fouad

    2005-10-01

    The Trade Act of 2002 created federal tax credits to subsidize health coverage for certain early retirees and workers displaced by international trade. Though small, this program offers the opportunity to learn how to design future tax credits for larger groups of uninsured. During September 2004, the most recent month for which there are data about all forms of Trade Act credits, roughly 22 percent of eligible individuals received credits. The authors find that health insurance tax credits are more likely to reach their target populations if such credits: 1) limit premium costs for the low-income uninsured and do not require full premium payments while applications are pending; 2) provide access to coverage that beneficiaries value, including care for preexisting conditions; 3) are combined with outreach that uses easily understandable, multilingual materials and proactive enrollment efforts; and 4) feature a simple application process involving one form filed with one agency.

  7. THE ACTIVITIES PERMITTED TO CREDIT INSTITUTIONS. PROMISSORY NOTES: TITLE CREDIT UNDER PRIVATE SIGNATURE

    Directory of Open Access Journals (Sweden)

    Mariana Rodica ȚÎRLEA

    2014-11-01

    Full Text Available The promissory note represents credit title under private signature, which is regulated by the Law no.58 / 1934 on bills of exchange and promissory notes, subsequently amended by Law no. 83/1994. The promissory note is a cashless payment instrument that takes the form of a printed double sided, on which is labeled information according to the regulations of NBR. Promissory notes issued by the NBR Printing and are approved by Department of Payment and Settlement Bank. In practice, the promissory note is used as cashless payment instrument which necessarily contains the name of the payer and the payee, and it represents unconditional order to pay a specified amount at a certain place at a precise date. The promissory note represents the solution to fluidize commercial transactions.

  8. 12 CFR 614.4125 - Funding and discount relationships between Farm Credit Banks or agricultural credit banks and...

    Science.gov (United States)

    2010-01-01

    ..., Risk Management, Farm Credit System Insurance Corporation. (f) A direct lender association shall... Administration office that the Chief Examiner designates, and the Director, Risk Management, Farm Credit System... Credit Banks or agricultural credit banks and direct lender associations. 614.4125 Section 614.4125 Banks...

  9. Follow Up: Credit Card Caution

    Science.gov (United States)

    Cahill, Timothy P.

    2007-01-01

    In "Pushing Plastic," ("The New England Journal of Higher Education", Summer 2007), John Humphrey notes that many college administrators justify their credit card solicitations by suggesting that credit card access will help students learn to manage their own finances. Instead, credit card debt will teach thousands of students…

  10. 49 CFR 260.13 - Credit reform.

    Science.gov (United States)

    2010-10-01

    ... appropriations, direct payment of a Credit Risk Premium by the Applicant or a non-Federal infrastructure partner... 49 Transportation 4 2010-10-01 2010-10-01 false Credit reform. 260.13 Section 260.13... REHABILITATION AND IMPROVEMENT FINANCING PROGRAM Overview § 260.13 Credit reform. The Federal Credit Reform Act...

  11. 76 FR 79531 - Corporate Credit Unions

    Science.gov (United States)

    2011-12-22

    ... exclude CLF stock subscriptions, based on the asset's negligible credit risk and to facilitate corporate... removing paragraphs (c)(3) and (f)(4) and adding paragraph (h) to read as follows: Sec. 704.6 Credit risk... NATIONAL CREDIT UNION ADMINISTRATION 12 CFR Part 704 RIN 3133-AD95 Corporate Credit Unions AGENCY...

  12. Your Credit Rights: An Instructional Unit on Consumer Credit Protection. Revised.

    Science.gov (United States)

    Jensen, Barbara J.; And Others

    This instructional guide adds two new sections to the original guide published in May 1982. The guide was designed to assist educators in teaching the topics of consumer credit and consumer credit protection to secondary and postsecondary students in various economics and business courses, as well as in adult and community education courses. The…

  13. 12 CFR 614.4720 - Letters of credit.

    Science.gov (United States)

    2010-01-01

    ... Banks and Banking FARM CREDIT ADMINISTRATION FARM CREDIT SYSTEM LOAN POLICIES AND OPERATIONS Banks for Cooperatives and Agricultural Credit Banks Financing International Trade § 614.4720 Letters of credit. Banks for cooperatives and agricultural credit banks, under policies adopted by their boards of directors...

  14. Optimal replenishment and credit policy in supply chain inventory model under two levels of trade credit with time- and credit-sensitive demand involving default risk

    Science.gov (United States)

    Mahata, Puspita; Mahata, Gour Chandra; Kumar De, Sujit

    2018-03-01

    Traditional supply chain inventory modes with trade credit usually only assumed that the up-stream suppliers offered the down-stream retailers a fixed credit period. However, in practice the retailers will also provide a credit period to customers to promote the market competition. In this paper, we formulate an optimal supply chain inventory model under two levels of trade credit policy with default risk consideration. Here, the demand is assumed to be credit-sensitive and increasing function of time. The major objective is to determine the retailer's optimal credit period and cycle time such that the total profit per unit time is maximized. The existence and uniqueness of the optimal solution to the presented model are examined, and an easy method is also shown to find the optimal inventory policies of the considered problem. Finally, numerical examples and sensitive analysis are presented to illustrate the developed model and to provide some managerial insights.

  15. Effects of Economic Liberalization on the Flow of Commercial Banks Credit to Farmers in Rivers State, Nigeria

    Directory of Open Access Journals (Sweden)

    Allison-Oguru, EA.

    2000-01-01

    Full Text Available This study focuses on assessment of the effect of government's economic liberalization policy on the flow of commercial banks credit to farmers in Rivers State. The empirical analyses are based on information obtained from a sample of 25 out of the over 30 commercial banks operating in the State. Results from the analyses indicate that despite the deregulation of interest rates associated with economic liberalization, commercial banks in the State are unable to meet one-half of the loan requests of farmers. The flow of loanable funds can therefore not be said to have been enhanced by interest rates deregulation. It is argued that simply re-moving restrictions on interest rates is not a sufficient condition for enhanced flow of commercial bank credit to farmers in the State. Such a policy must be complemented with programmes of sharing initial risks and administrative costs between government and the private sector.

  16. Who Gets the Credit? Who Pays the Consequences? The Illinois Tuition Tax Credit. Special Report.

    Science.gov (United States)

    Pathak, Arohi; Keenan, Nancy

    In 1999, Illinois enacted a tuition tax credit program. Tax credit supporters suggest tax credits help low-income students. However, opponents argue that they disproportionately benefit higher-income families whose children are already attending private schools and may decrease already limited resources available to public schools. New data from…

  17. Forecasting the value of credit scoring

    Science.gov (United States)

    Saad, Shakila; Ahmad, Noryati; Jaffar, Maheran Mohd

    2017-08-01

    Nowadays, credit scoring system plays an important role in banking sector. This process is important in assessing the creditworthiness of customers requesting credit from banks or other financial institutions. Usually, the credit scoring is used when customers send the application for credit facilities. Based on the score from credit scoring, bank will be able to segregate the "good" clients from "bad" clients. However, in most cases the score is useful at that specific time only and cannot be used to forecast the credit worthiness of the same applicant after that. Hence, bank will not know if "good" clients will always be good all the time or "bad" clients may become "good" clients after certain time. To fill up the gap, this study proposes an equation to forecast the credit scoring of the potential borrowers at a certain time by using the historical score related to the assumption. The Mean Absolute Percentage Error (MAPE) is used to measure the accuracy of the forecast scoring. Result shows the forecast scoring is highly accurate as compared to actual credit scoring.

  18. Environmental governance as inclusion and exclusion of actors and issues

    DEFF Research Database (Denmark)

    Jørgensen, Michael Søgaard

    2016-01-01

    The chapter analyses recent governance in Denmark of the interaction between climate, energy and land use. Governance is seen as inclusion and exclusion of actors and their perspectives in decisions about problems and solutions. Inclusion and exclusion are discussed as decisions about members...... and focus of public commissions. Furthermore, inclusion and exclusion are discussed as an aspect of NGOs’ development of climate plans and the societal role of such plans. The chapter concludes that governance of this field is balancing the interests of established and polluting sectors and the interest...

  19. Who governs energy? The challenges facing global energy governance

    International Nuclear Information System (INIS)

    Florini, Ann; Sovacool, Benjamin K.

    2009-01-01

    This article conceptualizes the energy problems facing society from a global governance perspective. It argues that a notion of 'global energy governance,' taken to mean international collective action efforts undertaken to manage and distribute energy resources and provide energy services, offers a meaningful and useful framework for assessing energy-related challenges. The article begins by exploring the concepts of governance, global governance, and global energy governance. It then examines some of the existing institutions in place to establish and carry out rules and norms governing global energy problems and describes the range of institutional design options available to policymakers. It briefly traces the role of a selection of these institutions, from inter-governmental organizations to summit processes to multilateral development banks to global action networks, in responding to energy issues, and points out their strengths and weaknesses. The article concludes by analyzing how the various approaches to global governance differ in their applicability to addressing the conundrums of global energy problems.

  20. Who governs energy? The challenges facing global energy governance

    Energy Technology Data Exchange (ETDEWEB)

    Florini, Ann; Sovacool, Benjamin K. [Centre on Asia and Globalisation, Lee Kuan Yew School of Public Policy, National University of Singapore, Singapore 259772 (Singapore)

    2009-12-15

    This article conceptualizes the energy problems facing society from a global governance perspective. It argues that a notion of 'global energy governance,' taken to mean international collective action efforts undertaken to manage and distribute energy resources and provide energy services, offers a meaningful and useful framework for assessing energy-related challenges. The article begins by exploring the concepts of governance, global governance, and global energy governance. It then examines some of the existing institutions in place to establish and carry out rules and norms governing global energy problems and describes the range of institutional design options available to policymakers. It briefly traces the role of a selection of these institutions, from inter-governmental organizations to summit processes to multilateral development banks to global action networks, in responding to energy issues, and points out their strengths and weaknesses. The article concludes by analyzing how the various approaches to global governance differ in their applicability to addressing the conundrums of global energy problems. (author)

  1. Canadian Government Electronic Information Policy.

    Science.gov (United States)

    Nilsen, Kirsti

    1993-01-01

    Examines development and evolution of Canadian government information policy in response to issues of preservation of data, information industry involvement in government data development and marketing, role of Crown copyright, and public access to government information in electronic formats. Six key information policy instruments are also…

  2. 25 CFR 542.15 - What are the minimum internal control standards for credit?

    Science.gov (United States)

    2010-04-01

    ... outside agencies, and other documents related to issued credit instruments shall be maintained. (f) Write... (or another equivalent document) that contains: (i) The same preprinted number on all copies; (ii... balances are routinely confirmed on a random basis by the accounting or internal audit departments, or...

  3. A Hybrid Data Mining Approach for Credit Card Usage Behavior Analysis

    Science.gov (United States)

    Tsai, Chieh-Yuan

    Credit card is one of the most popular e-payment approaches in current online e-commerce. To consolidate valuable customers, card issuers invest a lot of money to maintain good relationship with their customers. Although several efforts have been done in studying card usage motivation, few researches emphasize on credit card usage behavior analysis when time periods change from t to t+1. To address this issue, an integrated data mining approach is proposed in this paper. First, the customer profile and their transaction data at time period t are retrieved from databases. Second, a LabelSOM neural network groups customers into segments and identify critical characteristics for each group. Third, a fuzzy decision tree algorithm is used to construct usage behavior rules of interesting customer groups. Finally, these rules are used to analysis the behavior changes between time periods t and t+1. An implementation case using a practical credit card database provided by a commercial bank in Taiwan is illustrated to show the benefits of the proposed framework.

  4. CREDIT Performance Indicator Framework

    DEFF Research Database (Denmark)

    Frandsen, Anne Kathrine; Bertelsen, Niels Haldor; Haugbølle, Kim

    2010-01-01

    During the past two years the Nordic Baltic research project CREDIT (Construction and Real Estate – Developing Indicators for Transparency) has worked with the aim to improve transparency of value creation in building and real estate. One of the central deliverables of the CREDIT project was a fr......During the past two years the Nordic Baltic research project CREDIT (Construction and Real Estate – Developing Indicators for Transparency) has worked with the aim to improve transparency of value creation in building and real estate. One of the central deliverables of the CREDIT project...... was a framework of indicators relevant in building and real estate and applicable in the Nordic and Baltic countries as well as a proposal for a set of key indicators. The study resulting in CREDIT Performance Indicator Framework has been based on 28 case studies of evaluation practises in the building and real...... estate sector each addressing three interlinked levels: building/ projects level, company or enterprise level and benchmarking system level. Additionally it has been based on dialogue with researchers and professional organisation, international research and standardisation work and national building...

  5. 12 CFR 704.6 - Credit risk management.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Credit risk management. 704.6 Section 704.6... CREDIT UNIONS § 704.6 Credit risk management. (a) Policies. A corporate credit union must operate according to a credit risk management policy that is commensurate with the investment risks and activities...

  6. A Corporate Governance Index : Convergence and Diversity of National Corporate Governance Regulations

    NARCIS (Netherlands)

    Martynova, M.; Renneboog, L.D.R.

    2010-01-01

    The issue of appropriate corporate governance framework has been a focal point of recent reforms in many countries. This study provides a comprehensive comparative analysis of corporate governance regulatory systems and their evolution over the last 15 years in 30 European countries and the US. It

  7. The Disability Tax Credit: Why it Fails and How to Fix It

    Directory of Open Access Journals (Sweden)

    Wayne Simpson

    2016-06-01

    Full Text Available When the government establishes a social program whose primary purpose is to help provide support to low-income people with disabilities, its success should be measured on how well it achieves that purpose. Unfortunately, there are reasons to seriously question the usefulness of Canada’s disability tax credit since it is helping so very few of the people it is intended to support. In fact, the credit is helping only a small number of Canadians with disability who qualify for it, and least of all those in the poorest families who receive an average of only $29 annually. The reason is not hard to see: Designing the support as a tax credit means that only those Canadians with disability who earn enough income to have them owing taxes can take advantage of it. Yet it is an unfortunate reality that people with disability are often at low incomes precisely because their disability leaves them unable to work in full-time, wellpaid jobs. Thus, the very people who need this support most are the ones least able to take advantage of it. In other words, the neediest disabled Canadians are receiving the least benefit. Far from being a successful policy, the results of the disability tax credit can only be described as disappointing. There is an uncomplicated way to begin rectifying this: By making the disability tax credit refundable. Along the same lines as a guaranteed minimum income, or negative income tax, those low-income Canadians with disabilities who qualify for the credit but lack sufficient income to benefit from the credit could simply be made eligible for a refund of the amount they cannot claim. Simply doing that, turning this non-refundable credit into a refundable credit, would increase the average benefit for Canada’s poorest families with a disabled person from $29 to $511, increasing their total income by a meaningful 4.1 per cent. Just as importantly, where a meagre 0.2 per cent of these families now get any benefit at all from the

  8. Private Sector Credit and Inflation Volatility

    Directory of Open Access Journals (Sweden)

    Lorna Katusiime

    2018-04-01

    Full Text Available This paper investigates the effect of inflation volatility on private sector credit growth. The results indicate that private sector credit growth is positively linked to the one period lagged inflation volatility. Given that past monetary policy actions continue to affect the targeted variables due to the substantial lags in the transmission mechanism, the positive response of private sector credit growth to past inflation volatility suggests a credible monetary policy regime in Uganda, which has led to a reduction in the level of macroeconomic uncertainty and the restoration of favorable economic conditions and prospects, thus increasing the demand for credit. Further, the study finds that the lagged private sector credit growth, nominal exchange rate, and inflation have a statistically significant effect on private sector credit growth while financial innovation, interest rates, and GDP growth appear not to be important determinants of private sector credit growth. The robustness of our findings is confirmed by sensitivity checks.

  9. 12 CFR 619.9145 - Farm Credit Bank.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Farm Credit Bank. 619.9145 Section 619.9145 Banks and Banking FARM CREDIT ADMINISTRATION FARM CREDIT SYSTEM DEFINITIONS § 619.9145 Farm Credit Bank. The term Farm Credit Bank refers to a bank resulting from the mandatory merger of the Federal land...

  10. The Knowledge Governance Approach

    DEFF Research Database (Denmark)

    Foss, Nicolai J.

    with diverse capabilities of handling these transactions. Various open research issues that a knowledge governance approach may illuminate are sketched. Although knowledge governance draws clear inspiration from organizational economics and `rational' organization theory, it recognizes that knowledge......An attempt is made to characterize a `knowledge governance approach' as a distinctive, emerging field that cuts across the fields of knowledge management, organisation studies, strategy and human resource management. Knowledge governance is taken up with how the deployment of administrative...

  11. Global Health Governance at a Crossroads.

    Science.gov (United States)

    Ng, Nora Y; Ruger, Jennifer Prah

    2011-06-21

    This review takes stock of the global health governance (GHG) literature. We address the transition from international health governance (IHG) to global health governance, identify major actors, and explain some challenges and successes in GHG. We analyze the framing of health as national security, human security, human rights, and global public good, and the implications of these various frames. We also establish and examine from the literature GHG's major themes and issues, which include: 1) persistent GHG problems; 2) different approaches to tackling health challenges (vertical, horizontal, and diagonal); 3) health's multisectoral connections; 4) neoliberalism and the global economy; 5) the framing of health (e.g. as a security issue, as a foreign policy issue, as a human rights issue, and as a global public good); 6) global health inequalities; 7) local and country ownership and capacity; 8) international law in GHG; and 9) research gaps in GHG. We find that decades-old challenges in GHG persist and GHG needs a new way forward. A framework called shared health governance offers promise.

  12. Government Policies for Corporate Social Responsibility in Europe

    DEFF Research Database (Denmark)

    Knudsen, Jette Steen; Moon, Jeremy; Slager, Rieneke

    This paper analyses policies of twenty two EU member governments designed to encourage corporate social responsibility (CSR) over the first decade of the century. Our paper categorizes policies for CSR into different types depending on their expected degree of regulatory strength. Secondly, whilst...... it identifies a wide range of issues to which government CSR policies are directed, it notes a tendency for these to have expanded from social affairs and employment issues, through environmental issues, to economic and trade and development issues. Thirdly, governments act as agents in their respective...... institutional structures to embed CSR concerns explicitly into these frameworks....

  13. Still the century of government savings banks? The Caixa Econômica Federal

    Directory of Open Access Journals (Sweden)

    Kurt von Mettenheim

    2006-03-01

    Full Text Available This article explores general concerns about government banking, social inclusion, and democracy through case study of the Brazilian federal government savings bank (Caixa Econômica Federal. Review of government savings banks in Brazilian history suggests that these institutions have been at the center of domestic political economy, expanding and contracting under a variety of political regimes and economic conditions. Since capitalization to meet central bank and Basel Accord guidelines in 2001, the Caixa has attempted to modernize, continue to serve as agent for government policies, and expand both popular credit and savings and investment banking activities.

  14. OECD/NEA Burnup Credit Calculational Criticality Benchmark Phase I-B Results

    International Nuclear Information System (INIS)

    DeHart, M.D.

    1993-01-01

    Burnup credit is an ongoing technical concern for many countries that operate commercial nuclear power reactors. In a multinational cooperative effort to resolve burnup credit issues, a Burnup Credit Working Group has been formed under the auspices of the Nuclear Energy Agency of the Organization for Economic Cooperation and Development. This working group has established a set of well-defined calculational benchmarks designed to study significant aspects of burnup credit computational methods. These benchmarks are intended to provide a means for the intercomparison of computer codes, methods, and data applied in spent fuel analysis. The benchmarks have been divided into multiple phases, each phase focusing on a particular feature of burnup credit analysis. This report summarizes the results and findings of the Phase I-B benchmark, which was proposed to provide a comparison of the ability of different code systems and data libraries to perform depletion analysis for the prediction of spent fuel isotopic concentrations. Results included here represent 21 different sets of calculations submitted by 16 different organizations worldwide, and are based on a limited set of nuclides determined to have the most important effect on the neutron multiplication factor of light-water-reactor spent fuel. A comparison of all sets of results demonstrates that most methods are in agreement to within 10% in the ability to estimate the spent fuel concentrations of most actinides. All methods are within 11% agreement about the average for all fission products studied. Furthermore, most deviations are less than 10%, and many are less than 5%. The exceptions are 149 Sm, 151 Sm, and 155 Gd

  15. CORRELATED ANALYSIS OF CLIENT-CREDIT COST WITH THE ONE OF SUPPLIER - CREDIT COST

    Directory of Open Access Journals (Sweden)

    MIRELA MONEA

    2012-01-01

    Full Text Available The given client-credit has associated several types of costs. If a company gives client-credit for a certain period of time, then it will have to finance its activity from other sources. Another aspect is the one related to the size of allotted sum. The sum that must be covered does not equal the turnover. The impact on financing the operating cycle is found usually only under the form of expenses which are made up of variable costs (because amortization must not be paid, the profit is included in the price. Thus, the sum which must be covered is not related to the non-cashed turnover from the client-credit, but only to variable costs. This will be the sum that must be covered from the financing sources. Supplier-credit is a source attracted, usually it has no cost.

  16. Trade credit supply, market power and the matching of trade credit terms

    NARCIS (Netherlands)

    Fabbri, D.; Klapper, L.F.

    2008-01-01

    This paper studies the decision of firms to extend trade credit to customers and its relation with their financing decisions. We use a novel firm-level database with unique information on market power in both output and input markets and on the amount, terms and payment history of trade credit

  17. An Extended Model of Knowledge Governance

    Science.gov (United States)

    Karvalics, Laszlo Z.; Dalal, Nikunj

    In current times, we are seeing the emergence of a new paradigm to describe, understand, and analyze the expanding "knowledge domain". This overarching framework - called knowledge governance - draws from and builds upon knowledge management and may be seen as a kind of meta-layer of knowledge management. The emerging knowledge governance approach deals with issues that lie at the intersection of organization and knowledge processes. Knowledge governance has two main interpretation levels in the literature: the company- (micro-) and the national (macro-) level. We propose a three-layer model instead of the previous two-layer version, adding a layer of "global" knowledge governance. Analyzing and separating the main issues in this way, we can re-formulate the focus of knowledge governance research and practice in all layers.

  18. Patching security governance : an empirical view of emergent governance mechanisms for cybersecurity

    NARCIS (Netherlands)

    van Eeten, M.J.G.

    2017-01-01

    Purpose: The issue of cybersecurity has been cast as the focal point of a fight between two conflicting governance models: the nation-state model of national security and the global governance model of multi-stakeholder collaboration, as seen in forums like IGF, IETF, ICANN, etc. There is a

  19. Commercialization of biomass energy projects: Outline for maximizing use of valuable tax credits and incentives

    International Nuclear Information System (INIS)

    Sanderson, G.A.

    1994-01-01

    The Federal Government offers a number of incentives designed specifically to promote biomass energy. These incentives include various tax credits, deductions and exemptions, as well as direct subsidy payments and grants. Additionally, equipment manufacturers and project developers may find several other tax provisions useful, including tax incentives for exporting U.S. good and engineering services, as well as incentives for the development of new technologies. This paper outlines the available incentives, and also addresses ways to coordinate the use of tax breaks with government grants and tax-free bond financing in order to maximize benefits for biomass energy projects

  20. The Fiscal Impact of a Corporate & Individual Tax Credit Scholarship Program on the State of Indiana. School Choice Issues in the State

    Science.gov (United States)

    Stuit, David

    2009-01-01

    Indiana legislators are currently debating the merits of a proposal to adopt a statewide tuition scholarship tax credit program. The proposed program would make available $5 million in tax credits that businesses and individuals could claim by making donations to non-profit Scholarship Granting Organizations (SGOs). SGO donations would be matched…

  1. Ethics in Government.

    Science.gov (United States)

    Update on Law-Related Education, 1990

    1990-01-01

    Presents a lesson developed by the Center for Civic Education giving secondary students the opportunity to explore ethical issues in government from the perspective of corrective justice. Outlines role plays and other class activities based on a fictitious ethics scandal involving bribery. Identifies specific questions to be asked on issues of…

  2. Did Globalization Influence Credit Market Deregulation

    OpenAIRE

    Eppinger, Peter; Potrafke, Niklas

    2015-01-01

    We investigate whether globalization influenced credit market deregulation over the period 1970-2010. Globalization is measured by the KOF indices of globalization. Credit market deregulation is measured by the credit market freedom indicators of the Fraser Institute. The results from both cross-sectional and panel regressions using ordinary least squares indicate a positive correlation between globalization and credit market deregulation. We account for reverse causality by using predicted t...

  3. Validation of SCALE-4 for burnup credit applications

    International Nuclear Information System (INIS)

    Bowman, S.M.; DeHart, M.D.; Parks, C.V.

    1995-01-01

    In the past, a criticality analysis of PWR fuel stored in racks and casks has assumed that the fuel is fresh with the maximum allowable initial enrichment. If credit is allowed for fuel burnup in the design of casks that are used in the transport of spent light water reactor fuel to a repository, the increase in payload can lead to a significant reduction in the cost of transport and a potential reduction in the risk to the public. A portion of the work has been performed at ORNL in support of the US DOE efforts to demonstrate a validation approach for criticality safety methods to be used in burnup credit cask design. To date, the SCALE code system developed at ORNL has been the primary computational tool used by DOE to investigate technical issues related to burnup credit. The ANSI/ANS-8.1 criticality safety standard requires validation and benchmarking of the calculational methods used in evaluating criticality safety limits for applications outside reactors by correlation against critical experiments that are applicable. Numerous critical experiments for fresh PWR-type fuel in storage and transport configurations exist and can be used as part of a validation database. However, there are no critical experiments with burned PWR-type fuel in storage and transport configurations. As an alternative, commercial reactors offer an excellent source of measured critical configurations. The results reported demonstrate the ability of the ORNL SCALE-4 methodology to predict a value of k eff very close to the known value of 1.0, both for fresh fuel criticals and for the more complex reactor criticals. Beyond these results, additional work in the determination of biases and uncertainties is necessary prior to use in burnup credit applications

  4. Invited Commentary: Using Financial Credits as Instrumental Variables for Estimating the Causal Relationship Between Income and Health.

    Science.gov (United States)

    Pega, Frank

    2016-05-01

    Social epidemiologists are interested in determining the causal relationship between income and health. Natural experiments in which individuals or groups receive income randomly or quasi-randomly from financial credits (e.g., tax credits or cash transfers) are increasingly being analyzed using instrumental variable analysis. For example, in this issue of the Journal, Hamad and Rehkopf (Am J Epidemiol. 2016;183(9):775-784) used an in-work tax credit called the Earned Income Tax Credit as an instrument to estimate the association between income and child development. However, under certain conditions, the use of financial credits as instruments could violate 2 key instrumental variable analytic assumptions. First, some financial credits may directly influence health, for example, through increasing a psychological sense of welfare security. Second, financial credits and health may have several unmeasured common causes, such as politics, other social policies, and the motivation to maximize the credit. If epidemiologists pursue such instrumental variable analyses, using the amount of an unconditional, universal credit that an individual or group has received as the instrument may produce the most conceptually convincing and generalizable evidence. However, other natural income experiments (e.g., lottery winnings) and other methods that allow better adjustment for confounding might be more promising approaches for estimating the causal relationship between income and health. © The Author 2016. Published by Oxford University Press on behalf of the Johns Hopkins Bloomberg School of Public Health. All rights reserved. For permissions, please e-mail: journals.permissions@oup.com.

  5. Credit assignment in multiple goal embodied visuomotor behavior

    Directory of Open Access Journals (Sweden)

    Constantin A Rothkopf

    2010-11-01

    Full Text Available The intrinsic complexity of the brain can lead one to set aside issues related to its relationships with the body, but the field of embodied cognition emphasizes that understanding brain function at the system level requires one to address the role of the brain-body interface. It has only recently been appreciated that this interface performs huge amounts of computation that does not have to be repeated by the brain, and thus affords the brain great simplifications in its representations. In effect the brain’s abstract states can refer to coded representations of the world created by the body.But even if the brain can communicate with the world through abstractions, the severe speed limitations in its neural circuitry mean that vast amounts of indexing must be performed during development so that appropriate behavioral responses can be rapidly accessed. One way this could happen would be if the brain used a decomposition whereby behavioral primitives could be quickly accessed and combined. This realization motivates of our study of independent sensorimotor task solvers, which we call modules, in directing behavior.The issue we focus on herein is how an embodied agent can learn such individual visuomotor modules while pursuing multiple goals. The biologically plausible standard for module programming is that of reinforcement given during exploration of the environment. However this formulation contains a substantial issue when sensorimotor modules are used in combination: The credit for their overall performance must be divided amongst them. We show that this problem can be solved and that diverse task combinations are beneficial in learning and not a complication, as usually assumed. Our simulations show that fast algorithms are available that allot credit correctly and are insensitive to measurement noise.

  6. Value of burnup credit beyond actinides

    International Nuclear Information System (INIS)

    Lancaster, D.; Fuentes, E.; Kang, Chi.

    1997-01-01

    DOE has submitted a topical report to the NRC justifying burnup credit based only on actinide isotopes (U-234, U-235, U-236, U-238, Pu-238, Pu-239, Pu-240, Pu-241, Pu-242, and Am-241). When this topical report is approved, it will allow a great deal of the commercial spent nuclear fuel to be transported in significantly higher capacity casks. A cost savings estimate for shipping fuel in 32 assembly (burnup credit) casks as opposed to 24 assembly (non-burnup credit) casks was previously presented. Since that time, more detailed calculations have been performed using the methodology presented in the Actinide-Only Burnup Credit Topical Report. Loading curves for derated casks have been generated using actinide-only burnup credit and are presented in this paper. The estimates of cost savings due to burnup credit for shipping fuel utilizing 32, 30, 28, and 24 assembly casks where only the 24 assembly cask does not burnup credit have been created and are discussed. 4 refs., 2 figs

  7. A relative risk comparison of criticality control strategies based on fresh fuel and burnup credit design bases

    International Nuclear Information System (INIS)

    Sanders, T.L.

    1988-01-01

    The proposed use of burnup credit in spent fuel cask design and operation represents a departure from current regulatory practice, and creates technical issues that ultimately must be resolved for the concept to be implemented. Issues related to specific technical considerations can generally be resolved conclusively. However, an underlying perception may still exist that the use of burnup credit compromises criticality safety. In practice, individual casks are designed to satisfy regulatory requirements in a generally conservative manner. The designer's application of the regulatory requirements involves some engineering judgement, as does the regulator's implementation of them. This does not have an adverse effect on safety, but does make it difficult to objectively compare new or alternative designs and/or operating approaches. 5 refs., 7 figs., 2 tabs

  8. Extending Foster Care to Age 21: Weighing the Costs to Government against the Benefits to Youth. Chapin Hall Issue Brief

    Science.gov (United States)

    Peters, Clark M.; Dworsky, Amy; Courtney, Mark E.; Pollack, Harold

    2009-01-01

    The Fostering Connections to Success and Increasing Adoptions Act of 2008 allows states to claim federal reimbursement for the costs of caring for and supervising Title IV-E eligible foster youth until their 21st birthday. This issue brief provides preliminary estimates of what the potential costs to government and the benefits to young people…

  9. Credit Risk Analysis of Local Government Financing Platform – An empirical study based on KMV model

    Directory of Open Access Journals (Sweden)

    Zhou Tingting

    2015-01-01

    Full Text Available The local government financing platform is set up by local government through state-owned assets, real estate and equity capital. The functions of these companies are financing, construction, operation, the repaying debts. The local government financing platform can broaden the financing channels of local government in a great extent; alleviate the pressure of capital requirement. But at the same time, with the gradual expansion of the scale of debt, a series of problems has arisen: the amount of financing platform companies is huge, debt repayment depends too much on real estate price, the integration of government administration with enterprise, capital injection, and accounts of these companies are not well exposed. Once these problems outbreak, it may cause a series of financial crises, thereby threaten the entire banking industry even the healthy development of the national economy.

  10. 12 CFR 619.9140 - Farm Credit bank(s).

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Farm Credit bank(s). 619.9140 Section 619.9140 Banks and Banking FARM CREDIT ADMINISTRATION FARM CREDIT SYSTEM DEFINITIONS § 619.9140 Farm Credit bank(s). Except as otherwise defined, the term Farm Credit bank(s) includes Farm Credit Banks...

  11. Credit Cycle and Adverse Selection Effects in Consumer Credit Markets – Evidence from the HELOC Market

    NARCIS (Netherlands)

    Calem, P.; Cannon, M.; Nakamura, L.I.

    2011-01-01

    We empirically study how the underlying riskiness of the pool of home equity line of credit originations is affected over the credit cycle. Drawing from the largest existing database of U.S. home equity lines of credit, we use county-level aggregates of these loans to estimate panel regressions on

  12. 24 CFR 206.37 - Credit standing.

    Science.gov (United States)

    2010-04-01

    ... CONVERSION MORTGAGE INSURANCE Eligibility; Endorsement Eligible Mortgagors § 206.37 Credit standing. Each mortgagor must have a general credit standing satisfactory to the Secretary. ... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Credit standing. 206.37 Section 206...

  13. Agricultural Credit Discount Fund – Agribusiness support credit line - Macedonian experience

    OpenAIRE

    Kovachev, Goran

    2012-01-01

    The main objective of this study is to emphasize the importance of creating special governmental refinancing institutions targeted towards strategic economic sectors. Such institution in Macedonia is Agricultural Credit Discount Fund, a separate unit within the Macedonian Bank for Development Promotion that administers a credit line meant to support the agribusiness. As it is commonly known agriculture is one of the most important economic sectors of the country. The ACDF's 'modus operandi' i...

  14. Examining Auditing as an Essential Element of Financial Management and Good Governance in Local Government

    Directory of Open Access Journals (Sweden)

    Sindisile Maclean

    2014-06-01

    Full Text Available The purpose of the article is to address issues of auditing in the context of financial management as a contribution to good governance. Generally, not all local governments have effective and operational audit units and committees. As a result, auditing is not used as an essential element of good governance and this leads to bad audit outcomes like disclaimers and adverse opinions. The bad audit outcomes in local government have motivated the researcher to conduct the study on auditing. There are internal factors within the municipalities as well as external factors that are of interest and directed the researcher to have desire and commitment to make a contribution in this particular field of research. The key issues, amongst others, are principles of financial management, financial strategy, auditing functions such as forensic auditing, fraud auditing, forensic accounting and detection of fraud, including accounting systems and auditor’s role. This article will also attempt to reinforce existing theories and add value to local government financial discourse and good governance.

  15. OECD/NEA Burnup Credit Calculational Criticality Benchmark Phase I-B Results

    Energy Technology Data Exchange (ETDEWEB)

    DeHart, M.D.

    1993-01-01

    Burnup credit is an ongoing technical concern for many countries that operate commercial nuclear power reactors. In a multinational cooperative effort to resolve burnup credit issues, a Burnup Credit Working Group has been formed under the auspices of the Nuclear Energy Agency of the Organization for Economic Cooperation and Development. This working group has established a set of well-defined calculational benchmarks designed to study significant aspects of burnup credit computational methods. These benchmarks are intended to provide a means for the intercomparison of computer codes, methods, and data applied in spent fuel analysis. The benchmarks have been divided into multiple phases, each phase focusing on a particular feature of burnup credit analysis. This report summarizes the results and findings of the Phase I-B benchmark, which was proposed to provide a comparison of the ability of different code systems and data libraries to perform depletion analysis for the prediction of spent fuel isotopic concentrations. Results included here represent 21 different sets of calculations submitted by 16 different organizations worldwide, and are based on a limited set of nuclides determined to have the most important effect on the neutron multiplication factor of light-water-reactor spent fuel. A comparison of all sets of results demonstrates that most methods are in agreement to within 10% in the ability to estimate the spent fuel concentrations of most actinides. All methods are within 11% agreement about the average for all fission products studied. Furthermore, most deviations are less than 10%, and many are less than 5%. The exceptions are {sup 149}Sm, {sup 151}Sm, and {sup 155}Gd.

  16. A Mechanism for Anonymous Credit Card Systems

    Science.gov (United States)

    Tamura, Shinsuke; Yanase, Tatsuro

    This paper proposes a mechanism for anonymous credit card systems, in which each credit card holder can conceal individual transactions from the credit card company, while enabling the credit card company to calculate the total expenditures of transactions of individual card holders during specified periods, and to identify card holders who executed dishonest transactions. Based on three existing mechanisms, i.e. anonymous authentication, blind signature and secure statistical data gathering, together with implicit transaction links proposed here, the proposed mechanism enables development of anonymous credit card systems without assuming any absolutely trustworthy entity like tamper resistant devices or organizations faithful both to the credit card company and card holders.

  17. Governance and Development: Changing EU Policies

    NARCIS (Netherlands)

    W. Hout (Wil)

    2010-01-01

    textabstractAbstract This introductory article to the special issue on European Union, development policies and governance discusses how notions of ('good') governance have come to dominate development discourses and policies since the mid-1990s. The article argues that governance was part of the

  18. 12 CFR 706.2 - Unfair credit practices.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Unfair credit practices. 706.2 Section 706.2 Banks and Banking NATIONAL CREDIT UNION ADMINISTRATION REGULATIONS AFFECTING CREDIT UNIONS CREDIT... attachment, execution, or other process on real or personal property held, owned by, or due to the consumer...

  19. Trade credit: Elusive insurance of firm growth

    NARCIS (Netherlands)

    Bams, Dennis; Bos, Jaap; Pisa, Magdalena

    2016-01-01

    Firms depend heavily on trade credit. This paper introduces a trade credit network into a structural model of the economy. In an empirical analysis of the model, we find that trade credit is an elusive insurance: as long as a firm is financially unconstrained and times are good, more trade credit

  20. Modeling Cycle Dependence in Credit Insurance

    Directory of Open Access Journals (Sweden)

    Anisa Caja

    2014-03-01

    Full Text Available Business and credit cycles have an impact on credit insurance, as they do on other businesses. Nevertheless, in credit insurance, the impact of the systemic risk is even more important and can lead to major losses during a crisis. Because of this, the insurer surveils and manages policies almost continuously. The management actions it takes limit the consequences of a downturning cycle. However, the traditional modeling of economic capital does not take into account this important feature of credit insurance. This paper proposes a model aiming to estimate future losses of a credit insurance portfolio, while taking into account the insurer’s management actions. The model considers the capacity of the credit insurer to take on less risk in the case of a cycle downturn, but also the inverse, in the case of a cycle upturn; so, losses are predicted with a more dynamic perspective. According to our results, the economic capital is over-estimated when not considering the management actions of the insurer.

  1. Calculation of Credit Valuation Adjustment Based on Least Square Monte Carlo Methods

    Directory of Open Access Journals (Sweden)

    Qian Liu

    2015-01-01

    Full Text Available Counterparty credit risk has become one of the highest-profile risks facing participants in the financial markets. Despite this, relatively little is known about how counterparty credit risk is actually priced mathematically. We examine this issue using interest rate swaps. This largely traded financial product allows us to well identify the risk profiles of both institutions and their counterparties. Concretely, Hull-White model for rate and mean-reverting model for default intensity have proven to be in correspondence with the reality and to be well suited for financial institutions. Besides, we find that least square Monte Carlo method is quite efficient in the calculation of credit valuation adjustment (CVA, for short as it avoids the redundant step to generate inner scenarios. As a result, it accelerates the convergence speed of the CVA estimators. In the second part, we propose a new method to calculate bilateral CVA to avoid double counting in the existing bibliographies, where several copula functions are adopted to describe the dependence of two first to default times.

  2. How to govern physician-hospital exchanges: contractual and relational issues in Belgian hospitals.

    Science.gov (United States)

    Trybou, Jeroen; Gemmel, Paul; Annemans, Lieven

    2014-07-01

    Our aim was to investigate contractual mechanisms in physician-hospital exchanges. The concepts of risk-sharing and the nature of physician-hospital exchanges - transactional versus relational - were studied. Two qualitative case studies were performed in Belgium. Hospital executives and physicians were interviewed to develop an in-depth understanding of contractual and relational issues that shape physician-hospital contracting in acute care hospitals. The underlying theoretical concepts of agency theory and social exchange theory were used to analyse the data. Our study found that physician-hospital contracting is highly complex. The contract is far more than an economic instrument governing financial aspects. The effect of the contract on the nature of exchange - whether transactional or relational - also needs to be considered. While it can be argued that contractual governance methods are increasingly necessary to overcome the difficulties that arise from the fragmented payment framework by aligning incentives and sharing financial risk, they undermine the necessary relational governance. Relational qualities such as mutual trust and an integrative view on physician-hospital exchanges are threatened, and may be difficult to sustain, given the current fragmentary payment framework. Since health care policy makers are increasing the financial risk borne by health care providers, it can be argued that this also increases the need to share financial risk and to align incentives between physician and hospital. However, our study demonstrates that while economic alignment is important in determining physician-hospital contracts, the corresponding impact on working relationships should also be considered. Moreover, it is important to avoid a relationship between hospital and physician predominantly characterized by transactional exchanges thereby fostering an unhealthy us-and-them divide and mentality. Relational exchange is a valuable alternative to contractual

  3. Theoretical Ideas of Local Government and State Government Development

    Directory of Open Access Journals (Sweden)

    Nikolay I. Churinov

    2016-03-01

    Full Text Available In this article the characteristic of a theoretical component of model of interaction of local government bodies with the central government, and also development of scientific base in the course of history is given. Relevance to this subject in the conditions of the Russian reality is added by federalism of a state system of Russia, namely a thin side in questions of competences between bodies of one hierarchy. This article, will be useful to those who deal with issues in the field of the theory of the state and the right and the municipal right. Historic facts in the form of the regulatory legal acts adopted earlier which subsequently, were a source for development of theoretical ideas of local self-government and the government are given in article.

  4. 76 FR 24089 - Credit Risk Retention

    Science.gov (United States)

    2011-04-29

    ... 17 CFR Part 246 Department of Housing and Urban Development 24 CFR Part 267 Credit Risk Retention... 2501-AD53 Credit Risk Retention AGENCIES: Office of the Comptroller of the Currency, Treasury (OCC..., Commission, FHFA, and HUD (the Agencies) are proposing rules to implement the credit risk retention...

  5. Rare Disasters and Credit Market Puzzles

    DEFF Research Database (Denmark)

    Christoffersen, Peter; Du, Du; Elkamhi, Redouane

    to the real economy and not to bond prices can simultaneously explain several key empirical regularities in credit markets. Our model captures the empirical level and volatility of credit spreads, generates a flexible credit risk term structure, and provides a good fit to a century of observed spreads...

  6. 40 CFR 91.1307 - Credit calculation.

    Science.gov (United States)

    2010-07-01

    ... family in kW (sales weighted). The power of each configuration is the rated output in kilowatts as....1307 Credit calculation. For each participating engine family, emission credits (positive or negative... for an engine family whether generating positive or negative in-use emission credits: ER04oc96.053...

  7. Accounting window dressing and template regulation: A case study of the Australian credit union industry

    OpenAIRE

    Hillier, D.; Hodgson, A.; Stevenson-Clarke, P.; Lhaopadchan, S.

    2008-01-01

    This article documents the response of cooperative institutions that were required to adhere to new capital adequacy regulations traditionally geared for profit-maximising organisations. Using data from the Australian credit union industry, we demonstrate that the cooperative philosophy and internal corporate governance structure of cooperatives will lead management to increase capital adequacy ratios through the application of accounting window dressing techniques. This is opposite to the in...

  8. The development trends of credit rating agencies activity in Russia

    Directory of Open Access Journals (Sweden)

    L. E. Galyaeva

    2016-01-01

    Full Text Available The process and the prospects of development of the rating industry in the country are examined in the article. The author analyzes the influence of sovereign Russian credit rating decrease by the world’s leading rating agencies at the beginning of 2015 on financial sector of the country. Politically motivated international credit rating agencies ratings hinder the development of the Russian financial system. That’s why particular attention is paid to the rejection of dependence on the international credit rating agencies ratings and the appearance of a new strong and powerful national credit agency on the Russian market. The problems concerned with speculative estimates of the Russian investment potential. The author points some possible ways to recover from the crisis by involving inner agencies instead of international ones. Special attention is devoted to the existent legislative modifications. Never the less, speaking about the prospects and the future of the leading agencies, it is significant that their work will be relevant in long term due to the increasing uncertainty of the external environment. Moreover the necessity of investing funds in different objects intensifies which leads to the investors and depositors needs of investing. The presented information may be interesting for further profound exploration of the issues, identify the range of problems to be solved by international ratings of the issuers and their securities. In addition, the information proposed in the article can be also served as a basis for further comparison of the activity of international and national agencies in terms of the services offered.

  9. 20 CFR 227.5 - Employer tax credits.

    Science.gov (United States)

    2010-04-01

    ... 20 Employees' Benefits 1 2010-04-01 2010-04-01 false Employer tax credits. 227.5 Section 227.5... SUPPLEMENTAL ANNUITIES § 227.5 Employer tax credits. Employers are entitled to tax credits if they pay non.... The tax credits for each month equal the sum of the reductions for employer pensions in the...

  10. 13 CFR 134.714 - When must the Judge issue his or her decision?

    Science.gov (United States)

    2010-01-01

    ... Appeals From Women-Owned Small Business Concern (WOSB) and Economically Disadvantaged WOSB Concern (EDWOSB... 13 Business Credit and Assistance 1 2010-01-01 2010-01-01 false When must the Judge issue his or her decision? 134.714 Section 134.714 Business Credit and Assistance SMALL BUSINESS ADMINISTRATION...

  11. 76 FR 34010 - Credit Risk Retention

    Science.gov (United States)

    2011-06-10

    ... 2501-AD53 Credit Risk Retention AGENCIES: Office of the Comptroller of the Currency, Treasury (OCC... credit risk retention requirements of section 15G of the Securities Exchange Act of 1934, as added by the Dodd-Frank Wall Street Reform and Consumer Protection Act (``Credit Risk NPR'' or ``proposed rule...

  12. 12 CFR 702.108 - Risk mitigation credit.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Risk mitigation credit. 702.108 Section 702.108... CORRECTIVE ACTION Net Worth Classification § 702.108 Risk mitigation credit. (a) Who may apply. A credit union may apply for a risk mitigation credit if on any of the current or three preceding effective dates...

  13. 11 CFR 100.55 - Extension of credit.

    Science.gov (United States)

    2010-01-01

    ... substantially similar to extensions of credit to nonpolitical debtors that are of similar risk and size of... 11 Federal Elections 1 2010-01-01 2010-01-01 false Extension of credit. 100.55 Section 100.55... Contribution (2 U.S.C. 431(8)) § 100.55 Extension of credit. The extension of credit by any person is a...

  14. Credit in Acceptance Sampling on Attributes

    NARCIS (Netherlands)

    Klaassen, Chris A.J.

    2000-01-01

    Credit is introduced in acceptance sampling on attributes and a Credit Based Acceptance sampling system is developed that is very easy to apply in practice.The credit of a producer is defined as the total number of items accepted since the last rejection.In our sampling system the sample size for a

  15. A Network Model of Credit Risk Contagion

    Directory of Open Access Journals (Sweden)

    Ting-Qiang Chen

    2012-01-01

    Full Text Available A network model of credit risk contagion is presented, in which the effect of behaviors of credit risk holders and the financial market regulators and the network structure are considered. By introducing the stochastic dominance theory, we discussed, respectively, the effect mechanisms of the degree of individual relationship, individual attitude to credit risk contagion, the individual ability to resist credit risk contagion, the monitoring strength of the financial market regulators, and the network structure on credit risk contagion. Then some derived and proofed propositions were verified through numerical simulations.

  16. CORPORATE GOVERNANCE REGULATION IN EMERGING COUNTRIES. CASE OF ROMANIA

    Directory of Open Access Journals (Sweden)

    Claudiu George BOCEAN

    2010-01-01

    Full Text Available Most of the literature on corporate governance emphasizes that firms should be run in the interests of shareholders. This is a suitable objective function when markets are perfect and complete. In many emerging economies this is not the case: markets are imperfect and incomplete. Corporate governance issues are especially important in emerging countries, since these countries do not have the long-established financial institution infrastructure to deal with corporate governance issues. This paper discusses how emerging countries are dealing with corporate governance issues and the extra obstacles they have to overcome due to a lack of regulations. Romanian case study is examined.

  17. 12 CFR 226.12 - Special credit card provisions.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 3 2010-01-01 2010-01-01 false Special credit card provisions. 226.12 Section... SYSTEM TRUTH IN LENDING (REGULATION Z) Open-End Credit § 226.12 Special credit card provisions. (a) Issuance of credit cards. Regardless of the purpose for which a credit card is to be used, including...

  18. 76 FR 54991 - Corporate Credit Unions

    Science.gov (United States)

    2011-09-06

    ... believes the credit risk of carrying this asset is negligible and warrants such treatment, as CLF stock is... credit union excludes the consolidated assets of such programs from risk-weighted assets pursuant to... paragraphs (c)(3) and (f)(4) and adding new p(h) to read as follows: Sec. 704.6 Credit risk management...

  19. Negotiating Collaborative Governance Designs: A Discursive Approach

    DEFF Research Database (Denmark)

    Plotnikof, Mie

    2015-01-01

    This article addresses the design and implementation issues of collaborative governance, a public-management practice aimed at involving stakeholders in problem solving and public innovation. Although aspects of for example stakeholder inclusion and power are conceptualized in the literature......, these issues remain challenging in practice. Therefore, the interest in understanding the emerging processes of collaborative governance is growing. This article contributes to theorizing discursive aspects of such processes by conceptualizing and exploring the meaning negotiations through which collaborative...... governance designs emerge and change. The findings of a case study of local governments’ efforts to innovate quality management in education through collaborative governance suggest that such form of governance is continuingly negotiated in communication during both design and implementation phases. Through...

  20. Mammography screening credit card and compliance.

    Science.gov (United States)

    Schapira, D V; Kumar, N B; Clark, R A; Yag, C

    1992-07-15

    Screening for breast cancer using mammography has been shown to be effective in reducing mortality from breast cancer. The authors attempted to determine if use of a wallet-size plastic screening "credit" card would increase participants' compliance for subsequent mammograms when compared with traditional methods of increasing compliance. Two hundred and twenty consecutive women, ages 40-70 years, undergoing their first screening mammography were recruited and assigned randomly to four groups receiving (1) a reminder plastic credit card (2) reminder credit card with written reminder; (3) appointment card; and (4) verbal recommendation. Return rates of the four groups were determined after 15 months. The return rate for subsequent mammograms was significantly higher for participants (72.4%) using the credit card than for participants (39.8%) exposed to traditional encouragement/reminders (P less than 0.0001). The credit card was designed to show the participant's screening anniversary, and the durability of the card may have been a factor in increasing the return rate. The use of reminder credit cards may increase compliance for periodic screening examinations for other cancers and other chronic diseases.

  1. Governance and Development: Changing EU Policies

    OpenAIRE

    Hout, Wil

    2010-01-01

    textabstractAbstract This introductory article to the special issue on European Union, development policies and governance discusses how notions of ('good') governance have come to dominate development discourses and policies since the mid-1990s. The article argues that governance was part of the so-called Post-Washington Consensus, which understands governance reform as part of the creation of market societies. Although academics have commonly emphasised the fact that governance concerns the...

  2. 27 CFR 46.223 - Tax credit.

    Science.gov (United States)

    2010-04-01

    ... 27 Alcohol, Tobacco Products and Firearms 2 2010-04-01 2010-04-01 false Tax credit. 46.223 Section... for Sale on April 1, 2009 Tax Liability Calculation § 46.223 Tax credit. The dealer is allowed a credit of up to $500 against the total floor stocks tax. However, controlled groups are eligible for only...

  3. Indian Kisan Credit Card Scheme: An Analytical Study

    Directory of Open Access Journals (Sweden)

    Dharmendra Mehta

    2016-03-01

    Full Text Available Kisan Credit Card (KCC has now been regarded as the only medium of short-term credit for agriculture. The Kisan Credit Card (KCC scheme was introduced by the Finance Minister in his budget speech in the year 1998-99. From the year 1998-99, the scheme was implemented by public sector commercial banks, RRBs (Regional Rural Banks and cooperative banks in the country. It has emerged as an innovative credit distribution system to meet the production credit requirements of the farmers in a timely and easy manner. The present paper is aimed to study role of Kisan Credit Card in the rural credit facilitation in India.

  4. THE COOPERATIVE CREDIT MUTUAL IN BRAZIL.

    Directory of Open Access Journals (Sweden)

    Laércio Baptista da Silva

    2013-06-01

    Full Text Available This study presents an analysis of the reality of credit unions in Brazil, in view of the singular importance of credit unions for the whole society as an alternative to private resources in favor of members of the community where they are located. It confirms that, in Brazil, the mutual credit unions, besides being presented as one of the viable options within the financial system, are also seen as an alternative by which some sectors of society promote the humanization of the financial system by offering credit and return on capital with fairer interest rates.

  5. Governing Forest Ecosystem Services for Sustainable Environmental Governance: A Review

    Directory of Open Access Journals (Sweden)

    Shankar Adhikari

    2018-05-01

    Full Text Available Governing forest ecosystem services as a forest socio-ecological system is an evolving concept in the face of different environmental and social challenges. Therefore, different modes of ecosystem governance such as hierarchical, scientific–technical, and adaptive–collaborative governance have been developed. Although each form of governance offers important features, no one form on its own is sufficient to attain sustainable environmental governance (SEG. Thus, the blending of important features of each mode of governance could contribute to SEG, through a combination of both hierarchical and collaborative governance systems supported by scientifically and technically aided knowledge. This should be further reinforced by the broad engagement of stakeholders to ensure the improved well-being of both ecosystems and humans. Some form of governance and forest management measures, including sustainable forest management, forest certification, and payment for ecosystem services mechanisms, are also contributing to that end. While issues around commodification and putting a price on nature are still contested due to the complex relationship between different services, if these limitations are taken into account, the governance of forest ecosystem services will serve as a means of effective environmental governance and the sustainable management of forest resources. Therefore, forest ecosystem services governance has a promising future for SEG, provided limitations are tackled with due care in future governance endeavors.

  6. Assessing the Credit Risk of Corporate Bonds Based on Factor Analysis and Logistic Regress Analysis Techniques: Evidence from New Energy Enterprises in China

    Directory of Open Access Journals (Sweden)

    Yuanxin Liu

    2018-05-01

    Full Text Available In recent years, new energy sources have ushered in tremendous opportunities for development. The difficulties to finance new energy enterprises (NEEs can be estimated through issuing corporate bonds. However, there are few scientific and reasonable methods to assess the credit risk of NEE bonds, which is not conducive to the healthy development of NEEs. Based on this, this paper analyzes the advantages and risks of NEEs issuing bonds and the main factors affecting the credit risk of NEE bonds, constructs a hybrid model for assessing the credit risk of NEE bonds based on factor analysis and logistic regress analysis techniques, and verifies the applicability and effectiveness of the model employing relevant data from 46 Chinese NEEs. The results show that the main factors affecting the credit risk of NEE bonds are internal factors involving the company’s profitability, solvency, operational ability, growth potential, asset structure and viability, and external factors including macroeconomic environment and energy policy support. Based on the empirical results and the exact situation of China’s NEE bonds, this article finally puts forward several targeted recommendations.

  7. Information Sharing and Credit Rationing : Evidence from the Introduction of a Public Credit Registry

    NARCIS (Netherlands)

    Cheng, X.; Degryse, H.A.

    2010-01-01

    We provide the first evidence on how the introduction of information sharing via a public credit registry affects banks’ lending decisions. We employ a unique dataset containing detailed information on credit card applications and decisions from one of the leading banks in China. While we do not

  8. 49 CFR 536.8 - Conditions for trading of credits.

    Science.gov (United States)

    2010-10-01

    ... 49 Transportation 6 2010-10-01 2010-10-01 false Conditions for trading of credits. 536.8 Section... SAFETY ADMINISTRATION, DEPARTMENT OF TRANSPORTATION TRANSFER AND TRADING OF FUEL ECONOMY CREDITS § 536.8 Conditions for trading of credits. (a) Trading of credits. If a credit holder wishes to trade credits to...

  9. 17 CFR 256.255 - Accumulated deferred investment tax credits.

    Science.gov (United States)

    2010-04-01

    ... investment tax credits. 256.255 Section 256.255 Commodity and Securities Exchanges SECURITIES AND EXCHANGE... investment tax credits. (a) This account shall be credited and account 411.5, Investment tax credit, debited with investment tax credits deferred by companies which do not apply such credits as a reduction of the...

  10. Credit scoring analysis using weighted k nearest neighbor

    Science.gov (United States)

    Mukid, M. A.; Widiharih, T.; Rusgiyono, A.; Prahutama, A.

    2018-05-01

    Credit scoring is a quatitative method to evaluate the credit risk of loan applications. Both statistical methods and artificial intelligence are often used by credit analysts to help them decide whether the applicants are worthy of credit. These methods aim to predict future behavior in terms of credit risk based on past experience of customers with similar characteristics. This paper reviews the weighted k nearest neighbor (WKNN) method for credit assessment by considering the use of some kernels. We use credit data from a private bank in Indonesia. The result shows that the Gaussian kernel and rectangular kernel have a better performance based on the value of percentage corrected classified whose value is 82.4% respectively.

  11. Before e-Governance and e-Government, Back to Basics! The Case of the Caribbean

    Directory of Open Access Journals (Sweden)

    Pearson A. Broome

    2015-09-01

    Full Text Available This conceptual article discusses the opportunities and challenges presented by e-government and e-governance in the Caribbean. An understanding of the issues inherent in these phenomena is crucially important, particularly for the governance systems of small island developing states in the Caribbean. In practice, however, they are rarely discussed,—not least because their complexity is often misunderstood or inappropriately unacknowledged as new directions by political scientists and policy planners. Moreover, the foundational debate on information and communication technologies (ICTs and their impact on governance and the wider implications for development remain muted owing to the theatrical commotion in other “pressing” aspects of Caribbean political life. As a consequence, this article contextualizes the debate by bringing to the fore a discussion on the importance of understanding the broader political, social, and economic issues and the implications of the use of ICTs and development. In the analysis, a balance is struck to avoid the often disproportionate technocratic parables of a future technological cornucopia being peddled by some international development agencies and officials in the region. Such a macro discussion is necessary if as development advocates and citizens, we are to realize any gains while acknowledging the limitations an enabling e-government and e-governance environment could portend.

  12. Governance: Blending Bureaucratic Rules with Day to Day Operational Realities Comment on "Governance, Government, and the Search for New Provider Models".

    Science.gov (United States)

    Chinitz, David P

    2016-05-31

    Richard Saltman and Antonio Duran take up the challenging issue of governance in their article "Governance, Government and the Search for New Provider Models," and use two case studies of health policy changes in Sweden and Spain to shed light on the subject. In this commentary, I seek to link their conceptualization of governance, especially its interrelated roles at the macro, meso, and micro levels of health systems, with the case studies on which they report. While the case studies focus on the shifts in governance between the macro and meso levels and their impacts on achievement of desired policy outcomes, they also highlight the need to better integrate the dynamics of day to day operations within micro organizations into the overall governance picture. © 2016 by Kerman University of Medical Sciences.

  13. CME credit systems in three developing countries: China, India and Indonesia

    Directory of Open Access Journals (Sweden)

    Lewis A. Miller

    2015-04-01

    Full Text Available Introduction. Two of the largest countries in the world, still developing nations, China and Indonesia, have now created national credit systems for continuing medical education (CME. A third, India, has tried but succeeded only on a state-by-state basis. This study tracks the development of CME/continuing professional development (CPD credit systems in these three major Asian countries, analyses the related administrative backgrounds and points to strengths and weaknesses of each system in terms of serving the goals of CME/CPD in impacting medical care systems. Methods. The authors researched national- and state-level government records to identify legal and regulatory data affecting CME in China, India and Indonesia. Information on current and future activities was gained from media reports. Results. In all three countries, CME/CPD systems evaluate physician continuing competence by counting credits or credit hours. Central health authorities in China and Indonesia have established national systems applying to all health professionals. In Indonesia, CME/CPD is mandatory for re-licensure; in China, it is necessary for career advancement and re-registration. An effort to develop mandatory CME requirements in India, for physicians only, failed because the central agency underwent a major overhaul. Nevertheless, 9 of 28 states in India have developed systems, all tied to re-registration. Discussion. A comparison of systems in the three countries shows that little attention has been paid to physician performance improvement or improved patient health outcomes. Needs assessments and outcomes measures are not regularly carried out. We did not find any evidence of programmes to train administrators or faculty in CME/CPD principles, with the possible exception of Indonesia. Suggestions are offered to CME system leaders and providers to help their counterparts in developing nations.

  14. Do Internet Credit Markets Improve Access to Credit for Female Business Owners?

    OpenAIRE

    Barasinska, Nataliya; Schäfer, Dorothea

    2010-01-01

    Business owners and founders are a minority of any bank's business clients. Scientific studies of traditional credit markets often show a lower probability of loan approval or higher loan costs for female business owners compared to male business owners. With this background the question arises whether female business owners have to struggle with this problem less on Internet credit markets. In this current study, DIW Berlin investigated business loans on the largest German Internet platform,...

  15. 76 FR 44462 - Statement of General Policy or Interpretation; Commentary on the Fair Credit Reporting Act

    Science.gov (United States)

    2011-07-26

    ... collection, assembly, and use of consumer report information and provides the framework for the credit... increased the obligations of users of consumer reports, particularly employers. Most significantly, the 1996... transferred authority to issue interpretive guidance under the FCRA to the Consumer Financial Protection...

  16. Excessive credit growth and countercyclical capital buffers in basel III: an empirical evidence from central and east european countries

    OpenAIRE

    Seidler, Jakub; Gersl, Adam

    2012-01-01

    Excessive credit growth is often considered to be an indicator of future problems in the financial sector. This paper examines the issue of how best to determine whether the observed level of private sector credit is excessive in the context of the “countercyclical capital buffer”, a macroprudential tool proposed in the new regulatory framework of Basel III by the Basel Committee on Banking Supervision. An empirical analysis of selected Central and Eastern European countries, including the Cz...

  17. LOCAL GOVERNMENT AND INTERGOVERNMENTAL RELATIONS ...

    African Journals Online (AJOL)

    GRACE

    issues of tax jurisdiction, revenue allocation, intergovernmental relations ... The 1999 Nigeria constitution stipulates the functions and powers of the ... systems of government, is characterized with diverse ethnic groups, ... states perceived to be an attempt by the federal government to relate directly to ..... excise taxes on oil.

  18. Credit demand in Mozambican manufacturing

    DEFF Research Database (Denmark)

    Byiers, Bruce; Rand, John; Tarp, Finn

    2010-01-01

    This paper uses two industrial firm surveys to identify the key determinants of credit demand in Mozambican manufacturing. We construct five different measures of being credit constrained and estimate desired debt demand. Besides firm size and ownership structure, we find evidence that general...

  19. A neural network model for credit risk evaluation.

    Science.gov (United States)

    Khashman, Adnan

    2009-08-01

    Credit scoring is one of the key analytical techniques in credit risk evaluation which has been an active research area in financial risk management. This paper presents a credit risk evaluation system that uses a neural network model based on the back propagation learning algorithm. We train and implement the neural network to decide whether to approve or reject a credit application, using seven learning schemes and real world credit applications from the Australian credit approval datasets. A comparison of the system performance under the different learning schemes is provided, furthermore, we compare the performance of two neural networks; with one and two hidden layers following the ideal learning scheme. Experimental results suggest that neural networks can be effectively used in automatic processing of credit applications.

  20. Corporate Governance, between Classicism and Modernism

    Directory of Open Access Journals (Sweden)

    Niculae Feleaga

    2006-07-01

    Full Text Available Corporate governance represents a complex concept, being an assembly of mechanisms used to set order into company leaders’ decisions. The rules of corporate governance are the ones keeping the score between the economic entity’s leaders and the third parties who invest their resources in the business. The corporate governance issue did not appear by hazard, but it resulted from the necessity to reconcile many business interests within a company (sometimes contradictory issues, especially the ones between the shareholders and the business leaders. The Anglo-Saxon view, in which the business power is given to the Equity items, is traditionally opposing the European (continental vision, where focus is being made on the Stakeholders’ interests. Within a world dominated by globalization issues, and where the financial markets evolve on an exponential curve, the two above mentioned corporate governance models ought to interact one with another in a constructive manner. Even if the corporate governance concept has developed recently, mainly during the last 25 years, its origins are rooted way back into the world history. Corporate governance is organically linked to the capitalist society and economy. After the 11 September attacks, many of the contemporary authors had the tendency to declare this date as the beginning of the XXIst century. If the ‘Twin Towers’ had hosted companies like: Tyco, Enron, Xerox, Wordcom and many other Stock Exchange-quoted businesses, it is likely that the financial crisis from 2000-2002 would have been differently perceived, and corporate governance had developed slightly different evolutionary mechanisms. A scientific article, based on the comparison between the classical and modern corporate governance experiences, would therefore suit the Romanian business environment.

  1. Corporate Governance, between Classicism and Modernism

    Directory of Open Access Journals (Sweden)

    Cristina Vasile

    2006-09-01

    Full Text Available Corporate governance represents a complex concept, being an assembly of mechanisms used to set order into company leaders’ decisions. The rules of corporate governance are the ones keeping the score between the economic entity’s leaders and the third parties who invest their resources in the business. The corporate governance issue did not appear by hazard, but it resulted from the necessity to reconcile many business interests within a company (sometimes contradictory issues, especially the ones between the shareholders and the business leaders. The Anglo-Saxon view, in which the business power is given to the Equity items, is traditionally opposing the European (continental vision, where focus is being made on the Stakeholders’ interests. Within a world dominated by globalization issues, and where the financial markets evolve on an exponential curve, the two above mentioned corporate governance models ought to interact one with another in a constructive manner. Even if the corporate governance concept has developed recently, mainly during the last 25 years, its origins are rooted way back into the world history. Corporate governance is organically linked to the capitalist society and economy. After the 11 September attacks, many of the contemporary authors had the tendency to declare this date as the beginning of the XXIst century. If the ‘Twin Towers’ had hosted companies like: Tyco, Enron, Xerox, Wordcom and many other Stock Exchange-quoted businesses, it is likely that the financial crisis from 2000-2002 would have been differently perceived, and corporate governance had developed slightly different evolutionary mechanisms. A scientific article, based on the comparison between the classical and modern corporate governance experiences, would therefore suit the Romanian business environment.

  2. 76 FR 16235 - Corporate Credit Unions, Technical Corrections

    Science.gov (United States)

    2011-03-23

    ... inadvertently included particular investments that did not--when subject to the other credit risk and asset... NATIONAL CREDIT UNION ADMINISTRATION 12 CFR Part 707 RIN 3133-AD58 Corporate Credit Unions, Technical Corrections AGENCY: National Credit Union Administration (NCUA). ACTION: Final rule. SUMMARY: In...

  3. Societies of the Mutual Credit of Siberia at the Beginning of the XX Century: Number, Structure of Management and Composition

    Directory of Open Access Journals (Sweden)

    Tatiana A. Kattsina

    2015-12-01

    Full Text Available The article based on the Siberian materials explores the number, the system of organization, number and social composition of mutual loan societies. These societies were usually small banks that served the small and middle bourgeoisie, urban and rural entrepreneurs; different from other credit institutions by two main features: 1 the owners of the enterprise are not lenders and borrowers themselves, and 2 the members of societies were linked by mutual responsibility. The article was written with the assistance of new archival materials that allow conclusions on the later of the beginning of mutual credit societies in the Siberian province, a relatively democratic system of governance based on personal acquaintance and mutual trust among participants; the predominance in their composition representatives of trade and industrial estates, and slight differences from the social structure of mutual credit societies in European Russia.

  4. Acquired Credit Unions: Drivers of Takeover

    Directory of Open Access Journals (Sweden)

    R. Raymond Sant

    2015-08-01

    Full Text Available In this paper we study acquired credit unions and analyze their financial performance up to six years prior to merger, on a quarterly basis. The primary focus is on balance sheet (asset liability management and profitability variables (return on assets. We find that acquired credit unions during the period 2008 (third quarter to 2014 (first quarter experienced negative return on assets for several quarters prior to their takeover. This was the result of a declining loan portfolio and increasing charge offs. In spite of decreasing lending activity, such credit unions continued to increase their deposits, i.e., adding to their cost base. Due to declining loans, their net interest margin as a proportion of deposits was also in decline. We argue that this is an indicator of poor management ability. Furthermore, our analysis finds that operating expenses were increasing over time, something that has been documented in previous literature also for smaller credit unions and is attributable to lack of economies of scale. The average asset size of the acquired credit unions in our sample is about $22 million just before acquisition. We attribute our findings to poor business strategy followed by such credit unions. We also conclude that signs of trouble are evident up to two years before merger on average and regulatory policy may have to become more proactive to manage the consolidation challenge faced by the credit union industry in general.

  5. Credit risk transfer activities and systemic risk : How banks became less risky individually but posed greater risks to the financial system at the same time

    NARCIS (Netherlands)

    Wagner, W.B.; Nijskens, R.G.M.

    2011-01-01

    A main cause of the crisis of 2007–2009 is the various ways through which banks have transferred credit risk in the financial system. We study the systematic risk of banks before the crisis, using two samples of banks respectively trading Credit Default Swaps (CDS) and issuing Collateralized Loan

  6. Materialism and credit card use by college students.

    Science.gov (United States)

    Pinto, M B; Parente, D H; Palmer, T S

    2000-04-01

    Much has been written in the popular press on credit card use and spending patterns of American college students. The proliferation of credit cards and their ease of acquisition ensure that students today have more opportunities for making more credit purchases than any other generation of college students. Little is known about the relationship between students' attitudes towards materialism and their use of credit cards. A study was conducted at three college campuses in the northeastern part of the United States where a total of 1,022 students were surveyed. Students' attitudes toward use of credit and their credit card balances were evaluated relative to their scores on Richins and Dawson's Materialism Scale (1992). Our findings suggest no significant difference between those individuals scoring high versus low on the Materialism Scale in terms of the number of credit cards owned and the average balance owed. Individuals high on materialism, however, significantly differed in terms of their uses for credit cards and their general attitude toward their use.

  7. 12 CFR 614.4040 - Production credit associations.

    Science.gov (United States)

    2010-01-01

    ..., membership, term, amount, loan security, and stock or participation certificate requirements of the... Section 614.4040 Banks and Banking FARM CREDIT ADMINISTRATION FARM CREDIT SYSTEM LOAN POLICIES AND OPERATIONS Lending Authorities § 614.4040 Production credit associations. (a) Loan terms. (1) Production...

  8. Time Discounting and Credit Market Access in a Large-Scale Cash Transfer Programme.

    Science.gov (United States)

    Handa, Sudhanshu; Martorano, Bruno; Halpern, Carolyn; Pettifor, Audrey; Thirumurthy, Harsha

    2016-06-01

    Time discounting is thought to influence decision-making in almost every sphere of life, including personal finances, diet, exercise and sexual behavior. In this article we provide evidence on whether a national poverty alleviation program in Kenya can affect inter-temporal decisions. We administered a preferences module as part of a large-scale impact evaluation of the Kenyan Government's Cash Transfer for Orphans and Vulnerable Children. Four years into the program we find that individuals in the treatment group are only marginally more likely to wait for future money, due in part to the erosion of the value of the transfer by inflation. However among the poorest households for whom the value of transfer is still relatively large we find significant program effects on the propensity to wait. We also find strong program effects among those who have access to credit markets though the program itself does not improve access to credit.

  9. Developing emission reduction credit trading in Texas

    International Nuclear Information System (INIS)

    Dodds, J.E.

    1993-01-01

    The Texas Air Control Board has begun to develop a system of emission reduction credit training. The system will be developed incrementally over time. The first step, banking of VOC and NO x Emission Reduction Credits, began March 15, 1993. Additional programs under study and development include NO x RACT trading, emission credits for motor vehicle scrappage and alternative fuel conversion, and establishment of community organizations to generate and acquire emission reduction credits for economic development purposes

  10. Credit scoring analysis using kernel discriminant

    Science.gov (United States)

    Widiharih, T.; Mukid, M. A.; Mustafid

    2018-05-01

    Credit scoring model is an important tool for reducing the risk of wrong decisions when granting credit facilities to applicants. This paper investigate the performance of kernel discriminant model in assessing customer credit risk. Kernel discriminant analysis is a non- parametric method which means that it does not require any assumptions about the probability distribution of the input. The main ingredient is a kernel that allows an efficient computation of Fisher discriminant. We use several kernel such as normal, epanechnikov, biweight, and triweight. The models accuracy was compared each other using data from a financial institution in Indonesia. The results show that kernel discriminant can be an alternative method that can be used to determine who is eligible for a credit loan. In the data we use, it shows that a normal kernel is relevant to be selected for credit scoring using kernel discriminant model. Sensitivity and specificity reach to 0.5556 and 0.5488 respectively.

  11. IMPLICATIONS OF CREDIT RISK TRANSFER ON BANK PERFORMANCES

    Directory of Open Access Journals (Sweden)

    Victoria COCIUG

    2015-07-01

    Full Text Available The impact of the financial crisis has demonstrated the fragility of the banking sector and the need to implement new technologies that would allow not only insurance against the most important credit risk - credit risk, but development of lending segment. In such conditions, transfer of credit risk is an efficient and actual way to diversify the banks exposure for credit risk by the presence of those who are willing to take on some of this risk. Taking of credit risk can be achieved through credit derivatives, securitization and sale of loans, being selected the most advantageous technique for the bank. The current situation of the national banking sector requires solving the problem of bad loans, which, unfortunately, are increasing, by implementing new techniques for credit risk management according with EU directives.

  12. Temporary credits. A solution to the potential non-permanence of carbon sequestration in forests?

    International Nuclear Information System (INIS)

    Marechal, Kevin; Hecq, Walter

    2006-01-01

    The potential non-permanence of sequestered CO 2 emissions is a crucial issue to tackle in order to safely include forestry activities among eligible activities for the Clean Development Mechanism (CDM). Rather than looking at accurate ways of securing permanent reductions, some experts studied the possibility of delivering temporary licenses as a way of circumventing the respective drawbacks of previously proposed approaches (e.g. Ton-Year Accounting). This paper focuses on this concept of temporary (or expiring) credits and tries to assess its financial viability using different scenario assumptions while bearing in mind the need to protect the CDM's environmental integrity. Our main finding is that the concept of expiring credits (EC) provides a convincing answer to the issue of non-permanence both from an environmental perspective and from a strictly financial point of view (as it has the property of efficiently dealing with uncertainties and therefore hedges the risk). However, given the specific nature of forestry activities compared with other types of CDM projects, the EC concept should be complemented with additional rules and modalities. (author)

  13. Credit-Card Bill Seeks to Protect Students but Could Limit Their Access to Credit

    Science.gov (United States)

    Field, Kelly

    2009-01-01

    Congress passed legislation last week that would shield students and other consumers from sudden spikes in interest rates and fees, but that could make it harder for young people to access credit to pay for college. The legislation would extend broad new consumer protections to all credit-card holders, offering special protections to college…

  14. Governance: Blending Bureaucratic Rules with Day to Day Operational Realities; Comment on “Governance, Government, and the Search for New Provider Models”

    Directory of Open Access Journals (Sweden)

    David P Chinitz

    2016-09-01

    Full Text Available Richard Saltman and Antonio Duran take up the challenging issue of governance in their article “Governance, Government and the Search for New Provider Models,” and use two case studies of health policy changes in Sweden and Spain to shed light on the subject. In this commentary, I seek to link their conceptualization of governance, especially its interrelated roles at the macro, meso, and micro levels of health systems, with the case studies on which they report. While the case studies focus on the shifts in governance between the macro and meso levels and their impacts on achievement of desired policy outcomes, they also highlight the need to better integrate the dynamics of day to day operations within micro organizations into the overall governance picture.

  15. Governance Arrangements for the Adaptation to Climate Change

    NARCIS (Netherlands)

    Termeer, C.J.A.M.; Buuren, Van Arwin; Dewulf, A.R.P.J.; Huitema, Dave; Mees, Heleen L.P.; Meijerink, Sander; Rijswick, H.F.M.W.

    2017-01-01

    Adaptation to climate change is not only a technical issue; above all, it is a matter of governance. Governance is more than government and includes the totality of interactions in which public as well as private actors participate, aiming to solve societal problems. Adaptation governance poses some

  16. 6 CFR 25.8 - Government contractor Defense.

    Science.gov (United States)

    2010-01-01

    ... 6 Domestic Security 1 2010-01-01 2010-01-01 false Government contractor Defense. 25.8 Section 25.8...-TERRORISM BY FOSTERING EFFECTIVE TECHNOLOGIES § 25.8 Government contractor Defense. (a) Criteria for... applicability of the government contractor defense. In determining whether to issue such Certification, the...

  17. Ethical and legal challenges in bioenergy governance

    DEFF Research Database (Denmark)

    Gamborg, Christian; Anker, Helle Tegner; Sandøe, Peter

    2014-01-01

    of regulatory measures and options). We present ethical and legal analyses of the current stalemate on bioenergy governance in the EU using two illustrative cases: liquid biofuels for transport and solid biomass-based bioenergy. The two cases disclose some similarities between these two factors......, but the remaining differences may partly explain, or justify, contrasting forms of governance. While there seems to be no easy way in which the EU and national governments can deal with the multiple sustainability issues raised by bioenergy, it is argued that failure to deal explicitly with the underlying value...... disagreements, or to make apparent the regulatory complexity, clouds the issue of how to move forward with governance of bioenergy. We suggest that governance should be shaped with greater focus on the role of value disagreements and regulatory complexity. There is a need for more openness and transparency...

  18. Rare disasters, credit, and option market puzzles

    DEFF Research Database (Denmark)

    Christoffersen, Peter; Du, Du; Elkamhi, Redouane

    2017-01-01

    calibrated to the real economy can simultaneously explain several key empirical regularities in equity, credit, and options markets. Our model captures the empirical level and volatility of credit spreads, generates a flexible credit risk term structure, and provides a good fit to a century of observed...

  19. 40 CFR 1033.715 - Banking emission credits.

    Science.gov (United States)

    2010-07-01

    ... 40 Protection of Environment 32 2010-07-01 2010-07-01 false Banking emission credits. 1033.715... CONTROLS CONTROL OF EMISSIONS FROM LOCOMOTIVES Averaging, Banking, and Trading for Certification § 1033.715 Banking emission credits. (a) Banking is the retention of emission credits by the manufacturer...

  20. Network Effects in Risk Sharing and Credit Market Access: Evidence from Istanbul

    OpenAIRE

    Fikret Adaman; Oya Pinar Ardic; Didem Tuzemen

    2006-01-01

    It is a truism that households in developing countries that face idiosyncratic income/expenditure shocks may face difficulties in smoothing consumption through formal credit institutions, and hence rely, at least partially, on informal ties. While this issue has been explored extensively in the literature for rural areas, the picture reflecting the urban setting remains relatively uninvestigated. This paper aims to fill this gap by presenting an exclusively designed survey implemented i...

  1. 25 CFR 140.23 - Credit at trader's risk.

    Science.gov (United States)

    2010-04-01

    ... 25 Indians 1 2010-04-01 2010-04-01 false Credit at trader's risk. 140.23 Section 140.23 Indians....23 Credit at trader's risk. Credit given Indians will be at the trader's own risk, as no assistance... accept pawns or pledges of personal property by Indians to obtain credit or loans. ...

  2. Digital government and public health.

    Science.gov (United States)

    Fountain, Jane E

    2004-10-01

    Digital government is typically defined as the production and delivery of information and services inside government and between government and the public using a range of information and communication technologies. Two types of government relationships with other entities are government-to-citizen and government-to-government relationships. Both offer opportunities and challenges. Assessment of a public health agency's readiness for digital government includes examination of technical, managerial, and political capabilities. Public health agencies are especially challenged by a lack of funding for technical infrastructure and expertise, by privacy and security issues, and by lack of Internet access for low-income and marginalized populations. Public health agencies understand the difficulties of working across agencies and levels of government, but the development of new, integrated e-programs will require more than technical change - it will require a profound change in paradigm.

  3. 12 CFR 614.4010 - Agricultural credit banks.

    Science.gov (United States)

    2010-01-01

    ...) of this chapter, for the export (including the cost of freight) of agricultural commodities or... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Agricultural credit banks. 614.4010 Section 614.4010 Banks and Banking FARM CREDIT ADMINISTRATION FARM CREDIT SYSTEM LOAN POLICIES AND OPERATIONS...

  4. Credit card spending limit and personal finance: system dynamics approach

    Directory of Open Access Journals (Sweden)

    Mirjana Pejić Bach

    2014-03-01

    Full Text Available Credit cards have become one of the major ways for conducting cashless transactions. However, they have a long term impact on the well being of their owner through the debt generated by credit card usage. Credit card issuers approve high credit limits to credit card owners, thereby influencing their credit burden. A system dynamics model has been used to model behavior of a credit card owner in different scenarios according to the size of a credit limit. Experiments with the model demonstrated that a higher credit limit approved on the credit card decreases the budget available for spending in the long run. This is a contribution toward the evaluation of action for credit limit control based on their consequences.

  5. An Anonymous Credit Card System

    Science.gov (United States)

    Androulaki, Elli; Bellovin, Steven

    Credit cards have many important benefits; however, these same benefits often carry with them many privacy concerns. In particular, the need for users to be able to monitor their own transactions, as well as bank’s need to justify its payment requests from cardholders, entitle the latter to maintain a detailed log of all transactions its credit card customers were involved in. A bank can thus build a profile of each cardholder even without the latter’s consent. In this paper, we present a practical and accountable anonymous credit system based on ecash, with a privacy preserving mechanism for error correction and expense-reporting.

  6. Tuition Tax Credits. Issuegram 19.

    Science.gov (United States)

    Augenblick, John; McGuire, Kent

    Approaches for using the federal income tax system to aid families of pupils attending private schools include: tax credits, tax deductions, tax deferrals, and education savings incentives. Tax credit structures can be made refundable and made sensitive to taxpayers' income levels, the level of education expenditures, and designated costs.…

  7. College credit for in-house training

    International Nuclear Information System (INIS)

    Reilly, K.; Getty, C.; Knief, R.

    1981-01-01

    The Program on Non-Collegiate Sponsored Instruction (PONSI) and similar organizations may be of considerable help to the industry to the extent that college credit can be awarded for certain activities in reactor site training programs. The credit recommendations generally may be used at local colleges. They also may be applied (along with credit for college-level activities such as correspondence and on-campus courses, proficiency testing, and other evaluations) to degrees granted by the Regent's External Degree Program (REX) and other organizations. This paper describes the principle features of the PONSI and REX programs. PONSI's first credit evaluation at a nuclear plant - Consolidated Edison's Indian Point 2 - is summarized. Recent proposals for an explicit nuclear degree through REX are also described briefly

  8. Effects of Credit on Economic Growth, Unemployment and Poverty

    Directory of Open Access Journals (Sweden)

    Mangasa Augustinus Sipahutar

    2016-06-01

                  Effect of credit on economic growth, unemployment and poverty provides evidence from Indonesia on the role of banks credit for promoting economic growth and reducing both unemployment and poverty.  To document the link between banks credit and economic growth, we estimate a VAR model and variance decompositions of annual GDP per capita growth rates to examine what proxy measures of banks credit are most important in accounting for economic growth over time and how much they contribute to explaining economic growth.  We also estimate an ECM to document the relationship between banks credit to both unemployment and poverty.  This paper revealed bi-direction causality between banks credit and economic growth.  Banks credit promotes economic growth and economic growth affects credit depth and financial development.  Furthermore, banks credit is a growth accelerating factor on Indonesian economic growth.  Banks credit is an endogenous growth and a good predictor on Indonesian economy. Our estimation model explained that credit allocated by banks increases business escalation to the real sectors then promotes economic growth, decreases unemployment rate through increasing in labor demanded, increases income and then decrease poverty.  This overall transmission mechanism just occurred through presence of banks credit by increasing money supply to the real sectors, promotes growth and social welfare.   Keywords :  banks credit, economic growth, growth accelerating factor, poverty, unemployment   JEL Classification : E51, E52, E58

  9. Local Government System in Japan

    Directory of Open Access Journals (Sweden)

    Vladimir V. Redko

    2016-12-01

    Full Text Available The article is devoted to the issues of the activities of the local government of Japan. Particular attention is drawn to the legal framework and the material basis for the functioning of local self-government bodies. The system of local self-government is considered as a special form of self-government with a specific functional and meaning; system of municipal management and delegation of authority, as well as features of interaction between civil and imperious levels. The allocation of the city with a special status, as well as the financial structure of the local government of Japan, is considered in detail.

  10. 49 CFR 260.15 - Credit risk premium.

    Science.gov (United States)

    2010-10-01

    ... 49 Transportation 4 2010-10-01 2010-10-01 false Credit risk premium. 260.15 Section 260.15... REHABILITATION AND IMPROVEMENT FINANCING PROGRAM Overview § 260.15 Credit risk premium. (a) Where available... pay to the Administrator a Credit Risk Premium adequate to cover that portion of the subsidy cost not...

  11. Consumer Credit: Evidence from Italian Micro Data

    NARCIS (Netherlands)

    Hochguertel, S.; Alessie, R.; Weber, G.

    2005-01-01

    In this paper we analyse unique data on credit applications received by the leading provider of consumer credit in Italy (Findomestic). The data set covers a five-year period (1995-1999) during which the consumer credit market rapidly expanded in Italy and a new law (the usury law) came into force

  12. Credit scores, cardiovascular disease risk, and human capital.

    Science.gov (United States)

    Israel, Salomon; Caspi, Avshalom; Belsky, Daniel W; Harrington, HonaLee; Hogan, Sean; Houts, Renate; Ramrakha, Sandhya; Sanders, Seth; Poulton, Richie; Moffitt, Terrie E

    2014-12-02

    Credit scores are the most widely used instruments to assess whether or not a person is a financial risk. Credit scoring has been so successful that it has expanded beyond lending and into our everyday lives, even to inform how insurers evaluate our health. The pervasive application of credit scoring has outpaced knowledge about why credit scores are such useful indicators of individual behavior. Here we test if the same factors that lead to poor credit scores also lead to poor health. Following the Dunedin (New Zealand) Longitudinal Study cohort of 1,037 study members, we examined the association between credit scores and cardiovascular disease risk and the underlying factors that account for this association. We find that credit scores are negatively correlated with cardiovascular disease risk. Variation in household income was not sufficient to account for this association. Rather, individual differences in human capital factors—educational attainment, cognitive ability, and self-control—predicted both credit scores and cardiovascular disease risk and accounted for ∼45% of the correlation between credit scores and cardiovascular disease risk. Tracing human capital factors back to their childhood antecedents revealed that the characteristic attitudes, behaviors, and competencies children develop in their first decade of life account for a significant portion (∼22%) of the link between credit scores and cardiovascular disease risk at midlife. We discuss the implications of these findings for policy debates about data privacy, financial literacy, and early childhood interventions.

  13. Lending and Credit Monitoring Principles

    Directory of Open Access Journals (Sweden)

    Viorica IOAN

    2012-11-01

    Full Text Available The results of a bank’s activities depend to a significant extent on the quality of the credit portfolio that it holds, as well as on the credit tracking and control system. The purpose and functioning of such inter-banking systems differs from one bank to another. Loans require an increasingly efficient type of internal surveillance of activity. Following the clients’ behavior and performances, as well as their entire activity is a particularly important phase and absolutely necessary in the course of a loan. The purpose of this activity is, generally, that of identifying, as early as possible, of clues about any problems that may appear during the course of the loan, so as to make possible, as early as can be, the taking of remedial measures with a view to anticipate the deterioration of the loan’s debt. An open communication between the bank and the loan’s beneficiary is an essential condition for an efficient tracking program. Another basic element is the rigorous and complete filling out of the credit papers. The credit files are the backbone of the of the loan monitoring process because these contain all of the documents which may offer to the credit officer, accounting expert, as well as other interested parties a permanent, chronological record of the loan relation.

  14. 13 CFR 142.19 - How are issues brought to the attention of the ALJ?

    Science.gov (United States)

    2010-01-01

    ... 13 Business Credit and Assistance 1 2010-01-01 2010-01-01 false How are issues brought to the attention of the ALJ? 142.19 Section 142.19 Business Credit and Assistance SMALL BUSINESS ADMINISTRATION... attention of the ALJ? All applications to the ALJ for an order or ruling are made by motion, stating the...

  15. The Effect of Credit Risk and Capital Adequacy on the Profitability of Rural Banks in the Philippines

    Directory of Open Access Journals (Sweden)

    Mendoza Rufo

    2017-03-01

    Full Text Available This paper examines the credit risk and capital adequacy of the 567 rural banks in the Philippines to investigate how both variables affect bank profitability. Using the Arellano-Bond estimator, we found out that credit risk has a negative and statistically significant relationship with profitability. However, empirical analysis showed that capital adequacy has no significant impact on the profitability of rural banks in the Philippines. It is therefore necessary for the rural banks to examine more deeply if capital infusion would result in higher profitability than increasing debts. The study also implies that it is imperative for the banks to understand which risk factors have greater impact on their financial performance and use better risk-adjusted performance measurement to support their strategies. Rural banks should establish credit risk management that defines the process from initiation to approval of loans, taking into consideration the sound credit risk management practices issued by regulatory bodies. Moreover, rural banks need to enhance internal control measures to ensure the strict implementation of internal processes on lending operations.

  16. The government favours the negotiation with industrialists; Le gouvernement privilegie la negociation avec les industriels

    Energy Technology Data Exchange (ETDEWEB)

    Anon.

    2002-02-01

    The French government has finally opted for agreements negotiated with industrialists to reduce their greenhouse gases emissions, opening thus the way of future emission credits markets. The 'TGAP' (General Taxes on the Pollutant Activities) will thus not be implemented. (O.M.)

  17. A hybrid model using decision tree and neural network for credit scoring problem

    Directory of Open Access Journals (Sweden)

    Amir Arzy Soltan

    2012-08-01

    Full Text Available Nowadays credit scoring is an important issue for financial and monetary organizations that has substantial impact on reduction of customer attraction risks. Identification of high risk customer can reduce finished cost. An accurate classification of customer and low type 1 and type 2 errors have been investigated in many studies. The primary objective of this paper is to develop a new method, which chooses the best neural network architecture based on one column hidden layer MLP, multiple columns hidden layers MLP, RBFN and decision trees and ensembling them with voting methods. The proposed method of this paper is run on an Australian credit data and a private bank in Iran called Export Development Bank of Iran and the results are used for making solution in low customer attraction risks.

  18. Study on the Impact of the Private Credit Excess on the Credit Risk under the Massive Capital Inflows Risk under the Massive Capital Inflows

    Directory of Open Access Journals (Sweden)

    Jong-Hee Kim

    2016-09-01

    Full Text Available By examining the relationship between private credit growth and the possibility of credit risk while focusing on international capital in 21 countries over the period 2000:1Q-2015:2Q, this paper shows that the impact of private credit growth on credit risk is apparent under the high ratio of capital inflows, and its impact on credit risk in the seven Asian countries is even stronger. And the possibility of credit risk caused by private credit is mainly coming from portfolio inflows rather than direct inflows. Finally, portfolio inflows strengthen the positive relationship between credit excess and credit risk in Asian countries, and this trend is seen more in these after the global financial crisis. Taken together, the stronger positive relationship between credit excess and credit risk can be strengthen under the massive portfolio inflows in particular in the seven Asian countries such as Hong Kong, India, Indonesia, Korea, Malaysia, Singapore, and Thailand.

  19. Why Governments Intervene

    DEFF Research Database (Denmark)

    Brown, Dana; Knudsen, Jette Steen

    for this phenomenon. Research has tended either to rely on cross-country comparisons that generalize tendencies within given countries; or to over-generalize global trends. The current paper analyzes particular CSR policies in two countries – Denmark and the United Kingdom. We find that the rationales for government...... initiatives on CSR are neither consistent across countries or within them. Instead, CSR policies are utilized to address multiple issues crossing various areas of governance, including domestic social policy, global competitiveness policies and foreign policy....

  20. CREDIT RATIONING AND SME DEVELOPMENT IN BOTSWANA ...

    African Journals Online (AJOL)

    None

    have the negative effect of stifling the growth of potential firms, thereby .... credit market may explain the credit rationing behaviour of banks to ... derive policy implications to enhance access to bank credit by SMEs. 4. ..... The main challenges to SMEs identified by the study were non-payment of outstanding ... This decision is.