WorldWideScience

Sample records for loan default rate

  1. Student Loan Default Rates in Minnesota, 2007

    Science.gov (United States)

    Grimes, Tricia

    2010-01-01

    While Minnesota undergraduates are more likely to take out student loans, they are substantially less likely than their peers nationally to default on federal student loans. Fifty-four percent of Minnesota undergraduates took out student loans in 2007-2008, compared to 39 percent of undergraduates across the U.S. Minnesota undergraduates were also…

  2. Are Student Loan Default Rates Linked to Institutional Capacity?

    Science.gov (United States)

    Ishitani, Terry T.; McKitrick, Sean A.

    2016-01-01

    As more undergraduates have taken out loans to attend college, the number of borrowers who fail to repay their student loans has increased. While previous research has focused on students' likelihood to default, this study employed institutional cohort default rates (CDRs) as an outcome variable. Using Integrated Postsecondary Education Data…

  3. Loan Defaults in Africa

    OpenAIRE

    Svetlana Andrianova; Badi H Baltagi; Panicos O Demetriades

    2011-01-01

    African financial deepening is beset by a high rate of loan defaults, which encourages banks to hold liquid assets instead of lending. We put forward a novel theoretical model that captures the salient features of African credit markets which shows that equilibrium with high loan defaults and low lending can arise when contract enforcement institutions are weak, investment opportunities are relatively scarce and information imperfections abound. We provide evidence using a panel of 110 banks ...

  4. A Study of the Impact of Default Management Practices and Other Factors on Student Loan Default Rates in Public Two-Year Community Colleges

    Science.gov (United States)

    Daniels, Randell W.

    2013-01-01

    Default management practices and their relationship to the student loan default rate in public two-year community colleges was the focus of this investigation. Five research questions regarding written default management plans, default management practices, process management, accountability, and other factors impacting default guided the study.…

  5. Colleges with High Default Rates on Guaranteed Loans Given 3 Years to Cut Them or Risk Losing Student Aid.

    Science.gov (United States)

    Palmer, Stacy E.; Wilson, Robin

    1987-01-01

    Colleges and universities will be held directly responsible for loan repayments by their former students. Most postsecondary institutions with default rates of more than 20% are for-profit trade schools, community colleges, or historically Black colleges. (MLW)

  6. Of religion and redemption : Evidence from default on Islamic loans

    NARCIS (Netherlands)

    Baele, L.T.M.; Farooq, Moazzam; Ongena, S.R.G.

    We compare default rates on conventional and Islamic loans using a comprehensive monthly dataset from Pakistan that follows more than 150,000 loans over the period 2006:04 to 2008:12. We find robust evidence that the default rate on Islamic loans is less than half the default rate on conventional

  7. Paying for Default: Change over Time in the Share of Federal Financial Aid Sent to Institutions with High Student Loan Default Rates

    Science.gov (United States)

    Jaquette, Ozan; Hillman, Nicholas W.

    2015-01-01

    Both federal spending on financial aid and student loan default rates have increased over the past decade. These trends have intensified policymakers' concerns that some postsecondary institutions-- particularly in the for-profit sector--maximize revenue derived from federal financial aid without helping students to graduate or find employment.…

  8. Microcredit Loan Repayment Default among Small Scale ...

    African Journals Online (AJOL)

    The model is applied to primary data from a survey of 200 small scale entrepreneurs in the Upper West Region of Ghana. Results show that enterprise size, interest rate, loan duration, level of profit and loan amount are the simultaneous determinants of probability and rate of default. The study recommends that the National ...

  9. Cohort Default Rates in Context

    Science.gov (United States)

    Looney, Shannon M.

    2011-01-01

    Burgeoning student loan debt indicates problems not only for the country's borrowers but also for the postsecondary system. The rise in student loan defaults signifies a rise in institutional cohort default rates (CDRs)--a measure of accountability that informs the government and the general public how well an institution prepares its students for…

  10. Analysis of Default Risk of Agricultural Loan by Some Selected ...

    African Journals Online (AJOL)

    ... to reduce default rate and loan diversions since members can serve as watch dog to each other. Banks should also prevent unnecessary delay in loan disbursement to allow for timely use of the loan. Banks should also explore the Agricultural credit guarantee scheme (ACGS) to offset part of the risk in case of default.

  11. 29 CFR 4043.67 - Loan default.

    Science.gov (United States)

    2010-07-01

    ... 29 Labor 9 2010-07-01 2010-07-01 false Loan default. 4043.67 Section 4043.67 Labor Regulations... CERTAIN OTHER NOTIFICATION REQUIREMENTS Advance Notice of Reportable Events § 4043.67 Loan default. (a) Reportable event and information required. Advance notice is required for a loan default, as described in...

  12. Shopping Center Financing: Pricing Loan Default Risk

    OpenAIRE

    Peter Chinloy; James Musumeci

    1994-01-01

    The financing structure of a shopping center is decomposed into an income security and two put options. These put options are respectively held by the borrower against the lender for default, and by the lender against an insurer or reinsurer. The prices of the put option depend on the loan-to-value ration of the loan and on the risk of the investment. The interest rate charged on the loan is the sum of four components: a riskless rate, lender production costs, and the net price of the put opt...

  13. 29 CFR 4043.34 - Loan default.

    Science.gov (United States)

    2010-07-01

    ... 29 Labor 9 2010-07-01 2010-07-01 false Loan default. 4043.34 Section 4043.34 Labor Regulations... CERTAIN OTHER NOTIFICATION REQUIREMENTS Post-Event Notice of Reportable Events § 4043.34 Loan default. (a) Reportable event. A reportable event occurs for a plan whenever there is a default by a member of the plan's...

  14. DETERMINANTS OF BUSINESS LOAN DEFAULT IN GHANA

    Directory of Open Access Journals (Sweden)

    Akwaa-Sekyi, Ellis Kofi

    2015-05-01

    Full Text Available The initiation, funding, servicing and monitoring of loans by financial intermediaries has been done without regard to some critical factors which could have averted the likelihood of default. The study aimed at measuring the extent that owner-specific, borrower-specific, loan and lender-specific characteristics could determine the probability of loan default. The study used logistic regression for 224 business customers of a bank in Ghana from its nation-wide branches. The study found that owner’s extra income (ownership characteristics, multiple borrowing, diversion of loan purpose (borrower characteristics, loan price, loan purpose, loan age, repayment plan (loan characteristics and underfunding (lender characteristics significantly determined the probability of business loan default. The overall model predicted up to 78.5% of variations in the likelihood of default. The hierarchy of strong determinants given by their odd ratios were loan purpose (47.9 times, underfunding (19.2 times, diversion of loan purpose (11.7 times multiple borrowing (9.4 times and owner’s extra income (8.2 times. The study can conclude that financial intermediaries should be wary of the credit granting process taking cognisance of ownership, borrower, loan and lender characteristics especially the significant predictors. Combining quantitative and qualitative variables as determinants of default could be considered in future.

  15. Of Religion and Redemption : Evidence from Default on Islamic Loans (Replaces EBC DP 2010-032)

    NARCIS (Netherlands)

    Baele, L.; Farooq, M.; Ongena, S.

    2012-01-01

    We compare default rates on conventional and Islamic loans using a comprehensive monthly dataset from Pakistan that follows more than 150,000 loans over the period 2006:04 to 2008:12. We find robust evidence that the default rate on Islamic loans is less than half the default rate on conventional

  16. Using non-performing loan ratios as default rates in the estimation of credit losses and macroeconomic credit risk stress testing: A case from Turkey

    Directory of Open Access Journals (Sweden)

    Guray Kucukkocaoglu

    2016-02-01

    Full Text Available In this study, inspired by the Credit Portfolio View approach, we intend to develop an econometric credit risk model to estimate credit loss distributions of Turkish Banking System under baseline and stress macro scenarios, by substituting default rates with non-performing loan (NPL ratios. Since customer number based historical default rates are not available for the whole Turkish banking system’s credit portfolio, we used NPL ratios as dependent variable instead of default rates, a common practice for many countries where historical default rates are not available. Although, there are many problems in using NPL ratios as default rates such as underestimating portfolio losses as a result of totally non-homogeneous total credit portfolios and transferring non-performing loans to asset management companies from banks’ balance sheets, our aim is to underline and limit some ignored problems using accounting based NPL ratios as default rates in macroeconomic credit risk modeling. Developed models confirm the strong statistical relationship between systematic component of credit risk and macroeconomic variables in Turkey. Stress test results also are compatible with the past experiences

  17. 34 CFR 674.5 - Federal Perkins Loan program cohort default rate and penalties.

    Science.gov (United States)

    2010-07-01

    ... revolving student loan fund by making a capital distribution of the liquid assets of the Fund according to... discharged by the Secretary in accordance with § 674.61(b). (iii) For the purpose of this section, funds obtained by income tax offset, garnishment, income or asset execution, or pursuant to a judgment are not...

  18. Student Loan Default: Do Characteristics of Four-Year Institutions Contribute to the Puzzle?

    Science.gov (United States)

    Webber, Karen L.; Rogers, Sharon L.

    2010-01-01

    College student debt and loan default are growing concerns in the United States. For each U.S. institution, the federal government is now reporting a cohort default rate, which is the percent of students who defaulted on their loan, averaged over a three-year period. Previous studies have amply shown that student characteristics are strongly…

  19. Of Religion and Redemption : Evidence from Default on Islamic Loans (Replaces CentER DP 2010-136)

    NARCIS (Netherlands)

    Baele, L.; Farooq, M.; Ongena, S.

    2012-01-01

    Abstract: We compare default rates on conventional and Islamic loans using a comprehensive monthly dataset from Pakistan that follows more than 150,000 loans over the period 2006:04 to 2008:12. We find robust evidence that the default rate on Islamic loans is less than half the default rate on

  20. Student Loan Default and Repayment in Kentucky

    Science.gov (United States)

    Kentucky Council on Postsecondary Education, 2016

    2016-01-01

    As college costs continue to rise, student loan default and repayment are issues of increasing concern to students and families, colleges and universities, and state and federal governments. Helping students borrow responsibly and manage their debt are vitally important to maintaining college access and affordability and increasing the education…

  1. In Debt and in the Dark: It's Time for Better Information on Student Loan Defaults. Charts You Can Trust

    Science.gov (United States)

    Gillen, Andrew

    2013-01-01

    Student college loan default rates have nearly doubled in recent years. The three-year default rate exceeds 13 percent nationally. Tracking and reporting default rates is a crucial means of monitoring how well higher education dollars are spent. Yet, the way default data is gathered, measured, and reported by the federal government clouds…

  2. Of Religion and Redemption : Evidence from Default on Islamic Loans (Replaced by EBC DP 2012-008)

    NARCIS (Netherlands)

    Baele, L.; Farooq, M.; Ongena, S.

    2010-01-01

    We study default rates on conventional and Islamic loans using a comprehensive monthly dataset from Pakistan that follows more than 150,000 loans over the period 2006:04 to 2008:12. We find robust evidence that the hazard rate on Islamic loans is less than half the hazard rate on conventional loans.

  3. Of Religion and Redemption : Evidence from Default on Islamic Loans (Replaced by CentER DP 2012-014)

    NARCIS (Netherlands)

    Baele, L.; Farooq, M.; Ongena, S.

    2010-01-01

    We study default rates on conventional and Islamic loans using a comprehensive monthly dataset from Pakistan that follows more than 150,000 loans over the period 2006:04 to 2008:12. We find robust evidence that the hazard rate on Islamic loans is less than half the hazard rate on conventional loans.

  4. Lowering Student Loan Default Rates: What One Consortium of Historically Black Institutions Did to Succeed. Education Sector Reports

    Science.gov (United States)

    Dillon, Erin; Smiles, Robin V.

    2010-01-01

    Colleges across the nation are struggling to confront a growing problem in higher education: student debt. As more students borrow more money than ever before, and recent graduates enter the worst job market in a generation, students are increasingly unable to pay back their loans. This report discusses the growing problem of students defaulting…

  5. College on Credit: A Multilevel Analysis of Student Loan Default

    Science.gov (United States)

    Hillman, Nicholas W.

    2014-01-01

    This study updates and expands the literature on student loan default. By applying multilevel regression to the Beginning Postsecondary Students survey, four key findings emerge. First, attending proprietary institutions is strongly associated with default, even after accounting for students' socioeconomic and academic backgrounds. Second,…

  6. Strategic loan defaults and coordination : An experimental analysis

    NARCIS (Netherlands)

    Trautmann, S.T.; Vlahu, R.

    2013-01-01

    This paper experimentally studies the impact of bank and borrower fundamentals on loan repayment. We find that solvent borrowers are more likely to default strategically when the bank’s expected strength is low, although loan repayment is a Pareto dominant Nash equilibrium. Borrowers are also less

  7. Student Loan Forbearance and Its Relationship to Default. Synopsis: Higher Education Research Highlights.

    Science.gov (United States)

    Price, Derek V.

    As the number and volume of student loans increase nationally, lenders and policymakers look more closely at the use of loan forbearance. This paper examines whether forbearance really cuts the risk of loan default by reporting on a study of more than 9,800 Stafford loans in forbearance in December 1996. That research shows that the default rate…

  8. On the spillover of exchange rate risk into default risk

    Directory of Open Access Journals (Sweden)

    Božović Miloš

    2009-01-01

    Full Text Available In order to reduce the exchange-rate risk, banks in emerging markets are typically denominating their loans in foreign currencies. However, in the event of a substantial depreciation of the local currency, the payment ability of a foreign-currency borrower may be reduced significantly, exposing the lender to additional default risk. This paper analyses how the exchange-rate risk of foreign currency loans spills over into default risk. We show that in an economy where foreign currency loans are a dominant source of financing economic activity, depreciation of the local currency establishes a negative feedback mechanism that leads to higher default probabilities, reduced credit supply, and reduced growth. This finding has some important implications that may be of special interest for regulators and market participants in emerging economies.

  9. Cohort Default Rates: Predicting the Probability of Federal Sanctions

    Science.gov (United States)

    Hillman, Nicholas W.

    2015-01-01

    This study examines the institutional factors associated with student loan default. When a college has more than 30% of its students default on their loans, then the institution faces federal sanctions that could make them ineligible from participating in the federal student loan program. Using Integrated Postsecondary Education Data System…

  10. Effect of loan value and collateral on value of mortgage default

    OpenAIRE

    Itoo, R. A.; Selvarasu, A.; Filipe, J.

    2013-01-01

    This study explore the factors influencing mortgage loan default by using the data of mortgage default case from Jammu and Kashmir Bank. To achieve the study objectives sixteen variables are taken. The variables are categorized into three dimensions as borrower’s profile, loan value contents and collateral security. The tools used for analysis of data describing mortgage loan defaulter’s are chi-square, regression, ANOVA, and logistic regression through SPSS 18.0. The results indicate that th...

  11. Risk Factors of Loan Default Payment in Ghana: A case study of Akuapem Rural Bank

    OpenAIRE

    Samuel Antwi; Ebenezer Fiifi Emire Atta Mills; Gifty Atta Mills; Xicang Zhao

    2012-01-01

    This study seeks to determine some risk factors that influence loan default repayment among customers in Akuapem rural bank. Secondary data on some variables which influence customer loan default was obtained from the credit department of Akuapem rural bank. Data was collected for the period 2006 to 2010. A logistic regression model was fitted to the data. It was found that among the variables that were used, Security and Type of Loan were significant to the study whereas Sex, Marital Status,...

  12. Exchange rate policy under sovereign default risk

    OpenAIRE

    Schabert, Andreas

    2011-01-01

    We examine monetary policy options for a small open economy where sovereign default might occur due to intertemporal insolvency. Under interest rate policy and floating exchange rates the equilibrium is indetermined. Under a fixed exchange rate the equilibrium is uniquely determined and independent of sovereign default.

  13. In Good Standing: "Helping Colleges Manage Student Default Rates"

    Science.gov (United States)

    Boerner, Heather

    2014-01-01

    The U.S. Department of Education estimates that 20 percent of community college students default on their student loan obligations (compared with 14.7 percent of all student loan borrowers), and that number is rising. What can community college financial officers do to keep their default numbers low? In this article, Heather Boerner describes the…

  14. 7 CFR 1435.101 - Loan rates.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 10 2010-01-01 2010-01-01 false Loan rates. 1435.101 Section 1435.101 Agriculture... AGRICULTURE LOANS, PURCHASES, AND OTHER OPERATIONS SUGAR PROGRAM Sugar Loan Program § 1435.101 Loan rates. (a) The national average loan rate for raw cane sugar produced from domestically grown sugarcane is: 18...

  15. Managing Student Loan Default Risk: Evidence from a Privately Guaranteed Portfolio.

    Science.gov (United States)

    Monteverde, Kirk

    2000-01-01

    Application of the statistical techniques of survival analysis and credit scoring to private education loans extended to law students found a pronounced seasoning effect for such loans and the robust predictive power of credit bureau scoring of borrowers. Other predictors of default included school-of-attendance, school's geographic location, and…

  16. Automatic for the Borrower: How Repayment Based on Income Can Reduce Loan Defaults and Manage Risk

    Science.gov (United States)

    Baum, Sandy; Carew, Diana; Fraire, Jacob; Jacks, Kay; James, Kevin; Madzelan, Daniel; Miller, Scott E.; Simmons, Barry; Thompson, Jessica

    2014-01-01

    When borrowers default on a federal student loan, it can have catastrophic consequences. Their credit scores drop dramatically, severely curtailing their ability to afford a home or a car, and even limiting their ability to sign up for utilities. The cost of their loan rises as late fees pile up. Moreover, the federal government can garnish…

  17. Parametric modeling of probability of bank loan default in Kenya ...

    African Journals Online (AJOL)

    This makes the study on probability of a customer defaulting very useful while analyzing the credit risk policies. In this paper, we use a raw data set that contains demographic information about the borrowers. The data sets have been used to identify which risk factors associated with the borrowers contribute towards default.

  18. How Does Distress Acquisition Incentivized by Government Purchases of Distressed Loans Affect Bank Default Risk?

    Directory of Open Access Journals (Sweden)

    Jyh-Jiuan Lin

    2018-04-01

    Full Text Available The topic of bank default risk in connection with government bailouts has recently attracted a great deal of attention. In this paper, the question of how a bank’s default risk is affected by a distress acquisition is investigated. Specifically, the government provides a bailout program of distressed loan purchases for a strong bank to acquire a bank in distress. The acquirer bank may likely refuse the acquisition with a bailout when the amount of distressed loan purchases is large or the knock-out value of the acquired bank is high. When the acquirer bank realizes acquisition gains, the default risk in the consolidated bank’s equity return is negatively related to loan purchases, but positively to the knock-out value of the acquired bank. The government bailout, as such, in large part contributes to banking stability.

  19. Rules versus discretion in loan rate setting

    NARCIS (Netherlands)

    Cerqueiro, G.M.; Degryse, H.A.; Ongena, S.

    2011-01-01

    Loan rates for seemingly identical borrowers often exhibit substantial dispersion. This paper investigates the determinants of the dispersion in interest rates on loans granted by banks to small and medium sized enterprises. We associate this dispersion with the loan officers’ use of “discretion” in

  20. Default probabilities and default correlations

    OpenAIRE

    Erlenmaier, Ulrich; Gersbach, Hans

    2001-01-01

    Starting from the Merton framework for firm defaults, we provide the analytics and robustness of the relationship between default correlations. We show that loans with higher default probabilities will not only have higher variances but also higher correlations between loans. As a consequence, portfolio standard deviation can increase substantially when loan default probabilities rise. This result has two important implications. First, relative prices of loans with different default probabili...

  1. Bank Consolidation and Consumer Loan Interest Rates

    OpenAIRE

    Charles Kahn; George Pennacchi; Ben Sopranzetti

    2001-01-01

    The recent wave of bank mergers has raised concern with its effect on competition. This paper examines the influence of concentration and merger activity on consumer loan interest rates. It uses Bank Rate Monitor, Inc. survey data on loan rates quoted weekly by large commercial banks in ten major U.S. cities during the 1989 to 1997 period. The pricing behavior of banks is analyzed for two types of loans: new automobile loans and unsecured personal loans. Market concentration is found to have ...

  2. An Empirical Analysis of the Default Rate of Informal Lending—Evidence from Yiwu, China

    Science.gov (United States)

    Lu, Wei; Yu, Xiaobo; Du, Juan; Ji, Feng

    This study empirically analyzes the underlying factors contributing to the default rate of informal lending. This paper adopts snowball sampling interview to collect data and uses the logistic regression model to explore the specific factors. The results of these analyses validate the explanation of how the informal lending differs from the commercial loan. Factors that contribute to the default rate have particular attributes, while sharing some similarities with commercial bank or FICO credit scoring Index. Finally, our concluding remarks draw some inferences from empirical analysis and speculate as to what this may imply for the role of formal and informal financial sectors.

  3. Credit Default and Business Cycles: An Empirical Investigation of Brazilian Retail Loans

    Directory of Open Access Journals (Sweden)

    Arnildo da Silva Correa

    2014-09-01

    Full Text Available We use microdata from the Credit Information System (SCR of the Central Bank of Brazil to study the relationship between credit default and business cycles. In particular, we study the first part of the argument underlying the discussion about procyclicality related to the Basel II Accord: that recessions might increase credit defaults and have adverse impacts on the losses in portfolios of lender institutions. We explore both time series and cross-sectional variation in the data. Our data on the individual level are composed of retail loan transactions in two modalities-Consumer Credit and Vehicle Financing-from 2003 to 2008. Our results support the idea of a negative relationship between business cycles and credit default, but less strong than suggested in previous studies that use corporate data. We also find low and dispersed default correlations, and smaller losses in Value at Risk (VaR experiments than those found in the literature. These results may be possibly explained by the fact that, in the retail sector, loans are given to a large number of individuals, which may help to diversify risks.

  4. Rules versus Discretion in Loan Rate Setting

    NARCIS (Netherlands)

    Cerqueiro, G.M.; Degryse, H.A.; Ongena, S.

    2007-01-01

    We propose a heteroscedastic regression model to identify the determinants of the dispersion in interest rates on loans granted to small and medium sized enterprises. We interpret unexplained deviations as evidence of the banks’ discretionary use of market power in the loan rate setting process.

  5. 13 CFR 120.315 - Interest rate and loan limit.

    Science.gov (United States)

    2010-01-01

    ... 13 Business Credit and Assistance 1 2010-01-01 2010-01-01 false Interest rate and loan limit. 120... Special Purpose Loans Disabled Assistance Loan Program (dal) § 120.315 Interest rate and loan limit. The interest rate on direct DAL loans is three percent. There is an administrative limit of $150,000 on a...

  6. Federal Student Loans: Oversight of Defaulted Loan Rehabilitation Needs Strengthening. Testimony before the Subcommittee on Higher Education and Workforce Training, Committee on Education and the Workforce, House of Representatives. GAO-14-426T

    Science.gov (United States)

    Emrey-Arras, Melissa

    2014-01-01

    As of September 2013 about $94 billion--over 11 percent of federal student loan volume in repayment--was in default. Loan rehabilitation allows borrowers who make nine on-time monthly payments within 10 months to have the default removed from their credit reports. Department of Education (Education) contracts with collection agencies to assist…

  7. THE RELATIONSHIP BETWEEN MACROECONOMIC VARIABLES AND ROMANIAN CORPORATE DEFAULT RATES BETWEEN 2002-2008

    Directory of Open Access Journals (Sweden)

    Suveg Orsolya

    2011-07-01

    Full Text Available During its 20 year history of market economy, Romania experienced the most severe downturn in 2009, which resulted in many cost, mainly because of the output loss. These conditions forced several firms to declare bankruptcy and to stop their activity. The aim of this research is to assess the relationship between the corporate default rates and the macroeconomic processes in the case of Romania for the period comprised between 2002Q1-2008Q4. For this, based on the relevant literature, we ranked the potential explanatory variables of the default rates into seven groups: cyclical indicators, household indicators, corporate indicators, external sector indicators, price stability indicators and interest rates, loans to private sector and finally the capital market indicators. Some studies base their results only on accounting data, others only on market data. Our study focuses on both, since this seems to be an adequate approach in capturing most of the processes. Similar to the banks loan portfolio structure, we conducted analysis for five sectors: industry, construction, agriculture, services and the overall economy. For each sector the average default probability at time t is modeled as a logistic function of many general and sector-specific macroeconomic variables. The use of logistic regression was motivated by its ability to account for fractional data between 0 and 1. We found that at least one variable from each group has a significant explanatory power regarding the evolution of the default rates in all five sectors analyzed. In some cases the sign of the variables was the opposite of what the economic theory would have suggested, but it has to be taken into account that Romania posted the picture of an overheated economy during the analyzed period. Another important conclusion was that many variables were significant through their lagged value, which indicates an even better supervision of the evolution of the specific variables. From all

  8. 7 CFR Appendix C to Subpart C of... - FSA-2514, Notice of Availability of Loan Servicing to Borrowers Who Are in Non-Monetary Default

    Science.gov (United States)

    2010-01-01

    ... Borrowers Who Are in Non-Monetary Default C Appendix C to Subpart C of Part 766 Agriculture Regulations of... PROGRAMS DIRECT LOAN SERVICING-SPECIAL Loan Servicing Programs Pt. 766, Subpt. C, App. C Appendix C to Subpart C of Part 766—FSA-2514, Notice of Availability of Loan Servicing to Borrowers Who Are in Non...

  9. Gender and Banking: Are Women Better Loan Officers?

    OpenAIRE

    Thorsten Beck; Patrick Behr; Andre Guettler

    2013-01-01

    We analyze gender differences associated with loan officer performance. Using a unique data set for a commercial bank in Albania over the period 1996 to 2006, we find that loans screened and monitored by female loan officers show statistically and economically significant lower default rates than loans handled by male loan officers. This effect comes in addition to a lower default rate of female borrowers and cannot be explained by sample selection, overconfidence of male loan officers or exp...

  10. 34 CFR 682.409 - Mandatory assignment by guaranty agencies of defaulted loans to the Secretary.

    Science.gov (United States)

    2010-07-01

    ... criteria as of April 15 of each year: (i) The unpaid principal balance is at least $100. (ii) For each of... performance of the agency fall below the appropriate percentage of the loan type recovery rate as described in... unenforceable by the Department. (Approved by the Office of Management and Budget under control number 1845-0020...

  11. 7 CFR 1735.33 - Variable interest rate loans.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 11 2010-01-01 2010-01-01 false Variable interest rate loans. 1735.33 Section 1735.33... § 1735.33 Variable interest rate loans. After June 10, 1991, and prior to November 1, 1993, RUS made certain variable rate loans at interest rates less than 5 percent but not less than 2 percent. For those...

  12. 7 CFR 761.9 - Interest rates for direct loans.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 7 2010-01-01 2010-01-01 false Interest rates for direct loans. 761.9 Section 761.9... AGRICULTURE SPECIAL PROGRAMS GENERAL PROGRAM ADMINISTRATION General Provisions § 761.9 Interest rates for direct loans. Interest rates for all direct loans are set in accordance with the Act. A copy of the...

  13. 34 CFR 668.207 - Preventing evasion of the consequences of cohort default rates.

    Science.gov (United States)

    2010-07-01

    ... 34 Education 3 2010-07-01 2010-07-01 false Preventing evasion of the consequences of cohort default rates. 668.207 Section 668.207 Education Regulations of the Offices of the Department of Education... Cohort Default Rates § 668.207 Preventing evasion of the consequences of cohort default rates. (a...

  14. 34 CFR 668.188 - Preventing evasion of the consequences of cohort default rates.

    Science.gov (United States)

    2010-07-01

    ... 34 Education 3 2010-07-01 2010-07-01 false Preventing evasion of the consequences of cohort default rates. 668.188 Section 668.188 Education Regulations of the Offices of the Department of Education... Two Year Cohort Default Rates § 668.188 Preventing evasion of the consequences of cohort default rates...

  15. Guide to Direct Consolidation Loans.

    Science.gov (United States)

    Department of Education, Washington, DC.

    Intended for financial aid counselors, this document provides guidelines to the Federal Direct Consolidation Loan Program for borrowers who are in school, as well as those in repayment, or in default. An introductory section explains the basics of the consolidated loan program, loan categories, and interest rates. Next, standards for borrower…

  16. 34 CFR 668.212 - Loan servicing appeals.

    Science.gov (United States)

    2010-07-01

    ...) Any cohort default rate upon which a loss of eligibility under § 668.206 is based. (b) Improper loan... preclaims or default aversion assistance to the guaranty agency; and (ii) Submit a certification or other...

  17. Student Borrowing in America: Metrics, Demographics, Default Aversion Strategies

    Science.gov (United States)

    Kesterman, Frank

    2006-01-01

    The use of Cohort Default Rate (CDR) as the primary measure of student loan defaults among undergraduates was investigated. The study used data extracted from the National Student Loan Data System (NSLDS), quantitative analysis of Likert-scale survey responses from 153 student financial aid professionals on proposed changes to present metrics and…

  18. 38 CFR 36.4223 - Interest rate reduction refinancing loan.

    Science.gov (United States)

    2010-07-01

    ... 38 Pensions, Bonuses, and Veterans' Relief 2 2010-07-01 2010-07-01 false Interest rate reduction..., Including Site Preparation General Provisions § 36.4223 Interest rate reduction refinancing loan. (a) A... to reduce the interest rate payable on the Department of Veterans Affairs loan provided the following...

  19. 38 CFR 36.4307 - Interest rate reduction refinancing loan.

    Science.gov (United States)

    2010-07-01

    ... 38 Pensions, Bonuses, and Veterans' Relief 2 2010-07-01 2010-07-01 false Interest rate reduction... § 36.4307 Interest rate reduction refinancing loan. (a) Pursuant to 38 U.S.C. 3710(a)(8), (a)(9)(B)(i... interest rate payable on the existing loan provided that all of the following requirements are met: (1) The...

  20. 34 CFR 674.50 - Assignment of defaulted loans to the United States.

    Science.gov (United States)

    2010-07-01

    ...) OFFICE OF POSTSECONDARY EDUCATION, DEPARTMENT OF EDUCATION FEDERAL PERKINS LOAN PROGRAM Due Diligence... to collect on the loan despite complying with the diligence procedures, including at least a first... all of the due diligence requirements described in paragraph (a)(1) of this section if the institution...

  1. 49 CFR 260.45 - Events of default for guaranteed loans.

    Science.gov (United States)

    2010-10-01

    ... reflect the fair market value and potential liquidation value. In order to formulate a liquidation plan... must continue to submit this information to the Administrator each month until such time as the loan is... and interest in accordance with the note. If the loan is brought current, the Lender will repay to the...

  2. Thailand's Student Loans Fund: Interest Rate Subsidies and Repayment Burdens

    Science.gov (United States)

    Chapman, Bruce; Lounkaew, Kiatanantha; Polsiri, Piruna; Sarachitti, Rangsit; Sitthipongpanich, Thitima

    2010-01-01

    Government student loan schemes typically have implicit interest rate subsidies which, while these are a cost to taxpayers, they have the benefit of diminishing repayment burdens for graduates. Our goal is to illustrate the extent of both interest rate subsidies and repayment burdens with respect to Thailand's Student Loans Fund (SLF), using…

  3. The Pricing puzzle: The default term structure of collateralised loan obligations

    OpenAIRE

    Jobst, Andreas A.

    2002-01-01

    Ambivalence in the regulatory definition of capital adequacy for credit risk has recently stirred the financial services industry to collateral loan obligations (CLOs) as an important balance sheet management tool. CLOs represent a specialised form of Asset-Backed Securitisation (ABS), with investors acquiring a structured claim on the interest proceeds generated from a portfolio of bank loans in the form of tranches with different seniority. By way of modelling Merton-type risk-neutral asset...

  4. Identifying Interbank Loans, Rates, and Claims Networks from Transactional Data

    NARCIS (Netherlands)

    Leon Rincon, C.E.; Cely, Jorge; Cadena, Carlos

    2015-01-01

    We identify interbank (i.e. non-collateralized) loans from the Colombian large-value payment system by implementing Furfine’s method. After identifying interbank loans from transactional data we obtain the interbank rates and claims without relying on financial institutions’ reported data.

  5. 13 CFR 120.215 - What interest rates apply to smaller loans?

    Science.gov (United States)

    2010-01-01

    ... 13 Business Credit and Assistance 1 2010-01-01 2010-01-01 false What interest rates apply to... BUSINESS LOANS Policies Specific to 7(a) Loans Maturities; Interest Rates; Loan and Guarantee Amounts § 120.215 What interest rates apply to smaller loans? For a loan over $25,000 but not exceeding $50,000, the...

  6. Developing a java android application of KMV-Merton default rate model

    Science.gov (United States)

    Yusof, Norliza Muhamad; Anuar, Aini Hayati; Isa, Norsyaheeda Natasha; Zulkafli, Sharifah Nursyuhada Syed; Sapini, Muhamad Luqman

    2017-11-01

    This paper presents a developed java android application for KMV-Merton model in predicting the defaut rate of a firm. Predicting default rate is essential in the risk management area as default risk can be immediately transmitted from one entity to another entity. This is the reason default risk is known as a global risk. Although there are several efforts, instruments and methods used to manage the risk, it is said to be insufficient. To the best of our knowledge, there has been limited innovation in developing the default risk mathematical model into a mobile application. Therefore, through this study, default risk is predicted quantitatively using the KMV-Merton model. The KMV-Merton model has been integrated in the form of java program using the Android Studio Software. The developed java android application is tested by predicting the levels of default risk of the three different rated companies. It is found that the levels of default risk are equivalent to the ratings of the respective companies. This shows that the default rate predicted by the KMV-Merton model using the developed java android application can be a significant tool to the risk mangement field. The developed java android application grants users an alternative to predict level of default risk within less procedure.

  7. 7 CFR 1714.5 - Determination of interest rates on municipal rate loans.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 11 2010-01-01 2010-01-01 false Determination of interest rates on municipal rate... General § 1714.5 Determination of interest rates on municipal rate loans. (a) RUS will post on the RUS website, Electric Program HomePage, a schedule of interest rates for municipal rate loans at the beginning...

  8. 78 FR 13999 - Maximum Interest Rates on Guaranteed Farm Loans

    Science.gov (United States)

    2013-03-04

    ..., cost-plus, flat-rate, or market based) to price guaranteed loans, provided the rates do not exceed the... (LIBOR) or the 5-year Treasury note rate, unless the lender uses a formal written risk-based pricing... cost in the form of a lower interest rate than the borrower would otherwise receive. Therefore, the FSA...

  9. MEASURING MODEL FOR BAD LOANS IN BANKS. THE DEFAULT PROBABILITY MODEL.

    Directory of Open Access Journals (Sweden)

    SOCOL ADELA

    2010-12-01

    Full Text Available The banking sectors of the transition countries have progressed remarkably in the last 20 years. In fact, banking in most transition countries has largely shaken off the traumas of the transition eraAt the start of the 21st century banks in these countries look very much like banks elsewhere. That is, they are by no means problem free but they are struggling with the same issues as banks in other emerging market countries during the financial crises conditions. The institutional environment differs considerably among the countries. The goal we set with this article is to examine in terms of methodology the most important assessment criteria of a measuring model for bad loans.

  10. 13 CFR 123.302 - What is the interest rate on an economic injury disaster loan?

    Science.gov (United States)

    2010-01-01

    ... 13 Business Credit and Assistance 1 2010-01-01 2010-01-01 false What is the interest rate on an... ADMINISTRATION DISASTER LOAN PROGRAM Economic Injury Disaster Loans § 123.302 What is the interest rate on an economic injury disaster loan? Your economic injury loan will have an interest rate of 4 percent per annum...

  11. 76 FR 33028 - Agency Information Collection (Requirements for Interest Rate Reduction Refinancing Loans...

    Science.gov (United States)

    2011-06-07

    ... (Requirements for Interest Rate Reduction Refinancing Loans) Activity Under OMB Review AGENCY: Veterans Benefits...: Requirements for Interest Rate Reduction Refinancing Loans. OMB Control Number: 2900-0601. Type of Review..., insured, or direct loan with a new loan at a lower interest rate provided that the veteran still owns the...

  12. 77 FR 20890 - Proposed Information Collection (Interest Rate Reduction Refinancing Loan Worksheet) Activity...

    Science.gov (United States)

    2012-04-06

    ... (Interest Rate Reduction Refinancing Loan Worksheet) Activity: Comment Request AGENCY: Veterans Benefits... to determine whether lenders computed the loan amount on interest rate reduction refinancing loans.... Title: Interest Rate Reduction Refinancing Loan Worksheet, VA Form 26-8923. OMB Control Number: 2900...

  13. 7 CFR 1610.10 - Determination of interest rate on Bank loans.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 11 2010-01-01 2010-01-01 false Determination of interest rate on Bank loans. 1610.10..., DEPARTMENT OF AGRICULTURE LOAN POLICIES § 1610.10 Determination of interest rate on Bank loans. (a) All loan..., shall bear interest at the rate determined as established below, but not less than 5 percent per annum...

  14. A Conditionally Beta Distributed Time-Series Model With Application to Monthly US Corporate Default Rates

    DEFF Research Database (Denmark)

    Nielsen, Thor Pajhede

    2017-01-01

    We consider an observation driven, conditionally Beta distributed model for variables restricted to the unit interval. The model includes both explanatory variables and autoregressive dependence in the mean and precision parameters using the mean-precision parametrization of the beta distribution...... the monthly default rate. (3) There is evidence for volatility clustering beyond what is accounted for by the inherent mean-precision relationship of the Beta distribution in the default rate data....

  15. How loan interest rate liberalization affects firms'loan maturity structure Evidence from listed manufacturing companies in China

    Institute of Scientific and Technical Information of China (English)

    Jianfang Zhou; Jingjing Wang; Jianping Ding

    2014-01-01

    Purpose-After loan interest rate upper limit deregulation in October 2004,the financing environment in China changed dramatically,and the banks were eligible for risk compensation.The purpose of this paper is to focus on the influence of the loan interest rate librealization on firms' loan maturity structure.Design/methodology/approach-Based on Rajan's (1992) model the authors constructed a tradeoff model of how the banks choose long-term and short-term loans scales,and further analyzed banks' loan term decisions under the loan interest rate upper limit deregulation or collateral cases.Then the authors used an unbalanced panel data set of 586 Chinese listed manufacturing companies and 9,376 observations during the period 1996-2011 to testify the theoretical conclusion.Furthermore,the authors studied the effect on firms with different characteristics of ownership or scale.Findings-The results show that the loan interest rate liberalization significantly decreases the private companies' reliance on short-term loans and increases sensitivity to interest rates of stateowned companies' long-term loans.But the results also show that the companies' ownership still plays a key role on the long-term loans availability.When monetary policy tightened,small companies still have to borrow short-term loans for long-term purposes.As the bank industry is still dominated by state-owned banks and the deposit interest rate has upper limits,the effect of the loan interest rate liberalization on easing long-term credit constraints is limited.Originality/value-From a new perspective,the content and findings of this paper contribute to the study of the effect of the interest rate liberalization on China economy.

  16. 7 CFR 1421.10 - Loan repayment rates.

    Science.gov (United States)

    2010-01-01

    ... grain rice, medium grain rice, and confectionery and each other kind of sunflower seed (other than oil... determined by the Secretary) that is calculated based on average market prices for the loan commodity during... and announce repayment rates under paragraphs (a)(2) and (a)(3) of this section based upon market...

  17. Gender and Banking : Are Women Better Loan Officers?

    NARCIS (Netherlands)

    Beck, T.H.L.; Behr, P.; Guttler, A.

    2009-01-01

    We analyze gender differences associated with loan officer performance. Using a unique data set for a commercial bank in Albania over the period 1996 to 2006, we find that loans screened and monitored by female loan officers show statistically and economically significant lower default rates than

  18. 42 CFR 23.25 - How will interest rates for loans be determined?

    Science.gov (United States)

    2010-10-01

    ... 42 Public Health 1 2010-10-01 2010-10-01 false How will interest rates for loans be determined? 23... will interest rates for loans be determined? Interest will be charged at the Treasury Current Value of Funds (CVF) rate in effect on April 1 immediately preceding the date on which the loan is approved and...

  19. 13 CFR 123.104 - What interest rate will I pay on my home disaster loan?

    Science.gov (United States)

    2010-01-01

    ... 13 Business Credit and Assistance 1 2010-01-01 2010-01-01 false What interest rate will I pay on... ADMINISTRATION DISASTER LOAN PROGRAM Home Disaster Loans § 123.104 What interest rate will I pay on my home disaster loan? If you can obtain credit elsewhere, your interest rate is set by a statutory formula, but...

  20. 7 CFR 3575.80 - Interest rate changes after loan closing.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 15 2010-01-01 2010-01-01 false Interest rate changes after loan closing. 3575.80..., DEPARTMENT OF AGRICULTURE GENERAL Community Programs Guaranteed Loans § 3575.80 Interest rate changes after...) may collectively effect a permanent reduction in the interest rate on the guaranteed loan at any time...

  1. Logit Analysis for Profit Maximizing Loan Classification

    OpenAIRE

    Watt, David L.; Mortensen, Timothy L.; Leistritz, F. Larry

    1988-01-01

    Lending criteria and loan classification methods are developed. Rating system breaking points are analyzed to present a method to maximize loan revenues. Financial characteristics of farmers are used as determinants of delinquency in a multivariate logistic model. Results indicate that debt-to-asset and operating ration are most indicative of default.

  2. Rating Migration and Bond Valuation: Decomposing Rating Migration Matrices from Market Data via Default Probability Term Structures

    Directory of Open Access Journals (Sweden)

    Brian BARNARD

    2017-09-01

    Full Text Available The study builds on previous research that decomposes rating category default probability term structures from rating category interest rate term structures, and proposes a method to decompose rating migration matrices from market data, via decomposed default probability term structures. To investigate the power and accuracy of the proposed method, it was examined to what extent an existing, known rating migration matrix could again be surfaced by the method. Overall, the results are more than satisfactory, and the method promises to be accurate. Although not considered here, the main objective is the application of the method to market data. The outcome should be insightful in itself, and can be used to evaluate historical rating migration matrices commonly devised by rating agencies, and to form a better understanding of the default probability term structures embedded in market data.

  3. Analytical Pricing of Defaultable Bond with Stochastic Default Intensity

    OpenAIRE

    O, Hyong-Chol; Wan, Ning

    2013-01-01

    We provide analytical pricing formula of corporate defaultable bond with both expected and unexpected default in the case with stochastic default intensity. In the case with constant short rate and exogenous default recovery using PDE method, we gave some pricing formula of the defaultable bond under the conditions that 1)expected default recovery is the same with unexpected default recovery; 2) default intensity follows one of 3 special cases of Willmott model; 3) default intensity is uncorr...

  4. Non-Parametric Analysis of Rating Transition and Default Data

    DEFF Research Database (Denmark)

    Fledelius, Peter; Lando, David; Perch Nielsen, Jens

    2004-01-01

    We demonstrate the use of non-parametric intensity estimation - including construction of pointwise confidence sets - for analyzing rating transition data. We find that transition intensities away from the class studied here for illustration strongly depend on the direction of the previous move b...

  5. 78 FR 13327 - Request for Information Regarding an Initiative To Promote Student Loan Affordability

    Science.gov (United States)

    2013-02-27

    ... loan balances, with even more in delinquency. Federal student loans frequently provide for income-based... the levels of delinquency and default. \\4\\ Department of the Treasury, Office of Financial Research..., including lenders and loan servicers; Nationally recognized statistical rating organizations (NRSROs...

  6. 78 FR 59011 - Annual Notice of Interest Rates of Federal Student Loans Made Under the William D. Ford Federal...

    Science.gov (United States)

    2013-09-25

    ... DEPARTMENT OF EDUCATION Annual Notice of Interest Rates of Federal Student Loans Made Under the... Aid announces the interest rates for loans made under the William D. Ford Federal Direct Loan (Direct...(b)), provides formulas for determining the interest rates charged to borrowers for loans made under...

  7. 13 CFR 123.406 - What is the interest rate on a pre-disaster mitigation loan?

    Science.gov (United States)

    2010-01-01

    ... 13 Business Credit and Assistance 1 2010-01-01 2010-01-01 false What is the interest rate on a pre... ADMINISTRATION DISASTER LOAN PROGRAM Pre-Disaster Mitigation Loans § 123.406 What is the interest rate on a pre-disaster mitigation loan? The interest rate on a pre-disaster mitigation loan will be fixed at 4 percent...

  8. The Influence of Bi Rate to the Distribution of Working Capital Loans

    Directory of Open Access Journals (Sweden)

    Dian Kurnianingrum

    2015-11-01

    Full Text Available This research “The influence of BI rate to the distribution of working capital loans" is conducted at Indonesian commercial bank during the month of January 2005 until May 2009. The purpose of this research is to determine the effect of BI rate toward the distribution of working capital loans. To test the research hypotheses, the data were analyzed by using Pearson correlate and simple linear regression. Based on research, BI rate significantly influence the distribution of working capital loans. BI rate gives a negative impact to the distribution of working capital loans. It means, the increase in BI rate will decrease the distribution of working capital loans, and vice versa, the decrease in BI rate will increase the distribution of working capital loans.

  9. 25 CFR 103.36 - What options and remedies does the lender have if the borrower defaults on the loan?

    Science.gov (United States)

    2010-04-01

    ... result in the borrower curing the default. (b) The lender may make precautionary advances on the borrower... prospects do not significantly deteriorate. Items for which the lender may make precautionary advances include, for example: (1) Hazard, liability, or key man life insurance premiums; (2) Security measures to...

  10. Alarming Default Rates in South African Children with Moderate Malnutrition on Targeted Supplementary Feeding Programmes

    International Nuclear Information System (INIS)

    Steenkamp, Juliana; Lategan, Ronette

    2014-01-01

    Full text: In 2008, 4.7% South African children under five years suffered from moderate wasting and 23.9% from moderate stunting. Intervention strategies in the public health care system allow for targeted supplementation of children with moderate malnutrition and/or growth failure for three to six months or less if catch-up growth is established. Earlier research among HIV-infected adults on antiretroviral therapy showed that only about 50% of adults could be retained in a nutrition supplementation programme. The aim of this research was to determine default rates of children with moderate malnutrition on a targeted supplementary feeding programme, using Ready-to-use Supplementary Food (RUSF) as home treatment and to explore possible associations between socio-demographic and nutritional factors and defaulting. Between September 2012 and August 2013, a prospective controlled trial was performed in three provinces of South Africa. Children between 12 and 60 months, classified as moderately malnourished, were purposefully selected by dieticians for inclusion in the study, after informed consent was obtained from the legal guardian. Ethical approval was obtained from the Research Ethics Committee, NNMU. In this study defaulting refers to failure to return to the programme after admission, or more than two consecutive absences. Participants had to attend five follow-up sessions, during which children were weighed, measured and data collected in a structured questionnaire. At each visit participants received RUSF as treatment for moderate malnutrition. Parents received a stipend to encourage return. Data were analyzed using PASW (Predictive Analytics SoftWare) by SPSS (Version 21). Frequencies and percentages were used to describe categorical data. Comparisons of means were performed using t-tests. Chi-square tests and two-tailed Pearson correlations were used to describe and test associations and correlations between variables. A p-level ≤0.05 was considered

  11. 24 CFR 201.16 - Default provision.

    Science.gov (United States)

    2010-04-01

    ... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Default provision. 201.16 Section... PROPERTY IMPROVEMENT AND MANUFACTURED HOME LOANS Loan and Note Provisions § 201.16 Default provision. The... default by the borrower. ...

  12. 10 CFR 800.304 - Default.

    Science.gov (United States)

    2010-01-01

    ... 10 Energy 4 2010-01-01 2010-01-01 false Default. 800.304 Section 800.304 Energy DEPARTMENT OF... ASSISTANCE Loan Administration § 800.304 Default. (a) In the event that the borrower fails to perform the terms and conditions of the loan, the borrower shall be in default and the Secretary shall have the...

  13. Studying borrower level risk characteristics of education loan in India

    Directory of Open Access Journals (Sweden)

    Arindam Bandyopadhyay

    2016-09-01

    Full Text Available This paper empirically investigates the granular level risk of education loan using a cross section of data from 5000 borrowers obtained from four major public sector banks in India. The findings suggest that education loan defaults are mainly influenced by security, borrower margin, and repayment periods. The presence of guarantor or co-borrower and collateral significantly reduce default loss rates. The socioeconomic characteristics of borrowers and their regional locations also act as important factors associated with education loan defaults. The results suggest that by segmenting borrowers by probability of default and loss given default in a multidimensional scale, banks can adopt better risk mitigation and pricing strategies to resolve borrower problems.

  14. 76 FR 15055 - Proposed Information Collection (Requirements for Interest Rate Reduction Refinancing Loans...

    Science.gov (United States)

    2011-03-18

    ... (Requirements for Interest Rate Reduction Refinancing Loans); Comment Request AGENCY: Veterans Benefits... to refinance a delinquent VA-guaranteed loan with a lower interest rate. DATES: Written comments and... techniques or the use of other forms of information technology. Title: Requirements for Interest Rate...

  15. 77 FR 38397 - Agency Information Collection (Interest Rate Reduction Refinancing Loan Worksheet) Activities...

    Science.gov (United States)

    2012-06-27

    ... . Please refer to ``OMB Control No. 2900- 0386.'' SUPPLEMENTARY INFORMATION: Title: Interest Rate Reduction... guaranty on all interest rate reduction refinancing loan and provide a receipt as proof that the funding... ensure lenders computed the funding fee and the maximum permissible loan amount for interest rate...

  16. 7 CFR 1779.80 - Interest rate changes after loan closing.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 12 2010-01-01 2010-01-01 false Interest rate changes after loan closing. 1779.80....80 Interest rate changes after loan closing. (a) General. Subject to the restrictions below, the borrower, lender, and holder (if any) may collectively effect a permanent reduction in the interest rate on...

  17. 7 CFR 2201.33 - Defaults.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 15 2010-01-01 2010-01-01 false Defaults. 2201.33 Section 2201.33 Agriculture Regulations of the Department of Agriculture (Continued) LOCAL TELEVISION LOAN GUARANTEE BOARD LOCAL TELEVISION LOAN GUARANTEE PROGRAM-PROGRAM REGULATIONS Loan Guarantees § 2201.33 Defaults. (a) In determining...

  18. Guaranteed Student Loan Amendments of 1976. Ninety-fourth Congress, Second Session. Report No. 94-1232.

    Science.gov (United States)

    Congress of the U.S., Washington, DC. House.

    A report on the Guaranteed Student Loan Amendments (H.R. 14070) to Title IV of the Higher Education Act of 1965 considers the problems behind and implications of the loan program. Chief among the problems are the default rate, access to loans, the schools as lenders, and the role of the states in administering the program. Changes recommended…

  19. 13 CFR 120.938 - Default.

    Science.gov (United States)

    2010-01-01

    ... 13 Business Credit and Assistance 1 2010-01-01 2010-01-01 false Default. 120.938 Section 120.938... Program (504) 504 Loans and Debentures § 120.938 Default. (a) Upon occurrence of an event of default... occurrence of an event of default which does not require automatic acceleration, SBA may forbear acceleration...

  20. Numerical ability predicts mortgage default.

    Science.gov (United States)

    Gerardi, Kristopher; Goette, Lorenz; Meier, Stephan

    2013-07-09

    Unprecedented levels of US subprime mortgage defaults precipitated a severe global financial crisis in late 2008, plunging much of the industrialized world into a deep recession. However, the fundamental reasons for why US mortgages defaulted at such spectacular rates remain largely unknown. This paper presents empirical evidence showing that the ability to perform basic mathematical calculations is negatively associated with the propensity to default on one's mortgage. We measure several aspects of financial literacy and cognitive ability in a survey of subprime mortgage borrowers who took out loans in 2006 and 2007, and match them to objective, detailed administrative data on mortgage characteristics and payment histories. The relationship between numerical ability and mortgage default is robust to controlling for a broad set of sociodemographic variables, and is not driven by other aspects of cognitive ability. We find no support for the hypothesis that numerical ability impacts mortgage outcomes through the choice of the mortgage contract. Rather, our results suggest that individuals with limited numerical ability default on their mortgage due to behavior unrelated to the initial choice of their mortgage.

  1. Numerical ability predicts mortgage default

    Science.gov (United States)

    Gerardi, Kristopher; Goette, Lorenz; Meier, Stephan

    2013-01-01

    Unprecedented levels of US subprime mortgage defaults precipitated a severe global financial crisis in late 2008, plunging much of the industrialized world into a deep recession. However, the fundamental reasons for why US mortgages defaulted at such spectacular rates remain largely unknown. This paper presents empirical evidence showing that the ability to perform basic mathematical calculations is negatively associated with the propensity to default on one’s mortgage. We measure several aspects of financial literacy and cognitive ability in a survey of subprime mortgage borrowers who took out loans in 2006 and 2007, and match them to objective, detailed administrative data on mortgage characteristics and payment histories. The relationship between numerical ability and mortgage default is robust to controlling for a broad set of sociodemographic variables, and is not driven by other aspects of cognitive ability. We find no support for the hypothesis that numerical ability impacts mortgage outcomes through the choice of the mortgage contract. Rather, our results suggest that individuals with limited numerical ability default on their mortgage due to behavior unrelated to the initial choice of their mortgage. PMID:23798401

  2. The supreme subprime myth: the role of bad loans in the 2007-2009 financial crisis

    Directory of Open Access Journals (Sweden)

    Alberto Niccoli

    2012-03-01

    Full Text Available Using simulations, we show that the probability of default and losses given default of subprime mortgage loans are small in comparison to their interest rates. The implication is that these loans are profitable for risk neutral efficient banks. As subprime mortgages remain a good investment even for higher values of probability of default and losses given default, our conclusion is that they did not trigger the 2007-2009 financial crisis. In contrast with other papers, this finding does not derive from analyses relating to the subprime market size, but from the positive ex-ante net present value of their discounted cash flows.

  3. Does Central Bank Quality Determine Sovereign Ratings and Credit Default Swap Spreads: Evidence from the World?

    Directory of Open Access Journals (Sweden)

    Ramlall Indranarain

    2016-09-01

    Full Text Available This study innovates from prior research which focuses on the determinants of sovereign ratings and credit default swap spreads for a large sample of countries by incorporating the quality of central banks, let alone refined proxies. Findings show that the explanatory power of both sovereign ratings and CDS spreads model improve by a hefty 11 percent in case of sovereign ratings and 6 to 9 percent in the case of CDS spreads when central bank quality is incorporated. Such a finding bolters the notion that institutional quality does play a preponderant role when it comes to assessing country risk, making it a systematic component of institutional quality. The effect of labour participation implies that countries buffeted by stronger effects of an ageing population have greater propensity of increases in CDS spreads. Evidence is also found as to the driving dynamics of CDS spreads and sovereign ratings to be distinct. Our results hold robust post tackling for endogeneity problem.

  4. 78 FR 53433 - Annual Notice of Interest Rates of Federal Student Loans Made Under the Federal Family Education...

    Science.gov (United States)

    2013-08-29

    ... Notice of Interest Rates of Federal Student Loans Made Under the Federal Family Education Loan Program... Federal Student Aid announces the interest rates for the period July 1, 2013, through June 30, 2014, for..., 2010. The Chief Operating Officer takes this action to give notice of FFEL Program loan interest rates...

  5. 78 FR 53431 - Annual Notice of Interest Rates of Federal Student Loans Made Under the William D. Ford Federal...

    Science.gov (United States)

    2013-08-29

    ... Notice of Interest Rates of Federal Student Loans Made Under the William D. Ford Federal Direct Loan... Operating Officer for Federal Student Aid announces the interest rates for the period July 1, 2013, through...(b)), provides formulas for determining the interest rates charged to borrowers for loans made under...

  6. 78 FR 5433 - Annual Notice of Interest Rates of Federal Student Loans Made Under the Federal Family Education...

    Science.gov (United States)

    2013-01-25

    ... DEPARTMENT OF EDUCATION Annual Notice of Interest Rates of Federal Student Loans Made Under the... announces the interest rates for the period July 1, 2012, through June 30, 2013, for certain loans made... give notice of FFEL Program loan interest rates to the public. DATES: This notice is effective January...

  7. Factors Affecting Student Loan Default Rate at Johnson County Community College: A Multivariate Analysis of Student Loan Default and Repayment between Years 2006 and 2008

    Science.gov (United States)

    Butler, Cassandra

    2012-01-01

    This study utilized a quantitative design using archival data from Johnson County Community College (JCCC), located in Johnson County, Kansas, and the Office of Financial Aid for students who graduated, withdrew or dropped out of the college in academic years 2006, 2007 and 2008. Because this study used archival data, we can only show…

  8. 12 CFR Appendix K to Part 226 - Total Annual Loan Cost Rate Computations for Reverse Mortgage Transactions

    Science.gov (United States)

    2010-01-01

    ... Appendix K to Part 226—Total Annual Loan Cost Rate Computations for Reverse Mortgage Transactions (a... loan cost rate for various transactions, as well as instructions, explanations, and examples for.... (2) Term of the transaction. For purposes of total annual loan cost disclosures, the term of a...

  9. Small Business Administration (SBA) Loan Program Performance- Post-Charge Off Recovery Rates by Program

    Data.gov (United States)

    Small Business Administration — Reflects total post-charge off recovery rates, as a percent of the amounts charged off by charge off year, for the major loan programs and aggregate totals by charge...

  10. 76 FR 78827 - Loan Guaranty Revised Loan Modification Procedures

    Science.gov (United States)

    2011-12-20

    ... DEPARTMENT OF VETERANS AFFAIRS 38 CFR Part 36 RIN 2900-AN78 Loan Guaranty Revised Loan... amends a Department of Veterans Affairs (VA) Loan Guaranty regulation related to modification of guaranteed housing loans in default. Specifically, changes are made to requirements related to maximum...

  11. Institutional Retention Strategies at Historically Black Colleges and Universities and Their Effects on Cohort Default Rates: 1987-1995. Monograph Series.

    Science.gov (United States)

    Galloway, Fred J.; Swail, Watson Scott

    This study analyzed institutional factors that significantly affect cohort default rates at historically black colleges and universities (HBCUs) and assessed the potential for reducing these rates. It has been hypothesized that the HBCUs most successful in lowering student cohort default rates are those that have also succeeded in increasing…

  12. 7 CFR 1951.891 - Liquidation; default.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 14 2010-01-01 2009-01-01 true Liquidation; default. 1951.891 Section 1951.891... Liquidation; default. (a) In the event that FmHA or its successor agency under Public Law 103-354 takes over... Public Law 103-354 in connection with any default or breach of conditions under any loan made hereunder...

  13. 25 CFR 101.15 - Penalties on default.

    Science.gov (United States)

    2010-04-01

    ... 25 Indians 1 2010-04-01 2010-04-01 false Penalties on default. 101.15 Section 101.15 Indians BUREAU OF INDIAN AFFAIRS, DEPARTMENT OF THE INTERIOR FINANCIAL ACTIVITIES LOANS TO INDIANS FROM THE REVOLVING LOAN FUND § 101.15 Penalties on default. Unless otherwise provided in the loan agreement between...

  14. Protecting Colleges and Students: Community College Strategies to Prevent Default

    Science.gov (United States)

    McKibben, Bryce; La Rocque, Matthew; Cochrane, Debbie

    2014-01-01

    Student loan default, defined as federal loan borrowers' failure to make any payments for at least 270 days, is an issue of increasing importance to community colleges and their students. This report takes a unique look at student loan default at nine community colleges across the nation, and how those colleges are working to help students avoid…

  15. The Influence of Bi Rate to the Distribution of Working Capital Loans

    OpenAIRE

    Dian Kurnianingrum

    2015-01-01

    This research “The influence of BI rate to the distribution of working capital loans" is conducted at Indonesian commercial bank during the month of January 2005 until May 2009. The purpose of this research is to determine the effect of BI rate toward the distribution of working capital loans. To test the research hypotheses, the data were analyzed by using Pearson correlate and simple linear regression. Based on research, BI rate significantly influence the distribution of working capital lo...

  16. 7 CFR 1810.2 - Adjustment of interest rates for certain loans involving use of or construction on prime or...

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 12 2010-01-01 2010-01-01 false Adjustment of interest rates for certain loans... INTEREST RATES, TERMS, CONDITIONS, AND APPROVAL AUTHORITY Interest Rates, Amortization, Guarantee Fee, Annual Charge, and Fixed Period § 1810.2 Adjustment of interest rates for certain loans involving use of...

  17. 78 FR 26680 - Military Reservist Economic Injury Disaster Loans; Interest Rate for Third Quarter FY 2013

    Science.gov (United States)

    2013-05-07

    ... SMALL BUSINESS ADMINISTRATION Military Reservist Economic Injury Disaster Loans; Interest Rate for Third Quarter FY 2013 In accordance with the Code of Federal Regulations 13--Business Credit and Assistance Sec. 123.512, the following interest rate is effective for Military Reservist Economic Injury...

  18. 78 FR 5555 - Military Reservist Economic Injury Disaster Loans; Interest Rate for Second Quarter FY 2013

    Science.gov (United States)

    2013-01-25

    ... SMALL BUSINESS ADMINISTRATION Military Reservist Economic Injury Disaster Loans; Interest Rate for Second Quarter FY 2013 In accordance with the Code of Federal Regulations 13--Business Credit and Assistance Sec. 123.512, the following interest rate is effective for Military Reservist Economic Injury...

  19. 78 FR 65416 - Military Reservist Economic Injury Disaster Loans Interest Rate for First Quarter FY 2014

    Science.gov (United States)

    2013-10-31

    ... SMALL BUSINESS ADMINISTRATION Military Reservist Economic Injury Disaster Loans Interest Rate for First Quarter FY 2014 In accordance with the Code of Federal Regulations 13--Business Credit and Assistance Sec. 123.512, the following interest rate is effective for Military Reservist Economic Injury...

  20. 77 FR 71668 - Military Reservist Economic Injury Disaster Loans; Interest Rate for First Quarter FY 2013

    Science.gov (United States)

    2012-12-03

    ... SMALL BUSINESS ADMINISTRATION Military Reservist Economic Injury Disaster Loans; Interest Rate for First Quarter FY 2013 In accordance with the Code of Federal Regulations 13--Business Credit and Assistance Sec. 123.512, the following interest rate is effective for Military Reservist Economic Injury...

  1. 77 FR 4854 - Military Reservist Economic Injury Disaster Loans; Interest Rate for Second Quarter FY 2012

    Science.gov (United States)

    2012-01-31

    ... SMALL BUSINESS ADMINISTRATION Military Reservist Economic Injury Disaster Loans; Interest Rate for Second Quarter FY 2012 In accordance with the Code of Federal Regulations 13--Business Credit and Assistance Sec. 123.512, the following interest rate is effective for Military Reservist Economic Injury...

  2. 77 FR 25010 - Military Reservist Economic Injury Disaster Loans Interest Rate for Third Quarter FY 2012

    Science.gov (United States)

    2012-04-26

    ... SMALL BUSINESS ADMINISTRATION Military Reservist Economic Injury Disaster Loans Interest Rate for Third Quarter FY 2012 In accordance with the Code of Federal Regulations 13--Business Credit and Assistance Sec. 123.512, the following interest rate is effective for Military Reservist Economic Injury...

  3. 77 FR 46550 - Military Reservist Economic Injury Disaster Loans; Interest Rate for Fourth Quarter FY 2012

    Science.gov (United States)

    2012-08-03

    ... SMALL BUSINESS ADMINISTRATION Military Reservist Economic Injury Disaster Loans; Interest Rate for Fourth Quarter FY 2012 In accordance with the Code of Federal Regulations 13--Business Credit and Assistance Sec. 123.512, the following interest rate is effective for Military Reservist Economic Injury...

  4. 76 FR 66769 - Military Reservist Economic Injury Disaster Loans; Interest Rate for First Quarter FY 2012

    Science.gov (United States)

    2011-10-27

    ... SMALL BUSINESS ADMINISTRATION Military Reservist Economic Injury Disaster Loans; Interest Rate for First Quarter FY 2012 In accordance with the Code of Federal Regulations 13--Business Credit and Assistance Sec. 123.512, the following interest rate is effective for Military Reservist Economic Injury...

  5. 78 FR 45283 - Military Reservist Economic Injury Disaster Loans Interest Rate for Fourth Quarter FY 2013

    Science.gov (United States)

    2013-07-26

    ... SMALL BUSINESS ADMINISTRATION Military Reservist Economic Injury Disaster Loans Interest Rate for Fourth Quarter FY 2013 In accordance with the Code of Federal Regulations 13--Business Credit and Assistance Sec. 123.512, the following interest rate is effective for Military Reservist Economic Injury...

  6. 76 FR 44976 - Military Reservist Economic Injury Disaster Loans; Interest Rate for Fourth Quarter FY 2011

    Science.gov (United States)

    2011-07-27

    ... SMALL BUSINESS ADMINISTRATION Military Reservist Economic Injury Disaster Loans; Interest Rate for Fourth Quarter FY 2011 In accordance with the Code of Federal Regulations 13--Business Credit and Assistance Sec. 123.512, the following interest rate is effective for Military Reservist Economic Injury...

  7. 24 CFR 241.840 - Date of default.

    Science.gov (United States)

    2010-04-01

    ... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Date of default. 241.840 Section... § 241.840 Date of default. In computing loan insurance benefits, the date of default shall be considered... of the lender's acceleration of the debt because of the borrower's default under the first...

  8. 13 CFR 123.603 - What is the interest rate on an economic injury disaster loan under this subpart?

    Science.gov (United States)

    2010-01-01

    ... 13 Business Credit and Assistance 1 2010-01-01 2010-01-01 false What is the interest rate on an... September 11, 2001 Terrorist Attacks § 123.603 What is the interest rate on an economic injury disaster loan under this subpart? Your economic injury disaster loan under this subpart will have an interest rate of...

  9. 7 CFR 1737.71 - Interest rate to be considered for the purpose of assessing feasibility for loans.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 11 2010-01-01 2010-01-01 false Interest rate to be considered for the purpose of... Interest rate to be considered for the purpose of assessing feasibility for loans. (a) For purposes of... Administrator shall assume that the loans, if made, would bear interest at the Treasury rate on the date of...

  10. On a class of adjustable rate mortgage loans subject to a strict balance principle

    DEFF Research Database (Denmark)

    Astrup Jensen, Bjarne

    We describe the background and the basic funding mechanisms for the type of adjustable rate mortgageloans that were introduced in the Danish market in 1996. Each loan is funded separately by tap issuingpass-through mortgage bonds (`strict balance principle'). The novelty is a funding mechanism...... that usesa roll-over strategy, where long term loans are funded by sequentially issuing short term pass-throughbonds, and the first issuer of these loans obtained a patent on the funding principles in 1999. Publiclyavailable descriptions of the principles leave an impression of very complicated numerical...... algorithms.The algorithms described here show that the essentials can be reduced to a `back of an envelope' complexity.Keywords: Adjustable rate mortgages, balance principle, patent, yield curve riding...

  11. Credit Ratings and Bank Monitoring Ability

    NARCIS (Netherlands)

    Nakamura, L.I.; Roszbach, K.

    2010-01-01

    In this paper we use credit rating data from two Swedish banks to elicit evidence on these banks’ loan monitoring ability. We do so by comparing the ability of bank ratings to predict loan defaults relative to that of public ratings from the Swedish credit bureau. We test the banks’ abilility to

  12. 7 CFR 4290.845 - Maximum rate of amortization on Loans and Debt Securities.

    Science.gov (United States)

    2010-01-01

    ...) RURAL BUSINESS-COOPERATIVE SERVICE AND RURAL UTILITIES SERVICE, DEPARTMENT OF AGRICULTURE RURAL BUSINESS INVESTMENT COMPANY (âRBICâ) PROGRAM Financing of Enterprises by RBICs Structuring Rbic Financing of Eligible Enterprises-Types of Financings § 4290.845 Maximum rate of amortization on Loans and Debt Securities. The...

  13. National exchange rate policies and international debt crises: how Brazil did not follow Argentina into a default in 2001-2002

    Directory of Open Access Journals (Sweden)

    Bryan Andrew Kenyon Johnson

    2007-01-01

    Full Text Available This paper examines how exchange rate policies and IMF Stand-By Arrangements affect debt crises using econometrics and a comparison between Argentina and Brazil. It refines an existing diagram outlining crisis development to propose crisis prevention strategies. Flexible exchange rate policies reduce a country's probability of default by over 4%, but Stand-By Arrangements increase it by an inconsequential percentage. Unlike Argentina, Brazil avoided a default via a freely-floating exchange rate system, fiscal deficit reduction, and a cooperative and coordinated relationship with the IMF. The results provide policymakers from developing countries with lessons to manage their countries' default risks more effectively.

  14. 7 CFR 1717.653 - Borrowers in default.

    Science.gov (United States)

    2010-01-01

    ..., to be in the financial interest of the government with respect to loan security and/or repayment. If... AGRICULTURE POST-LOAN POLICIES AND PROCEDURES COMMON TO INSURED AND GUARANTEED ELECTRIC LOANS Investments, Loans, and Guarantees by Electric Borrowers § 1717.653 Borrowers in default. Any borrower not in...

  15. 75 FR 52429 - Guaranteed Single Family Housing Loans

    Science.gov (United States)

    2010-08-26

    ... other than foreclosure is recommended to resolve the delinquency. Use of special loan servicing does not... weekly in its Statistical Release H.15. This default maximum allowable interest rate is determined using... weekly in its Statistical Release H.15. * * * * * Mortgage payment to income ratio. This ratio is defined...

  16. Grading the probabilities of credit default risk for Malaysian listed companies by using the KMV-Merton model

    Science.gov (United States)

    Anuwar, Muhammad Hafidz; Jaffar, Maheran Mohd

    2017-08-01

    This paper provides an overview for the assessment of credit risk specific to the banks. In finance, risk is a term to reflect the potential of financial loss. The risk of default on loan may increase when a company does not make a payment on that loan when the time comes. Hence, this framework analyses the KMV-Merton model to estimate the probabilities of default for Malaysian listed companies. In this way, banks can verify the ability of companies to meet their loan commitments in order to overcome bad investments and financial losses. This model has been applied to all Malaysian listed companies in Bursa Malaysia for estimating the credit default probabilities of companies and compare with the rating given by the rating agency, which is RAM Holdings Berhad to conform to reality. Then, the significance of this study is a credit risk grade is proposed by using the KMV-Merton model for the Malaysian listed companies.

  17. The effect of organizational hierarchy on loan rates and risk assessments

    NARCIS (Netherlands)

    Bouwens, J.; Kroos, P.

    2012-01-01

    We examine whether loan decisions are affected by the internal decision structure of the bank. Banks typically grant decision rights on straight-forward loans entirely to individual loan officers. For more risky loans these officers have to seek ratification for their loan proposals at higher

  18. The Welfare Cost of Sovereign Default and Liquidity Injections

    OpenAIRE

    Guangling Liu

    2014-01-01

    This paper develops a dynamic general equilibrium model with endogenous default on entrepreneur loans and funds borrowed from the central bank (liquidity injections) and investigates the welfare cost of sovereign default. The results show that sovereign default affects production through households' investment decisions and the bank's asset portfolio adjustment. The effect of sovereign default on entrepreneurs tends to be in favor of production. Sovereign default reduces the variability of th...

  19. The legality of unilateral increase of interest rate in banking loan contracts under Serbian law

    Directory of Open Access Journals (Sweden)

    Dudaš Atila I.

    2016-01-01

    Full Text Available The economic crisis spread in 2008 through the world and reached Serbia, rendered the repayment of banking loans indexed in foreign currencies, mostly in CHF at the time, even more difficult. The growing number of non-performing loans inevitably led to an increase in number of the court proceedings in which the debtors made attempts to have the loan contracts declared null and void. In these proceedings, the courts needed to take a stand on some typical clauses in loan contracts and on some banking practices that the debtors considered to be contrary to the principle of good faith, which, before the crisis, was hardly ever given judicial epilogue. In the majority of cases, two types of clauses proved to be unlawful: a clause establishing a right of the bank to subsequently, i.e. after the formation of the contract, and unilaterally, i.e. without a specific consent of the debtor, change (regularly increase the interest rate for the remainder of the credit period; and a clause establishing the right of the bank to apply different exchange rates, i.e. the buying rate to the disbursement of the loan, and the selling rate to the value of credit installments. These clauses certainly existed even before the crisis, but the difficulties in performing the loans caused by the crisis was the social propelling force that brought these cases within the sight of the judiciary. In this paper the author analyzes the reaction of courts, and subsequently that of the legislator, to the clause in loan contracts entitling the bank to unilaterally increase the variable interest rate after the formation of contract. The application of this clause was usually conditioned on significant changes in international financial markets or changes in the costs of the sources of financing, while in some cases the conditions of the application of the clause were simply changes in the business policy of the bank or the need to operate with profit. In any case, these are

  20. Cyclicality and Firm Size in Private Firm Defaults

    DEFF Research Database (Denmark)

    Jensen, Thais Lærkholm; Lando, David; Medhat, Mamdouh

    2017-01-01

    The Basel II/III and CRD IV Accords reduce capital charges on bank loans to smaller firms by assuming that the default probabilities of smaller firms are less sensitive to macroeconomic cycles. We test this assumption in a default intensity framework using a large sample of bank loans to private...

  1. Impacts of Credit Default Swaps on Volatility of the Exchange Rate in Turkey: The Case of Euro

    Directory of Open Access Journals (Sweden)

    Muhsin Kar

    2016-07-01

    Full Text Available In this study, we aim to investigate the impacts of credit default swaps (CDS premium as a risk financial indicator on the fluctuations of value of the Turkish lira against the Euro. We try to answer the following questions: Is the CDS premium change among the drivers of EUR/TL exchange rate and what are the possible effects of CDS premium volatility on EUR/TL exchange rate stability in different conditions? In this regard, we developed a MS-VAR regime change model and asymmetric, frequency domain and rolling windows causality analysis methods. Results obtained from all tests imply that risk premium is partially a driver of the EUR/TL exchange rate between the years 2009 and 2015.

  2. 77 FR 42085 - Federal Perkins Loan Program, Federal Family Education Loan Program, and William D. Ford Federal...

    Science.gov (United States)

    2012-07-17

    ... borrower's loans if the borrower receives a disbursement of a new title IV loan or receives a new TEACH... proposed regulations for programs authorized by title IV of the HEA, to obtain public involvement in the...-defaulted Direct Loan, except for a parent Direct PLUS loan or a Direct Consolidation loan that repaid a...

  3. 24 CFR 232.840 - Date of default.

    Science.gov (United States)

    2010-04-01

    ... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Date of default. 232.840 Section 232.840 Housing and Urban Development Regulations Relating to Housing and Urban Development (Continued....840 Date of default. In computing loan insurance benefits, the date of default shall be considered as...

  4. 24 CFR 220.811 - Date of default.

    Science.gov (United States)

    2010-04-01

    ... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Date of default. 220.811 Section... and Obligations-Projects Insured Project Improvement Loans § 220.811 Date of default. For the purposes of §§ 220.800 et seq., the date of default shall be considered as: (a) The date of the first...

  5. 42 CFR 23.28 - What events constitute default?

    Science.gov (United States)

    2010-10-01

    ... 42 Public Health 1 2010-10-01 2010-10-01 false What events constitute default? 23.28 Section 23.28 Public Health PUBLIC HEALTH SERVICE, DEPARTMENT OF HEALTH AND HUMAN SERVICES PERSONNEL NATIONAL HEALTH... default? The following events will constitute defaults of the loan agreement: (a) Failure to make full...

  6. 24 CFR 220.810 - Definition of default.

    Science.gov (United States)

    2010-04-01

    ... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Definition of default. 220.810... Contract Rights and Obligations-Projects Insured Project Improvement Loans § 220.810 Definition of default... note or security instrument and such default continues for a period of 30 days, the note or security...

  7. 24 CFR 220.812 - Notice of default.

    Science.gov (United States)

    2010-04-01

    ... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Notice of default. 220.812 Section... and Obligations-Projects Insured Project Improvement Loans § 220.812 Notice of default. (a) If the default as defined in § 220.810 is not cured within the 30 day grace period, the lender shall, within 30...

  8. 78 FR 17647 - Annual Notice of Interest Rates of Federal Student Loans Made Under the Federal Family Education...

    Science.gov (United States)

    2013-03-22

    ... DEPARTMENT OF EDUCATION Annual Notice of Interest Rates of Federal Student Loans Made Under the.... Department of Education published in the Federal Register (78 FR 5433) a notice announcing the interest rates... bill rate Margin Total rate First disbursed on or after disbursed interest rate (percent) (percent...

  9. Inequality and Sovereign Default under Democracy

    Directory of Open Access Journals (Sweden)

    YONG KYUN KIM

    2017-06-01

    Full Text Available Do differences in the inequality of income affect the likelihood that democratic governments decide not to honor their foreign debt contracts? I argue that sovereign default involves an intertemporal tradeoff between an immediate consumption boost and a future tax increase. Since a poorer voter internalizes less of the future cost of default, as the median is poorer, the majority’s demand for default increases. Therefore, greater income inequality implies a higher default risk. I then present a signaling game that models strategic selection that a sovereign must go through to get to the default decision node. I show that sovereign default is most likely to actually occur when the level of income inequality is intermediate. The intuition is that sovereign default occurs when risky sovereigns successfully induce creditors to provide a loan, but the most risky ones are among those least able to do so. Empirical findings support the claim.

  10. Bond Pricing with Default Risk

    OpenAIRE

    Saa-Requejo, Jesus; Santa-Clara, Pedro

    1997-01-01

    We offer a new model for pricing bonds subject to default risk. The event of default is remodeled as the first time that a state variable that captures the solvency of the issue goes below a certain level. The payoff to the bond in case of default is a constant fraction of the value of a security with the same promised payoffs but without the risk of default. We show that our model is very tractable under different models of interest rate risk and of the interaction between default risk and i...

  11. The Credit-Risk Decision Mechanism on Fixed Loan Interest Rate with Imperfect Information

    Institute of Scientific and Technical Information of China (English)

    2001-01-01

    In this paper, decision mechanism of credit-risk for banks is studied when the loan interest rate is fixed with asymmetry information in credit market. We give out the designs of rationing and non-rationing on credit risky decision mechanism when collateral value provided by an entrepreneur is not less than the minimum demands of the bank. It shows that under the action of the mechanism, banks could efficiently identify the risk size of the project. Finally, the condition of the project investigation of bank is given over again.

  12. Loss given default determinants in a commercial bank lending: an emerging market case study

    Directory of Open Access Journals (Sweden)

    Jure Poljšak

    2010-06-01

    Full Text Available The purpose of this paper is to analyse the loss given default (LGD determinants in case of a typical loan portfolio consisting of SME loans in a commercial bank operating in one of the quickly developing banking markets, i.e. in Slovenia. Accurate LGD estimates of defaulted bank claims are important for provisioning reserves for credit losses, calculating adequate risk capital and determining fair pricing risky bank loans. While most of the empirical literature in the field concentrates on corporate bond markets to estimate losses in the event of default, we use a unique individual bank data set on SME loan losses. Due to the proprietary nature of data only few studies of this kind have been published so far and to our knowledge none of them covers the Eastern European banking markets. In the first stage of the analysis we estimate the LGD variable by applying the discounted cash flow approach, while in the second stage we analyse its determinants by using the ordinal regression analysis. Our findings suggest that reliable LGD estimates can be produced by discounting expected loan related future cash flows and that explanatory factors, such as type of collateral, type of industrial sector, last available loan rating, size of the debt and loan maturity satisfactorily explicate variability of the LGD variable in the specific banking market. All the results are not only relevant to the impairment policy determination and capital adequacy calculation in the specific bank, but also to the evaluation of SME loans characteristics in developing markets.

  13. Federal Student Loan Programs

    Science.gov (United States)

    Federal Student Aid, US Department of Education, 2014

    2014-01-01

    For those needing a loan to attend college, think federal aid first. Federal student loans usually offer borrowers lower interest rates and have more flexible repayment terms and options than private student loans. This brief report answers the following questions about federal aid: (1) What is a federal student loan?; (2) What is a private…

  14. 7 CFR 3560.67 - Rates and terms for section 515 loans.

    Science.gov (United States)

    2010-01-01

    ... housing, loans will be amortized over a period not to exceed the lesser of the economic life of the... Section 3560.67 Agriculture Regulations of the Department of Agriculture (Continued) RURAL HOUSING SERVICE, DEPARTMENT OF AGRICULTURE DIRECT MULTI-FAMILY HOUSING LOANS AND GRANTS Direct Loan and Grant Origination...

  15. Options to Change Interest Rates and Other Terms on Student Loans

    Science.gov (United States)

    Congressional Budget Office, 2013

    2013-01-01

    The Federal Direct Student Loan Program offers loans to students and their parents to help pay for postsecondary education. Under current law, about $1.4 trillion in new direct loans will be made to students between 2013 and 2023, the Congressional Budget Office (CBO) projects. Analysts and policymakers have raised concerns about various features…

  16. 78 FR 44580 - Mortgage and Loan Insurance Programs Under the National Housing Act-Debenture Interest Rates

    Science.gov (United States)

    2013-07-24

    ... Programs Under the National Housing Act--Debenture Interest Rates AGENCY: Office of the Assistant Secretary... in the interest rates to be paid on debentures issued with respect to a loan or mortgage insured by... interest rate for debentures issued under section 221(g)(4) of the Act during the 6-month period beginning...

  17. 75 FR 41510 - Mortgage and Loan Insurance Programs Under the National Housing Act-Debenture Interest Rates

    Science.gov (United States)

    2010-07-16

    ... Programs Under the National Housing Act--Debenture Interest Rates AGENCY: Office of the Assistant Secretary... in the interest rates to be paid on debentures issued with respect to a loan or mortgage insured by...). The interest rate for debentures issued under section 221(g)(4) of the Act during the 6-month period...

  18. 78 FR 4427 - Mortgage and Loan Insurance Programs Under the National Housing Act-Debenture Interest Rates

    Science.gov (United States)

    2013-01-22

    ... Programs Under the National Housing Act--Debenture Interest Rates AGENCY: Office of the Assistant Secretary... in the interest rates to be paid on debentures issued with respect to a loan or mortgage insured by... interest rate for debentures issued under section 221(g)(4) of the Act during the 6-month period beginning...

  19. 75 FR 5339 - Mortgage and Loan Insurance Programs Under the National Housing Act-Debenture Interest Rates

    Science.gov (United States)

    2010-02-02

    ... Programs Under the National Housing Act--Debenture Interest Rates AGENCY: Office of the Assistant Secretary... in the interest rates to be paid on debentures issued with respect to a loan or mortgage insured by... interest rate for debentures issued under section 221(g)(4) of the Act during the 6-month period beginning...

  20. 77 FR 4359 - Mortgage and Loan Insurance Programs Under the National Housing Act-Debenture Interest Rates

    Science.gov (United States)

    2012-01-27

    ... Programs Under the National Housing Act--Debenture Interest Rates AGENCY: Office of the Assistant Secretary... in the interest rates to be paid on debentures issued with respect to a loan or mortgage insured by...). The interest rate for debentures issued under section 221(g)(4) of the Act during the 6-month period...

  1. 76 FR 4127 - Mortgage and Loan Insurance Programs Under the National Housing Act-Debenture Interest Rates

    Science.gov (United States)

    2011-01-24

    ... Programs Under the National Housing Act--Debenture Interest Rates AGENCY: Office of the Assistant Secretary... in the interest rates to be paid on debentures issued with respect to a loan or mortgage insured by... interest rate for debentures issued under section 221(g)(4) of the Act during the 6-month period beginning...

  2. 76 FR 47225 - Mortgage and Loan Insurance Programs Under the National Housing Act-Debenture Interest Rates

    Science.gov (United States)

    2011-08-04

    ... Programs Under the National Housing Act--Debenture Interest Rates AGENCY: Office of the Assistant Secretary... in the interest rates to be paid on debentures issued with respect to a loan or mortgage insured by... interest rate for debentures issued under section 221(g)(4) of the Act during the 6-month period beginning...

  3. 78 FR 5431 - Annual Notice of Interest Rates of Federal Student Loans Made Under the William D. Ford Federal...

    Science.gov (United States)

    2013-01-25

    ... DEPARTMENT OF EDUCATION Annual Notice of Interest Rates of Federal Student Loans Made Under the... amended, the Chief Operating Officer for Federal Student Aid announces the interest rates for the period... interest rates to the public. FOR FURTHER INFORMATION CONTACT: Ian Foss, U.S. Department of Education, 830...

  4. 77 FR 42754 - Mortgage and Loan Insurance Programs Under the National Housing Act-Debenture Interest Rates

    Science.gov (United States)

    2012-07-20

    ... Programs Under the National Housing Act--Debenture Interest Rates AGENCY: Office of the Assistant Secretary... in the interest rates to be paid on debentures issued with respect to a loan or mortgage insured by... interest rate for debentures issued under section 221(g)(4) of the Act during the 6-month period beginning...

  5. Credit Derivatives and Loan Pricing

    NARCIS (Netherlands)

    Norden, L.; Wagner, W.B.

    2007-01-01

    This paper examines the relationship between the new markets for credit default swaps (CDS) and the pricing of syndicated loans to U.S. corporates. We find that changes in CDS spreads have a significantly positive coefficient and explain about 25% of subsequent monthly changes in aggregate loan

  6. Tax-exempt bank loans still an option for providers.

    Science.gov (United States)

    Ostlund, Grant; Cheney, John E

    2011-07-01

    In evaluating the potential for tax-exempt bank financing, healthcare organizations should carefully consider: Pricing. Loan structure. Security requirements (such as financial covenants and default remedies).

  7. 75 FR 24497 - Short-Term, Small Amount Loans

    Science.gov (United States)

    2010-05-05

    ... reporting their members' payment histories with STS loans to the credit bureaus. Members who successfully... not include fees for unanticipated late payments, defaults, delinquencies, or similar occurrences. As...

  8. An empirical study on the relationship between customers' credit rating and their financial transcripts for loan assignment

    Directory of Open Access Journals (Sweden)

    Hassan Najafi

    2012-01-01

    Full Text Available One of the most important issues on revenue management in banking industries is the assignment of loan to customers. In fact, a big portion of banks' revenue is from loan assignment and choosing appropriate customers for loan assignment not only reduces the financial risk but also it can increase the revenue. In this study, we perform an empirical study to find out whether customers' financial statements could provide enough information about customers for loan assignment. The other objective of this study is to find out whether banks' officials could understand about the details of customers' financial statements. Finally, we want to find out whether there is any relationship between unpaid loans and customers' credit rating. The present study is executed on an Iranian bank by distributing a questionnaire analyzing the results. The results indicate that there are some strong evidence that financial statement could help bank official determine customers' credit rating. The survey also concludes that highly education and experienced employees are the best people for devoting best credit rating for customers.

  9. Estimating Probability of Default on Peer to Peer Market – Survival Analysis Approach

    Directory of Open Access Journals (Sweden)

    Đurović Andrija

    2017-05-01

    Full Text Available Arguably a cornerstone of credit risk modelling is the probability of default. This article aims is to search for the evidence of relationship between loan characteristics and probability of default on peer-to-peer (P2P market. In line with that, two loan characteristics are analysed: 1 loan term length and 2 loan purpose. The analysis is conducted using survival analysis approach within the vintage framework. Firstly, 12 months probability of default through the cycle is used to compare riskiness of analysed loan characteristics. Secondly, log-rank test is employed in order to compare complete survival period of cohorts. Findings of the paper suggest that there is clear evidence of relationship between analysed loan characteristics and probability of default. Longer term loans are more risky than the shorter term ones and the least risky loans are those used for credit card payoff.

  10. Default values

    International Nuclear Information System (INIS)

    1987-08-01

    In making calculations for the purposes of radiation protection, numerical values for parameters used in the calculations are selected. In some cases, data directly applicable to the set of conditions for which the calculations are to be made are unavailable. Therefore, the selection of the values for these parameters may be based on more general data available from the literature or other sources. These values may be referred to as 'default values', that is, values used in default of those based on directly applicable data. The following policy will be applied by Atomic Energy Control Board (AECB) staff in reviewing the radiation protection aspects of submissions associated with licensing, in participating with other organizations in the development of codes and standards, and in any other work which relies to some extent on using default values

  11. 13 CFR 123.203 - What interest rate will my business pay on a physical disaster business loan and what are the...

    Science.gov (United States)

    2010-01-01

    ... 13 Business Credit and Assistance 1 2010-01-01 2010-01-01 false What interest rate will my... Business Loans § 123.203 What interest rate will my business pay on a physical disaster business loan and what are the repayment terms? (a) SBA will announce interest rates with each disaster declaration. If...

  12. Correlated Default and Financial Intermediation

    OpenAIRE

    Gregory Phelan

    2015-01-01

    Financial intermediation naturally arises when knowledge about the aggregate state is valuable for managing investments and lenders cannot easily observe the aggregate state. I show this using a costly enforcement model in which lenders need ex-post incentives to enforce payments from defaulted loans and borrowers' payoffs are correlated. When projects have correlated outcomes, learning the state of one project (via enforcement) provides information about the states of other projects. A large...

  13. Federal Student Loan Interest Rates: History, Subsidies, and Cost. Issue Brief

    Science.gov (United States)

    Delisle, Jason

    2012-01-01

    The 2011 Occupy Wall Street protests brought countless media reports about unemployed college graduates struggling to repay their student loans and headlines sounding alarms that outstanding student loan debt will soon reach $1 trillion. Even though evidence is mixed on whether today's college graduates leave school with significantly more debt…

  14. Towards a default soil carbon sequestration rate after cropland to Miscanthus conversion in Europe

    Science.gov (United States)

    Poeplau, Christopher; Don, Axel

    2013-04-01

    In Europe, an estimated 17-21 million hectares (Mha) of land will need to be converted to bioenergy crop production to meet the EU bioenergy targets for 2020. Conventional bioenergy crops, such as maize and oilseed rape, are known for high greenhouse gas emissions. Perennial grases, such as Miscanthus, are seen as sustainable alternative, due to low fertilizer demand, relatively high yields and the potential to sequester soil organic carbon (SOC). However, the variability of currently published SOC stock changes is huge, ranging from -6.8 to +7.7 Mg ha-1 yr-1, which we attribute to different organic manure applications and differences in the baseline SOC stocks between the sampled plots in the paired plot approach. The conversion from cropland to Miscanthus involves a C3-C4 vegetation change, which allows following the incorporation of C4 Miscanthus-derived carbon into the soil by measuring the abundance of the stable isotope 13C. This was done for six different Miscanthus plantations across Europe, which were older than ten years. C3 carbon decomposition was estimated using the carbon turnover model RothC. Both, C4 and C3 carbon dynamics were summed to obtain the vegetation change-induced SOC stock change. We subsequently applied this approach to all European sites, where C4 carbon dynamic after cropland to Miscanthus conversion has been investigated (n=14) and derived a temperature dependant SOC sequestration rate. We found a mean annual accumulation of 0.40±0.20 Mg C ha-1. Furthermore, we conducted a SOC fractionation to assess the incorporation of C4 carbon into different SOC fractions. After a mean time of 16 years, the particulate organic matter (POM) fraction consisted of 68% Miscanthus-derived carbon in 0-10 cm soil depth. The NaOCl resistant fraction, which is considered "inert", consisted of 12% Miscanthus-derived carbon in 0-10 cm soil depth.

  15. What Drives Bank Lending in Domestic and Foreign Currency Loans in a Small Open Transition Economy with Fixed Exchange Rate? The Case of Macedonia

    OpenAIRE

    Jane Bogoev

    2011-01-01

    This paper investigates two different bank loan supply functions and their determinants according to the currency of bank loans in the Republic of Macedonia. There is robust statistical evidence in favour of the existence of a bank lending channel through foreign currency loans and the foreign reference interest rate. This suggests that the impact of domestic monetary policy over the bank lending channel is limited. The most significant bank-specific characteristic for the foreign currency lo...

  16. P2P Network Lending, Loss Given Default and Credit Risks

    Directory of Open Access Journals (Sweden)

    Guangyou Zhou

    2018-03-01

    Full Text Available Peer-to-peer (P2P network lending is a new mode of internet finance that still holds credit risk as its main risk. According to the internal rating method of the New Basel Accord, in addition to the probability of default, loss given default is also one of the important indicators of evaluation credit risks. Proceeding from the perspective of loss given default (LGD, this paper conducts an empirical study on the probability distribution of LGDs of P2P as well as its influencing factors with the transaction data of Lending Club. The results show that: (1 the LGDs of P2P loans presents an obvious unimodal distribution, the peak value is relatively high and tends to concentrate with the decrease of the borrower’s credit rating, indicating that the distribution of LGDs of P2P lending is similar to that of unsecured bonds; (2 The total asset of the borrower has no significant impact on LGD, the credit rating and the debt-to-income ratio exert a significant negative impact, while the term and amount of the loan produce a relatively strong positive impact. Therefore, when evaluating the borrower’s repayment ability, it is required to pay more attention to its assets structure rather than the size of its total assets. When carrying out risk control for the P2P platform, it is necessary to give priority to the control of default rate.

  17. 7 CFR 765.402 - Transfer of security and loan assumption on same rates and terms.

    Science.gov (United States)

    2010-01-01

    .... (3) A corporation, including limited liability company, or cooperative, the transferee must: (i) Have... personal liability for the loan; (d) A new entity buys the borrower entity and continues to operate the...

  18. Miraculous financial engineering or toxic finance? The genesis of the U.S. subprime mortgage loans crisis and its consequences on the global financial markets and real economy

    OpenAIRE

    Ivo Pezzuto

    2012-01-01

    In the fall of 2008, the U.S. subprime mortgage loans defaults have turned into Wall Street’s biggest crisis since the Great Depression. As hundreds of billions in mortgage-related investments went bad, banks became suspicious of one another’s potential undisclosed credit losses and preferred to reduce their exposure in the interbank markets, thus causing interbank interest rates and credit default swaps increases, a liquidity shortage problem and a worsened credit crunch condition to consume...

  19. EMPIRICAL STUDY OF THE PROBABILITY OF DEFAULT IN CASE OF ROMANIAN COMPANIES LISTED ON STOCK EXCHANGE

    Directory of Open Access Journals (Sweden)

    Marton Noemi, Racz Timea Erzsebet

    2011-07-01

    Full Text Available The importance of estimation of a firm's probability of default increased significantly during the economic and financial crisis for financial institutions, which can be explained by the fact that the share of nonperforming loans increased in this period. The probability of default can be estimated with structural models, which have on base the methodology developed by Merton (1974, methodology used by Moody's Corporation (known as KMV Merton model. The aim of this study is to estimate the probability of default of companies listed on Bucharest Stock Exchange using this methodology. This approach was widely used in the literature by many researchers (i.e., Kealhofer and Kurbat (2000, Crosbie and Bohn (2002, Duffie and Wang (2004, Bharath and Shumway (2004, 2008. In Romania this methodology was empirically tested by Codirlaşu (2007, who estimated using Merton's methodology the probability of default of companies listed on the Bucharest Stock Exchange, respectively by Bobircă et al. (2008, where the probabilities of default were estimated in case of 42 companies listed on the Bucharest Stock Exchange for 2000-2008 time period. In this paper we used Merton's model, which assumes that a company defaults if the value of its assets is less than the promised dept repayment at time T. The process of estimating the probability of default starts from the following firm specific variables: the market value of the firm's assets, the share prices, the value of the liabilities and the risk-free rate. The analyzed period is 2003-2010, containing the economic and financial crisis period, too. Analyzing the financial statements of the companies listed on the Bucharest Stock Exchange, we determined the input parameters of the model and calculated the quarterly probabilities of default of each analyzed company. According to our results the probabilities of default have a reduced value in the majority of the cases.

  20. Entrepreneurial and business skills and loan repayment rates of microfinance clients in Ghana

    NARCIS (Netherlands)

    Agbeko, Daniel; Block, Vincent; Omta, Onno; Velde, van der G.

    2016-01-01

    Entrepreneurial and business skills are generally considered key to microbusiness success, hence to Microfinance Institution (MFI) clients’ loan repayment as well. However, empirical evidence is largely lacking, and where present, it is inconclusive on the importance of these skills for microfinance

  1. Small Business Administration (SBA) Loan Program Performance- Charge Off Rates as a Percent of Unpaid Principal Balance (UPB) Amount by Program

    Data.gov (United States)

    Small Business Administration — Reflects charge off rates, as a percent of the UPB amounts, at the end of the fiscal year for the major loan programs and aggregate totals for the small direct and...

  2. 25 CFR 103.37 - What must the lender do to collect payment under its loan guaranty certificate or loan insurance...

    Science.gov (United States)

    2010-04-01

    ... collateral securing the loan under § 103.36(d)(2), and has a residual loss after doing so, it must send BIA... principal collateral securing the loan; or (iii) One hundred eighty calendar days after the date of the default. (b) For insured loans, after liquidating all loan collateral, the lender must submit a claim for...

  3. Consumer default risk assessment in a banking institution

    Science.gov (United States)

    Costa e Silva, Eliana; Lopes, Isabel Cristina; Correia, Aldina; Faria, Susana

    2016-12-01

    Credit scoring is an application of financial risk forecasting to consumer lending. In this study, statistical analysis is applied to credit scoring data from a financial institution to evaluate the default risk of consumer loans. The default risk was found to be influenced by the spread, the age of the consumer, the number of credit cards owned by the consumer. A lower spread, a higher number of credit cards and a younger age of the borrower are factors that decrease the risk of default. Clients receiving the salary in the same banking institution of the loan have less chances of default than clients receiving their salary in another institution. We also found that clients in the lowest income tax echelon have more propensity to default.

  4. 13 CFR 120.545 - What are SBA's policies concerning the liquidation of collateral and the sale of business loans...

    Science.gov (United States)

    2010-01-01

    ... the liquidation of collateral and the sale of business loans and physical disaster assistance loans... policies concerning the liquidation of collateral and the sale of business loans and physical disaster.... SBA or the Lender may liquidate collateral securing a loan if the loan is in default or there is no...

  5. Safety of Municipal Loan in Ukraine

    Directory of Open Access Journals (Sweden)

    Stetsenko Tetiana V.

    2014-03-01

    Full Text Available The goal of the article is justification of the necessity of legal regulation of actions of the bodies of local self-government when detecting signs of insolvency. Each stage of municipal loans management is analysed from the point of view of availability of legal rules, which do not allow making municipal loans by territorial communities of the cities with weak financial state or regulate sequence of actions of municipalities in default times. The following results were obtained: majority of legal restrictions in the sphere of local finance management are directed at prevention of ungrounded loans or have the form of sanctions, applied to local bodies, which perform their debt obligations with delay; the state formally controls the process of making municipal loans, avoiding financial responsibility; the national legislation does not contain the mechanism of regulation of actions of territorial communities, which experience difficulties when performing debt obligations. The article proves expediency of adoption of a uniform regulatory-legal act in Ukraine, which would regulate all economic relations connected with making municipal loans. This legal document shall contain a section about actions of the municipality-debtor when signs of default start to appear, announcement of default and declaration of the debtor insolvent (bankrupt. The article recommends the following structure of this section: regulation of the procedure of default announcement avoidance; announcement of default with the pre-trial restoration of the debtor’s solvency; and announcement of default with declaring the debtor bankrupt juridically.

  6. 34 CFR 668.193 - Loan servicing appeals.

    Science.gov (United States)

    2010-07-01

    ... default rate; or (2) Any cohort default rate upon which a loss of eligibility under § 668.187 is based. (b... request for preclaims or default aversion assistance to the guaranty agency; and (ii) Submit a...

  7. Evaluation Of Loan Disbursement And Repayment Of Supervised ...

    African Journals Online (AJOL)

    Evaluation Of Loan Disbursement And Repayment Of Supervised Credit ... bank as regard to loan supervision was scored low as a result of low rate of loan recovery, ... strategy to recover outstanding debts and reduce interest charge on loans.

  8. Federal Student Loan Amounts and Terms for Loans Issued in 2016-17

    Science.gov (United States)

    Project on Student Debt, 2016

    2016-01-01

    U.S. citizens or permanent residents, enrolled at least half time in a qualified program at a participating school, not in default on a prior federal student loan, and not previously convicted of a drug offense while receiving federal financial aid are eligible to apply for a student loan. The chart presented in this report summarizes the interest…

  9. Private Loans: Facts and Trends

    Science.gov (United States)

    Institute for College Access & Success, 2014

    2014-01-01

    Private loans are one of the riskiest ways to finance a college education. Like credit cards, they typically have variable interest rates. Both variable and fixed rates are higher for those who can least afford them--as high as 13% in June 2014. Private loans are not eligible for the important deferment, income-based repayment, or loan forgiveness…

  10. On strategic default and liquidity risk

    OpenAIRE

    Tambakis, Demosthenes N

    2002-01-01

    How does the uncertain provision of external finance affect investment projects' default probability and liquidity risk? In this paper, I study the strategic interaction between many creditors and a single borrower in the context of a two-period investment project requiring external credit. Loans mature in one period but the project requires two periods to complete. The key working assumptions are that creditors are risk-averse and that any uncertainty is common knowledge: information about ...

  11. Determinants of Default in P2P Lending.

    Directory of Open Access Journals (Sweden)

    Carlos Serrano-Cinca

    Full Text Available This paper studies P2P lending and the factors explaining loan default. This is an important issue because in P2P lending individual investors bear the credit risk, instead of financial institutions, which are experts in dealing with this risk. P2P lenders suffer a severe problem of information asymmetry, because they are at a disadvantage facing the borrower. For this reason, P2P lending sites provide potential lenders with information about borrowers and their loan purpose. They also assign a grade to each loan. The empirical study is based on loans' data collected from Lending Club (N = 24,449 from 2008 to 2014 that are first analyzed by using univariate means tests and survival analysis. Factors explaining default are loan purpose, annual income, current housing situation, credit history and indebtedness. Secondly, a logistic regression model is developed to predict defaults. The grade assigned by the P2P lending site is the most predictive factor of default, but the accuracy of the model is improved by adding other information, especially the borrower's debt level.

  12. Determinants of Default in P2P Lending.

    Science.gov (United States)

    Serrano-Cinca, Carlos; Gutiérrez-Nieto, Begoña; López-Palacios, Luz

    2015-01-01

    This paper studies P2P lending and the factors explaining loan default. This is an important issue because in P2P lending individual investors bear the credit risk, instead of financial institutions, which are experts in dealing with this risk. P2P lenders suffer a severe problem of information asymmetry, because they are at a disadvantage facing the borrower. For this reason, P2P lending sites provide potential lenders with information about borrowers and their loan purpose. They also assign a grade to each loan. The empirical study is based on loans' data collected from Lending Club (N = 24,449) from 2008 to 2014 that are first analyzed by using univariate means tests and survival analysis. Factors explaining default are loan purpose, annual income, current housing situation, credit history and indebtedness. Secondly, a logistic regression model is developed to predict defaults. The grade assigned by the P2P lending site is the most predictive factor of default, but the accuracy of the model is improved by adding other information, especially the borrower's debt level.

  13. Mortgage Default Risk

    DEFF Research Database (Denmark)

    Chauvet, Marcelle; Gabriel, Stuart; Lutz, Chandler

    2016-01-01

    We use Google search query data to develop a broad-based and real-time index of mortgage default risk. Unlike established indicators, our Mortgage Default Risk Index (MDRI) directly reflects households’concerns regarding their risk of mortgage default. The MDRI predicts housing returns, mortgage ...... delinquency indicators, and subprime credit default swaps. These results persist both in- and out-of-sample and at multiple data frequencies. Together, research findings suggest internet search queries yield valuable new insights into household mortgage default risk....

  14. Optional Defaultable Markets

    Directory of Open Access Journals (Sweden)

    Mohamed N. Abdelghani

    2017-10-01

    Full Text Available The paper deals with defaultable markets, one of the main research areas of mathematical finance. It proposes a new approach to the theory of such markets using techniques from the calculus of optional stochastic processes on unusual probability spaces, which was not presented before. The paper is a foundation paper and contains a number of fundamental results on modeling of defaultable markets, pricing and hedging of defaultable claims and results on the probability of default under such conditions. Moreover, several important examples are presented: a new pricing formula for a defaultable bond and a new pricing formula for credit default swap. Furthermore, some results on the absence of arbitrage for markets on unusual probability spaces and markets with default are also provided.

  15. 7 CFR 1434.18 - Loan repayments.

    Science.gov (United States)

    2010-01-01

    ... repayment rate for marketing assistance loans for honey under this part will be in effect on a short-term... AGRICULTURE LOANS, PURCHASES, AND OTHER OPERATIONS NONRECOURSE MARKETING ASSISTANCE LOAN AND LDP REGULATIONS FOR HONEY § 1434.18 Loan repayments. (a) A honey producer may repay a nonrecourse marketing assistance...

  16. 24 CFR 266.626 - Notice of default and filing an insurance claim.

    Science.gov (United States)

    2010-04-01

    ... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Notice of default and filing an... AND OTHER AUTHORITIES HOUSING FINANCE AGENCY RISK-SHARING PROGRAM FOR INSURED AFFORDABLE MULTIFAMILY PROJECT LOANS Contract Rights and Obligations Claim Procedures § 266.626 Notice of default and filing an...

  17. Determinants of Non Performing Loans in Commercial Banks: A Study of NBC Bank Dodoma Tanzania

    Directory of Open Access Journals (Sweden)

    N. Viswa Nadham

    2015-03-01

    Full Text Available The study attempts to ascertain the determinants of nonperforming loans in National Bank of Commerce. Data was collected from 152 respondents. Tables, percentages, mean and standard deviation were used to analyze data. Data collection methods adopted for the study were interview, questionnaire and documentary evidence. Interest rate, GDP, concentration of lending activities, bank’s loan supervision capacity and economic condition were investigated, and the results suggest that interest rate, GDP, bank’s loan supervision capacity and economic condition influence the level of NPLs. However, the results did not suggest that concentration of lending activities increase the level of NPLs.   The study suggests that banks should put in place a vibrant credit process that ensures proper customer selection and risk identification, robust credit analysis, proactive monitoring and clear recovery strategies for bad loans, formulate clear policy framework that addresses issues of ethical standards and check and balance credit process, organizational capacity enhancement of banks, deliberate effort to develop credit culture for managing loans ,and ensure prudent policies that govern bank loans. Since the results for this study were encouraging, the researcher encourages replicating the study for other lending institutions. In order to extend the literature on non-performing loans, the researcher suggested incorporating models of Golem effect, Social loafing, Inverted pyramid effect, Pollyanna effect and High default culture effect.  Also, basing on the merits of the study, the researcher suggests determining relationship between non-performing loans and loan size, collateral, credit culture, and credit management information system.

  18. Default Management Manual.

    Science.gov (United States)

    Dent, Richard A.

    This manual is designed to instruct administrators of the Guaranteed Student Loan (GSL) Program in how to take every step possible to administer the program effectively and to minimize the program costs of serving the high risk student. It shows schools how to work with students throughout their time in school, create ownership of the loan(s) by…

  19. Estimating dual deposit insurance premium rates and forecasting non-performing loans: Two new models

    OpenAIRE

    Yoshino, Naoyuki; Taghizadeh-Hesary, Farhad; Nili, Farhad

    2015-01-01

    Risky banks that endanger the stability of the financial system should pay higher deposit insurance premiums than healthy banks and other financial institutions that have shown good financial performance. It is necessary, therefore, to have at least a dual fair premium rate system. In this paper, we develop a model for calculating dual fair premium rates. Our definition of a fair premium rate in this paper is a rate that could cover the operational expenditures of the deposit insuring organiz...

  20. Policy impact of the Indonesian Central Bank certificate related on loan interest rate to the demand growth of property

    Science.gov (United States)

    Wirjodirdjo, B.; Asjari, H. Y.

    2018-04-01

    The Indonesian economic indicators shown a positive progress in the last three years, Foreign exchange reserves position of the end of March 2017 stood at US 121.8 billion higher than the position of the end of 2015 amounted to US 105.9 billion of the end of 2015. This reserve would ensure the resilience and maintaining sustainable Indonesian economic growth in the future. Although Indonesia’s foreign exchange is better, the structure of expenditure in the country is still less than ideal due the proportion of spending of consumer goods is far greater than the capital goods and tend to be unproductive spending. This needs to be regulated so that in the long term does not cause balance of payments deficit. Therefore, Indonesian Central Bank took a policy to raise interest rates for retail banks from 6% to 7.25% per annum gradually up to present. Policies relating to the interest rates on loans are intended to reduce the proportion of debt financing of consumer goods, however, these policies have implications to various economic sectors and one of those is property sector. A lot of research has been conducted related the impact of loan interest to the property sector but most of it is still in partial related to the ability the people to buy. However, this research has tried to see the implication of the macro Economic Policy of Indonesian Central Bank to the property sector as a systemic problem. This paper is going to present the study on the effects of these policies on the property sector, especially residence house. To obtain a comprehensive analysis and capture the relationship between interest rate policies and their impacts to the property sector, in this study the model developed and simulated using system dynamic methodology as an approach. Various scenarios are applied to the model to get an accurate information about how and when the effectiveness of the policy related to the property sector can be enforced. The result of this study can be delivered to

  1. The calibration of rating models estimation of the probability of default based on advanced pattern classification methods

    CERN Document Server

    Konrad, Paul Markus

    2014-01-01

    All across Europe, a drama of historical proportions is unfolding as the debt crisis continues to rock the worldwide financial landscape. Whilst insecurity rises, the general public, policy makers, scientists and academics are searching high and low for independent and objective analyses that may help to assess this unusual situation. For more than a century, rating agencies had developed methods and standards to evaluate and analyze companies, projects or even sovereign countries. However, due to their dated internal processes, the independence of these rating agencies is being questioned, ra

  2. Credit Default Risk and its Determinants of Microfinance Industry in ...

    African Journals Online (AJOL)

    user

    limitations prevailed in the selected 6 MFIs in Ethiopia schemed by determining the ... the probit model show that education, income, loan supervision, suitability of repayment ..... of Ethiopia as Large, Medium, and Small MFIs. ..... /sigma. 0.5177089. 0.0467682. *significant at 1%. ***significant at 10% .... businesses default.

  3. Development and Validation of Discriminant Analysis Models for Student Loan Defaultees and Non-Defaultees.

    Science.gov (United States)

    Myers, Greeley; Siera, Steven

    1980-01-01

    Default on guaranteed student loans has been increasing. The use of discriminant analysis as a technique to identify "good" v "bad" student loans based on information available from the loan application is discussed. Research to test the ability of models to such predictions is reported. (Author/MLW)

  4. Neuro-Based Artificial Intelligence Model for Loan Decisions

    OpenAIRE

    Shorouq F. Eletter; Saad G. Yaseen; Ghaleb A. Elrefae

    2010-01-01

    Problem statement: Despite the increase in consumer loans defaults and competition in the banking market, most of the Jordanian commercial banks are reluctant to use artificial intelligence software systems for supporting loan decisions. Approach: This study developed a proposed model that identifies artificial neural network as an enabling tool for evaluating credit applications to support loan decisions in the Jordanian Commercial banks. A multi-layer feed-forward neural network with backpr...

  5. Corporate boards and bank loan contracting

    OpenAIRE

    Francis, Bill; Hasan, Iftekhar; Koetter, Michael; Wu, Qiang

    2012-01-01

    We investigate the role of corporate boards in bank loan contracting. We find that when corporate boards are more independent, both price and nonprice loan terms (e.g., interest rates, collateral, covenants, and performance-pricing provisions) are more favorable, and syndicated loans comprise more lenders. In addition, board size, audit committee structure, and other board characteristics influence bank loan prices. However, they do not consistently affect all nonprice loan terms except for a...

  6. A new Loan-Stock Financial Instrument

    OpenAIRE

    Morozovsky, Alexander; Narasimhan, Rajan; Kholodenko, Yuri

    2000-01-01

    A new financial instrument (a new kind of a loan) is introduced. The loan-stock instrument (LSI) combines fixed rate instruments (loans, etc.) with other financial instruments that have higher volatilities and returns (stocks, mutual funds, currencies, derivatives, options, etc.). This new loan depends on the value of underlying security (for example, stock) in such a way that when underlying security increases, the value of loan decreases and backwards. The procedure to create a risk free po...

  7. Understanding Loan Aversion in Education

    Directory of Open Access Journals (Sweden)

    Angela Boatman

    2017-01-01

    Full Text Available Although prior research has suggested that some students may be averse to taking out loans to finance their college education, there is little empirical evidence showing the extent to which loan aversion exists or how it affects different populations of students. This study provides the first large-scale quantitative evidence of levels of loan aversion in the United States. Using survey data collected on more than 6,000 individuals, we examine the frequency of loan aversion in three distinct populations. Depending on the measure, between 20 and 40% of high school seniors exhibit loan aversion with lower rates among community college students and adults not in college. Women are less likely to express loan-averse attitudes than men, and Hispanic respondents are more likely to be loan averse than White respondents.

  8. Defaults and Donations

    DEFF Research Database (Denmark)

    Altmann, Steffen; Falk, Armin; Heidhues, Paul

    We study how website defaults affect consumer behavior in the domain of charitable giving. In a field experiment that was conducted on a large platform for making charitable donations over the web, we exogenously vary the default options in two distinct choice dimensions. The first pertains...

  9. Sovereign default risk assessment

    NARCIS (Netherlands)

    Rijken, H.A.; Altman, E.I.

    2013-01-01

    We propose a new approach toward assessing sovereign risk by examining rigorously the health and aggregate default risk of a nation's private corporate sector. Models can be utilised to measure the probability of default of the non-financial sector cumulatively for five years, both as an absolute

  10. 13 CFR 107.845 - Maximum rate of amortization on Loans and Debt Securities.

    Science.gov (United States)

    2010-01-01

    ... ADMINISTRATION SMALL BUSINESS INVESTMENT COMPANIES Financing of Small Businesses by Licensees Structuring Licensee's Financing of An Eligible Small Business: Terms and Conditions of Financing § 107.845 Maximum... 13 Business Credit and Assistance 1 2010-01-01 2010-01-01 false Maximum rate of amortization on...

  11. Determinants of default in p2p lending: the Mexican case

    Directory of Open Access Journals (Sweden)

    Carlos Eduardo Canfield

    2018-03-01

    Full Text Available P2P lending is a new method of informal finance that uses the internet to directly connect borrowers with on-line communities. With a unique dataset provided by Prestadero, the largest on-line lending platform with national presence in Mexico, this research explores the effect of credit scores and other variables related to loan and borrower´s traits, in determining default behavior in P2P lending. Moreover, using a logistic regression model, it tested whether investors might benefit from screening loan applicants by gender after controlling for loan quality. The results showed that information provided by the platform is relevant for analyzing credit risk, yet not conclusive. In congruence with the literature, on a scale going from the safest to the riskiest, loan quality is positively associated with default behavior. Other determinants for increasing the odds of default are the payment-to-income ratio and refinancing on the same platform. On the contrary loan purpose and being a female applicant reduce such odds. No categorical evidence for differential default behavior was found for gender´s case-discrimination, under equal credit conditions. However it was found that controlling for loan quality, women have longer loan survival times than men. This is one of the first studies about debt crowdfunding in Latin America and Mexico. Implications for lenders, researchers and policy-makers are also discussed.

  12. Default contagion risks in Russian interbank market

    Science.gov (United States)

    Leonidov, A. V.; Rumyantsev, E. L.

    2016-06-01

    Systemic risks of default contagion in the Russian interbank market are investigated. The analysis is based on considering the bow-tie structure of the weighted oriented graph describing the structure of the interbank loans. A probabilistic model of interbank contagion explicitly taking into account the empirical bow-tie structure reflecting functionality of the corresponding nodes (borrowers, lenders, borrowers and lenders simultaneously), degree distributions and disassortativity of the interbank network under consideration based on empirical data is developed. The characteristics of contagion-related systemic risk calculated with this model are shown to be in agreement with those of explicit stress tests.

  13. Race and Subprime Loan Pricing

    OpenAIRE

    Hernandez, Ruben; Owyang, Michael; Ghent, Andra

    2011-01-01

    In this paper we investigate whether race and ethnicity influenced subprime loan pricing during 2005, the peak of the subprime mortgage expansion. We combine loan-level data on the performance of non-prime securitized mortgages with individual- and neighborhood-level data on racial and ethnic characteristics for metropolitan areas in California and Florida. Using a model of rate determination that accounts for predicted loan performance, we evaluate the presence of disparate impact and dispar...

  14. Implementing OWL Defaults

    National Research Council Canada - National Science Library

    Kolovski, Vladimir; Parsia, Bijan; Katz, Yarden

    2006-01-01

    ...) have often requested some form of non-monotonic reasoning. In this paper, we present preliminary optimizations and an implementation of a restricted version of Reiter's default logic as an extension to the description logic fragment of OWL, OWL DL...

  15. LOAN BROKERS

    Directory of Open Access Journals (Sweden)

    Adela IONESCU

    2014-05-01

    Full Text Available A loan is probably the most important financial decision we make in life. In a time when lack of time affects us in every way, including financially, we can only appeal to specialists if we want fast, reliable and quality long-term services. „The notion of “creditor” includes all legal entities, branches of credit institution and nonbankingfinancial institutions that operate in Romania and grant or undertake to grant loans in itscommercial of professional activity”. In the case of loans, the "specialist" has been called loan broker. Loan broker is a person trained in intermediating bank loans who offers advice on choosing the best financial solutions for each client. Through partnerships with banks in Romania, the broker has access to their credit products and assist customers in choosing the loan that best suits their financial needs and possibilities. Moreover, the broker will help in preparing loan application to be submitted to the bank and pursue it to its completion. Loan broker can be defined as the person authorized by the bank or non-bank financial institutions to promote their products through direct contact with natural or legal persons wishing to contract a loan, without any of the parties to have exclusivity. There can be defined as an independent bank or non-bank financial institution, as an intermediary between customers and banks. Through its financial advisors , the company helps customers overcome the difficulty of understanding the credit products, difficulties arising from the multitude of factors that compose such a product, especially in the case of a housing loan or mortgage. Each financial institution is doing everything possible through such partnerships to attract the largest possible portfolio of clients, therefore is developing a real network of brokers to be partners for local or national level (depending on the sites coverage of the branches of each institution on one or more types of credit products. The

  16. “Time for a Change”: Loan conditions and bank behavior when firms switch banks

    OpenAIRE

    Ongena, Steven; Ioannidou, Vasso

    2010-01-01

    This paper studies loan conditions when firms switch banks. Recent theoretical work on bank–firm relationships motivates our matching models. The dynamic cycle of the loan rate that we uncover is as follows: a loan granted by a new (outside) bank carries a loan rate that is significantly lower than the rates on comparable new loans from the firm's current (inside) banks. The new bank initially decreases the loan rate further but eventually ratchets it up sharply. Other loan conditions follow ...

  17. Default from tuberculosis treatment in Tashkent, Uzbekistan; who are these defaulters and why do they default?

    NARCIS (Netherlands)

    Hasker, Epco; Khodjikhanov, Maksad; Usarova, Shakhnoz; Asamidinov, Umid; Yuldashova, Umida; van der Werf, Marieke J.; Uzakova, Gulnoz; Veen, Jaap

    2008-01-01

    In Tashkent (Uzbekistan), TB treatment is provided in accordance with the DOTS strategy. Of 1087 pulmonary TB patients started on treatment in 2005, 228 (21%) defaulted. This study investigates who the defaulters in Tashkent are, when they default and why they default. We reviewed the records of 126

  18. The determinants of loan contracts to business firms

    OpenAIRE

    Pham, Thi Thu Trà; Lensink, Robert

    2006-01-01

    This paper deals with loan contracting from a private bank in Vietnam. We focus on the main loan contract features that the bank uses in lending to business firms, namely loan maturity, collateral and loan interest rate. Based upon the simultaneous equation model of Dennis et al. (2000) and the bank’s loan contracting policies, we examine the possible interdependency of the three different loan contract terms. Also, we try to determine which firm characteristics and exogenous factors are rele...

  19. Time of default in tuberculosis patients on directly observed treatment.

    Science.gov (United States)

    Pardeshi, Geeta S

    2010-09-01

    Default remains an important challenge for the Revised National Tuberculosis Control Programme, which has achieved improved cure rates. This study describes the pattern of time of default in patients on DOTS. Tuberculosis Unit in District Tuberculosis Centre, Yavatmal, India; Retrospective cohort study. This analysis was done among the cohort of patients of registered at the Tuberculosis Unit during the year 2004. The time of default was assessed from the tuberculosis register. The sputum smear conversion and treatment outcome were also assessed. Kaplan-Meier plots and log rank tests. Overall, the default rate amongst the 716 patients registered at the Tuberculosis Unit was 10.33%. There was a significant difference in the default rate over time between the three DOTS categories (log rank statistic= 15.49, P=0.0004). Amongst the 331 smear-positive patients, the cumulative default rates at the end of intensive phase were 4% and 16%; while by end of treatment period, the default rates were 6% and 31% in category I and category II, respectively. A majority of the smear-positive patients in category II belonged to the group 'treatment after default' (56/95), and 30% of them defaulted during re-treatment. The sputum smear conversion rate at the end of intensive phase was 84%. Amongst 36 patients without smear conversion at the end of intensive phase, 55% had treatment failure. Patients defaulting in intensive phase of treatment and without smear conversion at the end of intensive phase should be retrieved on a priority basis. Default constitutes not only a major reason for patients needing re-treatment but also a risk for repeated default.

  20. Denying Loan Access: The Student-Level Consequences When Community Colleges Opt out of the Stafford Loan Program. A CAPSEE Working Paper

    Science.gov (United States)

    Wiederspan, Mark

    2015-01-01

    The degree to which students are able to make adequate repayments on their student loans and avoid default is of special concern for colleges. If too many former students go into default, the college will face sanctions by the federal government and lose eligibility to provide currently enrolled students federal financial aid, such as the Pell…

  1. Uranium loans

    International Nuclear Information System (INIS)

    Anon.

    1990-01-01

    When NUEXCO was organized in 1968, its founders conceived of a business based on uranium loans. The concept was relatively straightforward; those who found themselves with excess supplies of uranium would deposit those excesses in NUEXCO's open-quotes bank,close quotes and those who found themselves temporarily short of uranium could borrow from the bank. The borrower would pay interest based on the quantity of uranium borrowed and the duration of the loan, and the bank would collect the interest, deduct its service fee for arranging the loan, and pay the balance to those whose deposits were borrowed. In fact, the original plan was to call the firm Nuclear Bank Corporation, until it was discovered that using the word open-quotes Bankclose quotes in the name would subject the firm to various US banking regulations. Thus, Nuclear Bank Corporation became Nuclear Exchange Corporation, which was later shortened to NUEXCO. Neither the nuclear fuel market nor NUEXCO's business developed quite as its founders had anticipated. From almost the very beginning, the brokerage of uranium purchases and sales became a more significant activity for NUEXCO than arranging uranium loans. Nevertheless, loan transactions have played an important role in the international nuclear fuel market, requiring the development of special knowledge and commercial techniques

  2. Default from tuberculosis treatment in Tashkent, Uzbekistan; who are these defaulters and why do they default?

    Science.gov (United States)

    Hasker, Epco; Khodjikhanov, Maksad; Usarova, Shakhnoz; Asamidinov, Umid; Yuldashova, Umida; van der Werf, Marieke J; Uzakova, Gulnoz; Veen, Jaap

    2008-07-22

    In Tashkent (Uzbekistan), TB treatment is provided in accordance with the DOTS strategy. Of 1087 pulmonary TB patients started on treatment in 2005, 228 (21%) defaulted. This study investigates who the defaulters in Tashkent are, when they default and why they default. We reviewed the records of 126 defaulters (cases) and 132 controls and collected information on time of default, demographic factors, social factors, potential risk factors for default, characteristics of treatment and recorded reasons for default. Unemployment, being a pensioner, alcoholism and homelessness were associated with default. Patients defaulted mostly during the intensive phase, while they were hospitalized (61%), or just before they were to start the continuation phase (26%). Reasons for default listed in the records were various, 'Refusal of further treatment' (27%) and 'Violation of hospital rules' (18%) were most frequently recorded. One third of the recorded defaulters did not really default but continued treatment under 'non-DOTS' conditions. Whereas patient factors such as unemployment, being a pensioner, alcoholism and homelessness play a role, there are also system factors that need to be addressed to reduce default. Such system factors include the obligatory admission in TB hospitals and the inadequately organized transition from hospitalized to ambulatory treatment.

  3. Default from tuberculosis treatment in Tashkent, Uzbekistan; Who are these defaulters and why do they default?

    Directory of Open Access Journals (Sweden)

    Yuldashova Umida

    2008-07-01

    Full Text Available Abstract Background In Tashkent (Uzbekistan, TB treatment is provided in accordance with the DOTS strategy. Of 1087 pulmonary TB patients started on treatment in 2005, 228 (21% defaulted. This study investigates who the defaulters in Tashkent are, when they default and why they default. Methods We reviewed the records of 126 defaulters (cases and 132 controls and collected information on time of default, demographic factors, social factors, potential risk factors for default, characteristics of treatment and recorded reasons for default. Results Unemployment, being a pensioner, alcoholism and homelessness were associated with default. Patients defaulted mostly during the intensive phase, while they were hospitalized (61%, or just before they were to start the continuation phase (26%. Reasons for default listed in the records were various, 'Refusal of further treatment' (27% and 'Violation of hospital rules' (18% were most frequently recorded. One third of the recorded defaulters did not really default but continued treatment under 'non-DOTS' conditions. Conclusion Whereas patient factors such as unemployment, being a pensioner, alcoholism and homelessness play a role, there are also system factors that need to be addressed to reduce default. Such system factors include the obligatory admission in TB hospitals and the inadequately organized transition from hospitalized to ambulatory treatment.

  4. 7 CFR 1738.30 - Rural broadband access loans and loan guarantees.

    Science.gov (United States)

    2010-01-01

    ... interest at a rate set by the lender consistent with the current applicable market rate for a loan of... Derivative or any Guaranteed-Amount Debt Derivative; or (B) Any holder of the Guaranteed Loan Note or any Guaranteed Loan Portion Note or any Derivative, as the case may be, having a claim to payments on the...

  5. Greener by Default

    DEFF Research Database (Denmark)

    Sunstein, Cass R.; Reisch, Lucia A.

    . The underlying reasons include the power of suggestion; inertia and procrastination; and loss aversion. If well-chosen, climate-friendly defaults are likely to have large effects in reducing the economic and environmental harms associated with various products and activities. In deciding whether to establish...

  6. Temporalized Epistemic Default Logic

    NARCIS (Netherlands)

    van der Hoek, W.; Meyer, J.J.; Treur, J.; Gabbay, D.

    2001-01-01

    The nonmonotonic logic Epistemic Default Logic (EDL) [Meyer and van der Hoek, 1993] is based on the metaphore of a meta-level architecture. It has already been established [Meyer and van der Hoek, 1993] how upward reflection can be formalized by a nonmonotonic entailment based on epistemic states,

  7. Temporalizing Epistemic Default Logic

    NARCIS (Netherlands)

    van der Hoek, Wiebe; Meyer, John Jules; Treur, Jan

    1998-01-01

    We present an epistemic default logic, based on the metaphore of a meta-level architecture. Upward reflection is formalized by a nonmonotonic entailment relation, based on the objective facts that are either known or unknown at the object level. Then, the meta (monotonic) reasoning process generates

  8. Assessing the Sectoral Dynamics of Non-performing Loans: Signs from Financial and Real Economy

    Directory of Open Access Journals (Sweden)

    Bogdan MOINESCU

    2012-02-01

    Full Text Available The paper is an attempt at studying the mechanisms whereby the economic activity dynamics and money market conditions affect the developments in nonperforming loan ratio across the main activity sectors, namely agriculture, industry, commerce and constructions. The default rates are modeled both on the basis of a linear approach and via a logistic function, starting from the methodological solution of the reputed conditional risk model referred to as Credit Portfolio View. The robustness of the analytical framework is ensured by applying SUR estimation method for simultaneous systems of equations in combination with that of autoregressive vectors. The empirical analysis is based on unique set of quarterly data, which allows for assessing the quality of non-financial companies loan repayment. The relevant explanatory variables were used in various configurations and lags for constructing several macroeconomic credit risk models.

  9. The economy and loss given default: evidence from two UK retail lending data sets

    OpenAIRE

    Mindy Leow; Christophe Mues; Lyn Thomas

    2014-01-01

    Loss given default (LGD) models predict losses as a proportion of the outstanding loan, in the event a debtor goes into default. The literature on corporate sector LGD models suggests LGD is correlated to the economy and so changes in the economy could translate into different predictions of losses. In this work, the role of macroeconomic variables in loan-level retail LGD models is examined by testing the inclusion of macroeconomic variables in two different retail LGD models: a two-stage mo...

  10. Default risk in project finance

    NARCIS (Netherlands)

    Klompjan, R.; Wouters, Marc

    2002-01-01

    Understanding default risk in project finance is relevant to investors. This article investigates which factors are most strongly associated with the occurrence of project finance default, using data from 210 projects, of which 37 were in default. The authors found that the use of proven technology,

  11. 24 CFR 320.15 - Default.

    Science.gov (United States)

    2010-04-01

    ... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Default. 320.15 Section 320.15... SECURITIES Pass-Through Type Securities § 320.15 Default. (a) Issuer default. Any failure or inability of the... default of the issuer. (b) Action upon default. Upon any default by the issuer, the Association may: (1...

  12. An Empirical Comparison of Default Swap Pricing Models

    NARCIS (Netherlands)

    P. Houweling (Patrick); A.C.F. Vorst (Ton)

    2002-01-01

    textabstractAbstract: In this paper we compare market prices of credit default swaps with model prices. We show that a simple reduced form model with a constant recovery rate outperforms the market practice of directly comparing bonds' credit spreads to default swap premiums. We find that the

  13. 34 CFR 682.411 - Lender due diligence in collecting guaranty agency loans.

    Science.gov (United States)

    2010-07-01

    ... 34 Education 3 2010-07-01 2010-07-01 false Lender due diligence in collecting guaranty agency... due diligence in collecting guaranty agency loans. (a) General. In the event of delinquency on an FFEL... certification. (n) Due diligence for endorsers. (1) Before filing a default claim on a loan with an endorser...

  14. Fracking and mortgage default

    OpenAIRE

    Cunningham, Christopher R.; Gerardi, Kristopher; Shen, Yannan

    2017-01-01

    This paper finds that increased hydraulic fracturing, or "fracking", along the Marcellus Formation in Pennsylvania had a significant, negative effect on mortgage credit risk. Controlling for potential endogeneity bias by utilizing the underlying geologic properties of the land as instrumental variables for fracking activity, we find that mortgages originated before the 2007 boom in shale gas, were, post-boom, significantly less likely to default in areas with greater drilling activity. The we...

  15. 42 CFR 417.937 - Loan and loan guarantee provisions.

    Science.gov (United States)

    2010-10-01

    ... 42 Public Health 3 2010-10-01 2010-10-01 false Loan and loan guarantee provisions. 417.937 Section... HEALTH CARE PREPAYMENT PLANS Administration of Outstanding Loans and Loan Guarantees § 417.937 Loan and loan guarantee provisions. (a) Disbursement of loan proceeds. The principal amount of any loan made or...

  16. 7 CFR 1751.103 - Loan and loan advance requirements.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 11 2010-01-01 2010-01-01 false Loan and loan advance requirements. 1751.103 Section... Telecommunications Modernization Plan § 1751.103 Loan and loan advance requirements. (a) For information about loan... February 13, 1996, RUS will make RUS hardship loans, RUS cost-of-money loans, and RTB loans for facilities...

  17. Credit Default Swap Valuation with Counterparty Risk

    OpenAIRE

    Leung, Seng Yuen; Kwok, Yue Kuen

    2005-01-01

    Using the reduced form framework with inter-dependent default correlation, we perform valuation of credit default swap with counterparty risk. The inter-dependent default risk structure between the protection buyer, protection seller and the reference entity in a credit default swap are characterized by their correlated default intensities, where the default intensity of one party increases when the default of another party occurs. We explore how settlement risk and replacement cost affect th...

  18. Determinants Of Loan Repayment Ability Of Farmers In Kogi State ...

    African Journals Online (AJOL)

    This study evaluates socio-economic factors that could predict repayment ability, quantify the effects of those factors and device a method to curb or manage default in agriculture and/or other credit lending. Data for the analysis were obtained by interviewing a sample of loan beneficiary farmers cooperative society members ...

  19. The Smart Approach to Student Loans and Consumer Debt.

    Science.gov (United States)

    Missouri State Dept. of Higher Education, Jefferson City.

    This brochure contains information about student loans for college applicants and students in Missouri. It is a resource to assist borrowers in making smart repayment decisions and in understanding the options to avoid delinquency and default. Things to consider before one borrows, how to increase one's resources, and how to decrease one's…

  20. Student Loan Programs. As Federal Costs of Loan Consolidation Rise, Other Options Should be Examined. Report to Congressional Requesters.

    Science.gov (United States)

    General Accounting Office, Washington, DC.

    In this report GAO recommends that the Secretary of Education assess the advantages of consolidation loans for borrowers and the government in light of program costs and identify options for reducing federal costs. Options could include targeting the program to borrowers at risk of default and extending existing consolidation alternatives to more…

  1. Enhancing Cooperative Loan Scheme Through Automated Loan ...

    African Journals Online (AJOL)

    2013-03-01

    Mar 1, 2013 ... Financial transactions through manual system of operation .... Integrated Financial Accounting. The accounting processes for loans are supported within Loans ... principal and interest, and print checks, payment receipts, or ...

  2. Understanding Emerging Market Sovereign Bond Yield Spread: Role of Default and Non-Default Determinants

    Directory of Open Access Journals (Sweden)

    Adelia Surya Pratiwi

    2015-04-01

    Full Text Available This paper is motivated by the fact that emerging market assets size has been expanding and trying to use sovereign debt market as part of capital market as main research focus. It is highlighting the distinction between default and non-default determinants and examining their significance in explaining emerging market sovereign bond yield spread. Using Cross-Sectional Fixed-Effect Panel Estimator, we found that both default (as proxied by Credit Rating and Outlook Index and non-default (as proxied by 3-month Fed Funds Futures determinants has significant explanatory power to sovereign bond yield spread. Extensively, we also found the significance to add volatility of 3-month Fed Funds Futures and Fed Target Rate basis and volatility of advanced stock markets as variables to stand for non-default determinants in the model. The significance of the latter model is strengthened by higher forecasting as well as indicates the significant role of US market to emerging market sovereign bond market.

  3. 45 CFR 672.10 - Default order.

    Science.gov (United States)

    2010-10-01

    ... 45 Public Welfare 3 2010-10-01 2010-10-01 false Default order. 672.10 Section 672.10 Public... HEARING PROCEDURES § 672.10 Default order. (a) Default. The Presiding Officer may find a party in default.... No finding of default on the basis of a failure to appear at a hearing shall be made against the...

  4. 40 CFR 22.17 - Default.

    Science.gov (United States)

    2010-07-01

    ... 40 Protection of Environment 1 2010-07-01 2010-07-01 false Default. 22.17 Section 22.17 Protection... Procedures § 22.17 Default. (a) Default. A party may be found to be in default: after motion, upon failure to... hearing. Default by respondent constitutes, for purposes of the pending proceeding only, an admission of...

  5. 40 CFR 305.24 - Default order.

    Science.gov (United States)

    2010-07-01

    ... 40 Protection of Environment 27 2010-07-01 2010-07-01 false Default order. 305.24 Section 305.24... Default order. (a) Default. A party may be found to be in default: after motion, upon failure of the... default on the basis of failure to appear at a hearing shall be made against the Claims Official unless...

  6. Sato Processes in Default Modeling

    DEFF Research Database (Denmark)

    Kokholm, Thomas; Nicolato, Elisa

    2010-01-01

    In reduced form default models, the instantaneous default intensity is the classical modeling object. Survival probabilities are then given by the Laplace transform of the cumulative hazard defined as the integrated intensity process. Instead, recent literature tends to specify the cumulative haz...

  7. Default options and training participation

    NARCIS (Netherlands)

    Borghans, L.; Golsteyn, B.H.H.

    2013-01-01

    This paper analyzes whether defaults affect the choice for courses followed at work. In addition, we analyze whether the size of the default effect varies with employees’ personality and skill-deficiencies. We perform an experiment in which workers are hypothetically offered three courses which they

  8. Default options and training participation

    NARCIS (Netherlands)

    Borghans, L.; Golsteyn, B.H.H.

    2013-01-01

    This paper analyzes whether defaults affect the choice for courses followed at work. In addition, we analyze whether the size of the default effect varies with employees' personality and skill- deficiencies. We perform an experiment in which workers are hypothetically offered three courses which

  9. Sato Processes in Default Modeling

    DEFF Research Database (Denmark)

    Kokholm, Thomas; Nicolato, Elisa

    In reduced form default models, the instantaneous default intensity is classically the modeling object. Survival probabilities are then given by the Laplace transform of the cumulative hazard defined as the integrated intensity process. Instead, recent literature has shown a tendency towards...

  10. Default risk modeling with position-dependent killing

    Science.gov (United States)

    Katz, Yuri A.

    2013-04-01

    Diffusion in a linear potential in the presence of position-dependent killing is used to mimic a default process. Different assumptions regarding transport coefficients, initial conditions, and elasticity of the killing measure lead to diverse models of bankruptcy. One “stylized fact” is fundamental for our consideration: empirically default is a rather rare event, especially in the investment grade categories of credit ratings. Hence, the action of killing may be considered as a small parameter. In a number of special cases we derive closed-form expressions for the entire term structure of the cumulative probability of default, its hazard rate, and intensity. Comparison with historical data on aggregate global corporate defaults confirms the validity of the perturbation method for estimations of long-term probability of default for companies with high credit quality. On a single company level, we implement the derived formulas to estimate the one-year likelihood of default of Enron on a daily basis from August 2000 to August 2001, three months before its default, and compare the obtained results with forecasts of traditional structural models.

  11. Conceptual and Statistical Issues Regarding the Probability of Default and Modeling Default Risk

    Directory of Open Access Journals (Sweden)

    Emilia TITAN

    2011-03-01

    Full Text Available In today’s rapidly evolving financial markets, risk management offers different techniques in order to implement an efficient system against market risk. Probability of default (PD is an essential part of business intelligence and customer relation management systems in the financial institutions. Recent studies indicates that underestimating this important component, and also the loss given default (LGD, might threaten the stability and smooth running of the financial markets. From the perspective of risk management, the result of predictive accuracy of the estimated probability of default is more valuable than the standard binary classification: credible or non credible clients. The Basle II Accord recognizes the methods of reducing credit risk and also PD and LGD as important components of advanced Internal Rating Based (IRB approach.

  12. Interbank lending, network structure and default risk contagion

    Science.gov (United States)

    Zhang, Minghui; He, Jianmin; Li, Shouwei

    2018-03-01

    This paper studies the default risk contagion in banking systems based on a dynamic network model with two different kinds of lenders' selecting mechanisms, namely, endogenous selecting (ES) and random selecting (RS). From sensitivity analysis, we find that higher risk premium, lower initial proportion of net assets, higher liquid assets threshold, larger size of liquidity shocks, higher proportion of the initial investments and higher Central Bank interest rates all lead to severer default risk contagion. Moreover, the autocorrelation of deposits and lenders' selecting probability have non-monotonic effects on the default risk contagion, and the effects differ under two mechanisms. Generally, the default risk contagion is much severer under RS mechanism than that of ES, because the multi-money-center structure generated by ES mechanism enables borrowers to borrow from more liquid banks with lower interest rates.

  13. 44 CFR 206.367 - Loan repayment.

    Science.gov (United States)

    2010-10-01

    ... 44 Emergency Management and Assistance 1 2010-10-01 2010-10-01 false Loan repayment. 206.367 Section 206.367 Emergency Management and Assistance FEDERAL EMERGENCY MANAGEMENT AGENCY, DEPARTMENT OF... interest, P=the principal amount disbursed; R=the interest rate of the loan; and, T=the outstanding term in...

  14. Mortgage loans: an analysis of the portfolios of the largest banks in Brazil

    Directory of Open Access Journals (Sweden)

    Bruno Vinícius Ramos Fernandes

    2013-05-01

    Full Text Available Given the current macroeconomic environment experienced in Brazil, where inflation has stabilized and the basic interest rate of the economy is in one of their historical lows, demand for mortgages is increasing. In this context, the mortgage is presented with great emphasis to meet the demand for purchasing housing in addition to being a catalyst for the reduction of the high housing deficit. From a descriptive and empirical-analytic was analyzed the mortgage loan portfolio of the largest banks of the country between the years 2001 and 2010 through Quarterly Financial Information (IFT available on the Central Bank website. It was settled a comparative relationship between the data in order to check the development of mortgage portfolios over the years and the factors that influenced this evolution, and evaluate the timeliness and quality of those loans. For the evolution of the portfolio there was an economic context in which Brazil was included in the period, and observed that for most of these operations are long term the banks are more exposed to market risk. With regard to credit risk parse that, over the years, Brazilian banks are presenting a mortgage loan portfolio with lower risk, and it is found that institutions with real estate credits with higher levels of portfolio risk are subject to have higher losses on such operations in the possibility of default.

  15. 76 FR 31217 - Single Family Housing Guaranteed Loan Program

    Science.gov (United States)

    2011-05-31

    ... Farm Service Agency 7 CFR Part 1980 RIN 0575-AC83 Single Family Housing Guaranteed Loan Program... the Rural Housing Service (RHS) Section 502 Single Family Housing Guaranteed Loan Program (SFHGLP) by eliminating the lender's published Department of Veterans Affairs (VA) rate for first mortgage loans with no...

  16. 48 CFR 252.217-7009 - Default.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 3 2010-10-01 2010-10-01 false Default. 252.217-7009... Clauses 252.217-7009 Default. As prescribed in 217.7104(a), use the following clause: Default (DEC 1991... of default to the Contractor, terminate the whole or any part of a job order if the Contractor fails...

  17. 24 CFR 241.1235 - Cross default.

    Science.gov (United States)

    2010-04-01

    ... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Cross default. 241.1235 Section 241... Rights and Obligations § 241.1235 Cross default. In the event the borrower commits a default under a prior recorded insured mortgage and the holder thereof initiates a foreclosure proceeding, said default...

  18. 40 CFR 209.24 - Default order.

    Science.gov (United States)

    2010-07-01

    ... 40 Protection of Environment 24 2010-07-01 2010-07-01 false Default order. 209.24 Section 209.24... Orders Issued Under Section 11(d) of the Noise Control Act § 209.24 Default order. (a) Default. Respondent may be found to be in default upon failure to comply with a prehearing or hearing ruling of the...

  19. The Effectiveness of Corporate Boards: Evidence from Bank Loan Contracting

    OpenAIRE

    Francis, Bill; Hasan, Iftekhar; Koetter, Michael; Wu, Qiang

    2009-01-01

    This paper investigates the role of corporate boards in bank loan contracting. We find that when corporate boards are more independent, both price and non-price loan terms (e.g., interest rates, collateral, covenants and performance pricing) are more favorable and syndicated loans comprise more lenders. In addition, board size, board diversity, audit committee structure and other director characteristics also influence bank loan price. However they do not consistently affect all non-price loa...

  20. WHO Multidrug Therapy for Leprosy: Epidemiology of Default in Treatment in Agra District, Uttar Pradesh, India

    Science.gov (United States)

    Kumar, Anil; Girdhar, Anita; Chakma, Joy Kumar; Girdhar, Bhuwneswar Kumar

    2015-01-01

    Aim. To study the magnitude of default, time of default, its causes, and final clinical outcome. Methods. Data collected in active surveys in Agra is analyzed. Patients were given treatment after medical confirmation and were followed up. The treatment default and other clinical outcomes were recorded. Results. Patients who defaulted have comparable demographic characteristics. However, among defaulters more women (62.7% in PB, 42.6% in MB) were seen than those in treatment completers (PB 52.7% and MB 35.9%). Nerve involvement was high in treatment completers: 45.7% in PB and 91.3% in MB leprosy. Overall default rate was lower (14.8%) in ROM than (28.8%) in standard MDT for PB leprosy (χ 1 2 = 11.6, P = 0.001) and also for MB leprosy: 9.1% in ROM compared to 34.5% in MDT (χ 1 2 = 6.0, P = 0.015). Default rate was not different (28.8% versus 34.5%, P > 0.05) in both types of leprosy given MDT. Most patients defaulted at early stage of treatment and mainly due to manageable side effects. Conclusion. The default in standard MDT both for PB and MB leprosy was observed to be significantly higher than in ROM treatment. Most defaults occurred at early stage of treatment and major contribution of default is due to side effects like drowsiness, weakness, vomiting, diarrhea, and so forth, related to poor general health. Although about half of the defaulters were observed to be cured 2.2% in PB-MDT and 10.9% of MB-MDT developed disability. This is an issue due to default. Attempts are needed to increase treatment compliance. The use of specially designed disease related health education along with easily administered drug regimens may help to reduce default. PMID:25705679

  1. Estimating the Probabilities of Default for Callable Bonds: A Duffie-Singleton Approach

    OpenAIRE

    David Wang

    2005-01-01

    This paper presents a model for estimating the default risks implicit in the prices of callable corporate bonds. The model considers three essential ingredients in the pricing of callable corporate bonds: stochastic interest rate, default risk, and call provision. The stochastic interest rate is modeled as a square-root diffusion process. The default risk is modeled as a constant spread, with the magnitude of this spread impacting the probability of a Poisson process governing the arrival of ...

  2. THE DETERMINANTS OF HOUSEHOLD DEBT DEFAULT

    OpenAIRE

    ALFARO, RODRIGO; GALLARDO, NATALIA

    2012-01-01

    In this paper, we study household debt default behavior in Chile using survey data. Previous research in this area suggests financial and personal variables help estimate individual and group probabilities of default. We study mortgage and consumer default separately, as the default decisions and overall borrower behavior are different for each type of debt. Our study finds that income and income-related variables are the only significant and robust variables that explain default for both typ...

  3. [A study on English loan words in French plastic surgery].

    Science.gov (United States)

    Hansson, E; Tegelberg, E

    2014-10-01

    The French language is less and less used as an international scientific language and many French researchers publish their work in English. Nowadays, Annales de Chirurgie Plastique Esthétique is the only international plastic surgical journal published completely in French. The use of English loan words in French plastic surgery has never been studied. The aim of this study was to describe the frequency and types of English loan words in French plastic surgery. A corpus consisting of all the articles in a number of Annales de Chirurgie Plastique Esthethique, chosen by default, was created. The frequency of English loan words was calculated and the types of words were analysed. The corpus contains 367 (0.8%) English loan words. Most of them are non-integrated loan words and calques. The majority of the plastic surgical loan words describe surgical techniques. The French plastic surgical language seems to be influenced by English. The usage of loan words does not always follow the recommendations and the usage is sometimes ambiguous. Copyright © 2014 Elsevier Masson SAS. All rights reserved.

  4. Determinants of Banking Credit Default in Indonesia: A Comparative Analysis

    Directory of Open Access Journals (Sweden)

    Muhammad Imaduddin

    2008-08-01

    Full Text Available This study aims to analyze the determinants of Islamic banking credit default compared with conventional banking in Indonesia. This study utilized timeseries analysis, by which ordinary least square method is adopted. 40 monthly data observations from January 2003 until April 2006 are used. The study is divided into two models, namely Islamic banking model and conventional banking model. The values of non-performing financing (NPF in Islamic banking and non-performing loan (NPL in conventional banking are treated as the dependent variables. The results showed that two-month lagged of non-performing financing (NPF, total asset (ASSET, the amount of thirdparty-funds (TPF, one-month lagged of total financing (DFIN, and growthof gross-domestic product (GDPG variables have significant impact to the ratio of non-performing financing (NPF in Islamic banking. Meanwhile, the three-month lagged of non-performing loan (DDDNPL, total asset (CASSET, three-month as well as two-month period lagged of total loan (DDDCRED and DDCRED, inter-bank money market (PUAB, and growth of gross-domestic (GDPG are significant to influence the ratio of non-performing loan (NPL in conventional banking. The result also implied that the general election in 2004 had a significant influence to the ratio of non-performing financing (NPF in Islamic banking.Even tough from the outset, it seems Islamic banking has a better performance than conventional banking by having a relatively low NPF, this study, however, has found the opposite. Albeit, Islamic banking showing a good long-runas well as short-run dynamics among all variables in the beginning, after modifying the model into autoregressive in the main analysis, results showed that conventional banking has a better performance than Islamic banking with higher correlation of determination. In this regard, we cannot assume thatIslamic banking is performing poorly in managing credit default problems. This is because the result

  5. Robustness of Distance-to-Default

    DEFF Research Database (Denmark)

    Jessen, Cathrine; Lando, David

    2013-01-01

    Distance-to-default is a remarkably robust measure for ranking firms according to their risk of default. The ranking seems to work despite the fact that the Merton model from which the measure is derived produces default probabilities that are far too small when applied to real data. We use...... simulations to investigate the robustness of the distance-to-default measure to different model specifications. Overall we find distance-to-default to be robust to a number of deviations from the simple Merton model that involve different asset value dynamics and different default triggering mechanisms....... A notable exception is a model with stochastic volatility of assets. In this case both the ranking of firms and the estimated default probabilities using distance-to-default perform significantly worse. We therefore propose a volatility adjustment of the distance-to-default measure, that significantly...

  6. How Law and Institutions Shape Financial Contracts: The Case of Bank Loans

    OpenAIRE

    Jun Qian; Philip E. Strahan

    2005-01-01

    We examine empirically how legal origin, creditor rights, property rights, legal formalism, and financial development affect the design of price and non-price terms of bank loans in almost 60 countries. Our results support the law and finance view that private contracts reflect differences in legal protection of creditors and the enforcement of contracts. Loans made to borrowers in countries where creditors can seize collateral in case of default are more likely to be secured, have longer mat...

  7. Subsequence Automata with Default Transitions

    DEFF Research Database (Denmark)

    Bille, Philip; Gørtz, Inge Li; Skjoldjensen, Frederik Rye

    2016-01-01

    of states and transitions) of the subsequence automaton is O(nσ) and that this bound is asymptotically optimal. In this paper, we consider subsequence automata with default transitions, that is, special transitions to be taken only if none of the regular transitions match the current character, and which do...... not consume the current character. We show that with default transitions, much smaller subsequence automata are possible, and provide a full trade-off between the size of the automaton and the delay, i.e., the maximum number of consecutive default transitions followed before consuming a character......(nσ) and delay O(1), thus matching the bound for the standard subsequence automaton construction. The key component of our result is a novel hierarchical automata construction of independent interest....

  8. Subsequence automata with default transitions

    DEFF Research Database (Denmark)

    Bille, Philip; Gørtz, Inge Li; Skjoldjensen, Frederik Rye

    2017-01-01

    of states and transitions) of the subsequence automaton is O(nσ) and that this bound is asymptotically optimal. In this paper, we consider subsequence automata with default transitions, that is, special transitions to be taken only if none of the regular transitions match the current character, and which do...... not consume the current character. We show that with default transitions, much smaller subsequence automata are possible, and provide a full trade-off between the size of the automaton and the delay, i.e., the maximum number of consecutive default transitions followed before consuming a character......(1), thus matching the bound for the standard subsequence automaton construction. Finally, we generalize the result to multiple strings. The key component of our result is a novel hierarchical automata construction of independent interest....

  9. Initial default among sputum-positive pulmonary TB patients at a referral hospital in Uttarakhand, India.

    Science.gov (United States)

    Mehra, Darshan; Kaushik, Rajeev M; Kaushik, Reshma; Rawat, Jagdish; Kakkar, Rajesh

    2013-09-01

    Initial default is a serious issue which can enhance the transmission of TB. We determined the magnitude of and the causative factors for initial default among sputum-positive pulmonary TB (PTB) patients. In this prospective study, 2310 patients attending a referral hospital in Uttarakhand state, north India, with presumptive TB were investigated and 555 patients with sputum-positive PTB were followed-up for initiation of anti-TB treatment (ATT) during 2010-2012. The patients not confirmed as having started ATT were considered initial defaulters. Initial default was seen in 120 (21.6%) patients comprising 22 (18.3%) defaulters during diagnosis and 98 (81.6%) defaulters after referral for directly observed treatment, short-course (DOTS). The initial default rate was significantly higher among patients from rural areas than urban areas, illiterate patients than literate patients and smokeless tobacco-users than non-users (pdefault among patients referred for DOTS were limited trust in DOTS (n = 44, 44.8%), adverse effects of previous ATT (n = 41, 41.8%), dissatisfaction with health services (n = 38, 38.7%), local deaths while taking DOTS (n = 28, 28.5%), advice by others against DOTS (n = 25, 25.5%), disbelief in the diagnosis (n = 18, 18.3%) and patient death before starting treatment (n = 4, 4.0%). A high initial default rate was seen among patients with PTB. There is an urgent need to promote public awareness to lower the initial default rate.

  10. Default neglect in attempts at social influence.

    Science.gov (United States)

    Zlatev, Julian J; Daniels, David P; Kim, Hajin; Neale, Margaret A

    2017-12-26

    Current theories suggest that people understand how to exploit common biases to influence others. However, these predictions have received little empirical attention. We consider a widely studied bias with special policy relevance: the default effect, which is the tendency to choose whichever option is the status quo. We asked participants (including managers, law/business/medical students, and US adults) to nudge others toward selecting a target option by choosing whether to present that target option as the default. In contrast to theoretical predictions, we find that people often fail to understand and/or use defaults to influence others, i.e., they show "default neglect." First, in one-shot default-setting games, we find that only 50.8% of participants set the target option as the default across 11 samples ( n = 2,844), consistent with people not systematically using defaults at all. Second, when participants have multiple opportunities for experience and feedback, they still do not systematically use defaults. Third, we investigate beliefs related to the default effect. People seem to anticipate some mechanisms that drive default effects, yet most people do not believe in the default effect on average, even in cases where they do use defaults. We discuss implications of default neglect for decision making, social influence, and evidence-based policy.

  11. Risk factors for treatment default among re-treatment tuberculosis patients in India, 2006.

    Science.gov (United States)

    Jha, Ugra Mohan; Satyanarayana, Srinath; Dewan, Puneet K; Chadha, Sarabjit; Wares, Fraser; Sahu, Suvanand; Gupta, Devesh; Chauhan, L S

    2010-01-25

    Under India's Revised National Tuberculosis Control Programme (RNTCP), >15% of previously-treated patients in the reported 2006 patient cohort defaulted from anti-tuberculosis treatment. To assess the timing, characteristics, and risk factors for default amongst re-treatment TB patients. For this case-control study, in 90 randomly-selected programme units treatment records were abstracted from all 2006 defaulters from the RNTCP re-treatment regimen (cases), with one consecutively-selected non-defaulter per case. Patients who interrupted anti-tuberculosis treatment for >2 months were classified as defaulters. 1,141 defaulters and 1,189 non-defaulters were included. The median duration of treatment prior to default was 81 days (25%-75% interquartile range 44-117 days) and documented retrieval efforts after treatment interruption were inadequate. Defaulters were more likely to have been male (adjusted odds ratio [aOR] 1.4, 95% confidence interval [CI] 1.2-1.7), have previously defaulted anti-tuberculosis treatment (aOR 1.3 95%CI 1.1-1.6], have previous treatment from non-RNTCP providers (AOR 1.3, 95%CI 1.0-1.6], or have public health facility-based treatment observation (aOR 1.3, 95%CI 1.1-1.6). Amongst the large number of re-treatment patients in India, default occurs early and often. Improved pre-treatment counseling and community-based treatment provision may reduce default rates. Efforts to retrieve treatment interrupters prior to default require strengthening.

  12. Overlapping defaults. The case of intertemporal choices

    Directory of Open Access Journals (Sweden)

    Sawicki Przemysław

    2017-12-01

    Full Text Available People make different choices depending on which decision is the default option. In intertemporal choices, the default option is typically imposed externally. For example, people expect more for delaying the gain (default in the present than are willing to pay for accelerating the future gain over the same period (default in the future. We claim that apart from the external default, people’s choices are also influenced by the internal (natural default such as the time perspective resulting in the reference point in the present. By manipulating the congruency between the internal and external defaults, we show that incongruence between defaults decreases the strength of discounting of gains, but not of losses.

  13. Firm default and aggregate fluctuations

    NARCIS (Netherlands)

    Jacobson, Tor; Linde, Jesper; Roszbach, Kasper

    This paper studies the relationship between macroeconomic fluctuations and corporate defaults while conditioning on industry affiliation and an extensive set of firm-specific factors. By using a panel data set for virtually all incorporated Swedish businesses over 1990-2009, a period which includes

  14. Climate-friendly Default Rules

    DEFF Research Database (Denmark)

    Sunstein, Cass R.; Reisch, Lucia A.

    . The underlying reasons include the power of suggestion; inertia and procrastination; and loss aversion. If well-chosen, climate-friendly defaults are likely to have large effects in reducing the economic and environmental harms associated with various products and activities. In deciding whether to establish...

  15. 17 CFR 201.155 - Default; motion to set aside default.

    Science.gov (United States)

    2010-04-01

    ... 17 Commodity and Securities Exchanges 2 2010-04-01 2010-04-01 false Default; motion to set aside default. 201.155 Section 201.155 Commodity and Securities Exchanges SECURITIES AND EXCHANGE COMMISSION RULES OF PRACTICE Rules of Practice General Rules § 201.155 Default; motion to set aside default. (a) A...

  16. 49 CFR 1112.3 - Default for failure to comply with schedule; effect of default.

    Science.gov (United States)

    2010-10-01

    ... 49 Transportation 8 2010-10-01 2010-10-01 false Default for failure to comply with schedule; effect of default. 1112.3 Section 1112.3 Transportation Other Regulations Relating to Transportation... § 1112.3 Default for failure to comply with schedule; effect of default. If a party fails to comply with...

  17. 39 CFR 965.7 - Default.

    Science.gov (United States)

    2010-07-01

    ... 39 Postal Service 1 2010-07-01 2010-07-01 false Default. 965.7 Section 965.7 Postal Service UNITED STATES POSTAL SERVICE PROCEDURES RULES OF PRACTICE IN PROCEEDINGS RELATIVE TO MAIL DISPUTES § 965.7 Default. A party who fails to file the submittal required by § 965.5 may be held in default and the...

  18. 15 CFR 280.208 - Default.

    Science.gov (United States)

    2010-01-01

    ... 15 Commerce and Foreign Trade 1 2010-01-01 2010-01-01 false Default. 280.208 Section 280.208... Enforcement § 280.208 Default. (a) General. Failure of the respondent to file an answer within the time...) Petition to set aside default—(1) Procedure. Upon petition filed by a respondent against whom a default...

  19. 31 CFR 10.64 - Answer; default.

    Science.gov (United States)

    2010-07-01

    ... 31 Money and Finance: Treasury 1 2010-07-01 2010-07-01 false Answer; default. 10.64 Section 10.64... SERVICE Rules Applicable to Disciplinary Proceedings § 10.64 Answer; default. (a) Filing. The respondent's... need be adduced at a hearing. (d) Default. Failure to file an answer within the time prescribed (or...

  20. 22 CFR 128.4 - Default.

    Science.gov (United States)

    2010-04-01

    ... 22 Foreign Relations 1 2010-04-01 2010-04-01 false Default. 128.4 Section 128.4 Foreign Relations DEPARTMENT OF STATE INTERNATIONAL TRAFFIC IN ARMS REGULATIONS ADMINISTRATIVE PROCEDURES § 128.4 Default. (a... default. The case shall then be referred to the Administrative Law Judge for consideration in a manner as...

  1. What should your DC default be?

    NARCIS (Netherlands)

    Cui, J.

    2009-01-01

    As reported, most DC pension scheme participants simply follow proposed defaults, even though they have the freedom to choose. Consequently, default designs have dramatic impacts on individuals’retirement saving outcomes. Given the fact that the default design matters, this paper evaluates

  2. 39 CFR 952.11 - Default.

    Science.gov (United States)

    2010-07-01

    ... 39 Postal Service 1 2010-07-01 2010-07-01 false Default. 952.11 Section 952.11 Postal Service... AND LOTTERY ORDERS § 952.11 Default. (a) If the Respondent fails to file an answer within the time specified in the notice of answer and hearing, he shall be deemed in default, and to have waived hearing and...

  3. 10 CFR 820.33 - Default order.

    Science.gov (United States)

    2010-01-01

    ... 10 Energy 4 2010-01-01 2010-01-01 false Default order. 820.33 Section 820.33 Energy DEPARTMENT OF ENERGY PROCEDURAL RULES FOR DOE NUCLEAR ACTIVITIES Enforcement Process § 820.33 Default order. (a) Default. The Presiding Officer, upon motion by a party or the filing of a Notice of Intent to issue a...

  4. 24 CFR 320.31 - Default.

    Science.gov (United States)

    2010-04-01

    ... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Default. 320.31 Section 320.31 Housing and Urban Development Regulations Relating to Housing and Urban Development (Continued) GOVERNMENT... SECURITIES Bond-Type Securities § 320.31 Default. Upon default of the issuer, the Association has the right...

  5. 24 CFR 886.314 - Financial default.

    Science.gov (United States)

    2010-04-01

    ... 24 Housing and Urban Development 4 2010-04-01 2010-04-01 false Financial default. 886.314 Section... Program for the Disposition of HUD-Owned Projects § 886.314 Financial default. In the event of a financial default under the project mortgage, HUD shall have the right to make subsequent housing assistance...

  6. 10 CFR 110.110 - Default.

    Science.gov (United States)

    2010-01-01

    ... 10 Energy 2 2010-01-01 2010-01-01 false Default. 110.110 Section 110.110 Energy NUCLEAR REGULATORY COMMISSION (CONTINUED) EXPORT AND IMPORT OF NUCLEAR EQUIPMENT AND MATERIAL Hearings § 110.110 Default. When a participant fails to act within a specified time, the presiding officer may consider him in default, issue an...

  7. 39 CFR 953.7 - Default; Appearances.

    Science.gov (United States)

    2010-07-01

    ... 39 Postal Service 1 2010-07-01 2010-07-01 false Default; Appearances. 953.7 Section 953.7 Postal... § 953.7 Default; Appearances. If a timely reply to the appeal is not filed, the presiding officer shall... Inspector or his or her designee is in default. Whenever the General Counsel or the Chief Postal Inspector...

  8. 15 CFR 766.7 - Default.

    Science.gov (United States)

    2010-01-01

    ... 15 Commerce and Foreign Trade 2 2010-01-01 2010-01-01 false Default. 766.7 Section 766.7 Commerce... PROCEEDINGS § 766.7 Default. (a) General. Failure of the respondent to file an answer within the time provided... aside default—(1) Procedure. Upon petition filed by a respondent against whom a default order has been...

  9. 24 CFR 902.79 - Substantial default.

    Science.gov (United States)

    2010-04-01

    ... 24 Housing and Urban Development 4 2010-04-01 2010-04-01 false Substantial default. 902.79 Section... PUBLIC HOUSING ASSESSMENT SYSTEM PHAS Incentives and Remedies § 902.79 Substantial default. (a) Events or conditions that constitute substantial default. The following events or conditions shall constitute...

  10. 27 CFR 41.116 - Default.

    Science.gov (United States)

    2010-04-01

    ... 27 Alcohol, Tobacco Products and Firearms 2 2010-04-01 2010-04-01 false Default. 41.116 Section 41... Deferred Payment of Tax in Puerto Rico on Tobacco Products § 41.116 Default. Where a check or money order... the full amount of tax due thereunder, or where a bonded manufacturer is otherwise in default in...

  11. Reasoning by cases in Default Logic

    NARCIS (Netherlands)

    Roos, N.; Roos, Nico

    1998-01-01

    Reiter's Default Logic is one of the most popular formalisms for describing default reasoning. One important defect of Default Logic is, however, the inability to reason by cases. Over the years, several solutions for this problem have been proposed. All these proposals deal with deriving new

  12. 39 CFR 963.11 - Default.

    Science.gov (United States)

    2010-07-01

    ... 39 Postal Service 1 2010-07-01 2010-07-01 false Default. 963.11 Section 963.11 Postal Service... PANDERING ADVERTISEMENTS STATUTE, 39 U.S.C. 3008 § 963.11 Default. If a petitioner, without notice or cause... thereupon may find the petitioner to be in default and refer the matter to the Judicial Officer for...

  13. 39 CFR 959.10 - Default.

    Science.gov (United States)

    2010-07-01

    ... 39 Postal Service 1 2010-07-01 2010-07-01 false Default. 959.10 Section 959.10 Postal Service... STATUTES § 959.10 Default. (a) If the respondent fails to file an answer within the time specified in the notice of hearing, the respondent shall be deemed in default and to have waived hearing and further...

  14. 24 CFR 26.41 - Default.

    Science.gov (United States)

    2010-04-01

    ... 24 Housing and Urban Development 1 2010-04-01 2010-04-01 false Default. 26.41 Section 26.41... PROCEDURES Hearings Pursuant to the Administrative Procedure Act Prehearing Procedures § 26.41 Default. (a) General. The respondent may be found in default, upon motion, for failure to file a timely response to the...

  15. Robustness of Distance-to-Default

    DEFF Research Database (Denmark)

    Jessen, Cathrine; Lando, David

    2015-01-01

    Distance-to-default (DD) is a measure of default risk derived from observed stock prices and book leverage using the structural credit risk model of Merton (1974). Despite the simplifying assumptions that underlie its derivation, DD has proven empirically to be a strong predictor of default. We use...

  16. 19 CFR 210.16 - Default.

    Science.gov (United States)

    2010-04-01

    ... 19 Customs Duties 3 2010-04-01 2010-04-01 false Default. 210.16 Section 210.16 Customs Duties UNITED STATES INTERNATIONAL TRADE COMMISSION INVESTIGATIONS OF UNFAIR PRACTICES IN IMPORT TRADE ADJUDICATION AND ENFORCEMENT Motions § 210.16 Default. (a) Definition of default. (1) A party shall be found in...

  17. Robustness of Distance-to-Default

    DEFF Research Database (Denmark)

    Jessen, Cathrine; Lando, David

    2013-01-01

    . A notable exception is a model with stochastic volatility of assets. In this case both the ranking of firms and the estimated default probabilities using distance-to-default perform significantly worse. We therefore propose a volatility adjustment of the distance-to-default measure, that significantly...

  18. 78 FR 64175 - Hashemite Kingdom of Jordan Loan Guarantees Issued Under the Further Continuing Appropriations...

    Science.gov (United States)

    2013-10-28

    ... procedures and standard terms and conditions applicable to loan guarantees to be issued for the benefit of... Definitions. 233.03 The Guarantee. 233.04 Guarantee eligibility. 233.05 Non-impairment of the Guarantee. 233... Default; Application for Compensation; payment. 233.09 No acceleration of Eligible Notes. [[Page 64176...

  19. 50 CFR 600.1012 - Reduction loan.

    Science.gov (United States)

    2010-10-01

    ... annual rate, that shall be determined by subsequent events, of simple interest on the reduction loan's... deposit and disburse the fee revenue in accordance with § 600.1014. (b) Principal amount, interest rate... § 600.1014. (c) Effect of prospective interest rate. Any difference between a prospective interest rate...

  20. 7 CFR 1714.4 - Interest rates.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 11 2010-01-01 2010-01-01 false Interest rates. 1714.4 Section 1714.4 Agriculture... PRE-LOAN POLICIES AND PROCEDURES FOR INSURED ELECTRIC LOANS General § 1714.4 Interest rates. (a) Municipal rate loans. Each advance of funds on a municipal rate loan shall bear interest at a single rate...

  1. Entrance Counseling Guide for Direct Loan Borrowers

    Science.gov (United States)

    Federal Student Aid, US Department of Education, 2010

    2010-01-01

    This guide describes the four types of loans offered by the Direct Loan Program[SM]: (1) Direct Subsidized Loans; (2) Direct Unsubsidized Loans; (3) Direct PLUS Loans; and (4) Direct Consolidation Loans. Among the topics covered in the guide are: Use of Your Loan Money, The Master Promissory Note, How Your Loans Will Be Disbursed (Paid Out),…

  2. Prior Sensitivity Analysis in Default Bayesian Structural Equation Modeling.

    Science.gov (United States)

    van Erp, Sara; Mulder, Joris; Oberski, Daniel L

    2017-11-27

    Bayesian structural equation modeling (BSEM) has recently gained popularity because it enables researchers to fit complex models and solve some of the issues often encountered in classical maximum likelihood estimation, such as nonconvergence and inadmissible solutions. An important component of any Bayesian analysis is the prior distribution of the unknown model parameters. Often, researchers rely on default priors, which are constructed in an automatic fashion without requiring substantive prior information. However, the prior can have a serious influence on the estimation of the model parameters, which affects the mean squared error, bias, coverage rates, and quantiles of the estimates. In this article, we investigate the performance of three different default priors: noninformative improper priors, vague proper priors, and empirical Bayes priors-with the latter being novel in the BSEM literature. Based on a simulation study, we find that these three default BSEM methods may perform very differently, especially with small samples. A careful prior sensitivity analysis is therefore needed when performing a default BSEM analysis. For this purpose, we provide a practical step-by-step guide for practitioners to conducting a prior sensitivity analysis in default BSEM. Our recommendations are illustrated using a well-known case study from the structural equation modeling literature, and all code for conducting the prior sensitivity analysis is available in the online supplemental materials. (PsycINFO Database Record (c) 2017 APA, all rights reserved).

  3. Securitization, loan modification and the supply of subprime mortgage credit in the US

    Directory of Open Access Journals (Sweden)

    Anton Theunissen

    2013-10-01

    Full Text Available This paper develops a continuous time, contingent claims model of mortgage valuation with strategic behavior to show that mortgages that are securitized are characterized by significantly higher loan to value ratios than mortgages held on the balance sheet of the originator, if securitized mortgages cannot be renegotiated. Insofar as securitization inhibits loan modification, it serves as a credible threat to the borrower that default will provoke foreclosure. This enhances the value of the lender’s claim on the loan collateral, the home, and she is willing to lend more per dollar of collateral value. An important implication of the analysis is that the higher loan to value ratio for the securitized mortgage does not imply that the securitized mortgage is characterized by looser underwriting standards than the mortgage held on balance sheet. Higher loan to value ratios for securitized mortgages do not necessarily constitute evidence that securitization encourages risky lending.

  4. Sato Processes in Default Modeling

    DEFF Research Database (Denmark)

    Kokholm, Thomas; Nicolato, Elisa

    -change of a homogeneous Levy process. While the processes in these two classes share the same average behavior over time, the associated intensities exhibit very different properties. Concrete specifications are calibrated to data on the single names included in the iTraxx Europe index. The performances are compared......In reduced form default models, the instantaneous default intensity is classically the modeling object. Survival probabilities are then given by the Laplace transform of the cumulative hazard defined as the integrated intensity process. Instead, recent literature has shown a tendency towards...... specifying the cumulative hazard process directly. Within this framework we present a new model class where cumulative hazards are described by self-similar additive processes, also known as Sato processes. Furthermore we also analyze specifications obtained via a simple deterministic time...

  5. The Parent Loan Trap

    Science.gov (United States)

    Wang, Marian; Supiano, Beckie; Fuller, Andrea

    2012-01-01

    As the cost of college has spiraled ever upward and median family income has fallen, the loan program, called Parent PLUS, has become indispensable for increasing numbers of parents desperate to make their children's college plans work. Last year the government disbursed $10.6-billion in Parent PLUS loans to just under a million families. Even…

  6. Default settings of computerized physician order entry system order sets drive ordering habits.

    Science.gov (United States)

    Olson, Jordan; Hollenbeak, Christopher; Donaldson, Keri; Abendroth, Thomas; Castellani, William

    2015-01-01

    Computerized physician order entry (CPOE) systems are quickly becoming ubiquitous, and groups of orders ("order sets") to allow for easy order input are a common feature. This provides a streamlined mechanism to view, modify, and place groups of related orders. This often serves as an electronic equivalent of a specialty requisition. A characteristic, of these order sets is that specific orders can be predetermined to be "preselected" or "defaulted-on" whenever the order set is used while others are "optional" or "defaulted-off" (though there is typically the option is to "deselect" defaulted-on tests in a given situation). While it seems intuitive that the defaults in an order set are often accepted, additional study is required to understand the impact of these "default" settings in an order set on ordering habits. This study set out to quantify the effect of changing the default settings of an order set. For quality improvement purposes, order sets dealing with transfusions were recently reviewed and modified to improve monitoring of outcome. Initially, the order for posttransfusion hematocrits and platelet count had the default setting changed from "optional" to "preselected." The default settings for platelet count was later changed back to "optional," allowing for a natural experiment to study the effect of the default selections of an order set on clinician ordering habits. Posttransfusion hematocrit values were ordered for 8.3% of red cell transfusions when the default order set selection was "off" and for 57.4% of transfusions when the default selection was "preselected" (P default order set selection was "optional," increased to 59.4% when the default was changed to "preselected" (P default selection was returned to "optional." The posttransfusion platelet count rates during the two "optional" periods: 7.0% versus 7.5% - were not statistically different (P = 0.620). Default settings in CPOE order sets can significantly influence physician selection of

  7. Sovereign default and the stability of inflation targeting regimes

    NARCIS (Netherlands)

    Schabert, A.; van Wijnbergen, S.J.G.

    2011-01-01

    We analyse the impact of interactions between monetary and fiscal policy on macroeconomic stability. We find that in the presence of sovereign default beliefs a monetary policy, which aims to stabilize inflation through an active interest rate policy, will destabilize the economy if the feedback

  8. Distribution, incidence, prevalence and default of patients with ...

    African Journals Online (AJOL)

    Results. The study showed that the majority (38.7%) of patients with diabetes on the public sector register were from the district of eThekwini. Positive correlations were found between the prevalence of diabetes, the mortality rate and the number of defaulters (patients with diabetes who did not return for regular treatment).

  9. Additive Intensity Regression Models in Corporate Default Analysis

    DEFF Research Database (Denmark)

    Lando, David; Medhat, Mamdouh; Nielsen, Mads Stenbo

    2013-01-01

    We consider additive intensity (Aalen) models as an alternative to the multiplicative intensity (Cox) models for analyzing the default risk of a sample of rated, nonfinancial U.S. firms. The setting allows for estimating and testing the significance of time-varying effects. We use a variety of mo...

  10. Philippines: Population: USAID loan.

    Science.gov (United States)

    The Philippines and the United States Agency for International Development signed an agreement on Christmas Day for a US $5.7 million loan and a US $6 million grant for the country's population program. The loan, which matures in 40 years, carries a 2% interest per year for the first 10 years, and 3% thereafter. A 10-year grace period is provided. The US $11.7 million loan and grant package is the first part of USAID's pledge of US $26.9 million in loan and US $29.8 million in grants for the population project. The agreement was signed by Finance Minister Cesar Virata and USAID director Anthony Schwarzwalder. The total loan package of US $57.7 million will be given in the next 5 years.

  11. 75 FR 66699 - Farm Loan Programs Loan Making Activities; Correction

    Science.gov (United States)

    2010-10-29

    ... Loan Programs Loan Making Activities; Correction AGENCY: Farm Service Agency, USDA. ACTION: Proposed rule; correction. SUMMARY: This document contains a correction to the proposed rule titled ``Farm Loan Programs Loan Making Activities'' that was published September 23, 2010. The Farm Service Agency (FSA) is...

  12. Can Equity Volatility Explain the Global Loan Pricing Puzzle?

    OpenAIRE

    Lewis Gaul; Pinar Uysal

    2013-01-01

    This paper examines whether unobservable differences in firm volatility are responsible for the global loan pricing puzzle, which is the observation that corporate loan interest rates appear to be lower in Europe than in the United States. We analyze whether equity volatility, an error prone measure of firm volatility, can explain this difference in loan spreads. We show that using equity volatility in OLS regressions will result in biased and inconsistent estimates of the difference in U.S. ...

  13. Analysis of Third Party Loan Guarantee and Performance of Non-Prime Household Loans in Microfinance Banks in Kenya

    Directory of Open Access Journals (Sweden)

    Bernard Ndirangu Wachira

    2017-08-01

    total recoveries did not have a strong relationship and was not significant. This study recommends the enhancement of the loan guarantee processes to reduce high loan default geared toward good performance of this loan so that it can be accessible to many people.

  14. The National Educational Loan Bank: A Proposal for Improving the System of Lending for Higher Education. Working Paper, Preliminary Draft.

    Science.gov (United States)

    Deitch, Kenneth M.

    A National Education Loan Bank (NELB) is proposed as an alternative to existing federal loan programs for education, such as the National Direct Student Loan program and the Guaranteed Student Loan program. The history and structures of these two programs are detailed: financing, costs, insurance arrangements, agencies, volume, and interest rates.…

  15. The Optimal Interest Rates and the Current Interest Rate System

    Directory of Open Access Journals (Sweden)

    Ioannis N. Kallianiotis

    2014-12-01

    Full Text Available The paper discusses the current target interest rate, which is closed to zero with the new experiment of quantitative easing since 2009 and has reduced the rate of return and the income and has made the real savings rate negative. This target rate has not reduced unemployment and has not improved growth (it is not optimal, but has increased the debt of individuals and the low taxes on businesses have magnified the budget deficits and the national debt. People were borrowing the present value of their uncertain future wealth and their high debt and low income raise the risk and this high risk premium heighten the interest rate on loans, especially on credit cards. The current monetary system needs to be changed and an interest rate floor on deposits (savings and an interest rate ceiling on individuals‟ loans (borrowings is necessary to improve social welfare, fairness, and justice in our society and not to support only disintermediation (financial markets. The middle class cannot work only to pay taxes and interest on its debt (redistribution of their wealth to government and banks or worse to be in chronic unemployment. Many home owners defaulted on their loans payments and their homes are foreclosed. They will end up without property (real assets. The unconcern towards the middle class will affect negatively the entire socio-economic structure of the nation and after losing its productive power, it will start declining, as history has shown to us with so many empires that do not exist anymore. We hope the leaders (the democratic governments to improve public policies, to regulate the financial market and institutions, and to satisfy their policy ultimate objective, which is citizens‟ perfection and the nation‟s highest point of prosperity.

  16. Improving default risk prediction using Bayesian model uncertainty techniques.

    Science.gov (United States)

    Kazemi, Reza; Mosleh, Ali

    2012-11-01

    Credit risk is the potential exposure of a creditor to an obligor's failure or refusal to repay the debt in principal or interest. The potential of exposure is measured in terms of probability of default. Many models have been developed to estimate credit risk, with rating agencies dating back to the 19th century. They provide their assessment of probability of default and transition probabilities of various firms in their annual reports. Regulatory capital requirements for credit risk outlined by the Basel Committee on Banking Supervision have made it essential for banks and financial institutions to develop sophisticated models in an attempt to measure credit risk with higher accuracy. The Bayesian framework proposed in this article uses the techniques developed in physical sciences and engineering for dealing with model uncertainty and expert accuracy to obtain improved estimates of credit risk and associated uncertainties. The approach uses estimates from one or more rating agencies and incorporates their historical accuracy (past performance data) in estimating future default risk and transition probabilities. Several examples demonstrate that the proposed methodology can assess default probability with accuracy exceeding the estimations of all the individual models. Moreover, the methodology accounts for potentially significant departures from "nominal predictions" due to "upsetting events" such as the 2008 global banking crisis. © 2012 Society for Risk Analysis.

  17. Correlates of default from anti-tuberculosis treatment: a case study using Kenya's electronic data system.

    Science.gov (United States)

    Sitienei, J; Kipruto, H; Mansour, O; Ndisha, M; Hanson, C; Wambu, R; Addona, V

    2015-09-01

    In 2012, the World Health Organization estimated that there were 120,000 new cases and 9500 deaths due to tuberculosis (TB) in Kenya. Almost a quarter of the cases were not detected, and the treatment of 4% of notified cases ended in default. To identify the determinants of anti-tuberculosis treatment default. Data from 2012 and 2013 were retrieved from a national case-based electronic data recording system. A comparison was made between new pulmonary TB patients for whom treatment was interrupted vs. those who successfully completed treatment. A total of 106,824 cases were assessed. Human immunodeficiency virus infection was the single most influential risk factor for default (aOR 2.7). More than 94% of patients received family-based directly observed treatment (DOT) and were more likely to default than patients who received DOT from health care workers (aOR 2.0). Caloric nutritional support was associated with lower default rates (aOR 0.89). Males were more likely to default than females (aOR 1.6). Patients cared for in the private sector were less likely to default than those in the public sector (aOR 0.86). Understanding the factors contributing to default can guide future program improvements and serve as a proxy to understanding the factors that constrain access to care among undetected cases.

  18. Why do Investors Buy Sovereign Default Insurance?

    DEFF Research Database (Denmark)

    Augustin, Patrick; Sokolovski, Valeri; Subrahmanyam, Marti G.

    local and regional channels that may explain the trading in sovereign CDS: (a) country-specific credit risk shocks, including changes in a country's credit rating and related outlook changes, (b) the announcement and issuance of domestic and international debt, (c) macroeconomic sentiment derived from......We provide a comprehensive analysis of the determinants of trading in the sovereign credit default swaps (CDS) market, using weekly data for single-name sovereign CDS from October 2008 to September 2015. We describe the anatomy of the sovereign CDS market, derive a law of motion for gross positions...... of the variation in sovereign CDS net notional amounts outstanding. Moreover, unlike for CDS spreads, common global factors explain very little of the variation in sovereign CDS trading and net notional amounts outstanding, suggesting that it is driven primarily by idiosyncratic country risk. We analyze several...

  19. 7 CFR 3550.66 - Interest rate.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 15 2010-01-01 2010-01-01 false Interest rate. 3550.66 Section 3550.66 Agriculture... DIRECT SINGLE FAMILY HOUSING LOANS AND GRANTS Section 502 Origination § 3550.66 Interest rate. Loans will be written using the applicable RHS interest rate in effect at loan approval or loan closing...

  20. 13 CFR 120.932 - Interest rate.

    Science.gov (United States)

    2010-01-01

    ... 13 Business Credit and Assistance 1 2010-01-01 2010-01-01 false Interest rate. 120.932 Section 120.932 Business Credit and Assistance SMALL BUSINESS ADMINISTRATION BUSINESS LOANS Development Company Loan Program (504) 504 Loans and Debentures § 120.932 Interest rate. The interest rate of the 504 Loan...

  1. Default risk modeling beyond the first-passage approximation: Extended Black-Cox model

    Science.gov (United States)

    Katz, Yuri A.; Shokhirev, Nikolai V.

    2010-07-01

    We develop a generalization of the Black-Cox structural model of default risk. The extended model captures uncertainty related to firm’s ability to avoid default even if company’s liabilities momentarily exceeding its assets. Diffusion in a linear potential with the radiation boundary condition is used to mimic a company’s default process. The exact solution of the corresponding Fokker-Planck equation allows for derivation of analytical expressions for the cumulative probability of default and the relevant hazard rate. Obtained closed formulas fit well the historical data on global corporate defaults and demonstrate the split behavior of credit spreads for bonds of companies in different categories of speculative-grade ratings with varying time to maturity. Introduction of the finite rate of default at the boundary improves valuation of credit risk for short time horizons, which is the key advantage of the proposed model. We also consider the influence of uncertainty in the initial distance to the default barrier on the outcome of the model and demonstrate that this additional source of incomplete information may be responsible for nonzero credit spreads for bonds with very short time to maturity.

  2. Bad Loans and Loan Write-Offs

    OpenAIRE

    福田, 慎一; 鯉渕, 賢

    2006-01-01

    In this paper, we investigate who bears the burden when writing off bad loans in Japan. Traditionally, Japanese main banks bore large burdens in saving their customers. We still find that some main banks bear a large burden in saving their customers. However, in most cases, main banks became very reluctant to bear large burdens when bailing out their customers. In the transition from the bank-based system to a market-based system, traditional implicit rules are collapsing dramatically. We sug...

  3. Six changes with the new Regulations on Automobile Loans

    Institute of Scientific and Technical Information of China (English)

    2004-01-01

    <正> On Aug 16, 2004, the People’s Bank of China and China Banking Regulatory Commission (CBRC) jointly issued the new version of the Regulations on Automobile Loans. Due to be put into implementation on Oct 1, the new Regulations change radically compared with the previous version in terms of creditors, possible borrowers, rate of down payments, loan periods, etc.

  4. 31 CFR 501.716 - Default.

    Science.gov (United States)

    2010-07-01

    ... Administrative Law Judge (or the Secretary's designee) pursuant to § 501.729(b). (b) In deciding whether to determine the proceedings against a party deemed to be in default, the Administrative Law Judge shall... default and the Administrative Law Judge (or the Secretary's designee during review proceedings) may...

  5. 39 CFR 964.6 - Default.

    Science.gov (United States)

    2010-07-01

    ... 39 Postal Service 1 2010-07-01 2010-07-01 false Default. 964.6 Section 964.6 Postal Service UNITED STATES POSTAL SERVICE PROCEDURES RULES OF PRACTICE GOVERNING DISPOSITION OF MAIL WITHHELD FROM DELIVERY PURSUANT TO 39 U.S.C. 3003, 3004 § 964.6 Default. If a Petitioner fails to appear at the hearing without...

  6. 14 CFR 302.409 - Default.

    Science.gov (United States)

    2010-01-01

    ... 14 Aeronautics and Space 4 2010-01-01 2010-01-01 false Default. 302.409 Section 302.409 Aeronautics and Space OFFICE OF THE SECRETARY, DEPARTMENT OF TRANSPORTATION (AVIATION PROCEEDINGS) PROCEDURAL REGULATIONS RULES OF PRACTICE IN PROCEEDINGS Rules Applicable to Enforcement Proceedings § 302.409 Default...

  7. 10 CFR 2.320 - Default.

    Science.gov (United States)

    2010-01-01

    ... 10 Energy 1 2010-01-01 2010-01-01 false Default. 2.320 Section 2.320 Energy NUCLEAR REGULATORY COMMISSION RULES OF PRACTICE FOR DOMESTIC LICENSING PROCEEDINGS AND ISSUANCE OF ORDERS Rules of General... § 2.320 Default. If a party fails to file an answer or pleading within the time prescribed in this...

  8. A proof theory for constructive default logic

    NARCIS (Netherlands)

    Y-H. Tan (Yao-Hua)

    1993-01-01

    textabstractWe present what we call Constructive Default Logic (CDL) - a default logic in which the fixed-point definition of extensions is replaced by a constructive definition which yield so-called constructive extensions. Selection functions are used to represent explicitly the control of the

  9. 39 CFR 954.9 - Default.

    Science.gov (United States)

    2010-07-01

    ... 39 Postal Service 1 2010-07-01 2010-07-01 false Default. 954.9 Section 954.9 Postal Service UNITED STATES POSTAL SERVICE PROCEDURES RULES OF PRACTICE IN PROCEEDINGS RELATIVE TO THE DENIAL, SUSPENSION, OR REVOCATION OF PERIODICALS MAIL PRIVILEGES § 954.9 Default. If a publisher fails to appear at the hearing, the...

  10. 48 CFR 245.7309-7 - Default.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 3 2010-10-01 2010-10-01 false Default. 245.7309-7 Section 245.7309-7 Federal Acquisition Regulations System DEFENSE ACQUISITION REGULATIONS SYSTEM... Default. If the successful Bidder fails to make full payment, remove property by the specified date, or...

  11. Error probabilities in default Bayesian hypothesis testing

    NARCIS (Netherlands)

    Gu, Xin; Hoijtink, Herbert; Mulder, J,

    2016-01-01

    This paper investigates the classical type I and type II error probabilities of default Bayes factors for a Bayesian t test. Default Bayes factors quantify the relative evidence between the null hypothesis and the unrestricted alternative hypothesis without needing to specify prior distributions for

  12. 12 CFR 622.81 - Default.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Default. 622.81 Section 622.81 Banks and Banking FARM CREDIT ADMINISTRATION FARM CREDIT SYSTEM RULES OF PRACTICE AND PROCEDURE Rules and Procedures... Default. If the subject individual fails to file a petition for a hearing, or fails to appear at a hearing...

  13. On the importance of default breach remedies

    NARCIS (Netherlands)

    Sloof, R.; Oosterbeek, H.; Sonnemans, J.

    2007-01-01

    Theory predicts that default breach remedies are immaterial whenever contracting costs are negligible. Some experimental studies, however, suggest that in practice default rules do matter, as they may affect parties' preferences over contract terms. This paper presents results from an experiment

  14. 12 CFR 508.8 - Default.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 5 2010-01-01 2010-01-01 false Default. 508.8 Section 508.8 Banks and Banking OFFICE OF THRIFT SUPERVISION, DEPARTMENT OF THE TREASURY REMOVALS, SUSPENSIONS, AND PROHIBITIONS WHERE A CRIME IS CHARGED OR PROVEN § 508.8 Default. If the subject individual fails to file a petition for a...

  15. Strategic default and equity risk across countries

    NARCIS (Netherlands)

    Favara, G.; Schroth, E.; Valta, P.

    2010-01-01

    We test whether the firm’s systematic equity risk reflects the shareholders’ incentives to default strategically on the firm’s debt. We use a real options model to relate the shareholders’ strategic default behavior to frictions in the debt renegotiation procedure. We test the model’s predictions

  16. Credit default swaps and risk-shifting

    NARCIS (Netherlands)

    Campello, M.; Matta, R.

    2012-01-01

    Credit default swaps (CDSs) are thought to ease borrowing by protecting lenders against default. This paper develops a model of the demand for CDS when borrowers choose the riskiness of investment and verification is imperfect. The model shows that CDSs may lead to risk-shifting, increasing the

  17. Quadratic Hedging Methods for Defaultable Claims

    International Nuclear Information System (INIS)

    Biagini, Francesca; Cretarola, Alessandra

    2007-01-01

    We apply the local risk-minimization approach to defaultable claims and we compare it with intensity-based evaluation formulas and the mean-variance hedging. We solve analytically the problem of finding respectively the hedging strategy and the associated portfolio for the three methods in the case of a default put option with random recovery at maturity

  18. SUBSEQUENTLY AQCUIRED ASSETS AS FIDUCIARY SECURITY ON BANK LOANS

    Directory of Open Access Journals (Sweden)

    Trisadini Prasastinah Usanti

    2016-05-01

    Full Text Available Collateral in terms of subsequently acquired assets namely subsequently acquired credit might be charged with fiduciary security. This collateral is not considered ideal regarding the high risk a bank must take. To minimize the risks, the bank analyzes the credit thoroughly, impose fiduciary security officials perfectly and performs monitoring of credits regularly to avoid misconduct committed by the debtor. If a default occurs, the bank will take over the assets. Nevertheless, the problems of execution on the subsequently acquired credits might arise due to debtor’s default and bad debts to the third party. Consequently, subsequently acquired assets as collateral provides as additional collateral. Keywords: bank, subsequently acquired objects, fiduciary, security, loans.

  19. Default options and neonatal resuscitation decisions.

    Science.gov (United States)

    Haward, Marlyse Frieda; Murphy, Ryan O; Lorenz, John M

    2012-12-01

    To determine whether presenting delivery room management options as defaults influences decisions to resuscitate extremely premature infants. Adult volunteers recruited from the world wide web were randomised to receive either resuscitation or comfort care as the delivery room management default option for a hypothetical delivery of a 23-week gestation infant. Participants were required to check a box to opt out of the default. The primary outcome measure was the proportion of respondents electing resuscitation. Data were analysed using χ(2) tests and multivariate logistic regression. Participants who were told the delivery room management default option was resuscitation were more likely to opt for resuscitation (OR 6.54 95% CI 3.85 to 11.11, pmanipulation. Further, this effect may operate in ways that a decision maker is not aware of and this raises questions of patient autonomy. Presenting delivery room options for extremely premature infants as defaults may compromise autonomous decision-making.

  20. 13 CFR 120.434 - What are SBA's requirements for loan pledges?

    Science.gov (United States)

    2010-01-01

    ... satisfactory SBA performance, as determined by SBA in its discretion. The Lender's Risk Rating, among other... BUSINESS LOANS Lenders Other Conveyances § 120.434 What are SBA's requirements for loan pledges? (a) Except... 7(a) loan, which consent SBA may withhold in its sole discretion; (b) The Lender must be in good...

  1. 75 FR 54020 - Federal Housing Administration Risk Management Initiatives: New Loan-to-Value and Credit Score...

    Science.gov (United States)

    2010-09-03

    ... Housing Administration Risk Management Initiatives: New Loan-to-Value and Credit Score Requirements AGENCY... acceptable risks of financial loss, not unacceptable risks.\\2\\ \\2\\ While the Federal Credit Reform Act of..., specific to each applicant. Lower credit scores indicate greater risk of default on any new credit extended...

  2. Denmark; Systemic Issues in Mortgage Loans and Covered Bond Finance: Technical Note

    OpenAIRE

    International Monetary Fund

    2014-01-01

    This technical note analyzes systemic issues in mortgage loans and covered bond finance in Denmark. Mortgage lending has seen significant product innovation in recent years. Loans with adjustable interest rates and/or interest-only periods, which have been introduced since the late 1990s, had grown to 75 percent and 53 percent, respectively, of total outstanding mortgage loans at the end of 2013. The major changes in the characteristics of the underlying mortgage loans have naturally been ref...

  3. 7 CFR 1710.50 - Insured loans.

    Science.gov (United States)

    2010-01-01

    ... GENERAL AND PRE-LOAN POLICIES AND PROCEDURES COMMON TO ELECTRIC LOANS AND GUARANTEES Types of Loans and... determined pursuant to 7 CFR part 1714, and the borrower may elect to include in the loan documents a...

  4. 7 CFR 1710.51 - Direct loans.

    Science.gov (United States)

    2010-01-01

    ... GENERAL AND PRE-LOAN POLICIES AND PROCEDURES COMMON TO ELECTRIC LOANS AND GUARANTEES Types of Loans and... borrowers. (b) Loan documents. Successful applicants will be required to execute and deliver to RUS a...

  5. 7 CFR 2201.19 - Loan terms.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 15 2010-01-01 2010-01-01 false Loan terms. 2201.19 Section 2201.19 Agriculture Regulations of the Department of Agriculture (Continued) LOCAL TELEVISION LOAN GUARANTEE BOARD LOCAL TELEVISION LOAN GUARANTEE PROGRAM-PROGRAM REGULATIONS Loan Guarantees § 2201.19 Loan terms. (a) All Loans...

  6. 5 CFR 1655.14 - Loan payments.

    Science.gov (United States)

    2010-01-01

    ... 5 Administrative Personnel 3 2010-01-01 2010-01-01 false Loan payments. 1655.14 Section 1655.14 Administrative Personnel FEDERAL RETIREMENT THRIFT INVESTMENT BOARD LOAN PROGRAM § 1655.14 Loan payments. (a) Loan payments must be made through payroll deduction in accordance with the loan agreement. Once loan...

  7. 7 CFR 1436.7 - Loan term.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 10 2010-01-01 2010-01-01 false Loan term. 1436.7 Section 1436.7 Agriculture... AGRICULTURE LOANS, PURCHASES, AND OTHER OPERATIONS FARM STORAGE FACILITY LOAN PROGRAM REGULATIONS § 1436.7 Loan term. (a) For eligible facility loan commodities other than sugar, the term of the loan will be 7...

  8. 13 CFR 400.202 - Loan amount.

    Science.gov (United States)

    2010-01-01

    ... 13 Business Credit and Assistance 1 2010-01-01 2010-01-01 false Loan amount. 400.202 Section 400.202 Business Credit and Assistance EMERGENCY STEEL GUARANTEE LOAN BOARD EMERGENCY STEEL GUARANTEE LOAN PROGRAM Steel Guarantee Loans § 400.202 Loan amount. (a) The aggregate amount of loan principal guaranteed...

  9. 7 CFR 764.401 - Loan decision.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 7 2010-01-01 2010-01-01 false Loan decision. 764.401 Section 764.401 Agriculture... SPECIAL PROGRAMS DIRECT LOAN MAKING Loan Decision and Closing § 764.401 Loan decision. (a) Loan approval. (1) The Agency will approve a loan only if it determines that: (i) The applicant's farm operating...

  10. 7 CFR 1710.407 - Loan documents.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 11 2010-01-01 2010-01-01 false Loan documents. 1710.407 Section 1710.407 Agriculture... GENERAL AND PRE-LOAN POLICIES AND PROCEDURES COMMON TO ELECTRIC LOANS AND GUARANTEES Application Requirements and Procedures for Loans § 1710.407 Loan documents. Following approval of a loan, RUS will forward...

  11. 13 CFR 500.204 - Loan terms.

    Science.gov (United States)

    2010-01-01

    ... 13 Business Credit and Assistance 1 2010-01-01 2010-01-01 false Loan terms. 500.204 Section 500.204 Business Credit and Assistance EMERGENCY OIL AND GAS GUARANTEED LOAN BOARD EMERGENCY OIL AND GAS GUARANTEED LOAN PROGRAM Oil and Gas Guaranteed Loans § 500.204 Loan terms. (a) All loans guaranteed under the...

  12. 13 CFR 400.204 - Loan terms.

    Science.gov (United States)

    2010-01-01

    ... 13 Business Credit and Assistance 1 2010-01-01 2010-01-01 false Loan terms. 400.204 Section 400.204 Business Credit and Assistance EMERGENCY STEEL GUARANTEE LOAN BOARD EMERGENCY STEEL GUARANTEE LOAN PROGRAM Steel Guarantee Loans § 400.204 Loan terms. (a) All loans guaranteed under the Program shall be...

  13. 7 CFR 1710.406 - Loan approval.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 11 2010-01-01 2010-01-01 false Loan approval. 1710.406 Section 1710.406 Agriculture... GENERAL AND PRE-LOAN POLICIES AND PROCEDURES COMMON TO ELECTRIC LOANS AND GUARANTEES Application Requirements and Procedures for Loans § 1710.406 Loan approval. (a) A loan is approved when the Administrator...

  14. 13 CFR 500.202 - Loan amount.

    Science.gov (United States)

    2010-01-01

    ... 13 Business Credit and Assistance 1 2010-01-01 2010-01-01 false Loan amount. 500.202 Section 500.202 Business Credit and Assistance EMERGENCY OIL AND GAS GUARANTEED LOAN BOARD EMERGENCY OIL AND GAS GUARANTEED LOAN PROGRAM Oil and Gas Guaranteed Loans § 500.202 Loan amount. The aggregate amount of loan...

  15. 7 CFR 1710.113 - Loan security.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 11 2010-01-01 2010-01-01 false Loan security. 1710.113 Section 1710.113 Agriculture... GENERAL AND PRE-LOAN POLICIES AND PROCEDURES COMMON TO ELECTRIC LOANS AND GUARANTEES Loan Purposes and Basic Policies § 1710.113 Loan security. (a) RUS makes loans only if, in the judgment of the...

  16. 7 CFR 1735.22 - Loan security.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 11 2010-01-01 2010-01-01 false Loan security. 1735.22 Section 1735.22 Agriculture... GENERAL POLICIES, TYPES OF LOANS, LOAN REQUIREMENTS-TELECOMMUNICATIONS PROGRAM Loan Purposes and Basic Policies § 1735.22 Loan security. (a) RUS makes loans only if, in the judgment of the Administrator, the...

  17. 7 CFR 762.121 - Loan purposes.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 7 2010-01-01 2010-01-01 false Loan purposes. 762.121 Section 762.121 Agriculture... SPECIAL PROGRAMS GUARANTEED FARM LOANS § 762.121 Loan purposes. (a) Operating Loan purposes. (1) Loan... the need to refinance; (viii) Payment of loan closing costs; (ix) Payment of costs associated with...

  18. 7 CFR 1738.22 - Loan security.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 11 2010-01-01 2010-01-01 false Loan security. 1738.22 Section 1738.22 Agriculture... RURAL BROADBAND ACCESS LOANS AND LOAN GUARANTEES Loan Purposes and Basic Policies § 1738.22 Loan security. (a) RUS makes loans only if, in the judgment of the Administrator, the security therefore is...

  19. 7 CFR 1737.92 - Loan documents.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 11 2010-01-01 2010-01-01 false Loan documents. 1737.92 Section 1737.92 Agriculture... PRE-LOAN POLICIES AND PROCEDURES COMMON TO INSURED AND GUARANTEED TELECOMMUNICATIONS LOANS Final Loan Approval Procedures § 1737.92 Loan documents. Following approval of the loan, RUS shall forward the...

  20. Asymmetric default bias in dishonesty – how defaults work but only when in one’s favor

    DEFF Research Database (Denmark)

    Fosgaard, Toke Reinholt

    Based on a dice rolling task where participants can cheat on the outcome, this paper asks if default answers change dishonesty? The paper finds that various default answers have asymmetric effects. Compared to not having a default answer at all, providing a low default answer, or adding the expec......Based on a dice rolling task where participants can cheat on the outcome, this paper asks if default answers change dishonesty? The paper finds that various default answers have asymmetric effects. Compared to not having a default answer at all, providing a low default answer, or adding...

  1. Risk factors and timing of default from treatment for non-multidrug-resistant tuberculosis in Moldova.

    Science.gov (United States)

    Jenkins, H E; Ciobanu, A; Plesca, V; Crudu, V; Galusca, I; Soltan, V; Cohen, T

    2013-03-01

    The Republic of Moldova, in Eastern Europe, has among the highest reported nationwide proportions of tuberculosis (TB) patients with multidrug-resistant tuberculosis (MDR-TB) worldwide. Default has been associated with increased mortality and amplification of drug resistance, and may contribute to the high MDR-TB rates in Moldova. To assess risk factors and timing of default from treatment for non-MDR-TB from 2007 to 2010. A retrospective analysis of routine surveillance data on all non-MDR-TB patients reported. A total of 14.7% of non-MDR-TB patients defaulted from treatment during the study period. Independent risk factors for default included sociodemographic factors, such as homelessness, living alone, less formal education and spending substantial time outside Moldova in the year prior to diagnosis; and health-related factors such as human immunodeficiency virus co-infection, greater lung pathology and increasing TB drug resistance. Anti-tuberculosis treatment is usually initiated within an institutional setting in Moldova, and the default risk was highest in the month following the phase of hospitalized treatment (among civilians) and after leaving prison (among those diagnosed while incarcerated). Targeted interventions to increase treatment adherence for patients at highest risk of default, and improving the continuity of care for patients transitioning from institutional to community care may substantially reduce risk of default.

  2. Bangladesh looks for a soft loan

    International Nuclear Information System (INIS)

    Hossain, A.

    1986-01-01

    The problems faced by developing countries in embarking on a nuclear power programme are considered. It is argued that an international funding agency should be set up by the IAEA and the World Bank to provide developing countries with help in the form of a loan at soft interest rates and longer repayment periods. (U.K.)

  3. Collateral Damage: Interlibrary Loan Lending Denials

    Science.gov (United States)

    Leykam, Andrew

    2009-01-01

    The intent of this paper is to explore the potential of utilizing interlibrary loan (ILL) data relating to lending denials to improve ILL services while highlighting institutional policies that have a negative impact on lending fulfillment rates. Reasons for denial as well as the types of requests being denied are reviewed. In addition, the author…

  4. Revisiting Bank Pricing Policies in Brazil: evidence from loan and deposit markets

    OpenAIRE

    Leonardo S. Alencar

    2011-01-01

    This paper addresses the micro and macroeconomic determinants of interest rates in the Brazilian banking market. The results suggest that banks fully adjust their loan interest rates to a change in the monetary policy rate, but we also observe a rigid short-term response for some loan product categories. The study confirms that pricing policies can vary substantially depending on the market. For example, microeconomic factors did not seem to be a major determinant of retail loan rates, but th...

  5. Mortgage lenders and loans

    NARCIS (Netherlands)

    Aalbers, M.B.; Smith, S.J.

    2012-01-01

    This article presents a short historical overview of the different types of lenders that are active in the origination of residential mortgage loans. First, a distinction is made between depository and nondepository lenders. Second, there are two major types of depository lenders: commercial banks,

  6. Californium loan programme

    International Nuclear Information System (INIS)

    1974-01-01

    The offer of the United States to loan Californium-252 sources to the IAEA was made by Dr. Glenn T. Seaborg, then chairman of the USAEC, in his opening statement at the 15th. General Conference of the IAEA held in Vienna in 1971. The purpose of this loan was to make neutron emitting sources available to universities in the Member States for use in educational programmes. The sources, in the form of small needles designed for medical use in radiation therapy, were judged highly suitable for didactic applications due to their small size, limited activity and well documented radiological parameters. Subsequently, in May 1973, the Director General announced the availability of the Californium sources to the Member States. To date, numerous sources have been loaned to universities in Czechoslovakia, Costa Rica, the Federal Republic of Germany, Ghana, India, Iran, Israel, Japan, South Africa, Switzerland, the United Kingdom and Uruguay; additional applications for loans are being processed. It is anticipated that the loan programme will be terminated in 1975 once all the available sources have been distributed. n order to provide guidance for the Member States on the safe exploitation of these sources, a prototype use and storage facility was designed by IAEA staff of the Dosimetry Section of the Division of Life Sciences, and constructed at the IAEA laboratory in Seibersdorf, Austria. Figures 2-5 illustrate some of the details of this container, which is being given to the Ghana Nuclear Centre in support of a training programme for students at the university in Accra. Further advice to users of these sources will be provided by the publication of an instructional syllabus, a laboratory manual for experiments and the safety precautions inherent in the proper handling of neutron emitting radionuclides, authored by Professors Erich J. Hall and Harald H. Rossi of Columbia University. The syllabus and manual will be published as part of the IAEA Technical Series in September

  7. 17 CFR 12.23 - Setting aside of default.

    Science.gov (United States)

    2010-04-01

    ... 17 Commodity and Securities Exchanges 1 2010-04-01 2010-04-01 false Setting aside of default. 12... aside of default. (a) Default order not final. In order to prevent injustice or for good cause shown, and on such conditions as may be appropriate, a non-final default order (including any award therein...

  8. 46 CFR 298.41 - Remedies after default.

    Science.gov (United States)

    2010-10-01

    ... 46 Shipping 8 2010-10-01 2010-10-01 false Remedies after default. 298.41 Section 298.41 Shipping... Defaults and Remedies, Reporting Requirements, Applicability of Regulations § 298.41 Remedies after default... governing remedies after a default, which relate to our rights and duties, the rights and duties of the...

  9. 24 CFR 232.850 - Notice of default.

    Science.gov (United States)

    2010-04-01

    ... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Notice of default. 232.850 Section....850 Notice of default. (a) If the default is not cured within the 30 day grace period, as defined in... default. (b) The lender shall give notice in writing to the Commissioner of the failure of the borrower to...

  10. 24 CFR 241.850 - Notice of default.

    Science.gov (United States)

    2010-04-01

    ... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Notice of default. 241.850 Section... § 241.850 Notice of default. (a) If the default is not cured within the 30 day grace period, as defined... such default. (b) The lender shall give notice in writing to the Commissioner of the failure of the...

  11. 48 CFR 1349.402-3 - Procedure for default

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 5 2010-10-01 2010-10-01 false Procedure for default 1349... MANAGEMENT TERMINATION OF CONTRACTS Termination for Default 1349.402-3 Procedure for default No action relating to a default termination, including issuance of a show cause letter, cure notice, or notice of...

  12. 12 CFR 618.8325 - Disclosure of loan documents.

    Science.gov (United States)

    2010-01-01

    ... other things, the borrower's promise to repay the loaned funds at an agreed-upon rate of interest. (5... borrower affixes his signature or seal and which the qualified lender intends to retain in its files as...

  13. Binomial tree method for pricing a regime-switching volatility stock loans

    Science.gov (United States)

    Putri, Endah R. M.; Zamani, Muhammad S.; Utomo, Daryono B.

    2018-03-01

    Binomial model with regime switching may represents the price of stock loan which follows the stochastic process. Stock loan is one of alternative that appeal investors to get the liquidity without selling the stock. The stock loan mechanism resembles that of American call option when someone can exercise any time during the contract period. From the resembles both of mechanism, determination price of stock loan can be interpreted from the model of American call option. The simulation result shows the behavior of the price of stock loan under a regime-switching with respect to various interest rate and maturity.

  14. Increased risk of default among previously treated tuberculosis cases in the Western Cape Province, South Africa.

    Science.gov (United States)

    Marx, F M; Dunbar, R; Hesseling, A C; Enarson, D A; Fielding, K; Beyers, N

    2012-08-01

    To investigate, in two urban communities with high tuberculosis (TB) incidence and high rates of TB recurrence, whether a history of previous TB treatment is associated with treatment default. Retrospective cohort study of TB cases with an episode of treatment recorded in the clinic-based treatment registers between 2002 and 2007. Probabilistic record linkage was used to ascertain treatment history of TB cases back to 1996. Based on the outcome of their most recent previous treatment episode, previously treated cases were compared to new cases regarding their risk of treatment default. Previous treatment success (adjusted odds ratio [aOR] 1.79; 95%CI 1.17-2.73), previous default (aOR 6.18, 95%CI 3.68-10.36) and previous failure (aOR 9.72, 95%CI 3.07-30.78) were each independently associated with treatment default (P default were male sex (P = 0.003) and age 19-39 years (P risk of treatment default, even after previous successful treatment. This finding is of particular importance in a setting where recurrent TB is very common. Adherence to treatment should be ensured in new and retreatment cases to increase cure rates and reduce transmission of TB in the community.

  15. Default Mode Network Connectivity in Stroke Patients.

    Science.gov (United States)

    Tuladhar, Anil Man; Snaphaan, Liselore; Shumskaya, Elena; Rijpkema, Mark; Fernandez, Guillén; Norris, David G; de Leeuw, Frank-Erik

    2013-01-01

    The pathophysiology of episodic memory dysfunction after infarction is not completely understood. It has been suggested that infarctions located anywhere in the brain can induce widespread effects causing disruption of functional networks of the cortical regions. The default mode network, which includes the medial temporal lobe, is a functional network that is associated with episodic memory processing. We investigated whether the default mode network activity is reduced in stroke patients compared to healthy control subjects in the resting state condition. We assessed the whole brain network properties during resting state functional MRI in 21 control subjects and 20 'first-ever' stroke patients. Patients were scanned 9-12 weeks after stroke onset. Stroke lesions were located in various parts of the brain. Independent component analyses were conducted to identify the default mode network and to compare the group differences of the default mode network. Furthermore, region-of-interest based analysis was performed to explore the functional connectivity between the regions of the default mode network. Stroke patients performed significantly worse than control subjects on the delayed recall score on California verbal learning test. We found decreased functional connectivity in the left medial temporal lobe, posterior cingulate and medial prefrontal cortical areas within the default mode network and reduced functional connectivity between these regions in stroke patients compared with controls. There were no significant volumetric differences between the groups. These results demonstrate that connectivity within the default mode network is reduced in 'first-ever' stroke patients compared to control subjects. This phenomenon might explain the occurrence of post-stroke cognitive dysfunction in stroke patients.

  16. The Exposure of Mortgage Borrowers to Interest Rate Risk, Income Risk and House Price Risk – Evidence from Swiss Loan Application Data

    OpenAIRE

    Guin, Benjamin; Brown, Martin

    2015-01-01

    We study the exposure of mortgage borrowers in Switzerland to interest rate, income and house price risks and examine how the households’ choice of risky mortgages is related to individual interest rate expectations and risk-aversion. Our analysis is based on a unique data set of household mortgage applications from September 2012 until January 2014. Our assessment of risk exposure among mortgage borrowers in Switzerland is highly sensitive to the underlying assumptions on mortgage costs, hou...

  17. 7 CFR 1610.4 - Loan applications.

    Science.gov (United States)

    2010-01-01

    ... Regulations of the Department of Agriculture (Continued) RURAL TELEPHONE BANK, DEPARTMENT OF AGRICULTURE LOAN POLICIES § 1610.4 Loan applications. No application for a loan will be considered for approval by the Bank... of the applicant for a Bank loan and the amount thereof. Loan application forms are available from...

  18. 24 CFR 201.41 - Loan servicing.

    Science.gov (United States)

    2010-04-01

    ... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Loan servicing. 201.41 Section 201... DEVELOPMENT MORTGAGE AND LOAN INSURANCE PROGRAMS UNDER NATIONAL HOUSING ACT AND OTHER AUTHORITIES TITLE I PROPERTY IMPROVEMENT AND MANUFACTURED HOME LOANS Loan Administration § 201.41 Loan servicing. (a) Generally...

  19. 49 CFR 260.9 - Loan terms.

    Science.gov (United States)

    2010-10-01

    ... 49 Transportation 4 2010-10-01 2010-10-01 false Loan terms. 260.9 Section 260.9 Transportation... TRANSPORTATION REGULATIONS GOVERNING LOANS AND LOAN GUARANTEES UNDER THE RAILROAD REHABILITATION AND IMPROVEMENT FINANCING PROGRAM Overview § 260.9 Loan terms. The maximum repayment period for direct loans and guaranteed...

  20. 7 CFR 770.5 - Loan limitations.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 7 2010-01-01 2010-01-01 false Loan limitations. 770.5 Section 770.5 Agriculture... SPECIAL PROGRAMS INDIAN TRIBAL LAND ACQUISITION LOANS § 770.5 Loan limitations. (a) Loan funds may not be... title. (b) The amount of loan funds used to acquire land may not exceed the market value of the land...

  1. 7 CFR 1980.370 - Loan servicing.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 14 2010-01-01 2009-01-01 true Loan servicing. 1980.370 Section 1980.370 Agriculture... REGULATIONS (CONTINUED) GENERAL Rural Housing Loans § 1980.370 Loan servicing. RHS encourages Lenders to... sufficient servicing and counseling to meet the objectives of the loan. Loan servicing should be approached...

  2. 7 CFR 771.5 - Loan purposes.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 7 2010-01-01 2010-01-01 false Loan purposes. 771.5 Section 771.5 Agriculture... SPECIAL PROGRAMS BOLL WEEVIL ERADICATION LOAN PROGRAM § 771.5 Loan purposes. (a) Loan funds may be used..., travel and office operations; (3) Salaries and benefits. (b) Loan funds may not be used to pay expenses...

  3. 7 CFR 774.22 - Loan closing.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 7 2010-01-01 2010-01-01 false Loan closing. 774.22 Section 774.22 Agriculture... SPECIAL PROGRAMS EMERGENCY LOAN FOR SEED PRODUCERS PROGRAM § 774.22 Loan closing. (a) Conditions. The applicant must meet all conditions specified by the loan approval official in the notification of loan...

  4. 7 CFR 1980.310 - Loan purposes.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 14 2010-01-01 2009-01-01 true Loan purposes. 1980.310 Section 1980.310 Agriculture... REGULATIONS (CONTINUED) GENERAL Rural Housing Loans § 1980.310 Loan purposes. The purpose of a loan guaranteed... applicant as a primary residence. The loan may be to purchase a new dwelling or an existing dwelling. The...

  5. 7 CFR 1779.69 - Loan servicing.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 12 2010-01-01 2010-01-01 false Loan servicing. 1779.69 Section 1779.69 Agriculture... (CONTINUED) WATER AND WASTE DISPOSAL PROGRAMS GUARANTEED LOANS § 1779.69 Loan servicing. (a) Lender responsibilities. The lender is responsible for servicing the entire loan in accordance with the lender's loan...

  6. 24 CFR 201.10 - Loan amounts.

    Science.gov (United States)

    2010-04-01

    ... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Loan amounts. 201.10 Section 201.10... MORTGAGE AND LOAN INSURANCE PROGRAMS UNDER NATIONAL HOUSING ACT AND OTHER AUTHORITIES TITLE I PROPERTY IMPROVEMENT AND MANUFACTURED HOME LOANS Loan and Note Provisions § 201.10 Loan amounts. (a) Property...

  7. 7 CFR 771.13 - Loan closing.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 7 2010-01-01 2010-01-01 false Loan closing. 771.13 Section 771.13 Agriculture... SPECIAL PROGRAMS BOLL WEEVIL ERADICATION LOAN PROGRAM § 771.13 Loan closing. (a) Conditions. The applicant must meet all conditions specified by the loan approval official in the notification of loan approval...

  8. 5 CFR 1655.21 - Loan fee.

    Science.gov (United States)

    2010-01-01

    ... 5 Administrative Personnel 3 2010-01-01 2010-01-01 false Loan fee. 1655.21 Section 1655.21 Administrative Personnel FEDERAL RETIREMENT THRIFT INVESTMENT BOARD LOAN PROGRAM § 1655.21 Loan fee. The TSP will charge a participant a $50.00 loan fee when it disburses the loan and will deduct the fee from the...

  9. 7 CFR 3560.61 - Loan security.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 15 2010-01-01 2010-01-01 false Loan security. 3560.61 Section 3560.61 Agriculture... DIRECT MULTI-FAMILY HOUSING LOANS AND GRANTS Direct Loan and Grant Origination § 3560.61 Loan security... collateral. (2) The amount of the loan against the collateral does not exceed its estimated security value...

  10. Default mode network connectivity during task execution.

    Science.gov (United States)

    Vatansever, D; Menon, D K; Manktelow, A E; Sahakian, B J; Stamatakis, E A

    2015-11-15

    Initially described as task-induced deactivations during goal-directed paradigms of high attentional load, the unresolved functionality of default mode regions has long been assumed to interfere with task performance. However, recent evidence suggests a potential default mode network involvement in fulfilling cognitive demands. We tested this hypothesis in a finger opposition paradigm with task and fixation periods which we compared with an independent resting state scan using functional magnetic resonance imaging and a comprehensive analysis pipeline including activation, functional connectivity, behavioural and graph theoretical assessments. The results indicate task specific changes in the default mode network topography. Behaviourally, we show that increased connectivity of the posterior cingulate cortex with the left superior frontal gyrus predicts faster reaction times. Moreover, interactive and dynamic reconfiguration of the default mode network regions' functional connections illustrates their involvement with the task at hand with higher-level global parallel processing power, yet preserved small-world architecture in comparison with rest. These findings demonstrate that the default mode network does not disengage during this paradigm, but instead may be involved in task relevant processing. Copyright © 2015 Elsevier Inc. All rights reserved.

  11. Directed connectivity of brain default networks in resting state using GCA and motif.

    Science.gov (United States)

    Jiao, Zhuqing; Wang, Huan; Ma, Kai; Zou, Ling; Xiang, Jianbo

    2017-06-01

    Nowadays, there is a lot of interest in assessing functional interactions between key brain regions. In this paper, Granger causality analysis (GCA) and motif structure are adopted to study directed connectivity of brain default mode networks (DMNs) in resting state. Firstly, the time series of functional magnetic resonance imaging (fMRI) data in resting state were extracted, and the causal relationship values of the nodes representing related brain regions are analyzed in time domain to construct a default network. Then, the network structures were searched from the default networks of controls and patients to determine the fixed connection mode in the networks. The important degree of motif structures in directed connectivity of default networks was judged according to p-value and Z-score. Both node degree and average distance were used to analyze the effect degree an information transfer rate of brain regions in motifs and default networks, and efficiency of the network. Finally, activity and functional connectivity strength of the default brain regions are researched according to the change of energy distributions between the normals and the patients' brain regions. Experimental results demonstrate that, both normal subjects and stroke patients have some corresponding fixed connection mode of three nodes, and the efficiency and power spectrum of the patient's default network is somewhat lower than that of the normal person. In particular, the Right Posterior Cingulate Gyrus (PCG.R) has a larger change in functional connectivity and its activity. The research results verify the feasibility of the application of GCA and motif structure to study the functional connectivity of default networks in resting state.

  12. Risk factors associated with default among new pulmonary TB patients and social support in six Russian regions.

    Science.gov (United States)

    Jakubowiak, W M; Bogorodskaya, E M; Borisov, S E; Borisov, E S; Danilova, I D; Danilova, D I; Kourbatova, E V; Kourbatova, E K

    2007-01-01

    Tuberculosis (TB) services in six Russian regions in which social support programmes for TB patients were implemented. To identify risk factors for default and to evaluate possible impact of social support. Retrospective study of new pulmonary smear-positive and smear-negative TB patients registered during the second and third quarters of the 2003. Data were analysed in a case-control study including default patients as cases and successfully treated patients as controls, using multivariate logistic regression modelling. A total of 1805 cases of pulmonary TB were enrolled. Default rates in the regions were 2.3-6.3%. On multivariate analysis, risk factors independently associated with default outcome included: unemployment (OR 4.44; 95%CI 2.23-8.86), alcohol abuse (OR 1.99; 95%CI 1.04-3.81), and homelessness (OR 3.49; 95%CI 1.25-9.77). Social support reduced the default outcome (OR 0.13; 95%CI 0.06-0.28), controlling for age, sex, region, residence and acid-fast bacilli (AFB) smear of sputum. Unemployment, alcohol abuse and homelessness were associated with increased default outcome among new TB patients, while social support for TB patients reduced default. Further prospective randomised studies are necessary to evaluate the impact and to determine the most cost-effective social support for improving treatment outcomes of TB in patients in Russia, especially among populations at risk of default.

  13. Risk factors associated with default from multi- and extensively drug-resistant tuberculosis treatment, Uzbekistan: a retrospective cohort analysis.

    Science.gov (United States)

    Lalor, Maeve K; Greig, Jane; Allamuratova, Sholpan; Althomsons, Sandy; Tigay, Zinaida; Khaemraev, Atadjan; Braker, Kai; Telnov, Oleksander; du Cros, Philipp

    2013-01-01

    The Médecins Sans Frontières project of Uzbekistan has provided multidrug-resistant tuberculosis treatment in the Karakalpakstan region since 2003. Rates of default from treatment have been high, despite psychosocial support, increasing particularly since programme scale-up in 2007. We aimed to determine factors associated with default in multi- and extensively drug-resistant tuberculosis patients who started treatment between 2003 and 2008 and thus had finished approximately 2 years of treatment by the end of 2010. A retrospective cohort analysis of multi- and extensively drug-resistant tuberculosis patients enrolled in treatment between 2003 and 2008 compared baseline demographic characteristics and possible risk factors for default. Default was defined as missing ≥60 consecutive days of treatment (all drugs). Data were routinely collected during treatment and entered in a database. Potential risk factors for default were assessed in univariate analysis using chi-square test and in multivariate analysis with logistic regression. 20% (142/710) of patients defaulted after a median of 6 months treatment (IQR 2.6-9.9). Factors associated with default included severity of resistance patterns (pre-extensively drug-resistant/extensively drug-resistant tuberculosis adjusted odds ratio 0.52, 95%CI: 0.31-0.86), previous default (2.38, 1.09-5.24) and age >45 years (1.77, 1.10-2.87). The default rate was 14% (42/294) for patients enrolled 2003-2006 and 24% (100/416) for 2007-2008 enrolments (p = 0.001). Default from treatment was high and increased with programme scale-up. It is essential to ensure scale-up of treatment is accompanied with scale-up of staff and patient support. A successful first course of tuberculosis treatment is important; patients who had previously defaulted were at increased risk of default and death. The protective effect of severe resistance profiles suggests that understanding disease severity or fear may motivate against default. Targeted

  14. An Asset Protection Scheme for Banks Exposed to Troubled Loan Portfolios

    DEFF Research Database (Denmark)

    Grosen, Anders; Jessen, Pernille; Kokholm, Thomas

    2014-01-01

    We examine a specific portfolio credit derivative, an Asset Protection Scheme (APS), and its applicability as a discretionary regulatory tool to reduce asymmetric information and help restore the capital base of troubled banks. The APS can be a fair-valued contract with an appropriate structure...... of incentives. We apply two alternative multivariate structural default risk models: the classical Gaussian Merton model and a model based on Normal Inverse Gaussian processes. Using a data set on annual farm level data from 1996 to 2009, we use the Danish agricultural sector as a case study and price an APS...... on an agricultural loan portfolio. We compute the economic capital for this loan portfolio with and without an APS. Moreover, we illustrate how model risk in the form of parameter uncertainty is reduced when an APS is attached to the loan portfolio....

  15. 17 CFR 210.12-23 - Mortgage loans on real estate and interest earned on mortgages. 1

    Science.gov (United States)

    2010-04-01

    ... each of the above classes of mortgage loans the average gross rate of interest on mortgage loans held... mortgages sold Amortization of premium Other (describe) Balance at close of period $ If additions represent... item of mortgage loans on real estate investments has been written down or reserved against pursuant to...

  16. Default mode contributions to automated information processing.

    Science.gov (United States)

    Vatansever, Deniz; Menon, David K; Stamatakis, Emmanuel A

    2017-11-28

    Concurrent with mental processes that require rigorous computation and control, a series of automated decisions and actions govern our daily lives, providing efficient and adaptive responses to environmental demands. Using a cognitive flexibility task, we show that a set of brain regions collectively known as the default mode network plays a crucial role in such "autopilot" behavior, i.e., when rapidly selecting appropriate responses under predictable behavioral contexts. While applying learned rules, the default mode network shows both greater activity and connectivity. Furthermore, functional interactions between this network and hippocampal and parahippocampal areas as well as primary visual cortex correlate with the speed of accurate responses. These findings indicate a memory-based "autopilot role" for the default mode network, which may have important implications for our current understanding of healthy and adaptive brain processing.

  17. Systematic and Idiosyncratic Default Risk in Synthetic Credit Markets

    DEFF Research Database (Denmark)

    Feldhütter, Peter; Nielsen, Mads Stenbo

    2012-01-01

    We present a new estimation approach that allows us to extract from spreads in synthetic credit markets the contribution of systematic and idiosyncratic default risk to total default risk. Using an extensive dataset of 90,600 credit default swap and collateralized debt obligation (CDO) tranche...... spreads on the North American Investment Grade CDX index, we conduct an empirical analysis of an intensity-based model for correlated defaults. Our results show that systematic default risk is an explosive process with low volatility, while idiosyncratic default risk is more volatile but less explosive...

  18. 27 CFR 6.61 - Guaranteeing loans.

    Science.gov (United States)

    2010-04-01

    ... OF THE TREASURY LIQUORS âTIED-HOUSEâ Unlawful Inducements Guaranteeing Loans § 6.61 Guaranteeing loans. The act by an industry member of guaranteeing any loan or the repayment of any financial...

  19. 24 CFR 200.25 - Supplemental loans.

    Science.gov (United States)

    2010-04-01

    ... DEVELOPMENT GENERAL INTRODUCTION TO FHA PROGRAMS Requirements for Application, Commitment, and Endorsement... loans. A loan, advance of credit or purchase of an obligation representing a loan or advance of credit...

  20. 7 CFR 3560.612 - Loan limits.

    Science.gov (United States)

    2010-01-01

    ... DIRECT MULTI-FAMILY HOUSING LOANS AND GRANTS On-Farm Labor Housing § 3560.612 Loan limits. The maximum loan amount will be 100 percent of the allowable total development costs of on-farm labor housing and...

  1. Is the corporate loan market globally integrated? a pricing puzzle

    OpenAIRE

    Mark S. Carey; Gregory P. Nini

    2004-01-01

    We offer evidence that interest rate spreads on syndicated loans to corporate borrowers are economically significantly smaller in Europe than in the U.S., other things equal. Differences in borrower, loan and lender characteristics associated with equilibrium mechanisms suggested in the literature do not appear to explain the phenomenon. Borrowers overwhelmingly issue in their natural home market and bank portfolios display significant home "bias." This may explain why pricing discrepancies a...

  2. 76 FR 6555 - Loan Guaranty Revised Loan Modification Procedures

    Science.gov (United States)

    2011-02-07

    ... loan; and advances required to preserve the lien position, such as homeowner association fees, special... delinquent interest, advances, or other amounts due; extending the repayment terms; changing the interest... encountered two sets of circumstances that have caused difficulty in easily modifying loans to assist veterans...

  3. SAIL: automating interlibrary loan.

    Science.gov (United States)

    Lacroix, E M

    1994-01-01

    The National Library of Medicine (NLM) initiated the System for Automated Interlibrary Loan (SAIL) pilot project to study the feasibility of using imaging technology linked to the DOCLINE system to deliver copies of journal articles. During the project, NLM converted a small number of print journal issues to electronic form, linking the captured articles to the MEDLINE citation unique identifier. DOCLINE requests for these journals that could not be filled by network libraries were routed to SAIL. Nearly 23,000 articles from sixty-four journals recently selected for indexing in Index Medicus were scanned to convert them to electronic images. During fiscal year 1992, 4,586 scanned articles were used to fill 10,444 interlibrary loan (ILL) requests, and more than half of these were used only once. Eighty percent of all the articles were not requested at all. The total cost per article delivered was $10.76, substantially more than it costs to process a photocopy request. Because conversion costs were the major component of the total SAIL cost, and most of the articles captured for the project were not requested, this model was not cost-effective. Data on SAIL journal article use was compared with all ILL requests filled by NLM for the same period. Eighty-eight percent of all articles requested from NLM were requested only once. The results of the SAIL project demonstrated that converting journal articles to electronic images and storing them in anticipation of repeated requests would not meet NLM's objective to improve interlibrary loan. PMID:8004020

  4. Using collateral to secure loans

    OpenAIRE

    Yaron Leitner

    2006-01-01

    In “Using Collateral to Secure Loans,” Yaron Leitner asks: Why is collateral used to secure some loans, but not others? And why does collateral potentially involve more risk? He considers these questions, looking at some of the explanations for using collateral, focusing on its benefits and drawbacks.

  5. Default from neoadjuvant chemotherapy in premenopausal female ...

    African Journals Online (AJOL)

    Seventeen (38.6%) patients dropped out of treatment, before, during or after completing NAC. Ten of these defaulted due to inadequate funds to procure chemotherapy, three patients because they insisted on immediate mastectomy, and four of these patients refused surgery when they achieved complete clinical response, ...

  6. Updating default depths in the ISC bulletin

    Science.gov (United States)

    Bolton, Maiclaire K.; Storchak, Dmitry A.; Harris, James

    2006-09-01

    The International Seismological Centre (ISC) publishes the definitive global bulletin of earthquake locations. In the ISC bulletin, we aim to obtain a free depth, but often this is not possible. Subsequently, the first option is to obtain a depth derived from depth phases. If depth phases are not available, we then use the reported depth from a reputable local agency. Finally, as a last resort, we set a default depth. In the past, common depths of 10, 33, or multiples of 50 km have been assigned. Assigning a more meaningful default depth, specific to a seismic region will increase the consistency of earthquake locations within the ISC bulletin and allow the ISC to publish better positions and magnitude estimates. It will also improve the association of reported secondary arrivals to corresponding seismic events. We aim to produce a global set of default depths, based on a typical depth for each area, from well-constrained events in the ISC bulletin or where depth could be constrained using a consistent set of depth phase arrivals provided by a number of different reporters. In certain areas, we must resort to using other assumptions. For these cases, we use a global crustal model (Crust2.0) to set default depths to half the thickness of the crust.

  7. Collective strategic defaults: Bailouts and repayment incentives

    NARCIS (Netherlands)

    Vlahu, R.

    2008-01-01

    This paper shows that under a global games approach banks may be subject to risk of failure even when fundamentals are strong due to a coordination problem among debtors. As a result of collective strategic default a financially sound firm may claim inability to repay if it expects a sufficient

  8. Pricing of the Policy Life in Absence of Default Risk and Asset Liability Management

    OpenAIRE

    Giandomenico, Rossano

    2006-01-01

    The model, by using the option theory, determines the fair value of the life insurance policies in absence of default risk and shows that the fair fixed guaranteed interest-rate is less than the risk free interest rate due to the exchange of options between policyholders and shareholders. Furthermore, it shows that the effective liabilities duration is different from the duration of a default free zero coupon bond with the same time of maturity such that the equity value is immunized by using...

  9. 76 FR 79548 - Loan Participations; Purchase, Sale and Pledge of Eligible Obligations; Purchase of Assets and...

    Science.gov (United States)

    2011-12-22

    ..., a FICU purchasing a loan participation pool might perform statistical sampling in evaluating the..., since 2007, FISCUs- overall experienced a higher delinquency rate in their loan participation portfolios. At year-end 2010, the delinquency rate for the FISCU-participated portfolio was 4.11 percent...

  10. 17 CFR 10.94 - Setting aside of default.

    Science.gov (United States)

    2010-04-01

    ... 17 Commodity and Securities Exchanges 1 2010-04-01 2010-04-01 false Setting aside of default. 10... PRACTICE Disposition Without Full Hearing § 10.94 Setting aside of default. In order to prevent injustice and on such conditions as may be appropriate, (a) the Commission may at any time set aside a default...

  11. 48 CFR 252.237-7007 - Termination for default.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 3 2010-10-01 2010-10-01 false Termination for default... of Provisions And Clauses 252.237-7007 Termination for default. As prescribed in 237.7003(b), use the following clause: Termination for Default (DEC 1991) (a) This clause supplements and is in addition to the...

  12. 75 FR 60258 - Federal Acquisition Regulation; Termination for Default Reporting

    Science.gov (United States)

    2010-09-29

    ..., Sequence 1] RIN 9000-AL45 Federal Acquisition Regulation; Termination for Default Reporting AGENCIES... terminations for cause or default and defective cost or pricing data, into the Past Performance Information... defective cost or pricing data and terminations for cause or default into the FAPIIS module of the PPIRS...

  13. Default options and social welfare : Opt in versus opt out

    NARCIS (Netherlands)

    Bouckaert, J.M.C.; Degryse, H.A.

    2013-01-01

    We offer a social-welfare comparison of the two most prominent default options – opt in and opt out – using a two-period model of localized competition. We demonstrate that when consumers stick to the default option, the prevailing default policy shapes firms' ability to collect and use customer

  14. 24 CFR 232.830 - Definition of default.

    Science.gov (United States)

    2010-04-01

    ... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Definition of default. 232.830... Insurance § 232.830 Definition of default. (a) If the borrower fails to make any payments due under or... default for the purposes of this subpart. (b) The failure to perform any other covenant under the note or...

  15. 17 CFR 10.93 - Obtaining default order.

    Science.gov (United States)

    2010-04-01

    ... 17 Commodity and Securities Exchanges 1 2010-04-01 2010-04-01 false Obtaining default order. 10.93... Disposition Without Full Hearing § 10.93 Obtaining default order. When a respondent has failed to (a) file an... enter findings and conclusions and a default order against that respondent based upon the matters set...

  16. 27 CFR 25.173 - Brewer in default.

    Science.gov (United States)

    2010-04-01

    ... 27 Alcohol, Tobacco Products and Firearms 1 2010-04-01 2010-04-01 false Brewer in default. 25.173... OF THE TREASURY LIQUORS BEER Tax on Beer Prepayment of Tax § 25.173 Brewer in default. (a) When a... the brewer is otherwise in default in payment of tax under § 25.164, beer may not be removed for...

  17. 48 CFR 449.402-3 - Procedure for default.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 4 2010-10-01 2010-10-01 false Procedure for default. 449.402-3 Section 449.402-3 Federal Acquisition Regulations System DEPARTMENT OF AGRICULTURE CONTRACT MANAGEMENT TERMINATION OF CONTRACTS Termination for Default 449.402-3 Procedure for default. In addition to...

  18. 12 CFR 615.5280 - Retirement in event of default.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Retirement in event of default. 615.5280... Dividends § 615.5280 Retirement in event of default. (a) When the debt of a holder of eligible borrower... association or agricultural credit association is in default, such institution may, but shall not be required...

  19. 48 CFR 22.1023 - Termination for default.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 1 2010-10-01 2010-10-01 false Termination for default... Amended 22.1023 Termination for default. As provided by the Act, any contractor failure to comply with the requirements of the contract clauses related to the Act may be grounds for termination for default (see...

  20. 29 CFR 2570.5 - Consequences of default.

    Science.gov (United States)

    2010-07-01

    ... 29 Labor 9 2010-07-01 2010-07-01 false Consequences of default. 2570.5 Section 2570.5 Labor... ERISA Section 502(i) § 2570.5 Consequences of default. For prohibited transaction penalty proceedings... administrative law judge may set aside a default entered under this provision where there is proof of defective...

  1. 48 CFR 1449.402-3 - Procedure for default.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 5 2010-10-01 2010-10-01 false Procedure for default. 1449.402-3 Section 1449.402-3 Federal Acquisition Regulations System DEPARTMENT OF THE INTERIOR CONTRACT MANAGEMENT TERMINATION OF CONTRACTS Termination for Default 1449.402-3 Procedure for default. In...

  2. 27 CFR 40.166 - Default, prepayment of tax required.

    Science.gov (United States)

    2010-04-01

    ... 27 Alcohol, Tobacco Products and Firearms 2 2010-04-01 2010-04-01 false Default, prepayment of tax... Payment of Taxes on Tobacco Products § 40.166 Default, prepayment of tax required. Where a check or money... tax due thereunder, or where a manufacturer is otherwise in default in payment of tax on tobacco...

  3. 7 CFR 4280.129 - Evaluation of guaranteed loan applications.

    Science.gov (United States)

    2010-01-01

    ... the prime rate (as published in The Wall Street Journal) plus 1.5 percent, 5 points will be awarded. (2) If the interest rate on the loan is to be below the prime rate (as published in The Wall Street Journal) plus 1 percent, 10 points will be awarded. ...

  4. 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.

  5. Change and status quo in decisions with defaults: The effect of incidental emotions depends on the type of default

    OpenAIRE

    Shevchenko, Yury; von Helversen, Bettina; Scheibehenne, Benjamin

    2014-01-01

    Affective states can change how people react to measures aimed at influencing their decisions such as providing a default option. Previous research has shown that when defaults maintain the status quo positive mood increases reliance on the default and negative mood decreases it. Similarly, it has been demonstrated that positive mood enhances the preference for inaction. We extend this research by investigating how mood states influence reliance on the default if the defa...

  6. Relevance of financial information in quick loans negotiation

    Directory of Open Access Journals (Sweden)

    Salvador Cruz Rambaud

    2017-02-01

    Full Text Available Nowadays, most loan transactions are contracted by using the exponential discounting as the underlying standard economic model to value this type of financial operations. In a framework of absence of fees to be paid by the borrower, the interest rate of the exponential discount function is, moreover, the true interest rate of the operation. Nevertheless, there exist a set of circumstances which make this identity false. Among others, these characteristics are: the use of linear discount as the underlying discount function, splitting time when using a nominal interest rate, and the existence of fees in a loan at 0% interest rate. All these cases will be analyzed in this paper in the context of the so-called quick loans.

  7. Determinants of non-performing loans: The case of Eurozone

    Directory of Open Access Journals (Sweden)

    Makri Vasiliki

    2014-01-01

    Full Text Available The purpose of the present study is to identify the factors affecting the non-performing loans rate (NPL of Eurozone’s banking systems for the period 2000-2008, just before the beginning of the recession. In our days, Eurozone is in the middle of an unprecedented financial crisis, calling into question the soundness of the banking systems of European countries. Looking at both macro-variables (e.g. annual percentage growth rate of gross domestic product, public debt as % of gross domestic product, unemployment and micro-variables (e.g. loans to deposits ratio, return on assets, return on equity, we investigate which factors determine NPL on aggregate level. Overall, our findings reveal strong correlations between NPL and various macroeconomic (public debt, unemployment, annual percentage growth rate of gross domestic product and bank-specific (capital adequacy ratio, rate of nonperforming loans of the previous year and return on equity factors.

  8. 75 FR 53007 - Gulf Opportunity Pilot Loan Program (GO Loan Pilot)

    Science.gov (United States)

    2010-08-30

    ... SMALL BUSINESS ADMINISTRATION Gulf Opportunity Pilot Loan Program (GO Loan Pilot) AGENCY: U.S...'s GO Loan Pilot until September 30, 2011. Due to the scope and magnitude of the devastation to... streamlined and centralized loan processing available through the GO Loan Pilot to small businesses in the...

  9. Student Loans Driving You Crazy? A Borrower's Guide to Direct Consolidation Loans.

    Science.gov (United States)

    Office of Federal Student Aid (ED), Washington, DC.

    This booklet describes the Direct Consolidation Loan program students can use to combine one or more student loans into a new loan. Things to consider before seeking a consolidation loan are outlined. Direct consolidation loans offer a number of advantages; they are free, result in one lender and one monthly payment, and offer flexible repayment…

  10. 78 FR 64294 - Loan Guaranty: Mandatory Electronic Delivery of Loan Files for Review

    Science.gov (United States)

    2013-10-28

    ... DEPARTMENT OF VETERANS AFFAIRS Loan Guaranty: Mandatory Electronic Delivery of Loan Files for... Affairs (VA) Loan Guaranty Service (LGY) announces a new policy with regard to lender submission of VA- guaranteed closed loan files for review. Currently, lenders can submit loan files selected for review by LGY...

  11. 76 FR 27986 - Funding for the Conservation Loan Program; Farm Loan Programs

    Science.gov (United States)

    2011-05-13

    ... for the Conservation Loan Program; Farm Loan Programs AGENCY: Farm Service Agency, USDA. ACTION... or guaranteed loan applications for the Conservation Loan (CL) Program because of lack of program... provisions to the existing direct and guaranteed loan regulations found in 7 CFR parts 761, 762, 764, 765...

  12. 77 FR 13530 - Funding for the Conservation Loan Program; Farm Loan Programs

    Science.gov (United States)

    2012-03-07

    ... DEPARTMENT OF AGRICULTURE Farm Service Agency Funding for the Conservation Loan Program; Farm Loan... Service Agency (FSA) now has funding for and is accepting guaranteed loan applications for the Conservation Loan (CL) Program. Due to a lack of program funding for direct CLs, direct loan applications are...

  13. 7 CFR 1735.73 - Loan design.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 11 2010-01-01 2010-01-01 false Loan design. 1735.73 Section 1735.73 Agriculture... Funds § 1735.73 Loan design. When loan funds are requested for an acquisition, details of the proposed acquisition shall be included in the Loan Design. See 7 CFR part 1737. ...

  14. 7 CFR 1980.481 - Insured loans.

    Science.gov (United States)

    2010-01-01

    ... REGULATIONS (CONTINUED) GENERAL Business and Industrial Loan Program § 1980.481 Insured loans. Applications...) Constructing and equipping industrial plants for lease to private businesses (not including loans for operating... concurrence prior to approval. B. Applications from private parties for insured loans will not be encouraged...

  15. 7 CFR 773.7 - Loan uses.

    Science.gov (United States)

    2010-01-01

    ... PROGRAMS SPECIAL APPLE LOAN PROGRAM § 773.7 Loan uses. Loan funds may be used for any of the following purposes related to the production or marketing of apples: (a) Payment of costs associated with..., processing or marketing purposes; or (h) Payment of loan closing costs. ...

  16. 7 CFR 1822.274 - Loan closing.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 12 2010-01-01 2010-01-01 false Loan closing. 1822.274 Section 1822.274 Agriculture... SERVICE, RURAL UTILITIES SERVICE, AND FARM SERVICE AGENCY, DEPARTMENT OF AGRICULTURE LOANS AND GRANTS PRIMARILY FOR REAL ESTATE PURPOSES RURAL HOUSING LOANS AND GRANTS Rural Housing Site Loan Policies...

  17. 24 CFR 573.4 - Loan term.

    Science.gov (United States)

    2010-04-01

    ... 24 Housing and Urban Development 3 2010-04-01 2010-04-01 false Loan term. 573.4 Section 573.4 Housing and Urban Development Regulations Relating to Housing and Urban Development (Continued) OFFICE OF... COMMUNITY FACILITIES LOAN GUARANTEE RECOVERY FUND § 573.4 Loan term. The term of the loan to be guaranteed...

  18. 44 CFR 206.371 - Loan program.

    Science.gov (United States)

    2010-10-01

    ... 44 Emergency Management and Assistance 1 2010-10-01 2010-10-01 false Loan program. 206.371 Section... HOMELAND SECURITY DISASTER ASSISTANCE FEDERAL DISASTER ASSISTANCE Community Disaster Loans § 206.371 Loan... Special Community Disaster Loan to any local government which has suffered a substantial loss of tax and...

  19. 7 CFR 1776.16 - Loan servicing.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 12 2010-01-01 2010-01-01 false Loan servicing. 1776.16 Section 1776.16 Agriculture... (CONTINUED) HOUSEHOLD WATER WELL SYSTEM GRANT PROGRAM HWWS Loans § 1776.16 Loan servicing. (a) If RUS determines that HWWS loans may be serviced by CSC, then the grant recipient will enter into an agreement with...

  20. 5 CFR 1620.35 - Loan payments.

    Science.gov (United States)

    2010-01-01

    ... 5 Administrative Personnel 3 2010-01-01 2010-01-01 false Loan payments. 1620.35 Section 1620.35... Nonappropriated Fund Employees § 1620.35 Loan payments. NAF instrumentalities must deduct and transmit TSP loan... CFR part 1655 and Board procedures. Loan payments may not be deducted and transmitted for employees...

  1. 24 CFR 1007.35 - Loan terms.

    Science.gov (United States)

    2010-04-01

    ... 24 Housing and Urban Development 4 2010-04-01 2010-04-01 false Loan terms. 1007.35 Section 1007.35... LOAN GUARANTEES FOR NATIVE HAWAIIAN HOUSING § 1007.35 Loan terms. To be eligible for guarantee under this part, the loan shall: (a) Be made for a term not exceeding 30 years; (b) Bear interest (exclusive...

  2. 14 CFR 1300.15 - Loan terms.

    Science.gov (United States)

    2010-01-01

    ... 14 Aeronautics and Space 5 2010-01-01 2010-01-01 false Loan terms. 1300.15 Section 1300.15... DISASTER RELIEF-AIR CARRIER GUARANTEE LOAN PROGRAM Minimum Requirements and Application Procedures § 1300.15 Loan terms. (a) A loan guaranteed under the program shall be due and payable in full no later than...

  3. 75 FR 14331 - Disaster Assistance Loan Program

    Science.gov (United States)

    2010-03-25

    ... SMALL BUSINESS ADMINISTRATION 13 CFR Part 123 RIN 3245-AF98 Disaster Assistance Loan Program...-term disaster loans to homeowners, renters, businesses, and non-profit organizations that have been... to disaster victims by raising the statutory loan limit for loans to businesses, increasing the...

  4. 44 CFR 206.361 - Loan program.

    Science.gov (United States)

    2010-10-01

    ... 44 Emergency Management and Assistance 1 2010-10-01 2010-10-01 false Loan program. 206.361 Section... HOMELAND SECURITY DISASTER ASSISTANCE FEDERAL DISASTER ASSISTANCE Community Disaster Loans § 206.361 Loan... Community Disaster Loan to any local government which has suffered a substantial loss of tax and other...

  5. 5 CFR 1655.12 - Loan agreement.

    Science.gov (United States)

    2010-01-01

    ... 5 Administrative Personnel 3 2010-01-01 2010-01-01 false Loan agreement. 1655.12 Section 1655.12 Administrative Personnel FEDERAL RETIREMENT THRIFT INVESTMENT BOARD LOAN PROGRAM § 1655.12 Loan agreement. (a) Upon determining that a loan application meets the requirements of this part, the TSP record keeper...

  6. 7 CFR 771.15 - Loan servicing.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 7 2010-01-01 2010-01-01 false Loan servicing. 771.15 Section 771.15 Agriculture... SPECIAL PROGRAMS BOLL WEEVIL ERADICATION LOAN PROGRAM § 771.15 Loan servicing. (a) Advances. FSA may make... advances. (b) Payments. Payments will be made to FSA as set forth in loan agreements and debt instruments...

  7. 77 FR 59346 - Payday-Alternative Loans

    Science.gov (United States)

    2012-09-27

    ... NATIONAL CREDIT UNION ADMINISTRATION 12 CFR Part 701 RIN 3133-AE08 Payday-Alternative Loans AGENCY...: The NCUA Board (Board) is currently reviewing its regulation governing payday-alternative loans (PAL... to offer PAL loans, previously referred to as short- term, small amount loans, as an alternative to...

  8. 31 CFR 25.400 - Loan provisions.

    Science.gov (United States)

    2010-07-01

    ... SALES LOANS MADE BY THE DEFENSE SECURITY ASSISTANCE AGENCY AND FOREIGN MILITARY SALES LOANS MADE BY THE FEDERAL FINANCING BANK AND GUARANTEED BY THE DEFENSE SECURITY ASSISTANCE AGENCY Form of Private Loan § 25... 31 Money and Finance: Treasury 1 2010-07-01 2010-07-01 false Loan provisions. 25.400 Section 25...

  9. 7 CFR 764.402 - Loan closing.

    Science.gov (United States)

    2010-01-01

    ... SPECIAL PROGRAMS DIRECT LOAN MAKING Loan Decision and Closing § 764.402 Loan closing. (a) Signature... information for the Agency to reconfirm approval and proceed with loan closing. (3) The Agency or closing... account will be used according to subpart B of part 761 of this chapter when these processes are not...

  10. Drug addiction and alcoholism as predictors for tuberculosis treatment default in Brazil: a prospective cohort study.

    Science.gov (United States)

    Silva, M R; Pereira, J C; Costa, R R; Dias, J A; Guimarães, M D C; Leite, I C G

    2017-12-01

    This study aimed to evaluate the risk factors for tuberculosis (TB) treatment default in a priority city for disease control in Brazil. A cohort of TB cases diagnosed from 2008 to 2009 was followed up from patients' entry into three outpatient sites, in Juiz de Fora, Minas Gerais (Brazil), until the recording of the outcomes. Drug addiction, alcoholism and treatment site appeared to be independently associated with default. Current users of crack as the hardest drug (odds ratio (OR) 12·25, 95% confidence interval (CI) 3·04-49·26) were more likely to default than other hard drug users (OR 5·67, 95% CI 1·34-24·03), former users (OR 4·12, 95% CI 1·11-15·20) and those not known to use drugs (reference group). Consumers at high risk of alcoholism (OR 2·94, 95% CI 1·08-7·99) and those treated in an outpatient hospital unit (OR 8·22, 95% CI 2·79-24·21%) also were more likely to default. Our results establish that substance abuse was independently associated with default. National TB programmes might be more likely to achieve their control targets if they include interventions aimed at improving adherence and cure rates, by diagnosing and treating substance abuse concurrently with standard TB therapy.

  11. Domestic violence is a leading risk factor in default from colposcopy services.

    Science.gov (United States)

    Collier, Rachael; Quinlivan, Julie A

    2014-06-01

    Domestic violence is common in women and is associated with poorer health-care outcomes. However, no causal pathway has been identified to explain this observation. We have followed a cohort of women to determine whether poorer outcomes can be explained by high rates of default and loss to follow-up. A prospective cohort study was performed. Institutional ethics approval was obtained. Participants were consecutive patients attending colposcopy clinics at a major metropolitan hospital in Australia. Following ascertainment of domestic violence status, appointment outcomes for colposcopy services were tracked for a 3-year period. Multivariate analysis was undertaken to determine demographic factors associated with default from care and loss to follow-up. Of 581 women approached, consent was obtained from 574 women (99%). Domestic violence status was obtained from 566 women, of whom 187 (33%) had a recent history of exposure. Women exposed to violence were more likely to default from colposcopy once (26.2% vs 7.4%; P default and loss to follow-up. Domestic violence is a risk factor for default from attendance and loss to follow-up at colposcopy services. This may explain the mechanism behind adverse health-care outcomes seen. Screening and targeted appointment intervention programs may improve clinical compliance. © 2014 The Authors. Journal of Obstetrics and Gynaecology Research © 2014 Japan Society of Obstetrics and Gynecology.

  12. Joint default probabilities and sovereign risk

    NARCIS (Netherlands)

    Scholtens, Bert; Hameeteman, Daphne

    2007-01-01

    The assessment of sovereign risk is of crucial importance for international lenders and investors. Many existing sovereign risk approaches are opaque and heavily rely on subjective choices. In general, they lack a theoretical basis. To assess sovereign risk, we use the Merton model in which a loan

  13. Counting Processes for Retail Default Modeling

    DEFF Research Database (Denmark)

    Kiefer, Nicholas Maximilian; Larson, C. Erik

    on high LTV mortgages. Borrowers seeking to finance more than 80% of a house's value with a mortgage usually either purchase mortgage insurance, allowing a first mortgage greater than 80% from many lenders, or use second mortgages. Are there differences in performance between loans financed...

  14. Nudge for (the Public) Good: How Defaults Can Affect Cooperation.

    Science.gov (United States)

    Fosgaard, Toke R; Piovesan, Marco

    2015-01-01

    In this paper we test the effect of non-binding defaults on the level of contribution to a public good. We manipulate the default numbers appearing on the decision screen to nudge subjects toward a free-rider strategy or a perfect conditional cooperator strategy. Our results show that the vast majority of our subjects did not adopt the default numbers, but their stated strategy was affected by the default. Moreover, we find that our manipulation spilled over to a subsequent repeated public goods game where default was not manipulated. Here we found that subjects who previously saw the free rider default were significantly less cooperative than those who saw the perfect conditional cooperator default.

  15. Nudge for (the Public Good: How Defaults Can Affect Cooperation.

    Directory of Open Access Journals (Sweden)

    Toke R Fosgaard

    Full Text Available In this paper we test the effect of non-binding defaults on the level of contribution to a public good. We manipulate the default numbers appearing on the decision screen to nudge subjects toward a free-rider strategy or a perfect conditional cooperator strategy. Our results show that the vast majority of our subjects did not adopt the default numbers, but their stated strategy was affected by the default. Moreover, we find that our manipulation spilled over to a subsequent repeated public goods game where default was not manipulated. Here we found that subjects who previously saw the free rider default were significantly less cooperative than those who saw the perfect conditional cooperator default.

  16. 77 FR 76414 - William D. Ford Federal Direct Loan Program

    Science.gov (United States)

    2012-12-28

    ... Federal Direct Loan Program AGENCY: Department of Education. ACTION: Final regulations; correction... Loan (Perkins Loan) Program; the Federal Family Education Loan (FFEL) Program; and the William D. Ford Federal Direct Loan (Direct Loan) Program, including the Public Service Loan Forgiveness (PSLF) Program...

  17. Credit Default Swaps networks and systemic risk

    Science.gov (United States)

    Puliga, Michelangelo; Caldarelli, Guido; Battiston, Stefano

    2014-11-01

    Credit Default Swaps (CDS) spreads should reflect default risk of the underlying corporate debt. Actually, it has been recognized that CDS spread time series did not anticipate but only followed the increasing risk of default before the financial crisis. In principle, the network of correlations among CDS spread time series could at least display some form of structural change to be used as an early warning of systemic risk. Here we study a set of 176 CDS time series of financial institutions from 2002 to 2011. Networks are constructed in various ways, some of which display structural change at the onset of the credit crisis of 2008, but never before. By taking these networks as a proxy of interdependencies among financial institutions, we run stress-test based on Group DebtRank. Systemic risk before 2008 increases only when incorporating a macroeconomic indicator reflecting the potential losses of financial assets associated with house prices in the US. This approach indicates a promising way to detect systemic instabilities.

  18. Credit Default Swaps networks and systemic risk.

    Science.gov (United States)

    Puliga, Michelangelo; Caldarelli, Guido; Battiston, Stefano

    2014-11-04

    Credit Default Swaps (CDS) spreads should reflect default risk of the underlying corporate debt. Actually, it has been recognized that CDS spread time series did not anticipate but only followed the increasing risk of default before the financial crisis. In principle, the network of correlations among CDS spread time series could at least display some form of structural change to be used as an early warning of systemic risk. Here we study a set of 176 CDS time series of financial institutions from 2002 to 2011. Networks are constructed in various ways, some of which display structural change at the onset of the credit crisis of 2008, but never before. By taking these networks as a proxy of interdependencies among financial institutions, we run stress-test based on Group DebtRank. Systemic risk before 2008 increases only when incorporating a macroeconomic indicator reflecting the potential losses of financial assets associated with house prices in the US. This approach indicates a promising way to detect systemic instabilities.

  19. Default probabilities, CDS premiums and downgrades : A probit-MIDAS analysis

    NARCIS (Netherlands)

    Freitag, L.

    2014-01-01

    This paper examines the relationship between sovereign credit default swaps (CDS) and sovereign rating changes of European countries. To this aim, a new estimator is introduced which merges mixed data sampling (MIDAS) with probit regression. Simulations show that the estimator has good properties in

  20. Risk factors of treatment default and death among tuberculosis patients in a resource-limited setting.

    Science.gov (United States)

    Alobu, Isaac; Oshi, Sarah N; Oshi, Daniel C; Ukwaja, Kingsley N

    2014-12-01

    To evaluate the rates, timing and determinants of default and death among adult tuberculosis patients in Nigeria. Routine surveillance data were used. A retrospective cohort study of adult tuberculosis patients treated during 2011 and 2012 in two large health facilities in Ebonyi State, Nigeria was conducted. Multivariable logistic regression analyses were used to identify independent predictors for treatment default and death. Of 1 668 treated patients, the default rate was 157 (9.4%), whilst 165 (9.9%) died. Also, 35.7% (56) of the treatment defaults and 151 (91.5%) of deaths occurred during the intensive phase of treatment. Risk of default increased with increasing age (adjusted odds ratio (aOR) 1.2; 95% confidence interval (CI) 1.1-1.9), smear-negative TB case (aOR 2.3; CI 1.5-3.6), extrapulmonary TB case (aOR 2.7; CI 1.3-5.2), and patients who received the longer treatment regimen (aOR 1.6; 1.1-2.2). Risk of death was highest in extrapulmonary TB (aOR 3.0; CI 1.4-6.1) and smear-negative TB cases (aOR 2.4; CI 1.7-3.5), rural residents (aOR 1.7; CI 1.2-2.6), HIV co-infected (aOR 2.5; CI 1.7-3.6), not receiving antiretroviral therapy (aOR 1.6; CI 1.1-2.9), and not receiving cotrimoxazole prophylaxis (aOR 1.7; CI 1.2-2.6). Targeted interventions to improve treatment adherence for patients with the highest risk of default or death are urgently needed. This needs to be urgently addressed by the National Tuberculosis Programme. Copyright © 2014 Hainan Medical College. Published by Elsevier B.V. All rights reserved.

  1. 49 CFR 22.13 - Loan terms and conditions.

    Science.gov (United States)

    2010-10-01

    ...; and it is encouraged for those business applicants that do not have a management succession plan... in effect on the first business day of the month in which the STLP loan guarantee is approved by DOT OSDBU. The prime rate is the rate printed in a national financial newspaper published each business day...

  2. Factors associated with default from treatment among tuberculosis patients in nairobi province, Kenya: A case control study

    Science.gov (United States)

    2011-01-01

    .56; 95% CI 1.25-1.94) and male gender (OR 1.43; 95% CI 1.15-1.78) were independently associated with default. Conclusion The rate of defaulting was highest during initial two months, the intensive phase of treatment. Multiple factors were attributed by defaulting patients as cause for abandoning treatment whereas several were independently associated with default. Enhanced patient pre-treatment counseling and education about TB is recommended. PMID:21906291

  3. 38 CFR 36.4280 - Reporting of defaults.

    Science.gov (United States)

    2010-07-01

    ...) LOAN GUARANTY Guaranty of Loans to Veterans to Purchase Manufactured Homes and Lots, Including Site... delivery by certified mail to the Secretary of a notice of intention to take such action; provided, that...

  4. 12 CFR 32.7 - Residential real estate loans, small business loans, and small farm loans.

    Science.gov (United States)

    2010-01-01

    ... concerns about credit quality, undue concentrations in the bank's portfolio of residential real estate, small business, or small farm loans, or concerns about the bank's overall credit risk management systems...

  5. 38 CFR 3.315 - Basic eligibility determinations; dependents, loans, education.

    Science.gov (United States)

    2010-07-01

    ... 38 Pensions, Bonuses, and Veterans' Relief 1 2010-07-01 2010-07-01 false Basic eligibility determinations; dependents, loans, education. 3.315 Section 3.315 Pensions, Bonuses, and Veterans' Relief... Ratings and Evaluations; Service Connection § 3.315 Basic eligibility determinations; dependents, loans...

  6. 7 CFR 1717.154 - Transitional assistance in connection with new loans.

    Science.gov (United States)

    2010-01-01

    ... and efficiencies to be realized from the merger and the relative importance of loan priority to... at least one of the merging parties is an active borrower. (b) Supplemental financing.(1) RUS generally requires that an applicant for a municipal rate loan obtain a portion of its debt financing from a...

  7. Fewer Resources, More Debt: Loan Debt Burdens Students at Historically Black Colleges and Universities

    Science.gov (United States)

    Saunders, Katherine M.; Williams, Krystal L.; Smith, Cheryl L.

    2016-01-01

    Student loans have become an increasingly important way for students and their families to pay for college, but for students at historically black colleges and universities (HBCUs), student loan debt is a substantial burden. Students who attend these institutions--many of whom are low-income and first-generation--must borrow at higher rates and,…

  8. 25 CFR 103.6 - To what extent will BIA guarantee or insure a loan?

    Science.gov (United States)

    2010-04-01

    ... insurance percentage rate that satisfies the lender's risk management requirements. (d) Absent exceptional... lender has insured under the Program as of the date the lender makes a claim under its insurance coverage... outstanding loans from the same lender to the same borrower; or (2) One loan guaranty under the Program when...

  9. 13 CFR 120.710 - What is the Loan Loss Reserve Fund?

    Science.gov (United States)

    2010-01-01

    ... in the MRF caused by delinquencies or losses on Microloans. An Intermediary must maintain the LLRF..., purchase rate and loss rate), loan volume to the extent that it impacts performance measures, and other...

  10. Credit reporting, relationship banking, and loan repayment

    Directory of Open Access Journals (Sweden)

    Tahereh Shirzad Kebria

    2015-06-01

    Full Text Available This paper presents an empirical investigation to determine factors influencing on loan repayment in one of Iranian banks named Sepah Bank over the period 2012-2013. The study selects a sample of 290 bank’s customers who received loans and, using logistic regression technique, tries to find whether or not qualitative as well as quantitative characteristics of loan receivers influence on repayment of loans. The results indicate that history of outstanding debt as well as customers’ past experiences with banks had meaningful relationships with having bad credit and non-payment of loans. In our survey, having a bad credit in the past had positive relationship with non-payment of loans but long-term customers had negative relationship with non-payment of loans. In addition, working capital turnover ratio, cash ratio, total liabilities, current assets and loan value had significant impact on non-repayment of the loan facilities.

  11. 7 CFR 1714.6 - Interest rate term.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 11 2010-01-01 2010-01-01 false Interest rate term. 1714.6 Section 1714.6 Agriculture... PRE-LOAN POLICIES AND PROCEDURES FOR INSURED ELECTRIC LOANS General § 1714.6 Interest rate term. (a) Municipal rate loans. Selection of interest rate terms shall be made by the borrower for each advance of...

  12. Treatment Default amongst Patients with Tuberculosis in Urban Morocco: Predicting and Explaining Default and Post-Default Sputum Smear and Drug Susceptibility Results

    Science.gov (United States)

    Ghali, Iraqi; Kizub, Darya; Billioux, Alexander C.; Bennani, Kenza; Bourkadi, Jamal Eddine; Benmamoun, Abderrahmane; Lahlou, Ouafae; Aouad, Rajae El; Dooley, Kelly E.

    2014-01-01

    Setting Public tuberculosis (TB) clinics in urban Morocco. Objective Explore risk factors for TB treatment default and develop a prediction tool. Assess consequences of default, specifically risk for transmission or development of drug resistance. Design Case-control study comparing patients who defaulted from TB treatment and patients who completed it using quantitative methods and open-ended questions. Results were interpreted in light of health professionals’ perspectives from a parallel study. A predictive model and simple tool to identify patients at high risk of default were developed. Sputum from cases with pulmonary TB was collected for smear and drug susceptibility testing. Results 91 cases and 186 controls enrolled. Independent risk factors for default included current smoking, retreatment, work interference with adherence, daily directly observed therapy, side effects, quick symptom resolution, and not knowing one’s treatment duration. Age >50 years, never smoking, and having friends who knew one’s diagnosis were protective. A simple scoring tool incorporating these factors was 82.4% sensitive and 87.6% specific for predicting default in this population. Clinicians and patients described additional contributors to default and suggested locally-relevant intervention targets. Among 89 cases with pulmonary TB, 71% had sputum that was smear positive for TB. Drug resistance was rare. Conclusion The causes of default from TB treatment were explored through synthesis of qualitative and quantitative data from patients and health professionals. A scoring tool with high sensitivity and specificity to predict default was developed. Prospective evaluation of this tool coupled with targeted interventions based on our findings is warranted. Of note, the risk of TB transmission from patients who default treatment to others is likely to be high. The commonly-feared risk of drug resistance, though, may be low; a larger study is required to confirm these findings

  13. Treatment default amongst patients with tuberculosis in urban Morocco: predicting and explaining default and post-default sputum smear and drug susceptibility results.

    Science.gov (United States)

    Cherkaoui, Imad; Sabouni, Radia; Ghali, Iraqi; Kizub, Darya; Billioux, Alexander C; Bennani, Kenza; Bourkadi, Jamal Eddine; Benmamoun, Abderrahmane; Lahlou, Ouafae; Aouad, Rajae El; Dooley, Kelly E

    2014-01-01

    Public tuberculosis (TB) clinics in urban Morocco. Explore risk factors for TB treatment default and develop a prediction tool. Assess consequences of default, specifically risk for transmission or development of drug resistance. Case-control study comparing patients who defaulted from TB treatment and patients who completed it using quantitative methods and open-ended questions. Results were interpreted in light of health professionals' perspectives from a parallel study. A predictive model and simple tool to identify patients at high risk of default were developed. Sputum from cases with pulmonary TB was collected for smear and drug susceptibility testing. 91 cases and 186 controls enrolled. Independent risk factors for default included current smoking, retreatment, work interference with adherence, daily directly observed therapy, side effects, quick symptom resolution, and not knowing one's treatment duration. Age >50 years, never smoking, and having friends who knew one's diagnosis were protective. A simple scoring tool incorporating these factors was 82.4% sensitive and 87.6% specific for predicting default in this population. Clinicians and patients described additional contributors to default and suggested locally-relevant intervention targets. Among 89 cases with pulmonary TB, 71% had sputum that was smear positive for TB. Drug resistance was rare. The causes of default from TB treatment were explored through synthesis of qualitative and quantitative data from patients and health professionals. A scoring tool with high sensitivity and specificity to predict default was developed. Prospective evaluation of this tool coupled with targeted interventions based on our findings is warranted. Of note, the risk of TB transmission from patients who default treatment to others is likely to be high. The commonly-feared risk of drug resistance, though, may be low; a larger study is required to confirm these findings.

  14. Treatment default amongst patients with tuberculosis in urban Morocco: predicting and explaining default and post-default sputum smear and drug susceptibility results.

    Directory of Open Access Journals (Sweden)

    Imad Cherkaoui

    Full Text Available Public tuberculosis (TB clinics in urban Morocco.Explore risk factors for TB treatment default and develop a prediction tool. Assess consequences of default, specifically risk for transmission or development of drug resistance.Case-control study comparing patients who defaulted from TB treatment and patients who completed it using quantitative methods and open-ended questions. Results were interpreted in light of health professionals' perspectives from a parallel study. A predictive model and simple tool to identify patients at high risk of default were developed. Sputum from cases with pulmonary TB was collected for smear and drug susceptibility testing.91 cases and 186 controls enrolled. Independent risk factors for default included current smoking, retreatment, work interference with adherence, daily directly observed therapy, side effects, quick symptom resolution, and not knowing one's treatment duration. Age >50 years, never smoking, and having friends who knew one's diagnosis were protective. A simple scoring tool incorporating these factors was 82.4% sensitive and 87.6% specific for predicting default in this population. Clinicians and patients described additional contributors to default and suggested locally-relevant intervention targets. Among 89 cases with pulmonary TB, 71% had sputum that was smear positive for TB. Drug resistance was rare.The causes of default from TB treatment were explored through synthesis of qualitative and quantitative data from patients and health professionals. A scoring tool with high sensitivity and specificity to predict default was developed. Prospective evaluation of this tool coupled with targeted interventions based on our findings is warranted. Of note, the risk of TB transmission from patients who default treatment to others is likely to be high. The commonly-feared risk of drug resistance, though, may be low; a larger study is required to confirm these findings.

  15. Default options in the ICU: widely used but insufficiently understood

    Science.gov (United States)

    Hart, Joanna; Halpern, Scott D.

    2015-01-01

    Purpose of review Default options dramatically influence the behavior of decision makers and may serve as effective decision support tools in the ICU. Their use in medicine has increased in an effort to improve efficiency, reduce errors, and harness the potential of healthcare technology. Recent findings Defaults often fall short of their predicted influence when employed in critical care settings as quality improvement interventions. Investigations reporting the use of defaults are often limited by variations in the relative effect across sites. Preimplementation experiments and long-term monitoring studies are lacking. Summary Defaults in the ICU may help or harm patients and clinical efficiency depending on their format and use. When constructing and encountering defaults, providers should be aware of their powerful and complex influences on decision making. Additional evaluations of the appropriate creation of healthcare defaults and their resulting intended and unintended consequences are needed. PMID:25203352

  16. Default Mode Dynamics for Global Functional Integration.

    Science.gov (United States)

    Vatansever, Deniz; Menon, David K; Manktelow, Anne E; Sahakian, Barbara J; Stamatakis, Emmanuel A

    2015-11-18

    The default mode network (DMN) has been traditionally assumed to hinder behavioral performance in externally focused, goal-directed paradigms and to provide no active contribution to human cognition. However, recent evidence suggests greater DMN activity in an array of tasks, especially those that involve self-referential and memory-based processing. Although data that robustly demonstrate a comprehensive functional role for DMN remains relatively scarce, the global workspace framework, which implicates the DMN in global information integration for conscious processing, can potentially provide an explanation for the broad range of higher-order paradigms that report DMN involvement. We used graph theoretical measures to assess the contribution of the DMN to global functional connectivity dynamics in 22 healthy volunteers during an fMRI-based n-back working-memory paradigm with parametric increases in difficulty. Our predominant finding is that brain modularity decreases with greater task demands, thus adapting a more global workspace configuration, in direct relation to increases in reaction times to correct responses. Flexible default mode regions dynamically switch community memberships and display significant changes in their nodal participation coefficient and strength, which may reflect the observed whole-brain changes in functional connectivity architecture. These findings have important implications for our understanding of healthy brain function, as they suggest a central role for the DMN in higher cognitive processing. The default mode network (DMN) has been shown to increase its activity during the absence of external stimulation, and hence was historically assumed to disengage during goal-directed tasks. Recent evidence, however, implicates the DMN in self-referential and memory-based processing. We provide robust evidence for this network's active contribution to working memory by revealing dynamic reconfiguration in its interactions with other networks

  17. Signals analysis of fluxgate array for wire rope defaults

    International Nuclear Information System (INIS)

    Gu Wei; Chu Jianxin

    2005-01-01

    In order to detecting the magnetic leakage fields of the wire rope defaults, a transducer made up of the fluxgate array is designed, and a series of the characteristic values of wire rope defaults signals are defined. By processing the characteristic signals, the LF or LMA of wire rope are distinguished, and the default extent is estimated. The experiment results of the new method for detecting the wire rope faults are introduced

  18. The Role of Demand Response in Default Service Pricing

    International Nuclear Information System (INIS)

    Barbose, Galen; Goldman, Charles; Neenan, Bernie

    2006-01-01

    In designing default service for competitive retail markets, demand response has been an afterthought at best. But that may be changing, as states that initiated customer choice in the past five to seven years reach an important juncture in retail market design and consider an RTP-type default service for large commercial and industrial customers. The authors describe the experience to date with RTP as a default service, focusing on its role as an instrument for cultivating price-responsive demand. (author)

  19. Default Bayesian Estimation of the Fundamental Frequency

    DEFF Research Database (Denmark)

    Nielsen, Jesper Kjær; Christensen, Mads Græsbøll; Jensen, Søren Holdt

    2013-01-01

    Joint fundamental frequency and model order esti- mation is an important problem in several applications. In this paper, a default estimation algorithm based on a minimum of prior information is presented. The algorithm is developed in a Bayesian framework, and it can be applied to both real....... Moreover, several approximations of the posterior distributions on the fundamental frequency and the model order are derived, and one of the state-of-the-art joint fundamental frequency and model order estimators is demonstrated to be a special case of one of these approximations. The performance...

  20. Default, non-default, markedness and complexity in the L2 English ...

    African Journals Online (AJOL)

    In the Principles and Parameters approach, parameters capture variation: languages do not differ randomly but along well-defined lines. Parameters typically take the form of a binary choice, such as yes/no or a similar option. In acquisition, a parameter is assumed to have a default setting as a starting point, which is ...

  1. Default Drug Doses in Anesthesia Information Management Systems.

    Science.gov (United States)

    Rodriquez, Luis I; Smaka, Todd J; Mahla, Michael; Epstein, Richard H

    2017-07-01

    In the United States, anesthesia information management systems (AIMS) are well established, especially within academic practices. Many hospitals are replacing their stand-alone AIMS during migration to an enterprise-wide electronic health record. This presents an opportunity to review choices made during the original implementation, based on actual usage. One area amenable to this informatics approach is the configuration in the AIMS of quick buttons for typical drug doses. The use of such short cuts, as opposed to manual typing of doses, simplifies and may improve the accuracy of drug documentation within the AIMS. We analyzed administration data from 3 different institutions, 2 of which had empirically configured default doses, and one in which defaults had not been set up. Our first hypothesis was that most (ie, >50%) of drugs would need at least one change to the existing defaults. Our second hypothesis was that for most (>50%) drugs, the 4 most common doses at the site lacking defaults would be included among the most common doses at the 2 sites with defaults. If true, this would suggest that having default doses did not affect the typical administration behavior of providers. The frequency distribution of doses for all drugs was determined, and the 4 most common doses representing at least 5% of total administrations for each drug were identified. The appropriateness of the current defaults was determined by the number of changes (0-4) required to match actual usage at the 2 hospitals with defaults. At the institution without defaults, the most frequent doses for the 20 most commonly administered drugs were compared with the default doses at the other institutions. At the 2 institutions with defaults, 84.7% and 77.5% of drugs required at least 1 change in the default drug doses (P default drug doses, 100% of the 20 most commonly administered doses (representing ≥5% of use for that drug) were included in the most commonly administered doses at the other 2

  2. Default network connectivity in medial temporal lobe amnesia.

    Science.gov (United States)

    Hayes, Scott M; Salat, David H; Verfaellie, Mieke

    2012-10-17

    There is substantial overlap between the brain regions supporting episodic memory and the default network. However, in humans, the impact of bilateral medial temporal lobe (MTL) damage on a large-scale neural network such as the default mode network is unknown. To examine this issue, resting fMRI was performed with amnesic patients and control participants. Seed-based functional connectivity analyses revealed robust default network connectivity in amnesia in cortical default network regions such as medial prefrontal cortex, posterior medial cortex, and lateral parietal cortex, as well as evidence of connectivity to residual MTL tissue. Relative to control participants, decreased posterior cingulate cortex connectivity to MTL and increased connectivity to cortical default network regions including lateral parietal and medial prefrontal cortex were observed in amnesic patients. In contrast, somatomotor network connectivity was intact in amnesic patients, indicating that bilateral MTL lesions may selectively impact the default network. Changes in default network connectivity in amnesia were largely restricted to the MTL subsystem, providing preliminary support from MTL amnesic patients that the default network can be fractionated into functionally and structurally distinct components. To our knowledge, this is the first examination of the default network in amnesia.

  3. Single Family Loan Sale Initiative - National Offering

    Data.gov (United States)

    Department of Housing and Urban Development — The FHA Office of Housing is conducting a series of mortgage loan sales under the Single Family Loan Sale (SFLS) Initiative. The current sales structure consists of...

  4. Discriminant Analysis of Student Loan Applications

    Science.gov (United States)

    Dyl, Edward A.; McGann, Anthony F.

    1977-01-01

    The use of discriminant analysis in identifying potentially "good" versus potentially "bad" student loans is explained. The technique is applied to a sample of 200 student loan applications at the University of Wyoming. (LBH)

  5. Financial Management: Emergency Steel Loan Guarantee Program

    National Research Council Canada - National Science Library

    2001-01-01

    In a February 1, 2001 letter, you expressed concerns about repayments of federally guaranteed loans by borrowers under the Emergency Steel Loan Guarantee Program and the effect of the program on the U.S. steel industry...

  6. 7 CFR 1718.103 - Loan contract provisions.

    Science.gov (United States)

    2010-01-01

    ... AGRICULTURE LOAN SECURITY DOCUMENTS FOR ELECTRIC BORROWERS Loan Contracts With Distribution Borrowers § 1718... security for the loan will be reasonably adequate and that the loan will be repaid according to the terms... other provisions as RUS may require to ensure loan repayment and reasonably adequate loan security. ...

  7. 76 FR 60960 - Gulf Opportunity Pilot Loan Program (GO Loan Pilot)

    Science.gov (United States)

    2011-09-30

    ... SMALL BUSINESS ADMINISTRATION Gulf Opportunity Pilot Loan Program (GO Loan Pilot) AGENCY: U.S.... SUMMARY: This notice announces the extension of SBA's GO Loan Pilot, with modifications, until December 31... processing available through the GO Loan Pilot to small businesses in the eligible parishes/counties through...

  8. 76 FR 30246 - Loan Policies and Operations; Loan Purchases From FDIC

    Science.gov (United States)

    2011-05-25

    ... FARM CREDIT ADMINISTRATION 12 CFR Part 614 RIN 3052-AC62 Loan Policies and Operations; Loan... Administration (FCA or we) issues this final rule to amend its regulations on loan policies and operations. This... purchase from the Federal Deposit Insurance Corporation (FDIC) loans to farmers, ranchers, producers or...

  9. 75 FR 56487 - Loan Policies and Operations; Loan Purchases From FDIC

    Science.gov (United States)

    2010-09-16

    ...-AC62 Loan Policies and Operations; Loan Purchases From FDIC AGENCY: Farm Credit Administration. ACTION... authority to purchase from the Federal Deposit Insurance Corporation loans to farmers, ranchers, producers... Federal Deposit Insurance Corporation loans to farmers, ranchers, producers or harvesters of aquatic...

  10. Bank Systemic Risk-Taking and Loan Pricing : Evidence from Syndicated Loans

    NARCIS (Netherlands)

    Gong, D.

    2014-01-01

    In this paper we document evidence of systemic risk taking from syndicated loan pricing. Using U.S. syndicated loan data, we find that the borrower's idiosyncratic risk is positively priced whereas systematic risk is negatively related to loan spreads, controlling for firm, loan and bank specific

  11. A default Bayesian hypothesis test for mediation.

    Science.gov (United States)

    Nuijten, Michèle B; Wetzels, Ruud; Matzke, Dora; Dolan, Conor V; Wagenmakers, Eric-Jan

    2015-03-01

    In order to quantify the relationship between multiple variables, researchers often carry out a mediation analysis. In such an analysis, a mediator (e.g., knowledge of a healthy diet) transmits the effect from an independent variable (e.g., classroom instruction on a healthy diet) to a dependent variable (e.g., consumption of fruits and vegetables). Almost all mediation analyses in psychology use frequentist estimation and hypothesis-testing techniques. A recent exception is Yuan and MacKinnon (Psychological Methods, 14, 301-322, 2009), who outlined a Bayesian parameter estimation procedure for mediation analysis. Here we complete the Bayesian alternative to frequentist mediation analysis by specifying a default Bayesian hypothesis test based on the Jeffreys-Zellner-Siow approach. We further extend this default Bayesian test by allowing a comparison to directional or one-sided alternatives, using Markov chain Monte Carlo techniques implemented in JAGS. All Bayesian tests are implemented in the R package BayesMed (Nuijten, Wetzels, Matzke, Dolan, & Wagenmakers, 2014).

  12. Default supply issues divides consumer advocates

    International Nuclear Information System (INIS)

    Anon.

    1999-01-01

    In Toronto, various agencies, all claiming to represent the best interests of consumers, have taken very different positions on the limits that should be placed on suppliers of standard electricity service, due to an unexpected effect of Ontario's market design. The debate has polarized into either support for the Market Design Committee's recommendations restricting local companies' distribution of electricity to one of passing on the spot market price to their standard customers or the view that municipal utilities should be permitted to enter into contracts for power in order to supply the needs of their standard service customers. The Independent Power Producers' Society of Ontario (IPPSO) takes the position that its member companies should have direct access to the default supply market and not to be forced to deal solely with the spot market to reach this market sector. This default market is expected to be the largest potential end use market in Ontario for the power produced and/or sold by IPPSO members. It is expected to be 70% of the total Ontario wholesale electricity market for many years to come

  13. Loan Growth Slowing down in 1st 7 Months

    Institute of Scientific and Technical Information of China (English)

    2004-01-01

    @@ The growth of loans significantly slowed during the first seven months of this year, which indicates the government's economic macro control measures are taking effect, the People's Bank of China (PBOC) said. By the end of July, outstanding loans of all financial institutions stood at RMB18.1 trillion (US$2.18 trillion),up 15.9% on a year-on-year basis. The growth rate compared to 23.2% registered during the same period in 2003,the central bank said.

  14. Promoting renewables through soft loans

    International Nuclear Information System (INIS)

    Marcks, C.

    1999-01-01

    The DtA, founded in 1950s, is a federal institution owned by the German government. It assists the government to implement its economic, environmental and social policy. Financial assistance is being granted mainly through soft loans. Such loans are a flexible instrument, permitting to partially correct prices without severely distorting market forces. They assure total financing while spreading the subsidy over the entire period of the engagement. This avoids windfall opportunities often related to direct subsidies. Investors, therefore, have an intrinsic motivation to only submit sound and profitable projects. (orig./RHM)

  15. Corporate fraud and bank loans:Evidence from china

    Institute of Scientific and Technical Information of China (English)

    Yunsen; Chen; Song; Zhu; Yutao; Wang

    2011-01-01

    Receiving punishment from regulators for corporate fraud can affect financing contracts between a firm and its bank,as both the firm’s credit risk and information risk increase after punishment By focusing on Chinese firms’borrowing behavior after events of corporate fraud,we find that firms’bank loans after punishment are not only significantly lower,but are also less than those for non-fraudulent firms.In addition,loan interest rates after punishment are not only higher than before,but also higher than those for their non-fraudulent counterparts.In addition,we find that corporate fraud indirectly destabilizes the"performance-bank loan"relationship.Our results suggest that corporate fraud negatively affects a firm’s ability to source debt financing,which provides new evidence about the economic consequences of fraud.

  16. APPLICATION OF LOANS AND THEIR IMPACT ON ECONOMIC DEVELOPMENT ASPECTS IN KOSOVO

    Directory of Open Access Journals (Sweden)

    Rexhepi Shaqir

    2014-07-01

    Full Text Available Abstract: Studies on the functioning of loan management models in banking institutions are of special significance for the ascertainment of efficient credit disbursement modalities and policies, with the aim of ensuring strategic and financial development. In their monetary programs, banks among other make assumptions on the increase of the demand for cash from loans for their respective economies and businesses. Supporting the economy through loans represents one of the main tasks of any banking system, and this is especially applicable in countries with specifics similar to our country. During the last half of the previous decade, the structure of deposits in the banking system underwent severe changes, which were generally in function of the country\\'s development, but also assisted in the development of the banking system itself. The overall tendency of the deposits in the banking system was positive, and charts and series matrixes show their ever growing tendencies. However, the vulnerability and problems of the first decade after the establishment of any banking system are reflected in crises and problems noted in the structure and level of deposits of such banking systems, which in the case of Kosovo was further reflected in external and internal factors affecting loans and their overall default.

  17. Parent Influence on Loan Pricing by Czech Banks

    Czech Academy of Sciences Publication Activity Database

    Derviz, Alexis; Raková, M.

    2012-01-01

    Roč. 21, č. 4 (2012), s. 434-449 ISSN 1210-0455 Institutional support: RVO:67985556 Keywords : multinational bank * interest rate * internal capital market Subject RIV: AH - Economics Impact factor: 0.561, year: 2012 http://library.utia.cas.cz/separaty/2013/E/derviz-parent influence on loan pricing by czech banks.pdf

  18. Key factors for loan repayment of micro entrepreneurs in Ghana

    NARCIS (Netherlands)

    Agbeko, Daniel

    2017-01-01

    This thesis examines the extent to what corporate social responsibility (CSR) strategies, entrepreneurial and business skills and programmes for training and monitoring improve microbusiness performance and loan repayment rates:

    ‘To what extent do corporate social responsibility

  19. 12 CFR 203.4 - Compilation of loan data.

    Science.gov (United States)

    2010-01-01

    ... a merger or acquisition, or as part of the acquisition of all of the assets and liabilities of a... updates). (12)(i) For originated loans subject to Regulation Z, 12 CFR part 226, the difference between... as of the date the interest rate is set, if that difference is equal to or greater than 1.5...

  20. 76 FR 5055 - Loan Servicing; Farm Loan Programs

    Science.gov (United States)

    2011-01-28

    ... suspending interest accrual and offsets, if a borrower has filed a claim of program discrimination that has... claim, including interest accruals and offsets, while the discrimination claim is being resolved. This... 761 Accounting, Loan programs--Agriculture, Rural areas. 7 CFR Part 766 Agriculture, Agricultural...