Kang, Min-Hyeok; Kwon, Oh-Yun; Kim, Yong-Wook; Kim, Ji-Won; Kim, Tae-Ho; Oh, Tae-Young; Weon, Jong-Hyuk; Lee, Tae-Sik; Oh, Jae-Seop
To determine the agreement among the items of the Korean physical therapist licensing examination, learning objectives of class subjects, and physical therapists' job descriptions. The main tasks of physical therapists were classified, and university courses related to the main tasks were also classified. Frequency analysis was used to determine the proportions of credits for the classified courses out of the total credits of major subjects, exam items related to the classified courses out of the total number of exam items, and universities that offer courses related to the Korean physical therapist licensing examination among the surveyed universities. The proportions of credits for clinical decision making and physical therapy diagnosis-related courses out of the total number credits for major subjects at universities were relatively low (2.06% and 2.58%, respectively). Although the main tasks of physical therapists are related to diagnosis and evaluation, the proportion of physiotherapy intervention-related items (35%) was higher than that of examination and evaluation-related items (25%) on the Korean physical therapist licensing examination. The percentages of universities that offer physical therapy diagnosis and clinical decision making-related courses were 58.62% and 68.97%, respectively. Both the proportion of physiotherapy diagnosis and evaluation-related items on the Korean physical therapist licensing examination, and the number of subjects related to clinical decision making and physical therapy diagnosis in the physical therapy curriculum, should be increased to ensure that the examination items and physical therapy curriculum reflect the practical tasks of physical therapists.
Kish, Laszlo B.; Entesari, Kamran; Granqvist, Claes-Göran; Kwan, Chiman
The statistical-physics-based Kirchhoff-law-Johnson-noise (KLJN) key exchange offers a new and simple unclonable system for credit/debit card chip authentication and payment. The key exchange, the authentication and the communication are unconditionally secure so that neither mathematics- nor statistics-based attacks are able to crack the scheme. The ohmic connection and the short wiring lengths between the chips in the card and the terminal constitute an ideal setting for the KLJN protocol, and even its simplest versions offer unprecedented security and privacy for credit/debit card chips and applications of physical unclonable functions (PUFs).
Newfoundland and Labrador Dept. of Education.
A description of the physics 3204 course in Newfoundland and Labrador is provided. The description includes: (1) statement of purpose, including general objectives of science education; (2) a list of six course objectives; (3) course content for units on sound, light, optical instruments, electrostatics, current electricity, Michael Faraday and…
Spence, John C; Holt, Nicholas L; Sprysak, Christopher J; Spencer-Cavaliere, Nancy; Caulfield, Timothy
A clear income gradient exists for the sport and physical activity (PA) participation of Canadian children. Governments in Canada recently introduced tax credits to alleviate the financial burden associated with registering a child in organized physical activity (including sport). The majority of these credits, including the Children's Fitness Tax Credit, are non-refundable (i.e., reduces the amount of income tax a person pays). Such credits are useful only for individuals who incur a certain level of tax liability. Thus, low-income families who may pay little or no income tax will not benefit from the presence of non-refundable tax credits. In this commentary, we argue that the non-refundable tax credit is inherently inequitable for promoting PA. We suggest that a combination of refundable tax credits and subsidized programming for low-income children would be more equitable than the current approach of the Canadian government and several provinces that are expending approximately $200 million to support these credits.
Dunton, Genevieve; Ebin, Vicki J; Efrat, Merav W; Efrat, Rafael; Lane, Christianne J; Plunkett, Scott
The current study investigates the extent to which a refundable tax credit could be used to increase low-income children's after-school physical activity levels. An experimental study was conducted evaluating the effectiveness of an intervention offering a simulated refundable tax credit to parents of elementary-school-age children (n = 130) for enrollment in after-school physical activity programs. A randomized controlled design was used, with data collected at baseline, immediately following the 4-month intervention (postintervention), and 6 weeks after the end of the intervention (follow-up). Evaluation measures included (1) enrollment rate, time spent, weekly participation frequency, duration of enrollment, and long-term enrollment patterns in after-school physical activity programs and (2) moderate to vigorous physical activity. The simulated tax credits did not significantly influence low-income children's rates of enrollment in after-school physical activity programs, frequency of participation, time spent in after-school physical activity programs, and overall moderate-to-vigorous intensity physical activity at postintervention or follow-up. The use of refundable tax credits as incentives to increase participation in after-school physical activity programs in low-income families may have limited effectiveness. Lawmakers might consider other methods of fiscal policy to promote physical activity such as direct payment to after-school physical activity program providers for enrolling and serving a low-income child in a qualified program, or improvements to programming and infrastructure.
This paper explores transaction cost determinants of credit governance structures (CGS) of commercial banks in Tanzania. Descriptive statistics, linear regression model, binary and multinomial logistic regression models were employed for analysis. Findings revealed four modes of credit governance structures that are ...
Okun, Michael S
The recent publication of Neurological Eponyms by Peter Koehler and colleagues has revived the interest in neurological eponyms and raised important questions about their use. Many investigators have contributed to the body of knowledge that defines the specialty of neurology. We honor them by associating their names with neurological diseases. The history of neurological eponyms provides us with an opportunity to reexamine the important question of who gets the credit. Additional issues have surfaced including why certain eponyms tend to stick in the literature and others disappear, as well as the important realization that lengthy modern descriptions may require name eponyms for simplification. Eponyms can be confusing as to whether they refer to a disease or a syndrome and this confusion can impact the diagnosis and treatment of patients. There is an inevitable evolution of certain eponyms as our understanding of entities expands. This paper provides an overview of neurological eponyms with the explanation of the potential reasons why names were associated with neurological diseases. These included first case reports, relating isolated cases, years of observation, defining neuroanatomy, physician sufferer, new physical examination maneuvers, academic climate, the advent of a new procedure, fame, and competition amongst investigators. Important issues have surfaced regarding sharing credit amongst investigators, name priority, crediting the wrong investigator, and lack of a defined system to award credit. Since eponym use is based on a peer dependent system, each neurologist must make a more critical appraisal of who gets the credit and understand the differences between diseases and syndromes in order to better preserve neurological history.
Natalya P. Anoshkina
Full Text Available The paper is devoted to the problem of credit loss management topical for modern Russian science and banking practice. The bank’s lending activity is an integral and the most profitable sphere of banking activity. Banks need to take credit risks inherent in their core business and minimize their impact through the establishment of advanced risk management systems. The study, reflected in the present paper, has been conducted in order to determine approaches to the organization of credit loss management in banking. Analysis of the system of management of credit risks and credit losses has shown that they have different scope, object and purpose. In this connection, there is an objective necessity to create a special subsystem for the management of credit losses in banks. On the basis of common bank approaches to credit risk management, the paper develops models of credit loss management: a multi-level management model in the area of ‘operational-tactical-strategic management’ and a functional management model in the area of ‘technology-execution-control’. These models are important for the modern theory and practice of banking, as they allow the bank to manage credit losses on the entire time horizon of the management process, thus opening a wide range of opportunities for the creation and implementation of large-scale programs, as well as specific techniques. This study allows drawing a conclusion about the need to consider control credit losses as a strictly regulated multi-level process, in which each division is assigned with specific objectives, tasks, functions, formally enshrined in the relevant lists, job descriptions and other legal documents.
Félix Arbinaga Ibarzábal
Full Text Available The characteristics of physical and social anxiety and the physical self description in 55 male bodybuilders who use anabolic steroids and 95 non users are determined, the consumption is being valued through the Fat Free Body Mass (Kouri, Pope and Katz, 1995. On the SPAS scale (Hart, Leary and Rejeski, 1989 the consumers give higher values to the non consumers in the total score (t=2,721 p=0,008 and in the “expectation towards a negative assessment” (t=2,710 p=0,008 and very slight differences in the “comfort with their physical presence” (t=1,939 p=0,054. In self description, valued through the PSDQ (Marsh and Sutherland, 1994, it is shown that non users get a higher score in self description (t=2,431 p=0,016. Nevertheless, there are no differences given in the global scores in self description of the physical form (t=1,542 p=0,125. Inverse and significant correlations are observed between the two scales; with the dimension “physical self description” (r=-0,583 p=0,000 and with “self description of the physical form” (r=-0,337 p=0,000.
Münnix, Michael C
Financial markets are becoming increasingly complex. The financial crisis of 2008 to 2009 has demonstrated that an improved understanding of the mechanisms embedded in the market is a key requirement for the estimation of financial risk. Recently, concepts of theoretical physics, in particular concepts of complex systems, have proven to be very useful in this regard. Michael C. Münnix analyses the statistical dependencies in financial markets and develops mathematical models using concepts and methods from physics. The author focuses on aspects that played a key role in the emergence of the recent financial crisis: estimation of credit risk, dynamics of statistical dependencies, and correlations on small time-scales. He visualizes the findings for various large-scale empirical studies of market data. The results give novel insights into the mechanisms of financial markets and allow conclusions on how to reduce financial risk significantly.
Credit system is an integrated architecture consisted of financial information, credit rating, credit risk management, receivables and credit insurance systems, credit derivative markets and credit guarantee programs. The main purpose of the credit system is to provide the functioning of all credit channels and to make it easy to access of credit sources demanded by all of real and legal persons in any economic system. Credit guarantee program, the one of prominent elements of the credit syst...
... Information Collection: Comment Request; Final Endorsement of Credit Instrument AGENCY: Office of the... Proposal: Final Endorsement of Credit Instrument. OMB Control Number, if applicable: 2502-0016. Description... Endorsement of Credit Instrument'' form is used to request to request final endorsement by HUD of the credit...
Andersson, Jenny; Edlund, O.; Hermann, J.; Johansson, Lise-Lotte
The INTRA Manual consists of two volumes. Volume I of the manual is a thorough description of the code INTRA, the Physical modelling of INTRA and the ruling numerical methods and volume II, the User's Manual is an input description. This document, the Physical modelling of INTRA, contains code characteristics, integration methods and applications
Andersson, Jenny; Edlund, O; Hermann, J; Johansson, Lise-Lotte
The INTRA Manual consists of two volumes. Volume I of the manual is a thorough description of the code INTRA, the Physical modelling of INTRA and the ruling numerical methods and volume II, the User`s Manual is an input description. This document, the Physical modelling of INTRA, contains code characteristics, integration methods and applications
Ferguson - Hessler, M.G.M.; Jong, de T.
This study aims at giving a systematic description of the cognitive activities involved in teaching physics. Such a description of instruction in physics requires a basis in two models, that is, the cognitive activities involved in learning physics and the knowledge base that is the foundation of
Santamarina, A.; Toubon, H.; Trakas, C.
The technical meeting organized by the SFEN on the burn-up credit (CBU) physics, took place the 23 november 1999 at Cadarache. the first presentation dealt with the economic interest and the neutronic problems of the CBU. Then two papers presented how taking into account the CBU in the industry in matter of transport, storage in pool, reprocessing and criticality calculation (MCNP4/Apollo2-F benchmark). An experimental method for the reactivity measurement through oscillations in the Minerve reactor, has been presented with an analysis of the possible errors. The future research program OSMOSE, taking into account the minor actinides in the CBU, was also developed. The last paper presented the national and international research programs in the CBU domain, in particular experiments realized in CEA/Valduc and the OECD Burn-up Criticality Benchmark Group activities. (A.L.B.)
... Information Collection; Comment Request: Tax Credit Assistance Program (TCAP) AGENCY: Office of the Chief... information: Title of Proposed: Tax Credit Assistance Program (TCAP). OMB Approval Number: 2506-0181. Form Numbers: None. Description of the need for the information and proposed use: Tax Credit Assistance Program...
Millar, A Lynn; Lasheway, Philip A; Eaton, Wendy; Christensen, Frances
A retrospective, descriptive study of clients with shoulder dysfunction referred to physical therapy. To (1) describe the clinical and functional outcomes of clients with shoulder dysfunction following outpatient physical therapy, and (2) to compare the outcomes by type of shoulder dysfunction. Although individuals with shoulder dysfunction are commonly referred to physical therapy few large descriptive studies regarding outcomes following physical therapy are available. Data for 878 clients (468 female, 410 male) were retrieved and analyzed. This database was developed between 1997 and 2000 and included 4 outpatient facilities from 1 healthcare system in the southwest corner of Michigan. Clients were classified by type of shoulder dysfunction, and standardized tests were performed upon admittance and discharge to physical therapy. Descriptive and inferential statistics were calculated for all data. Of all clients, 55.1% had shoulder impingement, while 18.3% had postoperative repair, 8.9% had a frozen shoulder, 7.6% had a rotator cuff tear, 3.0% had shoulder instability, 2.1% were post fracture, and the remaining 4.9% had miscellaneous diagnoses. The average (+/-SD) age of the patients was 53.6 +/- 16.4 years, with an average (+/-SD) number of treatment sessions of 13.7 +/- 11.0. All groups showed significant changes following physical therapy intervention. Clients with diverse types of shoulder dysfunction demonstrated improvement in both clinical and functional measures at the conclusion of physical therapy, although it is not possible to determine whether these changes were due to the interventions or due to time. The type of shoulder dysfunction appears to affect the prognosis, thus expected outcomes should be based upon initial diagnosis and specific measures.
Parks, C.V.; Dehart, M.D.; Wagner, J.C.
Since the mid-1980s, a significant number of studies have been directed at understanding the phenomena and parameters important to implementation of burnup credit in out-of-reactor applications involving pressurized-water- reactor (PWR) spent fuel. The efforts directed at burnup credit involving boiling-water-reactor (BWR) spent fuel have been more limited. This paper reviews the knowledge and experience gained from work performed in the United States and other countries in the study of burnup credit. Relevant physics and analysis phenomenon are identified, and an assessment of their importance to burnup credit implementation for transport and dry cask storage is given. (author)
Kurt Burneo Farfan
Full Text Available The aim of this paper is to introduce the importance of the banking credit risk, the main elements that conform it and the main alternatives that are offered to access to a loan as well as a description of its measurement and management in the sector. There will be a general explanation of credit risk and the main parties involved in it. As the topic is developed it is going to be analyzed the lending process carried out by the banks as well as the quantitative and qualitative elements taken into account when taking a credit decision (The 5C’s of credit, credit scoring and models for quantification of losses for instance. Another thing to considerate is that Credit risk arises whenever a borrower is expecting to use future cash flows to pay a current debt. Also, the investors have the access for the information of a client and they are compensated for assuming credit risk by way of interest payments from the borrower or issuer of a debt obligation and the credit risk is a useful tool for the finance management. The Enterprise risk management in Peru changed in 2015 because the local regulator is in process to review the norm, including some aspects of corporate governance; these changes are not included in this research.
Adrian Cantemir CALIN; Oana Cristina POPOVICI
Credit risk governs all financial transactions and it is defined as the risk of suffering a loss due to certain shifts in the credit quality of a counterpart. Credit risk literature gravitates around two main modeling approaches: the structural approach and the reduced form approach. In addition to these perspectives, credit risk assessment has been conducted through a series of techniques such as credit scoring models, which form the traditional approach. This paper examines the evolution of...
An analysis of the models proposed for the description of the plasma sheath dynamics in a coaxial system (of the same type as that operating at the Bucharest Institute of Physics) is presented. A particular attention is paid to the physical structure of the accelerated plasma. It has been shown that a self-consistent model could be derived from a phenomenological description of the sheath structure. The physical models presented so far in the literature have been classified into three groups: the hydrodynamic models, the plasma sheet models and the shock wave models. Each of these models is briefly described. The simplifying assumptions used in the construction of these models have been pointed out. The final conclusion has been that, under these assumptions, none of these models taken separately could completely and correctly describe the dynamical state of the plasma sheath. (author)
Parks, C.V.; Wagner, J.C.
In the United States, burnup credit has been used in the criticality safety evaluation for storage pools at pressurized water reactors (PWRs) and considerable work has been performed to lay the foundation for use of burnup credit in dry storage and transport cask applications and permanent disposal applications. Many of the technical issues related to the basic physics phenomena and parameters of importance are similar in each of these applications. However, the nuclear fuel cycle in the United States has never been fully integrated and the implementation of burnup credit to each of these applications is dependent somewhat on the specific safety bases developed over the history of each operational area. This paper will briefly review the implementation status of burnup credit for each application area and explore some of the remaining issues associated with effective implementation of burnup credit. (author)
Full Text Available The aim of this study is on understanding the international regulations issued by Basel I, Basel II and Basel III to best supervise and manage credit risk management policies. Part of paper will focus on the description and impacts of the regulations and the pivotal importance they play in providing a sound banking system. Credit risk represents another important element that will be analysed considering that it lays the foundation during the loan consideration and approval process. The paper will also explain in detail procedures and responsibilities shared along the process of loan acceptance by a banker. To sum up, the overall process from application to loan approval or denial will be explained pointing out the implications that are faced along the way
Minithesis title this the role of management credit union canaga antutn in the community empowerment of education sector in the village menyumbung district hulu sungai. Public problem is how role of management credit union canaga antutn in the community empowerment of education sector ? With sub problem how form the role management and aktivities empowerment of education sector be socialization ?. Purpose the minithesis to description how role management credit union canaga antutn in the comm...
Koolen, Corina; Wubben, S.; van Cranenburgh, Andreas
Chick-lit novels have often been researched in literary theory, but never on the same plane as literary novels. Claims on the relative importance of physicality in chick lit are not based on an actual comparison. We therefore investigate the descriptions of characters’ physical appearance in a
This paper begins by outlining the structure of the nuclear industry in the United Kingdom. It then sets out the methodology of burnup credit, and provides a brief discussion of the validation and robustness of the calculational route. This leads to a description of both the current and intended applications of burnup credit in the United Kingdom. (author)
Noorma Fitriana M. Zain
Full Text Available This case study is focused on teaching descriptive texts by using realia. The writer took the 8th grade students of SMPLB Negeri Ungaran as the subjects of the study. The aim of this research is to know the implementation of teaching descriptive texts that cover parts, qualities, and characteristics of the objects. This study was carried out around four meetings. In each meeting, the researcher observed the situation of the class and the setudents’ activities in that classroom. The data collection method used in the research was observation, interview, and documentation. In implementating the research, the researcher found several problems and difficulties in teaching learning processes. One of them is that, the teaching physically disabled students are not easy. It has to be slowly because the students’ ability in writing the lesson is limited. The other problem comes from the teacher him/herself that never uses media or tools to teach physically disabled students. It is a matter of fact that teaching physically disabled students needs media to make them easily understand the learning materials. One of the media that could be used is realia. From this research it is expected that the problems could be solved and a new paradigm in teaching descriptive texts for disabled students could be considered.
This paper examined the perceptions of market women on access to micro credit and economic empowerment in Yenagoa, Bayelsa State. The study adopted the descriptive research design and a total of 180 market women were randomly selected from Swali, Opolo, and Tombia markets in Yenagoa. The study adopted the ...
The application of relativistic continuum physics to the description of the nuclear fireball evolution from the start of expansion to the breaking is discussed. The basic formalism and basic assumptions of relativistic hydrodynamics and thermodynamics are analyzed in detail. The four basic assumptions are not valid in the case of nuclear fireball produced in heavy ion collisions, but thermodynamics can be extended in different ways to incorporate anisotropy, fluctuations, gradients and the lack of the local equilibrium. The extended continuum formalism is applicable to the description of the nuclear fireball dynamics, including the nuclear - quark matter phase transition. (D.Gy.)
Full Text Available Purpose: to study age and gender features of schoolchildren’s attitude to their physical “self”. Material: in the research pupils of 5-11 forms (n=365 participated. They were: 177 boys and 188 girls. Individual profile of personality’s physical “self” was studied. For this purpose test-questionnaire was used and self description of physical condition. Results: it was found that self assessment of schoolchildren’s physical condition was too high. It was in average 80-85% from maximal indicator. It was also found that by all indicators sportsmen had higher self-esteem. For development of boys and girls’ individual abilities and bents, overcoming of gender-role stereotypes it is necessary to have knowledge about sex and gender specificities of schoolchildren’s physical development as well as about their influence on self esteem and formation of physical qualities. Conclusions: we showed that it was possible to correct physical education curriculum and its implementation in educational process.
... DEPARTMENT OF THE INTERIOR Bureau of Indian Affairs Information Collection for Tax Credit Bonds... considered for an allocation. No third party notification or public disclosure burden is associated with this...: Tax Credit Bonds for Bureau of Indian Affairs-Funded Schools. Brief Description of Collection...
Lydiatt, I. [KeySpan Energy Canada, Calgary, AB (Canada)
This Power Point presentation presented the basics of a credit policy with reference to corporate objectives, governance, credit definitions, subjective/objective elements, quantification of full risk, management, monitoring, reporting and gate-keeping processes. Options for a credit policy were described as being approval authority grids, confidentiality issues, credit scoring, corporate risk levels, follow-up collection calling, and procedures on unapproved exposures. Recommendations for setting risk and credit limits were also presented with a note emphasizing that in the past 6 months credit evaluation processes have had to deal with the media risk, a new risk that has not been seen before. This risk can be addressed by careful monitoring of stock prices. The paper also presented recommendations for what to look for as indicators and how to deal with risk in volatile price periods. Credit tools for volatile times were described. 1 tab.
This Power Point presentation presented the basics of a credit policy with reference to corporate objectives, governance, credit definitions, subjective/objective elements, quantification of full risk, management, monitoring, reporting and gate-keeping processes. Options for a credit policy were described as being approval authority grids, confidentiality issues, credit scoring, corporate risk levels, follow-up collection calling, and procedures on unapproved exposures. Recommendations for setting risk and credit limits were also presented with a note emphasizing that in the past 6 months credit evaluation processes have had to deal with the media risk, a new risk that has not been seen before. This risk can be addressed by careful monitoring of stock prices. The paper also presented recommendations for what to look for as indicators and how to deal with risk in volatile price periods. Credit tools for volatile times were described. 1 tab
Friewald, Nils; Wagner, Christian; Zechner, Josef
We explore the link between a firm's stock returns and credit risk using a simple insight from structural models following Merton (1974): risk premia on equity and credit instruments are related because all claims on assets must earn the same compensation per unit of risk. Consistent with theory......, we find that firms' stock returns increase with credit risk premia estimated from CDS spreads. Credit risk premia contain information not captured by physical or risk-neutral default probabilities alone. This sheds new light on the “distress puzzle”—the lack of a positive relation between equity...
Friewald, Niels; Wagner, Christian; Zechner, Josef
We explore the link between a firm's stock returns and its credit risk using a simple insight from structural models following Merton (1974): risk premia on equity and credit instruments are related because all claims on assets must earn the same compensation per unit of risk. Consistent...... with theory, we find that firms' stock returns increase with credit risk premia estimated from CDS spreads. Credit risk premia contain information not captured by physical or by risk-neutral default probabilities alone. This sheds new light on the "distress puzzle", i.e. the lack of a positive relation...
Clemente García Navarro
Full Text Available The research objective was to analyze effects of agricultural credit policy in Nicaragua (1990-2012. Structural Adjustment Programs deteriorated production for domestic consumption, in the hands of small and medium production. The research is descriptive, comprehensive and interpretive. Small and medium producers had no ability to sustain; the sector suffered unprotected by overvaluation of Córdoba; internally imported products sold at artificially low prices. It concluded that credit constraints affecting small and medium producers, including trade, by the disappearance of long-term financing that caused capitalization.
Full Text Available Access to credit by smallholder farmers in South Africa has been empirically observed to be characterised by a variety constraints. This paper examines the demographic, financial and economic characteristics of smallholder farmers in order to gain a better understanding of why smallholder farmers are excluded from formal credit markets. The paper uses survey data collected from 362 smallholder farmers randomly selected from Mpumalanga and North West Provinces of South Africa. Using descriptive analysis, the paper observes that smallholder farmers have low annual turnover, low demand for credit and often with a family culture not to borrow. The paper concludes that smallholder farmers in South Africa are still financially excluded, particularly from the formal banking systems. Results of this paper demonstrate a need for a review of financial policies in favour of increasing the supply of financial services, particularly credit to smallholder farmers if South Africa is to achieve its Millenium Development Goals of employment creation and poverty alleviation.
Sandia has examined the matter of burnup credit from the perspective of physics, logistics, risk, and economics. A limited survey of the nuclear industry has been conducted to get a feeling for the actual application of burnup credit. Based on this survey, it can be concluded that the suppliers of spent fuel storage and transport casks are in general agreement that burnup credit offers the potential for improvements in cask efficiency without increasing the risk of accidental criticality. The actual improvement is design-specific but limited applications have demonstrated that capacity increases in the neighborhood of 20 percent are not unrealistic. A number of these vendors acknowledge that burnup credit has not been reduced to practice in cask applications and suggest that operational considerations may be more important to regulatory acceptance than to the physics. Nevertheless, the importance of burnup credit to the nuclear industry as a cask design and analysis tool has been confirmed by this survey
Santamarina, A [CEA/Cadarache, Departement d' Etudes des Reacteurs, DER/SPRC, 13 - Saint-Paul-lez-Durance (France); Toubon, H [Cogema, 78 - Velizy Villacoublay (France); Trakas, C [FRAMATOME, 92 - Paris La Defense (France); and others
The technical meeting organized by the SFEN on the burn-up credit (CBU) physics, took place the 23 november 1999 at Cadarache. the first presentation dealt with the economic interest and the neutronic problems of the CBU. Then two papers presented how taking into account the CBU in the industry in matter of transport, storage in pool, reprocessing and criticality calculation (MCNP4/Apollo2-F benchmark). An experimental method for the reactivity measurement through oscillations in the Minerve reactor, has been presented with an analysis of the possible errors. The future research program OSMOSE, taking into account the minor actinides in the CBU, was also developed. The last paper presented the national and international research programs in the CBU domain, in particular experiments realized in CEA/Valduc and the OECD Burn-up Criticality Benchmark Group activities. (A.L.B.)
Emission trading is a good concept and approach to tackle global warming. However, what ''currency'' or ''credit'' should be used in the trading has remained a debatable topic. This paper proposed an ''Energy Credit'' concept as an alternative to the ''CO 2 credit'' that is currently in place. From the thermodynamic point of view, the global warming problem is an ''energy balance'' problem. The energy credit concept is thought to be more thermodynamically correct and tackles the core of the global warming problem more directly. The Energy credit concept proposed can be defined as: the credit to offset the extra energy trapped/absorbed in the earth (and its atmosphere) due to the extra anthropogenic emission (or other activities) by a country or company. A couple of examples are given in the paper to demonstrate the concept of the Energy credit and its advantages over the CO 2 credit concept. (author)
This study examined borrowing and repayment of credit among livestock farmers in Cross River State, Nigeria. Data for the study was obtained from the Bank of Agriculture (BOA), Calabar. Descriptive statistics such as percentage count, mean and tables were employed in the analysis. It was discovered that BOA in ...
Edward Wong Sek Khin
Full Text Available This study examined the relationship between control management and family business performance in the Malaysian context. It has two objectives, the first being to determine the relationship of organizational credit control policy and procedures, employee development and motivation, and intelligence collection systems to subsequent collection reports in Malaysian family SMEs. The second objective is to investigate the moderating effect of participation in decision-making and work effort towards innovation and business performance. This is a descriptive study involving 90 senior executives employed in 90 Malaysian family SMEs/firms. A correlation analysis from this study confirmed previous researchers' observations that high-level organizational commitment to credit control management is linked to improvements in business performance. The results suggest that three components - credit policy, employee development, and intelligence collection systems - are the most important predictors for the efficiency and effectiveness of credit control management.
Purpose: to study gender peculiarities and distinctions in physical condition’s self-description of schoolchildren. Material: in the research schoolchildren of 5-11 form (boys -- n=177, girls- n=188) participated. Test-questionnaire “Self description of physical condition” was used. Results: it was found that correlations of indicators of all age categories have gender distinctions. It was determined that boys associate heir health with own self-assessment and physical qualities: coordination...
Full Text Available With the rapid development of rural micro-credit, whether the qagriculture, rural areas and farmersq problems have been effectively solved, whether the credit risk has been effectively controlled, these have become the focus of our attention to the rural economic environment. The main content of this paper contains four aspects: the classification and characteristics of credit risk, the problems and factors of credit risk, the model and evaluation of credit risk, the countermeasures and suggestions of credit risk. This paper reviews the research of credit risk management for rural credit cooperatives from the above four aspects, and makes a brief summary.
Eastern Michigan Univ., Ypsilanti. National Inst. for Consumer Education.
Summaries are provided of 37 projects that address the credit education and information needs of consumers. The projects are supported by AT&T Universal Card Services Corp. through a fund managed by the National Coalition for Consumer Education. Each summary provides a project description, grant recipient, and address/telephone number. The…
Full Text Available Purpose: The study herein develops and tests a credit scoring model which can help financial institutions in assessing credit requests. Design/methodology/approach: The empirical study has the objective of answering two questions: (1 Which ratios better discriminate the companies based on their being solvent or insolvent? and (2 What is the relative importance of these ratios? To do this, several statistical techniques with a multifactorial focus have been used (Multivariate Analysis of Variance, Linear Discriminant Analysis, Logit and Probit Models. Several samples of companies have been used in order to obtain and to test the model. Findings: Through the application of several statistical techniques, the credit scoring model has been proved to be effective in discriminating between good and bad creditors. Research limitations: This study focuses on manufacturing, commercial and services companies of all sizes in Spain; Therefore, the conclusions may differ for other geographical locations. Practical implications: Because credit is one of the main drivers of growth, a solid credit scoring model can help financial institutions assessing to whom to grant credit and to whom not to grant credit. Social implications: Because of the growing importance of credit for our society and the fear of granting it due to the latest financial turmoil, a solid credit scoring model can strengthen the trust toward the financial institutions assessment’s. Originality/value: There is already a stream of literature related to credit scoring. However, this paper focuses on Spanish firms and proves the results of our model based on real data. The application of the model to detect the probability of default in loans is original.
Koulikov, V.I.; Makarchuk, T.F.; Tikhonov, N.S.
The article concerns implementation of burnup credit in spent fuel storage and transportation. Some of the problems with increased enrichment fuel can be resolved by use of modified transport methodology. Such as shipping in gas-filled casks only, reduced number of assemblies in casks, etc. However, the use of modified schemes of transportation results in essential financial losses. An actinide-only burnup credit is taken into account in most part of criticality calculations, and a parameter limiting loading of spent fuel in the cask or the repository is the avenge value of burnup on an assembly. The main method of burnup depth definition is its defect measurement. A short description of devices for measurement as well as some technical results of suing burnup credit approach in storage and transport are given. (author)
Full Text Available Due to the recent financial crisis and European debt crisis, credit risk evaluation has become an increasingly important issue for financial institutions. Reliable credit scoring models are crucial for commercial banks to evaluate the financial performance of clients and have been widely studied in the fields of statistics and machine learning. In this paper a novel fuzzy support vector machine (SVM credit scoring model is proposed for credit risk analysis, in which fuzzy membership is adopted to indicate different contribution of each input point to the learning of SVM classification hyperplane. Considering the methodological consistency, support vector data description (SVDD is introduced to construct the fuzzy membership function and to reduce the effect of outliers and noises. The SVDD-based fuzzy SVM model is tested against the traditional fuzzy SVM on two real-world datasets and the research results confirm the effectiveness of the presented method.
Full Text Available The study sought to analyse the factors that lead to rising credit risk in the Zimbabwean banking sector. The objective was to ascertain the impact of macroeconomic, industry and bank specific factors on rising credit risk in in Zimbabwe. The study aimed at contributing to credit risk management literature by providing evidence Sub Saharan context. Being anchored on the positivist quantitative research approach, a survey was carried out gather the data that were analysed using descriptive, correlation and regression analyses. The results revealed that the most significant factors leading to credit risk in the Zimbabwean banking sector were macroeconomic and bank specific factors. The industry factors did not show a significant influence on the rising credit risk. The research findings of this study will a valuable addition to the existing knowledge and provide a platform for further research on how the credit risk problems can be dealt with. While credit risk is known as one of the risks inherent to any banking institutions, the alarming levels of credit risk in the Zimbabwe banking sector has motivated this current study to critically analyse the factors that have led to the high credit risk levels.
Full Text Available Purpose of the article: Purpose of the article is to identify credit monitoring as a keystone of credit risk management in banks. CRM is widely discussed in scientific literature and in reports of institutions undertaking credit risk or supervisory bodies. However majority of such investigations are based on implementation of numerous quantitative or qualitative methods used for credit risk assessment before granting a loan or for credit portfolio risk management. There is a lack of information or investigations made on estimation of the need of credit monitoring in credit risk management process. Scientific aim: Scientific aim is to structure the early warning signs that reflect the condition of credits. Methodology/methods: The paper is based on analysis and resumption of various scientific and professional articles related to organization of credit process in banks. It combines results of assessments of credit monitoring importance in credit risk management process made by theoretical studies as well as investigation of experts. Findings: Finding of the article is presentation of credit monitoring tools that should be applied for corporate (and individual clients via modification of original credit agreement. Conclusions: (limits, implications etc Conclusion of the article is that credit monitoring is a keystone in credit risk management process. The purpose of credit monitoring is to detect in time possible worsening of the loan and to react (make changes in loan agreement. The simplest tool for credit monitoring is to identify early warning signs in time that could be assorted into four groups: EWS of business environment; EWS with regard to management, EWS regarding collateral, EWS in financial analysis. Limitation of investigation is impossibility of evaluation of importance of monitoring process in practice except investigation of experts (employees directly responsible for credit business.
purposes of the National Credit Act; what the definition of a credit guarantee set out ...... Scholtz et al National Credit Act in para 8.2.4; Scott et al Law of Commerce ..... Eitelberg E "Autonomy of Documentary Credit Undertakings in South African.
Everhart, Brett; Kernodle, Michael; Ballard, Kesley; McKey, Cathy; Eason, Billy; Weeks, Megan
The purpose of this study was to examine differences in physical activity patterns of high school graduates in Texas who completed physical education class credit during high school and those who did not but who were varsity athletes. A questionnaire was designed and tested for reliability prior to being administered to 201 college students. Analysis indicated that participants who completed high school physical education class credit do not currently participate in regular physical activity as much as those who were not required to complete such credit. Conversely, athletes who did not participate in physical education reported currently engaging in more cardiovascular exercise and team sports than the physical education students during high school.
Tang, Sai; Guan, Zhengfei; Jin, Songqing
Credit markets are an essential economic institution. In developing countries, particularly in countries undergoing rapid social and economic transition, it is important to identify emerging credit demand and institute credit supply in a timely manner to facilitate economic transformation. This research focuses on the evolving rural credit market in China, where borrowing from the social network has been common but the recent economic transition has made this informal credit market inadequate...
Stark Education Partnership, 2015
This study, with funding from the Jennings Foundation, sought to answer the following broad research question: Do facilitated online dual credit courses result in deep learning? The answer to this question is key to addressing barriers many students face in bridging from high school to college. This report includes a descriptive case study that…
Full Text Available Description of the modern crisis state of health and physical preparedness of graduating students of higher institutes is resulted. Most graduating students can not high-quality work on a production. Not efficiency of the existent system of physical education is rotined in the institutes of higher. The terms of intensification of educational process are considered. Efficiency and forming actuality is investigational for the students of motivation to the select kind of sport (field hockey. The stages of introduction of innovative approaches, new credit-module technologies in the river-bed of the Bologna system are presented.
Congressional Budget Office
In 1975, the first refundable tax credit—the earned income tax credit (EITC)—took effect. Since then, the number and cost of refundable tax credits—credits that can result in net payments from the government—have grown considerably. Those credits will cost $149 billion in 2013, CBO estimates, mostly for the EITC and the child tax credit.
Chanzy, Y.; Guillou, E.
Facing a continuous increase in the fuel enrichments, COGEMA and TRANSNUCLEAIRE have implemented step by step a burnup credit programme to improve the capacity of their equipment without major physical modification. Many authorizations have been granted by the French competent authority in wet storage, reprocessing and transport since 1981. As concerns transport, numerous authorizations have been validated by foreign competent authorities. Up to now, those authorizations are restricted to PWR Fuel type assemblies made of enriched uranium. The characterization of the irradiated fuel and the reactivity of the systems are evaluated by calculations performed with well qualified French codes developed by the CEA (French Atomic Energy Commission): CESAR as a depletion code and APPOLO-MORET as a criticality code. The authorizations are based on the assurance that the burnup considered is met on the least irradiated part of the fuel assemblies. Besides, the most reactive configuration is calculated and the burnup credit is restricted to major actinides only. This conservative approach allows not to take credit for any axial profile. On the operational side, the procedures have been reevaluated to avoid misloadings and a burnup verification is made before transport, storage and reprocessing. Depending on the level of burnup credit, it consists of a qualitative (go/no-go) verification or of a quantitative measurement. Thus the use of burnup credit is now a common practice in France and Germany and new improvements are still in progress: extended qualifications of the codes are made to enable the use of six selected fission products in the criticality evaluations. (author)
Full Text Available Purpose: to study gender peculiarities and distinctions in physical condition’s self-description of schoolchildren. Material: in the research schoolchildren of 5-11 form (boys -- n=177, girls- n=188 participated. Test-questionnaire “Self description of physical condition” was used. Results: it was found that correlations of indicators of all age categories have gender distinctions. It was determined that boys associate heir health with own self-assessment and physical qualities: coordination of movements, flexibility. Girls connect their health with physical functioning and own physical abilities. Boys connect physical coordination of movements with strength. Girls connect it with appearance. Besides, it was found that boys connect their self-assessment directly with their strength and physical activity. For girls these indicators are not very important. Conclusions: approaches to solution of gender stereotypes and imbalance in adolescents’ physical development are recommended. It is purposeful to work out conception of gender approach to physical education. It would permit: to facilitate development of individual bents and talents of pupils of different sex; to overcome sex-role stereotypes; more effective formation of physical culture values.
Joseph M. Berning
Full Text Available This study addressed the role of chronic exercise to enhance physical self-description as measured by self-estimated percent body fat. Accuracy of physical self-description was determined in normal-weight, regularly exercising and non-exercising males with similar body mass index (BMI’s and females with similar BMI’s (n=42 males and 45 females of which 23 males and 23 females met criteria to be considered chronic exercisers. Statistical analyses were conducted to determine the degree of agreement between self-estimated percent body fat and actual laboratory measurements (hydrostatic weighing. Three statistical techniques were employed: Pearson correlation coefficients, Bland and Altman plots, and regression analysis. Agreement between measured and self-estimated percent body fat was superior for males and females who exercised chronically, compared to non-exercisers. The clinical implications are as follows. Satisfaction with one’s body can be influenced by several factors, including self-perceived body composition. Dissatisfaction can contribute to maladaptive and destructive weight management behaviors. The present study suggests that regular exercise provides a basis for more positive weight management behaviors by enhancing the accuracy of self-assessed body composition.
... Credits 38, LLC, WNC Tax Credits 39, LLC, WNC Housing Tax Credits Manager, LLC and WNC & Associates, Inc... collectively, the ``Funds''), WNC Housing Tax Credits Manager, LLC (the ``Manager'') and WNC & Associates, Inc... credit under the Internal Revenue Code of 1986, as amended. The Manager is a California limited liability...
The credit derivative market was established at the beginning of the 1990s since the emergence of credit derivatives fits the rapid development of the whole derivatives market. However, compare to other derivative market, this market is still small and incomplete. As with other derivatives, credit derivatives can be used to either take more risk or hedge it, hence various credit derivatives instruments are accepted and widely used by market participants such as banks, insurance companies, etc...
Henke, Sabine; Burghof, Hans-Peter; Rudolph, Bernd
Banks increasingly recognize the need to measure and manage the credit risk of their loans on a portfolio basis. We address the subportfolio "middle market". Due to their specific lending policy for this market segment it is an important task for banks to systematically identify regional and industrial credit concentrations and reduce the detected concentrations through diversification. In recent years, the development of markets for credit securitization and credit derivatives has provided n...
Full Text Available Nowadays it is essential to modernize credit relations in the conditions of global economy transformations. This is due to the influence of integration processes on credit relations and transformation of the risks inherent in the credit field. The purpose of this article is to develop measures that help to improve the efficiency of interaction of credit relations’ participants. Modernization of credit relations is based on the interaction of its main and indirect subjects who belong to the subsystems of loans granting, deposits attraction and provision of related services. Its goal is to pass from extensive to intensive model of interaction between the subjects of credit relations. Components of the credit relations modernization are the following: institutional modernization, which is based on the interaction of credit relations’ subjects, and ensures the development of competition in all credit market’s segments, the creation of its corresponding infrastructure, qualitative change in the approaches of regulation and supervision; technological modernization, which involves the formation of joint products on the credit market and the formation of an integrated informational and analytical system. In the result of the credit relations’ modernization it is expected to achieve synergies between the subjects of credit relations, that will lead to changes in the business architecture of the financial market.
Flem's economic reformation especially his replacement of credit business by cash business in Varner's Store in "The Hamlet" marked the social transition from a more traditional, closer and bonded community to a rather detached, rational and mechanical commercial society. The description in "The Hamlet" to a certain extent…
Author: Anup G.C. Year: 2013 Subject of thesis: Credit Card Security Number of pages: 36+2 Credit Card is a widely used electronic chip for easy transactions. The main purpose of the report was to show the security measures of transaction by credit cards. The purpose was to give information about credit cards and how they were introduced. The thesis reportcontained the types of card theft with examples and sited the various protocols used for online ...
... Credits 40, LLC, WNC Tax Credits 41, LLC, WNC Housing Tax Credits Manager 2, LLC, WNC National Partners... (``Fund 41'') (each a ``Fund,'' and collectively, the ``Funds''), WNC Housing Tax Credits Manager 2, LLC (the ``Manager''), WNC National Partners, LLC (``WNC National Partners'') and WNC & Associates, Inc...
Full Text Available In practice, a firm usually receives trade credit financing from its supplier on the purchase of inventory. Similarly, in order to meet competition and generate credit sales over and above cash sales, the firm also gives credit period to their customers. However, the decision of granting credit period may have a disintegrating effect on cash sales apart from generating new credit sales because some of the cash customers may switch to credit purchase. In addition, despite of the best credit granting policies and collection practices, the firm may incurs some amount of bad debt losses because a certain fraction of buyers will undoubtedly be unable to pay off their debt obligations and become bad debt loss to the firm. In this paper, using discounted cash flow (DCF approach, a mathematical model is developed to jointly determine optimal inventory and credit policies under two levels of trade credit financing when demand and bad-debt losses are dependent on credit period. The objective of the model is to maximize the present value of firm’s net profit per unit time by jointly optimizing the replenishment interval and date-terms credit period. Numerical examples and sensitivity analysis are presented to illustrate the effectiveness of the proposed model, and the results are discussed.
Barslund, Mikkel Christoffer; Tarp, Finn
This paper uses a survey of 932 rural households to uncover how the rural credit market operates in four provinces of Vietnam. Households obtain credit through formal and informal lenders, but formal loans are almost entirely for production and asset accumulation. Interest rates fell from 1997...... to 2002, reflecting increased market integration; but the determinants of formal and informal credit demand are distinct. Credit rationing depends on education and credit history, but we find no evidence of a bias against women. Regional differences are striking, and a ‘one size fits all’ approach...... to credit policy is clearly inappropriate....
Nguyen Anh Hoang
Full Text Available This study is an attempt to investigate the motivation behind the decision to participate in the credit market of SMEs from perspectives of behavioral finance and social capital theories. In addi- tion, the study also examines the effect of behavioral finance and social capital factors on the credit source selection among SMEs. This study’s design strategy involves conducting questionnaire sur- veys to SMEs owners and statistical techniques to analyze the determinants of credit participation and credit source selection of borrowers. The findings showed that personal traits of SMEs owners/ managers in terms of behavioral finance factors such as debt and risk attitudes, present biased and overconfidence and firms networking also have impacts on the firms’ credit participation and credit source selection. The research is one of the few studies that consider the influence of behavioral finance factors on firms financing decision. Furthermore, our result also contributes to explain the common use of informal credit market in developing countries.
Zamore, Stephen; Ohene Djan, Kwame; Alon, Ilan
This article provides a comprehensive review of scholarly research on credit risk measurement during the last 57 years applying bibliometric citation analysis and elaborates an agenda for future research. The bibliography is compiled using the Institute for Scientific Information (ISI) Web...... of Science (WOS) database and includes all articles with citations over the period 1960–2016. Specifically, the review is carried out using 1695 articles across 72 countries published in 442 journals by 2928 authors. The findings suggest that credit risk research is multifaceted and can be classified...... into six streams: (1) defaultable security pricing, (2) default intensity modeling, (3) comparative analysis of credit models, (4) comparative analysis of credit markets, (5) credit default swap (CDS) pricing, and (6) loan loss provisions. The article contributes through synthesizing and identifying...
Clanton, Brandolyn; And Others
Intended for teachers of secondary school students, five lessons on consumer credit are presented. In the first lesson students identify and evaluate sources of credit, compare some of the costs and benefits of credit, and learn to apply criteria used in evaluating applications for credit. In the second lesson, students learn about two basic types…
Radicchi, Filippo; Fortunato, Santo; Markines, Benjamin; Vespignani, Alessandro
Recently, the abundance of digital data is enabling the implementation of graph-based ranking algorithms that provide system level analysis for ranking publications and authors. Here, we take advantage of the entire Physical Review publication archive (1893-2006) to construct authors’ networks where weighted edges, as measured from opportunely normalized citation counts, define a proxy for the mechanism of scientific credit transfer. On this network, we define a ranking method based on a diffusion algorithm that mimics the spreading of scientific credits on the network. We compare the results obtained with our algorithm with those obtained by local measures such as the citation count and provide a statistical analysis of the assignment of major career awards in the area of physics. A website where the algorithm is made available to perform customized rank analysis can be found at the address http://www.physauthorsrank.org.
Marcos Roberto Kühl; Tatiana Valer; Ivonaldo Brandani Gusmão
This study aims to assess the perception of employees in a Credit Cooperative in what it refers to the importance of financial literacy of its cooperative members, taking into consideration the existing standards in the OECD and the Central Bank of Brazil that deal with the good practice of financial education, in order to verify the importance of financial education of its cooperative members is relevant from the perception of the cooperative's employees. The research is a descriptive study,...
Ferguson-Hessler, Monica G. M.; de Jong, Ton
This study aims at giving a systematic description of the cognitive activities involved in teaching physics. Such a description of instruction in physics requires a basis in two models, that is, the cognitive activities involved in learning physics and the knowledge base that is the foundation of expertise in that subject. These models have been provided by earlier research. The model of instruction distinguishes three main categories of instruction process: presenting new information, integrating (i.e., bringing structure into) new knowledge, and connecting elements of new knowledge to prior knowledge. Each of the main categories has been divided into a number of specific instruction processes. Hereby any limited and specific cognitive teacher activity can be described along the two dimensions of process and type of knowledge. The model was validated by application to lectures and problem-solving classes of first year university courses. These were recorded and analyzed as to instruction process and type of knowledge. Results indicate that teachers are indeed involved in the various types of instruction processes defined. The importance of this study lies in the creation of a terminology that makes it possible to discuss instruction in an explicit and specific way.
Full Text Available As banks have great social responsibility and are a subject to a specific and extensive regulations, one of the being Basel, the authors of this paper focus on the impact of credit risk assessment on credit activity of commercial banks. The authors of this paper provide a standard for risk management and an insight into directions on how to manage credit risk in the most efficient way and how to assess credit rating of a borrower.
Credit Derivatives are securities that offer protection against credit or default risk of bonds or loans. The credit derivatives emerging market has grown rapidly and credit derivatives are widely used. This paper describes the emerging credit derivatives market structure. The current market activity is analyzed through elementary pricing dynamics and the study of the term structure of default risk. Focusing on the performance of credit derivatives in stress situation, including legal and mar...
Credit ratings have a key role in modern financial markets as they communicate crucial information on the creditworthiness of a debt issuer to investors and regulators. These credit ratings are mostly determined by three rating agencies, namely Standard & Poor’s, Moody’s and Fitch, even though, the credit rating industry counts a dozen of recognized rating agencies. Indeed, the three agencies have become the market leaders with a market share of 94.3% on the U.S market (Bloomberg, 2015) and 9...
Оксана Георгіївна Волкова
Full Text Available The article deals with the issues of income taxation of credit unions in Ukraine by the tax on profits of enterprises and tax of revenues of their members accrued on the interest of contributions (deposits on deposit accounts and mutual funds the tax to incomes of physical persons. The consequences of the influence of tax rules on capitalization of unions and the level of their financial support is defined
The subject of this diploma thesis is managing credit risk in banks, as the most significant risk faced by banks. The aim of this work is to define the basic techniques, tools and methods that are used by banks to manage credit risk. The first part of this work focuses on defining these procedures and describes the entire process of credit risk management, from the definition of credit risk, describing credit strategy and policy, organizational structure, defining the most used credit risk mi...
McCall, Michael; Eckrich, Donald W
Researchers have suggested there may be sex differences in attitudes towards credit card possession and use. Undergraduates, 41 men and 41 women, completed a survey regarding their attitudes towards credit, credit card use, and repayment. Analysis indicated sex played a significant moderating role between number of credit cards used and the importance of paying off monthly balances. Women possessed more credit cards than men and engaged in more frequent shopping. Number of credit cards increased with paying off of monthly balances. Data are discussed in terms of the importance of managing credit card debt in an increasingly cashless society.
Board of Governors of the Federal Reserve System, Washington, DC.
The five sections of this consumer handbook are The Cost of Credit, Applying for Credit, Credit Histories and Records, Correcting Credit Mistakes, and Complaining about Credit. Each section discusses relevant legislation: Truth in Lending, the Equal Credit Opportunity Act, and the Fair Credit Reporting Act. Topics discussed in section I include…
Coal-seam methane, along with certain other non-conventional fuels, is eligible for a tax credit. This production tax credit allowed coal-seam methane producers to receive $0.7526 per million Btu of gas sold during 1986. In 1987, this credit rose to $0.78 per million Btu. The tax credit is a very significant element of the economic analysis of current coal-seam methane projects. In today's spot market, gas prices are around $1.50 per million Btu. Allowing for costs of production, the gas producer will net more income from the tax credit than from the sale of the gas. The Crude Oil Windfall Profit Tax Act of 1980 is the source of this tax credit. There were some minor changes made by subsequent legislation, but most of the tax credit has remained intact. Wells must be drilled by 1990 to qualify for the tax credit but the production from such wells is eligible for the tax credit until 2001. Projections have been made, showing that the tax credit should increase to $0.91 per million Btu for production in 1990 and $1.34 per million Btu in 2000. Variables which may decrease the tax credit from these projections are dramatically lower oil prices or general economic price deflation
US Agency for International Development — Credit Management System. Outsourced Internet-based application. CMS stores and processes data related to USAID credit programs. The system provides information...
Full Text Available The article starts with a brief description of Mises’ monetary theory, with emphasis on the Misesian differentiation of two kinds of credit: commodity and circulation credit, and with the description of the impact of circulation credit expansion on the business cycle. Further on it is described how Mises’ insights constituted the kernel of Austrian Business Cycle Theory, and how the same observations on the nature of credit constituted the kernel of the Chicago Plan (though Mises’ views on the nature of credit led him to different conculsions than it led the authors of the Chicago Plan, and how this plan is being “rediscovered” now. The following sections deal with observations of one of the preeminent current macroeconomic researches, Mr. Claudio Borio, on the elasticity of credit as the source of the current crisis, and on the importance of the financial cycle in analysing the current economic crisis. The author of this text demonstrates that Austrian Business Cycle Theory gave the same answer regarding the sources of economic crises that now modern macroeconomic theory seems to be approaching, and that the postulates for successful financial cycle modeling are already included in the ABCT. Finally, some observations on the current crisis, as well as proposals of avenues of further research are proposed.
Department of Homeland Security — The National Credit Union Administration (NCUA) is the independent federal agency that charters and supervises federal credit unions. NCUA, backed of the full faith...
Brady Raap, M.C.; Nomura, Y.; Sartori, E.
This article summarizes activities of the OECD/NEA Burnup Credit Expert Panel, a subordinate group to the Working Party on Nuclear Criticality Safety (WPNCS). The WPNCS of the OECD/NEA coordinates and carries out work in the domain of criticality safety at the international level. Particular attention is devoted to establishing sound databases required in this area and to addressing issues of high relevance such as burnup credit. The activities of the expert panel are aimed toward improving safety and identifying economic solutions to issues concerning the back-end of the fuel cycle. The main objective of the activities of the OECD/NEA Burnup Credit Expert Panel is to demonstrate that the available criticality safety calculational tools are appropriate for application to burned fuel systems and that a reasonable safety margin can be established. The method established by the expert panel for investigating the physics and predictability of burnup credit is based on the specification and comparison of calculational benchmark problems. A wide range of fuel types, including PWR, BWR, MOX, and VVER fuels, has been or are being addressed by the expert panel. The objective and status of each of these benchmark problems is reviewed in this article. It is important to note that the focus of the expert panel is the comparison of the results submitted by each participant to assess the capability of commonly used code systems, not to quantify the physical phenomena investigated in the comparisons or to make recommendations for licensing action. (author)
Bank for International Settlements
Executive summary Techniques for transferring credit risk, such as financial guarantees and credit insurance, have been a long-standing feature of financial markets. In the past few years, however, the range of credit risk transfer (CRT) instruments and the circumstances in which they are used have widened considerably. A number of factors have contributed to this growth, including: greater focus by banks and other financial institutions on risk management; a more rigorous approach to risk/re...
Molloy, Ian; Li, Jiangtao; Li, Ninghui
Theft of stored credit card information is an increasing threat to e-commerce. We propose a dynamic virtual credit card number scheme that reduces the damage caused by stolen credit card numbers. A user can use an existing credit card account to generate multiple virtual credit card numbers that are either usable for a single transaction or are tied with a particular merchant. We call the scheme dynamic because the virtual credit card numbers can be generated without online contact with the credit card issuers. These numbers can be processed without changing any of the infrastructure currently in place; the only changes will be at the end points, namely, the card users and the card issuers. We analyze the security requirements for dynamic virtual credit card numbers, discuss the design space, propose a scheme using HMAC, and prove its security under the assumption the underlying function is a PRF.
...; loans in the nature of overdraft protection; and credit extended in connection with credit cards. ... 12 Banks and Banking 5 2010-01-01 2010-01-01 false Consumer credit. 561.12 Section 561.12 Banks... AFFECTING ALL SAVINGS ASSOCIATIONS § 561.12 Consumer credit. The term consumer credit means credit extended...
Full Text Available Considering the importance of credit risk management to ensure the financial system stability,the paper presents financial and real sector interaction highlighting that credit growth based on increase of creditdemand, of income, of assets prices, of currency availability, the interest rate differential between countries andrelaxation of regulatory framework, leaves banks more vulnerable to subsequent downturn in economic activity andasset prices. It also outlines the steps taken or those I think that should be implemented in terms of improving creditrisk management, implementation of regulatory measures to limit credit expansion, enforcing the regulatoryrequirements for covering the expected and unexpected losses, introduction of new surveillance tools aimed to leadto a more resilient financial system.
Full Text Available The Basel III Accord has reportedly had an impact on SME financing. In this paper, we aim to highlight the determinants of SME credit worthiness. We use credit history in addition to financial ratios and “hybrid” indicators that have been built by mixing credit history with financial statement data. We develop a failure prediction logit model on 187 Italian SMEs. The use of short-term credit lines is the most important variable. Contrary to common understanding, capitalization levels do not affect ratings. Lastly, credit worthiness is sensitive to sale profitability.
Prasetyo, E.; Ekowati, T.; Roessali, W.; Gayatri, S.
The aims of study were: (i) identify of beef cattle fattening credit scheme, (ii) calculating and analyze of beef cattle farmers’ income, (iii) analyze of factors influencing beef cattle credit scheme towards farmer’s income. The research was held in five regencies in Central Java Province. Beef cattle fattening farm was standardized as an elementary unit. Survey method was used, while Two Stage Cluster Purposive Sampling was used for determining of sample. Data were analyzed using statistical method of quantitative descriptive and inferential statistics in term of income analysis and multiple linear regression models. The result showed that farmers used their own capital to run the farm. The average amount was IDR 10,769,871. Kredit Ketahanan Pangan dan Energi was credit scheme which was dominantly access by farmers. The average credit was IDR 23,312,200/farmer with rate of credit equal to 6.46%, the time of credit returning equal to 24.60 monthand the prediction of average collateral equal to IDR 35,800,00. The average of farmers’ income was IDR 4,361,611.60/2.96 head of beef cattle/fattening period. If the labour cost did not calculate as a cost production, hence the farmer’ income was IDR 7,608,630.41 or in other word the farmer’ income increase 74.44%. Factors of credit scheme which partially significant influence to the farmers’ income were number of own capital usage and value of credit collateral. Meanwhile, name of credit scheme, financing institution as a creditor, amount of credit, rate of credit scheme and time of returning credit were not significantly influence towards farmers’ income.
Describes an activity in which students design credit cards and discover for themselves the mathematical realities of buying on credit. Employs multiple-intelligence theory to increase the chance that all students will be reached. (YDS)
Michael S. Gibson
The striking growth of credit derivatives suggests that market participants find them to be useful tools for risk management. I illustrate the value of credit derivatives with three examples. A commercial bank can use credit derivatives to manage the risk of its loan portfolio. An investment bank can use credit derivatives to manage the risks it incurs when underwriting securities. An investor, such as an insurance company, asset manager, or hedge fund, can use credit derivatives to align its...
Ralph, Lisa M.
Access to consumer credit as a means of building wealth is one of the least examined forms of social inequality. The recent economic crisis in the United States has brought attention to the significance of consumer credit in our nation's economy; however, less understood are the specific obstacles and barriers that prevent low-income individuals from reaching the "American Dream." In an exploratory manner, this study compared credit access, credit literacy, and credit experience of low-income...
Neelam C. Poudyala; Jacek P. Siry; J.M. Bowker
While the urban forest is considered an eligible source of carbon offset credits, little is known about its market potential and the quality aspects of the credits. As credit suppliers increase in number and credit buyers become more interested in purchasing carbon credits, it is unclear whether and how urban forest carbon credits can perform relative to the other...
Carlos Manuel Díaz
Full Text Available The objective of this research was to analyze the financial risk in the consumption credits of the banking system of Venezuela between 2008-2015. The theoretical support was made based on Cóndor & Cajamarca (2014, monitoring credit risk is essential to preserve the stability of the financial system. The type of research was descriptive with a longitudinal trend design. Consumer loans accounted for 21% of the banking economy; these loans grew at an annual average of 17%, the delinquency and total portfolio coverage indicators showed a downward trend. This shows that the profile of potential borrowers by banks has been successful.
We propose an evolutionary model of a credit market. We show that the economy exhibits credit cycles. The model predicts dynamics which are consistent with some evidence about the Great Depression. Real shocks trigger episodes of credit--crunch which are observed in the process of adjustment towards the post shock equilibrium.
While functioning in accordance with the new, business and efficiency-oriented operating model, credit unions develop and begin functioning outside the community. It is universally recognised in scientific literature that as credit unions expand their activities beyond a community, social relations with credit union members weaken and the credit unions lose their social control element, which help them to better assess and manage information asymmetry and credit risk. So far, the analysis of ...
Oreska, Matthew P. J.; McGlathery, Karen J.; Emmer, Igino M.; Needelman, Brian A.; Emmett-Mattox, Stephen; Crooks, Stephen; Megonigal, J. Patrick; Myers, Doug
In their recent review, ‘Geoengineering with seagrasses: is credit due where credit is given?,’ Johannessen and Macdonald (2016) invoke the prospect of carbon offset-credit over-allocation by the Verified Carbon Standard as a pretense for their concerns about published seagrass carbon burial rate and global stock estimates. Johannessen and Macdonald (2016) suggest that projects seeking offset-credits under the Verified Carbon Standard methodology VM0033: Methodology for Tidal Wetland and Seagrass Restoration will overestimate long-term (100 yr) sediment organic carbon (SOC) storage because issues affecting carbon burial rates bias storage estimates. These issues warrant serious consideration by the seagrass research community; however, VM0033 does not refer to seagrass SOC ‘burial rates’ or ‘storage.’ Projects seeking credits under VM0033 must document greenhouse gas emission reductions over time, relative to a baseline scenario, in order to receive credits. Projects must also monitor changes in carbon pools, including SOC, to confirm that observed benefits are maintained over time. However, VM0033 allows projects to conservatively underestimate project benefits by citing default values for specific accounting parameters, including CO2 emissions reductions. We therefore acknowledge that carbon crediting methodologies such as VM0033 are sensitive to the quality of the seagrass literature, particularly when permitted default factors are based in part on seagrass burial rates. Literature-derived values should be evaluated based on the concerns raised by Johannessen and Macdonald (2016), but these issues should not lead to credit over-allocation in practice, provided VM0033 is rigorously followed. These issues may, however, affect the feasibility of particular seagrass offset projects.
Carroll, Suzanne J; Niyonsenga, Theo; Coffee, Neil T; Taylor, Anne W; Daniel, Mark
Associations between local-area residential features and glycosylated hemoglobin (HbA 1c ) may be mediated by individual-level health behaviors. Such indirect effects have rarely been tested. This study assessed whether individual-level self-reported physical activity mediated the influence of local-area descriptive norms and objectively expressed walkability on 10-year change in HbA 1c . HbA 1c was assessed three times for adults in a 10-year population-based biomedical cohort ( n = 4056). Local-area norms specific to each participant were calculated, aggregating responses from a separate statewide surveillance survey for 1600 m road-network buffers centered on participant addresses (local prevalence of overweight/obesity (body mass index ≥25 kg/m²) and physical inactivity (Walkability was directly and indirectly protective of worsening HbA 1c . Local-area descriptive norms and walkability influence cardiometabolic risk trajectory through individual-level physical activity. Efforts to reduce population cardiometabolic risk should consider the extent of local-area unhealthful behavioral norms and walkability in tailoring strategies to improve physical activity.
Credit risk is defined as that risk of financial loss caused by failure by the counterparty. According to statistics, for financial institutions, credit risk is much important than market risk, reduced diversification of the credit risk is the main cause of bank failures. Just recently, the banking industry began to measure credit risk in the context of a portfolio along with the development of risk management started with models value at risk (VAR). Once measured, credit risk can be diversif...
... OF TRANSPORTATION TRANSFER AND TRADING OF FUEL ECONOMY CREDITS § 536.4 Credits. (a) Type and vintage... category, and model year of origin (vintage). (b) Application of credits. All credits earned and applied are calculated, per 49 U.S.C. 32903(c), in tenths of a mile per gallon by which the average fuel...
Balasubramanyan, Lakshmi; Craig, Ben R.; Thomson, James B.; Zaman, Saeed
We examine how a combination of credit market and asset quality information can jointly be used in assessing bank franchise value. We find that expectations of future credit demand and future asset quality explain contemporaneous bank franchise value, indicative of the feedback in credit market information and its consequent impact on bank franchise value.
Full Text Available Credit scoring, it is a term for a wide spectrum of predictive models and their underlying techniques that aid financial institutions in granting credits. These methods decide who will get credit, how much credit they should get, and what further strategies will enhance the profitability of the borrowers to the lenders. Many statistical tools are avaiable for measuring quality, within the meaning of the predictive power, of credit scoring models. Because it is impossible to use a scoring model effectively without knowing how good it is, quality indexes like Gini, Kolmogorov-Smirnov statisic and Information value are used to assess quality of given credit scoring model. The paper deals primarily with the Information value, sometimes called divergency. Commonly it is computed by discretisation of data into bins using deciles. One constraint is required to be met in this case. Number of cases have to be nonzero for all bins. If this constraint is not fulfilled there are some practical procedures for preserving finite results. As an alternative method to the empirical estimates one can use the kernel smoothing theory, which allows to estimate unknown densities and consequently, using some numerical method for integration, to estimate value of the Information value. The main contribution of this paper is a proposal and description of the empirical estimate with supervised interval selection. This advanced estimate is based on requirement to have at least k, where k is a positive integer, observations of socres of both good and bad client in each considered interval. A simulation study shows that this estimate outperform both the empirical estimate using deciles and the kernel estimate. Furthermore it shows high dependency on choice of the parameter k. If we choose too small value, we get overestimated value of the Information value, and vice versa. Adjusted square root of number of bad clients seems to be a reasonable compromise.
Richard Machin explores the background to, and likely impact of, the two-child limit on the child element in Universal Credit and the Child Tax Credit, which was introduced by the Welfare Reform and Work Act 2016
Sanders, T.L.; Brady, M.C.; Renier, J.P.; Parks, C.V.
The current approach used for the development and certification of spent fuel storage and transport casks requires an assumption of fresh fuel isotopics in the criticality safety analysis. However, it has been shown that there is a considerable reactivity reduction when the isotopics representative of the depleted (or burned) fuel are used in a criticality analysis. Thus, by taking credit for the burned state of the fuel (i.e., burnup credit), a cask designer could achieve a significant increase in payload. Accurate prediction of k eff for spent fuel arrays depends both on the criticality safety analysis and the prediction of the spent fuel isotopics via a depletion analysis. Spent fuel isotopics can be obtained from detailed multidimensional reactor analyses, e.g. the code PDQ, or from point reactor burnup models. These reactor calculations will help verify the adequacy of the isotopics and determine Δk eff biases for various analysis assumptions (with and without fission products, actinide absorbers, burnable poison rods, etc.). New software developed to interface PDQ multidimensional isotopics with KENO V.a reactor and cask models is described. Analyses similar to those performed for the reactor cases are carried out with a representative burnup credit cask model using the North Anna fuel. This paper presents the analysis methodology that has been developed for evaluating the physics issues associated with burnup credit. It is applicable in the validation and characterization of fuel isotopics as well as in determining the influence of various analysis assumptions in terms of δk eff . The methodology is used in the calculation of reactor restart criticals and analysis of a typical burnup credit cask
Prasuhn, Frederick Carl
U.S. public university system policies were examined to learn how credit hours were determined for asynchronous online education. Findings indicated that (a) credit hour meaning and use are not consistent, (b) primary responsibility for credit hour decisions was at the local level, and (c) no policies exist to guide credit hour application for…
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.
Fox, Linda Kirk
This cooperative extension bulletin provides basic information about credit cards and their use. It covers the following topics: types of credit cards (revolving credit, travel and entertainment, and debit); factors to consider when evaluating a credit card (interest rates, grace period, and annual membership fee); other credit card costs (late…
... 7 Agriculture 15 2010-01-01 2010-01-01 false Credit quality. 4280.139 Section 4280.139 Agriculture... Improvements Program Section B. Guaranteed Loans § 4280.139 Credit quality. The lender must determine credit quality and must address all of the elements of credit quality in a written credit analysis, including...
Full Text Available An efficient system of credit information sharing contributes to solving the problem of information asymmetry on the credit and financial markets in general. The consequences of the global economic and financial crisis revealed an increasing demand for reliable information and data which could close the existing gap in their insufficiency, misuse or inadequate analytical value for the economic and financial policy makers. In that sense, more attention is directed to the usefulness of credit information sharing and the practical value of information and data contained in credit bureau reports for the purposes of achieving the overall economic policy goals. The fulfillment of that role depends mostly on the credit information sharing system and its characteristics, participants, and procedures. A credit bureau report in the best possible manner reflects all advantages and disadvantages of the established credit information exchange system in terms of its analytical value for the purposes of efficient macroeconomic and macrofinancial policies.
... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Credit analysis. 703.6 Section 703.6 Banks and... ACTIVITIES § 703.6 Credit analysis. A Federal credit union must conduct and document a credit analysis on an... Federal Deposit Insurance Corporation. A Federal credit union must update this analysis at least annually...
The present paper is an answer to the question, how did trust and credit emerge. The systems of trust and credit reduce the environmental and contextual complexities in which trust and credit are embedded. The paper analyses the forms of this reduction in a number of stages in the evolution...... of history from the present risk of modern systems back to early modernity, the Reformation and the high medieval Revolutions in law, organization and theology. It is not a history of economics, but a history of the conditions of some communication codes used in economic systems....
Credit risk is today one of the most intensely studied topics in quantitative finance. This book provides an introduction and overview for readers who seek an up-to-date reference to the central problems of the field and to the tools currently used to analyze them. The book is aimed at researchers...... and students in finance, at quantitative analysts in banks and other financial institutions, and at regulators interested in the modeling aspects of credit risk. David Lando considers the two broad approaches to credit risk analysis: that based on classical option pricing models on the one hand...
Libardo Quintero Salazar
Full Text Available When a contract of international sale of goods is mediated by a form of payment as the documentary credit, exporters that initially lack financial resources to produce or obtain merchandise that then will be delivered to the importer, look as first natural possibility of financing the transfer for the documentary credit. Now not always the credit can be transferable in accordance with the Uniform Customs and Practice for Documentary Credits (UCP – because, for example, the importer or the financial entity do not want it in that way. Given the above scenario, this article aims to provide solutions, explaining legal alternatives for the exporter that is not in the UCP-, to use the money that might correspond as a result of the documentary credit, to finance the production or acquisition of goods against other traders, and then reselling them to the importer. It concludes that the exporter can achieve such immediate funding - similar to what encourage the transfer of documentary credit - using to their relations with the supplier, figures as the assignment of a future credit, banker’s acceptance and contract terms.
Full Text Available Credit risk is the most important risk banks have to face with. It occurs due to an obligation created because of debtors' capital and interest rate nonpayment. Debtors obligations non-fulfilment may lead to great losses and insolvency in bank's business. Credit risk is the crucial reason of bank's insolvency. Over 80% of bank's balance sheet is exposed to credit risk.
K. K. Aggarwal
Full Text Available In order to stimulate demand of their product, firms generally give credit period to their customers. However, selling on credit exposes the firms to the additional dimension of bad debts expense (i.e., customer’s default. Moreover, credit period through its influence on demand becomes a determinant of inventory decisions and inventory sold on credit gets converted to accounts receivable indicating the interaction between the two. Since inventory and credit decisions are interrelated, inventory decisions must be determined jointly with credit decisions. Consequently, in this paper, a mathematical model is developed to determine inventory and credit decisions jointly. The demand rate is assumed to be a logistic function of credit period. The accounts receivable carrying cost along with an explicit consideration of bad debt expense which have been often ignored in previous models are incorporated in the present model. The discounted cash flow approach (DCF is used to develop the model and the objective is to maximize the present value of the firm’s net profit per unit time. Finally, numerical example and sensitivity analysis have been done to illustrate the effectiveness of the proposed model.
Having trouble with your credit card debt? Below you will find examples of hardship letters. There are several things to consider when writing a credit card hardship letter. A hardship letter is the first step to letting the credit card company know that things are bad. This free credit card hardship letter sample is only a guide in order to start the negotiation. Credit card debt hardship letter example, hardship letter to credit card. If you are having trouble paying off your debt and need ...
Full Text Available Tujuan penelitian ini menghasilkan model penskoran politomus untuk respons butir multiple true-false, sehingga dapat mengestimasi secara lebih akurat kemampuan di bidang fisika. Pengembangan penskoran menggunakan Four-D model dan diuji akurasinya melalui penelitian empiris dan simulasi. Penelitian empiris menggunakan 15 butir multiple true-false yang diambil dari soal UMPTN tahun 1996-2006 dan dikenakan pada 410 mahasiswa baru FMIPA Universitas Negeri Surabaya angkatan tahun 2007. Respons peserta tes diskor dengan tiga model partial credit (PCM I; II; dan III dan secara dikotomus. Hasil penskoran dianalisis dengan program Quest untuk mendapat-kan estimasi tingkat kesukaran butir (δ dan estimasi ke-mampuan peserta (θ untuk menentukan nilai fungsi informasi tes dan kesalahan baku estimasi. Penelitian simulasi mengguna-kan data bangkitan berdasarkan parameter empiris (δ dan θ memakai program statistik SAS dan akurasi estimasinya di-analisis dengan metode root mean squared error (RMSE. Hasil penelitian ini menunjukkan: (i Penskoran PCM dengan pem-bobotan mampu mengestimasi kemampuan lebih akurat di-bandingkan tanpa pembobotan maupun secara dikotomus; (ii Semakin banyak jumlah kategori dalam penskoran partial credit, semakin akurat. Kata kunci: model penskoran partial credit, butir multiple true-false ____________________________________________________________ THE PARTIAL CREDIT SCORING MODEL FOR THE MULTIPLE TRUE-FALSE BUTIRS IN PHYSICS Abstract This study is an attempt to overcome the weaknesses. This study aims to produce a polytomous scoring model for responses to multiple true-false butirs in order to get a more accurate estimation of abilities in physics. It adopts the Four-D model and its accuracy is assessed through empirical and simulation studies. The empirical study employed 15 multiple true-false butirs taken from the New Students Entrance Test of State University the year of 1996–2006. It administered to 410 new students enrolled
Aamland, Aase; Malterud, Kirsti; Werner, Erik L.
Background: Further research on effective interventions for patients with peristent Medically Unexplained Physical Symptoms (MUPS) in general practice is needed. Prevalence estimates of such patients are conflicting, and other descriptive knowledge is needed for development and evaluation of effective future interventions. In this study, we aimed to estimate the consultation prevalence of patients with persistent MUPS in general practice, including patients’ characteristics and...
Full Text Available This study examines the impact of credit risk on the interest income of banks in Nigeria between the period of 2000 and 2014. Unbalanced panel data analysis was used to estimate the model with unit root test, Breusch Pagan test, trend analysis, descriptive statistics, Perasan CD Test, heteroskedasticity test, heterogeneity test, serial correlation test, Jarquebera, F-statistics, random effect, fixed effect, time effect, Prob value, Hausman test and rho as the estimation parameters. The study discovered that NPL, LLP and LA are statistically significant in explaining the variation in interest income across banks in Nigeria, while LA/TD is not statistically significant in explaining the variation in interest income across banks in Nigeria. Based on this, the study recommends that regular update of credit policy and adequate measures to monitor loans should be put in place by banks in Nigeria, as these measures will reduce bad loans and ultimately cause a reduction in loan loss provisions.
McCall, Michael; Trombetta, Jessica; Gipe, Aimee
Prior research had suggested that individuals would estimate higher product values and even tip more in the presence of credit cues. In the absence of a clear theoretical interpretation of this credit card effect we propose that this tendency is an impression management strategy such that credit cue exposure influences perceptions of the self and focuses attention on individual wealth. Thus, in the presence of others, credit cues serve to enhance images of the self. Preliminary data in support of this alternative theoretical perspective are presented.
Boom, Jan-Tjeerd; R. Dijstra, Bouwe
This paper compares emissions trading based on a cap on total emissions (permit trading) and on relative standards per unit of output (credit trading). Two types of market structure are considered: perfect competition and Cournot oligopoly. We find that output, abatement costs and the number...... of firms are higher under credit trading. Allowing trade between permit-trading and credit-trading sectors may increase in welfare. With perfect competition, permit trading always leads to higher welfare than credit trading. With imperfect competition, credit trading may outperform permit trading....... Environmental policy can lead to exit, but also to entry of firms. Entry and exit have a profound impact on the performance of the schemes, especially under imperfect competition. We find that it may be impossible to implement certain levels of total industry emissions. Under credit trading several levels...
Credit markets have shown a dramatic development at the start of the 21st century. Increased regulatory pressure on financial institutions has spurred the development of innovative products that allow for transfer of credit risk. These developments lay at the base of the largest financial crisis
Jézabel Couppey-Soubeyran; Jérôme Héricourt
Using a database of more than 1,300 firms from six countries in the MENA region, we study the impact of financial development on the relationship between trade credit on the one hand and bank credit access and firm-level characteristics, especially financial health, on the other hand. Trade credit use increases with the difficulty for gaining access to bank credit, and indicators of the quality of the firm's financial structure negatively influence the use of trade credit. Additional investig...
Lie, Celia; Hunt, Maree; Peters, Heather L.; Veliu, Bahrie; Harper, David
The "credit card effect" describes a finding where greater value is given to consumer items if credit card logos are present. One explanation for the effect is that credit cards elicit spending behavior through associative learning. If this is true, social, economic and historical contexts should alter this effect. In Experiment 1, Year…
There is continuing controversy over the importance of credit constraints. This paper investigates whether total household expenditure and debt is affected by an exogenous increase in access to credit provided by a credit market reform that enabled Danish house owners to use housing equity...
Christoffersen, Peter; Jacobs, Kris; Jin, Xisong
We characterize diversification in corporate credit using a new class of dynamic copula models which can capture dynamic dependence and asymmetry in large samples of firms. We also document important differences between credit spread and equity return dependence dynamics. Modeling a decade...... the crisis and remain high as well. The most important shocks to credit dependence occur in August of 2007 and in August of 2011, but interestingly these dates are not associated with significant changes to median credit spreads....
... credit association investment in farmers' notes given to cooperatives and dealers. 615.5172 Section 615....5172 Production credit association and agricultural credit association investment in farmers' notes... farmers and ranchers eligible to borrow from such associations. (b) Such notes and other obligations...
Conde, J.M.; Recio, M.
The status of development of burnup credit for criticality safety analyses in Spain is described in this paper. Ongoing activities in the country in this field, both national and international, are resumed. Burnup credit is currently being applied to wet storage of PWR fuel, and credit to integral burnable absorbers is given for BWR fuel storage. It is envisaged to apply burnup credit techniques to the new generation of transport casks now in the design phase. The analysis methodologies submitted for the analyses of PWR and BWR fuel wet storage are outlined. Analytical activities in the country are described, as well as international collaborations in this field. Perspectives for future research and development of new applications are finally resumed. (author)
In 2015, legislation to improve access to dual-credit programs and to reduce disparities in access and completion--particularly for low income and underrepresented students--was enacted. The new law focused on expanding access to College in the High School but acknowledged issues in other dual-credit programs and reinforced the notion that cost…
Dorn, Stan; Varon, Janet; Pervez, Fouad
The Trade Act of 2002 created federal tax credits to subsidize health coverage for certain early retirees and workers displaced by international trade. Though small, this program offers the opportunity to learn how to design future tax credits for larger groups of uninsured. During September 2004, the most recent month for which there are data about all forms of Trade Act credits, roughly 22 percent of eligible individuals received credits. The authors find that health insurance tax credits are more likely to reach their target populations if such credits: 1) limit premium costs for the low-income uninsured and do not require full premium payments while applications are pending; 2) provide access to coverage that beneficiaries value, including care for preexisting conditions; 3) are combined with outreach that uses easily understandable, multilingual materials and proactive enrollment efforts; and 4) feature a simple application process involving one form filed with one agency.
The Department of Energy sponsored a workshop on the use of burnup credit in the criticality design of spent fuel shipping casks on February 21 and 22, 1988. Twenty-five different presentations on many related topics were conducted, including the effects of burnup credit on the design and operation of spent fuel storage pools, casks and modules, and shipping casks; analysis and physics issues related to burnup credit; regulatory issues and criticality safety; economic incentives and risks associated with burnup credit; and methods for verifying spent fuel characteristics. An abbreviated version of the DOE workshop was repeated as a special session at the November 1988 American Nuclear Society Meeting in Washington, DC. Each of the invited speakers prepared detailed papers on his or her respective topic. The individual papers have been cataloged separately
Gutenbrunner, Christoph; Meyer, Thorsten; Melvin, John; Stucki, Gerold
Physical and Rehabilitation Medicine (PRM) is an independent medical specialty focusing on the improvement of functioning. A shared understanding of concepts is of vital importance for integrated action in this field. The aim of the present paper is to provide a conceptual model of PRM, to give background on its development and adoptions, and to explain the choice of terms, phrases, and concepts. It is based on the terms and concepts of the International Classification of Functioning, Disability and Health (ICF) that provides a widely accepted conceptual model and taxonomy of human functioning. Based on the White Book on Physical and Rehabilitation Medicine in Europe of 2006 a first proposal for a conceptual description of rehabilitation has been published in 2007. This proposal has been subjected to comments for modifications and amendments. E.g. it was underlined that PRM can apply both a health condition perspective including curative approaches and measures aiming at body functions and structures and a multi-dimensional and multi-professional team approach aiming to optimize functioning from a comprehensive functioning and disability perspective. The interaction between the PRM specialist and the person should be characterized as a partnership. PRM specialists work across all areas of health services and across all age groups. In summary, the specialty of PRM is characterized as the medicine of functioning.
..., Risk Management, Farm Credit System Insurance Corporation. (f) A direct lender association shall... Administration office that the Chief Examiner designates, and the Director, Risk Management, Farm Credit System... Credit Banks or agricultural credit banks and direct lender associations. 614.4125 Section 614.4125 Banks...
Cahill, Timothy P.
In "Pushing Plastic," ("The New England Journal of Higher Education", Summer 2007), John Humphrey notes that many college administrators justify their credit card solicitations by suggesting that credit card access will help students learn to manage their own finances. Instead, credit card debt will teach thousands of students…
... appropriations, direct payment of a Credit Risk Premium by the Applicant or a non-Federal infrastructure partner... 49 Transportation 4 2010-10-01 2010-10-01 false Credit reform. 260.13 Section 260.13... REHABILITATION AND IMPROVEMENT FINANCING PROGRAM Overview § 260.13 Credit reform. The Federal Credit Reform Act...
... exclude CLF stock subscriptions, based on the asset's negligible credit risk and to facilitate corporate... removing paragraphs (c)(3) and (f)(4) and adding paragraph (h) to read as follows: Sec. 704.6 Credit risk... NATIONAL CREDIT UNION ADMINISTRATION 12 CFR Part 704 RIN 3133-AD95 Corporate Credit Unions AGENCY...
Jensen, Barbara J.; And Others
This instructional guide adds two new sections to the original guide published in May 1982. The guide was designed to assist educators in teaching the topics of consumer credit and consumer credit protection to secondary and postsecondary students in various economics and business courses, as well as in adult and community education courses. The…
Full Text Available The aims of study were to analyze (i income of beef cattle farming, (ii ability of farmers to meettheir obligation for returning credit, (iii role of character, capacity, capital, collateral and conditions(5C and its effect on credit return. The study was conducted using survey methods on farmers (fatteningand cow-calf operation, who use credit. Sample location was determined using two stage clusterrandom sampling based on beef cattle population, namely region of Grobogan, Blora, Rembang,Wonogiri and Boyolali. Number of respondents was 50 for fattening and 50 for cow-calf operation. Datawere analyzed by descriptive and inferential statistic, which consisted of scoring, income and multiplelinear regression. Results showed that income per-year of beef cattle fattening was greater than cow-calfoperation (IDR 8,954,208.00>1,606,786.00, as well as its contribution to the household farmers’income (49.45>14.91%. Credit return ability was 61.35% based on amount of credit IDR 22,482,510.Five-C analysis resulted that character and capacity of farmers were in adequate category, while capital,collateral and condition were IDR 14,932,500.00, IDR 58,740,000.00 and IDR 14,440,600.00. Capitaland collateral had significant effects, while character, capacity and condition had no significant effectson credit return.
... Banks and Banking FARM CREDIT ADMINISTRATION FARM CREDIT SYSTEM LOAN POLICIES AND OPERATIONS Banks for Cooperatives and Agricultural Credit Banks Financing International Trade § 614.4720 Letters of credit. Banks for cooperatives and agricultural credit banks, under policies adopted by their boards of directors...
Mahata, Puspita; Mahata, Gour Chandra; Kumar De, Sujit
Traditional supply chain inventory modes with trade credit usually only assumed that the up-stream suppliers offered the down-stream retailers a fixed credit period. However, in practice the retailers will also provide a credit period to customers to promote the market competition. In this paper, we formulate an optimal supply chain inventory model under two levels of trade credit policy with default risk consideration. Here, the demand is assumed to be credit-sensitive and increasing function of time. The major objective is to determine the retailer's optimal credit period and cycle time such that the total profit per unit time is maximized. The existence and uniqueness of the optimal solution to the presented model are examined, and an easy method is also shown to find the optimal inventory policies of the considered problem. Finally, numerical examples and sensitive analysis are presented to illustrate the developed model and to provide some managerial insights.
Pathak, Arohi; Keenan, Nancy
In 1999, Illinois enacted a tuition tax credit program. Tax credit supporters suggest tax credits help low-income students. However, opponents argue that they disproportionately benefit higher-income families whose children are already attending private schools and may decrease already limited resources available to public schools. New data from…
Saad, Shakila; Ahmad, Noryati; Jaffar, Maheran Mohd
Nowadays, credit scoring system plays an important role in banking sector. This process is important in assessing the creditworthiness of customers requesting credit from banks or other financial institutions. Usually, the credit scoring is used when customers send the application for credit facilities. Based on the score from credit scoring, bank will be able to segregate the "good" clients from "bad" clients. However, in most cases the score is useful at that specific time only and cannot be used to forecast the credit worthiness of the same applicant after that. Hence, bank will not know if "good" clients will always be good all the time or "bad" clients may become "good" clients after certain time. To fill up the gap, this study proposes an equation to forecast the credit scoring of the potential borrowers at a certain time by using the historical score related to the assumption. The Mean Absolute Percentage Error (MAPE) is used to measure the accuracy of the forecast scoring. Result shows the forecast scoring is highly accurate as compared to actual credit scoring.
Fung, K.K.; Mackinnon, J.C.
A review of crediting natural circulation as a backup means of removing the reactor core decay heat during an outage in Ontario Power Generation's nuclear stations was completed in 2000. The objective was to define the configurations and conditions under which natural circulation can be confidently credited as an effective heat transport mechanism for use in shutdown heat sink management. The project was an interdisciplinary program, and involved analyses in the areas of heat transport system thermalhydaulics, fuel and fuel channel thermal and mechanical behaviour, radiation physics, and probabilistic risks. The assessment shows that it is economically acceptable to credit natural circulation as a backup means of removing the core decay heat whenever the no fuel failure criteria are met. The economic risks associated with such a potential use decrease with time after shutdown. The waiting times after shutdown when there would be various levels of risks of damaging the pressure tubes and fuel bundles were derived for use in planning maintenance activities so as to minimize the economic risks. (author)
Frandsen, Anne Kathrine; Bertelsen, Niels Haldor; Haugbølle, Kim
During the past two years the Nordic Baltic research project CREDIT (Construction and Real Estate – Developing Indicators for Transparency) has worked with the aim to improve transparency of value creation in building and real estate. One of the central deliverables of the CREDIT project was a fr......During the past two years the Nordic Baltic research project CREDIT (Construction and Real Estate – Developing Indicators for Transparency) has worked with the aim to improve transparency of value creation in building and real estate. One of the central deliverables of the CREDIT project...... was a framework of indicators relevant in building and real estate and applicable in the Nordic and Baltic countries as well as a proposal for a set of key indicators. The study resulting in CREDIT Performance Indicator Framework has been based on 28 case studies of evaluation practises in the building and real...... estate sector each addressing three interlinked levels: building/ projects level, company or enterprise level and benchmarking system level. Additionally it has been based on dialogue with researchers and professional organisation, international research and standardisation work and national building...
... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Credit risk management. 704.6 Section 704.6... CREDIT UNIONS § 704.6 Credit risk management. (a) Policies. A corporate credit union must operate according to a credit risk management policy that is commensurate with the investment risks and activities...
Full Text Available This paper investigates the effect of inflation volatility on private sector credit growth. The results indicate that private sector credit growth is positively linked to the one period lagged inflation volatility. Given that past monetary policy actions continue to affect the targeted variables due to the substantial lags in the transmission mechanism, the positive response of private sector credit growth to past inflation volatility suggests a credible monetary policy regime in Uganda, which has led to a reduction in the level of macroeconomic uncertainty and the restoration of favorable economic conditions and prospects, thus increasing the demand for credit. Further, the study finds that the lagged private sector credit growth, nominal exchange rate, and inflation have a statistically significant effect on private sector credit growth while financial innovation, interest rates, and GDP growth appear not to be important determinants of private sector credit growth. The robustness of our findings is confirmed by sensitivity checks.
... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Farm Credit Bank. 619.9145 Section 619.9145 Banks and Banking FARM CREDIT ADMINISTRATION FARM CREDIT SYSTEM DEFINITIONS § 619.9145 Farm Credit Bank. The term Farm Credit Bank refers to a bank resulting from the mandatory merger of the Federal land...
Mihalczo, J.T.; Mullens, J.A.; Mattingly, J.K.; Valentine, T.E.
This paper describes all time and frequency analysis parameters measured with a new correlation processor (capability up to 1 GHz sampling rates and up to five input data channels) for three input channels: (1) the 252 Cf source ionization chamber; (2) a detection channel; and (3) a second detection channel. An intuitive and physical description of the various measured quantities is given as well as a brief mathematical description and a brief description of how the data are acquired. If the full five-channel capability is used, the number of measured quantities increases in number but not in type. The parameters provided by this new processor can be divided into two general classes: time analysis signatures and their related frequency analysis signatures. The time analysis signatures include the number of time m pulses occurs in a time interval, that is triggered randomly, upon a detection event, or upon a source fission event triggered. From the number of pulses in a time interval, the moments, factorial moments, and Feynmann variance can be obtained. Recent implementations of third- and fourth-order time and frequency analysis signatures in this processor are also briefly described. Thus, this processor used with a timed source of input neutrons contains all of the information from a pulsed neutron measurement, one and two detector Rossi-α measurements, multiplicity measurements, and third- and fourth-order correlation functions. This processor, although originally designed for active measurements with a 252 Cf interrogating source, has been successfully used passively (without 252 Cf source) for systems with inherent neutron sources such as fissile systems of plutonium. Data from active measurements with an 18.75 kg highly enriched uranium (93.2 wt%, 235 U) metal casting for storage are presented to illustrate some of the various time and frequency analysis parameters. This processor, which is a five-channel time correlation analyzer with time channel widths
Full Text Available The given client-credit has associated several types of costs. If a company gives client-credit for a certain period of time, then it will have to finance its activity from other sources. Another aspect is the one related to the size of allotted sum. The sum that must be covered does not equal the turnover. The impact on financing the operating cycle is found usually only under the form of expenses which are made up of variable costs (because amortization must not be paid, the profit is included in the price. Thus, the sum which must be covered is not related to the non-cashed turnover from the client-credit, but only to variable costs. This will be the sum that must be covered from the financing sources. Supplier-credit is a source attracted, usually it has no cost.
Fabbri, D.; Klapper, L.F.
This paper studies the decision of firms to extend trade credit to customers and its relation with their financing decisions. We use a novel firm-level database with unique information on market power in both output and input markets and on the amount, terms and payment history of trade credit
Eppinger, Peter; Potrafke, Niklas
We investigate whether globalization influenced credit market deregulation over the period 1970-2010. Globalization is measured by the KOF indices of globalization. Credit market deregulation is measured by the credit market freedom indicators of the Fraser Institute. The results from both cross-sectional and panel regressions using ordinary least squares indicate a positive correlation between globalization and credit market deregulation. We account for reverse causality by using predicted t...
The diploma thesis deals with consumer's credit grants of banking and non-banking corporations and comparison of their service quality. The first part of research is dedicated to consumer's knowledge of credit issues. Second describes main difficulties of consumer's credit grants of banking and non-banking corporations and proves their use of unfair manners. The final part of thesis propose improvements, which will boost consumer's protection on field of consumer's credits.
... Venture Capital Program. 108.10 Section 108.10 Business Credit and Assistance SMALL BUSINESS ADMINISTRATION NEW MARKETS VENTURE CAPITAL (âNMVCâ) PROGRAM Introduction to Part 108 § 108.10 Description of the New Markets Venture Capital Program. The New Markets Venture Capital (“NMVC”) Program is a...
Lancaster, D.; Fuentes, E.; Kang, Chi.
DOE has submitted a topical report to the NRC justifying burnup credit based only on actinide isotopes (U-234, U-235, U-236, U-238, Pu-238, Pu-239, Pu-240, Pu-241, Pu-242, and Am-241). When this topical report is approved, it will allow a great deal of the commercial spent nuclear fuel to be transported in significantly higher capacity casks. A cost savings estimate for shipping fuel in 32 assembly (burnup credit) casks as opposed to 24 assembly (non-burnup credit) casks was previously presented. Since that time, more detailed calculations have been performed using the methodology presented in the Actinide-Only Burnup Credit Topical Report. Loading curves for derated casks have been generated using actinide-only burnup credit and are presented in this paper. The estimates of cost savings due to burnup credit for shipping fuel utilizing 32, 30, 28, and 24 assembly casks where only the 24 assembly cask does not burnup credit have been created and are discussed. 4 refs., 2 figs
... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Farm Credit bank(s). 619.9140 Section 619.9140 Banks and Banking FARM CREDIT ADMINISTRATION FARM CREDIT SYSTEM DEFINITIONS § 619.9140 Farm Credit bank(s). Except as otherwise defined, the term Farm Credit bank(s) includes Farm Credit Banks...
Calem, P.; Cannon, M.; Nakamura, L.I.
We empirically study how the underlying riskiness of the pool of home equity line of credit originations is affected over the credit cycle. Drawing from the largest existing database of U.S. home equity lines of credit, we use county-level aggregates of these loans to estimate panel regressions on
Lee, Haejung; Boo, Sunjoo; Yu, Jihyoung; Suh, Soon-Rim; Chun, Kook Jin; Kim, Jong Hyun
Both the beneficial relationship between exercise and quality of life and the important role played by exercise self-efficacy in maintaining an exercise regimen among individuals with chronic heart failure are well known. However, most nursing interventions for Korean patients with chronic heart failure focus only on providing education related to risk factors and symptoms. Little information is available regarding the influence of physical functions, physical activity, and exercise self-efficacy on quality of life. This study was conducted to examine the impact of physical functioning, physical activity, and exercise self-efficacy on quality of life among individuals with chronic heart failure. This study used a cross-sectional descriptive design. Data were collected from 116 outpatients with chronic heart failure in Korea. Left ventricular ejection fraction and New York Heart Association classifications were chart reviewed. Information pertaining to levels of physical activity, exercise self-efficacy, and quality of life were collected using self-administered questionnaires. Data were analyzed using descriptive statistics, t tests, analyses of variance, correlations, and hierarchical multiple regressions. About 60% of participants were physically inactive, and most showed relatively low exercise self-efficacy. The mean quality-of-life score was 80.09. The significant correlates for quality of life were poverty, functional status, physical inactivity, and exercise self-efficacy. Collectively, these four variables accounted for 50% of the observed total variance in quality of life. Approaches that focus on enhancing exercise self-efficacy may improve patient-centered outcomes in those with chronic heart failure. In light of the low level of exercise self-efficacy reported and the demonstrated ability of this factor to predict quality of life, the development of effective strategies to enhance exercise self-efficacy offers a novel and effective approach to improving
... CONVERSION MORTGAGE INSURANCE Eligibility; Endorsement Eligible Mortgagors § 206.37 Credit standing. Each mortgagor must have a general credit standing satisfactory to the Secretary. ... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Credit standing. 206.37 Section 206...
... SECURITIES AND EXCHANGE COMMISSION [Release No. 34-69433; File No. 4-661] Credit Ratings... examine issues in connection with the possibility of developing a credit rating assignment system. The... FURTHER INFORMATION CONTACT: Scott Davey at (212) 336-0075, Office of Credit Ratings, Securities and...
The main objective of this study is to emphasize the importance of creating special governmental refinancing institutions targeted towards strategic economic sectors. Such institution in Macedonia is Agricultural Credit Discount Fund, a separate unit within the Macedonian Bank for Development Promotion that administers a credit line meant to support the agribusiness. As it is commonly known agriculture is one of the most important economic sectors of the country. The ACDF's 'modus operandi' i...
Tamura, Shinsuke; Yanase, Tatsuro
This paper proposes a mechanism for anonymous credit card systems, in which each credit card holder can conceal individual transactions from the credit card company, while enabling the credit card company to calculate the total expenditures of transactions of individual card holders during specified periods, and to identify card holders who executed dishonest transactions. Based on three existing mechanisms, i.e. anonymous authentication, blind signature and secure statistical data gathering, together with implicit transaction links proposed here, the proposed mechanism enables development of anonymous credit card systems without assuming any absolutely trustworthy entity like tamper resistant devices or organizations faithful both to the credit card company and card holders.
... management (ALM) and credit risk, and whether to make modifications in the area of corporate governance. NCUA... the revisions, an analysis of how the final investment, credit risk, and asset liability provisions..., credit risk, ALM, liquidity, and capital measures that together should greatly reduce the systemic risk...
... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Unfair credit practices. 706.2 Section 706.2 Banks and Banking NATIONAL CREDIT UNION ADMINISTRATION REGULATIONS AFFECTING CREDIT UNIONS CREDIT... attachment, execution, or other process on real or personal property held, owned by, or due to the consumer...
Bams, Dennis; Bos, Jaap; Pisa, Magdalena
Firms depend heavily on trade credit. This paper introduces a trade credit network into a structural model of the economy. In an empirical analysis of the model, we find that trade credit is an elusive insurance: as long as a firm is financially unconstrained and times are good, more trade credit
Full Text Available Business and credit cycles have an impact on credit insurance, as they do on other businesses. Nevertheless, in credit insurance, the impact of the systemic risk is even more important and can lead to major losses during a crisis. Because of this, the insurer surveils and manages policies almost continuously. The management actions it takes limit the consequences of a downturning cycle. However, the traditional modeling of economic capital does not take into account this important feature of credit insurance. This paper proposes a model aiming to estimate future losses of a credit insurance portfolio, while taking into account the insurer’s management actions. The model considers the capacity of the credit insurer to take on less risk in the case of a cycle downturn, but also the inverse, in the case of a cycle upturn; so, losses are predicted with a more dynamic perspective. According to our results, the economic capital is over-estimated when not considering the management actions of the insurer.
Brassard, Gilles; Méthot, André Allan
In an earlier paper written in loving memory of Asher Peres, we gave a critical analysis of the celebrated 1935 paper in which Einstein, Podolsky and Rosen (EPR) challenged the completeness of quantum mechanics. There, we had pointed out logical shortcomings in the EPR paper. Now, we raise additional questions concerning their suggested program to find a theory that would “provide a complete description of the physical reality”. In particular, we investigate the extent to which the EPR argumentation could have lead to the more dramatic conclusion that quantum mechanics is in fact incorrect. With this in mind, we propose a speculation, made necessary by a logical shortcoming in the EPR paper caused by the lack of a necessary condition for “elements of reality”, and surmise that an eventually complete theory would either be inconsistent with quantum mechanics, or would at least violate Heisenberg’s Uncertainty Principle.
... 17 CFR Part 246 Department of Housing and Urban Development 24 CFR Part 267 Credit Risk Retention... 2501-AD53 Credit Risk Retention AGENCIES: Office of the Comptroller of the Currency, Treasury (OCC..., Commission, FHFA, and HUD (the Agencies) are proposing rules to implement the credit risk retention...
Christoffersen, Peter; Du, Du; Elkamhi, Redouane
to the real economy and not to bond prices can simultaneously explain several key empirical regularities in credit markets. Our model captures the empirical level and volatility of credit spreads, generates a flexible credit risk term structure, and provides a good fit to a century of observed spreads...
... family in kW (sales weighted). The power of each configuration is the rated output in kilowatts as....1307 Credit calculation. For each participating engine family, emission credits (positive or negative... for an engine family whether generating positive or negative in-use emission credits: ER04oc96.053...
Brady, M.C.; Napolitano, D.G.
The concept of allowing reactivity credit for the depleted (or burned) state of pressurized water reactor fuel in the licensing of spent fuel facilities introduces a new challenge to members of the nuclear criticality community. The primary difference in this analysis approach is the technical ability to calculate spent fuel compositions (or inventories) and to predict their effect on the system multiplication factor. Isotopic prediction codes are used routinely for in-core physics calculations and the prediction of radiation source terms for both thermal and shielding analyses, but represent an innovation for criticality specialists. This paper discusses two methodologies currently being developed to specifically evaluate isotopic composition and reactivity for the burnup credit concept. A comprehensive approach to benchmarking and validating the methods is also presented. This approach involves the analysis of commercial reactor critical data, fuel storage critical experiments, chemical assay isotopic data, and numerical benchmark calculations
... 20 Employees' Benefits 1 2010-04-01 2010-04-01 false Employer tax credits. 227.5 Section 227.5... SUPPLEMENTAL ANNUITIES § 227.5 Employer tax credits. Employers are entitled to tax credits if they pay non.... The tax credits for each month equal the sum of the reductions for employer pensions in the...
... 2501-AD53 Credit Risk Retention AGENCIES: Office of the Comptroller of the Currency, Treasury (OCC... credit risk retention requirements of section 15G of the Securities Exchange Act of 1934, as added by the Dodd-Frank Wall Street Reform and Consumer Protection Act (``Credit Risk NPR'' or ``proposed rule...
... 48 Federal Acquisition Regulations System 6 2010-10-01 2010-10-01 true Tax credit. 1632.607... 1632.607 Tax credit. FAR 32.607 has no practical application to FEHBP contracts. The statutory... may not offset debts to the Fund by a tax credit which is solely a Government obligation. ...
... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Risk mitigation credit. 702.108 Section 702.108... CORRECTIVE ACTION Net Worth Classification § 702.108 Risk mitigation credit. (a) Who may apply. A credit union may apply for a risk mitigation credit if on any of the current or three preceding effective dates...
... substantially similar to extensions of credit to nonpolitical debtors that are of similar risk and size of... 11 Federal Elections 1 2010-01-01 2010-01-01 false Extension of credit. 100.55 Section 100.55... Contribution (2 U.S.C. 431(8)) § 100.55 Extension of credit. The extension of credit by any person is a...
Klaassen, Chris A.J.
Credit is introduced in acceptance sampling on attributes and a Credit Based Acceptance sampling system is developed that is very easy to apply in practice.The credit of a producer is defined as the total number of items accepted since the last rejection.In our sampling system the sample size for a
... 48 Federal Acquisition Regulations System 6 2010-10-01 2010-10-01 true Tax credit. 2132.607... Contract Debts 2132.607 Tax credit. FAR 32.607 has no practical application to FEGLI Program contracts. The... Government, contractors may not offset debts to the Fund by a tax credit that is solely a Government...
Safety analyses of criticality control systems for transportation packages include an assumption that the spent nuclear fuel (SNF) loaded into the package is fresh or unirradiated. In other words, the spent fuel is assumed to have its original, as-manufactured U-235 isotopic content. The ''fresh fuel'' assumption is very conservative since the potential reactivity of the nuclear fuel is substantially reduced after being irradiated in the reactor core. The concept of taking credit for this reduction in nuclear fuel reactivity due to burnup of the fuel, instead of using the fresh fuel assumption in the criticality safety analysis, is referred to as ''Burnup Credit.'' Burnup credit uses the actual physical composition of the fuel and accounts for the net reduction of fissile material and the buildup of neutron absorbers in the fuel as it is irradiated. Neutron absorbers include actinides and other isotopes generated as a result of the fission process. Using only the change in actinide isotopes in the burnup credit criticality analysis is referred to as ''Actinide-Only Burnup Credit.'' The use of burnup credit in the design of criticality control systems enables more spent fuel to be placed in a package. Increased package capacity results in a reduced number of storage, shipping and disposal containers for a given number of SNF assemblies. Fewer shipments result in a lower risk of accidents associated with the handling and transportation of spent fuel, thus reducing both radiological and nonradiological risk to the public. This paper describes the modeling and the results of comparison between measured and calculated isotopic inventories for a selected number of samples taken from a Yankee Rowe spent fuel assembly
Full Text Available A network model of credit risk contagion is presented, in which the effect of behaviors of credit risk holders and the financial market regulators and the network structure are considered. By introducing the stochastic dominance theory, we discussed, respectively, the effect mechanisms of the degree of individual relationship, individual attitude to credit risk contagion, the individual ability to resist credit risk contagion, the monitoring strength of the financial market regulators, and the network structure on credit risk contagion. Then some derived and proofed propositions were verified through numerical simulations.
... 12 Banks and Banking 3 2010-01-01 2010-01-01 false Special credit card provisions. 226.12 Section... SYSTEM TRUTH IN LENDING (REGULATION Z) Open-End Credit § 226.12 Special credit card provisions. (a) Issuance of credit cards. Regardless of the purpose for which a credit card is to be used, including...
... believes the credit risk of carrying this asset is negligible and warrants such treatment, as CLF stock is... credit union excludes the consolidated assets of such programs from risk-weighted assets pursuant to... paragraphs (c)(3) and (f)(4) and adding new p(h) to read as follows: Sec. 704.6 Credit risk management...
Schapira, D V; Kumar, N B; Clark, R A; Yag, C
Screening for breast cancer using mammography has been shown to be effective in reducing mortality from breast cancer. The authors attempted to determine if use of a wallet-size plastic screening "credit" card would increase participants' compliance for subsequent mammograms when compared with traditional methods of increasing compliance. Two hundred and twenty consecutive women, ages 40-70 years, undergoing their first screening mammography were recruited and assigned randomly to four groups receiving (1) a reminder plastic credit card (2) reminder credit card with written reminder; (3) appointment card; and (4) verbal recommendation. Return rates of the four groups were determined after 15 months. The return rate for subsequent mammograms was significantly higher for participants (72.4%) using the credit card than for participants (39.8%) exposed to traditional encouragement/reminders (P less than 0.0001). The credit card was designed to show the participant's screening anniversary, and the durability of the card may have been a factor in increasing the return rate. The use of reminder credit cards may increase compliance for periodic screening examinations for other cancers and other chronic diseases.
... 27 Alcohol, Tobacco Products and Firearms 2 2010-04-01 2010-04-01 false Tax credit. 46.223 Section... for Sale on April 1, 2009 Tax Liability Calculation § 46.223 Tax credit. The dealer is allowed a credit of up to $500 against the total floor stocks tax. However, controlled groups are eligible for only...
Full Text Available Kisan Credit Card (KCC has now been regarded as the only medium of short-term credit for agriculture. The Kisan Credit Card (KCC scheme was introduced by the Finance Minister in his budget speech in the year 1998-99. From the year 1998-99, the scheme was implemented by public sector commercial banks, RRBs (Regional Rural Banks and cooperative banks in the country. It has emerged as an innovative credit distribution system to meet the production credit requirements of the farmers in a timely and easy manner. The present paper is aimed to study role of Kisan Credit Card in the rural credit facilitation in India.
Ott, Vivian; Thomas, Jessica A; Fernando, Harshini
Predicting students' aptitude for post-secondary success remains a widely studied topic. This descriptive study explored demographic variables contributing to success in quantitative courses required by the nursing degree plan. Identification of an "at risk" student profile may inform interventions with which to support attainment of an academic degree. The purpose of this study was to examine the associations between demographic characteristics and successful completion of baccalaureate nursing courses thought to enhance quantitative reasoning skills: first-year math, first-year chemistry, and second-year pathopharmacology nursing. This retrospective analysis accessed 4521 academic records of students who took these three courses at a United States university sometime between Fall 2008 and Fall 2015. De-identified student data included course grades, gender, full-time study, income, marital status, first generation, secondary school (also known as high school) location, dual credit, and high school and university grade point averages. Descriptive statistical analysis was conducted to describe the important features of the data. Of the 4521 records, 2556 undergraduates (57%) passed the courses in which they were enrolled. Among successful students, females outnumbered males (66%), ages ranged from 20 to 24 years, 86% were classified as low income, 54% fit the designation of first generation, and 12% earned dual credit (university credit during secondary school). Our data demonstrate a positive relationship between dual credit and success, with the strongest correlation (0.62) noted for students in pathopharmacology. In the baccalaureate-nursing plan of study, courses thought to enhance students' quantitative reasoning skills remain difficult for some to successfully complete. We conclude that the more successful students tend to be older, have a higher income, and a higher high school grade point average, while those less successful are directly out of high
Laércio Baptista da Silva
Full Text Available This study presents an analysis of the reality of credit unions in Brazil, in view of the singular importance of credit unions for the whole society as an alternative to private resources in favor of members of the community where they are located. It confirms that, in Brazil, the mutual credit unions, besides being presented as one of the viable options within the financial system, are also seen as an alternative by which some sectors of society promote the humanization of the financial system by offering credit and return on capital with fairer interest rates.
Sallmen Smith, L.J.
From 1978 to 1985, the U.S. Federal government used income tax credits to induce taxpayers to purchase residential solar energy devices. These credits resulted in a significant number of households installing solar devices during the credit period but subsequently devastated the solar industry. Numerous structural problems with the credits and the failure to address important issues in the legislation led to this result. (Author)
Cheng, X.; Degryse, H.A.
We provide the first evidence on how the introduction of information sharing via a public credit registry affects banks’ lending decisions. We employ a unique dataset containing detailed information on credit card applications and decisions from one of the leading banks in China. While we do not
Data catalog series for space science and applications flight missions. Volume 5A: Descriptions of astronomy, astrophysics, and solar physics spacecraft and investigations. Volume 5B: Descriptions of data sets from astronomy, astrophysics, and solar physics spacecraft and investigations
Kim, Sang J. (Editor)
The main purpose of the data catalog series is to provide descriptive references to data generated by space science flight missions. The data sets described include all of the actual holdings of the Space Science Data Center (NSSDC), all data sets for which direct contact information is available, and some data collections held and serviced by foreign investigators, NASA and other U.S. government agencies. This volume contains narrative descriptions of data sets of astronomy, astrophysics, solar physics spacecraft and investigations. The following spacecraft series are included: Mariner, Pioneer, Pioneer Venus, Venera, Viking, Voyager, and Helios. Separate indexes to the planetary and interplanetary missions are also provided.
... 49 Transportation 6 2010-10-01 2010-10-01 false Conditions for trading of credits. 536.8 Section... SAFETY ADMINISTRATION, DEPARTMENT OF TRANSPORTATION TRANSFER AND TRADING OF FUEL ECONOMY CREDITS § 536.8 Conditions for trading of credits. (a) Trading of credits. If a credit holder wishes to trade credits to...
... investment tax credits. 256.255 Section 256.255 Commodity and Securities Exchanges SECURITIES AND EXCHANGE... investment tax credits. (a) This account shall be credited and account 411.5, Investment tax credit, debited with investment tax credits deferred by companies which do not apply such credits as a reduction of the...
Mukid, M. A.; Widiharih, T.; Rusgiyono, A.; Prahutama, A.
Credit scoring is a quatitative method to evaluate the credit risk of loan applications. Both statistical methods and artificial intelligence are often used by credit analysts to help them decide whether the applicants are worthy of credit. These methods aim to predict future behavior in terms of credit risk based on past experience of customers with similar characteristics. This paper reviews the weighted k nearest neighbor (WKNN) method for credit assessment by considering the use of some kernels. We use credit data from a private bank in Indonesia. The result shows that the Gaussian kernel and rectangular kernel have a better performance based on the value of percentage corrected classified whose value is 82.4% respectively.
Denise Maria Martins
Full Text Available Abstract This article aims to analyze the level of influence of trust, commitment, cooperation, and power in the interrelationships of individual credit cooperatives and their central organization in Brazil. The quantitative and descriptive research was developed in unique credit unions linked to the Central Bank of Brazil and the Organization of Brazilian Cooperatives. The data were analyzed using structural equation modeling, with the estimation through partial least squares. The results obtained for the coefficients of determination (R2 of the endogenous latent variables confirmed the assumptions found in the theoretical models of Morgan and Hunt (1994 and Coote, Forrest, and Tam (2003. Statistical significance was also found in the relationships between power and trust, commitment and cooperation, trust and commitment, trust and cooperation, and power and commitment. However, in this study the relationship between power and commitment characterized the significance and was positive between the individual credit cooperatives and their central organization. This is in line with the understanding that power is the solution to resolving conflicts. The research identifies how the constructs of trust, commitment, cooperation, and power show relevance to the alignment of relations between individual credit cooperatives and their central organization.
Barasinska, Nataliya; Schäfer, Dorothea
Business owners and founders are a minority of any bank's business clients. Scientific studies of traditional credit markets often show a lower probability of loan approval or higher loan costs for female business owners compared to male business owners. With this background the question arises whether female business owners have to struggle with this problem less on Internet credit markets. In this current study, DIW Berlin investigated business loans on the largest German Internet platform,...
Byiers, Bruce; Rand, John; Tarp, Finn
This paper uses two industrial firm surveys to identify the key determinants of credit demand in Mozambican manufacturing. We construct five different measures of being credit constrained and estimate desired debt demand. Besides firm size and ownership structure, we find evidence that general...
Saragiotto, Bruno T; Costa, Lucíola C M; Oliveira, Ronaldo F; Lopes, Alexandre D; Moseley, Anne M; Costa, Leonardo O P
While the research design of articles published in medical journals and in some physical therapy journals has already been evaluated, this has not been investigated in Brazilian physical therapy journals. Objective : To describe the research design used in all articles published in Brazilian scientific journals that are freely available, have high Qualis rankings, and are relevant to physical therapy over a 7-year period. We extracted the bibliometric data, research design, research type (human or animal), and clinical area for all articles published. The articles were grouped into their level of evidence, and descriptive analyses were performed. We calculated the frequency, proportions of articles, and 95% confidence interval of these proportions with each research design in each journal. We cross-tabulated the clinical areas with research designs (expressed as number and percentages). A total of 1,458 articles from four Brazilian journals were found: Revista Brasileira de Fisioterapia, Revista Fisioterapia em Movimento, Revista Fisioterapia e Pesquisa, and Revista Acta Fisiátrica. The majority of articles were classified as level II of evidence (60%), followed by level III (29%) and level I (10%). The most prevalent research designs were cross-sectional studies (38%), single-case or case-series studies, and narrative reviews. Most articles reported human research and were in the musculoskeletal, neurologic, and cardiothoracic areas. Most of the research published in Brazilian physical therapy journals used levels II and III of evidence. Increasing the publication rate of systematic reviews and randomized controlled trials would provide more high-quality evidence to guide evidence-based physical therapy practice.
Credit scoring is one of the key analytical techniques in credit risk evaluation which has been an active research area in financial risk management. This paper presents a credit risk evaluation system that uses a neural network model based on the back propagation learning algorithm. We train and implement the neural network to decide whether to approve or reject a credit application, using seven learning schemes and real world credit applications from the Australian credit approval datasets. A comparison of the system performance under the different learning schemes is provided, furthermore, we compare the performance of two neural networks; with one and two hidden layers following the ideal learning scheme. Experimental results suggest that neural networks can be effectively used in automatic processing of credit applications.
... inadvertently included particular investments that did not--when subject to the other credit risk and asset... NATIONAL CREDIT UNION ADMINISTRATION 12 CFR Part 707 RIN 3133-AD58 Corporate Credit Unions, Technical Corrections AGENCY: National Credit Union Administration (NCUA). ACTION: Final rule. SUMMARY: In...
Lancaster, D.B.; Fuentes, E.; Kang, C.
The Topical Report on Actinide-Only Burnup Credit for Pressurized Water Reactor Spent Nuclear Fuel Packages requires computer code validation to be performed against a benchmark set of chemical assays for isotopic concentration and against a benchmark set of critical experiments for package criticality. Both sets contain all the isotopes included in the methodology. The chemical assays used include the uranium and plutonium isotopes, while the critical experiments were composed of UO 2 or MOX rods, covering the isotopes in the actinide only approach. Since other isotopes are not included in the validation benchmark sets, it would be necessary to justify both the content and worth of any additional isotope for which burnup credit is to be taken (i.e., both the concentration and criticality effect of each particular isotope must be validated). A method is proposed here that can be used for any number of additional isotopes. As does the actinide-only burnup credit methodology, this method makes use of chemical assay data to establish the conservatism in the prediction of each isotope's concentration. Criticality validation is also performed using a benchmark set of UO 2 and MOX critical experiments, where the additional isotopes are validated using worth experiments to conservatively account for any uncertainty in their cross sections. The remaining requirements (analysis and modeling parameters, loading criteria generation, and physical implementation and controls) are performed exactly as described in the actinide-only burnup credit methodology. This report provides insight into each particular requirement in the new methodology
R. Raymond Sant
Full Text Available In this paper we study acquired credit unions and analyze their financial performance up to six years prior to merger, on a quarterly basis. The primary focus is on balance sheet (asset liability management and profitability variables (return on assets. We find that acquired credit unions during the period 2008 (third quarter to 2014 (first quarter experienced negative return on assets for several quarters prior to their takeover. This was the result of a declining loan portfolio and increasing charge offs. In spite of decreasing lending activity, such credit unions continued to increase their deposits, i.e., adding to their cost base. Due to declining loans, their net interest margin as a proportion of deposits was also in decline. We argue that this is an indicator of poor management ability. Furthermore, our analysis finds that operating expenses were increasing over time, something that has been documented in previous literature also for smaller credit unions and is attributable to lack of economies of scale. The average asset size of the acquired credit unions in our sample is about $22 million just before acquisition. We attribute our findings to poor business strategy followed by such credit unions. We also conclude that signs of trouble are evident up to two years before merger on average and regulatory policy may have to become more proactive to manage the consolidation challenge faced by the credit union industry in general.
Pinto, M B; Parente, D H; Palmer, T S
Much has been written in the popular press on credit card use and spending patterns of American college students. The proliferation of credit cards and their ease of acquisition ensure that students today have more opportunities for making more credit purchases than any other generation of college students. Little is known about the relationship between students' attitudes towards materialism and their use of credit cards. A study was conducted at three college campuses in the northeastern part of the United States where a total of 1,022 students were surveyed. Students' attitudes toward use of credit and their credit card balances were evaluated relative to their scores on Richins and Dawson's Materialism Scale (1992). Our findings suggest no significant difference between those individuals scoring high versus low on the Materialism Scale in terms of the number of credit cards owned and the average balance owed. Individuals high on materialism, however, significantly differed in terms of their uses for credit cards and their general attitude toward their use.
Daniel S. Katz
Full Text Available Science and engineering research increasingly relies on activities that facilitate research but are not currently rewarded or recognized, such as: data sharing; developing common data resources, software and methodologies; and annotating data and publications. To promote and advance these activities, we must develop mechanisms for assigning credit, facilitate the appropriate attribution of research outcomes, devise incentives for activities that facilitate research, and allocate funds to maximize return on investment. In this article, we focus on addressing the issue of assigning credit for both direct and indirect contributions, specifically by using JSON-LD to implement a prototype transitive credit system.
..., membership, term, amount, loan security, and stock or participation certificate requirements of the... Section 614.4040 Banks and Banking FARM CREDIT ADMINISTRATION FARM CREDIT SYSTEM LOAN POLICIES AND OPERATIONS Lending Authorities § 614.4040 Production credit associations. (a) Loan terms. (1) Production...
The Texas Air Control Board has begun to develop a system of emission reduction credit training. The system will be developed incrementally over time. The first step, banking of VOC and NO x Emission Reduction Credits, began March 15, 1993. Additional programs under study and development include NO x RACT trading, emission credits for motor vehicle scrappage and alternative fuel conversion, and establishment of community organizations to generate and acquire emission reduction credits for economic development purposes
Widiharih, T.; Mukid, M. A.; Mustafid
Credit scoring model is an important tool for reducing the risk of wrong decisions when granting credit facilities to applicants. This paper investigate the performance of kernel discriminant model in assessing customer credit risk. Kernel discriminant analysis is a non- parametric method which means that it does not require any assumptions about the probability distribution of the input. The main ingredient is a kernel that allows an efficient computation of Fisher discriminant. We use several kernel such as normal, epanechnikov, biweight, and triweight. The models accuracy was compared each other using data from a financial institution in Indonesia. The results show that kernel discriminant can be an alternative method that can be used to determine who is eligible for a credit loan. In the data we use, it shows that a normal kernel is relevant to be selected for credit scoring using kernel discriminant model. Sensitivity and specificity reach to 0.5556 and 0.5488 respectively.
Full Text Available The impact of the financial crisis has demonstrated the fragility of the banking sector and the need to implement new technologies that would allow not only insurance against the most important credit risk - credit risk, but development of lending segment. In such conditions, transfer of credit risk is an efficient and actual way to diversify the banks exposure for credit risk by the presence of those who are willing to take on some of this risk. Taking of credit risk can be achieved through credit derivatives, securitization and sale of loans, being selected the most advantageous technique for the bank. The current situation of the national banking sector requires solving the problem of bad loans, which, unfortunately, are increasing, by implementing new techniques for credit risk management according with EU directives.
Friis Pedersen, Michael; Vesterlund Olsen, Jakob
have important implications for risk management practice, investment and technology adoption and related policy issues. The method is limited by the possibility of strategic behavior of lenders during credit cycle busts. In credit cycle booms, the method gives a good basis for the estimates of change...... in credit reserves. Practical implications: In a period of increasing credit reserves, risk management institutions are unlikely to develop. Like agricultural policy, access to credit may crowd out market-based risk management. Originality/value: The study represents a novel application and interpretation......Purpose:The purpose of this paper is to introduce a novel measure of access to credit suited to estimate the relative change in credit reserves. Design/methodology/approach: A debt possibility frontier is estimated using data envelopment analysis and the Malmquist index is calculated. The Malmquist...
Congress passed legislation last week that would shield students and other consumers from sudden spikes in interest rates and fees, but that could make it harder for young people to access credit to pay for college. The legislation would extend broad new consumer protections to all credit-card holders, offering special protections to college…
Full Text Available Background: The aim of this paper is to assess whether basic descriptive statistics is sufficient to interpret the data on physical activity of Poles within occupational domain of life. Material and Methods: The study group consisted of 964 randomly selected Polish working professionals. The long version of the International Physical Activity Questionnaire (IPAQ was used. Descriptive statistics included characteristics of variables using: mean (M, median (Me, maximal and minimal values (max–min., standard deviation (SD and percentile values. Statistical inference was based on the comparison of variables with the significance level of 0.05 (Kruskal-Wallis and Pearson’s Chi2 tests. Results: Occupational physical activity (OPA was declared by 46.4% of respondents (vigorous – 23.5%, moderate – 30.2%, walking – 39.5%. The total OPA amounted to 2751.1 MET-min/week (Metabolic Equivalent of Task with very high standard deviation (SD = 5302.8 and max = 35 511 MET-min/week. It concerned different types of activities. Approximately 10% (90th percentile overstated the average. However, there was no significant difference depended on the character of the profession, or the type of activity. The average time of sitting was 256 min/day. As many as 39% of the respondents met the World Health Organization standards only due to OPA (42.5% of white-collar workers, 38% of administrative and technical employees and only 37.9% of physical workers. Conclusions: In the data analysis it is necessary to define quantiles to provide a fuller picture of the distributions of OPA in MET-min/week. It is also crucial to update the guidelines for data processing and analysis of long version of IPAQ. It seems that 16 h of activity/day is not a sufficient criterion for excluding the results from further analysis. Med Pr 2014;65(6:743–753
Kovalko, N. M.
The article discusses the problematic aspects of credit ratings and ranking. The economic and legal aspects of ranking relations are addressed. It is concluded that a low credit standing of Ukraine is a sign of our country’s low debt sustainability.It is proved that both for Ukraine and for economically developed countries, the issue of credit ratings is quite important, and at times problematic. The issue is related to the development of the national and international financial credit resour...
Christoffersen, Peter; Du, Du; Elkamhi, Redouane
calibrated to the real economy can simultaneously explain several key empirical regularities in equity, credit, and options markets. Our model captures the empirical level and volatility of credit spreads, generates a flexible credit risk term structure, and provides a good fit to a century of observed...
... 40 Protection of Environment 32 2010-07-01 2010-07-01 false Banking emission credits. 1033.715... CONTROLS CONTROL OF EMISSIONS FROM LOCOMOTIVES Averaging, Banking, and Trading for Certification § 1033.715 Banking emission credits. (a) Banking is the retention of emission credits by the manufacturer...
... 25 Indians 1 2010-04-01 2010-04-01 false Credit at trader's risk. 140.23 Section 140.23 Indians....23 Credit at trader's risk. Credit given Indians will be at the trader's own risk, as no assistance... accept pawns or pledges of personal property by Indians to obtain credit or loans. ...
Full Text Available This study seeks to examine the impact of Block Ownership structure on Credit Ratings in OECD countries. This research seeks to contribute to the extant literature by exploring the effects of Corporate Governance (CG mechanisms on corporate credit ratings. The study uses a panel data of 200 companies from Anglo American and European countries between 2010 and 2014. The ordinary least square regression is used to examine the relationships. Additionally, to alleviate the concern of potential endogeneity, we use fixed effect regression, two-stage least squares using instrumental variables. The results show there is a negative and significant relationship between block ownership and credit ratings, with a greater significance among Anglo American countries than among European countries. The rationale for this is that Anglo-American system gives preferential treatment to individual shareholders and its accounting tradition leads to a decline in risk and increase in credit ratings. The result is consistent with the multi-theoretical framework predictions derived from the agency and stewardship theories. Future research could investigate credit ratings using other credit rating agencies, selecting a larger sample that includes small, mid-size and large companies. This paper extends, as well as contributes to extant CG literature by offering new evidence on the effect of block ownership on credit ratings between two different traditions. This will be explored by employing firm-level CG mechanisms by accounting for control variables. The findings will help regulators and policymakers in OECD countries in evaluating the adequacy of current CG reforms to prevent management misconduct and scandals.
Cristian Baú Dal Magro
Full Text Available Purpose – Red flags are mechanisms that can be used by internal auditors for early detection of possible fraud. In this context, the aim of this study was to identify the relevance credit unions’ internal auditors attribute to red flags in assessing fraud risk. Design/methodology/approach – This article is characterized as descriptive concerning its goals, as a survey as to is procedures, and as quantitative in reference to its approach to the problem. The sample onsists of 51 internal auditors working in Credit Union Centers in southern Brazil. Findings – Results indicate that, in the assessment of fraud risk, internal auditors attribute greater importance to red flags referring to operational activities and internal control procedures. In addition, it is suggested that internal auditors are not impartial concerning their perception of relevance of most of the warning signs of the possibility of fraud. Originality/value – The findings contribute by demonstrating to internal auditors the need for greater attention to the use of red flags as auditing tools.
...) of this chapter, for the export (including the cost of freight) of agricultural commodities or... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Agricultural credit banks. 614.4010 Section 614.4010 Banks and Banking FARM CREDIT ADMINISTRATION FARM CREDIT SYSTEM LOAN POLICIES AND OPERATIONS...
Mirjana Pejić Bach
Full Text Available Credit cards have become one of the major ways for conducting cashless transactions. However, they have a long term impact on the well being of their owner through the debt generated by credit card usage. Credit card issuers approve high credit limits to credit card owners, thereby influencing their credit burden. A system dynamics model has been used to model behavior of a credit card owner in different scenarios according to the size of a credit limit. Experiments with the model demonstrated that a higher credit limit approved on the credit card decreases the budget available for spending in the long run. This is a contribution toward the evaluation of action for credit limit control based on their consequences.
Androulaki, Elli; Bellovin, Steven
Credit cards have many important benefits; however, these same benefits often carry with them many privacy concerns. In particular, the need for users to be able to monitor their own transactions, as well as bank’s need to justify its payment requests from cardholders, entitle the latter to maintain a detailed log of all transactions its credit card customers were involved in. A bank can thus build a profile of each cardholder even without the latter’s consent. In this paper, we present a practical and accountable anonymous credit system based on ecash, with a privacy preserving mechanism for error correction and expense-reporting.
Augenblick, John; McGuire, Kent
Approaches for using the federal income tax system to aid families of pupils attending private schools include: tax credits, tax deductions, tax deferrals, and education savings incentives. Tax credit structures can be made refundable and made sensitive to taxpayers' income levels, the level of education expenditures, and designated costs.…
Reilly, K.; Getty, C.; Knief, R.
The Program on Non-Collegiate Sponsored Instruction (PONSI) and similar organizations may be of considerable help to the industry to the extent that college credit can be awarded for certain activities in reactor site training programs. The credit recommendations generally may be used at local colleges. They also may be applied (along with credit for college-level activities such as correspondence and on-campus courses, proficiency testing, and other evaluations) to degrees granted by the Regent's External Degree Program (REX) and other organizations. This paper describes the principle features of the PONSI and REX programs. PONSI's first credit evaluation at a nuclear plant - Consolidated Edison's Indian Point 2 - is summarized. Recent proposals for an explicit nuclear degree through REX are also described briefly
Mauricio Palmada Fernandes
Full Text Available Given the growth of securitization through Credit Receivables Investment Funds (Fundos de Investimento em Direitos Creditórios - FIDCs in Brazil in recent years, this work aims to investigate empirically the relationship between securitization and credit rating in the Brazilian market. All issues of FIDCs held by banks and registered in the CVM from 2005 to July 2010 were analyzed. The two hypotheses discussed by Gorton and Souleles (2005 were confirmed to Brazilian financial institutions. There is evidence of an implied contract between the transferor companies and investors in securitizations made via FIDCs. Companies with higher credit risk, worst ratings, tend to securitize more. However no relationship was found between securitization and asset value, amount of loans or capital ratio.
Mangasa Augustinus Sipahutar
Effect of credit on economic growth, unemployment and poverty provides evidence from Indonesia on the role of banks credit for promoting economic growth and reducing both unemployment and poverty. To document the link between banks credit and economic growth, we estimate a VAR model and variance decompositions of annual GDP per capita growth rates to examine what proxy measures of banks credit are most important in accounting for economic growth over time and how much they contribute to explaining economic growth. We also estimate an ECM to document the relationship between banks credit to both unemployment and poverty. This paper revealed bi-direction causality between banks credit and economic growth. Banks credit promotes economic growth and economic growth affects credit depth and financial development. Furthermore, banks credit is a growth accelerating factor on Indonesian economic growth. Banks credit is an endogenous growth and a good predictor on Indonesian economy. Our estimation model explained that credit allocated by banks increases business escalation to the real sectors then promotes economic growth, decreases unemployment rate through increasing in labor demanded, increases income and then decrease poverty. This overall transmission mechanism just occurred through presence of banks credit by increasing money supply to the real sectors, promotes growth and social welfare. Keywords : banks credit, economic growth, growth accelerating factor, poverty, unemployment JEL Classification : E51, E52, E58
... 49 Transportation 4 2010-10-01 2010-10-01 false Credit risk premium. 260.15 Section 260.15... REHABILITATION AND IMPROVEMENT FINANCING PROGRAM Overview § 260.15 Credit risk premium. (a) Where available... pay to the Administrator a Credit Risk Premium adequate to cover that portion of the subsidy cost not...
Hochguertel, S.; Alessie, R.; Weber, G.
In this paper we analyse unique data on credit applications received by the leading provider of consumer credit in Italy (Findomestic). The data set covers a five-year period (1995-1999) during which the consumer credit market rapidly expanded in Italy and a new law (the usury law) came into force
Nelson, Melissa C; Lust, Katherine; Story, Mary; Ehlinger, Ed
To examine cross-sectional associations between credit card debt, stress, and health risk behaviors among college students, focusing particularly on weight-related behaviors. Random-sample, mailed survey. Undergraduate and graduate students (n = 3206) attending a large public university. Self-reported health indicators (e.g., weight, height, physical activity, diet, weight control, stress, credit card debt). More than 23% of students reported credit card debt > or = $1000. Using Poisson regression to predict relative risks (RR) of health behaviors, debt of at least $1000 was associated with nearly every risk indicator tested, including overweight/obesity, insufficient physical activity, excess television viewing, infrequent breakfast consumption, fast food consumption, unhealthy weight control, body dissatisfaction, binge drinking, substance use, and violence. For example, adjusted RR [ARR] ranged from 1.09 (95% Confidence interval [CI]: 1.02-1.17) for insufficient vigorous activity to 2.17 (CI: 0.68-2.82) for using drugs other than marijuana in the past 30 days. Poor stress management was also a robust indicator of health risk. University student lifestyles may be characterized by a variety of coexisting risk factors. These findings indicate that both debt and stress were associated with wide-ranging adverse health indicators. Intervention strategies targeting at-risk student populations need to be tailored to work within the context of the many challenges of college life, which may serve as barriers to healthy lifestyles. Increased health promotion efforts targeting stress, financial management, and weight-related health behaviors may be needed to enhance wellness among young adults.
Israel, Salomon; Caspi, Avshalom; Belsky, Daniel W; Harrington, HonaLee; Hogan, Sean; Houts, Renate; Ramrakha, Sandhya; Sanders, Seth; Poulton, Richie; Moffitt, Terrie E
Credit scores are the most widely used instruments to assess whether or not a person is a financial risk. Credit scoring has been so successful that it has expanded beyond lending and into our everyday lives, even to inform how insurers evaluate our health. The pervasive application of credit scoring has outpaced knowledge about why credit scores are such useful indicators of individual behavior. Here we test if the same factors that lead to poor credit scores also lead to poor health. Following the Dunedin (New Zealand) Longitudinal Study cohort of 1,037 study members, we examined the association between credit scores and cardiovascular disease risk and the underlying factors that account for this association. We find that credit scores are negatively correlated with cardiovascular disease risk. Variation in household income was not sufficient to account for this association. Rather, individual differences in human capital factors—educational attainment, cognitive ability, and self-control—predicted both credit scores and cardiovascular disease risk and accounted for ∼45% of the correlation between credit scores and cardiovascular disease risk. Tracing human capital factors back to their childhood antecedents revealed that the characteristic attitudes, behaviors, and competencies children develop in their first decade of life account for a significant portion (∼22%) of the link between credit scores and cardiovascular disease risk at midlife. We discuss the implications of these findings for policy debates about data privacy, financial literacy, and early childhood interventions.
Full Text Available The results of a bank’s activities depend to a significant extent on the quality of the credit portfolio that it holds, as well as on the credit tracking and control system. The purpose and functioning of such inter-banking systems differs from one bank to another. Loans require an increasingly efficient type of internal surveillance of activity. Following the clients’ behavior and performances, as well as their entire activity is a particularly important phase and absolutely necessary in the course of a loan. The purpose of this activity is, generally, that of identifying, as early as possible, of clues about any problems that may appear during the course of the loan, so as to make possible, as early as can be, the taking of remedial measures with a view to anticipate the deterioration of the loan’s debt. An open communication between the bank and the loan’s beneficiary is an essential condition for an efficient tracking program. Another basic element is the rigorous and complete filling out of the credit papers. The credit files are the backbone of the of the loan monitoring process because these contain all of the documents which may offer to the credit officer, accounting expert, as well as other interested parties a permanent, chronological record of the loan relation.
Mei, He; Turale, Sue
In this qualitative, descriptive study, we explored the perspectives of older, community-dwelling Chinese people regarding their experiences of coping with a physical disability and their health concerns. Twenty participants were interviewed in-depth, and data were analyzed using content analysis. Five themes with 13 subthemes emerged that described older people's experiences of coping with health concerns and disability: (i) ignoring health concerns; (ii) managing self; (iii) seeking medical help; (iv) living with physical disability; and (v) relying on limited resources. Most participants did not have sufficient access to health services due to physical disability and financial deficits, so they tended to ignore their health conditions or tackle them independently before seeking medical help. At the same time, they were impacted on by social and cultural factors. Policies are required that offer more resources to community-dwelling people with disabilities in China. © 2017 John Wiley & Sons Australia, Ltd.
Full Text Available By examining the relationship between private credit growth and the possibility of credit risk while focusing on international capital in 21 countries over the period 2000:1Q-2015:2Q, this paper shows that the impact of private credit growth on credit risk is apparent under the high ratio of capital inflows, and its impact on credit risk in the seven Asian countries is even stronger. And the possibility of credit risk caused by private credit is mainly coming from portfolio inflows rather than direct inflows. Finally, portfolio inflows strengthen the positive relationship between credit excess and credit risk in Asian countries, and this trend is seen more in these after the global financial crisis. Taken together, the stronger positive relationship between credit excess and credit risk can be strengthen under the massive portfolio inflows in particular in the seven Asian countries such as Hong Kong, India, Indonesia, Korea, Malaysia, Singapore, and Thailand.
have the negative effect of stifling the growth of potential firms, thereby .... credit market may explain the credit rationing behaviour of banks to ... derive policy implications to enhance access to bank credit by SMEs. 4. ..... The main challenges to SMEs identified by the study were non-payment of outstanding ... This decision is.
J.F. Slijkerman; D.J.C. Smant (David); C.G. de Vries (Casper)
textabstractBanks provide risky loans to firms which have superior information regarding the quality of their projects. Due to asymmetric information the banks face the risk of adverse selection. Credit Value-at-Risk (CVaR) regulation counters the problem of low quality, i.e. high risk, loans and
Full Text Available The presence of different risk factors in international trade gives evidence of the necessity of support in gaps that may affect exporters’ activity. To maximize the trade volumes and in the same time to minimize the exporters’ risks the stakeholders use trade credit insurance. The paper provides analysis of conceptual background of the trade credit insurance in the world. We analyzed briefly the problems, arising in insurance markets due to asymmetric information, such as adverse selection and moral hazard. Also we discuss the main stages of development of trade credit insurance in countries worldwide. Using comparative and graphical analysis we provide a brief evaluation of the dynamics of claims and recoveries for different forms of trade credit insurance. We found that the claims related to the commercial risk for medium and long trade credits in recent years exceed the recoveries, while with the political risk the reverse trend holds. And we originally consider these findings in terms of information asymmetry in the trade credit insurance differentiated by type of risk.
... Flexible and Compressed Work Schedules § 610.408 Use of credit hours. Members of the Senior Executive Service (SES) may not accumulate credit hours under an alternative work schedule. Any credit hours...
Full Text Available The subject of research presented in this paper refers to the definition of methodology for the development of credit analysis in companies and its application in lending operations in the Republic of Serbia. With the developing credit market, there is a growing need for a well-developed risk and loss prevention system. In the introduction the process of bank analysis of the loan applicant is presented in order to minimize and manage the credit risk. By examining the subject matter, the process of processing the credit application is described, the procedure of analyzing the financial statements in order to get an insight into the borrower's creditworthiness. In the second part of the paper, the theoretical and methodological framework is presented applied in the concrete company. In the third part, models are presented which banks should use to protect against exposure to risks, i.e. their goal is to reduce losses on loan operations in our country, as well as to adjust to market conditions in an optimal way.
Full Text Available The Global Financial Crisis, which affected various banks, some of them very important banks, highlighted the importance of an accurate credit risk measurement in order to be able to overcome it. There are a variety of such credit risk measurement models, so we can say that banks face a real dilemma when having to choose the most appropriate one. The aim of this paper is to examine the most popular methods used to measure the credit risk and to identify the strengths and the weaknesses of each one of it. The research was accomplished from a double perspective, in which the conceptual methodological approach is correlated to a variety of references to practical actions aiming the measurement and the prevention of credit risk. The study includes the presentation of the objectives of credit risk analysis, the most appropriate moments for doing such an analysis, the steps that have to be done in order to measure the credit risk, the errors that can overcome in the credit risk measurement system, generated by the misclassifications of the studied company, and the presentation of the specific information of financial creditors. The findings expressed in this paper were mainly the result of a qualitative analysis which showed that there is no best model for credit risk measurement, each one having both strengths and weaknesses, some providing a comprehensive analysis of the individual customer’s financial strength others allowing banks permanently monitor fluctuating default risk and identify the possibly problems at an early stage.
Rolfe, C.; Michaelowa, A.; Dutschke, M.
Credit for early action as a tool for greenhouse gas emissions reduction is compared with various market instruments as a means of narrowing the gap between projected emissions and those of the Kyoto Protocol. Market instruments work by creating a market price for emissions and use the market to encourage reductions at the lowest price, which is done by placing limits on greenhouse gas emissions and allowing the market to decide where reductions occur, or by imposing a carbon tax or emissions charge. While they can be applied within a sector, they are usually used to encourage reductions throughout the economy or across large sectors. Credit for early action also creates an incentive for emissions reductions throughout the economy or at least across many sectors. Credit for early action tools do not work by either imposing a carbon tax or emissions charge or placing limits on emissions, rather they promise that entities that take action against greenhouse gases prior to the imposition of a carbon tax or emissions limits will receive a credit against future taxes or limits. An overview is provided of the Kyoto Protocol and the rationale for taking early action, and a review is included of the theory and specific proposals for market instruments and credit for early action. A comparative analysis is provided of these approaches by examining their relative efficiency, environmental effectiveness, and impacts on the redistribution of wealth. Credit for early action is viewed as problematic on a number of counts and is seen as an interim strategy for imposition while political support for market instruments develop. The environmental effectiveness of credit for early action is very difficult to predict, and credit for early action programs do not yield the lowest cost emissions reductions. Credit for early action programs will not achieve compliance with the Kyoto Protocol at the lowest cost, and credits for early action will increase the compliance costs for those who
The manual, intended for use by adults and not in the high school classroom situation, presents material directed toward assisting in the reduction of credit card crime. This teaching guide is organized in three sections which deal with the nature of and major reasons for credit card fraud, the types of hot card runners, and methods of reducing…
He, Jianmin; Sui, Xin; Li, Shouwei
In this paper, an endogenous credit network model of firm-bank agents is constructed. The model describes the endogenous formation of firm-firm, firm-bank and bank-bank credit relationships. By means of simulations, the model is capable of showing some obvious similarities with empirical evidence found by other scholars: the upper-tail of firm size distribution can be well fitted with a power-law; the bank size distribution can be lognormally distributed with a power-law tail; the bank in-degrees of the interbank credit network as well as the firm-bank credit network fall into two-power-law distributions.
Daniel R. Sanches
The author studies the terms of credit in a competitive market in which sellers (lenders) are willing to repeatedly finance the purchases of buyers (borrowers) by engaging in a credit relationship. The key frictions are: (i) the lender is unable to observe the borrower's ability to repay a loan; (ii) the borrower cannot commit to any long-term contract; (iii) it is costly for the lender to contact a borrower and to walk away from a contract; and (iv) transactions within each credit relationsh...
Full Text Available Purpose of the article: The paper identifies the core dilemmas over the establishment of the credit policy in a company. It considers the general scope and basic stages of credit policy management and analyses each stage of credit policy in terms of decisive aspects. The main areas of concerns are discussed within the settlement of credit policy and its implementation with regard to the model of optimal credit policy. Scientific aim: The paper aims at constructing a unified model of issues rising dilemmas while setting and implementing the credit policy management. It also aims at identifying core decisive problems in each of these fields and at providing a structured questions framework. Methodology/methods: The paper is based on conceptual analysis and deduction of the literature and general review of issues related to credit policy management. It containts autors’ own view on the problems included in each stage of credit policy management. Findings: Credit policy management is a subject for numerous dilemmas. The main areas of concerns are related to: the decision about the goal of credit policy managemet with regard to its restrictiveness, the settlement of credit policy with regard to elements of credit policy, and finally the implementation with regard to the risk of bad debts occurrence. Conclusions: (limits, implications etc The establishment of credit policy in a company requires to balance contrary interests and thus involves wide variety of issues to be considered. The presented model of decisive problems might be applied in each company regardless to their size.
Full Text Available Measuring different risk factors such as credit risk in banking industry has been an interesting area of studies. The artificial neural network is a nonparametric method developed to succeed for measuring credit risk and this method is applied to measure the credit risk. This research’s neural network follows back propagation paradigm, which enables it to use historical data for predicting future values with very good out of sample fitting. Macroeconomic variables including GDP, exchange rate, inflation rate, stock price index, and M2 are used to forecast credit risk for two Iranian banks; namely Saderat and Sarmayeh over the period 2007-2011. Research data are being tested for ADF and Causality Granger tests before entering the ANN to achieve the best lag structure for the research model. MSE and R values for the developed ANN in this research respectively are 86×〖10〗^(-4 and 0.9885, respectively. The results showed that ANN was able to predict banks’ credit risk with low error. Sensibility analyses which has accomplished on this research’s ANN corroborates that M2 has the highest effect on the ANN’s credit risk and should be considered as an additional leading indicator by Iran’s banking authorities. These matters confirm validation of macroeconomic notions in Iran’s credit systematic risk.
Syed Shah ALAM; Ruzita Abdul RAHIM; Ridhwanul HAQ; Atiqur Rahman KHAN
This paper examines empirically antecedents of the credit card debts in young consumers in Malaysia. We examine whether easy access to credit card, credit card related knowledge, aggressive promotion by credit card industry, low minimum payment requirement and attitude towards credit cards influence credit card debts in the younger generation. Regression model was used to meet the objectives. These findings based on a sample of 240 young credit card holders, show that the factors that affect ...
Yang, Bijou; Lester, David
In a sample of 352 students, correlates of credit card ownership differed by sex. For both men and women, credit card ownership was predicted by their affective attitude toward credit cards. However, whereas for men concern with money as a tactic for gaining power predicted credit card ownership, for women feelings of insecurity about having sufficient money and having a conservative approach to money predicted credit card ownership.
He, Chuan; Wang, Haichao; Chen, Zhongyuan; Hao, Yuxing; Jiang, Hailong; Qian, Hanhan; Wang, Meibao
The power industry has a long history of credit problems, and the power industry has credit problems such as power users defaulting on electricity bills before the new electricity reform. With the reform of the power system, the credit problems in the power industry will be more complicated. How to effectively avoid the risk factors existing in the course of market operation and how to safeguard the fairness and standardization of market operation is an urgent problem to be solved. This paper first describes the credit risk in power market, and analyzes the components of credit risk identification in power market, puts forward suggestions on power market risk management.
@@ Introduction The current government advances that the order of market economy should be standardized and the social credit system of market economy in modern times should be established and completed. The social credit system should be formed on the basis of property right, supported by moral and high consciousness of social credit. Therefore, the basic framework and operation mechanism of the standards system for social credit will be established in 5 years in China in order to make standards play an important role in a regular market and the aspect of credit management, to improve administration's compliance with the regulation, and to facilitate the market economic order.
Disney, Richard; Gathergood, John; Weber, Jörg
Is financial literacy a substitute or complement for financial advice? In this paper we analyze the decision by consumers to seek financial advice in the form of credit counseling concerning their credit and debt. Credit counseling is an important component of the consumer credit sector for consumers facing debt problems. We combine instrumental variable approaches to account for the endogeneity of an individual’s financial situation to financial literacy, and the endogeneity of financial lit...
Barreau, Anne; Roque, Benedicte; Marimbeau, Pierre; Venard, Christophe; Bioux, Philippe; Toubon, Herve
The increase of PWR-UOX fuel initial enrichment and the extensive needs for spent fuel storage or cask capacities reinforce the interest in taking burnup credit into account in criticality calculations. However, this utilization of credit for fuel burnup requires the definition of a methodology that ensures the conservatism of calculations. In order to guarantee the conservatism of the spent fuel inventory calculation, a depletion calculation scheme for burnup credit is under development. This paper presents the studies on the main parameters which have an effect on nuclides concentration: the presence of control rods during depletion and the fuel assembly environment, particularly the presence of MOx fuels around the UO 2 assembly. Reactivity effects which are relevant to these parameters are then presented, and physics phenomena are identified. (author)
Full Text Available This essay deals with the definition of a model for assessing and managing credit risk. Risk is an inseparable component of any average and normal credit transaction. Looking at the different aspects of the identification and classification of risk in the banking industry as well as representation of the key components of modern risk management. In the first part of the essay will analyze how the impact of credit risk on bank and empirical models for determining the financial difficulties in which the company can be found. Bank on the basis of these models can reduce number of approved risk assets. In the second part, we consider models for improving credit risk with emphasis on Basel I, II and III, and the third part, we conclude that the most appropriate model and gives the best effect for measuring credit risk in domestic banks.
Pelizzon, Loriana; Subrahmanyam, Marti G.; Tomio, Davide
This paper explores the interaction between credit risk and liquidity, in the context of the intervention by the European Central Bank (ECB), during the Euro-zone crisis. The laboratory for our investigation is the Italian sovereign bond market, the largest in the Euro-zone. We use a unique data...... between changes in Italian sovereign credit risk and liquidity in the secondary bond market, conditional on the level of credit risk, measured by the Italian sovereign credit default swap (CDS) spread. We demonstrate the existence of a threshold of 500 basis points (bp) in the CDS spread, above which...... there is a structural change in this relationship. Other global systemic factors also a ffect market liquidity, but the speci c credit risk of primary dealers plays only a modest role in a ffecting market liquidity, especially under conditions of stress. Moreover, the data indicate that there is a clear structural...
... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Farm Credit System Insurance Corporation. 1400.1 Section 1400.1 Banks and Banking FARM CREDIT SYSTEM INSURANCE CORPORATION ORGANIZATION AND FUNCTIONS Organization and Functions § 1400.1 Farm Credit System Insurance Corporation. The Farm Credit...
Rahman, Ahmad Saufi Abdul
Consumer Credit is a branch of Commercial Law, which has been developing in recent years inMalaysia. The purpose of this paper is to summarize the latest amendments in the consumer credit laws inMalaysia and to highlight its significance. The discussion will be limited to the three most important laws ofconsumer credit in Malaysia: the hire-purchase, money lending and pawn broking laws.
... 20 Employees' Benefits 3 2010-04-01 2010-04-01 false Avoidance of tax credit reduction. 606.23 Section 606.23 Employees' Benefits EMPLOYMENT AND TRAINING ADMINISTRATION, DEPARTMENT OF LABOR TAX CREDITS... Tax Credit Reduction § 606.23 Avoidance of tax credit reduction. (a) Applicability. Subsection (g) of...
... 20 Employees' Benefits 3 2010-04-01 2010-04-01 false Cap on tax credit reduction. 606.20 Section 606.20 Employees' Benefits EMPLOYMENT AND TRAINING ADMINISTRATION, DEPARTMENT OF LABOR TAX CREDITS... Tax Credit Reduction § 606.20 Cap on tax credit reduction. (a) Applicability. Subsection (f) of...
Eccles, Robert G; Youmans, Timothy John
This first of three papers in our series on materiality in credit ratings will examine the materiality of credit ratings from an “implied materiality” and governance disclosure perspective. In the second paper, we will explore the materiality of environmental, social, and governance (ESG) factors in credit ratings’ methodologies and introduce the concept of “layered materiality.” In the third paper, we will evaluate current and potential credit rating agency (CRA) business models based on our...
Full Text Available In this paper we evaluate credit risk of the economy as a whole, aiming at the study of the financial stability. This analysis uses as proxy the credit granted by the banking system. We use a non-linear parametric model based on Merton's structural framework for the analysis of the risk associated to a loan portfolio. In this model, default occurs when the return of an economic agent falls under certain threshold which depends on different macroeconomic variables. We use this model to assess the credit risk module in stress tests for the local banking system. We also estimate the "elasticities" of credit categories correspondig to corporate credit and consumer credit, both in national currency and american dollars. We obtain the parameters for the model using maximum likelihood, where the likelihood function contains a random latent factor which is assumed to follow a normal distribution.
V. E. Gladkova
Full Text Available Accurate accounting of own expenses on rendering banking services and forming reasonable prices for them make it possible for commercial banks to adequately react to market situation changes. Credit risk minimization comprises: credit rationing (in Russia according to RF Central Bank norms; credit diversification; credit structuring; and forming reserves to cover respective bank risks (also in accordance with RF CB documents. Effective is bank credit hedging (insuring through credit derivatives. Most advanced at international finance markets are such risk minimization systems as Basel-II and IRBA. Pricing models based on individual assessment of each borrower’s risk class (Risk Based Pricing approach are widely used.
The current cost of making a carbon transaction was discussed with particular reference to a time-line when emissions trading will become more cost-effective and streamlined for quicker results. This paper described how companies are dealing with the risk of emissions trading in terms of pricing and the expected financial impacts of owning a new commodity. The incorporation of emissions credits and trading activities into a company's balance sheet was also described in terms of how banks will consider a company's credit when calculating their loan potential. It was noted that some credits will be valued higher than others based on their historical background. The financial impact that credits have on company assets was addressed in terms of measuring reputation management. The importance of developing a financial plan for effective management was emphasized in terms of evaluating emissions reduction projects and future options. 17 refs., 2 figs
... Foreign Tax Credit Splitting Events AGENCY: Internal Revenue Service (IRS), Treasury. ACTION: Notice of... these proposed regulations. The regulations affect taxpayers claiming foreign tax credits. Special... of the Federal Register.] Sec. 1.909-6 Pre-2011 foreign tax credit splitting events. [The text of...
Nunn, R M; Waterson, R H; Young, J D
Reactor physics experiments have been carried out at Berkeley Nuclear Laboratories during the past few years in support of the Civil Advanced Gas-Cooled Reactors (Mk. II) the Generating Board is building. These experiments are part of an overall programme whose objective is to assess the accuracy of the calculational methods used in the design and operation of these reactors. This report provides a description of the facility for the Mk. III experimental programme and the planned programme for 1971.
Lewis, F.W.; Osburn, A.S.
The U.S. Internal Revenue Service on Apr. 1, 1991, released the inflation adjustments used in the calculations of Non-Conventional Fuel Tax Credits for 1990. The inflation adjustment, 1.6730, when applied to the base price of $3/bbl of oil equivalent, adjusts the tax credit to $5.019/bbl for oil and 86.53 cents/MMBTU for gas. The conversion factor for equivalent fuels is 5.8 MMBTU/bbl. Unfortunately, the tax credit for tight formation gas continues to be unadjusted for inflation and remains 52 cents/MMBTU. As many producers are aware, the Omnibus Budget Reconciliation Act of 1990 expanded the dates of eligibility and the usage for-Non-Conventional Fuel Tax Credits. Among other provisions, eligible wells may be placed in service until Jan. 1, 1992, and once in place may utilize the credit for production through Dec. 31, 2002. Both dates are 2 year extensions from previous regulations
Nielsen, Mads Stenbo
This paper studies how corporate bond spreads vary with the business cycle. I show that both level and slope of empirical credit spread curves are correlated with the state of the economy, and I link this to variation in idiosyncratic jump risk. I develop a structural credit risk model...... that accounts for both business cycle and jump risk, and show by estimation that the model captures the counter-cyclical level and pro-cyclical slope of empirical credit spread curves. In addition, I provide a new procedure for estimation of idiosyncratic jump risk, which is consistent with observed shocks...
Spinella, Marcello; Yang, Bijou; Lester, David
Credit card use often involves a disadvantageous allocation of finances because they allow for spending beyond means and buying on impulse. Accordingly they are associated with increased bankruptcy, anxiety, stress, and health problems. Mounting evidence from functional neuroimaging and clinical studies implicates prefrontal-subcortical systems in processing financial information. This study examined the relationship of credit card debt and executive functions using the Frontal System Behavior Scale (FRSBE). After removing the influences of demographic variables (age, sex, education, and income), credit card debt was associated with the Executive Dysfunction scale, but not the Apathy or Disinhibition scales. This suggests that processes of conceptualizing and organizing finances are most relevant to credit card debt, and implicates dorsolateral prefrontal dysfunction.
... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Endorsement of credit instrument... of Fire Safety Equipment Eligible Security Instruments § 232.570 Endorsement of credit instrument. The Commissioner shall indicate his insurance of the loan by endorsing the credit instrument and...
... 26 Internal Revenue 15 2010-04-01 2010-04-01 false Additional credit against tax. 31.3302(b)-1... credit against tax. (a) In general. In addition to the credit against the tax allowable for contributions... credit allowable against the tax for such year shall be the aggregate of the additional credits allowable...
Lichtenberger, Eric; Witt, M. Allison; Blankenberger, Bob; Franklin, Doug
The use of dual credit has been expanding rapidly. Dual credit is a college course taken by a high school student for which both college and high school credit is given. Previous studies provided limited quantitative evidence that dual credit/dual enrollment is directly connected to positive student outcomes. In this study, predictive statistics…
In terms of the National Credit Act a credit provider may conclude a credit agreement with a consumer only after he has made a proper financial assessment and concludes that the consumer will be able to satisfy all of his obligations under all his credit agreements. However, a practice of not conducting this affordability ...
... provided under the laws of the state in which it was chartered. (b) A state-chartered corporate credit... 12 Banks and Banking 6 2010-01-01 2010-01-01 false State-chartered corporate credit unions. 704.17... CORPORATE CREDIT UNIONS § 704.17 State-chartered corporate credit unions. (a) This part does not expand the...
BenDor, Todd K; Guo, Tianshu; Yates, Andrew J
Ecosystem service markets are popular policy tools for ecosystem protection. Advanced credit releases are an important factor affecting the supply side of ecosystem markets. Under an advanced credit release policy, regulators give ecosystem suppliers a fraction of the total ecosystem credits generated by a restoration project before it is verified that the project actually achieves the required ecological thresholds. In spite of their prominent role in ecosystem markets, there is virtually no regulatory or research literature on the proper design of advanced credit release policies. Using U.S. aquatic ecosystem markets as an example, we develop a principal-agent model of the behavior of regulators and wetland/stream mitigation bankers to determine and explore the optimal degree of advance credit release. The model highlights the tension between regulators' desire to induce market participation, while at the same time ensuring that bankers successfully complete ecological restoration. Our findings suggest several simple guidelines for strengthening advanced credit release policy.
Doering, T.W.; Thomas, D.A.
This paper presents the burnup credit aspects of the United States Department of Energy Yucca Mountain Project's methodology for performing criticality analyses for commercial light-water-reactor fuel. The disposal burnup credit methodology uses a 'principal isotope' model, which takes credit for the reduced reactivity associated with the build-up of the primary principal actinides and fission products in irradiated fuel. Burnup credit is important to the disposal criticality analysis methodology and to the design of commercial fuel waste packages. The burnup credit methodology developed for disposal of irradiated commercial nuclear fuel can also be applied to storage and transportation of irradiated commercial nuclear fuel. For all applications a series of loading curves are developed using a best estimate methodology and depending on the application, an additional administrative safety margin may be applied. The burnup credit methodology better represents the 'true' reactivity of the irradiated fuel configuration, and hence the real safety margin, than do evaluations using the 'fresh fuel' assumption. (author)
Full Text Available Micro credit programs, which are based on lending money on interest and encouraging savings, have been first been used in Southern countries and are now being implemented worldwide. Mainly aimed at the rural poor, particularly poor women, micro credit programs seek to ensure sustainable economic development in line with the requirements of global capitalism and to include women in the productive activities of the market. Micro credit has been made institutionalized based on three main paradigms, namely financial sustainability, poverty alleviation and women’s empowerment. In micro credit programs, where the emphasis on women’s empowerment is strong, the lack of a social gender perspective is striking. In fact, women may face patriarchal pressure and restrictions at the start in access to loans, loan usage models, participation to the productive activities in the market and during loan repayment. Thus the allegation that by way of micro credit, women will be empowered in terms of economic, social and political means in the family and society becomes questionable. This article, by problematizing women’s relationship with micro credit, will discuss social gender relationships which prevent them from making use of these programs as they wish and from achieving the results they intend
Research purpose: The purpose of this empirical paper was to examine the predictive performance of credit scoring systems in Taiwan. Motivation for the study: Corporate lending remains a major business line for financial institutions. However, in light of the recent global financial crises, it has become extremely important for financial institutions to implement rigorous means of assessing clients seeking access to credit facilities. Research design, approach and method: Using a data sample of 10 349 observations drawn between 1992 and 2010, logistic regression models were utilised to examine the predictive performance of credit scoring systems. Main findings: A test of Goodness of fit demonstrated that credit scoring models that incorporated the Taiwan Corporate Credit Risk Index (TCRI, micro- and also macroeconomic variables possessed greater predictive power. This suggests that macroeconomic variables do have explanatory power for default credit risk. Practical/managerial implications: The originality in the study was that three models were developed to predict corporate firms’ defaults based on different microeconomic and macroeconomic factors such as the TCRI, asset growth rates, stock index and gross domestic product. Contribution/value-add: The study utilises different goodness of fits and receiver operator characteristics during the examination of the robustness of the predictive power of these factors.
Full Text Available This paper empirically investigates the determinants of domestic credit across a wide range of 7 countries; these are United Kingdom, Malaysia, Egypt, Kuwait, Qatar, Bahrain and Indonesia. We use dynamic panel estimation to examine effects of exchange rate, inflation, lending interest rate, banking crisis and existence of wholesale Islamic banking on domestic credit. We obtain several notable empirical results. First, the lending interest rate, banking crisis negatively and insignificantly contribute to domestic credit. The existence of Islamic bank has positive and insignificant contribution to domestic credit, while exchange rate positively and significantly contributes to domestic credit. Inflation negatively and significantly contributes to domestic credit. Second, banking crisis and existence of wholesale Islamic banking show insignificant effect on domestic credit. Third, we find that today’s domestic credit is depended on domestic credit in the previous year.DOI: 10.15408/aiq9i2.4906
... creditors disclose additional information on FCRA adverse action notices. Specifically, a person must... that a creditor obtained information from a consumer reporting agency. Consistent with section 1100F of... action would need to provide a credit score and information relating to that credit score to those...
D.G.J. Bongaerts (Dion); K.J.M. Cremers (Martijn); W.N. Goetzmann (William)
textabstractAbstract: This paper explores the role played by multiple credit rating agencies (CRAs) in the market for corporate bonds. Moody’s, S&P and Fitch operate in a competitive setting with market demand for both credit information and the certification value of a high rating. We
Wellman, Jane V.
Discusses the ways the credit hour has come to be used by public funding systems in higher education. The literature review shows that the credit hour has become a barrier to innovation and a way to create systemic inequities between institutions or sectors in resource allocation. (SLD)
This study examines the extent to which banks' credit affects economic growth in Nigeria. The data used was collected from the Central Bank of Nigeria statistical bulletin for a period of 24 years from 1990 to 2013. We used credit to the private sector, credit to the public sector and inflation to proxy commercial bank credit ...
... 26 Internal Revenue 14 2010-04-01 2010-04-01 false Credit for gift tax. 20.2012-1 Section 20.2012... TAXES ESTATE TAX; ESTATES OF DECEDENTS DYING AFTER AUGUST 16, 1954 Credits Against Tax § 20.2012-1 Credit for gift tax. (a) In general. With respect to gifts made before 1977, a credit is allowed under...
Cyrille Ferraton; David Vallat
Pierre-Joseph Proudhon’s ideas on credit and money have been considered to be not very relevant and above all unrealistic. However, they have known an uncommon posterity. They influenced Silvio Gesell who is John Maynard Keynes’s reference. This article analyses Pierre-Joseph Proudhon’s exchange bank plan. We show that Pierre- Joseph Proudhon’s ideas on credit and money are opened to criticism but require a reexamination because we can draw many lessons from them.
... Computing Credit for Investment in Certain Depreciable Property § 1.50-1 Restoration of credit. (a) In general. Section 49(a) (relating to termination of credit) does not apply to property— (1) The... new section 38 property in determining qualified investment only that portion of the basis which is...
... 49 Transportation 4 2010-10-01 2010-10-01 false Credit risk premium analysis. 260.17 Section 260... Financial Assistance § 260.17 Credit risk premium analysis. (a) When Federal appropriations are not available to cover the total subsidy cost, the Administrator will determine the Credit Risk Premium...
... Tax Credit Splitting Events AGENCY: Internal Revenue Service (IRS), Treasury. ACTION: Final and... affect taxpayers claiming foreign tax credits. The text of the temporary regulations also serves as the... that if there is a foreign tax credit splitting event with respect to a foreign income tax paid or...
... 20 Employees' Benefits 3 2010-04-01 2010-04-01 false Certification for tax credit. 601.4 Section 601.4 Employees' Benefits EMPLOYMENT AND TRAINING ADMINISTRATION, DEPARTMENT OF LABOR ADMINISTRATIVE... and Additional Tax Credit and Grant Purposes § 601.4 Certification for tax credit. (a) Within 30 days...
Awanis, Sandra; Cui, Charles Chi
Purpose â€“ Prior research suggests that payment mechanisms are imbued with cues that affect purchase evaluation and future spending behavior. Credit cards are distinguished from other payment mechanisms as they elicit greater willingness to spend, prompt weaker recollections of past credit expenses and overvaluation of available funds â€“ a phenomena the authors call as â€œcredit card effect.â€� Little is known about the individualsâ€™ differential exposure to the credit card effect. The pur...
Abstract Credit risk is by far the most important risk faced by banks, and it influences the bank profitability and its long-term operation significantly. Well management on credit risk can be a competitive advantage for banks in the competitive banking industry. Chinese banks suffer from serious financial fragility manifested by high proportions of NPLs and low capital adequacy ratios (Bonin and Huang, 2001). This dissertation examines the real credit performance of Chinese banks ba...
Hung, Chi-Hsiou D.; Banerjee, Anurag; Meng, Qingrui
Firm circumstances change but rating agencies may not make timely revisions to their\\ud ratings, increasing information asymmetry between firms and the market. We examine\\ud whether firms time the securities market before a credit rating agency publicly reveals\\ud its decision to downgrade a firm's credit rating. Using quarterly data, we show that\\ud firms adjust their financing structures before credit rating downgrades are publicly\\ud revealed. More specifically, firms on average increase t...
Risto Herrala; Rima Turk-Ariss
We investigate the complex interactions between credit constraints, political instability, and capital accumulation using a novel approach based on Kiyotaki and Moore’s (1997) theoretical framework. Drawing on a unique firm-level data set from Middle-East and North Africa (MENA), empirical findings point to a large and significant effect of credit conditions on capital accumulation and suggest that continued political unrest worsens credit constraints. The results support the view that financ...
Roč. 6, č. 3 (2017), s. 106-112 ISSN 2364-4710 Institutional support: RVO:68378122 Keywords : mortgage credit directive * consumer protection * credit intermediaries Subject RIV: AG - Legal Sciences OBOR OECD: Law https://www.kluwerlawonline.com/abstract.php?area=Journals&id=EuCML2017025
... NCUA's neutrality in the final rule and has made this change. A commenter also suggested including this..., where the net worth ratio of the merging credit union exceeds the net worth ratio of the continuing... are entitled to the net worth of a merging credit union. The NCUA Board disagrees. As discussed in the...
The paper describes burnup credit activities being conducted in the U.S. where burnup credit is either being used or being planned to be used for storage, transport, and disposal of spent nuclear fuel. Currently approved uses of burnup credit are for wet storage of PWR fuel. For dry storage of spent PWR fuel, burnup credit is used to supplement a principle of moderator exclusion. These storage applications have been pursued by the private sector. The Department of Energy (DOE) which is an organization of the U.S. Federal government is seeking approval for burnup credit for transport and disposal applications. For transport of spent fuel, regulatory review of an actinide-only PWR burnup credit method is now being conducted. A request by DOE for regulatory review of actinide and fission product burnup credit for disposal of spent BWR and PWR fuel is scheduled to occur in 1998. (author)
This paper analyzes the trade-off between financial stability and credit rationing that arises when increasing capital requirements. It extends the Stiglitz-Weiss model of credit rationing to allow for bank default. Bank capital structure then matters for lending incentives. With default and rationing endogenous, optimal capital requirements can be analyzed. Introducing bank financiers, the paper also shows that uninsured funding raises the sensitivity of rationing to capital requirements. In...
About three quarters of credit card accounts attract interest charges. In the US, credit card debt is $951.7 billion of a total of $2,539.7 billion of consumer credit. In the UK, credit card debt is £55.1 billion of £174.4 billion of consumer credit. The 2005 US Bankruptcy Abuse Prevention and Consumer Protection Act and the 2003 UK Treasury Select Committee's report require lenders to collect a minimum payment of at least the interest accrued each month. Thus people are protected from the ef...
... 26 Internal Revenue 12 2010-04-01 2010-04-01 false Consolidated tax credits. 1.1502-3 Section 1... (CONTINUED) INCOME TAXES Consolidated Tax Liability § 1.1502-3 Consolidated tax credits. (a) Determination of...) Consolidated limitation based on amount of tax. (i) Notwithstanding the amount of the consolidated credit...
... 7 Agriculture 14 2010-01-01 2009-01-01 true Full faith and credit. 1980.308 Section 1980.308...) PROGRAM REGULATIONS (CONTINUED) GENERAL Rural Housing Loans § 1980.308 Full faith and credit. The loan note guarantee constitutes an obligation supported by the full faith and credit of the United States...
Kozachyn, Karen P.
Community colleges are struggling financially due to underfunding. Recent state budget cuts coupled with the elimination of federal stimulus money has exacerbated the issue as these funding streams had contributed to operating costs (Moltz, 2011). In response to these budget cuts, community colleges are challenged to improve, increase, and develop revenue producing programs. These factors heighten the need for community colleges to examine their non-credit workforce organizations. The community college units charged with delivering non-credit workforce education and training programs are historically ancillary to the academic divisions that deliver certificate, technical degree, and transfer degree programs. The perceptions of these units are that they are the community college's 'step child' (Grubb, Bradway, and Bell, 2002). This case study examined the organization and administration of community college non-credit workforce education and training units, utilizing observation, interviews, and document analysis. Observational data focused on the physical campus and the unit. Interviews were conducted onsite with decision-making personnel of the division units that deliver non-credit workforce education and training within each community college. Document analysis included college catalogues, program guides, marketing material, and website information. The study was grounded in the review of literature associated with the evolution of the community college, as well as the development of workforce education and training including funding, organizational structure and models, management philosophies, and effectiveness. The findings of the study report that all five units were self-contained and were organized and operated uniquely within the organization. Effectiveness was measured differently by each institution. However, two common benchmarks were revenue and student evaluations. Another outcome of this study is the perceived lack of college-wide alignment between
... indicating the years the credits were generated, the identity of the refiner or importer who generated the credits, and the identity of the transferring party, if it is not the same party that generated the... corporate pool average standards under § 80.195. [65 FR 6823, Feb. 10, 2000, as amended at 67 FR 40184, June...
Letić, Milorad; Popović, Gorjana
Changes in dental education towards integration of sciences and convergence of curricula have affected instruction in physics. Earlier studies of undergraduate curricula make possible comparisons in physics instruction. For this study, the websites of 245 European dental schools were explored, and information about the curriculum was found on 213 sites. Physics instruction in the form of a separate course was found in 63 percent of these schools, with eighty-two hours and 5.9 European Credit Transfer and Accumulation System (ECTS) credits on average. Physics integrated with other subjects or into modules was found in 19 percent of these schools. Half of these schools had on average sixty-one hours and 6.9 ECTS credits devoted to physics. Eighteen percent of the schools had no noticeable obligatory physics instruction, but in half of them physics was found to be required or accepted on admission, included in other subjects, or appeared as an elective course. In 122 dental schools, the extent of physics instruction was found to be between forty and 120 contact hours. Physics instruction has been reduced by up to 14 percent in the last fourteen years in the group of eleven countries that were members of the European Union (EU) in 1997, but by approximately 30 percent in last five years in the group of ten Accession Countries to the EU.
are useful predictors of US recessions over and above the control variables both in and out of sample. Especially the excess bond premium, capturing the cyclical changes in the relationship between default risk and credit spreads, is found to be a powerful predictor. Overall, models that combine credit......We study the role of credit in forecasting US recession periods with probit models. We employ both classical recession predictors and common factors based on a large panel of financial and macroeconomic variables as control variables. Our findings suggest that a number of credit variables...
Burnup credit is currently not used for the storage of spent fuel in the reactor pools in Switzerland, but credit is taken for integral burnable absorbers. Interest exists to take credit of burnup in future for the storage in a central away-from-reactor facility presently under construction. For spent fuel transports to foreign reprocessing plants the regulations of the receiving countries must be applied in addition to the Swiss licensing criteria. Burnup credit has been applied by one Swiss PWR utility for such transports in a consistent manner with the licensing practice in the receiving countries. Measurements of reactivity worths of small spent fuel samples in a Swiss zero-power research reactor are at an early stage of planning. (author)
Somboonwong, Juraiporn; Sanguanrungsirikul, Sompol; Pitayanon, Chatchatchai
This study aimed to determine thermoregulatory and cardiovascular responses as well as the occurrence of heat illness in children exercising outdoors in physical education class under hot and humid climate. Little information regarding this issue under real-life situation is available, especially in the Southeast Asia. Analytical, prospective descriptive study. A primary school in Bangkok, Thailand. A total of 457 schoolboys (aged 5.5-12 years) were observed while exercising outdoors during their physical education classes throughout the academic year of 2009, including semester 1 (between July and September 2009) and semester 2 (between November 2009 and February 2010). Primary outcome measure was tympanic temperature. Secondary outcome measures included blood pressure, heart rate, hydration status and the occurrence of heat-related illness. Outdoor physical activity consisted of skill practice (duration 24.11±11.04 min, intensity risk for heat illness during outdoor activities in physical education class in primary school children, especially those who are overweight and have poor hydration status.
... party in the performance of an obligation. (b) As a matter of sound banking practice, banks for... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Standby letters of credit. 614.4810 Section 614.4810 Banks and Banking FARM CREDIT ADMINISTRATION FARM CREDIT SYSTEM LOAN POLICIES AND OPERATIONS Banks...
American Financial Services Association, Washington, DC. Consumer Credit Education Foundation.
Designed for first-time borrowers, this pamphlet describes the basics of credit as a part of personal financial planning. Following a self-quiz (with answers) that tests the reader's knowledge of credit, the pamphlet provides guidelines for responsible credit use and outlines steps to take if debt problems occur. Topics covered include the…
... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Credit risk capital requirement. 932.4 Section... CAPITAL STANDARDS FEDERAL HOME LOAN BANK CAPITAL REQUIREMENTS § 932.4 Credit risk capital requirement. (a) General requirement. Each Bank's credit risk capital requirement shall be equal to the sum of the Bank's...
... 17 Commodity and Securities Exchanges 3 2010-04-01 2010-04-01 false Investment tax credit. 256.411... HOLDING COMPANY ACT OF 1935 Income and Expense Accounts § 256.411.5 Investment tax credit. (a) This account shall be debited with the amounts of investment tax credits related to service company property...
... 7 Agriculture 15 2010-01-01 2010-01-01 false Full faith and credit. 3575.3 Section 3575.3... AGRICULTURE GENERAL Community Programs Guaranteed Loans § 3575.3 Full faith and credit. The Loan Note Guarantee constitutes an obligation supported by the full faith and credit of the United States and is not...
... 7 Agriculture 7 2010-01-01 2010-01-01 false Full faith and credit. 762.103 Section 762.103... AGRICULTURE SPECIAL PROGRAMS GUARANTEED FARM LOANS § 762.103 Full faith and credit. (a) Fraud and misrepresentation. The loan guarantee constitutes an obligation supported by the full faith and credit of the United...
... 7 Agriculture 12 2010-01-01 2010-01-01 false Full faith and credit. 1779.3 Section 1779.3... AGRICULTURE (CONTINUED) WATER AND WASTE DISPOSAL PROGRAMS GUARANTEED LOANS § 1779.3 Full faith and credit. The Loan Note Guarantee constitutes an obligation supported by the full faith and credit of the United...
A number of recent papers seek to distinguish between "money" and "credit" theories of the transmission of monetary disturbances using asymmetric information arguments. In credit models money causes output not only through the real interest rate but also through the availability of bank credit. The research described in this paper extends the work of Kashyap, Stein and Wilcox (1993) who construct a model that incorporates a relationship benefit to bank borrowing and then test the implications...
Lake, W.H.; Thomas, D.A.; Doering, T.W.
This report covers progress in burnup credit activities that have occurred in the United States of America (USA) since the International Atomic Energy Agency's (IAEA's) Advisory Group Meeting (AGM) on Burnup Credit was convened in October 1997. The Proceeding of the AGM were issued in April 1998 (IAEA-TECDOC-1013, April 1998). The three applications of the use of burnup credit that are discussed in this report are spent fuel storage, spent fuel transportation, and spent fuel disposal. (author)
...) to diversify, credit unions now have the opportunity to market their services to specific employee groups or industries which can reduce the overall risk to the credit unions' health or solvency...
Full Text Available Credit risk is one of the main risks faced by a bank. This kind of risk is generated by the crediting activity of the clients. To manage the credit risk, banks should identify the sources of the risk and to monitor their exposures. These activities mean a better knowledge of the existing and potential clients and their financial situations, by implementing new scoring methods. Also, to avoid the credit risk or to reduce losses, the banks could increase the value of guarantees required in regular credit activities, their periodically reassessment and the periodical analysis of the ability of customers to generate cash flows (for corporate clients and get constant income (for retail customers to provide repayment of credits. This paper aims to prevent and to analyze several measures of credit risk management and it assume that banks on the Romanian banking market and to identify some indices used for customers analysis.
Hawkes, A.D.; Leach, M.A.
This article is concerned with development of a methodology to determine the capacity credit of micro-combined heat and power (micro-CHP), and application of the method for the UK. Capacity credit is an important parameter in electricity system planning because it measures the amount of conventional generation that would be displaced by an alternative technology. Firstly, a mathematical formulation is presented. Capacity credit is then calculated for three types of micro-CHP units-Stirling engine, internal combustion engine, and fuel cell systems-operating under various control strategies. It is found that low heat-to-power ratio fuel cell technologies achieve the highest capacity credit of approximately 85% for a 1.1 GW penetration when a heat-led control strategy is applied. Higher heat-to-power ratio Stirling engine technology achieves approximately 33% capacity credit for heat-led operation. Low heat-to-power ratio technologies achieve higher capacity credit because they are able to continue operating even when heat demand is relatively low. Capacity credit diminishes as penetration of the technology increases. Overall, the high capacity credit of micro-CHP contributes to the viewpoint that the technology can help meet a number of economic and environmental energy policy aims
Bongaerts, D.; Cremers, K.J.M.; Goetzmann, W.
This paper explores the role played by multiple credit rating agencies (CRAs) in the market for corporate bonds. Moody’s, S&P and Fitch operate in a competitive setting with market demand for both credit information and the certification value of a high rating. We empirically document the outcome of
Neilson, G.H. Jr.
To accomplish the dual goals set forth in the mission statement - determination of burning plasma physics and demonstration of fusion power production - requires a tokamak with special characteristics. A conceptual design for such a facility has been developed by the CIT/BPX Project team over a period of about 5 years. The process has drawn extensively upon the world tokamak physics data base as well as engineering experience gained on actual machines like Tokamak Fusion Test Reactor (TFTR) and the Alcators and on design studies for machines like the Long-Pulse Ignited Test experiment (LITE) and the Tokamak Fusion Core Experiment (TFCX). The Joint European Torus (JET) and Doublet III-D (DIII-D) experiments in particular have had a significant influence on the physics base. The resulting design incorporates features that have proven successful in tokamak experiments, combined with new features that are needed in the regime of high-power-density deuterium-tritium (D-T) fusion plasmas
Barslund, Mikkel Christoffer; Tarp, Finn
This paper uses a survey of 932 rural households to uncover how the rural credit market operates in four provinces of Vietnam. Households obtain credit through formal and informal lenders. Formal loans are almost entirely for production and asset accumulation, while informal loans are used...... for consumption smoothening. Interest rates fell from 1997 to 2002, reflecting increased market integration. Moreover, the determinants of formal and informal credit demand are distinct. While credit rationing depends on education and credit history, in particular, regional differences in the demand for credit...
... 7 Agriculture 11 2010-01-01 2010-01-01 false Full faith and credit. 1738.31 Section 1738.31... AGRICULTURE RURAL BROADBAND ACCESS LOANS AND LOAN GUARANTEES Types of Loans § 1738.31 Full faith and credit. Loan guarantees made under this part are supported by the full faith and credit of the United States. ...
Gulliford, J.; Edge, J.A.; Gracey, J.; Harris, N.
A new criticality safety assessment based on Actinide-Only Burnup Credit has been developed to cover operations in BNFL's Thermal Oxide Reprocessing Plant (THORP). Reduction of the gadolinium concentration leads to significant reduction in active waste volumes. Detailed description of the methodology was presented at ICNC 1999 and the basic components of the approved safety case have remained unchanged from those proposed then. This paper presents a brief summary of the new methodology, and describes further analyses carried out to quantify additional safety margins. These additional margins are not credited in the derivation of the operating limits, but provide further evidence of the fault tolerance inherent in the new regime. As part of the arrangements to monitor the overall performance of the plant and instrumentation under the new regime, various analyses of plant data are made, including 'on-line' cross checks of measured versus expected fuel parameters (i.e. in addition to the checks on Residual Enrichment). Statistical analyses of data are made and compared with similar data from earlier batches. A summary of analyses made on some of the early fuel batches is presented here. A summary of the likely further development in the Burnup Credit methodology is given in this paper. (author)
Global Journal of Agricultural Sciences ... cheap interest rate polices has negative effect on credit supply while policies associated with plough ... credit was influenced mainly by the availability of credit subsidies and availability of guarantees.
Yuliya Evgenievna Klishina
Full Text Available The credit granting system of agricultural enterprises which developed now doesn’t promote development of agricultural production in spite of the facts that are accepted and are financed by the state of the development program of agrarian and industrial complex in various directions. Financial credit relations in the sphere of agrarian and industrial complex are in a stage of formation and have no system nature, in them features of agricultural production are insufficiently considered.In article the directions of development of credit support of agricultural industry, participation of the state in system of agricultural crediting are considered, offers on forming of a three-level credit granting system of agricultural industry which is urged to provide availability of credit resources to all categories of agricultural producers are made.
... discriminate in any aspect of a credit transaction on the basis of sex, race, color, religion, national origin... with questions about their credit score, even if creditors are not in a position to answer those... best position to identify the key factors that affected the score, and the creditor could rely on that...
Nakamura, L.I.; Roszbach, K.
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
I examine a production economy with a financial sector that contains multiple layers of credit. Such layers are designed to constitute credit chains which are inclusive of a simple mortgage market. The focus is on the nature and contagion properties of credit chains in an economy where the financial sector plays a real allocative role and agents have a nontrivial choice of whether to default on mortgages or not. Multiple equilibria with different rates of default are observed, due to the pres...
Joo, S.-H.; Grable, J. E.; Bagwell, D. C.
At a southwestern public university, 242 students responded to a questionnaire about their credit-card use and attitudes. The results revealed that about 70 percent of the students held one or more credit cards, and about 10 percent had five or more credit cards. Twenty-two percent never kept copies of their charge slips, and only 49 percent paid…
... 5 Administrative Personnel 3 2010-01-01 2010-01-01 false Commodity Credit Corporation payments... PAYMENT § 1315.13 Commodity Credit Corporation payments. As provided in § 1315.1(d), the provisions of... Credit Corporation (CCC) pursuant to Section 4(h) of the Act of June 29, 1948 (15 U.S.C. 714b(h)) (“CCC...
Full Text Available The purpose of this paper is to examine two South Africa legislations dealing with over indebtedness of a consumer. It is clear that in terms of the South African law, section 129 (1 and 130 (3 of the National Credit Act provide that a creditor provider who wishes to enforce a debt under a credit agreement must first issue a section 129 (1 (a notice to the consumer (the purpose of the notice is to notify the consumer of his/her arrears. On the other hand, the South African National Credit Act encourages the consumers to fulfil the financial obligations for which they are responsible. The second legislation to be examined which serve or appear to serve same purpose as the National Credit Act is the Insolvency Act. It therefore, postulated that the compulsory sequestration of a consumer in terms of the Insolvency Act would stand as an alternative remedy for a credit provider before she/he can have recourse mechanisms, such as debt review that are focused on satisfaction of the consumer’s financial obligation , in terms of the provisions of the National Credit Act. The paper determines to what extend these measures comply with the constitutional consumer protection demands. The legislature had been pertinently cognizant of the Insolvency Act when it lately enacted the National Credit Act. This is much apparent from the express amendment of section 84 of the Insolvency Act to the extent set out in schedule 2 of the National Credit Act
Yang, Bijou; James, Simon; Lester, David
American university students owned more than twice as many credit cards as British university students. However, scores on a credit card attitude scale predicted the number of cards owned by respondents in both countries.
... FARM CREDIT SYSTEM INSURANCE CORPORATION Farm Credit System Insurance Corporation Board Meeting AGENCY: Farm Credit System Insurance Corporation. SUMMARY: Notice is hereby given of the regular meeting of the Farm Credit System Insurance Corporation Board (Board). Date and Time: The meeting of the...
Mahata, Gour Chandra
In practice, the supplier often offers the retailers a trade credit period and the retailer in turn provides a trade credit period to her/his customer to stimulate sales and reduce inventory. From the retailer's perspective, granting trade credit not only increases sales and revenue but also increases opportunity cost (i.e., the capital opportunity loss during credit period) and default risk (i.e., the percentage that the customer will not be able to pay off his/her debt obligations). Hence, how to determine credit period is increasingly recognized as an important strategy to increase retailer's profitability. Also, the selling items such as fruits, fresh fishes, gasoline, photographic films, pharmaceuticals and volatile liquids deteriorate continuously due to evaporation, obsolescence and spoilage. In this paper, we propose an economic order quantity model for the retailer where (1) the supplier provides an up-stream trade credit and the retailer also offers a down-stream trade credit, (2) the retailer's down-stream trade credit to the buyer not only increases sales and revenue but also opportunity cost and default risk, and (3) the selling items are perishable. Under these conditions, we model the retailer's inventory system as a profit maximization problem to determine the retailer's optimal replenishment decisions under the supply chain management. We then show that the retailer's optimal credit period and cycle time not only exist but also are unique. We deduce some previously published results of other researchers as special cases. Finally, we use some numerical examples to illustrate the theoretical results.
As states seek to foster the development of renewable energy resources, some have introduced renewable portfolio standards (RPSs) which require retailers of electricity to derive a specified amount of their energy supply from renewable energy resources. RPSs in Texas, Arizona, Wisconsin and Nevada allow for or require the use of tradable renewable energy credits. The price of such credits is expected to reflect the cost premium for generating electricity from renewable resources relative to the market price of conventionally generated electricity. Using the market to trade renewable energy credits exposes buyers and sellers to risks of imperfect information, poor performance, and opportunism. These risks can be managed through contractual arrangements and regulatory requirements pertaining to property rights in credits, pricing, term of the contract, and assurance of performance
Hill, B.W.; Martono, H.; Gillespie, J.S.
Translation of beamline model descriptions between different accelerator codes presents a unique challenge due to the different representations used for various elements and subsystems. These differences range from simple units conversions to more complex translations involving multiple beamline components. A representation of basic accelerator components is being developed in order to define a meta-structure from which beamline models, in different codes, can be described and to facilitate the translation of models between these codes. Sublines of basic components will be used to represent more complex beamline descriptions and bridge the gap between codes which may represent a beamline element as a single entity, and those which use multiple elements to describe the same physical device. A C++ object model for supporting this beamline description and a grammar for describing beamlines in terms of these components is being developed. The object model will support a common graphic user interface and translation filters for representing native beamline descriptions for a variety of accelerator codes. An overview of our work on the object model for beamline descriptions is presented here. copyright 1997 American Institute of Physics
Mozumder, Pallab; Marathe, Achla
Decoupling the environmental attributes of renewable energy (RE) generation from the physical unit of energy is an innovative mechanism for marketing green or renewable power. The introduction of 'Tradable Renewable Energy Credits' (TRECs) allows the green power attributes of energy to be sold or traded separately from the physical unit of energy. Since the green power certificate system removes potential locational and physical bottlenecks, both suppliers and consumers gain flexibility in the marketplace. The TREC is also an efficient tool to meet 'Renewable Portfolio Standard' (RPS) required by different states in the US. This paper discusses the RPS requirements for different states and examines the implications of an integrated TREC market. It offers a competitive setting to the consumers to pay for renewable energy and a cost effective tool to support renewable energy generation [Grace and Wiser, 2002]. This paper also highlights some practical difficulties that should be addressed in order to establish an efficient integrated TREC market
The general concept of probabilistic analysis and its application to the use of burnup credit in spent fuel transport is explored. Discussion of the probabilistic analysis method is presented. The concepts of risk and its perception are introduced, and models are suggested for performing probability and risk estimates. The general probabilistic models are used for evaluating the application of burnup credit for dry spent nuclear fuel transport. Two basic cases are considered. The first addresses the question of the relative likelihood of exceeding an established criticality safety limit with and without burnup credit. The second examines the effect of using burnup credit on the overall risk for dry spent fuel transport. Using reasoned arguments and related failure probability and consequence data analysis is performed to estimate the risks of using burnup credit for dry transport of spent nuclear fuel. (author)
Full Text Available To price convertible bonds more precisely, least squares Monte Carlo (LSM method is used in this paper for its advantage in handling the dependence of derivatives on the path, and dynamic credit risk is used to replace the fixed one to make the value of convertible bonds reflect the real credit risk. In the empirical study, we price convertible bonds based on static credit risk and dynamic credit risk, respectively. Empirical results indicate that the ICBC convertible bond has been overpriced, resulting from the underestimation of credit risk. In addition, when there is an issue of dividend, the conversion price will change in China's convertible bonds, while it does not change in the international convertible bonds. So we also empirically study the difference between the convertible bond's prices by assuming whether the conversion price changes or not.
controls the supply of money. This assumes the ... input supply, marketing services and of course credit supply. Provision of ... credit in state, assess the impact of credit on agricultural ..... Inflation targeting be a framework for monetary policy.
Smith, Janet Kiholm
Commonly used trade credit terms implicitly define a high interest rate that operates as an efficient screening device where information about buyer default risk is asymmetrically held. By offering trade credit, a seller can identify prospective defaults more quickl y than if financial institutions were the sole providers of short-ter m financing. The information is valuable in cases where a seller has made nonsalvageable investments in buyers since it enables the seller to take actions to pr...
Adolfo Barajas; Roberto Steiner
This study examines the recent marked slowdown in bank credit to the private sector in Latin America. Based on the study of eight countries (Argentina, Bolivia, Brazil, Chile, Colombia, Peru, Mexico, and Venezuela), the magnitude of the slowdown is documented, comparing it to historical behavior and to slowdown episodes in other regions of the world. Second, changes in bank balance sheets are examined to determine whether the credit slowdown is merely a reflection of a slowdown in bank deposi...
Anderson, J.F.; Kodjak, D.
Dedicated natural gas vehicles (NGVs) often are capable of testing to lower than federally required engine certification standards. NGVs often meet inherently low emission vehicle (ILEV) and ultra low emission vehicle (ULEV) standards. Over the useful life of the vehicle, a significant amount of mobile source emission reduction credits (MSERCs) can be generated. This paper will discuss key elements of establishing a workable methodology to quantify the emissions benefits generated through the purchase and use of heavy-duty natural gas vehicles instead of heavy-duty diesel vehicles. The paper will focus on a public fleet of transit buses owned by the Massachusetts Bay Transit Agency, the Massachusetts Port Authority, and a private fleet of waste haulers. Public fleets may generate emission credits as a key compliance option to offset emission shortfalls from changes to the Employee Commute Options (ECO) program, the Inspection and Maintenance program, and facilitate annual surface transportation conformity. Private fleets may generate emission credits for open market trading to area and stationary sources seeking to buy credits from mobile sources, where allowed by EPA and state policy
.... State-owned financial institutions play a major role in financing capital expenditure while working capital requirements are mainly met by informal sources of credit. However, future investment requirements and credit needs are greater than currently available.
Eitelberger, Johannes; Svensson, Staffan; Hofstetter, Karin
transport when used to describe transient processes. A suitable modeling approach was found by distinguishing between the two phases of water in wood, namely bound water in the cell walls and water vapor in the lumens. Such models are capable of reproducing transient moisture transport processes......, but the physical origin of the coupling between the two phases remains unclear. In this paper, the physical background on the microscale is clarified and transformed into a comprehensive macroscopic description, ending up with a dual-scale model comprising three coupled differential equations for bound water...
Lapson, E.; Hunter, Richard
This chapter examines the relationship of market structure and price volatility to credit risk, and discusses credit risk and energy market structures, credit risk in bilateral contracts, market evolution, and the effect of liberalising power markets on credit quality considering the power liberalising in Europe, the pace of change, and the new risks and opportunities. The market structure in Europe is addressed, and the EU Directive 96/92/EC, structural requirements, access for new generation capacity, and transmission costs are considered. Details of the liberalisation in the UK electricity market, the German market, and the Nord Pool are given, and the best credit practices in bilateral markets, and the quantifying of expected credit loss are described. Panels highlighting the need to know your counterparty in evaluating and negotiating bilateral contracts, and lessons learnt from the June 1998 US power price spike are presented
Improved calculational methods allow one to take credit for the reactivity reduction associated with fuel burnup. This means reducing the analysis conservatism while maintaining an adequate safety margin. The motivation for using burnup credit in criticality safety applications is based on economic considerations and additional benefits contributing to public health and safety and resource conservation. Interest in the implementation of burnup credit has been shown by many countries. In 1997, the International Atomic Energy Agency (IAEA) started a task to monitor the implementation of burnup credit in spent fuel management systems, to provide a forum to exchange information, to discuss the matter and to gather and disseminate information on the status of national practices of burnup credit implementation in the Member States. The task addresses current and future aspects of burnup credit. This task was continued during the following years. (author)
... addition to regular credit evaluation criteria, SBA shall weigh the greater risk associated with energy... 13 Business Credit and Assistance 1 2010-01-01 2010-01-01 false Are there any special credit criteria? 120.333 Section 120.333 Business Credit and Assistance SMALL BUSINESS ADMINISTRATION BUSINESS...
"Mekong River Regional Development Project advocated by Asian Development Bank (ADB) has been implemented. Trans-Asia Railway and Trans-Asia Highway are being discussed. It is a good opportunity for Asian Export Credit Agencies (ECAs) to cooperate and financing these large crossboarder projects."On May 11, at the 10th Annual Meeting of Asian Export Credit Agencies,
Nor Asiah Omar
Full Text Available Purpose: This study aims to examine the factors that influence credit card misuse among working adults in Klang Valley, Malaysia. The relationship among self-esteem, materialism, impulsive buying, budget constraint, compulsive buying and credit card misuse are explored in this study. Design/methodology/approach: A total of 186 questionnaires was collected via convenience sampling from credit card users of working adults in Malaysia. A structural equation model that assesses the relationship between the proposed variables is tested using AMOS 20. Findings: The findings reveal that budget constraints, impulsive buying and materialism have a statistically significant influence on compulsive buying. In terms of credit card misuse, it is influenced negatively by self-esteem while positively by compulsive buying. Originality/value: Despite vast research on compulsive buying and credit card misuse, very few studies have examined it in the non-Western context.
The application of burnup credit to storage and transportation cask licensing results in a significant improvement in cask capacity and an associated reduction of the cost per kilogram of uranium in the cask contents. The issues for licensing with burnup credit deal primarily with the treatment of fission product poisons and methods of verification of burnup during cask operations. Other issues include benchmarking of cross-section sets and codes and the effect of spatial variation of burnup within an assembly. The licensing of burnup credit for casks will be complex, although the criticality calculations are not themselves difficult. Attention should be directed to the use of fission product poisons and the uncertainties that they introduce. Verification of burnup by measurements will remove some of the concerns for criticality safety. Calculations for burnup credit casks should consider rod-to-rod and axial variations of burnup, as well as variability of burnable poisons it they are used in the assembly. In spite of the complexity of cask burnup credit licensing issues, these issues appear to be resolvable within the current state of the art of criticality safety
Kimberley A. Scharf
This paper examines the role of international tax evasion for the choice of an optimal foreign tax credit by a capital exporting region. Since a foreign tax credit raises the opportunity cost of concealing foreign source income, it can be employed to discourage evasion activity. The existence of international tax evasion possibilities could thus help rationalize a choice of tax credit in excess of a deduction-equivalent credit level. Our analysis shows that, in general the optimal credit will...
Ahmet Faruk Aysan; L. Yildiz
The rapid growth in Turkish credit card market brought together new issues. Card holders and consumer unions complain about the high interest rates, economists complain about the default rates and banks complain about the amnesties. After all of these complaints coinciding with the accelerating suicide incidences due to credit card debts, regulation has been enacted in the credit card market in Turkey. In 2003, credit cards had been taken into the scope of the Consumer Protection Law. This wa...
Full Text Available Credit assessment is the basis and premise of credit risk management systems. Accurate and scientific credit assessment is of great significance to the operational decisions of shareholders, corporate creditors, and management. Building a good and reliable credit assessment model is key to credit assessment. Traditional credit assessment models are constructed using the support vector machine (SVM combined with certain traditional dimensionality reduction algorithms. When constructing such a model, the dimensionality reduction algorithms are first applied to reduce the dimensions of the samples, so as to prevent the correlation of the samples’ characteristic index from being too high. Then, machine learning of the samples will be conducted using the SVM, in order to carry out classification assessment. To further improve the accuracy of credit assessment methods, this paper has introduced more cutting-edge algorithms, applied isometric feature mapping (Isomap for dimensionality reduction, and used the relevance vector machine (RVM for credit classification. It has constructed an Isomap-RVM model and used it to conduct financial analysis of China's listed companies. The empirical analysis shows that the credit assessment accuracy of the Isomap-RVM model is significantly higher than that of the Isomap-SVM model and slightly higher than that of the PCA-RVM model. It can correctly identify the credit risks of listed companies.
... TRADE COMMISSION 16 CFR Parts 640 and 698 RIN R411009 Fair Credit Reporting Risk-Based Pricing... respective risk-based pricing rules to require disclosure of credit scores and information relating to credit scores in risk-based pricing notices if a credit score of the consumer is used in setting the material...
Patents, copyrights, trademarks… there are many ways to protect intellectual property and yet, despite these precautionary measures, it seems that colleagues sometimes still slip up: plots done by one person are used in another’s presentation without being appropriately credited, citations are wrongly assigned, references are inaccurate… Plagiarism and misappropriation do not only happen in the worlds of art, music and literature. Often in our world, during the preparation phase of a scientific paper or even just in their daily work, scientists are required to share the work of many contributors and sometimes they do not keep track of who did what. No-one minds as long as this stays within the limits of teamwork, in which credits are distributed evenly and nobody’s contribution gets forgotten. Problems arise however, when one person’s work ends up being presented by another without the correct credit, or indeed when someone is held back from p...
Full Text Available The economists have focused on credit crunch since 1990’s. The economists are not in consensus as to what constitutes the credit crunch. The differences in definitions come from the causes of credit contraction. Credit crunch is generally accepted as an enormous decline period in credit supply. Although the credit crunch is seen as a supply phenomenon, some economists define it as a demand issue. Investment declines significantly as result of an increase in credit rationing. The purpose of this study is to investigate the dependence of private investment on money and credit supply in Turkey. In other words, we want to quantify the effect of credit contraction in the banking sector on private fixed investment. VAR model is used to identify the existence of credit crunch through four economic variables: Private fixed investment, money stock (M2, bank loans to private sector and interest rate of commercial loans for the period ranging from 2003:01 to 2010:08. According to results of this study, it can be said that the credit crunch that we dealt with as a supply phenomenon leads to an investment collapse (slump in Turkey. The paper proceeds as follows: Section I provides theoretical background of credit channels and credit crunch. Section II summarizes recent empirical studies. Section III describes variables and discusses the empirical findings of the model. Section IV provides concluding remarks.
Gicheva, Dora; Ionescu, Felicia; Simpson, Nicole B.
College students now use various forms of unsecured credit such as private student loans and credit cards to finance college. Access to these credit lines and the interest rates charged on these loans can vary significantly across credit scores. In this paper, we analyze if credit status, as measured by self-reported characteristics of an individual's credit standing, affects college investment. Using data from the Survey of Consumer Finances, we study a sample of young high school graduates ...
Full Text Available Catastrophe bonds are the most important products in catastrophe risk securitization market. For the operating mechanism, CAT bonds may have a credit risk, so in this paper we consider the influence of the credit risk on CAT bonds pricing that is different from the other literature. We employ the Jarrow and Turnbull method to model the credit risks and get access to the general pricing formula using the Extreme Value Theory. Furthermore, we present an empirical pricing study of the Property Claim Services data, where the parameters in the loss function distribution are estimated by the MLE method and the default probabilities are deduced by the US financial market data. Then we get the catastrophe bonds value by the Monte Carlo method.
... maintain established or projected capital levels; or (ii) Raise funds in the money markets; or (2... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Other financing institution access to Farm... POLICIES AND OPERATIONS Farm Credit Bank and Agricultural Credit Bank Financing of Other Financing...
... 26 Internal Revenue 14 2010-04-01 2010-04-01 false Credit for foreign death taxes. 20.2014-1....2014-1 Credit for foreign death taxes. (a) In general. (1) A credit is allowed under section 2014... any foreign country (hereinafter referred to as “foreign death taxes”). The credit is allowed only for...
Full Text Available We propose a simple but practical methodology for the quantification of correlation risk in the context of credit derivatives pricing and credit valuation adjustment (CVA, where the correlation between rates and credit is often uncertain or unmodelled. We take the rates model to be Hull–White (normal and the credit model to be Black–Karasinski (lognormal. We summarise recent work furnishing highly accurate analytic pricing formulae for credit default swaps (CDS including with defaultable Libor flows, extending this to the situation where they are capped and/or floored. We also consider the pricing of contingent CDS with an interest rate swap underlying. We derive therefrom explicit expressions showing how the dependence of model prices on the uncertain parameter(s can be captured in analytic formulae that are readily amenable to computation without recourse to Monte Carlo or lattice-based computation. In so doing, we crucially take into account the impact on model calibration of the uncertain (or unmodelled parameters.
A credit card is a convenient method of payment, but it does carry risks. The enormous ... Identity theft and the exponential ... Unique Security Features of a Credit Card with the Aim of Identifying ..... technology in an attempt to try and curb the.
Cremers, M.; Driessen, J.; Maenhout, P.; Weinbaum, D.
This paper introduces measures of volatility and jump risk that are based on individual stock options to explain credit spreads on corporate bonds. Implied volatilities of individual options are shown to contain useful information for credit spreads and improve on historical volatilities when
Is it possible to reduce greenhouse gas emissions by assigning a value to CO 2 ? That's the concept behind carbon credits. Their advantage: they set targets but let companies decide how to meet them. Of all the processes that can be used to reduce air pollution, the cap and trade system is the best way to meet global targets on a national or continental scale. The system's efficiency is based on setting a ceiling for emissions: this is the cap. The emissions quotas are negotiable goods that can be traded on a market: this is the 'trade'. No company can exceed its quotas, but it can choose how to meet them: decreasing its emissions by changing its production processes, buying carbon credits sold by companies that have exceeded their targets, or using clean development mechanisms. For a carbon credit system to function correctly on an economic level, it's essential to meet one condition: don't allocate too many emissions quotas to the companies involved. If they receive too many quotas, it's not hard for them to meet their objectives without changing their production processes. The supply of carbon credits currently exceeds demand. The price per ton of CO 2 is collapsing, and companies that have exceeded their targets are not rewarded for their efforts. Efficient though it may be, the cap and trade system cannot be the only way to fight CO 2 emissions. In Europe, it presently covers 40% of the CO 2 emissions by targeting utilities and industries that consume the most fossil fuels. But it cannot be extended to some sectors where pollution is diffuse. In transportation, for example, it's not possible to impose such a requirement. For that sector, as well as for the building sector, a suitable system of taxes might be effective and incentive
... 47 Telecommunication 2 2010-10-01 2010-10-01 false Operating investment tax credits-net. 32.7210....7210 Operating investment tax credits—net. (a) This account shall be charged and Account 4320, Unamortized Operating Investment Tax Credits—Net, shall be credited with investment tax credits generated from...
Williamson, Stephen; Sanches, Daniel
We study the interplay among imperfect memory, limited commitment, and theft, in an environment that can support monetary exchange and credit. Imperfect memory makes money useful, but it also permits theft to go undetected, and therefore provides lucrative opportunities for thieves. Limited commitment constrains credit arrangements, and the constraints tend to tighten with imperfect memory, as this mitigates punishment for bad behavior in the credit market. Theft matters for optimal monetary ...
Delli Gatti, Domenico; Gallegati, Mauro; Greenwald, Bruce; Russo, Alberto; Stiglitz, Joseph E.
We model a network economy with three sectors: downstream firms, upstream firms, and banks. Agents are linked by productive and credit relationships so that the behavior of one agent influences the behavior of the others through network connections. Credit interlinkages among agents are a source of bankruptcy diffusion: in fact, failure of fulfilling debt commitments would lead to bankruptcy chains. All in all, the bankruptcy in one sector can diffuse to other sectors through linkages creating a vicious cycle and bankruptcy avalanches in the network economy. Our analysis show how the choices of credit supply by both banks and firms are interrelated. While the initial impact of monetary policy is on bank behaviour, we show the interactive play between the choices made by banks, the choices made by firms in their role as providers of credit, and the choices made by firms in their role as producers.
Full Text Available The use of credit cards for payment in lieu of cash since the introduction of the first credit card ever more widely known and used by people. On the early introduction of this credit card, the wearer is limited to certain circles. However, a few decades later the credit card industry primarily enter the end of the Decade of the 1970s, has penetrated almost throughout all parts of the world, including Indonesia. A credit card is issued by most commonly used by the public and apply the current International consists of a range of brands, among others, a very popular one is Visa and Master Card are each issued by the credit card company international and Master Card International.In practice many found the works in banking that may be subject to sanctions as set forth in the book of the law of criminal law (Criminal Code.
Leiter, Michael P.
Online credit recovery is becoming a popular choice for students needing to recover lost graduation credit due to course failure. The problem is that high school students who take online credit recovery classes in order to gain writing credit for graduation are failing the writing section on the state merit exam (MME). At-risk students and…
... 26 Internal Revenue 14 2010-04-01 2010-04-01 false Credit for State death taxes. 20.2011-1 Section....2011-1 Credit for State death taxes. (a) In general. A credit is allowed under section 2011 against the... possession of the United States (hereinafter referred to as “State death taxes”). The credit, however, is...
... 26 Internal Revenue 1 2010-04-01 2010-04-01 true New markets tax credit. 1.45D-1 Section 1.45D-1... Computing Credit for Investment in Certain Depreciable Property § 1.45D-1 New markets tax credit. (a) Table... of new markets tax credit (B) Recapture event (ii) CDE reporting requirements to Secretary (iii...
Rafael Felipe Schiozer
Full Text Available This paper investigates the determinants of trade credit supply by Brazilian publicly traded companies between the years of 2005 and 2008. International literature (both theoretical and empirical documents that the main determinants of trade credit supply are the size of the firm and the size of its debt. Both indicate that the availability of resources to the firm is an important factor for the supply of trade credit. In addition, the literature confirms strategic uses of trade credit such as those for price discrimination purposes. The results obtained using a sample of 157 Brazilian companies do not support that size and indebtedness are relevant determinants for trade credit supply, but they confirm the supply of trade credit as a strategic tool for the firms. Additionally we observed a significant decrease in trade credit supply in 2008, the year in which a severe international financial crisis took place.
Despite guidance from the United States Green Building Council (USGBC) on the requirements for earning a Leadership in Energy and Environmental Design (LEED) ergonomics credit in the Innovation in Design and Innovation in Operations category, few projects have received the credit. The University of California, Berkeley ergonomics program, Ergonomics@Work, has aligned the ergonomics strategy to those of the USGBC and LEED to achieve the ergonomics credit in several new buildings. This article describes the steps needed to obtain the credit and highlights the opportunities it creates to partner with the project team to promote ergonomics. As a profession it is up to ergonomists to create the road map that incorporates ergonomics into the green building design.
Norden, L.; Silva Buston, C.F.; Wagner, W.B.
This paper investigates whether, and through which channel, the active use of credit derivatives changes bank behavior in the credit market, and how this channel was affected by the crisis of 2007–2009. Our principal finding is that banks with larger gross positions in credit derivatives charge
Trude, S; Ginsburg, P B
Bipartisan interest is growing in Congress for using federal tax credits to help low-income families buy health insurance. Regardless of the approach taken, tax credit policies must address risk selection issues to ensure coverage for the chronically ill. Proposals that link tax credits to purchasing pools would avoid risk selection by grouping risks similar to the way large employers do. Voluntary purchasing pools have had only limited success, however. This Issue Brief discusses linking tax credits to purchasing pools. It uses information from the Center for Studying Health System Change's (HSC) site visits to 12 communities as well as other research to assess the role of purchasing pools nationwide and the key issues and implications of linking tax credits and pools.
Christoffersen, Peter; Jacobs, Kris; Jin, Xisong
We characterize dependence and tail dependence in corporate credit using a new class of dynamic copula models which can capture dynamic dependence and asymmetry in large samples of firms. We also document important differences between the dependence dynamics for credit spreads and equity returns...
... DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT [Docket No. FR-5411-N-02] Credit Watch Termination Initiative AGENCY: Office of the Assistant Secretary for Housing--Federal Housing Commissioner, HUD. ACTION... FHA Credit Watch Termination Initiative. This notice includes a list of mortgagees which have had...
... DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT [Docket No. FR-5411-N-01] Credit Watch Termination Initiative AGENCY: Office of the Assistant Secretary for Housing--Federal Housing Commissioner, HUD. ACTION... FHA Credit Watch Termination Initiative. This notice includes a list of mortgagees which have had...
... 40 Protection of Environment 32 2010-07-01 2010-07-01 false Banking emission credits. 1042.715 Section 1042.715 Protection of Environment ENVIRONMENTAL PROTECTION AGENCY (CONTINUED) AIR POLLUTION..., Banking, and Trading for Certification § 1042.715 Banking emission credits. (a) Banking is the retention...
Friewald, Nils; Wagner, Christian; Zechner, Josef
Structural models a la Merton (1974) imply that rms' risk premia in equity and credit markets are related. We explore this relation, using the joint crosssection of stock returns and risk premia estimated from forward credit default swap (CDS) spreads. Consistent with structural models, we nd...... that rms' equity returns and Sharpe ratios increase with estimated credit risk premia and that the returns of buying high and selling low credit risk premium rms cannot be explained by traditional risk factors. Credit risk premia contain equity-relevant information neither captured by risk-neutral nor...
Brown, M.; Ongena, S.; Popov, A.; Yesin, P.
Based on survey data covering 8,387 firms in 20 countries we compare the access to bank credit for firms in Eastern Europe to that in selected Western European countries. Our analysis reveals five main results. First, the firm-level determinants of the propensity to apply are similar in Eastern and
To complement the neutrino-physics lectures given at the 2011 International School on Astro Particle Physics devoted to Neutrino Physics and Astrophysics (ISAPP 2011; Varenna, Italy), at the 2011 European School of High Energy Physics (ESHEP 2011; Cheila Gradistei, Romania), and, in modified form, at other summer schools, we present here a written description of the physics of neutrino oscillation. This description is centered on a new way of deriving the oscillation probability. We also provide a brief guide to references relevant to topics other than neutrino oscillation that were covered in the lectures
Kayser, Boris [Fermilab (United States)
To complement the neutrino-physics lectures given at the 2011 International School on Astro Particle Physics devoted to Neutrino Physics and Astrophysics (ISAPP 2011; Varenna, Italy), at the 2011 European School of High Energy Physics (ESHEP 2011; Cheila Gradistei, Romania), and, in modified form, at other summer schools, we present here a written description of the physics of neutrino oscillation. This description is centered on a new way of deriving the oscillation probability. We also provide a brief guide to references relevant to topics other than neutrino oscillation that were covered in the lectures.
An analysis and further development of the building blocks of modern credit risk management: -Definitions of default -Estimation of default probabilities -Exposures -Recovery Rates -Pricing -Concepts of portfolio dependence -Time horizons for risk calculations -Quantification of portfolio risk -Estimation of risk measures -Portfolio analysis and portfolio improvement -Evaluation and comparison of credit risk models -Analytic portfolio loss distributions The thesis contributes to the evaluatio...
Maningo, Gary V.
Micro, small, and medium-sized enterprises are a backbone of the Philippine economy. One factor that hinders the growth of these enterprises is their difficulty in accessing finance from banks and other financial institutions. The Credit Surety Fund (CSF) was established to help these enterprises and other organizations become creditworthy and bankable. The CSF is a credit guarantee program initiated by the Bangko Sentral ng Pilipinas that enables enterprises and cooperatives to gain easier a...
G.J. DE BONDT
Full Text Available The work provides an economic analysis of the monetary transmission mechanism in Europe. The author reviews the literature on the money and credit view before describing cross-country differences in credit channel indicators and examining the existence of credit channels by distinguishing between households and firms. The relative importance of a bank lending and balance sheet channel is discussed by assessing impulse response functions from a vector error correction model.
... 26 Internal Revenue 12 2010-04-01 2010-04-01 false Consolidated foreign tax credit. 1.1502-4... TAX (CONTINUED) INCOME TAXES Consolidated Tax Liability § 1.1502-4 Consolidated foreign tax credit. (a) In general. The credit under section 901 for taxes paid or accrued to any foreign country or...
Carpenter, Dick M., II; Ross, John K.
The evidence advanced in this report demonstrates that using tax credits to fund scholarships for students is both well-established and sound practice. Three existing credits allow taxpayer funds to flow to faith-based organizations, and one of those, the Qualified Endowment Credit, rewards contributions to more than a thousand charitable…
... NATIONAL CREDIT UNION ADMINISTRATION CENTRAL LIQUIDITY FACILITY § 725.17 Applications for extensions of credit. (a) A Regular member may apply for a Facility advance to meet its liquidity needs by filing an... Agent by its member natural person credit unions for pending loans to meet liquidity needs; or (ii...
... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Farm Credit Leasing Services Corporation. 614... OPERATIONS Lending and Leasing Limits § 614.4356 Farm Credit Leasing Services Corporation. The Farm Credit Leasing Services Corporation may enter into a lease agreement with a lessee if the consolidated amount of...
Full Text Available In the year 2007 was adopted the Publication no. 600 of Paris regarding the Rules and the Uniform Practices for documentary letters of credit which replaced the Publication no. 500. Publication no. 600 (UCP 600 is applied to all the irrevocable documentary letters of credit when the parties make express reference to these Rules. The Publication no. 600 includes uniform rules, international practices and standards of irrevocable documentary letters of credit. The new Publication has brought a number of changes on the issues regarding the performance of the letters of credit, both in the relationship with the nonbanking institutions participants and in the relationship between the credit institutions participating in the performance of the letter of credit. This study, without being exhaustive, aims to capture the main aspects of novelty brought by the publication no. 600 and their legal approach to the new perspective of the international trade relations. It has in view, in particular, the irrevocable character of the letter of credit, the elaboration method and procedure of the letter of credit, the participants to the unfolding of the specific relationship of the letter of credit and the main duties of the involved credit institutions.
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
Fabbri, D.; Menichini, A.M.C.
Assuming that firms’ suppliers are better able to extract value from the liquidation of assets in default and have an information advantage over other creditors, the paper derives six predictions on the use of trade credit. (1) Financially unconstrained firms (with unused bank credit lines) take
... make, provided the borrower eligibility, membership, term, amount, loan security, and stock or... Banks and Banking FARM CREDIT ADMINISTRATION FARM CREDIT SYSTEM LOAN POLICIES AND OPERATIONS Lending... the requirements in § 614.4200 of this part, to make real estate mortgage loans with maturities of not...
Barslund, Mikkel; Tarp, Finn
This paper uses a survey of 932 rural households to uncover how the rural credit market operates in Vietnam. Households obtain credit through formal and informal lenders. Formal loans are almost entirely for production and asset accumulation, while informal loans are used for consumption smoothen......This paper uses a survey of 932 rural households to uncover how the rural credit market operates in Vietnam. Households obtain credit through formal and informal lenders. Formal loans are almost entirely for production and asset accumulation, while informal loans are used for consumption...
Full Text Available Credit card as a kind of advanced means of payment and the new way of consumer credit in the world widely, but in our country is faced with some problems, such as their per capita spending is low, open the card number is small, motionless bank card is a lot. In this paper, using the Logit model to analyze the Anshan city in Liaoning province consumer credit card usage. And combined with empirical analysis to provide banking management Suggestions and marketing countermeasures, including targeted to provide different kinds of credit card.
Pelizzon, Loriana; Subrahmanyam, Marti G.; Tomio, Davide
We examine the dynamic relation between credit risk and liquidity in the Italian sovereign bond market during the eurozone crisis and the subsequent European Central Bank (ECB) interventions. Credit risk drives the liquidity of the market. A 10% change in the credit default swap (CDS) spread leads...... to a 13% change in the bid-ask spread, the relation being stronger when the CDS spread exceeds 500 basis points. The Long-Term Refinancing Operations of the ECB weakened the sensitivity of market makers’ liquidity provision to credit risk, highlighting the importance of funding liquidity measures...
Sipahutar, Mangasa Augustinus
Abstract Effect of credit on economic growth, unemployment and poverty provides evidence from Indonesia on the role of banks credit for promoting economic growth and reducing both unemployment and poverty. To document the link between banks credit and economic growth, we estimate a VAR model and variance decompositions of annual GDP per capita growth rates to examine what proxy measures of banks credit are most important in accounting for economic growth over time and ho...
Full Text Available Risk management is one of the most important branches of business and finance. Classification models are the most popular and widely used analytical group of data mining approaches that can greatly help financial decision makers and managers to tackle credit risk problems. However, the literature clearly indicates that, despite proposing numerous classification models, credit scoring is often a difficult task. On the other hand, there is no universal credit-scoring model in the literature that can be accurately and explanatorily used in all circumstances. Therefore, the research for improving the efficiency of credit-scoring models has never stopped. In this paper, a hybrid soft intelligent classification model is proposed for credit-scoring problems. In the proposed model, the unique advantages of the soft computing techniques are used in order to modify the performance of the traditional artificial neural networks in credit scoring. Empirical results of Australian credit card data classifications indicate that the proposed hybrid model outperforms its components, and also other classification models presented for credit scoring. Therefore, the proposed model can be considered as an appropriate alternative tool for binary decision making in business and finance, especially in high uncertainty conditions.
Deregulation of the electric power industry has the potential to put power businesses at market risk particularly when the value of an asset or liability will change with market movements. Market risk gives rise to credit risk where a contract cannot be fulfilled. This presentation describes how credit risks can be identified and measured. Most practitioners use some variant of value-at-risk (VAR) technology for measuring market risk. Under this approach, risk is determined by the volatility implied by the market. Volatility of electricity prices and natural gas prices has increased significantly in Alberta in recent years. The consequence is an increase in both market and credit risk. The author described the difference between the two risks and their significance. An overview of credit risk management with derivatives, an over-the counter contract, was also presented. The author also discusses issue of protection buyers in the event of a failed contract. 9 figs
... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Required credit risk-sharing structure. 955.3...-BALANCE SHEET ITEMS ACQUIRED MEMBER ASSETS § 955.3 Required credit risk-sharing structure. (a... conducting a rating review of the asset or pool of assets in a securitization transaction. (b) Credit risk...
... 12 Banks and Banking 3 2010-01-01 2010-01-01 false Credit to brokers and dealers. 221.125 Section... SYSTEM CREDIT BY BANKS AND PERSONS OTHER THAN BROKERS OR DEALERS FOR THE PURPOSE OF PURCHASING OR CARRYING MARGIN STOCK (REGULATION U) Interpretations § 221.125 Credit to brokers and dealers. (a) The...
... 12 Banks and Banking 3 2010-01-01 2010-01-01 false Credit to brokers and dealers. 220.132 Section 220.132 Banks and Banking FEDERAL RESERVE SYSTEM (CONTINUED) BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM CREDIT BY BROKERS AND DEALERS (REGULATION T) Interpretations § 220.132 Credit to brokers and...
Sharif, Shamshuritawati; Ap, Nuraisah Che; Ruslan, Nuraimi
A stable world currency exchange rate is a very important aspect to be considered for a developed country, i.e Malaysia. A better understanding about the currencies itself is needed nowadays. This project is about to understanding the fluctuation and to identify the most influential world currencies in the three different cases; before credit crisis, during credit crisis and after credit crisis. A network topology approach is use to examine the interrelationship between currencies based on correlation analysis. With this point of view, those relationships can be measured by a correlation structure among the currencies. The network can be analyse by filtering the important information using minimum spanning tree (MST) and interpret it using degree centrality as the centrality measure. This topology will give a useful guide to understand the behaviour and determine the most influential currency in the network as a part of a complex system. All currencies are compared among the three different cases; before credit crisis, during credit crisis and after credit crisis period. The result of this project shows that Unites State Dollar (USD), Brazilian Real (BRL), United Kingdom Pound (EUR) and Danish Krone (DKK) are the most influential currencies before the credit crisis period. With respect to during the credit crisis, New Zealand Dollar (NZD) dominates the network and it is followed by Singapore Dollar (SGD) for after the credit crisis period.
This article provides a framework for determining, justifying, and improving financial sustainability of savings and credit programs. Credit programs have income from interest and fees. Income must pay for the cost of funds, loan write-offs, operating costs, and inflation. Reference is made to Otero and Rhyne's four levels of self-sufficiency in credit programs. The Grameen Bank is an example of Level 3 and most credit unions are level 4. Nongovernmental groups in the United Kingdom are level 1 or 2. Experience has shown that removal of subsidies did not affect the quality of services or shift benefits away from the poor. Success in serving poorer people better is attributed 1) to more money being available for lending under tighter management practices, 2) to greater openness to a variety of clients from removal of subsidy restrictions, 3) to a shift to higher interest rates that eliminate richer borrowers, and 4) to a shift to serious collection of loans which is a disincentive to more privileged borrowers. Percentages of loan loss, administration costs, cost of funds, and inflation are useful in measuring the sustainability of credit programs. Interest and fee income must also be measured. Fee repayment rates do not have a common definition of arrears, default, and write-off. A simple measure is the percentage of total costs covered by income. The World Bank recommends the Subsidy Dependence Index. Women tend to be better at repaying loans. Loan size should be related to borrowers' ability to handle the amount of the loan. Low and subsidized interest rates deter depositors and attract richer borrowers. Poorer borrowers are attracted by access to credit and not the cost of credit. Interest rates should be based on market rates. The loan payment should be no longer than necessary. Small groups of borrowers can guarantee each others loans. Group-based loan schemes work best. NGOs must project an image of being serious about loan collections and must take action
Omar, Nor Asiah; Rahim, Ruzita Abdul; Wel, Che Aniza Che; Alam, Syed Shah
Purpose: This study aims to examine the factors that influence credit card misuse among working adults in Klang Valley, Malaysia. The relationship among self-esteem, materialism, impulsive buying, budget constraint, compulsive buying and credit card misuse are explored in this study. Design/methodology/approach: A total of 186 questionnaires was collected via convenience sampling from credit card users of working adults in Malaysia. A structural equation model that assesses the relationship b...
This article describes some strengths and limitations of credit programs for women in developing countries. It is urged that development planners recognize the importance of the selection of the type of credit mechanism in the long term. Ethical issues should be decided upon before the credit mechanism is operable. Organizations should make clear what level of commitment there is to empower borrowers. Most organizations give loans to women and assume empowerment will take place without devising strategies to ensure empowerment. Credit mechanisms include credit for the poor and credit by the poor. A sound financial portfolio and 100% repayment are not the appropriate criteria for securing the empowerment of women. Empowerment of women is related to "building the capacity of borrowers to manage and control decision making." UNICEF's framework of gender equality and women's empowerment identifies levels of empowerment as "welfare, access, conscientisation, participation, and control." Development planners should be aware that provision of credit also has the potential to increase a poor family's debt. Delinquency may be hidden by overlapping loans that trap borrowers. Fewer installment payments increase the chances of a debt trap. Reducing the number of installments may reduce administrative costs and conform to production processes, but may also lead to a debt trap. There is now considerable emphasis on investing in low-income women entrepreneurs as a highly efficient means of achieving social and economic objectives. Credit programs aim to support the growth of small, self-sustaining businesses, to improve women's opportunities, and to provide alternatives to exploitation by local money-lenders. This article describes the following credit mechanisms: bank guarantee systems, government credit schemes, intermediary projects, direct lending projects, banks for the poor, credit unions, and village-based banks.
Full Text Available The paper presents an analysis of the Polish financial system, with regard to both the number of financial institutions and their assets over the last two decades. Data on the structure of household assets are also presented. According to the study, banks are the most important institutions in the Polish financial system. Analyzed in order to compare Polish credit institutions with all other members of the European Union were total assets of credit institutions, assets of the 25 largest banks in the European Union, as well as in Central and East Europe, share of the five largest credit institutions in total assets (CR5, asset share of credit institutions with majority foreign equity ownership, number of credit institutions, number of local units (branches, number of residents per credit institution local unit, number of employees of credit institutions, assets of credit institutions per employee and GDP per capita in PPS. The data demonstrate that over the past decade Polish credit institutions have largely strengthened their position within the European Union.
Stucki, Gerold; Melvin, John
There is a need to develop a contemporary and internationally accepted conceptual description of physical and rehabilitation medicine (PRM). The process of evolving such a definition can now rely on the unifying conceptual model and taxonomy of the International Classification of Functioning, Disability and Health (ICF) and an ICF-based conceptual description of rehabilitation understood as a health strategy. The PRM section of the European Union of Medical Specialists (UEMS) has endorsed the application of the ICF as a unifying conceptual model for PRM and supports the process of moving towards an "ICF-based conceptual description and according definitions of PRM". With this goal in mind, the authors have developed a first tentative conceptual description in co-operation with the professional practice committee of the UEMS-PRM-section. A respective brief definition describes PRM as the medical specialty that, based on the assessment of functioning and including the diagnosis and treatment of health conditions, performs, applies and co-ordinates biomedical and engineering and a wide range of other interventions with the goal of optimizing functioning of people experiencing or likely to experience disability. Readers of the Journal of Rehabilitation Medicine are invited to contribute to the process of achieving an internationally accepted ICF-based conceptual description of PRM by submitting commentaries to the Editor of this journal.
Lydia L. Gan; Ramin Cooper Maysami
This study used factor analysis to examine credit card selection criteria among Singaporeans. The results showed that convenience of use and protection, economics, and flexibility were the main drivers, while the reputation of card was the least important in determining credit card selection in Singapore. Demographic results showed that high-income earners, the better educated, the elderly, married and the professional preferred the convenience-protection factor to the economic-promotional fa...
Counterparty credit risk is present in trades offinancial obligations. This master thesis investigates the up and comingtechnology blockchain and how it could be used to mitigate counterparty creditrisk. The study intends to cover essentials of the mathematical model expectedloss, along with an introduction to the blockchain technology. After modellinga simple smart contract and using historical financial data, it was evidentthat there is a possible opportunity to reduce counterparty credit r...
Sumriddetchkajorn, Sarun; Intaravanne, Yuttana
Since the deployment of the credit card, the number of credit card fraud cases has grown rapidly with a huge amount of loss in millions of US dollars. Instead of asking more information from the credit card's holder or taking risk through payment approval, a nondestructive and data-non-intrusive credit card verifier is highly desirable before transaction begins. In this paper, we review optical techniques that have been proposed and invented in order to make the genuine credit card more distinguishable than the counterfeit credit card. Several optical approaches for the implementation of credit card verifiers are also included. In particular, we highlight our invention on a hyperspectral-imaging based portable credit card verifier structure that offers a very low false error rate of 0.79%. Other key features include low cost, simplicity in design and implementation, no moving part, no need of an additional decoding key, and adaptive learning.
Full Text Available Key role of credit rating agencies is reducing the asymmetry information about credit quality (of governments, business entities or securities between issuers and investors, and ensuring a common standard of measuring the creditworthiness. Credit rating agencies are engaged in the sale of opinions about creditworthiness in the form of an alphabetical letter or symbol, which represents a unique ranking. Their opinion is not a guarantee, but it largely dictates the costs and the profits in the financial markets. This work shows the influence of credit rating agencies to investors and publishers, and their role as market regulators. Conflict of interest is a fundamental problem, which is caused by their way of doing business, it arises from their two main objectives: profit and market regulation, which will be explored in the work. Looking back in history credit rating agencies often selected goal of making a profit at the cost of market regulation, therefore they have caused the collapse of the market, and founded themselves criticized by the public.
Full Text Available The objective of this paper is to demonstrate that one of the therapies to achieve sustainability and organizational change in the context of current challenges in the national economies is sustainable crediting. The research method is based on a survey of 30 commercial companies from various fields of activity that have or have not implemented, at the leadership level, the concept of sustainable crediting. The data collecting and processing approach has resulted in the determination of the main economic-financial indicators for a period of 5 years, indicators used by banks in relation with the credited organizations. The main results show that companies that have implemented the sustainable crediting concept are more able to achieve sustainability in their developed activity, as well as organizational change with positive effects on their business and on the company as a whole. The concept of sustainable crediting implies the capitalization of the commercial companies, the increase of the loan portfolio quality, the achievement of the financial balance and environmental protection
Smith, Temple Day
Few students leave college with a plan for paying off their debt. Starting a career inundated with student loans and credit card debt burdens is a reality many college students face today. In the wake of graduation coming to terms with the consequences of credit card debt is stressful for many students. This dissertation observes the relationship…
Jézabel Couppey-Soubeyran; Jérôme Héricourt
Using a database of more than 1,300 firms from six countries in the MENA region, we study the impact of financial development on the relationship between trade credit on the one hand and bank credit access and firm-level characteristics, especially financial health, on the other hand. Trade credit use increases with the difficulty for gaining access to bank credit, and indicators of the quality of the firm's financial structure negatively influence the use of trade credit. Additional investig...
..., Accumulated deferred investment tax credits. 367.2550 Section 367.2550 Conservation of Power and Water... 255, Accumulated deferred investment tax credits. This account must be credited with all investment tax credits deferred by companies that have elected to follow deferral accounting, partial or full...
ANCA NICOLETA GHEORGHE
Full Text Available The credit agreement meaning is trust. It involves a psychological relationship between two or more persons, characterized by predictability the third one involving present or future action on the status of a particular person.This relationship is psychological, in a certain context, social relationship and may take legal meanings. If at the beginning, people borrowed food and tools, later borrowed money to buy everything you wanted. Financial lending institution has become very popular, creating a group of people who have dealt with this service. Over time, this community has turned into banks. Being originally a loan of money covered by the Civil Code, the credit is used daily by both individuals and by professionals, becoming an engine of capitalist society. Unprecedented expansion of this contract led to a strict control of public authorities and subsequent legislative interventions, the articles of the Civil Code is supplemented by regulations governing the progressive banking, legal interest, namely consumer credit. Under the credit agreement, the economic situation of the parties is not equal, one party is disadvantaged in comparison to the other, protecting the disadvantaged part of the legislature making it a target in credit operations. In French doctrine, consumer credit has been praised as “a contract of all pleasures”; but at the same time “an agreement of all risks”.
... 25 Indians 1 2010-04-01 2010-04-01 false Unauthorized use of credit cards. 11.422 Section 11.422... LAW AND ORDER CODE Criminal Offenses § 11.422 Unauthorized use of credit cards. (a) A person commits a misdemeanor if he or she uses a credit card for the purpose of obtaining property or services with knowledge...
Carpenter, Dick M., II; Ross, John K.
One of the oldest and more popular forms of school choice in the United States is educational tax credits. Like many other types of school choice, educational tax credits enable parents to send their children to the K-12 school of their choice, public or private, religious or non-religious. One type of educational tax credits, tax-credit…
Holly J. Bowen
Full Text Available It is common practice for psychology researchers to recruit their sample of participants from the undergraduate student population. Participants are typically compensated with partial course credit or a monetary payment. The current study reveals that the motivation to participate in a study (cash versus course credit can relate to performance on a behavioral task of rewarded memory. In Experiment 1, undergraduate participants were recruited and compensated for their time with either partial course credit or cash. Potential performance-based cash rewards were earned during a rewarded memory task, where correct recognition of half the stimuli was worth a high reward and the other half a low reward. Memory for high reward items was better than low reward items, but only for the cash group. The credit group did not modulate their performance based on the value of the stimuli. In Experiment 2, undergraduates were compensated with partial course credit for their time and given the opportunity to earn a bonus credit for performance on a memory test. The findings were in line with the results from the credit group of Experiment 1, suggesting that the modulation of performance in the cash group of Experiment 1 cannot be accounted for by congruency between motivation to participate and reward for task performance. Of methodological importance, the findings indicate that recruiting and compensating participants with cash versus course credit may influence the results on a rewarded memory task. This factor should be taken into consideration in studies of reward motivation.
Pinto, Mary Beth; Parente, Diane H.; Palmer, Todd Starr
Examines the relationship between credit card usage, employment, and academic performance among a group of college students with credit cards. Results reveal that the students differed significantly in the level of anxiety felt from carrying debt, perceived need to work, and perceived impact of employment on academic performance. (Contains 57…
Examines tuition tax credit programs in framework of Adam Smith's ideas on the economic impact of established churches. Finds that tuition tax credits would amount to state expenditures to relieve the financial burden of parochial school parents and would allow churches to invest commercially to maintain their charitable functions. (JW)
... (UST) Financial Responsibility § 280.99 Letter of credit. (a) An owner or operator may satisfy the... brackets are to be replaced with the relevant information and the brackets deleted: Irrevocable Standby.... We certify that the wording of this letter of credit is identical to the wording specified in 40 CFR...
Ashcraft, A.; Goldsmith-Pinkham, P.; Vickery, J.
We study credit ratings on subprime and Alt-A mortgage-backed securities (MBS) deals issued between 2001 and 2007, the period leading up to the subprime crisis. The fraction of highly-rated securities in each deal is decreasing in mortgage credit risk (measured either ex-ante or ex-post), suggesting
... consumer credit report stating the credit accounts and payment history of the borrower and of any co-maker... months or more. (c) Evidence of delinquency, default or misrepresentation. Except with the prior approval...
Samarina, Anna; Zhang, Lu; Bezemer, Dirk
This paper examines effects of the euro introduction on credit cycle coherence in the euro-zone through six channels. We construct and describe credit cycles for total bank credit, household mortgages and non-financial business loans for 16 EMU economies over 1990-2015. Credit cycle coherence is
Full Text Available Introduction. The active development of integration processes causes the necessity of applying high-level approaches to management of the banking system, which is an essential part of the financial sector. Due to the importance of credit operations in the portfolio of banking assets, development of efficient and flexible credit management system is the basis for financial and market stability of banks. Purpose. Analyze the condition of the credit portfolio of banking institutions under the influence of economic processes and make conclusions and recommendations about the effectiveness of managing the bank’s credit portfolio and generalize ways of improving the structure and quality of the bank’s credit portfolio. Results. Over the last six years, the quality of the credit portfolio has become worse because of the bad debts growing and, as a result, decreasing in revenues. The calculated coefficient of management efficiency of a credit portfolio shows the dependence of this indicator on the value of risk and yield. In order to confirm the dependence and determine the degree of influence of these indicators on the efficiency of management of a loan portfolio, an economic-mathematical model was constructed on the example of both individual banks and the banking system as a whole. Detected dependence of factors is quite logical, therefore, the model can be recommended for practical use. Conclusion. Using this method of determining the management efficiency of a credit portfolio will allow the management of the bank to make reasonable decisions. It will allow the possibility of forming a more justified credit portfolio, taking into account not only the profitability, but also the real level of risk of credit operations.
General Atomics (GA) has designed two legal weight truck (LWT) casks, the GA-4 and GA-9, to carry four pressurized-water-reactor (PWR) and nine boiling-water-reactor (BWR) fuel assemblies, respectively. GA plans to submit applications for certification to the US Nuclear Regulatory Commission (NRC) for the two casks in mid-1993. GA will include burnup credit analysis in the Safety Analysis Report for Packaging (SARP) for the GA-4 Cask. By including burnup credit in the criticality safety analysis for PWR fuels with initial enrichments above 3% U-235, public and occupation risks are reduced and cost savings are realized. The GA approach to burnup credit analysis incorporates the information produced in the US Department of Energy Burnup Credit Program. This paper describes the application of burnup credit to the criticality control design of the GA-4 Cask
Moldavska Olena V.
Full Text Available The article conducts an economic and statistical analysis of the modern state of credit activity of Ukrainian banks and main tendencies of its development. It justifies urgency of the statistical study of credit activity of banks. It offers a complex system of assessment of bank lending at two levels: the level of the banking system and the level of an individual bank. The use of the system analysis allows reflection of interconnection between effectiveness of functioning of the banking system and quality of the credit portfolio. The article considers main aspects of management of quality of the credit portfolio – level of troubled debt and credit risk. The article touches the problem of adequate quantitative assessment of troubled loans in the credit portfolios of banks, since the methodologies of its calculation used by the National Bank of Ukraine and international rating agencies are quite different. The article presents a system of methods of management of credit risk, both theoretically and providing specific examples, in the context of prevention of occurrence of risk situations or elimination of their consequences.
Heydt-Benjamin, Thomas S.; Bailey, Daniel V.; Fu, Kevin; Juels, Ari; O'Hare, Tom
RFID-enabled credit cards are widely deployed in the United States and other countries, but no public study has thoroughly analyzed the mechanisms that provide both security and privacy. Using samples from a variety of RFID-enabled credit cards, our study observes that (1) the cardholder's name and often credit card number and expiration are leaked in plaintext to unauthenticated readers, (2) our homemade device costing around 150 effectively clones one type of skimmed cards thus providing a proof-of-concept implementation for the RF replay attack, (3) information revealed by the RFID transmission cross contaminates the security of RFID and non-RFID payment contexts, and (4) RFID-enabled credit cards are susceptible in various degrees to a range of other traditional RFID attacks such as skimming and relaying.
Full Text Available This paper introduces a preliminary analysis of the correlations between trade credit and some selected measures of financial performance for a sample of 958 firms acting in the construction sector. The examined period covers 2004-2013. The sample derived from Amadeus database contains firms that have sold and bought on credit. Results showed that larger firms offered and used more credit than counterparties. Firms offered and used in same time credit, but not in same level. Firms with higher return on assets and profit margin used and offered less credit from suppliers, respectively to clients. Moreover, more liquid firms used less trade payables.
... Markets Tax Credit Non-Real Estate Investments AGENCY: Internal Revenue Service (IRS), Treasury. ACTION... communities. The final regulations affect taxpayers claiming the new markets tax credit and businesses in low... 45D(a)(1), a taxpayer may claim a new markets tax credit on certain credit allowance dates described...
Gramatikov, P.; Iliev, I.
The European Commission established a mechanism of credit lines to integrate more quickly the Bulgarian economy to the open international markets. Thereby it was enabled certain Bulgarian banks to provide grant loans to private companies in the industrial sector for projects of improvement of the energy efficiency of their production. The Bulgarian experience in using of two European credit lines and their role in the current economic crisis is presented in this paper. (authors)
... 5 Administrative Personnel 1 2010-01-01 2010-01-01 false Creditable travel time. 550.1404 Section... ADMINISTRATION (GENERAL) Compensatory Time Off for Travel § 550.1404 Creditable travel time. (a) General. Subject... off for time in a travel status if— (1) The employee is required to travel away from the official duty...
Daniel Paravisini; Antoinette Schoar
We design a randomized controlled trial to evaluate the adoption of credit scoring with a bank that uses soft information in small businesses lending. We find that credit scores improve the productivity of credit committees, reduce managerial involvement in the loan approval process, and increase the profitability of lending. Credit committee members' effort and output also increase when they anticipate the score becoming available, indicating that scores improve incentives to use existing in...
... 26 Internal Revenue 1 2010-04-01 2010-04-01 true Lifetime Learning Credit. 1.25A-4 Section 1.25A-4... Rates During A Taxable Year § 1.25A-4 Lifetime Learning Credit. (a) Amount of the credit—(1) Taxable years beginning before January 1, 2003. Subject to the phaseout of the education tax credit described in...
Cebi, Merve; Woodbury, Stephen A
The Omnibus Budget Reconciliation Act of 1990 enacted a refundable tax credit for low-income working families who purchased health insurance coverage for their children. This health insurance tax credit (HITC) existed during tax years 1991, 1992, and 1993, and was then rescinded. A difference-in-differences estimator applied to Current Population Survey data suggests that adoption of the HITC, along with accompanying increases in the Earned Income Tax Credit (EITC), was associated with a relative increase of about 4.7 percentage points in the private health insurance coverage of working single mothers with high school or less education. Also, a difference-in-difference-in-differences estimator, which attempts to net out the possible influence of the EITC increases but which requires strong assumptions, suggests that the HITC was responsible for about three-quarters (3.6 percentage points) of the total increase. The latter estimate implies a price elasticity of health insurance take-up of -0.42. Copyright © 2013 John Wiley & Sons, Ltd.
Allen, J.; Chang, C.; Estep, P.; Huang, J.; Liu, J.; Marquez, M.; Mestad, S.; Pan, J.; Traversat, B.
Large and costly detectors will be constructed during the next few years to study the interactions produced by the SSC. Efficient, cost-effective designs for these detectors will require careful thought and planning. Because it is not possible to test fully a proposed design in a scaled-down version, the adequacy of a proposed design will be determined by a detailed computer model of the detectors. Physics and detector simulations will be performed on the computer model using high-powered computing system at the Physics Detector Simulation Facility (PDSF). The SSCL has particular computing requirements for high-energy physics (HEP) Monte Carlo calculations for the simulation of SSCL physics and detectors. The numerical calculations to be performed in each simulation are lengthy and detailed; they could require many more months per run on a VAX 11/780 computer and may produce several gigabytes of data per run. Consequently, a distributed computing environment of several networked high-speed computing engines is envisioned to meet these needs. These networked computers will form the basis of a centralized facility for SSCL physics and detector simulation work. Our computer planning groups have determined that the most efficient, cost-effective way to provide these high-performance computing resources at this time is with RISC-based UNIX workstations. The modeling and simulation application software that will run on the computing system is usually written by physicists in FORTRAN language and may need thousands of hours of supercomputing time. The system software is the ''glue'' which integrates the distributed workstations and allows them to be managed as a single entity. This report will address the computing strategy for the SSC
Dean, Lorraine T; Schmitz, Kathryn H; Frick, Kevin D; Nicholas, Lauren H; Zhang, Yuehan; Subramanian, S V; Visvanathan, Kala
Consumer credit may reflect financial hardship that patients face due to cancer treatment, which in turn may impact ability to manage health after cancer; however, credit's relationship to economic burden and health after cancer has not been evaluated. From May to September 2015, 123 women with a history of breast cancer residing in Pennsylvania or New Jersey completed a cross-sectional survey of demographics, socioeconomic position, comorbidities, SF-12 self-rated health, economic burden since cancer diagnosis, psychosocial stress, and self-reported (poor to excellent) credit quality. Ordinal logistic regression evaluated credit's contribution to economic burden and self-rated health. Mean respondent age was 64 years. Mean year from diagnosis was 11.5. Forty percent of respondents were Black or Other and 60% were White. Twenty-four percent self-reported poor credit, and 76% reported good to excellent credit quality. In adjusted models, changing income, using savings, borrowing money, and being unable to purchase a health need since cancer were associated with poorer credit. Better credit was associated with 7.72 ([1.22, 14.20], p = 0.02) higher physical health t-score, and a - 2.00 ([- 3.92, - 0.09], p = 0.04) point change in psychosocial stress. This exploratory analysis establishes the premise for consumer credit as a marker of economic burden and health for breast cancer survivors. Future work should validate these findings in larger samples and for other health conditions. Stabilizing and monitoring consumer credit may be a potential intervention point for mitigating economic burden after breast cancer.
Kevin Rackstraw, John Palmisano
OAK-B135 This paper focuses on credits that are derived from wind energy technology, but the same concepts apply to other renewable energy technologies as well. Credit trading can be applied to a wide variety of policies, programs and private market activities and represents a means of tapping into revenue streams that heretofore have largely excluded wind and other renewables. In addition, credit trading can help to ''create'' new revenue streams for wind and other renewables by helping to grow new markets.
Tsai, Sang-Bing; Li, Guodong; Wu, Chia-Huei; Zheng, Yuxiang; Wang, Jiangtao
Under the rapid change of the global financial environment, the risk control of the credit granting is viewed as the foremost task to each bank. With the impact one by one from financial crisis and European debt crisis, the steady bank business is also facing the severe challenge. Banks approve the credits for their customers and then make money from the interest. Credit granting is not only the primary job but also the main source of income. The quality of credit granting concerns not just the reclaims of creditor's rights; it also affects the successful running of banks. To enhance the reliability and usefulness of bank credit risk assessment, we first will delve in the facets and indexes in the bank credit risk assessment. Then, we will examine the different dimensions of cause-effect relationships and correlations in the assessment process. Finally, the study focuses on how to raise the functions and benefits of the bank credit risk assessment. In those five credit risk evaluation dimensions, A "optional capability" and D "competitiveness" are of high relation and high prominence among those dimensions, influencing other items obviously. By actively focusing on these two dimensions and improving their credit risk assessment ability will solve the foremost problems and also solve other facets of credit risk assessment problems at the same time.
... Certain Credit Card Complaint Data AGENCY: Bureau of Consumer Financial Protection. ACTION: Notice of... Bureau plans to exercise its discretion to publicly disclose certain credit card complaint data that do not include personally identifiable information. The Bureau receives credit card complaints from...
... DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT [Docket No. FR-5448-N-01] Tax Credit Assistance... the Reallocation of Tax Credit Assistance Program (TCAP) funds. This funding opportunity makes approximately $16 million available to assist housing projects that received Low Income Housing Tax Credit...
Flávia Cruz de Souza Murcia
Full Text Available This study attempts to identify the determinant factors of credit rating in Brazil. The relevance of this proposal is based on the importance of the subject as well as the uniqueness of the Brazilian market. As for originality, the great majority of previous studies regarding credit rating have been developed in the US, UK and Australia; therefore the effect on other markets is still unclear, especially in emerging markets, like Brazil. We’ve used a Generalized Estimating Equations (GEE model considering a panel structure with a categorical dependent variable (credit rating and ten independent variables: leverage, profitability, size, financial coverage, growth, liquidity, corporate governance, control, financial market performance and internationalization. The sample consisted of 153 rating observations during the period of 1997-2011 for a total of 49 public firms operating in the Brazilian Market. Results showed that leverage and internationalization are significant at the 1% level in explaining credit rating. Performance in the financial market was significant at a 5% level; profitability and growth were also statistically significant, but at a 10% significance level.
Full Text Available As the banks have tightened lending requirements, companies look for alternative sources of external funding. One of such is bonds issue. Unfortunately, corporate bonds issue as a source of funding is rare in Lithuania. This occurs because companies face with a lack of information, investors fear to take on credit risk. Credit risk is defined as a borrower’s failure to meet its obligation. Investors, in order to avoid credit risk, have to assess the state of the companies. The goal of the article is to determine the most informative methods of credit risk assessment. The article summarizes corporate lending sources, analyzes corporate default causes and credit risk assessment methods. The study based on the SWOT analysis shows that investors before making an investment decision should evaluate both the business risk,using qualitative method CAMPARI, and the financial risk, using financial ratio analysis.
This article introduces the status quo of consumer credit business in China’s agricultural bank,indicating that the scale of China’s consumer credit business is expanded year by year;the growth of consumer credit business slows down;housing loans grow rapidly.We analyze issues concerning development of consumer credit business in agricultural bank as follows:single variety of consumer credit business makes the operating scope narrow;the formality of consumer credit business is trivial,abating consumers’ will to borrow;consumers’ consumer attitudes are stale,yet to be further changed;the loan interest of consumer credit is beyond the majority of consumers’ actual ability to pay;the existing regulations and systems are not sound;the risk prevention mechanism is not perfect.Based on this,we put forward the following countermeasures and proposals for further improving consumer credit business in China’s agricultural bank:first,formulate reasonable marketing strategy of consumer credit business;second,establish and improve the internal management mechanism;third,establish and improve risk assessment system;fourth,improve consumer credit legal system.
Glen Y. Wilson
Full Text Available This article examines the results from the first year (1998 of the Arizona Education Tax Credit program. The tax credit law allows individuals a dollar- for-dollar tax credit of $500 for donations to private schools and a dollar-for-dollar tax credit of $200 for donations to public schools. Although one justification for this statute was that it would help lower income students, the primary beneficiaries of this program tend to be the relatively well off. The author concludes that Arizona's tax credit law increases educational funding inequity in Arizona. Data for 1999, only recently made available, show a 159.1 percent increase in total contributions and an exacerbation of the trends noted here.
... differences in credit risk and administrative costs to the Farm Credit Bank or agricultural credit bank. (c... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Equitable treatment of OFIs and Farm Credit System associations. 614.4590 Section 614.4590 Banks and Banking FARM CREDIT ADMINISTRATION FARM CREDIT...
Di Novi, Cinzia; Marenzi, Anna; Rizzi, Dino
In several countries, personal income tax permits tax credits for out-of-pocket healthcare expenditure. Tax credits benefit taxpayers at all income levels by reducing their net tax liability and modify the price of out-of-pocket expenditure. To the extent that consumer demand is price elastic, they may influence the amount of eligible healthcare expenditure for which taxpayers may claim a credit. These effects influence, in turn, income distributions and taxpayers' health status and therefore income-related inequality in health. Redistributive consequences of tax credits have been widely investigated. However, little is known about the ability of tax credits to alleviate health inequality. In this paper, we study the potential effects that tax credits for health expenses may have on income-related inequality in health status with reference to the Italian institutional setting. The analysis is performed using a tax-benefit microsimulation model that reproduces the personal income tax and incorporates taxpayers' behavioral responses to changes in tax credit rate. Our results suggest that the current healthcare tax credit design tends to favor the richest part of the population.
Full Text Available In the period before the crisis, Montenegro experienced a rapid credit growth, which coincided with the privatization of several banks and was followed by the entry of foreign banking groups, amplifying the banks’ lending process and increasing competition in this sector. This paper focuses on identification and estimation of determinants of credit growth in Montenegro, exploring both demand and supply side factors, and particularly paying attention to supply factors. Our findings confirm that positive economic developments and an increase in banks’ deposit potential lead to higher credit growth. Furthermore, our findings emphasize that the banking system soundness is decisive for promoting further bank’s lending activities. We provide evidence that the weakening of banks’ balance sheets, in terms of high non-performing loans and low solvency ratio, has a negative effect on credit supply.
Lancaster, D.; Fuentes, E.; Kang, C.; Rivard, D.
Owners of PWRs that are shutdown prior to resolution of interim storage or permanent disposal issues have to make difficult decisions on what to do with their spent fuel. Maine Yankee is currently evaluating multiple options for spent fuel storage. Their spent fuel pool has 1,434 assemblies. In order to evaluate the value to a utility of actinide-only burnup credit, analysis of the number of canisters required with and without burnup credit was made. In order to perform the analysis, loading curves were developed for the Holtec Hi-Star 100/MPC-32. The MPC-32 is hoped to be representative of future burnup credit designs from many vendors. The loading curves were generated using the actinide-only burnup credit currently under NRC review. The canister was analyzed for full loading (32 assemblies) and with partial loadings of 30 and 28 assemblies. If no burnup credit is used the maximum capacity was assumed to be 24 assemblies. this reduced capacity is due to the space required for flux traps which are needed to sufficiently reduce the canister reactivity for the fresh fuel assumption. Without burnup credit the 1,343 assemblies would require 60 canisters. If all the fuel could be loaded into the 32 assembly canisters only 45 canisters would be required. Although the actinide-only burnup credit approach is very conservative, the total number of canisters required is only 47 which is only two short of the minimum possible number of canisters. The utility is expected to buy the canister and the storage overpack. A reasonable cost estimate for the canister plus overpack is $500,000. Actinide-only burnup credit would save 13 canisters and overpacks which is a savings of about $6.5 million. This savings is somewhat reduced since burnup credit requires a verification measurement of burnup. The measurement costs for these assemblies can be estimated as about $1 million. The net savings would be $5.5 million
Spence, John C; Holt, Nicholas L; Dutove, Julia K; Carson, Valerie
The Government of Canada implemented a Children's Fitness Tax Credit (CFTC) in 2007 which allows a non-refundable tax credit of up to $500 to register a child in an eligible physical activity (PA) program. The purposes of this study were to assess whether the awareness, uptake, and perceived effectiveness of this tax credit varied by household income among Canadian parents. An internet-based panel survey was conducted in March 2009 with a representative sample of 2135 Canadians. Of those, parents with children aged 2 to 18 years of age (n = 1004) were asked if their child was involved in organized PA programs (including dance and sports), the associated costs to register their child in these programs, awareness of the CFTC, if they had claimed the CFTC for the tax year 2007, and whether they planned to claim it in the upcoming year. Parents were also asked if they believed the CFTC has lead to their child being more involved in PA programs. Among parents, 54.4% stated their child was in organized PA and 55.5% were aware of the CFTC. Parents in the lowest income quartile were significantly less aware and less likely to claim the CFTC than other income groups. Among parents who had claimed the CFTC, few (15.6%) believed it had increased their child's participation in PA programs. More than half of Canadian parents with children have claimed the CFTC. However, the tax credit appears to benefit the wealthier families in Canada.
Acknowledges the good work of private schools but resists the provision of further direct or indirect government aid to these schools. Argues that tax credits will adversely affect public education and American society. (Author/WD)
Dunwoody Lentz, C.; Werner, B.
The California Air Resources Board has developed guidance for the generation and use of mobil source emission reduction credits. Mobil source credits can be used to improve air quality, or to mitigate increases in emissions associated with industrial and non-industrial sources. They are created by programs which reduce mobile source emission beyond the reductions required by federal, state, and local laws or air quality attainment plans. Significant amounts of credit can be generated by some types of programs which reduce mobile source emissions of oxides of nitrogen (NO x ) and reactive organic gases (ROG). Mobile source credit programs must be carefully structured to ensure that emission reductions are real, accurately quantified, enforceable, and have a defined life. Three potentially feasible programs for the creation of mobile source credits include accelerated retirement of older vehicles, purchase of low-emission buses, and purchase of zero-emission vehicles. These programs are evaluated for their ability to generate credit and to assess their cost effectiveness. Based on the examples presented, two methods of generating mobile source credits, the accelerated retirement of older vehicles and the purchase of low-emission buses, appear to be cost-effective when compared to other emission control measures
Cai Wenjia; Wang Can; Chen Jining; Wang Siqiang
Based on the review of the basic design of the sectoral crediting mechanism (SCM) – a promising option for developing countries’ emission reduction commitments – this paper analyzes five important practical issues for China to solve before participating in SCM, which include (1) difficulties in determining a crediting baseline (2) the unsolved over-supply problem in the carbon market (3) the very likely “carbon credits falling short of mitigation costs” problem (4) the immature market-oriented price system jeopardizing the success of motivation incentives and (5) inadequate capacity building. Corresponding suggestions or compromise solutions are given after a discussion of each issue. It is also recommended that in order to witness SCM come into being, researchers and negotiators should endeavor to solve the practical issues that SCM meets now, bearing in mind the balance of interests of both developing and developed countries. Finally we believe that SCM’s political barriers can be overcome when technical, economic institutional and capacity problems are solved. - Highlights: ► Latest developments in Sectoral Crediting Mechanism design have been reviewed. ► Ten years would be an ideal duration to adjust sectoral crediting baseline in China. ► Specific sectors could be selected to solve the carbon credits over-supply problem. ► SCM credits may come short of the mitigation costs, claiming a rising carbon price. ► Pricing system in China’s electricity sector makes it not a good candidate for SCM.
... replaced minimum rating requirements with a requirement that the federal credit union (FCU) or corporate credit union (corporate) conduct and document a credit analysis demonstrating that the issuer of the... from active trading); and Asset class-specific factors (e.g., in the case of structured finance...
... Regarding Credit Card Market AGENCY: Bureau of Consumer Financial Protection. ACTION: Notice and request for information. SUMMARY: Section 502(a) of the Credit Card Accountability Responsibility and Disclosure Act of... review (Review) of the consumer credit card market, within the limits of its existing resources available...
... Policy, (202) 874-4428; or Kevin Russell, Director, Retail Credit Risk, (202) 874-5170, Office of the...] Guidance on Deposit-Related Consumer Credit Products AGENCY: Office of the Comptroller of the Currency... principles of safe and sound banking practices in connection with deposit-related consumer credit products...
... 47 Telecommunication 2 2010-10-01 2010-10-01 false Unamortized nonoperating investment tax credits... Sheet Accounts § 32.4330 Unamortized nonoperating investment tax credits—net. (a) This account shall be credited and Account 7400, Nonoperating Taxes, shall be debited with investment tax credits generated from...
Spinella, Marcello; Lester, David; Yang, Bijou
In a sample of 139 community residents, credit card ownership was associated with age, sex, income, attitudes toward credit cards and toward money, and scores on a verbal measure of prefrontal cortical dysfunction, supporting a neuroeconomic approach to economic decision-making.
Johannes I. F. Henning
Full Text Available Farmers use credit from commercial credit providers to finance production activities. Commercial credit providers have to predict the financial sustainability of the enterprise to ensure that the borrower will have the ability to repay the loan. A Delphi study was conducted to explore what factors are used as indicators of loan-repayment ability of farmers. The objective was not only to identify factors that are currently considered, but also to identify other personal attributes that may improve the accuracy in predicting the repayment ability of potential borrowers. The Delphi was applied to a panel consisting of nine credit analysts and credit managers from a commercial credit provider in South Africa. The results indicate that the current and past financial performance, account standing, collateral, and credit record of the farm are very important in the assessment of applications in terms of financial performance. Experience and the success factors compared to competitors were found to be important, while age and education/qualification are regarded as less important in predicting repayment ability. The results also show that, although not currently objectively included in credit evaluations, credit analysis regards leadership and human relations; commitment and confidence; internal locus of control; self-efficacy; calculated risk taking; need for achievement; and opportunity seeking as important indicators of the ability of potential borrows to repay their loans. Thus, credit analysts and managers also regard management abilities and entrepreneurial characteristics of potential borrowers to be good indicators of repayment ability. Results from this research provide new indicator factors that can be used to extend existing credit evaluation instruments in order to more accurately predict repayment ability.
van Landschoot, A.
Although there is a broad literature on structural credit risk models, there has been little empirical testing of these models.In this paper we examine the term structure of credit spreads on euro corporate bonds and the empirical validation of structural credit risk models.The latter provide a
The role of credit cards in personal finance has increased dramatically over the past two decades. Complex interest computation methods and additional fees often boost the price of credit card loans and help make credit cards the most profitable type of consumer loan for many lenders. (Author/JOW)
... Commissioner for collection under the letter of credit. In the event a demand for payment thereunder is not... credit. 200.63 Section 200.63 Housing and Urban Development Regulations Relating to Housing and Urban... Required deposits and letters of credit. (a) Deposits. Where the Commissioner requires the mortgagor to...
Ashlock, Tara; Rimal, Arbindra
The study analyzed the demand for farm credit in Missouri. Results suggested that financial leverage, government payments, occupation of farm operators, average farm acreages, value of land and buildings and types of farm operation had significant influence on farm credit usage. The study highlighted the potential for credit rationing.
..., Order No. 741, to amend its regulations to improve the management of risk and use of credit in the... discriminatory or preferential. The management of risk and credit requires a balance between protecting the... are less of a credit risk because their bond resolutions give explicit payment [[Page 10494
... on and disclose the key factors provided with the scores purchased from consumer reporting agencies... making the credit decision, the creditor must disclose that score and certain information relating to the... following disclosures: (1) the credit score \\4\\ used by the person in making the credit decision; (2) the...
... taxes-credit. 256.411 Section 256.411 Commodity and Securities Exchanges SECURITIES AND EXCHANGE... deferred income taxes—credit. This account shall be credited and Accumulated Deferred Income Taxes debited with an amount equal to the portion of taxes on income payable for the year which is attributable to a...
Efraim Benmelech; Jennifer Dlugosz
Collateralized Loan Obligations (CLOs) were one of the largest and fastest growing segments of the structured finance market, fueling the 2003-2007 boom in syndicated loans and leveraged buyouts. The credit crisis brought CLO issuance to a halt, and as a result the leveraged loan market dried up. Similar to other structured finance products, investors in CLOs rely heavily on credit rating provided by the rating agencies, yet little is known about CLO rating practices. This paper attempts to f...
David E. Allen
Full Text Available This paper compares credit models that incorporate a market component to those that are solely customerbased. We found that customer-only models understated credit risk during the Global Financial Crisis (GFCand do not adequately differentiate between industries. Models that focus too heavily on the market canoverstate credit risk in times of high volatility. We recommend a two-factor modelling approach thatincorporates both customer and market risk to improve the accuracy of credit-risk measurement as well asassist lenders with early risk detection.
Nikita V. Artamonov
Full Text Available One of the principal problem in contemporary macroeconomics is concerned with factors increasing or decreasing economic dynamics. The mainstream approach is based on neoclassical assumptions, but recently new approaches appear mostly based on new Keynesian concepts. In present time the influence of monetary market and credit instruments become more and more significant. Credit resources of banking and financial structures can affect and distort to reallocation of resources for national and even for global economic. In present paper an empiric and econometric analysis for some macroeconometric and monetary indices for Russian Federation is done. An econometrical models describing the influence of credit variables onto real GDP is estimated. It is shown that in short-term periods changes in credit variables do influence significantly onto GDP. It is shown that on short-term periods changes in money aggregate M2 brings influence (through credit variables onto national output. As well it is shown that changes in short-term interest rate brings significant negative influence onto real output. Impulse response functions for GDP on shocks of credit variables, monetary base and short-term interest rate are evaluated. For the present study of credit cycles and their impact to real business cycles statistical data (quarterly time series on the following factors for Russian Federation are collected: nominal and real GDP, monetary base M2, short-term interest rate, long-term interest rate (10-year treasuries bill rate, total debt outstanding. All time series are seasonally adjusted and collected for the period 2004 Q1 - 2013 Q2. All interest rates are adjusted for inflation (i.e. we deal with real interest rates. The investigation of long-term relationship for the factors under consideration are based on integration. It is important to note that in the present paper all econometric models are estimated on "pure" statistical data, while in many research
This report is aimed, after a brief recall of physics and technologic perspectives of Tore Supra, at giving a detailed description of the basic machine; details of each component are defined. Volume 1 is specifically concerned with the general aspects of Tore Supra and the toroidal field system [fr
... Health Insurance Premium Tax Credit AGENCY: Internal Revenue Service (IRS), Treasury. ACTION: Notice of... relating to the health insurance premium tax credit enacted by the Patient Protection and Affordable Care... be able to purchase private health insurance through State-based competitive marketplaces called...
This paper provides new insights into the relationship between the supply of credit and the macroeconomy. We present evidence that credit shocks constitute shocks to aggregate supply in that they have a permanent effect on output and cause inflation to rise in the short term. Our results also suggest that the effects on aggregate supply have grown stronger in recent decades.
International Committee on Credit Reporting
The general principles for credit reporting were issued by the World Bank in September 2011. Since then, the World Bank and the international committee on credit reporting (ICCR) have been leading efforts towards the implementation of the general principles worldwide. This report is one of the concrete outputs of the work following the general principles. It addresses one of the most signi...
Full Text Available This paper follows to highlight the link between the results obtained applying discriminant analysis and lending decision. For this purpose, we have carried out the research on a sample of 24 Romanian private companies, pertaining to 12 different economic sectors, from I and II categories of Bucharest Stock Exchange, for the period 2010-2012. Our study works with two popular bankruptcy risk’s prediction models, the Altman model and the Anghel model. We have double-checked and confirmed the results of our research by comparing the results from applying the two fore-mentioned models as well as by checking existing debt commitments of each analyzed company to credit institutions during the 2010-2012 period. The aim of this paper was the classification of studied companies into potential bankrupt and non-bankrupt, to assist credit institutions in their decision to grant credit, understanding the approval or rejection algorithm of loan applications and even help potential investors in these ompanies.
The challenges facing the Canadian government in implementing a green house gas (GHG) emissions trading program were discussed. The government of Canada is proposing to establish a program offering credit for early action on GHG reduction. However, the program is proving to be difficult to design because Canada's national implementation strategy for climate change has not yet been defined. The program is intended to reveal how emitters can invest in GHG reduction now, and use them against future regulations limiting emissions. The intention is to design the program on the principle that any company which decreases GHG emissions below its 'business-as-usual' level will receive a credit which can later be sold to another source which wants to offset its emissions. Nevertheless, the government is looking for real reductions in the sense that it is trying to bend the 'business-as-usual' forecast down towards the Kyoto targets, and is trying to ensure that the system is a rigorous one before any credits are issued
... of credit to nonpolitical debtors that are of similar risk and size of obligation. (b) Incorporated... similar to extensions of credit to nonpolitical debtors that are of similar risk and size of obligation... 11 Federal Elections 1 2010-01-01 2010-01-01 false Extensions of credit by commercial vendors. 116...
Full Text Available This study was aimed to gain insights and tested the factors that influence credit cards usage in university community of UPI through Theory of Planned Behavior model approach. Using Path Analysis to explain the direct and indirect influence of attitude, subjective norm and behavioral control to intention and behavior of credit card usage. The results showed all respondents have a positive attitude towards credit cards usage, with high influence of subjective norm, high behavior control, high intention to use credit cards and all respondents used credit cards wisely. There was positive and significant effect either simultaneously or partially between behavioral attitudes, subjective norms, and behavior control toward the intention to use credit card. The partial test results showed behavioral attitude has the greatest influence on the intention to use credit card. There was a positive and significant influence both simultaneously and partially between behavioral attitudes, subjective norms, and behavioral control on default-risk debt behavior. The partial results showed that attitude gives the greatest influence on default debt risk behavior. The result also proved there was a positive and significant influence of the intention to use credit card on default debt risk behavior.
Vojtek, Martin; Kočenda, Evžen
Roč. 56, 3-4 (2006), s. 152-167 ISSN 0015-1920 R&D Projects: GA ČR GA402/05/0931 Institutional research plan: CEZ:AV0Z70850503 Keywords : banking sector * credit scoring * discrimination analysis Subject RIV: AH - Economics Impact factor: 0.190, year: 2006 http://journal.fsv.cuni.cz/storage/1050_s_152_167.pdf
Gapko, Petr; Šmíd, Martin
Roč. 62, č. 2 (2012), s. 125-140 ISSN 0015-1920 R&D Projects: GA ČR GD402/09/H045; GA ČR GA402/09/0965 Grant - others:Univerzita Karlova(CZ) GAUK 46108 Institutional research plan: CEZ:AV0Z10750506 Keywords : credit risk * probability of default * loss given default * credit loss * credit loss distribution * Basel II Subject RIV: AH - Economics Impact factor: 0.340, year: 2012 http://library.utia.cas.cz/separaty/2012/E/smid-dynamic multi-factor credit risk model with fat-tailed factors.pdf
Full Text Available The article presents issues deserving special attention in the area of auditing the financial statements of credit institution. Without a doubt, these are the financial instruments, including credit exposures. To properly audit these instruments it is required to verify the accuracy of the valuation. Such verification in the case of credit exposures is preceded by appropriate category qualification followed by impairment write-off determined considering the established security. Thus, the audit process is complex and requires assessment by the auditor of exogenous and endogenous factors affecting the operation of credit institutions.
... DEPARTMENT OF THE TREASURY Internal Revenue Service 26 CFR Part 1 [TD 9611] RIN 1545-BL49 Health Insurance Premium Tax Credit AGENCY: Internal Revenue Service (IRS), Treasury. ACTION: Final regulations. SUMMARY: This document contains final regulations relating to the health insurance premium tax credit...
Futamura, Yoshiaki; Nakagome, Yoshihiro.
For the design and safety assessment of the casks for transporting spent fuel, the fuel contained in them has been assumed to be new fuel. The reason is, it was difficult to evaluate the variation of the reactivity of fuel, and the research on the affecting factors and the method of measuring burnup were not much advanced. Recently, high burnup fuel has been adopted, and initial degree of enrichment rose. The research has been advanced for pursuing the economy of the casks for spent fuel, and burnup credit has become applicable to their design and safety assessment. As the result, the containing capacity increases by about 20%. When burnup credit is considered, it is necessary to confirm accurately the burnup of spent fuel. The burnup dependence of the concentration of fissile substances and neutron emissivity, the coolant void dependence of the concentration of fissile substances, and the relation of neutron multiplication rate with initial degree of enrichment or burnup are discussed. The conceptual design of casks considering burnup credit and its assessment, the merit, problem and the countermeasures to it when burnup credit is introduced are described. (K.I.)
Beck, T.H.L.; Hoseini, Mohammad; Uras, Burak
Using data on 5,500 Ethiopian retailers, we document that there is lower use of trade credit in areas with more access to bank finance. Among firms within an area, however, receiving a bank loan increases the use of trade credit by informal firms, but has no association with trade credit of formal
... 32 National Defense 5 2010-07-01 2010-07-01 false Certificates of full faith and credit. 720.32... Official Records § 720.32 Certificates of full faith and credit. The Judge Advocate General, the Deputy... full faith and credit certifying the signatures and authority of officers of the Department of the Navy...
Mangasa Augustinus Sipahutar
Full Text Available Linkage of credit on BI rate, funds rate, inflation, and government spending on capital provides evidence from Indonesia. This paper found advance explanation about banks credit as monetary transmission channel and its role on Indonesian economy. We used credit depth as a ratio of banks credit to GDP nominal, to explain the role of credit in Indonesian economy. We developed a VAR model to measure the response of credit to BI rate, funds rate and inflation rate, and OLS method to find out how banks credit response to government spending on capital. This paper revealed bi-direction causality between credit and BI rate, credit and funds rate, and credit and inflation. There is trade-off between credit and BI rate, credit and funds rate, and credit and inflation, but government spending on capital promotes credit depth. We found that Indonesian banking is bank view, allocated their credit based on their performance, not merely on the monetary policy determined by central bank. For bank view perspectives, we analyzed the link between LDR as an indicator of credit channel mechanism to NPLs and CAR. We found that there is no significant effect of CAR to LDR, but has a strong negatively relationship between NPLs to LDR. This evidence indicates that commercial banks in Indonesia allocated their credit do not related to their capital but merely to the quality of their credit portfolio.
This volume summarizes the design of the FED. It includes a description of the major systems and subsystems, the supporting plasma design analysis, a projected device cost and associated construction schedule, and a description of the facilities to house and support the device. This effort represents the culmination of the FY81 studies conducted at the Fusion Engineering Design Center (FEDC). Unique in these design activities has been the collaborative involvement of the Design Center personnel and numerous resource physicists from the fusion community who have made significant contributions in the physics design analysis as well as the physics support of the engineering design of the major FED systems and components
Dion Bongaerts; K.J. Martijn Cremers; William N. Goetzmann
textabstract Abstract: This paper explores the role played by multiple credit rating agencies (CRAs) in the market for corporate bonds. Moody’s, S&P and Fitch operate in a competitive setting with market demand for both credit information and the certification value of a high rating. We empirically document the outcome of this competitive interaction over the period 2002 to 2007. Virtually all bonds in our sample are rated by both Moody’s and Standard and Poors (S&P), and between 40% and 60% ...
... Credits, 1993 Revision, International Chamber of Commerce Publication No. 500, and to the extent not... Documentary Credits, 1993 Revision, International Chamber of Commerce Publication No. 500, and to the extent...
Galeeva, G. M.; Zagladina, E. N.; Kadeeva, E. N.
The paper presents data on the influence of the most significant factors having impact on the credit portfolio volume, as well as conducts correlation and regression analysis with the subsequent construction of the trend for a short period. Credit activity is understood as the bank activity in the formation of a credit portfolio. Considering the structure of the bank credit portfolio, it can be observed that it consists of credits granted by the bank particularly for legal entities, individuals and other banks. Herewith, it is necessary to understand that any decrease in the credit portfolio will adversely affect the financial stability and effectiveness of any commercial bank. Moreover, during crisis periods, the policy and practice of banks have been determined as quite aggressive and conducted as such with regard to interest rates. The dynamics of credit portfolio volume has been selected as an independent factor due to the reason that it can fully explain the current development situation and the effectiveness of the bank credit policy. Considering the dependent factors, their influence will be assessed by the credit portfolio volume indicator. The authors have distinguished the following ones among them: the volume of credits granted to individuals; the volume of credits granted to legal entities; the amount of overdue credits in the credit portfolio; bank investments in the securities; inflation; key rate.
... geographic franchise. (2) The extension of credit union service overseas is encouraged consistent with the... geographic franchise with a specific field of membership, the Secretary of the Military Department (or... geographic franchises assigned to credit unions serving DoD overseas installations. (ii) Where there is no Do...
... final rule with request for comments. SUMMARY: NCUA is issuing final amendments to revise the definition... Credit Union Share Insurance Fund (NCUSIF) share insurance to nonfederal share insurance in 12 CFR part...-credit union mergers and terminations of NCUSIF share insurance and conversions from NCUSIF share...
This paper investigates how initial inequality can causally affect economic growth when moral hazard problems exist in credit markets.Two regimes of the credit markets aiming at overcoming the moral hazard problems are analyzed.The formal one such as bank relies on intermediary between borrowers and
de Vries, Tim; de Haan, Jakob
We examine the relationship between credit ratings and bond yield spreads of peripheral countries in the euro area (Greece, Ireland, Italy, Portugal and Spain) for the period 1995-2014. Since 2012, bond spreads of those countries have come down very fast, whereas credit ratings have hardly changed.
..., amount, loan security, and stock or participation certificate requirements of the originating institution... Section 614.4030 Banks and Banking FARM CREDIT ADMINISTRATION FARM CREDIT SYSTEM LOAN POLICIES AND... estate mortgage loans with maturities of not less than 5 years nor more than 40 years and continuing...
Sumriddetchkajorn, Sarun; Intaravanne, Yuttana
We propose and experimentally demonstrate an angle-multiplexing based optical structure for verifying a credit card. Our key idea comes from the fact that the fine detail of the embossed hologram stamped on the credit card is hard to duplicate and therefore its key color features can be used for distinguishing between the real and counterfeit ones. As the embossed hologram is a diffractive optical element, we choose to shine one at a time a number of broadband lightsources, each at different incident angle, on the embossed hologram of the credit card in such a way that different color spectra per incident angle beam is diffracted and separated in space. In this way, the number of pixels of each color plane is investigated. Then we apply a feed forward back propagation neural network configuration to separate the counterfeit credit card from the real one. Our experimental demonstration using two off-the-shelf broadband white light emitting diodes, one digital camera, a 3-layer neural network, and a notebook computer can identify all 69 counterfeit credit cards from eight real credit cards.
Stanley, B.J.; Cline, S.B.
To no one's surprise, the administration's recently released energy initiative package does not advocate the use of tax incentives such as the Internal Revenue Code Sec. 29 (tight sand gas) credit that expired Dec. 31, 1992. This is unfortunate since tax credits do stimulate drilling, as the authors' recent study of Oklahoma's Pennsylvanian age Cherokee formation demonstrates. Within this 783,000 acre study area, more than 130 additional wells were drilled between 1991--92 because of tax credit incentives. And such tax credits also increase total federal tax revenues by causing wells to be drilled that would not have been drilled or accelerating the drilling of wells, thereby increasing taxable revenue. In short, tax credits create a win-win situation: they stimulate commerce, increase tax revenues, reduce the outflow of capital to foreign petroleum projects, and add to the nation's natural gas reserve, which is beneficial for national security, balance of payments, the environment, and gas market development. The paper discusses the study assumptions, study results, and the tax credit policy
Hodson, Randy; Dwyer, Rachel; Neilson, Lisa
In an era of increased access to credit, it becomes increasingly important to understand the consequences of taking on unsecured consumer debt. We argue that credit can have both positive and negative consequences resulting from its ability to smooth life transitions and difficulties but that this occurs simultaneously with increased financial risks and stress resulting from carrying unsecured debt. We find that those in the middle of the income distribution suffer the greatest disruptions to mental health from carrying debt. Affluent borrowers are relatively unmoved by debt, suggesting the use of short-term debt as a convenience strategy for the financially well-heeled. The least advantaged borrowers are also suffer emotionally less from debt, possibly because securing spendable funds for necessities remains their most pressing concern. The onset of the Great Recession, however, produced increased emotional distress for all classes.
customers . The president of Fuji Bank admitted recently that fear of bad debts had kept banks from vigorously exploiting the consumer market. He called...a lower income, working class shopper to a younger, credit-using customer . In early 1988, Marui had issued 9.6 million credit cards. 16 Its annual...the young consumer . In 1986, 83 percent of sales were to customers in their twenties.’ 7 With nearly 70 percent of its sales made on credit, interest
Amir Saadaoui, Younes Boujelbene
In this paper, we examine the relationship between liquidity, liquidity risk and credit risk in emerging sovereign bonds after the subprime crisis period. In our study, we concentrate in the effect of liquidity and credit risk in the problem of liquidity and in the emerging bond market. The presence of control variables, asymmetric information, amount outstanding, coupon, age and interest rate, assist to more explain this relationship. To explain the role of liquidity and credit risk in the p...