WorldWideScience

Sample records for science rivera credits

  1. Science Credit for Agriculture: Perceived Support, Preferred Implementation Methods and Teacher Science Course Work.

    Science.gov (United States)

    Johnson, Donald M.

    1996-01-01

    Arkansas agriculture teachers (213 of 259 surveyed) expressed support for granting science credit for agriculture (88.8%); 65.6% supported science credit for a limited number of agriculture courses. Blanket endorsement for all certified agriculture teachers was favored by 71.5%; 56.6% preferred endorsement only for certified teachers completing an…

  2. Doing science: how to get credit for your scientific work.

    Science.gov (United States)

    Caudri, Daan; Bjerg, Anders; Saad, Neil; Jacinto, Tiago; Chalmers, James; Hardavella, Georgia

    2015-06-01

    Everyone deserves to be acknowledged for their efforts and contributions to a shared goal, and getting credit for your scientific work should be part of a natural process and should be fair and straightforward. However, credit cannot be objectively measured despite it having a big influence and, unfortunately, getting appropriate credit can occasionally be both complicated and challenging.

  3. Leadership profile: HealthAchieve 2013 Nursing Leadership Award Winner, Tiziana Rivera.

    Science.gov (United States)

    Rivera, Tiziana

    2014-03-01

    Tiziana Rivera, the winner of the 2013 Nursing Leadership Award at the November HealthAchieve conference, is chief nursing executive and chief practice officer at Mackenzie Health. As such, she provides strategic leadership for the development and implementation of a shared vision for professional practice, nursing and all disciplines to promote innovative care and the development of care delivery models that will improve quality of care and population health.Prior to assuming her position at Mackenzie Health, Rivera provided strategic leadership for the Seniors' Health Program at Trillium Health Centre, where her role focused on the development of seniors' health services across the continuum of care. She has published numerous articles in refereed journals, conducted several research studies and presented her papers provincially, nationally and internationally. Rivera has a clinical appointment at the University of Toronto Faculty of Nursing, a faculty adviser position at Ryerson and an adjunct faculty position at the School of Health Sciences, York University and at the School of Health Sciences, Humber Institute of Technology and Advanced Learning.In the following Q and A, Rivera shares her thoughts on leadership in nursing and perspectives on several critical issues.

  4. Andrés Rivera, Escritor social

    Directory of Open Access Journals (Sweden)

    Marta Waldegaray

    2006-07-01

    Full Text Available La narrativa de Andrés Rivera hace de la historia el material de origen de la escritura y de su convicción política de izquierda el molde en el cual desde hace ya más de cuatro décadas su escritura adquiere forma.Acontecimiento histórico, circunstancia política, poseen en sus primeras novelas el valor de verdad política, de testimonio social. La convicción ideológica que sus libros exhiben se acompaña de una trayectoria literaria que, en su práctica inicial, fue confiada a la representación r...

  5. Vulnerability and Hydrogeologic Risk of the Guarani Aquifer System in the outcropping area located in Rivera Uruguay

    International Nuclear Information System (INIS)

    Montano, J.; Collazo, P.; Auge, M.

    2004-01-01

    The Project named Vulnerability and Hydrogeologic Risk of the Guarani Aquifer System in the outcropping area located in Rivera, Uruguay is developed by the Faculty of Science University of the Republic, together with the Faculty of Natural and Exact Sciences of the University of Buenos Aires, and it is financed by the Guarani Fund of Universities - Project for the Environmental Protection and Sustainable Development of the Guarani Aquifer System. This project has the aim of researching the characteristics and the hydrogeologic behavior of the Guarani Aquifer in the North portion of Uruguay, Department of Rivera (outcropping area). Moreover, to propose measures directed to their preservation through their sustainable use. The Hydrogeologic Study of the Guarani Aquifer System in this area will contribute not only with the best knowledge in its dynamics, but also helping to take measures in the water management and to avoid potential risks of contamination [es

  6. Beyond funding: What can acknowledgements reveal about credit distribution in science?

    Energy Technology Data Exchange (ETDEWEB)

    Paul-Hus, A.; DiazFaes, A.; Desrochers, N.; Costas, R.; Sainte-Marie, M.; Macaluso, B.; Lariviere, V.

    2016-07-01

    Funding acknowledgements found in scientific publications have been used for decades to study the role of funding in science production. However, beyond funding information, acknowledgements convey the indebtedness of authors to individuals, institutions and organizations that contributed, in some way, to the research that lead to publication. The objective of this paper is to explore the different types of contributions acknowledged in WoS funding acknowledgement (FA) texts. The Correspondence Analysis performed in this study reveals that FAs offer a unique window on research and collaborative practices, credit distribution, and how these vary across disciplines. FAs thus contribute to make the traditionally “invisible contributions” visible to the scientific community. Results presented in this study go further in demonstrating that acknowledgements are not confined to credit attribution, as they include disclosures of conflict of interest. (Author)

  7. Intoxication as Feminist Pleasure: Drinking, Dancing, and Un-Dressing with/for Jenni Rivera

    Directory of Open Access Journals (Sweden)

    Yessica Garcia Hernandez

    2016-04-01

    Full Text Available In "Intoxication as Feminist Pleasure: Drinking, Dancing, and Un-Dressing with/for Jenni Rivera," Yessica Garcia Hernandez presents a subculture of unabashed, unambivalent, and unapologetic “wet” feminism. During the concerts of the Chicana singer, Jenni Rivera, intoxication is divorced from the pressures of respectability by both Rivera and her fans, who continue to celebrate the singer and her name brand tequila even after her death.

  8. Diosas y madres, el arquetipo femenino en Diego Rivera

    Directory of Open Access Journals (Sweden)

    Dina Comisarenco Mirkin

    2010-11-01

    Full Text Available En el presente trabajo se estudia la representación del arquetipo femenino en la obra mural de Diego Rivera que el artista entretejió en sus amplios y complejos programas iconográficos con una extraordinaria imaginación poética. Se postula aquí que por una parte,  dicha representación arquetípica partió de su erudita utilización de símbolos alegóricos  y de alusiones a divinidades femeninas de distintas épocas y lugares, como medio para asegurar la universalidad del contenido histórico de su pintura, y que por otra parte, y de forma esencial,  el origen de sus poderosas imágenes femeninas, se remonta a algunas de las experiencias vitales del artista, en particular a aquellas relacionadas con el amor filial, con la maternidad/paternidad, y con las heterodoxas relaciones amorosas que Rivera mantuvo a lo largo de su vida con sobresalientes mujeres de su época a quienes admiró y reconoció a través de sus impactantes retratos y homenajes pictóricos. Se concluye así que el arte mural fue para Rivera no sólo un instrumento de acción política, tal y como es normalmente reconocido por la crítica especializada, sino también, una oportunidad para elaborar temas de carácter subjetivo, en los que paradójicamente alcanza un mayor grado de generalidad y trascendencia que el que caracteriza a su pintura histórica.  Particularmente la expresión simbólica del arquetipo femenino plasmada por Rivera en algunos de sus principales aspectos como la Buena Madre, la Madre Terrible y, la Gran Madre,  tal y como los fue viviendo, construyendo y modificando a través de algunas de sus experiencias vitales más significativas y profundas de su vida personal,  constituye uno de los logros artísticos más eminentes del artista y uno de sus principales aportes iconográficos al arte universal. Sus excelsas imágenes de diosas y madres nos permiten re-conectarnos con el inconciente colectivo, y particularmente con el poder tradicionalmente

  9. Diosas y madres, el arquetipo femenino en Diego Rivera

    OpenAIRE

    Comisarenco Mirkin, Dina

    2010-01-01

    En el presente trabajo se estudia la representación del arquetipo femenino en la obra mural de Diego Rivera tomando como punto de partida, no sólo su erudita utilización de símbolos alegóricos tradicionales, sino y particularmente, algunas de las experiencias vitales del artista, en particular aquellas relacionadas con el amor filial, con la maternidad/paternidad, y con sus complejas relaciones amorosas con distinguidas mujeres de su época, que de forma más o menos consciente, el artista entr...

  10. Diosas y madres, el arquetipo femenino en Diego Rivera

    OpenAIRE

    Dina Comisarenco Mirkin

    2010-01-01

    En el presente trabajo se estudia la representación del arquetipo femenino en la obra mural de Diego Rivera que el artista entretejió en sus amplios y complejos programas iconográficos con una extraordinaria imaginación poética. Se postula aquí que por una parte,  dicha representación arquetípica partió de su erudita utilización de símbolos alegóricos  y de alusiones a divinidades femeninas de distin...

  11. 78 FR 24288 - Culturally Significant Objects Imported for Exhibition Determinations: “Frida Kahlo, Diego Rivera...

    Science.gov (United States)

    2013-04-24

    ... DEPARTMENT OF STATE [Public Notice 8290] Culturally Significant Objects Imported for Exhibition Determinations: ``Frida Kahlo, Diego Rivera, and Masterpieces of Modern Mexico: The Jacques and Natasha Gelman..., 2003), I hereby determine that the objects to be included in the exhibition ``Frida Kahlo, Diego Rivera...

  12. 76 FR 63701 - Culturally Significant Objects Imported for Exhibition Determinations: “Diego Rivera: Murals for...

    Science.gov (United States)

    2011-10-13

    ... exhibition ``Diego Rivera: Murals for The Museum of Modern Art,'' imported from abroad for temporary... Determinations: ``Diego Rivera: Murals for the Museum of Modern Art'' SUMMARY: Notice is hereby given of the... exhibit objects at The Museum of Modern Art, New York, NY, from on or about November 13, 2011, until on or...

  13. Challenges and Opportunities: My Personal Journey. Tomás Rivera Lecture Series

    Science.gov (United States)

    Moran, Rachel F.

    2011-01-01

    Each year a distinguished scholar or prominent leader is selected to present the Tomás Rivera Lecture. Named in honor of the late Dr. Tomás Rivera, professor, scholar, poet, and former president of the University of California, Riverside, the American Association of Hispanics in Higher Education (AAHHE) is continuing this lecture at its annual…

  14. Diosas y madres, el arquetipo femenino en Diego Rivera Diosas y madres, el arquetipo femenino en Diego Rivera

    Directory of Open Access Journals (Sweden)

    Dina Comisarenco Mirkin

    2010-11-01

    Full Text Available En el presente trabajo se estudia la representación del arquetipo femenino en la obra mural de Diego Rivera que el artista entretejió en sus amplios y complejos programas iconográficos con una extraordinaria imaginación poética. Se postula aquí que por una parte,  dicha representación arquetípica partió de su erudita utilización de símbolos alegóricos  y de alusiones a divinidades femeninas de distintas épocas y lugares, como medio para asegurar la universalidad del contenido histórico de su pintura, y que por otra parte, y de forma esencial,  el origen de sus poderosas imágenes femeninas, se remonta a algunas de las experiencias vitales del artista, en particular a aquellas relacionadas con el amor filial, con la maternidad/paternidad, y con las heterodoxas relaciones amorosas que Rivera mantuvo a lo largo de su vida con sobresalientes mujeres de su época a quienes admiró y reconoció a través de sus impactantes retratos y homenajes pictóricos. Se concluye así que el arte mural fue para Rivera no sólo un instrumento de acción política, tal y como es normalmente reconocido por la crítica especializada, sino también, una oportunidad para elaborar temas de carácter subjetivo, en los que paradójicamente alcanza un mayor grado de generalidad y trascendencia que el que caracteriza a su pintura histórica.  Particularmente la expresión simbólica del arquetipo femenino plasmada por Rivera en algunos de sus principales aspectos como la Buena Madre, la Madre Terrible y, la Gran Madre,  tal y como los fue viviendo, construyendo y modificando a través de algunas de sus experiencias vitales más significativas y profundas de su vida personal,  constituye uno de los logros artísticos más eminentes del artista y uno de sus

  15. Motion of the Rivera plate since 10 Ma relative to the Pacific and North American plates and the mantle

    Science.gov (United States)

    DeMets, Charles; Traylen, Stephen

    2000-03-01

    To better understand the influence of Rivera plate kinematics on the geodynamic evolution of western Mexico, we use more than 1400 crossings of seafloor spreading magnetic lineations along the Pacific-Rivera rise and northern Mathematician ridge to solve for rotations of the Rivera plate relative to the underlying mantle and the Pacific and North American plates at 14 times since 9.9 Ma. Our comparison of magnetic anomaly crossings from the undeformed Pacific plate to their counterparts on the Rivera plate indicates that significant areas of the Rivera plate have deformed since 9.9 Ma. Dextral shear along the southern edge of the plate from 3.3-2.2 Ma during a regional plate boundary reorganization deformed the Rivera plate farther into its interior than previously recognized. In addition, seafloor located north of two rupture zones within the Rivera plate sutured to North America after 1.5 Ma. Anomaly crossings from these two deformed regions thus cannot be used to reconstruct motion of the Rivera plate. Finite rotations that best reconstruct Pacific plate anomaly crossings onto their undeformed counterparts on the Rivera plate yield stage spreading rates that decrease gradually by 10% between 10 and 3.6 Ma, decrease rapidly by 20% after ˜3.6 Ma, and recover after 1 Ma. The slowdown in Pacific-Rivera seafloor spreading at 3.6 Ma coincided with the onset of dextral shear across the then-incipient southern boundary of the Rivera plate with the Pacific plate. The available evidence indicates that the Rivera plate has been an independent microplate since at least 10 Ma, contrary to published assertions that it fragmented from the Cocos plate at ˜5 Ma. Motion of the Rivera plate relative to North America has changed significantly since 10 Ma, in concert with significant changes in Pacific-Rivera motion. A significant and robust feature of Rivera-North America motion not previously recognized is the cessation of margin-normal convergence and thus subduction from 2

  16. [Diego Rivera: a great master and a didactic and discerning medical historian].

    Science.gov (United States)

    Cabello C, Felipe

    2014-11-01

    Diego Rivera is one of the artistic giants of the 20th century. His many original creations included landscapes, portraits and large murals created in both Mexico and the United States. Rivera ventured into many styles-cubism, naturalism and narrative realism-with great success. Rivera's murals build on those of the Renaissance, pre-historic and colonial civilizations of Mexico. Biological and medical topics and their history form an important concern in Rivera's work, present in many of his murals in a highly informative and creative manner. His two History of Cardiology murals present an original and comprehensive account of the developments of this medical specialty from pre-historic to modern times. His History of Medicine in Mexico (The people demands health) mural is a creatively and vigorously fashioned and highly dynamic and synthetic vision of the relationships between pre-historic and modern medicine in Mexico and its social foundations. Medical topics such as vaccines and vaccination, embryology and surgery are inventively and accurately presented in the large mural, Detroit Industry. The trigger and impetus for the concern of Rivera for these topics of life and death, and the exceedingly ground-breaking way he presents them, appear to stem from his rational materialism, his concern for collective wellbeing, his belief in progress through scientific developments and political action and his commitment to understand Mexican and American history.

  17. Programmers, professors, and parasites: credit and co-authorship in computer science.

    Science.gov (United States)

    Solomon, Justin

    2009-12-01

    This article presents an in-depth analysis of past and present publishing practices in academic computer science to suggest the establishment of a more consistent publishing standard. Historical precedent for academic publishing in computer science is established through the study of anecdotes as well as statistics collected from databases of published computer science papers. After examining these facts alongside information about analogous publishing situations and standards in other scientific fields, the article concludes with a list of basic principles that should be adopted in any computer science publishing standard. These principles would contribute to the reliability and scientific nature of academic publications in computer science and would allow for more straightforward discourse in future publications.

  18. Toward a Latino Attainment Agenda: Shaping Our Own Destiny. Tomás Rivera Lecture Series

    Science.gov (United States)

    Cigarroa, Francisco G.

    2013-01-01

    In the 2013 Tomás Rivera lecture, Francisco Cigarroa, chancellor of the University of Texas system, discusses how a major shift in the demographics of the United States is having a profound effect on K-12 and higher education.

  19. The Decade Ahead: Inquire, Innovate, Impact. Tomás Rivera Lecture Series

    Science.gov (United States)

    Pacheco, Manuel T.

    2015-01-01

    In the 2015 Tomás Rivera lecture, Manuel T. Pacheco, President Emeritus of the University of Missouri System and the University of Arizona, discusses the importance of representing the Hispanic American population proportionately among college students, faculty, staff, and administration in higher education.

  20. Subduction of the Rivera plate beneath the Jalisco block as imaged by magnetotelluric data

    OpenAIRE

    Corbo-Camargo, Fernando; Arzate-Flores, Jorge Arturo; Álvarez-Béjar, Román; Aranda-Gómez, José Jorge; Yutsis, Vsevolod

    2013-01-01

    Two magnetotelluric (MT) profiles perpendicular to the trench provide information on the subduction of the Rivera plate under the Jalisco block (JB). The geometry of the subducting slab is inferred by the anomalous conductor on the top of the profile in the central part of the JB. High conductivity zones (

  1. Tra utopia e rivoluzione: le visioni di Diego Rivera al Rockefeller Center di New York

    Directory of Open Access Journals (Sweden)

    Amalda Cuka

    2016-11-01

    Full Text Available I murales eseguiti da Diego Rivera (1886–1957 al Rockefeller Center di New York nel 1933 sono fra le più note opere d’arte scomparse. Ad aver reso celebre il dipinto non è stato il successo di pubblico, data la rimozione del lavoro ancora in corso d’opera, ma il ricchissimo dibattito alimentato dalla stampa intorno alla concezione dell’immagine, considerata negli Stati Uniti totalmente rivoluzionaria per la particolare tecnica dell’affresco utilizzata da Rivera, per i riferimenti all’arte precolombiana e per le idee politiche esposte. Un’occasione di riflessione è offerta in questa sede dall’attenzione che uno dei principali organi di stampa americani, il New York Times, ha dedicato all’argomento: dalla lettura dei numerosi interventi emerge, da una parte, la capacità di Rivera di entrare in comunicazione con un vasto pubblico, e dall’altra il ruolo avuto dalla stampa nella diffusione - quasi involontaria - del suo messaggio. Rivera è riuscito a raggiungere in tal modo, almeno parzialmente, il suo scopo: l’opera non è stata accessibile al grande pubblico, ma la conoscenza dei principi che voleva celebrare si è diffusa in maniera ancor più capillare.

  2. ``I Just Want The Credit!'' - Perceived Instrumentality as the Main Characteristic of Boys' Motivation in a Grade 11 Science Course

    Science.gov (United States)

    Nieswandt, Martina; Shanahan, Marie-Claire

    2008-01-01

    This case study examines the motivational structure of a group of male students ( n = 10) in a grade 11 General Science class at an independent single-sex school. We approach the concept of motivation through the integration of three different theoretical approaches: sociocultural theory, future time perspective and achievement goal theory. This framework allows us to stress the dialectical interdependence of motivation, as expressed through individual goals, and the socially and culturally influenced origins of these goals. Our results suggest that the boys internalised the administrative description of the course as meeting a diploma requirement, which they expressed in their perception of the course as being for “non-science” people who “just need a credit.” However, we also found situational changes in students’ motivational structure towards more intrinsic orientations when they were engaged in topics with personal everyday and future relevance. These situational changes in students’ goal structures illustrate that our participants did not internalise classroom and school goal messages wholly and, instead, selectively and constructively transformed these goal messages depending on their own motivational structure and beliefs. These results stress the importance of teachers scaffolding not only for conceptual learning but also for student motivation in science classes, especially those that purposefully teach towards scientific literacy.

  3. Credit Risk Research

    DEFF Research Database (Denmark)

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

    2018-01-01

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

  4. CREDIT SYSTEM AND CREDIT GUARANTEE PROGRAMS

    OpenAIRE

    Turgay GECER

    2012-01-01

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

  5. Sobre las novelas de Andrés Rivera [1982-1996

    Directory of Open Access Journals (Sweden)

    José Luis De Diego

    1996-11-01

    Full Text Available El trabajo adopta como corpus las novelas publicadas por Rivera a partir de Nada que perder y procura clasificar ese corpus de nueve novelas en cuatro grupos. Caracteriza las 'políticas de la escritura' de esas novelas a partir de la diferenciación creciente respecto del 'redentorismo social', de la herencia romántica del color local, y de la síntesis con el lenguaje periodístico que postula la non-fiction. Desde esta caracterización se plantea la compleja relación entre ciertos textos de Rivera y la novela histórica como género canonizado; con ese fin, se sitúa a esos textos en una genealogía reciente en la literatura argentina que parte de Zama y llega hasta El farmer. Con relación a las causas que originan la proliferación de textos ficcionales que recuperan la materia histórica, el trabajo arriesga una hipótesis de doble distanciamiento: respecto de las vanguardias y respecto de la historiografía, ya que en ambos casos se constata el abandono del relato como modo de exposición de la experiencia histórica. Por último, se agrega una nota sobre la 'imagen de escritor' de Rivera y la eventual conexión de esa imagen con la génesis de su estética

  6. Sobre las novelas de Andrés Rivera [1982-1996

    Directory of Open Access Journals (Sweden)

    José Luis De Diego

    1997-04-01

    Full Text Available El trabajo adopta como corpus las novelas publicadas por Rivera a partir de Nada que perder y procura clasificar ese corpus de nueve novelas en cuatro grupos. Caracteriza las 'políticas de la escritura' de esas novelas a partir de la diferenciación creciente respecto del 'redentorismo social', de la herencia romántica del color local, y de la síntesis con el lenguaje periodístico que postula la non-fiction. Desde esta caracterización se plantea la compleja relación entre ciertos textos de Rivera y la novela histórica como género canonizado; con ese fin, se sitúa a esos textos en una genealogía reciente en la literatura argentina que parte de Zama y llega hasta El farmer. Con relación a las causas que originan la proliferación de textos ficcionales que recuperan la materia histórica, el trabajo arriesga una hipótesis de doble distanciamiento: respecto de las vanguardias y respecto de la historiografía, ya que en ambos casos se constata el abandono del relato como modo de exposición de la experiencia histórica. Por último, se agrega una nota sobre la 'imagen de escritor' de Rivera y la eventual conexión de esa imagen con la génesis de su estética

  7. Vulnerability and hydrogeologic risk of SAG in the outcroupping zone of Rivera Uruguay

    International Nuclear Information System (INIS)

    Collazo, P.; Montano, J.; Auge, M.; jmont@fcien.edu.uy mpauge@ciudad.com.ar

    2007-01-01

    The studied area belongs to the outcroupping zone of the Guarani Aquifer in the Department of Rivera, Uruguay. It comprises an approximate area of 2900 Km2. The outcropping Guarani Aquifer (AGa) is formed by two sections, an upper one corresponding to the Rivera Unit (UR) and a lower one corresponding to the Tacuarembo Unit (UT), both with vertical hydraulic continuity. The Rivera Unit is entirely represented by the homonymous formation and it consists of medium to fine sandstones with a mean effective porosity of 14% and mean Transmissivity of 88 m2/dia. The Tacuarembo Unit is constituted by fine to very fine sandstone levels interbedded with pelitic sandstone and shales. This unit behaves like unconfined aquifer in the upper section, where it contains the phreatic layer and it passes to semi-confined as the depth increases. The effective porosity is approximatelly of 9% and mean T 24 m2/dia. Chemically, both units are classified as calcicbicarbonated and magnesic-bicarbonated. To determine the vulnerability, it was applied the GOD method yielding high vulnerability for levels lower than 10m and moderate for levels of water larger than 10m. From the study of risk the conclusions are: high risk of groundwater contamination due to the lack of sewage systems and to the rubbish dump leakage. The industrial activity, cemeteries and mining activity represents moderated risks in most of the cases

  8. MANAGEMENT OF CREDIT LOSSES

    Directory of Open Access Journals (Sweden)

    Natalya P. Anoshkina

    2018-06-01

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

  9. Vulnerability of family livestock farming on the Livramento-Rivera border of Brazil and Uruguay: Comparative analysis

    Directory of Open Access Journals (Sweden)

    P. D. Waquil

    2016-03-01

    Full Text Available Social, ecological, and economic sciences have all shown interest in studying the social group called family livestock farmers. The main characteristic of this group, which is present in the Pampa biome in Southern Brazil and Uruguay, is beef cattle production based on family work on small lands, expressing an autonomous way of life which is, however, highly dependent on strong relations with the physical environment and marked by risk aversion. In this study we made a comparative analysis of vulnerability factors of family livestock farming in Brazil and Uruguay. We also compared these social actors’ perceptions of risks, and the strategies built to mitigate threats. A survey was thus carried out and included 16 family livestock farmers’ interviews, eight in each country,near the cities of Santana do Livramento (Brazil and Rivera (Uruguay. Although these cities are next to each other on each side of the border and thus present environmental similarities, we chose them because family farming was not subjected to the same political and economic conditions which might (or might not have influenced farmers’ perceptions and reactions. Results showed that livestock farmers were mainly affected by vulnerabilities arising from external elements such as the climate (e.g. droughts or harsh winters, but also from internal elements (lack of land access and successors. From the family livestock farmers’ standpoint, the highest risks to their production systems and social system reproduction were more related to climate than to price and market variations.

  10. Monetary Policies And Credit Financing As Factors In Agricultural ...

    African Journals Online (AJOL)

    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.

  11. Mexican Muralists: Rivera, Siqueiros, and Orozco. Curriculum Projects. Fulbright-Hays Summer Seminars Abroad Program, 2002 (Mexico).

    Science.gov (United States)

    Walter, Kim

    Murals created by Diego Rivera, Jose Clemente Orozco, and David Alfaro Siqueiros embody a time of change in Mexico. The murals they created were intended to educate an illiterate population. Today these murals embody national pride. The goal of this curriculum project is rooted in learning about the history, culture, and art of Mexico. The project…

  12. Algo mas sobre la enfermedad y muerte de José Eustasio Rivera

    Directory of Open Access Journals (Sweden)

    Humberto Roselli Quijano

    2003-03-01

    Full Text Available

    José Eustasio Rivera nació en Neiva el 19 de febrero de 1888. Cursó la primaria en el Colegio de Santa Librada en su ciudad natal y el bachillerato en la Escuela Normal de Bogotá.
    Posteriormente estudió derecho en la Universidad Nacional y se graduó de abogado en 1917. En 1921 publicó "Tierra de Promisión", su admirable libro de sonetos y al año siguiente fue designado Secretario
    de la Comisión de Limites con Venezuela; en 1924 publicó La Vorágine y en 1928 fue nombrado delegado de la Conferencia Internacional de Emigración de la Habana. Se trasladó enseguida a Nueva York en donde transcurrieron los últimos meses de su vida, habiendo fallecido el 1 de diciembre de 1928, a las 12:50, a los 40 años y 9 meses de su edad.

    Rivera, por su profesión de abogado, atendía cuantiosos pleitos en los Llanos de Casanare, por lo cual permanecía largas temporadas en Sogamaso, puerta de entrada a Los Llanos, alojándose en la pensión de doña Adriana Camargo de Albarracín o en la quinta de su amigo Lisandro Durán que quedaba en las estribaciones que cierran el valle hacia el noroeste. Con el señor Durán compartían fraternalmente la afición por la cinegética, a la que ambos rendían culto en los cerros que rodean la laguna de Tota.
    Es sabido que Rivera padeció en varias ocasiones crisis de delirio agudo febril con convulsiones en una de las cuales falleció en Nueva York. Otra le había sobrevenido en 1918 en Orocué; luego se le repitió en Sogamaso en 1920 en que fue atendido por el Dr. Julio Sandoval, distinguido médico de la localidad. La crisis se repitió con características de gravedad en Purificación, Tolima, en marzo de 1921...

  13. La caucheria en la literatura latinoamericana bajo la pluma de Gallegos y Rivera

    Directory of Open Access Journals (Sweden)

    Ana del Pilar Banda Mora

    2016-12-01

    Full Text Available En el presente ensayo se analiza la vinculación entre las novelas Canaima, del venezolano Rómulo Gallegos y la Vorágine del colombiano José Eustacio Rivera, en ambas se relata la explotación cauchera y la institucionalidad engendrada para tal fin. Además de mostrarse la esclavitud, el crimen y el irrespeto para el pueblo aborigen, mediante un Paraestado instalado en las selvas de las afluentes de los ríos Orinoco y Amazonas, allí donde se consolidó el monopolio de la explotación del caucho natural, ligado a los mercados internacionales en la nueva era del automóvil.

  14. MODELING CREDIT RISK THROUGH CREDIT SCORING

    OpenAIRE

    Adrian Cantemir CALIN; Oana Cristina POPOVICI

    2014-01-01

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

  15. Developing and Teaching a Two-Credit Data Management Course for Graduate Students in Climate and Space Sciences

    Science.gov (United States)

    Thielen, Joanna; Samuel, Sara M.; Carlson, Jake; Moldwin, Mark

    2017-01-01

    Engineering researchers face increasing pressure to manage, share, and preserve their data, but these subjects are not typically a part of the curricula of engineering graduate programs. To address this situation, librarians at the University of Michigan, in partnership with the Climate and Space Sciences and Engineering Department, developed a…

  16. The Impact of E-Education on At Risk High School Students' Science Achievement and Experiences during Summer School Credit Recovery Courses

    Science.gov (United States)

    Phillips, Pamela Prevette

    Nationally, at risk students make up to 30% of U.S. students in public schools. Many at risk students have poor attendance, are disengaged from the learning environment and have low academic achievement. Educational failure occurs when students do not complete the required courses and as a result do not receive a high school diploma or a certificate of attendance. Many at risk students will not graduate; nearly one-third of all United States high school students have left the public school system before graduating, which has been referred to as a national crisis. Many at risk students fail science courses that are required for graduation, such as biology. Clearly, many students are not responding positively to the conditions in many public school classrooms, suggesting the need for different methods of educating at risk students, such as e-education. Three research questions guided the study: 1) Who are the students in an e-education, online summer school credit recovery course? 2) Do students' beliefs about their learning environment or other personal factors influence their academic achievement?, and 3) How do students describe their experiences of an e-education science course? This mixed methods study investigates thirty-two at risk students who were enrolled in one of three e-education science education courses (biology, earth science, and physical science) during a summer session in a rural county in a southeastern US state. These students failed their most recent science course taken in a traditional classroom setting. Artino's (2010) social-cognitive model of academic motivation and emotion was used as a theoretical framework to highlight the salient motivational factors toward learning science (e.g., task characteristics, task value beliefs, positive emotions). Student data included pre and post tests for all e-education lessons, a final exam, survey data (Students Motivation towards Science Learning (SMTSL), time (on task and idle), field notes, and

  17. La dictadura de Primo de Rivera: 60 años después

    Directory of Open Access Journals (Sweden)

    Miguel Ángel PERFECTO GARCÍA

    2010-02-01

    Full Text Available El profesor Morodo definía a la Dictadura de Primo de Rivera, en un ensayo aparecido en 1973, como "La época histórica española que separa ya el siglo XIX del XX...etapa fronteriza y de transición no culminó su obra, pero determinó un amplio revulsivo formalizado y relanzando direcciones doctrinales anteriores modernizadas por los nuevos condicionamientos socio-económicos, provocó la revisión crítica de muchos de los movimientos políticos, incluso en su táctica y estrategia...inició un ensayo o tanteo de proyección institucional corporativa, precursor de institucionalizaciones posteriores y, en definitiva, cuestionó y en gran parte liquidó los supuestos del Estado conservador individualista que en su día plasmó la Restauración".

  18. Credit Management System

    Data.gov (United States)

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

  19. Credit: A Teaching Unit.

    Science.gov (United States)

    Clanton, Brandolyn; And Others

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

  20. Refundable Tax Credits

    OpenAIRE

    Congressional Budget Office

    2013-01-01

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

  1. NCA & Credit Guarantees

    African Journals Online (AJOL)

    stooppn

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

  2. La oposición a la dictadura de Miguel Primo de Rivera a través de la prensa mercurial chilena (1923-1930

    Directory of Open Access Journals (Sweden)

    Mario Valdés Urrutia

    2011-06-01

    Full Text Available Este artículo examina algunos aspectos del accionar opositor al gobierno de Miguel Primo de Rivera desde una mirada sudamericana: el diario El Mercurio, influyente periódico en la sociedad chilena. Las reacciones frente al alzamiento primorriverista de 1923; la crítica política junto a algunos intentos de defenestrar la Dictadura;  y el  rechazo al proyecto de institucionalización autoritaria y antiliberal, son los temas abordados.Palabras claves: Primo de Rivera – Dictadura – Oposición – Visión de El Mercurio.___________________________Abstract:This article examines certain aspects of the opposition to the dictatorshipof Miguel Primo de Rivera from a South American point of view: that of El  Mercurio, an influential Chilean newspaper. The reaction to the coup d'etat of Primo de Rivera in 1923, political criticism together with certain attempts to unseat the dictator, and the rejection of the authoritarian and antiliberal political project are all considered. KeyWords: Primo de Rivera, Dictatorship, Opposition, Viewpoint of El Mercurio

  3. Rural Credit in Vietnam

    DEFF Research Database (Denmark)

    Barslund, Mikkel Christoffer; Tarp, Finn

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

  4. La oposición a la dictadura de Miguel Primo de Rivera a través de la prensa mercurial chilena (1923-1930)

    OpenAIRE

    Mario Valdés Urrutia

    2011-01-01

    Este artículo examina algunos aspectos del accionar opositor al gobierno de Miguel Primo de Rivera desde una mirada sudamericana: el diario El Mercurio, influyente periódico en la sociedad chilena. Las reacciones frente al alzamiento primorriverista de 1923; la crítica política junto a algunos intentos de defenestrar la Dictadura;  y el  rechazo al proyecto de institucionalización autoritaria y antiliberal, son los temas abordados.Palabras claves: Primo de Rivera – Dictadura – Oposición – Vis...

  5. Credit Card Quiz.

    Science.gov (United States)

    Marks, Jeff

    2000-01-01

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

  6. Credit Union Headquarters

    Data.gov (United States)

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

  7. Credit Card Security

    OpenAIRE

    G.C., Anup

    2013-01-01

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

  8. Credit Market Information Feedback

    OpenAIRE

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

    2015-01-01

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

  9. Boundedly rational credit cycles

    OpenAIRE

    Sáez, María

    1996-01-01

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

  10. Modernization of credit relations

    Directory of Open Access Journals (Sweden)

    S.V. Volosovich

    2015-03-01

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

  11. As representações das lutas de independência no México na ótica do muralismo: Diego Rivera e Juan O'Gorman

    Directory of Open Access Journals (Sweden)

    Camilo de Mello Vasconcellos

    2005-12-01

    Full Text Available This article analysis the representation of the Mexican Independence, through the Mexican painters muralists: Diego Rivera and Juan O'Gorman. These paintings are important visual documents that should be viewed in the context of their production, bringing also together the relation between art and politics in Latin America.

  12. Lithosphere Structure of the Rivera Plate - Jalisco Block Contact Zone: Septentrional Region of the Islas Marías (Mexico)

    Science.gov (United States)

    Madrigal-Ávalos, L. A.; Nunez, D.; Escalona-Alcazar, F. D. J.; Nuñez-Cornu, F. J.; Barba, D. C., Sr.; Danobeitia, J.

    2017-12-01

    The western margin of Mexico is a tectonic complex region where large earthquakes occurred with very destructive consequences, including the generation of big tsunamis. This fact is mainly the result of the Rivera plate subduction beneath the North American plate and the Jalisco Block implying a high potential seismic risk. In the north, between the Tamayo Fracture Zone and the Mesoamerican Trench, the Islas Marías region is a complex tectonic limit within the interaction of the Rivera plate oceanic crust and the Jalisco Block continental crust. In order to know the shallow and deep structure of the Rivera plate - Jalisco Block contact zone and to be able to determine these potential seismic sources, the TSUJAL geophysical experiment was carried out from 2012 to 2016. As part of this project, we present the results of the processed and analyzed MCS and WAS data along the TS09 and RTSIM01 seismic transects, respectively, across the septentrional region of Islas Marías. These marine seismic lines are coincident with 110 km length for MCS and 240 km for WAS, and perpendicular to the coastline with SW-NE orientation. The seismic sources used in this work aboard RRS James Cook consisted of 12 guns with a total capacity for WAS data of 5800 in3 every 120 s and 3540 in3 every 50 m for MCS data. The MCS data were acquired with a 5.85 km length streamer with a 468 active channels, while the WAS data were recorded by a network of 4 OBS and 27 land seismic stations. After data processing and joint interpretation, it was possible to determine that shallow structure is mainly constituted by normal faults associated to graben structures forming sedimentary basins with non-deformed sediments in the basement. While the deep structure is characterized by depths from 9 to 12 km in the oceanic crust and 18 to 21 km in the continental crust. The deepest layers of the upper mantle were determined up to 35 km depth. In this study, it was possible to calculate a dip angle between 6

  13. Transitive Credit and JSON-LD

    Directory of Open Access Journals (Sweden)

    Daniel S. Katz

    2015-11-01

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

  14. Human action as inducing changes in the fluvial pattern of river Rivera de Huelva (Guillena sector-Sevilla)

    International Nuclear Information System (INIS)

    Garcia Martinez, B.; Baena Escudero, R.; Posada Simenon, C.

    2009-01-01

    This paper aims to highlight the changes that occur in hydro morphological the final stretch of a river as the Rivera de Huelva, with a catchment of more than 2000 km 2 , which throughout the 20 t h century has been a strong human intervention, for the construction of seven reservoir for water supply in the municipality of Seville and its metropolitan area. This intense man brigs an important change in the hydrological behaviour of the natural river, which is reflected not only in its river system, but also in the behavior of extreme hydrological events. At the morphological changes resulting in a change in the morphologic pattern of the channel, which acquires, at present, characteristics of ephemeral river with plenty of cargo and marked incision general fund. Likewise, this trend is generating significant incision instability problems in the infrastructure. (Author) 15 refs.

  15. Elaboración de la imagen de Miguel Primo de Rivera en "El Debate" y "Arriba"

    Directory of Open Access Journals (Sweden)

    Ángel M. Varas Carrasco

    1998-01-01

    Full Text Available El estudio de la prensa escrita constituye una herramienta esencial para las investigaciones sobre la opinión pública en la Historia Contemporánea. Dentro de tan vasto territorio resulta de suma importancia conocer los mecanismos de fabricación de las imágenes políticas entendidas como hitos básicos en la configuración de la memoria histórica. El análisis de tales mecanismos, sometidos al devenir histórico, como consecuencia y causa del mismo, permite arrojar luz tanto sobre las señas de identidad de los grupos políticos como sobre sus comportamientos tácticos en circunstancias históricas concretas. De esta forma, analizar la imagen política de tiñiguel Primo de Rivera elaborada por "El Debate» y "Arriba», respectivamente, abre sugerentes vías de investigación sobre el catolicismo social y el fascismo en España.The study of the written press constitutes an essential tool for investigations inte public opinión in Contemporary History. With such a vast territory, it is of principal importance to understand the mechanisms of production of political images as basic criteria in the creation of historical memory. The analysis of such mechanisms, which becomes historical as a consequences and cause of itself, allows us to shed light on the sense of identity of the political groups as well as their tactical behaviour in concrete historical circumstances. In this way, the political image of Miguel Primo de Rivera as seen by «El Debate» y "Arriba», respectively, can be analized and lead to paths of investigation on Social Catholicism and Fascism in Spain.

  16. Credit risk transfer

    OpenAIRE

    Bank for International Settlements

    2003-01-01

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

  17. Modern bank's credit risk

    Directory of Open Access Journals (Sweden)

    Šabović Šerif

    2015-01-01

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

  18. Dual Credit Report

    Science.gov (United States)

    Light, Noreen

    2016-01-01

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

  19. Methodology for estimating aquifer recharge direct mfisurado system by the method of ripple of free (WTF) surface Mina Arenal departamento de Rivera

    International Nuclear Information System (INIS)

    Iardino, G.; González, G.; Montaño, J.

    2010-01-01

    The study area is framed in the so-called Crystal Island Rivera region of economic importance to Uruguay considering the gold occurrences . The company Uruguay Mineral Exploration Inc. (UME ) develops prospective exploration projects in the region since 1997 The discovery of a deposit of gold ore results in the opening of the Arenal mine near the town of Minas de Corrales, Department Rivera .Income groundwater to the quarry would affect the progress of the mineral extractive work to control this situation and monitors the evolution of a monitoring program is established with the potentiometric measurement levels and hydrological variables meteorelógicas.The data obtained allowed to estimate the direct recharge of the aquifer system in the area comprising the operational work of the Arenal mine, by applying the method of free surface fluctuation (WTF ) .The WTF method provides an estimate of groundwater recharge by analyzing water level fluctuations in observation wells

  20. Trust and Credit

    DEFF Research Database (Denmark)

    Harste, Gorm

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

  1. Credit Risk Modeling

    DEFF Research Database (Denmark)

    Lando, David

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

  2. LAS RELACIONES HISPANO-HELÉNICAS DURANTE LAS DICTADURAS DE LOS GENERALES PRIMO DE RIVERA EN ESPAÑA Y PÁNGALOS EN GRECIA (1923-1926

    Directory of Open Access Journals (Sweden)

    Matilde Morcillo Rosillo

    2011-05-01

    Full Text Available RESUMEN Este trabajo es una aproximación al estudio de las relaciones hispano-helénicas durante las dictaduras militares de los generales Primo de Rivera en España y Pángalos en Grecia, a través de la prensa griega, la primera, y la correspondencia diplomática española, la segunda. Especial importancia requiere el papel desempeñado por el escritor griego Nikos Kazantzakis como enviado especial del general Pángalos para analizar la situación político-económica y artística de España, teniendo como telón de fondo las circunstancias políticas que tanto en Grecia como en España se están viviendo en esos momentos, e impulsar las relaciones entre ambas naciones, deterioradas después de la Primera Guerra Mundial. Palabras clave: Dictaduras, Primo de Rivera, España, Pángalos, Grecia, Kazantzakis. ABSTRACT This paper is an approach to the study of the Hispano-Hellenic relationships during the military dictatorships of the Primo de Rivera in Spain and Pángalos in Greece, through the Greek press, the first one, and the diplomatic Spanish correspondence, the second one. Special importance requires the role carried out by the Greek writer Nikos Kazantzakis as a special correspondent of general Pángalos to analyze the politico-economic and artistic situation of Spain, having as backdrop the political circumstances of both Greece and Spain in that moment, as well as to impel the relationships between both nations, deteriorated after the First World War. Key words: Dictatorships, Primo de Rivera, Spain, Pángalos, Greece, Kazantzakis.

  3. Credit risk management in banks

    OpenAIRE

    Pětníková, Tereza

    2014-01-01

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

  4. Credit derivatives in emerging markets

    OpenAIRE

    Romain Rancière

    2002-01-01

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

  5. Public Service? Tax Credits?

    Science.gov (United States)

    Shanker, Albert

    1982-01-01

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

  6. Burnup credit in Spain

    International Nuclear Information System (INIS)

    Conde, J.M.; Recio, M.

    2001-01-01

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

  7. Sales forecasting during the credit crisis

    NARCIS (Netherlands)

    Udenio, M.

    2010-01-01

    The work contained herein concerns the influence of supply chain dynamics in the effects of the (ongoing) international credit crisis. This project was carried out within Royal DSM N.V, a dutch life sciences and performance materials company. During the second half of 2008, DSM sales plummeted;

  8. ASSESSING THE EFFECTIVENESS OF CREDIT RISK MAN ...

    African Journals Online (AJOL)

    User

    The study was conducted using 20 Micro-firms in Accra which ... Journal of Science and Technology, Vol. ... RESEARCH PAPER ... capital (measured by the borrower's net worth), ... number of firms existing in the market and the ... agers and/or staff of the credit management .... the firm's risk tolerance and the level of profit-.

  9. Credit Risk Evaluation System: An Artificial Neural Network Approach

    African Journals Online (AJOL)

    On the other hand, this kind of bank's activity is connected with high risk as big amount of bad decisions may even cause bankruptcy. The key problem consists of distinguishing good (that surely repay) and bad (that likely default) credit applicants. Credit risk evaluation is an important and interesting management science ...

  10. CREDIT Performance Indicator Framework

    DEFF Research Database (Denmark)

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

    2010-01-01

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

  11. Transposition of the Mortgage Credit Directive into Hungarian and Czech law – The Problem of Credit Intermediaries

    Czech Academy of Sciences Publication Activity Database

    Simon, Rita

    2017-01-01

    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

  12. El escritor, las sombras y la Patria: En esta dulce tierra de Andrés Rivera The writer, the shadows and the homeland in Andrés Rivera's "La dulce tierra"

    Directory of Open Access Journals (Sweden)

    Carmen Perilli

    2007-12-01

    Full Text Available La novela En esta dulce tierra arma un simulacro histórico que se desintegra en una narración de finales múltiples. Parodia su nombre "en esta dulce tierra" ya que el circunstancial anuncia sucesos terribles que hacen estallar el adjetivo. Remite a la literatura decimonónica, en especial a los romances fundacionales como Amalia de José Mármol. La nación se imagina como espacio cerrado, clausurado por el despotismo en el asilo, la morgue, la cárcel, el sótano. Los protagonistas se mueven ilusoriamente de Sur a Norte. Si Sarmiento invoca la sombra de Facundo, Rivera evoca en Cufré otras propias sombras, dobles en tiempos y lugares otros. La narración de la historia argentina es la narración de una derrota, la de la civilización. La imagen histórica es disfórica: el mundo está enfermo, ebrio de sangre y violencia. Facundo es la sombra de la barbarie, cifra de la naturaleza americana, producto de los llanos riojanos. Cufré es la sombra de una clase "culta" que dibuja en su trayectoria una figura paradojal. Las dos son víctimas de una tierra concebida como naturaleza bárbara en un caso y de una tierra construida como patria siniestra en el otro. El Poder actúa como una segunda naturaleza que, en esta tierra, tiene el sabor de la muerte.The novel En esta dulce tierra sets up a historical pretense that disintegrates into several endings. The title is an irony, since terrible events take place in this "sweet land." It refers to the literature of the XIX century, especially to the founding romances such as that of José Mármol's Amalia. The nation is envisioned as a closed space relegated by despotism to the asylum, the morgue, the jail, the basement. The characters live an illusion moving from north to south. If Sarmiento invokes the shadow of Facundo, Rivera evokes some of his own shadows in Cufré, doubles in different times and spaces. The narration of the Argentine history is a story of defeat: civilizarion's. The historical

  13. Latinos in the Credit Economy

    OpenAIRE

    Ralph, Lisa M.

    2010-01-01

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

  14. Credit derivatives and risk management

    OpenAIRE

    Michael S. Gibson

    2007-01-01

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

  15. Models of Credit Risk Measurement

    OpenAIRE

    Hagiu Alina

    2011-01-01

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

  16. UWHS Climate Science: Uniting University Scientists and High School Teachers in the Development and Implementation of a Dual-Credit STEM-Focused Curriculum

    Science.gov (United States)

    Bertram, M. A.; Thompson, L.; Ackerman, T. P.

    2012-12-01

    The University of Washington is adapting a popular UW Atmospheric Sciences course on Climate and Climate Change for the high school environment. In the process, a STEM-focused teaching and learning community has formed. With the support of NASA Global Climate Change Education 20 teachers have participated in an evolving professional development program that brings those actively engaged in research together with high school teachers passionate about bringing a formal climate science course into the high school. Over a period of several months participating teachers work through the UW course homework and delve deeply into specific subject areas. Then, during a week-long summer institute, scientists bring their particular expertise (e.g. radiation, modeling) to the high school teachers through lectures or labs. Together they identify existing lectures, textbook material and peer-reviewed resources and labs available through the internet that can be used to effectively teach the UW material to the high school students. Through this process the scientists learn how to develop teaching materials around their area of expertise, teachers engage deeply in the subject matter, and both the university and high school teachers are armed with the tools to effectively teach a STEM-focused introductory course in climate science. To date 12 new hands-on modules have been completed or are under development, exploring ice-cores, isotopes, historical temperature trends, energy balance, climate models, and more. Two modules have been tested in the classroom and are ready for peer-review through well-respected national resources such as CLEAN or the National Earth Science Teachers Association; three others are complete and will be implemented in a high school classroom this year, and the remainder under various stages of development. The UWHS ATMS 211 course was piloted in two APES (Advanced Placement Environmental Science classrooms) in Washington State in 2011/2012. The high school

  17. Imaging b-value depth variations within the Cocos and Rivera plates at the Mexican subduction zone

    Science.gov (United States)

    Rodríguez-Pérez, Quetzalcoatl; Zuñiga, F. Ramón

    2018-06-01

    By a systematic mapping of the b-value along profiles perpendicular to the Mexican Wadati-Benioff zone, we obtained important characteristics pertaining the stress state and faulting style related to the subduction process. To this purpose, we used data from the earthquake catalog reported by the Servicio Sismologico Nacional (1988-2016). We investigate depth variations of the b-value for the Cocos and Rivera under North American plates interface, by a detailed analysis of 15 cross-sections. The obtained b-value profiles vary from 0.50 to 2.50, which nevertheless appear related to the faulting style and stress state. By comparing the locations and focal mechanism of the largest events with the b-values of the surrounding regions, our analysis corroborates the dependence of the b-value on the faulting style. Thrust events occur in regions of low and high b-value at depths 30 km), in agreement with global studies. These results support the hypothesis that differential stress processes may be behind the occurrence of the different faulting style. On the contrary, by analyzing the mean b-values for both types of faulting mechanism at each of the cross-sections, we found a significantly lower mean b-value related to normal faulting for those regions where the 8 (Mw 8.2) and 19 (Mw 7.1) September 2017 earthquakes occur. These results lead us to conclude that those regions experienced an increased stress state prone to the occurrence of normal-intraplate events. We also compare the b-value distribution with Vp and Q tomography studies obtaining a good correlation between them. We found evidence to relate b-value variations with subduction processes such as stress state due to tectonic and flexural conditions, and to a lesser extent to material heterogeneity and fluid dehydration.

  18. Recommendations for Alternative Credit.

    Science.gov (United States)

    Lenderman, Ed; And Others

    Following a review of the mathematics topics taught in accounting, electronics, auto, food and clothing, and metals courses at Linn-Benton Community College, Albany, Oregon, recommendations were made to grant one semester of mathematics credit for completing a two-year sequence of these courses. The other required semester of mathematics should be…

  19. Earned Income Tax Credit

    NARCIS (Netherlands)

    F.M. van Oers; R.A. de Mooij (Ruud)

    1998-01-01

    textabstractIn recent policy discussions in the Netherlands, the Earned Income Tax Credit (EITC) has been put forward as an effective instrument to reduce the unemployment rate among low-skilled workers. Using the MIMIC model, this article shows that a targeted EITC at low incomes indeed seems

  20. Waiting for tax credits

    International Nuclear Information System (INIS)

    Sheinkopf, K.

    1992-01-01

    This article examines the effect of tax credits and related legislation under consideration by Congress on the economics of the renewable energy industry. The topics discussed in the article include conflicting industry opinion on financial incentives, the effectiveness of current incentives, and alternative approaches. The article also includes a sidebar on tax incentives offered by state programs

  1. CO2 credit or energy credit in emission trading?

    International Nuclear Information System (INIS)

    Hu, E.

    2002-01-01

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

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

    OpenAIRE

    Han, Lu

    2006-01-01

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

  3. LAS RELACIONES DE DOS REGÍMENES AUTORITARIOS: ESPAÑA Y CHILE DURANTE LOS GOBIERNOS DE PRIMO DE RIVERA E IBÁÑEZ DEL CAMPO

    Directory of Open Access Journals (Sweden)

    Juan Luis Carrellán Ruiz

    2011-05-01

    Full Text Available RESUMEN Este trabajo quiere poner de relieve la importancia que tuvieron las relaciones diplomáticas y económicas entre España y Chile durante los mandatos de Primo de Rivera e Ibáñez del Campo y para ello se ha analizado la documentación diplomática existente en diversos archivos españoles y chilenos. También refleja las opiniones vertidas en la prensa española sobre la política diseñada por el coronel Carlos Ibáñez. Estas relaciones se basaron en las simpatías ideológicas de los dos regímenes que propiciaron unas conexiones muy intensas en diferentes ámbitos como fueron las de índole política y diplomática con la firma de un tratado de arbitraje y la elevación al máximo nivel de las respectivas legaciones; las de carácter militar con la formación de oficiales chilenos en escuelas españolas; y las de signo comercial con dos acuerdos, uno de rebaja de aranceles y otro para el internamiento de salitre en territorio español. Palabras Claves: Dictadura, España, Primo de Rivera, Chile, Ibáñez del Campo. ABSTRACT This work wants to emphasize the importance of the diplomatic and economic relations, which took place during Primo de Rivera and Ibáñez del Campo mandates, between Spain and Chile. For that purpose, there has been analyzed the diplomatic existing documentation in different Spanish and Chilean Archives. It also reflects the opinions written on the Spanish press about the politics designed by Colonel Carlos Ibanez. These relations were based on the ideological sympathy of both regimes which propitiated very intense connections in different areas, such the political and diplomatic areas with the arbitration agreement signature and the elevation to the maximum level of both legations, those of military character with the Chilean officials training in Spanish training centres, and those of commercial sign with two agreements, the reduction of duties and the internment of saltpetre in Spanish territory. Key Words

  4. Consumer Handbook to Credit Protection Laws.

    Science.gov (United States)

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

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

  5. Dynamic Virtual Credit Card Numbers

    Science.gov (United States)

    Molloy, Ian; Li, Jiangtao; Li, Ninghui

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

  6. Dynamic Diversification in Corporate Credit

    DEFF Research Database (Denmark)

    Christoffersen, Peter; Jacobs, Kris; Jin, Xisong

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

  7. Are carbon credits effective?

    International Nuclear Information System (INIS)

    Anon.

    2010-01-01

    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

  8. The African Credit Trap

    OpenAIRE

    Svetlana Andrianova; Badi H. Baltagi; Panicos O. Demetriades; David Fielding

    2010-01-01

    We put forward a plausible explanation of African financial underdevelopment in the form of a bad credit market equilibrium. Utilising an appropriately modified IO model of banking, we show that the root of the problem could be unchecked moral hazard (strategic loan defaults) or adverse selection (a lack of good projects). We provide empirical evidence from a large panel of African banks which suggests that loan defaults are a major factor inhibiting bank lending when the quality of regulatio...

  9. Credit scoring methods

    Czech Academy of Sciences Publication Activity Database

    Vojtek, Martin; Kočenda, Evžen

    2006-01-01

    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

  10. Follow Up: Credit Card Caution

    Science.gov (United States)

    Cahill, Timothy P.

    2007-01-01

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

  11. Intertemporal consumption and credit constraints

    DEFF Research Database (Denmark)

    Leth-Petersen, Søren

    2010-01-01

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

  12. Credit-proofing fundamentals for a solid credit policy

    Energy Technology Data Exchange (ETDEWEB)

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

    2003-07-01

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

  13. Credit-proofing fundamentals for a solid credit policy

    International Nuclear Information System (INIS)

    Lydiatt, I.

    2003-01-01

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

  14. Value of credit bureau reports

    Directory of Open Access Journals (Sweden)

    Brković Milan

    2017-01-01

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

  15. Credit Rating and Competition

    OpenAIRE

    Nelson Camanho; Pragyan Deb; Zijun Liu

    2010-01-01

    In principle, credit rating agencies are supposed to be impartial observers that bridge the gap between private information of issuers and the information available to the wider pool of investors. However, since the 1970s, rating agencies have relied on an issuer-pay model, creating a conflict of interest the largest source of income for the rating agencies are the fees paid by the issuers the rating agencies are supposed to impartially rate. In this paper, we explore the trade-off between re...

  16. 12 CFR 561.12 - Consumer credit.

    Science.gov (United States)

    2010-01-01

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

  17. Quality of urban forest carbon credits

    Science.gov (United States)

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

    2011-01-01

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

  18. Credit scoring for individuals

    Directory of Open Access Journals (Sweden)

    Maria DIMITRIU

    2010-12-01

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

  19. Católicos, devociones y sociedad durante la Dictadura de Primo de Rivera y la Segunda República. La Obra del Amor Misericordioso en España (1922-1936). [Reseña

    OpenAIRE

    Illanes, J.L. (José Luis)

    2009-01-01

    Reseña de KM. REQUENA, Católicos, devociones y sociedad durante la Dictadura de Primo de Rivera y la Segunda República. La Obra del Amor Misericordioso en España (1922-1936), Biblioteca Nueva Madrid 2008, 359 pp., ISBN 978-84-9742-877-4.

  20. Permit trading and credit trading

    DEFF Research Database (Denmark)

    Boom, Jan-Tjeerd; R. Dijstra, Bouwe

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

  1. Concurrent credit portfolio losses.

    Science.gov (United States)

    Sicking, Joachim; Guhr, Thomas; Schäfer, Rudi

    2018-01-01

    We consider the problem of concurrent portfolio losses in two non-overlapping credit portfolios. In order to explore the full statistical dependence structure of such portfolio losses, we estimate their empirical pairwise copulas. Instead of a Gaussian dependence, we typically find a strong asymmetry in the copulas. Concurrent large portfolio losses are much more likely than small ones. Studying the dependences of these losses as a function of portfolio size, we moreover reveal that not only large portfolios of thousands of contracts, but also medium-sized and small ones with only a few dozens of contracts exhibit notable portfolio loss correlations. Anticipated idiosyncratic effects turn out to be negligible. These are troublesome insights not only for investors in structured fixed-income products, but particularly for the stability of the financial sector. JEL codes: C32, F34, G21, G32, H81.

  2. A Pale Reflection of Fascism: Primo de Rivera’s Dictatorship in Italian Diplomatic Reports | Un pálido reflejo del fascismo: la dictadura de Primo de Rivera en los informes diplomáticos italianos

    Directory of Open Access Journals (Sweden)

    Juan Avilés Farré

    2017-12-01

    Full Text Available This essay analyses the information on and the assessments of home politics in Spain during the Primo de Rivera regime (1923-1930. Those reports provide interesting first-hand accounts on the regime and have the additional value of offering a comparison with the simultaneous experience of the Italian fascist regime. They confirm that Primo de Rivera had a persistent tendency to seek inspiration in the fascist model. This eventually led to the unsuccessful attempt to institutionalize the regime in 1929, although according to the Italian diplomats Primo de Rivera’s dictatorship reached no further than a pale reflection of fascism. | Este ensayo analiza las informaciones y las valoraciones de los diplomáticos italianos sobre la política interior de España durante el régimen de Primo de Rivera (1923-1930. Sus informes ofrecen interesantes referencias de primera mano sobre el régimen y presentan el interés adicional de ofrecer una comparación con la simultánea experiencia del régimen fascista italiano. Confirman que Primo de Rivera tuvo una persistente tendencia a inspirarse en el modelo fascista, que culminó en el fracasado intento de institucionalizar el régimen en 1929, aunque en opinión de los diplomáticos italianos la dictadura de Primo de Rivera sólo llegó a representar un pálido reflejo del fascismo.

  3. Identité hors territoire. Les élites espagnoles exilées en France sous la dictature de Primo de Rivera (1923-1930

    Directory of Open Access Journals (Sweden)

    Elvire Diaz

    2006-09-01

    Full Text Available Le territoire étant un point d’ancrage de l’identité individuelle et nationale, nous verrons dans ce travail si hors territoire, il peut y avoir préservation de l’identité, individuelle, collective, nationale, débouchant sur une dé-territorialisation, au sens défini par Gilles Deleuze. Notre objet d’étude portera sur le cas d’une micro-société hors territoire, les élites intellectuelles espagnoles exilées en France sous la dictature du Général Miguel Primo de Rivera (1923-1930.Le général Mig...

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

    Directory of Open Access Journals (Sweden)

    Oriol Amat

    2017-01-01

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

  5. Credit demand in Mozambican manufacturing

    DEFF Research Database (Denmark)

    Byiers, Bruce; Rand, John; Tarp, Finn

    2010-01-01

    This paper uses two industrial firm surveys to identify the key determinants of credit demand in Mozambican manufacturing. We construct five different measures of being credit constrained and estimate desired debt demand. Besides firm size and ownership structure, we find evidence that general...

  6. Store Security. Credit Card Fraud.

    Science.gov (United States)

    Brockway, Jerry

    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…

  7. Tuition Tax Credits. Issuegram 19.

    Science.gov (United States)

    Augenblick, John; McGuire, Kent

    Approaches for using the federal income tax system to aid families of pupils attending private schools include: tax credits, tax deductions, tax deferrals, and education savings incentives. Tax credit structures can be made refundable and made sensitive to taxpayers' income levels, the level of education expenditures, and designated costs.…

  8. 12 CFR 703.6 - Credit analysis.

    Science.gov (United States)

    2010-01-01

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

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

    Science.gov (United States)

    Fox, Linda Kirk

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

  10. 7 CFR 4280.139 - Credit quality.

    Science.gov (United States)

    2010-01-01

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

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

    OpenAIRE

    Umutoni, Liliane

    2017-01-01

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

  12. An Anonymous Credit Card System

    Science.gov (United States)

    Androulaki, Elli; Bellovin, Steven

    Credit cards have many important benefits; however, these same benefits often carry with them many privacy concerns. In particular, the need for users to be able to monitor their own transactions, as well as bank’s need to justify its payment requests from cardholders, entitle the latter to maintain a detailed log of all transactions its credit card customers were involved in. A bank can thus build a profile of each cardholder even without the latter’s consent. In this paper, we present a practical and accountable anonymous credit system based on ecash, with a privacy preserving mechanism for error correction and expense-reporting.

  13. War of the Credit Cards.

    Science.gov (United States)

    Nicklin, Julie L.

    1993-01-01

    Increasingly, colleges are offering affinity credit cards with attractive incentives as a marketing tool. Some in academe feel the trend may compromise educational objectives. Institutions may also face taxation on unrelated-business income generated through the cards. (MSE)

  14. Armenia - Water to Market Credit

    Data.gov (United States)

    Millennium Challenge Corporation — The analysis of WtM credit used baseline and final follow-up Farming Practices Survey (FPS) data to summarize beneficiary and loan characteristics, as well as to...

  15. Trade Credit and Informational Asymmetry.

    OpenAIRE

    Smith, Janet Kiholm

    1987-01-01

    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...

  16. Capital Requirements and Credit Rationing

    OpenAIRE

    Itai Agur

    2010-01-01

    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...

  17. Credit Stagnation in Latin America

    OpenAIRE

    Adolfo Barajas; Roberto Steiner

    2002-01-01

    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...

  18. THE CREDIT AND CREDIT RISK MANAGEMENT DURING THE CRISIS

    Directory of Open Access Journals (Sweden)

    Chitan Gheorghe

    2012-03-01

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

  19. 49 CFR 260.13 - Credit reform.

    Science.gov (United States)

    2010-10-01

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

  20. 76 FR 79531 - Corporate Credit Unions

    Science.gov (United States)

    2011-12-22

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

  1. 49 CFR 536.4 - Credits.

    Science.gov (United States)

    2010-10-01

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

  2. Trade credit: Elusive insurance of firm growth

    NARCIS (Netherlands)

    Bams, Dennis; Bos, Jaap; Pisa, Magdalena

    2016-01-01

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

  3. Lending and Credit Monitoring Principles

    Directory of Open Access Journals (Sweden)

    Viorica IOAN

    2012-11-01

    Full Text Available The results of a bank’s activities depend to a significant extent on the quality of the credit portfolio that it holds, as well as on the credit tracking and control system. The purpose and functioning of such inter-banking systems differs from one bank to another. Loans require an increasingly efficient type of internal surveillance of activity. Following the clients’ behavior and performances, as well as their entire activity is a particularly important phase and absolutely necessary in the course of a loan. The purpose of this activity is, generally, that of identifying, as early as possible, of clues about any problems that may appear during the course of the loan, so as to make possible, as early as can be, the taking of remedial measures with a view to anticipate the deterioration of the loan’s debt. An open communication between the bank and the loan’s beneficiary is an essential condition for an efficient tracking program. Another basic element is the rigorous and complete filling out of the credit papers. The credit files are the backbone of the of the loan monitoring process because these contain all of the documents which may offer to the credit officer, accounting expert, as well as other interested parties a permanent, chronological record of the loan relation.

  4. Effect of Organic and Conventional Fertilization on the Growth and Production of Theobroma Cacao L. Under an Agroforestry System in Rivera (Huila, Colombia

    Directory of Open Access Journals (Sweden)

    Faver Álvarez Carrillo

    2015-07-01

    Full Text Available The impact of organic fertilizing schemes on the cocoa (Theobroma cacao L. growth and production under agroforestry systems (AFS has been scarcely studied. In this sense, in Rivera (Huila-Colombia, the effect of different management strategies for amendment application in cocoa under agroforestry systems was evaluated. Four treatments were considered: i conventional fertilizing or farmer fertilizing (chemical, T1; ii Potassium sulfate (chemical, T2; iii eco-cocoa + Super 4 (ECO-S4 (organical, T3; and iv the mixture of among the treatments with potassium sulfate + eco-cocoa (SP-ECO (chemical + organical, T4. Variance analysis, Fisher test (p<0.05 and principal components analysis (PCA were used for data comparisons. For the height of cocoa plants, there was an average increase of 22.5 cm, while for stem diameter was 4.71 cm, with significant differences between the treatments. In general, an effect of the fertilizing scheme on the agronomic parameters of cocoa evaluated was found —especially for some important variables such as number of grains per pod and average weight of the grain—. There were similar parameters between the chemical and the organic treatments. This demonstrates that organic schemes of fertilizing could be an important alternative for improving cocoa production.

  5. Entrevista a Iñaki Rivera Beiras. “La Universidad tiene que jugar un papel importantísimo en la cárcel”

    Directory of Open Access Journals (Sweden)

    Afilo Revista Digital - Universidad Nacional de Córdoba

    2012-09-01

    Full Text Available Considerado uno de los más destacados especialistas a nivel internacional de la criminología “garantista”, este argentino-catalán es también uno de esos tipos que incomoda al poder. Siempre. Esté donde esté. Desde la academia, en su puesto de profesor titular de ejecución penal y derecho penitenciario en la universidad de Barcelona, o desde la acción, a través del Observatorio de Derechos Humanos que en 2001 ayudó a crear con el objetivo de abordar el complejo mundo penitenciario. Hipercrítico de la situación argentina y mundial por sus fracasadas políticas de encierro indiscriminado y violación sistemática de los derechos humanos de los presos, Iñaki Rivera Beiras en entrevista con Alfilo habla de todo lo que sucede adentro y afuera de la institución insigne del sistema penal: la cárcel.

  6. Credit Rationing Effects of Credit Value-at-Risk

    NARCIS (Netherlands)

    J.F. Slijkerman; D.J.C. Smant (David); C.G. de Vries (Casper)

    2004-01-01

    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

  7. Who needs credit and who gets credit in Eastern Europe

    NARCIS (Netherlands)

    Brown, M.; Ongena, S.; Popov, A.; Yesin, P.

    2011-01-01

    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

  8. Credit Supply and Corporate Innovation

    DEFF Research Database (Denmark)

    Amore, Mario Daniele; Schneider, Cédric; Zaldokas, Alminas

    We present evidence that banking development plays a key role in technological progress. We focus on firms’ innovative performance, measured by patent-based metrics, and employ exogenous variations in banking development arising from the staggered deregulation of banking activities across U.S. st...... by a greater ability of deregulated banks to geographically diversify credit risk....

  9. Methodology of Credit Analysis Development

    Directory of Open Access Journals (Sweden)

    Slađana Neogradi

    2017-12-01

    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.

  10. Credit rating dynamics and competition

    DEFF Research Database (Denmark)

    Hirth, Stefan

    2014-01-01

    I analyze the market for credit ratings with competition between more than two rating agencies. How can honest rating behavior be achieved, and under which conditions can a new honest rating agency successfully invade a market with inflating incumbents? My model predicts cyclic dynamics...

  11. Credit Derivatives and Loan Pricing

    NARCIS (Netherlands)

    Norden, L.; Wagner, W.B.

    2007-01-01

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

  12. Insurability of export credit risks

    NARCIS (Netherlands)

    Alsem, K.J.; Antufjew, J.; Huizingh, K.R.E.; Koning, Ruud H.; Sterken, E.; Woltil, M.

    2003-01-01

    Firms exporting their goods and services abroad face risks that are different from the risks faced by firms who do not engage in international trade. It is common practice to allow the receiving party to pay in instalments. The exporting firm faces credit risk, but as in most countries, Dutch firms

  13. Brownfields New Markets Tax Credits

    Science.gov (United States)

    This Brownfi elds Solutions factsheet is intended for brownfields stakeholders interested in how the U.S. Department of the Treasury’s New Markets Tax Credit (NMTC) Program can be used as a financing mechanism in brownfields cleanup and redevelopment.

  14. A Mechanism for Anonymous Credit Card Systems

    Science.gov (United States)

    Tamura, Shinsuke; Yanase, Tatsuro

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

  15. Credit Card Debt Hardship Letter Samples

    OpenAIRE

    lissa coffey

    2016-01-01

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

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

    Directory of Open Access Journals (Sweden)

    Xin Song

    2017-03-01

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

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

    OpenAIRE

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

    1998-01-01

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

  18. British and American attitudes toward credit cards.

    Science.gov (United States)

    Yang, Bijou; James, Simon; Lester, David

    2006-04-01

    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.

  19. Portfolio Optimization for Multiple Group Credit Unions

    National Research Council Canada - National Science Library

    Willis, John

    1999-01-01

    ...) 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...

  20. Fish marketing and credit in Viet Nam

    National Research Council Canada - National Science Library

    Lem, Audun

    2004-01-01

    .... 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.

  1. Credit Risk Transfer and Crunches

    DEFF Research Database (Denmark)

    Wigan, Duncan

    2010-01-01

    Rather than in terms of the inevitable demise of a destabilising process of speculation, this article explores the ‘credit crunch’ as a window on the fabrication, and measure of the proportions of a political shift driven by market actors and financial innovation. The Basel process reconceptualised...... banks as risk navigators and generated a competitive hierarchy within the global banking industry determined on a gauge of this capacity. This private regulatory regime promoted market inflation and rendered institutional liquidity and risk transfer definitive of market power. In turn, a ballooning...... credit derivatives market broke the limits of financial production and defined state actions in the face of crisis. A shift from a central concern with solvency to that of liquidity thinly masks a profound redistribution of power from the public to the private. By swapping private assets of uncertain...

  2. KARAKTERISTIK PERUSAHAAN DAN CREDIT RISK

    Directory of Open Access Journals (Sweden)

    Erma Wahdani Permanasari

    2014-05-01

    Full Text Available The purpose of this study is to determine the effect of characteristic of firm to the level of creditrisk. Characteristics of the firm is proxied by size, leverage, spread ownership, net profit margin,return on equity, industry type and scope of the company’s operations. Measurement of level creditrisk uses PT Pefindo bond rating. Annual reports of listed companies in PT Pefindo and IndonesiaStock Exchange (IDX 2010-2011 are collected based on purposive sampling techniques. Thepopulation is 238 companies. Sample used amounted to 84 companies. The analysis model usedin this study is multiple linear regression. Results of this study indicate that the level of corporatecredit risk in Indonesia is high because it is below the 50.00%. The test result of multiple regressionshowed that firm of characteristic affect the level of credit risk. Firm characteristics that affectthe level of credit risk are size, leverage, dispersion of ownership, net profit margin and returnon equity.

  3. STATE CREDIT RATING MARK: PRESENT DOMESTIC REALITIES

    OpenAIRE

    Kovalko, N. M.

    2017-01-01

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

  4. Did Globalization Influence Credit Market Deregulation

    OpenAIRE

    Eppinger, Peter; Potrafke, Niklas

    2015-01-01

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

  5. Service quality in consumer's credit branch

    OpenAIRE

    Blechová, Věra

    2008-01-01

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

  6. Developing emission reduction credit trading in Texas

    International Nuclear Information System (INIS)

    Dodds, J.E.

    1993-01-01

    The Texas Air Control Board has begun to develop a system of emission reduction credit training. The system will be developed incrementally over time. The first step, banking of VOC and NO x Emission Reduction Credits, began March 15, 1993. Additional programs under study and development include NO x RACT trading, emission credits for motor vehicle scrappage and alternative fuel conversion, and establishment of community organizations to generate and acquire emission reduction credits for economic development purposes

  7. Credits

    Directory of Open Access Journals (Sweden)

    - -

    2013-07-01

    Full Text Available Ministério da EducaçãoSecretaria de Educação Profissional e TecnológicaInstituto Federal de Educação, Ciência e Tecnologia Fluminense Reitor Luiz Augusto Caldas Pereira Pró-Reitor de Ensino Carlos Márcio Lima Pró-Reitor de Pesquisa e Inovação José Augusto Ferreira da Silva Pró-Reitora de Extensão Paula Aparecida Martins Borges BastosEditora-Chefe Inez Barcellos de Andrade Coordenação Editorial do Boletim Maria Inês Paes Ferreira Conselho Editorial Conselho Consultivo Edinalda Almeida da SilvaHelvia Pereira Pinto BastosJefferson Manhães de AzevedoLuiz de Pinedo Quinto JuniorMaria Amelia Ayd CorrêaMaria Inês Paes FerreiraPedro de Azevedo Castelo BrancoRegina Coeli Martins AquinoRogério Atem de CarvalhoRomeu e Silva NetoSaid Sérgio Martins AuattSalvador TavaresSergio VasconcelosSilvia Lúcia dos Santos BarretoSynthio Vieira de AlmeidaVania Cristina Alexandrino BernardoVicente de Paulo Santos OliveiraWander Gomes Ney Adalberto Cardoso (IESP/UERJAntonio Carlos Secchin (UFRJAntônio José da Silva Neto (IPRJ/UERJAsterio Kiyoshi Tanaka (UNIRIO e UFRJErica Maria Pellegrini Caramaschi (UFRJFernando Benedicto Mainier (UFFFernando Pruski (UFVFrancisco de Assis Esteves (UFRJGaudêncio Frigotto (UFFHamilton Jorge de Azevedo (UFRRJHelder Gomes Costa (UFFIná Elias de Castro (UFRJJader Lugon Junior (IFF/UERJ/SENAIJanete Bolite Frant (UNIBANJosé Abdallah Helayël-Neto (CBPF/MCTMiriam Fontelle (UNIFLU e UNESARodrigo Valente Serra (ANPRonaldo Pinheiro da Rocha Paranhos (UENFSérgio Arruda de Moura (UENFVera Lucia Marques da Silva (FBPNVirgínia Maria Gomes de Mattos Fontes (UFF Organizadores deste númeroMaria Inês Paes FerreiraJader Lugon JuniorLuiz de Pinedo Quinto JúniorBolsista de Iniciação CientíficaCamilla Cardoso da Costa Revisão de Língua Portuguesa e Inglesa Edson Carlos NascimentoIsabela Bastos de CarvalhoKissila Ferreira de SouzaPriscila Matos MonkenRosângela Caldas Projeto Gráfico André da Silva CruzEric Moreira Carvalho Diagramação Cláudia Marcia Alves FerreiraFernando Prado de Matos BettencourtMariana de Almeida Reis CapaAndré da Silva Cruz Revisão Técnica e Catalogação Inez Barcellos de Andrade Dados de Catalogação na Publicação (CIP B688      Boletim do Observatório Ambiental Alberto Ribeiro Lamego / InstitutoFederal de Educação, Ciência e Tecnologia Fluminense.Observatório Ambiental Alberto Ribeiro Lamego. - Vol. 1, no. 1(jan./jun. 2011 - .- Campos dos Goytacazes (RJ: Essentia Editora,2011- SemestralCentro Federal de Educação Tecnológica de Campos - CEFET Camposaté 2008. Instituto Federal de Educação, Ciência e Tecnologia - IF Fluminense apartir de 2009. ISSN versão impressa 1981-6197ISSN versão eletrônica 2177-4560 1. Engenharia ambiental. I. Instituto Federal de Educação, Ciência eTecnologia Fluminense. II. Observatório Ambiental Alberto Ribeiro Lamego. CDD - 628 Tiragem: 1000 exemplares Impressão: Meneghitti's Gráfica e Editora Ltda. | Tel.: (21 2136-6999

  8. Credits

    Directory of Open Access Journals (Sweden)

    . .

    2015-02-01

    Full Text Available Ministério da EducaçãoSecretaria de Educação Profissional e TecnológicaInstituto Federal de Educação, Ciência e Tecnologia FluminenseReitorLuiz Augusto Caldas PereiraPró-Reitor de EnsinoCarlos Márcio LimaPró-Reitor de Pesquisa e InovaçãoJosé Augusto Ferreira da SilvaPró-Reitora de ExtensãoPaula Aparecida Martins Borges BastosPró-Reitora de Desenvolvimento InstitucionalAna Lúcia CampinhoCoordenadora da Essentia EditoraKíssila da Conceição RibeiroConselho EditorialConselho ConsultivoDesiely Silva GusmãoEdinalda Almeida da SilvaHelvia Pereira Pinto BastosInez Barcellos de AndradeJefferson Manhães de AzevedoKíssila da Conceição RibeiroLuiz de Pinedo Quinto JuniorMaria Amelia Ayd CorrêaMaria Inês Paes FerreiraPedro de Azevedo Castelo BrancoRegina Coeli Martins AquinoRogério Atem de CarvalhoRomeu e Silva NetoSaid Sérgio Martins AuattSalvador TavaresSergio VasconcelosSilvia Lúcia dos Santos BarretoSynthio Vieira de AlmeidaVania Cristina Alexandrino BernardoVicente de Paulo Santos OliveiraWander Gomes NeyAdalberto Cardoso (IESP/UERJAntonio Carlos Secchin (UFRJAntônio José da Silva Neto (IPRJ/UERJAsterio Kiyoshi Tanaka (UNIRIO e UFRJErica Maria Pellegrini Caramaschi (UFRJFernando Benedicto Mainier (UFFFernando Pruski (UFVFrancisco de Assis Esteves (UFRJGaudêncio Frigotto (UFFHamilton Jorge de Azevedo (UFRRJHelder Gomes Costa (UFFIná Elias de Castro (UFRJJader Lugon Junior (IFF/UERJ/SENAIJanete Bolite Frant (UNIBANJosé Abdallah Helayël-Neto (CBPF/MCTRodrigo Valente Serra (ANPRonaldo Pinheiro da Rocha Paranhos (UENFSérgio Arruda de Moura (UENFVera Lucia Marques da Silva (FBPNVirgínia Maria Gomes de Mattos Fontes (UFFEquipe EditorialRevisão de Língua PortuguesaEdson Carlos NascimentoDenise Rena HaddadRevisão de Língua InglesaHélvia Pereira Pinto BastosCapa, Projeto GráficoAndré da Silva CruzDiagramaçãoCláudia Marcia Alves FerreiraCatalogação e Revisão TécnicaHenrique Barreiros AlvesLogotipoMarcos Antonio Esquef MacielDados de Catalogação na Publicação (CIPV567 Vértices / Instituto Federal de Educação, Ciência e Tecnologia Fluminense. -Vol.1, n. 1 (dez. 1997 - . - Campos dos Goytacazes (RJ: EssentiaEditora, 1997-QuadrimestralCentro Federal de Educação Tecnológica de Campos - CEFET Camposaté 2008. Instituto Federal de Educação, Ciência e Tecnologia -IF Fluminense a partir de jan.2009.ISSN 1415-2843 (versão impressaISSN 1809-2667 (versão eletrônica1. Educação - Periódicos. I. Instituto Federal de Educação, Ciênciae Tecnologia Fluminense.CDD - 370.5Revista Indexada em:Instituto Brasileiro em Ciência e Tecnologia/Sistema de Editoração Eletrônico de Revistas (IBICT/SEERSistema Regional de Información en Línea para Revistas Científicasde América Latina, el Caribe, Espanã y Portugal (LATINDEXDirectory Open Access Journals (DOAJRevista filiada à:Associação Brasileira de Editores CientíficosTiragem: 1000 exemplaresImpressão: Globalprint Editora Gráfica LTDA-ME. | Tel.: (31 3198-1100A revista Vértices é uma publicação científica do Instituto Federal de Educação, Ciência e Tecnologia Fluminense.Os artigos assinados são de responsabilidade exclusiva dos autores e não expressam, necessariamente, a opinião do Conselho Editorial.É permitida a reprodução total ou parcial dos artigos desta revista, desde que citada a fonte.

  9. Credits

    Directory of Open Access Journals (Sweden)

    . .

    2015-05-01

    Full Text Available Ministério da EducaçãoSecretaria de Educação Profissional e TecnológicaInstituto Federal de Educação, Ciência e Tecnologia FluminenseReitorLuiz Augusto Caldas PereiraPró-Reitor de EnsinoCarlos Márcio LimaPró-Reitor de Pesquisa e InovaçãoJosé Augusto Ferreira da SilvaPró-Reitora de ExtensãoPaula Aparecida Martins Borges BastosPró-Reitora de Desenvolvimento InstitucionalAna Lúcia CampinhoEditora-chefeKíssila da Conceição RibeiroConselho EditorialConselho ConsultivoDesiely Silva GusmãoEdinalda Maria Almeida da SilvaHelvia Pereira Pinto BastosInez Barcellos de AndradeJefferson Manhães de AzevedoKíssila da Conceição RibeiroLuiz de Pinedo Quinto JuniorMaria Amelia Ayd CorrêaMaria Inês Paes FerreiraPedro de Azevedo Castelo BrancoRegina Coeli Martins AquinoRogério Atem de CarvalhoRomeu e Silva NetoSaid Sérgio Martins AuattSalvador TavaresSergio VasconcelosSilvia Lúcia dos Santos BarretoSynthio Vieira de AlmeidaVania Cristina Alexandrino BernardoVicente de Paulo Santos OliveiraWander Gomes NeyAdalberto Cardoso (IESP/UERJAntonio Carlos Secchin (UFRJAntônio José da Silva Neto (IPRJ/UERJAsterio Kiyoshi Tanaka (UNIRIO e UFRJErica Maria Pellegrini Caramaschi (UFRJFernando Benedicto Mainier (UFFFernando Pruski (UFVFrancisco de Assis Esteves (UFRJGaudêncio Frigotto (UFFHamilton Jorge de Azevedo (UFRRJHelder Gomes Costa (UFFIná Elias de Castro (UFRJJader Lugon Junior (IFF/UERJ/SENAIJanete Bolite Frant (UNIBANJosé Abdallah Helayël-Neto (CBPF/MCTRodrigo Valente Serra (ANPRonaldo Pinheiro da Rocha Paranhos (UENFSérgio Arruda de Moura (UENFVera Lucia Marques da Silva (FBPNVirgínia Maria Gomes de Mattos Fontes (UFFEquipe EditorialRevisão de Língua PortuguesaEdson Carlos NascimentoDenise Rena HaddadRevisão de Língua InglesaHélvia Pereira Pinto BastosCapa, Projeto GráficoAndré da Silva CruzDiagramaçãoCláudia Marcia Alves FerreiraCatalogação e Revisão TécnicaHenrique Barreiros AlvesLogotipoMarcos Antonio Esquef MacielDados de Catalogação na Publicação (CIPV567 Vértices / Instituto Federal de Educação, Ciência e Tecnologia Fluminense. -Vol.1, n. 1 (dez. 1997 - . - Campos dos Goytacazes (RJ: EssentiaEditora, 1997-QuadrimestralCentro Federal de Educação Tecnológica de Campos - CEFET Camposaté 2008. Instituto Federal de Educação, Ciência e Tecnologia -IF Fluminense a partir de jan.2009.ISSN 1415-2843 (versão impressaISSN 1809-2667 (versão eletrônica1. Educação - Periódicos. I. Instituto Federal de Educação, Ciênciae Tecnologia Fluminense.CDD - 370.5Revista Indexada em:Instituto Brasileiro em Ciência e Tecnologia/Sistema de Editoração Eletrônico de Revistas (IBICT/SEERSistema Regional de Información en Línea para Revistas Científicasde América Latina, el Caribe, Espanã y Portugal (LATINDEXDirectory Open Access Journals (DOAJRevista filiada à:Associação Brasileira de Editores CientíficosTiragem: 1000 exemplaresImpressão: Globalprint Editora Gráfica LTDA-ME. | Tel.: (31 3198-1100A revista Vértices é uma publicação científica do Instituto Federal de Educação, Ciência e Tecnologia Fluminense.Os artigos assinados são de responsabilidade exclusiva dos autores e não expressam, necessariamente, a opinião do Conselho Editorial.É permitida a reprodução total ou parcial dos artigos desta revista, desde que citada a fonte.

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    Full Text Available Ministério da EducaçãoSecretaria de Educação Profissional e TecnológicaInstituto Federal de Educação, Ciência e Tecnologia Fluminense Reitora Cibele Daher Botelho Monteiro Pró-Reitora de Ensino Fabíola de Amério Ney Silva Pró-Reitor de Pesquisa e Inovação Hélio Gomes Filho Pró-Reitor de Extensão Eugênio Ferreira Naegele da Silva Pró-Reitor de Desenvolvimento Institucional Roberto Moraes Pessanha Editora-chefe Inez Barcellos de AndradeCoordenação Editorial do Boletim Maria Inês Paes Ferreira Conselho Editorial Conselho Consultivo Desiely Silva GusmãoEdinalda Almeida da SilvaHelvia Pereira Pinto BastosInez Barcellos de AndradeJefferson Manhães de AzevedoLuiz de Pinedo Quinto JuniorMaria Amelia Ayd CorrêaMaria Inês Paes FerreiraPedro de Azevedo Castelo BrancoRegina Coeli Martins AquinoRogério Atem de CarvalhoRomeu e Silva NetoSaid Sérgio Martins AuattSalvador TavaresSergio VasconcelosSilvia Lúcia dos Santos BarretoSynthio Vieira de AlmeidaVania Cristina Alexandrino BernardoVicente de Paulo Santos OliveiraWander Gomes Ney Adalberto Cardoso (IESP/UERJAntonio Carlos Secchin (UFRJAntônio José da Silva Neto (IPRJ/UERJAsterio Kiyoshi Tanaka (UNIRIO e UFRJErica Maria Pellegrini Caramaschi (UFRJFernando Benedicto Mainier (UFFFernando Pruski (UFVFrancisco de Assis Esteves (UFRJGaudêncio Frigotto (UFFHamilton Jorge de Azevedo (UFRRJHelder Gomes Costa (UFFIná Elias de Castro (UFRJJader Lugon Junior (IFF/UERJ/SENAIJanete Bolite Frant (UNIBANJosé Abdallah Helayël-Neto (CBPF/MCTMiriam Fontelle (UNIFLU e UNESARodrigo Valente Serra (ANPRonaldo Pinheiro da Rocha Paranhos (UENFSérgio Arruda de Moura (UENFVera Lucia Marques da Silva (FBPNVirgínia Maria Gomes de Mattos Fontes (UFF Apoio TécnicoCarlos David PascoDenia Cristina da Silva BarretoGisele Carvalho da Silva Costa Nogueira Bolsista de Iniciação CientíficaJáder da Mota SiqueiraJúlio Fontoura Gonçalves de LimaSamara Melo RodriguesWanessa Alves Duarte Revisão de Texto Edinalda Maria Almeida da SilvaVania Cristina Alexandrino Bernardo Projeto Gráfico André da Silva CruzEric Moreira Carvalho Diagramação Diego Melo Gomes CapaAndré da Silva Cruz Revisão Técnica Inez Barcellos de Andrade CopidesqueCláudia de Souza CaetanoCatalogação Inez Barcellos de Andrade Dados de Catalogação na Publicação (CIPB688 Boletim do Observatório Ambiental Alberto Ribeiro Lamego / InstitutoFederal de Educação, Ciência e Tecnologia Fluminense.Observatório Ambiental Alberto Ribeiro Lamego. - Vol. 1, no. 1(jan./jun. 2007 - .- Campos dos Goytacazes (RJ: Essentia Editora,2007- SemestralCentro Federal de Educação Tecnológica de Campos - CEFET Camposaté 2008. Instituto Federal de Educação, Ciência e Tecnologia - IF Fluminense apartir de 2009. ISSN versão impressa 1981-6197ISSN versão eletrônica 2177-4560 1. Engenharia ambiental. I. Instituto Federal de Educação, Ciência eTecnologia Fluminense. II. Observatório Ambiental Alberto Ribeiro Lamego. CDD - 628 Tiragem: 1000 exemplaresImpressão: Borzan Indústria Gráfica | Tel.: (22 3211-9274

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    2014-08-01

    Full Text Available Ministério da EducaçãoSecretaria de Educação Profissional e TecnológicaInstituto Federal de Educação, Ciência e Tecnologia Fluminense Reitor Luiz Augusto Caldas Pereira Pró-Reitor de Ensino Carlos Márcio Lima Pró-Reitor de Pesquisa e Inovação José Augusto Ferreira da Silva Pró-Reitora de Extensão Paula Aparecida Martins Borges Bastos Pró-Reitora de Desenvolvimento Institucional Ana Lúcia Campinho Coordenadora da Essentia Editora Kíssila da Conceição Ribeiro Conselho Editorial Conselho Consultivo Desiely Silva GusmãoEdinalda Almeida da SilvaHelvia Pereira Pinto BastosInez Barcellos de AndradeJefferson Manhães de AzevedoLuiz de Pinedo Quinto JuniorMaria Amelia Ayd CorrêaMaria Inês Paes FerreiraPedro de Azevedo Castelo BrancoRegina Coeli Martins AquinoRogério Atem de CarvalhoRomeu e Silva NetoSaid Sérgio Martins AuattSalvador TavaresSergio VasconcelosSilvia Lúcia dos Santos BarretoSynthio Vieira de AlmeidaVania Cristina Alexandrino BernardoVicente de Paulo Santos OliveiraWander Gomes Ney Adalberto Cardoso (IESP/UERJAntonio Carlos Secchin (UFRJAntônio José da Silva Neto (IPRJ/UERJAsterio Kiyoshi Tanaka (UNIRIO e UFRJErica Maria Pellegrini Caramaschi (UFRJFernando Benedicto Mainier (UFFFernando Pruski (UFVFrancisco de Assis Esteves (UFRJGaudêncio Frigotto (UFFHamilton Jorge de Azevedo (UFRRJHelder Gomes Costa (UFFIná Elias de Castro (UFRJJader Lugon Junior (IFF/UERJ/SENAIJanete Bolite Frant (UNIBANJosé Abdallah Helayël-Neto (CBPF/MCTRodrigo Valente Serra (ANPRonaldo Pinheiro da Rocha Paranhos (UENFSérgio Arruda de Moura (UENFVera Lucia Marques da Silva (FBPNVirgínia Maria Gomes de Mattos Fontes (UFF Equipe Editorial Revisão de Língua Portuguesa Edson Carlos NascimentoIsabela Bastos de CarvalhoKíssila Ferreira de SouzaPriscila Matos MonkenRosângela Caldas Revisão de Língua Inglesa Hélvia Pereira Pinto Bastos Capa, Projeto Gráfico André da Silva Cruz Diagramação Cláudia Marcia Alves FerreiraMariana de Almeida Reis Revisão Técnica e Catalogação Inez Barcellos de Andrade Logotipo Marcos Antonio Esquef Maciel Dados de Catalogação na Publicação (CIP V567 Vértices / Instituto Federal de Educação, Ciência e Tecnologia Fluminense. -Vol.1, n. 1 (dez. 1997 - . - Campos dos Goytacazes (RJ: EssentiaEditora, 1997- QuadrimestralCentro Federal de Educação Tecnológica de Campos - CEFET Camposaté 2008. Instituto Federal de Educação, Ciência e Tecnologia -IF Fluminense a partir de jan.2009. ISSN 1415-2843 (versão impressaISSN 1809-2667 (versão eletrônica 1. Educação - Periódicos. I. Instituto Federal de Educação, Ciênciae Tecnologia Fluminense. CDD - 370.5 Revista Indexada em: Instituto Brasileiro em Ciência e Tecnologia/Sistema de Editoração Eletrônico de Revistas (IBICT/SEER Sistema Regional de Información en Línea para Revistas Científicasde América Latina, el Caribe, Espanã y Portugal (LATINDEX Directory Open Access Journals (DOAJ Revista filiada à: Associação Brasileira de Editores Científicos Tiragem: 1000 exemplaresImpressão: Impressoart Editora Gráfica Ltda. | Tel.: (41 3348-2728 A revista Vértices é uma publicação científica do Instituto Federal de Educação, Ciência e Tecnologia Fluminense. Os artigos assinados são de responsabilidade exclusiva dos autores e não expressam, necessariamente, a opinião do Conselho Editorial. É permitida a reprodução total ou parcial dos artigos desta revista, desde que citada a fonte.

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    2010-05-01

    Full Text Available Diretora Geral Cibele Daher Botelho Monteiro Vice-Diretora Geral Jefferson Manhães de Azevedo Coordenadora de Pós-Graduação Vera Raimunda Amério Asseff Coordenador de Pesquisa Rogério Atem de Carvalho Editora-Chefe Maria Amelia Ayd Correa Coordenação Editorial do Boletim Maria Inês Paes Ferreira Conselho Editorial Dalila Silva MelloMarcos Antonio Cruz MoreiraRoberta de Sousa RamalhoVicente de Paulo Santos de Oliveira Organizadores deste número Maria Inês Paes FerreiraMariana Rodrigues de Carvalhaes PinheiroTathiana Chaves de Souza Apoio Técnico Gisele Carvalho da Silva Costa NogueiraCarlos David Pasco Bolsistas de Iniciação Científica Felipe Eliakim SilvaSamara Melo Rodrigues Revisão de Texto Edinalda Maria Almeida da Silva Projeto Gráfico André da Silva CruzDaniel Marques Sardinha Diagramação Daniel Marques Sardinha Capa Daniel Marques Sardinha Revisão Técnica Flávia Gomes de Abreu SiqueiraVanessa Vasconcelos Lopes Assistente de Editoração Cláudia de Souza Caetano Catalogação Antonio Soares das Chagas Filho Dados de Catalogação na Publicação (CIP Boletim do Observatório Ambiental Alberto Ribeiro Lamego. - Vol. 2, n. 1 (jan./jun. 2008. Centro Federal de Educação Tecnológicade Campos. Observatório Ambiental Alberto Ribeiro Lamego.Campos dos Goytacazes, RJ: Essentia Editora, 2008 - v. : il. 14 cm. SemestralISSN 1981-6197 1. Engenharia ambiental. I. Centro Federal de Educação Tecnológicade Campos. II. Observatório Ambiental Alberto Ribeiro Lamego. CDD - 628 Tiragem: 1000 exemplaresImpressão: Gráfica e Editora GSA | Tel.: (27 3232-1266

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    Full Text Available Ministério da EducaçãoSecretaria de Educação Profissional e TecnológicaInstituto Federal de Educação, Ciência e Tecnologia Fluminense Reitor Luiz Augusto Caldas Pereira Pró-Reitor de Ensino Carlos Márcio Lima Pró-Reitor de Pesquisa e Inovação José Augusto Ferreira da Silva Pró-Reitora de Extensão Paula Aparecida Martins Borges BastosEditora-Chefe Inez Barcellos de Andrade Coordenação Editorial do Boletim Maria Inês Paes Ferreira Conselho Editorial Conselho Consultivo Edinalda Almeida da SilvaHelvia Pereira Pinto BastosJefferson Manhães de AzevedoLuiz de Pinedo Quinto JuniorMaria Amelia Ayd CorrêaMaria Inês Paes FerreiraPedro de Azevedo Castelo BrancoRegina Coeli Martins AquinoRogério Atem de CarvalhoRomeu e Silva NetoSaid Sérgio Martins AuattSalvador TavaresSergio VasconcelosSilvia Lúcia dos Santos BarretoSynthio Vieira de AlmeidaVania Cristina Alexandrino BernardoVicente de Paulo Santos OliveiraWander Gomes Ney Adalberto Cardoso (IESP/UERJAntonio Carlos Secchin (UFRJAntônio José da Silva Neto (IPRJ/UERJAsterio Kiyoshi Tanaka (UNIRIO e UFRJErica Maria Pellegrini Caramaschi (UFRJFernando Benedicto Mainier (UFFFernando Pruski (UFVFrancisco de Assis Esteves (UFRJGaudêncio Frigotto (UFFHamilton Jorge de Azevedo (UFRRJHelder Gomes Costa (UFFIná Elias de Castro (UFRJJader Lugon Junior (IFF/UERJ/SENAIJanete Bolite Frant (UNIBANJosé Abdallah Helayël-Neto (CBPF/MCTMiriam Fontelle (UNIFLU e UNESARodrigo Valente Serra (ANPRonaldo Pinheiro da Rocha Paranhos (UENFSérgio Arruda de Moura (UENFVera Lucia Marques da Silva (FBPNVirgínia Maria Gomes de Mattos Fontes (UFF Organizadores deste númeroMaria Inês Paes FerreiraJader Lugon JuniorLuiz de Pinedo Quinto JúniorLuiz Felipe Umbelino dos SantosBolsista de Iniciação CientíficaCamilla Cardoso da Costa Revisão de Língua Portuguesa e Inglesa Edson Carlos Nascimento Projeto Gráfico André da Silva CruzEric Moreira Carvalho Diagramação Cláudia Marcia Alves FerreiraDiego Melo Gomes CapaAndré da Silva Cruz Revisão Técnica e Catalogação Inez Barcellos de Andrade CopidesqueEdson Carlos NascimentoDados de Catalogação na Publicação (CIP B688      Boletim do Observatório Ambiental Alberto Ribeiro Lamego / InstitutoFederal de Educação, Ciência e Tecnologia Fluminense.Observatório Ambiental Alberto Ribeiro Lamego. - Vol. 1, no. 1(jan./jun. 2011 - .- Campos dos Goytacazes (RJ: Essentia Editora,2011- SemestralCentro Federal de Educação Tecnológica de Campos - CEFET Camposaté 2008. Instituto Federal de Educação, Ciência e Tecnologia - IF Fluminense apartir de 2009. ISSN versão impressa 1981-6197ISSN versão eletrônica 2177-4560 1. Engenharia ambiental. I. Instituto Federal de Educação, Ciência eTecnologia Fluminense. II. Observatório Ambiental Alberto Ribeiro Lamego. CDD - 628 Tiragem: 1000 exemplaresImpressão: Meneghitti's Gráfica e Editora Ltda. | Tel.: (21 2136-6999

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    Full Text Available Diretora Geral Cibele Daher Botelho Monteiro Vice-Diretora Geral Jefferson Manhães de Azevedo Coordenadora de Pós-Graduação Vera Raimunda Amério Asseff Coordenador de Pesquisa Rogério Atem de Carvalho Editora-Chefe Maria Amelia Ayd Correa Coordenação Editorial do Boletim Maria Inês Paes Ferreira Conselho Editorial Dalila Silva MelloMarcos Antonio Cruz MoreiraRoberta de Sousa RamalhoVicente de Paulo Santos de Oliveira Organizadores deste número Maria Inês Paes FerreiraMariana Rodrigues de Carvalhaes PinheiroTathiana Chaves de Souza Apoio Técnico Gisele Carvalho da Silva Costa NogueiraCarlos David Pasco Bolsistas de Iniciação Científica Felipe Eliakim SilvaSamara Melo Rodrigues Revisão de Texto Edinalda Maria Almeida da Silva Projeto Gráfico André da Silva CruzDaniel Marques Sardinha Diagramação Daniel Marques Sardinha Capa Daniel Marques SardinhaDiego Tavares Ventapane Lopes Revisão Técnica Flávia Gomes de Abreu SiqueiraVanessa Vasconcelos Lopes Assistente de Editoração Cláudia de Souza Caetano Catalogação Antonio Soares das Chagas Filho Dados de Catalogação na Publicação (CIP Boletim do Observatório Ambiental Alberto Ribeiro Lamego. - Vol. 1, n. 2 (jul./dez. 2007. Centro Federal de Educação Tecnológicade Campos. Observatório Ambiental Alberto Ribeiro Lamego.Campos dos Goytacazes, RJ: Essentia Editora, 2007 - v. : il. 14 cm. SemestralISSN 1981-6197 1. Engenharia ambiental. I. Centro Federal de Educação Tecnológicade Campos. II. Observatório Ambiental Alberto Ribeiro Lamego. CDD - 628 Tiragem: 1000 exemplaresImpressão: GSA Gráfica e Editora | Tel.: (27 3232-1266

  15. 75 FR 64785 - Corporate Credit Unions

    Science.gov (United States)

    2010-10-20

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

  16. 76 FR 24089 - Credit Risk Retention

    Science.gov (United States)

    2011-04-29

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

  17. 76 FR 34010 - Credit Risk Retention

    Science.gov (United States)

    2011-06-10

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

  18. Rare disasters, credit, and option market puzzles

    DEFF Research Database (Denmark)

    Christoffersen, Peter; Du, Du; Elkamhi, Redouane

    2017-01-01

    calibrated to the real economy can simultaneously explain several key empirical regularities in equity, credit, and options markets. Our model captures the empirical level and volatility of credit spreads, generates a flexible credit risk term structure, and provides a good fit to a century of observed...

  19. Rare Disasters and Credit Market Puzzles

    DEFF Research Database (Denmark)

    Christoffersen, Peter; Du, Du; Elkamhi, Redouane

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

  20. 76 FR 54991 - Corporate Credit Unions

    Science.gov (United States)

    2011-09-06

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

  1. Consumer Credit: Evidence from Italian Micro Data

    NARCIS (Netherlands)

    Hochguertel, S.; Alessie, R.; Weber, G.

    2005-01-01

    In this paper we analyse unique data on credit applications received by the leading provider of consumer credit in Italy (Findomestic). The data set covers a five-year period (1995-1999) during which the consumer credit market rapidly expanded in Italy and a new law (the usury law) came into force

  2. CREDIT RATIONING AND SME DEVELOPMENT IN BOTSWANA ...

    African Journals Online (AJOL)

    None

    have the negative effect of stifling the growth of potential firms, thereby .... credit market may explain the credit rationing behaviour of banks to ... derive policy implications to enhance access to bank credit by SMEs. 4. ..... The main challenges to SMEs identified by the study were non-payment of outstanding ... This decision is.

  3. 24 CFR 206.37 - Credit standing.

    Science.gov (United States)

    2010-04-01

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

  4. Credit in Acceptance Sampling on Attributes

    NARCIS (Netherlands)

    Klaassen, Chris A.J.

    2000-01-01

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

  5. 27 CFR 46.223 - Tax credit.

    Science.gov (United States)

    2010-04-01

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

  6. 48 CFR 2132.607 - Tax credit.

    Science.gov (United States)

    2010-10-01

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

  7. 48 CFR 1632.607 - Tax credit.

    Science.gov (United States)

    2010-10-01

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

  8. 40 CFR 91.1307 - Credit calculation.

    Science.gov (United States)

    2010-07-01

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

  9. 78 FR 25101 - Credit Ratings Roundtable

    Science.gov (United States)

    2013-04-29

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

  10. Rivera Cusicanqui Silvia, Ch’ixinakax utxiwa : una reflexión sobre prácticas y discursos descolonizadores, Buenos Aires, Retazos-Tinta Limón, 2010, 80 p.

    OpenAIRE

    Cruz Rodríguez, Edwin

    2013-01-01

    Silvia Rivera Cusicanqui (La Paz, 1949) es una intelectual aymara, reconocida por sus trabajos sobre los movimientos indígenas en Bolivia y su liderazgo del Taller de Historia Oral Andina, así como por su pensamiento descolonizador. En este libro nos ofrece una perspectiva de análisis histórico que denomina “sociología de la imagen” y propone estudiar aquellas memorias y culturas visuales veladas por los lenguajes de la dominación, particularmente colonial. Así mismo, plantea la categoría de ...

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

    Science.gov (United States)

    Prasuhn, Frederick Carl

    2014-01-01

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

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

    Science.gov (United States)

    McCall, Michael; Eckrich, Donald W

    2006-06-01

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

  13. A Network Model of Credit Risk Contagion

    Directory of Open Access Journals (Sweden)

    Ting-Qiang Chen

    2012-01-01

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

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

    OpenAIRE

    Tang, Sai; Guan, Zhengfei; Jin, Songqing

    2010-01-01

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

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

    OpenAIRE

    Jézabel Couppey-Soubeyran; Jérôme Héricourt

    2013-01-01

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

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

    OpenAIRE

    Špicas, Renatas

    2017-01-01

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

  17. Non-conventional fuel tax credit

    International Nuclear Information System (INIS)

    Soeoet, P.M.

    1988-01-01

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

  18. Private Sector Credit and Inflation Volatility

    Directory of Open Access Journals (Sweden)

    Lorna Katusiime

    2018-04-01

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

  19. 49 CFR 536.8 - Conditions for trading of credits.

    Science.gov (United States)

    2010-10-01

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

  20. 12 CFR 619.9140 - Farm Credit bank(s).

    Science.gov (United States)

    2010-01-01

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

  1. 17 CFR 256.255 - Accumulated deferred investment tax credits.

    Science.gov (United States)

    2010-04-01

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

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

    Directory of Open Access Journals (Sweden)

    Daiva Jurevičienė

    2013-11-01

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

  3. 75 FR 17976 - WNC Tax Credits 38, LLC, WNC Tax Credits 39, LLC, WNC Housing Tax Credits Manager, LLC and WNC...

    Science.gov (United States)

    2010-04-08

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

  4. Monetary policy and credit conditions: new evidence.

    OpenAIRE

    Steven Ongena

    1995-01-01

    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...

  5. Corporate financing and anticipated credit rating changes

    OpenAIRE

    Hung, Chi-Hsiou D.; Banerjee, Anurag; Meng, Qingrui

    2017-01-01

    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...

  6. Credit Risk Management in Chinese Banking Industry

    OpenAIRE

    Zhang, Lei

    2006-01-01

    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...

  7. Development of Consumer Credit Laws in Malaysia

    OpenAIRE

    Rahman, Ahmad Saufi Abdul

    2007-01-01

    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.

  8. Credit Constraints, Political Instability, and Capital Accumulation

    OpenAIRE

    Risto Herrala; Rima Turk-Ariss

    2013-01-01

    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...

  9. Multiple Layers of Credit and Mortgage Crises

    OpenAIRE

    Paula Hernandez-Verme

    2011-01-01

    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...

  10. Burnup credit activities in the United States

    International Nuclear Information System (INIS)

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

    2001-01-01

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

  11. science

    International Development Research Centre (IDRC) Digital Library (Canada)

    David Spurgeon

    Give us the tools: science and technology for development. Ottawa, ...... altered technical rela- tionships among the factors used in the process of production, and the en- .... to ourselves only the rights of audit and periodic substantive review." If a ...... and destroying scarce water reserves, recreational areas and a generally.

  12. THE COOPERATIVE CREDIT MUTUAL IN BRAZIL.

    Directory of Open Access Journals (Sweden)

    Laércio Baptista da Silva

    2013-06-01

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

  13. An endogenous model of the credit network

    Science.gov (United States)

    He, Jianmin; Sui, Xin; Li, Shouwei

    2016-01-01

    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.

  14. Phenomena and parameters important to burnup credit

    International Nuclear Information System (INIS)

    Parks, C.V.; Dehart, M.D.; Wagner, J.C.

    2001-01-01

    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)

  15. Information Asymmetry and Credit Risk

    Directory of Open Access Journals (Sweden)

    Lorena TUPANGIU

    2017-11-01

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

  16. FACTORING- CREDIT OPPORTUNITIES IN ROMANIA

    Directory of Open Access Journals (Sweden)

    ADELA IONESCU

    2013-05-01

    Full Text Available Capital is the main factor of production, business development becomes virtually impossible without taking into account the financial market and the resources it provides to businesses. Any business, regardless of its degree of development, is involving direct contact with financial markets, namely the institutions that mediate mobilization of capital and the services they provide. Understanding the functioning of the financial system, the specific financial mechanisms through which savings are allocated to support capital investments and the costs and risks involved is essential for the development of a solid base for business. In this context, factoring operations can support economic agents, allowing a transfer of commercial receivables from their holder to a factor who commits to their recovery and guarantee such operations even if temporary or permanent insolvency of the debtor . Thus, factoring is a complex technique in at least two aspects, of the debt and the transfer of credit. . Factoring is a means of financing business, especially export-import transactions, less known in Romania. Maybe because of poor business environment popularize the term is as little known as it was a few years ago the leasing. Present in Romanian legislation since 2002, factoring appears as a contract between one party (called adherent, providing goods or service and a banking company or a financial institution specialized (called factor, which the last one shall finance debts pursuing and preservation against credit risks and adherent gives factor by way of sale, debts arising from the sale of goods or services to third parties. The article is divided into three parts. In the first part we defined the concept of factoring and international factoring, then I presented the advantages and development of factoring in Romania, and the last part conclusions.

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

    OpenAIRE

    MACHIN, Richard

    2017-01-01

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

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

    Directory of Open Access Journals (Sweden)

    Ljubić Marijana

    2015-01-01

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

  19. WHAT INFLUENCE CREDIT CARD DEBTS IN YOUNG CONSUMERS IN MALAYSIA

    OpenAIRE

    Syed Shah ALAM; Ruzita Abdul RAHIM; Ridhwanul HAQ; Atiqur Rahman KHAN

    2014-01-01

    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 ...

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

    Science.gov (United States)

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

    2010-01-01

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

  1. 12 CFR 615.5172 - Production credit association and agricultural credit association investment in farmers' notes...

    Science.gov (United States)

    2010-01-01

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

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

    NARCIS (Netherlands)

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

    2011-01-01

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

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

    Science.gov (United States)

    Pathak, Arohi; Keenan, Nancy

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

  4. Eduación para la ciudadanía autoritaria. La nacionalización de los jóvenes en la dictadura de Primo de Rivera

    Directory of Open Access Journals (Sweden)

    Alejandro, QUIROGA FERNÁNDEZ DE SOTO

    2009-10-01

    Full Text Available RESUMEN: el artículo analiza las reformas llevadas a cabo por la Dictadura de Primo de Rivera en la enseñanza secundaria y superior, con el fin de inculcar una serie de principios nacionalistas españoles a los jóvenes. En un primer apartado se discute el concepto primorriverista de ciudadanía autoritaria con el que se intentó adoctrinar a la población. La segunda sección explora la reforma de la enseñanza secundaria, la implantación del polémico «texto único» y sus efectos políticos. La última parte del artículo está dedicada a la reforma primorriverista de la educación superior y la rebelión universitaria que siguió a la aprobación de la llamada «Ley Callejo». Frente a la historiografía más tradicional, el artículo muestra cómo la política educativa primorriverista llevó a un conflicto muy serio entre la Dictadura y la Iglesia católica. Este conflicto tendría consecuencias catastróficas para el régimen, ya que supuso la retirada del apoyo de los católicos sociales a la Dictadura y con esto la pérdida de un apoyo social fundamental para ésta.ABSTRACT: This article analyses the Primo de Rivera Dictatorship’s reforms of secondary and university education. The changes aimed at inculcating a series of Spanish nationalist principles among the youngsters. The first part of the article discusses the concept of ‘authoritarian citizenship’ that was used by the regime to indoctrinate pupils. A second section explores the reforms at secondary education level. It focuses on the creation of a single state-approved text book for each course of study and its political impact. The last part deals with the primorriverista reform of the university system, the so-called Ley Callejo, and the revolt it unleashed. Contrary to the thesis of traditional historiography, this paper argues that the regime’s education policies led to a severe clash with the Catholic Church. This conflict over education had catastrophic

  5. Adam Smith, Religion, and Tuition Tax Credits.

    Science.gov (United States)

    Alexander, Kern

    1983-01-01

    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)

  6. College Student Performance and Credit Card Usage.

    Science.gov (United States)

    Pinto, Mary Beth; Parente, Diane H.; Palmer, Todd Starr

    2001-01-01

    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…

  7. Dynamic Dependence and Diversification in Corporate Credit

    DEFF Research Database (Denmark)

    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...

  8. 76 FR 41590 - Equal Credit Opportunity

    Science.gov (United States)

    2011-07-15

    ... 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...

  9. 76 FR 13896 - Equal Credit Opportunity

    Science.gov (United States)

    2011-03-15

    ... 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...

  10. Overcoming credit card fraud in South Africa

    African Journals Online (AJOL)

    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.

  11. Are Credit Shocks Supply or Demand Shocks?

    OpenAIRE

    Bijapur, Mohan

    2013-01-01

    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.

  12. Potentials in Asian Export Credit Cooperation

    Institute of Scientific and Technical Information of China (English)

    2004-01-01

    "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,

  13. Tiebreaker: Certification and Multiple Credit Ratings

    NARCIS (Netherlands)

    D.G.J. Bongaerts (Dion); K.J.M. Cremers (Martijn); W.N. Goetzmann (William)

    2008-01-01

    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

  14. Tiebreaker: Certification and multiple credit ratings

    NARCIS (Netherlands)

    Bongaerts, D.; Cremers, K.J.M.; Goetzmann, W.

    2009-01-01

    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

  15. Trade credit, collateral liquidation, and borrowing constraints

    NARCIS (Netherlands)

    Fabbri, D.; Menichini, A.M.C.

    2010-01-01

    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

  16. 75 FR 49510 - Credit Watch Termination Initiative

    Science.gov (United States)

    2010-08-13

    ... 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...

  17. 75 FR 17944 - Credit Watch Termination Initiative

    Science.gov (United States)

    2010-04-08

    ... 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...

  18. MBS Ratings and the Mortgage Credit Boom

    NARCIS (Netherlands)

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

    2010-01-01

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

  19. The Credit Hour and Public Budgeting.

    Science.gov (United States)

    Wellman, Jane V.

    2003-01-01

    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)

  20. Forecasting the value of credit scoring

    Science.gov (United States)

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

    2017-08-01

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

  1. CONTINGENCIES FOR MEASUREMENT OF THE CREDIT RISK

    Directory of Open Access Journals (Sweden)

    Marinela BARBULESCU

    2015-12-01

    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.

  2. Credit Ratings and Bank Monitoring Ability

    NARCIS (Netherlands)

    Nakamura, L.I.; Roszbach, K.

    2010-01-01

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

  3. Facilitating SME Financing through Improved Credit Reporting

    OpenAIRE

    International Committee on Credit Reporting

    2014-01-01

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

  4. Credit Risk Evaluation : Modeling - Analysis - Management

    OpenAIRE

    Wehrspohn, Uwe

    2002-01-01

    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...

  5. Sovereign Credit Risk, Liquidity and ECB Intervention

    DEFF Research Database (Denmark)

    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...

  6. Models for assessing and managing credit risk

    Directory of Open Access Journals (Sweden)

    Neogradi Slađana

    2014-01-01

    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.

  7. Credit scoring analysis using kernel discriminant

    Science.gov (United States)

    Widiharih, T.; Mukid, M. A.; Mustafid

    2018-05-01

    Credit scoring model is an important tool for reducing the risk of wrong decisions when granting credit facilities to applicants. This paper investigate the performance of kernel discriminant model in assessing customer credit risk. Kernel discriminant analysis is a non- parametric method which means that it does not require any assumptions about the probability distribution of the input. The main ingredient is a kernel that allows an efficient computation of Fisher discriminant. We use several kernel such as normal, epanechnikov, biweight, and triweight. The models accuracy was compared each other using data from a financial institution in Indonesia. The results show that kernel discriminant can be an alternative method that can be used to determine who is eligible for a credit loan. In the data we use, it shows that a normal kernel is relevant to be selected for credit scoring using kernel discriminant model. Sensitivity and specificity reach to 0.5556 and 0.5488 respectively.

  8. Issues for effective implementation of burnup credit

    International Nuclear Information System (INIS)

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

    2001-01-01

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

  9. Tight gas sand tax credit yields opportunities

    International Nuclear Information System (INIS)

    Lewis, F.W.; Osburn, A.S.

    1991-01-01

    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

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

    Directory of Open Access Journals (Sweden)

    Francesco Dainelli

    2013-03-01

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

  11. 12 CFR 226.12 - Special credit card provisions.

    Science.gov (United States)

    2010-01-01

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

  12. 12 CFR 614.4720 - Letters of credit.

    Science.gov (United States)

    2010-01-01

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

  13. 12 CFR 619.9145 - Farm Credit Bank.

    Science.gov (United States)

    2010-01-01

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

  14. 12 CFR 704.6 - Credit risk management.

    Science.gov (United States)

    2010-01-01

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

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

    Directory of Open Access Journals (Sweden)

    Nguyen Anh Hoang

    2014-10-01

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

  16. La construcción del personaje lésbico en los relatos cubanos de Sonia Rivera-Valdés y Jacqueline Herranz-Brooks: de la “abyección” a la subversión

    Directory of Open Access Journals (Sweden)

    Sophie Cabaloue

    2013-06-01

    Full Text Available En este ensayo se analizan las obras de dos autoras cubanas de la diáspora, Sonia Rivera-Valdés y Jacqueline Herranz-Brooks, enfocando especialmente la temática lesbiana de estas narraciones, con especial atención a la forma como nos revelan la situación de las lesbianas en Cuba, sobre todo en el “Periodo especial”, a la vez que se convierte en un modo de subvertir la heterosexualidad obligatoria. De este modo se indaga sobre cómo en sus relatos se construye el sujeto “abyecto” (el personaje lésbico en oposición al sistema heteronormativo y cómo este sujeto pasa de la “abyección” a la subversión, al desafiar la heterosexualidad obligatoria.

  17. Francia en el horizonte. La política de aproximación italiana a la España de Primo de Rivera a través del campo cultura

    Directory of Open Access Journals (Sweden)

    Rubén Domínguez Méndez

    2013-12-01

    Full Text Available La influencia del fascismo italiano fue fundamental en la conformación de la dictadura antiliberal y autoritaria de Primo de Rivera. Del mismo modo, las relaciones entre los dos dicta-dores fueron intensas y tuvieron como incentivo la posibilidad de modificar la política exterior de Francia ante el peligro de constituir una alianza anti-francesa entre los dos países. Culturalmente el fascismo trató de imponer su ascendencia ideológica sobre la dictadura para contrarrestar, de algún modo, la acción cultural de otras na-ciones a pesar de los recursos limitados para este fin.

  18. Eduación para la ciudadanía autoritaria. La nacionalización de los jóvenes en la dictadura de Primo de Rivera

    OpenAIRE

    Alejandro, QUIROGA FERNÁNDEZ DE SOTO

    2009-01-01

    RESUMEN: el artículo analiza las reformas llevadas a cabo por la Dictadura de Primo de Rivera en la enseñanza secundaria y superior, con el fin de inculcar una serie de principios nacionalistas españoles a los jóvenes. En un primer apartado se discute el concepto primorriverista de ciudadanía autoritaria con el que se intentó adoctrinar a la población. La segunda sección explora la reforma de la enseñanza secundaria, la implantación del polémico «texto único» y sus efectos políticos. La últim...

  19. Credit risk assessment: Evidence from banking industry

    Directory of Open Access Journals (Sweden)

    Hassan Ghodrati

    2014-08-01

    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.

  20. Acquired Credit Unions: Drivers of Takeover

    Directory of Open Access Journals (Sweden)

    R. Raymond Sant

    2015-08-01

    Full Text Available In this paper we study acquired credit unions and analyze their financial performance up to six years prior to merger, on a quarterly basis. The primary focus is on balance sheet (asset liability management and profitability variables (return on assets. We find that acquired credit unions during the period 2008 (third quarter to 2014 (first quarter experienced negative return on assets for several quarters prior to their takeover. This was the result of a declining loan portfolio and increasing charge offs. In spite of decreasing lending activity, such credit unions continued to increase their deposits, i.e., adding to their cost base. Due to declining loans, their net interest margin as a proportion of deposits was also in decline. We argue that this is an indicator of poor management ability. Furthermore, our analysis finds that operating expenses were increasing over time, something that has been documented in previous literature also for smaller credit unions and is attributable to lack of economies of scale. The average asset size of the acquired credit unions in our sample is about $22 million just before acquisition. We attribute our findings to poor business strategy followed by such credit unions. We also conclude that signs of trouble are evident up to two years before merger on average and regulatory policy may have to become more proactive to manage the consolidation challenge faced by the credit union industry in general.

  1. Value of burnup credit beyond actinides

    International Nuclear Information System (INIS)

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

    1997-01-01

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

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

    Science.gov (United States)

    2011-07-12

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

  3. Credit Spreads Across the Business Cycle

    DEFF Research Database (Denmark)

    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...

  4. A dynamic model of unsecured credit

    OpenAIRE

    Daniel R. Sanches

    2010-01-01

    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...

  5. 5 CFR 610.408 - Use of credit hours.

    Science.gov (United States)

    2010-01-01

    ... 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...

  6. monetary policies and credit financing as factors in agricultural ...

    African Journals Online (AJOL)

    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.

  7. Resonance journal of science education

    Indian Academy of Sciences (India)

    IAS Admin

    (Credit: M S Pavan, IISc). Adolf von Baeyer. (1835–1917). (Illustration: Subhankar Biswas). Front Cover. Science Smiles. Ayan Guha. 488. Back Cover. Inside Back Cover. Flowering Trees. Credit: R Arun Singh, IISc. 483. REFLECTIONS. 570 Ramanujan's Circle. Inspirors, Patrons and Mentors. Utpal Mukhopadhyay. 489.

  8. Prefrontal system dysfunction and credit card debt.

    Science.gov (United States)

    Spinella, Marcello; Yang, Bijou; Lester, David

    2004-10-01

    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.

  9. College Student Credit Card Usage and Debt.

    Science.gov (United States)

    Rybka, Kathryn M.

    2001-01-01

    Provides an overview of the concerns related to credit card usage by college students. Offers information student affairs professionals can use to help college students make responsible choices. (Contains 26 references.) (GCP)

  10. Securitization, Credit Rating and Issuers’ Characteristics

    Directory of Open Access Journals (Sweden)

    Mauricio Palmada Fernandes

    2014-01-01

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

  11. College credit for in-house training

    International Nuclear Information System (INIS)

    Reilly, K.; Getty, C.; Knief, R.

    1981-01-01

    The Program on Non-Collegiate Sponsored Instruction (PONSI) and similar organizations may be of considerable help to the industry to the extent that college credit can be awarded for certain activities in reactor site training programs. The credit recommendations generally may be used at local colleges. They also may be applied (along with credit for college-level activities such as correspondence and on-campus courses, proficiency testing, and other evaluations) to degrees granted by the Regent's External Degree Program (REX) and other organizations. This paper describes the principle features of the PONSI and REX programs. PONSI's first credit evaluation at a nuclear plant - Consolidated Edison's Indian Point 2 - is summarized. Recent proposals for an explicit nuclear degree through REX are also described briefly

  12. Credit risk management in the power sector

    International Nuclear Information System (INIS)

    Allen, D.

    2002-01-01

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

  13. The market for tradable renewable energy credits

    International Nuclear Information System (INIS)

    Berry, David

    2002-01-01

    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

  14. New Market Tax Credit Qualified Census Tract

    Data.gov (United States)

    Vermont Center for Geographic Information — The Community Development Financial Institutions (CDFI) Fund, a division of the US Department of the Treasury, administers the New Markets Tax Credit (NMTC). The...

  15. Emission credits : what are they worth?

    International Nuclear Information System (INIS)

    Wilman, E.A.

    2003-01-01

    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

  16. Status of burnup credit implementation in Switzerland

    International Nuclear Information System (INIS)

    Grimm, P.

    1998-01-01

    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)

  17. The public control of credit unions

    Directory of Open Access Journals (Sweden)

    Alberto García Müller

    2006-12-01

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

  18. Managing sovereign credit risk in bond portfolios

    OpenAIRE

    Bruder, Benjamin; Hereil, Pierre; Roncalli, Thierry

    2011-01-01

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

  19. The determinants of credit rating: brazilian evidence

    OpenAIRE

    MurciaI,Flávia Cruz de Souza; Dal-Ri Murcia,Fernando; Rover,Suliani; Borba,José Alonso

    2014-01-01

    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 Equa...

  20. Credit Default Swap Valuation with Counterparty Risk

    OpenAIRE

    Leung, Seng Yuen; Kwok, Yue Kuen

    2005-01-01

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

  1. The Alchemy of CDO Credit Ratings

    OpenAIRE

    Efraim Benmelech; Jennifer Dlugosz

    2009-01-01

    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...

  2. Credit Card Selection Criteria: Singapore Perspective

    OpenAIRE

    Lydia L. Gan; Ramin Cooper Maysami

    2006-01-01

    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...

  3. COMPENSATORY INTEREST SETTLEMENT AND CREDIT BANKING MORATORIUM

    OpenAIRE

    Avelino Sánchez, Esteban Marino

    2014-01-01

    First is explained the reasons for this article, it mentions the specific legal rules that support the settlement of interest on the credit operations of companies in the financial system with end users, and then presents the average interest rates of some operations credit. Then we present the formula for calculating interest, and illustrates its application with examples 1 and 2 (the simplest). The following is, in examples 3 and 4, the calculation of interest with imputation of partial pay...

  4. Counterparty Credit Risk on the Blockchain

    OpenAIRE

    Starlander, Isak

    2017-01-01

    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...

  5. Health insurance premium tax credit. Final regulations.

    Science.gov (United States)

    2013-02-01

    This document contains final regulations relating to the health insurance premium tax credit enacted by the Patient Protection and Affordable Care Act and the Health Care and Education Reconciliation Act of 2010.These final regulations provide guidance to individuals related to employees who may enroll in eligible employer-sponsored coverage and who wish to enroll in qualified health plans through Affordable Insurance Exchanges (Exchanges) and claim the premium tax credit.

  6. Grant credit lines for energy efficiency

    International Nuclear Information System (INIS)

    Gramatikov, P.; Iliev, I.

    2010-01-01

    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)

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

    Science.gov (United States)

    Dorn, Stan; Varon, Janet; Pervez, Fouad

    2005-10-01

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

  8. Mammography screening credit card and compliance.

    Science.gov (United States)

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

    1992-07-15

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

  9. Modeling Cycle Dependence in Credit Insurance

    Directory of Open Access Journals (Sweden)

    Anisa Caja

    2014-03-01

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

  10. Micro Credit and Gender: A Critical Assessment

    Directory of Open Access Journals (Sweden)

    Özlem BALKIZ

    2015-12-01

    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

  11. Modelling the predictive performance of credit scoring

    Directory of Open Access Journals (Sweden)

    Shi-Wei Shen

    2013-07-01

    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.

  12. Trade Credit Insurance and Asymmetric Information Problem

    Directory of Open Access Journals (Sweden)

    Sokolovska Olena

    2017-03-01

    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.

  13. Credit card spending limit and personal finance: system dynamics approach

    Directory of Open Access Journals (Sweden)

    Mirjana Pejić Bach

    2014-03-01

    Full Text Available Credit cards have become one of the major ways for conducting cashless transactions. However, they have a long term impact on the well being of their owner through the debt generated by credit card usage. Credit card issuers approve high credit limits to credit card owners, thereby influencing their credit burden. A system dynamics model has been used to model behavior of a credit card owner in different scenarios according to the size of a credit limit. Experiments with the model demonstrated that a higher credit limit approved on the credit card decreases the budget available for spending in the long run. This is a contribution toward the evaluation of action for credit limit control based on their consequences.

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

    Science.gov (United States)

    McCall, Michael; Trombetta, Jessica; Gipe, Aimee

    2004-08-01

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

  15. Does ownership structure improve credit ratings?

    Directory of Open Access Journals (Sweden)

    Aws AlHares

    2018-04-01

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

  16. The National Credit Act Regarding Suretyships and Reckless Lending

    African Journals Online (AJOL)

    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 ...

  17. 12 CFR 706.2 - Unfair credit practices.

    Science.gov (United States)

    2010-01-01

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

  18. 25 CFR 140.23 - Credit at trader's risk.

    Science.gov (United States)

    2010-04-01

    ... 25 Indians 1 2010-04-01 2010-04-01 false Credit at trader's risk. 140.23 Section 140.23 Indians....23 Credit at trader's risk. Credit given Indians will be at the trader's own risk, as no assistance... accept pawns or pledges of personal property by Indians to obtain credit or loans. ...

  19. 12 CFR 702.108 - Risk mitigation credit.

    Science.gov (United States)

    2010-01-01

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

  20. 20 CFR 606.23 - Avoidance of tax credit reduction.

    Science.gov (United States)

    2010-04-01

    ... 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...

  1. To what extent does banks' credit stimulate economic growth ...

    African Journals Online (AJOL)

    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 ...

  2. 76 FR 16235 - Corporate Credit Unions, Technical Corrections

    Science.gov (United States)

    2011-03-23

    ... inadvertently included particular investments that did not--when subject to the other credit risk and asset... NATIONAL CREDIT UNION ADMINISTRATION 12 CFR Part 707 RIN 3133-AD58 Corporate Credit Unions, Technical Corrections AGENCY: National Credit Union Administration (NCUA). ACTION: Final rule. SUMMARY: In...

  3. Dual Credit/Dual Enrollment and Data Driven Policy Implementation

    Science.gov (United States)

    Lichtenberger, Eric; Witt, M. Allison; Blankenberger, Bob; Franklin, Doug

    2014-01-01

    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…

  4. 26 CFR 20.2012-1 - Credit for gift tax.

    Science.gov (United States)

    2010-04-01

    ... 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...

  5. 20 CFR 606.20 - Cap on tax credit reduction.

    Science.gov (United States)

    2010-04-01

    ... 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...

  6. 20 CFR 227.5 - Employer tax credits.

    Science.gov (United States)

    2010-04-01

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

  7. 12 CFR 1400.1 - Farm Credit System Insurance Corporation.

    Science.gov (United States)

    2010-01-01

    ... 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...

  8. 76 FR 34985 - Farm Credit System Insurance Corporation Board Meeting

    Science.gov (United States)

    2011-06-15

    ... 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...

  9. Burnup credit for storage and transportation casks

    International Nuclear Information System (INIS)

    Wells, A.H.

    1988-01-01

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

  10. Indian Kisan Credit Card Scheme: An Analytical Study

    Directory of Open Access Journals (Sweden)

    Dharmendra Mehta

    2016-03-01

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

  11. Credit-Card Bill Seeks to Protect Students but Could Limit Their Access to Credit

    Science.gov (United States)

    Field, Kelly

    2009-01-01

    Congress passed legislation last week that would shield students and other consumers from sudden spikes in interest rates and fees, but that could make it harder for young people to access credit to pay for college. The legislation would extend broad new consumer protections to all credit-card holders, offering special protections to college…

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

    NARCIS (Netherlands)

    Cheng, X.; Degryse, H.A.

    2010-01-01

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

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

    NARCIS (Netherlands)

    Bongaerts, D.G.J.

    2010-01-01

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

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

    Science.gov (United States)

    Jensen, Barbara J.; And Others

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

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

    NARCIS (Netherlands)

    Fabbri, D.; Klapper, L.F.

    2008-01-01

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

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

    Directory of Open Access Journals (Sweden)

    K. K. Aggarwal

    2014-01-01

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

  17. 75 FR 81378 - Fiduciary Duties at Federal Credit Unions; Mergers and Conversions of Insured Credit Unions

    Science.gov (United States)

    2010-12-28

    ... 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...

  18. Correlates of credit card ownership in men and women.

    Science.gov (United States)

    Yang, Bijou; Lester, David

    2005-06-01

    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.

  19. International capital tax evasion and the foreign tax credit puzzle

    OpenAIRE

    Kimberley A. Scharf

    2001-01-01

    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...

  20. 12 CFR 614.4125 - Funding and discount relationships between Farm Credit Banks or agricultural credit banks and...

    Science.gov (United States)

    2010-01-01

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

  1. Credit Institutions Management Evaluation using Quantitative Methods

    Directory of Open Access Journals (Sweden)

    Nicolae Dardac

    2006-02-01

    Full Text Available Credit institutions supervising mission by state authorities is mostly assimilated with systemic risk prevention. In present, the mission is orientated on analyzing the risk profile of the credit institutions, the mechanism and existing systems as management tools providing to bank rules the proper instruments to avoid and control specific bank risks. Rating systems are sophisticated measurement instruments which are capable to assure the above objectives, such as success in banking risk management. The management quality is one of the most important elements from the set of variables used in the quoting process in credit operations. Evaluation of this quality is – generally speaking – fundamented on quantitative appreciations which can induce subjectivism and heterogeneity in quotation. The problem can be solved by using, complementary, quantitative technics such us DEA (Data Envelopment Analysis.

  2. Burnup credit in a dry storage module

    International Nuclear Information System (INIS)

    Thornton, J.R.

    1989-01-01

    Comparison of spent fuel storage expansion options available to Oconee Nuclear Station revealed that dry storage could be economically competitive with transshipment and rod consolidation. Economic competitiveness, however, mandated large unit capacity while existing cask handling facilities at Oconee severely limited size and weight. The dry storage concept determined to best satisfy these conflicting criteria is a 24 pressurized water reactor (PWR) fuel assembly capacity NUTECH Horizontal Modular Storage (NUHOMS) system. The Oconee version of the NUHOMS system takes advantage of burnup credit in demonstrating criticality safety. The burnup credit criticality analysis was performed by Duke Power Company's Design Engineering Department. This paper was prepared to summarize the criticality control design features employed in the Oconee NUHOMS-24P DSC basket and to describe the incentives for pursuing a burnup credit design. Principal criticality design parameters, criteria, and analysis methodology are also presented

  3. Valuing Catastrophe Bonds Involving Credit Risks

    Directory of Open Access Journals (Sweden)

    Jian Liu

    2014-01-01

    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.

  4. Ombud’s Corner: due credit!

    CERN Multimedia

    Sudeshna Datta-Cockerill

    2016-01-01

    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...

  5. Credit risk evaluation based on social media.

    Science.gov (United States)

    Yang, Yang; Gu, Jing; Zhou, Zongfang

    2016-07-01

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

  6. Modeling a Distribution of Mortgage Credit Losses

    Czech Academy of Sciences Publication Activity Database

    Gapko, Petr; Šmíd, Martin

    2012-01-01

    Roč. 60, č. 10 (2012), s. 1005-1023 ISSN 0013-3035 R&D Projects: GA ČR GD402/09/H045; GA ČR(CZ) GBP402/12/G097 Grant - others:Univerzita Karlova(CZ) 46108 Institutional research plan: CEZ:AV0Z10750506 Institutional support: RVO:67985556 Keywords : credit risk * mortgage * delinquency rate * generalized hyperbolic distribution * normal distribution Subject RIV: AH - Economics Impact factor: 0.194, year: 2012 http://library.utia.cas.cz/separaty/2013/E/smid-modeling a distribution of mortgage credit losses.pdf

  7. Modeling a Distribution of Mortgage Credit Losses

    Czech Academy of Sciences Publication Activity Database

    Gapko, Petr; Šmíd, Martin

    2010-01-01

    Roč. 23, č. 23 (2010), s. 1-23 R&D Projects: GA ČR GA402/09/0965; GA ČR GD402/09/H045 Grant - others:Univerzita Karlova - GAUK(CZ) 46108 Institutional research plan: CEZ:AV0Z10750506 Keywords : Credit Risk * Mortgage * Delinquency Rate * Generalized Hyperbolic Distribution * Normal Distribution Subject RIV: AH - Economics http://library.utia.cas.cz/separaty/2010/E/gapko-modeling a distribution of mortgage credit losses-ies wp.pdf

  8. Strategies for navigating the healthcare credit market.

    Science.gov (United States)

    Wareham, T L

    2001-04-01

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

  9. A random matrix approach to credit risk.

    Science.gov (United States)

    Münnix, Michael C; Schäfer, Rudi; Guhr, Thomas

    2014-01-01

    We estimate generic statistical properties of a structural credit risk model by considering an ensemble of correlation matrices. This ensemble is set up by Random Matrix Theory. We demonstrate analytically that the presence of correlations severely limits the effect of diversification in a credit portfolio if the correlations are not identically zero. The existence of correlations alters the tails of the loss distribution considerably, even if their average is zero. Under the assumption of randomly fluctuating correlations, a lower bound for the estimation of the loss distribution is provided.

  10. A random matrix approach to credit risk.

    Directory of Open Access Journals (Sweden)

    Michael C Münnix

    Full Text Available We estimate generic statistical properties of a structural credit risk model by considering an ensemble of correlation matrices. This ensemble is set up by Random Matrix Theory. We demonstrate analytically that the presence of correlations severely limits the effect of diversification in a credit portfolio if the correlations are not identically zero. The existence of correlations alters the tails of the loss distribution considerably, even if their average is zero. Under the assumption of randomly fluctuating correlations, a lower bound for the estimation of the loss distribution is provided.

  11. Tiebreaker: Certification and Multiple Credit Ratings

    OpenAIRE

    Dion Bongaerts; K.J. Martijn Cremers; William N. Goetzmann

    2009-01-01

    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% ...

  12. CAUTIOUS PRACTICE IN ACCOUNTANCY CREDIT UNITS

    Directory of Open Access Journals (Sweden)

    Riana Iren RADU

    2006-01-01

    Full Text Available The constitution of the specific risk prevision refers to their creation and is realized including in the cost the sum representing the level of the necessary specific risk provisions, in case there is no provision. The constitutions, regulation and the utilization of specific risk provisions will be realized using the credit currency and/or the investments they correct. Specific risk provisions are to be determined only for the client’s balance sheet engagements. The calculation for the necessary volume of provisions is realized for each and every credit contract referring to the final client classification category.

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

    Directory of Open Access Journals (Sweden)

    Libardo Quintero Salazar

    2016-12-01

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

  14. Islamic Banking Existence and Domestic Credit: Study at Seven Countries

    Directory of Open Access Journals (Sweden)

    Hamdan Yuafi

    2017-05-01

    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

  15. Emissions credits from natural gas vehicles

    International Nuclear Information System (INIS)

    Anderson, J.F.; Kodjak, D.

    1997-01-01

    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

  16. The determinants of trade credit use

    NARCIS (Netherlands)

    Hermes, Niels; Kihanga, Ernest; Lensink, Robert; Lutz, Clemens

    2015-01-01

    Most small businesses in the developing economies suffer from a lack of access to formal external finance. One important alternative source of finance for these entrepreneurs is trade credit. Applying a unique data-set containing data on specific trade relations between rice wholesalers and rice

  17. 76 FR 10209 - Corporate Credit Unions

    Science.gov (United States)

    2011-02-24

    ...(a)(4). Section III--Economic Advisability; Subsection B--Proposed Management's Character and Fitness... ``competence, experience, character, or integrity.'' The commenter suggested that these criteria should be the... any credit union depends on: (a) The character and fitness of management; (b) the depth of the members...

  18. The Determinants of Credit Rating: Brazilian Evidence

    Directory of Open Access Journals (Sweden)

    Flávia Cruz de Souza Murcia

    2014-04-01

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

  19. 75 FR 60651 - Corporate Credit Unions

    Science.gov (United States)

    2010-10-01

    ...) setting forth the requirements and process for chartering corporate federal credit unions. DATES: Comments... commitment (i.e., letters and/or contracts used to substantiate projections); and Services and marketing... assurance that the management team will have the requisite skills--particularly in leadership, accounting...

  20. Credit default swaps and risk-shifting

    NARCIS (Netherlands)

    Campello, M.; Matta, R.

    2012-01-01

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

  1. Burnup credit effect on proposed cask payloads

    International Nuclear Information System (INIS)

    Hall, I.K.

    1989-01-01

    The purpose of the Cask Systems Development Program (CSDP) is to develop a variety of cask systems which will allow safe and economical movement of commercial spent nuclear fuel and high-level waste from the generator to the Federal repository or Monitored Retrievable Storage (MRS) facility. Program schedule objectives for the initial phase of the CSDP include the development of certified spent fuel cask systems by 1995 to support Office of Civilian Radioactive Waste Management shipments from the utilities beginning in the late 1990s. Forty-nine proposals for developing a family of spent fuel casks were received and comparisons made. General conclusions that can be drawn from the comparisons are that (1) the new generation of casks will have substantially increased payloads in comparison to current casks, and (2) an even greater payload increase may be achievable with burnup credit. The ranges in the payload estimates do not allow a precise separation of the payload increase attributable to the proposed allowance of fuel burnup credit, as compared wilt the no-burnup-credit case. The beneficial effects of cask payload increases on overall costs and risks of transporting spent fuel are significant; therefore further work aimed toward taking advantage of burnup credit is warranted

  2. Understanding Credit Risk: A Classroom Experiment

    Science.gov (United States)

    Servatka, Maros; Theocharides, George

    2011-01-01

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

  3. Curriculum Development through YTS Modular Credit Accumulation.

    Science.gov (United States)

    Further Education Unit, London (England).

    This document reports the evaluation of the collaborately developed Modular Training Framework (MainFrame), a British curriculum development project, built around a commitment to a competency-based, modular credit accumulation program. The collaborators were three local education authorities (LEAs), those of Bedfordshire, Haringey, and Sheffield,…

  4. 32 CFR 643.116 - Credit unions.

    Science.gov (United States)

    2010-07-01

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

  5. WWER-1000 Burnup Credit Benchmark (CB5)

    International Nuclear Information System (INIS)

    Manolova, M.A.

    2002-01-01

    In the paper the specification of WWER-1000 Burnup Credit Benchmark first phase (depletion calculations), given. The second phase - criticality calculations for the WWER-1000 fuel pin cell, will be given after the evaluation of the results, obtained at the first phase. The proposed benchmark is a continuation of the WWER benchmark activities in this field (Author)

  6. 75 FR 73000 - Corporate Credit Unions

    Science.gov (United States)

    2010-11-29

    ... correcting adjustments necessary to conform with generally accepted accounting principles (GAAP) that were... report, signed by the chief executive officer and the chief accounting officer or chief financial officer... either the chief accounting officer or chief financial officer of the corporate credit union to sign the...

  7. Dynamic Dependence and Diversification in Corporate Credit

    DEFF Research Database (Denmark)

    Christoffersen, Peter; Jacobs, Kris; Jin, Xisong

    2018-01-01

    We characterize dependence in corporate credit and equity returns for 215 firms using a new class of large-scale dynamic copula models. Copula dependence and especially tail dependence are highly variable and persistent, increase significantly in the financial crisis, and have remained high since...

  8. Application of burnup credit concept to transport

    International Nuclear Information System (INIS)

    Futamura, Yoshiaki; Nakagome, Yoshihiro.

    1994-01-01

    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.)

  9. Agricultural credit repayment in Finoteselam town, northwestern ...

    African Journals Online (AJOL)

    ... of loans to consumption ends. Family planning, creating enabling conditions for insurance markets, and enhancing labour markets are areas of policy concerns that could further improve loan repayment performances. Key words: Agricultural credit, determinants, microfinance, ACSI, northwestern Ethiopia, Finoteselam ...

  10. Agricultural credit repayment in Finoteselam town, northwestern ...

    African Journals Online (AJOL)

    Administrator

    developing countries face three major problems: adverse selection ... The concept of providing subsidized credit service to the poor ... The performance of MFIs is evaluated based on their level of ... households in developing countries. ... formal banks as they use the mechanism of group lending. ...... Evidence from Ghana.

  11. Competitive Intelligence for MBA Students: Credit Courses

    OpenAIRE

    Kirkwood, Hal P, Jr

    2016-01-01

    Poster was presented at the Business & Finance Division Poster Session at the Special Libraries Association Annual Conference in Philadelphia, PA, 2016. Focus of the poster is on the credit-level courses taught by Prof Hal Kirkwood to MBA students in the Krannert Graduate School of Management on the topics of international business research and an introduction to competitive intelligence.

  12. Competition in the Dutch consumer credit market

    NARCIS (Netherlands)

    Toolsema-Veldman, Linda

    2002-01-01

    This paper considers the degree of competitiveness of the Dutch consumer credit market. We use the well-known Bresnahan-Lau method that estimates a structural model consisting of a demand relation and a supply relation, based on aggregate data. The level of competition is derived from the estimated

  13. Competition in the Dutch consumer credit market

    NARCIS (Netherlands)

    Toolsema-Veldman, Linda

    2001-01-01

    This paper considers the degree of competitiveness of the Dutch consumer credit market. We use the well-known I Bresnahan-Lau method that estimates it structural model consisting of a demand relation and a supply relation, based on aggregate data. The level of compelition is derived from the

  14. Trade credit, collateral liquidation and borrowing constraints

    NARCIS (Netherlands)

    Fabbri, D.; Menichini, A.M.C.

    2009-01-01

    The paper proposes a model of collateralized bank and trade credit. Firms use a two-input technology. Assuming that the supplier is better able to extract value from existing assets and has an information advantage over other creditors, the paper derives a series of predictions. (1) Financially

  15. Testing the generalized partial credit model

    NARCIS (Netherlands)

    Glas, Cornelis A.W.

    1996-01-01

    The partial credit model (PCM) (G.N. Masters, 1982) can be viewed as a generalization of the Rasch model for dichotomous items to the case of polytomous items. In many cases, the PCM is too restrictive to fit the data. Several generalizations of the PCM have been proposed. In this paper, a

  16. Some Considerations on the Partial Credit Model

    Science.gov (United States)

    Verhelst, N. D.; Verstralen, H. H. F. M.

    2008-01-01

    The Partial Credit Model (PCM) is sometimes interpreted as a model for stepwise solution of polytomously scored items, where the item parameters are interpreted as difficulties of the steps. It is argued that this interpretation is not justified. A model for stepwise solution is discussed. It is shown that the PCM is suited to model sums of binary…

  17. Outline of High School Credit Courses.

    Science.gov (United States)

    South Carolina State Dept. of Education, Columbia.

    An outline is presented of the objectives and content of courses offered for credit in high schools in South Carolina. Courses in the following subjects are described: (1) art; (2) drama; (3) driver education; (4) environmental education; (5) foreign language: French, German, Russian, Spanish; (6) health; (7) language arts; (8) mathematics; (9)…

  18. ACCESS TO MICRO CREDIT AND ECONOMIC EMPOWERMENT ...

    African Journals Online (AJOL)

    Prof

    market women have a low socio-economic status due to financial and ... market women have little or no access to micro credit schemes largely .... industry contributes to its poor performance in servicing the needs of the poor especially .... single; 11.1% are either divorced or separated; 33.3% are widows whereas a larger.

  19. School Facilities and Tax Credit Bonds

    Science.gov (United States)

    Edelstein, Frederick S.

    2009-01-01

    The tax credit portion of the American Recovery and Reinvestment Act of 2009 (also known as the economic stimulus package or ARRA) has three different entities that can be used for various school construction including new, modernization, renovation and acquisition of sites for school projects. The bond rule notice and allocations have been issued…

  20. The investment tax credit under monopolistic competition

    NARCIS (Netherlands)

    Broer, DP; Heijdra, BJ

    This pager develops a dynamic model of monopolistic competition with finite lives. It investigates the welfare properties of an investment tax credit (ITC) for both finite and infinite lives. For infinite lives, it shows that, lacking lump-sum taxes, an ITC suffices to attain a second-best solution.

  1. Trading biomass or GHG emission credits?

    NARCIS (Netherlands)

    Laurijssen, J; Faaij, A.P.C.

    2009-01-01

    Global biomass potentials are considerable but unequally distributed over the world. Countries with Kyoto targets could import biomass to substitute for fossil fuels or invest in bio-energy projects in the country of biomass origin and buy the credits (Clean Development Mechanism (CDM) and Joint

  2. Trade credit and the supply chain

    NARCIS (Netherlands)

    Fabbri, D.; Klapper, L.F.

    2009-01-01

    This paper studies supply chain financing. We investigate why a firm extends trade credit to its customers and how this decision relates to its own financing. 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

  3. 75 FR 75648 - Corporate Credit Unions

    Science.gov (United States)

    2010-12-06

    ... Board, National Credit Union Administration, 1775 Duke Street, Alexandria, Virginia 22314- 3428. Hand... library at 1775 Duke Street, Alexandria, Virginia 22314, by appointment weekdays between 9 a.m. and 3 p.m... Attorney, Office of General Counsel; and Lisa Henderson, Staff Attorney, Office of General Counsel, at the...

  4. Financial sustainability in savings and credit programmes.

    Science.gov (United States)

    Havers, M

    1996-05-01

    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

  5. COGEMA/TRANSNUCLEAIRE's experience with burnup credit

    International Nuclear Information System (INIS)

    Chanzy, Y.; Guillou, E.

    1998-01-01

    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)

  6. Formal and Informal Rural Credit in Four Provinces of Vietnam

    DEFF Research Database (Denmark)

    Barslund, Mikkel Christoffer; Tarp, Finn

    This paper uses a survey of 932 rural households to uncover how the rural credit market operates in four provinces of Vietnam. Households obtain credit through formal and informal lenders. 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. CREDIT RISK MINIMIZATION WAYS AND PRICING OF BANKING SERVICES

    Directory of Open Access Journals (Sweden)

    V. E. Gladkova

    2011-01-01

    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.

  8. Bank-firm credit network in Japan: an analysis of a bipartite network.

    Science.gov (United States)

    Marotta, Luca; Miccichè, Salvatore; Fujiwara, Yoshi; Iyetomi, Hiroshi; Aoyama, Hideaki; Gallegati, Mauro; Mantegna, Rosario N

    2015-01-01

    We investigate the networked nature of the Japanese credit market. Our investigation is performed with tools of network science. In our investigation we perform community detection with an algorithm which is identifying communities composed of both banks and firms. We show that the communities obtained by directly working on the bipartite network carry information about the networked nature of the Japanese credit market. Our analysis is performed for each calendar year during the time period from 1980 to 2011. To investigate the time evolution of the networked structure of the credit market we introduce a new statistical method to track the time evolution of detected communities. We then characterize the time evolution of communities by detecting for each time evolving set of communities the over-expression of attributes of firms and banks. Specifically, we consider as attributes the economic sector and the geographical location of firms and the type of banks. In our 32-year-long analysis we detect a persistence of the over-expression of attributes of communities of banks and firms together with a slow dynamic of changes from some specific attributes to new ones. Our empirical observations show that the credit market in Japan is a networked market where the type of banks, geographical location of firms and banks, and economic sector of the firm play a role in shaping the credit relationships between banks and firms.

  9. Bank-Firm Credit Network in Japan: An Analysis of a Bipartite Network

    Science.gov (United States)

    Marotta, Luca; Miccichè, Salvatore; Fujiwara, Yoshi; Iyetomi, Hiroshi; Aoyama, Hideaki; Gallegati, Mauro; Mantegna, Rosario N.

    2015-01-01

    We investigate the networked nature of the Japanese credit market. Our investigation is performed with tools of network science. In our investigation we perform community detection with an algorithm which is identifying communities composed of both banks and firms. We show that the communities obtained by directly working on the bipartite network carry information about the networked nature of the Japanese credit market. Our analysis is performed for each calendar year during the time period from 1980 to 2011. To investigate the time evolution of the networked structure of the credit market we introduce a new statistical method to track the time evolution of detected communities. We then characterize the time evolution of communities by detecting for each time evolving set of communities the over-expression of attributes of firms and banks. Specifically, we consider as attributes the economic sector and the geographical location of firms and the type of banks. In our 32-year-long analysis we detect a persistence of the over-expression of attributes of communities of banks and firms together with a slow dynamic of changes from some specific attributes to new ones. Our empirical observations show that the credit market in Japan is a networked market where the type of banks, geographical location of firms and banks, and economic sector of the firm play a role in shaping the credit relationships between banks and firms. PMID:25933413

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

    Directory of Open Access Journals (Sweden)

    Aggarawal K.K.

    2016-01-01

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

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

    Directory of Open Access Journals (Sweden)

    MIRELA MONEA

    2012-01-01

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

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

    Science.gov (United States)

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

    2018-03-01

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

  13. A Political Approach of the Popular Credit: Pierre-Joseph Proudhon and the mutual credit

    OpenAIRE

    Cyrille Ferraton; David Vallat

    2011-01-01

    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.

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

    OpenAIRE

    Kovachev, Goran

    2012-01-01

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

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

    OpenAIRE

    Barasinska, Nataliya; Schäfer, Dorothea

    2010-01-01

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

  16. Effects of Credit on Economic Growth, Unemployment and Poverty

    Directory of Open Access Journals (Sweden)

    Mangasa Augustinus Sipahutar

    2016-06-01

                  Effect of credit on economic growth, unemployment and poverty provides evidence from Indonesia on the role of banks credit for promoting economic growth and reducing both unemployment and poverty.  To document the link between banks credit and economic growth, we estimate a VAR model and variance decompositions of annual GDP per capita growth rates to examine what proxy measures of banks credit are most important in accounting for economic growth over time and how much they contribute to explaining economic growth.  We also estimate an ECM to document the relationship between banks credit to both unemployment and poverty.  This paper revealed bi-direction causality between banks credit and economic growth.  Banks credit promotes economic growth and economic growth affects credit depth and financial development.  Furthermore, banks credit is a growth accelerating factor on Indonesian economic growth.  Banks credit is an endogenous growth and a good predictor on Indonesian economy. Our estimation model explained that credit allocated by banks increases business escalation to the real sectors then promotes economic growth, decreases unemployment rate through increasing in labor demanded, increases income and then decrease poverty.  This overall transmission mechanism just occurred through presence of banks credit by increasing money supply to the real sectors, promotes growth and social welfare.   Keywords :  banks credit, economic growth, growth accelerating factor, poverty, unemployment   JEL Classification : E51, E52, E58

  17. 48 CFR 52.228-14 - Irrevocable Letter of Credit.

    Science.gov (United States)

    2010-10-01

    ... 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...

  18. Credit Risk Evaluation System For Nigerian Banks Using Artificial Ne

    African Journals Online (AJOL)

    MANKABS

    CREDIT RISK EVALUATION SYSTEM: AN ARTIFICIAL NEURAL NETWORK APPROACH of their own experiential .... limitations concern the high computational ... Number of existing credits at this bank. 7. Personal status and sex. 14. Job. 17.

  19. Arbitrary Deprivation of an Unregistered Credit Provider's Right to ...

    African Journals Online (AJOL)

    Arbitrary Deprivation of an Unregistered Credit Provider's Right to Claim Restitution of Performance Rendered Opperman v Boonzaaier (24887/2010) 2012 ZAWCHC 27 (17 April 2012) and National Credit Regulator v Opperman 2013 2 SA 1 (CC)

  20. 24 CFR 201.22 - Credit requirements for borrowers.

    Science.gov (United States)

    2010-04-01

    ... 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...

  1. Fission product margin in burnup credit analyses

    International Nuclear Information System (INIS)

    Finck, P.J.; Stenberg, C.G.

    1998-01-01

    The US Department of Energy (DOE) is currently working toward the licensing of a methodology for using actinide-only burnup credit for the transportation of spent nuclear fuel (SNF). Important margins are built into this methodology. By using comparisons with a representative experimental database to determine bias factors, the methodology ensures that actinide concentrations and worths are estimated conservatively; furthermore, the negative net reactivity of certain actinides and all fission products (FPs) is not taken into account, thus providing additional margin. A future step of DOE's effort might aim at establishing an actinide and FP burnup credit methodology. The objective of this work is to establish the uncertainty to be applied to the total FP worth in SNF. This will serve two ends. First, it will support the current actinide-only methodology by demonstrating the margin available from FPs. Second, it will identify the major contributions to the uncertainty and help set priorities for future work

  2. Credit Risk Management - Loan Approval Process

    Directory of Open Access Journals (Sweden)

    Lulzim Rashiti

    2016-03-01

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

  3. Neural fraud detection in credit card operations.

    Science.gov (United States)

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

    1997-01-01

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

  4. Portfolio Allocation Subject to Credit Risk

    Directory of Open Access Journals (Sweden)

    Rogerio de Deus Oliveira

    2003-12-01

    Full Text Available Credit Risk is an important dimension to be considered in the risk management procedures of financial institutions. Is a particularly useful in emerging markets where default rates on bank loan products are usually high. It is usually calculated through highly costly Monte Carlo simulations which consider different stochastic factors driving the uncertainly associated to the borrowers liabilities. In this paper, under some restrictions, we drive closed form formulas for the probability distributions of default rates of bank loans products involving a big number of clients. This allows us to quickly obtain the credit risk of such products. Moreover, using these probability distributions, we solve the problem of optimal portfolio allocation under default risk.

  5. Strategic interaction in undeveloped credit markets

    DEFF Research Database (Denmark)

    Andersen, Thomas Barnebeck; Malchow-Møller, Nikolaj

    2006-01-01

    This paper studies the strategic interaction between informal and formal lenders in undeveloped credit markets. In a model with adverse selection, loan seniority, market power, and differences in the cost of lending, it is shown that under general conditions a co-funding equilibrium will be a Nas...... evidence and the emerging discussion of how to best ensure financial viability and outreach of microfinance institutions......This paper studies the strategic interaction between informal and formal lenders in undeveloped credit markets. In a model with adverse selection, loan seniority, market power, and differences in the cost of lending, it is shown that under general conditions a co-funding equilibrium will be a Nash...

  6. Credit reporting, relationship banking, and loan repayment

    Directory of Open Access Journals (Sweden)

    Tahereh Shirzad Kebria

    2015-06-01

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

  7. Implied Materiality and Material Disclosures of Credit Ratings

    OpenAIRE

    Eccles, Robert G; Youmans, Timothy John

    2015-01-01

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

  8. The Incentive Effect of Scores: Randomized Evidence from Credit Committees

    OpenAIRE

    Daniel Paravisini; Antoinette Schoar

    2013-01-01

    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...

  9. 11 CFR 100.55 - Extension of credit.

    Science.gov (United States)

    2010-01-01

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

  10. The Regulation of the Credit Card Market in Turkey

    OpenAIRE

    Ahmet Faruk Aysan; L. Yildiz

    2006-01-01

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

  11. Credit counseling: a substitute for consumer financial literacy?

    OpenAIRE

    Disney, Richard; Gathergood, John; Weber, Jörg

    2015-01-01

    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...

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

    International Nuclear Information System (INIS)

    Sallmen Smith, L.J.

    1990-01-01

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

  13. Credit Scoring Problem Based on Regression Analysis

    OpenAIRE

    Khassawneh, Bashar Suhil Jad Allah

    2014-01-01

    ABSTRACT: This thesis provides an explanatory introduction to the regression models of data mining and contains basic definitions of key terms in the linear, multiple and logistic regression models. Meanwhile, the aim of this study is to illustrate fitting models for the credit scoring problem using simple linear, multiple linear and logistic regression models and also to analyze the found model functions by statistical tools. Keywords: Data mining, linear regression, logistic regression....

  14. Appropriate burnup measurements for transportation burnup credit

    International Nuclear Information System (INIS)

    Lancaster, D.; Fuentes, E.

    1997-01-01

    This paper addresses two of the measurement specifications used in analyzing spent fuel packages to gain burnup credit. The philosophy and calculation of rejection criteria and measurement accuracy are discussed. Any assembly for which the declared measured value and reactor record value deviate by more than 10% will be rejected. Measurement accuracy requirements are established for dependent and independent systems. The requirements have been tested and are achievable, ensuring safe operation without extra cost. 6 refs

  15. IMPROVEMENT OF SMALL BUSINESS CREDIT IN RUSSIA

    OpenAIRE

    Klimova N. V.; Shapovalova G. I.

    2015-01-01

    Small business is the basis for the development of the national economy, providing 60% of revenues in foreign countries. In Russia, this sector is developing slowly due to lack of funding. In connection with the development of small business, lending is growing in popularity in this sphere. The state develops a variety of programs to support small businesses in the form of public and private lending institutions, venture capital funds, credit unions. However, the volume of lending to small bu...

  16. Required reserves as a credit policy tool

    OpenAIRE

    Mimir, Yasin; Sunel, Enes; Taskin, Temel

    2012-01-01

    This paper conducts a quantitative investigation of the role of reserve requirements as a macroprudential policy tool. We build a monetary DSGE model with a banking sector in which (i) an agency problem between households and banks leads to endogenous capital constraints for banks in obtaining funds from households, (ii) banks are subject to time-varying reserve requirements that countercyclically respond to expected credit growth, (iii) households face cash-in-advance constraints, requiring ...

  17. Letters of credit getting more expensive.

    Science.gov (United States)

    Nemes, J

    1991-09-02

    Hospital executives who haven't been in the market recently for a new or renewed letter of credit will find it a more expensive way to back their variable-rate debt. Annual fees are surging, for reasons ranging from an international banking agreement that goes into effect next year to more conservative fee structures being instituted because of bad loans made by some banks in the past decade.

  18. Some Considerations on the Partial Credit Model

    OpenAIRE

    H.H.F.M. Verstralen; N.D. Verhelst

    2008-01-01

    The Partial Credit Model (PCM) is sometimes interpreted as a model for stepwise solution of polytomously scored items, where the item parameters are interpreted as di culties of the steps. It is argued that this interpretation is not justi ed. A model for stepwise solution is discussed. It is shown that the PCM is suited to model sums of binary responses which are not supposed to be stochastically independent. As a practical result, a statistical test of sto...

  19. Response Styles in the Partial Credit Model

    OpenAIRE

    Tutz, Gerhard; Schauberger, Gunther; Berger, Moritz

    2016-01-01

    In the modelling of ordinal responses in psychological measurement and survey- based research, response styles that represent specific answering patterns of respondents are typically ignored. One consequence is that estimates of item parameters can be poor and considerably biased. The focus here is on the modelling of a tendency to extreme or middle categories. An extension of the Partial Credit Model is proposed that explicitly accounts for this specific response style. In contrast to exi...

  20. FINANCIAL PERFORMANCE IN CREDIT INSTITUTION MANAGEMENT

    OpenAIRE

    IOV DANIELA RODICA

    2014-01-01

    Information concerning financial performance is one of the objectives of the annual financial statements of credit institutions. The main source containing this information is profit and loss statement. A correct and complete information can not be limited to this annual report. Understanding the concept of financial performance requires a holistic approach of the entity. An overview of information on financial performance will be achieved by coordinating information about the...

  1. Taxation of credit unions in Ukraine

    Directory of Open Access Journals (Sweden)

    Оксана Георгіївна Волкова

    2015-10-01

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

  2. Credit Market Development and Human Capital Accumulation

    OpenAIRE

    Ho, Wai-Hong

    2008-01-01

    In a two period overlapping generations economy with asymmetric information, we investigate the interaction between credit market development and human capital accumulation. As is typical, young borrowers supply their endowed unit of labor time to earn wage income which is used as internal funds. In contrast to conventional setups, young lenders distribute theirs between acquiring education and working for earnings. Through identifying the risk types of borrowers by a costly screening tech...

  3. Using discriminant analysis for credit decision

    Directory of Open Access Journals (Sweden)

    Gheorghiţa DINCĂ

    2015-12-01

    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.

  4. Creation of Carbon Credits by Water Saving

    Directory of Open Access Journals (Sweden)

    Yasutoshi Shimizu

    2012-07-01

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

  5. GHG trading awaits early action credit

    International Nuclear Information System (INIS)

    Anon.

    1999-01-01

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

  6. Conceptual cask design with burnup credit

    International Nuclear Information System (INIS)

    Lee, Seong Hee; Ahn, Joon Gi; Hwang, Hae Ryong

    2003-01-01

    Conceptual design has been performed for a spent fuel transport cask with burnup credit and a neutron-absorbing material to maximize transportation capacity. Both fresh and burned fuel are assumed to be stored in the cask and boral and borated stainless steel are selected for the neutron-absorbing materials. Three different sizes of cask with typical 14, 21 and 52 PWR fuel assemblies are modeled and analyzed with the SCALE 4.4 code system. In this analysis, the biases and uncertainties through validation calculations for both isotopic predictions and criticality calculation for the spent fuel have been taken into account. All of the reactor operating parameters, such as moderator density, soluble boron concentration, fuel temperature, specific power, and operating history, have been selected in a conservative way for the criticality analysis. Two different burnup credit loading curves are developed for boral and borated stainless steel absorbing materials. It is concluded that the spent fuel transport cask design with burnup credit is feasible and is expected to increase cask payloads. (author)

  7. Trade Credit and Access to Finance of Retailers in Ethiopia

    NARCIS (Netherlands)

    Beck, T.H.L.; Hoseini, Mohammad; Uras, Burak

    2018-01-01

    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

  8. 25 CFR 11.422 - Unauthorized use of credit cards.

    Science.gov (United States)

    2010-04-01

    ... 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...

  9. 77 FR 37558 - Disclosure of Certain Credit Card Complaint Data

    Science.gov (United States)

    2012-06-22

    ... 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...

  10. 77 FR 75410 - Request for Information Regarding Credit Card Market

    Science.gov (United States)

    2012-12-20

    ... 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...

  11. Credit Card Attitudes and Behaviors of College Students

    Science.gov (United States)

    Joo, S.-H.; Grable, J. E.; Bagwell, D. C.

    2005-01-01

    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…

  12. 26 CFR 1.50-1 - Restoration of credit.

    Science.gov (United States)

    2010-04-01

    ... 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...

  13. Financial innovation and bank behavior : Evidence from credit markets

    NARCIS (Netherlands)

    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

  14. 49 CFR 260.17 - Credit risk premium analysis.

    Science.gov (United States)

    2010-10-01

    ... 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...

  15. 12 CFR 932.4 - Credit risk capital requirement.

    Science.gov (United States)

    2010-01-01

    ... 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...

  16. 49 CFR 260.15 - Credit risk premium.

    Science.gov (United States)

    2010-10-01

    ... 49 Transportation 4 2010-10-01 2010-10-01 false Credit risk premium. 260.15 Section 260.15... REHABILITATION AND IMPROVEMENT FINANCING PROGRAM Overview § 260.15 Credit risk premium. (a) Where available... pay to the Administrator a Credit Risk Premium adequate to cover that portion of the subsidy cost not...

  17. 76 FR 10492 - Credit Reforms in Organized Wholesale Electric Markets

    Science.gov (United States)

    2011-02-25

    ..., 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

  18. 12 CFR 614.4810 - Standby letters of credit.

    Science.gov (United States)

    2010-01-01

    ... 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...

  19. How To Be...Credit Smart. "Straight Talk" Series.

    Science.gov (United States)

    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…

  20. The Term Structure of Credit Spreads on Euro Corporate Bonds

    NARCIS (Netherlands)

    van Landschoot, A.

    2003-01-01

    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

  1. 77 FR 74103 - Alternatives to the Use of Credit Ratings

    Science.gov (United States)

    2012-12-13

    ... 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...

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

    OpenAIRE

    Ashlock, Tara; Rimal, Arbindra

    2004-01-01

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

  3. 24 CFR 232.570 - Endorsement of credit instrument.

    Science.gov (United States)

    2010-04-01

    ... 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...

  4. 12 CFR 614.4010 - Agricultural credit banks.

    Science.gov (United States)

    2010-01-01

    ...) of this chapter, for the export (including the cost of freight) of agricultural commodities or... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Agricultural credit banks. 614.4010 Section 614.4010 Banks and Banking FARM CREDIT ADMINISTRATION FARM CREDIT SYSTEM LOAN POLICIES AND OPERATIONS...

  5. 12 CFR 614.4040 - Production credit associations.

    Science.gov (United States)

    2010-01-01

    ..., membership, term, amount, loan security, and stock or participation certificate requirements of the... Section 614.4040 Banks and Banking FARM CREDIT ADMINISTRATION FARM CREDIT SYSTEM LOAN POLICIES AND OPERATIONS Lending Authorities § 614.4040 Production credit associations. (a) Loan terms. (1) Production...

  6. 77 FR 8127 - Foreign Tax Credit Splitting Events

    Science.gov (United States)

    2012-02-14

    ... 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...

  7. 26 CFR 1.1502-3 - Consolidated tax credits.

    Science.gov (United States)

    2010-04-01

    ... 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...

  8. 26 CFR 1.1502-4 - Consolidated foreign tax credit.

    Science.gov (United States)

    2010-04-01

    ... 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...

  9. 17 CFR 256.411.5 - Investment tax credit.

    Science.gov (United States)

    2010-04-01

    ... 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...

  10. 77 FR 8184 - Foreign Tax Credit Splitting Events

    Science.gov (United States)

    2012-02-14

    ... 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...

  11. Expanding Choice: Tax Credits and Educational Access in Montana

    Science.gov (United States)

    Carpenter, Dick M., II; Ross, John K.

    2009-01-01

    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…

  12. Expanding Choice: Tax Credits and Educational Access in Indiana

    Science.gov (United States)

    Carpenter, Dick M., II; Ross, John K.

    2009-01-01

    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…

  13. 20 CFR 601.4 - Certification for tax credit.

    Science.gov (United States)

    2010-04-01

    ... 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...

  14. 12 CFR 725.17 - Applications for extensions of credit.

    Science.gov (United States)

    2010-01-01

    ... 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...

  15. 40 CFR 1033.715 - Banking emission credits.

    Science.gov (United States)

    2010-07-01

    ... 40 Protection of Environment 32 2010-07-01 2010-07-01 false Banking emission credits. 1033.715... CONTROLS CONTROL OF EMISSIONS FROM LOCOMOTIVES Averaging, Banking, and Trading for Certification § 1033.715 Banking emission credits. (a) Banking is the retention of emission credits by the manufacturer...

  16. 7 CFR 3575.3 - Full faith and credit.

    Science.gov (United States)

    2010-01-01

    ... 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...

  17. 7 CFR 1980.308 - Full faith and credit.

    Science.gov (United States)

    2010-01-01

    ... 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...

  18. 7 CFR 762.103 - Full faith and credit.

    Science.gov (United States)

    2010-01-01

    ... 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...

  19. 7 CFR 1779.3 - Full faith and credit.

    Science.gov (United States)

    2010-01-01

    ... 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...

  20. 7 CFR 1738.31 - Full faith and credit.

    Science.gov (United States)

    2010-01-01

    ... 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. ...

  1. 12 CFR 614.4356 - Farm Credit Leasing Services Corporation.

    Science.gov (United States)

    2010-01-01

    ... 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...

  2. 5 CFR 1315.13 - Commodity Credit Corporation payments.

    Science.gov (United States)

    2010-01-01

    ... 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...

  3. 12 CFR 221.125 - Credit to brokers and dealers.

    Science.gov (United States)

    2010-01-01

    ... 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...

  4. 12 CFR 220.132 - Credit to brokers and dealers.

    Science.gov (United States)

    2010-01-01

    ... 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...

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

    Directory of Open Access Journals (Sweden)

    O. Solodka

    2015-03-01

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

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

    Science.gov (United States)

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

    2018-03-01

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

  7. The cost of anchoring on credit-card minimum repayments

    OpenAIRE

    Stewart, Neil

    2009-01-01

    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...

  8. Credit risk identification and suggestions of electricity market

    Science.gov (United States)

    He, Chuan; Wang, Haichao; Chen, Zhongyuan; Hao, Yuxing; Jiang, Hailong; Qian, Hanhan; Wang, Meibao

    2018-03-01

    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.

  9. Determinants of Trade Credit: A Preliminary Analysis on Construction Sector

    Directory of Open Access Journals (Sweden)

    Nicoleta Barbuta-Misu

    2016-07-01

    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.

  10. Standardization of Social Credit System Initiated in China

    Institute of Scientific and Technical Information of China (English)

    2004-01-01

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

  11. Burnup credit activities being conducted in the United States

    International Nuclear Information System (INIS)

    Lake, W.

    1998-01-01

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

  12. The Supply of Trade Credit by Brazilian Publicly Traded Firms

    Directory of Open Access Journals (Sweden)

    Rafael Felipe Schiozer

    2011-12-01

    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.

  13. A neural network model for credit risk evaluation.

    Science.gov (United States)

    Khashman, Adnan

    2009-08-01

    Credit scoring is one of the key analytical techniques in credit risk evaluation which has been an active research area in financial risk management. This paper presents a credit risk evaluation system that uses a neural network model based on the back propagation learning algorithm. We train and implement the neural network to decide whether to approve or reject a credit application, using seven learning schemes and real world credit applications from the Australian credit approval datasets. A comparison of the system performance under the different learning schemes is provided, furthermore, we compare the performance of two neural networks; with one and two hidden layers following the ideal learning scheme. Experimental results suggest that neural networks can be effectively used in automatic processing of credit applications.

  14. Measuring Credit Capacity on Danish Farms Using DEA

    DEFF Research Database (Denmark)

    Friis Pedersen, Michael; Vesterlund Olsen, Jakob

    2013-01-01

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

  15. CREDIT RISK MANAGEMENT IN THE COMMERCIAL BANKS IN ROMANIA

    Directory of Open Access Journals (Sweden)

    Mihaela SUDACEVSCHI

    2014-04-01

    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.

  16. IMPLICATIONS OF CREDIT RISK TRANSFER ON BANK PERFORMANCES

    Directory of Open Access Journals (Sweden)

    Victoria COCIUG

    2015-07-01

    Full Text Available The impact of the financial crisis has demonstrated the fragility of the banking sector and the need to implement new technologies that would allow not only insurance against the most important credit risk - credit risk, but development of lending segment. In such conditions, transfer of credit risk is an efficient and actual way to diversify the banks exposure for credit risk by the presence of those who are willing to take on some of this risk. Taking of credit risk can be achieved through credit derivatives, securitization and sale of loans, being selected the most advantageous technique for the bank. The current situation of the national banking sector requires solving the problem of bad loans, which, unfortunately, are increasing, by implementing new techniques for credit risk management according with EU directives.

  17. Credit scoring analysis using weighted k nearest neighbor

    Science.gov (United States)

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

    2018-05-01

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

  18. Efficacy of Online Algebra I for Credit Recovery for At-Risk Ninth Grade Students: Evidence from Year 1

    Science.gov (United States)

    Heppen, Jessica; Allensworth, Elaine; Walters, Kirk; Pareja, Amber Stitziel; Kurki, Anja; Nomi, Takako; Sorensen, Nicholas

    2012-01-01

    This study is an efficacy trial funded by a grant from the Institute of Education Sciences (IES) National Center for Education Research (NCER). Fifteen CPS high schools are receiving funding to implement two Algebra I credit recovery courses during the summer sessions of 2011 and 2012--one online and one face-to-face (f2f). These courses allow…

  19. Credit Ratings Failures and Policy Options

    OpenAIRE

    Marco Pagano; Paolo Volpin

    2009-01-01

    This paper examines the role of credit rating agencies in the subprime crisis that triggered the 2007-2008 financial turmoil. We focus on two aspects of ratings that contributed to the boom and bust of the market for structured debt: rating inflation and coarse information disclosure. The paper discusses how regulation can be designed to mitigate these problems in the future. Our preferred policy is to require rating agencies to be paid by investors rather than by issuers and to grant open an...

  20. Importance of credit strategy for banks

    OpenAIRE

    Valvonis, Vytautas

    2009-01-01

    Šiame straipsnyje atskleidžiama kredito strategijos dokumento reikšmė banko veikloje, pateikiami siūlymai šio dokumento turiniui, tikslui ir funkcijoms. Siekiant šio tikslo straipsnyje analizuojami rizikos kontrolės ir valdymo bei verslo padalinių bendradarbiavimo banke ypatumai. This paper shows credit strategy document functions in a bank and gives proposals on its contents and goals, also reveals its importance. To achieve this goal cooperation between business and risk control / manage...

  1. Capacity credit of microgeneration and microgrids

    Energy Technology Data Exchange (ETDEWEB)

    Moises Costa, Paulo [Escola Superior Tecnologia e Gestao de Viseu, Instituto Politecnico Viseu, Viseu (Portugal); INESC Porto (Portugal); Matos, Manuel A. [INESC Porto, Faculdade de Engenharia, Universidade do Porto, Porto (Portugal)

    2010-10-15

    The recent development of the concept of microgrid ({mu}Grid), associated to the emergent interest in microgeneration ({mu}Gen), has raised a number of challenges regarding the evaluation of the technical, economical and regulatory impacts of a high penetration of this kind of solutions in the power systems. In this paper, the topic of security of supply is addressed, aiming at evaluating the influence of {mu}Gen and {mu}Grids in the medium- and long-term availability of generation to serve the forecasted load. A Monte-Carlo based methodology is used to evaluate this influence and to assess the capacity credit of those entities. (author)

  2. Testing the generalized partial credit model

    OpenAIRE

    Glas, Cornelis A.W.

    1996-01-01

    The partial credit model (PCM) (G.N. Masters, 1982) can be viewed as a generalization of the Rasch model for dichotomous items to the case of polytomous items. In many cases, the PCM is too restrictive to fit the data. Several generalizations of the PCM have been proposed. In this paper, a generalization of the PCM (GPCM), a further generalization of the one-parameter logistic model, is discussed. The model is defined and the conditional maximum likelihood procedure for the method is describe...

  3. Some Considerations on the Partial Credit Model

    Directory of Open Access Journals (Sweden)

    H.H.F.M. Verstralen

    2008-01-01

    Full Text Available The Partial Credit Model (PCM is sometimes interpreted as a model for stepwise solution of polytomously scored items, where the item parameters are interpreted as di culties of the steps. It is argued that this interpretation is not justi ed. A model for stepwise solution is discussed. It is shown that the PCM is suited to model sums of binary responses which are not supposed to be stochastically independent. As a practical result, a statistical test of stochastic independence in the Rasch model is derived

  4. Nonconventional fuel tax credit application deadline approaches

    International Nuclear Information System (INIS)

    Lewis, F.W.; Steger, E.K.

    1992-01-01

    This paper reports that the US Federal Energy Regulatory Commission has established Dec. 31, 1992, as the deadline for producers to file Natural Gas Policy Act applications for gas produced from nonconventional fuel sources. Qualifying wells may receive tax credits ranging from 52 cents/MMBTU to 92 cents/MMBTU depending on the category and year of production. The most commonly eligible wells include tight formations, coalbed methanes, and gas from Devonian shales. FERC Order 539 allows producers to make application with the state jurisdictional agencies through Dec. 31, 1992. Many state jurisdictional agencies are willing to accept partial applications to be completed shortly thereafter

  5. Wholesale funding, coordination, and credit risk

    OpenAIRE

    Zhang, Lei; Zhang , Lin; Zheng, Yong

    2013-01-01

    We use the global games approach to study key factors affecting the credit risk\\ud associated with roll-over of bank debt. When creditors are heterogenous, these include\\ud the extent of short-term borrowing and capital market liquidity for repo financing.\\ud Specifically, in a model with a large institutional creditor and a continuum of small\\ud creditors independently making their roll-over decisions based on private information,\\ud we find that increasing the proportion of short-term debt and/...

  6. MODEL PENSKORAN PARTIAL CREDIT PADA BUTIR MULTIPLE TRUE-FALSE BIDANG FISIKA

    Directory of Open Access Journals (Sweden)

    Wasis Wasis

    2013-01-01

    in 2007 of Faculty of Mathematics and Science of Surabaya State University. The testees’ responses were scored using the partial credit model (PCM I; II; and III and also dichotomously scored. The results of the four scoring models were analyzed using the Quest program to obtain the estimation of the butir difficulty level (δ and that of the testees’ abilities (θ. The generating of the simulation data used the SAS statistical program and the estimation accuracy was analyzed by using the root mean squared error (RMSE method. The results of the study show the following: (i The scoring with the partial credit model with weighting is capable of estimating abilities more accurate than without weighting and dichotomous scoring; (ii The more the number of the categories in the partial credit scoring is, the more accurate the result of the ability estimation. Keywords: partial credit model scoring, multiple true-false butir

  7. 12 CFR 614.4590 - Equitable treatment of OFIs and Farm Credit System associations.

    Science.gov (United States)

    2010-01-01

    ... 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...

  8. Credit scores, cardiovascular disease risk, and human capital.

    Science.gov (United States)

    Israel, Salomon; Caspi, Avshalom; Belsky, Daniel W; Harrington, HonaLee; Hogan, Sean; Houts, Renate; Ramrakha, Sandhya; Sanders, Seth; Poulton, Richie; Moffitt, Terrie E

    2014-12-02

    Credit scores are the most widely used instruments to assess whether or not a person is a financial risk. Credit scoring has been so successful that it has expanded beyond lending and into our everyday lives, even to inform how insurers evaluate our health. The pervasive application of credit scoring has outpaced knowledge about why credit scores are such useful indicators of individual behavior. Here we test if the same factors that lead to poor credit scores also lead to poor health. Following the Dunedin (New Zealand) Longitudinal Study cohort of 1,037 study members, we examined the association between credit scores and cardiovascular disease risk and the underlying factors that account for this association. We find that credit scores are negatively correlated with cardiovascular disease risk. Variation in household income was not sufficient to account for this association. Rather, individual differences in human capital factors—educational attainment, cognitive ability, and self-control—predicted both credit scores and cardiovascular disease risk and accounted for ∼45% of the correlation between credit scores and cardiovascular disease risk. Tracing human capital factors back to their childhood antecedents revealed that the characteristic attitudes, behaviors, and competencies children develop in their first decade of life account for a significant portion (∼22%) of the link between credit scores and cardiovascular disease risk at midlife. We discuss the implications of these findings for policy debates about data privacy, financial literacy, and early childhood interventions.

  9. The Dilemmas over Credit Policy Management in a Company

    Directory of Open Access Journals (Sweden)

    Maria Gorczyńska

    2013-11-01

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

  10. Credit Default Swaps networks and systemic risk

    Science.gov (United States)

    Puliga, Michelangelo; Caldarelli, Guido; Battiston, Stefano

    2014-11-01

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

  11. Credit Default Swaps networks and systemic risk.

    Science.gov (United States)

    Puliga, Michelangelo; Caldarelli, Guido; Battiston, Stefano

    2014-11-04

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

  12. Prepayment risk, impact on credit products

    Directory of Open Access Journals (Sweden)

    Dan Costin NIŢESCU

    2012-08-01

    Full Text Available Credit pricing is always an important aspect of operations of banks, as loans are generally two thirds of bank assets. Therefore, the study of factors influencing a bank customer behavior and their impact on early repayment of loans may have a significant influence in reducing the risk assumed by such unexpected operations.Objective analysis of prepayment risk is to estimate the probability of repayment to better manage its manifestation. The existence of potential customers that use this option exposes the bank to a number of risks, such as interest rate risk, the maturity mismatch risk and liquidity risk.Proper evaluation and forecasting the evolution of this risk can bring great benefits for a credit institution in the management of loan products and customer relationship: lower risk of over-ensure against fixed rate mortgage, a better management of short-term and long term liquidity needs (thus reducing the risk of over-financing can offer customers more competitive pricing (achieved by reducing funding costs due to better assessment and management of risks involved early repayment.

  13. FINANCIAL PERFORMANCE IN CREDIT INSTITUTION MANAGEMENT

    Directory of Open Access Journals (Sweden)

    IOV DANIELA RODICA

    2014-05-01

    Full Text Available Information concerning financial performance is one of the objectives of the annual financial statements of credit institutions. The main source containing this information is profit and loss statement. A correct and complete information can not be limited to this annual report. Understanding the concept of financial performance requires a holistic approach of the entity. An overview of information on financial performance will be achieved by coordinating information about the profit of the entity, rates of return, cash flows, financing cost and risk. For the economic and financial analysis we often use to separate financial equilibrium indicators of outcome indicators and management indicators. The study upon the financial performance may be based on the income statement, balance sheet and explanatory notes. It may use tools such as: income, interest rates, rates of return, rates of structure, liquidity and solvency rates, rotation rates, cash flows, debt coverage rates and more. Management of banking assets, liabilities and bank risk management must be assembled into a whole. In an uncertain environment, continuously changing, under conditions of the economic and financial crisis, the binomial profitability - risk is increasingly difficult to manage. Under these conditions, the boundary between courage and unconsciousness is also more fragile. On the other hand, the prudence, mandatory rules could be understood as some constraint measures on bank management, that may adversely affect the financial performance of the credit institution.

  14. Saving and credit cooperatives in Mexico

    Directory of Open Access Journals (Sweden)

    Martha E. Izquierdo Muciño

    2015-11-01

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

  15. Network topology and interbank credit risk

    International Nuclear Information System (INIS)

    González-Avella, Juan Carlos; Hoffmann de Quadros, Vanessa; Iglesias, José Roberto

    2016-01-01

    Modern financial systems are greatly entangled. They exhibit a complex interdependence, including a network of bilateral exposures in the interbank market. The most frequent interaction consists in operations where institutions with surplus liquidity lend to those with a liquidity shortage. These loans may be interpreted as links between the banks and the links display features in some way representative of scale-free networks. While the interbank market is responsible for efficient liquidity allocation, it also introduces the possibility for systemic risk via financial contagion. Insolvency of one bank can propagate through links leading to insolvency of other banks. In this paper, we explore the characteristics of financial contagion in interbank networks whose distribution of links approaches a power law, as well as we improve previous models by introducing a simple mechanism to describe banks’ balance sheets, that are obtained from information on network connectivity. By varying the parameters for the creation of the network, several interbank networks are built, in which the concentration of debt and credit comes from the distribution of links. The results suggest that more connected networks that have a high concentration of credit are more resilient to contagion than other types of networks analyzed.

  16. Trade credit as an alternative to bank credit during the financial crisis

    NARCIS (Netherlands)

    Kabir, Mohammed Rezaul; Zubair, Sirazul

    2015-01-01

    This paper examines the trade credit behavior of a sample of Dutch small and medium sized enterprises (SMEs) before and after the recent financial crisis. We analyze a relatively large dataset of 368 firms over the period of 2003-2012. Our findings suggest that trade payables decreased significantly

  17. 78 FR 4875 - Office of Small Credit Unions (OSCUI) Loan Program Access for Credit Unions

    Science.gov (United States)

    2013-01-23

    ... credit union's marketing strategy to reach members and the community; and include financial projections... required to obtain matching funds. However, each Applicant should address in the Application its strategy...) Matching Funds: A narrative describing its strategy for raising matching funds from non-federal sources if...

  18. 78 FR 2449 - Office of Small Credit Unions (OSCUI) Grant Program Access for Credit Unions

    Science.gov (United States)

    2013-01-11

    ... members to stimulate economic activities in their communities. Through the OSCUI Grant Program, NCUA... March, 15, 2013 OSCUI will accept applications from credit unions under the Collaboration Initiative..., scalable, replicable and cost-saving collaboration. Under this initiative a single LICU must collaborate...

  19. Education Tax Credits: Refundability Critical to Making Credits Helpful to Low-Income Students and Families

    Science.gov (United States)

    Saunders, Katherine; Lower-Basch, Elizabeth

    2015-01-01

    Half of all non-loan federal student aid is now offered as tax benefits for educational costs in the form of credits, deductions, and college savings accounts. These benefits help students and families offset the costs of their postsecondary education with tax savings. Yet, as explained in the 2013 report, "Reforming Student Aid: How to…

  20. 78 FR 33445 - Office of Small Credit Unions (OSCUI) Grant Program Access For Credit Unions

    Science.gov (United States)

    2013-06-04

    ... hardware and software necessary to convert to computerized operations. The maximum award amount for this...,000 per credit union for financial education projects that improve financial capability in the... found on D&B's Web site at http://fedgov.dnb.com/webform or by calling D&B, toll-free, at 1-866-705-5711...

  1. RENEWAL OF CRIMINAL LAW AGAINST ABUSE OF CREDIT CARDS

    Directory of Open Access Journals (Sweden)

    Eka Nugraha

    2015-07-01

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

  2. A Macroeconomic Model of Credit Risk in Uruguay

    Directory of Open Access Journals (Sweden)

    Gabriel Illanes

    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.

  3. Optimal advanced credit releases in ecosystem service markets.

    Science.gov (United States)

    BenDor, Todd K; Guo, Tianshu; Yates, Andrew J

    2014-03-01

    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.

  4. Credit risk in liberalised power and natural gas markets

    International Nuclear Information System (INIS)

    Lapson, E.; Hunter, Richard

    1999-01-01

    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

  5. ENHANCEMENT OF THE CREDIT GRANTING SYSTEM OF AGRICULTURAL PRODUCERS

    Directory of Open Access Journals (Sweden)

    Yuliya Evgenievna Klishina

    2015-08-01

    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.

  6. Implementation of burnup credit in spent fuel management systems

    International Nuclear Information System (INIS)

    Dyck, H.P.

    2001-01-01

    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)

  7. Quantité négligeable or Formidable Rival? Primo de Rivera Spain’s French Image | ¿Quantité négligeable o rival terrible?: la imagen francesa de la España primorriverista

    Directory of Open Access Journals (Sweden)

    Ángel Herrerín López

    2017-12-01

    Full Text Available The diplomatic reports issued from the French Embassy in Spain during Primo de Rivera’s dictatorship emphasize two affairs that capture the attention of Inter-War Period Europe: First, the Morocco issue, in which both national colonial interests and geo-strategic interests of the Mediterranean powers were at stake, specially the expansionist interests of Mussolini’s Italy. Second, the fear of communism, which had an influence on the drift towards authoritarianism of most European countries. The aim of this work is to analyse those reports from the perspective of the image of Spain projected by ambassadors, consuls and attachés, not only as a source for understanding the decision-making process of the French governments, but also as a way of obtaining a new viewpoint, always to be taken into account, of the country’s domestic events. | Los informes diplomáticos emitidos desde la Embajada de Francia en España durante la Dictadura de Primo de Rivera hacían hincapié en dos asuntos que acaparaban la atención de la Europa de entreguerras: la cuestión de Marruecos, en la que, además de los intereses coloniales nacionales, estaban en juego los intereses geoestratégicos de las potencias mediterráneas, y muy en concreto los intereses expansionistas de la Italia de Mussolini, y el miedo al comunismo, que influyó en la deriva autoritaria de buena parte de los países europeos. El presente artículo pretende analizar dichos informes desde la perspectiva de la imagen de España que proyectaban embajadores, cónsules y agregados, ya no sólo como fuente para entender la toma de decisiones de los gobiernos de la metrópoli, sino también para obtener otra visión, siempre a tener en cuenta, de los acontecimientos internos de nuestro país.

  8. The Development and Structure of Consumer Credit in Japan

    Science.gov (United States)

    1989-06-01

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

  9. 26 CFR 1.25A-4 - Lifetime Learning Credit.

    Science.gov (United States)

    2010-04-01

    ... 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...

  10. Sovereign Credit Risk in Latin America and Global Common Factors

    OpenAIRE

    Manuel Agosin Trumper; Juan Díaz Maureira

    2012-01-01

    This paper studies the importance of global common factors in the evolution of sovereign credit risk in a group of emerging economies (15 countries in Latin America for which daily data are available on sovereign credit spreads and CDS quotations from the beginning of 2007 until February 2012). We arrive at three principal results. First, there is robust evidence for the existence of a common factor in the evolution of the two measurements of sovereign credit risk that we use. Second, the com...

  11. Credit conditions and firm investment: Evidence from the MENA region

    OpenAIRE

    Herrala, Risto; Turk Ariss, Rima

    2012-01-01

    The Arab Spring is a clear indicator of the urgency of achieving inclusive growth and ensuring job creation in the Middle East and North Africa (MENA) region, where private sector development is still hindered by limited access to credit. Following Kiyotaki and Moore's (1997) seminal model, we apply a novel methodological approach to a unique data set of MENA firms to estimate credit limits and their impacts on capital accumulation. Notably, we find higher credit limits in countries where the...

  12. A NEW NBR POLITICS RELATED TO THE CREDITING ACTIVITY

    Directory of Open Access Journals (Sweden)

    Lucian Ion MEDAR

    2009-12-01

    Full Text Available Romania will not be eschewed by the consequences of the economical recession that hit USA and arrived in the main states of the EU. In this context The National Bank of Romania has introduced a new set of monetary rules that mostly regards the banking system crediting. The first measures of the NBR (BNR are increasing the stock of foreign currency and increasing the reference interest so that the credit institutions will be forced to make credits more expensive.

  13. Money and Credit With Limited Commitment and Theft

    OpenAIRE

    Williamson, Stephen; Sanches, Daniel

    2009-01-01

    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 ...

  14. Credit channels in Europe: a cross-country investigation

    Directory of Open Access Journals (Sweden)

    G.J. DE BONDT

    1999-09-01

    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.

  15. Liquidity and credit risk in the emerging financial markets

    OpenAIRE

    Amir Saadaoui, Younes Boujelbene

    2014-01-01

    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...

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

    OpenAIRE

    Joanna Wielgórska-Leszczyńska

    2016-01-01

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

  17. Formal and informal credit in four provinces of Vietnam

    DEFF Research Database (Denmark)

    Barslund, Mikkel; Tarp, Finn

    2008-01-01

    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...

  18. Foreign currency exchange network topology across the 2008 credit crisis

    Science.gov (United States)

    Sharif, Shamshuritawati; Ap, Nuraisah Che; Ruslan, Nuraimi

    2017-05-01

    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.

  19. Consumer Credit Card Use Intention and Influence Factors Analysis

    Directory of Open Access Journals (Sweden)

    Wang Yantao

    2017-01-01

    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.

  20. Sovereign Credit Risk, Liquidity, and European Central Bank Intervention

    DEFF Research Database (Denmark)

    Pelizzon, Loriana; Subrahmanyam, Marti G.; Tomio, Davide

    2016-01-01

    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...

  1. The Role of Credit in Predicting US Recessions

    DEFF Research Database (Denmark)

    Pönkä, Harri

    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...

  2. Consumer susceptibility to credit card misuse and indebtedness

    OpenAIRE

    Awanis, Sandra; Cui, Charles Chi

    2014-01-01

    Purpose – 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 – a phenomena the authors call as “credit card effect.� Little is known about the individuals’ differential exposure to the credit card effect. The pur...

  3. Development Credit Authority (DCA) Data Set: Loan Transactions

    Data.gov (United States)

    US Agency for International Development — USAID's Development Credit Authority (DCA) works with investors, local financial institutions, and development organizations to design and deliver investment...

  4. Development Credit Authority (DCA) Data Set: Guarantee Utilization and Claims

    Data.gov (United States)

    US Agency for International Development — USAID's Development Credit Authority (DCA) works with investors, local financial institutions, and development organizations to design and deliver investment...

  5. A online credit evaluation method based on AHP and SPA

    Science.gov (United States)

    Xu, Yingtao; Zhang, Ying

    2009-07-01

    Online credit evaluation is the foundation for the establishment of trust and for the management of risk between buyers and sellers in e-commerce. In this paper, a new credit evaluation method based on the analytic hierarchy process (AHP) and the set pair analysis (SPA) is presented to determine the credibility of the electronic commerce participants. It solves some of the drawbacks found in classical credit evaluation methods and broadens the scope of current approaches. Both qualitative and quantitative indicators are considered in the proposed method, then a overall credit score is achieved from the optimal perspective. In the end, a case analysis of China Garment Network is provided for illustrative purposes.

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

    Directory of Open Access Journals (Sweden)

    JOANNA WIELGÓRSKA-LESZCZYŃSKA

    2016-06-01

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

  7. Effects of Credit on Economic Growth, Unemployment and Poverty

    OpenAIRE

    Sipahutar, Mangasa Augustinus

    2016-01-01

    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...

  8. Populismo municipal y nacionalcatolicismo en la Valencia del general Primo de Rivera: el marqués de Sotelo (1923-1930 = Populism and Municipal Propaganda in Valencia during Primo de Rivera’s Dictatorship: the Marquis of Sotelo (1923-1930.

    Directory of Open Access Journals (Sweden)

    Julio López Iñíguez

    2016-05-01

    Full Text Available El presente trabajo pretende explicar las principales características políticas del régimen de Primo de Rivera en la ciudad de Valencia. Desde un análisis de la política municipal, el populismo y la publicidad de la construcción de obras públicas se presentan como los principales pilares para la consolidación del régimen en Valencia. La praxis política del marqués de Sotelo supuso para la ciudad el primer contacto con el nacionalcatolicismo. La figura de este alcalde, además, ocupa buena parte del texto al ser un fiel exponente de las prácticas políticas nacidas tras el golpe de septiembre de 1923.This paper aims to explain the main features of the political regime of Primo de Rivera in the city of Valencia. From an analysis of municipal politics, populism and advertising public works construction are presented as the main supports for the consolidation of the regime in Valencia. The political praxis of the Marquis of Sotelo assumed for the city’s first contact with the National Catholicism. The figure of the mayor, also occupies much of the text to be a faithful exponent of political practices born after the September 1923 coup.

  9. Financing renewable energies through MicroCredit

    International Nuclear Information System (INIS)

    Wimmer, N.

    1999-01-01

    The environment, which led to the creation of the Grameen Bank was: no access to credit for the poor in rural Bangladesh. The environment, which led to the creation of Grameen Shakti was: no access to electricity and renewable energies. Through the experience of Grameen, we see the poor differently: they are good business partners, open to modern technology, they can and must be integrated into the economy. Microcredit not only creates purchasing. Power, but acceptance of new ideas and technologies. Microcredit is a catalyst for change. Our challenge is to create an environment which allows change to take place. To create an environment which finances sustainable development. Sustainable development is everybody's business. (orig./RHM)

  10. Capacity Credit and Security of Supply

    DEFF Research Database (Denmark)

    Chozas, Julia Fernandez; Mathiesen, Brian Vad

    2015-01-01

    electricity systems are planned, and how renewable energies fit in these systems. The second part of the article assesses the actual contribution that variable renewable energies can make to security of supply, firstly from a qualitative point of view and secondly in measurable terms. The study is based......This paper addresses the question of how renewable energies can contribute to security of supply. In order to analyse this subject, the paper has two differentiated parts. In the first part, the concept of security of supply is reviewed. This provides the baseline to understand how current...... demand for electricity is highest, the study focuses on the capacity credit of future Danish scenarios including high penetrations of offshore wind, onshore wind, wave and solar PV. The results of this project can ultimately lead towards the improvement of existing rules and methods in system planning...

  11. Effects of economic interactions on credit risk

    International Nuclear Information System (INIS)

    Hatchett, J P L; Kuehn, R

    2006-01-01

    We study a credit-risk model which captures effects of economic interactions on a firm's default probability. Economic interactions are represented as a functionally defined graph, and the existence of both cooperative and competitive business relations is taken into account. We provide an analytic solution of the model in a limit where the number of business relations of each company is large, but the overall fraction of the economy with which a given company interacts may be small. While the effects of economic interactions are relatively weak in typical (most probable) scenarios, they are pronounced in situations of economic stress, and thus lead to a substantial fattening of the tails of loss distributions in large loan portfolios. This manifests itself in a pronounced enhancement of the value at risk computed for interacting economies in comparison with their non-interacting counterparts

  12. Cooperative credit systems: defence of the model

    Directory of Open Access Journals (Sweden)

    Roxana Sánchez Boza

    2015-11-01

    Full Text Available This study analyses the role carried out by saving and credit cooperatives in Central America where they have gained momentum, mainly in the past ten years. Cooperatives of this type are called financial intermediation cooperatives due to the influence of various legislative regulations that have placed them in the context of international control, the type of economic activity they perform and the fact that they make profits from both public and private international entities which enable their growth.Many of these organisations can be commended. They are highly competitive on financial markets and strive to extend their profits to increasingly larger parts of the population while also searching for new products to benefit the sector of the population that has chosen the cooperative model as a means to progress in a sphere of equity and respect for the rights of their fellow men.Received: 31.05.2015Accepted: 17.07.2015

  13. Financing renewable energies through MicroCredit

    Energy Technology Data Exchange (ETDEWEB)

    Wimmer, N. [Terra One World Network, Vaterstetten (Germany)

    1999-07-01

    The environment, which led to the creation of the Grameen Bank was: no access to credit for the poor in rural Bangladesh. The environment, which led to the creation of Grameen Shakti was: no access to electricity and renewable energies. Through the experience of Grameen, we see the poor differently: they are good business partners, open to modern technology, they can and must be integrated into the economy. Microcredit not only creates purchasing. Power, but acceptance of new ideas and technologies. Microcredit is a catalyst for change. Our challenge is to create an environment which allows change to take place. To create an environment which finances sustainable development. Sustainable development is everybody's business. (orig./RHM)

  14. Funding pharmaceutical innovation through direct tax credits.

    Science.gov (United States)

    Lybecker, Kristina M; Freeman, Robert A

    2007-07-01

    Rising pharmaceutical prices, increasing demand for more effective innovative drugs and growing public outrage have heightened criticism of the pharmaceutical industry. The public debate has focused on drug prices and access. As a consequence, the patent system is being reexamined as an efficient mechanism for encouraging pharmaceutical innovation and drug development. We propose an alternative to the existing patent system, instead rewarding the innovating firm with direct tax credits in exchange for marginal cost pricing. This concept is based on the fundamental assumption that innovation that benefits society at large may be financed publicly. As an industry which produces a social good characterized by high fixed costs, high information and regulatory costs, and relatively low marginal costs of production, pharmaceuticals are well-suited to such a mechanism. Under this proposal, drug prices fall, consumer surplus increases, access is enhanced, and the incentives to innovate are preserved.

  15. Identity and privacy. Unique in the shopping mall: on the reidentifiability of credit card metadata.

    Science.gov (United States)

    de Montjoye, Yves-Alexandre; Radaelli, Laura; Singh, Vivek Kumar; Pentland, Alex Sandy

    2015-01-30

    Large-scale data sets of human behavior have the potential to fundamentally transform the way we fight diseases, design cities, or perform research. Metadata, however, contain sensitive information. Understanding the privacy of these data sets is key to their broad use and, ultimately, their impact. We study 3 months of credit card records for 1.1 million people and show that four spatiotemporal points are enough to uniquely reidentify 90% of individuals. We show that knowing the price of a transaction increases the risk of reidentification by 22%, on average. Finally, we show that even data sets that provide coarse information at any or all of the dimensions provide little anonymity and that women are more reidentifiable than men in credit card metadata. Copyright © 2015, American Association for the Advancement of Science.

  16. Credit Card Blues: The Middle Class and the Hidden Costs of Easy Credit.

    Science.gov (United States)

    Hodson, Randy; Dwyer, Rachel; Neilson, Lisa

    2014-01-01

    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.

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

    Science.gov (United States)

    Albee, A

    1996-10-01

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

  18. Value of big data to finance: observations on an internet credit Service Company in China

    OpenAIRE

    Zhang, Shaofeng; Xiong, Wei; Ni, Wancheng; Li, Xin

    2015-01-01

    Background: his paper presents a case study on 100Credit, an Internet credit service provider in China. 100Credit began as an IT company specializing in e-commerce recommendation before getting into the credit rating business. The company makes use of Big Data on multiple aspects of individuals' online activities to infer their potential credit risk. Methods: Based on 100Credit's business practices, this paper summarizes four aspects related to the value of Big Data in Internet credit service...

  19. Health insurance tax credits, the earned income tax credit, and health insurance coverage of single mothers.

    Science.gov (United States)

    Cebi, Merve; Woodbury, Stephen A

    2014-05-01

    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.

  20. Study on the Impact of the Private Credit Excess on the Credit Risk under the Massive Capital Inflows Risk under the Massive Capital Inflows

    Directory of Open Access Journals (Sweden)

    Jong-Hee Kim

    2016-09-01

    Full Text Available By examining the relationship between private credit growth and the possibility of credit risk while focusing on international capital in 21 countries over the period 2000:1Q-2015:2Q, this paper shows that the impact of private credit growth on credit risk is apparent under the high ratio of capital inflows, and its impact on credit risk in the seven Asian countries is even stronger. And the possibility of credit risk caused by private credit is mainly coming from portfolio inflows rather than direct inflows. Finally, portfolio inflows strengthen the positive relationship between credit excess and credit risk in Asian countries, and this trend is seen more in these after the global financial crisis. Taken together, the stronger positive relationship between credit excess and credit risk can be strengthen under the massive portfolio inflows in particular in the seven Asian countries such as Hong Kong, India, Indonesia, Korea, Malaysia, Singapore, and Thailand.