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O crédito malparado e o sobreendividamento das famílias na região autónoma da Madeira

Gomes, Marília Sibila Abreu
Fonte: Instituto Politécnico de Lisboa Publicador: Instituto Politécnico de Lisboa
Tipo: Dissertação de Mestrado
Publicado em /12/2011 Português
Relevância na Pesquisa
26.63%
Mestrado em Contabilidade e Gestão das Instituições Financeiras; A concessão de crédito é uma das funções das instituições financeiras. Estas colocam à disposição dos agentes económicos os recursos financeiros de que estes necessitam para colmatar as suas necessidades financeiras. Nesta relação, os agentes económicos devem utilizar o crédito concedido para rentabilizar as suas actividades de modo a cumprir com as obrigações a ele inerentes; por seu lado, os bancos procuram rentabilizar as suas aplicações financeiras aumentando desse modo a sua capacidade de concessão de novos créditos. Quando a economia entra em depressão, os particulares em situação mais crítica começam a ter dificuldade em pagar os empréstimos contraídos. Esta situação poderá dar origem ao crédito malparado e ao sobreendividamento. Estes problemas actuais na sociedade portuguesa têm levado a preocupações cada vez maiores na determinação da probabilidade de incumprimento estimada pelos bancos e na procura de soluções junto a organizações de apoio ao consumidor. Em suma, este estudo pretende concretizar uma análise do crédito malparado e do sobreendividamento em Portugal, especificamente para a Região Autónoma da Madeira...

A China no Séc. XXI : a evolução do sistema bancário e o futuro das reformas económicas

Dias, Margarida Maria Pinheiro Godinho
Fonte: Instituto Superior de Economia e Gestão Publicador: Instituto Superior de Economia e Gestão
Tipo: Dissertação de Mestrado
Publicado em /03/2004 Português
Relevância na Pesquisa
36.47%
Mestrado em Desenvolvimento e Cooperação Internacional; As reformas económicas na China realizadas, depois de 1978, por Deng Xiaoping deram origem a um crescimento impressionante, no maior país do mundo em transição para uma economia de mercado. Embora a China tenha evitado o colapso cambial durante a crise asiática de 1997 (em parte, devido à não convertibilidade total do renminbi), o seu sector bancário é muito frágil, uma vez que os maiores bancos estatais – “The Big Four”- estão descapitalizados e detêm uma enorme percentagem de créditos irrecuperáveis nos seus balanços. Durante o período da reforma, a fragilidade financeira foi aumentando devido à evolução de relações triangulares entre o sistema fiscal, as empresas estatais e os bancos estatais que tinham por hábito conceder créditos de acordo com o Plano de Crédito imposto pelo governo. Para reduzir a crise financeira e tentar construir um sistema bancário sólido, o governo chinês introduziu um conjunto de medidas que incluíam melhoramentos na supervisão financeira e na regulamentação, recapitalização dos bancos estatais e criação de quatro AMCs (Companhias de gestão de activos) para gerir e reduzir o crédito malparado. Mas esta política não teve sucesso...

Liability Structure in Small-scale Finance : Evidence from a Natural Experiment

Carpena, Fenella; Cole, Shawn; Shapiro, Jeremy; Zia, Bilal
Fonte: Banco Mundial Publicador: Banco Mundial
Português
Relevância na Pesquisa
26.47%
Microfinance, the provision of small individual and business loans, has witnessed dramatic growth, reaching over 150 million borrowers worldwide. Much of its success has been attributed to overcoming the challenges of information asymmetries in uncollateralized lending. Yet, very little is known about the optimal contract structure of such loans -- there is substantial variation across lenders, even within a particular setting. This paper exploits a plausibly exogenous change in the liability structure offered by a microfinance program in India, which shifted from individual to group liability lending. The analysis finds compelling evidence that contract structure matters: for the same borrower, required monthly loan installments are 6 percent less likely to be missed under the group liability setting, relative to individual liability. In addition, compulsory savings deposits are 19 percent less likely to be missed under group liability contracts.

Mortgage Lending in Korea : An Example of a Countercyclical Macroprudential Approach

Chang, Soon-taek
Fonte: Banco Mundial Publicador: Banco Mundial
Português
Relevância na Pesquisa
26.55%
Regulatory regimes are actively discussing macroprudential policy. Korea pursued a countercyclical macroprudential approach to prevent the overheating of mortgage lending and to minimize the risk of loan default. The Korean financial supervisory authority made adjustments in response to both the condition of the housing market and trends in mortgage loans. The lessons learned from the Korean experience are applicable to other situations. First, regulations regarding loan-to-value and debt-to-income ratios and other restrictions on mortgage lending can be employed as an important part of a countercyclical framework. Next, measures need to be applied in a timely manner and according to the specific conditions of each country. Finally, authorities should preemptively prepare macroprudential instruments before banks enter a period of rapid mortgage lending to avoid reckless mortgage lending operations and weaken any speculative motive in the housing market.

The Macedonian Gambit : Enterprise cum Bank Restructuring

Pernia, Joseph; Ramachandran, S.
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Português
Relevância na Pesquisa
36.25%
The former Yugoslav Republic of Macedonia, supported by a World Bank policy-based loan, is trying a new approach to reform its enterprises. Enterprises will still be privatized as soon as possible, but the government frankly acknowledges that a few enterprises have considerable clout and must be subsidized for political, not economic reasons. These politically powerful enterprises are isolated from vulnerable banks, but given a direct subsidy in exchange for undertaking monitorable reforms. In exchange for the subsidies, the politically powerful enterprises have to end value-subtracting activities, break off their relations with banks, and immediately take steps to liquidate or privatize constituent units at a pace determined by the cabinet, where political tradeoffs are best made. Freezing the debts of the political enterprises frees banks from the pressure to make more bad loans. So far this isolation technique shows signs of success, and it could usefully be adapted by other transforming economies.

Loan Loss Provisioning and Economic Slowdowns : Too Much, Too Late?

Laeven, Luc; Majnoni, Giovanni
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Português
Relevância na Pesquisa
36.36%
Only recently has the debate on bank capital regulation devoted specific attention to the role that bank loan loss provisions can play as part of a minimum capital regulatory framework. Several national regulators have adopted or are planning to introduce a cyclically adjustable requirement for loan loss provisions, and the Basel Committee on Banking Supervision is considering how to provide adequate treatment to provisioning practices within a broad bank capital regulatory framework. The authors contribute to the ongoing debate by exploring the available evidence about bank provisioning practices around the world. They find that in the vast majority of cases banks tend to delay provisioning for bad loans until it is too late-when cyclical downturns have already set in-possibly magnifying the impact of the economic cycle on the income and capital of banks. Notwithstanding the considerable variation in the patterns followed by banks around the world, Laeven and Majnoni find that the size and timing of provisions tend to improve with the level of economic development.

The Use of Asset Management Companies in the Resolution of Banking Crises

Klingebiel, Daniela
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Trabalho em Andamento
Português
Relevância na Pesquisa
26.61%
Asset management companies have been used to address the overhang of bad debt in the financial system. There are two main types of asset management company: those set up to expedite corporate restructuring and those established for rapid disposal of assets. A review of seven asset management companies reveals a mixed record. In two of three cases, asset management companies for corporate restructuring did not achieve their narrow goal of expediting bank or corporate restructuring, suggesting that they are not good vehicles for expediting corporate restructuring. Only a Swedish asset management company successfully managed its portfolio, acting sometimes as lead agent in restructuring - and helped by the fact that the assets acquired had mostly to do with real estate, not manufacturing, which is harder to restructure, and represented a small fraction of the banking systems assets, which made it easier for the company to remain independent of political pressures and to sell assets back to the private sector. Asset management companies used to dispose of assets rapidly fared somewhat better. Two of four agencies (in Spain and the United States) achieved their objectives...

Dealing with Bad Loans of the Chinese Banks

Huang, Yiping
Fonte: Universidade Nacional da Austrália Publicador: Universidade Nacional da Austrália
Tipo: Working/Technical Paper Formato: 16305 bytes; application/pdf
Português
Relevância na Pesquisa
66.64%
China was the only major economy in East Asia that not only averted a currency crisis but also sustained relatively strong growth. This was largely attributable to its macroeconomic strengths when the crisis began, including sizeable current account surpluses, dominance of foreign direct investment in capital inflows, large foreign exchange reserves and control of the capital account. There are widespread signs, however, indicating that China’s banking sector is fragile. Such banks are not sustainable even in an autarchic economy, let alone that opening up of capital market is inevitable in the perceivable future. The first step of building a strong banking system is to deal with the bad loans.

Credit channel and risk-based capital adequacy requirements

Suzuki, Tomoya
Fonte: Universidade Nacional da Austrália Publicador: Universidade Nacional da Austrália
Tipo: Working/Technical Paper Formato: 272396 bytes; 350 bytes; application/pdf; application/octet-stream
Português
Relevância na Pesquisa
26.56%
Introduction: Importance of bank lending in the propagation of exogenous shocks has been recognised in the literature. Such views are collectively called the credit view. The credit view is that a negative shock, e.g. a monetary tightening, restricts the availability of credit to borrowers, thereby affecting the real economy. The credit view consists of two different views, namely the “bank-lending view” and the “balance sheet view”. According to the “bank-lending view” banks cut back on lending in the wake of tight money because they have less money to lend, even though there are good loans to be made. On the other hand, the balance sheet view implies that banks cut back on lending in the wake of tight money because borrowers are in bad shape. Thus the two views have different implications. Nevertheless, both the views imply that a monetary tightening shifts the supply schedule of bank loans left, thereby affecting the real economy. This transmission mechanism of monetary policy is called the credit channel. The quantitative importance of the credit channel may be dependent on institutional characteristics of the financial market. If banks can substitute from deposits to less reserve-intensive forms of finance...

The Ministry of Finance and the disclosure of bad debts in Japan: A model

Eto, Takaharu
Fonte: Universidade Nacional da Austrália Publicador: Universidade Nacional da Austrália
Tipo: Working/Technical Paper Formato: 446083 bytes; 350 bytes; application/pdf; application/octet-stream
Português
Relevância na Pesquisa
56.77%
The reluctance of The Ministry of Finance (MOF) to disclose non-performing loans in the banking industry caused a delay in its rescue operations and, as a result, exacerbated the financial crisis in Japan in the 1990s. This paper attempts to answer the question of why the MOF balked at disclosing the bad loan problem. We focus on the reputation concern of the MOF, and develop a model which explores factors that prevented the MOF from truth-telling. The model predicts that the reputation effect might be high in booms and low in recessions. Indeed, the MOF was beginning to announce the amount of bad loans after the economy had entered a recession. The model also enables us to assess the recent development of the Japanese financial system from the perspective of reputation effects.; no

The Cost of Banking Regulation

GUISO, Luigi; SAPIENZA, Paola; ZINGALES, Luigi
Fonte: European University Institute Publicador: European University Institute
Tipo: Trabalho em Andamento Formato: application/pdf; digital
Português
Relevância na Pesquisa
26.64%
We use exogenous variation in the degree of restrictions to bank competition across Italian provinces to study both the effects of bank regulation and the impact of deregulation. We find that where entry was more restricted the cost of credit was higher and - contrary to expectations - access to credit lower. The only benefit of these restrictions was a lower proportion of bad loans. Liberalization brings a reduction in rate spreads and an increased access to credit at the cost of an increase in bad loans. In provinces where restrictions to bank competition were most severe, the proportion of bad loans after deregulation raises above the level present in more competitive markets, suggesting that the pre-existing conditions severely impact the effect of liberalizations.

Living and Dying with Hard Pegs : The Rise and Fall of Argentina's Currency Board

De la Torre, Augusto; Levy Yeyati, Eduardo; Schmukler, Sergio L.
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Policy Research Working Paper; Publications & Research
Português
Relevância na Pesquisa
36.44%
The rise and fall of Argentina's currency board shows the extent to which the advantages of hard pegs have been overstated. The currency board did provide nominal stability and boosted financial intermediation, at the cost of endogenous financial dollarization, but did not foster monetary or fiscal discipline. The failure to adequately address the currency-growth-debt trap into which Argentina fell at the end of the 1990s precipitated a run on the currency and the banks, followed by the abandonment of the currency board and a sovereign debt default. The crisis can be best interpreted as a bad outcome of a high-stakes strategy to overcome a weak currency problem. To increase the credibility of the hard peg, the government raised its exit costs, which deepened the crisis once exit could no longer be avoided. But some alternative exit strategies would have been less destructive than the one adopted.

Banking in Developing Countries in the 1990s

Hanson, James A.
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Policy Research Working Paper; Publications & Research
Português
Relevância na Pesquisa
36.43%
During the 1990s commercial bank deposits and capital rose relative to GDP in the major developing countries. This rise largely reflected the dramatic fall in inflation of the 1990s and financial liberalization. But much of this growth in banks' loanable funds was absorbed by increased net holdings of central bank debt and of government debt. Much of the rise in government debt reflected post-crisis restructurings, notably in Brazil, Indonesia, and Mexico, but rising deficits also played a role. Bank intermediation between depositors and private sector borrowers remained limited in many countries despite financial liberalization. The post-crisis restructurings raise two important issues: the poor performance of loans that was revealed by the crises and the future crowding-out that will result from the spreading-out of the cost of the crisis over time and the inability to retire the restructuring-related debt. The absorption of deposits in nonprivate sector credit, the growth of offshore finance of the private sector...

The Effect of International Monetary Fund and World Bank Programs on Poverty

Easterly, William
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Policy Research Working Paper; Publications & Research
Português
Relevância na Pesquisa
26.5%
Structural adjustment - as measured by the number of adjustment loans from the IMF, and the World Bank - reduces the growth elasticity of poverty reduction. The author finds no evidence for structural adjustment having a direct effect on growth. The poor benefit less from output expansion in countries with many adjustment loans, than they do in countries with few such loans. By the same token, the poor suffer less from an output contraction in countries with many adjustment loans, than in countries with few. Why would this be? One hypothesis is that adjustment lending is counter-cyclical, in ways that smooth consumption for the poor. There is evidence that some policy variables under adjustment lending are counter-cyclical, but no evidence that the cyclical component of those policy variables affects poverty. The author speculates that the poor may be ill placed to take advantage of new opportunities, created by structural adjustment reforms, just as they may suffer less from the loss of old opportunities in sectors that were artificially protected before reform. Poverty's lower sensitivity to growth under adjustment lending...

Economic Information and Finance : More Information Means More Credit, Fewer Bad Loans, and Less Corruption

Islam, Roumeen
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Policy Research Working Paper; Publications & Research
Português
Relevância na Pesquisa
46.43%
This paper builds on recent work that shows how financial sector outcomes are affected by the provision of information by financial and other entities. In particular, it shows that an indicator of economic transparency is positively related to higher levels of private credit and a lower share of nonperforming loans even after accounting for factors commonly believed to influence financial sector development in cross-country empirical estimation. Timely access to economic data allows investors to make better decisions on investments and to better monitor banks' financial health. Greater economic transparency raises accountability and lowers corruption in bank lending.

Bank Regulation and Supervision around the World : A Crisis Update

Čihák, Martin; Demirgüç-Kunt, Aslı; Pería, María Soledad Martinez; Mohseni-Cheraghlou, Amin
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Policy Research Working Paper; Publications & Research
Português
Relevância na Pesquisa
36.25%
This paper presents the latest update of the World Bank Bank Regulation and Supervision Survey, and explores two questions. First, were there significant differences in regulation and supervision between crisis and non-crisis countries? Second, what aspects of regulation and supervision changed significantly during the crisis period? The paper finds significant differences between crisis and non-crisis countries in several aspects of regulation and supervision. In particular, crisis countries (a) had less stringent definitions of capital and lower actual capital ratios, (b) faced fewer restrictions on non-bank activities, (c) were less strict in the regulatory treatment of bad loans and loan losses, and (d) had weaker incentives for the private sector to monitor banks' risks. Survey results also suggest that the overall regulatory response to the crisis has been slow, and there is room to improve regulation and supervision, as well as private incentives to monitor risk-taking. Specifically, comparing regulatory and supervisory practices before and after the global crisis...

Home High Above and Home Deep Down Below : Lending in Hungary

Banai, Adam; Kiraly, Julia; Nagy, Marton
Fonte: Banco Mundial Publicador: Banco Mundial
Tipo: Publications & Research :: Policy Research Working Paper
Português
Relevância na Pesquisa
26.59%
In Hungary in the pre-crisis period, the bank sector-initiated private credit boom significantly contributed to the accumulation of economic imbalances. Nevertheless, before the 2008 crisis no special regulatory measure was taken to mitigate the foreign exchange lending to unhedged borrowers, which was a main moving force of the credit boom. Depreciation of forint-denominated subsidized housing loans and the increased risk premium significantly deteriorated customers' positions and resulted in rocketing nonperforming loans. A recession, deteriorating portfolios, and lack of efficient workout. The introduction of strict regulation froze banking activity and the danger of recovery without lending emerged. This paper compares the pre- and post-crisis lending activity and analyzes the lack of regulation in the pre-crisis period and the inefficient regulation in the post-crisis period.

Microcredit Interest Rates and Their Determinants, 2004-2011

Rosenberg, Richard; Gaul, Scott; Ford, William; Tomilova, Olga
Fonte: CGAP, Washington, DC Publicador: CGAP, Washington, DC
Tipo: Publications & Research :: Working Paper; Publications & Research
Português
Relevância na Pesquisa
26.55%
From the beginning of modern microcredit, its most controversial dimension has been the interest rates charged by micro lenders, often referred to as microfinance institutions (MFIs). These rates are higher, often much higher, than normal bank rates, mainly because it inevitably costs more to lend and collect a given amount through thousands of tiny loans than to lend and collect the same amount in a few large loans. Higher administrative costs have to be covered by higher interest rates. Many people worry that poor borrowers are being exploited by excessive interest rates, given that those borrowers have little bargaining power, and that an ever-larger proportion of microcredit is moving into for-profit organizations where higher interest rates could, as the story goes, mean higher returns for the shareholders. Section one looks at the level and trend of micro lenders' interest rates worldwide, and breaks them out among different types of institutions (peer groups). Section two examines the cost of funds that micro lenders borrow to fund their loan portfolio. Section three reports on loan losses...

Do Banks Provision for Bad Loans in Good Times? Empirical Evidence and Policy Implications

Cavallo, Michele; Majnoni, Giovanni
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Policy Research Working Paper; Publications & Research
Português
Relevância na Pesquisa
46.44%
Recent debate about the pro-cyclical effects of bank capital requirements, has ignored the important role that bank loan loss provisions play in the overall framework of minimum capital regulation. It is frequently observed that under-provisioning, due to inadequate assessment of expected credit losses, aggravates the negative effect of minimum capital requirements during recessions, because capital must absorb both expected, and unexpected losses. Moreover, when expected losses are properly reflected in lending rates, but not in provisioning practices, fluctuations in bank earnings magnify true oscillations in bank profitability. The relative agency problems faced by different stakeholders, may help explain the prevailing, and often unsatisfactory institutional arrangements. The authors test their hypotheses with a sample of 1,176 large commercial banks - 372 of them in non-G10 countries - for the period 1988-99. After controlling for different country-specific macroeconomic, and institutional features...

Banks, firms, bad debts and bankruptcy in Hungary 1991-4

Bonin, J. P.; Schaffer, M. E.
Fonte: Centre for Economic Performance, London School of Economics and Political Science Publicador: Centre for Economic Performance, London School of Economics and Political Science
Tipo: Monograph; NonPeerReviewed Formato: application/pdf
Publicado em /04/1995 Português
Relevância na Pesquisa
26.53%
The paper examines Hungary''s experience with banking and bankruptcy reform in the period 1992-94. The first part of the paper uses enterprise-level data to show that in 1992, the same year in which the amount of classified loans in the state-owned commercial banks grew enormously, the proportion of total bank credit held by highly-unprofitable firms hardly changed. The inference from this is that the rapid growth of bad debt in 1992 was not the result of a "flow problem" (new bad lending) but rather represented the emergence of an inherited "stock problem" (pre-existing loans to inherited troubled clients). The paper then considers Hungary''s 1992 bankruptcy reform, and in particular the novel "automatic trigger" which required firms to file for bankruptcy if they had a payable of any size, owed to anybody, overdue 90 days or more. The paper argues that the bankruptcy experiment was flawed on two counts. First, one of the key motivations for introducing the automatic trigger - a perceived problem with financial discipline and with interenterprise credit in particular - was largely unfounded. Second, the automatic trigger experiment was costly because the impact on firms which were forced to file for bankruptcy led to chains of disrupted trade relations which rippled through the economy. Evidence from a 1994 survey of 200 manufacturing firms shows that a majority of the surveyed firms had been involved in bankruptcies as creditors...