The Character Of Credit
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The Character Of Credit
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Author : Margot C. Finn
language : en
Publisher: Cambridge University Press
Release Date : 2003-08-21
The Character Of Credit written by Margot C. Finn and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-08-21 with Business & Economics categories.
Table of contents
Bank Loans On Statement And Character
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Author : Mahlon Dickinson Miller
language : en
Publisher:
Release Date : 1927
Bank Loans On Statement And Character written by Mahlon Dickinson Miller and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1927 with Banks and banking categories.
Fundamentals Of Credit And Credit Analysis
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Author : Arnold Ziegel
language : en
Publisher: Createspace Independent Publishing Platform
Release Date : 2015-01-14
Fundamentals Of Credit And Credit Analysis written by Arnold Ziegel and has been published by Createspace Independent Publishing Platform this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-01-14 with categories.
Arnold Ziegel formed Mountain Mentors Associates after his retirement from a corporate banking career of more than 30 years at Citibank. The lessons learned from his experience in dealing with entrepreneurs, multinational corporations, highly leveraged companies, financial institutions, and structured finance, led to the development and delivery of numerous senior level credit risk training programs for major global financial institutions from 2002 through the present. This book was conceived and written as a result of the development of these courses and his experience as a corporate banker. It illustrates the fundamental issues of credit and credit analysis in a manner that tries to take away its mystery. The overriding theme of this book is that when an investor extends credit of any type, the goal is "to get your money back", and with a return that is commensurate with the risk. The goal of credit analysis is not to make "yes or no" decisions about the extension of credit, but to identify the degree of risk associated with a particular obligor or a particular credit instrument. This is consistent with modern banking industry portfolio management and the rating systems of credit agencies. Once the "riskiness" of an obligor or credit instrument is established, it can be priced or structured to match the risk demands or investment criteria of the entity that is extending the credit. A simple quote from Mr. J. P. Morgan is used often in this text - "Lending is not based primarily on money or property. No sir, the first thing is character". This statement represents one of the conflicts in modern credit analysis - that of models for decision making versus traditional credit analysis. The 2008 financial crisis was rooted in the mortgage backed securities business. Sophisticated models were used by investors, banks, and rating agencies to judge the credit worthiness of billions (and maybe trillions) of dollars worth of residential mortgage loans that were packaged into securities and distributed to investors. The models indicated that these securities would have very low losses. Of course, huge losses were incurred. Mr. Morgan had a good point. In this case is was both property and character. The properties that were the collateral for many of the mortgages had much less value than was anticipated. The valuation of the collateral was na�ve and flawed. Many assumptions were made that the value of homes would rise without pause. Many mortgage loans were made that were at or even above the appraised value of a residence.But character was a huge, perhaps larger, factor behind these losses. Many of the residential mortgage loans were made to individuals who knew that they did not have the income to make the required payments on the mortgages. Many of the mortgage brokers and lenders who made these loans also knew that many of the borrowers were not properly qualified. And, many of the bankers who securitized these loans also may have doubted the credit quality of some of the underlying mortgages. If bankers and rating agencies understood the extent of the fraud and lax standards in the fundamental loans backing the mortgage securities, or were willing to acknowledge it, the fiasco would not have occurred.
Mercantile Credits
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Author : Finley H. McAdow
language : en
Publisher:
Release Date : 1922
Mercantile Credits written by Finley H. McAdow and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1922 with Credit categories.
Capacity Twin Sister To Character In The Four Big C S
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Author : William Post
language : en
Publisher:
Release Date : 1923
Capacity Twin Sister To Character In The Four Big C S written by William Post and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1923 with Ability categories.
Genres Of The Credit Economy
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Author : Mary Poovey
language : en
Publisher: University of Chicago Press
Release Date : 2008-04
Genres Of The Credit Economy written by Mary Poovey and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-04 with Business & Economics categories.
Banking, borrowing, investing, and even losing money - in other words, participating in the modern financial system - seem like routine activities of everyday life. This book looks at how this came to be the case by examining the history of financial instruments and representations of finance in 18th and 19th century Britain.
Credit And Its Uses
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Author : William Ambrose Prendergast
language : en
Publisher:
Release Date : 1922
Credit And Its Uses written by William Ambrose Prendergast and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1922 with Credit categories.
Commercial Paper Acceptances And The Analysis Of Credit Statements
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Author : William Henry Kniffin
language : en
Publisher: Forgotten Books
Release Date : 2015-06-16
Commercial Paper Acceptances And The Analysis Of Credit Statements written by William Henry Kniffin and has been published by Forgotten Books this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-06-16 with Business & Economics categories.
Excerpt from Commercial Paper, Acceptances and the Analysis of Credit Statements In my recent work, "The Practical Work of a Bank," the subject of Credit is exhaustively treated, but with particular reference to the fundamentals of credit as applied to any credit risk. The present work has been prepared at the request of my publishers for a simple, concise work on the subject of Commercial Paper, that would not impair the value of the other work, to which the reader is referred for more extended treatment of many phases of credit, collateral to the present subject. To attempt to treat these herein would be a restatement of what has already appeared from the same authorship. Inasmuch as Commercial Paper now forms one of the principal assets of the banks of this country, and the credit risk must be ascertained by analytical processes that differ from those employed where the borrower is personally known to the lender, I have attempted in a limited scope to outline the basic processes by which the worth of Commercial Paper may be determined. While much has been written concerning Credit, to my knowledge no work has yet appeared that attempts to apply abstract principles to concrete cases, and I have therefore, after giving a brief treatment of the subject of Credit and Commercial Paper, devoted the remainder of the work to the analysis of actual statements submitted by brokers. It must be assumed that in every case the credit seeker complies with the rules laid down in the other work mentioned as to character and capacity, this work being devoted solely to an impartial and impersonal review of cold facts submitted, from which we attempt to form a conclusion as to the ability of the maker of the paper to meet it at maturity. The figures are actual transcripts, with names, places and dates changed for obvious reasons, thereby giving actual conditions for our consideration. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
Land And Credit
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Author : Chris Briggs
language : en
Publisher: Springer
Release Date : 2018-02-27
Land And Credit written by Chris Briggs and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-02-27 with Business & Economics categories.
This volume investigates the use of mortgages in the European countryside between the thirteenth and eighteenth centuries. A mortgage allowed a loan to be secured with land or other property, and the practice has been linked to the transformation of the agrarian economy that paved the way for modern economic growth. Historians have viewed the mortgage both positively and negatively: on the one hand, it provided borrowers with opportunities for investment in agriculture; but equally, it exposed them to the risk of losing their mortgaged property. The case studies presented in this volume reveal the variety of forms that the mortgage took, and show how an intricate balance was struck between the interests of the borrower looking for funds, and those of the lender looking for security. It is argued that the character of mortgage law, and the nature of rights in land in operation in any given the place and period, determined the degree to which mortgages were employed. Over time, developments in these factors allowed increasing numbers of peasants to use mortgages more freely, and with a decreasing risk of expropriation. This volume will be appealing to academics and researchers interested in financial history, rural credit and debt, and the economic history of agrarian communities.
A Culture Of Credit
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Author : Rowena OLEGARIO
language : en
Publisher: Harvard University Press
Release Date : 2009-06-30
A Culture Of Credit written by Rowena OLEGARIO and has been published by Harvard University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-06-30 with Business & Economics categories.
In the growing and dynamic economy of nineteenth-century America, businesses sold vast quantities of goods to one another, mostly on credit. This book explains how business people solved the problem of whom to trust--how they determined who was deserving of credit, and for how much. Rowena Olegario traces the way resistance, mutual suspicion, skepticism, and legal challenges were overcome in the relentless quest to make information on business borrowers more accurate and available.