我国商业银行个人住房贷款的风险及防范外文文献及翻译

我国商业银行个人住房抵押贷款风险及防范措施论文我国商业银行个人住房抵押贷款风险及防范措施摘要：个人住房抵押贷款是商业银行的主要贷款业务之一，也是个人购房和投资的主要融资方式之一。

然而，个人住房抵押贷款存在一定的风险，如房产市场波动、借款人信用风险等。

为了保护商业银行的资产安全和促进个人住房市场的稳定发展，商业银行需采取一系列防范措施，例如完善风险评估机制、建立合理的利率及还款水平、制定有效的风险管理措施等，以减少和控制个人住房抵押贷款风险，提高个人住房抵押贷款的安全性和可持续发展性。

关键词：商业银行、个人住房抵押贷款、风险、防范措施一、引言个人住房抵押贷款作为商业银行的主要贷款业务，其发展对于个人住房市场的稳定与发展具有重要意义。

然而，个人住房抵押贷款存在一定的风险，如房产市场波动、借款人信用风险等。

为了保护商业银行的资产安全和维护个人住房市场的稳定发展，商业银行需采取一系列的防范措施来降低个人住房抵押贷款的风险。

本文将从个人住房抵押贷款的风险出发，论述商业银行应采取的防范措施。

二、个人住房抵押贷款的风险1. 房产市场波动风险。

房产市场的价格波动对个人住房抵押贷款风险具有重要影响。

当房产市场价格下跌时，抵押物价值可能降低，导致借款人无法偿还贷款，进而造成商业银行资产损失。

2. 借款人信用风险。

个人住房抵押贷款的风险还包括借款人信用风险。

借款人的还款能力、还款意愿以及对房产抵押物的保护情况都会对商业银行产生风险，特别是在借款人失业、经济不景气等不确定因素下。

3. 利率风险。

个人住房抵押贷款一般都以固定利率形式提供，而商业银行所面临的利率是浮动的。

由于利率的波动，商业银行可能会面临利差压缩、信用风险等各种风险。

三、防范措施1. 完善风险评估机制。

商业银行需要建立健全的风险评估机制，对个人住房抵押贷款的风险进行科学、客观的评估。

通过综合评估借款人的信用状况、还款能力、抵押物价值等因素，准确判断风险，制定相应的措施。

不良贷款管理中英文对照外文翻译文献不良贷款管理中英文对照外文翻译文献(文档含英文原文和中文翻译)Non-performing Loans Management and RecoveryWilliam J. Bauman and Alan S. BlinderAbstractWith the deepening of China's economic system reform development and continuous improvement of the system of the market economy, banks ' lending business becomes completely open to individuals, personal loans of business growing, continues to expand the scope of business, especially the development of individual housing loan more quickly. Personal housing loan business in China at the time of its development, there are bad credit risks as well as the competitive situation is not optimistic, to a certain extent, hamper the development of individual housing loans, to sustainable development, research management must be strengthened on a number of issues. This article from the current development status of individual housing loan business to start, pointed out that because of the existing problems as well as problems and focus on how to develop personal housing loan bad credit risk reduction, foreign experiences and lessons learned, and thoughts and countermeasures for management, to promote the healthy and rapid development of the business.Key words:Housing loans to individuals; Bad credit risks; present situation; problem; Countermeasure1. IntroductionUnder the five-category loan classification, substandard, doubtful and loss loans are defined as non-performing loans.Because the reasons behind non-performing loans formation are different, credit associates must take effective measures to manage, recover and dispose of these parts of asset according to their different characteristics. The bank should first find out the responsibilities of the guarantor and dispose of the security in time. Only when they confirm that the guarantor has lost the guarantee abilities and the security is not sufficient to pay off the loan, can they begin to dispose of the non-performing loans.2. ReasonsThere are many reasons why banks have poorly performing loan portfolios. Irrespective of these causes, banks have an obligation to shareholders, depositors and creditors to maximize cash flow from assets, the most troublesome aspect of which has been the poor record of banks in recovering loans. It is this factor that has contributed the most to bank insolvency, and liquidity constraints.There are several complementary options available to banks to restructure problem loans and portfolios, including: Exercise of collateral (liens against property, inventories) through judicial or extra-judicial means.Out-of-court settlement that may focus exclusively on debt negotiation, restructuring and repayment, or lead to the financial, physical and operational restructuring of the enterprise.Bankruptcy/liquidation procedures through formal court proceedings. This may involve liquidation, reorganization or privatization of an enterprise to enforce partial or total loan repayment.(Besides the bank itself, sometimes government also leads a restructuring program to help the bank to solve the problem of NPL in order to stabilize the banking industry or the wholeeconomy, for example, Asset Management Company (AMC), a special purpose company, buys or exchanges NPL from bank and disposes of them).3. Work-Out UnitWith aggregate loan portfolios universally troubled by delinquencies and defaults, some banks have opted to develop work-out units to improve loan portfolio quality. When work-out units are established, they are usually set up to deal with most of a bank's problem loans, effectively sectioning off non-performing loans from the broader bank portfolio of performing loans. The benefits expected from work-out units include;Concentrated focus on the recovery of problem loans;More developed banking expertise and credit risk evaluation skills;Improved internal bank system (early warning systems, collateral requirements, credit information needs).Work-out units can make a significant difference in restructuring loan portfolios, particularly when supported by effective technical assistance.4.Loan Restructuring and Loan "Rollover"Case-by-case loan restructuring is common in market-oriented economies, particularlywhen borrowers are unable to meet the original terms of the loan agreement due to external factors. These restructuring invariably changes in the amount, terms and /or schedule of interest rates, principal repayment, and collateral values. Loan covenants ( ratios, report requirements) often change to facilitate compliance. In some cases, radical measures such as replacing management are involved.This approach is similar to what work-out units attempt todo: recover portions of loan portfolios which have deteriorated and are non-performing. However, workout units are often organized on the basis of sector, location or bank exposure. Case-by-case loan restructuring is conducted on an individualized basis. The benefits of individual case-by-case loan restructurings include:Reinforcement of the bank-client relationship.Retention of the loan by the bank on its balance sheet, even if provisions are made for possible losses.Preservation of the firm's relations with other parties (trade creditors, other banks, buyers, employees), thereby maintaining its reputation without embarrassing and costly bankruptcy / liquidation procedures.As with debt-equity swaps, the risk to the bank is that it is overly optimistic about prospects, and that additional resources are committed to the borrower adding to bank losses and reduced loan able funds at a future date. This has occurred frequently in transition economies (such as China, East European countries, former Soviet Union).In transition economy banks, the closest approximation to the Western loan restructuring has been the loan "rollover" which has been a common practice. Rollovers generally involve the following two techniques:Simple rollover of principal on/before the due date, with the enterprise meeting interest obligations.Rollover of principal on/before due date, with interest added b ack to the principal amount (“interest capitalization").The first technique is legitimate and rational unless the enterprise is unable to repay principal, and likely to remain impaired in the future. The second technique often reflects atroubled loan and enterprise, and has been typically practiced in transition economy banking systems. Further more, the latter technique has been accompanied by accounting treatment which mistakenly recognizes these assets as performing loans, artificially inflating income statements and balance sheet book values.5. Debt-equity Swaps and Loan Sales / Asset SwapDebt-equity swap results in bank ownership of enterprises occur with differing frequencies in different countries. In some countries, bank ownership of enterprises is common (German interlocking directorates), while in other countries it is strictly regulated (USA) or strictly prohibited (In China, debt-equity swap is done through asset management company). By swapping NPL for equity, banks can exercise more directcontrol/supervision over enterprise management while the enterprise benefits from increased debt capacity. The risk to bank is excess exposure to a risky investment which may jeopardize deposit safety and bank capital, and demand scarce management time and resources.Debt-equity swap represents nascent venture capital operation. Perhaps only one in 10 of these investments may succeed, but this should be sufficient to cover the risk of the other nine losing investment. Given existing low book values and the currently thin market that is likely to improve in the coming years, banks are prudent to allocate a small percentage of assets to enterprises they believe will generate significant profit at a later date. At that point, banks can sell their shares, and reap significant profit to bolster capital. All of this makes more sense given the current downside risk, which is limited, as most of these transactions are paper transactions that do not further impairbank liquidity.But bank equity swap may be indicative of the failure of banks in some countries to properly define bank's roles as financial intermediaries, streamline their operations, specialize in a few key areas within the limit of their current managerial and staffing capabilities, write down their assets to more accurate values, and progress toward a more stable and prudently managed system devoid of excess risk. Investment in losing enterprises raises the risk of future liquidity being drained to prop up these enterprises in the hope of eventual profitability, which puts depositors and shareholders at risk.In addition to debt-equity swaps, loan sales swaps are an option that could be used to restructure bank balance sheets. However, this option has not been commonly found in transition economy due to absence of secondary market development.6. Securitization of Non-performing LoanNon-performing loan securitization is a pooling of non-performing loans packaged and issued as securities to investors through arrangements of legal structure, cash flow, and credit rating mechanisms. Non-performing Loans are also known as bad loans, overdue loans, receivables under collection, and loans still under normal payment statuses, but with circulating bonds rated lower than CCC level. During the securitization period, the originator (seller) will select the most ideal portfolio based on a set of eligibility criteria, such as debtors' locations, credit period, currency, and overdue ratings from all available non-performing loans.After the screening process, bank will proceed with the risk assessment, cash flow simulation and credit tranche. The securities are then offered to investors after confirmation fromcredit rating agencies and regulatory approval obtained. The asset management agency is particularly important to a non-performing loan securitization since the asset management agency's expertise is instrumental to increasing collection rates of these non-performing loans. Investors' risks are minimized through credit enhancement techniques; default risks, prepayment risks, etc. are also emphasized to evaluate the risk profile of non-performing loans.7. In-court Bankruptcy / Liquidation ProceedingsResorting to legal procedures to collect the repayment of non-performing loans is the last defense line. In practice, banks should grasp the timing of litigation. Because blind lawsuits will involve banks' time, energy, money and people. In addition, they could have negative impact on the relationship between banks and their clients.Firstly, before litigation, banks should investigate the borrowers' income resources and asset categories and prevent them from hiding or transferring asset in this period of time. Banks can apply to the court for asset preservation. Secondly, banks should try best to correct the deficiencies of credit documents and win themselves advantageous conditions in litigation. Thirdly, banks should also prepare themselves for the results of reconciliation or failure.Bankruptcy/liquidation is an effective complement to out-of-cnurt approaches, and serves as a last stage of debt collection, providing creditors with control over debtors in financial distress and prompting their restructuring. For this reason, many countries (transition economies) have developed and are seeking to expand the use of formal bankruptcy to broaden the array of dispute resolution mechanisms, provide banks with long neededrecourse, and instill greater financial discipline on enterprises.8. Exercise of CollateralWhen a debt matures or is going to mature and the debtor has encountered serious operation difficulties, the debtor cannot repay the loan in cash and the guarantor cannot repay the loan in cash either. Maybe after negotiation, the two parties (the bank and the borrower) or three parties (the bank, the borrower and the guarantor) can reach a consensus. In line with the consensus or the ruling by the court, the debtor or the guarantor can make in-kind repayment of debts, which is one of the important means to dispose of non-performing loans.9. Writing-off Bad LoansIn accordance with relevant state rules and regulation, if the principal of a loan is identified as unrecoverable, the bad loan can be written off. Writing-off of bad loans is the internal activity of a bank. So the bank still enjoys the recourse right and should continue to demand the repayment of the fund.10. ConclusionWere analyzed by the non-performing loans management recycling. Bad credit risk management, there are still many problems to be solved, how the lending business in the international financial place needs to be further research and continue to explore. In short,the management of non-performing loans of China's economic development has made a significant contribution, but there are still shortcomings in their own system, the external competitive environment in the development of the personal loan there are many adverse, which requires countries to fully understand individual housing loans an important role on the basis of, for the banks internal management and external riskmanagement and reasonable planning to ongoing development. Personal loans also have to recognize their own position and where to adopt appropriate strategies and market positioning, innovation, adjustment, reform, focusing on risk management in order to more rapidly grow.ReferencesSteven Husted,Michael Melvin, International Economics [M], (the fifth edition), Higher Education Press, 2002Beck, T., Demirguc-Kunt, A., & Maksimovic, V. (2005). Financial and legal constraints to growth: Does firm size matter? The Journal of Finance, 60, 137–177.Peng, Y. (2004). Kinship networks and entrepreneurs in China's transitional economy. American Journal of Sociology, 109,1045–1074Qian, Y. (2000). The process of China’s market transition (1978–1998):The evolutionary, historical, and comparative perspectives. Journal of Institutional and Theoretical Economics, 156, 151–171.Shane, S., & Cable, D. (2002). Network ties, reputation, and the financing of new ventures. Management Science, 48, 364–381.Newton, K. (2001). Trust, social capital, civil society, and democracy.International Political Science Review, 22, 201–214.Liu, Z. (2003). The economic impact and determinants of investment in human and political capital in China. Economic Development and Cultural Change, 51, 823–850. Birner, R., & Witter, H. (2003). Using social capital to create politicalcapital. In The commons in the New Millennium: Challenges andadaptation (pp. 291–334). Cambridge and London: MIT Press.不良贷款的管理和回收威廉J鲍姆，阿伦S布林德摘要随着我国金融体系建设的进一步发展和市场体制的迅速完善，银行的贷款业务逐渐向个人完全展开，个人贷款的业务种类不断增多，业务范围持续扩大，特别是个人住房贷款业务的发展更为迅猛。

个人住房贷款风险分析与防范研究——以中国建设银行为例A STUDY ON RISK ANALYSIS AND PREVENTIONFOR PERSONAL HOUSING LOANS ——A CASE OF CHINA CONSTRUCTION BANK学校：上海交通大学学院：安泰经济与管理学院专业：工商管理（MBA）作者：操祯导师：田澎学号：1051209399班级：M0512094答辩日期：2008年1月13日个人住房贷款风险分析与防范研究——以中国建设银行为例摘 要随着国内住房体制改革和居民信贷观念的转变，个人住房贷款市场伴随着个人住房市场的迅速发展也快速成长起来，成为商业银行新的利润增长点和主要个人信贷产品。

个人住房贷款的风险防范也成为商业银行风险管理的重要内容之一。

作为国内个人住房贷款业务的领跑者，个人住房贷款业务的发展和风险防范对中国建设银行战略目标的实现意见重大。

本文通过对个人住房贷款风险及其影响因素的分析，研究商业银行个人住房贷款风险管理和防范措施，并结合中国建设银行个人住房贷款风险防范现状，提出建设银行进一步防范个人住房贷款风险、提高风险管理水平的建议。

本文首先在第二章回顾了我国个人住房市场的发展历程，并对现状进行了陈述，指出正是由于居民具有购买住房的动机，又不能或不愿意一次性付清所购住房的全部款项，个人住房贷款就有了其生存和发展的空间。

之后，本文对我国和建设银行个人住房贷款现状进行了阐述。

巴塞尔新资本协议将商业银行面临的主要风险划分为信用风险、操作风险和市场风险，本文以此为借鉴，在第三章相应地将个人住房贷款和具体债项所面对的风险也划分为信用风险和操作风险，并据以分析风险的影响因素：信用风险中，借款人违约风险的影响因素包括还款意愿和还款能力，提前还款风险的主要影响因素则是居民负债观念、再投资渠道和住房出售；操作风险的影响因素可以分为内部因素（内部流程、人员因素、系统因素）和外部因素（外部事件）。

我国商业银行个人住房贷款风险与防范【摘要】我国商业银行个人住房贷款在金融市场中扮演着重要的角色，但也面临着各种风险挑战。

个人住房贷款风险的源头包括房价波动、借款人信用状况等因素。

商业银行个人住房贷款存在的主要风险主要包括信用风险、利率风险、市场风险等。

为了有效应对这些风险，商业银行需要采取一系列风险防范策略，包括建立科学的风险评估模型、加强信贷审查及监控、制定灵活的利率调节政策等。

加强风险管理对商业银行至关重要，只有及时识别、评估和控制风险，才能有效避免贷款违约和资金亏损。

未来，我国商业银行需要进一步加强监管力度，完善风险管理机制，推动风险防范工作不断迈上新台阶。

加强风险管理意识，提升风险应对能力，将成为商业银行持续发展的关键。

【关键词】个人住房贷款风险、商业银行、风险防范、风险管理、监管、发展方向、挑战、必要性1. 引言1.1 我国商业银行个人住房贷款风险与防范在我国，随着经济的快速发展和人民生活水平的提高，越来越多的家庭选择通过商业银行的个人住房贷款来购买房屋。

个人住房贷款也伴随着一定的风险，如果不加以有效的防范和管理，将会对个人、银行和整个经济系统造成严重影响。

个人住房贷款风险的源头主要包括房价波动、贷款人信用状况不佳、借款人收入不稳定等因素。

商业银行个人住房贷款存在的主要风险包括信用风险、市场风险、操作风险和利率风险等。

为了有效防范这些风险，商业银行需要采取一系列的风险管理策略，如建立全面的风险管理框架、加强信用评估和监控、优化贷款产品设计等。

加强风险管理的必要性在于保障银行的稳健经营和客户利益，同时也有助于维护整个金融系统的稳定。

推进风险管理的措施包括加强内部控制、建立健全的风险管理体系、提高员工风险意识等。

在未来，我国商业银行个人住房贷款面临更大的挑战，加强监管与风险防范的重要性将更加突出。

未来风险防范的发展方向应该注重技术创新、信息共享和国际合作，以提升我国商业银行个人住房贷款的整体风险管理水平。

论我国商业银行个人住房贷款的风险防范一、本文概述随着我国经济的飞速发展，商业银行个人住房贷款业务已成为推动房地产市场繁荣的重要力量。

然而，在业务蓬勃发展的个人住房贷款风险也逐渐暴露出来，对个人、家庭乃至整个金融体系都构成了不容忽视的威胁。

因此，本文旨在深入探讨我国商业银行个人住房贷款的风险类型、成因及防范措施，以期为商业银行风险管理和行业健康发展提供有益参考。

文章首先对个人住房贷款的基本概念进行界定，明确研究范围。

接着，分析当前商业银行个人住房贷款面临的主要风险类型，包括信用风险、市场风险、操作风险等，并探讨风险产生的内外部原因。

在此基础上，文章将重点研究风险防范措施，包括完善风险管理制度、强化风险评估与监测、优化贷款流程与产品设计、提升风险管理水平等方面。

文章还将对商业银行个人住房贷款风险防范的未来趋势进行展望，以期为我国商业银行风险管理提供新的思路和方法。

二、我国商业银行个人住房贷款现状分析随着我国经济的持续增长和城市化进程的加快，个人住房贷款作为商业银行的一项重要业务，近年来呈现出快速增长的趋势。

个人住房贷款不仅有助于推动房地产市场的繁荣，也为广大民众提供了实现居住需求的金融支持。

然而，在个人住房贷款业务迅速发展的也存在一些不容忽视的风险和挑战。

市场规模持续扩大。

随着居民收入水平的提高和购房需求的增加，个人住房贷款的市场规模不断扩大。

商业银行为了抢占市场份额，纷纷加大个人住房贷款的投放力度。

贷款结构多元化。

目前，个人住房贷款已经不仅仅局限于传统的商业性贷款，还包括住房公积金贷款、个人住房组合贷款等多种形式。

这些多元化的贷款结构为不同需求的购房者提供了更多选择。

风险控制意识增强。

随着风险事件的频发，商业银行对于个人住房贷款的风险控制意识逐渐增强。

在贷款审批、风险管理等方面，商业银行采取了一系列措施，如加强征信体系建设、提高首付比例等，以降低潜在风险。

然而，尽管商业银行在个人住房贷款的风险控制方面取得了一定的成效，但仍存在一些问题和挑战。

商业银行风险管理中英文对照外文翻译文献(文档含英文原文和中文翻译)“RISK MANAGEMENT IN COMMERCIAL BANKS”(A CASE STUDY OF PUBLIC AND PRIVATE SECTOR BANKS) - ABSTRACT ONLY1. PREAMBLE:1.1 Risk Management:The future of banking will undoubtedly rest on risk management dynamics. Only those banks that have efficient risk management system will survive in the market in the long run. The effective management of credit risk is a critical component of comprehensive risk management essential for long-term success of a banking institution. Credit risk is the oldest and biggest risk that bank, by virtue of its very nature of business, inherits. This has however, acquired a greater significance in the recent past for various reasons. Foremost among them is the wind of economic liberalization that is blowing across the globe. India is no exception to this swing towards market driven economy. Competition from within and outside the country has intensified. This has resulted in multiplicity of risks both in number and volume resulting in volatile markets. A precursor to successful management of credit risk is a clear understanding about risks involved in lending, quantifications of risks within each item of the portfolio and reaching a conclusion as to the likely composite credit risk profile of a bank.The corner stone of credit risk management is the establishment of a framework that defines corporate priorities, loan approval process, credit risk rating system, risk-adjusted pricing system, loan-review mechanism and comprehensive reporting system.1.2 Significance of the study:The fundamental business of lending has brought trouble to individual banks and entire banking system. It is, therefore, imperative that the banks are adequate systems for credit assessment of individual projects and evaluating risk associated therewith as well as the industry as a whole. Generally, Banks in India evaluate a proposal through the traditional tools of project financing, computing maximum permissible limits, assessing management capabilities and prescribing a ceiling for an industry exposure. As banks move in to a new high powered world of financial operations and trading, with new risks, the need is felt for more sophisticated and versatile instruments for risk assessment, monitoring and controlling risk exposures. It is, therefore, time that banks managements equip themselves fully to grapple with the demands of creating tools and systems capable of assessing, monitoring and controlling risk exposures in a more scientific manner.Credit Risk, that is, default by the borrower to repay lent money, remains the most important risk to manage till date. The predominance of credit risk is even reflected in the composition of economic capital, which banks are required to keep a side for protection against various risks. According to one estimate, Credit Risk takes about 70% and 30%remaining is shared between the other two primary risks, namely Market risk (change in the market price and operational risk i.e., failure of internal controls, etc.). Quality borrowers (Tier-I borrowers) were able to access the capital market directly without going through the debt route. Hence, the credit route is now more open to lesser mortals (Tier-II borrowers).With margin levels going down, banks are unable to absorb the level of loan losses. There has been very little effort to develop a method where risks could be identified and measured. Most of the banks have developed internal rating systems for their borrowers, but there hasbeen very little study to compare such ratings with the final asset classification and also to fine-tune the rating system. Also risks peculiar to each industry are not identified and evaluated openly. Data collection is regular driven. Data on industry-wise, region-wise lending, industry-wise rehabilitated loan, can provide an insight into the future course to be adopted.Better and effective strategic credit risk management process is a better way to Manage portfolio credit risk. The process provides a framework to ensure consistency between strategy and implementation that reduces potential volatility in earnings and maximize shareholders wealth. Beyond and over riding the specifics of risk modeling issues, the challenge is moving towards improved credit risk management lies in addressing banks’readiness and openness to accept change to a more transparent system, to rapidly metamorphosing markets, to more effective and efficient ways of operating and to meet market requirements and increased answerability to stake holders.There is a need for Strategic approach to Credit Risk Management (CRM) in Indian Commercial Banks, particularly in view of;(1) Higher NPAs level in comparison with global benchmark(2) RBI’ s stipulation about dividend distribution by the banks(3) Revised NPAs level and CAR norms(4) New Basel Capital Accord (Basel –II) revolutionAccording to the study conducted by ICRA Limited, the gross NPAs as a proportion of total advances for Indian Banks was 9.40 percent for financial year 2003 and 10.60 percent for financial year 20021. The value of the gross NPAs as ratio for financial year 2003 for the global benchmark banks was as low as 2.26 percent. Net NPAs as a proportion of net advances of Indian banks was 4.33 percent for financial year 2003 and 5.39 percent for financial year 2002. As against this, the value of net NPAs ratio for financial year 2003 for the global benchmark banks was 0.37 percent. Further, it was found that, the total advances of the banking sector to the commercial and agricultural sectors stood at Rs.8,00,000 crore. Of this, Rs.75,000 crore, or 9.40 percent of the total advances is bad and doubtful debt. The size of the NPAs portfolio in the Indian banking industry is close to Rs.1,00,000 crore which is around 6 percent of India’ s GDP2.The RBI has recently announced that the banks should not pay dividends at more than 33.33 percent of their net profit. It has further provided that the banks having NPA levels less than 3 percent and having Capital Adequacy Reserve Ratio (CARR) of more than 11 percent for the last two years will only be eligible to declare dividends without the permission from RBI3. This step is for strengthening the balance sheet of all the banks in the country. The banks should provide sufficient provisions from their profits so as to bring down the net NPAs level to 3 percent of their advances.NPAs are the primary indicators of credit risk. Capital Adequacy Ratio (CAR) is another measure of credit risk. CAR is supposed to act as a buffer against credit loss, which isset at 9 percent under the RBI stipulation4. With a view to moving towards International best practices and to ensure greater transparency, it has been decided to adopt the ’ 90 days’ ‘ over due’ norm for identification of NPAs from the year ending March 31, 2004.The New Basel Capital Accord is scheduled to be implemented by the end of 2006. All the banking supervisors may have to join the Accord. Even the domestic banks in addition to internationally active banks may have to conform to the Accord principles in the coming decades. The RBI as the regulator of the Indian banking industry has shown keen interest in strengthening the system, and the individual banks have responded in good measure in orienting themselves towards global best practices.1.3 Credit Risk Management(CRM) dynamics:The world over, credit risk has proved to be the most critical of all risks faced by a banking institution. A study of bank failures in New England found that, of the 62 banks in existence before 1984, which failed from 1989 to 1992, in 58 cases it was observed that loans and advances were not being repaid in time 5 . This signifies the role of credit risk management and therefore it forms the basis of present research analysis.Researchers and risk management practitioners have constantly tried to improve on current techniques and in recent years, enormous strides have been made in the art and science of credit risk measurement and management6. Much of the progress in this field has resulted form the limitations of traditional approaches to credit risk management and with the current Bank for International Settlement’ (BIS) regulatory model. Even in banks which regularly fine-tune credit policies and streamline credit processes, it is a real challenge for credit risk managers to correctly identify pockets of risk concentration, quantify extent of risk carried, identify opportunities for diversification and balance the risk-return trade-off in their credit portfolio.The two distinct dimensions of credit risk management can readily be identified as preventive measures and curative measures. Preventive measures include risk assessment, risk measurement and risk pricing, early warning system to pick early signals of future defaults and better credit portfolio diversification. The curative measures, on the other hand, aim at minimizing post-sanction loan losses through such steps as securitization, derivative trading, risk sharing, legal enforcement etc. It is widely believed that an ounce of prevention is worth a pound of cure. Therefore, the focus of the study is on preventive measures in tune with the norms prescribed by New Basel Capital Accord.The study also intends to throw some light on the two most significant developments impacting the fundamentals of credit risk management practices of banking industry – New Basel Capital Accord and Risk Based Supervision. Apart from highlighting the salient features of credit risk management prescriptions under New Basel Accord, attempts are made to codify the response of Indian banking professionals to various proposals under the accord. Similarly, RBI proposed Risk Based Supervision (RBS) is examined to capture its direction and implementation problems。

Personal housing loan to the bank risk management researchPART I. Problem StatementIn this part, I will give a detailed introduction of Industrial and Commercial Bank of China and the information about the Individual housing loan. Certainly, the problem formulation is the most imp ortant one I want to discuss.1 introduction to ICBC and IssuesIndustrial and Commercial Bank of China Ltd. (ICBC) is the largest bank in the world by profit an d market capitalization. It is one China's 'Big Four' state-owned commercial banks (the other three being the Bank of China, Agricultural Bank of China, and China Construction Bank. It was founde d as a limited company on January 1, 1984. As of March 2010, it had assets of RMB 12.55 trillion (US$1.9 trillion), with over 18,000 outlets including 106 overseas branches and agents globally. In 2011, it ranked number 7 on Forbes Global 2000 list of worlds biggest public companies Industrial and Commercial Bank of 1991 established the Department of real estate credit, for indiv idual housing credit business, and made a worker housing mortgage loan management approach.1.1 Individual housing loanIndividual housing loan of bank credit to the self is the source of funds for personal loans to prope rty buyers. Also known as the commercial individual housing loans, banks name are not the same, the Construction Bank known as the individual housing loans, industrial and Commercial Bank of China and Agricultural Bank known as the personal housing loan guarantee 1.2 the credit risk The real estate industry is a high risk industry, housing credit business hides the bigger risk.It is th e bank's own risks. Commercial banks as credit parties, in groups through the internal division of t he mutual cooperation, a part of any mismanagement may cause potential risks into reality, caused the loss of assets. Credit risk caused by characteristic is the banks themselves, but it can avoid, re duce and prevent the credit risk, which is the focus of the work2. problem formulationHow to decrease the credit risks of personal housing loan of ICBC?3.Interpretation of the problem formulationThe credit risk of individual housing loan risk is highest among species, including the borrower so lvency risk of insufficient and guarantor solvency risk two kinds. On the loan applicant for credit i nvestigation is the bank consumer credit business as an important link. Because of China's persona l credit system has not yet been established, on the personal credit status and lack of reasonable cri teria, the bank can only be to the borrower unit written proof of income and other materials as the basis of credit evaluation, its authenticity, timeliness is difficult to determine, on the personal inco me verification of high cost. Individual housing loans up to a maximum of 30 years, in such a long time span to the borrower economic status was lasting monitoring, stage of commodity housing pr ices higher, the monthly repayment of principal and interest burden is heavy, once the borrower un employment or regular income to reduce possible default risk. Due to the development of real esta te industry is a high risk, high profit industry, developers operating status, ability to pay is also ver y difficult to grasp, it is easy to produce risk.Part II. MethodologyI collect the information and data with a Individual housing loan business of ICBC. I get some fina ncial data I can use and find some theories to resolve the problems.I use the comparative analysis and the STP method to target and analyze the problems. And I use some theories such as MM theory and hedging theory to analyze the problems faced by ICBC. In additional, I use some methods to analyze how to reduce the risks.Part III. Analysis……1. Introduction of Icbc Shanghai branch personal housing loan risk management……1.1 ICBC Shanghai branch personal housing loan statusOn October 28, 2005, industry and commerce bank was renamed "industrial and commercial bank of China Co., LTD.", the overall reform of the wholly state-owned commercial Banks for joint sto ck commercial Banks. On October 27, 2006, industry and commerce bank A shares and H shares li sted on success, become China's largest assets, customer base the most extensive, informationizati on level, business growth of the highest good public joint stock commercial Banks. At the end of 2 009, industry and commerce bank total assets of 117850.53 one hundred million yuan, total liabilit ies ll 1, 06.119 billion yuan, total market capitalisation of $269 billion, the world's first listed Bank s; That year 3094.54 business income is one hundred million yuan, a net profit of 1293.50 one hun dred million yuan, the world's most profitable bank straight; Bad loans outstanding and bad loans f or the first ten years keep double down, defective rate reduced from 1.54% to; Capital adequacy ra tio and core capital ratios were 12.36% and 9.9096, in the process of rapid business growth still ke ep a good adequate capital level. China personal loans 12068.50 one hundred million yuan, up 45. 5%, with the increase of 2768.70 personal housing loan one hundred million yuan, up 46.3%, and all of the first one. Industry and commerce bank individual loan balances the proportion of the tota l outstanding balance of the loans is rising year by year, the end of 09 has reached to 21.1%, amon g them a personal housing loan balance of all personal loan balance was 72.4%.Personal housing loanThe ICBC Shanghai branch head office is one of the branch, the head office is in the system in the top of every business, in recent years the head office system comprehensive assessment has ranked top. By the end of December 2009, icbc Shanghai branch of local deposit, loan balance respective ly for $954.2 billion and $369.5 billion respectively 18.93% and 20.43% than at the growth, includ ing personal housing loan balance of 55 billion yuan, a year-on-year increase of36.3%, accounting for 14.9% of all loans; All the bad loans outstanding 4.084 billion yuan, defective rate 1.11%, 12 consecutive years realized the double down, including personal housing loan defective rate 0.24%, much lower than selling loans defective rate; Middle business income is 4.818 billion yuan and th e growth rate 35%, and record the same period; Book profit is 15.184 billion yuan, overfulfilled ye ar-round. Icbc Shanghai branch to "trade leaders, optimum system, the world first-class" for strate gic development target, in recent years to the formidable strength, prudent business, of the spirit of innovation, through the reasonable layout of the marketing network, a wide range of high quality customer base, obvious advantages of innovative products, advanced electronic banking services, and realize the fast growth the scale of operation, the profit level leap in a new stage, and the quali ty of the assets reached a new level in Shanghai, Banks of in a leading level, including personal housing loan business development especially rapidly, 2009 icbc Shanghai branch personal housing l oan balance and increment of the trade in Shanghai than were 14.06% and 14.71% in the first half year of 2201 accounts for incremental than rose to 23.1 l %1.2 1.1.1 icbc Shanghai branch person al housing loan business overall development situation In the 2007 years, icbc Shanghai branch pe rsonal housing loan began to reason stabilising, But growth is not big, to the end of 2008 at the en d of 2005 to restore basic level. Beginning in 2009, as All national encourage spending and invest ment policy influence, the real estate market supply and demand and the present situation of the t wo popular, people's silverBank of individual housing loan interest rate policy further relax, therefore icbc Shanghai branch p ersonal housing loan realizedThe unprecedented growth situation, to the end of 2010 is expected to personal housing loan balan ce can reach 750One hundred million yuan, personal loans outstanding expected to exceed 80 billion yuan.1.1.2 ICBC Shanghai branch personal housing loan business features1. The individual housing loan balances the proportion of amount of personal loans is on the rise F rom the table 1.2 shows, icbc Shanghai branch personal housing loan balance personal loan balanc es of the proportion of basic between 90% ~ 95%, and since 2007 the proportion of the rising tren d. Due to personal housing loan loan USES clear, the bank loan funds can be directly into develop ers or the seller's account to control the housing loan to capital flows, and Shanghai branch has ric h real estate development loan resources, so in recent years has been the Shanghai branch of perso nal housing loan as a personal loan business development the important direction, andconstantly c ompression personal comprehensive consumer loans, personal car loans, personal business loans, and other consumer loan business.2. Second-hand housing loans fast growthIn recent years, icbc Shanghai branch second-hand housing loans to the rapid growth of the end of June by the year 2010, used a personal housing loan balance has reached nearly 31.8 billion yuan, is the end of 2005 the balance of 4.5 times, accounting for personal housing loan balance by 2005 the share of jumped from 17.7% 47.6%, already present and a basic personal housing loan divide t he world situation, and according to the trend of increase in the first half of 2010, by the end of 20 10 is likely to more than a personal housing loan balances. Icbc Shanghai branch second-hand indi vidual housing loan was partly due to the rapid growth of the Shanghai housing market in recent y ears the abnormal prosperity, on the other hand is Shanghai branch and a lot of real estate agent est ablished cooperative relations, according to statistics, until June 2010, since 2009 have loans coop eration agency has reached 185ICBC Shanghai branch of credit asset quality improving trends pre sent the year after year, especially since listing reform, icbc Shanghai branch of credit asset quality has the advanced international level of bank. The figure 3.2 shows, personal loan asset quality bet ter than corporate loans, by the end of June 2010, personal loans non-conforming rate is only 0.38 %, far below the legal person loan defective rate 1.01%, and personal loans due to high quality per sonal housing loan asset quality. Personal housing loans accounted for more than 90% of personal loans, the direct impact on the quality of the assets of the whole individual loan nonconformities.8Figure 1.2 the icbc Shanghai branch personal housing loan constitute (amount units: ten thousand yuan)ICBC Shanghai branch of credit asset quality improving trends present the year after year, especially since listing reform, icbc Shanghai branch of credit asset quality has the advanced international level of bank. The figure 3.2 shows, personal loan asset quality better than corporate loans, by the end of June 2010, personal loans non-conforming rate is only 0.38%, far below the legal person lo an defective rate 1.01%, and personal loans due to high quality personal housing loan asset quality . Personal housing loans accounted for more than 90% of personal loans, the direct impact on the quality of the assets of the whole individual loan nonconformities.Figure 1.3 the icbc Shanghai branch the quality of loan assetsFrom the table 1.3 know, icbc Shanghai branch in developing a personal housing loan business at t he same time always adhere to execute all the risk management measures, and maintain the indivi dual housing loan quality the quality of the assets, and bad loans and bad balance realize the doubl e down, and by the end of 2006 respectively the $167.57 million and 0.45% lower in 2010 to the e nd of June 137.39 million yuan and 0.21%.2. icbc Shanghai branch personal housing loan risk management present situationThe first part of a detailed analysis on the icbc Shanghai branch of individual housing loan main ri sk sources, secondly introduced the related risk assessment indexes, the last key to introduce the in dividual housing loan risk management aspects of the four marked characteristics: the organization, system construction, the overall process management, electronic information degree is higher.2．1 what are the sources of personal housing loan riskFrom the personal housing loan business process to see, this business is not only related to the sale s contract, sign a building to apply for loans, bank loan survey and examination, loans of the contr act, to deal with guaranty to register, insurance, notarization, loans, loan examination numerous lin ks, they also involve building buyers and sellers, agency, Banks, insurance companies, etc. Theref ore, many factors can cause individual housing loan risks, the causes of the complex and changeab le.2.1.1 comes from the borrowerFrom the risk of the borrower, bank individual housing loan is the most main sources of risk, is ma inly refers to the borrower of the moral risk and reimbursement ability and reimbursement intend t o change brings the risk. 1. The borrower of moral hazard.Because at present our country personal credit registry system is not perfect, asymmetric informati on, and that the individual's various dishonest behavior should not punished, so the bank loans to t he examination and approval of the phenomenon occurs when the adverse selection. Icbc Shangha i branch at present in the disposal process of bad loans personal, found that the borrower of the mo ral risk of the embodied in the following aspects: one is the borrower to provide fake documents, o r to steal other people id card or property right card for false estate trade, using the name of others to apply for a loan to malicious cheating bank loans; 2 it is the borrower to provide false proof of e arnings or tax return, intentionally improve personal income, in order to achieve the bank lending requirements; Three is the borrower malicious exploiting legal loopholes, many malicious escape bank debt borrowers and the raising of their family members have no other place, or man-made th emselves and their families live without raising the fact that other, resolute don'tmove out of their homes, the bank even win legal proceedings, the court is not the mortgage of execution. The abov e situation most by the borrower and real estate developers or property intermediary company com mon collusion operation.2. The borrower reimbursement ability to drop, also called the "forced default". In real business, the more common situation:First is the borrower unemployment or business failure. The once unable to normal servicing, will give the bank caused great risk.Second.it is the borrower's own or immediate relatives a major disease, bank loans will face can b e retrieved, and the court does not carry out the risk.Three is the borrower violate the law sentenced, once by the borrower violate the law be judicial a uthorities held or sentence, the loan default rate almost close to 100%.3. When The borrower's payments intend to change. The borrower's payments will repay the loan i s referred to the subjective initiative, is to ensure that the main factors of safety bank loans, when t he borrower malicious escape the behavior of existing debt, the Banks often need to spend a lot of manpower and time and financial resources to settle the part of the loan risk.When the borrower marriage (or love) broken relationships. Bank loans in daily demanded overdu e process, often will meet the borrower is not willing to accept the obligation of reimbursement. As long as When there is a party would not owing on the loan, and the other party in most cases is also not willing to loan payments, even if one party willing to loan payments, usually in a certain proportion owing on the loan, not a full return, so th e bank will still take greater risks. And the marriage of the property of the segmentation under gen eral is more difficult, the bank also provides borrowers can't do change, so in that case, unless the parties can talk things over solve the property right of the building belongs and loan problems, oth erwise the bank can only be resolved through legal channels. When it is rational to breach of contr act. When home prices to fall or rapidly rising interest rates to a larger extent, continue to repayme nt of cost more than give up reimbursement of income, the borrower will be rational breach. The most active breach may occur in the loan contract after thesigning of the first two years, as the def ault opportunity cost is lower, the loss of just head, transaction cost and part of the loan principal a nd interest 2.1.2 From real estate developers 1. Real estate developers fraudWhen real estate developers funds, and then can't obtain bank development loan, often used intenti onally to improve mortgage prices down to open or false starts to help borrowers receipt diddle ba nk loans.2. Real estate developers with the other bad behaviorOf course developers in addition to the fraud risk, and you may be because of his bad behavior trig ger loan risk. For example, the building lousy tail, developers of volume and walk; Developers ille gal building, which could deal with produce evidence 2.1.3 From secondhand the room the seller The risk of the seller from secondhand room, is mainly refers to the seller for bank capital fingerpr int secondhand the room and not the real business of a risk. This kind of situation commonly know n as the "real", namely "heart to the seller of secondhand the room often still lived in the house, an d the houses have loans back by the vendor rather than the borrower. This is mainly due to the cust omer manager in loan survey only paying attention to check the borrower when reimbursement abi lity, ignore understand the authenticity of transactions in the house.2.1.4 From increased risk of intermediary institutions ⑴. From the organization's risk assessment From the organization's risk assessment, is mainly refers to assess the risk of due diligence evaluat ion agency does not. Property values of assessment is correct or not, relates directly to the bank in the future when the mortgaged property can pay of full specified amount disposal loan principal a nd interest. Personal second-hand housing loan of housing, a considerable part of the need to pass real estate appraisal company for real estate evaluation, in many of the real estate appraisal institution of management strength, professional level, social credibility is different. Some evaluation inst itutions to their own interests, not abide by the industry standards and professional ethics, and with the requirements of the blind, the house prices overvalued take calculate, disrupting the market or der, give individual housing credit capital left risk potential. ⑵. From the risk of second-hand hou sing agenciesFrom the risk of second-hand housing agencies mainly refers to secondhand the room for business and intermediary made charge high placement fee, and help do not conform to the bank loan cond itions of the borrower forged material, or help borrowers are false transactions to show the bank fu nds behavior led to the risk. To the end of June 2010, icbc Shanghai branch cooperation agency re commended by the outstanding balance of the loans have accounted for 58% of our personal loans outstanding, have 14 offices of bad loans recommended appear, the highest defective rate has reac hed 19%, shall be punished by the Shanghai branch suspended.2.1.5 From the mortgaged propertyPersonal housing loan assure means in addition to developers unsecured stage, is houses mortgage guarantee. At present, icbc Shanghai branch of the risk facing the mortgaged property, particularl y prominent mainly reflects in:1. The mortgaged property is secondary mortgage and court the phenomenon of seizure increased obviously2. Mortgage guarantee the legal risk increase lift3. The current laws exist to mortgage house disposal obstacles2.1.6 From the bank's internal managementFrom the internal management of risk is bank in handling personal housing loan process, because t he bank officials operating mistakes and moral risk or bank management defects of the system of bank loans to the possibility of loss. Mainly displays in the following aspects:1. Before the risk of credit investigationIn the loan survey link, some customers manager work sense of responsibility, to the borrower and other important material not economic income according to the requirements for the door to verif y; Or business quality is not high, can't identify potential risk; Only the mortgaged property or the guarantor or on the investigation, neglecting to their own material the authenticity of the borrower s understand: also have individual customer manager out of personal interests, knowing the borro wer to provide is not false materials and pointed out that, misleading loan approval; More serious i s theindividual employee who knowingly breaks the law, and the borrower collusion inside and ou tside, falsifying the related materials, diddle bank funds.2. When the risk of loan reviewBecause of his business banking competition is intense, some branch in order to expand its busines s scope, the pursuit of the rapid growth of the size of the loan and loan review stage in reducing to mortgage project access requirements, for some not meet the conditions of the development projec t provides loan services; The examination and approval of the borrower or relaxation condition, so me do not conform to the conditions of the borrower loan of individual housing loan.3. After the credit risk managementBecause individual housing loan amount is small, pen, time limit for long, risk factors such as com plex and changeable characteristics, so give loans to bring greater later-period management difficu lties. On the one hand most common branch "replay light tubes" thought, no full-time credit mana gement, after post responsibility definition not clear, after credit management perfunctory; On theother hand, the borrower to the lack of effective tracking and monitoring method, lead to overdue l oan collection and disposal the efficiency is low, the give personal housing loan brought the big ris k potential.2．2 What is individual housing credit risk evaluation index?At present, icbc Shanghai branch for personal housing loan risk evaluation index mainly for the lo an and loan rate so migration. Now, In the loan defective rate, and a room and secondhand room, a ccording to loans years and different branches, if cooperative organization recommended four dim ensions to examine.In the loan migration rate, mainly in classifying loans into five categories, and on the basis of eval uation respectively from the normal kind of loan deterioration to attention kind, attention from cla ss to class, subprime deterioration of from subprime deterioration to suspicious kind, from the sus picious class deterioration of loss to the ratio.Branch quarterly assessment plan the finance depart ment each line of the index of the standard deviation, according to the standard deviation of where the different interval give different assessment score, finally included in the President business pe rformance evaluation. 2．3 Individual housing credit risk management characteristics 2．3．1 Ri sk management system is perfect 1. Icbc Shanghai branch risk management frameworkIn order to fully exercise the head office comprehensive risk management framework to the next le vel of risk management function branch, Shanghai branch established risk management committee , the committee form shown in figure 1.4. The committee a secretariat, by risk management depart ment bear related functions and duties, be responsible for all the professional organization and coo rdination of the routine work of the commission.2. Icbc Shanghai branch individual housing credit agency setIcbc Shanghai branch individual housing credit agency set up branch and divided into two aspects branch:From the branch level, personal finance department set up consumer credit business department re sponsible for financing market development and financing channel management; Consumer credit management center is responsible for all the branch of personal loans on examination and approva l, homework supervision and default loans process; The credit management department set up pers onal loan risk management division and monitoring analysis division, responsible for selling perso nal loans after the credit risk management and monitoring system of establishing and supervision a nd examination of the secondary branch work quality and system implementation; Legal GeDai lit igation, responsible for both sets GeDai non-performing loans lawsuit; Risk management risk mon itoring, and the business administration section of the company establish a dedicated the GeDai re sponsible for bad loans monitoring and cancel after verification work; Branch file management ce nter of archives, and the archives arrangement, establish a dedicated the GeDai responsible for the centralized management files.2．3．2 Risk management system constructionIcbc Shanghai branch in individual housing loan risk management regulations system range from marketing to cancel after verification of the whole process, loan involves personal banking, consu mer credit management center, the credit management department, accounting settlement departm ent, and other related departments2．3．3 Process management of individual housing loansIn recent years, industrial and commercial bank branches in Shanghai in terms of personal housing loan process management and constantly improve, and for credit management and after bad dispo sition process continued to be refined. From loan origination to the refinement of the process management of loan recovery, makes ICBC Shanghai Branch has been effectively controlling the risk o f personal housing loan. 1. Accept loansThe borrower loan application should be put forward according to the bank generally list, provide borrower basic material, purchased housing related material and loan guarantees material three asp ects of the material 2 the loan surveyPersonal housing loan survey by loans do responsible for handling. Loan survey implementation d ouble survey and see the guest talk system 3. Loan reviewPersonal housing loan Center is responsible for review and approval by the consumer credit mana gement. 4. Loan origination (1) sign the contract(2) carry out QianPi examination and approval and opinion (3) loan approval(4) loans(5) after the credit management (1) the loan files centralized managementBeginning in 2008, ICBC Shanghai Branch enables centralized management of all personal credit files, ensuring archive integrity and validity of the information. Meanwhile, the branch also sets st rict lending and revocation of administrative measures to ensure that outstanding loans of his perm it in time archive. (2) credit risk monitoringPersonal loan risk monitoring main means to pass the information to collect, found that the early si gns of credit risk, and the risk early warning, in time for the follow-up checks and submit the decis ion, in order to achieve the purpose of risks in time. The work required by the credit management department set risk monitoring the responsible for full-time, risk monitoring of mainl y on the following aspects:① The loan fund flow monitoring ② Personal loans cross default warning ③ After the credit chec k ④ Default loans managementIcbc Shanghai branch for personal housing loan time limit the collection process and the way to in clude: 1. SMS tip2.95588 artificial pews the centralized collection 3 send bank collection letters or the lawyers lette rs" 4 the door collection2．3．4 Risk management of electronic information degree is higherShanghai branch to develop PCRMS authority card management system in July 2008 formally put into production.On July 1, 2008 all-new personal loans all important documents through the syste m of centralized management.3. Icbc Shanghai branch personal housing loan risk management exist in what problems? Although icbc Shanghai branch in individual housing loan risk management has strong organizatio n and a complete system construction system, and realize the whole process management and elect ronic information management, but still exist in the following aspects of the deficiencies3.1 Risk management consciousness not firmWhile rapid development in housing loans to individuals, Icbc Shanghai branch line of business co ncept in individual thoughts and is unable to correctly deal with the business development and risk management of the relationshipRisk management ability is a modern commercial bank comprehensive operation force the concret e embodiment of, is the core competitiveness of the elements, is an important guarantee of the abil ity of sustainable development.3.1.1 policy system implementation does not reach the designated positionIn the risk analysis of source, we can clearly see icbc Shanghai branch is faced with a variety of ris k, especially from the borrower, real estate developers, cooperation intermediary produced by the。

外文翻译原文loans and risksMaterial Source: An Introduction to the Mathematics of MoneyAuthor: David Lovelock, Marilou Mendel and A. Larry Wright Many students obtain student loans. These loans may be issued by individuals, businesses (as part of an employee’s benefit program), or by the government. A common type of student loan is a Stafford loan, which is guaranteed by the federal government. Typical conditions for a Stafford loan are that the repayment period of the loan is at most 10 years, the minimum monthly payment is $50, and there is no prepayment penalty (this last condition is important because many real estate loans, for example, charge a very high penalty for paying off the loan early). These loans are currently at a fixed rate, and there is a late fee for late payments. An important feature of these loans is that the student does not begin to repay the loan until 6 months after completing the academic program or leaving school.Home loans are available through banks, savings and loans, and mortgage brokers. Home loans can be at a fixed or adjustable rate.• An fixed rate loans are usually given for terms of 15 or 30 years. Usually, the interest rate for a 30-year loan is higher than that for a 15-year loan. In this case the borrower pays an added premium (a higher interest rate) for the privilege of paying off the loan over a longer period of time.• An adjustable rate loan offers a fixed rate for an initial period of time (typically 1 to 5 years). At the end of this initial period the rate may be adjusted, usually in relation to some government index, such as the Treasury bill rate. Generally, the initial rate for an adjustable rate loan is lower than the comparable rate for a fixed rate loan. The borrower is given this consideration to compensate for the uncertainty of future rates. At the end of the initial period, periodic reviews of the loan are made, and the rate is adjusted according to the index being used. Usually there is a cap—a maximum amount that the rate may be increased at any time.Home loans often carry a prepayment penalty. If homeowners wish to pay off their loans early in order to refinance at a lower rate, then a prepayment penalty maymake this a bad decision. A prepayment penalty may be as much as six months interest on 80% of the remaining balance.Business loans are available from many banks, individuals, and local, state, or federal government agencies. In many cases the seller of a business may “carry back” a loan to the buyer. In these cases there may be great flexibility in the structure of the loan. For example, a common practice is to defer payment of the principal and interest until the new owner has been in business for a fixed period of time. This is an example of a concession by the owner. In other cases there may be a “balloon” payment. In these cases the buyer makes periodic payments until a fixed date, at which time the remainder of the principal is due. This is an example of a concession by the buyer.Borrowers often have many choices when deciding how to finance purchases. The choices vary with respect to the term of the loan, the interest rate charged for the loan, whether or not payments include principal, and whether or not the loan is secured. For example, business loans tend to have higher rates than home loans, real estate loans for non-owner-occupied properties generally have higher interest rates than for owner-occupied properties, and fixed rate loans generally have higher initial interest rates than adjustable rate loans. The differences in choices are associated with differences in the associated risks. In this and other financial contexts, the term risk is synonymous with uncertainty.One source of risk is interest rate risk. The more quickly a loan is repaid, the lower the impact of unexpected increases in interest rates on the lender. Therefore, short-term loans and loans that include principal repayments are less risky than long-term loans and loans that do not include principal repayments.Another source of risk is default risk. Default risk is the risk that a borrower fails to make interest or principal payments when promised. Again, the more quickly a loan is repaid, the less risky the loan for the lender; if a borrower defaults on a loan, then the amount of the outstanding principal is lower for short-term loans that include principal repayments. Also, secured loans are less risky than unsecured loans. If a borrower fails to repay a loan that is secured by collateral, then the lender can take possession of the collateral.However, this is not the case with unsecured loans. These differences in risk result in differences in the rates charged for the various loans; higher rates are charged for riskier loans. However, even loans with the same interest rate don’t necessarily have the same total interest. We now look at four different ways ofrepaying a loan, all based on the fact that we borrow the same amount at the same interest rate.Loan 1: Consider an annuity in which we pay $1,000 at the end of each year for 5 years. Current interest rates are 8%. Table 5.1 shows the details of this loan repayment.The total interest paid is $1,007.29. This is typical of an amortization. An amortized loan is one for which constant principal and interest payments are made at regular intervals until the loan is repaid.Loan 2: Another institution offers to lend us the same $3,992.71 at 8% over five years, but we are only required to pay the interest at the end of each year and the original principal at the end of the fifth year. Table 5.2 shows the details of this loan repayment.The total interest paid is $1,597.08. This is typical of bonds. A bond is a loanthat an investor makes to a governmental agency or corporation for which the borrower pays the lender a fixed amount at regular intervals until the last payment, at which time the principal is repaid.Loan 3: Another institution offers to lend us the same $3,992.71 at 8% over five years, but we are only required to pay the principal and interest at the end of the fifth year. Table 5.3 shows the details of this loan repayment.Table 5.3. Zero Coupon BondNote that for example, the remaining principal at the start of year 3 ($4,657.10) includes the remaining principal at the start of year 2 ($4,312.13) plus the interest accrued during that year ($344.97). The interest for year 3 is calculated from the remaining principal at the start of that year ($4,657.10).Thus, interest is computed upon interest.The total interest paid is $1,873.89. This is typical of zero coupon bonds, which are discussed in Chap. 8. A zero coupon bond is a bond for which there are no regular payments. Thus, the only payment made is a lump sum payment at the end of the loan period.译文贷款与风险资料来源:货币数学运算的介绍作者：大卫·埃索；马里拉·孟德尔；赖瑞·怀特现在，许多学生获得了助学贷款。

我国商业银行个人住房贷款风险及其防范引言在我国，个人住房贷款已经成为人们购房的主要途径之一，也是商业银行的主要业务之一。

由于个人住房贷款涉及金额大、期限长，因此存在一定的风险。

本文主要从我国商业银行个人住房贷款的风险特点和防范措施进行探讨。

一、我国商业银行个人住房贷款的风险特点1.1 风险来源我国商业银行个人住房贷款的风险主要来自于房地产市场的波动、借款人的还款能力、政策法规变化和宏观经济环境等方面。

房地产市场的波动是个人住房贷款风险的主要来源之一。

当房地产市场出现波动时，房价下跌、房屋抵押价值降低，都会影响到借款人的还款能力，从而导致贷款违约风险的增加。

借款人的还款能力也是个人住房贷款风险的关键来源。

如果借款人的收入稳定性较差，或者存在其他还款能力不足的情况，都会增加贷款违约的可能性。

政策法规变化也会对个人住房贷款风险产生影响。

政府的房地产政策、贷款政策等的调整都可能影响到贷款的风险水平，需要商业银行及时调整相应的风险管理措施。

宏观经济环境也是个人住房贷款风险的重要来源。

当宏观经济环境出现不利的变化时，可能导致借款人的收入下降，从而影响到还款能力，增加贷款违约的风险。

1.2 风险特点个人住房贷款的风险特点主要表现在以下几个方面：贷款金额大、期限长，导致信用风险和利率风险较高。

个人住房贷款通常金额较大，期限较长，这意味着银行需要长期关注借款人的信用状况和利率风险，确保其还款能力和还款意愿。

房地产市场的波动风险较大。

由于房地产市场的波动具有一定的不确定性，所以对于商业银行而言，需要在政策法规允许的范围内，灵活调整贷款政策，降低市场波动对贷款风险的影响。

借款人的稳定性和还款能力是风险控制的难点。

对于借款人的还款能力和稳定性的评估需要依赖于大量的信息数据，并且需要考虑到宏观经济环境和政策法规的变化，这增加了风险管理的难度和复杂性。

1.3 风险预警对于个人住房贷款的风险，商业银行需要及时进行风险预警，及时发现和识别风险信号，以便采取相应的防范措施。