Britain has the most energetic and competitive consumer credit market in Europe. However, the legislation regulating it is almost thirty years old. Although it has generally stood the test of time extremely well, the credit market has developed to an extent never envisaged in the early 1970's. This White Paper...
Credit risk has been in the headlines for the last few years. The volatility in the credit market a few years ago and the turmoil surrounding the major defaults of Enron, WorldCom and Marconi have forced credit investors to pay close attention to risk and reward. But despite these, the...
Article informs that ten leading participants in the credit risk arena today announced an initiative to form an online community. CreditDimensions will be the first online credit community to offer financial institutions the full spectrum of integrated credit risk management services within a single web site. PricewaterhouseCoopers is designing and...
This article explores the expectations of the credit market by developing a parsimonious default swap model, which is versatile enough to disentangle default probability from the expected recovery rate, accommodate counter party default risk, and allow flexible correlation between state variables. It also shows that major rating agencies had assigned...
The paper maintains that if self-sustaining local credit markets are to emerge, a re-thinking of policy and institutions will have to take place. This report takes stock of international experience to shed light on a single question: How can efficient local credit markets be built? Some of the lessons from...
Equity markets suffered further volatility in the past few weeks as subprime losses and credit market woes continued to plague the market. North American and European markets in particular, experienced strong reverberations of credit market concerns Equity markets suffered further volatility in the past few...
This paper is basically a case study where a system was devised to carry out the financial transactions. It was early in the year 2000 and the worldwide Internet frenzy was at its peak. It describes about a group of very successful entrepreneurs who targeted the credit derivatives market -...
Mark McQueen Wellington Financial submits: At a variety of points last year, we tried to take readers through the “trickle down” impact that the credit crunch would have on a variety of industries and verticals (see prior representative posts “Credit Market turmoil and its effect on the overall Canadian...
This paper explains the need for insurance scoring. An insurance score uses information from your credit report to predict how often you are likely to file claims, and/or how expensive those claims will be. Studies have proven that credit characteristics are predictive of certain outcomes, such as insurance loss. The...
The failure of Congress to reauthorize the Fair Credit Reporting Act could have dire consequences for consumers and financial institutions alike by wreaking havoc on the credit market, a leading credit union executive warned lawmakers last week. The failure of Congress to reauthorize the Fair Credit Reporting Act could...
This paper describes how the consumer credit reporting industry evolved from a few joint ventures of local retailers around 1900 to a high technology industry that plays a supporting role in America's trillion-dollar consumer credit market. In many ways the development of the industry reflects the intuition developed in the...
NEW YORK -- Merrill Lynch & Co., Inc. (NYSE: MER) today announced that challenging credit market conditions will have an adverse impact on its net earnings for the third quarter. The company expects to report a net loss per diluted share of up to $0.50, resulting from significant negative mark-to-market...
NEW ENTRANTS TO THE Australian credit card market such as Richard Branson's Virgin Group are likely to achieve success at the expense of the major total players because they are not weighed down by high cost reward programs. They are therefor...
This paper provides a simple model showing that the extent of competition in credit markets is important in determining the value of lending relationships. Creditors are more likely to finance credit constrained firms when credit markets are concentrated because it is easier for these creditors to internalize the benefits of...
OLDWICK, N.J. -- To complement its traditional Financial Strength Ratings FSR, A.M. Best has begun expressing its rating opinions on the credit market scale by assigning Issuer Credit Ratings ICR to companies, particularly where it believes these ratings will be useful.
This paper considers the functioning of the international interbank market IIBM, its contribution to the recent financial turbulence, and the policy issues presented by the existence of moral hazard and implicit guarantees of interbank liabilities. The paper provides statistical analysis to document the existence of contagion in the interbank market....
The purpose of this paper is to shed light on some of the potential factors that influence observed differences in the credit market experiences of small businesses across demographic groups. It is analyzed credit applications, loan denials, and interest rates paid. In addition, it examines the data gathered from small...
Long considered credit of last resort, asset-based lending is gaining ground with companies seeking liquidity in the tight credit market. It's a financing outlet of last resort. That's certainly sometimes the case. But it's a one-dimensional perception -- one that's changing as more and more CFOs simultaneously confront a tight...
A-Sharq Al-Awsat newspaper gave details of the decision by SAMA, the Saudi Arabian Monetary Authority, to permit the entry of the American Express Credit Company to enter the Saudi local credit market. The paper quoted a source in SAMA who said in ea A-Sharq Al-Awsat newspaper...
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