Suchergebnisse

This articles discusses the budgetary accounting framework instituted by the Federal Credit Reform Act of 1990. It identifies challenges facing credit agency managers who will be responsible for implementing new credit reform budgetary accounting systems, as envisioned by the legislation and the Office of Management and Budget's revised credit apportionment and budget execution instructions.

Annotation, In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country

Credit risk, i.e. the risk of loan default, is a significant risk faced by banks in every country. While banks make loans in order to generate income, by making loans they also face a risk of losing their principal and the interest. As part of their lending business, a small percentage of loan default (non-performing loans) is always expected. However, large volumes of loan defaults can push banks into bankruptcy and can cause financial instability in the banking sector. Therefore, it is important to know the factors affecting the credit risk, i.e. non-performing loans, in the banking sector. Especially in the newly established countries such as Kyrgyzstan, where most of the economic and financial policies are newly introduced and the banking sector is in its infancy, it is vital for the governments to understand the factors that increase the credit risk. This research uses the econometrics analysis to determine the macroeconomic factors that increase the credit risk in the banking sector of Kyrgyzstan. The findings indicate that real GDP growth rate, exchange rate of Som per US Dollar, corruption and the presence of political instability affect the credit risk in Kyrgyzstan. While GDP growth rate is negatively related with the credit risk, the exchange rate, corruption, and political instability are positively related with the same. The findings of this research suggest that in order to reduce the credit risk of banks and promote stability in the banking sector, the policy makers in Kyrgyzstan must promote political stability and economic growth, while the value of the local currency should be stabilized against US dollar. Furthermore the government must take actions to reduce high levels of corruption in the country. Keywords: NPLs, credit risk, banks, corruption, macroeconomy, Kyrgyzstan ; Öz: Kredi riski, yani kredi temerrüdü riski, her ülke bankaların karşılaştığı önemli bir risktir. Bankalar gelir elde etmek için müşterilerine kredi kullandırırken, bu riski göze almak zorundadırlar. Bankalar tarafından verilen kredilerin küçük bir yüzdesinin takipe düşmesi ve geri ödenmemesi normaldir çünkü kredi riski sıfırlanamaz. Bununla birlikte, geri dönmeyen kredilerin toplam kredilere oranı çok yükselirse, bu durum bankaları iflas ettirebilecek hatta finans sektöründe istikararı bozan ciddi bir risk olarak ortaya çıkabilir. Bu nedenle, bankacılık sektöründe, kredi riskini etkileyen faktörleri, diğer bir deyişle, takipteki kredilerin artmasına neden olan faktörleri bilmek önemlidir. Özellikle Kırgızistan gibi yeni kurulan ülkelerde bankacılık sektörünün çok yeni ve başlangıç döneminde olması nedeniyle, hükümetlerin kredi riskini artıran faktörleri anlamaları ve finansal politikalara ona göre yön vermeleri hayati önem taşımaktadır. Bu araştırmanın amacı Kırgızistan'ın bankacılık sektöründe kredi riskini artıran makroekonomik faktörleri belirlemektir. Bu amaçla ekonometrik analiz uygulayarak Kırgızistan'da kredi riskini artıran macroekonomik faktörler araştırılmıştır. Araştırma bulguları reel GSYİH'nın büyüme oranı, ABD Doları/Som döviz kuru, ülkedeki yolsuzluk seviyesi ve siyasi istikrarsızlığın Kırgızistan'daki kredi riskini etkilediğini göstermektedir. Reel GSYİH büyüme oranı kredi riskiyle negatif olarak ilişkiliyken, döviz kuru, yolsuzluk ve siyasi istikrarsızlığın pozitif olarak ilişkili olduğu ortaya çıkmıştır. Bu araştırmanın bulguları, bankaların kredi riskini azaltmak ve bankacılık sektöründe istikrar sağlamak için politik istikrarın sağlanması, ekonomik büyümenin teşvik etmesi, ve yerel para birimi Som'un ABD Doları karşısında değer kaybının önlenmesi gerektiğini ortaya koymuştur. Ayrıca Kırgızistan'daki yüksek yolsuzluk seviyesinin kredi riskini artıran en önemli faktörlerden biri olduğu ve kredi riskini azaltmak için ülke çapında yolsuzlukla mücadele edilmesi gerektiği de ortaya çıkmıştır. Anahtar Kelimeler: Batık kredi, kredi riski, banka, yolsuzluk, makroekonomi, Kırgızistan ; Master of Science in Banking and Finance. Thesis (M.S.)--Eastern Mediterranean University, Faculty of Business and Economics, Dept. of Banking and Finance, 2017. Supervisor: Prof. Dr. Hatice Jenkins.

This study examines how the Chinese state-owned banks allocate loans to private firms. We find that the banks extend loans to financially healthier and better-governed firms, which implies that the banks use commercial judgments in this segment of the market. We also find that having the state as a minority owner helps firms obtain bank loans and this suggests that political connections play a role in gaining access to bank finance. In addition, we find that commercial judgments are important determinants of the lending decisions for manufacturing firms, large firms, and firms located in regions with a more developed banking sector; political connections are important for firms in service industries, large firms, and firms located in areas with a less developed banking sector. ; preprint

Credit, to the private sector, is a critical component in driving growth and development the world over. In Africa, the level of credit advanced to the private sector as a percentage of GDP seems to have lagged other more developed regions at 46% of GDP in 2015, in comparison to 120% of global GDP. This study seeks to examine the macro-economic determinants of private sector credit growth in sub-Saharan Africa. The study focuses on independent variables GDP growth (GDP), money supply (M2), inflation (CPI) and interest rates (INTR). Using a panel data approach, twelve sub-Saharan countries are analysed with data observed over a thirty-six-year period, from 1980 to 2015. The size of the panel of countries was determined by the availability of data points on all variables that enabled a balanced panel. Both the random effects and the fixed effects estimation techniques are computed with the random effects method being more significant in the regression analysis, exploring the relationships between the independent variables and the dependent variable. The key findings of the study are that money supply is a significant determinant of private sector credit growth in sub-Saharan Africa showing a positive correlation coefficient. A percentage increase in M2 results in an increase of 0.9% in credit to the private sector. Inflation, on the other hand, dampens the growth in credit to the private sector with a significant negative correlation: a percentage increase results in a reduction of 0.06% in credit to the private sector. GDP growth was statistically insignificant in determining private sector credit growth, with recessionary periods experienced by the sample countries yielding a marginal negative correlation coefficient. Interest rates were also statistically insignificant with a negative correlation to private sector credit showing that credit growth was driven by the underlying need, rather than the cost of credit, in sub-Saharan Africa. It is recommended that policy makers and African governments formulate macro-economic policy that delicately balances the need to drive growth in required money supply, while at the same time maintaining stability in the rate of inflation and related variables. It is also recommended that Financial institutions implement strategies that prioritise mobilisation of loanable funds over interest rate margins. Private sector players are encouraged to focus on promoting investment-led credit consumption in key sectors of the African economy.