信用風險管理實務(英文版)(ppt 35頁)

信用風險管理實務內容提要：
Credit Background
Thorough identification and accurate measurement of credit risk, supported by strong risk management can help improve the bottom line
An uncertain and volatile economic environment significantly impacts this ability
The desire to grow and turn in outstanding results has a tendency to put pressure on the checks and balances within businesses
Credit plays a critical role in “selling” products and services
Expands revenue opportunities with creditworthy, incremental customers
Utilizes innovative structures to support business relationships
Effective credit risk management limits credit losses and provides stable cash flows and earnings
Marketplace rewards companies exhibiting earnings and cash flow stability with higher P/E multiples
Marketplace penalizes credit induced volatility and “surprises”
Raises questions about quality of management
Companies are exposed to significant levels of credit risk emanating from different sources
Accounts Receivables
Other Notes Receivables
Buyer and Franchise Financing
With Recourse Financing
Project Finance
Structured Transactions
Leases with Recourse
Derivatives Exposures
FX, Interest Rate Risk, Commodities etc.
Collateral Risk
Parent or Third Party Guarantees
Commercial and Standby Letters of Credit
Note also that Critical Suppliers to the company may pose specific credit risk
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