五章商业银行贷款管理(对外经济贸易大学何自云)

1、1/64Copyright 2004 何自云何自云 商业银行世界商业银行世界（Http:/）第五章第五章 商业银行贷款管理商业银行贷款管理对外经济贸易大学对外经济贸易大学 金融学院金融学院何自云何自云http:/2/64Copyright 2004 何自云何自云 商业银行世界商业银行世界（Http:/）第五章第五章 商业银行贷款管理商业银行贷款管理nChapter 15 Credit Policy and Loans CharacteristicsnChapter 16 Evaluating Commercial Loan Requests nChapter 17 Evaluating Con

2、sumer Loansn商业银行法商业银行法中有关贷款的规定（中有关贷款的规定（2003年年12月）月）n贷款通则贷款通则（征求意见稿）（征求意见稿）（2004年年5月）月）n商业银行商业银行授信工作尽职指引授信工作尽职指引（2004年年7月月16日）日）n贷款贷款风险分类风险分类指导原则（指导原则（2001年年12月月24日）日）n贷款贷款损失准备损失准备计提指引（计提指引（2002年年1月月1日）日）n担保法担保法（1995年年10月月1日）日）n个人住房贷款个人住房贷款管理办法（管理办法（1998年年5月月15日）日）3/64Copyright 2004 何自云何自云 商业银行世界商业银

3、行世界（Http:/）Chapter 15 Credit Policy and Loans CharacteristicsnThe Credit ProcessnBusiness Development and Credit AnalysisnCredit Execution and AdministrationnCredit Review4/64Copyright 2004 何自云何自云 商业银行世界商业银行世界（Http:/）The credit processnThe fundamental objective of lending is to make profitable loans

4、 with minimal risk.nManagement should target specific industries or markets in which lending officers have expertise.nThe somewhat competing goals of loan volume and loan quality must be balanced with the banks liquidity requirements, capital constraints, and rate of return objectives.nThe credit pr

5、ocess relies on each banks systems and controls that allow management and credit officers to evaluate risk and return trade-offs.5/64Copyright 2004 何自云何自云 商业银行世界商业银行世界（Http:/）The credit processnLoan policy: formalizes lending guidelines nCredit philosophy: how much risk and the formnCredit culture:

6、the fundamental principlesnThree potentially different credit cultures:nValues-drivennCurrent-profit drivennMarket-share drivennThe credit process includes three functionsnBusiness development and credit analysisnUnderwriting or credit execution and administrationnCredit review6/64Copyright 2004 何自云

7、何自云 商业银行世界商业银行世界（Http:/）Business development and credit analysisnMarket researchnAdvertising, public relationsnOffice call programsnObtain financial statements, borrowing resolution, credit reports.nFinancial statement and cash flow analysisnEvaluate collateralnLine officer makes recommendation on a

8、ccepting/rejecting loannFive Cs of good credit and five Cs of bad credit7/64Copyright 2004 何自云何自云 商业银行世界商业银行世界（Http:/）Five Cs of good creditnCharacter: honesty and trustworthiness. nCapital: wealth position measured by financial soundness and market standing. nCapacity: legal standing and management

9、s expertise. nConditions: economic environment or industry-specific factorsnCollateral: secondary source of repayment or security in the case of default. 8/64Copyright 2004 何自云何自云 商业银行世界商业银行世界（Http:/）Five Cs of bad creditnComplacency: the tendency to assumenCarelessness: monitor a borrowers progress

10、 and identify problems as early as possiblenCommunication: between management and loan officersnContingencies: failure to identify downside risknCompetition: follow competitors behavior rather than maintaining the banks own credit standards. 9/64Copyright 2004 何自云何自云 商业银行世界商业银行世界（Http:/）Credit execu

11、tion and administrationnLoan committee reviews proposal/recommendationnAccept/reject decision made, terms negotiatednLoan agreement prepared with collateral documentationnBorrower signs agreement, turns over collateral, receives loan proceedsnPerfect security interestnFile materials in credit filenP

12、rocess loan payments, obtain periodic financial statements, call on borrower.10/64Copyright 2004 何自云何自云 商业银行世界商业银行世界（Http:/）Credit reviewnReview loan documentationnMonitor compliance with loan agreement: nPositive and negative loan covenants; nDelinquencies in loan payments; nDiscuss nature of delin

13、quency or other problems with borrower.nInstitute corrective action nModify credit terms nObtain additional capital, collateral, guaranteesnCall loan11/64Copyright 2004 何自云何自云 商业银行世界商业银行世界（Http:/）Chapter 16 Evaluating Commercial Loan Requests nFundamental Credit IssuesnCharacter of the Borrower and

14、Quality of Data ProvidednUse of Loan ProceedsnLoan AmountnThe Primary Source and Timing of RepaymentnCollateralnEvaluating Credit Request: A Four-Part ProcessnOverview of Management, Operations, and the Firms IndustrynCommon Size and Financial Ratio AnalysisnCash Flow AnalysisnFinancial Projectionsn

15、Risk-Classification Scheme12/64Copyright 2004 何自云何自云 商业银行世界商业银行世界（Http:/）Fundamental credit issuesnRegardless of the type of loan, all credit requests mandate a systematic analysis of the borrowers ability to repay.nWhen evaluating loan requests, bankers can make two types of errors in judgment.nExt

16、ending credit to a customer who ultimately defaults.nDenying a loan to a customer who ultimately would repay the debt.nIn both cases, the bank loses a customer and its profits are less.13/64Copyright 2004 何自云何自云 商业银行世界商业银行世界（Http:/）Five fundamental issuesnFive fundamental issuesnCharacter and data q

17、ualitynUse of loan proceedsnLoan amountnSource and timing of repaymentnCollateral nIn addition to these issues, credit analysis should examine risks that are unique to each loan. nQuality of mgt; the soundness of the business; sensitivity to economic conditions; the firms relationship with other cre

18、ditors; etc.14/64Copyright 2004 何自云何自云 商业银行世界商业银行世界（Http:/）Character and quality of datanThe foremost issue in assessing credit risk is determining a borrowers commitment and ability to repay debts.nAn individuals honesty, integrity, and work ethic typically evidence commitment. For a business, comm

19、itment is evidenced by the owners and senior management.nWhenever there is deception or a lack of credibility, a bank should not do business with the borrower.nIt is often difficult to identify dishonest borrowers.nThe best indicators are the borrowers financial history and personal references.nAudi

20、ted financial data.15/64Copyright 2004 何自云何自云 商业银行世界商业银行世界（Http:/）Use of loan proceeds nLoan proceeds should be used for legitimate business operating purposesnSpeculative asset purchases and debt substitutions should be avoided.nThe true need and use of the loan proceeds determines the loan maturit

21、y, the anticipated source and timing of repayment, and the appropriate collateral.nOne common pitfall is to focus too much on collateral and end up financing a firms long-term needs with short-term notes.16/64Copyright 2004 何自云何自云 商业银行世界商业银行世界（Http:/）Loan AmountnThe amount of credit required depends

22、 on the use of the proceeds and the availability of internal sources of funds.nBorrowers often ask for too little in requesting a loan and return later for more funds.nThe required loan amount is a function of the initial cash deficiency and the pattern of future cash flows.17/64Copyright 2004 何自云何自

23、云 商业银行世界商业银行世界（Http:/）Primary source and timing of repaymentnLoans are repaid from cash flows.nFour basic sources of cash flows:nLiquidation of assetsnCash flow from normal operationsnNew debt issuesnNew equity issuesnCredit analysis evaluates the risk that a borrowers future cash flows will not be

24、sufficient to meet mandatory expenditures for continued operations and interest and principal payments on the loan.18/64Copyright 2004 何自云何自云 商业银行世界商业银行世界（Http:/）Collateral nCollateral is the security a bank has in assets owned and pledged by the borrower against a debt in the event of default.nLiqu

25、idating collateral is clearly a second best source of repayment for three reasons:nThere are significant transactions costs associated with foreclosure. (Time, money.)nBankruptcy laws allow borrowers to retain possession of the collateral long after they have defaulted.nWhen the bank takes possessio

26、n of the collateral, it deprives the borrower of the opportunity to salvage the company.19/64Copyright 2004 何自云何自云 商业银行世界商业银行世界（Http:/）What can be collateral?nVirtually any assets, or the general capacity to generate cash flow, can be used as collateral.nCollateral must exhibit three features:nIts v

27、alue should always exceed the outstanding principal on a loan.nA lender should be able to easily take possession of collateral and have a ready market for sale.nA lender must be able to clearly mark collateral as its own. The claim must be legal and clear. Careful loan documentation is required to p

28、erfect the banks interest in the collateral.20/64Copyright 2004 何自云何自云 商业银行世界商业银行世界（Http:/）Evaluation: A four-part processnThe purpose of credit analysis is to identify and define the lenders risk in making a loan.nFour-part process:nOverview of management, operations, and the firms industrynCommon

29、size and financial ratio analysisnAnalysis of cash flownProjections and analysis of the borrowers financial condition21/64Copyright 2004 何自云何自云 商业银行世界商业银行世界（Http:/）Step 1: Overview of management, operations and industrynBackground information on the firms operationsnOrganizational and business struc

30、turenProducts or services providednCompetitive position in the marketplacenBusiness and industry outlook reportnManagement character and qualitynThe nature of the borrowers loan request and the quality of the financial data provided.22/64Copyright 2004 何自云何自云 商业银行世界商业银行世界（Http:/）Step 2: Common size

31、and financial ratio analysisnCommon size ratio: ndivide by total assets (balance sheet) or net sales (income statement).nIt is adjusted for size and thus enables comparisons across firms in the same industry or line of business.nThe figures can be distorted, if a firm has one balance sheet or income

32、 statement item that differs sharply from industry standards.23/64Copyright 2004 何自云何自云 商业银行世界商业银行世界（Http:/）Financial ratio analysisnFour categoriesnLiquidity ratios: indicate its ability to meet its short-term obligations and continue operations.nActivity ratios: signal how efficiently a firm uses

33、assets to generate sales.nLeverage ratios: indicate the mix of the firms financing between debt and equity and potential earnings volatility.nProfitability ratios: indicate the firms sales and earnings performance (ROE, ROA).24/64Copyright 2004 何自云何自云 商业银行世界商业银行世界（Http:/）Step 3: Cash flow analysisnC

34、ash flow estimates are compared to principal and interest payments and discretionary cash expenditures to assess a firms borrowing capacity and financial strength.nCash flows:nOperating activitiesnInvesting activitiesnFinancing activities25/64Copyright 2004 何自云何自云 商业银行世界商业银行世界（Http:/）Step 4: Financi

35、al projectionsnThe previous 3 stages: historical performancenThe final step addresses the future conditions. nIn order to understand the range of potential outcomes, an analyst should make forecasts that incorporate different assumptions about the future.nSensitivity analysis:three alternative scena

36、riosnBest case scenarionWorst case scenarionMost likely scenario 26/64Copyright 2004 何自云何自云 商业银行世界商业银行世界（Http:/）Risk-classification schemenAfter evaluating the borrowers risk profile along all dimensions, a loan is placed in a rating category ranked according to the degree of risk.nSuch a system is

37、used for credit granting and pricing decisions.27/64Copyright 2004 何自云何自云 商业银行世界商业银行世界（Http:/）Chapter 17Evaluating Consumer Loans nAnalysis of consumer loans differ from that of commercial loans:nWhen evaluating measurable aspects of requests, banks are addressing the same issues.nBanks have to deal

38、 with a large number of distinct borrowers with different personalities and financial characteristics.nConsumer loans differ so much in design that no comprehensive analytical format applies to all loans.nFor most consumer loans, there is no formal analysis of individual borrower characteristics unl

39、ess a credit scoring model is used.nInstallment loans are treated much like commercial loans.28/64Copyright 2004 何自云何自云 商业银行世界商业银行世界（Http:/）Credit analysis (contd)nAnalysis of consumer loans differ from that of commercial loans (contd):nThe quality of financial data is lower: UnauditednThe primary s

40、ource of repayment is current income, which may be highly volatile.nThe net effect is that character is more difficult to assess, but extremely important.29/64Copyright 2004 何自云何自云 商业银行世界商业银行世界（Http:/）Character nThe most important yet difficult to asses is character: the customers desire to repay a

41、loan.nThe only quantitative info available is the borrowers application and credit record.nBanks rely heavily on subjective appraisals. nObtain personal referencesnVerify employmentnCheck the accuracy of the applicationnIf the officer determines that a potential customer is dishonest, the loan is re

42、jected automatically.30/64Copyright 2004 何自云何自云 商业银行世界商业银行世界（Http:/）CapitalnCapital refers to the individuals wealth position and is closely related to capacity, an individuals financial ability to meet loan payments in addition to normal living expenses and other debt obligations.nFor almost all co

43、nsumer loans, the individuals income serves as the primary source of repayment.nMinimum down payment requirementsnMaximum allowable debt-service to income ratiosnStability of the income source 31/64Copyright 2004 何自云何自云 商业银行世界商业银行世界（Http:/）Collateral nSecondary source of repayment.nCollateral may be

44、 nThe asset financed by the loannOther assets owned by the individualnThe personal guarantee of a consigner on the loan32/64Copyright 2004 何自云何自云 商业银行世界商业银行世界（Http:/）Two additional CsnCustomer relationships and competition.nA banks prior relationship with a customer reveals info about past credit an

45、d deposit experience that is useful in assessing willingness and ability to repay.nCompetition has an impact by affecting the pricing of a loan: Undercut competitors rates in order to attract new business.33/64Copyright 2004 何自云何自云 商业银行世界商业银行世界（Http:/）Evaluation proceduresnJudgemental and credit sco

46、ring.nWith a pure judgemental analysis, the loan officer subjectively interprets the info in light of the banks lending guidelines and accepts or rejects the loan. nWith a pure quantitative analysis, or credit scoring model, the loan officer grades the loan request according to a statistically sound

47、 model that assigns points to selected characteristics of the prospective borrower.nAccept/reject thresholdsnGap: a decision is made based on judgemental factors34/64Copyright 2004 何自云何自云 商业银行世界商业银行世界（Http:/）Credit scoring: plus v.s. minusnThe benefits include:nLower costs if scoring and decision ma

48、king are done mechanicallynTimely decisionsnAvoidance of discriminationnThe primary difficulty:nThe credit scoring models must be statistically verified and continually updated, which can be expensive. 35/64Copyright 2004 何自云何自云 商业银行世界商业银行世界（Http:/）商业银行法商业银行法中有关贷款的规定中有关贷款的规定n第第35条：条：“商业银行贷款，应当实行审贷分离

49、、商业银行贷款，应当实行审贷分离、分级审批的制度。分级审批的制度。” n第第36条：条：“商业银行贷款，借款人应当提供担商业银行贷款，借款人应当提供担保。经商业银行审查、评估，确认借款人资信保。经商业银行审查、评估，确认借款人资信良好，确能偿还贷款的，可以不提供担保。良好，确能偿还贷款的，可以不提供担保。”n第第37条：条：“商业银行贷款，应当与借款人订立商业银行贷款，应当与借款人订立书面合同。合同应当约定贷款种类、借款用途、书面合同。合同应当约定贷款种类、借款用途、金额、利率、还款期限、还款方式、违约责任金额、利率、还款期限、还款方式、违约责任和双方认为需要约定的其他事项。和双方认为需要约定

50、的其他事项。” 36/64Copyright 2004 何自云何自云 商业银行世界商业银行世界（Http:/）贷款利率与比例管理贷款利率与比例管理n第第38条：条：“商业银行应当按照中国人民银行商业银行应当按照中国人民银行规定的贷款利率的上下限，确定贷款利率。规定的贷款利率的上下限，确定贷款利率。n第第39条：条：“商业银行贷款，应当遵守下列资商业银行贷款，应当遵守下列资产负债比例管理的规定：产负债比例管理的规定：n资本充足率不得低于资本充足率不得低于8%n贷款余额与存款余额的比例不得超过贷款余额与存款余额的比例不得超过75%n流动性资产余额与流动性负债余额的比例不得流动性资产余额与流动性负债

51、余额的比例不得低于低于25%n对同一借款人的贷款余额与商业银行资本余额对同一借款人的贷款余额与商业银行资本余额的比例不得超过的比例不得超过10%。” 37/64Copyright 2004 何自云何自云 商业银行世界商业银行世界（Http:/）关系人贷款与银行贷款自主性关系人贷款与银行贷款自主性n第第40条：条：“商业银行不得向关系人发放信用贷款；商业银行不得向关系人发放信用贷款；向关系人发放担保贷款的条件不得优于其他借款向关系人发放担保贷款的条件不得优于其他借款人同类贷款的条件。人同类贷款的条件。n前款所称关系人是指：商业银行的董事、监事、前款所称关系人是指：商业银行的董事、监事、管理人员、

52、信贷业务人员及其近亲属；前项所管理人员、信贷业务人员及其近亲属；前项所列人员投资或者担任高级管理职务的公司、企列人员投资或者担任高级管理职务的公司、企业和其他经济组织。业和其他经济组织。”n第第41条：条：“任何单位和个人不得强令商业银行发任何单位和个人不得强令商业银行发放贷款或者提供担保。商业银行有权拒绝任何单放贷款或者提供担保。商业银行有权拒绝任何单位和个人强令要求其发放贷款或者提供担保。位和个人强令要求其发放贷款或者提供担保。”38/64Copyright 2004 何自云何自云 商业银行世界商业银行世界（Http:/）执行担保所获财产的处置执行担保所获财产的处置n第第42条：条：“借款

53、人到期不归还担保贷款的，借款人到期不归还担保贷款的，商业银行依法享有要求保证人归还贷款本金商业银行依法享有要求保证人归还贷款本金和利息或者就该担保物优先受偿的权利。商和利息或者就该担保物优先受偿的权利。商业银行因行使抵押权、质权而取得的不动产业银行因行使抵押权、质权而取得的不动产或者股权，应当自取得之日起二年内予以处或者股权，应当自取得之日起二年内予以处分。分。”n第第43条：条：“商业银行在中华人民共和国境内商业银行在中华人民共和国境内不得从事信托投资和证券经营业务，不得向不得从事信托投资和证券经营业务，不得向非自用不动产投资或者向非银行金融机构和非自用不动产投资或者向非银行金融机构和企业投

54、资，但国家另有规定的除外。企业投资，但国家另有规定的除外。”39/64Copyright 2004 何自云何自云 商业银行世界商业银行世界（Http:/）贷款通则（征求意见稿）贷款通则（征求意见稿）n贷款按期限长短划分为短期贷款、中期贷款和长贷款按期限长短划分为短期贷款、中期贷款和长期贷款。期贷款。 n贷款按有无担保划分为信用贷款和担保贷款。贷款按有无担保划分为信用贷款和担保贷款。 n担保贷款包括保证贷款、抵押贷款、质押贷款。担保贷款包括保证贷款、抵押贷款、质押贷款。 n第第25条：条：“贷款人自主审查和决定贷款，有权拒贷款人自主审查和决定贷款，有权拒绝任何法人、其他组织或自然人强令其发放贷绝

55、任何法人、其他组织或自然人强令其发放贷款。款。”n第第26条：条：“贷款人应告示所经营的贷款种类、期贷款人应告示所经营的贷款种类、期限和利率水平，并自接到贷款申请之日起限和利率水平，并自接到贷款申请之日起30日内，日内，答复借款人的借款申请受理与否。答复借款人的借款申请受理与否。” 40/64Copyright 2004 何自云何自云 商业银行世界商业银行世界（Http:/）贷款管理贷款管理n第第27条：条：“贷款人应对借款人账户、资产、财务贷款人应对借款人账户、资产、财务状况等商业秘密以及个人隐私等情况保密，但法状况等商业秘密以及个人隐私等情况保密，但法律另有规定或当事人另有约定的除外。律另

56、有规定或当事人另有约定的除外。”n第第29条：条：“借款人无法按照合同约定归还一个或借款人无法按照合同约定归还一个或多个贷款人的一笔或多笔贷款时，所有贷款人都多个贷款人的一笔或多笔贷款时，所有贷款人都可以按照合同约定要求其提前还款。可以按照合同约定要求其提前还款。”n第第30条：条：“在贷款授信额度确定后，对未使用的在贷款授信额度确定后，对未使用的授信额度，贷款人应根据合同的相关规定，收取授信额度，贷款人应根据合同的相关规定，收取一定比例的承诺费和其他相关费用。一定比例的承诺费和其他相关费用。” 41/64Copyright 2004 何自云何自云 商业银行世界商业银行世界（Http:/）贷款

57、管理贷款管理n第第43条：条：“贷款人应当对单一借款人及其关联企贷款人应当对单一借款人及其关联企业的贷款与承诺、承兑、担保等表内外业务统一业的贷款与承诺、承兑、担保等表内外业务统一确定综合授信额度，集中控制风险。确定综合授信额度，集中控制风险。”n第第47条：条：“贷款人应当根据贷款风险状况将贷款贷款人应当根据贷款风险状况将贷款分为正常、关注、次级、可疑和损失类。贷款人分为正常、关注、次级、可疑和损失类。贷款人应当及时催收逾期的贷款。对项目贷款和公司贷应当及时催收逾期的贷款。对项目贷款和公司贷款根据逾期天数将贷款分为逾期款根据逾期天数将贷款分为逾期90天、天、180天、天、270天、天、360

58、天和天和360天以上五个档次进行统计，并天以上五个档次进行统计，并作为贷款质量分类的重要参考指标。对零售贷款作为贷款质量分类的重要参考指标。对零售贷款应比照上述规定对逾期天数作更细致的划分。应比照上述规定对逾期天数作更细致的划分。”42/64Copyright 2004 何自云何自云 商业银行世界商业银行世界（Http:/）贷款管理贷款管理n第第48条：条：“对借款人不能依照合同约定归还贷款对借款人不能依照合同约定归还贷款本息或不能落实还本付息事宜的，贷款人应当及本息或不能落实还本付息事宜的，贷款人应当及时进行债权保全，必要时可以依法在新闻媒体披时进行债权保全，必要时可以依法在新闻媒体披露或采

59、取诉讼等法律措施。露或采取诉讼等法律措施。”n第第49条：条：“贷款人可以接受借款人、保证人、抵贷款人可以接受借款人、保证人、抵押人或出质人以非货币资产作价偿还贷款。作价押人或出质人以非货币资产作价偿还贷款。作价金额不足以清偿贷款本息的，借款人应当继续清金额不足以清偿贷款本息的，借款人应当继续清偿未偿还部分；作价金额超过未清偿贷款本息的，偿未偿还部分；作价金额超过未清偿贷款本息的，贷款人应当向借款人支付超出部分的价款。贷款贷款人应当向借款人支付超出部分的价款。贷款人取得的非货币资产，应当遵循审慎原则及时处人取得的非货币资产，应当遵循审慎原则及时处置。置。”43/64Copyright 2004

60、 何自云何自云 商业银行世界商业银行世界（Http:/）贷款转让贷款转让 n第第62条：条：“贷款转让，包括保留追索权的贷款转贷款转让，包括保留追索权的贷款转让和不保留追索权的贷款转让。受让方保留追索让和不保留追索权的贷款转让。受让方保留追索权的贷款转让，转让方应在表外记载，按照或有权的贷款转让，转让方应在表外记载，按照或有负债的有关规定管理和披露。负债的有关规定管理和披露。”n第第64条：条：“贷款受让方必须是经国务院银行业监贷款受让方必须是经国务院银行业监督管理机构批准可以从事贷款业务的金融机构。督管理机构批准可以从事贷款业务的金融机构。除此之外的贷款转让，必须经国务院银行业监督除此之外的