抵押品评估和信用风险管理

CollateralEvaluationand

CreditRiskManagement

抵押品评估与信用风险管理1.WhyisCollateralEvaluationImportant?为什么抵押品评估重要2.TypesofCollateralandRegulatoryPitfalls抵押品种类和法规缺陷3.EvaluationofCollateral(RealEstate)抵押品评估（房产）4.EvaluationofCollateral(OtherAssets)抵押品评估（其他资产）5.ProtectionofCollateral抵押品保护CreationofSecurityInterest担保利益的创立PerfectionofSecurityInterest担保利益的完善6.CollateralManagement抵押品管理CollateralManagementforCreditRiskManagement信用风险管理中的抵押品管理SafeguardingtheEnforcement维护强制执行7.EnforcementofCollateral抵押品的强制执行8.ExtinguishingSecurityInterestinCollateral抵押品利益的终止Contents目录WhyisCollateralEvaluationImportant?

为什么抵押品评估很重要？

WhyisCollateralEvaluationImportant?

为什么抵押品评估很重要？Themoreaccuratetheevaluation,themoreenhancedcreditriskmanagementinplace.对抵押品的评估越是准确，信贷风险的管理的准确性就越高

LargeactualloanlossexceedingtheestimatedLGDcouldleadtoaseriousdepletionofbank’sequitycapital.实际贷款损失如果大大超过预计的违约损失率会导致银行的自有资本严重损耗。FundingCost资金成本OperatingCost运营成本ExpectedLoss(PD×LGD)预计损失UnexpectedLoss非预期损失(RequiredReturn×AllocatedEconomicCapital)ValueAdded价值增加MARGIN利润价格PRICEByreducinglossgivendefault,thebankcanreducethemarginwithoutreducingvalueadded.通过降低违约损失，银行可以降低利润而不降低价值增加部分。EL:ExpectedLoss预计损失PD:ProbabilityofDefault违约概率LGD:LossGivenDefault违约损失率UL:UnexpectedLoss非预期损失WhyisCollateralEvaluationImportant?

为什么抵押品评估很重要LGDisestimatedfromdefault-weightedaveragelossrateduringacertaintimeperiod.违约损失率可以通过一段时间内的加权平均违约损失率估计出来Lossrateisgivenby:损失率计算方法Toreduceaveragelossrate,banksneedtocollectonthedefaultexposureasmuchasandasfastaspossible.为了降低平均损失率，银行应该尽快收回尽量多的资产。Ifabankdoesnotproperlyestimatecollateralvalues,thecollectionupondefaultwouldbecomesmallerandtakealongerperiodoftime,leadingtoadepletionofcapitalandlowerprofits.如果银行不能准确估计抵押品价值，违约后能够收回的价值就降低了，所需要的时间也更长，导致资本损耗了利润降低。1-PVatthedefaultdateofrecoveries

+PVofcostsassociatedwithcollecting回收物在违约日的现值+会收的相关成本的现值EAD(Exposureatdefault)违约风险暴露WrongCollateralEvaluation错误的抵押品评估HigherWright-offs更高的坏帐核销CapitalWaste资本浪费HigherLGDEstimation增高违约损失率HigherProvision更高的坏账损失LowerProfits利润更低PV:Presentvalue现值RoleofCollateralinFinancialIntermediationI

抵押品在金融中介活动中的作用ICollateralstabilizesfinancialintermediation抵押品稳定金融中介活动Collateralbetteralignsinterestsofthelenderandborrowerbecause:抵押品更好的使出借方和借用方的利益达成一致Thelendercanmaximizethesafetyofrepayment出借方可以使收回借款的可能性最大化Theborrowerwillminimizetherisktaking借用方可以使承担的风险最小化Withoutcollateral如果没有抵押品:Thelenderwillsolelyrelyonborrower’scash-flowgeneratedbytheproject(business)fortherepayment.出借方只能依靠借用方项目（营业）产生的现金流来偿债Theborrowertendstotakemorerisksintheproject(business),whichmaycauseinstabilityingeneratingcash-flow.借用方会承担项目（营业）更大的风险，这会导致无法生产足够的现金流Therewillbemorevulnerablebanksandmoreriskybusinessesintheeconomy,otherwise,resultinginshallowfinancialintermediation.经济环境中会产生更危险的银行和更有风险的行业，这样也会缩减金融中介活动。RoleofCollateralinFinancialIntermediationII

抵押品在金融中介活动中的作用IILender出借方(specifically)EncouragewillingnessofpaymenttoreducePL.鼓励出借方进行借款降低损失SubstitutetherepaymentstoreduceLGD.代替还款降低违约损失率Protectsagainstborrower’sover-borrowing.保护出借方不至于过度借债Borrower借用方(specifically)Accesstocredit:letborrowersmonetizetheirilliquidassetstoraisefunds获得融资：借用方可以抵押他们的非现金资产来获取资金CostofCredit:potentiallyreducefundingcostsforthelowerELcalculatedbythelender融资成本：潜在的降低了融资成本，因为出借方计算出的预计损失较低Overcomingasymmetricinformationproblems:accesstofundseveninafinanciallydifficulttime,orevenwithoutauditedfinancialreports解决了信息不对称问题：即是财务困难时期，或者没有审计后的财务报表，也可以获得融资EL:ExpectedLoss预计损失PD:ProbabilityofDefault违约概率LGD:LossGivenDefault违约损失率UL:UnexpectedLoss非预期损失2.TypesofCollateralandRegulatoryPitfalls

抵押品种类和法规缺陷

WhatisCollateral?

什么是抵押品Undermoderncollaterallawsystems,collateralcanbeanyassetwhichproducesfuturecashflowdirectlyorindirectly,andcanbecreatedbyanylenderandborrower,inanypresentorfutureassetsandinalltransactions,tosubstitutepaymentsforapartortheentireoutstandingdebtupondefault.在现代担保法体系中，抵押品可以是任何直接或间接产生现金流的资产，也可以是由任何出借方和借用方创造出来的，在违约时用现有或将来的资产以及交易中代替偿还部分或全部借款Underunreformedcollaterallawsystems,therewouldbevariousconstraintsonassettypeseligibleforcollateral,onpersonsorlegalpersonsqualifiedtocollateralagreements,orontheenforceabilityofsomecollateral,duetothelackofefficacyandintegrityofthesystem.在创新性的担保法体系中，由于系统缺乏有效性和不统一，其中有很多对抵押品资产形式，可以签署担保合同的个人和法人，或者是对抵押品的强制性实权的限制条件CollateralLawsandCollateralTypes

担保法和抵押品种类CollateralLaw担保法Independentandcomprehensive“collaterallaw”israre:generallycollaterallawisasystemwhichisconstitutedbyseveralrelevantlawsandregulations.独立和综合的担保法很少见：通常担保法由一些相关法律和法规组成Extentofcollateral抵押品范围After-acquiredproperty事后取得的财产Proceeds收益Supportingobligation相关义务UnmovableCollateral不动抵押物RealProperty:LandandBuilding房地产：土地和建筑物PlantandEquipment车间和设备NaturalReserves自然资源Timbertobecut待采伐的木材Goods物品Consumergoods消费品Farmproducts农产品Inventory存货Equipment设备Fixtures固定设备Accessions添加物Intangibles无形资产Negotiableinstrument流通票据Documentoftitle物权凭证Investmentproperty投资财产Account(bookdebt）应收款GeneralIntangibles一般无形资产Otherkindsofcollateral其他抵押品Depositaccounts存款帐户Lifeinsurancepolicy/health-careinsurancereceivable人生保险/应收健康保险金Source:Collateral,CollateralLawandCollateralSubstitutes,B.BalkenholandH.Schutte,SocialFinanceProgramme,WorkingPaperNo.26,p17来源：抵押品，担保法和担保替代品3.EvaluationofCollateral(RealEstate)抵押品评估估（不动产产）PrinciplesofCollateralEvaluation抵押品评估估原则Collateralevaluationisnottofindanaccurate,uniqueprice,buttofindapriceandlogicwhicharerealistic,practical,andacceptablebyordinarymarketparticipants.抵押品评估估并不是为为了寻找一一种精确的的，唯一的的价格，而而是找到一一个合理的的、实际的的、能够被被普通的市市场参与者者接受的价价格和方法法。Evaluatecollateralonthebasisofthemarketvalueratherthanbookvalue.抵押品的评评估是依据据市场价值值而非帐面面价值Applythemostconservativeevaluationmethod.采取最保守守的评估方方法Ifpossible,collateralpropertyshouldbelocatedwithinadistancebankofficerscantakefrequentvisits.如果可能，，担保资产产应该放在在银行人员员可以经常常看得到的的地方Watchthemarketpriceifit’’srisingfast:apricebubblemaybedeveloping.如果市场价价格增长很很快，那么么小心市场场价格，可可能存在价价格泡沫。。BasicsofLandCollateralEvaluation土地抵押品品评估基础础Step1:Estimateapriceparsquaremeter/feeteitherby:估计每平方方米/英尺价格方方法：(1)Thesalescomparisonapproach市场比较法法(2)Theincomecapitalizationapproach(mainlyforleaseproperties)收益还原法法（主要用用于出租场场地）(3)Thecostapproach(incaseofhousesandbuildings)成本法（用用于房屋和和建筑物））Step2:Adjustthepricebyfactorsuniquetotherealestate用房地产业业独有的因因素来调节节价格(1)Usageoftheproperty房地产的用用途(2)Trendsofrealestateprice房地产价格格趋势(3)Conditionsoftheproperty/natureofthesurroundingarea房地产的环环境/附近地区的的自然状况况(4)Legalissues法律问题SalesComparisonApproach市场比较法法Ifrecenttransactionsorsellspricesforthesimilarrealestateareavailableinthecity,townorvillage,thesalescomparisonapproachprovidesgoodestimates.如果可以获获得所在城城市、城镇镇或乡村最最近同类房房地产的交交易或销售售价格，那那么市场比比较法可以以提供很好好的预测。。PriceB(2,450$/m²)PriceA(2,000$/m²)PriceC(1,900$/m²)Weighted-averageofAandB(PriceD)A和B的加权平均均价格UnadjustedestimatedPriceE($/m²²)?调整前价格格Note:Eachpricepointsshouldnotbeseparatedbyamajorstreetorriver,whichaffectthepricedifferences注：每个价价格点不能能被主要街街道或河流流分割，这这会影响价价格150m50m70m30m(PriceA×30)+(PriceB×70)(PriceD×150)+(PriceC×50)SalesComparisonApproach:Example市场比较法法：举例EvaluatethelandpriceE.估计土地E价格ThreerecentrealestatetransactionsaroundE.最近E的附近有三三个交易A:$2,000,B:$2,450,andC:$1,900Onthemap,locatepriceDbetweenAandB在地图上找找到A和B之间的价格格DDistancesbetweenthesepointsare:这些地点的的距离A-D:70m,D-B:30m,D-E:50m,andC-E150m.ThendollarpriceparsquaremeterofEwillbe:E的每平方米米价格是PriceD=70+30PriceE=50+150=2,315($/m²²)=2,211($/m²)IncomeCapitalization收益还原法法IFindageographicallyweighted-averagerentpriceperunitoflandinthesamewaybefore.和市场比较较法一样，，找到每单单位土地的的加权平均均出租价格格RentpriceB(320$/month)RentpriceA(350$/month)RentpriceC(360$/month)Weighted-averageofAandB(priceD)A和B加权平均价价格EstimatedrentpriceE估计E出租价($/month?)Note:Eachpricepointsshouldnotbeseparatedbyamajorstreetorriver,whichaffectthepricedifferences每个价格不不能被主要要街道或河河流分割，，这会影响响价格40m10m30m15mCalculatethepresentvalueoftherentincomeforthecertainfutureperiod.计算将来一一短时间内内的租金收收入的现值值Incomecapitalizationapproachusingrentsmaybeusedinasituationwherealoanofficerknowsthepropertyconcernedhasacertainvalueforthemarket,butthereisnowaytoreasonablyestimateandexplainthevalueduetothelackoftransaction.使用收益还还原法时，，贷款主管管知道土地地的市场价价格，不过过如果没有有类似交易易的时候，，就没有办办法合理估估计和解释释价值了。。Theestimatedvaluemaybemuchlowerthanapotentialmarketvalue(additionalmarginforvaluationuncertainty).估计的价值值可能远低低于潜在的的市场价格格（由于价价格的不确确定性而需需要附加利利差）Itdependsonbank’sloanpolicy,buttimehorizonshouldbelimitedto10to12years.这取决于银银行的贷款款政策，不不过一般的的时间跨度度应该在10-12年以内IncomeCapitalizationII收益还原法法Annualrent––(maintenancecost+propertytaxes)年租金-（维护成本本+房产税）PV=Σ(1+r)nPV:Presentvalue现值Annualrent年租金(336××12)––(maintenancecost维护成本300)(PriceD×40)+(PriceC×10)(PriceA×15)+(PriceB×30)IncomeCapitalizationApproach:Example收益还原法法：举例PV=Σ(1+0.08)tEvaluatethelandpriceE.估计土地E的价格Monthlyrentsofthethreeleasingpropertiesare三个出租场场地的月租租金分别为为:A:$350,B:$320,andC:$360DistancesbetweenthesepropertiesareE到这三个场场地的距离离分别是:A-D:30m,D-B:15m,D-E:10m,andC-E40m.Usingtheaboveinformation,estimatedrentpriceEwillbe使用上述信信息，估计计E的出租价格格是:Assumetheannualmaintenancecostincludingpropertytaxesis$300,interestrateis8%,andyoucalculateupto10years,thenestimatedcollateralvalueis:假设包括房房产税的年年维护成本本是$300,利率*%，计算10年的估计担担保价值是是RentD=30+15RentE=10+40=330($/month)=336($/month)t=110=25,042($)PV:Presentvalue现值IncomeCapitalizationApproachIII收益还原法法Basicconceptofthecapitalizationrate收益还原法法的基本概概念“Thecapitalizationrateitselfisafunctionoftheinvestor’’sdesiredreturnandacombinationofthecostsofdebtandequityemployedinmakingtheinvestment.”(Bower2001)还原原率率是是投投资资者者希希望望获获得得的的收收益益率率，，和和借借款款和和股股权权投投资资的的成成本本。。Factorsaffectinginvestors’’desiredreturnonrealestates影响响投投资资者者对对房房地地产产期期望望收收益益的的因因素素Culture,economictrends,otherinvestmentpropertytype,otherinvestmentopportunities,etc.文化化、、经经济济趋趋势势，，其其他他投投资资财财产产，，其其他他投投资资机机会会等等Inpractice在实实践践中中Themostsimplifiedwayistouseavailableloaninterestratesforsuchaninvestmentasacapitalizationrate.最简简单单的的方方法法是是使使用用类类似似投投资资的的借借款款利利率率作作为为还还原原率率Wheninterestratesareusedasacapitalizationrate,loanofficersmustbeawarethattheinterestratedoesnotincludenecessaryreturnsfortakingrisksinherenttotheinvestment,hence,theoutcomeovervaluestherealestate.如果果利利率率为为用用作作还还原原率率，，借借款款主主管管必必须须知知道道利利率率中中没没有有包包括括这这项项投投资资所所承承担担风风险险所所对对应应的的回回报报，，计计算算结结果果会会高高估估价价值值。。Source:Understandingrealestatevaluesinarisingmarket——BriefArticle,GeraldA.Bower,2001/p/articles/mi_m3601/is_29_47/ai_71565185PriceAdjustmentI价格格调调整整Usageoftheproperty房产产用用途途Own-useresidentialproperty自用用住住宅宅Mostuseful最有有用用的的Own-usefarmandforestland/factoryandwarehouse自用用农农场场和和林林地地/工厂厂和和仓仓库库Theincomecapitalizationapproach收入入还还原原法法Residential/businesspropertyforlease出租用住住宅/商用房产产物业Incomecapitalizationapproach收入还原原法Rentpricesintheneighborhood附近社区区的出租租价格Futureoccupancyrateestimation未来占用用率预计计Residentialleasingpropertyandbusinessleasingproperty出租住宅宅物业和和商用出出租物业业Forsale出售Speculativeinnature投机性PriceAdjustmentII价格调整整Trendsofrealestateprice房地产价价格趋势势Salesandtransactionprices销售和交交易价格格Informationfromneighbors邻近地区区的信息息Informationfromexperts,brokers,salesregistries,andmortgageregistries专家，经经纪人，，销售登登记和抵抵押登记记机构的的信息Incomelevelofthearea该地区的的收入水水平Demandandsupplyconditionsofthemarket市场的供供求情况况Publishedlandpricesandtaxrates公布的土土地价格格和税率率Regionaldevelopmentplan地区发展展计划Availabilityofmortgageloan/foreignlandownership是否存在在抵押借借款和外外国土地地所有权权PriceAdjustmentIII价格调整整Conditionsoftheproperty/natureofthesurroundingarea周边地区区的房产产/自然情况况Geographicconditions,suchas,closetothecoast,river,cliffs,orlocatedontiltedland,inadip,ontheweakstratum地理情况况，例如如，靠近近海滩，，河流，，悬崖或或者位于于倾斜的的土地上上，地层层不牢固固。Sizeoftherealestate房地产的的规模Shapeoftherealestate房地产的的形状Locationoftherealestateintheblock房地产在在街区的的具体位位置Accessibilitytothepublicroads是否可以以方便地地到达公公共道路路Accessibilitytopublicandcommercialfacilities是否可以以方便的的到达公公共和商商业设施施Existenceofunfavorablefacilities是否存在在不良设设施Municipalservicesavailable是否有市市政服务务PriceAdjustmentIV价格调整整Legalissues法律问题题Easements:restrictions,encumbrances,leases,reservations,covenants,contracts,declarations,specialassessments,ordinances,orotheritemsofasimilarnature.地役权：：限制，，妨碍，，租赁，，保留，，限制性性条款，，合同申申明，特特别估价价，法令令或者其其他类似似性质“Eminentdomain””:incommonlawcountries,thegovernmentmayhavetherightstobuyrealpropertywithouttheowner’sconsentforthepurposesofpublicusage,suchaspublicutilities,highway,airport,andrailroads.征用权：：在普通通法系国国家，政政府有权权力不经经过所有有者的同同意购买买房地产产用于公公共用途途，例如如公共设设施，高高速公路路，机场场和铁路路。Legitimacyofbuildings(illegalconstruction/usage)建筑物的的合法性性（非法法建筑/使用）Whatarethemostmajormethodstoevaluaterealestatecollateralinyourcountry?你们国家家最主要要的房产产抵押评评估方法法是什么么？Note:Whentheabovelegalissuesareinvolved,thepriceofthepropertycoulddropsubstantially.注意：当当涉及到到以上法法律问题题时，房房地产的的价格可可能会大大幅降低低4.EvaluationofCollateral(OtherAssets)抵押品评评估（其其他资产产）CollateralEvaluationI抵押品评评估FarmProduct/Inventory农产品/存货Marketpricebasis依据市场场价格Interviewwithmajorbuyers采访主要要买家Marketliquidity市场流动动性Marketsize市场规模模Marketvolatility市场波动动幅度Perishableproducts容易腐烂烂变质的的产品Dealerlistings,marketsalesreports经销商清清单，市市场销售售报告Locationofthestorage存储场地地CollateralEvaluationII抵押品评评估MobileVehicle机动车Secondhandcarmarketpricebasis二手车市市场价格格Interviewwithexpertsanddealers采访专家家和经销销商Maker,type,popularity,market,incaseofinventory如果是存存货：制制造商，，种类，，普及程程度，市市场Age,depreciationschedule,unpaidtaxes,priorlien,incaseofequipment设备：使使用年限限，折旧旧时间，，未交纳纳的税款款，之前前的留置置权Government’simporttaxpolicyorotherpoliciesaffectingmarket政府的进进口税政政策和其其他影响响市场的的政策CollateralEvaluationIII抵押品评评估Intangibles无形资产产Negotiableinstrument:validityoftheinstrument,obligor,creditrating,maturity,typeoftransaction:collateral/repurchaseagreement/discount流通票据据：票据据的有效效性，债债务人，，信用等等级，交交易类型型：担保保/回购合同同，折扣扣Documentoftitle:billoflading:validityofthedocument,locationoftheproperty,quantity,species/variety,measure/weight,valueperunit,quality,condition,schedule,aswellasmarketabilityandmarketprice.物权凭证证：提单单：单据据的有效效性，财财产所在在地，数数量，种种类/品种，尺尺寸/重量，单单位价值值，质量量，条件件，时间间表以及及可销售售性和市市场价格格InvestmentProperty:issuer,creditrating,marketprice,marketvolatility,(maturity),OTC/exchange投资财产产：发行行者，信信用等级级，市场场价格，，市场颇颇动幅度度（到期期日），，场外交交易/交易方式式Account(bookdebt):obligors,theextentofdiversification,thelengthofterms,agingschedule,thepastdefaultrate应收款：：债务人人，多元元化程度度，期限限长度，，帐龄时时间，过过去的违违约情况况Generalintangible:variabilityoftheright(document),termsandconditions,restrictionscontainedinthedocument,marketability,etc.一般无形形资产：：所有权权（单据据）的可可变性，，条款和和条件，，文件中中的限制制条件，，可销售售性，等等5.ProtectionofCollateral抵押品保保护CreationofSecurityInterest担保利益益的产生生Elementstocreatevalidsecurityinterest:担保利益益产生的的要素Thedebtorhasrightsinthecollateral*债务人对对抵押品品有所有有权Asecurityagreementmustbeauthenticatedbythedebtor担保合同同必须由由债务人人Asecurityagreementmustcontainadescriptionofthecollateral担保合同同中必须须包含对对抵押品品的描述述Asecurityinterestcannotattachunless“value”isgiven*除非给定定“价值值”否则则不能附附加担保保利益“Avalue”insecurityagreement担保合同同中的““价值””Avalueissetinaccordancewithanamountintendedtocoverexistingorfuturecreditoutstandinginpartorintotal.价值要要能够够达到到现有有或将将来的的部分分或全全部贷贷款额额OtherIssues其他问问题Inter-creditoragreement贷款机机构间间协议议Pari-passucharge比例平平等抵抵押Creationofsecurityinterestalonecannotpreservecreditor’’spriorityoverliencreditorsandothersecuredpartieswithaninterestinthesamecollateral.仅仅使使用担担保利利益不不能保保证债债权人人可以以优先先于留留置债债权人人和其其他对对抵押押品有有权力力的债债权人人*Basedon:LawinaNutshell:Securedtransactions,RichardB.Hagedorn,ThomsonWest,2007,p57,92,95PerfectionofSecurityInterest担保利利益的的完善善Afterperfectionthesecuredpartyisprotectedagainstothercreditorsandtransfereesofthedebtorandinparticular,againstanyrepresentativeofcreditorsininsolvencyproceedingsinstitutedbyoragainstthedebtor.*在完善善担保保利益益之后后，被被担保保方的的利益益对其其他债债权人人和债债务人人的转转让方方是被被保护护的，，特别别是在在债务务人破破产时时，对对其他他债权权人代代表而而言。。Dependingonthejurisdiction,differentcollateralmayhavedifferentrulesforperfection根据权权限，，不同同的抵抵押物物有不不同的的完善善规则则Perfectionuponattachmentalone单独附附加的的完善善Temporaryperfectionincertaincollateral特定抵抵押物物的暂暂时完完善Perfectionbypledgeorpossessorysecurityinterest通过抵抵押或或拥有有担保保利益益来完完善Perfectionbyfiling(registration)归档（（登记记）完完善Perfectionwherefilingisrequiredunderaspeciallaw特定法法律规规定需需要通通过归归档来来完善善Perfectionbypublicnotice(example:newspaperadvertisement)通过公公告来来完善善（例例：报报纸广广告））*Basedon:LawinaNutshell:Securedtransactions,RichardB.Hagedorn,ThomsonWest,2007,p1236.CollateralManagement抵押品品管理理CollateralManagement抵押品品管理理CollateralManagement抵押品品管理理Collateralmanagementincludestworiskmanagementconcepts:抵押品品管理理包括括两项项风险险管理理概念念(1)Collateralmanagementforcreditriskmanagement信贷风风险管管理的的抵押押品管管理(2)Safeguardingtheenforceability强制行行使权权的保保护CollateralManagement抵押品品管理理CollateralManagementforCRM抵押品品管理理SafeguardingtheEnforceability保护强强制行行使权权SafeCustody/CollateralBook保管/抵押品品登记记册CreditFile信贷档档案RecordKeeping档案记录Revaluation/Reappraisalagainstcreditexposure根据信用风险险再评估/再评价Numbering/Tagging编号/标签MaturityManagement到期管理Renewalofsecurityinterest更新担保利益益Periodicalcheckofinventory定期实物检查查CreditFile信用档案IRecordKeeping档案管理Appraiser’sname,theeffectivedateoftheevaluation,andsignatureandaddress(whentheevaluationisoutsourced)鉴定人名称，，评估的有效效日期，千字字和地址（当当评估是由外外部人员完成成的）Descriptionofthecollateral抵押品描述Realestate:ownership,location,shape,condition,developments,pictures,maps,neighborhood,usage,acopyofconstructionapproval,attachedeasement,etc.房地产：所有有者，位置，，形状，环境境，发展状况况，照片，地地图，附近情情况，用途，，建筑批准书书复印件，附附属物，等Goods:locationofthegoods,quantity,species/variety,measure/weight,valueperunit,quality,condition,schedule商品：物品所所在地，数量量，种类/品种，尺寸/重量，单价，，质量，情况况，时间表Intangibles:pledgor,amount,quantity,thirdpartyobligor,attachedsecurityinterest,etc.无形资产：抵抵押人，金额额，数量，第第三方债务人人，附加担保保利益，等Descriptionoftheevaluationmethodemployed对所用评估方方法的描述Descriptionofthesourceinformationusedintheevaluation评估中信息来来源的描述Anestimatedvalueofthecollateralandtheopinionoftheloanofficerontheevaluation抵押品的估计计价值，以及及贷款主管的的对评估的意意见Source:InteragencyAppraisalandEvaluationGuidelines,FDIC,1994CreditFile信用档案IIReappraisal重新评估Collateralshouldberegularlyrevalueddependingonthecollateraltype.抵押品应该根根据担保种类类有规律的进进行重新评估估Collateralvalueshouldbeconstantlymonitoredagainstcreditoutstanding.抵押品价值应应该经常与未未还贷款进行行比对Frequencyofreappraisaldependsonthemarketcondition重新评估的频频率应该根据据市场情况决决定Realestate(revaluation):every6monthsor12months房地产（重新新评估）：每每6或12个月Realestate(on-sitesurvey):everymonthor3months房地产（实地地调查）：每每1或3个月Farmproduct:everyweekormonthdependingonthemarket农产品：根据据市场情况每每周或月Inventory:dependingonthemarket存货：根据市市场Mobilevehicle:every3monthor6month机动车：每3或6个月Intangibles:dailybasisifmark-to-marketisrequired(dependingonthetypeoftransaction)无形资产：如如果必须按市市价调整，则则每天进行（（根据业务种种类）CreditFile:Example信用档案：举举例Typeofloan贷款种类Originalamountorcreditline金额/信用额度Loanproceedsoutstanding剩余借款Loancreditoutstanding剩余信用额度Typeofcollateral抵押品种类OriginalCollateralEvaluation出示抵押品评估LatestCollateralEvaluation最近抵押品评估Haircut折扣CollateralValue抵押品价值TermloanATermloanBRevolvingline循环贷款额度501203010950109530Land土地Building建筑物Receivable应收款PublicGuarantee公共担保Timedeposits定期存款1105040109040401012401002500540301012Total105(A)135Total(B)106UnsecuredBalance不安全余额(A)-(B)29Borrower:ABCTradingCo.InternalCreditScore:4BExternal:n/aAsof:Mar08借款方：ABC贸易公司，内内部编号：：4B，外部：不适适用，日期：：3月8日Thousand$Afterevaluationoflandandbuildingthefollowingcredit/collateralbalancetableisupdated.Howdoyouinterpretthetableandwhatshouldbedone?在评估了土地地和建筑物之之后，更新贷贷款/担保余额表，，你怎样理解解这张表和需需要做什么SafeCustody/CollateralBookI保管/抵押品登记册册SafeCustody保管Inordertosafeguardandprotecttheenforceabilityofsecurityinterest,(1)collateralagreementand(2)pledgedgoodsanddocumentsshouldbeputinasafecustody.为了保管和保保护担保利益益的强制行使使权，必须安安全保管(1)担保合同(2)抵押品和文件件Collateralagreement(togetherwithotherrelevantlegaldocuments,recordofregistry,fireinsurancepolicyforcollateralizedbuildings*,etc.)maybekeptinorderbyborrowername担保合同（和和其他相关法法律文件，登登记档案，担担保建筑物的的火灾保险书书）可以按照照借款方名字字有序保管Pledgedgoodsanddocumentsmaybekeptbytype抵押品和文件件按种类保管管Collateralsforwhichlimitationperiodormaturitydateiscriticalshouldbekeptinorderbysuchdate.有期限或到期期日临近的抵抵押品应该按按照日期排放放Limitedaccesstothesafecustody应该限制人员员接近保管场场所Protectionfromnaturaldisaster避免自然灾害害Note:Fireinsurancepolicyforcollateralizedbuildingmaybekeptseparatelyinorderbyexpirationdatebecauseoftheimportanceoftheexpirationdatemanagement.注意：担保建建筑物的火灾灾保险书应该该按照期满日日单独排列，，因为管理保保险到期日很很重要。SafeCustody/CollateralBookII保管/抵押品登记册册CollateralBook抵押品登记册册Roleofcollateralbookincludes(1)administratingthecollateralinventory,and(2)managingtheexpirationoflimitationperiodandthematuritydateforcertaintypesofcollateral.抵押品登记册册的作用包括括：(1)管理担保存货货(2)管理部分有有有效期限和到到期日的抵押押品Collateralbookshouldbecreatedseparatelyforeachtypeofcollateral.每种类型的抵抵押品应该有有单独的登记记册Collateralbookshouldassignanumberforeachpledgedgoodsanddocumentsfortheadministratingpurpose.出于管理的需需要，抵押品品登记册应该该分配给每个个抵押物和文文件一个号码码Pledgedgoodsshouldbesturdilytaggedwithanoteindicatingnameofpledgor,borrowernumber,date,collateralnumber,etc.抵押物应该牢牢固的粘上标标签，上面写写明名字，借借款人号码，，日期，抵押押品代码，等等Collateralbookshouldbemanagedbyseniormanager.抵押品登记册册应由高级经经理进行管理理Inventoryofcollateralshouldbecheckedagainstthecollateralbookperiodically(onceinamonth)担保实物应该该与登记册进进行定期核对对（每月一次次）Addingandremovingofpledgedgoodsfromthecustodyshouldberegisteredintheappropriatecollateralbook*.保管场所增加加或者转移抵抵押物都应该该在对应的登登记册上登记记Note:Whenacceptingandreturningcollateral,receiptshouldbeissuedtoandreceivedfromtheborrowerbythebank,whichshouldindicateconcernedgoodsanddocumentsindetail:type,number/quantity,date,withsignature.注意：当接受受和归还抵押押品时，应该该交给和收回回借款方收条条，收条上应应该写明相关关物品和文件件的明细：种种类，数字/数量，日期，，签名SafeCustody/CollateralBookIII保管/抵押品登记册册Maturityforcertaintypesofcollateral部分抵押品的的到期Negotiableinstrumentssuchasdraft,certificateofdeposit,andpromissorynotehavematuritydate.有到期日的流通通票据，例如如：支票，定定期存款，期期票Inaccordancewiththecollateralagreement,suchnegotiableinstrumentsneedtobesettledwithoutdelay.根据担保合同同，流通票据据应该立刻兑兑现Expirationforcertaintypesofsecurityinterest担保利益的到到期Dependingonjurisdictionandontypeofcollateral,aperfectionofsecurityintere