1、 外文翻译 原文 Post-Disbursement Management Material Source:Economic behavior and organization Author:Laurie Michael 1. Credit Review Credit review refers to a banks on-going monitoring and analysis of its credit clients and the relevant factors that can influence safety of the clients credit asset. Throu
2、gh credit review a bank can find out early warning signals as early as possible and take remedial measures. The process of credit review includes collecting clients credit information, reviewing clients current status, credit business progress, and security status in line with the information. After
3、 reviewing, the bank should know whether its clients are still qualified borrowers, whether their financial, operation and credit statuses have been deteriorated, whether there are any events that may incur material and negative impacts on clients repayment capabilities. After credit review, the ban
4、k will find out early warning signals, can take remedial measures and mitigate risks. At the same time, relevant reports should be prepared to record the review process. Credit review consists of client review, credit risk review and security review. A. Client review i. For corporate clients, client
5、 review includes the review of: * A clients basic status. Is the client still a qualified borrower? It is a precondition for the client to borrow from a bank. * A clients operation status. Analyze the clients current profitability and repayment and their trends via understanding the clients internal
6、 enterprise development as well as its industrys development. * A clients internal management level. * Information of how a client uses its loans and the clients credit history. * A clients financial status. Credit officers should take the clients industry and regions average financial status levels
7、 into consideration when analyzing the clients historical financial data. Based on it, credit officers can measure and forecast the clients repayment capabilities. * Progress of Material Events. If a client involves itself with some material events, such as restructuring, foreign investment, fixed a
8、sset investment, and litigation, its operation, management, profits, loan repayment capabilities will be materially affected. Therefore, a bank must pay close attention to those events. ii. For personal clients, when reviewing personal credit businesses like housing mortgage, auto consumption and CD
9、 pledge, credit officers should firstly monitor the client to see whether his repayment is in time, proactive and sufficient. Then they should pay attention to the relationship between the borrower and the sales merchant. B, Credit risk review In the process of credit review, a bank should not only
10、pay attention to a borrowers qualification and overall financial status of operation and management, but also notice particularities of different credit products. Strict supervision and monitoring must be in place to produce early warning for particular risks of different products. * Credit risk rev
11、iew of fixed asset loans. * Credit risk review of working capital loans. * Credit risk review of foreign currency loans and RMB packing loans. Because foreign exchange rate risk may be involved in these loans, a bank must monitor the risks and take preemptive measures. * Credit risk review of L/C bu
12、siness without 100% security. * Credit risk review of guarantee products. The focus is to review that whether under the guaranteeing conditions, the client can serve the obligations (responsibilities) or not. * Credit risk review of acceptance products. The focus is to review the truthfulness of a t
13、rade between a client and its counterpart and whether a client has sufficient funds for repayment on maturity. C. Security review Security is the credit support for a client and is the secondary source of repayment. Credit associates and officers should often review the status of guarantor and secur
14、ity and analyze the guarantors repayment capabilities and the level of liquidity of security. A bank should review and forecast that once the primary source of repayment cannot serve its obligation, it can effectively exercise the right. 2. Early Warning Signals Early warning system or procedure is
15、designed to warn of a potential or an impending problem. Early warning signals are omens or symptoms that a client may not be able to repay the principal and interest in time or service the loan. When the early warning system sends out signals, situations may be that a client has an undue loan in in
16、terest and part of its principal, or that there are no arrears from a client yet, or that a bank has not issued advance to its client yet. But signals show that risks might exist or risks might be extended. Therefore, in the process of credit review, credit associates must identify those early warni
17、ng signals showing the asset quality of a client has already or is about to be influenced. Credit associates should report their findings to credit officers as early as possible, take relevant measures and try to eliminate the potential risks of credit loss. A. Early Warning Signals (Financial) * In
18、crease in sales volume but decrease in profit. * Rapid increase in debt, in particular, abnormally rapid increase of short-term bank credit. * Unexplainable increase of receivables and inventory. * Shift from profit to loss, loss volume increases gradually. * Abnormal fund transfer in large amount b
19、etween related enterprises. * Increase of non-performing loan loss. * Dramatic decrease of net cash flow volume or even negative net cash flow volume, which cannot support normal business operation. * Payment crisis. B. Early Warning Signals (Non-Financial) i. Early warning signals of management (or
20、 external policy) Great fluctuations in its stock price. Security accidents or leakage of secrets that inflict heavy losses or great personnel changes. Merge unfamiliar business, new business or start business in unfamiliar regions. New laws or regulations promulgated by government, which are disadv
21、antageous to a client. Be involved in significant lawsuits, arbitration, and economic disputes and normal operation and repayment are adversely influenced. * Plan to undergo Merger authorizations and due execution; non-conflict with law; the validity and enforceability of the borrowers obligations u
22、nder the agreement: exchange control and other governmental consents; filings and registrations; taxes and stamp duties and (b) the financial and commercial position of the borrower, including, the correctness of the borrowers most recent accounts and any information memorandum; the absence of mater
23、ial adverse changes in the financial conditions, defaults under other contracts, or material litigation involving the borrower. These representations and warranties may be required to be correct as of certain dates or “evergreen“, i.e., true so long as the loan is outstanding. Covenants: Covenants r
24、elate to the management of the borrowers business and restricting its freedom of action. * Negative Pledge: restriction on the grant by the borrower of security interests in favor of other creditors. A simple form states: “So long as any principal or interest is outstanding under this agreement, the
25、 borrower will not create or permit to subsist any mortgage, charge, pledge, lien or other encumbrance on its assets or revenues.” Since an absolute negative pledge will interfere with the borrowers normal commercial operations, there is some relaxations * Pari Passu (ranking equally) Clause which m
26、ay be as follows: The obligations of the borrower under this agreement are its direct, unsecured, general and unconditional obligations and rank pari passu with all its other present and future unsecured and unsubordinated obligations. * Disposals Clause which may be as follows: The borrower will no
27、t sell, transfer, lease or otherwise dispose of all or a substantial part of its business or assets whether by one transaction or a series of transactions related or not. Events of Default: This provision enables the lender to take action to collect the entire amount of the loan or cease lending new
28、 funds if certain event occurs which makes it unlikely that the borrower will be able to pay the loan according to the agreed terms if the borrower does not comply with the agreement. Common events of default include: * Non-payment i.e., failure to pay principal, interest or other amounts when due.
29、* Non-compliance with the borrowers other obligations under the agreements. * Breach of warranty. * Cross-default: the borrower fails to perform obligations contained in other agreements entered into by him. Governing Law and Jurisdiction: The loan agreement will specify what body of law will govern
30、 it and which jurisdiction in which lawsuits to enforce the loan agreement may be brought. Waiver of Sovereign Immunity: Sovereign immunity refers to the general rule that a sovereign state, its political sub-divisions, agencies and instrumentalities are immune from jurisdiction of a countrys court.
31、 However, exceptions exist for claims arising from commercial activities of the foreign state and situations where the foreign state has waived its rights of sovereign immunity. The waiver gives the lender an assurance that he can invoke the legal system of the country involved with the loan to assi
32、st him to obtain repayment of the loan. 译文 信贷管理 资料来源： Economic behavior and organization 作者： Laurie Michael 1信用检查 信用检查是指在发放贷款以后，银行需要持续监控和分析借款人以及有可能影响客户借贷资产安全的因素。通过信用检查，银行可以及时发现危险信号，尽早采取措施。信用检查程序包括搜集客户信用信息、检查客户当前状况、检查信贷发放过程以及贷款的安全状况。通过检查，银行就会知道其客户是否还符合借款条件，客户的财务、运营和信用状况是否恶化，以及是否存在影响借款人偿还贷款的事项。信 用检查之后
33、，银行就能够及早发现问题，并采取补救措施化解风险。与此同时，相关检查报告还可以记录检查过程。 信用检查通常包括客户审查、信用风险审查和担保审查三部分。 A客户审查 i对于企业客户，客户审查包括以下几点： 客户基本状况。该客户是否仍然符合借款条件？这些条件是客户能够从银行取得贷款的前提。 客户运营状况。通过分析客户内部发展情况和其所在行业的发展，了解客户的利润状况、发展趋势和偿还贷款的可能性。 客户内部的管理水平。 有关客户对贷款的使用情况以及客户信用历史记录的信息。 客户的财务状况。 信贷员在分析客户的历史财务数据时应该参考客户所在行业和地区的平均财务水平。只有以此为基础，信贷员才能对客户的偿
34、贷能力有很好的把握和预测。 重大事项。当客户有影响资产、现金变动的重大事项，如公司重组、海外投资，固定资产投资、诉讼、公司运营、管理层和利润的变动时，都可能会对客户的偿贷能力产生重大影响，因此银行必须密切关注银行这些方面的变动。 ii对于个人客户，在检查对个人客户的贷款业务，如住房抵押贷款、汽车消费贷款和大额定期存单抵押贷款时，信贷员首先应该查看客户是否按时、主动、全额还贷。此外，还应该注意借款 人和经销商的关系。 B信用风险的审查 在信用检查过程中，银行不仅应该关注借款人的资格、运营和财务状况，还应该注意不同信贷产品的差别。严格的监管和监控必须要注意不同信贷产品特有的风险特性。 固定资产货款
35、的信用风险审查。 运营资本贷款的信用风险审查。 外币和人民币混合贷款的信用风险审查。由于外汇汇率的变动会对该类贷款产生影响，因此银行必须监控该类风险，如有必要应尽早采取相关降低风险的措施。 审查没有提供 100担保的信用证业务的信用风险。 审查担保贷款产品的信用风险，重点审查担保条件是否满足，借款人 能否承担义务和责任。 承保产品信用风险的审查，重点是审查客户和其交易对象之间贸易合同的真实性，以及检查客户是否有充足的资金来按期偿还银行贷款。 C担保审查 担保是贷款人向客户提供贷款的重要因素，也是客户偿还银行贷款的第二个资金来源。信贷助理和信贷员应该经常审查担保人和担保物的情况，分析担保人偿还贷
36、款的能力以及流动性的安全程度。银行应该经常审查并评估偿还贷款的第一资金来源是否能够按期足额偿还银行贷款，银行应该认真有效地完成对担保的审查。 2预警信号 预警机制和程序的设计应该以潜在的或即将出现的问题的提前 预警为目的。预警信号应能及时反映客户不能按时偿还银行本金和利息的情况。当预警机制向银行发出预警信号时，客户可能还有未偿还的利息与部分本金，或客户已经偿还所有银行的欠款，或者银行没有进一步向其客户发放贷款，预警信号表示该客户存在风险，或许风险还会进一步扩展。因此在信用审查中，信贷助理可以识别那些预警信号，而预警信号则反映出客户的资产质量已经或正在发生变化。信贷助理应该尽早地向信贷员汇报他们发现的情况，并采取相关措施，以尽可能消除现在的贷款风险。 预警信号（财务方面） 随着销售量的增加，公司利润却在减少； 债务快速增加，尤其是银行短期贷款非正常地快速增加； 应收账款和存货以不可解释的原因非正常增加； 公司由盈利转为亏损，而其亏损呈逐步上升态势； 相关企业之间非正常的巨额资金转移；不良贷款损失不断增加； 净现金流急剧减少，甚至出现负的现金流，以致不能维持企业的正常运营； 支付危机。 B预警信号（非财务方面） i管理方面的预警信号（或内部政策）
