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ID:59570708
大小:374.50 KB
页数:35页
时间:2020-11-12
《德勤-信用风险(英文版)电子教案.ppt》由会员上传分享,免费在线阅读,更多相关内容在教育资源-天天文库。
1、德勤-信用风险管理(英文版)ValuePropositionCreditplaysacriticalrolein“selling”productsandservicesExpandsrevenueopportunitieswithcreditworthy,incrementalcustomersUtilizesinnovativestructurestosupportbusinessrelationshipsEffectivecreditriskmanagementlimitscreditlossesandprovidesstablecashflowsan
2、dearningsMarketplacerewardscompaniesexhibitingearningsandcashflowstabilitywithhigherP/EmultiplesMarketplacepenalizescreditinducedvolatilityand“surprises”RaisesquestionsaboutqualityofmanagementCorporateCreditRiskCompaniesareexposedtosignificantlevelsofcreditriskemanatingfromdiffere
3、ntsourcesAccountsReceivablesOtherNotesReceivablesBuyerandFranchiseFinancingWithRecourseFinancingProjectFinanceStructuredTransactionsLeaseswithRecourseDerivativesExposuresFX,InterestRateRisk,Commoditiesetc.CollateralRiskParentorThirdPartyGuaranteesCommercialandStandbyLettersofCredi
4、tNotealsothatCriticalSupplierstothecompanymayposespecificcreditriskDSOImpact…anexampleActualCompanyAPeerAverageQ3A/R$295,396,000Q3Sales$261,201,000DSOs=12451.3HypotheticalDCashDSOs51.3Q3Sales$261,201,000Q3A/R=$122,002,230+$173,393,770Equals295.4M/261.2Mx90(ornumberofdaysinsalesp
5、eriod)CreditasaFacilitatorCreditriskmanagementisimportantCreditisafacilitatorofbusinessgrowthandperformanceHighbusinessmarginstendtoattractlowerqualityclientsandthereforehigherriskprofiletomanageClients(buyers)maybeconcentratedinselectedindustriesandprovidelimitedportfoliodiversif
6、icationopportunityPoorcreditriskmanagementresultinginnegativeimpacttobottom-lineisheavilypenalizedbymarketsCreditStrategy&RiskToleranceSpecificQuantifiableObjectivesManagementReviewMethodologyCreditStrategyStatementandRiskToleranceCoordinationwithBusinessPlanThebusinessstrategiesa
7、ndobjectivesdrivetheestablishmentofcreditpoliciesandprocedures.Measurementandreportingaswellastheuseofcurrenttechnologiesenhancecreditdecision-makingandimproveriskmanagement.Theentireprocessiscontinuallyre-evaluatedandimproved.CreditRiskAreastoConsiderCreditPolicyCreditApprovalAut
8、horityLimitSettingPricingTermsand
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