3.1. Credit terms of content and relationship
The credit is supposed to be "old and complex phenomenon, because, he is old and older are human need and various goods and complex because, involves risks different ways of procuring, issuing, processing and recovery term integralǎ and costing generates.
According to the explanatory dictionary of Romanian language credit is a relationship (economic) cash that is established between a natural or legal person (lender), which granted a loan of money or selling goods or services on credit, and other natural or legal person ( debtor), which receives the loan or buy on credit, loan (reimbursable basis and subject to the usual payment of interest); creditor claim, monetary obligation, the duty credit; value, the amount of money that a creditor fails as refundable his debtor.
By definition of bank loan is a loan with an interest payment and price anumitǎ credit on time anumitǎ provided aceastǎ amount rambursatǎ life be refunded or above the predetermined period.
Loan means the operation which takes immediate stǎpânire resource in return for a promise of future repayment, normally accompanied by payment of interest. Relationship credit available and raising capital represent cash savings or money market financial-banking. The basic elements of loan aimed directly and indirectly made available monetary resources of those involved in understanding the credit.
The credit is the result of agreement between creditor and debtor, one gives money to collect money lent and the other based on a contract basis and guarantor or other property accepted by the creditor. Lending operations can produce relationships between individuals in the form of simple personal agreements and transactions made in the form of the loan contracts.
Creditor and the debtor is generally the bank is a company or person Physical and credit is a real debt of debtor to creditor. The loan can take many forms: debt, debt in exchange for promissory notes, credit lines, bank înprumuturi, reschedule payments. Need and the credit event in any economy is an objective, which is in turn generated by the objective nature of micro and macro economic reproduction. Mobility and distribution of such resources through loan capital is in ultimǎ court legatǎ obiectivǎ need to effectively use financial resources as the economy.
3.1.1. Credit function
Here are some of functions of credit, making credit a starting point, both financially and altǎ-kind, with the primary aim of establishing a competitive forms of financing:
- Business credibilizarea less known;
- Contributing to the increase in real capital by encouraging better use of production factors or the availability of funds when other production mişloace Injury;
- Contributing to the formation of production units forming large companies and corporations are more easily;
- Accelerate business transactions or to offset certain transaction more difficult;
- Increases the rotational speed of the currency and contribute to its sizing;
- Exercising influence on consumption.
Money familiar with the process of generalization that is, capital market development tends toward a single, currency and credit apǎrând new products tends to diversify the bank with a market financiarǎ ratǎ convenabilǎ as for credit applicants.
The credit can be grouped according to several criteria: type of property that private or public address, the duration of the: spot, forward, how to guarantee destination: consumption, production, operating, upgrading, investing.
Overall condition of the credit "financing sources direactă own or indirect if that is a bank deposit which is used together with other bank deposits to buy bonds from the firm or parts of real estate assets in the investment of capital, bank mediating this funding. "
3.1.2. Trǎsături typical credit
Credit features are common to all types of credit loans both to individuals and legal persons for loans or corporate loans. Components of credit to be listed and explained below.
1. Topics credit report, creditor and debtor shows a big difference in terms of membership in social and economic structures, the reasons of taking credit report and during his employment but is particularly apparent several groups of customers who are individuals, legal persons State corporations and even money that is sometimes needed.
2. Promise of reimbursement, an essential element of the credit report, risky, and requires, therefore, often employing a security. The relationship of credit risk are:
- Default risk is the likelihood of late payment or failure to payment rates due dificienţelor aces borrower assume responsibility.
- The risk of property occurs at the bank, or deposit holder who is unable to meet the demands of the holder of deposits, due to a failed management of loans.
- Personal security is a commitment to pay third party debt, instead of turning initially insolvent debtor. If simple guarantee, the guarantor is entitled to discuss the fulfillment of its obligation, to require enforcement of the debtor and, if there are more codebitorii which to respond only to part. If joint security guarantor can be held liable to pay, jointly, or even before the debtor, if present conditions apparently preferable solvency.
3. The term of repayment of the loan is a specific feature and. lies between 24 hours later charged between banks on world markets, and even with time over 30 years if the housing loan. For short-term loans, business loans, or consumer loans, a repayment in full is required at maturity. Medium and long term loans are repaid monthly, yearly or quarterly.
4. Interest is the price of credit and credit claims with its restutirea currency loan. Interest is an essential feature of the loan and also calculate the rate when there is a phenomenon indeispensabil credit.
5. Transaction or the actual granting of credit where credit can be agreed within a single transaction, a loan, a bond sale, hiring a warehouse. Recently opened credit system was developed in which actual borrowing occurs freely chosen by every debtor.
3.1.3. Loan classification
Loans are more felurii and requires their classification into categories by default principles advance. "We define ways, instead of forms, because their relationship stronger side than spiritual or intellectual credit side of the material, body or space."
Demarcation criteria are the main types of credit:
- Subjects relationship lending: the lender and borrower;
- Subject to credit and scope of use;
- Source of borrowed funds,
- Duration of relationship lending.
Loan classification can be made according to several criteria:
1. Classifying loans by way of reimbursement:
- Credit redeemable at which reimbursement is equal or unequal installments, comprising or not, as applicable, and interest;
- Specific Credit depreciable which full repayment is in arrears;
- Credit repayable by annuities constant;
- Credit repayable by constant rates;
- Loan fully repaid at maturity.
2. Classification of crediting period:
- Short term loans: a period not exceeding 12 months
- Medium or medium term loans: are loans whose repayment date is 3-5 years.
- Long-term loans: are loans whose repayment period exceeds five years even within 30 years at BT.
3. Classification of loans by borrower quality:
a) Loans granted to individuals:
- Cash Credit
- Housing loan
- Personal credit
- Consumer credit
b) Credit granted to legal persons:
- Operating Credit
- Cash Credit
- Pre-financing credit
- Loan of equipment
- Credit Leasing
4. Credit quality classification by creditor:
- Commercial Credit
- Bank credit
5. Classification by purpose of granting credit:
- Production credits
- Traffic officer
- Consumer credit
6. Classification of loans by way of loan guarantee distinguish:
- Real loan guarantees and capital;
- Personal loan without collateral trust.
Loans should be very diverse and the BT offering a chance to those who want something new or who have a way of funding special.
Divide the loan types listed above are included in the platform officer of BT but if housing loan offer BT has reached a specific product portfolio while maintaining all other bank in the field or even providing customers exclusixitate certain serious or good payers.
3.1.4. Credit policy
Credit policy serves to define the standard BT and organizational objectives, the business of lending, covering technical aspects of protection and credit portfolio under management BT also serves to maintain an atmosphere appropriate internal proper course of business.
To overcome the weaknesses in the business of lending banks should develop credit policies based legal to commit or prepare loan officers who understand and accept the discipline of the bank credit policy.
In development policy lending, bank senior management must go through several stages:
1. Classification based on the loan portfolio, according to credit quality (Standard, substandard, in observation, doubtful and loss) to identify market segments favorable or unfavorable for BT and their performance, BT will decide which market segments will be abandoned.
2. Is predetermined underlying causes losses or gains from BT and set the strengths and weaknesses of bank debt and credit policy successes of the period under review.
3. Assessing risks and has taken BT. It notes that only those managers who maintain a position of balance between profits and risks assumed unable to overcome difficult moments.
4. The next step would be answering a series of government economic policy questions such as:
- Which economic sectors will be supported by the government through subsidized credit;
- What influence have executive options on the exchange rate;
- What instruments of monetary policy by the central bank will be used to support the economic policy pursued by the executive.
5. BT penetration decisions on different market segments based on knowledge of existing and potential competitors and finding compromise solutions with them.
Credit policy to be well founded to meet monetary and credit developments in the state determined, but depends on the current political and economic situation is also important to rely on ANY bank people with clear political vision to lead and decide according to existing rules also where lending standards were lipsurii or escape to know how serious are the consequences of a bad credit also know how to avoid unpleasant situations in relation to people who can influence lending periculoşii otherwise, always be found an alternative that is closer to financial objectives pursued Of course the extent of the law.
3.2. Considerations on credit risks
Where there should you request a credit to the many specific risks of the banking system and even BT offers its loans when you need to establish provisions for loans to old customers at risk from non-payment of loans granted by them before the crisis. Avoiding bank fraud is by "prudential supervision of credit institutions and financial investment services companies and the oversight of payment and settlement systems for financial instruments." Longer reach and "enforcement" where appropriate according to regulations.
Bank credit risk management is much broader than a simplǎ loan transaction. "It extends the scope of the concerns include issues relating to fund three phases, perhaps the most important process of creditǎrii" namely:
- Decision-making procedure of credit;
- Process the loan repayment period;
- Credit portfolio management.
Lending is a high importantǎ activity, to which his creditor there should provide sound information and documentation to avoid and recover losses due to bad credit risk management. "The one persoanǎ cautǎ sǎ aibǎ sigurǎ situation, much will be May sǎracǎ viaţǎ." This shows that a risk still exists but a small, controllable, participants assumed the loan. Where money is one of nesiguranţǎ dozǎ but careful if we can not fail noastrǎ or against any of the others.
"For the prevention and sanctioning money spălǎrii was established National Office for Preventing and Combating Money Spălǎrii. It analyzes the information on suspicious transactions and notify the competent authorities in this regard. If we analyze the risks and find the easiest possible to determine financial and criminal people will have to cooperate, and formal institutions are concerned with such cases.
Another way to identify the risks a company may be determined by "internal audit" and a favorable score (low risk) may give the company an additional şansǎ in getting a loan.
Risk management process begins by decoding required by the various banking products and observing why investors undertaking the guarantees offered for mortgage, contractor profile, maybe even a criminal record may be requested to highlight suspicious referituare the investor profile. Then they should be compared with the bank's risk profile. If the bank's risk profile is less reluctant than the risk profiles identified, then the bank as a whole, has a value of synergy, positive for shareholders. To identify and assess the risk of a range of banking products or banking activity, managers must identify all situations that may cause significant financial loss.
03.03. And interest rate
Interest is the amount of money you must pay the borrower (debtor) lender (creditor), to use money held in the latter, until their restitution. If the loan lender is a bank or other financial institution and borrower is the client or person or entity that borrows ..
Interest plays an important role in the mechanism operating economy, perform the following functions:
- Influence the allocation of production factors;
- Way to boost both the population and firms in saving a portion of income;
- Ground to ensure recovery of costs incurred and making a profit;
- Leverage the redistribution of income.
Curentǎ Interest will be calculated from the date efectuǎrii first drawdown on the loan account balance on credit calculǎrii employee interest. The course of the loan, current interest level variables change depending on developments referinţǎ index LIBOR / EURIBOR / ROBOR.
Banks also use quotation index ROBOR EURIBOR 3M and 3M to determine benchmark interest rate on loans and its progress can be seen in Figure 3.1-figura3.2. showing a decrease due to central bank intervention and that the European Central Bank to restart lending directly interested.
Fig. 3.1. 3M Graphics ROBOR the evolution from 2009 to 2010.
Fig. 3.2. Graphic evolution EURIBOR 3M 2009.
"Interest is calculated and charged monthly at fixed maturities, with the rate of credit." Size is calculated by weight and interest rate.
The interest rate is "the price paid to have one year to 100 monetary units. It represents the ratio between the absolute magnitude of annual interest paid and loan. "Or" relative mǎrimea express themselves through interest rate "
Interest is an important contribution in the credit and credit is the price. The most important distinction of interest is fixed interest rate differential between variabilǎ.
Fixed Interest rǎmane unchanged during the credit or deposit all due up. If a fixed deposit with dobândǎ, for example, once you know the deposit amount will be accrued in interest, you'll receive at the end or its maturity.
Variable interest rate which is calculated periodically (usually at 3 months) depending on the evolution of market interest. This interest gives the creditor the opportunity to defend against loss resulting to him from setting an unchanged interest to grant credit in a period of rising interest.
Simple interest is paid on income or paying a capital service provided it is not capitalized but for a specific period. When the loan or deposit not exceeding one year, calculate the "simple interest"
where:
Ds = simple interest amount
Ko = invested capital
rd = annual simple interest rate
t = time a year for which the loan is granted
Kv = realized capital
Dobâda compusǎ represent "income paid or paying for service or a capital primitǎ in terms of its capitalization. It also involves processing equity interest in primates, thus leading to calculate interest on interest "
As details of the APR% (Interest Anualǎ Efectivǎ, next to a include interest and fees and commissions) also may be charged only consumer loans, the loan can not exceed EUR 20000 can not apply for housing loans, loans for rehabilitation of property for renovation of commercial buildings, offices. APR does not include spending incerţii borrowers or those in dispute, the fee tabulation, keeping in mind labanca Costs that, expenditure warranty insurance, or other unforeseen Costs.
Interest anualǎ efectivǎ, further denumitǎ APR represents the total cost of credit expressed as an annual percentage of the total loan amount granted including fees and charges, the APR is importnantă calculating the final cost of the loan but interest on loans not covered pemtru housing.
3.4. Fees
Commission is the second basic component of income from bank lending operations. They are quite diverse and are intended to cover bank charges arising from a series of complementary activities and much needed credit themselves.
BT class credits are encountered in these types of commissions.
1. Commission to issue a unique analysis promises guarantee is 0.15% applied to unilateral promise value issued by bank credit (loans for First Home from BT).
2. Registration fee in the Electronic Archive of Security Interest which is paid orcum orcum not specified nicăierii, is also considered an additional cost (charged to credit is first house on BT and BT to other credits).
3. Bank transfer fee from the buyer at the seller's account or cash withdrawal fee to pay the seller of the property consideration, as appropriate, to reach EUR 100-150 to 400-500 euros, depending on the bank and type of operation.
4. Commission is a commission that is investigating the real estate loan at 1.5% for both BT credit in RON / EUR / USD fee is deducted from this fee redactactare documents but only if that loan is approved.
5. Charge of drafting documents is EUR 200 fee payable to BT and if the client does not meet some reason the credit requested.
6. Fee Credit (zero if the real estate mortgage or BT) is a commission peceput one time fee charged when the credit.
7. Management fees (from BT to charge for such cards and credit fee is charged this fee) are also collected during the course of other bank loans.
8. Commissions Risk (has a value of approximately 0.5% for mortgage or car acreditelor from BT) is a perceived comosion course credit.
9. Commissions "penalty" is charged as the loan holder does not meet the initial loan with interest is charged eventula.
10. Prepayment fee is calculated on the amount repaid early with a value exceeding 1% of loan amount under the new regulation (zero for first house loan from BT)
11. Late fee is levied to pay rates where the owner fails to reimburse the loan rates for credit contracted.
12. Rescadenţare commission, loan rescheduling from BT is 1% of the credit rescadenţat, rescheduled and is required only where there is a rescheduling of the loan.
13. Modified contractual fee charged if customer demand changes to the initial credit agreement.
14. Assessment fee is a fee charged by authorized appraiser to determine the collateral (the credit is zero LEI First House from BT).
15. Monthly management fee is charged to the first disbursement of the loan and calculate the amount of credit (0.2% / month for first house loan from BT)
16. Management fee payable FNGCIMM: 0.37% per annum, calculated on the balance of funding from BT Credit First House.
The course of the loan, the bank may change the fees without the consent of Borrower, within regulations. The level of fees is displayed at the premises of the bank or in writing by letter or statement issued to customers for free, BT counters.
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