Problem Loan Workout and Debit Restructuring for SME s in Egypt
|
|
- Chester Manning
- 8 years ago
- Views:
Transcription
1 Problem Loan Workout and Debit Restructuring for SME s in Egypt Course Hours: 24 Course Code: Objectives The principal objectives of this programme are to provide delegates with a developed understanding of the Early Warning Signals that indicate problems confronting SME corporate clients operating in Egypt, as well as methods in early problem loan workouts for SME companies in distress. The overall aim of the latter is for relationship managers and the banking team responsible for monitoring the SME client company salvage the problem loan and thus avoiding corporate recovery. EWS and problem loan analysis will be undertaken from a full 360 degree holistic approach to credit risk including both quantitative and well as strategic, managerial and qualitative analysis. The workshops will use a range of case study companies located in Egypt, to provide the core learning tools for this SME problem loan course. We will be drawing on a range of international best practise for SME problem loan workout and applying these to the context of the existing business environment in Egypt. Aim It is assumed that the professional experience of the delegates attending this course is intermediate to senior and therefore basic credit and EWS analysis will be assumed knowledge although we will be revisiting key areas of ratio analysis as part of the theoretical credit risk review. The workshop will focus heavily on the successful and practical implementation of this theory with real life scenarios through case study analysis. The aims include: Assessing different types of SME loan default Assessing when the loan needs to be restructured, the company turned around, or put into Corporate Recovery Understanding when a situation can be salvaged and when it can t. Implementing a practical 10 point plan for effective restructuring of the SME loan Understanding and identifying strategies for recovery for the SME Using cash flow forecasts to understand the feasibility of the SME s recovery strategy Implementing a company turnaround and steps required for a successfully recovery of the SME business Practical steps needed to alleviate a liquidity crisis in a defaulted company Corporate recovery and steps used internationally to accelerate claims against an SME company.
2 Day 1: Introduction to the aims of the course Session 1 Fundamental concepts in Debt restructuring Principal issues posed by non performing loans Assessing the fundamental impact on the bank of nonperforming loans Impact on the client Impact on shareholders and stakeholders Loan foreclosure versus debt restructuring the lose lose scenario Alternative to foreclosure Debt restructuring and the potential win win scenario The importance of immediate action and the risks of inaction Introduction to the 10 Point Plan for debt restructuring Organising the action committee Managing internal relations at bank level The importance of understanding the SME s business strategy and its importance in long term survival Session 2 Identifying problem loans before they turn bad the early warning signals using ratio analysis and quantitative analysis. Assess market problems and competitive forces Understanding competitive forces in the industry and client s position in the market Critical success factors and delivering success; Poor corporate governance Management inaction and examples from the Egyptian market The importance of trend analysis as part of ratio analysis Spotting off balance sheet items that will affect company risk profiles; Spotting ongoing capital expenditure needs and identifying methods of financing; Identifying potential corporate failure; Ratio analysis as a key tool in early warning: Key financial drivers and the need for constant vigilance The problems with overreliance on the financial statements. Developing underlying assumptions of quantitative analysis; Trend analysis and the importance of identifying the trend; The Z score and its use in identifying potential corporate failure Case Study: Review of an SME case study s financial statements whereby delegates will review the identify key EWS risks associated with the company going forward
3 Session 3 SME Overtrading and Working capital management The importance of good working capital management The impact of poor working capital management on company liquidity and survival Calculating the net working capital needs of the company Methods in improving working capital generation The importance of liquidity in distressed SME s Methods in improving SME liquidity and cash flow through improved working capital management Methods implemented by turnaround managers to increase liquidity in companies Case Study: during this session, the delegates will analyse the working capital needs of an SME and assess how working capital problems can threaten the going concern. They will also assess how the SME can increase its liquidity through intelligent working capital management. Session 4 - Identifying Risks and implementing strategies to mitigate credit risk Introduction to different risks in Emerging markets and the Middle East Credit risk, business risk, operating risk, management risk Risk identification in developing markets Risk profiling Risk mitigation through different strategies -- The use of the TARA model Risks associated with restructuring SME s Dealing with risk exposure and mitigating bank risk Case study: Completion of the full analysis and presentation of risk mitigation techniques for the SME case study company above. Delegates will divide into teams to assess the case study and present their findings to the rest of the group for discussion and analysis. Day 2: Session 1 Early Problem analysis of Macro and Qualitative factors for SME clients Understanding the big picture and potential pitfalls for the company Understanding a client s general business environment The application of the PESTEL model Understanding the company s SWOT Assessing the competitive forces at work in a client s company s industry with a view to understanding its ability to make profits Application of Porter s Five forces The assessment of the strength of a company s product and service portfolio and its chances of survival as a going concern
4 Product Life Cycle Portfolio Analysis International Offerings Session 2 EWS Qualitative Work Shop Workshop: Delegates in groups to undertake and present a qualitative analysis of an Egyptian family run SME company. Delegates to discuss potential areas of assistance in debt restructuring for the company. Session 3 When the company defaults Reviewing the 10 point restructuring plan and using Cash flow forecasts to understand the recovery plan Assessing what can be done to the client in default Review of the 10 point restructuring plan Believing the recovery story Revising the company s business plan Why cash flow forecasts and analysis is central to the SME s recovery The sources and applications of cash. Review of The Cash flow statement Cash flow from operating activities and importance of different cash flow items Free cash flow for debt service Analysis of the borrowing capacity of the client company The Debt Service Coverage Ratio and its role as a principal early warning signal Interest Coverage Ratio Session 4 Using cash flow forecasting and sensitivity analysis to assess the management s recovery plan Workshop: The delegates will spread the forecast cash flows of the principal case study question in order to assess the potential borrowing capacity of the restructured client going forward. The delegates, in their groups, will flex the cash flow forecasts using sensitivity analysis. The cash flow forecasts will form the basis of the restructured loan facility that the delegates will present in class. Day 3 Session 1 - Restructuring the loan Amend and Extend not Extend and Pretend Assessing when company can and cannot be saved Identifying the need to take action Assessing the costs of liquidation versus the costs of maintaining the going concern When a moratorium can be applied to save the day Implementing the Moratorium through the Standstill Agreement
5 Key concepts underlying the agreement and Automatic Stay Review of a draft Standstill Agreement Drafting the Standstill Agreement Workshop: The delegates will draft a Standstill Agreement for the SME case study developed during session 4 of day 2. The standstill agreement will be negotiated with a delegate team chosen to represent the interests of the company. The agreement of these negotiations will be presented in class Session 2 - International Best Practise in Problem Loan Workout and adaptation to the Egyptian market Assessing different restructuring methods in the EU and in the US Automatic stay and the rights of management and directors in insolvency Administration and Receivership in the UK and EU Chapter 11 administration in the United States Company Voluntary Agreements and their application in problem loan workout Pre packaged insolvency agreements Implementation of Turnaround Agents and strengthening client management Managing the turnaround process and the bank s involvement Maintaining the going concern Debt and Equity Swaps as a route to recovery Recovering the bank s exposure Assessing the return for the bank as part of the restructuring process Fees and margins amended for the work out scenario Workshop: The delegates will review case study examples of international best practise in action. They will also assess the option of debt and equity swaps and the process required to understand how the bank could recover its exposure through equity Sessions 3 & 4 Restructuring Business Case recovering the bank s exposure Workshop : During these final two sessions, the delegates will review a new real estate / retail case study based in Alexandria. They will identify the EWS associated with the problem loan and devise risk management techniques in order to assess which course of action will be needed to recover the maximum exposure possible from the problem loan client. They will then draft a Standstill Agreement and restructure the problem loan using forecast cash flows and the company s business plan to assess the value of the company and the debt service coverage going forward. The delegate project teams will then present their restricted deals to the rest of the class who will act as a credit committee. Course conclusion and evaluations
Decision on recovery plans of credit institutions. Subject matter Article 1
Pursuant to Article 101, paragraph (2), item (8) and Article 154, paragraph (2) of the Credit Institutions Act (Official Gazette 159/2013) and Article 43, paragraph (2), item (9) of the Act on the Croatian
More informationServices to Companies & Directors. www.kingslandbr.co.uk
Services to Companies & Directors At all stages of the economic cycle companies, businesses and individuals will invariably face difficulties and issues for which specialist advice should be sought. The
More informationProgramme Information
Programme Information Programme title Programme code Teaching mode NFQ level Programme (total) ECTS 5 Professional Certificate in Personal and Business Credit PCBUS004 Part-time Level 7 (Undergraduate)
More informationCorporate, Commercial and Business Lending
Corporate, Commercial and Business Lending The ifs School of Finance is a not-for-profit professional body and registered charity, incorporated by Royal Charter. ifs School of Finance MODULE SPECIFICATION
More informationGreater protection to essential supplies of insolvent businesses
Knowledge Greater protection to essential supplies of insolvent businesses Knowledge Olswang 1 Greater protection to essential supplies of insolvent businesses Briefing note on the Insolvency (Protection
More informationRecent measures for refinancing and restructuring Spain s corporate debt: Opportunities and impact on the banking sector
Recent measures for refinancing and restructuring Spain s corporate debt: Opportunities and impact on the banking sector María Romero and Itziar Sola 1 The high level of Spain s private debt, particularly
More informationMeet challenges head on
Meet challenges head on Deal Advisory / Global We can help you master Financial Restructuring. Enhancing value through financial restructuring. / 1 Your vision. Our proven capabilities. Despite its challenges,
More informationBusiness Restructuring & Insolvency Report
Published by TIMES Group First Edition 2015 Business Restructuring & Insolvency Report Restructuring is here to stay by Peter Wolterman and Koos Beke, PwC Netherlands We strongly believe that the restructuring
More informationAdvanced Asset Securitisation Programme Course Duration - 2 Days
Neueda customise all courses to ensure that the content matches your specific requirements. Please feel free to contact training@neueda.com to discuss options. Programme objectives In recent years, before
More informationFinal Assessment 1 of Spain's eligibility for an EFSF/ESM loan to recapitalize certain financial institutions
Final Assessment 1 of Spain's eligibility for an EFSF/ESM loan to recapitalize certain financial institutions Background On 25 June 2012, the Spanish Government applied for external financial assistance
More informationEBRD Non Performing Loans (NPLs) and Corporate Restructuring
EBRD Non Performing Loans (NPLs) and Corporate Restructuring Vienna, June 2015 EBRD Non Performing Loans (NPLs) and Corporate Restructuring EBRD and addressing Corporate NPLs EBRD s role in Corporate Restructuring
More informationCommunity Shares Practitioner Training and Licensing
Community Shares Practitioner Training and Licensing January 2016 Contents Introduction... 4 Becoming a licensed practitioner... 4 Other materials... 5 Skills Specification... 6 Functional analysis...
More informationTabletop Exercises: Allowance for Loan and Lease Losses and Troubled Debt Restructurings
Tabletop Exercises: Allowance for Loan and Lease Losses and Troubled Debt Restructurings Index Measuring Impairment Example 1: Present Value of Expected Future Cash Flows Method (Unsecured Loan)... - 1
More informationPrudential definition of assets: micro and macro prudential perspective
Prudential definition of assets: micro and macro prudential perspective Santiago de Chile November 2015 Presented by Salome Skhirtladze Authors: Giorgi Kadagidze, Otar Nadaraia, Salome Skhirtladze, Vakhtang
More informationCREDIT RISK MANAGEMENT IN INDIAN COMMERCIAL BANKS
CREDIT RISK MANAGEMENT IN INDIAN COMMERCIAL BANKS MS. ASHA SINGH RESEARCH SCHOLAR, MEWAR UNIVERSITY, CHITTORGARH, RAJASTHAN. ABSTRACT Risk is inherent part of bank s business. Effective risk management
More informationSummary of Restructuring Issues At Non-Profit and For-Profit Colleges. Joe D Angelo
Summary of Restructuring Issues At Non-Profit and For-Profit Colleges Joe D Angelo 2 Outline Restructuring Issues At Non-Profit and For-Profit Colleges I. Market: Non-Profit & For-Profit Colleges II. III.
More informationpractical problems. life) property) 11) Health Care Insurance. 12) Medical care insurance.
Training Courses Busisness Soluation For The Insurance Services Industry First: Professional Insurance Programs 1) Fundamental of Risk &Insurance. 2) Individual life Insurance Policies. 3) Group life Insurance
More informationCOMMERCIAL BANK. Moody s Analytics Solutions for the Commercial Bank
COMMERCIAL BANK Moody s Analytics Solutions for the Commercial Bank Moody s Analytics Solutions for the Commercial Bank CATERING TO ALL DIVISIONS OF YOUR ORGANIZATION The Moody s name is synonymous with
More informationRISK FACTORS AND RISK MANAGEMENT
Bangkok Bank Public Company Limited 044 RISK FACTORS AND RISK MANAGEMENT Bangkok Bank recognizes that effective risk management is fundamental to good banking practice. Accordingly, the Bank has established
More informationICAP GROUP S.A. FINANCIAL RATIOS EXPLANATION
ICAP GROUP S.A. FINANCIAL RATIOS EXPLANATION OCTOBER 2006 Table of Contents 1. INTRODUCTION... 3 2. FINANCIAL RATIOS FOR COMPANIES (INDUSTRY - COMMERCE - SERVICES) 4 2.1 Profitability Ratios...4 2.2 Viability
More informationCertificate in Construction Project Management
Certificate in Construction Project Management Duration: 6 Months Distance Learning Programme Language: English RICS Member: 895.00 + VAT Non RICS Member 995.00 + VAT Course Summary As a result of the
More informationEBA-GL-2015-02. 23 July 2015. Guidelines. on the minimum list of qualitative and quantitative recovery plan indicators
EBA-GL-2015-02 23 July 2015 Guidelines on the minimum list of qualitative and quantitative recovery plan indicators Contents EBA Guidelines on the minimum list of qualitative and quantitative recovery
More informationWhether you seek to BROADEN, DEEPEN, OR SIMPLY REFRESH YOUR SKILLS, Consider F nultima
Whether you seek to BROADEN, DEEPEN, OR SIMPLY REFRESH YOUR SKILLS, Consider F nultima F nultima Our trainers have successfully delivered training programmes for some of the top global organizations (
More informationRisk Management Programme Guidelines
Risk Management Programme Guidelines Submissions are invited on these draft Reserve Bank risk management programme guidelines for non-bank deposit takers. Submissions should be made by 29 June 2009 and
More informationFoundations in Financial Management (FFM) September 2016 to June 2017
Foundations in Financial Management (FFM) September 2016 to June 2017 This syllabus and study guide is designed to help with teaching and learning and is intended to provide detailed information on what
More informationArt or Science? Modeling and Challenges in the Post-Financial Crisis Economy
Art or Science? Modeling and Challenges in the Post-Financial Crisis Economy Emre Sahingur, Ph.D. Chief Risk Officer for Model Risk Fannie Mae May 2015 2011 Fannie Mae. Trademarks of Fannie Mae. 2015 Fannie
More informationOpportunity in leveraged companies
February 2015» White paper Opportunity in leveraged companies David L. Glancy Portfolio Manager Key takeaways Leverage can create attractive investment opportunities. Leveraged-company securities offer
More information1 Overview 1.01 INTRODUCTION
1 Overview 1.01 INTRODUCTION 1.01(a) Scope Of This Work This treatise is a practical guide for secured creditors, i.e. creditors with collateral securing their claims against debtors, in the restructuring,
More informationAs of July 1, 2013. Risk Management and Administration
Risk Management Risk Control The ORIX Group allocates management resources by taking into account Group-wide risk preference based on management strategies and the strategy of individual business units.
More informationInsolvency: How to know when your clients are in trouble
Insolvency: How to know when your clients are in trouble Presentation to: Institute of Public Accountants, 2016 WA Regional Conference Presented by: Katherine Payne, Special Counsel, Hall & Wilcox Melissa
More informationYour Loan has Been Assigned to Special Assets...What Now?
http://www.piworld.com/article/your-printing-company-loan-has-been-assigned-special-assetswhat-now/1 Your Loan has Been Assigned to Special Assets...What Now? By Mark R. Hahn, Managing Director of Brownstein
More informationCredit Risk. Loss on default = D x E x (1-R) Where D is default percentage, E is exposure value and R is recovery rate.
Credit Risk Bank operations involve sanctioning of loans and advances to customers for variety of purposes. These loans may be business loans for short or long term commitments and consumer finance for
More informationProgramme Information
Programme Information Programme title Professional Diploma in Financial Services Programme code PDBUS03 Teaching mode Part-time NFQ level Level 8 (Undergraduate) Programme (total) ECTS 30 Programme modules
More informationRestructuring Overview: Chapter 11. Renée M. Dailey June 28, 2013
Restructuring Overview: Chapter 11 Renée M. Dailey June 28, 2013 What is Chapter 11? A chapter contained in title 11 of the United States Code (the "Bankruptcy Code") which provides for the reorganization,
More informationThis article aims to highlight the following concepts in the context of the restructuring of debt.
UK Tax Alert June 8, 2015 Proposed New UK Tax Rules for Debt Restructuring 1. Executive Summary The U.K. corporate tax landscape has been undergoing reform for a number of years. A significant part of
More informationCredit Analysis. A comprehensive e-learning product covering ratio analysis and cash flow analysis. After completing this course, you will be able to:
e-learning and reference solutions for the global finance professional Credit Analysis A comprehensive e-learning product covering ratio analysis and cash flow analysis After completing this course, you
More informationEBA final draft Regulatory Technical Standards
EBA/RTS/2014/11 18 July 2014 EBA final draft Regulatory Technical Standards on the content of recovery plans under Article 5(10) of Directive 2014/59/EU establishing a framework for the recovery and resolution
More informationTHE EARLY WARNING SYSTEM PRESENTATION DEFINITION
THE EARLY WARNING SYSTEM PRESENTED BY: PETER GATERE MANGER, BANK SUPERVISION CENTRAL BANK OF KENYA 1 PRESENTATION Definition Background Objectives of an early warning system Role of qualitative information
More informationCommercial Real Estate Finance Part 1: Origination and Credit Risk Management
TRAINING PROGRAMME It's tangible, it's solid, it's beautiful. It's artistic, from my standpoint, and I just love real estate. Donald Trump OVERVIEW This course covers the fundamentals of Commercial Real
More informationALIGNE Credit Risk Management
ALIGNE Credit Risk Management ALIGNE CREDIT RISK EFFECTIVELY MANAGE CREDIT MONITORING, ANALYSIS AND REPORTING Counterparty credit worthiness, as well as internal credit monitoring, are becoming increasingly
More informationAP4 Education Session Impairment requirements in IFRS 9 Financial Instruments
February 2016 IFRS Standards AP4 Education Session Impairment requirements in IFRS 9 Financial Instruments CMAC meeting 25 February 2016 The views expressed in this presentation are those of the presenter,
More informationLearning Objectives: Quick answer key: Question # Multiple Choice True/False. 14.1 Describe the important of accounting and financial information.
0 Learning Objectives: 14.1 Describe the important of accounting and financial information. 14.2 Differentiate between managerial and financial accounting. 14.3 Identify the six steps of the accounting
More informationfor Analysing Listed Private Equity Companies
8 Steps for Analysing Listed Private Equity Companies Important Notice This document is for information only and does not constitute a recommendation or solicitation to subscribe or purchase any products.
More informationGENERAL GUIDELINES FOR DEVELOPING A BUSINESS PLAN
GENERAL GUIDELINES FOR DEVELOPING A BUSINESS PLAN August 2012 Table of contents Introduction... 3 1. Executive Summary... 3 2. Business Summary... 3 2.1 Company Summary... 3 2.2 Management Summary... 3
More informationSolutions for Balance Sheet Management
ENTERPRISE RISK SOLUTIONS Solutions for Balance Sheet Management Moody s Analytics offers a powerful combination of software and advisory services for essential balance sheet and liquidity risk management.
More informationAMSTERDAM BOSTON HEIDELBERG LONDON NEW YORK OXFORD PARIS SAN DIEGO SAN FRANCISCO SINGAPORE SYDNEY TOKYO Academic Press is an imprint of Elsevier
Emerging Market Bank Lending and Credit Risk Control Evolving Strategies to Mitigate Credit Risk, Optimize Lending Portfolios, and Check Delinquent Loans Leo Onyiriuba ELSEVIER AMSTERDAM BOSTON HEIDELBERG
More informationBest Practices for Credit Risk Management. Rules Notice Guidance Notice Dealer Member Rules
Rules Notice Guidance Notice Dealer Member Rules Please distribute internally to: Credit Institutional Internal Audit Legal and Compliance Operations Regulatory Accounting Retail Senior Management Trading
More informationHORNSBY SHIRE COUNCIL LONG TERM FINANCIAL PLAN 2014/15-2023/24 HORNSBY SHIRE COUNCIL LONG TERM FINANCIAL PLAN 2014/15-2023/24 SECTION INTRODUCTION
HORNSBY SHIRE COUNCIL LONG TERM FINANCIAL PLAN 2014/15-2023/24 HORNSBY SHIRE COUNCIL LONG TERM FINANCIAL PLAN 2014/15-2023/24 SECTION INTRODUCTION P1 P2 CONTENTS Executive Summary Financial Results Future
More informationStandard Chartered Bank (Thai) PCL & its Financial Business Group Pillar 3 Disclosures 30 June 2015
Standard Chartered Bank (Thai) PCL & its Financial Business Group Registered Office: 90 North Sathorn Road, Silom Bangkok, 10500, Thailand Overview During 2013, the Bank of Thailand ( BOT ) published the
More informationFinancial Restructuring and Transactions IFT Information Note: No. 121. Introduction to Insolvency Processes Schemes of Arrangement and COMI shifting
INTRODUCTION This note is intended to act as an introduction to corporate insolvency procedures under the Insolvency Act 1986 (the Act ) (as amended by The Enterprise Act 2002) and otherwise together with
More informationSupervisory Statement SS18/13. Recovery planning. December 2013. (Last updated 16 January 2015)
Supervisory Statement SS18/13 Recovery planning December 2013 (Last updated 16 January 2015) Prudential Regulation Authority 20 Moorgate London EC2R 6DA Prudential Regulation Authority, registered office:
More informationCORPORATE DEBT RESTRUCTURING & TURNAROUND
CORPORATE DEBT RESTRUCTURING & TURNAROUND INTRODUCTION The objective of this course is to familiarize students with the financial, legal, behavioural, general management and strategic issues associated
More informationServices to Law Firms Working in Partnership With Others
Services to Law Firms Working in partnership with you Contents 3 3 3 5 5 7 7 7 9 9 9 9 About Begbies Traynor Group Why Work With Begbies Traynor Group? International Coverage Restructuring Corporate Insolvency
More informationACCOUNTING STANDARDS BOARD FINANCIAL CAPITAL MANAGEMENT DISCLOSURES
ACCOUNTING STANDARDS BOARD FINANCIAL CAPITAL MANAGEMENT DISCLOSURES DECEMBER 2010 Contents Highlights One - Introduction 1 Two - Market feedback 2 Three - Business review disclosures 3 Four - IFRS disclosures
More informationEconomic Development Finance Professional (EDFP) Certification Program
Certification Program NDC s Economic Development Finance Professional (EDFP) Certification Program is a rigorous, four-course training series that explores the skills essential for the successful practice
More informationItem No. 18 GREATER MANCHESTER FIRE & RESCUE AUTHORITY AUDIT COMMITTEE 23 RD JUNE 2010 AUTHORITY 24 TH JUNE 2010
GREATER MANCHESTER FIRE & RESCUE AUTHORITY Item No. 18 AUDIT COMMITTEE 23 RD JUNE 2010 AUTHORITY 24 TH JUNE 2010 TREASURY MANAGEMENT ANNUAL REPORT 2009/10 Report of the Treasurer 1. Introduction and Background
More informationRULES AND REGULATIONS FOR FINANCING PROJECTS AND COMMERCIAL ACTIVITIES
Page 1 of 8 Section 1. Purpose These Rules and Regulations are adopted by the Board of Governors pursuant to Article 13.3. of the Agreement Establishing the Black Sea Trade and Development Bank (Establishing
More informationRestructuring, enforcement or bankruptcy in Russia: Options of a creditor
Restructuring, enforcement or bankruptcy in Russia: Options of a creditor by Jennifer Handz, Julia Romanova, Oxana Gorshkolepova and Daria Litvinova, Chadbourne & Parke LLP The financial crisis has strongly
More informationEASTERN CARIBBEAN CENTRAL BANK
EASTERN CARIBBEAN CENTRAL BANK GUIDELINES ON CREDIT RISK MANAGEMENT FOR INSTITUTIONS LICENSED TO CONDUCT BANKING BUSINESS UNDER THE BANKING ACT Prepared by the BANK SUPERVISION DEPARTMENT May 2009 TABLE
More informationThe Mortgage Market Review and Non-bank mortgage lenders is enhanced Prudential Supervision on the way?
JULY 2010 The Mortgage Market Review and Non-bank mortgage lenders is enhanced Prudential Supervision on the way? Introduction Since the publication of the FSA's latest Mortgage Market Review consultation
More informationGUIDELINES ON CORPORATE GOVERNANCE FOR LABUAN BANKS
GUIDELINES ON CORPORATE GOVERNANCE FOR LABUAN BANKS 1.0 Introduction 1.1 Good corporate governance practice improves safety and soundness through effective risk management and creates the ability to execute
More informationNEED TO KNOW. IFRS 10 Consolidated Financial Statements
NEED TO KNOW IFRS 10 Consolidated Financial Statements 2 IFRS 10 Consolidated Financial Statements SUMMARY In May 2011 the International Accounting Standards Board (IASB) published a package of five new
More informationEBA discussion paper and call for evidence on SMEs and SME supporting factor (EBA in EBA/DP/2015/02)
POSITION PAPER Our reference: 2015/08/008 Your reference: EBA/DP/2015/02 1 (9) 30/09/2015 European Banking Association EBA discussion paper and call for evidence on SMEs and SME supporting factor (EBA
More informationICAAP Required Capital Assessment, Quantification & Allocation. Anand Borawake, VP, Risk Management, TD Bank anand.borawake@td.com
ICAAP Required Capital Assessment, Quantification & Allocation Anand Borawake, VP, Risk Management, TD Bank anand.borawake@td.com Table of Contents Key Takeaways - Value Add from the ICAAP The 3 Pillars
More informationCOMMUNIQUE. NEW TAX LAWS Act Now! August 2012
COMMUNIQUE NEW TAX LAWS Act Now! August 2012 In recent weeks there have been changes to the Income Tax Assessment Act that may have a significant impact on you and your business entity. This Act is referred
More informationHow To Plan A Bankruptcy In The United Kingdom
The interpretations, opinions, and conclusions expressed in this presentation are entirely those of the author. They do not necessarily represent the views of the Turnaround Management Association or the
More informationA GUIDE TO COMPANY INSOLVENCY & LIQUIDATION
A GUIDE TO COMPANY INSOLVENCY & LIQUIDATION P: (09) 551 3631 E: admin@norrie.co.nz W: norrie.co.nz Contents Introduction... 2 Definitions... 3 Meaning of Board... 3 Meaning of director... 3 Meaning of
More informationA Risk Management Standard
A Risk Management Standard Introduction This Risk Management Standard is the result of work by a team drawn from the major risk management organisations in the UK, including the Institute of Risk management
More informationMaster of Business Administration Program in the Faculty of Business Administration and Economics
Master of Business Administration Program in the Faculty of Business Administration and Economics The Faculty of Business Administration and Economics at Haigazian University offers a degree program leading
More informationWillis Group Holdings. February 2014 I Bank of America Merrill Lynch Insurance Conference
Willis Group Holdings February 2014 I Bank of America Merrill Lynch Insurance Conference Disclaimer Important disclosures regarding forward-looking statements These presentations contain certain forward-looking
More informationVenture Debt Overview
Venture Debt Overview Introduction When utilized appropriately, venture debt can reduce dilution, extend a company s runway or accelerate its growth with limited cost to the business If utilized poorly
More information( Rs in ' 000 ) Corresponding Previous Year Particulars
Ace Development Bank Limited Narayan Chaur, Naxal, Kathmandu Phone # 4441110,4411760 Fax # 4445554 Email: Info@ace.com.np, Website : http//www.ace.com.np Unaudited Financial Results (Quarterly) As at 3rd
More informationTiming of Hiring a Turnaround Management Firm. Turnarounds & Crisis Management Solutions to Complex Business Problems
Solutions to Complex Business Problems Atlanta Chapter, Georgia Society of CPA s October 21, 2010 by Mark D. Kaplan, Principal Restructuring Profit Advisors, LLC 400 Trowgate Lane Atlanta, Georgia 30350
More informationDisclosure 17 OffV (Credit Risk Mitigation Techniques)
Disclosure 17 OffV (Credit Risk Mitigation Techniques) The Austrian Financial Market Authority (FMA) and the Oesterreichsiche Nationalbank (OeNB) have assessed UniCredit Bank Austria AG for the use of
More informationMaster of Business Administration Program in the Faculty of Business Administration and Economics
Master of Business Administration Program in the Faculty of Business Administration and Economics The Faculty of Business Administration and Economics at Haigazian University offers a degree program leading
More informationAn Introduction To Insolvency - Part 1
An Introduction To Insolvency - Part 1 An Introduction To Insolvency - Part 1 Introduction A company (or LLP) will be considered to be insolvent if it is unable to pay its debts. A person can be insolvent,
More informationINSURANCE. Moody s Analytics Solutions for the Insurance Company
INSURANCE Moody s Analytics Solutions for the Insurance Company Moody s Analytics Solutions for the Insurance Company HELPING PROFESSIONALS OVERCOME TODAY S CHALLENGES Recent market events have emphasized
More informationCredit Default Swaps (CDS)
Introduction to Credit Default Swaps (CDS) CDS Market CDS provide investors with the ability to easily and efficiently short credit Shorting allows positions to be taken in forward credit risk ik CDS allow
More informationThe Business Case For SBA 7a Lending For Community Banks
The Business Case For SBA 7a Lending For Community Banks How Community Banks Can Prudently Make Loans to Small Business By: Joanne Thompson SBA OneSource, LLC This paper examines the business reasons for
More informationFinancial Overview INCOME STATEMENT ANALYSIS
In the first half of 2006, China s economy experienced steady and swift growth as evidenced by a 10.9% surge in GDP. In order to prevent the economy from getting overheated and to curb excess credit extension,
More informationinsolvency group A Guide to Creditor s Voluntary Liquidation Licensed Insolvency Practitioners & Business Recovery Professionals
focus insolvency group A Guide to Creditor s Voluntary Liquidation Licensed Insolvency Practitioners & Business Recovery Professionals Call: 0800 157 7330 or 01257 251319 www.focusinsolvencygroup.co.uk
More informationCFS. Syllabus. Certified Finance Specialist. International benchmark in Finance profession
CFS Certified Finance Specialist Syllabus International benchmark in Finance profession Certified Finance Specialist Summary: This award will provide candidates the opportunity to gain advanced level knowledge
More informationCREDIT RISK MANAGEMENT
GLOBAL ASSOCIATION OF RISK PROFESSIONALS The GARP Risk Series CREDIT RISK MANAGEMENT Chapter 1 Credit Risk Assessment Chapter Focus Distinguishing credit risk from market risk Credit policy and credit
More informationTREASURY MANAGEMENT UPDATE QUARTER 4 2014/15
Committee and Date Cabinet 10 June 2015 12.30 pm Item 9 Public TREASURY MANAGEMENT UPDATE QUARTER 4 2014/15 Responsible Officer James Walton e-mail: james.walton@shropshire.gov.uk Tel: (01743) 255011 1.
More informationTEXTRON FINANCIAL CORPORATION
TEXTRON FINANCIAL CORPORATION Quarterly Financial Statements (Unaudited) For the fiscal quarter ended Textron Financial Corporation is a wholly-owned subsidiary of Textron Inc. Beginning with the quarter
More informationINVESTMENT POLICY April 2013
Policy approved at 22 April 2013 meeting of the Board of Governors (Minute 133:4:13) INVESTMENT POLICY April 2013 Contents SECTION 1. OVERVIEW SECTION 2. INVESTMENT PHILOSOPHY- MAXIMISING RETURN SECTION
More informationList of legislative acts
List of legislative acts BRRd : d irective 2014/59/EU of the European Parliament and of the Council of 15 May 2014 establishing a framework for the recovery and resolution of credit institutions and investment
More informationPeer-to-peer bad debt relief: proposed technical criteria. Technical Note 24 March 2015
Peer-to-peer bad debt relief: proposed technical criteria Technical Note 24 March 2015 1 Contents Page Chapter 1 Introduction 3 Chapter 2 Summary of Proposed Relief 4 Chapter 3 Amount of Proposed Relief
More informationPeer Comparison: U.K. Water Corporate Securitizations
Publication date: 08 -Oct-2004Primary Credit Analyst(s): William Ferara, London (44) 20-7176 -3519; bill_ferara@standardandpoors.com Secondary Credit Analyst(s): Anthony Flintoff, London (44) 20-7176 -3874;
More informationOn Corporate Debt Restructuring *
On Corporate Debt Restructuring * Asian Bankers Association 1. One of the major consequences of the current financial crisis is the corporate debt problem being faced by several economies in the region.
More informationINTRODUCTION TO TRADING AND INVESTING IN FIXED INCOME SIMULATION TRAINING@THE DEALING ROOM
INTRODUCTION TO TRADING AND INVESTING IN FIXED INCOME SIMULATION TRAINING@THE DEALING ROOM Leading Excellence in Banking & Finance OUR PARTNERS CapitalWave provides truly dynamic educational simulation
More informationLoans and Security Training
Jonathan Lawrence, Finance Partner, London Loans and Security Training November 2014 Copyright 2014 by K&L Gates LLP. All rights reserved. LOANS AND SECURITY TRAINING A. Entering into a loan facility B.
More information4Q15 EARNINGS RELEASE OUTSTANDING DATA
EARNINGS RELEASE Buenos Aires, Argentina, February 10, 2016 Banco Patagonia S.A. (BCBA: BPAT; BOVESPA: BPAT33) reports on the consolidated income of 4th quarter () for financial year 2015. OUTSTANDING
More informationArticle - Working Capital Management By Bernard Vallely FCCA MBA Examiner Professional 1 Managerial Finance & Professional 2 Financial Management
Article - Working Capital Management By Bernard Vallely FCCA MBA Examiner Professional 1 Managerial Finance & Professional 2 Financial Management Working Capital An organisation s working capital refers
More informationGuide For Directors Of Insolvent Companies In The Cayman Islands
Guide For Directors Of Insolvent Companies In The Cayman Islands This guide provides general information on insolvency for directors whose companies are in financial difficulty, or are insolvent. Any queries
More informationPROBLEM LOAN DETECTION: EARLY WARNING SIGNALS, STRESS SCENARIO ASSUMPTIONS, WHAT TO STAY ALERT FOR IN THE WAKE OF NEW CRISIS WAVE
Regional Technical Workshop on Problem Loan Workout Techniques PROBLEM LOAN DETECTION: EARLY WARNING SIGNALS, STRESS SCENARIO ASSUMPTIONS, WHAT TO STAY ALERT FOR IN THE WAKE OF NEW CRISIS WAVE Delivered
More informationNORMAN COWAN and CHRISTOPHER AXFORD DRUCES LLP SOLICITORS WILDER COE LLP BUSINESS RECOVERY. Page 1 of 6
INTEGRA INTERNATIONAL & THE ALLIANCE OF BUSINESS LAWYERS: BUSINESS RESTRUCTURING AND INSOLVENCY UNIT INTERNATIONAL CORPORATE RESTRUCTURING TAKING ADVANTAGE OF CROSS BORDER INSOLVENCY PROCEDURES NORMAN
More informationRecovery & Restructuring
Recovery & Restructuring Business problems can arise unexpectedly and swiftly often taking us by surprise. At Copsey Murray our team of experts provide recovery and restructuring services for all circumstances.
More informationSome Legal Issues On Spanish Pre-Insolvency Debt Restructurings
Some Legal Issues On Spanish Pre-Insolvency Debt Restructurings Banking and Capital Markets Department 1. Introduction Given the prolonged distressed situation of the Spanish credit market, corporates
More informationThis chapter assesses the risks that were identified in the first chapter and elaborated in the earlier chapters of this report.
5. Risk assessment This chapter assesses the risks that were identified in the first chapter and elaborated in the earlier chapters of this report. 5.1. Qualitative risk assessment Qualitative risk assessment
More information