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Author : Lawrence J. Gitman
Publisher :
ISBN 13 : 9781998109319
Total Pages : 0 pages
Book Rating : 4.1/5 (93 download)
Download or read book Introduction to Business written by Lawrence J. Gitman and published by . This book was released on 2023-05-19 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : United States. Farm Credit Administration
Publisher :
ISBN 13 :
Total Pages : 36 pages
Book Rating : 4.:/5 (26 download)
Download or read book Short Term Credit written by United States. Farm Credit Administration and published by . This book was released on 1938 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Congressional Research Service
Publisher : Createspace Independent Publishing Platform
ISBN 13 : 9781973784029
Total Pages : 32 pages
Book Rating : 4.7/5 (84 download)
Download or read book Short-Term, Small-Dollar Lending written by Congressional Research Service and published by Createspace Independent Publishing Platform. This book was released on 2017-07-20 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Short-term, small-dollar loans are consumer loans with relatively low initial principal amounts (often less than $1,000) with relatively short repayment periods (generally weeks or months). Short-term, small-dollar loan products are frequently used to cover cash-flow shortages that may occur due to unexpected expenses or periods of inadequate income. Small-dollar loans can be offered in various forms and by various types of lenders. Banks and credit unions (depositories) can make small-dollar loans through financial products such as credit cards, credit card cash advances, and checking account overdraft protection programs. Small-dollar loans can also be provided by nonbank lenders (alternative financial service [AFS] providers), such as payday lenders and automobile title lenders. The extent that borrower financial situations would be made worse from the use of expensive credit or from limited access to credit is widely debated. Consumer groups often raise concerns regarding the affordability of small-dollar loans. Borrowers pay rates and fees for small-dollar loans that may be considered expensive. Borrowers may also fall into debt traps, situations where borrowers repeatedly roll over existing loans into new loans and subsequently incur more charges rather than completely paying off the loans. Although the vulnerabilities associated with debt traps are more frequently discussed in the context of nonbank products such as payday loans, borrowers may still find it difficult to repay outstanding balances and face additional charges on loans such as credit cards that are provided by depositories. Conversely, the lending industry often raises concerns regarding the reduced availability of small-dollar credit. Regulations aimed at reducing costs for borrowers may result in higher costs for lenders, possibly limiting or reducing credit availability for financially distressed individuals. This report provides an overview of the small-dollar consumer lending markets and related policy issues. Descriptions of basic short-term, small-dollar cash advance products are presented. Current federal and state regulatory approaches to consumer protection in small-dollar lending markets are also explained, including a summary of a proposal by the Consumer Financial Protection Bureau (CFPB) to implement federal requirements that would act as a floor for state regulations. The CFPB estimates that its proposal would result in a material decline in small-dollar loans offered by AFS providers. The CFPB proposal has been subject to debate. The Financial CHOICE Act of 2017, which was passed by the House of Representatives on June 8, 2017, would prevent the CFPB from exercising any rulemaking, enforcement, or any other authority with respect to payday loans, vehicle title loans, or other similar loans. After discussing the policy implications of the CFPB proposal, this report examines general pricing dynamics in the small-dollar credit market. The degree of market competitiveness, which may be revealed by analyzing market price dynamics, may provide insights concerning affordability and availability options for users of certain small-dollar loan products. The Appendix discusses how to conduct meaningful price comparisons using the annual percentage rate (APR) as well as some general information about loan pricing.
Author : United States. Farm Credit Administration
Publisher :
ISBN 13 :
Total Pages : 28 pages
Book Rating : 4.:/5 ( download)
Download or read book Short Term Credit written by United States. Farm Credit Administration and published by . This book was released on 1938 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Kodzo Gbenyo
Publisher : International Monetary Fund
ISBN 13 : 1455200212
Total Pages : 35 pages
Book Rating : 4.4/5 (552 download)
Download or read book Short-Versus Long-Term Credit and Economic Performance written by Kodzo Gbenyo and published by International Monetary Fund. This book was released on 2010-05-01 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies the link between financial development and economic growth in the West African Economic and Monetary Union (WAEMU). Using panel data for WAEMU countries over the period 1995-2006, the results suggest that while financial development does support growth in the region, long-term bank financing has a greater impact on economic growth than short-term financing because long-term projects have higher returns adjusted for risks. Given that in the WAEMU short-term credit accounts for about 70 percent of credit to the private sector, WAEMU countries are less able to reap the full benefits of improvements in their financial systems. The results also highlight the importance of macroeconomic stability, a creditor-friendly environment, political stability, and the availability of long-term financial resources in fostering banks’ supply of long-term loans.
Author : John E. Silvia
Publisher : Springer Nature
ISBN 13 : 3030762955
Total Pages : 469 pages
Book Rating : 4.0/5 (37 download)
Download or read book Financial Markets and Economic Performance written by John E. Silvia and published by Springer Nature. This book was released on 2021-07-31 with total page 469 pages. Available in PDF, EPUB and Kindle. Book excerpt: Effective decision making requires understanding of the underlying principles of financial markets and economics. Intellectually, economics and financial markets are genetically intertwined although when it comes to popular commentary they are treated separately. In fact, academic economic thinking appears separate from financial market equity strategy in most financial market commentary. Historically, macroeconomics tended to assume away financial frictions and financial intermediation whereas financial economists did not necessarily consider the negative macroeconomic spill overs from financial market outcomes. In more recent years, the economic discipline has gone through a serious self-reflection after the global crisis. This book explores the interplay between financial markets and macroeconomic outcomes with a conceptual framework that combines the actions of investors and individuals. Of interest to graduate students and those professionals working in the financial markets, it provides insight into why market prices move and credit markets interact and what factors participants and policy makers can monitor to anticipate market change and future price paths.
Author : Thomas A. Durkin
Publisher :
ISBN 13 :
Total Pages : 29 pages
Book Rating : 4.:/5 (13 download)
Download or read book Assessing the Price of Short-Term Credit written by Thomas A. Durkin and published by . This book was released on 2014 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 1968 Congress passed the Truth in Lending Act (TILA) to require written disclosures of key credit terms for consumers, including finance charges, payment sizes, payment totals, and interest rates mathematically calculated as a defined Annual Percentage Rate (APR). Much has changed in the markets for consumer credit since passage of TILA, including widespread quotation, discussion, and even advertising of APRs mandated by TILA for disclosures. It does not follow, however, that APRs are the only terms important to consumers or even the most useful in all situations. This paper examines current TILA disclosures relevant to short-term-credit customers. Employing examples, it shows that finance charges expressed in dollars can be more useful for these loan customers than APRs, since finance charges are close to theoretically correct for the purposes intended, easier to understand, more directly related to the time period of the loan, and able to differentiate among varying costs of small amounts of short-term credit better than APRs. Although these findings do not argue for a wholesale change in the legal scheme of TILA, they do help explain evidence that dollar charges have long been of greater concern to some consumers than interest rates, why a focus among some consumers on charges expressed in dollars rather than APRs should not be considered disturbing, and that some reasonable renovations might be in order to improve the usefulness of TILA disclosures.
Author : Ned C. Hill
Publisher : MacMillan Publishing Company
ISBN 13 : 9780023548215
Total Pages : 600 pages
Book Rating : 4.5/5 (482 download)
Download or read book Short-term Financial Management written by Ned C. Hill and published by MacMillan Publishing Company. This book was released on 1992 with total page 600 pages. Available in PDF, EPUB and Kindle. Book excerpt: Addresses the second dimension through an expanded treatment of the liquidity position of the firm. Provides a framework for measuring and managing the liquidity position.
Author :
Publisher : Lulu.com
ISBN 13 : 9291316695
Total Pages : 294 pages
Book Rating : 4.2/5 (913 download)
Download or read book International Convergence of Capital Measurement and Capital Standards written by and published by Lulu.com. This book was released on 2004 with total page 294 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Inessa Love
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 34 pages
Book Rating : 4./5 ( download)
Download or read book Trade Credit and Bank Credit written by Inessa Love and published by World Bank Publications. This book was released on 2005 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The authors study the effect of financial crises on trade credit in a sample of 890 firms in six emerging economies. They find that although provision of trade credit increases right after the crisis, it consequently collapses in the following months and years. The authors observe that firms with weaker financial position (for example, high pre-crisis level of short-term debt and low cash stocks and cash flows) are more likely to reduce trade credit provided to their customers. This suggests that the decline in aggregate credit provision is driven by the reduction in the supply of trade credit, which follows the bank credit crunch. The results are consistent with the "redistribution view" of trade credit provision, in which bank credit is redistributed by way of trade credit by the firms with stronger financial position to the firms with weaker financial stand "--World Bank web site.
Author : Mr.Kangni Kpodar
Publisher : International Monetary Fund
ISBN 13 : 1455200743
Total Pages : 34 pages
Book Rating : 4.4/5 (552 download)
Download or read book Short-Versus Long-Term Credit and Economic Performance written by Mr.Kangni Kpodar and published by International Monetary Fund. This book was released on 2010-05-01 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies the link between financial development and economic growth in the West African Economic and Monetary Union (WAEMU). Using panel data for WAEMU countries over the period 1995-2006, the results suggest that while financial development does support growth in the region, long-term bank financing has a greater impact on economic growth than short-term financing because long-term projects have higher returns adjusted for risks. Given that in the WAEMU short-term credit accounts for about 70 percent of credit to the private sector, WAEMU countries are less able to reap the full benefits of improvements in their financial systems. The results also highlight the importance of macroeconomic stability, a creditor-friendly environment, political stability, and the availability of long-term financial resources in fostering banks’ supply of long-term loans.
Author : Frederick F. Wherry
Publisher : Russell Sage Foundation
ISBN 13 : 1610448847
Total Pages : 175 pages
Book Rating : 4.6/5 (14 download)
Download or read book Credit Where It's Due written by Frederick F. Wherry and published by Russell Sage Foundation. This book was released on 2019-04-26 with total page 175 pages. Available in PDF, EPUB and Kindle. Book excerpt: An estimated 45 million adults in the U.S. lack a credit score at time when credit invisibility can reduce one’s ability to rent a home, find employment, or secure a mortgage or loan. As a result, individuals without credit—who are disproportionately African American and Latino—often lead separate and unequal financial lives. Yet, as sociologists and public policy experts Frederick Wherry, Kristin Seefeldt, and Anthony Alvarez argue, many people who are not recognized within the financial system engage in behaviors that indicate their credit worthiness. How might institutions acknowledge these practices and help these people emerge from the financial shadows? In Credit Where It’s Due, the authors evaluate an innovative model of credit-building and advocate for a new understanding of financial citizenship, or participation in a financial system that fosters social belonging, dignity, and respect. Wherry, Seefeldt, and Alvarez tell the story of the Mission Asset Fund, a San Francisco-based organization that assists mostly low- and moderate-income people of color with building credit. The Mission Asset Fund facilitates zero-interest lending circles, which have been practiced by generations of immigrants, but have gone largely unrecognized by mainstream financial institutions. Participants decide how the circles are run and how they will use their loans, and the organization reports their clients’ lending activity to credit bureaus. As the authors show, this system not only helps clients build credit, but also allows them to manage debt with dignity, have some say in the creation of financial products, and reaffirm their sense of social membership. The authors delve into the history of racial wealth inequality in the U.S. to show that for many black and Latino households, credit invisibility is not simply a matter of individual choices or inadequate financial education. Rather, financial marginalization is the result of historical policies that enabled predatory lending, discriminatory banking and housing practices, and the rollback of regulatory protections for first-time homeowners. To rectify these inequalities, the authors propose common sense regulations to protect consumers from abuse alongside new initiatives that provide seed capital for every child, create affordable short-term loans, and ensure that financial institutions treat low- and moderate-income clients with equal respect. By situating the successes of the Mission Asset Fund in the larger history of credit and debt, Credit Where It’s Due shows how to prioritize financial citizenship for all.
Author : Shahram Sharifi
Publisher :
ISBN 13 :
Total Pages : 28 pages
Book Rating : 4.:/5 (13 download)
Download or read book Options for Short-Term Credit in the United Kingdom written by Shahram Sharifi and published by . This book was released on 2013 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: Banks in the United Kingdom are unable to make profitable short-term, low-value loans to low-to-moderate-income (LMI) consumers because of increasing regulatory constraints, reputational risks, inflexible legacy information systems, and required investments in new technologies (such as mobile banking). We provide an empirical analysis of consumer loan products from various UK lenders and provide a model showing that the risks and costs associated with these products often outweigh the revenue derived from offering them. These findings show that alternative financial services, such as payday loans and home credit, are increasingly valued by LMI consumers and provide benefits to an under-served market, from which banks continue to exit. We present a bleak outlook for future participation by high street banks in the LMI market.
Author : Michael Oluwadare Idowu
Publisher : GRIN Verlag
ISBN 13 : 3656973733
Total Pages : 21 pages
Book Rating : 4.6/5 (569 download)
Download or read book Short-Term Funding. An Effective Device to Aid Business Profitability written by Michael Oluwadare Idowu and published by GRIN Verlag. This book was released on 2015-06-08 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2013 in the subject Business economics - Investment and Finance, grade: A, ( Atlantic International University ) (Business and Economics), course: Accounting and finance, language: English, abstract: The purpose of this write up is the discussion of how short-term funding can be used to aid business profitability. In order to achieve this objective, various sources of short term funding will be evaluated with a view to underscore the relative advantages and disadvantages. I will also recommend factors to consider before using short term funding. The key purpose of any business venture is return. This can come in various forms such as profit maximization; maximization of contribution, shareholders wealth maximisation among others. These strategic objectives usually come in sizes depending on the nature of the business or organisation. Lofty as strategic decisions may be, the importance of having adequate and efficient funding to support it cannot be over-emphasised. It has been shown again and again that one of the main reasons why business fails is the miss-matched of funding. Experience has shown that when you use your working capital (a form of short-term fund) to finance a capital project, the ability to run the business as a going –concern into a foreseeable future becomes shaky due to cash-flow problems. Funding a business that requires a short-term funding with a long-term financing is a sure way to exist the market arena in an unceremoniously. It is therefore critical to have a right mix of fiancé to boost productivity and enhance competitive advantage.
Author : Carolyn Sissoko
Publisher :
ISBN 13 :
Total Pages : 43 pages
Book Rating : 4.:/5 (13 download)
Download or read book Short-Term Credit written by Carolyn Sissoko and published by . This book was released on 2013 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper develops a mechanism that links the combined monetary and financial role of intermediaries to the division of labor and endogenous growth. The model builds on an augmented Ramsey Cass Koopmans (RCK) model of optimal growth. First, by relaxing the assumption that each agent buys and sells at the same time an endogenous cash-in-advance constraint is created. The cash constraint is not binding for agents who borrow from intermediaries at the start of a period and repay the debt at the end of the period. Thus intermediated short-term credit is a solution to the monetary friction. Second to address the division of labor the symmetric n-good n-type structure of Kiyotaki and Wright's search model of money is nested into each period of the model. Because each type of agent is more productive when his production is specialized, relaxing the cash constraint leads to a division of labor. Finally the exogenous growth of the RCK model is reinterpreted as endogenous growth due to a process of learning-by-doing. We find that financial intermediaries by relaxing the cash constraint promote the division of labor which generates a process of endogenous growth.
Author : Thomas A. Durkin
Publisher :
ISBN 13 : 0195169921
Total Pages : 737 pages
Book Rating : 4.1/5 (951 download)
Download or read book Consumer Credit and the American Economy written by Thomas A. Durkin and published by . This book was released on 2014 with total page 737 pages. Available in PDF, EPUB and Kindle. Book excerpt: Consumer Credit and the American Economy examines the economics, behavioral science, sociology, history, institutions, law, and regulation of consumer credit in the United States. After discussing the origins and various kinds of consumer credit available in today's marketplace, this book reviews at some length the long run growth of consumer credit to explore the widely held belief that somehow consumer credit has risen "too fast for too long." It then turns to demand and supply with chapters discussing neoclassical theories of demand, new behavioral economics, and evidence on production costs and why consumer credit might seem expensive compared to some other kinds of credit like government finance. This discussion includes review of the economics of risk management and funding sources, as well discussion of the economic theory of why some people might be limited in their credit search, the phenomenon of credit rationing. This examination includes review of issues of risk management through mathematical methods of borrower screening known as credit scoring and financial market sources of funding for offerings of consumer credit. The book then discusses technological change in credit granting. It examines how modern automated information systems called credit reporting agencies, or more popularly "credit bureaus," reduce the costs of information acquisition and permit greater credit availability at less cost. This discussion is followed by examination of the logical offspring of technology, the ubiquitous credit card that permits consumers access to both payments and credit services worldwide virtually instantly. After a chapter on institutions that have arisen to supply credit to individuals for whom mainstream credit is often unavailable, including "payday loans" and other small dollar sources of loans, discussion turns to legal structure and the regulation of consumer credit. There are separate chapters on the theories behind the two main thrusts of federal regulation to this point, fairness for all and financial disclosure. Following these chapters, there is another on state regulation that has long focused on marketplace access and pricing. Before a final concluding chapter, another chapter focuses on two noncredit marketplace products that are closely related to credit. The first of them, debt protection including credit insurance and other forms of credit protection, is economically a complement. The second product, consumer leasing, is a substitute for credit use in many situations, especially involving acquisition of automobiles. This chapter is followed by a full review of consumer bankruptcy, what happens in the worst of cases when consumers find themselves unable to repay their loans. Because of the importance of consumer credit in consumers' financial affairs, the intended audience includes anyone interested in these issues, not only specialists who spend much of their time focused on them. For this reason, the authors have carefully avoided academic jargon and the mathematics that is the modern language of economics. It also examines the psychological, sociological, historical, and especially legal traditions that go into fully understanding what has led to the demand for consumer credit and to what the markets and institutions that provide these products have become today.
Author : Max De Voe Richards
Publisher : Ayer Publishing
ISBN 13 : 9780405114786
Total Pages : 255 pages
Book Rating : 4.1/5 (147 download)
Download or read book Intermediate and Long Term Credit for Small Corporations written by Max De Voe Richards and published by Ayer Publishing. This book was released on 1979-01-01 with total page 255 pages. Available in PDF, EPUB and Kindle. Book excerpt:
