【正文】 ers. 56 Credit Analysis Designing loan agreements and loan covenants ?Negative Covenants continued ?Restriction on asset purchase or investments ?Limit on salaries and dividends ?Guidelines in Setting Covenants ?All banks provide their lending officers with a specimen loan agreement which outlines the most mon terms and covenants. The banker must then tailor the loan agreement to the needs and risks of his client. 57 Credit Analysis Part IV. Loan Management ? Monitoring the Loan ? Managing Problem Loans 58 Credit Analysis Monitoring the Loan ?Monitoring involves a set of activities aimed at ensuring that an outstanding loan is being repaid as scheduled, the client’s ability to repay is not deteriorating and the collateral security is being maintained. ?What should be monitored? ?Day to day operations cash flows ?The acquisition and sale of assets ?The taking on or repayment of liabilities 59 Credit Analysis Monitoring the Loan ? Monitor Cash Flows regular financial statements, client meetings and following economic events which may influence the client’s business ?Monitor the Client’s Assets financial statements, accounts receivable inventory reports and visits to the customers, plus personal financial information for small business owners ? Monitor client liabilities to see what the peting claims are. Do this with financial statements and with periodic searches at key registry offices 60 Credit Analysis Monitoring the Loan ? The annual review is the most significant monitoring event. ?Analyze the firm’s key success factors and what has changed ? Determine how the firm has or will respond to these changing success factors ?Discuss the previous year’s cash budget and projected statements ? Discuss the current financial statements. Probe for reasons if they have deteriorated or improved. 61 Credit Analysis Monitoring the Loan ?Review the client’s account profitability ? Using the projected financial statement, identify the client’s future funding needs ?Discuss the client’s use of other bank services and identify future marketing opportunities 62 Credit Analysis Managing Problem Loans ? Three major ponents。 1. Identifying problem loans 2. Working out the loan 3. Ending the relationship ? Problem loans are statistically inevitable ? All risk cannot be eliminated, rather it must be managed ? A Problem Loan is one where the borrower is unable or unwilling to repay the obligation and there is potential for partial or total loss to the bank 63 Credit Analysis Managing Problem Loans ?Early Warning Signals ?Delinquent Loan Payments ?Delayed financial information ?Change in deposit patterns, excesses and returned cheques ?Major differences in planned results versus actual ?Loss of borrower rapport poor munication ?Adverse information from the borrower’s petitors/customers ?Increase in inquiries from trade creditors ?Unusual business activities 64 Credit Analysis Managing Problem Loans ? Warning Signs continued ?Changes in Management ?Breaches of covenants ? Determine if these are temporary or permanent problems ? The Workout Plan ?Strengthen the bank’s position increasing collateral, additions to the pany’s capital base or refinancing ?Formulate a workout plan the borrower must develop a detailed action plan that is convincing and achievable 65 Credit Analysis Managing Problem Loans ?Shortterm pany initiatives (to suggest) ?Eliminate excess expenditures ?Dismiss ineffective people ?Add missing skills ?Reduce investment in fixed assets ?Scale down pany operations ?Secure cooperation of trade creditors ?Clarify type of bank support 66 Credit Analysis Managing Problem Loans Terminating the Loan ?Refinancing may be possible ?Enforce collateral security ?Review all documentation to ensure that the security can be enforced ?Choose how to enforce security and gain control of the assets ? Prospects are best if the banker moves quickly when the problem is first detected. 67 Credit Analysis Conclusion ?Managing credit risk is vital to the bank’s health. It is part art and part science. 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