抵押品评估和信用风险管理

1. Why is Collateral Evaluation Important? 为什么抵押品评估重要

2. Types of Collateral and Regulatory Pitfalls 抵押品种类和法规缺陷

3. Evaluation of Collateral (Real Estate) 抵押品评估（房产）

4. Evaluation of Collateral (Other Assets) 抵押品评估（其他资产）

5. Protection of Collateral 抵押品保护

Creation of Security Interest 担保利益的创立

Perfection of Security Interest 担保利益的完善

6. Collateral Management 抵押品管理

Collateral Management for Credit Risk Management 信用风险管理中的抵押品管理

Safeguarding the Enforcement 维护强制执行

7. Enforcement of Collateral 抵押品的强制执行

8. Extinguishing Security Interest in Collateral 抵押品利益的终止

Collateral stabilizes financial intermediation抵押品稳定金融中介活动

Collateral better aligns interests of the lender and borrower because:抵押品更好的使出借方和借用方的利益达成一致

The lender can maximize the safety of repayment出借方可以使收回借款的可能性最大化

The borrower will minimize the risk taking借用方可以使承担的风险最小化

Without collateral如果没有抵押品:

The lender will solely rely on borrower’s cash-flow generated by the project (business) for the repayment.出借方只能依靠借用方项目（营业）产生的现金流来偿债

The borrower tends to take more risks in the project (business), which may cause instability in generating cash-flow.借用方会承担项目（营业）更大的风险，这会导致无法生产足够的现金流

There will be more vulnerable banks and more risky businesses in the economy, otherwise, resulting in shallow financial intermediation.经济环境中会产生更危险的银行和更有风险的行业，这样也会缩减金融中介活动。