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This chapter shifts the spotlight away from credit origination to credit management, which essentially ensures that a borrower stays in compliance with the loan agreement and that any signs of credit quality deterioration are handled promptly. The chapter outlines the reasons for credit monitoring and discusses best practices that well-managed banks have in place, such as monitoring loan covenants, loan documentation and collateral, reviewing the borrower risk rating and credit exposures, and implementing a watch list process to flag deteriorating accounts. The chapter discusses the requirements of an effective monitoring system (e.g., enterprise-wide centralised data, accuracy, and timeliness) and the benefits from automating the process, one of which is detecting deteriorating credit trends for individual borrowers and for a loan portfolio.
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Basel Committee on Banking Supervision (June 2006). Page 95, ibid.
Johnson, S. L. (2014), Proactive steps for the secured lender in the world of bankruptcy, Illinois Banker, October 2014.
There was a recent case in Vancouver, Canada, where a man sued Royal Bank of Canada for seizing his car. The bank admitted it was an error and explained the lien was registered to the incorrect vehicle. The CBC (Joan Marshall of the Canada Broadcasting Corporation) reported the news on October 25, 2018, “‘ I was in utter disbelief’: Man sues RBC after high-performance car seized.”
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- Credit Monitoring and Compliance
Terence M. Yhip
Bijan M. D. Alagheband