RC#21 抵押贷款 大意整理

reallyfly

自己整理的 大家看看!至少90%正確(我是做Finance的)



Topic:  Explain how the firm avoids the fee by posting collateral
Style:  Explain
Author attitude:  none

1. Evaluation cost when applying the loan
   
   1. Two types of firm: low operating cost firm(LCF) and high operating cost firm(HCF)
      
   2. The firm know if project is likely success or not -> The firm knows itself as LCF or HCF when applying loan
      
   3. The Bank still cannot tell because of other factors. All firms look identical to bank
      
   4. Bank needs investigation/evaluation -> cost of investigation
      
2. Who pays the cost
   
   1. Bank needs to evaluate both types of firm
      
   2. Make sure Bank not making money from this fees (ex. do nothing) -=> Bank only charges the fee when the loan is approved. Got nothing if reject the loan
      
   3. HCF->less likely to get loan  -> bank did not recoup the fee
      
   4. LCF->more likely to get loan -> LCF pays the fee to the bank
      
   5. LCF subsidizes the HCF
      
3. How to avoid the fee
   
   1. LCF distinguish themselves by offering to post collateral
      
   2. Posting collateral is costly to the firm =>
      
      1. only LCF is willing to take such risk
         
      2. HCF will not  because high risk of losing the collateral
         
   3. => only LCF posts collateral, HCF does not
      
   4. => bank can distinguish between the two firms =>
      
      1. willing to post collateral -> LCF -> not need for investigation -> LCF avoids the fee
         
      2. not willing to post collateral -> HCF ->need evaluation -> HCF pays the fee
         

Collateral - Generally, the term collateral refers to assets pledged by a borrower to secure a loan. The lender can seize these assets if the borrower does not make the agreed-upon payments on the loan, so the lender has some protection if the borrower defaults. Therefore, the use of collateral can make it easier for firms to obtain loans to finance their investments.

larochelle

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ylz_shg

赞，我要认真学习学习

ffxiaopp

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sasaki720

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漂流记001

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adigger

多谢！！！！！！！

hellsing1002

学习一下，正在研究

xinyunyouying

laoqian999

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zhenghong911

多谢楼主分享~~~~~~~~~~~~~~~·