I2CREDIT Nº 28
Italia: A cultural revolution for a better access to credit | *Exclusivo para RC&C
What is going on in these years it may be unique: democratically many countries decided to join same ideas and standards. Not considering the final result, a first aim has already reached: we managed to set a common objective.
Por: Manlio D'Agostino Management Advisor
Both of these reform are aiming to give much more transparency to financial markets, especially for those companies which operates globally. In this scenario is growing the “rating culture”, that is a new financial philosophy which thoroughly modifies the relationship between the bank and its SME clientele.
This new culture has deep roots in the evolution of the banking industry, especially in the constant search for reduction of exposure to risks, through the implementation of prudential rules (Basel II).
These can be effective only if these are powered by a good informative system: as a matter of facts Internal Rating Approaches are founded both on the quantity and (much more) on the quality of available data and information.
Basel II path follows the evolution of the IAS/IFRS which ask much more information and data of any field of the entrepreneurial activities, in order to make a better financial report.
Something more: for some kind of company (for example insurance and banks), INTERNATIONAL FINANCIAL REPORTING STANDARDS are compulsory from January 2005, while Basel 2 officially should be completely adopted by the 2007.
Basel II and IAS/IFRS are the base for a cultural revolution in management style, in which outsourcing firms become one of the most important rings of the economical chain. This can be the turning point to start a new business, much more specialised, that would help and lead to a market skimming, and at the end of which, only few Debt Collecting Agencies will keep their market share. With a qualified recognition (of Banks), DEBT COLLECT AGENCIES can influence and determine the evaluation of some single parameters, and then the final rating.
What is important for Debt Collecting Agencies to highlight are the differences taken in the process of evaluation.
As a matter of facts, with previous Capital Accord (BASEL 1) not official data could be taken in consideration, as long as these were generally supported by good financial and market environment.
With the introduction of BASEL II, evaluation will be based on RATINGS and SCORINGS: then firms are “forced” to redesign their Management model on strategic planning base, and there will be needed new competencies.
Firms will have access to credit only through a classification of rating: this means that condition to lend money are not based, any more, only on "human evaluation" but on Rating Based Approach, which need a continuos flow of information and data on the economical, financial and environmental situation of the firm.
We also can forecast that, in the next 10 years after the definitive application of BASEL 2, banks may give in outsourcing the constant and permanent monitoring on firms (reducing internal costs and increasing the quality of information on them) and in order to avoid and prevent unexpected situations of default (typical of the dynamic life of firms), that can influence the relationship between INDUSTRY and the Financial and Credit World.
The most important results of surveys and analysis is certainly that firms are going to need new competencies in credit management field.
As a matter of facts, although credit rating are different (since are Internal Approaches, as established by the Basel Committee), they have common features.
Even though banks should not use ratings for SMEs, whether the credit rating system works and it is integrated in the evaluation process, banks will implement lighter ratings for SMEs.
As results from some analysis conducted in these years, the Internal Rating Approach is usually based on:
1. Capability of self financing
2. Quantification and evaluation of the available Patrimony
3. Cash Flow
4. Quantity and incidence of passive interests
5. Evaluation of the environmental situations and conditions
In this scenario Debt Collecting Agencies may change their role of simple collectors, into a much more important and strategic one “of advisor of financial and credit management”. As a matter of facts, a Debt Collecting Agency has much more data and information of the creditor activity and performance, than they (the creditor, banks and Collecting agencies themselves) should imagine.
Analysis of customer (present and possible), analysis of cash-flow performance, terms of payment (forecasted and actual), strategies adopted to manage credit and financial risks, etc, are only few examples of the most important data and information useful to implement a better balance sheet and in order to have an higher standing in Bank rating.
More over these data are important even for Balance Sheet Certification Companies, which do their work only on documental evidence.
Manlio D'Agostino - Management Advisor
manliodagostino@virgilio.it
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Notas Destacadas
- 2012
- CREDIT PERFORMANCE Nº 106
- CREDIT PERFORMANCE Nº 105
- CREDIT PERFORMANCE Nº 104
- CREDIT PERFORMANCE Nº 103
- CREDIT PERFORMANCE Nº 102
- 2011
- CREDIT PERFORMANCE Nº 101
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- CREDIT PERFORMANCE Nº 92
- CREDIT PERFORMANCE Nº 91
- 2010
- CREDIT PERFORMANCE Nº 90
- CREDIT PERFORMANCE Nº 89
- CREDIT PERFORMANCE Nº 88
- CREDIT PERFORMANCE Nº 87
- CREDIT PERFORMANCE Nº 86
- CREDIT PERFORMANCE Nº 85
- CREDIT PERFORMANCE Nº 84
- CREDIT PERFORMANCE Nº 83
- CREDIT PERFORMANCE Nº 82
- CREDIT PERFORMANCE Nº 81
- CREDIT PERFORMANCE Nº 80
- 2009
- CREDIT PERFORMANCE Nº 79
- CREDIT PERFORMANCE Nº 78
- CREDIT PERFORMANCE Nº 77
- CREDIT PERFORMANCE Nº 76
- CREDIT PERFORMANCE Nº 75
- CREDIT PERFORMANCE Nº 74
- CREDIT PERFORMANCE Nº 73
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- CREDIT PERFORMANCE Nº 71
- CREDIT PERFORMANCE Nº 70
- CREDIT PERFORMANCE Nº 69
- CREDIT PERFORMANCE Nº 68
- 2008
- CREDIT PERFORMANCE Nº 67
- CREDIT PERFORMANCE Nº 66
- CREDIT PERFORMANCE Nº 65
- CREDIT PERFORMANCE Nº 64
- CREDIT PERFORMANCE Nº 63
- CREDIT PERFORMANCE Nº 62
- CREDIT PERFORMANCE Nº 61
- CREDIT PERFORMANCE Nº 60
- 2007
- CREDIT PERFORMANCE Nº 59
- CREDIT PERFORMANCE Nº 58
- CREDIT PERFORMANCE Nº 57
- CREDIT PERFORMANCE Nº 56
- CREDIT PERFORMANCE Nº 55
- CREDIT PERFORMANCE Nº 54
- CREDIT PERFORMANCE Nº 53
- 2006
- CREDIT PERFORMANCE Nº 52
- CREDIT PERFORMANCE Nº 51
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- CREDIT PERFORMANCE Nº 49
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- CREDIT PERFORMANCE Nº 41
- 2005
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- CREDIT PERFORMANCE Nº 39
- CREDIT PERFORMANCE Nº 38
- CREDIT PERFORMANCE Nº 37
- CREDIT PERFORMANCE Nº 36
- CREDIT PERFORMANCE Nº 35
- CREDIT PERFORMANCE Nº 34
- CREDIT PERFORMANCE Nº 33
- CREDIT PERFORMANCE Nº 32
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- CREDIT PERFORMANCE Nº 29
- 2004
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