Economics & Finance | Françoise Clementi

criteria for loan approval

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The indicators on which the financial institution will be based to approve a loan: employment history, income, credit history, assets, debts, and property.

Firm that collects, stores, analyzes, summarizes, and sells credit related information on persons and firms for a fee. (source: http://www.businessdictionary.com/definition/credit-reporting-agency.html#ixzz26BkGpfI7)

credit risk

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The risk that a borrower will default on any type of debt by failing to make payments which it is obligated to do.(source: wikipedia.org )

credit risk management committee

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The purpose of the credit risk management committee is to address issues relating to credit policy and procedures. These policies and procedures should encompass clear

credit scorecard

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The traditional form of a credit scoring model is a scorecard. This is a table that contains a number of questions that an applicant is

credit side

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In the double-entry bookkeeping system, credit is the right side of a ledger account. (source: http://en.wikipedia.org/wiki/Debits_and_credits)

credit sqeeze

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Significant reduction in the supply of credit by banks due to the increase of the default rate and the lack of trust in theirs clients.

credit union

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Cooperative financial institution that makes low-interest personal loans to its members. It is usually composed of persons from the same occupational group or the same

credit history

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Record of a borrower’s payment behavior that reflects his or her ability to repay a loan. (Read more: http://www.businessdictionary.com/definition/credit-history.html#ixzz38BUkexTF) In many countries, a negative record