ID: 27231
Authors:
Maria Elena Gava Reddo Alves, Fernando Pereira Tostes.
Source:
Revista de Contabilidade do Mestrado em Ciências Contábeis da UERJ (Online), v. 8, n. 1, p. 21-34, January-June, 2003. 14 page(s).
Keyword:
Credit Risk , Matrix Qualitative , Matrix Quantitative , Pricing , Ratings , Risk Credit Central , Risk Scale , Statistical Parameter
Document type: Article (Portuguese)
Show Abstract
Prior to the implementation of the Real Plan, the high inflation rates weakened the growth of the credit market. Credit operations that carried risk components were basically made on a very short-term basis. In many cases, in order to be able to appraise this risk factor, an evaluation of guarantees had to be performed, as well as an examination of record references. The changes witnessed in the Brazilian economy since then, combined with the concern of following international practices have stimulated a more sophisticated creation and use of evaluation systems and credit risk administration. Big financial institutions started to develop and implement evaluation techniques and assessment of the credit risk attributing “ratings” that represented their opinions about the capacity of accomplishment of financial commitment. A bond´s rating is one of the factors that is considered in the formation of the interest rates and is used to evaluate companys, countries or operations related to future payments. Since 1993, the Banco Nacional de Desenvolvimento Econômico e Social (BNDES, National Bank for Economical and Social Development), created a classification model, which have been used to compare the level of risk, counsel credit decisions and assign a value to operations. In this study the model and the credit risk measurement utilized by BNDES is presented, describing its elaboration process, the financial indicators used and measures the contribution of Accounting Sciences for its development.
