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1
Khadidja, Zerigui. "The client’s behaviour towards the bank in Algeria (Public Bank Vs Foreign Bank)." Financial Markets, Institutions and Risks 4, no. 1 (2020): 100–108. http://dx.doi.org/10.21272/fmir.4(1).100-108.2020.
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This paper summarizes the arguments and counterarguments within the scientific discussion regarding the behavioral aspects of customer choice of state or foreign bank banking services. The purpose of the study is to study and analyze the behavior of customers when choosing a bank category (state or foreign) to obtain banking services. In order to test the scientific hypotheses, we conducted a survey of clients and bank managers of 12 banks (6 states and 6 foreign). In Algeria, a separate range of financial transactions (in particular, housing lending and investment programs) is entrusted to state-owned banks only, so clients in Algeria do not leave state-owned banks, even if they also start servicing higher-quality foreign banks. The processing of the survey results showed that the key factors that determine the priorities in choosing clients of a state or foreign bank are: the reputation of the bank; tips from friends or acquaintances advice of a bank employee; accident; bank advertising (for foreign banks only). In addition, the choice of the bank by a client in Algeria is influenced by behavioral and institutional factors such as religion, traditions, and social customs. The survey found that just over half of the customers were satisfied with the services of state-owned banks, while 85% were completely satisfied with new banking technologies, ease of use and time savings among foreign bank clients. The main factors that determine the level of customer satisfaction with banking services are ease of knowing cash and payment for services; highly efficient organization and simplicity of credit mechanisms; adherence to the principles of Islamic finance by some foreign banks (alternative finance, where loans and savings do not imply interest rates); more advanced banking services (mainly for foreign banks). Keywords: bank, state bank, foreign bank, customer, competition, bank reputation, banking.
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Astuti, Dyah Widi. "LESSON LEARNT FROM KREDIT TRIGUNA: THE HOUSING FINANCE FOR LOW-INCOME COMMUNITY." Sinektika: Jurnal Arsitektur 1, no. 1 (July 10, 2015): 202–8. http://dx.doi.org/10.23917/sinektika.v1i1.1139.
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Financial aid or loan designed specifically for housing the low income community,especially they are working in informal sector, is necessary. To answer the need, abouttwo decades ago, Bank Tabungan Negara (BTN) or The State Savings Bank hadintroduced a loan package, named Kredit Triguna. Designed as a mixed microcreditpolicy, this loan implemented a fully concept of integrated approach. But it was onlyavailable for two years, and then discontinued. As one of the best practice microfinanceprograms at the time, this condition was considered as a unique case. This paper aimsto evaluate the previous microcredit policy, that was Kredit Triguna, in its implementation and to identify reasons for its success or failure in performance. As a sample of case study, a project of housing redevelopment in Kalianyar riverbank, Mojosongo, Surakarta using the loan is observed. The result of the study will help in developing new alternative scheme in housing finance for the low-income community.
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Acwin Dwijendra, Ngakan Ketut, and Ngakan Putu Sueca. "The Determinant Factor of Home Transformation in Bali, Indonesia." Journal of Social Sciences Research, no. 512 (December 25, 2019): 1855–60. http://dx.doi.org/10.32861/jssr.512.1855.1860.
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In the context of providing adequate housing, a large number of people in developing countries are transforming their homes. This informal housing provision also occurs in Bali, both in BTN (National Savings Bank) housing and in traditional homes. The purpose of this study was to determine a number of determinant factors of home transformation. To achieve the objectives, this study used a survey research strategy, and two case studies were selected. Using a questionnaire as the main tool, one hundred and sixty-six respondents were interviewed. Logistic regression analysis states that both household and residential characteristics are important determinants of transformation. Two home variables, namely the size of the house and the number of original beds are good predictors. The study also shows that four household characteristics appear to be important, namely total expenditure, number of residents, type of household, and ownership.
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Handayani, Fitri, Rahman Ambo Masse, and Sunuwati Sunuwati. "IMPLEMENTASI AKAD MURABAHAH PADA PEMBIAYAAN KPR DI BANK TABUNGAN NEGARA SYARIAH PAREPARE." BANCO: Jurnal Manajemen dan Perbankan Syariah 1, no. 1 (May 1, 2019): 45–68. http://dx.doi.org/10.35905/banco.v1i1.700.
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This study discusses the implementation of murabahah contracts on mortgage financing in the Parepare Islamic state savings bank. That the BTN Syariah bank is a unit of conventional Bank BTN which raises doubts about mortgage financing, whether or not it has implemented murabahah contracts in mortgage financing or not. As recommended by the DSN fatwa and Indonesian banks. This study aims to determine the implementation of the murabahah contract on mortgage financing at the Parepare Syariah State Savings Bank.
The results of this study indicate that: (1) the financing mechanism for mortgages at Bank BTN Syariah Parepare is in accordance with the rules of banks and government, the rules governed by the government are the rules regarding subsidized mortgages stipulated in PermenPUPR Number 21 / PRT / M / 2016 concerning convenience and or assistance in obtaining houses for low income people. PermenPUPR Number 26 / PRT / M / 2016 concerning changes to the ministerial regulations on public works and public housing number 21 / PRT / M / 2016 and PermenPUPR Republic of Indonesia Number 425 / KPTS / M / 2015 concerning limits on house selling prices that can be obtained through credit or financing of prosperous home ownership. (2) Implementation of murabahah contract at BTN Syariah Parepare bank, terms and conditions are in accordance with the principle of murabahah contract, murabahah contract has not implemented well on mortgage products at BTN Syariah Parepare bank due to the existence of murabahah contract elements which are not in accordance with the fatwa of the board national sharia-MUI. The element of the murabahah contract that is not in accordance with the DSN-MUI fatwa is the down payment and rescheduling. The elements of the murabahah contract are in accordance with the DSN-MUI fatwa, namely discounts, settlement of accounts receivable, fines and accelerated repayments.
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Nwuba, Chukwuma C., and Eunice Oluwakemi Chukwuma-Nwuba. "Barriers to accessing mortgages in Nigeria’s housing markets." International Journal of Housing Markets and Analysis 11, no. 4 (August 6, 2018): 716–33. http://dx.doi.org/10.1108/ijhma-10-2017-0089.
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PurposeThe purpose of this study is to investigate barriers to accessing mortgages in Nigeria’s urban housing markets with the main focus on Kaduna State. The objective was to establish the diverse factors that constitute barriers to urban households’ access to mortgages for homeownership from the perceptions of households, mortgage lenders and the Federal Mortgage Bank of Nigeria.Design/methodology/approachThe study used cross-sectional survey with triangulation of results. To enable the triangulation, three new samples were developed from 450 surveys with households and 10 completed by lenders, both in Kaduna State and one survey undertaken by the Federal Mortgage Bank of Nigeria. Data were collected with questionnaires designed on five-point Likert model. Data analysis utilized descriptive statistics and one-samplet-test. Triangulation enabled cross-validation of the results.FindingsThe barriers include low incomes and savings which constrain households’ ability to pay mortgage instalments and deposits, respectively, high interest rates, poor access to land, inability of potential borrowers to provide certificates of occupancy on their land, inadequate loanable funds and inadequate number of mortgage lending institutions.Practical implicationsThe study has the potential to provide a basis for mortgage market reforms. Mortgage market reforms should be encompassing because it requires action in some other sectors.Social implicationsThe social implication of the study is the possibility of motivating actions to deal with the diverse barriers to accessing mortgages which have constituted deterrents to households from realizing their homeownership aspirations and enjoying the benefits of homeownership and consequently contributing to inadequate housing and poor living conditions.Originality/valueThe study provides distinctive insight into Nigeria’s mortgage market by integrating the views of various stakeholders on a subject of social and economic significance. It contributes to the evidence-base around mortgage market reforms in Nigeria.
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Udoka, Chris O., and Mary Kpataene. "MORTGAGE FINANCING AND HOUSING DEVELOPMENT IN NIGERIA." International Journal of Research -GRANTHAALAYAH 5, no. 5 (May 31, 2017): 182–206. http://dx.doi.org/10.29121/granthaalayah.v5.i5.2017.1850.
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This study examined mortgage financing and housing development in Nigeria. The main focus of this research was to ascertain the impact of mortgage loan in housing development in Nigeria. To achieve this objective, data were extracted from CBN statistical bulletin and National Bureau of Statistics from 1990 to 2014. Three hypotheses were formulated and tested using econometric models such as Augmented Dickey-Fuller unit root test, the co-integration tests revealed the existence of a long-run relationship among the variables. The Error Correction Model established causal links and dynamic interactions between variables by granger causality test. The result of the findings showed a significant relationship between mortgage financing and housing development in Nigeria. Variables such as mortgage loan and interest rate had positive and significant impact on housing development while cost of building had a negative effect on housing development in Nigeria. Further findings revealed that mortgage bank deposit had positive effect on mortgage investment while inflation had a negative effect on mortgage investment. The study recommended that mortgage institution in Nigeria should develop strategies to mobilize more deposits and explore new sources of fund such as funds from the capital market via housing bonds, savings and loans from co-operative societies. Government should create an enabling environment for private housing sector in housing development in Nigeria by providing infrastructure and enhancing soundness and competitiveness of mortgage institutions in Nigeria.
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KOH, BENEDICT S. K., OLIVIA S. MITCHELL, TOTO TANUWIDJAJA, and JOELLE FONG. "Investment patterns in Singapore's Central Provident Fund System." Journal of Pension Economics and Finance 7, no. 1 (November 16, 2007): 37–65. http://dx.doi.org/10.1017/s1474747207003253.
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AbstractRising elderly life expectancies imply the need to accumulate sufficient savings for retirement. This paper investigates the role of recent changes in the investment menu of the Singaporean Central Provident Fund (CPF) system. Our research explores the investment patterns of CPF participants and articulates their implications for policymakers. We find that most investors use their money for housing purchase and default the remainder to the CPF investment pool. The bulk of non-housing saving sits in bank accounts paying a low return. A fraction of workers does elect outside investment products, with high-income earners and males taking more risk than low-income earners and females. Since workers who default their money to the CPF fund receive a guaranteed 2.5% return on the Ordinary Account and 4% on the Special Account, hurdle rates for money market and equity funds are substantial. These high hurdle rates help explain why few CPF account holders invest outside the default government investment pool, though inertia probably explains why many employees let their funds sit in bank accounts earning low interest rates. More attention could be devoted to lowering fund expenses and commissions, including the myriad of fees, expenses, loads, and wrap charges; it might also be beneficial to streamline and rationalize the investment menu offered to participants.
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García-Alcober, M. Pilar, Diego Prior, Emili Tortosa-Ausina, and Manuel Illueca. "Risk-taking behavior, earnings quality, and bank performance: A profit frontier approach." BRQ Business Research Quarterly 23, no. 4 (October 2020): 285–304. http://dx.doi.org/10.1177/2340944420966870.
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After the financial crisis of 2007–2008, some bank performance dimensions have been the subject of debate, two of which are bank efficiency and bank risk-taking behavior. The literature on bank efficiency and productivity has grown considerably over the past three decades, and has gained momentum in the aftermath of the financial crisis. Interest in bank risk-taking behavior, usually focusing on its links to monetary policy, has been relatively low, but has also increased exponentially in more recent years. This article combines these two streams of research. Specifically, we test whether more inefficient banks take greater risks when selecting borrowers, charging interests, and requiring collateral, and whether these links between inefficiency and risk change according to the type of bank. Our analysis centers on the Spanish banking system, which has been severely affected by the burst of the housing bubble and has undergone substantial restructuring. To test our hypotheses, we created a database with information on banks and savings banks, their borrowers (non-financial firms), and the links between them. The study also contributes to the literature by considering a novel profit frontier approach. Our results suggest that more inefficient banks take greater risks in selecting their borrowers, and that this high-taking behavior is not offset by higher interest rates. JEL CLASSIFICATION C14; C61; G21; L50
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Rossi, Sergio. "The dangerous ineffectiveness of negative interest rates: the case of Switzerland." Review of Keynesian Economics 7, no. 2 (April 2019): 220–32. http://dx.doi.org/10.4337/roke.2019.02.07.
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This paper argues that the negative interest rate adopted by the Swiss National Bank in 2015 has elicited a series of negative consequences across the Swiss economy. It has led an increasing number of agents to invest their savings in the real-estate market, whose prices have overheated, threatening the eruption of a housing crisis. It has also induced a number of financial institutions to turn to riskier businesses in an attempt to continue to earn some returns, thereby increasing financial fragility at systemic level. The paper suggests that a small Tobin tax on all Swiss-franc purchases may contribute to the support of domestic economic activities much better than negative rates of interest.
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Derii, Vasyl, Mariia Gumenna-Derii, and Lyudmyla Kruchak. "Control over costs and resource savings in the process of logistics activities of construction enterprises: methods, organization." Herald of Economics, no. 1(99) (February 1, 2021): 111. http://dx.doi.org/10.35774/visnyk2021.01.111.
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Introduction. In the process of managing the logistics activities of these enterprises, an important role is given to control over costs and resource savings. These components of management allow to constantly monitor the pace of housing construction and identify problems that arise there in order to eliminate objective obstacles, ensure compliance with construction schedules at the stages of the construction process, delivery of finished housing to individual customers in the agreed time and with declared, in contractual obligations, its quality.Purpose. The purpose of the article is to critically analyze publications on the problems of economic control of costs and resource savings, logistics activities in enterprises, including construction, and to develop their own position and proposals of the authors to solve these problems.Method (methodology). In the process of researching this topic, the following methods were used: monographic – in order to study the literature on economic control over costs and resource savings in the process of logistics activities of construction companies; regulatory and legal support – in order to identify violations of Ukrainian legislation in the field of construction and logistics; tabular – to build a table on the methodology of audit control of logistics costs and their resource savings in the process of logistics activities of construction companies, etc.Results. Control over logistics costs (state and domestic) and savings (overspending) of resources in construction enterprises should be carried out in the form of monitoring, verification, aimed at their rational use of resources (building materials and structures, electricity, fuel, lubricants, water, etc.), that is, to save money during the design of the construction object, preparation of the construction site for the beginning of capital construction, the implementation of direct construction and installation work, delivery- acceptance of the constructed object into operation.Bankruptcy of the construction company «Elita-Center», Bank «Arcade», serious violations in the activities of «Ukrbud», unsuccessful reform of DABI, explosion of a residential building in Poznyaki revealed an acute problem in the renewal of the Ukrainian housing stock. There is a relevant practice in the world aimed at protecting the interests of people who invest in housing (in the UK, Israel, Poland). It must be taken into account in Ukraine.Outsourcing specialists can be involved in work in construction organizations (enterprises) on a contractual basis, which will allow these organizations (enterprises) to save time and save costs for logistics operations.The audit of logistics costs (external and internal) and resource savings in the process of logistics activities in construction makes it possible to establish the reasons for deviations from such costs and certain officials who are involved in these deviations in construction companies. It should be noted here that deviations can be manifested not only in the overspending of logistics costs and resources, but also in their savings (in this case, the official must be encouraged in some way). Perspectives. Promising are the studies aimed at the general improvement of the system of economic control over the activities of construction companies and each of their logistics in the development of the digital economy and overcoming the consequences of the fight against СOVID-19.
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Hwang, Sewoong, and Jonghyuk Kim. "Toward a Chatbot for Financial Sustainability." Sustainability 13, no. 6 (March 13, 2021): 3173. http://dx.doi.org/10.3390/su13063173.
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This study examines technology effectiveness for industry demand in which artificial intelligence (AI) is applied in the financial sector. It summarizes prior studies on chatbot and customer service and investigates theories on acceptance attitudes for innovative technologies. By setting variables, the study examines bank revenue methodologically and assesses the impact of customer service and chatbot on bank revenues through customer age classification. The results indicate that new product-oriented funds or housing subscription savings are more suitable for purchase through customer service than through chatbot. However, services for existing products through chatbot positively affect banks’ net income. When classified by age, purchases by the majority age group in the channel positively affect bank profits. Finally, there is a tendency to process small banking transactions through the chatbot system, which saves transaction and management costs, positively affecting profits. Through empirical analysis, we first examine the effect of an AI-based chatbot system implemented to strengthen financial soundness and suggest policy alternatives. Second, we use banking data to increase the study’s real-life applicability and prove that problems in customer service can be solved through a chatbot system. Finally, we investigate how resistance to technology can be reduced and efficiently accommodated.
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Volkova, Nelia, and Kateryna Khamula. "Mortgage Loan: Assessment of the Current Situation and Impact on the Solution of Housing Problems." ЕКОНОМІКА І РЕГІОН Науковий вісник, no. 3(78) (December 15, 2020): 78–85. http://dx.doi.org/10.26906/eir.2020.3(78).2000.
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The development of the mortgage market solves both the economic problems of activation and efficient use of financial resources, and social problems in attracting social groups to meet their needs through the mechanism of the financial market. This determines the pattern of development of ways to ensure and develop these processes in Ukraine, their theoretical justification, taking into account the peculiarities of the national economy and current global trends in the development of housing mortgage lending. The purpose of the work is to develop theoretical principles, guidelines and practical recommendations for improving the mortgage lending system in Ukraine. To achieve this goal, the following tasks were set: to summarize the theoretical provisions on the essence of mortgage lending; to analyze the current state of mortgage lending in Ukraine; identify conceptual approaches to enhancing the importance of mortgage credit in solving housing problems. The object of study is the process of assessing mortgage lending. The subject of the research is theoretical-methodical and practical aspects of mortgage lending in Ukraine and its impact on solving housing problems of the population. The paper summarizes the theoretical provisions on the essence of mortgage lending as an effective means of transforming capital tied to real estate; thanks to the analysis of the current state of mortgage lending in Ukraine it is proved that it is one of the most mobile segments of the financial market and today real estate lending has intensified and started to grow, but significant mortgage lending as before the crisis, unfortunately, has not yet been achieved; conceptual approaches to strengthening the importance of mortgage credit in solving housing problems, which are to improve the mortgage lending system in Ukraine. The information base of the study consisted of official materials of the National Bank of Ukraine, performance indicators of JSC "State Savings Bank of Ukraine", JSC CB "Globus", PJSC JSCB "Arcade", JSB "Ukrgasbank", materials of scientific conferences, Internet sources. The scientific novelty of this work is to substantiate the theoretical, legal provisions and provide practical recommendations for improving the mortgage lending system in Ukraine.
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McDonald, Oonagh Anne. "The federal housing finance agency’s complaints against seventeen banks." Journal of Financial Crime 23, no. 1 (December 31, 2015): 22–44. http://dx.doi.org/10.1108/jfc-09-2015-0047.
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Purpose – The purpose of this paper is to examine the basis of the complaints against banks which sold private label securities to Fannie Mae and Freddie Mac before the financial crisis. The examination shows that all but one of the cases was settled out of court. Nomura and RBS went to court, but the case against them was based on dubious evidence and on strict liability which only enabled the judge to set aside relevant evidence. The Securities and Exchange Commission’s evidence against senior executives of Fannie and Freddie shows that they deliberately purchased PLSs based on subprime loans to meet the government’s housing targets. Design/methodology/approach – The research was based on publicly available documents, including details of the Federal Housing Finance Agency’s (FHFA) complaints against the banks in question, the settlement agreements published by the DoJ, FHFA and SEC. Furthermore, it includes documentary evidence from the Financial Crisis Inquiry Committee and Senate Committees, the full transcript of the trial, opinions of the judge for the trial and the judgement. Findings – The findings are that many have concluded that settlements out of court fail to satisfy the demand for justice. They have been criticised as a trade-off between the prosecutor and the bank, with a view that the imposition of large fines is to pay back taxpayers’ money spent on rescuing the banks, rather than punishing those responsible. Such fines do little, if anything, to change the behaviour of banks. As a result, the Department of Justice issued a memorandum on 9 September to focus on individual accountability for corporate wrongdoing. It remains to be seen how many cases against senior executives will result from the change in direction. Research limitations/implications – The implications of the research are that it is important even in the aftermath of such a serious if not devastating financial crisis to ensure that the laws are properly applied and can stand up to any challenge that it has been stretched to obtain the results the administration of the day wants to see. In addition, care must be taken over both the imposition of large fines and the use to which the monies should be put. All the parties involved in bringing about the crisis should be held to account. The major cases against the banks have almost all been “resolved”. A change in direction has now taken place. Practical implications – The practical implications of holding individuals to account should now be tackled. It requires a careful examination of the laws and regulations already in place to ensure that it is clear within a bank as to who is responsible for what. It will only be possible to hold senior individuals to account if the laws are clear and if all the evidence is not hidden. It may also require a review of the contracts under which senior executives are employed, because to remove a person from his post and then find that he still has a large pension pot and bonuses due may not result in justice either. A delicate balancing act is required because banks require highly competent and motivated individuals to run them. Social implications – If a very large fine is imposed on a bank, the shareholders and customers pay. The shareholders will mostly own the shares through their pensions and their savings in mutual funds. Originality/value – There have been few studies of all the cases against the banks brought by the DoJ and FHFA and still fewer have recognized the fact that government housing policy was the source of the extent of the subprime mortgages.
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Aleksandrova, O. A., and E. I. Borkovskaya. "“Buy or Rent”: What Do Metropolitan Youth Choose." Humanities and Social Sciences. Bulletin of the Financial University 9, no. 5 (December 4, 2019): 97–105. http://dx.doi.org/10.26794/2226-7867-2019-9-5-97-105.
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In the framework of financial literacy research, young people look like a not-too-responsible subject, prone to irrational consumption and not having the habit of long-term financial planning . However, the social context in which the burden of social spending is increasingly shifted onto the shoulders of the citizens, requires from them financial discipline, knowledge of financial instruments, and rational decisions . The article analyses the behaviour of metropolitan youth in the housing market . We showed that in the long term, the majority of young people are focused on the purchase of their own homes . It is due to the reluctance in the presence of the family to depend on the landlord and direct their funds into the “other people’s pocket”, as well as the perception of their housing as an asset . Satisfying modest requests of respondents is impossible without seeking financial assistance . A little more than half of the respondents see a bank as a lender, and more than a third of respondents see relatives or friends as a lender . Nearly half of the participants in the mass survey directly or indirectly faced mortgage lending; in most cases this experience was “rather positive” . As an alternative solution to the housing problem, young people see rent, the main advantage of which is increased mobility . Rent is not excluded and in the presence of own housing, which in this case will be rented . Despite their generally optimistic attitude, about half of the respondents believe that today housing is an intractable problem for young people . According to respondents, the state could help young people by implementing such measures as monitoring the reasonableness of pricing; subsidising mortgage interest or allocating quotas for young families and scarce staff; development of rental housing; increase of scholarships and promotion of employment for graduates so that young people start forming savings as early as possible; effective regional development policy allowing to unload the capital.
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Биханова, A. C., and C. C. Ургушева. "СУЧАСНИЙ СТАН І ОСОБЛИВОСТІ ІПОТЕЧНОГО КРЕДИТУВАННЯ В РЕСПУБЛІЦІ КАЗАХСТАН." TIME DESCRIPTION OF ECONOMIC REFORMS, no. 3 (October 18, 2019): 41–47. http://dx.doi.org/10.32620/cher.2019.3.05.
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Formulation of the problem. The development of mortgage lending brings significant benefits to the state. First of all, it helps to solve the housing problem, which is important from the point of view of social policy. This encourages citizens' own initiative. In addition, domestic investment - savings of the populapopulation, money of institutional investors - is involved in lending. The purpose of the article is to reflect the current state and features of mortgage lending in the Republic of Kazakhstan (Kazakhstan). The subject of the research is mortgage relations regarding housing lending in the Republic of Kazakhstan. Methods used in the research: analysis and synthesis, induction and deduction, logical and historical method, scientific abstraction and statistical comparisons. The hypothesis of the research is to substantiate the value of the mortgage to improve the stability and efficiency of the banking system of the country. Secured loans are more secure for banks, because when a loan is not repaid, the bank pledges and repays its funds. Statement main material of the research. In the Republic of Kazakhstan, there is an increase in loans granted to households by second-tier banks for the purchase of housing. Currently, mortgage lending in Kazakhstan is a real opportunity to buy real estate for many working Kazakhstani people with a stable income. Especially in view of the fact that recently, in all mortgage companies, the mandatory first deposit has been reduced from 30% to 10% - 15% of the cost of housing, the loan term has been increased from 3 to 20 years, and the interest rate has decreased from 24 % (2001) to 8% (2018). Originality and practical significance of the research. The proposed measures will provide additional impetus for the revitalization of the Mortgage Lending Program and accelerate the implementation of the President's instructions to provide affordable housing for citizens. Conclusions of the research. In the short term, the massive introduction of a home mortgage lending system will cause an increase in housing demand. Due to the inelastic demand in the housing market in the short term, it is natural that such a situation will lead to an increase in housing prices. The role of the state is to gradually introduce mortgage lending and, at the same time, to systematically expand the housing market by supporting the construction of new homes and creating adequate demand.
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Yusuf, Rifki, and Maryanto Maryanto. "Peran Notaris Dalam Penggunaan Akta SKMHT Yang Tidak Diikuti APHT Terhadap Debitor Wanprestasi Terkait Pemberian Fasilitas Kredit Pemilikan Rumah Subsidi (Studi Kasus di Bank Tabungan Negara Pekalongan)." Jurnal Akta 5, no. 1 (March 16, 2018): 275. http://dx.doi.org/10.30659/akta.v5i1.2616.
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ABSTRAK Kabupaten Pekalongan merupakan lokasi yang memiliki potensi tinggi dalam penggunaan Surat Kuasa Membebankan Hak Tanggungan (SKMHT), hal ini disebabkan oleh gencarnya pembangunan oleh masyarakat yang membutuhkan dana besar yang antara lain berasal dari kredit yang diperoleh dengan menggunakan lembaga Hak Tanggungan yang selanjutnya menimbulkan berbagai masalah seperti apabila debitor wanprestasi. BTN selaku kreditor dalam pemberian KPR bersubsidi kepada debitor umumnya tidak menguasai benda yang menjadi jaminan kredit secara fisik, tetapi hanya memiliki hak kebendaan secara administratif. Pengikatan obyek jaminan yang berupa tanah, yaitu Hak Milik, Hak Guna Bangunan dan Hak Guna Usaha, prosesnya hanya sampai dengan Surat Kuasa Membebankan Hak Tanggungan (SKMHT) saja, dengan tidak dibebankan Hak Tanggungan atas obyek jaminan tersebut, maka BTN belum memiliki hak kebendaan atas jaminan tersebut secara faktual.Tujuan dari penelitian ini adalah untuk mengkaji dan menganalisis peran notaris dalam hal debitor wanprestasi, penggunaan SKMHT yang tidak diikuti APHT dalam hal debitor wanprestasi terkait dengan pemberian fasilitas Kredit Pemilikan Rumah Subsidi pada Bank Tabungan Negara serta upaya pihak Bank Tabungan Negara dalam hal debitor wanprestasi terhadap pemberian fasilitas Kredit Pemilikan Rumah. Metode yang digunakan dalam penelitian ini adalah metode analisis kualitatif, yaitu data yang diperoleh disusun secara sistematis kemudian dianalisis secara kualitatif agar dapat diperoleh kejelasan masalah yang akan dibahas.Dalam penelitian ini disimpulkan bahwa dalam menghadapi debitor wanprestasi Bank BTN mengambil langkah melakukan penjualan kembali dengan menggunakan kuasa menjual yang tercantum dalam akta “Pengakuan Hutang”, serta peningkatan SKMHT ke APHTkepada calon debitor, dan peran notaris yang hanya sebagai pembuat akta sehingga tidak turut serta jika terjadi wanprestasi.Kata kunci: Notaris, SKMHT, APHT, wanprestasi ABSTRACTPekalongan Regency is a location that has a high potential in the use of Power of Attorney Charging the Guarantee Right (SKMHT), this is caused by incessant development by people who need big fund which among others comes from the credit obtained by using the Mortgage Institution which further cause various problems such as if the debtor is defaulted. BTN as a creditor in the granting of subsidized KPR to the debtor generally does not control objects that become credit for physical security, but only have the right of property administratively. The binding of the object of collateral in the form of land, namely Right of Ownership, Building Rights and Cultivation Right, the process is only up to the Power of Attorney Charging the Guarantee Right (SKMHT) only, without the burden of the Guaranteed Fund on the object of the guarantee, BTN has no material right the guarantee is factual.The purpose of this study is to examine and analyze the role of a notary in the case of debtor wanprestasi, the use of SKMHT not followed APHT in the case of debtor wanprestasi associated with the provision of Subsidized House Ownership Credit in the State Savings Bank and the efforts of the State Savings Bank in the case of debt defaulting to the grant Housing Loan facility. The method used in this study is the method of qualitative analysis, the data obtained is arranged systematically and then analyzed qualitatively in order to obtain clarity of issues to be discussed.In this study it is concluded that in the face of debtor wanprestasi Bank BTN take steps to resell by using the power of sale which stated in deed "Recognition of Debt", and increase SKMHT to APHT to debitor candidate, and notary role which only as deed maker so do not participate if there was a default.Keywords: notary, SKMHT, APHT, wanprestasi
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Rochman, Arif, Dharu Triasih, and Agus Saiful Abib. "Tinjauan Hukum Islam Terhadap Sistem Transaksi Kredit Pemilikan Rumah (KPR) Di Bank Tabungan Negara Syariah (BTN Syariah) Semarang." Hukum dan Masyarakat Madani 7, no. 3 (June 22, 2019): 167. http://dx.doi.org/10.26623/humani.v7i3.1425.
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<p>Rumah adalah kebutuhan dasar yang sangat penting bagi setiap orang. namun sebagian orang masih belum memiliki rumah sendiri. Faktor penyebabnya adalah mahalnya harga tunai rumah. Oleh karena itu pemerintah melalui menteri perumahan rakyat membuat program Kredit Pemilikan Rumah (KPR). Program KPR ini ditujukan untuk masyarakat berpenghasilan rendah yang disebut KPR subsidi. Salah satu bank yang menjadi pelaksana program tersebut yaitu Bank Tabungan Negara Syariah (BTN Syariah). Penelitian skripsi ini mengenai sistem transaksi KPR yang dilakukan oleh BTN Syariah Semarang dan tinjauan hukum Islam terhadap sistem transaksi KPR di BTN Syariah Semarang. Jenis penelitian ini menggunakan penelitian hukum normatif dengan pendekatan konseptual agar dapat memahami sistem transaksi KPR BTN Syariah yang menggunakan prinsip Islam. Hasil dan pembahasan penelitian ini yaitu sistem transaksi KPR yang dilakukan BTN Syariah menggunakan akad jual beli <em>murabahah </em>dan <em>istishna</em>. Tinjauan hukum Islam terhadap Akad <em>murabahah </em>yaitu dengan 3 pendekatan yang terdiri dari ditinjau dari rukun jual beli, syarat sah jual beli serta syarat jual beli kredit. Untuk akad <em>Istishna</em>, BTN Syariah tidak bisa menggunakan akad ini karena BTN Syariah bukanlah produsen melainkan <em>trader</em>. Simpulannya skema transaksi KPR yang dilakukan BTN Syaraih hakekatnya bukan jual beli <em>murabahah </em>atau <em>istishna</em>, tetapi hutang piutang / <em>qardh</em>.</p><div class="WordSection1"><p><em>Home is a basic need that is very important for everyone. but some people still do not have their own home. The factor is the high cost of house cash. Therefore, the government through the minister of public housing makes the program of Housing Loans (KPR). The mortgage program is aimed at low-income communities called subsidized KPR. One of the banks that became the implementer of the program is the State Savings Bank Syariah (BTN Syariah). This thesis research about mortgage transaction system conducted by BTN Syariah Semarang and review of Islamic law to mortgage transaction system in BTN Syariah Semarang. This type of research uses normative legal research with a conceptual approach in order to understand the transaction system of KPR BTN Syariah using Islamic principles. Results and discussion of this research is a system of mortgage transactions conducted BTN Syariah using the sale and purchase agreement murabaha and istishna. Review of Islamic Law against Murabahah Akad that is with 3 approach consisting of observed from rukun jual beli, legal condition of sale and purchase and condition of sale and purchase credit. For Istishna contract, BTN Syariah can not use this contract because BTN Syariah is not a producer but trader. The conclusion of the scheme of mortgage transactions conducted by BTN Syaraih is not the sale and purchase of murabahah or istishna, but the accounts payable / qardh.</em></p></div>
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Tuccillo, Danilo, Caterina Ferrone, and Francesco Agliata. "Evaluation of the integration between corporate and financial performance: The social impact bond financial instrument." Corporate Ownership and Control 15, no. 3 (2018): 138–44. http://dx.doi.org/10.22495/cocv15i3art12.
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The social impact bond (SIB), at the present in Italy, is a financial instrument issued by a bank to support social initiatives in which the subscriber will receive a limited financial return on investment. As part of that performance, the social return for the community is considered as an integration of the financial performance that will replace a part of the interest rate. The first experience in Italy is represented by a bank that has issued 45 Social Bond for 472 million euros. The research analyses, on the basis of the character-ristics of the third sector in Italy, with particular reference to the financial weakness of the sector, the possible impact on the financial management process in the social enterprises by the use of SIB. Moreover, we would demonstrate that, with a well-conducted cost-benefit analysis, it is possible to construct a hypothesis of SIB in which the repayment is based on market rate. In particular, is proposed the development of a SIB with the objective of formulating hypotheses of response to the innovative following questions: Given certain cost drivers, what social outcomes would generate savings for the state budget able to fully repay the fixed costs of the SIB, to give a percentage of the benefit to the government and to ensure the repayment to investors? How to identify the timing of cash flows in order to structure a potential internal rate of return objective satisfactory for investors? Due to the lack of already developed case studies, with the technics of the business plan, we analyse the impact of SIB on social and financial performance, both from the point of view of the Public Administration and of the social enterprise, in a project of social housing introducing a remuneration rate at market level. The development of the project shows that, with the integration of the private and public perspective, it is possible to improve the social and financial performance offering an adequate interest rate and, moreover, without limit the hypothesis of SIB underwriting to the philanthropic institution.
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Rochman, Arif, Dharu Triasih, and Agus Saiful Abib. "TINJAUAN HUKUM ISLAM TERHADAP SISTEM TRANSAKSI KREDIT PEMILIKAN RUMAH (KPR) DI BANK TABUNGAN NEGARA SYARIAH (BTN SYARIAH) SEMARANG." Hukum dan Masyarakat Madani 7, no. 3 (December 18, 2017): 167. http://dx.doi.org/10.26623/humani.v7i3.1029.
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<p>Rumah adalah kebutuhan dasar yang sangat penting bagi setiap orang. namun sebagian orang masih belum memiliki rumah sendiri. Faktor penyebabnya adalah mahalnya harga tunai rumah. Oleh karena itu pemerintah melalui menteri perumahan rakyat membuat program Kredit Pemilikan Rumah (KPR). Program KPR ini ditujukan untuk masyarakat berpenghasilan rendah yang disebut KPR subsidi. Salah satu bank yang menjadi pelaksana program tersebut yaitu Bank Tabungan Negara Syariah (BTN Syariah). Penelitian skripsi ini mengenai sistem transaksi KPR yang dilakukan oleh BTN Syariah Semarang dan tinjauan hukum Islam terhadap sistem transaksi KPR di BTN Syariah Semarang. Jenis penelitian ini menggunakan penelitian hukum normatif dengan pendekatan konseptual agar dapat memahami sistem transaksi KPR BTN Syariah yang menggunakan prinsip Islam. Hasil dan pembahasan penelitian ini yaitu sistem transaksi KPR yang dilakukan BTN Syariah menggunakan akad jual beli <em>murabahah </em>dan <em>istishna</em>. Tinjauan hukum Islam terhadap Akad <em>murabahah </em>yaitu dengan 3 pendekatan yang terdiri dari ditinjau dari rukun jual beli, syarat sah jual beli serta syarat jual beli kredit. Untuk akad <em>Istishna</em>, BTN Syariah tidak bisa menggunakan akad ini karena BTN Syariah bukanlah produsen melainkan <em>trader</em>. Simpulannya skema transaksi KPR yang dilakukan BTN Syaraih hakekatnya bukan jual beli <em>murabahah </em>atau <em>istishna</em>, tetapi hutang piutang / <em>qardh</em>.</p><p> </p><div class="WordSection1"><p><em>Home is a basic need that is very important for everyone. but some people still do not have their own home. The factor is the high cost of house cash. Therefore, the government through the minister of public housing makes the program of Housing Loans (KPR). The mortgage program is aimed at low-income communities called subsidized KPR. One of the banks that became the implementer of the program is the State Savings Bank Syariah (BTN Syariah). This thesis research about mortgage transaction system conducted by BTN Syariah Semarang and review of Islamic law to mortgage transaction system in BTN Syariah Semarang. This type of research uses normative legal research with a conceptual approach in order to understand the transaction system of KPR BTN Syariah using Islamic principles. Results and discussion of this research is a system of mortgage transactions conducted BTN Syariah using the sale and purchase agreement murabaha and istishna. Review of Islamic Law against Murabahah Akad that is with 3 approach consisting of observed from rukun jual beli, legal condition of sale and purchase and condition of sale and purchase credit. For Istishna contract, BTN Syariah</em></p></div><p> </p><p> </p><p> </p><p> </p><p><em>can not use this contract because BTN Syariah is not a producer but trader. The conclusion of the scheme of mortgage transactions conducted by BTN Syaraih is not the sale and purchase of murabahah or istishna, but the accounts payable / qardh.</em></p>
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Vo, Anh The, Chi Minh Ho, and Duc Hong Vo. "Understanding the exchange rate pass-through to consumer prices in Vietnam: the SVAR approach." International Journal of Emerging Markets 15, no. 5 (December 16, 2019): 971–89. http://dx.doi.org/10.1108/ijoem-10-2018-0551.
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Purpose The purpose of this paper is to examine the degree of the exchange rate pass-through (ERPT) to the consumer price index (CPI) at both aggregated and disaggregated levels in Vietnam. Updated data of the nominal effective exchange rate (NEER) and bilateral exchange rate (BiER) have been utilized in this study for the comparison purposes. Design/methodology/approach Advanced time-series approaches such as a structural vector autoregressive framework, structural impulse response functions (SIRFs), and structural forecast-error variance decomposition (SFEVD) are utilized in this paper. Findings Empirical findings from this paper present an incomplete degree of the ERPT to the aggregated CPI. The ERPT based on the BiER is observed to have substantially larger magnitude than the NEER-based pass-through. For the disaggregated level, the degree of the ERPT varies considerably across sub-components of the CPI, with a higher magnitude of the ERPT elasticity being found from the BiER estimations. The index of housing and construction materials has the largest ERPT based on the BiER, followed by the food and foodstuffs (1.00 and 0.56, respectively). The macroeconomic and financial environments as well as an economic integration into the global market may be the main causes of a higher ERPT in Vietnam in comparison with other ASEAN countries. Research limitations/implications The significant and incomplete pass-through of the exchange rate in Vietnam can affect firms’ and households’ budget planning, savings and profits. This finding generally implies that the cost of devaluation of the domestic currency affects the society as the whole in terms of welfare. The State Bank of Vietnam should carefully consider the overall effect of welfares when formulating and implementing strategies of currency devaluation. In addition, the Vietnamese economy becomes more sensitive to external vulnerabilities via changes of the exchange rate during an increasingly economic integration into the global market. In order to maintain inflation stability, it is vitally important to reduce the impact of exchange rate movements on the domestic prices, both aggregated and disaggregated levels, by pursuing either monetary policy credibility or inflation targeting. Originality/value Previous studies on the ERPT literature in the Asia region or for emerging countries focus mainly on the aggregated data of the CPI. Previous studies were conducted before the global financial crisis in 2008/2009. The current paper is the first of its kind to examine the pass-through from exchange rates to consumer prices in Vietnam using both aggregated and disaggregated data.
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Koumpias, Antonios Marios, Jorge Martínez-Vázquez, and Eduardo Sanz-Arcega. "Housing bubbles and land planning corruption: evidence from Spain’s largest municipalities." Applied Economic Analysis ahead-of-print, ahead-of-print (August 19, 2021). http://dx.doi.org/10.1108/aea-11-2020-0159.
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Purpose The purpose of this paper is to quantify to what extent the housing bubble in the early-to-mid 2000s in Spain exacerbated land planning corruption among Spain’s largest municipalities. Design/methodology/approach The authors exploit plausibly exogenous variation in housing prices induced by changes in local mortgage market conditions; namely, the rapid expansion of savings banks (Cajas de Ahorros). Accounting for electoral competition in the 2003–2007 and 2007–2009 electoral cycles among Spanish municipalities larger than 25,000 inhabitants, the authors estimate a positive relationship between housing prices and land planning corruption in municipalities with variation in savings bank establishments using instrumental variables techniques. Findings A 1% increase in housing prices leads to a 3.9% points increase in the probability of land planning corruption. Moreover, absolute majority governments (not needing other parties’ support) are more susceptible to the incidence of corruption than non-majority ones. Two policy implications to address corruption emerge: enhance electoral competition and increase scrutiny over land planning decisions in sparsely populated. Originality/value First empirical evidence of a formal link between the 2000s housing bubble in Spain and land planning corruption.
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"HOUSING SUBSIDY AS IRREVERSIBLE TARGETED STATE SOCIAL ASSISTANCE TO CITIZENS." Journal of V. N. Karazin Kharkiv National University, Series "Law", no. 27 (2019). http://dx.doi.org/10.26565/2075-1834-2019-27-08.
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The urgency of this topic is unmistakable and due to the fact that it is undergoing significant changes to date. Namely, the provision of a housing subsidy today has a new form. The article determines what kind of social assistance it offers, such as state aid for the payment of housing and communal services, discloses and justifies the procedure for receiving citizens of this type of state social assistance provided by the state, which cares for the needy citizens and their family members. Article 46 of the Constitution of Ukraine specifies the right of a person to social protection at the expense of budgetary funds. In accordance with the Law of Ukraine “On Housing and Communal Services”, adopted in 2017 by the Verkhovna Rada of Ukraine, it noted that the benefits and subsidies for the payment of housing and communal services from January 1, 2019 are paid to the consumer in cash and in the manner determined by the Cabinet of Ministers of Ukraine. The important issue, in this case, is that such assistance for the payment of housing and communal services should have targeted use and was directed specifically to pay for such services. The article analyzes the Resolution of the Cabinet of Ministers of Ukraine No. 1176 in which we can see the mechanism of the targeted use of budgetary funds provided by the state to provide subsidies to the population. Therefore, a fair decision is that if the family has conscientiously referred to the use of residential communications and saved energy resources, water, heat energy, gas, by the results of the heating season, it can use at its own discretion and for its own purposes the balance of funds remaining as a result of economical use and savings of housing the subsidy that is on her account. Such a form of savings is interesting primarily for the family itself, which should stimulate an individual, who has a right to receive such a subsidy, reasonable and rational use of residential communications provided by the state. From 2019, subsidies were provided to citizens for the payment of housing and communal services in cash in two models of monetization, which operate simultaneously: 1) transfer of funds at the central level to a bank account in state bank “Oschadbank” with a special regime of use, followed by their referral for payment of housing and communal services; 2) the provision of housing subsidies in cash directly to the recipient. It reveals an understanding of monetization the concept. Monetization is a process of transition from the transfer of subsidies in the cashless form to the accounts of providers of housing and communal services to the provision of subsidies to citizens in cash. The purpose of such monetization is to create a transparent mechanism for providing housing subsidies and to encourage citizens to make economical, reasonable consumption. It is determined that today two models of monetization are introduced: cashless money form and cash form. Upon receipt of any information related to the appointment of a housing subsidy, the recipients of the subsidy should apply to the social protection bodies of citizens.
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Hermuningsih, Sri, Pristin Prima Sari, and Anisya Dewi Rahmawati. "THE INFLUENCE OF THIRD-PARTY FUNDS, NON-PERFORMING LOANS (NPL) ON CREDIT DISTRIBUTION WITH PROFITABILITY AS INTERVENING VARIABLE IN COMMERCIAL BANKS." International Journal of Economics, Business and Accounting Research (IJEBAR) 4, no. 02 (June 23, 2020). http://dx.doi.org/10.29040/ijebar.v4i02.988.
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Banks are financial institutions that collect and distribute funds in the forms of deposits such as savings, deposits, current accounts, etc. from and for people who need funds for various needs, such as for consumption, working capital or business capital, housing and investment. In addition, banks must help the community to improve their living standards by distributing funds or giving credit to people who need funds. This is in accordance with the function of the bank itself, namely the bank as the distributor of funds.
The purpose of this research is to examine and obtain evidence about factors that influence loan distribution at a bank. Internal factors that influence loan distribution are Third Party Funds, Non-Performing Loans, and Profitability. Efforts to increase credit at banks require optimal efforts to raise third-party funds, good credit management, and capital strengthening. This type of research is quantitative research with purposive sampling technique. The population used in this study is commercial banks from 2013 to 2017. The data come from commercial bank financial statements. As the benefit of this research the government can use it as a mapping material for distributing loan to commercial banks; the bank management can take it into consideration in making commercial bank lending policies. The results of the research show that profitability can mediate the relationship between third party funds and non-performing loans on loan distribution. Third party funds have a significant positive effect on loan distribution. Non-Performing Loans have a significant negative effect on loan distribution.
Keywords: LOAN DISTRIBUTION, THIRD PARTY FUNDS, NON-PERFORMING LOANS, AND PROFITABILITY
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Stowell, David P., and Evan Meagher. "Investment Banking in 2008 (A): Rise and Fall of the Bear." Kellogg School of Management Cases, January 20, 2017, 1–25. http://dx.doi.org/10.1108/case.kellogg.2016.000160.
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Gary Parr, deputy chairman of Lazard Freres & Co. and Kellogg class of 1980, could not believe his ears. “You can't mean that,” he said, reacting to the lowered bid given by Doug Braunstein, JP Morgan head of investment banking, for Parr's client, legendary investment bank Bear Stearns. Less than eighteen months after trading at an all-time high of $172.61 a share, Bear now had little choice but to accept Morgan's humiliating $2-per-share, Federal Reserve-sanctioned bailout offer. “I'll have to get back to you.” Hanging up the phone, Parr leaned back and gave an exhausted sigh. Rumors had swirled around Bear ever since two of its hedge funds imploded as a result of the subprime housing crisis, but time and again, the scrappy Bear appeared to have weathered the storm. Parr's efforts to find a capital infusion for the bank had resulted in lengthy discussions and marathon due diligence sessions, but one after another, potential investors had backed away, scared off in part by Bear's sizable mortgage holdings at a time when every bank on Wall Street was reducing its positions and taking massive write-downs in the asset class. In the past week, those rumors had reached a fever pitch, with financial analysts openly questioning Bear's ability to continue operations and its clients running for the exits. Now Sunday afternoon, it had already been a long weekend, and it would almost certainly be a long night, as the Fed-backed bailout of Bear would require onerous negotiations before Monday's market open. By morning, the eighty-five-year-old investment bank, which had survived the Great Depression, the savings and loan crisis, and the dot-com implosion, would cease to exist as an independent firm. Pausing briefly before calling CEO Alan Schwartz and the rest of Bear's board, Parr allowed himself a moment of reflection. How had it all happened?An analysis of the fall of Bear Stearns facilitates an understanding of the difficulties affecting the entire investment banking industry: high leverage, overreliance on short-term financing, excessive risk taking on proprietary trading and asset management desks, and myopic senior management all contributed to the massive losses and loss of confidence. The impact on the global economy was of epic proportions.
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Cosgrove, Michael, and Daniel Marsh. "Tight Money And Loose Credit In An Open Economy." Journal of Business & Economics Research (JBER) 5, no. 4 (February 7, 2011). http://dx.doi.org/10.19030/jber.v5i4.2533.
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<p class="MsoNormal" style="text-align: justify; margin: 0in 34.2pt 0pt 0.5in;"><span style="font-size: 10pt;"><span style="font-family: Times New Roman;">The U.S. Federal Reserve has been following a tight money policy, defined by growth in the quantity of money compared to nominal GDP growth since the first quarter of 2004. The Fed has also increased the federal funds rate 17 times in a row by August 8, 2006. Normally, this degree of tightening would be reflected in a slowing of real economic activity by mid-2006, with subsequent lowering of inflation pressures. Yet evidence of a slowdown only materialized in the second quarter of 2006. The housing sector illustrated signs of softening as the inventory numbers started to rise. Are there different factors influencing the effectiveness of monetary policy in this tightening cycle from prior tightening cycles in the Greenspan era? Our thesis is that the linkage between money and credit has become weaker in this cycle. Money appeared to be tight over the relevant time period, while credit was loose. Normally the two move in the same direction – when monetary policy tightens, credit conditions also tighten. But that didn’t occur until very late in the tightening cycle, as credit remained plentiful. Long term interest rates remained low, compared to prior tightening cycles over the cycle. This divergence, in the assessment of the authors, is due to three factors: 1) an increase in monetary base velocity, 2) large net inflows of capital into the U.S., in particular from the Far East – Japan and China, and 3) the expansion of the markets for securitized assets. Rising incomes and high saving rates in the Far East combined with a relaxation of international capital controls resulted in a flood of savings washing up on America’s shores. The securitization of bank-originated assets—originally home mortgages, but now including auto finance loans and credit card debt—has loosened the link between bank reserves and the level of credit in the economy.<span style="mso-spacerun: yes;"> </span>These factors combined to explain why credit is loose in the U.S. while money appeared tight. A U.S. economy with these characteristics explains in part why the connection between domestic money policy and credit market conditions has been weakened.</span></span></p>