Dissertations / Theses on the topic 'Mortgage loans, law and legislation'

In recent years, pre-contractual assessments in consumer credit agreements, including affordability assessments, have made their way up the priority ladder for legislators. International institutions such as the World Bank promote pre-contractual (affordability) assessments as a key regulatory tool in the prevention of “reckless” or “predatory” lending and the promotion of a responsible credit regime. In particular, so it is argued, a responsible lending regime and the protection of consumers is crucial in the mortgage credit market, where overindebtedness can have severe consequences for consumers, namely eviction and the loss of their home, and for the stability of the financial system as a whole. The South African and the European legislator have kept up with the trend of implementing pre-contractual assessments as part of the responsible (mortgage) credit regime with the enactment of the South African National Credit Act and the European Mortgage Credit Directive. The study will duly compare the National Credit Act and the Mortgage Credit Directive in general and the provisions pertaining to pre-contractual assessments in mortgage loans in particular. It seeks to identify potential shortcomings of the statutory provisions in the context of the different historical, economic and social backgrounds of South African and the European Union. Lastly, the study will look at certain concerns that have been raised in relation to precontractual assessments, notably the concern that pre-contractual assessments lead to restrictive lending practices which exacerbate financial exclusion. The study comes to the conclusion that pre-contractual assessments in South Africa and the European Union are an effective tool in preventing over-indebtedness and thus contribute in achieving a responsible credit regime. However, they will not be able to facilitate access to credit at the same time. While access to credit might not be at the centre of importance in the European Union, the situation is different in the South African jurisdiction. In the light of the developments in the mortgage credit market, the constitutional right of access to housing, and the explicit objective of the National Credit Act to facilitate access to credit, it is of significant importance to improve the access to mortgage credit, especially for the low-income and historically disadvantages population in South Africa. In this context, the South African jurisdiction needs an approach that is different from the legal framework in the European Union. Further governmental and/or legislative action will therefore be required in order to facilitate access to mortgage credits in South Africa.

Thirty years after it has achieved its independence, the Republic of Chad, which has faced a long political instability, decided to exploit its oil resources in order to achieve its development objectives. Owing to the difficulties encountered in mobilizing financial resources for the realization of the project, the Government obtained from the International Bank for Reconstruction and Development (IBRD) a loan US$39.5 millions. The loan Agreement, signed between the two parties on 29 March 2001 included a provision referring to the Petroleum Revenue Management Program, described in schedule 5 of the Agreement. This Petroleum Revenue Management Program imposed a number of obligations, related to the actions to be undertaken by the Chadian Government prior to the release of the funds by the Bank, and to the modalities to be followed in the course of the management of the oil revenues. These obligations are also known as governance conditionalities. This theses raised the issues of the legitimacy of the Bank's Governance conditionality, its impact on both the sovereignty of the borrower to freely determine the use of its resources and the effectiveness of the loan.

On January 1, 2010, the Swedish government changed the national rule on taxation of loans between Swedish companies and their shareholders to also comprise loans granted by foreign companies. By changing the rule to also comprise foreign companies, the government aimed to eliminate the newly discovered tax planning which is carried out by an owner establishing a holding company in another Member State from which he lends tax-free means for private consumption. These proceedings result in major tax revenue losses for Sweden since the shareholder’s income was not taxable in Sweden before the change. This change has been subject for criticism by the consultative bodies in the government bill and in the legal debate. The expression of discontent is due to the fact that the changes do not comply with the freedom of establishment. As far as is known, no one has analyzed whether this statement is correct. Therefore, this thesis aims to provide an answer to whether the changes of the rule on taxation of prohibited loans are compatible with the freedom of establishment and consequently whether the Swedish government made a mistake when changing the rule to also comprise foreign companies. Due to the freedom of establishment, it is prohibited for the Member States to take measures which restrict or make nationals refrain from establishing abroad. Intra-state loans are prohibited why they hardly ever occur and the taxation on loans therefore in practice only applies to foreign companies. Legislation in a Member State which only applies to foreign persons constitutes prohibited discrimination. Further, the high tax burden hinders nationals from taking advantage of another Member State’s more favourable legislation and makes the nationals refrain from establishing in other Member States. It is therefore considered that the rule is restrictive to the freedom of establishment. However, such a restrictive rule as in this case is justified by the aim of preventing tax avoidance taken together with the balanced allocation of taxing power between the Member States. Thus, the government makes Sweden breach EU law since the rule is not proportionate despite the justifications. The rule is too general designed since it is restrictive to all foreign undertakings and not just the holding companies with which the tax planning are performed. Further, there are other less restrictive solutions to the problem which have the same effect as the rule in question.

La réalisation du marché intérieur européen par une meilleure intégration des marchés financiers est aujourd’hui devenue une réalité. L'objectif est toutefois loin d'être atteint en matière de crédit hypothécaire, nonobstant de nombreuses initiatives européennes. Compte tenu de ces difficultés et du postulat selon lequel il serait impossible d'harmoniser le droit des suretés immobilières en raison de leur ancrage culturel et national, une proposition alternative consistant dans la création d'une sûreté immobilière commune (euro-hypothèque), venant se superposer aux systèmes nationaux, a été formulée depuis un certain nombre d'années. La recherche analyse dans un premier temps la réalité du postulat précité à la lumière du droit comparé et conclut qu'en réalité, les différents systèmes trouvent non seulement leur origine dans un modèle identique, fondé sur le caractère accessoire de la sûreté, mais ont en outre connu une évolution similaire au cours de ces dernières années. Il apparaît que ce modèle constitue la meilleure base pour toute harmonisation européenne. Après avoir examiné l'interaction avec le droit international privé, sous l'angle de la protection du consommateur, et le droit européen, sous l'angle de la question de la compétence communautaire et du principe de subsidiarité, des pistes sont proposés pour opérer un rapprochement des législations nationales relatives au crédit hypothécaire. La proposition consiste à intégrer dans un seul instrument juridique contraignant (une directive européenne) les différentes propositions permettant d'opérer un rapprochement des législations nationales à trois niveaux :celui de la sûreté immobilière et de la publicité foncier, celui du contrat de prêt et enfin, celui relatif à la procédure de réalisation de l'immeuble.
Doctorat en droit
info:eu-repo/semantics/nonPublished

In Peru, there are legal figures that, despite ofbeing abolished, continue having real effects. Such is the case of the "open mortgage”, which survives in our legal system.In this article, in regard to a recent judicial decision by the Peruvian Supreme Court, the author explains the figures of the “open mortgage” and the “ordinary mortgage”, showing their differences and warning of the inadequacy of equating their jurisprudential treatment.
En el Perú, existen figuras legales que, pese a estar derogadas, continúan teniendo efectos en la realidad. Tal es el caso de la “hipoteca sábana”, la cual pervive en nuestro sistema legal.En este artículo, a propósito de una reciente decisión judicial de la Corte Suprema del Perú, el autor explica las figuras de la “hipoteca ordinaria” y de la “hipoteca sábana”, mostrando sus diferencias, y advierte sobre lo inadecuado de equiparar su tratamiento jurisprudencial.

Thesis (MAcc)--Stellenbosch University, 2014.
ENGLISH ABSTRACT: The requirements of section 11(a) and section 24J(2) were considered in this research assignment, from both a money-lender’s and an investment holding company’s perspective, to determine whether interest, losses on irrecoverable loans and raising fees were tax deductible. It was determined, that if the trade requirement is satisfied by the money-lender, then the above-mentioned expenses are fully tax deductible. However, if the trade requirement is satisfied by the investment holding company then only the interest is fully tax deductible. It is further submitted however in this research assignment that it cannot be said that the money-lender alternative is better than the investment holding company alternative – both alternatives are of equal value in the current tax system. What is important though is that taxpayers who will fit the mould of an investment holding company will now be able to use the principles set out in this research assignment to prove that it is in fact carrying on a trade for tax purposes, something that taxpayers are generally reluctant to pursue. If this is pursued, taxpayers may have the added tax benefit of tax deductible interest expenditure (in full) in cases where this was not previously the norm (and an investment holding company will not have to satisfy any of the guidelines of the “money-lender test” when it seeks to deduct its interest expense in full). However, if an investment holding company seeks to deduct losses on irrecoverable loans and raising fees for tax purposes, it will not have to satisfy all the guidelines of the “money-lender test”, but it will have to satisfy one guideline, that being the “system or plan” and “frequent turnover of capital” guideline. It will be very difficult for an investment holding company to prove this on the facts of the case – it will arguably take a special set of facts to accomplish this mean feat.
AFRIKAANSE OPSOMMING: Die vereistes van artikel 11(a) en artikel 24J (2) is in hierdie navorsingsopdrag vanuit ʼn geldskieter en 'n beleggingshouermaatskappy se perspektief oorweeg, om die belastingaftrekbaarheid van rente, verliese op oninvorderbare lenings en diensfooie te bepaal. Daar is vasgestel dat indien die bedryfsvereiste deur ʼn geldskieter nagekom word, bogenoemde uitgawes ten volle vir belastingdoeleindes aftrekbaar is. Indien die bedryfsvereiste egter nagekom word deur ʼn beleggingshouermaatskappy sal slegs die rente ten volle aftrekbaar wees vir belastingdoeleindes. Verder word dit in die navorsingsopdrag aan die hand gedoen dat daar nie gesê kan word dat die geldskieter-alternatief beter is as die beleggingshouermaatskappy-alternatief nie – beide alternatiewe is van gelyke waarde in die huidige belastingbestel. Die onderskeid is egter belangrik, aangesien die belastingbetalers wat aan die vereistes van ʼn beleggingshouermaatskappy voldoen, nou in staat sal wees om die beginsels wat in hierdie navorsingsopdrag uiteengesit word, te gebruik om te bewys dat die beleggingshouermaatskappy in werklikheid ʼn bedryf vir belastingdoeleindes beoefen. Belastingbetalers is oor die algemeen huiwerig om dit te poog. Indien wel, kan belastingbetalers ʼn belastingaftrekking ten opsigte van rente uitgawes kry, wat voorheen nie die norm was nie (ʼn beleggingshouermaatskappy sal nie enige van die “geldskietertoets” riglyne hoef na te kom wanneer dit poog om ʼn belastingafrekking vir die rente uitgawe te kry nie). Indien ʼn beleggingshouermaatskappy verliese op oninvorderbare lenings en diensfooie vir belastingdoeleindes wil aftrek, sal die belastingbetaler nie al die “geldskietertoets” riglyne hoef na te kom nie, maar sal egter moet voldoen aan die “stelsel of plan” en “gereelde omset van kapitaal” riglyne. Dit sal baie moeilik wees vir 'n beleggingshouermaatskappy om dit te bewys op grond van die feite van die saak – dit sal waarskynlik ʼn spesiale stel feite verg om dit te bereik.

Thesis (MBA)--Stellenbosch University, 2002.
Some digitised pages may appear illegible due to the condition of the original hard copy
ENGLISH ABSTRACT: Enormous growth has been experienced in the South African securitisation environment due to the lack of Government bond issues. There is little doubt that securitisation is still in its early stages in South Africa, but it is here to stay. Asset securitisation can be described as the process of pooling and repackaging non tradable assets secured by relatively uniform, small value assets into liquid securities. The original form of asset securitisation is mortgage backed securities. The success achieved in the securitisation of mortgage loans globally resulted in the securitisation of other types of asset backed securities. Auto loans, credit card receivables and synthetic securitisation have attracted substantial interest in South Africa in the recent past. Synthetic securitisation is becoming an increasingly important topic following the focus of financial institutions to manage regulatory and risk capital. Each securitisation transaction can be structured in such a way to demonstrate specific cash flow characteristics, risk profiles or average life parameters. Securitisation structures include several entities, with each playing a distinct role. The originator is the entity which creates the underlying asset pool. The asset pool is then sold to a SPV, which is a bankruptcy remote vehicle through which the securitisation transaction is facilitated. The SPV will sell securities backed by the asset pool to investors. The proceeds of the issue are used to finance the purchase of the asset pool from the originator. The SPV appoints a servicer that administers the asset pool on behalf of the issuer in return for a fee. The South African legal and tax environment is currently undergoing a transformation in order to accommodate the growing interest in securitisation. Precedents regarding the taxation of securitisation structures are still lacking in South Africa. Both legal and taxation issues around securitisation transactions are likely to change over the coming years. The South African securitisation market still needs to be improved significantly ahead of being classified as world class. The lack of familiarity among investors involved in securitisation is keeping the market from growing to its full potential. Investor education and the documentation of deal information are crucial. The growth of securitisation issues is necessary to increase volumes and in turn enhance liquidity. Knowledge, volumes and regulations regarding securitisation are certainly lacking in South Africa, and though this may slow growth, it will most definitely not prevent the business from rapidly expanding.
AFRIKAANSE OPSOMMING: Die tekort aan staatseffekte in Suid Afrika is een van die redes wat gelei het tot die groei van die Suid Afrikaanse bate effekte mark. Alhoewel bate effektering nog 'n nuwe konsep in Suid Afrika is, het die finansiele markte in Suid Afrika effektering aanvaar en groot belangstelling word getoon deur beide finansiele instellings en beleggers. Bate effektering kan beskryf word as die proses waar onverhandelbare bates saam gegroepeer word en omskep word in likiede sekuriteite wat in die ope mark verhandel kan word. Bate effektering het sy oorsprong in die Verenigde State van Amerika gehad, waar verbandlenings ge-effekteer is. Groot suksesse is behaal en ander vorme van bates is vinnig ge-effekteer en aan die mark gebied. In Suid Afrika is verskillende vorme van effektering al aangetref, die nuutste en mees opwindenste is egter sintetiese effektering. Effektering sluit verskillende entiteite in, en elkeen speel 'n baie spesifieke rol. Kortliks is die proses soos hierna beskryf. Die bates word deur die oorspronklike eienaar aan 'n spesiale doel voertuig verkoop. Die spesiale doel voertuig is heeltemal onafhanklik van ander eenhede in die effekteringsstruktuur en finansiele probleme in die struktuur het geen effek op die kredietwaardigheid van die spesiale doel voertuig nie. Die spesiale doel voetuig verkoop effekte aan beleggers, en die inkomste ontvang van beleggers befonds die aankoop van die poel bates van die oorspronklike eienaar. Die spesiale doel voertuig word gediens en onderhou deur 'n diens verskaffer in ruil vir 'n kontraktuele vergoeding. Die Suid Akrikaanse finansiële markte is tans besig om 'n transformasie proses te ondergaan om effektering te akkomodeer, die fokus is veral op wetlike en belasting aspekte. Alhoewel baie veranderinge al plaasgevind het, sal daar nog baie gedoen moet word voor die Suid Afrikaanse mark as wereld-klas geklassifiseer kan word. Ongelukkig is beleggers nog onbekend met effektering en daarom weerhou dit die mark van vinnige ontwikkeling. Kortom, kennis, volumes en duideliker regulasies wat betrekking het op effektering is definitief nodig in Suid Afrika, en alhoewel dit groei verstadig, sal dit definitief nie die nuwe finansiële instrument keer om tot een van Suid Afrika se vooraanstaande finansiële instrumente te ontwikkel nie.

This project focused on developing the ideal Asset / Liability Model for credit unions with assets between one hundred million and five hundred million dollars. Ideally the model should be closely aligned with that of a successful credit union at the high end of this range. SELCO Community Credit Union of Eugene Oregon was used in creating the model.

Submitted in fulfilment of the requirements of the Masters of Technology degree in Cost and Management Accounting, Durban University of Technology, Durban, South Africa, 2015.
The National Credit Act No. 34 of 2005 (NCA) was introduced by the South African government mainly to bring about accessibility to credit markets, protect consumers from malpractices and market abuses by credit providers and reduce consumer over indebtedness. As a result, credit providers are compelled to apply stringent rules and regulations when assessing a credit consumer’s affordability prior to granting home loans. This study aims at investigating the impact of the NCA on the affordability of home loans within the Pinetown metropolitan area. The literature review presents an overall view of affordability of home loans in developed and emerging countries and also provides an in-depth explanation of factors that affect affordability of home loans in South Africa. The predominant factors, amongst others that hinder the housing market, are: an increase in house prices; elevated interest rates and household debt which include inflation, transportation cost and low wage increase. A mixed methods approach was utilized for the research, analyzing both quantitative and qualitative data. Respondents (home loan borrowers) completed a questionnaire by indicating if assessments were conducted in terms of their affordability prior to the approval of their home loan and their view on the impact that the NCA had on their home loan. The data suggested strongly that credit providers had conducted proper credit and affordability assessments prior to granting home loans and that most home loan borrowers’ level of debt had remained stable since acquiring their home loans as they continue to meet their debts. An overall analysis revealed that the application of the NCA had a positive impact on the affordability of home loans in the research area and that compliance with NCA, when granting credit, resulted in the reduction of reckless lending, a decline in the level of consumer indebtedness and a reduction in payment default.

LL.M. (Corporate Law)
Jurisdictions employ several legal methods to regulate loans made by shareholders to companies. This dissertation explores the legal mechanisms employed by Germany, the United States, the United Kingdom as well as Australia that align to the recommendations of the United Nations Commission on International Trade Law (UNCITRAL) in respect of shareholder loans and seeks to answer the question whether South Africa should adopt similar mechanisms. German law complies fully with the UNCITRAL recommendations by providing for the automatic subordination of shareholder claims in respect of loans as well as the avoidance of repayments and security interests made and registered within a certain period of the commencement of insolvency proceedings. German law also contains avoidance provisions specific to transactions between the debtor and a shareholder that cause detriment to a third-party creditor and general avoidance provisions which provide for certain presumptions to apply in the case of transactions concluded between the company and a shareholder. In the United States the doctrine of equitable subordination is legislated and applies in the event that the debtor is thinly-capitalised and mismanaged and legislative provision is made for the avoidance of preference transactions concluded between a creditor and a debtor, which provide for a longer avoidance period in the case of a transaction concluded with a shareholder. In addition to full legislative compliance with the UNCITRAL recommendation relating to shareholder transactions, the wide powers given to the courts to uphold bankruptcy legislation is codified and led to the development of the doctrine of recharacterization, which entails shareholder loans being treated as equity contributions in certain circumstances. The United Kingdom does not contain legal provisions relating to the subordination of shareholder claims and thus does not comply fully with the UNCITRAL recommendations relating to shareholder loans. However, it does provide specifically for a longer avoidance period in respect of preference transactions involving shareholders and certain presumptions to be applied in the case of transactions concluded between the debtor company and a shareholder.

This dissertation considers the failure of the Japanese government from 1991 through late-1998 to take measures to bring swiftly under control the threat to the nation's finance system posed by nonperforming loans that arose with the collapse of the late-1980s land-price bubble. While some works plausibly argue that this record of delay, and a larger failure of the Japanese state to adjust its general economic policy strategy, can be attributed largely to a progressive fracturing of a 1950s consensus on basic economic policy objectives between relatively internationally competitive firms and firms more dependent on state protection of their business opportunities, this insight has led few scholars to enquire into the role played by advocates of the policy interests of Japan's most competitive large firms in producing the widely lamented policy of delay on nonperforming loans. Counter to the literature's preponderant emphasis on political pressure from protection-dependent firms as impediment to swift state adjustment to nonperforming loans and other economic policy challenges of the late-20th century Japanese state, this dissertation finds that state officials and expert commentators who in debates on nonperforming loans and closely related policy issues strongly advocated dismantling protections on which large numbers of firms depended and in their stead adopting policies more favorable to the firms best able to weather the harsh economic conditions of the 1990s, displayed willingness to tolerate further delay comparable to (and sometimes greater than) that shown by state officials and expert commentators who advocated greater solicitude for the protection-dependent. This finding is based chiefly on a reading of official Ministry of Finance policy statements, transcripts of hearings of relevant Japanese House of Representatives committees, public opinion polls, reporting and commentary published in two national-circulation and two local Japanese newspapers, and a variety of books and longer articles published in the mass-audience Japanese business press. This finding, I argue, suggests a need for more sustained critical analysis of the role of leading business interests in Japan's political processes, which in turn argues for a closer engagement than is now commonly attempted with the work of Karl Marx and Chalmers Johnson, and for following up some preliminary suggestions in the existing literature of an emergent economic policy dimension of Diet party competition.
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Text in Afrikaans
In hierdie verhandeling ontleed ek die oproeping van ʼn verband op ʼn onroerende saak in die Suid-Afrikaanse reg. Indien ʼn verbandskuldenaar wanpresteer, kan die verbandskuldeiser sy beperkte saaklike reg afdwing deur die verband op te roep ten einde die uitstaande skuld te delg. Om dit te bereik, word die sekerheidsobjek op ʼn eksekusieverkoping te gelde gemaak, nadat die regte prosedure gevolg is. Die oproepingsproses is in die laaste dekade ingrypend verander, grotendeels as gevolg van artikel 26 van die Grondwet, 1996, en artikels 129 en 130 van die National Credit Act 34 van 2005. Die volgende stadiums in die oproepingsproses word onderskei: die voorverhoorprosedure; jurisdiksiebepaling; die hofprosedure; beslaglegging en die eksekusieverkoping. Wetgewing en regspraak het onlangs ingrypende veranderings ten aansien van die voorverhoorprosedure en die hofprosedure teweeggebring. Alhoewel die oproepingsproses tans bevredigend deur wetgewing en in die regspraak gereël word, is daar nog verontrustende aspekte van eksekusieverkopings wat die wetgewer se aandag verdien.
In this dissertation I analyse the calling up of a mortgage bond over immovable property under South-African law. If a mortgagor defaults, the mortgagee can enforce his limited real right by calling up the mortgage bond to satisfy the outstanding debt. To accomplish this, the secured property will be sold at an execution sale, after the correct procedure has been followed. Over the past decade, foreclosure proceedings have undergone significant changes, largely owing to section 26 of the Constitution, 1996, and sections 129 and 130 of the National Credit Act 34 of 2005. The following stages in the foreclosure process are identified: pre-trial debt enforcement procedure; determination of jurisdiction; court procedure; attachment and execution sale. Both the pre-trial debt enforcement procedure and the court procedure have recently been substantially amended by legislation and case law. Although legislation and case law currently regulate the foreclosure process satisfactorily, some disturbing aspects of execution sales remain and these deserve the legislator’s attention.
Private Law
LL.M.

Money lenders frequently use sale and lease back agreements as an alternative to other more conventional forms of security. These agreements are popular because they are simple and inexpensive to put in place. Unfortunately, South African courts give legal effect to the true intention of contracting parties. Sale and lease back agreements are often held to be simulated contracts and as such they are enforced as disguised pledges. One of the few alternative security options available to money lenders, is a notarial bond registered in terms of the Security By Means of Movable Property Act 57 of 1993. This act has been criticised for creating an ineffective form of security that is costly and cumbersome to put in place. It is suggested that the current security options available to money lenders are supplemented with the creation of a more user friendly public register for the registration of security interests.
Private Law
LL.M.

During the 2000s U.S. mortgage borrowing experienced its most volatile cycle in the postwar record, with mortgage debt more than doubling between 2000 and 2008 before declining by more than 10% over the next five years. The consequences of the boom and bust for both borrowers and the wider macroeconomy were significant, with millions losing their homes to foreclosure or their jobs to the ensuing deleveraging-driven recession. Recent research has focused on variations in credit supply as a primary determinant of both the boom in mortgage borrowing and subsequent collapse, as well as the concurrent rise and fall of residential real estate prices and employment. In the wake of the Great Recession many have called for countercyclical policy intervention in the mortgage market, both to restrain over-leveraging during booms and to provide additional access to refinancing credit during busts. Moreover some analysis has placed the blame for the volatile U.S. credit cycle on the policies of Fannie Mae and Freddie Mac, the two largest government-sponsored enterprises, which have been labeled as excessively risky, actively destabilizing, and regressive. Nevertheless, though many have called for their reform these two agencies appear to be a continuing feature of the U.S. housing finance system and are currently well-positioned to implement countercyclical credit supply policies. In my dissertation I propose a novel countercyclical policy intervention by the government-sponsored enterprises and analyze its impact on mortgage borrowers.

The maturity transformation of deposits is a primary driver of economic growth, as loans enable borrowers to spend funds, thereby growing the economy. However, if borrowers cannot repay their loans, the asset quality of banks deteriorate, resulting in non-performing loans or, worse, an economic crisis. An understanding of how macroeconomic and microeconomic determinants impact bank asset quality in South Africa can contribute to knowledge of the bank asset quality phenomenon in the African context. Due to the 2008/2009 global financial crisis, the introduction of new legislation and the value of gold exports, the South African economy presents an opportunity to make an original contribution to the knowledge of determinants that influence bank asset quality. In addition to studying bank asset quality determinants that are contested in research, this study also aims to determine whether a superior returns determinant of non-performing loans exists when comparing a bank’s profitability determinants, namely return on assets, return on equity and interest income on loans. This study applied panel data regression analysis, making use of a balanced panel approach, to study the determinants of bank asset quality. This approach recontextualises the existing bank asset quality theory for the South African financial sector. The results indicate that South Africa is not resilient against the impact of global financial crises trickling through international trade linkages and that regulatory changes do not instantly improve bank asset quality, and may even reduce the short-term asset quality. Moreover, bank asset quality in South Africa is sensitive to the total value of gold exports. It is evident from the profitability measures that the interest income on loans is the most suitable profitability measure of bank asset quality. This study provides an original contribution to bank asset quality determinants and recommends that regulators should pre-emptively determine the impact of new legislation on bank asset quality. Furthermore, interest income on loans as a profitability measure provides the most accurate results. Lastly, a single-country bank asset quality analysis is important, especially for economies that have commodity exports that significantly weigh in on the bank asset mix.
Die termyntransformasie rakende deposito's is die primêre dryfkrag vir groei in die ekonomie: Lenings maak dit vir leners moontlik om fondse te bestee, wat die ekonomie laat groei. Indien hierdie leners hul lenings egter nie kan terugbetaal nie, gaan die gehalte van bankbates agteruit, wat tot wanpresterende lenings of, nog erger, tot 'n ekonomiese krisis kan lei. As begryp kan word hoe makro-ekonomiese en mikro-ekonomiese bepalende faktore op die gehalte van bankbates in Suid-Afrika inwerk, kan dit bydra tot kennis van die verskynsel van bankbategehalte in die Afrika-konteks. In die lig van die 2008/2009 wêreldwye finansiële krisis, die uitvaardiging van nuwe wetgewing en die waarde van gouduitvoere bied die Suid-Afrikaanse ekonomie ’n geleentheid om ’n oorspronklike bydrae te lewer tot kennis van die bepalende faktore wat bankbategehalte beïnvloed. Benewens die bestudering van die bepalende faktore van die gehalte van bankbates wat in navorsing redelik omstrede is, het hierdie studie ten doel om, wanneer 'n bank se winsgewendheidsbepalers, naamlik opbrengs op bates, opbrengs op ekwiteit (eiekapitaal) en rente-inkomste op lenings, met mekaar vergelyk word, vas te stel of daar ’n superieure opbrengsbepaler van wanpresterende lenings bestaan. Vir hierdie studie is ’n regressieontleding van paneeldata uitgevoer, en daar is van ’n gebalanseerde paneelbenadering gebruik gemaak om die bepalende faktore van bankbategehalte te bestudeer. Hierdie benadering herkontekstualiseer die bestaande bankbategehalteteorie vir die Suid-Afrikaanse finansiële sektor. Die resultate van die studie dui daarop dat Suid-Afrika nie veerkragtig is om die uitwerking van wêreldwye finansiële krisisse teen te werk wat met internasionale handelskakelings deursyfer nie en dat reguleringsveranderinge nie dadelik die bankbategehalte verbeter nie; dit kan inteendeel die korttermynbategehalte verlaag. Bowendien is die bankbategehalte in Suid-Afrika gevoelig vir die totale waarde van gouduitvoere. Dit blyk uit die winsgewendheidsmaatstawwe dat die rente-inkomste op lenings die mees geskikte winsgewendheidsmaatstaf van bankbategehalte is. Hierdie studie lewer ’n oorspronklike bydrae tot die bepalers van bankbategehalte en beveel aan dat reguleerders vooruit reeds die uitwerking van nuwe wetgewing op bankbategehalte moet bepaal. Daarby voorsien rente-inkomste op lenings as winsgewendheidsmaatstaf die akkuraatste resultate. Laastens is ’n ontleding van ’n enkele land se bankbategehalte van belang, in die besonder vir ekonomieë met kommoditeitsuitvoere wat beduidend tot die samestelling van bankbates bydra.
Kadimo ya nako ye kopana ya ditipositi ke mokgwa wo bohlokwa wa kgolo ya ekonomi, ka ge dikadimo di dumelela baadimi go šomiša matlotlo, go realo e le go godiša ekonomi. Efela, ge baadimi ba sa kgone go lefela dikadimo tša bona, boleng bja thoto ya dipanka bo a phuhlama, go feleletša go e ba le dikadimo tše di sa šomego gabotse goba, go feta fao, phuhlamo ya ekonomi. Kwešišo ya ka fao ditaetšo tša makroekonomi le maekroekonomi di huetšago boleng bja thoto ya panka ka Afrika Borwa e ka ba le seabe go tsebo ya taba ya boleng bja thoto ya panka go ya ka seemo sa Afrika. Ka lebaka la mathata a ditšhelete a lefase a 2008/2009, tsebišo ya molao wo moswa le boleng bja dithomelontle tša gauta, ekonomi ya Afrika Borwa e fa sebaka seabe sa mathomo tsebong ya ditaetšo tšeo di huetšago boleng bja thoto ya panka. Go tlaleletša nyakišišong ya ditaetšo tša boleng bja thoto ya panka tšeo di ganetšwago nyakišišong, maikemišetšo a nyakišišo ye gape ke go laetša ge eba taetšo ya letseno le legolo la dikadimo tše di sa šomego gabotse di gona ge go bapetšwa ditaetšo tša poelo ya panka, e lego letseno la dithoto, letseno la dišere le letseno la dikadimo. Nyakišišo ye e šomišitše tshekatsheko ya poelomorago ya datha ya phanele, ya go šomiša mokgwa wa phanele wo o lekaneditšwego, go nyakišiša ditaetšo tša boleng bja thoto ya panka. Mokgwa wa go tšwetšapele gape teori ya boleng bja thoto ya panka ya lekala la Afrika Borwa la ditšhelete. Dipoelo di laetša gore Afrika Borwa ga e fokole kgahlanong le khuetšo ya mathata a ditšhelete a lefase ao a rothelago ka dikamanong tša kgwebišano ya boditšhabatšhaba le gore diphetogo tša taolo ga di kaonafatše boleng bja thoto ya panka ka lebelo, gomme di ka fokotša le boleng bja thoto bja paka ye kopana. Go feta fao, boleng bja thoto ya panka ka Afrika Borwa bo ela hloko boleng bja palomoka bja dithomelontle tša gauta. Go a bonagala go tšwa go dikgato tša tiro ya poelo gore letseno la tswala godimo ga dikadimo ke kgato ya poelo ye maleba gagolo ya boleng bja thoto ya panka. Nyakišišo ye e fa seabe sa mathomo ditaetšo tša boleng bja thoto ya panka gomme e šišinya gore balaodi ba swanela go laetša e sa le ka pela khuetšo ya molao wo moswa ka ga boleng bja thoto ya panka. Go feta fao, letseno la tswala godimo ga dikadimo bjalo ka kelo ya tiro ya poelo le go fa dipoelo tše di lebanego gabotse. Sa mafelelo, tshekatsheko ya boleng bja thoto ya panka ya naga e tee, kudu diekonomi tšeo di nago le dithomelontle tša ditšweletšwa tšeo gagolo di dumelelago motswako wa thoto ya panka.
Business Management
Ph. D. (Management Studies)