Academic literature on the topic 'Portfolio management of mortgage loans'

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Journal articles on the topic "Portfolio management of mortgage loans"

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Banai, Ádám, Edina Berlinger, and Barbara Dömötör. "Adjustable-rate mortgages in the era of global reflation: How to model additional default risk?" PLOS ONE 17, no. 3 (2022): e0263599. http://dx.doi.org/10.1371/journal.pone.0263599.

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We investigate the problem of interest rate risk transforming into default risk of adjustable-rate mortgage loans in the EU. Bank regulation is strikingly not neutral in this aspect, it explicitly favors short-duration adjustable-rate loans over long-duration fixed-rate loans in the framework of the gap management. This asymmetry in the regulation creates perverse incentives both for banks and households, which can lead to aggressive risk-taking, over-indebtedness of unhedged households, high procyclicality of mortgage markets, and increased systemic risks. We present a stress test model to qu
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Jalal, El Fadil, and Hessou Helyoth. "The Influence of Loans Weights on the Profitability of Credit Unions." International Journal of Management Sciences and Business Research 11, no. 11 (2022): 14–22. https://doi.org/10.5281/zenodo.7394240.

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<em>Our main research objective is to study the influence of different decisions&nbsp;inherent to the weights given to some types of loans on the profitability of credit unions. The choice of weight given to mortgages and other types of loans can have a determining impact on a loan portfolio&rsquo;s return and on the risk associated with it. This justifies our study, since a decrease in credit unions profitability would cause a drop in their capital and lead their managers to adjust it, sometimes not in an optimal way. Only few studies having been carried out on these financial institutions an
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Wong, Michael C. S., and Ho Ming Ho. "A Framework for Integrating Extreme Weather Risk, Probability of Default, and Loss Given Default for Residential Mortgage Loans." Sustainability 15, no. 15 (2023): 11808. http://dx.doi.org/10.3390/su151511808.

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This paper considers a hypothetical case in which a bank wants to build a routine climate stress test exercise on residential mortgage loans. The bank has regularly updated the probability of default (PD) and loss given default (LGD) on each residential mortgage loan under the internal-rating-based (IRB) approach of Basel II/III. Additionally, the bank estimates the stressed PD and stressed LGD associated with a predetermined extreme weather event. Using simulation techniques, this paper shows that the loss of the bank’s residential mortgage portfolio can reach a median of around 36% of the po
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Parihar, Mr Jayesh, and Prof Megha Bhogawar. "Review Paper- Reverse Mortgage in India." INTERANTIONAL JOURNAL OF SCIENTIFIC RESEARCH IN ENGINEERING AND MANAGEMENT 08, no. 01 (2024): 1–10. http://dx.doi.org/10.55041/ijsrem27949.

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In today's fast paced business environment, banks operating in retail space require a change resilient vertically integrated value chain for delivering the most competitive product and services. This need is redefining the boundaries of a bank's value chain creating greater thrust for the value add, right from the lowest end of the delivery channels. In the loans and advances product space, this requires an integration strategy right from sourcing, evaluating and servicing to collections, recoveries and written-off management. This project elaborate the delivery capability of bank, operating l
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De Luna López, Angela C., Prosper Lamothe-López, Walter L. De Luna Butz, and Prosper Lamothe-Fernández. "A Real Option Approach to the Valuation of the Default Risk of Residential Mortgages." International Journal of Financial Studies 13, no. 1 (2025): 31. https://doi.org/10.3390/ijfs13010031.

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A significant share of many commercial banks’ portfolios consists of residential mortgage loans provided to individuals and families. This paper examines the default and rational prepayment risk of single-borrower (residential) mortgage loans based on an option pricing model that captures the skewness and kurtosis of the house prices returns’ distribution via the shifted lognormal distribution. Equilibrium option-adjusted credit spreads are obtained from the implementation of the model under plausible values of the relevant parameters. The methodology involves numerical experiments, using a sh
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Peng, Yanling, Yuansheng Jiang, and Yu Hong. "Heterogeneous Preferences for Selecting Attributes of Farmland Management Right Mortgages in Western China: A Demand Perspective." Land 11, no. 8 (2022): 1157. http://dx.doi.org/10.3390/land11081157.

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Farmland management right mortgages (FMRMs) are emerging land financing products in China. However, the development of FMRMs and farmers’ demands for them are poorly understood. This study applied an in-the-field choice experiment of 1815 farmers, conducted in China, to examine farmers’ demands for FMRMs and explore their heterogeneous preferences regarding the attributes of FMRMs. Results from the random parameters logit model suggest that farmers are interest-rate sensitive and willing to pay for FMRM products that use farmland management rights as the sole collateral, enabling amortization,
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Lapishko, Mariіa, and Anna Vynnyk. "PROBLEMS OF THE LENDING MARKET OF UKRAINE UNDER THE CONDITIONS OF MARITAL STATE." Problems and prospects of economics and management, no. 3(31) (2022): 180–89. http://dx.doi.org/10.25140/2411-5215-2022-3(31)-180-189.

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Before the start of russia's large-scale invasion the demand for loans in Ukraine was caused by: the improvement of the macroeconomic situation in the country, a decrease in interest rates and gov-ernment programs to support entrepreneurship and mortgage lending. The insolvency of debtors dur-ing the war led to an increase in the volume of overdue loans and, as a result, a deterioration in the quality of banks' loan portfolios.The article systematizes the problems of the lending market that arose due to the military ac-tions in Ukraine, determines the priority of the introduction of anti-crisi
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Gunay, Suleyman Gokhan, and Kasirga Yildirak. "Choosing the Appropriate Amount of Mortgage Loan: Risk Based Decision Making." International Journal of Economics and Finance 8, no. 11 (2016): 12. http://dx.doi.org/10.5539/ijef.v8n11p12.

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&lt;p&gt;The main purpose of this paper is to show the way to conduct a risk based mortgage loan choice process for low and middle income households in Turkey. There are several studies that analyze the impact of buying a house decision on an investor’s portfolio, which consists of house, stocks and bonds. In this study, house is treated as a single investment. The probability of defaults for the cash flows based on mortgage payments, rents, down payment and depreciation are calculated in order to find the amount of mortgage loan for a given rent and maturity. Net present values of cash flows
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Schneberger, Scott L. "Stater NV: E-Servicing Strategies." Journal of Information Technology 19, no. 2 (2004): 108–16. http://dx.doi.org/10.1057/palgrave.jit.2000014.

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After 2 years of on-line experiments, Tom van Vianen, CEO, felt certain it was time to fully implement STATER NV's new ‘e-servicing’ concept with a cohesive strategy. Established in 1997 in The Netherlands and headquartered in Amersfoort, STATER had 27 business clients and serviced over 80 different mortgage portfolios of more than 450,000 mainly residential loans in the Netherlands, Belgium, and Germany. Their mortgage service operations and information systems were considered state-of-the-art in 2002, but they were moving business on-line while simultaneously increasing the types of services
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Shulga, Alexey E., and Sergey Е. Barykin. "EVOLUTION OF MORTGAGE BORROWER CREDIT RISK ASSESSMENT: FROM TRADITIONAL METHODS TO DIGITAL TWIN." EKONOMIKA I UPRAVLENIE: PROBLEMY, RESHENIYA 3/1, no. 156 (2025): 126–34. https://doi.org/10.36871/ek.up.p.r.2025.03.01.014.

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In the context of rapid development of the banking sector and changes in the technological sphere of the financial sector, the relevance of the subject of research is determined by the need to improve the existing approaches to credit risk management using modern technologies. The article analyzes the main stages of evolution of the issue of credit risk and key events in the field of risk management that have influenced the development of its theory, such as the 1976 Jamaican Monetary Conference and the introduction of the Basel Accords standards. It identifies the problem faced by credit inst
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Dissertations / Theses on the topic "Portfolio management of mortgage loans"

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Гербич, Л. А. "Інфраструктура управління портфелем іпотечних кредитів банку". Thesis, Українська академія банківської справи Національного банку України, 2012. http://essuir.sumdu.edu.ua/handle/123456789/63913.

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Klupšaitė, Almantė. "Būsto paskolų portfelis Baltijos šalyse: portfelį veikiančių veiksnių tyrimas." Master's thesis, Lithuanian Academic Libraries Network (LABT), 2014. http://vddb.library.lt/obj/LT-eLABa-0001:E.02~2010~D_20140625_185153-69410.

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Per paskutinį dešimtmetį Baltijos šalys išgyveno pilną ekonomikos ciklą - lėtą atsigavimą, spartų augimą ir staigų kritimą. Itin sparčiai vystėsi būsto paskolų ir nekilnojamojo turto rinka, todėl jau 2007 - 2008 metais buvo svarstoma dėl nekilnojamojo turto rinkos perkaitimo, nors dauguma gyventojų vis dar džiaugėsi galimybe be didesnių kliūčių gauti kreditą brangstančio būsto įsigijimui. Būgštavimai dėl ekonomikos ir jos atskirų sektorių perkaitimo buvo pagrįsti – Baltijos šalių ekonomikos 2009 m. smuko daugiausiai tarp visų ES valstybių. Taigi, įvykus nekilnojamojo turto sektoriaus ir būsto
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Wang, Yupeng S. M. Massachusetts Institute of Technology. "FinTech mortgage lenders solving or exploiting a friction? evidence on risk layering and prepayment risk of conforming loans." Thesis, Massachusetts Institute of Technology, 2020. https://hdl.handle.net/1721.1/126966.

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Thesis: S.M. in Management Research, Massachusetts Institute of Technology, Sloan School of Management, May, 2020<br>Cataloged from the official PDF of thesis.<br>Includes bibliographical references (pages 55-56).<br>Fintech mortgage lenders have become an increasingly important source of mortgage credit in the US. Using loan-level data on mortgages sold to Fannie Mae and Freddie Mac (GSEs), I find that compared to traditional lenders, Fintech lenders are more likely to address credit demand from low credit score borrowers. However, they may be able to exploit two frictions in the GSEs' pricin
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Jiménez, Montesinos Jorge Alberto. "A credit risk management model for a portfolio of low-income consumer loans in Mexico." Thesis, Massachusetts Institute of Technology, 2014. http://hdl.handle.net/1721.1/90749.

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Thesis: S.M. in Management Studies, Massachusetts Institute of Technology, Sloan School of Management, 2014.<br>Cataloged from PDF version of thesis.<br>Includes bibliographical references (pages 144-147).<br>Low-income consumer lending (LICL) in Latin America has experienced a boom in recent years. This has attracted the interest of a large number of financial players eager to capture a portion in this still under-banked segment. Despite this huge market potential, credit risk management in this segment is still mainly based on the subjective expertise of credit managers, with few exceptions
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Antonsson, Hermina. "Macroeconomic factors in Probability of Default : A study applied to a Swedish credit portfolio." Thesis, KTH, Skolan för industriell teknik och management (ITM), 2018. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-239403.

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Macroeconomic conditions can impact the payment capacity of individual mortgage holders' household loans. If the clients of a bank's retail credit portfolio experience deteriorating paymentcapacity it will reflect on the probability of default of the overall portfolio. With IFRS 9, banks are expected to sophisticate their calculations of expected credit loss, demanding forward-looking estimates of probability of default by incorporation of macroeconomic forecasts. Finding what macroeconomic factors have a statistical significant relationship to the actual default frequency of a portfolio can a
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Laing, Fredl. "How well did leading indicators forecast the South African house price deflation caused by the recent global sub-prime crisis." Thesis, Stellenbosch : Stellenbosch University, 2012. http://hdl.handle.net/10019.1/95617.

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Thesis (MBA)--Stellenbosch University, 2012.<br>The use of leading indicators provides a valuable method to predict changes in macro-economic variables. However, the accuracy of the various models using leading indicators is a topic of constant debate. This study aimed to identify whether leading indicator models predicting residential house price changes performed as well during the recent global financial crisis (fourth quarter 2007 to second quarter 2012) as during the period directly before the crisis. Several potential drivers of the South African property market were identified with the
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Bahjat, Mina, and Matilda Andrade. "Riskhantering : En kvalitativ studie om hur storbankernas privatrådgivare hanterar risker och osäkerheter vid ett bostadslån." Thesis, Södertörns högskola, Företagsekonomi, 2016. http://urn.kb.se/resolve?urn=urn:nbn:se:sh:diva-40788.

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Syfte: Syftet med uppsatsen är att undersöka vilka risker de fyra storbankerna tar vid kreditgivningen av bostadslån och hur privatrådgivare hanterar risker och osäkerheter som kan uppstå vid ett bostadslån. Teoretisk referensram: Studiens teoretiska referensram består av teorier och vetenskapliga antaganden, där de flesta behandlar begreppet risk. Det presenteras även vetenskapliga artiklar som tar upp vad tidigare forskning bidragit med i detta område. Metod: Denna studie utgår från ett hermeneutiskt förhållningssätt och präglas av en deduktiv forskningsansats. Undersökningen tillämpar den k
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Kennedy, David Alan. "The ideal asset/liability model for credit unions (with assets between $100 - $500 million)." CSUSB ScholarWorks, 2004. https://scholarworks.lib.csusb.edu/etd-project/2699.

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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.
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Vyskočil, Pavel. "Návrh financování developerského projektu Jaselská kasárna." Master's thesis, Vysoké učení technické v Brně. Fakulta podnikatelská, 2009. http://www.nusl.cz/ntk/nusl-222212.

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This work is focused on development issues, the current situation in the real estate market, the impact of economic crisis and in particular to finance development projects through grants and developer, or. mortgage loans. Practical analyzes and evaluates offers banking institutions to finance a particular project. The result is a recommendation for the selection of individual bids.
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"valuation of credit-linked notes and the expected loss of residential mortgage loans." 2004. http://library.cuhk.edu.hk/record=b5892232.

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Man Po Kong = 信貸相聯票據和住宅按揭的預期損失之估值 / 文普綱.<br>Thesis (M.Phil.)--Chinese University of Hong Kong, 2004.<br>Includes bibliographical references (leaves 85-86).<br>Text in English; abstracts in English and Chinese.<br>Man Po Kong = Xin dai xiang lian piao ju he zhu zhai an jie de yu qi sun shi zhi gu zhi / Wen Pugang.<br>Chapter 1 --- Introduction --- p.1<br>Chapter 2 --- The Structural model --- p.3<br>Chapter 2.1 --- Merton's model --- p.3<br>Chapter 2.2 --- The term structure of interest rate --- p.7<br>Chapter 2.3 --- The default-triggering mechanism and derivations from strict priority rul
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Books on the topic "Portfolio management of mortgage loans"

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United States. Office of Multifamily Housing Programs. A representative portfolio of multifamily housing projects: We build better neighborhoods. 3rd ed. U.S. Department of Housing and Urban Development, 1997.

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Office, General Accounting. Resolution Trust Corporation: Loan portfolio pricing and sales process could be improved : report to the Honorable Bruce F. Vento, House of Representatives. The Office, 1993.

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Smithson, Charles. Credit Portfolio Management. John Wiley & Sons, Ltd., 2003.

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Services, Sheshunoff Information, ed. The High performance loan management system. Sheshunoff Information Services, 1989.

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Scowcroft, John A. Pipeline risk management: Concepts & applications. Board of Trade, 1992.

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J, Fabozzi Frank, Ramsey Chuck, and Marz Michael, eds. The handbook of nonagency mortgage-backed securities. 2nd ed. Frank J. Fabozzi Associates, 2000.

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Bartlett, William W. The valuation of mortgage-backed securities. Irwin Professional Pub., 1994.

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Federal National Mortgage Association. Customer Education Group., ed. Delinquency prevention and management. 2nd ed. FannieMae, Customer Education Group, 1993.

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Federal National Mortgage Association. Customer Education Group. Delinquency prevention and management. FannieMae, Customer Education Group, 2004.

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Office, United States Government Accountability. Hospital mortgage insurance program: Program and risk management could be enhanced : report to congressional committees. GAO, 2006.

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Book chapters on the topic "Portfolio management of mortgage loans"

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Xie, Tianxiu, Yue Zhang, Keke Gai, and Lei Xu. "Cross-Chain-Based Decentralized Identity for Mortgage Loans." In Knowledge Science, Engineering and Management. Springer International Publishing, 2021. http://dx.doi.org/10.1007/978-3-030-82153-1_51.

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Niehaus, Joseph. "Consumer Mortgage Portfolio Hedging with Interest Rate Swaps." In Derivatives Applications in Asset Management. Springer Nature Switzerland, 2025. https://doi.org/10.1007/978-3-031-86354-7_15.

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Quintana León, María Berta, and José Serrano Heredia. "A General Solution to the Mortgage Loans in Mexico." In Soft Computing in Management and Business Economics. Springer Berlin Heidelberg, 2012. http://dx.doi.org/10.1007/978-3-642-30451-4_17.

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Scardovi, Claudio. "The WHAM of a Troubled Corporate Loans Portfolio." In Holistic Active Management of Non-Performing Loans. Springer International Publishing, 2015. http://dx.doi.org/10.1007/978-3-319-25363-3_8.

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Scardovi, Claudio. "The WHAM of a Real Estate Loans Portfolio." In Holistic Active Management of Non-Performing Loans. Springer International Publishing, 2015. http://dx.doi.org/10.1007/978-3-319-25363-3_9.

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Scardovi, Claudio. "The WHAM of a Troubled Leasing Equipment Portfolio." In Holistic Active Management of Non-Performing Loans. Springer International Publishing, 2015. http://dx.doi.org/10.1007/978-3-319-25363-3_10.

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McKendall, Raymond, Stavros Zenios, and Martin Holmer. "Stochastic Programming Models for Portfolio Optimization with Mortgage Backed Securities: Comprehensive Research Guide." In Contributions to Management Science. Physica-Verlag HD, 1994. http://dx.doi.org/10.1007/978-3-642-46957-2_8.

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"Portfolio Management." In Investing in Mortgage Securities. CRC Press, 2002. http://dx.doi.org/10.1201/9781420025354-10.

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"Portfolio Management." In Investing in Mortgage Securities. CRC Press, 2002. http://dx.doi.org/10.1201/9781420025354.ch8.

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"Duration and Portfolio Management." In Investing in Mortgage Securities. CRC Press, 2002. http://dx.doi.org/10.1201/9781420025354-5.

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Conference papers on the topic "Portfolio management of mortgage loans"

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Labudović Stanković, Jasmina. "Investicioni portfolio mortgage reits." In XVI Majsko savetovanje. University of Kragujevac, Faculty of Law, 2020. http://dx.doi.org/10.46793/upk20.149ls.

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The mortgage REITs portfolio consists of mortgage loans and mortgage-backed securities. In this paper we present their specificities. We also draw attention to the controversy surrounding the possible substitutability of mortgage REITs and equity REITs portfolios. We point out the importance of the state's role in the mortgage market. Mortgage REITs, once very popular, have survived the 2007-2008 financial crisis, much harder than equity REITs. This was the reason why the author decided to present the features of the mortgage REITs investment portfolio (mortgage loans and mortgage-backed secur
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Maican, Victoria. "Gestiunea riscului de credit în condițiile actuale în Republica Moldova." In Simpozion Ştiinţific al Tinerilor Cercetători, Ediţia a 21-a. Academy of Economic Studies of Moldova, 2024. http://dx.doi.org/10.53486/sstc.v3.50.

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The purpose of the research is to analyze the credit risk management in the current period. From this perspective, using mathematical tools, the loan portfolio, and loans in credit institutions from the Republic of Moldova were analyzed. The results reflect trends, in the current period, and the credit risk structur. Credit risk expresses the possibility of disturbances which can affect the way the credit granted is used and especially from from the bank's point of view to suggest concrete possibilities like this loan to be repaid, both the principal and the accumulated costs of the loan.
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Reports on the topic "Portfolio management of mortgage loans"

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Gonzalez Diez, Verónica M., and Lourdes Alvarez. Thematic Note: The Challenge of Integrated Watershed Management: Analysis of the Bank's Actions in Watershed Management Programs 1989-2010. Inter-American Development Bank, 2011. http://dx.doi.org/10.18235/0010445.

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The objective of this thematic note is to analyze IDB's actions in integrated watershed management during the period 1989-2010. The approach of the IDB's loan portfolio in this sector shifted from having an emphasis on resource management and conservation (in the 1990s) toward financial support for actions to promote sustainable development and the improvement of the population's quality of life, as well as institutional reforms through the use of programmatic policy-based loans. In general, project evaluability was found to be low. The main limitation is the lack of effective outcome indicato
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Szwedzki, Roni, Jose Fajgenbaum, Ana Ramirez-Goldin, et al. Country Program Evaluation: Costa Rica (2011-2014). Inter-American Development Bank, 2015. http://dx.doi.org/10.18235/0010606.

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This document presents the results of the evaluation of the Bank's country program with Costa Rica for the period 2011-2014. This is the fourth time the Office of Evaluation and Oversight (OVE) has provided an independent review of the Bank's program with Costa Rica. The first Country Program Evaluation (CPE) in 2003 covered the period 1990-2001, during which an open trade model was consolidated, leading to substantial foreign direct investment. The second CPE covered the period 2002-2006, in which the country was heavily exposed to external shocks. The third and most recent evaluation, coveri
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Sembler, Jose Ignacio, Diether Beuermann, Carlos Elías, and Cheryl Gray. IDB-9: Country Programming. Inter-American Development Bank, 2013. http://dx.doi.org/10.18235/0010515.

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This paper analyzes whether IDB-9 requirements surrounding the country programming process of the Inter-American Development Bank (IDB, or Bank) are being implemented fully and effectively. The country programming process includes two documents: the Country Strategy, which provides a multiyear overview of the Bank¿s work program; and an annual document that lays out lending allocations and the work program. The main requirements of IDB-9 related to country programming are that Country Strategies include development and macro-fiscal frameworks, that they build on these frameworks and country di
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Vargas-Herrera, Hernando, Juan Jose Ospina-Tejeiro, Carlos Alfonso Huertas-Campos, et al. Monetary Policy Report - April de 2021. Banco de la República de Colombia, 2021. http://dx.doi.org/10.32468/inf-pol-mont-eng.tr2-2021.

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1.1 Macroeconomic summary Economic recovery has consistently outperformed the technical staff’s expectations following a steep decline in activity in the second quarter of 2020. At the same time, total and core inflation rates have fallen and remain at low levels, suggesting that a significant element of the reactivation of Colombia’s economy has been related to recovery in potential GDP. This would support the technical staff’s diagnosis of weak aggregate demand and ample excess capacity. The most recently available data on 2020 growth suggests a contraction in economic activity of 6.8%, lowe
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Evaluation of Country Portfolio Review Reports. Inter-American Development Bank, 2006. http://dx.doi.org/10.18235/0010488.

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The purpose of this document (RE-314) is to present OVE's evaluation of the country portfolio review reports (CPRs). This report is divided into four chapters. Chapter two presents the frame of reference for the CPR evaluation. This is where the CPR's role in the Bank's evaluation system is defined, as well as its objectives and content, in accordance with established standards, the Programming Committee's decisions, and opinions expressed in interviews and the survey conducted. Chapter three evaluates the quality of the content of all 2004 CPR documents in terms of fulfilling the objectives o
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Inter-American Development Bank Annual Report 2010: The Year in Review. Inter-American Development Bank, 2011. http://dx.doi.org/10.18235/0005731.

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This is the first of two volumes that constitute the Annual Report of the Inter-American Development Bank. The two-volume report contains a review of the Bank's operations in 2010 (loans, guarantees, and grants) and, in a separate volume, Management's Discussion and Analysis: Ordinary Capital, and the financial statements of the Bank. By the end of 2010, the IDB had approved $197 billion in loans and guarantees to finance projects with investments totaling over $420 billion, as well as $4.1 billion in grants and contingent-recovery technical cooperation financing. Among other tasks, in early 2
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Country Program Evaluation: Chile (2006-2010). Inter-American Development Bank, 2010. http://dx.doi.org/10.18235/0010411.

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This Country Program Evaluation (RE-380-1) covers the period 2006 to 2010. The document is organized in chapters as follows: Program Context; The Program with the Bank; Country Program Results; Delivery of the Program; Main Risks for the New Program; and Conclusions and Recommendations. Recommended measures to better align the Bank's strategy focus to the country's support vision include: 1) Pursue actions to preserve and deepen the Bank's value-added to reduce coordination and market failures in public program delivery; 2) Adapt the programming model so the guiding consideration in the Bank's
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Financial Stability Report - First Half of 2023. Banco de la República, 2024. http://dx.doi.org/10.32468/rept-estab-fin.sem1.eng-2023.

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Abstract:
Banco de la República’s main goal is to preserve the purchasing power of the currency in coordination with the general economic policy that is intended to stabilize output and employment at long-term sustainable levels. Properly meeting the goal assigned to the Bank by the 1991 Constitution critically depends on preserving financial stability. This is understood to be a general condition in which the financial system channels domestic savings and evaluates and manages the financial risks in a way that facilitates the performance of the economy and efficient allocation of resources while, at th
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