Specifics of Determining the Market Assessment Rights Requirement for Obligations Arising from the Implementation of the Bank Credit Operations of Different Quality that are Secured and Unsecured Collaterally
This article offers the standardized mechanisms of the market assessment rights requirement for obligations of different quality categories arising as a result of the bank credit operations implementation. Specific approaches and assessment methods are relevant both to the existing legislation of th...
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Інститут економіки промисловості НАН України
2015
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| Цитувати: | Specifics of Determining the Market Assessment Rights Requirement for Obligations Arising from the Implementation of the Bank Credit Operations of Different Quality that are Secured and Unsecured Collaterally / V.F. Stolyarov, D.M. Artemenko // Економічний вісник Донбасу. — 2015. — № 4 (42). — С. 105-110. — Бібліогр.: 5 назв. — англ. |
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irk-123456789-1093262016-11-25T03:02:35Z Specifics of Determining the Market Assessment Rights Requirement for Obligations Arising from the Implementation of the Bank Credit Operations of Different Quality that are Secured and Unsecured Collaterally Stolyarov, V.F. Artemenko, D.M. Finance This article offers the standardized mechanisms of the market assessment rights requirement for obligations of different quality categories arising as a result of the bank credit operations implementation. Specific approaches and assessment methods are relevant both to the existing legislation of the professional appraisal activity implementation in Ukraine and to national and international assessment standards, and meet the criteria of the National Bank of Ukraine on the calculation of credit risk. The proposed assessment model allows to determine the assessment rights requirement for obligations by the formed credit portfolio of the bank at minimum cost and the lack of sufficient information concerning the object assessment. У статті запропоновані уніфіковані механізми оцінки прав вимоги за зобов'язаннями різних категорій якості, що виникають внаслідок здійснення банком кредитних операцій. Конкретні підходи та методи оцінки, відповідають чинному законодавству щодо здійснення професійної оціночної діяльності в Україні, а також національним і міжнародним стандартам оцінки та задовольняють вимогам положень Національного банку України про порядок розрахунку ризику кредиту. Запропонована модель оцінки дозволяє визначити вартість прав вимоги зобов'язань за сформованим кредитним портфелем банку, за мінімальних витрат та браком достатньої інформації відносно об'єкту оцінки. В статье предложены унифицированные механизмы оценки прав требования по обязательствам различных категорий качества, возникающих в результате осуществления банком кредитных операций. Конкретные подходы и методы оценки, соответствуют действующему законодательству по осуществлению профессиональной оценочной деятельности в Украине, а также национальным и международным стандартам оценки и удовлетворяют требованиям положений Национального банка Украины о порядке расчета риска кредита. Предложенная модель оценки позволяет определить стоимость прав требования обязательств по сложившемуся кредитному портфелю банка, при минимальных затратах и нехватке достаточной информации относительно объекта оценки. 2015 Article Specifics of Determining the Market Assessment Rights Requirement for Obligations Arising from the Implementation of the Bank Credit Operations of Different Quality that are Secured and Unsecured Collaterally / V.F. Stolyarov, D.M. Artemenko // Економічний вісник Донбасу. — 2015. — № 4 (42). — С. 105-110. — Бібліогр.: 5 назв. — англ. 1817-3772 http://dspace.nbuv.gov.ua/handle/123456789/109326 338.242:336.77 en Економічний вісник Донбасу Інститут економіки промисловості НАН України |
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Digital Library of Periodicals of National Academy of Sciences of Ukraine |
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DSpace DC |
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Finance Finance |
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Finance Finance Stolyarov, V.F. Artemenko, D.M. Specifics of Determining the Market Assessment Rights Requirement for Obligations Arising from the Implementation of the Bank Credit Operations of Different Quality that are Secured and Unsecured Collaterally Економічний вісник Донбасу |
| description |
This article offers the standardized mechanisms of the market assessment rights requirement for obligations of different quality categories arising as a result of the bank credit operations implementation. Specific approaches and assessment methods are relevant both to the existing legislation of the professional appraisal activity implementation in Ukraine and to national and international assessment standards, and meet the criteria of the National Bank of Ukraine on the calculation of credit risk. The proposed assessment model allows to determine the assessment rights requirement for obligations by the formed credit portfolio of the bank at minimum cost and the lack of sufficient information concerning the object assessment. |
| format |
Article |
| author |
Stolyarov, V.F. Artemenko, D.M. |
| author_facet |
Stolyarov, V.F. Artemenko, D.M. |
| author_sort |
Stolyarov, V.F. |
| title |
Specifics of Determining the Market Assessment Rights Requirement for Obligations Arising from the Implementation of the Bank Credit Operations of Different Quality that are Secured and Unsecured Collaterally |
| title_short |
Specifics of Determining the Market Assessment Rights Requirement for Obligations Arising from the Implementation of the Bank Credit Operations of Different Quality that are Secured and Unsecured Collaterally |
| title_full |
Specifics of Determining the Market Assessment Rights Requirement for Obligations Arising from the Implementation of the Bank Credit Operations of Different Quality that are Secured and Unsecured Collaterally |
| title_fullStr |
Specifics of Determining the Market Assessment Rights Requirement for Obligations Arising from the Implementation of the Bank Credit Operations of Different Quality that are Secured and Unsecured Collaterally |
| title_full_unstemmed |
Specifics of Determining the Market Assessment Rights Requirement for Obligations Arising from the Implementation of the Bank Credit Operations of Different Quality that are Secured and Unsecured Collaterally |
| title_sort |
specifics of determining the market assessment rights requirement for obligations arising from the implementation of the bank credit operations of different quality that are secured and unsecured collaterally |
| publisher |
Інститут економіки промисловості НАН України |
| publishDate |
2015 |
| topic_facet |
Finance |
| url |
http://dspace.nbuv.gov.ua/handle/123456789/109326 |
| citation_txt |
Specifics of Determining the Market Assessment Rights Requirement for Obligations Arising from the Implementation of the Bank Credit Operations of Different Quality that are Secured and Unsecured Collaterally / V.F. Stolyarov, D.M. Artemenko // Економічний вісник Донбасу. — 2015. — № 4 (42). — С. 105-110. — Бібліогр.: 5 назв. — англ. |
| series |
Економічний вісник Донбасу |
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| fulltext |
V. F. Stolyarov, D. М. Artemenko
105
Економічний вісник Донбасу № 4(42), 2015
UDC 338.242:336.77
V. F. Stolyarov,
DrHab (Economics),
Chernivtsi Trade and Economics Institute of Kyiv National
Trade and Economics University, Chernivtsi,
D. М. Artemenko,
Kyiv National Economic University named after Vadym Hetman
SPECIFICS OF DETERMINING THE MARKET ASSESSMENT RIGHTS
REQUIREMENT FOR OBLIGATIONS ARISING FROM THE IMPLEMENTATION
OF THE BANK CREDIT OPERATIONS OF DIFFERENT QUALITY
THAT ARE SECURED AND UNSECURED COLLATERALLY
Problem and its solution. Debt obligations of the
debtor to the creditor are special kind of assets, which
are based on the right to obtain certain economic bene-
fits. The problem of the assessment rights requirement
for obligations under the credit agreement has acquired
special urgency after the crisis of 2008, when the banks
had overdue portfolios of loans (bad debts of borrow-
ers).
The cost of the claim is the result of many factors
analysis, however the arrear is one of the main but not
the only factor in the value of the rights requirement for
obligations. Despite the presence of publications on this
issue that highlight the general methodical bases of the
object evaluation, there are still many unresolved prob-
lems in contemporary assessment practice. First of all it
is necessary to develop a model for determining the as-
sessment rights requirement for obligations arising as a
result of bank credit operations implementation in spe-
cific conditions related to assess, the status of the lender
(the Bank) and the lack of sufficient information regard-
ing the object assessment.
The number of local scientists and practitioners
dedicated their research papers to the finance assess-
ment of debt obligations. Among them I.Galkin,
O.Drapikovskyy, Y.Dehtyarenko, N. Zhylenko, I. Iva-
nova, V. Lartsev, N. Lebid, J. Marcus, O. Mendrul,
S.Sivets, S.Skrynko, O.Puzenko, F.Puziy, A.Chirkin as
well as the international scientists such as A.Damo-
daran, V.Hrybovskyy A.Hriaznova
A.Gregory, F.Evans, Y.Kozyr, V.Mykhaylets,
O.Stoyanova, T. Harrison.
Taking into the consideration their significant con-
tribution to the methodological support formation of the
financial assessment of property rights, it is worth not-
ing the lack of disclosure of the assessment rights re-
quirement for obligations problem arising as a result of
bank credit operations implementation.
The article aims to study and test the standardized
mechanisms of the assessment rights requirement for
obligations arising as a result of bank credit operations
implementation.
Presentation of the main material.
The demands on the reliability of the banking sys-
tem are increasing with the development of market rela-
tions in Ukraine and which is largely determined by the
size and condition of the credit institutions assets. In
these conditions the need of their reliable value assess-
ment is increasing and is adequately characterized by the
market value.
On the whole, the information about the market
value of credit institutions assets can serve as a basis for
the solution of many problems both the issues of general
importance and the ones of the banking sector function-
ing and some of its units. This assessment allows mak-
ing more informed decisions about maintaining the effi-
ciency of credit institutions with the owners, managers
and investors when making decisions on mergers and
acquisitions, liquidation and treatments conducting;
maintaining the financial situation which are adequate
to market conditions; predicting their future develop-
ment and behavior in the market; a more accurate risk
assessment of the interaction between contractors and
the credit institution.
At the national level, these kinds of data help to
implement the effective regulation and the banking sys-
tem supervision that are very important in solving prob-
lems of restructuring, treatment and strengthening of
the whole financial system. In addition, this information
is essential to determine the actual tax base and for credit
institution property insurance.
The commercial bank as the most important finan-
cial and economic institute, of course, obviously has its
own peculiarities of assessment and its value determina-
tion. Considering this question one of the prominent rep-
resentatives of foreign school American economist P.
Rose comes from the premise that the bank activity in-
dicators are oriented on two interrelated characteristics
i.e. profitability and risk that are to be materialized in
the bank value indicator. This is because commercial
banks are entrepreneurial corporation with the task to
maximize the funds value contributed by shareholders,
while maintaining acceptable level of risk.
V. F. Stolyarov, D. М. Artemenko
106
Економічний вісник Донбасу № 4(42), 2015
Naturally, the main asset of the bank, which deter-
mines the size and financial situation, is the individuals
and entities loan portfolio. So, it is extremely important
to develop a unified methodology of the assessment
rights requirement for obligations in these loans portfo-
lios.
The background information for the assessment
rights requirement for credit, credit is in the case mate-
rials and is formed on paper and should contain:
• written request (application) about the debtor's
loan;
• business plan, feasibility study of need for the
definite goal (if applicable);
• contracts and / or purchase and sale agreement
(if any);
• financial statements (for legal entities), income
information (for individuals) of a debtor;
• financial and budget statements (for budgetary
institutions);
• information on receipts on current bank ac-
counts at least the last six full months;
• information provided by the debtor and vali-
dated by other banks about:
a. debtor indebtedness defining basic terms of
the loan (the amount of the contract, term
debt balance, type of collateral, etc.);
b. evidence of the overdue indebtedness;
• information about the debtor's obligations to the
bank according to previous agreements, credit history (if
any);
• information about the verification of proper
loan use;
• supporting documents (statement of balance
sheet and off-balance sheet accounts, payment orders,
etc.) providing the evidence of loan provision and repay-
ment, the existing financial obligations, mortgaged
property recognition, etc;
• audit report on the financial status of the debtor;
• constituent and registration documents (for le-
gal entities), copies of the relevant pages of the passport
and the registration number certificate of the taxpayer
registration card (for individuals);
• loan agreement and additional agreements
thereto;
• mortgage loans agreements and additional
agreements to them, guarantee letters;
• documents confirming person authority to sign
a loan agreement, mortgage loans agreements and addi-
tional agreements thereto on behalf of the counterparty
bank;
• copies of title documents on property (the legal
claim) that is transferred as collateral;
• documents confirming the market value of the
mortgaged property (the legal claims) during the loan
disbursement;
• documents proving the existence and the qual-
ity preservation of the mortgaged property (acts, infor-
mation, inspections materials);
• documents proving the property encumbrances
and its state registration in accordance with the laws of
Ukraine;
• insurance agreements of the mortgaged prop-
erty and documents confirming insurance payment (if
any);
• information about measures taken by the bank
to repay debt (documents certifying debt collection and
recovery procedure).
Debt obligations nature causes a lack of their wear
factors and does not include the cost of reproduction.
The use of the cost approach for the debts obligations
assessment reduces to their book value determination
adjusting for the obligations which limitation period has
expired or something alike. Therefore, taking into ac-
count the mentioned above, the cost approach is not used
in the process of the assessment rights requirement for
obligations.
Considering that information about such objects
sale is limited and does not meet the criteria of reliability
the comparative approach is not applied as well.
Income approach is the only one of the universally
accepted approach that allows building the assessment
model, taking into account the specifics of the object as-
sessment and existing burden of rights requirement.
That is why we believe it is necessary to apply the in-
come approach as the one that reflects the market situa-
tion the most accurately.
The market value assessment of rights requirement
for obligations is carried out in the following stages us-
ing the income approach:
• forecasting the possible income options from
management (order) of the estimated legal require-
ments;
• determining the forecast period for each of the
mentioned variants, presenting the key assumptions that
will be used during the assessment;
• drawing up a possible plan of the debtor cash
flow including debt collection regarding the presump-
tive time of payment receipt for each of the income pre-
sumptive options (cash flow). The expected gross in-
come from obligation reimbursement is determined at
this stage for each of the presumptive options.
• forecasting the presumptive volume of expend-
itures associated with gross income obtaining in each of
the presumptive options;
• calculating the expected net cash flow for each
forecast period as the difference between gross income
and expenses;
• determining the discount rate for each of the
presumptive options;
• calculating the value of rights requirement for
obligations as the sum of the present value of net cash
V. F. Stolyarov, D. М. Artemenko
107
Економічний вісник Донбасу № 4(42), 2015
flows for each of the presumptive options of forecasting
and the results reconciliation, to justify the estimated the
market value assessment of rights requirement for obli-
gations.
The market value of the rights requirement for loan
agreements is advisable to calculate according to the for-
mula:
0 0
1 1 1
( )
(1 ) (1 ) (1 )
col col cr
m col d col еN N N
к
R R R
V V V V p
r r r
− − −
= + − × ×
+ + + ,
where:
Vm – the market value of debt obligations;
Vcol – the collateral total value for credit operations;
Vd – the debt total value on a credit transaction at the assessment date;
Rcol, Rcr – thereafter, rate risk associated with the presence of collateral property rights and rate risk associated
with the presence of collateral property rights under the loan agreement;
r0 – basic discount rate that is equal to the credit cost for commercial banks (offering to take at NBU discount
rate);
rк – the discount rate for credit operations in accordance with the credit quality category and the debt service
state;
N – discount period - the period during which cash flows are expected from the execution of debt obligations
(depending on the claim of the creditor);
peь – plausibility that the debtor (payer) is able to fulfill debt obligations from an economic point of view.
It is worth mentioning that if Vm >Vd, then Vm =Vd.
The use of this model can adequately take into ac-
count not only the cash flows at the time, but also the
legal and economic quality of these debt obligations that
eventually form their cost.
Forecasting cash flow schedule (expected creditor
revenues) from debt obligations fulfill is advisable
to perform according to the state of claim activity
(Table 1).
Table 1
Terms of fund receipts depending on the state of
claim activity
Claim activity pro-
cedure and its du-
ration
Claim activity
stage
Term of the
funds,
months.
Claim activity is di-
rected (terms of de-
lay is 1-1.5 months)
Claim activity
was not per-
formed
10 -20
Waiting for a re-
sponse and sue (1-2
months)
Claim activities
are directed and
period for reply is
sustained
9-18
Judicial trial (3-6
months).
There is court de-
cision and en-
forcement pro-
ceedings are initi-
ated by the State
Executive Service
6-12
Enforcement pro-
ceedings by the
State Executive Ser-
vice
(6-12 months.)
-
-
The discount rate for loan operations (rк) is deter-
mined by risk level for loan operations in accordance
with the clause of the National Bank of Ukraine
(Table 2) [3].
Table 2
Risk calculation of indicator provided to the debtor
Credit quality
category
Number
of delayed
days of
The accepted
value of the dis-
count rate, %
І – the highest
category
0-7 0-6
ІІ 8 -30 7-20
ІІІ 31 - 90 21-50
ІV 91 - 180 51-99
V – the lowest
category
beyond 180 100
On the basis of the relevant legal analysis, determi-
nation of the probability that the debtor (payer) will be
required to fulfill the collateral (guarantee, mortgage)
debt obligations from a legal point of view, is the risk
associated with the presence of collateral property
rights. This risk is offered to be calculated according to
the following algorithm:
1) the total risk is determined according to collat-
eral certain type (not more than 100%);
2) cost shares of all collateral types for credit op-
erations are calculated;
3) weighted risk associated with the presence of
property rights for all kinds of collateral is calculated.
Criteria for determining the total risk for a certain
type of collateral listed below [6].
V. F. Stolyarov, D. М. Artemenko
108
Економічний вісник Донбасу № 4(42), 2015
Real Estate:
• physical lack of documented collateral is 100%
risk which does not allow the further collateral assess-
ment;
• lack of registration record in the state register is
a high risk of penalty imposition on the property. The
recommended risk is 30-50%;
• lack of the borrower corporate body decision
carries a high threat of a positive outcome for property
enforcement procedure. The recommended risk is 50%;
• the collateral correct description is critical in
case of significant errors in the subject description. The
risk can be assessed up to 100% depending on the cor-
rectness;
• the collateral quality characteristics may be af-
fected by the time of the assessment date until the col-
lateral realization (physical wear and intentional harm-
ful effect). The risk can be assessed up to 20%.
Movables:
• physical lack of documented collateral is 100%
risk which does not allow the further collateral assess-
ment;
• the disputes availability over the collateral
property is estimated depending on the collateral appeal
process, the lawyer represents the expert assessment of
the litigations successful outcome probability. The risk
can be assessed up to 100%;
• the risk is zero if the fully autonomous use of
collateral is possible, if the autonomous use of the col-
lateral involves significant capital investment to its cur-
rent state, the risk is assessed in proportion to the level
of expenditure;
• risk of inconsistencies in the details of the prop-
erty mortgage contracts and accounting documents
could be assessed up to 100% in consultation with a law-
yer Client (as in the case of appeal cases with similar
collateral);
• the collateral quality characteristics may be af-
fected by the time of the assessment date until the col-
lateral realization (physical wear and intentional harm-
ful effect). The risk can be assessed up to 50%.
Guaranty
• lack of the borrower corporate body decision
carries a high threat of a positive outcome for property
enforcement procedure. The recommended risk is 50%;
• the recommended risk is 100% in the absence
of information on the financial and property status of
guarantor.
The determining of probability that the debtor
(payer) will be required to fulfill the debt obligations un-
der the credit agreement from a legal point of view is the
risk associated with the presence of rights requirement
under this agreement. This risk is offered to be calcu-
lated according to the following recommendations:
• incorrect execution of agreement on the loan
and additional agreements to it. The risk can be assessed
up to 100%;
• lack of the borrower corporate body decision
carries a high threat of a positive outcome for property
enforcement procedure. The recommended risk is 50%;
• the risk is 100% in case of absence of bor-
rower’s physical accessibility (borrower left the coun-
try, died or his location is not established).
The probability that the debtor (payer) meet debt
obligations from an economic point of view depending
on the debt service state has been identified and summa-
rized by an expert, based on actual assessments of loan
portfolios (Table 3).
Table 3
Terms of debt,
days
Probability
to 30 1
31-60 0,95
61-180 0,50
181-365 0,35
366-545 0,25
546-1095 0,10
beyond 1095 0,05
* 5% probability is taken to resolve the situation for
ATO and Autonomous Republic of Crimea zones.
Example of the market value calculating of the loan
portfolio is presented in table 4.
It should be noted that the revaluation of portfolios
that are NBU pledged and the loans which quality has
deteriorated to the III-V categories of quality aren’t tak-
ing into consideration (NBU Resolution of November
18, 2015 N 794).
Conclusions
Nature of debt obligations is specified by lack of
wear factors and does not include the cost of reproduc-
tion. The cost approach usage for debt obligations as-
sessment is reduced to the determination of their carry-
ing value with amount of obligations adjustment for
which the period of limitation is expired. Therefore, the
cost approach in the process of determining the value of
the assessment rights requirement for obligations is not
used.
Using a comparative approach in the debt obliga-
tion assessment is not possible due to lack of market in-
formation related to the analogs selection and editing
performing. That is, the application of the income ap-
proach for the assessment rights requirement is the only
option. The income approach methods correspond to the
principles of determining the assessment market value
mentioned above.
The approaches and assessment methods corre-
spond to the current legislation to implement profes-
sional appraisal activities in Ukraine as well as national
and international standards and meet the resolution cri-
teria of the National Bank of Ukraine on the calculation
of the loan risk indicator.
V. F. Stolyarov, D. М. Artemenko
109
Економічний вісник Донбасу № 4(42), 2015
Table 4
The market value of rights requirement calculation for credit operations
S
No.
N
am
e
of
t
h
e
bo
rr
ow
er
o
n
t
h
e
lo
an
w
h
os
e
ri
gh
ts
r
eq
u
ir
em
en
t
is
e
st
im
at
ed
T
h
e
to
ta
l a
m
ou
n
t
ow
ed
o
n
t
h
e
lo
an
, U
A
H
.
Q
u
al
it
y
cr
ed
it
c
at
eg
or
y
The collat-
eral total
cost at the
assessment
date
R
co
l
R
cr
C
re
d
it
r
is
k
in
d
ex
S
ta
ge
o
f
cl
ai
m
s
The loan
market
value
1 2 3 4 5 6 7 8 9 10
1
Ivan
Ivanov
176 849,46 І 100 289,98 0,95 1 0,00 Work wasn’t carried out 176 849,46
2
Anton
Lazo
266 191,95 ІІ 186 789,74 1 1 0,20 Work wasn’t carried out 231 577,51
… …. …. … … … … … .. …
Methodical measures included statistical data col-
lection agencies in determining the likelihood that the
debtor (payer) meets debt economically depending on
the state debt service.
The statistical data of the debt collection agencies
are included in the methodical measures to determine
the probability that the debtor (payer) meet debt obliga-
tions from an economic point of view depending on the
debt service state.
The proposed assessment model allows to deter-
mine the assessment rights requirement for obligations
not only under the specific credit agreement, but also by
formed credit portfolio of the bank, at minimum cost and
in terms of not sufficient information conditions on
property assessment.
References
1. Про затвердження Національного стандарту
№ 1 «Загальні засади оцінки майна і майнових прав:
Постанова Кабінету Міністрів України від
10.09.2003 р. № 1440. 2. Наказ Фонду державного
майна України № 1426 від 30.09.2011р. «Методичні
рекомендації до оцінки права вимоги зобов'язання,
що виникає внаслідок здійснення банком кредитних
операцій». 3. Положення про порядок формування
та використання банками України резервів для
відшкодування можливих втрат за активними
банківськими операціями, затверджене постановою
Правління Національного банку України від
25.01.2012 р. № 23 зі змінами та доповненнями.
4. «Міжнародні стандарти оцінки». Восьме видан-
ня, 2008 / пер. з англ. С.О. Пузенка. – К.: «АртЕк»,
2008. – 432 с. 5. Методические рекомендации
«Оценка прав требования по кредитным соглаше-
ниям банков» [Электронный ресурс]. – Режим до-
ступа: http://www.ocenchik.ru/docs/456.html.
Столяров В. Ф., Артеменко Д. М. Особливо-
сті визначення ринкової вартості прав вимоги за
зобов'язаннями, що виникають внаслідок здійс-
нення банком кредитних операцій різних катего-
рій якості, які забезпечені та не забезпечені заста-
вою
У статті запропоновані уніфіковані механізми
оцінки прав вимоги за зобов'язаннями різних кате-
горій якості, що виникають внаслідок здійснення ба-
нком кредитних операцій. Конкретні підходи та ме-
тоди оцінки, відповідають чинному законодавству
щодо здійснення професійної оціночної діяльності в
Україні, а також національним і міжнародним стан-
дартам оцінки та задовольняють вимогам положень
Національного банку України про порядок розраху-
нку ризику кредиту. Запропонована модель оцінки
дозволяє визначити вартість прав вимоги зобов'я-
зань за сформованим кредитним портфелем банку,
за мінімальних витрат та браком достатньої інфор-
мації відносно об'єкту оцінки.
Ключові слова: ринкова вартість, кредитна опе-
рація, оціночні процедури, підхід до оцінки, кредит-
ний портфель, ризик кредиту, дисконт, забезпе-
чення, принципи оцінки.
Столяров В. Ф., Артеменко Д. М. Особенно-
сти определения рыночной стоимости прав тре-
бования по обязательствам, возникающим
вследствие осуществления банком кредитных
операций различных категорий качества, кото-
рые обеспечены и не обеспечены залогом
V. F. Stolyarov, D. М. Artemenko
110
Економічний вісник Донбасу № 4(42), 2015
В статье предложены унифицированные меха-
низмы оценки прав требования по обязательствам
различных категорий качества, возникающих в ре-
зультате осуществления банком кредитных опера-
ций. Конкретные подходы и методы оценки, соот-
ветствуют действующему законодательству по осу-
ществлению профессиональной оценочной деятель-
ности в Украине, а также национальным и междуна-
родным стандартам оценки и удовлетворяют требо-
ваниям положений Национального банка Украины о
порядке расчета риска кредита. Предложенная мо-
дель оценки позволяет определить стоимость прав
требования обязательств по сложившемуся кредит-
ному портфелю банка, при минимальных затратах и
нехватке достаточной информации относительно
объекта оценки.
Ключевые слова: рыночная стоимость, кредит-
ная операция, оценочные процедуры, подход к оце-
нке, кредитный портфель, риск кредита, дисконт,
обеспечение, принципы оценки.
Stolyarov V. F., Artemenko D. M. Specifics of
Determining the Market Assessment Rights Re-
quirement for Obligations Arising from the Imple-
mentation of the Bank Credit Operations of Differ-
ent Quality that are Secured and Unsecured Collat-
erally
This article offers the standardized mechanisms of
the market assessment rights requirement for obliga-
tions of different quality categories arising as a result of
the bank credit operations implementation. Specific ap-
proaches and assessment methods are relevant both to
the existing legislation of the professional appraisal ac-
tivity implementation in Ukraine and to national and in-
ternational assessment standards, and meet the criteria
of the National Bank of Ukraine on the calculation of
credit risk. The proposed assessment model allows to
determine the assessment rights requirement for obliga-
tions by the formed credit portfolio of the bank at mini-
mum cost and the lack of sufficient information con-
cerning the object assessment.
Keywords: market value, credit transaction, assess-
ment procedures, assessing approach, the credit portfo-
lio, credit risk, discount, maintenance, assessment prin-
ciples.
Received by the editors: 12.12.2015
and final form 28.12.2015
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