Abstract In April 2004, China was concerned that speedy development of Investment might lead to an uncontrollable economy. Therefore Prime Minister Chia-Pao Wen announced to apply Macro Adjustment Policy starting from the fields of industries and economy, by using both strategies of administrating and marketing through polices of currency, crediting, foreign exchange management, land management, and industry policy management in the hope of reaching the goal as a stable development. These adjustments have caused great impacts on China¡¦s entire economic development and on Taiwanese businessmen in China. According to the statistics from Taiwan Stock Exchange Corporation and Gretai Securities Market, till the 3rd quarter of 2010, there are 960 listed companies at stock exchange market and over-the-counter market investing in China with accumulated investment amount of NT$10,886 hundred billion. Such a huge investment scale has done quite a great contribution toward economic development in China. Meanwhile, local banking industry in China is facing an increasing demand on financing. Owing to the tightened crediting and foreign exchange management carried out in China on the grounds of Macro Adjustment Policy, most Taiwanese businessmen in China have been deeply influenced regarding the cash flow during operating business. Seeing the difficulty that Taiwanese businessmen in China are confronting, Taiwanese government timely revised Act Governing Relations Between The People Of The Taiwan Area And The Mainland Area and Regulations Governing the Banking Activity and the Establishment by Financial Institution Between the Taiwan Area and the Mainland Area and literally opened the door toward OBU crediting for Taiwanese businessmen in China. It is significant break through for Taiwan¡¦s economy policy towards China since the government moved to Taiwan in 1949. S Bank was the first bank authorized to process OBU crediting for Taiwanese businessmen in China. After evaluating the changes of the environment, S Bank applied Greater China Shanghai Bank Strategic Union Platform in the market of China with OBU crediting targeting Taiwanese businessmen in China. Together with Taiwan¡¦s opening policy and competitive corporation with China banking industry which was restricted by Macro Adjustment Policy, S Bank hold a operating philosophy as a value provider instead of a competitor to expend its strategy of crediting for Taiwanese businessmen in China. Until now, S Bank has become one of the best banks in Taiwan banking industry regarding operating the business with Taiwanese businessmen in Greater China. The object of this research is focused on an individual bank. With research method of collecting information and interviewing with experts, this research was probe into the strategy S Bank used to promote crediting for Taiwanese businessmen in China. In the viewpoints of industry competitive advantage, industry SWOT analysis, and strategy union to discuss the competitive advantage that S Bank has for promoting crediting of Taiwanese businessmen in Greater China. The key points to the success of S Bank can be concluded as follows: (1) Possessing a leading core condensing centripetal force and a team of management (2) Successfully exercising the competitive advantage of Greater China Shanghai Bank Strategic Union Furthermore, in this research all the information collected, interview of the experts, and all the opinions given by professionals from the industry, government, and academic fields have been analyzed, compared, and concluded in the hope of finding the future prospect for S Bank to promote crediting affairs of Taiwanese businessmen in China. During the research, the interviewed experts include senior managers in financing industry and financial supervisors from industries which have invested and established factories in China. With the combined thoughts and opinions from experts and industry financial supervisors, the completeness of this research will be upgraded and hence generally referable achievements can be expected to be organized as a reference for S Bank to use as a strategy for promoting crediting for Taiwanese businessmen in China. Keywords: Crediting for Taiwanese Businessmen in China, Strategic Union¡C

Magistro darbe yra suformuluotos komercinio banko kreditų portfelio formavimo problemos. Remiantis Lietuvos ir užsienio autorių moksline literatūra, pateikti banko kreditų portfelio valdymo metodai ir jų taikymo galimybės. Atlikta AB „Šiaulių bankas“ kreditų portfelio kitimo analizė. Pasiūlyta paskolų apimties didinimo perspektyva bei jos ekonominė nauda bankui. Pirmoji – konceptualioji baigiamojo magistro darbo dalis skirta teoriniams klausimams nagrinėti, remiantis moksline literatūra. Analizuojama Lietuvos mokslininkų F. Jasevičienės, V. Vaškelaičio, D. Ivaškevičiaus, G. Kancerevyčiaus, taip pat užsienio mokslininkų J. Bessis, E. I. Altman ekonominė literatūra, nagrinėjami ir analizuojami paskolų vertinimo, grupavimo ir pelningumo principai. Antroje dalyje analizuojamos AB “Šiaulių bankas“ kreditų kitimo tendencijos. Taikant statistinius metodus atlikta paskolų portfelio apimties kitimo ir struktūros analizė. Taip pat taikant statistinius metodus nustatyta, kas labiausiai veikė visą paskolų portfelio didėjimą. Konstruktyviojoje dalyje analizuojant AB “Šiaulių bankas“ paskolų portfelio kitimo tendencijas, pritaikius statistinius metodus atlikta prognozė 2007 – 2008 metams. Atlikus įvairių autorių nuomonių įvertinimą bei apžvelgus kreditų kitimo tendencijas AB „Šiaulių banke“ pateikiami pasiūlymai kredito portfelio apimčiai didinti. / In the master’s paper portfolio formation problems are formulated for commercial bank credits. Basing upon the Lithuanian and foreign scientific literature, bank credit portfolio control methods and application opportunities are given. AB Siauliu bankas credit portfolio change analysis is done. Loan volume increase perspective and its economic benefit for the bank are suggested. The first, the conceptual part of the master’s paper is dedicated to analyse theoretical questions basing upon scientific literature. Economic literature of Lithuanian scientists F.Jaseviciene, V.Vaskelaitis, D.Ivaskevicius, G.Kancerevycius as well as foreign authors J.Bessis, E.I.Altman is analysed, loan assessment, grouping and profitability principles are analysed. In the second part I analyse AB Siauliu bankas credit change trends. Applying statistical methods, loan portfolio volume change and structure analysis is performed. Also, applying statistical methods, the factors which influenced increase of the loan portfolio are established. In the constructive pat, by analysing AB Siauliu bankas loan portfolio change trends, applying statistical methods, forecast for 2007-2008 is done. After having assessed opinions of various authors and reviewed credit change trends in AB Siauliu bankas, suggestions for increase of credit portfolio volume are given.

The Dynamic Conditional Correlation (DCC) model proposed by Engle (2002) has become one of the most popular models for the analysis of multivariate financial time series. Yet, the impact of temporal aggregation on the DCC estimates has not yet been rigorously investigated. This thesis examines the changes of DCC estimates when the intraday returns are aggregated from 5-minutes to 270-minutes returns using Taiwanese eight industry index returns from Jan. 2, 2004 to Dec. 31, 2006. Our empirical analysis finds that dynamic correlation coefficients between the 8 industry index returns are all positive and time-varying. Further, Electronic and Building indices seem to have high correlation with other industry indices whereas plastics has a lower correlation with others. What is more important, all return series have higher conditional correlation for lower frequencies. In other words, temporary aggregation will increase the conditional correlation. This thesis also seeks to categorize the loan accounts of small- and medium-scale corporations according to their respective business sectors and calculate the monthly returns and standard deviation of the bank loans according to the groups of sample of credit records from each sector, with the purpose of establishing the efficient frontier of the loan combinations of the banks and estimation the dynamic conditional correlation to discover the optimal crediting policy. It is expected that the discussion using the model presented in the thesis may provide the basis for financial institutions as they establish their respective crediting policies.

Tinkamai atliekamos bankų kreditavimo operacijos yra labai svarbios, nes jos padeda nukreipti, paprastai limituotus, šalies piniginius išteklius į dinamiškiausias ir perspektyviausias verslo sritis. t.y. vienas pagrindinių gerai veikiančios rinkos ekonomikos dėsnių. O smulkus ir vidutinis verslas yra ekonomikos varomoji jėga ir socialinio valstybės stabilumo garantas. Šio verslo reikšmės didėjimas tapo akivaizdžiu viso civilizuoto pasaulio esminiu bruožu. Teisinga valstybės politika šioje srityje yra labai svarbus kiekvienos valstybės vidaus politokos uždavinys. Analitikai taip pat sutaria, kad smulkaus ir vidutinio verslo plėtra yra vienas iš prioritetinių Europos Sąjungos ir Lietuvos politikos tikslų. Pirmiausia SVV įmonės yra nuolatinio užimtumo pagrindas – smulkusis verslas tai svarbi priemonė, kovojanti su struktūriniu nedarbu. Antra, didesnis įmonių skaičius duoda postūmį ekonominiam augimui, paskatintam intensyvesnės konkurencijos.SVV įmonės greičiau pajunta rinkos paklausos ir pasiūlos pokyčius, prisitaiko prie jų, užimdamos konkrečias rinkos nišas. Praktinėje dalyje pateikiami tyrimo rezultatai gauti anketinės apklausos būdu iš smulkių ir vidutinių įmonių atstovų. Gauti rezultatai yra interpretuojami bei vertinami, darbo gale pateikiamos tyrimo išvados ir pasiūlymai. / The object of this paper is the crediting possibilities of the small and middle – size lithuanian enterprises.The small and middle business of Lithuania is the garanty of the economics stability and growth.. A risk element always exists in granting loans, so that’s why banks’ must organize rational and will – considered crediting process. Owning to the banks, vacant monetary capital is directed to the most dynamic and perspective business areas, in other words, is converted from idle to functionating capital. The main results of the research are: o the main users of the loans are trade, communication and transport companies; o the main credit market player is Vilnius bank, that takes 48% of the loan market. o the most popular crediting product is big loans ( over 50 000 lt.) with long term period (over 3 year).

Den första januari 2009 ändrades Förmånsrättslagen och bankerna har återigen fått särskild förmånsrätt med 100 procent vid utmätning och konkurs. Den lagändring som genomfördes 2004 innebar endast 55 procent och allmän förmånsrätt för bankerna och fick inte den effekt som regeringen önskat och det blev svårare för företag att låna pengar från banken. De alternativa finansieringsformerna ökade då bankerna inte längre hade samma säkerhet vid konkurser utan då fanns istället säkerheten i objektet. Genom de undersökningar som gjorts där resultat visat de negativa effekterna beslutades om att återställa bankernas förmånsrätt. Frågan är om återgången kommer att förändra bankernas kreditgivning. Genom de intervjuer som genomförts visar de konsekvenser som den tidigare lagen haft på kreditgivningen på att en återgång var nödvändig. I dagsläget ser det inte ut som den nya lagen kommer att påverka finansiärernas syn på krediter med företagshypotek utan de alternativa finansieringsformerna kommer att bestå. / January 1st 2009 the banks priority rights were restored to once again have special rights with 100 percent at distraint and bankruptcy. The change in Law of priority rights that carried through in 2004 meant only 55 percent and general priority rights. This did not have the desired effects. Instead it became more difficult for companies to get loans from the banks. The alternative financing forms were increasing as the banks no longer had the same security at bankruptcies. The security was instead the object. After research that showed the negative effects with the change in law 2004, the government decided to restore the priority rights of the banks. The question is whether the restoration will change the banks crediting process. The conducted interviews show that a regression was necessary. It does not look like the new law will affect the creditors view on crediting with chattel mortgage, the alternative financing forms will remain.

<p>Den första januari 2009 ändrades Förmånsrättslagen och bankerna har återigen fått särskild förmånsrätt med 100 procent vid utmätning och konkurs. Den lagändring som genomfördes 2004 innebar endast 55 procent och allmän förmånsrätt för bankerna och fick inte den effekt som regeringen önskat och det blev svårare för företag att låna pengar från banken. De alternativa finansieringsformerna ökade då bankerna inte längre hade samma säkerhet vid konkurser utan då fanns istället säkerheten i objektet. Genom de undersökningar som gjorts där resultat visat de negativa effekterna beslutades om att återställa bankernas förmånsrätt. Frågan är om återgången kommer att förändra bankernas kreditgivning. Genom de intervjuer som genomförts visar de konsekvenser som den tidigare lagen haft på kreditgivningen på att en återgång var nödvändig. I dagsläget ser det inte ut som den nya lagen kommer att påverka finansiärernas syn på krediter med företagshypotek utan de alternativa finansieringsformerna kommer att bestå.</p> / <p>January 1st 2009 the banks priority rights were restored to once again have special rights with 100 percent at distraint and bankruptcy. The change in Law of priority rights that carried through in 2004 meant only 55 percent and general priority rights. This did not have the desired effects. Instead it became more difficult for companies to get loans from the banks. The alternative financing forms were increasing as the banks no longer had the same security at bankruptcies. The security was instead the object. After research that showed the negative effects with the change in law 2004, the government decided to restore the priority rights of the banks. The question is whether the restoration will change the banks crediting process. The conducted interviews show that a regression was necessary. It does not look like the new law will affect the creditors view on crediting with chattel mortgage, the alternative financing forms will remain.</p>

On the one hand mortgage lending is an objective driver of the growth of the Russian economy and on the other hand it’s an important element of social policy and support of the population, and primarily of young people. From the position of credit organizations acting in the person of creditors, mortgage lending is a source of financial risks. These aspects are comprehensively considered in the graduate thesis. As the main direction of risk optimization and expansion of the mortgage market, additions are proposed to the existing model of the borrower's solvency analysis. An interesting and technologically reasonable proposal was made: using the information resources of the IFTS in order to improve the reliability and quality of data for analysis of potential borrowers, which will simultaneously give a positive shift in terms of reducing the time. Special attention should be paid to the offer of a new service - the "one-stop" mode, which will optimize time costs, improve the quality of crediting, and enable the operative use of tax deductions, the right to which is fixed in the Tax Code. / Ипотечное кредитование является объективным драйвером роста экономики России, с одной стороны, важным элементом социальной политики и поддержки населения, и в первую очередь молодежи, с другой стороны. С позиции кредитных организаций, выступающих в лице кредиторов, ипотечное кредитование представляет собой источник финансовых рисков. Данные аспекты всесторонне рассмотрены в дипломной работе. В качестве основного направления оптимизации рисков и расширения рынка ипотеки предложены дополнения в существующую модель анализа кредитоспособности заемщика. Сделано интересное и технологически целесообразное предложение: использование информационных ресурсов ИФНС в целях повышения достоверности и качества данных для анализа потенциальных заемщиков, что одновременно даст положительный сдвиг в плане сокращения сроков. Отдельного внимания заслуживает предложение нового сервиса – режим «одного окна», который позволит оптимизировать временные затраты, повысить качество кредитования, даст возможность оперативного использования налоговых вычетов, право на которые закреплены в Налоговом кодексе.