Milford Bank and Trust Company is revamping its credit management department, focusing on the three C's of credit: Character, Capacity, and Capital. The report for the board will detail these components and their importance in credit analysis. Additionally, it will explain the CAMEL acronym, which is relevant to evaluating the third C, Capital.

1. Consider the following scenario:
Milford Bank and Trust Company is revamping its credit
management department to more effectively manage credit
analysis. As the credit manager for the bank, draft a 750-word
report for the board of directors explaining the three C's of
credit. Make sure to address the following:
Character
Capacity
Capital
Also, explain what the acronym CAMEL means, which is used
with the third C (capital