The recent internationalization trend among Japanese regional banks is a topic of interest for researchers in the context of regional bank growth strategy. This paper examines the factors that explain the lending behavior of regional banks in the international syndicated loan market during the period from 2009 to 2014. Through a comparative analysis and probit model using data from 10,717 transactions, it is found that regional banks prefer to participate in syndicated loans of lower amounts. The denomination of loans in Japanese yen is the most important factor in increasing the probability that regional banks will participate in these loans. The second most important consideration in explaining the lending behavior of regional banks relates to the characteristics of the borrowers. Regional banks prefer Asian borrowers that are in the financial services industry. Risk-taking and funding capacities can explain the characteristics of regional banks.
This presentation shows financial managers how to predict how long accounts will likely stay open. It is based on a sophisticated statistical probability model.
A war on thrift? A perversion of the natural order? A mad experiment? As more central banks push their deposit rate structures into negative territory, a vigorous debate has erupted among economists, investors and policy officials about the appropriateness, effectiveness and consequences of negative interest rates.
bank core deposits: comparison between new Weibull approach and old U.S. OTS assumptions. Result: increased profitability with better product pricing, improved franchise value metrics, and better liquidity assumptions,
This presentation shows financial managers how to predict how long accounts will likely stay open. It is based on a sophisticated statistical probability model.
A war on thrift? A perversion of the natural order? A mad experiment? As more central banks push their deposit rate structures into negative territory, a vigorous debate has erupted among economists, investors and policy officials about the appropriateness, effectiveness and consequences of negative interest rates.
bank core deposits: comparison between new Weibull approach and old U.S. OTS assumptions. Result: increased profitability with better product pricing, improved franchise value metrics, and better liquidity assumptions,
credit is very important for business and economy. growth of economy depends on credit creation. commercial banks play an important role in it. but if it is uncontrolled then it can create fluctuations in economy. it can bring inflation or recession in economy.
in this PPT how commercial banks distribute loan and how it is affected by various factors are explained.
Volume of Deposits, A determinant of Total Long-term Loans Advanced by Commer...iosrjce
Commercial banks have exponentially increased their total loans advanced over the period 2002-
2013. However commercial banks in Kenya have shown varying long term lending behavior. The main objective
of this study was to establish the effect of determinants of long term lending in the Kenyan banking industry, a
case of Bungoma County. This study was guided by the following specific objective; to determine the effect of
volume of deposit on total loan advanced, of selected commercial banks in Kenya. The target population
comprised 13 commercial banks in Bungoma County with a sample size of 52 respondents. From the findings,
for every unit increase in volume of deposits, a 10.9%, unit increase in total loans advanced is predicted. The
model hypothesizes that there is functional relationship between the dependent variable and the independent
variable. The study then recommends that commercial banks should focus on mobilizing more deposits as this
will enhance their lending performance.
Creating Shareholder Value in Midcap BanksJohn Rickmeier
The mission of a bank is to operate a safe and sound financial institution, while creating shareholder value. The value of a bank, defined by the ratio of market value to common equity, most often is directly related to the return on equity (ROE) less the cost of equity capital (COE).
3 simple points to understand negative interest ratesFinMarket Guru
As you must have recently come across the news that BOJ (Bank of Japan) is moving towards negative interest rates.
So what is this all about? If you are from India, you might not have faced negative interest rates in your life. Infact, you must only be aware of the term – interest rate (which is by default positive)
So, let us understand this in 3 simple points...
Cryptocurrency Liquidity Increased Notably in 2018Boris Richard
Despite the 2018 slump in cryptocurrency prices, liquidity increased significantly last year across all major types of digital tokens compared to 2017.
Basel III - Implications of ImplementationDavid Kyson
This report has been commissioned to give an investigative insight into the implementation of Basel III; the implications of implementing, previous accords and also the impact this has on various systems and activities. It will explore the previous shortcomings of the accords, aswel as the new requirements. There will be a brief description on each topic as well as a sound, but critical analysis of the impact upon each of these, caused by Basel III. Topics include: Basel III, previous accords, Global Bank Lending and the Bank System.
It incorporates a variety of information sources to gain a broader understanding of viewpoints and effects, but will focus largely on Bank Behaviour in Response to Basel III: A Cross-Country Analysis by Thomas F. Cosimano and Dalia S. Hakura (2011).
International syndicated loans and regional banksMasaki Yamaguchi
This paper investigates regional bank participation in international syndicated loans, which attract significant attention from the banking industry. This topic has a remarkable importance for regional banks because overseas activities are related to their growth strategies. We pose two questions to illustrate the internationalization of regional banks. The first question explores differences in loan transactions between the first internationalization during 1992-1997 and the second internationalization during 2009-2014. The second question seeks to identify the types of loan transactions preferred by regional banks. We answer these questions by using a comparative analysis and Probit analysis of 23,387 transaction data. Activities of regional banks in the first period overwhelm that of the second period. The first internationalization was characterized by a broad base of participant banks. Estimation results demonstrated similarities in the lending behavior of regional banks between the two periods. Smaller loan amounts, larger syndicates, and loan purposes for ordinary business facilitate regional bank participation in syndicated loans. These preferences reflect limited risk-taking capability and a weaker screening technique by regional banks. We also observe differences in currency denomination, and the Japanese yen increases its presence in the second period.
credit is very important for business and economy. growth of economy depends on credit creation. commercial banks play an important role in it. but if it is uncontrolled then it can create fluctuations in economy. it can bring inflation or recession in economy.
in this PPT how commercial banks distribute loan and how it is affected by various factors are explained.
Volume of Deposits, A determinant of Total Long-term Loans Advanced by Commer...iosrjce
Commercial banks have exponentially increased their total loans advanced over the period 2002-
2013. However commercial banks in Kenya have shown varying long term lending behavior. The main objective
of this study was to establish the effect of determinants of long term lending in the Kenyan banking industry, a
case of Bungoma County. This study was guided by the following specific objective; to determine the effect of
volume of deposit on total loan advanced, of selected commercial banks in Kenya. The target population
comprised 13 commercial banks in Bungoma County with a sample size of 52 respondents. From the findings,
for every unit increase in volume of deposits, a 10.9%, unit increase in total loans advanced is predicted. The
model hypothesizes that there is functional relationship between the dependent variable and the independent
variable. The study then recommends that commercial banks should focus on mobilizing more deposits as this
will enhance their lending performance.
Creating Shareholder Value in Midcap BanksJohn Rickmeier
The mission of a bank is to operate a safe and sound financial institution, while creating shareholder value. The value of a bank, defined by the ratio of market value to common equity, most often is directly related to the return on equity (ROE) less the cost of equity capital (COE).
3 simple points to understand negative interest ratesFinMarket Guru
As you must have recently come across the news that BOJ (Bank of Japan) is moving towards negative interest rates.
So what is this all about? If you are from India, you might not have faced negative interest rates in your life. Infact, you must only be aware of the term – interest rate (which is by default positive)
So, let us understand this in 3 simple points...
Cryptocurrency Liquidity Increased Notably in 2018Boris Richard
Despite the 2018 slump in cryptocurrency prices, liquidity increased significantly last year across all major types of digital tokens compared to 2017.
Basel III - Implications of ImplementationDavid Kyson
This report has been commissioned to give an investigative insight into the implementation of Basel III; the implications of implementing, previous accords and also the impact this has on various systems and activities. It will explore the previous shortcomings of the accords, aswel as the new requirements. There will be a brief description on each topic as well as a sound, but critical analysis of the impact upon each of these, caused by Basel III. Topics include: Basel III, previous accords, Global Bank Lending and the Bank System.
It incorporates a variety of information sources to gain a broader understanding of viewpoints and effects, but will focus largely on Bank Behaviour in Response to Basel III: A Cross-Country Analysis by Thomas F. Cosimano and Dalia S. Hakura (2011).
International syndicated loans and regional banksMasaki Yamaguchi
This paper investigates regional bank participation in international syndicated loans, which attract significant attention from the banking industry. This topic has a remarkable importance for regional banks because overseas activities are related to their growth strategies. We pose two questions to illustrate the internationalization of regional banks. The first question explores differences in loan transactions between the first internationalization during 1992-1997 and the second internationalization during 2009-2014. The second question seeks to identify the types of loan transactions preferred by regional banks. We answer these questions by using a comparative analysis and Probit analysis of 23,387 transaction data. Activities of regional banks in the first period overwhelm that of the second period. The first internationalization was characterized by a broad base of participant banks. Estimation results demonstrated similarities in the lending behavior of regional banks between the two periods. Smaller loan amounts, larger syndicates, and loan purposes for ordinary business facilitate regional bank participation in syndicated loans. These preferences reflect limited risk-taking capability and a weaker screening technique by regional banks. We also observe differences in currency denomination, and the Japanese yen increases its presence in the second period.
6- What's Old is New: Fixed-Rate Bonds are Back in Style- Catherine CrewsMassDevelopment
An overview of what the bond market is today, how it got hwere, and where it's headed in the future by Catehrine Crews of Bankof America Merrill Lynch.
Kang Tae Soo -- Riksbank Macroprudential Conference Stockholm, Sweden, Nove...Macropru Reader
Kang Tae Soo -- Riksbank Macroprudential Conference Stockholm, Sweden, November 2014
....
http://www.riksbank.se/en/Financial-stability/Macroprudential-Policy-Conference-November-2014/
Macroprudential Policy Conference, November 2014
Sveriges Riksbank and the International Monetary Fund are jointly hosting the conference Macroprudential Policy - Implementation and Interaction with other Policies in Stockholm on 13-14 November.
The conference will bring together representatives of national authorities and international organizations to share their knowledge and experience in the evolving field of macroprudential policy.
The financial crisis showed that ensuring the health of individual components of the financial system is not sufficient to guarantee overall financial stability. Macroprudential policy recognizes the importance of systemic risk and the need to develop regulations that address systemic risk and help to build resilience in the entire financial system.
Bond Valuation, Bond Types, Bond Characteristics, Reasons for issuing Bonds, Bond Risks, Bond Measuring Yield, Bond Pricing Theorems, Factors that Influence Bond Prices, Primary Bond Market, Secondary Bond Market, Bonds in Nepal.
For Videos use the links below
0 Course Introduction:: https://www.youtube.com/watch?v=9km4aXTus5c
1 Financial system and Environment : https://www.youtube.com/watch?v=BC2bAftm43c
2 Participants in a Financial System: https://www.youtube.com/watch?v=IEv_y7_aR7o
3 Functions of a Financial System: https://www.youtube.com/watch?v=T73-Dd8RM4I
4 Financial System and its components: https://www.youtube.com/watch?v=ovkAjEO8YAw
5 Efficiency of a financial system: https://www.youtube.com/watch?v=8xEUtvKYvPc
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
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when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
NO1 Uk Black Magic Specialist Expert In Sahiwal, Okara, Hafizabad, Mandi Bah...Amil Baba Dawood bangali
Contact with Dawood Bhai Just call on +92322-6382012 and we'll help you. We'll solve all your problems within 12 to 24 hours and with 101% guarantee and with astrology systematic. If you want to take any personal or professional advice then also you can call us on +92322-6382012 , ONLINE LOVE PROBLEM & Other all types of Daily Life Problem's.Then CALL or WHATSAPP us on +92322-6382012 and Get all these problems solutions here by Amil Baba DAWOOD BANGALI
#vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore#blackmagicformarriage #aamilbaba #kalajadu #kalailam #taweez #wazifaexpert #jadumantar #vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore #blackmagicforlove #blackmagicformarriage #aamilbaba #kalajadu #kalailam #taweez #wazifaexpert #jadumantar #vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore #Amilbabainuk #amilbabainspain #amilbabaindubai #Amilbabainnorway #amilbabainkrachi #amilbabainlahore #amilbabaingujranwalan #amilbabainislamabad
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
Latino Buying Power - May 2024 Presentation for Latino CaucusDanay Escanaverino
Unlock the potential of Latino Buying Power with this in-depth SlideShare presentation. Explore how the Latino consumer market is transforming the American economy, driven by their significant buying power, entrepreneurial contributions, and growing influence across various sectors.
**Key Sections Covered:**
1. **Economic Impact:** Understand the profound economic impact of Latino consumers on the U.S. economy. Discover how their increasing purchasing power is fueling growth in key industries and contributing to national economic prosperity.
2. **Buying Power:** Dive into detailed analyses of Latino buying power, including its growth trends, key drivers, and projections for the future. Learn how this influential group’s spending habits are shaping market dynamics and creating opportunities for businesses.
3. **Entrepreneurial Contributions:** Explore the entrepreneurial spirit within the Latino community. Examine how Latino-owned businesses are thriving and contributing to job creation, innovation, and economic diversification.
4. **Workforce Statistics:** Gain insights into the role of Latino workers in the American labor market. Review statistics on employment rates, occupational distribution, and the economic contributions of Latino professionals across various industries.
5. **Media Consumption:** Understand the media consumption habits of Latino audiences. Discover their preferences for digital platforms, television, radio, and social media. Learn how these consumption patterns are influencing advertising strategies and media content.
6. **Education:** Examine the educational achievements and challenges within the Latino community. Review statistics on enrollment, graduation rates, and fields of study. Understand the implications of education on economic mobility and workforce readiness.
7. **Home Ownership:** Explore trends in Latino home ownership. Understand the factors driving home buying decisions, the challenges faced by Latino homeowners, and the impact of home ownership on community stability and economic growth.
This SlideShare provides valuable insights for marketers, business owners, policymakers, and anyone interested in the economic influence of the Latino community. By understanding the various facets of Latino buying power, you can effectively engage with this dynamic and growing market segment.
Equip yourself with the knowledge to leverage Latino buying power, tap into their entrepreneurial spirit, and connect with their unique cultural and consumer preferences. Drive your business success by embracing the economic potential of Latino consumers.
**Keywords:** Latino buying power, economic impact, entrepreneurial contributions, workforce statistics, media consumption, education, home ownership, Latino market, Hispanic buying power, Latino purchasing power.
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
Participation of Japanese regional Banks in International Syndicated Loans
1. Participation of Japanese regional Banks in
International Syndicated Loans: Lending
behavior and explanatory factors
Masaki YAMAGUCHI
Yamagata University
Annual Tokyo Business Research Conference,
Waseda University, 15-16 December, 2014
2. Motivation
• Hot issue – international syndicated loans
• Gunma Bank – 10 billion yen buildup by the end of FY2013
• Hyakugo Bank – 55 billion yen buildup by the end of FY2015
• Chiba Bank – 20% increase of foreign currency loans by the end of FY2017
• Growth strategies of regional banks
• Loan demand cannot be expected to increase amid fierce competition in
shrinking regional economies
• Participation in syndicated loans could serve as a new source of profits for
regional banks
5. Related literature
• Type 1: Decision of syndication
• Influencing factors on decision whether set up a syndicate or not
• binary-choice model, Syndicate = F (Information, Agency, Loan term)
• Dennis and Mullineaux (2000), Godlewski and Weil (2008)
• Type2: Size of a syndicate
• what factors affect the syndicate structure
• count data model, Size = F (Opaque, Loan Characteristics)
• Lee and Mullineaux (2004) , Sufi (2007)
6. Related literature
• Type 3 : Difference in lending behavior
• Difference between bank types
• Model; Spread = F (loan terms, bank types)
• Haselmann and Wachtel (2011), Harjoto, Mullineaux, and Yi (2006)
• Position of this study
• close to the first type
• different in research object ; regional banks
7. Data Source
• Thomson Reuter – DealScan: Loan Database
• Sample: 10,907 deals, Japanese banks participated
• Period: 2009 – Sep. 2014
• Location: All over the world
Japanese banks
Regional banks
8. League Table: 2009 – Sep. 2014
Bank Name
Number of
Deals
Bank Name
Number of
Deals
Bank Name
Number of
Deals
Chiba 80 Fukuoka 4 Kinki Osaka 1
Hachijuni 32 Oita 3 Hokkoku 1
Yamaguchi 26 Hyakujushi 3 Fukui 1
Chugoku 24 Ogaki Kyoritsu 3 Kyoto 1
Shizuoka 18 Tsukuba 3 Hokuto 1
Gunma 16 Akita 3 Shonai 1
Yokohama 12 Higashi-Nippon 2 Michinoku 1
Hiroshima 12 Toho 2 Nishi-Nippon 1
Minato 12 Joyo 2 Aomori 1
Iyo 5 Higo 2 Shiga 1
77 5 Daishi 1 Ashikaga 1
Hyakugo 4 Dasan 1 Keiyo 1
9. Borrower Country
Borrower
country
Number of
Deals
Borrower
country
Number of
Deals
USA 61 UK 5
Korea 17 Vietnam 4
China 12 Sweden 3
India 12 Chile 2
Panama 11 Malaysia 1
HK 10 UAE 1
Thailand 9 Cayman 1
Indonesia 9 Netherland 1
Singapore 8 Brazil 1
Australia 7 Belgium 1
Liberia 6 Canada 1
Mexico 5 Philippines 1
・US takes the top borrower nationality
・83 borrowers from Asian countries
Hypothesis 1: Asian nationality
enhances the possibility of regional
banks participation
Geographical proximity reduces
information asymmetry
10. Currency
Currency
Number of
Deals
Percentage
USD 108 57.1
JPY 61 32.3
CNY 5 2.6
HKD 4 2.1
US Equiv 4 2.1
AUD 3 1.6
Multi 2 1.1
CAD 1 0.5
Euro 1 0.5
・Large share of USD can be partly
explained by the borrower nationality
・Hypothesis 2: regional banks prefer to
syndicated loans denominated in JPY
Most regional banks have difficulty with
funding USD
11. Purpose
Purpose
Number of
Deals
Percentage
Corporate purposes 81 42.9
Working capital 43 22.8
Debt Repay 21 11.1
Ship finance 15 7.9
Capital expend 13 6.9
Project finance 6 3.2
CP backup 3 1.6
Takeover 3 1.6
Equip. Purch. 2 1.1
Aircraft 1 0.5
Security Purchase 1 0.5
・Top three loan purposes account for
76.8%
・Capital expenditures, project financing,
equipment purchases….
difficult to measure the success and
failure of long-term projects
・Hypothesis 3: Regional banks avoid
taking on such risks
12. Analysis 1 :Comparison
Participation Non-Participation
Means Sample Means Sample
Loan Size (millions) 355 189 679 10717 0.00
Maturity (years) 4.98 187 4.59 10471 0.04
Number of lenders 10.8 189 11.5 10703 0.00
Regional Bank Regional Bank
U test
Regional banks prefer smaller loans
13. Participation N on-Participation
N Ratio (%) N Ratio(%)
0 128 10617
1 61 101
0 81 2942
1 108 7776
0 146 10119
1 43 599
0 108 4789
1 81 5929
0 95 5204
1 94 5514
0 162 9686
1 27 1032
0 108 9578
1 81 1140
0 120 9735
1 69 983
RegionalB ank RegionalB ank
χ2
test
JPY 32.3 0.9 0.00
U SD 57.1 72.6 0.00
W orking C apital 22.8 5.6 0.00
C orp.Purpose 42.9 55.3 0.00
Rating 49.7 51.4 0.64
Financial 36.5 0.0 0.00
G uarantor 14.3 9.6 0.03
Asia 42.9 10.6 0.00
14. Analysis 2: Probit model
Expalined variable Explanatory variables
Regional banks’ participation ← - Loan Character
1 or 0 log(amount), maturity, rating
currency, guarantor
- Loan Purpose
working capital, corp. purpose
- Borrower Character
country, industry
15. M odel1 M odel2 M odel3 M odel4 M odel5
LAO M O U N T -0.123**
-0.123**
-0.124**
-0.084**
-0.082**
(0.026) (0.026) (0.026) (0.028) (0.029)
M ATU RITY -0.003 0.009 0.008 0.013 0.031**
(0.011) (0.011) (0.011) (0.011) (0.011)
RATE 0.155*
0.144 0.161*
0.300**
0.217**
(0.073) (0.074) (0.075) (0.081) (0.083)
JPY 1.924**
1.844**
1.864**
1.847**
1.835**
(0.115) (0.116) (0.117) (0.118) (0.12)
N U M B ER 0.013**
0.015**
0.015**
0.013**
0.014**
(0.003) (0.003) (0.003) (0.003) (0.003)
C O RP. -0.072
(0.068)
W O RKIN G 0.525**
0.503**
0.434**
0.407**
(0.097) (0.097) (0.099) (0.102)
G U ARAN TO R 0.197**
0.006
(0.096) (0.103)
ASIA 0.754**
0.663**
(0.081) (0.083)
FIN AN C IAL 0.624**
(0.083)
C O N ST -0.072 -0.222 -0.233 -1.230*
-1.423**
(0.482) (0.483) (0.483) (0.527) (0.552)
Sam ple 10643 10643 10643 10643 10643
Pseudo R 2 0.173 0.187 0.189 0.233 0.264
16. Summary of results
• Smaller loans, JPY preference ← funding problem for foreign currencies
• WORKING ← lower risk of project
• ASIA, RATE ← smaller information asymmetry
• Financial ← implicit guarantee
• IFRS Bank ← human resources for overseas transactions
17. Explanatory variable Marginal effect Explanatory variable Marginal effect
LAOMOUNT -0.001 NUMBER 0.000
MATURITY 0.001 WORKING 0.014
RATE 0.004 ASIA 0.027
JPY 0.262 FINANCIAL 0.024
・JPY produces the greatest effect on the probability of
participation
・ASIA and FINANCIAL have the next strongest marginal
effects
Editor's Notes
0.5 m
1.3 m
0.4m
0.5 m ここまで3分弱
First the rankings of regional banks based on the number of deals
large differences in the participation of regional banks
14 regional banks, accounting for 38%
participated in only one transaction in almost six years
Regional banks in red: subject to uniform international standards
advantage in syndicated loan participation due to accumulated international business expetise
second
We finish overview characteristics of loan transactions involving regional banks.
divide loan transactions into two groups. Whether regional banks participated or not
Comparison results about continuous variables
The differences in the loan amounts are sufficiently large. This result can be regarded as economically significant.
Regional banks prefer smaller loans.
Other two variables: statistically significant, but differences are small. Can not find economic meanings.
Results about dummy variables
Result of JPY supports hypothesis No.2. difference in JPY is more striking.
regional banks are inclined to participate in loans denominated in JPY
As for loan purposes, PARTICIPATION shows a larger share of working capital and
this result partially support hypothesis No.3
Borrower characteristics, Asian borrower, financial service industry
remarkable differences: in loan amounts, currencies, purposes, and borrower characteristics
Next, investigate while simultaneously controlling for several variables
Pick up major results
Amount: negative sign, smaller loan
JPY: positive coefficient, facilitate participation
WORKING: easy evaluation credit risk, ordinary business
RATE, ASIA: mitigate information problem, additional information, familiar name
Financial: implicit guarantee, bailed out under the “too big to fail” principle
I’d like to summarize the main findings of this study.
Possible extension: 1st and 2nd internationalization
That’s it. Thank you for your attention!