The Resource Reforming Collateral Laws to Expand Access to Finance

Reforming Collateral Laws to Expand Access to Finance

Label
Reforming Collateral Laws to Expand Access to Finance
Title
Reforming Collateral Laws to Expand Access to Finance
Creator
Contributor
Subject
Genre
Language
eng
Summary
Most readers, especially those with car loans or home mortgages, know about "collateral"--property that the lender can take away from the borrower in the event that the borrower defaults. In low/middle income countries, it is understood that conservative lenders exclude firms from credit markets with their excessive collateral requirements. Usually, this is because only some property is acceptable as collateral: large holdings of urban real estate and, sometimes, new motor vehicles. Microenterprises, SMEs, and the poor have little of this property but they do have an array of productive assets that could easily be harnessed to serve as collateral. It is only the legal framework which prevents firms from using these assets to secure loans. In countries with reformed laws governing collateral, property such as equipment, inventory, accounts receivable, livestock are considered excellent collateral. This book aims to better equip project managers to implement reforms to the legal and institutional framework for collateral (secured transactions). It discusses the importance of movable property as a source of collateral for firms, the relationship between the legal framework governing movable assets and the financial sector consequences for firms (better loan terms, increased access, more competitive financial sector), and how reforms can be put in place to change the lending environment
Cataloging source
MiAaPQ
http://library.link/vocab/creatorName
Fleisig, Heywood W
Dewey number
  • 000
  • 658.15224
LC call number
K1100 -- .F54 2006eb
Literary form
non fiction
Nature of contents
dictionaries
http://library.link/vocab/relatedWorkOrContributorName
  • Safavian, Mehnaz
  • Peña, Nuria de la
  • Peña, Nuria de la
http://library.link/vocab/subjectName
  • Law reform
  • Security (Law)
  • Security (Law) -- Economic aspects
  • Security (Law) -- United States
Label
Reforming Collateral Laws to Expand Access to Finance
Link
https://ebookcentral.proquest.com/lib/oulaw/detail.action?docID=459452
Instantiates
Publication
Copyright
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Color
multicolored
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Contents
  • CONTENTS -- Acknowledgments -- INTRODUCTION -- What the book aims to do -- How the World Bank has supported reform -- CHAPTER 1. WHY COLLATERAL MATTERS -- Borrowers typically face requirements for collateral -- Loans secured by collateral have better terms -- Most enterprises have productive assets-but can't use them as collateral -- CHAPTER 2. HOW COLLATERAL REFORM CAN SUPPORT OTHER IMPORTANT REFORMS AND INITIATIVES -- Broadening the effect of macroeconomic reform -- Supporting the objectives of reform of bank supervision and regulation -- Fostering capital market development -- Shoring up state loan and guarantee programs -- Allowing the growth of financial leasing -- Supporting judicial reform -- Reinforcing the strengths of microfinance institutions -- CHAPTER 3. THE ECONOMIC CONSEQUENCES OF OBSOLETE SYSTEMS FOR SECURED TRANSACTIONS -- Creation: problems that exclude goods, agents, and transactions -- Limits on who can be a party to a security agreement -- Limits on coverage of goods and transactions -- Limits on using a general description of collateral or a floating security interest -- Limits on creating a security interest in after-acquired collateral or after-created debt -- Priority: problems that undermine lenders' security -- No priority rules for future advances -- Limits on the continuation in proceeds and products of a security interest -- Limits on creating security interests in fixtures -- Hidden tax liabilities and superpriority for the state -- Divided registration systems that cause conflicts in priority rules -- Publicity: problems that hamper filing or retrieval of records of security interests -- Restrictions on access to registry records -- Requirement for inspection of documents -- Requirement for filing documents rather than simply notices -- Multiple and unlinked registries -- Lack of advance filing and blocking
  • High fees for filing -- No Internet-based systems for filing or information retrieval -- Uncompetitive supply of registry services -- Enforcement: problems that prevent rapid seizure and sale of collateral -- Court-administered sales -- Homestead and exempt property provisions -- Delay caused by bankruptcy procedures -- Annex 3.1 Features of reformed and unreformed systems for secured transactions -- CHAPTER 4. DETERMINING THE CONTENT OF THE REFORM -- Covering the detail -- Shaping the architecture -- Creation -- Priority -- Publicity -- Enforcement -- Derogating conflicting laws -- CHAPTER 5. IMPLEMENTING THE REFORM -- Carrying out the diagnostic study -- Initial legal assessment -- Field interviews -- Data -- Preparing and presenting the draft law -- Timing of presentation -- Drafting committee -- Commentaries -- The filing archive -- Building public awareness and mobilizing support -- Private lenders and sellers on credit -- Debtors and borrowers -- The government -- Lawyers and notaries -- The legislature -- The central bank or superintendent of banks -- Weighing when to compromise -- CHAPTER 6. MONITORING AND EVALUATING THE REFORM -- Measuring economic gain using model-based indicators -- Measuring gains using data from filing archives -- Assessing access to credit using Enterprise Survey data -- Assessing lenders' transaction costs using Doing Business indicators -- APPENDIX. RESOURCES
Dimensions
unknown
Extent
1 online resource (120 pages)
Form of item
online
Isbn
9780821364918
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Note
Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2019. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.
Sound
unknown sound
Specific material designation
remote
System control number
  • (MiAaPQ)EBC459452
  • (Au-PeEL)EBL459452
  • (CaPaEBR)ebr10137774
  • (CaONFJC)MIL1143589
  • (OCoLC)507512695
Label
Reforming Collateral Laws to Expand Access to Finance
Link
https://ebookcentral.proquest.com/lib/oulaw/detail.action?docID=459452
Publication
Copyright
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Color
multicolored
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Contents
  • CONTENTS -- Acknowledgments -- INTRODUCTION -- What the book aims to do -- How the World Bank has supported reform -- CHAPTER 1. WHY COLLATERAL MATTERS -- Borrowers typically face requirements for collateral -- Loans secured by collateral have better terms -- Most enterprises have productive assets-but can't use them as collateral -- CHAPTER 2. HOW COLLATERAL REFORM CAN SUPPORT OTHER IMPORTANT REFORMS AND INITIATIVES -- Broadening the effect of macroeconomic reform -- Supporting the objectives of reform of bank supervision and regulation -- Fostering capital market development -- Shoring up state loan and guarantee programs -- Allowing the growth of financial leasing -- Supporting judicial reform -- Reinforcing the strengths of microfinance institutions -- CHAPTER 3. THE ECONOMIC CONSEQUENCES OF OBSOLETE SYSTEMS FOR SECURED TRANSACTIONS -- Creation: problems that exclude goods, agents, and transactions -- Limits on who can be a party to a security agreement -- Limits on coverage of goods and transactions -- Limits on using a general description of collateral or a floating security interest -- Limits on creating a security interest in after-acquired collateral or after-created debt -- Priority: problems that undermine lenders' security -- No priority rules for future advances -- Limits on the continuation in proceeds and products of a security interest -- Limits on creating security interests in fixtures -- Hidden tax liabilities and superpriority for the state -- Divided registration systems that cause conflicts in priority rules -- Publicity: problems that hamper filing or retrieval of records of security interests -- Restrictions on access to registry records -- Requirement for inspection of documents -- Requirement for filing documents rather than simply notices -- Multiple and unlinked registries -- Lack of advance filing and blocking
  • High fees for filing -- No Internet-based systems for filing or information retrieval -- Uncompetitive supply of registry services -- Enforcement: problems that prevent rapid seizure and sale of collateral -- Court-administered sales -- Homestead and exempt property provisions -- Delay caused by bankruptcy procedures -- Annex 3.1 Features of reformed and unreformed systems for secured transactions -- CHAPTER 4. DETERMINING THE CONTENT OF THE REFORM -- Covering the detail -- Shaping the architecture -- Creation -- Priority -- Publicity -- Enforcement -- Derogating conflicting laws -- CHAPTER 5. IMPLEMENTING THE REFORM -- Carrying out the diagnostic study -- Initial legal assessment -- Field interviews -- Data -- Preparing and presenting the draft law -- Timing of presentation -- Drafting committee -- Commentaries -- The filing archive -- Building public awareness and mobilizing support -- Private lenders and sellers on credit -- Debtors and borrowers -- The government -- Lawyers and notaries -- The legislature -- The central bank or superintendent of banks -- Weighing when to compromise -- CHAPTER 6. MONITORING AND EVALUATING THE REFORM -- Measuring economic gain using model-based indicators -- Measuring gains using data from filing archives -- Assessing access to credit using Enterprise Survey data -- Assessing lenders' transaction costs using Doing Business indicators -- APPENDIX. RESOURCES
Dimensions
unknown
Extent
1 online resource (120 pages)
Form of item
online
Isbn
9780821364918
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Note
Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2019. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.
Sound
unknown sound
Specific material designation
remote
System control number
  • (MiAaPQ)EBC459452
  • (Au-PeEL)EBL459452
  • (CaPaEBR)ebr10137774
  • (CaONFJC)MIL1143589
  • (OCoLC)507512695

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