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1、外文翻譯Bankingsupervisionandnonperformingloans:across-countryanalysisMaterialSource:JournalofFinancialEconomicPolicyVOl.1No.4,2009.Author:Abd-el-KaderBourikas,NeilBouillonTacticandSanaJealouslyDEFI,UniversityofTunis,Montclair,TunisiaIntroductionAfterarelativelycalmdec
2、ade,theinternationalbankingindustrysufferedduringthelastthreeyearsanunprecedentedmeltdown.Severalbanksthroughouttheworld,includingindevelopedanddevelopingcountries,experiencedseverelossesontheircreditportfoliosleadingtobanksfailuresandtoaglobalfearofasystemiccrisis
3、.Thiscrisisraisedfurtherconcernsaboutfinancialsystemsstabilityandtheneedforaclosercontrolandsupervisiononlendingactivitiesandinstitutions.Inparticular, internationalregulators(IMF, WorldBank,andtheBIS)engaged,overthelastdecade,severalreforms,andprogramsaimingtostre
4、ngthenbankingandfinancialsystemsin differentcountries.Variousassessmentsareperiodicallymadetotimelypredictany undesirableexposure.Specifically,theaggregaterateofnonperformingloans(NPLs)iscommonlyusedasasoundnessindicator.Bankindustryfactors,supervisionandNPLs:liter
5、aturereviewandhypothesisdevelopmentTheempiricalliteratureonNPLsexplainsbanksproblemloansusingbankspecificorinternalvariables.Thesebank-specificfactorsarerelatedtobankmanagementandfirm-levelfeatureswhichincludeproxiesofbankcapitalization,provisioningpolicy,profitabi
6、lity,ownershipstatus,andindustryconcentration.Bankcapitalization.Theoretically,thecapitaladequacyratio(CAR)mightserveasatooltocontrolexcessiverisktakingbybanksandtopreventthemfrombeinginsolventthroughrecapitalization(Baselaccord).BankswithCARlessthantheregulatorymi
7、nimumareforcedtoadjusttheirbalancesheettocomplywiththererequirementseitherbyraisingmorecapital(holdingassetsconstant)orreducingrisk-weightedassets(holdingcapitalconstant).Infact,raisingthelevelofcapitalrelativetoriskyassetsbyeithermeanscouldhaveabeneficialimpactont
8、hebankperformanceandsoundness(Friesetal.,2002).Indeed,KoehnandSantomero(1980)showtheoreticallythattheportfolioriskincreaseswiththeincreaseofthemi