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1、外文題目:THREETRENDSARERESHAPINGAUTOFINANCE出處:ABABANKINGJOURNALFEB97作者:anonymous原文:THREETRENDSARERESHAPINGAUTOFINANCEInautomotivefinance,twoimportanttrendsappearwell-establishedandpoisedforfurtheradvancesin1997:Morenon-primeorsub-primelending.Moreleasing
2、.Athirdmovement,whichmayormaynotamounttoamajortrend,istheadventofused-carsuperstoresgearedtohigh-volumeselling.SUB-PRIME--NEARLYMAINSTREAMAwell-knowneconomistwhotracksautomobilesalespredictedatyear-endthatsome1.1millionhouseholdswillhavedeclaredbankr
3、uptcyin1996."That'snotallbad,"hesaid."Itmeans1.1millionmoresubprimeborrowers."Perhapshewasbeingfacetious,orperhapsnot.Thefactis,non-primeorsub-primeautolendingisnolongerlookeduponasanexpedienttoberesortedtoonlyinextremecases.Dependingonthedefinition,
4、estimatesofthismarketplacerangebetween$70billionand$90billion,andclearlyitiscomingclosertothemainstreamasanalternativeborrowingtechniqueforasizableproportionofthepopulation.Thereasonsarebluntlydemographic:divorce,highmedicalexpenses,andcorporatedowns
5、izingleadingtojoblossesareamongtheprincipalfactorsthathavehurtthecreditstandingofhundredsofthousandsofpotentialborrowers.Someareforcedintobankruptcy,whileothersmanagetoavoiditbutseetheirhouseholdbudgetsseverelystrained.Figuresonconsumerloandelinquenc
6、iesarerunninghigh.Largenumbersofwould-beborrowersmaybebadlystretched,buttheystillneedpersonaltransportation,andwillgotoconsiderablelengthstoobtainfinancing.Thatmakesthemlogicalcandidatesforsub-primelending.Bydefinition,thesearehigher-riskborrowers,bu
7、titdoesnotautomaticallyfollowthattheyareallpoorcreditrisks.Manyareanxiousforachancetogetonasolidfootingandreestablishthemselvesasgoodcreditrisks.Lendersincreasinglyrecognizethis.Asonespecialistputit,"Welendtothosewhoneedasecondchance,notalastchance."
8、Forlenders,thescreeningprocessiscrucial.Banksandfinancecompanieshavelongexperiencewithcreditcardandotherconsumerlending,andinrecentyears,thetendencyhasbeentousecomputerizedcreditscoringtosegmentdifferentcategoriesofcreditrisk,thenassigndifferentrates