the credit portfolio management and the optimal credit portfolio selection are identified as one of the most effective factors in banks’ credit risk. two main strategies in this regard include diversification versus concentration. in this study, at first, the status of diversification of iran’s banking sector is analyzed, then the relationship between diversification of the credit portfolio and...

the letter of credit as a method of smoothing international payment is a conditional security and obligation to pay the customer bank (issuing bank) to seller (applicant). for this purpose, the letters of credit may be considered as the most usual method of payment of goods price in international trade. the classic form of letters of credit is the commercial letters of credit whose financial ob...

This thesis consists of three empirical essays in financial economics, examining the consequences of imperfect financial markets for households, small business and house prices. In the first chapter (co-authored with Meta Brown and Brandi Coates) we explore the effect of personal bankruptcy laws on household debt. Personal bankruptcy laws in the US, and many other countries, protect a fraction ...

1 Background Credit cards have been widely used in the USA. The industry has matured so much that most households hold many credit cards and most consumers use credit cards as means of payment. They usually maintain their records on credit cards. In the USA, a total amount of credit card balances is about $700 billion. Because of the wide usage of credit cards, the term of cards is becoming a m...

www.philadelphiafed.org R eports in the popular press and policymakers’ concerns about student loans have greatly intensified in recent years because of rising student loan balances and defaults. Even greater cause for concern arose as student loans outstanding passed credit card debt to become the single largest nonmortgage household debt in 2012. Worries about the risk of massive default have...