The Asian Bond Bank: A good idea for credit enhancement

The rate of interest paid by borrowers is dependent upon the structure of the loan and the creditworthiness of the borrower. The structure of the loan is often determined endogenously, whereas the credit rating tends to be determined exogenously. Several methods of enhancing credit ratings exist. Th...

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Bibliographische Detailangaben
Hauptverfasser:	S. Ghon Rhee, Gregory R. Stone
Format:	Buchkapitel
Sprache:	eng
Schlagworte:	Accountancy Bank credit Bank loans Banking Banks Bond issues Bond management Business Credit Credit ratings Debt Economic disciplines Economics Finance Financial accounting Financial bonds Financial economics Financial instruments Financial liabilities Financial securities Government bonds Loans Municipal bonds Revenue bonds Taxable bonds
Online-Zugang:	Volltext
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Beschreibung
Zusammenfassung:	The rate of interest paid by borrowers is dependent upon the structure of the loan and the creditworthiness of the borrower. The structure of the loan is often determined endogenously, whereas the credit rating tends to be determined exogenously. Several methods of enhancing credit ratings exist. This chapter discusses one of the most frequently overlooked methods, the bond bank. Municipal bond banks first appeared in Canada in 1956 and in the United States in 1970 for the express purpose of lowering the cost of debt for municipalities. Since that time, municipal bond banks have been offering a unique and advantageous