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\listoverridecount0\ls49}{\listoverride\listid50\listoverridecount0\ls50}{\listoverride\listid51\listoverridecount0\ls51}}{\info{\title ACADEMIA DE STUDII ECONOMICE}{\author  }{\operator DVD}{\creatim\yr2002\mo4\dy20\hr22\min20}
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\fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\b\f42 
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\par RISCUL IN ACTIVITATEA DE CREDITARE
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\par CUPRINS
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\par 1. Creditarea, parte componenta de baza a tehnicii si operatiunilor bancare.
\par {\listtext\pard\plain\fs22 \hich\af0\dbch\af0\loch\f0 1.1\tab}}\pard \qj \fi-283\li351\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\ls1\ilvl1\adjustright\rin0\lin351\itap0 {\fs22 
Necesitatea diversificarii operatiunilor, tehnicilor, produselor si serviciilor bancare.\tab \tab \tab \tab \tab \tab \tab Pag.   3
\par {\listtext\pard\plain\fs22\lang1036\langfe1033\langnp1036 \hich\af0\dbch\af0\loch\f0 1.2\tab}}{\fs22\lang1036\langfe1033\langnp1036 Principiile activitatii de creditare.\tab \tab \tab \tab \tab Pag.   }{\fs22 9
\par {\listtext\pard\plain\fs22 \hich\af0\dbch\af0\loch\f0 1.3\tab}Creditarea agentilor economici.\tab \tab \tab \tab \tab Pag. 10
\par }\pard \qj \li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\fs22 
\par 2. Riscurile bancare si gestiunea lor
\par {\listtext\pard\plain\fs22 \hich\af0\dbch\af0\loch\f0 2.1\tab}}\pard \qj \fi-283\li351\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\ls2\ilvl1\adjustright\rin0\lin351\itap0 {\fs22 Definirea riscurilor bancare\tab \tab \tab \tab \tab \tab Pag.  13
\par {\listtext\pard\plain\fs22 \hich\af0\dbch\af0\loch\f0 2.2\tab}Importanta gestiunii riscurilor bancare.\tab \tab \tab \tab Pag.  14
\par }\pard \qj \li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\fs22 
\par 3.Riscul in activitatea de creditare
\par {\listtext\pard\plain\fs22\lang1036\langfe1033\langnp1036 \hich\af0\dbch\af0\loch\f0 3.1\tab}}\pard \qj \fi-283\li351\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\ls3\ilvl1\adjustright\rin0\lin351\itap0 {\fs22\lang1036\langfe1033\langnp1036 
Rolul calitatii portofoliului de credite bancare\tab \tab \tab Pag.  }{\fs22 17
\par {\listtext\pard\plain\fs22 \hich\af0\dbch\af0\loch\f0 3.2\tab}Politica de creditare\tab \tab \tab \tab \tab \tab \tab Pag.  18
\par {\listtext\pard\plain\fs22 \hich\af0\dbch\af0\loch\f0 3.3\tab}Riscul individual de creditare\tab \tab \tab \tab \tab Pag.  24
\par {\listtext\pard\plain\fs22\lang1036\langfe1033\langnp1036 \hich\af0\dbch\af0\loch\f0 3.4\tab}}{\fs22\lang1036\langfe1033\langnp1036 Gestiunea riscului de credit global\tab \tab \tab \tab \tab Pag.  }{\fs22 40
\par }\pard \qj \li283\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin283\itap0 {\fs22 
\par {\listtext\pard\plain\fs22 \hich\af0\dbch\af0\loch\f0 4.\tab}}\pard \qj \fi-283\li283\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\ls4\adjustright\rin0\lin283\itap0 {\fs22 Operatiuni bancare privind garantia creditelor
\par {\listtext\pard\plain\fs22 \hich\af0\dbch\af0\loch\f0 4.1\tab}}\pard \qj \fi-283\li351\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\ls5\ilvl1\adjustright\rin0\lin351\itap0 {\fs22 Evaluarea riscului in activitatea de creditare\tab \tab \tab Pag.  46 
\par {\listtext\pard\plain\fs22 \hich\af0\dbch\af0\loch\f0 4.2\tab}Determinarea formelor de garantie a creditelor\tab \tab \tab Pag.  49
\par {\listtext\pard\plain\fs22 \hich\af0\dbch\af0\loch\f0 4.3\tab}Garantii reale\tab \tab \tab \tab \tab \tab \tab \tab Pag.  50
\par {\listtext\pard\plain\fs22 \hich\af0\dbch\af0\loch\f0 4.4\tab}Garantii personale\tab \tab \tab \tab \tab \tab \tab Pag.  52 
\par {\listtext\pard\plain\fs22 \hich\af0\dbch\af0\loch\f0 4.5\tab}Alte garantii\tab \tab \tab \tab \tab \tab \tab \tab Pag.  53
\par {\listtext\pard\plain\fs22 \hich\af0\dbch\af0\loch\f0 4.6\tab}Asigurarea activelor imprumutatilor constituite 
\par }\pard \qj \li351\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin351\itap0 {\fs22 garantie a creditelor\tab \tab \tab \tab \tab \tab \tab Pag.  54
\par }\pard \qj \li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\fs22 
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\par }\pard \qc \li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\fs22 \page }{\b\fs22 Capitolul 1.
\par  }{\b\scaps\fs22 Creditarea, parte componenta de baza 
\par a tehnicii si operatiunilor bancare
\par }\pard \qj \li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\fs22 
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\par {\listtext\pard\plain\b\fs22 \hich\af0\dbch\af0\loch\f0 1.1\tab}}\pard \qc \fi-283\li1063\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\ls6\ilvl1\adjustright\rin0\lin1063\itap0 {\b\fs22 
Necesitatea diversificarii operatiunilor, tehnicilor, produselor si serviciilor bancare
\par }\pard \qj \fi712\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\b\fs22 
\par }{\fs22\lang1036\langfe1033\langnp1036 
Bancile comerciale constituite in Romania dupa 1989 sunt societati pe actiuni si au caracter universal adica realizeaza toate produsele si serviciile bancare pentru toate ramurile, sectoarele si segmentele economiei nationale. Nu mai exista deci banci ing
ust specializate. Cel putin in aceasta perioada de trenzitie. De exemplu, inainte de cel de-al doilea razboi mondial specializarea ajunsese asa de departe in sectorul bancar incat existau banci organizate special pentru credite ipotecare. 
\par }{\fs22 Este necesara in aceasta perioada diversificarea cat mai mare a bancilor, serviciilor si produselor lor din urmatoarele motive:
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'95\tab}}\pard \qj \fi-283\li566\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\ls7\ilvl1\adjustright\rin0\lin566\itap0 {\fs22 concurenta altor banci
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'95\tab}}{\fs22\lang1036\langfe1033\langnp1036 nevoia de apropiere a bancilor de agentii economici serviti
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'95\tab}}{\fs22 diversificarea atributiilor si rolul bancilor in economia de piata
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'95\tab}diversificarea activitatilor economice in economia de piata in comparatie cu limitarea sectoarelor economice existente inainte de 1990
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'95\tab}gasirea unor noi forme de atragere a resurselor banesti necesare bancilor comerciale
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'95\tab}diversificarea plasamentelor
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'95\tab}}{\fs22\lang1036\langfe1033\langnp1036 constituirea, dezvoltarea si consolidarea bursei de valori
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'95\tab}participarea bancilor comercile la constituirea capitalului social al unor societati comerciale
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'95\tab}participarea bancilor comerciale romanesti la circuitul mondial al informatiei bancar
e (SWIFT banci corespondente, participarea la tranzactii financiar-valutare internationale)
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'95\tab}platile interne si internationale au fost diversificate
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'95\tab}}{\fs22 cibernetizarea informatiei
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'95\tab}}{\fs22\lang1036\langfe1033\langnp1036 sporirea participarii bancilor la viata economica si sociala a tarii
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'95\tab}utilizarea publicitatii ca mijloc de promovare a produselor si serviciilor bancare
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'95\tab}alinierea structurii functionale si evidentei bancilor comerciale la standarde internationale
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'95\tab}}{\fs22 diferentierea dobanzii
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'95\tab}}{\fs22\lang1036\langfe1033\langnp1036 diversificarea instrumentelor de depozite, atrager
ea economiilor populatiei (carnete de economii, depozite bancare, conturi personale, participarea la licitatii, emisiuni de actiuni, obligatiuni, ipoteci, cambii alte hartii de valoare) plati internationale pe baza de carti VISA
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'95\tab}cumparari vanzari de aur si alte materiale pretioase
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'95\tab}}{\fs22 angajarea unor operatiuni de leasing
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'95\tab}gestionarea unor credite in valuta si alte organisme internationale.
\par }\pard \qj \fi712\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\fs22 Numai printr-o dezvoltare foarte mare a produselor si serviciilor bancile comerciale pot fi l
uate in consideratie in competitia pentru ocuparea unui loc in randul bancilor moderne.
\par Politica de diversificare face parte din politica bancilor comerciale. Ea este inscrisa in deciziile luate la nivelul cel mai inalt al conducerii bancilor comerciale, dar totodata se acorda o larga autonomie unitatilor teritoriale. }{
\fs22\lang1036\langfe1033\langnp1036 Este vorba deci de includerea diversificarii produselor si serviciilor bancare in programele strategice ale bancilor comerciale. La cele mai multe din aceste banci, diversificarea produselor s
i serviciilor este inscrisa ca un obiectiv prioritar.
\par Diversificarea produselor si serviciilor apare ca urmare a faptului ca actualmente, bancile comerciale romanesti sunt banci de afaceri si banci de dezvoltare.
\par Ca urmare a acestei diversificari a produse
lor si serviciilor, in bancile comerciale a fost necesara o reorganizare si restructurare a compartimentelor functionale, care au devenit mai transparente si eficace pe langa faptul ca sunt in mai mare masura anexate pe nevoile clientilor, ceea ce a contr
ibuit in final la reducerea costurilor.
\par Prin diversificarea produselor si serviciilor, bancile comerciale contribuie din plin la infaptuirea politicii financiar-monetare si valutare a tarii. Astfel, diversificandu-se instrumentele de plata utilizate la banc
ile comerciale, poate fi diminuat sau chiar eliminat blocajul financiar. Prin participarea la licitatiile valutare, bancile comerciale contribuie la stabilirea zilnica a raportului dintre moneda nationala si valutele straine (deci a cursului valutar). Tem
p
erand cererea de credite (fie macar pentru faptul ca nu exista destule resurse), bancile comerciale contribuie la limitarea inflatiei. La aceasta reducere a inflatiei contribuie si faptul ca bancile acorda diferentiat credite, in functie de gradul de boni
t
ate al agentilor economici. Cooperarea mai mare intre banci faciliteaza operatiunile de investitii si de imprumut, realizandu-se studii de fezabilitate si participand la elaborarea si punerea in aplicare a proiectelor de investitii si de creditare. Tot in
 cadrul relatiilor de cooperare se poate aprecia ca se va pune un accent mai mare pe problemele de intermediere financiara si bancara.
\par Bancile comerciale se sprijina in activitatea de creditare, nu atat pe capitalul propriu (care are o pondere mica), cat ma
i ales pe capitalul de piata financiar-monetara. Sub acest raport se poate afirma ca banca este o institutie ce lucreaza cu banii altora. Cererile de credite sunt asa de mari, incat capitalul propriu si fondul de rezerva nu pot face fata. Capitalul si fon
d
urile proprii sunt numai "plamadeala" in care au loc complexe operatiuni bancare. Aceastea folosesc si ca o prima de asigurare pentru acoperirea riscurilor ce le implica plasamentele fiecarei banci. Considerand ca banca este numai o institutie care imprum
uta, ea trebuie mai intai sa-si asigure resursele de alimentare cu fonduri care, ulterior, sa fie utilizate drept credite. Preocuparea de a constitui resurse este tot atat de importanta ca acea de a le plasa, deci de a acorda creditele. }{\fs22 
Agentii economici pot fi in urmatoarele raporturi fata de banca:
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}}\pard \qj \fi-283\li566\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\ls8\ilvl1\adjustright\rin0\lin566\itap0 {\fs22\lang1036\langfe1033\langnp1036 
au capital disponibil care cauta plasament si fructificare
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}au nevoie de capital pentru activitatea curenta sau pentru investitii, pe care il cauta in schimbul fructificarii.
\par }\pard \qj \fi712\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\fs22\lang1036\langfe1033\langnp1036 Banca are menirea si de a lega ag
entii economici sau persoanele fizice cu spirit intreprinzator, cu persoane fizice sau juridice care dispun de mijloace banesti. Resursele bancii pot fi diferite in functie de provenienta, scop, conditii, termen, piata monetara.
\par Ele constituie obligatii al
e bancii de aceea sunt inscrise in partea dreapta a bilantului, deci in pasiv. Operatiunile bancare legate de constituirea resurselor se mai numesc din aceasta cauza operatiuni pasive. Prin faptul ca lucreaza cu resurse straine, raspunderea bancilor este 
mult mai mare. Aceasta se rasfrange si asupra celor care au dat capitalul spre plasare, pentru ca riscul apartine si acestora.
\par Dupa modul de constituire a resurselor in economiile de piata, bancile pot fi de depozite de rescont, bancii de emisiune si de ins
crisuri financiare, obligatiuni, inscrisuri ipotecare, banci de emisiune (banca centrala). Actualmente bancile comerciale din tara noastra au caracter universal si resursele de creditare sunt formate din:
\par {\listtext\pard\plain\b\fs22 \hich\af0\dbch\af0\loch\f0 1.\tab}}\pard \qj \fi-283\li849\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\ls9\ilvl2\adjustright\rin0\lin849\itap0 {\b\fs22 Pasive interne}{\fs22  compuse din:
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}}\pard \qj \fi-283\li566\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\ls10\ilvl1\adjustright\rin0\lin566\itap0 {\fs22\lang1036\langfe1033\langnp1036 
disponibilitati si depozite in lei ale clientilor bancii
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'96\tab}}{\fs22 depozite ale persoanelor fizice romane
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'96\tab}sume in tranzit intre unitatile bancilor
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}}{\fs22\lang1036\langfe1033\langnp1036 
depozite publice guvernamentale si asimilate acestora (depozitele si disponibilitatile persoanelor juridice romane care sunt unitati bugetare)
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'96\tab}}{\fs22 pasive interbancare care cuprind disponibilitatile (finantarea interbancara) si credite interbancare (refinantare BNR)
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}}{\fs22\lang1036\langfe1033\langnp1036 fondurile proprii ale bancii (capitalul social, fondul de rezerva, de risc, alte fonduri)
\par {\listtext\pard\plain\b\fs22\lang1036\langfe1033\langnp1036 \hich\af0\dbch\af0\loch\f0 2.\tab}}\pard \qj \fi-283\li849\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\ls11\ilvl2\adjustright\rin0\lin849\itap0 {\b\fs22\lang1036\langfe1033\langnp1036 
Pasivele externe}{\fs22\lang1036\langfe1033\langnp1036  concretizate in disponibilitati la vedere si depozitele in valuta ale persoanelor fizice si juridice, nerezidente, reflectate in conturile:
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'96\tab}}\pard \qj \fi-283\li566\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\ls12\ilvl1\adjustright\rin0\lin566\itap0 {\fs22 imprumuturi de la banci externe
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'96\tab}depozite ale bancilor externe
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'96\tab}depozite ale persoanelor fizice
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'96\tab}disponibilitati (in lei) ale nerezidentilor
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'96\tab}creditori din operatiuni cu strainatatea
\par {\listtext\pard\plain\b\fs22\lang1036\langfe1033\langnp1036 \hich\af0\dbch\af0\loch\f0 3.\tab}}\pard \qj \fi-283\li849\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\ls13\ilvl2\adjustright\rin0\lin849\itap0 {\b\fs22\lang1036\langfe1033\langnp1036 
Alte pasive}{\fs22\lang1036\langfe1033\langnp1036  inclusiv disponibilitatile si depozitele in valuta ale rezidentilor \endash  persoane fizice si juridice. In principal, constituirea resurselor se face prin cent
rala, apoi se repartizeaza pe unitati operative ale fiecarei banci. Intrucat este abia in formarea resurselor este interzisa unitatilor operative.
\par }\pard \qj \fi712\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\b\fs22\lang1036\langfe1033\langnp1036 Planul de creditare}{\fs22\lang1036\langfe1033\langnp1036 
 este un plan operativ care se intocmeste trimestrial de catre unitatile teritoriale ale b
ancilor comerciale si de catre departamentele de creditare din centralele acestor banci. Programul se intocmeste pe categorii (tipuri) de credite si sectoare de activitate. Se tine seama de graficele de acordare si rambursare care sunt anexa la contractul
 de credit. Aceste grafice se intocmesc in functie de cererile agentilor economici si previziunile fiecarei banci. 
\par Elaborarea programului de credite se face in functie de echilibrul financiar al agentului economic (lichiditate, solvabilitate, nivelul dator
iilor) capacitate manageriala, profitabilitatea afacerii, asigurarea realizarii productiei si valorificarii rentabile a acesteia.
\par Necesarul de credite se stabileste pe agentii, filiale, sucursale, centralizandu-se de fiecare data. Programul de credite pe centrala bancii comerciale reprezinta, de fapt, suma corectata a necesarului de credite a programelor unitatilor operative.
\par Dupa ce analizeaza necesarul din teritoriu, departamentul (de credite) din centrala stabileste plafoanele care sunt aprobate de comitetul de credite al bancii. Aceste plafoane sunt apoi repartizate unitatilor teritoriale.
\par }\pard \qc \fi712\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\fs22\lang1036\langfe1033\langnp1036 \page }{\b\fs22\lang1036\langfe1033\langnp1036 CONTRACT DE DEPOZIT BANCAR
\par }{\fs22\lang1036\langfe1033\langnp1036 incheiat astazi ..............................
\par }\pard \qj \fi712\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\fs22\lang1036\langfe1033\langnp1036 
\par Intre partile contractante
\par 
\par - Banca .................................... cu sediul in Bucur
esti, str ................................................ reprezentata prin ...................................... director si ............................................... contabil sef, denumita in prezentul contract "depozitar" pe de o parte si:
\par }\pard \qj \li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\fs22\lang1036\langfe1033\langnp1036  ................................................................................................................
\par \tab \tab (nume si prenumele persoanei fizice, denumirea persoanei juridice)
\par cu domiciliul in .............................................. jud ..........
......................... sector ......... posesor al BI seria ......... nr. ............................. eliberat la data de ................................... de catre ............................... cu sediul in ......................................
.
..... jud. .................................. sector ................. inmatriculata in Registrul Comertului sub nr. ............................................ reprezentata prin ...........................................................................
............ denumit(a) in prezentul contract "deponent" pe de alta parte.
\par 
\par \tab }{\fs22 In baza prevederilor art. 1591 si urmatoarelor din codul civil s-a incheiat prezentul contract de depozit bancar in urmatoarele conditii:
\par 
\par \tab }{\fs22\lang1036\langfe1033\langnp1036 Art.1 Obiectul contractului
\par \tab 1.1 Obiectul prezentului contract il constituie formarea de catre deponent a unui depozit bancar la depozitar in suma de .................................. lei cu o dobanda de ....................... % pe an.
\par \tab Aceasta dobanda este fluctuanta si va fi modificata in functie de evolutia dobanzilor de pe piata financiara.
\par 
\par \tab Art.2 Termenul
\par \tab 2.1 Depozitul se constituie pe o perioada de .......................... luni incepand cu data de ....................... si expira la data de .............................
\par 
\par \tab }{\fs22 Art 3. Obligatiunile partilor
\par \tab A. depozitarul se obliga 
\par {\listtext\pard\plain\fs22\lang1036\langfe1033\langnp1036 \hich\af0\dbch\af0\loch\f0 3.1\tab}}\pard \qj \fi-283\li1071\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\ls14\ilvl1\adjustright\rin0\lin1071\itap0 {\fs22\lang1036\langfe1033\langnp1036 
sa deschida deponentului cate un cont pentru fiecare depozit
\par {\listtext\pard\plain\fs22\lang1036\langfe1033\langnp1036 \hich\af0\dbch\af0\loch\f0 3.2\tab}sa primeasca cu titlu de depozit bani si sa predea deponentului documentele doveditoare ale depozitului
\par {\listtext\pard\plain\fs22\lang1036\langfe1033\langnp1036 \hich\af0\dbch\af0\loch\f0 3.3\tab}sa pastreze secretul a
supra depozitului constituit si sa nu furnizeze relatii asupra acestuia decat cu acordul deponentului sau in cazuri strict prevazute de lege;
\par {\listtext\pard\plain\fs22\lang1036\langfe1033\langnp1036 \hich\af0\dbch\af0\loch\f0 3.4\tab}sa elibereze sumele depozitate la cererea deponentului si sa garanteze depunerile facute.
\par }\pard \qj \li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\fs22\lang1036\langfe1033\langnp1036 \tab }{\fs22 B Deponentul se obliga:
\par {\listtext\pard\plain\fs22\lang1036\langfe1033\langnp1036 \hich\af0\dbch\af0\loch\f0 3.1\tab}}\pard \qj \fi-283\li1071\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\ls15\ilvl1\adjustright\rin0\lin1071\itap0 {\fs22\lang1036\langfe1033\langnp1036 
sa respecte nivelul si termenul depozitului prevazut la art 1 si 2 din contract;
\par {\listtext\pard\plain\fs22\lang1036\langfe1033\langnp1036 \hich\af0\dbch\af0\loch\f0 3.2\tab}la expirarea termenului de constituire a depozitului sa solicite prelungirea sau lichidarea depozitului. In caz de neprezentare depozitul se considera constituit 
pe un nou termen de aceeasi durata si in conditiile noilor dobanzi practicate de depozitar.
\par }\pard \qj \li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\fs22\lang1036\langfe1033\langnp1036 
\par }\pard \qj \fi727\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\fs22 Art 4 Clauze speciale
\par {\listtext\pard\plain\fs22\lang1036\langfe1033\langnp1036 \hich\af0\dbch\af0\loch\f0 4.1\tab}}\pard \qj \fi-283\li1078\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\ls16\ilvl1\adjustright\rin0\lin1078\itap0 {\fs22\lang1036\langfe1033\langnp1036 
dobanda aferenta depozitului constituit se calculeaza lunar (luna fiind considerata de 30 de zile) pe perioada existentei depozitului;
\par {\listtext\pard\plain\fs22\lang1036\langfe1033\langnp1036 \hich\af0\dbch\af0\loch\f0 4.2\tab}
in situatia in care deponentul solicita restituirea de sume din depozit inainte de expirarea termenului pentru care acesta a fost constituit, depozitarul este autorizat sa procedeze la lichidarea depozitului respectiv si sa recalculeze dobanda la nivelul
 dobanzii la vedere, corespunzatoare perioadei scurse de la constituire pana la data lichidarii;
\par {\listtext\pard\plain\fs22\lang1036\langfe1033\langnp1036 \hich\af0\dbch\af0\loch\f0 4.3\tab}deponentul imputerniceste pe domnul, doamna fiul (fiica) lui ......................................... si al ..............................................
..... nascut la data de  ....................... in ............................................           \tab \tab \tab \tab \tab \tab \tab }{\fs22 (locul nasterii)  \tab \tab \tab 
sa retraga total sau partial sume din prezentul depozit, inclusiv dobanda aferenta.
\par }\pard \qj \fi727\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\fs22 Prezentul contract s-a incheiat in doua exemplare originale, cate unul pentru fiecare parte.
\par 
\par 
\par 
\par \tab DEPOZITAR,\tab \tab \tab \tab DEPONENT,
\par DIRECTOR \tab CONTABIL SEF
\par 
\par {\listtext\pard\plain\fs22 \hich\af0\dbch\af0\loch\f0 1.2\tab}}\pard \qc \fi-283\li1063\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\ls6\ilvl1\adjustright\rin0\lin1063\itap0 {\fs22 \page }{\b\fs22 Principiile activitatii de creditare
\par }\pard \qj \fi712\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\b\fs22 
\par }{\fs22 Activitatea de acordare a creditelor se bazeaza pe urmatoarele principii generale:
\par }{\fs22\lang1036\langfe1033\langnp1036 a) activitatea de angajare si acordare a creditelor sub toate formele, precum si activitatea de asumare a unor riscuri, se bazeaza pe resursele proprii si atrase ale bancii.
\par In acest scop, este necesar ca evidenta contabila sa fie structurata pe un sistem 
de conturi, corespunzator, in lei si valuta, de credite si disponibilitati deschise diferentiat, pe urmatoarele categorii: feluri de valuta; termen scurt, mijlociu, lung; feluri de capital ale agentilor economici: de stat, privat, mixt, strain sau al pers
oanelor fizice.
\par Contabilitatea externa, condusa si organizata cu ajutorul calculatorului, asigura distribuirea zilnica a extraselor de cont bancare ale clientilor, balanta soldurilor conturilor clientilor si balanta rulajelor conturilor clientilor in forma 
stabilita de comun acord cu Directia Clientela, in functie de necesitatea de analiza, controlul si evidenta acestora in materie de disponibilitati si credite existente in conturile clientilor, conturi pe care le au in administrare.
\par b) elementele de analiza care vor sta in toate cazurile la baza asumarii de catre banca  a unor angajamente sunt urmatoarele:
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}}\pard \qj \fi-283\li283\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\ls17\adjustright\rin0\lin283\itap0 {\fs22\lang1036\langfe1033\langnp1036 
incadrarea in strategia generala a bancii; aceasta strategie generala a bancii vizeaza atat mentinerea pe linia politicii monetare a BNR cat si obtinerea unui profit cat mai mare, evitarea riscurilor, gestionarea cat mai eficienta a resurselor bancii;
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}
situatia concreta a fiecarui client; se vor urmari lichidarea, bonitatea, solvabilitatea, responsabilitatea activitatii desfasurate, precum si pozitia pe piata a fiecarui agent economic;
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}
activitatea de asumare de angajamente si de derulare a operatiunilor de creditare, va fi treptat, pe masura posibilitatilor, descentralizata in sensul aprecierii serviciilor de clientela din punct de vedere al localizarii teritoriale.
\par }\pard \qj \fi712\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\fs22\lang1036\langfe1033\langnp1036 
In acest scop, data fiind tendinta generala de descentralizare a activitatii economice se vor urmari deschiderea cat mai rapida de sucursale, in toate resedintele de judet si in marile orase industriale.
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'96\tab}}\pard \qj \fi-283\li283\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\ls18\adjustright\rin0\lin283\itap0 {\fs22 in toate cazurile, se va urmari core
larea directa, generala a posibilitatilor de refinantare existente in momentul respectiv;
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}}{\fs22\lang1036\langfe1033\langnp1036 
o atentie deosebita se va acorda categoriilor de garantii ce se vor putea fi obtinute in acoperirea angajamentelor asumate, in numele clientilor sai, intre care, un
 loc deosebit trebuie sa ocupe garantiile materiale reale oferite de client, bazate pe propria loc activitate, precum si garantiile bugetare;
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}Directia Contencios, va trece la executarea garantiilor reale (ipoteci, gajul, scrisorile de garantie sau firma 
etc.) sau actionarea in justitie pentru recuperarea creantelor detinute asupra clientilor, in cazul in care se constata una din urmatoarele situatii:
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}}\pard \qj \fi-283\li566\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\ls18\ilvl1\adjustright\rin0\lin566\itap0 {\fs22\lang1036\langfe1033\langnp1036 
una din declaratiile pe linie financiar contabila, de organizare contabila, sau de orice alta natura solicitata de banca, se va dovedi falsa;
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}obiectul nu se inscrie in parametrii de eficienta economica;
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}
clientul nu are suficiente disponibilitati in conturile sale pentru achitarea la termen si in cuantumul prevazut, a obligatiilor ce-i revin, fata de banca;
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}
derularea operatiunilor legate de angajamentele asumate de banca, pentru si in numele clientelei, trebuie sa asigure alocarea unor sume importante pentru constituirea de provizioane de risc, daca tinem seama de gradul de incertitudine ridicat, generat
 de faptul ca majoritatea clientilor sunt noi, precum si de necesitatea acoperirii angajamentelor asumate in conformitate  cu practica bancara internationala.
\par }\pard \qj \fi712\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\fs22\lang1036\langfe1033\langnp1036 
\par 
\par {\listtext\pard\plain\b\fs22 \hich\af0\dbch\af0\loch\f0 1.3\tab}}\pard \qc \fi-283\li1063\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\ls6\ilvl1\adjustright\rin0\lin1063\itap0 {\b\fs22 Creditarea agentilor economici
\par }\pard \qj \fi712\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\b\fs22 
\par }{\fs22 In general nevoia de creditare apare din lipsa fondurilor p
roprii pentru a face fata in intregime cheltuielilor ocazionale de desfasurare normala a activitatii complexe a fiecarui agent economic (productie, investitii, comerciala etc.). La orice agent economic apar dezechilibre, disfunctionalitati in cazul trezor
eriei, al gestiunii intreprinderii. De aceea creditul de trezorerie ocupa o pondere insemnata in totalul creditelor bancare. }{\fs22\lang1036\langfe1033\langnp1036 
Creditul de trezorerie este necesar cand activul circulant din bilant nu poate fi acoperit integral din incasari si din fondul de ru
lment. Se poate afirma ca in cadrul creditelor de exploatare creditul de trezorerie detine primul loc. Orice agent economic detine active circulante importante determinate in primul rand de activitatea de productie si in al doilea rand, de creantele asupr
a clientelei. La orice agent economic, sursele de finantare trebuie sa fie suficiente pentru a face fata nevoilor de acoperire a activului circulant.
\par In tara noastra, fondul de rulment are in general un volum mai mare decat in tarile cu o economie dezvoltat
a, ca urmare a vitezei mai mici de rotatie a mijloacelor circulante in general si a ciclului de fabricatie mai lung. De aceea, avand in vedere si faptul ca mijloacele proprii de finantare sunt limitate, putem afirma ca la noi, necesitatea creditelor banca
r
e este mai mare. Adaugam la cauzele de mai sus si stocurile mai mari de produse finite care nu se vand (ca urmare a nefolosirii marketingului vanzarii) si incasarilor restante care au ajuns la un nivel de nesuportat. Necesarul total de fonduri si deci de 
c
redite este determinat si de modul de gestionare al agentului economic. Daca printr-o gestionare eficienta a fondurilor se poate asigura rotatia stocurilor, recuperarea mai rapida a creantelor nemobilizate, obtinerea prelungirii creditului furnizorilor, c
resterea avansurilor primite de la partenerii de afaceri, putem vorbi de o reducere a necesarului de credite al agentilor economici.
\par Exista mai multe clasificari de credite bancare acordate agentilor economici in functie de varietatea si complexitatea raporturilor de creditare, de gruparea operatiunilor de credit.
\par In economia de piata exista cinci mari feluri de credite si anume:
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'96\tab}}\pard \qj \fi-283\li283\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\ls19\adjustright\rin0\lin283\itap0 {\fs22 creditul bancar;
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'96\tab}creditul comercial;
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'96\tab}creditul obligatar;
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'96\tab}creditul ipotecar;
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'96\tab}credit de consum.
\par {\listtext\pard\plain\fs22\lang1036\langfe1033\langnp1036 \hich\af0\dbch\af0\loch\f0 1.\tab}}\pard \qj \fi-283\li849\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\ls20\ilvl2\adjustright\rin0\lin849\itap0 {\fs22\ul\lang1036\langfe1033\langnp1036 
Creditul bancar}{\fs22\lang1036\langfe1033\langnp1036 
 este acordat de catre banci persoanelor fizice si juridice pe termen scurt, mijlociu sau lung. Aceste credite se pot acorda cu sau fara inscrisuri, cu garantii reale sau fara pe obiecte ale creditarii sau global.
\par {\listtext\pard\plain\fs22\lang1036\langfe1033\langnp1036 \hich\af0\dbch\af0\loch\f0 2.\tab}}{\fs22\ul\lang1036\langfe1033\langnp1036 Creditul comercial}{\fs22\lang1036\langfe1033\langnp1036  se acorda sub forma 
de marfa. El satisface atat interesul producatorului (deci agentul economic producator) de a vinde mai repede marfa, cat si pe cel al comerciantului care nu are fonduri sa le elibereze direct la primirea marfii.
\par {\listtext\pard\plain\fs22\lang1036\langfe1033\langnp1036 \hich\af0\dbch\af0\loch\f0 3.\tab}}{\fs22\ul\lang1036\langfe1033\langnp1036 Creditul obligatar}{\fs22\lang1036\langfe1033\langnp1036  apare in raporturile d
intre institutiile de stat si agentii economici in calitate de debitori, pe de o parte si creditori, pe de alta parte. }{\fs22 
Aceste raporturi se concretizeaza in faptul ca primii emit obligatiuni, iar creditorii sunt subscriitori si detinatori ai acestor obligatiuni.
\par {\listtext\pard\plain\fs22\lang1036\langfe1033\langnp1036 \hich\af0\dbch\af0\loch\f0 4.\tab}}{\fs22\ul\lang1036\langfe1033\langnp1036 Creditul ipotecar}{\fs22\lang1036\langfe1033\langnp1036 
 este destinat activitatii imobiliare si se bazeaza in principiu pe proprietatea privata. El presupune o conventie intre creditor si imprumutat, care cuprinde in esenta proprietatea (ca garantie a rambursarii imprumutului), condit
iile si scadentele, penalitatile si circumstantele in care se poate pierde proprietatea.
\par {\listtext\pard\plain\fs22\lang1036\langfe1033\langnp1036 \hich\af0\dbch\af0\loch\f0 5.\tab}}{\fs22\ul\lang1036\langfe1033\langnp1036 Creditul de consum}{\fs22\lang1036\langfe1033\langnp1036 
 se acorda pe termen scurt sau mijlociu, persoanelor individuale, pentru acoperirea valorii marfurilor si serviciilor procurate din comert sau pentru recreditarea creantelor contractate in acest scop.
\par }\pard \qj \fi712\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\fs22 Bancile comerciale din tara noastra acorda urmatoarele tipuri de credite, in functie de scopul pentru care sunt solicitate:
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}}\pard \qj \fi-283\li283\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\ls21\adjustright\rin0\lin283\itap0 {\fs22\lang1036\langfe1033\langnp1036 
credite pe termen scurt cu durata de rambursare de pana la doi ani;
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}credite pe termen mediu cu durata de rambursare de 1 \endash  5 ani;
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}credite pe termen lung cu durata de rambursare de peste 5 ani.
\par }\pard \qj \fi712\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\fs22\lang1036\langfe1033\langnp1036 
\par }\pard \qc \li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\fs22\lang1036\langfe1033\langnp1036 \page }{\b\fs22\lang1036\langfe1033\langnp1036 Capitolul 2.
\par  }{\b\scaps\fs22\lang1036\langfe1033\langnp1036 Riscurile bancare si gestiunea lor
\par }\pard \qj \li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\fs22\lang1036\langfe1033\langnp1036 
\par 
\par 
\par }\pard \qj \li1063\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin1063\itap0 {\b\fs22\lang1036\langfe1033\langnp1036 2.1 Definirea riscurilor bancare
\par }\pard \qj \li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\fs22\lang1036\langfe1033\langnp1036 
\par }\pard \qj \fi727\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\fs22\lang1036\langfe1033\langnp1036 Cel mai adesea, riscurile
 bancare sunt considerate din doua puncte de vedere sensibil diferite: punctul de vedere teoretic si cel practic.
\par Atunci cand definesc riscul si gestiune a riscului, cel mai multi autori se concentreaza asupra functiei clasice a bancilor, de intermediere i
n sfera riscurilor financiare prin diviziunea acestora; din acest punct de vedere este tratata indeosebi problema unor pierderi neprevazute la activele bancare, pierderi cauzate de riscuri de piata, de credit sau de lichiditate.
\par Alti autori se concentreaza asupra unor pierderi \endash  potentiale sau efective \endash 
 cauzate de riscuri cu totul aleatoare si necontrolabile, ca de exemplu frauda, incendiul sau catastrofele naturale. Cei mai multi practicieni abordeaza, de regula, o singura grupa sau o clasa de riscuri, ce
l mai adesea sub aspectul tehnicilor de gestiune si doar foarte rar sunt analizate si mecanismele de transmisie / amplificare a riscului suportat de institutia financiara. 
\par Riscul poate avea un impact considerabil asupra valorii bancii sau institutiei fina
nciare in chestiune, atat un impact in sine (de regula sub forma pirderilor directe suportate), cat si un impact indus cauzat de efectele asupra clinetelei, personalului, partenerilor si chiar asupra autoritatii bancare.
\par }{\fs22 In functie de punctul de vedere din care facem analiza riscului, acesta poate fi definit in mod diferit. Vor adopta ca definitie standard pe cea lingvistica si vom considera drept }{\i\fs22 risc}{\fs22 
 probabilitatea de producere a unui eveniment cu consecinte adverse pentrui subiect. In acest context, prin expunerea la }{\i\fs22 risc}{\fs22 
 vom intelege valoarea actuala a tuturor pierderilor sau cheltuielilor suplimentare pe care le suporta sau pe care le-ar putea suporta institutia financiara in cauza. Din aceasta definitie rezulta ca expunerea la risc poate fi efectiva sau potentiala. 
\par Daca acesta este cadrul \endash  foarte general \endash  in care vom aborda problema riscurilor bancare, atunci putem prezenta si diferite acceptiuni care se dau riscului bancar ca pe diferite tipuri de riscuri bancare. }{
\fs22\lang1036\langfe1033\langnp1036 Si, desi perspectiva celor mai mult
e  analize bancare asupra riscului este ingusta trebuie sa subliniem inca de acum ca acesta este generat de o multime de operatii si proceduri. De aceea, in domeniul financiar cel putin, riscul trebuie privit ca un conglomerat sau complex de riscuri, de c
ele mai multe ori interdependente prin aceea ca pot avea cauze comune sau ca producerea unuia poate genera in lant alte riscuri. Drept urmare, aceste operatiuni si proceduri genereaza in permanenta expunere la risc. 
\par Riscurile bancare sunt acele riscuri cu 
care se confrunta bancile in operatiunile lor curente si nu doar riscurile specifice activitatii bancare clasice. Ca agenti care opereaza pe diverse piete financiare, bancile se confrunta si cu riscuri ce nu le sunt specifice (de exemplu riscul valutar), 
dar pe care trebuie sa le gestioneze.
\par 
\par }\pard \qj \li1063\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin1063\itap0 {\b\fs22\lang1036\langfe1033\langnp1036 2.2 Importanta gestionarii riscurilor bancare 
\par }\pard \qj \fi727\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\b\fs22\lang1036\langfe1033\langnp1036 
\par }{\fs22\lang1036\langfe1033\langnp1036 Este, desigur evident ca o strategie bancara performanta trebuie sa cuprinda atat programe cat si proceduri de gestionare a riscurilor bancare care vizeaza, de fapt, mini
malizarea probabilitatii producerii acestor riscuri si a expunerii  potentiale a bancii. Sustinem ca este evident deoarece obiectivul principal al acestor politici este acela de }{\i\fs22\lang1036\langfe1033\langnp1036 minimizare a}{
\fs22\lang1036\langfe1033\langnp1036  }{\i\fs22\lang1036\langfe1033\langnp1036 pierderilor}{\fs22\lang1036\langfe1033\langnp1036  sau cheltuielilor suplimentare suportate de banca, ia
r obiectivul central al activitatii bancare il reprezinta obtinerea unui profit cat mai mare pentru actionari.
\par Numai ca nu intotdeauna aceste doua obiective \endash  cel general si cel sectorial \endash  se afla in concordanta. S-ar putea ca, in anumite situatii, costul
 implementarii si exploatarii procedurilor care vizeaza gestiunea riscurilor sa fie mai mare decat expunerea potentiala la risc. Ceea ce nu inseamna decat ca si aceste programe trebuie selectate in functie de criterii de eficienta. }{\fs22 
In alte cazuri s-ar pute
a ca strategia bancii sa implice asumarea unor riscuri sporite sau a unor riscuri noi. In acest caz decizia trebuie luata intotdeauna avand in vedere si cheltuielile suplimentare necesare pentru asigurarea unei protectii corespunzatoare si pierderile pote
ntiale mai mari. }{\fs22\lang1036\langfe1033\langnp1036 
Dar daca decizia este de asa natura, atunci minimalizarea riscurilor bancare nu trebuie in nici un caz sa se transforme intr-un obiectiv in sine. De altfel, obiectivele managementului bancar sunt trei: maximizarea rentabilitatii, minimizare
a expunerii la risc si respectarea reglementarilor bancare in vigoare. Dintre acestea nici unul nu are un primat absolut, una din sarcinile conducerii bancii fiind si aceea de a stabili obiectivul managerial central al fiecarei perioade.
\par Importanta gestiunii riscurilor bancare nu se rezuma totusi doar la minimizarea cheltuielilor. Preocuparea permanenta a conducerii pentru minimizarea expunerii la risc are efecte pozitive si asupra }{\i\fs22\lang1036\langfe1033\langnp1036 
comportamentului salariatilor}{\fs22\lang1036\langfe1033\langnp1036  care devin mai rigurosi si mai constiinciosi i
n indeplinirea sarcinilor de servici, nu este de neglijat nici efectul psihologic de descurajare a unor activitati frauduloase. Existenta unor programe adecvate pentru prevenirea si controlul riscurilor bancare contribuie si la impunerea institutiei in ca
d
rul comunitatii bancare, nu de putine ori experienta unor astfel de programe conditionand admiterea sau participarea bancii respective la asociatii interbancare (indeosebi de plati) sau obtinerea unor calificative superioare din partea autoritatii bancare
.
\par Si, nu in cele din urma, o gestiune eficace a riscurilor bancare isi va pune amprenta si asupra }{\i\fs22\lang1036\langfe1033\langnp1036 imaginii publice }{\fs22\lang1036\langfe1033\langnp1036 
a bancii. Clientii doresc o banca sigura si actionarii la fel.  Soliditatea unei banci ii atrage insa pe deponenti in conditiile in care depoz
itele nu sunt asigurate in mod obligatoriu. Daca bancile nu sunt obligate sa se asigure de raspunderea civila fata de deponenti, atunci interesul acestora pentru alegerea celor mai sigure institutii este diminuat; principalul criteriu devine rentabilitate
a
 plasamentului. Poate sa apara atunci o selectie adversa pentru care este foarte probabil ca bancile cu cele mai mari probleme, in lipsa de lichiditate, sa acorde cele mai ridicate dobanzi. Pentru evitarea acestei selectii adverse, este preferabil ca asig
uratorul sa perceapa prime de asigurare diferentiate, mai ridicate pentru bancile cu o gestiune deficitara a riscurilor (cazul SUA) astfel incat sa existe o penalizare explicita pentru acestea.
\par In Romania bancile au facut fata tuturor factorilor de instabil
itate financiara intr-un context de instabilitate generala generata de procesul de tranzitie. Tranzitia a insemnat pentru bancile romanesti modificarea statutelor (ele operand ca societati pe actiuni), a cadrului legal de operare (legea permitand angajare
a
 intr-o gama larga de operatiuni financiare), libertatea in alegerea partenerilor interni si externi, concurenta din partea altor institutii financiare (fondurile de plasament) si altor banci (romanesti, create dupa 1990 si straine), reducerea refinantari
i
 directe de catre banca centrala, schimbarea permanenta a normelor prudentiale de catre BNR si deteriorarea situatiei financiare a majoritatii clientilor mari. In aceste conditii, pentru conducerea bancilor, implementarea unor politici adecvate de gestiun
e a riscurilor devine o necesitate, ca si asimilarea de catre salariati a unor noi tehnici si instrumente de gestiune a riscurilor.
\par }{\fs22 In sectorul bancar cresterea a devenit un atribut esential al performantei bancare. }{\fs22\lang1036\langfe1033\langnp1036 Ea nu este un scop in sine ci este impusa
 de rentabilizarea investitiilor in tehnologii noi, posibila doar in conditiile "productiei de masa". Procesul de crestere in sectorul bancar are doua componente: cresterera in domeniul serviciilor bancare traditionale (creditarea clientilor, efectuarea v
i
ramentelor, gestiunea patrimoniului) si cresterea in zona noilor servicii bancare (gestiunea de trezorerie, operatiuni pe piata de capital, servicii informatice si de informare, asigurari). El este caracterizat de faptul ca are lor intr-un context concure
n
tial si are drept rezultat prestarea de catre institutia financiara a unei game largi de servicii. Unele din aceste servicii sunt noi si personalul este lipsit de experienta, iatr altele presupun operarea pe piete cu care bancile nu sunt familiare si atun
ci personalul pare lipsit de profesionalism. 
\par Drept urmare imaginea bancilor pe pietele financiare tinde sa fie una deficitara, pentru ca ele risca sa fie tratate de catre partenerii mai specializati drept conglomerate formate la voia intamplarii, conduse d
e persoane ignorante in noile domenii si inconstiente de capacitatea neta de castig sau riscurile specifice (exemplul bancii Baring's).
\par In conditiile unui management corect, cresterea operatiunilor in cele doua arii mari \endash  servicii traditionale si servicii noi \endash 
 ar trebui sa aiba un efect sinergetic. Insa pierderile suportate de unii actionari si volatilitatea veniturilor duc la diminuarea valorii de piata a bancilor, ceea ce face extrem de scumpa procurarea de capital suplimentar (necesar pentru protectia 
generala a institutiei in conditii de crestere). Deoarece comunicarea bancilor cu publicul si chiar cu actionarii, in ceea ce priveste gestiunea riscurilor bancare, este deficienta (in Romania in special) piata tinde sa trateze toate bancile la fel. Proas
ta gestiune a catorva banci poate influenta negativ si imaginea publica a celorlalte.
\par In concluzie, deoarece riscurile bancare sunt o sursa de cheltuieli neprevazute, gestiunea lor adecvata pentru stabilizarea veniturilor in timp are rolul unui amortizor de
 soc. In acelasi timp, consolidarea valorii actiunilor bancare se poate realiza doar printr-o comunicare reala cu pietele financiare si implementarea unor programe adecvate de gestiune a riscurilor bancare. Toate bancile si institutiile financiare trebuie
sa-si imbunatateasca intelegerea si practica gestiunii riscurilor bancare pentru a-si putea gestiona cu succes diferite game de produse in anii '90. Daca procesul de gestiune a riscurilor bancare si sistemul global de management sunt efective, atunci banc
a va avea succes. Bancile pot gestiona cu succes riscurile bancare daca recunosc rolul strategic al riscurilor, daca folosesc paradigma de analiza si gestiune in vederea cresterii eficientei.
\par }\pard \qc \li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\fs22\lang1036\langfe1033\langnp1036 \page }{\b\fs22\lang1036\langfe1033\langnp1036 Capitolul 3.
\par  }{\b\scaps\fs22\lang1036\langfe1033\langnp1036 Riscul in activitatea de creditare
\par }\pard \qj \li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\fs22\lang1036\langfe1033\langnp1036 
\par 
\par 
\par }\pard \qj \li1063\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin1063\itap0 {\b\fs22\lang1036\langfe1033\langnp1036 3.1 Rolul calitatii portofoliului de creditare bancara
\par }\pard \qj \fi727\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\fs22\lang1036\langfe1033\langnp1036 
\par Pentru multi observatori principala operat
iune bancara este creditarea. Intr-adevar, intre plasamentele bancilor, pe primul loc se situeaza creditele. Felul in care banca aloca fondurile pe care le gestioneaza poate influenta intr-un mod hotarator dezvoltarea economica la nivel local sau national
.
 Pe de alta parte, orice banca isi asuma, intr-o oarecare masura, riscuri atunci cand acorda credite si, in mod cert, toate bancile inregistreaza in mod curent pierderi la potofoliul de credite, atunci cand unii dintre debitori nu-si onoreaza obligatiile.
 Oricare ar fi insa nivelul riscurilor asumate, pierderile la portofoliul de credite pot fi minimizate daca operatiunile de creditare sunt organizate si gestionate cu profesionalism.
\par Din acest punct de vedere, cea mai importanta functie a conducerii bancii 
este de a controla calitatea portofoliului de credite. Aceasta, deoarece slaba calitate a creditelor este principala cauza a falimentelor bancare. Dupa cum se arata intr-un raport al Oficiului Controlului Monedei din SUA referitor la cauzele principale al
e falimentelor bancare din aceasta tara in anii '80, intre acestea se inscriu:
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'96\tab}}\pard \qj \fi-283\li566\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\ls22\ilvl1\adjustright\rin0\lin566\itap0 {\fs22 neatentia in formularea normelor de creditare;
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'96\tab}prezenta unor conditii de creditare prea generoase cuplata cu lipsa unor normative clare;
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}}{\fs22\lang1036\langfe1033\langnp1036 nerespectarea normelor interne de creditare de catre personalul bancii;
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'96\tab}}{\fs22 concentrarea riscanta a creditelor pe anumite piete;
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}}{\fs22\lang1036\langfe1033\langnp1036 slabul control exercitat asupra personalului (inspectori);
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}cresterea excesiva a valorii portofoliului de credite, peste posibilitatile rezonabile ale bancii de a acoperi riscurile;
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'96\tab}}{\fs22 sisteme defectuoase sau inexistente de detectare a creditelor cu probleme;
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}}{\fs22\lang1036\langfe1033\langnp1036 necunoasterea fluxului de trezorerie al clientilor;
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'96\tab}}{\fs22 creditarea preferentiala (sub conditiile de piata).
\par }\pard \qj \fi727\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\fs22\lang1036\langfe1033\langnp1036 Pentru a depasi deficientele sistemice si procedur
ile de acest gen, care duc la cresterea pierderilor de portofoliu de credite, bancile trebuie sa conceapa si sa implementeze politici de creditare performante si sa angajeze/pregateasca un personal cu un profesionalism ireprosabil, care sa inteleaga si sa
respecte disciplina acestor norme. Pentru aceasta este necesar sa existe un feed-back permanent prin care conducerea bancii sa fie informata despre eficacitatea procesului de control al calitatii creditelor, astfel incat cele cu probleme sa fie detectate 
si corectate (in limita posibilitatilor) din timp. 
\par 
\par }\pard \qc \fi727\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\b\fs22\lang1036\langfe1033\langnp1036 3.2 Politica de creditare
\par }\pard \qj \fi727\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\fs22\lang1036\langfe1033\langnp1036 
\par 
\par Pentru ca o politica bancara de creditare sa se dovedeasca si utila, ea trebuie sa indeplineasca conditii de formulare corecta si continut complet. 
\par }{\fs22 O politica de creditare poate fi apreciata ca fiind corecta daca in elaborarea ei s-a acordat prioritate atingerii urmatoarelor obiective: 
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}}\pard \qj \fi-283\li566\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\ls23\ilvl1\adjustright\rin0\lin566\itap0 {\fs22\lang1036\langfe1033\langnp1036 
selectia unor credite sigure si cu o probabilitate maxima de rambursare;
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}asigurarea unor plasamente fructuoase pentru fondurile de care dispune banca;
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'96\tab}}{\fs22 incurajarea extinderii creditelor care corespund nevoilor pietei pe care opereaza banca.
\par }\pard \qj \fi727\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\fs22\lang1036\langfe1033\langnp1036 
Politicile de  creditare variaza in timp si in functie de ciclul economic. Ele trebuie sa fie actualizate si sa devina adaptabile la modificarile mediului concurential si economic. 
\par Continutul unei politici de creditare comporta trei parti principale: formulari politice cu caracter general referitoare la sarcinile compartimentului de creditare si la calitatile optime ale portofoliului de credite, principii
 si proceduri recomandate in constituirea si administrarea portofoliului de credite si, in fine proceduri si parametri detaliati de creditare, specifici fiecarui tip de credite \endash  normele de creditare.
\par }{\b\fs22\lang1036\langfe1033\langnp1036 Partea intai }{\fs22\lang1036\langfe1033\langnp1036   are menirea de a stabili cadrul general si obiectivele politicii de creditare. Structura sa generala ar putea fi urmatoarea:
\par A. Obiective 
\par B. Strategii
\par \tab B. 1. Tipuri de credite si structura portofoliului de credite
\par \tab B.2. Structura creditelor in functie de lichiditatea si scadenta
\par \tab \tab  lor
\par \tab B.3. Marimea portofoliului de credite.
\par C. Piete (zone comerciale)
\par D. Caracteristici ale creditelor
\par \tab D.1. Tipuri de credite
\par \tab D.2. Garantii 
\par \tab D.3. Termeni de creditare.
\par E. Responsabilitati referitoare la aprobarea creditelor si controlul calitatii acestora.
\par }{\i\fs22\lang1036\langfe1033\langnp1036 Obiectivele politicii de creditare}{\fs22\lang1036\langfe1033\langnp1036  pot fi interne sau externe, in functie de prioritatile bancii.
\par Obiectivele concrete trebuie sa defineasca rolul bancii respective, asa cum si-l asuma ea, apoi rentabilitatea globala stabilita pentru perioada respectiva, i
maginea pe care doreste sa o impuna pe piata, increderea publicului, gradul de agresivitate in concurenta cu ceilalti competitori. Dincolo de aceste obiective de ordin general, menite sa asigure racordarea efortului compartimentului de credite la cel glob
a
l al bancii, pentru asigurarea unui efect de sinergie, obiectivele politicii de creditare pot si trebuie sa fie particularizate pentru acest domeniu de activitate prin stabilirea sarcinii de crestere medie (anuala sau trimestriala) a portofoliului de cred
ite (in preturi constante) si a marimii acestui portofoliu relativ la activele sau depozitele bancare totale.
\par }{\i\fs22\lang1036\langfe1033\langnp1036 Strategiile de creditare}{\fs22\lang1036\langfe1033\langnp1036  vizeaza trei domenii distincte.
\par Strategia in domeniul structurii creditelor bancare stabileste ponderea diferitelor catego
rii de credite in total, directiile si limitele minime de diversificare a portofoliului, precum si gradul de participare eventuala la credite sindicalizate. Fiind cel mai important activ bancar, creditele (esalonarea rambursarii lor) au o importanta deose
bita pentru asigurarea lichiditatii bancare, o data cu asigurarea rentabilitatii bancare. Si, desi obiectivul principal al politicii de creditare il reprezinta minimizarea riscului de creditare, nici gestiunea altor riscuri bancare nu trebuie neglijata.
\par Lichiditatea stabilita in functie de structura activelor si pasivelor bancare este una din restrictiile majore ale structurii (in functie de scadenta) a creditelor bancare; aceasta deoarece \endash 
 in lipsa unei piete secundare suficient de dezvoltate (titularizare) lichiditatea creditelor este determinata aproape exclusiv de scadenta lor.
\par In cele din urma obiectivele de ordin strategic referitoare la marimea portofoliului de credite sunt cele care determina cuantificarea agresivitatii bancii, asa cum a fost ea form
ulata global la primul punct. O politica agresiva se caracterizeaza prin crestere absoluta (valoare in preturi constante) si relativa (pondere in totalul activelor bancare) a portofoliului de credite. O astfel de strategie are, de regula, un caracter temp
o
rar, deoarece prezinta dezavantaje evidente. Pe termen scurt o astfel de politica poate duce la o crestere a veniturilor, dar este mai putin sigur ca aceasta crestere va atrage si o crestere de rentabilitate. Cresterea rapida a valorii portofoliului de cr
e
dite sporeste in mod evident riscurile legate de gestiunea acestui portoliu. Cel mai riscant element il reprezinta scaderea potentiala a calitatii portofoliului, datorita presiunii pe care o exercita asupra peronalului gestiunea mai multor clienti si impe
rativul strategic al cuceririi pietei; daca acest imperativ devine o prioritate, atunci el poate sa se transforme in crestere cu orice pret si, cel mai adesea, acest pret il reprezinta cresterea expunerii globale la risc a bancii.
\par }{\i\fs22\lang1036\langfe1033\langnp1036 Definirea pietelor}{\fs22\lang1036\langfe1033\langnp1036  sau a z
onelor comerciale pentru banca este un element de politica pe termen lung si realizarea acestui obiectiv cere timp, mai ales atunci cand se impune o schimbare radicala de orientare. Politica de creditare trebuie sa defineasca fara echivoc piata primara si
secundara pe care se vor desfasura activitatile de creditare, precum si prioritatile geografice. Este evident ca aceasta componenta a politicii de creditare este valabila, in continut, in functie de talia bancii: pentru o banca internationala acestea se p
r
ezinta sub forma unor regiuni sau grupe de tari deservite de unitati bancare proprii si definite prin volum de activitate si operatii. Pentru bancile mai mici (majoritatea bancilor ramanesti) zona comerciala are un caracter preponderent national sau chiar
local (regional). In acest context prioritatile geografice pot presupune o extindere, o consolidare sau o retragere de pe anumite piete, piete definite din punctul de vedere al ariei geografice deservite de banca. Continutul efectiv al acestui element de 
politica de creditare trebuie sa contina definirea explicita a zonei deservite in mod regulat de filiale sau agentii proprii, stabilirea in afara zonei sale comerciale, proprii precum si conditiile de acceptare exceptionale a altor credite.
\par In ceea ce priveste }{\i\fs22\lang1036\langfe1033\langnp1036 standardele de creditare}{\fs22\lang1036\langfe1033\langnp1036 
 la acest nivel prezentarea lor nu este decat globala si legata de contextul stabilit de strategia de creditare a bancii pentru parioada curenta. Ele trebuie sa cuprinda precizari referitoare la tipurile de credite, garantii si 
termene. Definirea tipurilor de credite presupune stabilirea unor liste pentru: creditele preferate de banca, creditele de evitat datorita riscului ridicat si pentru creditele interzise, de regula in virtutea unor restrictii legale. Apoi trebuie specifica
t
e tipurile de garantii (mobiliare si imobiliare) pe care banca este dispusa sa le accepte, in virtutea expertizei proprii, a expertizei partenerilor traditionali sau a evolutiei conditiilor de pe piata si a celor legale. Termenele avute in vedere sunt cel
e referitoare la periodicitatea reevaluarii factorilor de risc, inclusiv a costurilor si a pretului creditului.
\par Tot prin politica de creditare trebuie stabilite }{\i\fs22\lang1036\langfe1033\langnp1036 limitele responsabilitatii }{\fs22\lang1036\langfe1033\langnp1036  tuturor celor implicati in procesul de creditare. Este vorba, in pri
ncipal, de limitele raspunderii ofiterilor de credite si ale comitetelor de credit. Aceste limite depind de experienta si de pozitia ofiterului, de garantii, de sezonalitate, precum si de capitalul/talia bancii. 
\par }{\b\fs22\lang1036\langfe1033\langnp1036 Partea a doua}{\fs22\lang1036\langfe1033\langnp1036  a politicii de creditare contine principiile si procedurile pe care banca isi bazeaza procesul de creditare. Cuprinde urmatoarele elemente:
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'96\tab}}\pard \qj \fi-283\li566\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\ls24\ilvl1\adjustright\rin0\lin566\itap0 {\fs22 protectia prin asigurare;
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'96\tab}documentatia si garantiile mobiliare;
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'96\tab}incasarea creditelor restante si recuperarea garantiilor;
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'96\tab}norme si reglementari legale;
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'96\tab}stabilitatea ratei dobanzilor percepute;
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}}{\fs22\lang1036\langfe1033\langnp1036 informatii financiare solicitate de la debitori;
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}etica profesionala si conflictele de interese;
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'96\tab}}{\fs22 examinarea si controlul periodic al calitatii creditelor.
\par }\pard \qj \fi727\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\i\fs22\lang1036\langfe1033\langnp1036 Protectia prin asigurare}{\fs22\lang1036\langfe1033\langnp1036 
 se poate realiza pentru bunuri (cele care se constituie in garantii, dar nu numai), pentru persoane (cadrele de conducere pentru raspundere civila sau pentru rapiri, dar si asigurari de viata pentru debitorii individuali in cazul creditelor pe termen lun
g), pentru banca insasi ca beneficiar de asigurari si reasigurari (pentru riscul de creditare). De regula, este recomandabil sa se incheie contractul de asigurare pentru toate riscurile asigurabile in conditii de eficienta. 
\par }{\i\fs22\lang1036\langfe1033\langnp1036 Documentatia si garantiile }{\fs22\lang1036\langfe1033\langnp1036 
mobiliare solicitate trebuie sa se constuie in dosare de creditare uniforme la nivelul intregii banci, indiferent de locatia unitatii bancare operative si de personalul angajat. Implementarea cerintelor vazand aceast caracter unitar poate ridica probleme 
semnificative la nivelul bancilor mai mici, datorita raporturilor personale ale functionarilor acestora cu clientii bancii.
\par }{\i\fs22\lang1036\langfe1033\langnp1036 Tratamentul creditelor restante si recuperarea garantiilor}{\fs22\lang1036\langfe1033\langnp1036  se poate realiza printr-un compartiment specializat care poate avea si sarcini de control. Procedura \endash 
 scrisa \endash  cuprinde informatiile de semnalizare a dificultatilor, detectia acestora, raportarea masurilor immediate, controlul garantiilor si, eventual detectia fraudelor. Creditele restante pot avea cauze obiective, legate de ev
olutia ciclului economic, sau cauze subiective, care sunt, de fapt, un eufemism pentru a desemna managementul defectuos.
\par }{\i\fs22\lang1036\langfe1033\langnp1036 Detectia problemelor}{\fs22\lang1036\langfe1033\langnp1036  se poate face din timp daca evolutia calitatii debitorului si a mediului sau economic sunt urmarite indeaproape de
 banca. Pentru un ofiter de credite experimentat pot constitui semnale reducerea disponibilului in cont, cresterea frecventei apelului la liniile de credit, nerambursarea la termen, depunerea cu intarziere a rapoartelor financiare, etc. Odata ce se inregi
s
treaza o intarziere la plata, se pot lua o serie de masuri imediate, care presupun negocierea unui plan de masuri cu debitorul si revederea termenilor contractului de creditare. In politica de creditare trebuie sa se prevada ce poate sa afecteze renegocie
r
ea contractului; cel mai adesea sunt vizate scadentele (reesalonari), raportarile (frecvente si detailate), incheierea unor conventii suplimentare referitoare la limitarea activitatii debitorului si la gradul de implicare a bancii in luarea deciziilor man
ageriale, garantii suplimentare (reale si personale). 
\par }{\i\fs22\lang1036\langfe1033\langnp1036 Reglementarile legale}{\fs22\lang1036\langfe1033\langnp1036 
 reprezinta un element dinamic al mediului in care opereaza banca si, de aceea, politica de creditare trebuie sa reflecte nu numai starea actuala a sistemului de reglementari ci si,
 in masura in care acest lucru este posibil, cele mai probabile directii de concentrare a autoritatilor bancare. Reglementarile bancare echivaleaza cu impunerea unor limite si a unor interdictii referitoare la activitatea de creditare: operatii si volum. 
A
utoritatea bancara efectueaza inspectii periodice pentru a stabili gradul de respectare a a restrictiilor in vigoare la nivelul institutiei respective. Aceste inspecti au, de regula, un caracter periodic si urmaresc o serie de obiective, intre care: lichi
d
itatea si solvabilitatea bancii, incadrarea in normele legale in vigoare, calitatea si lichiditatea activelor bancare, precum si calitatea sistemelor proprii de protectie si control intern. In masura in care aceste lucruri sunt cunoscute de conducerea ban
c
ii si in baza experientei trecute a institutiei bancare, ele trebuie mentionate in politica de creditare pentru uzul tuturor functionarilor, astfel incat inspectia autoritatii bancare sa nu constituie pentru acestia un stress inutil si pentru ca ei sa aco
rde prioritate domeniilor vizate de inspectori.
\par Politica de creditare are un rol deosebit de important si pentru stabilirea unitara a criteriilor de }{\i\fs22\lang1036\langfe1033\langnp1036 stabilirea pretului}{\fs22\lang1036\langfe1033\langnp1036 
. Cel mai important element il reprezinta determinarea nivelului dobanzii percepute, a ra
tei acesteia. Trebuie prezentate toate procedurile de determinare a acesteia, modul lor de folosire si elementele in functie de care se poate stabili acest nivel: costul fondurilor bancare, primele de risc, comisioanele bancare, rata dobanzii pe piata, ra
t
a de baza sau preferentiala a dobanzii. In afara de aceste elemente, trebuie specificate si celelalte componente ale costului creditului pentru debitor, cum ar fi soldul minim creditor al contului acestuia sau alte servicii financiare oferite de banca cli
entului.
\par }{\i\fs22\lang1036\langfe1033\langnp1036 Informatiile financiare}{\fs22\lang1036\langfe1033\langnp1036 
 solicitate de la client trebuie sa fie si ele specificate in politica de creditare pentru a nu apare diferente semnificativede tratament intre cererile tratate de diferiti ofiteri de credite si intre diferiti clienti tratati
 de acelas ofiter. Accesul la aceste informatii necesita solicitarea rapoartelor financiare periodice si intocmirea situatiei financiare periodice si intocmirea situatiei financiare personale pentru actionari, directori, clienti individuali. Rapoartele fi
n
anciare periodice cele mai solicitate sunt bilantul si declaratia de impunere. Veridicitatea informatiilor continute de aceste rapoarte este asigurata prin expertizare, doar pentru firmele mari; problema principala o reprezinta debitorii mici, pentru care
 banca trebuie sa faca si verificari faptice (de garantie, de exemplu). La verificarea scriptica trebuie sa se urmareasca valoarea de inregistrare a activelor si daca activele sunt grevate de alte obligatii (eventual ipoteci). 
\par Politica de creditare este locul cel mai potrivit pentru a face toate precizarile necesare in legatura cu }{\i\fs22\lang1036\langfe1033\langnp1036 etica profesionala si conflictele de interese.}{\fs22\lang1036\langfe1033\langnp1036 
 Respectarea normelor (scrise sau nu) ale eticii profesiunii de bancher este esentiala pentru castigarea sau pastrarea increderii cli
entilor si a altor parteneri in probitatea personalului bancii.  Este un parametru esential al imaginii bancii si, cel mai adesea, se fac simtite efectele negative, ale nerespectarii acestor norme de etica. In vederea asigurarii unui nivel minim formal al
respectarii acestor norme, politica de creditare trebuie sa precizeze lista activitatilor interzise personalului, limitele operatiilor cu personalul, normele de transferare a informatiilor intre compartimentele bancii, precum si in afara acesteia si codur
ile de etica profesionala sau reglementari legale.
\par }{\i\fs22\lang1036\langfe1033\langnp1036 Examinarea si controlul periodic al calitatii creditelor }{\fs22\lang1036\langfe1033\langnp1036 
reprezinta un alt element esential al politicii de creditare, relativ recent in practica bancara, determinant pentru asigurarea unui nivel de risc mi
nim. Inspectarea periodica a portofoliului de credite trebuie definita prin obiectivele urmarite, formulata fara ambiguitati si organizata corespunzator. Obiectivele urmarite sunt:reducerea pierderilor la portofoliul de credite, detectarea prematura a ero
r
ilor si a problemelor, stimularea initiativei ofiterilor de credite pentru autocontrol si informare, respectarea standardelor formale de creditare prin verificarea dosarelor de creditare, respectarea normelor interne si a celor legale, informarea prin exc
e
ptie si periodica a conducerii cu privire la starea si evolutia calitatii portofoliului de credite, fundamentarea prelevarilor pentru pierderi. La fiecareinspectie se culeg, transmit si analizeaza informatii privind: starea financiara si capacitatea de ra
m
bursare a debitorului, documentatia (daca dosarul de credit este complet si actualizat), respectarea politicii de creditare a bancii, existenta si valoarea garantiilor, incadrarea in limitele stabilite de reglementarile legale si rentabilitatea aparenta. 
}{\fs22 In acest fel inspectia isi poate realiza functia esentiala de feed-back pentru conducerea bancii. }{\fs22\lang1036\langfe1033\langnp1036 
Evident, inspectarea tuturor dosarelor de credit nu este posibila, mai ales in grupa creditelor pentru particulari (numeroase si de valoare mica) pentru care r
entabilitatea plasamentului si marimea expunerii nu justifica cheltuielile de examinare. Exista, de aceea, mai multe metode de alegere a dosarelor de credit ce urmeaza a fi examinate. Una dintre acestea consta in stabilirea unui plafon minim al angajament
u
lui fata de banca, urmand ca toate creditele cu valori peste plafon sa fie supuse examinarii. Plafonul trebuie actualizat periodic in functie de inflatie, evolutia costurilor procesului de examinare si strategia bancii. O alta metoda este cea a selectiei 
a
leatoare a unui anumit numar de dosare de creditare in functie de restrictii date, de capacitate, sub forma timpului total disponibil al echipei de inspectori sau sub forma numarului maxim de dosare de creditare de examinat intr-un timp dat. Se poate folo
si si o combinatie a celor doua metode cu un plafon relativ ridicat si o examinare aleatoare a dosarelor situate sub plafonul valoric.
\par }{\b\fs22\lang1036\langfe1033\langnp1036 Partea a treia }{\fs22\lang1036\langfe1033\langnp1036 a politicii de creditare cuprinde }{\i\fs22\lang1036\langfe1033\langnp1036 normele de creditare}{\fs22\lang1036\langfe1033\langnp1036 
 pe tipuri de credite: credite imobiliare ipotecare, 
credite pentru constructii/investitii, credite pentru stocuri,  credite pe termen lung, credite pentru cumpararea unor bunuri mobile, credite agricole, credite personale si,  eventual, credite cumparate. Normele trebuie sa cuprinda descrierea tipului de c
redit, destinatia creditului, scadentele preferate, tarifarea (dobanda, rate, comisioane, solduri minime creditoare, etc.), plafoane (minime si/sau maxime), asigurarile, garantiile solicitate, procedura de aprobare a creditului.
\par 
\par }\pard \ql \li2902\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin2902\itap0 {\b\fs22\lang1036\langfe1033\langnp1036 3.3 Riscul individual de creditare
\par }\pard \qj \fi727\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\b\fs22\lang1036\langfe1033\langnp1036 
\par 
\par }{\fs22\lang1036\langfe1033\langnp1036 
Orice credit reprezinta o anticipare a unor incasari viitoare. Din aceasta perspectiva, fluxul de incasari, orice credit comporta riscul ca aceste incasari sa nu se realizeze deloc sau partial. Acest risc mai este numit si risc de insolvabilitate
 al creditorului; el este esential in activitatea bancara deoarece principala functie a unei banci o reprezinta acordarea de credite. Aprecierea justa a riscului de credit este, deci, de o importanta majora pentru banca. Fiind mai usor sa prevenim decat s
a vindecam, pentru minimizarea expunerii la risc, cea mai imprtanta etapa a procesului de creditare este selectarea cererilor de creditare.
\par In aceasta faza comportamentul unei banci poate fi astfel prezentat: un credit nu se acorda decat daca se poate estim
a ca probabilitatea rambursarii o depaseste pe cea a nerambursarii. Aprecierea acestei capacitati de rambursare se poate face, daca are la baza proceduri diferite, in functie de debitor: agentul economic, persoana privata, stat.
\par Analiza creditului reprezinta procesul de evaluare a riscului de creditare.
\par Riscul de creditare trebuie apreciat in functie de ceea ce banca se asteapta sa realizeze de pe urma creditarii. Procesul de creditare este potential purtator de castiguri; acestea se pot grupa in doua categorii: castiguri directe si castiguri indirecte. 
\par }{\i\fs22\lang1036\langfe1033\langnp1036 Castigurile directe }{\fs22\lang1036\langfe1033\langnp1036 
sunt imediate si, cel mai adesea, cuantificabile. Cele mai importante sunt dobanda si comisionul incasat de banca. La acestea se adauga soldul creditor minim al contului clientului, sold care reprezinta garantia creditului.
\par }{\i\fs22\lang1036\langfe1033\langnp1036 Castigurile indirecte }{\fs22\lang1036\langfe1033\langnp1036 
 sunt mult mai greu de cuantificat si mai incerte. Acordarea unui credit poate insa sa atraga dupa sine initierea sau mentinerea unei relatii, o crestere a depozitelor, precum si o crestere a unei cereri pentru alte servicii bancare. }{\fs22 
Ansamblul acestor castiguri trebuie avut in vedere atunci cand expunerea la risc este analizata si, eventual, acceptata. }{\fs22\lang1036\langfe1033\langnp1036 Evident, in contextul general al politicii de credit.
\par Analiza creditului este un proces care trebu
ie sa se deruleze periodic: inainte de derularea creditului in vederea deciziei de creditare si apoi, in functie de scadenta creditului, la intervale de timp determinate, de regula atunci cand rapoartele financiare ale clientului sunt puse la dispozitie.
\par Procesul de analiza a creditului are doua }{\b\fs22\lang1036\langfe1033\langnp1036 dimensiuni}{\fs22\lang1036\langfe1033\langnp1036 : o dimensiune calitativa si una cantitativa.
\par Dimensiunea }{\i\fs22\lang1036\langfe1033\langnp1036 cantitativa }{\fs22\lang1036\langfe1033\langnp1036 a analizei creditului are la baza o serie de activitati specifice de colectare, precum si interpretare a tuturor informatiilor referito
are la client, la care banca are acces. Acestea sunt: analiza datelor financiare, prognoza evolutiei viitoare a activitatii clientului, evaluarea capacitatii de rambursare prin analiza si prognoza fluxurilor viitoare anticipate de venituri si cheltuieli, 
e
valuarea capacitatii debitorului de a rezista la socuri. Rezultatele acestor activitati sunt relativ cuantificabile si pot contribui la fundamentarea unei decizii obiective privind expunerea bancii la risc, care rezulta din angajarea creditului analizat. 
Nu trebuie insa sa pierdem din vedere cea de-a doua dimensiune a procesului, si anume dimensiunea calitativa; ea poate completa in mod fericit rezultatele analizei cantitative sau (mai rar) le poate rasturna spectaculos.
\par Analiza }{\i\fs22\lang1036\langfe1033\langnp1036 calitativa}{\fs22\lang1036\langfe1033\langnp1036  presupune adunare
a si actualizarea tuturor informatiilor referitoare la responsabilitatea financiara a debitorului, determinarea scopului real al contractarii imprumutului, identificarea riscurilor cu care se poate confrunta debitorul si estimarea seriozitatii si implicar
ii debitorului in respectarea angajamentelor asumate fata de banca.
\par Elementele determinante ale gestiunii riscului individual de creditare sunt: capacitatea de plata, caracterul debitorului \endash  dorinta sa de a face plata, capitalul \endash  averea debitorului, garan
tia (reala sau personala), conditiile de mediu. Dintre acesti cinci factori primul este cel mai important.
\par Se apreciaza ca principalele slabiciuni in aprecierea riscului de creditare sunt unele de ordin intern: selectia defectuasa a dosarelor si supravegherea interna improprie a evolutiei (practic a involutiei) calitatii debitorilor. Riscul de selectie impropr
ie a dosarelor poate fi minimizat prin: rigoare in continutul dosarelor, apreciere interna a calitatii clientilor pe baze unitare, prin punctaj, dubla avizare a deciziei de creditare si stabilirea  unei marje corespunzatoare a dobanzii percepute.
\par Sunt credi
te de valori mari si de o mare diversitate ca scadente, destinatii, garantii. Multa vreme selectia lor s-a facut exclusiv in functie de experienta, interpretarea informatiilor si simtul afacerilor de care dau dovada bancherii. Si in prezent exista doua }{
\i\fs22\lang1036\langfe1033\langnp1036 modalitati}{\fs22\lang1036\langfe1033\langnp1036  de tratare a cererii de creditare: abordarea clasica si cea moderna.
\par In }{\b\fs22\lang1036\langfe1033\langnp1036 abordarea clasica }{\fs22\lang1036\langfe1033\langnp1036 sunt evaluate si comparate doua elemente: }{\i\fs22\lang1036\langfe1033\langnp1036 nevoia de finantare si cererea de creditare
\par Nevoile de finantare }{\fs22\lang1036\langfe1033\langnp1036 pot fi pentru investitii sau pentru exploatare. 
\par Nevoile de finantare a }{\i\fs22\lang1036\langfe1033\langnp1036 investitiilor }{\fs22\lang1036\langfe1033\langnp1036 
se caracterizeaza prin valori ridicate si caracterul punctual al cererii. Dosarul proiectului de investitii poate fi intocmit de intreprindere (client potential), de un expert sau chiar de banca. Intocmirea dosarului proi
ectului de investitii pentru client este varianta de preferat daca banca dispune de suficiente resurse si expertiza necesara (personal calificat). Este solutia cea mai avantajoasa deoarece asigura bancii venituri suplimentare, ocuparea specialistilor prop
r
ii in evaluari de proiecte de investitii si o baza de date omogena care permite stabilirea unui algoritm unitar de evaluare a proiectelor clientilor. Pe de o alta parte, trebuie ca banca sa clarifice de la inceput cu clientul postura in care acesta contra
c
teaza intocmirea proiectului de investitii: este un serviciu de expertiza pe care il cumpara de la o banca si acesta nu are nici o legatura cu sansele proiectului de a fi finantat de catre banca. Faptul ca dosarul proiectului a fost intocmit de catre un s
erviciu specializat al bancii nu asigura si o probabilitate mai mare de acceptare a lui de finantare.
\par Analiza nevoii de finantare se face in cadrul unui plan de finantare previzional: sunt analizate nevoile si resursele financiare de perspectiva, brute, apo
i completate cu credite bancare. Pentru acest tip de proiecte regula prudentiala ce trebuie respectata este ca banca nu trebuie niciodata sa finanteze integral (100%) proiectul de investitii al clientului. Oricat de mica procentual (si este de competenta 
conducerii bancii sa stabileasca o limita minima prin politica de creditare) contributia clientului sa fie efectiva si din punct de vedere financiar. In acest fel el isi asuma cu mai multa responsabilitate raspunderea pentru derularea proiectului.
\par Nevoile de finantare a }{\i\fs22\lang1036\langfe1033\langnp1036 cheltuielilor curente }{\fs22\lang1036\langfe1033\langnp1036 
 au alte caracteristici: sunt de valori mai reduse si sunt relativ permanente. Nevoile de acest tip se pot determina planificand fondul de rulment sau in cadrul planului de trezorerie. Este imperios necesar ca functionar
ul bancii care este responsabil de relatia cu clientul respectiv sa verifice atat informatiile, cat si algoritmul care a stat la baza nevoii de finantare. Apoi bancherul poate propune un "montaj financiar" adecvat, adica o combinatie de credite pe termen 
scurt care sa acopere nevoia de finantare a clientului. 
\par Cea de-a doua etapa a analizei creditului in abordarea clasica este }{\b\fs22\lang1036\langfe1033\langnp1036 studiul cererii de creditare. }{\fs22\lang1036\langfe1033\langnp1036 
Analiza riscului asociat implica parcurgerea urmatoarelor etape: identificarea, evaluarea si prevenirea riscului de creditare. 
\par }{\i\fs22\lang1036\langfe1033\langnp1036 Identificarea si evaluarea riscului}{\fs22\lang1036\langfe1033\langnp1036 
 de creditare presupune definirea acestuia, a cauzelor majore de risc si cuantificarea expunerii la risc. Riscul de creditare este cauzat de perturbatii in fluxul de incasari anticipat la analiza
 cererii de creditare. Pentru fiecare debitor aceste perturbatii pot genera insolvabilitate. Factorii care genereaza insolvabilitate pot fi grupati in factori externi si factori interni fara a se putea distinge intre cele doua categorii in ceea ce privest
e amplitudinea expunerii la risc pe care o genereaza. 
\par }{\i\fs22\lang1036\langfe1033\langnp1036 Factorii interni }{\fs22\lang1036\langfe1033\langnp1036 
sunt aproape integral asociati unei conduceri defectuoase: de aceea, aprecierea profesionalismului echipei de conducere sau a partenerului insusi (in cazul micilor intreprinderi), repre
zinta un element atat de important in cadrul procesului de analiza a riscului de creditare. De asemenea, trebuie apreciat caracterul debitorului \endash 
 dorinta sa de a face plati pe care le implica achitarea creditului primit. Este extrem de greu de apreciat pentru clientii noi si necesita o informatie extensiva.
\par }{\i\fs22\lang1036\langfe1033\langnp1036 Factorii externi }{\fs22\lang1036\langfe1033\langnp1036 
- relativ la client - se pot grupa in factori politici, economici si bancari. Ei actioneaza asupra unei grupe intregi de clienti si, de aceea, identificarea si evaluarea acestora se fac
e pentru sectoare de activitate, de catre specialisti din banca, folosind si informatii de uz intern. Bancile mici pot cumpara servicii de analiza ale institutiilor mai mari sau ale unor institute de cercetari specializate, dar, in acest caz, nu pot fi va
lorificate informatiile interne protejate de sectorul banca.
\par Factorii politici au la baza o decizie politica ce are efecte sensibile asupra capacitatii de rambursare a debitorului. Ei pot imbraca diverse forme, intre care, embargoul, modificarea politicii e
nergetice, schimbarea de regim valutar sau de politica monetara, modificarea tarifelor vamale, etc. Factorii economici sunt cel mai adesea legati de crize \endash  cu caracter ciclic sau sectoriale \endash 
 care afecteaza pietele pe care opereaza clientul.
\par }{\i\fs22\lang1036\langfe1033\langnp1036 Minimizarea expunerii bancii la risc }{\fs22\lang1036\langfe1033\langnp1036 
se face, cel mai adesea, prin cresterea costului creditului (inasprirea conditiilor de creditare) si prin luarea de garantii. Este insa demn de retinut faptul ca garantiile nu sunt o protectie sigura pentru creditor. Valoarea de pia
ta a activelor se poate diminua semnificativ si, chiar daca ea se conserva, pot exista alti creditori, privilegiati fata de banca si chiar la 125% garantie activul ramas poate fi insuficient pentru acoperirea datoriilor.
\par }{\b\fs22\lang1036\langfe1033\langnp1036 Abordarea traditionala }{\fs22\lang1036\langfe1033\langnp1036  are la baza
 proceduri relativ laborioase si prezinta o serie de limite care nu sunt usor de ignorat: majoritatea deciziilor au un caracter preponderent subiectiv, analiza informatiei este mai secventiala, procesul are o durata mai mare si un cost mai ridicat. 
\par }{\b\fs22 Abordarea moderna }{\fs22 a analizei creditului se bazeaza pe credit scoring. Credit scoring-ul consta in evaluarea creditului pe baza de punctaj.
\par Prin introducerea si generalizarea evaluarii pe baza de punctaj s-a urmarit realizarea unor }{\i\fs22 obiective }{\fs22 specifice, intre care:
\par -cresterea calitatii creditelor prin formalizarea si impunerea unor norme unice de creditare;
\par -reducerea costului evaluarii prin standardizarea procedurilor si folosirea sistemelor expert sau a unor algoritmi;
\par -cresterea productivitatii si satisfactiei inspectorilor prin eliminarea activitatilor de rutina, cresterea responsabilitatii lor; 
\par -imbunatatirea performantelor procedurilor de control a creditelor, inspectorilor, unitatilor operative;
\par -facilitarea modificarilor de strategie de creditare;
\par -selectia clientilor in functie de calitate;
\par -formalizarea procedurilor si minimizarea erorilor si a riscurilor de ordin subiectiv.
\par }{\fs22\lang1036\langfe1033\langnp1036 Exploatarea curenta a evaluarii pe baza de punctaj presupune parcurgerea urmatoarelor etape:
\par -identificarea caracteristicilor esentiale ale dosarului de creditare; dintre acestea trebuie selectate maxim zece, datorita gradului relativ scazut de independenta (in sens statistic) a variabilelor; 
\par }{\fs22 -ponderea caracteristicilor selectate; 
\par -(re)calcularea punctajului creditului prin insumarea punctelor atribuite;
\par -stabilirea categoriei careia ii apartine creditul.
\par In faza de implementare a sistemului de evaluare sunt esentiale procedurile de stabilire a baremurilor si testarea modelului.
\par }{\fs22\lang1036\langfe1033\langnp1036 Analiza statistica care sta la baza modelului poate fi uni-sau multicriteriala.
\par Cele mai multe banci romanesti folosesc un sistem de punctaj bazat pe calculul valorii unor indicatori de baza ai firmelor debitoare; in functie de valoarea acestora se acorda 
puncte, care sunt apoi adunate, pentru a se determina valoarea punctajului firmei si pentru a se incadra aceasta intr-o anumita clasa de risc.
\par Ca analiza multicriteriala, putem cita criteriul elaborat de Altman, in 1968. Punctajul Z sau }{\i\fs22\lang1036\langfe1033\langnp1036 scorul Altman}{\fs22\lang1036\langfe1033\langnp1036  este,
 de fapt o functie de corectie la valoarea variabilei rezultante \endash 
 Z -  se determina in functie de valoarea a cinci variabile interdependente si a coeficientilor de corectie. Pentru exemplificare, vom prezenta functia cu coeficientii calculati de Altman initial: 
\par Z =1.2X1 +1.4X2 +3.3X3 +0.6X4 +1.0X5, unde 
\par X1 : capitalul circulant/total active;
\par X2 : rezultatul exercitiului/total active;
\par X3 : rezultatul inainte de impozitare/total active;
\par X4 : valoarea de piata a actiunilor/total datorii;
\par X5 : total vanzari/total active.
\par Aprecierea firmelor in functie de scorul Altman conduce la incadrarea acestora intr-una din grupele urmatoare:
\par -firme solvabile: Z<=1.81;
\par -firme in dificultate: 1.81<Z<2.99;
\par -firme sanatoase: Z>=2.99
\par In anul 1968 Altman a stabilit coeficienti
i de corelatie pe baza unui esantion semnificativ de firme in situatie de faliment, care totusi au supravietuit. El a stabilit, de fapt, gradul de corelatie dintre cei cinci indicatori si starea de faliment. Analiza statica a datelor din esantion ar fi pe
rmis sa se prezica falimentul, pentru trei sferturi din firme, cu doi ani inainte de aparitia starii de faliment.
\par Valoarea coeficientilor de corelatie este insa relativ dinamica in timp si extrem de dependenta de starea si structura economiei in care operea
za firmele analizate. Calculele de corelatie trebuie actualizate periodic, de preferat de fiecare banca, in functie de structura portofoliului sau de clientii institutionali si de evolutia conditiilor de mediu economic.
\par Creditarea persoanelor particulare r
eprezinta un domeniu distinct de activitate bancara desi, mult timp, indatorarea unei persoane, mai ales pe termen scurt, a parut suspecta, la fel ca si traiul peste mijloacele la care cineva poate dispune. Familiile degaja in mod traditional un excedent 
d
e resurse financiare, iar apelul la credite era un fenomen de exceptie, ocazionat de evenimente unice, precum cumpararea unei locuinte sau a unui automobil. Creditele pentru particulari sunt relativ mai putin rentabile pentru banci si doar diminuarea piet
e
lor traditionale a determinat bancile sa se extinda si in domeniul creditului si pentru particulari. In Romania piata este putin dezvoltata, deoarece predomina activitatile bancare traditionale de creditare a intreprinderilor, activitati care sunt insa su
f
icient de rentabile, in lipsa unor dezvoltari normale a pietelor financiare care sa faciliteze transferul direct a resurselor financiare. Este insa de asteptat ca, odata cu cresterea veniturilor reale ale populatiei, relansarea economiei si extinderea fol
o
sirii de catre intreprideri a altor modalitati de finantare decat creditul bancar, bancile sa se orienteze si spre acest domeniu pentru fructificarea fondurilor pe care le gestioneaza. In plus, aceste credite de valori mici sunt si foarte bine diversifica
te in portofoliu prin destinatii, garantii si debitori.
\par Creditele contractate de persoane particulare sunt de doua feluri: credite pe termen scurt pentru acoperirea unor decalaje temporare intre venituri si cheltuieli si credite pe termen lung pentru finant
area unor investitii imobiliare. Pentru analiza dosarelor de credit ale clientilor, bancile recurg la doua }{\i\fs22\lang1036\langfe1033\langnp1036 modalitati}{\fs22\lang1036\langfe1033\langnp1036  de tratare: abordarea clasica si cea moderna. 
\par Esenta }{\b\fs22\lang1036\langfe1033\langnp1036 abordarii clasice }{\fs22\lang1036\langfe1033\langnp1036 a analizei creditului particular consta in aprecierea capacitatii 
de rambursare a solicitantului (si ei), astfel incat ratele de rambursat (inclusiv dobanzile) sa fie rezonabile in raport cu veniturile sale medii. De cele mai multe ori, acordarea creditului implica si constituirea unor garantii pentru eventualitatea in 
c
azul riscului de insolvabilitate se manifesta. In cazul dosarelor particularilor, analiza nevoilor de finantare este minima, ea urmarind daca, in cazul in care exista un obiect de creditat valoarea acestuia este reala dar aceasta etapa este impusa mai ale
s de necesitatea verificarii garantiilor oferite, atunci cand bunul cumparat prin credit se constituie in garantie pentru creditor. Astfel, esenta procesului de analiza a creditului consta in analiza cererii de creditare. 
\par In functie de destinatia lor, }{\b\fs22\lang1036\langfe1033\langnp1036 creditele particulare pe termen scurt}{\fs22\lang1036\langfe1033\langnp1036  sunt credite de consum si credite personale.
\par }{\i\fs22\lang1036\langfe1033\langnp1036 Creditele de consum }{\fs22\lang1036\langfe1033\langnp1036 
sunt acordate pentru cumparari de marfuri cu plata in rate, marfuri care constituie, de regula, si garantia creditului. Pe piata acestor credite bancile sunt puternic concurate de societati de credit de consum si de cooperative de credit.
\par }{\i\fs22\lang1036\langfe1033\langnp1036 Creditele personale }{\fs22\lang1036\langfe1033\langnp1036 sunt, de regula, plafonate absolut-indiferent de veniturile clientului si destinatia creditului, pentru ca aceste informatii nici nu sunt solicitate de ba
nca. Ea imprumuta o anumita suma (oferta limitata, de regula, de la doua-trei ori valoarea veniturilor medii lunare) cu o scadenta precisa si o rata a dobanzii relativ ridicata; clientul poate folosi banii dupa bunul sau plac, cu conditia sa ramburseze la
 scadenta; este o piata in dezvoltare, pe care bancile concureaza agresiv.
\par }{\i\fs22\lang1036\langfe1033\langnp1036 Aprecierea calitatii debitorului }{\fs22\lang1036\langfe1033\langnp1036 se face in functie de venituri : regula este ca valoarea creditului acordat sa nu depaseasca veniturile incasate pe o perioada de doua luni.
\par }{\i\fs22\lang1036\langfe1033\langnp1036 Identificarea si evaluarea cauzelor insolvabilitatii }{\fs22\lang1036\langfe1033\langnp1036 
se face pentru doua grupe distincte: cauzele obiective, legate de mediul de activitate si cele subiective, care tin mai ales de caracterul clientului. In functie de natura veniturilor (salariale sau nu), d
e marimea si periodicitatea acestora, de existenta altor angajamente de onorat si de caracterul clientului, banca poate stabili daca probabilitatea de rambursare este suficient de ridicata pentru a acorda creditul.
\par }{\i\fs22\lang1036\langfe1033\langnp1036 Protectia }{\fs22\lang1036\langfe1033\langnp1036 se realizeaza in mod diferit, in functie de cauze; pentru cele }{\i\fs22\lang1036\langfe1033\langnp1036 obiective}{\fs22\lang1036\langfe1033\langnp1036 
, ambientale, esentiale sunt existenta si permanenta veniturilor, precum si posibilitatea rambursarii. Ambele elemente sunt la fel de importante caci veniturile sigure, oricat de mari, nu garanteaza rambursarea; tre
buie avute in vedere ansamblul obligatiilor contractate anterior, atat de banca, cat si de alte institutii financiare. Accesul la aceste informatii este aproape imposibil si banca trebuie sa se bazeze pe declaratia de incredere facuta de client. Este posi
b
il ca veniturile acestuia sa fie grevate de obligatii de plata, cum ar fi pensia alimentara, rate de asigurari, rate de consum, etc. care diminueaza posibilitatea rambursarii. De aceea, este mai corect ca, atunci cand vorbim de venituri si marimea lor, sa
 avem in vedere veniturile nete, diminuate cu obligatiile certe.
\par In ceea ce priveste cauzele }{\i\fs22\lang1036\langfe1033\langnp1036 subiective,}{\fs22\lang1036\langfe1033\langnp1036 
 banca trebuie sa se bazeze, in primul rand, pe calitatile persoanei de contact care negociaza cu clientul si culege informatiile referitoare la el. Pent
ru a evita suspiciunea de subiectivism functionarii sunt extrem de prudenti in lipsa unor elemente care sa fundamenteze decizia lor. Ideal ar fi daca bancile ar constitui un fisier central al incidentelor de rambursare, dar in multe tari aceasta contravin
e legislatiei referitoare la protectia datelor cu caracter personal. In acest context clientii vechi (relativ) favorizati fata de cei noi pentru ca, in ceea ce ii priveste, banca dispune de datele privind functionarea contului.
\par In Romania rau platnicii vor 
fi monitorizati public prin Centrala Incidentelor de Plati (CIP) operationala de la 1 decembrie 1996. CIP este un intermediar care gestioneaza, in numele BNR, informatiile bancare privind neindeplinirea la timp sau intocmai, inainte sau in timpul procesul
u
i de dcontare a instrumentelor de plata, a obligatiilor rezultate prin contract sau prin efectul legii. Informatiile prezentate sunt numite incidente de plata si sunt arhivate pe o perioada de cinci ani in Fisierul National de Incidente de Plati (FNIP) ca
r
e are trei componente: Fisierul National de Cecuri (FNC), Fisierul National de Cambii (FNCb) si Fisierul National de Bilete de Ordin (FNBO). In plus, exista un Fisier National al Persoanelor cu Risc (FNPR)  pentru incidente in care au fost implicate perso
a
ne fizice sau juridice. Sistemul de fisiere poate fi extins la cererea utilizatorilor sau din proprie initiativa, inclusiv pentru tratarea incidentelor cu carti de credit. Informatiile provin de la institutiile bancare si sunt accesibile utilizatorilor ag
reati contra unui comision, a unor speze sau a abonamentelor de consultare. Utilizatorii agreati sunt: bancile (centrale sau unitati teritoriale), sucursale BNR, Directia urmaririi riscurilor bancare si alti utilizatori.
\par Trei sunt }{\i\fs22\lang1036\langfe1033\langnp1036 regulile}{\fs22\lang1036\langfe1033\langnp1036  practice pentru m
inimizarea riscului la creditele pe termen scurt prin analiza cererii de creditare a solicitantului: creditul sa fie de valoare rezonabila, sa existe surse stabile de venit si sa nu existe incidente anterioare de plata. Respectarea acestor reguli de bun s
imt nu poate garanta rambursarea integrala a creditelor acordate si nici ca nu sunt respinsi debitorii solvabili dar elimina majoritatea incidentelor de rambursare. 
\par Pentru }{\b\fs22\lang1036\langfe1033\langnp1036 creditele pe termen mijlociu si lung }{\fs22\lang1036\langfe1033\langnp1036 obiectul creditului il reprezinta cumpararea sau efectuarea de lucrari la bunuri imobiliare.
\par Valoarea creditului este sensibil mai ridicata in cazul creditelor pe termen scurt. Cauzele insolvabilitatii sunt insa aceleasi cu o probabilitate de aparitie mai 
ridicata deoarece si creditarea este pe termen lung. Protectia este mai greu de realizat deoarece termenul mai lung sporeste incertitudinea, atat in ceea ce priveste veniturile, cat si comportamentul debitorului. Se impune, deci, solicitarea de garantii s
ub forma asigurarilor de viata pentru debitor cu beneficiar de asigurare banca si sub forma de ipoteci si alte forme de garantie legale. 
\par In practica regula care se aplica (formalizata sau nu in politica de creditare) este aceea ca ratele lunare nu trebuie 
sa depaseasca 25% din veniturile lunare ale solicitantului. Nici ea nu protejeaza perfect caci acestea pot sa nu fie veniturile nete si dupa contractarea creditului, s-ar putea (si este chiar foarte probabil) ca pana la scadenta clientul sa contracteze al
t
e datorii care sa determine cresterea ponderii ratei de rambursat fata de veniturile nete. De aceea se stabileste, de regula, ca doar 25% pot fi suportate fara probleme si rate de rambursare relativ mai ridicate. In stabilirea acestui procent importanta e
ste si structura bugetelor de familie, serios perturbata in perioade de inflatie ridicata, mai ales pentru familiile cu buget mic. 
\par }{\b\fs22\lang1036\langfe1033\langnp1036 Abordarea moderata }{\fs22\lang1036\langfe1033\langnp1036 bazata pe credit scoring urmareste sintetizarea riscului de nerambursare cu ajutorul unei note. Este o pro
cedura folosita mai ales pentru creditele pe termen scurt, pentru ca:
\par -aceste credite au valori mici (intre 200 si 4000$ sau echivalent lei) deci analiza dosarului nu poate fi costisitoare;
\par -dosarele trebuie tratate rapid deoarece solicitantii vor sa cunoasca raspunsul intr-un termen cat mai scurt pentru a se putea adresa, eventual, altei banci;
\par -debitorii trebuie sa prezinte o oarecare omogenitate comportamentala, astfel incat criteriile decizionale sa fie valabile pentru toti si pentru a se preta la evaluarea pe baza de punctaj;
\par -creditele trebuie, si ele, sa fie comparabile ca marime, obiect al creditului si scadentei pentru ca riscurile sa fie comparabile.
\par Extrem de importanta ramane actualizarea baremurilor si a ponderilor care stau la baza deciziei de acordare a creditului.
\par Analiza discriminatorie a unui esantion de dosare debuteaza prin determinarea criteriilor de solvabilitate. Aceasta se bazeaza pe analiza corelatiei dintre fiecare informatie referitoare la debitor si calitatea acestuia: rau sau bun 
platnic. Din aceasta analiza rezulta doua portrete robot. Se determina apoi nota finala: fiecare criteriu asupra caruia s-a cazut de acord are o pondere (punctaj) stabilita in functie de importanta sa, asa cum rezulta din analiza discriminatorie. Apoi se 
aduna punctele atribuite fiecarui criteriu si rezulta nota. 
\par Problema majora este stabilirea baremurilor. Pentru aceasta trebuie sa se analizeze toate dosarele acceptate si se stabileste distributia (normala). Preferabil este sa se stabileasca doua baremuri
 (distributii) si se analizeaza apoi de catre inspector doar dosarele cu punctaj intermediar. Dosarele cu punctaj peste baremul maxim sunt acceptate, cele cu punctaj sub baremul inferior sunt respinse. Cea mai importanta este stabilirea baremului inferior
,
 pentru ca el duce la eliminarea automata a unor dosare. Criteriul trebuie sa fie dat de maximizarea profitului bancar: nota limita inferioara optima este cea care elimina cat mai multi clienti si rai platnici si cat mai putin buni platnici. Pentru aceast
a trebuie sa se cunoasca profitul mediu la un bun client/creditor rau si pierderea medie la un client creditor rau sau macar raportul acestor doua marimi. 
\par Organizarea si structura procesului de creditare a clientilor particulari pot fi folosite ca instrume
nte efective de minimizare a expunerii la risc. Utilizarea lor constienta in acest scop precis sta la baza gestiunii preventive a riscului clientului in mod activ.
\par }{\b\fs22\lang1036\langfe1033\langnp1036 Abordarea clasica}{\fs22\lang1036\langfe1033\langnp1036  in acest domeniu (modul relativ de gestiune a procesului de creditare) are
 la baza organizarea distincta a activitatii de creditare la nivelul a doua compartimente ale bancii: ghiseul sau front office insarcinat cu intocmirea dosarelor de creditare si trierea acestora si biroul de creditare a particularilor sau back office care
 asigura gestiunea evenimentelor posterioare acceptarii creditului, pe parcursul derularii relatiei cu debitorul. 
\par In acest context gestiunea riscurilor este concentrata la nivelul front office unde dosarele sunt selectate folosind diverse proceduri, intre 
care credit scoring iar protectia impotriva riscurilor este asigurata prin solicitarea unor garantii traditionale.
\par Odata procesul de creditare initiat, incidentele sunt tratate de un compartiment de recuperare a creantelor si doar cazurile cele mai grave antreneaza deschiderea unui contencios periculos pentru institutie (cheltuieli mari). }{\fs22 
In perioadele de criza se inregistreaza o crestere accelerata a numarului dosarelor cu probleme. }{\fs22\lang1036\langfe1033\langnp1036 Reactia clasica a institutiilor  de credit implica, pe de o parte, modific
area baremurilor de la evaluarea pe baza de punctaj, iar pe de alta parte cresterea efectivelor arondate compartimentului de recuperare a creantelor. Acest ansamblu de raspunsuri reprezinta un mod reactiv de a actiona doar dupa ce incidentul s-a produs. E
ste o politica periculoasa, caci adesea este prea tarziu pentru a mai putea recupera integral creanta, iar cheltuielile pot deveni semnificative (relativ la talia creditului). 
\par Lantul tratarii dosarului debuteaza deci prin intocmirea acestuia de catre personalul front office. Identificarea si evaluarea riscului se fac intr-o maniera globala si, in functie de aceasta evaluare de ansamblu, banca se angajeaza sau nu.
\par 
\par }\trowd \trleft1341\trhdr\trftsWidth1 \clvertalt\clbrdrt\brdrs\brdrw5\brdrcf1 \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth5734 \cellx7075\pard\plain 
\s22\qc \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \b\i\fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 Client\cell }\pard\plain 
\ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 \trowd \trleft1341\trhdr\trftsWidth1 \clvertalt\clbrdrt\brdrs\brdrw5\brdrcf1 \clbrdrl\brdrs\brdrw5\brdrcf1 
\clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth5734 \cellx7075\row }\trowd \trleft1341\trftsWidth1 \clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth656 \cellx1997\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2157 \cellx4154\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrnone \clbrdrr
\brdrnone \cltxlrtb\clftsWidth3\clwWidth2921 \cellx7075\pard\plain \s21\qc \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 \cell \cell \cell }\pard\plain 
\ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 \trowd \trleft1341\trftsWidth1 \clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr
\brdrnone \cltxlrtb\clftsWidth3\clwWidth656 \cellx1997\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2157 \cellx4154\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb
\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2921 \cellx7075\row }\trowd \trleft1341\trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw5\brdrcf1 \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth656 \cellx1997\clvertalt\clbrdrt\brdrs\brdrw5\brdrcf1 \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth5078 \cellx7075\pard\plain 
\s21\qc \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 FO\cell }\pard 
\s21\qc \li0\ri0\sa120\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22 Dosar creditare 
\par identificare + evaluare risc
\par }\pard \s21\qc \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22 acordare credit \cell }\pard\plain \ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 
\fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 \trowd \trleft1341\trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw5\brdrcf1 \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth656 
\cellx1997\clvertalt\clbrdrt\brdrs\brdrw5\brdrcf1 \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth5078 \cellx7075\row }\trowd \trleft1341\trftsWidth1 \clvertalc\clbrdrt\brdrnone 
\clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth656 \cellx1997\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2157 \cellx4154\clvertalt\clbrdrt\brdrnone 
\clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2921 \cellx7075\pard\plain \s21\qc \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 
\fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 \cell \cell \cell }\pard\plain \ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 \trowd 
\trleft1341\trftsWidth1 \clvertalc\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth656 \cellx1997\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth2157 \cellx4154\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2921 \cellx7075\row }\trowd \trleft1341\trftsWidth1 \clvertalc\clbrdrt
\brdrs\brdrw5\brdrcf1 \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth656 \cellx1997\clvertalt\clbrdrt\brdrs\brdrw5\brdrcf1 \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr
\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth5078 \cellx7075\pard\plain \s21\qc \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 BO\cell }\pard 
\s21\qc \li0\ri0\sa120\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22 Gestiunea evenimentelor
\par }\pard \s21\qc \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22 reglarea incidentelor\cell }\pard\plain \ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 
\fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 \trowd \trleft1341\trftsWidth1 \clvertalc\clbrdrt\brdrs\brdrw5\brdrcf1 \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth656 
\cellx1997\clvertalt\clbrdrt\brdrs\brdrw5\brdrcf1 \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth5078 \cellx7075\row }\pard 
\qj \fi727\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\fs22 
\par }\pard \qc \fi727\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\i\fs22 Repartizarea sarcinilor intre front office si back office
\par }{\i\fs22\lang1036\langfe1033\langnp1036 in abordarea clasica
\par }\pard \qj \fi727\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\fs22\lang1036\langfe1033\langnp1036 
\par In cea dea doua etapa de acordare a creditului, serviciile administrative preiau dosarul de la cele comerciale. Se trece deci de
 la o viziune globala asupra clientului la una operationala, a angajamentului bancar care acopera integral sau partial cererea clientului.
\par Cea de-a treia etapa presupune gestiune efectiva a dosarului de creditare si debuteaza printr-un transfer de responsabilitate la echipa de back office. Aceasta raspunde de derularea normala a procesului de creditare si de gestiunea evenimentelor pe parcur
s
ul perioadei de valabilitate a dosarului: deblocarea fondurilor, inregistrarea platilor, amanarea (eventuala) a scadentelor. Rationamentul evolueaza de la notiune de client la cea de scadentar: aprecierea riscului se face vis-a-vis de incadrarea sau nu in
disciplina de plati stabilita initial si, deci, a posteriori, dupa constatarea unui incident la rambursare. Reactualizarea scadentelor este cel mai adesea efectuata direct de back-office si serviciile financiare ale clientului. Cum acestea nu au o viziune
 globala asupra clientului, solutia poate sa nu corespunda nici macar imaginii initiale a clientului si, cu atat mai putin, calitatile sale actuale.
\par 
\par }\trowd \trhdr\trftsWidth1 \clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx1384\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth1384 \cellx2768\clvertalt\clbrdrt\brdrs\brdrw5\brdrcf1 \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth2768 \cellx5536\clvertalt\clbrdrt\brdrnone 
\clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx6920\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx8304\pard\plain 
\s22\qc \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \b\i\fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22\lang1036\langfe1033\langnp1036 \cell \cell }{\b0\i0\fs22 Incident la scadenta\cell }{\fs22 \cell 
\cell }\pard\plain \ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 \trowd \trhdr\trftsWidth1 \clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb
\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx1384\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx2768\clvertalt\clbrdrt\brdrs\brdrw5\brdrcf1 \clbrdrl
\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth2768 \cellx5536\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx6920
\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx8304\row }\trowd \trftsWidth1 \clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth1384 \cellx1384\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx2768\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth1384 \cellx4152\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx5536\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone 
\clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx6920\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx8304\pard\plain 
\s21\qc \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 \cell \cell \cell \cell \cell \cell }\pard\plain 
\ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 \trowd \trftsWidth1 \clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth1384 \cellx1384\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx2768\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth1384 \cellx4152\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx5536\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone 
\clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx6920\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx8304\row }\trowd \trftsWidth1 \clvertalt\clbrdrt\brdrnone \clbrdrl
\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx1384\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx2768\clvertalt\clbrdrt
\brdrs\brdrw5\brdrcf1 \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth2768 \cellx5536\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth1384 \cellx6920\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx8304\pard\plain 
\s21\qc \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 \cell \cell Detectie la BO\cell \cell \cell }\pard\plain 
\ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 \trowd \trftsWidth1 \clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth1384 \cellx1384\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx2768\clvertalt\clbrdrt\brdrs\brdrw5\brdrcf1 \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb
\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth2768 \cellx5536\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx6920\clvertalt\clbrdrt\brdrnone 
\clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx8304\row }\trowd \trftsWidth1 \clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx1384
\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx2768\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx4152
\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx5536\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth1384 \cellx6920\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx8304\pard\plain 
\s21\qc \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 \cell \cell \cell \cell \cell \cell }\pard\plain 
\ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 \trowd \trftsWidth1 \clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth1384 \cellx1384\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx2768\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth1384 \cellx4152\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx5536\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone 
\clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx6920\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx8304\row }\trowd \trftsWidth1 \clvertalt\clbrdrt\brdrnone \clbrdrl
\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx1384\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx2768\clvertalt\clbrdrt
\brdrs\brdrw5\brdrcf1 \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth2768 \cellx5536\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth1384 \cellx6920\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx8304\pard\plain 
\s21\qc \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 \cell \cell Actiune la FO\cell \cell \cell }\pard\plain 
\ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 \trowd \trftsWidth1 \clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth1384 \cellx1384\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx2768\clvertalt\clbrdrt\brdrs\brdrw5\brdrcf1 \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb
\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth2768 \cellx5536\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx6920\clvertalt\clbrdrt\brdrnone 
\clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx8304\row }\trowd \trftsWidth1 \clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx1384
\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx2768\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx4152
\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx5536\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth1384 \cellx6920\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx8304\pard\plain 
\s21\qc \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 \cell \cell \cell \cell \cell \cell }\pard\plain 
\ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 \trowd \trftsWidth1 \clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth1384 \cellx1384\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx2768\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth1384 \cellx4152\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx5536\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone 
\clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx6920\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx8304\row }\trowd \trftsWidth1 \clvertalt\clbrdrt\brdrnone \clbrdrl
\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx1384\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx2768\clvertalt\clbrdrt
\brdrs\brdrw5\brdrcf1 \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth2768 \cellx5536\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth1384 \cellx6920\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx8304\pard\plain 
\s21\qc \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 \cell \cell Client\cell \cell \cell }\pard\plain 
\ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 \trowd \trftsWidth1 \clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth1384 \cellx1384\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx2768\clvertalt\clbrdrt\brdrs\brdrw5\brdrcf1 \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb
\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth2768 \cellx5536\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx6920\clvertalt\clbrdrt\brdrnone 
\clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx8304\row }\trowd \trftsWidth1 \clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx1384
\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx2768\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx4152
\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx5536\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth1384 \cellx6920\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx8304\pard\plain 
\s21\qc \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 \cell \cell \cell \cell \cell \cell }\pard\plain 
\ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 \trowd \trftsWidth1 \clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth1384 \cellx1384\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx2768\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth1384 \cellx4152\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx5536\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone 
\clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx6920\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx8304\row }\trowd \trftsWidth1 \clvertalt\clbrdrt\brdrnone \clbrdrl
\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx1384\clvertalt\clbrdrt\brdrs\brdrw5\brdrcf1 \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx2768\clvertalt
\clbrdrt\brdrs\brdrw5\brdrcf1 \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx4152\clvertalt\clbrdrt\brdrs\brdrw5\brdrcf1 \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth1384 \cellx5536\clvertalt\clbrdrt\brdrs\brdrw5\brdrcf1 \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth1384 \cellx6920\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb
\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx8304\pard\plain \s21\qc \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 \cell \cell \cell 
\cell \cell \cell }\pard\plain \ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 \trowd \trftsWidth1 \clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb
\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx1384\clvertalt\clbrdrt\brdrs\brdrw5\brdrcf1 \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx2768\clvertalt\clbrdrt
\brdrs\brdrw5\brdrcf1 \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx4152\clvertalt\clbrdrt\brdrs\brdrw5\brdrcf1 \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 
\cellx5536\clvertalt\clbrdrt\brdrs\brdrw5\brdrcf1 \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth1384 \cellx6920\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth1384 \cellx8304\row }\trowd \trftsWidth1 \clvertalt\clbrdrt\brdrs\brdrw5\brdrcf1 \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth2768 \cellx2768
\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx4152\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx5536
\clvertalt\clbrdrt\brdrs\brdrw5\brdrcf1 \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth2768 \cellx8304\pard\plain 
\s21\qc \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 Nu regleaza incidentul\cell \cell \cell Regleaza incidentul\cell }\pard\plain 
\ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 \trowd \trftsWidth1 \clvertalt\clbrdrt\brdrs\brdrw5\brdrcf1 \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb
\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth2768 \cellx2768\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx4152\clvertalt\clbrdrt\brdrnone 
\clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx5536\clvertalt\clbrdrt\brdrs\brdrw5\brdrcf1 \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrs\brdrw5\brdrcf1 
\cltxlrtb\clftsWidth3\clwWidth2768 \cellx8304\row }\trowd \trftsWidth1 \clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth1384 \cellx1384\clvertalt\clbrdrt\brdrnone \clbrdrl
\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx2768\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx4152\clvertalt\clbrdrt\brdrnone \clbrdrl
\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx5536\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth1384 \cellx6920\clvertalt\clbrdrt
\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx8304\pard\plain \s21\qc \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 
\fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 \cell \cell \cell \cell \cell \cell }\pard\plain \ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {
\fs22 \trowd \trftsWidth1 \clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth1384 \cellx1384\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth1384 \cellx2768\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx4152\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth1384 \cellx5536\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth1384 \cellx6920\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone 
\clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx8304\row }\trowd \trftsWidth1 \clvertalt\clbrdrt\brdrs\brdrw5\brdrcf1 \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth2768 
\cellx2768\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx4152\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 
\cellx5536\clvertalt\clbrdrt\brdrs\brdrw5\brdrcf1 \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth2768 \cellx8304\pard\plain 
\s21\qc \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 Devine client dubios\cell \cell \cell Ramane client normal\cell }\pard\plain 
\ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 \trowd \trftsWidth1 \clvertalt\clbrdrt\brdrs\brdrw5\brdrcf1 \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb
\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth2768 \cellx2768\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx4152\clvertalt\clbrdrt\brdrnone 
\clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx5536\clvertalt\clbrdrt\brdrs\brdrw5\brdrcf1 \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrs\brdrw5\brdrcf1 
\cltxlrtb\clftsWidth3\clwWidth2768 \cellx8304\row }\trowd \trftsWidth1 \clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth1384 \cellx1384\clvertalt\clbrdrt\brdrnone \clbrdrl
\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx2768\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx4152\clvertalt\clbrdrt\brdrnone \clbrdrl
\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx5536\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx6920\clvertalt\clbrdrt\brdrnone \clbrdrl
\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx8304\pard\plain \s21\qc \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 
\cell \cell \cell \cell \cell \cell }\pard\plain \ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 \trowd \trftsWidth1 \clvertalt\clbrdrt\brdrnone \clbrdrl
\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth1384 \cellx1384\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx2768\clvertalt\clbrdrt
\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx4152\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx5536\clvertalt\clbrdrt
\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx6920\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx8304\row }\trowd 
\trftsWidth1 \clvertalt\clbrdrt\brdrs\brdrw5\brdrcf1 \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth2768 \cellx2768\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone 
\clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx4152\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx5536\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone 
\clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx6920\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx8304\pard\plain 
\s21\qc \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 Contencios\cell \cell \cell \cell \cell }\pard\plain 
\ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 \trowd \trftsWidth1 \clvertalt\clbrdrt\brdrs\brdrw5\brdrcf1 \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb
\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth2768 \cellx2768\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx4152\clvertalt\clbrdrt\brdrnone 
\clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx5536\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx6920\clvertalt\clbrdrt\brdrnone 
\clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1384 \cellx8304\row }\pard \qj \fi727\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\fs22 
\par }\pard \qc \fi727\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\i\fs22 Gestiunea traditionala a riscului client
\par }\pard \qj \fi727\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\fs22 
\par Aceasta modalitate de gestiune isi gaseste justificarea in costurile relativ scazute ale implementarii sale in perioade normale si in specializarea personalului. 
\par }{\b\fs22 Abordarea}{\fs22  }{\b\fs22 moderna}{\fs22  (modul activ) se bazeaza pe necesitatea interventiei inainte ca incidentul sa se produca, anticipand riscurile si deci reactualizand in permanenta situatia clientilor in functie de informatiile la zi. 
\par }{\i\fs22 Fundamentele }{\fs22 acestui mod de tratare a dosarelor clientilor sunt urmatoarele:
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}}\pard \qj \fi-283\li566\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\ls26\ilvl1\adjustright\rin0\lin566\itap0 {\fs22\lang1036\langfe1033\langnp1036 
riscul trebuie controlat actionand la nivelul clientului inainte ca incidentul sa  aiba loc;
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}actiunea anticipativa a bancii trebuie sa intareasca imaginea de consilier si sustinator al clientului;
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'96\tab}}{\fs22 actualizarea permanenta a dosarelor confera bancii un avantaj competitiv care rezulta din cunoasterea exacta a situatiei clientului.
\par }\pard \qj \fi727\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\fs22\lang1036\langfe1033\langnp1036 
De fapt, banca extinde la tratamentul dosarelor particularilor modul de abordare folosit in relatia cu partenerii mari, intreprinderile. Acest fapt nu este insa posibil decat in conditiile unei informatizari integrale a procedur
ilor de tratament al dosarului.
\par }{\i\fs22\lang1036\langfe1033\langnp1036 Principiile }{\fs22\lang1036\langfe1033\langnp1036  pe care se bazeaza gestiunea preventiva a riscului client sunt:
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}}\pard \qj \fi-283\li566\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\ls27\ilvl1\adjustright\rin0\lin566\itap0 {\fs22\lang1036\langfe1033\langnp1036 
existenta unui singur criteriu pentru aprecierea unei situatii riscante: riscul client (preponderent asupra riscului de nerambursare la scadenta);
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}folosirea unui sistem de indicatori sintetici pentru semnalarea abaterilor semnificative de la calitatea initiala a clientului debitor;
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}urmarirea imbogatirii activitatii  nu sufocarea ei; sistemul de control trebuie sa fie simplu, elastic si sa permita tratamentul prin exceptie.
\par }\pard \qj \fi727\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\i\fs22\lang1036\langfe1033\langnp1036 Implementarea}{\fs22\lang1036\langfe1033\langnp1036 
 unui sistem de gestiune preventiva a riscului client presupune derularea unei intregi game de operatiuni.
\par Esentiala este definirea cu prioritate a informatiilor necesare pentru un dosar client t
ip si a bazei de date din care se poate obtine fiecare informatie necesara. Trebuie ca lista acestor informatii sa fie corelata cu posibilitatile de informare a personalului si trebuie indicate precis documentele primare din care se preiau aceste informat
ii, documente care trebuie sa fie accesibile bancii si pe care clientul trebuie sa le actualizeze ori de cate ori apar modificari.
\par Urmeaza apoi stabilirea indicatorilor sintetici in baza carora se iau decizia de creditare si decizia de interventie in derula
rea procesului de creditare. Pentru fiecare dintre acestia se stabileste algoritmul de calcul, se fixeaza continutul bazei de date de prelucrat si se stabilesc marjele de toleranta sau filtrele; acestea din urma trebuie revizuite periodic si actualizate i
n functie de evolutia pietelor si de politica de credit a bancii.
\par Cea de-a treia etapa consta in stabilirea modului de prezentare a rezultatelor. Aceasta prezentare trebuie sa se caracterizeze prin accesibilitate, rapiditate si simplicitate. Daca aceste con
ditii sunt intrunite, atunci produsul finit este util si contribuie la simplificarea activitatilor curente.
\par Etapa finala consta in reactualizarea informatiilor din bazele de date folosite de back-office. 
\par Reactualizarea poate fi periodica sau prin exceptie
, dupa cum se convine prin politica de credite. Reactualizarea trebuie sa fie coerenta si fiabila pentru ca presupune inlocuirea unor date care stau la baza unor algoritmi de calcul care fundamenteaza decizii.
\par 
\par }\trowd \trhdr\trftsWidth1 \clvertalt\clbrdrt\brdrs\brdrw5\brdrcf1 \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth3875 \cellx3875\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone 
\clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1108 \cellx4983\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1661 \cellx6644\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone 
\clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1654 \cellx8298\pard\plain \s22\qc \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \b\i\fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\b0\i0\fs22 
Client\cell }{\fs22 \cell \cell \cell }\pard\plain \ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 \trowd \trhdr\trftsWidth1 \clvertalt\clbrdrt
\brdrs\brdrw5\brdrcf1 \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth3875 \cellx3875\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth1108 \cellx4983\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1661 \cellx6644\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth1654 \cellx8298\row }\trowd \trftsWidth1 \clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1859 \cellx1859\clvertalt\clbrdrt\brdrnone \clbrdrl
\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2016 \cellx3875\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1108 \cellx4983\clvertalt\clbrdrt
\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1661 \cellx6644\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1654 \cellx8298\pard\plain 
\s21\qc \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 \cell \cell \cell \cell \cell }\pard\plain 
\ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 \trowd \trftsWidth1 \clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth1859 \cellx1859\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2016 \cellx3875\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone 
\clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1108 \cellx4983\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1661 \cellx6644\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone 
\clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1654 \cellx8298\row }\trowd \trftsWidth1 \clvertalt\clbrdrt\brdrs\brdrw5\brdrcf1 \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth3875 
\cellx3875\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1108 \cellx4983\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1661 
\cellx6644\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1654 \cellx8298\pard\plain \s21\qc \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 
\fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 FO: dosar client\cell \cell \cell \cell }\pard\plain \ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 
\fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 \trowd \trftsWidth1 \clvertalt\clbrdrt\brdrs\brdrw5\brdrcf1 \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth3875 
\cellx3875\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1108 \cellx4983\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1661 
\cellx6644\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1654 \cellx8298\row }\trowd \trftsWidth1 \clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth1859 \cellx1859\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2016 \cellx3875\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone 
\clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1108 \cellx4983\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1661 \cellx6644\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone 
\clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1654 \cellx8298\pard\plain \s21\qc \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 \cell \cell \cell \cell 
\cell }\pard\plain \ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 \trowd \trftsWidth1 \clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone 
\clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1859 \cellx1859\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2016 \cellx3875\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone 
\clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1108 \cellx4983\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1661 \cellx6644\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone 
\clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1654 \cellx8298\row }\trowd \trftsWidth1 \clvertalt\clbrdrt\brdrs\brdrw5\brdrcf1 \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrs\brdrw5\brdrcf1 
\cltxlrtb\clftsWidth3\clwWidth3875 \cellx3875\clvertalt\clbrdrt\brdrs\brdrw5\brdrcf1 \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1108 \cellx4983\clvertalt\clbrdrt\brdrs\brdrw5\brdrcf1 \clbrdrl\brdrnone \clbrdrb
\brdrnone \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth1661 \cellx6644\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1654 \cellx8298\pard\plain 
\s21\qc \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 BO: inregistrarea evenimentelor\cell \cell \cell \cell }\pard\plain 
\ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 \trowd \trftsWidth1 \clvertalt\clbrdrt\brdrs\brdrw5\brdrcf1 \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb
\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth3875 \cellx3875\clvertalt\clbrdrt\brdrs\brdrw5\brdrcf1 \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1108 \cellx4983\clvertalt\clbrdrt
\brdrs\brdrw5\brdrcf1 \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth1661 \cellx6644\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1654 
\cellx8298\row }\trowd \trftsWidth1 \clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1859 \cellx1859\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrnone \clbrdrr
\brdrnone \cltxlrtb\clftsWidth3\clwWidth2016 \cellx3875\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1108 \cellx4983\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr
\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth1661 \cellx6644\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1654 \cellx8298\pard\plain 
\s21\qc \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 \cell \cell \cell \cell \cell }\pard\plain 
\ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 \trowd \trftsWidth1 \clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth1859 \cellx1859\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2016 \cellx3875\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone 
\clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1108 \cellx4983\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth1661 \cellx6644\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone 
\clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1654 \cellx8298\row }\trowd \trftsWidth1 \clvertalt\clbrdrt\brdrs\brdrw5\brdrcf1 \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrs\brdrw5\brdrcf1 
\cltxlrtb\clftsWidth3\clwWidth3875 \cellx3875\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1108 \cellx4983\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr
\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth1661 \cellx6644\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1654 \cellx8298\pard\plain 
\s21\qc \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 Extragerea si reconstituirea dosarelor\cell \cell \cell \cell }\pard\plain 
\ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 \trowd \trftsWidth1 \clvertalt\clbrdrt\brdrs\brdrw5\brdrcf1 \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb
\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth3875 \cellx3875\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1108 \cellx4983\clvertalt\clbrdrt\brdrnone 
\clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth1661 \cellx6644\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1654 \cellx8298\row }\trowd 
\trftsWidth1 \clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1859 \cellx1859\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrnone \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth2016 \cellx3875\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1108 \cellx4983\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr
\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth1661 \cellx6644\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1654 \cellx8298\pard\plain 
\s21\qc \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 \cell \cell \cell \cell \cell }\pard\plain 
\ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 \trowd \trftsWidth1 \clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth1859 \cellx1859\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2016 \cellx3875\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone 
\clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1108 \cellx4983\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth1661 \cellx6644\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone 
\clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1654 \cellx8298\row }\trowd \trftsWidth1 \clvertalt\clbrdrt\brdrs\brdrw5\brdrcf1 \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrs\brdrw5\brdrcf1 
\cltxlrtb\clftsWidth3\clwWidth3875 \cellx3875\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1108 \cellx4983\clvertalt\clbrdrt\brdrs\brdrw5\brdrcf1 \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb
\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth3315 \cellx8298\pard\plain \s21\qc \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {
\fs22\lang1036\langfe1033\langnp1036 Filtrul de alerta cu parametri\cell \cell }{\fs22 Reactualizare \cell }\pard\plain \ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 
\fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 \trowd \trftsWidth1 \clvertalt\clbrdrt\brdrs\brdrw5\brdrcf1 \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth3875 
\cellx3875\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1108 \cellx4983\clvertalt\clbrdrt\brdrs\brdrw5\brdrcf1 \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr
\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth3315 \cellx8298\row }\trowd \trftsWidth1 \clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1859 \cellx1859\clvertalt\clbrdrt\brdrnone 
\clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2016 \cellx3875\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1108 \cellx4983\clvertalt
\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth1661 \cellx6644\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1654 
\cellx8298\pard\plain \s21\qc \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 \cell \cell \cell \cell \cell }\pard\plain 
\ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 \trowd \trftsWidth1 \clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth1859 \cellx1859\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2016 \cellx3875\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone 
\clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1108 \cellx4983\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth1661 \cellx6644\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone 
\clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1654 \cellx8298\row }\trowd \trftsWidth1 \clvertalt\clbrdrt\brdrs\brdrw5\brdrcf1 \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrs\brdrw5\brdrcf1 
\cltxlrtb\clftsWidth3\clwWidth3875 \cellx3875\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1108 \cellx4983\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr
\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth1661 \cellx6644\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1654 \cellx8298\pard\plain 
\s21\qc \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 Afisarea dosarelor in alerta la FO\cell \cell \cell \cell }\pard\plain 
\ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 \trowd \trftsWidth1 \clvertalt\clbrdrt\brdrs\brdrw5\brdrcf1 \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb
\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth3875 \cellx3875\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1108 \cellx4983\clvertalt\clbrdrt\brdrnone 
\clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth1661 \cellx6644\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1654 \cellx8298\row }\trowd 
\trftsWidth1 \clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1859 \cellx1859\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrnone \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth2016 \cellx3875\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1108 \cellx4983\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr
\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth1661 \cellx6644\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1654 \cellx8298\pard\plain 
\s21\qc \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 \cell \cell \cell \cell \cell }\pard\plain 
\ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 \trowd \trftsWidth1 \clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth1859 \cellx1859\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2016 \cellx3875\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone 
\clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1108 \cellx4983\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth1661 \cellx6644\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone 
\clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1654 \cellx8298\row }\trowd \trftsWidth1 \clvertalt\clbrdrt\brdrs\brdrw5\brdrcf1 \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrs\brdrw5\brdrcf1 
\cltxlrtb\clftsWidth3\clwWidth3875 \cellx3875\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1108 \cellx4983\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb
\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth1661 \cellx6644\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1654 \cellx8298\pard\plain 
\s21\qc \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 Masuri asupra clientilor\cell \cell \cell \cell }\pard\plain 
\ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 \trowd \trftsWidth1 \clvertalt\clbrdrt\brdrs\brdrw5\brdrcf1 \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb
\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth3875 \cellx3875\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1108 \cellx4983\clvertalt\clbrdrt
\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth1661 \cellx6644\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1654 
\cellx8298\row }\pard \qj \fi727\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\fs22 
\par }\pard \qc \fi727\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\i\fs22 Gestiunea moderna a riscului client
\par }\pard \qj \fi727\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\fs22 
\par Din practica s-a observat ca implementarea cu succes a gestiunii preventive a riscului client depinde in mod esential de conducerea proiectului. }{\fs22\lang1036\langfe1033\langnp1036 
Este foarte important ca echipa de conducere sa se implice efectiv in implementarea programului si sa adere la
 principiile acestuia. In baza politicii de creditare este esentiala identificarea obiectivelor strategice clare care sa asigure programului coerenta si eficienta. Echipa de conducere a proiectului nu poate fi formata din cadre de conducere de nivel super
i
or dar este bine ca ea sa implice si directia generala in activitatile de implementare pentru a arata care este importanta programului pentru conducere; acest element de ordin subiectiv poate duce la modificarea substantiala si rapida, in sens pozitiv a a
t
itudinii personalului care trebuie sa se adapteze la folosirea noului mod de gestiune. Si la fel de importanta este si accentuarea laturii consultanta in relatiile cu clientii; aceasta deoarece li se cer in mod sistematic informatii si actualizarea pe pro
pria raspundere a celor furnizate deja.
\par }{\b\fs22\lang1036\langfe1033\langnp1036 Riscul de tara}{\fs22\lang1036\langfe1033\langnp1036 
 se defineste ca fiind riscul de nerambursare generat de o insolvabilitate determinata de localizarea geografica a debitorului si nu de deteriorarea situatiei sale financiare. Nu este un risc de credit p
ropriu-zis caci insolvabilitatea debitorului nu-i este proprie. }{\fs22 El apare ca risc:
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'96\tab}}\pard \qj \fi-283\li566\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\ls28\ilvl1\adjustright\rin0\lin566\itap0 {\fs22 
specific organismelor guvernamentale, institutiilor/intreprinderilor publice, statelor debitoare sau
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'96\tab}suplimentar pentru persoane sau agenti a caror insolvabilitate este determinata de localizarea geografica fara o deteriorare a situatiei financiare.
\par }\pard \qj \fi727\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\fs22\lang1036\langfe1033\langnp1036 Riscul de tara are doua dimensiuni: politica si economica. 
\par }{\b\fs22\lang1036\langfe1033\langnp1036 Riscul politic}{\fs22\lang1036\langfe1033\langnp1036  sau riscul suveran este primul element al riscului de tara si exprima gradul de instabilitate politic
a. Aceasta poate provoca situatii de o gravitate deosebita pentru creditori, intre care: 
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'96\tab}}\pard \qj \fi-283\li566\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\ls29\ilvl1\adjustright\rin0\lin566\itap0 {\fs22 repunerea in discutie sau renegocierea unor contracte;
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'96\tab}limitarea sau interzicerea investitiilor straine;
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'96\tab}limitarea sau interzicerea iesirilor de capital;
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}}{\fs22\lang1036\langfe1033\langnp1036 nationalizarea, cu sau fara despagubire;
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}refuzul de a recunoaste angajamentele guvernelor anterioare;
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}anularea datoriei externe sau suspendarea platilor etc.
\par }\pard \qj \fi727\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\fs22\lang1036\langfe1033\langnp1036 Toti acesti factori pot afecta negativ rambursarea creditelor contractate si a dobanzilor aferente.
\par }{\b\fs22\lang1036\langfe1033\langnp1036 Riscul economic}{\fs22\lang1036\langfe1033\langnp1036 , a doua dimensiune a riscului de tara, este generat de incapacitatea autoritatilor monetare ale tarii respective de a asigura transferul dre
pturilor creditorilor. Debitorul poate fi solvabil si capabil sa degaje o capacitate de rambursare suficienta dar lipsa de rezerve in devize nu permite realizarea transferului spre exterior. Cel mai adesea, insa, riscul politic, economic si de creditare p
ropriu-zis sunt impletite, situatia economica, politica si financiara a tarii putand fi deteriorata. In acest context se impune o abordare globala a riscului de tara.
\par }{\b\fs22\lang1036\langfe1033\langnp1036 Metodele de analiza}{\fs22\lang1036\langfe1033\langnp1036  a riscului de tara sunt numeroase. Mai dezvoltate sunt doua directii de studiu: metoda indicatorilor de risc si teoria valorii firmei.
\par }{\i\fs22\lang1036\langfe1033\langnp1036 Metoda indicatorilor de risc}{\fs22\lang1036\langfe1033\langnp1036  este cea mai utilizata si se bazeaza pe metoda Delphi. }{\fs22 Riscul de tara se determina prin parcurgerea unor etape: 
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}}\pard \qj \fi-283\li283\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\ls30\adjustright\rin0\lin283\itap0 {\fs22\lang1036\langfe1033\langnp1036 
stabilirea unei liste de criterii reprezentativ
e pentru a caracteriza situatia politica, economica si financiara a tarii. Drept criterii politice se folosesc stabilitatea regimului, apartenenta la o zona de conflict, rolul jucat de militari, puterea militara etc. Criteriile economice sunt structura im
porturilor si a exporturilor, rata economisirii, starea sectorului bancar etc. Drept criterii financiare se pot folosi: regimul valutar, serviciul datoriei externe, raportul dintre serviciul datoriei si exporturi;
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}interogarea expertilor asupra pertinentei acestor criterii, cerandu-le sa le ierarhizeze si noteze totodata;
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'96\tab}}{\fs22 ponderea criteriilor in functie de importanta lor si apoi calcularea unei note care sa indice riscul total.
\par }\pard \qj \fi727\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\fs22 In esenta, metoda este foarte asemanatoare cu credit scoring, doar ca in loc de analiza discriminatorie se foloseste interogarea expertilor. 
\par }{\i\fs22\lang1036\langfe1033\langnp1036 Teoria valorii firmei}{\fs22\lang1036\langfe1033\langnp1036 
 are la baza evaluarea valorii economiei tarii respective prin capitalizarea unui flux de venituri resprezentat de excedentul balantei comerciale. Apoi aceasta valoare a economiei se compara cu datoria interna. 
\par Exemplu de indicator de risc de tara pe baza metodei indicatorilor de risc (dupa Coussergues, 1992) Business Environment Risk Index \endash  BERI.
\par A fost pus la punct in SUA unde este si publicat periodic. Punctajul se stabileste pe baza a 15 criterii, ponderate diferit, fiecare putand fi notat de la 0 la 4 puncte, in functie de risc (0 pentru risc maxim).
\par 
\par }\trowd \trhdr\trftsWidth1 \clvertalt\clbrdrt\brdrs\brdrw5\brdrcf1 \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth578 \cellx578\clvertalt\clbrdrt\brdrs\brdrw5\brdrcf1 \clbrdrl
\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth4516 \cellx5094\clvertalt\clbrdrt\brdrs\brdrw5\brdrcf1 \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth1281 \cellx6375\clvertalt\clbrdrt\brdrs\brdrw5\brdrcf1 \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1063 \cellx7438\clvertalt\clbrdrt\brdrs\brdrw5\brdrcf1 
\clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth860 \cellx8298\pard\plain \s22\qc \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 
\b\i\fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 Nr crt\cell Criteriu\cell Coeficient ponderare\cell Puncte (0 la 4)\cell Total\cell }\pard\plain \ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 
\fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 \trowd \trhdr\trftsWidth1 \clvertalt\clbrdrt\brdrs\brdrw5\brdrcf1 \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth578 \cellx578
\clvertalt\clbrdrt\brdrs\brdrw5\brdrcf1 \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth4516 \cellx5094\clvertalt\clbrdrt\brdrs\brdrw5\brdrcf1 \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb
\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1281 \cellx6375\clvertalt\clbrdrt\brdrs\brdrw5\brdrcf1 \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1063 \cellx7438
\clvertalt\clbrdrt\brdrs\brdrw5\brdrcf1 \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth860 \cellx8298\row }\trowd \trftsWidth1 \clvertalt\clbrdrt\brdrnone \clbrdrl
\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth578 \cellx578\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth4516 
\cellx5094\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1281 \cellx6375\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 
\clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1063 \cellx7438\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth860 \cellx8298\pard\plain 
\s21\qr \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 1\cell }\pard \s21\ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 
{\fs22 Stabilitatea politica a tarii debitorului (evaluarea probabilitatii schimbarii si impactul acestei schimbari asupra afacerilor)\cell }\pard \s21\qc \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22 3\cell 
}\pard \s21\ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22 \cell \cell }\pard\plain \ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 
\fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 \trowd \trftsWidth1 \clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth578 \cellx578\clvertalt\clbrdrt
\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth4516 \cellx5094\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth1281 \cellx6375\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1063 \cellx7438\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 
\clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth860 \cellx8298\row }\pard\plain \s21\qr \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 
\fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 2\cell }\pard \s21\ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22 
Atitudinea autoritatilor fata de investitiile straine si fata de repatrierea beneficilor\cell }\pard \s21\qc \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22 1.5\cell }\pard 
\s21\ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22 \cell \cell }\pard\plain \ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 
\fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 \trowd \trftsWidth1 \clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth578 \cellx578\clvertalt\clbrdrt
\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth4516 \cellx5094\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth1281 \cellx6375\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1063 \cellx7438\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 
\clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth860 \cellx8298\row }\pard\plain \s21\qr \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 
\fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 3\cell }\pard \s21\ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22 Tendinta catre nationalizari\cell }\pard 
\s21\qc \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22 1.5\cell }\pard \s21\ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22 \cell \cell }\pard\plain 
\ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 \trowd \trftsWidth1 \clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb
\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth578 \cellx578\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth4516 \cellx5094\clvertalt\clbrdrt
\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1281 \cellx6375\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth1063 \cellx7438\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth860 \cellx8298\row }\pard\plain 
\s21\qr \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 4\cell }\pard \s21\ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 
{\fs22 Restrictii birocratice (eficienta administratiei)\cell }\pard \s21\qc \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22 1\cell }\pard 
\s21\ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22 \cell \cell }\pard\plain \ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 
\fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 \trowd \trftsWidth1 \clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth578 \cellx578\clvertalt\clbrdrt
\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth4516 \cellx5094\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth1281 \cellx6375\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1063 \cellx7438\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 
\clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth860 \cellx8298\row }\pard\plain \s21\qr \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 
\fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 5\cell }\pard \s21\ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22 Respectarea acordurilor contractuale\cell }\pard 
\s21\qc \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22 1.5\cell }\pard \s21\ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22 \cell \cell }\pard\plain 
\ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 \trowd \trftsWidth1 \clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb
\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth578 \cellx578\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth4516 \cellx5094\clvertalt\clbrdrt
\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1281 \cellx6375\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth1063 \cellx7438\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth860 \cellx8298\row }\pard\plain 
\s21\qr \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 6\cell }\pard \s21\ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 
{\fs22 Calitatea serviciilor de suprastructura\cell }\pard \s21\qc \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22 0.5\cell }\pard 
\s21\ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22 \cell \cell }\pard\plain \ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 
\fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 \trowd \trftsWidth1 \clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth578 \cellx578\clvertalt\clbrdrt
\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth4516 \cellx5094\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth1281 \cellx6375\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1063 \cellx7438\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 
\clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth860 \cellx8298\row }\pard\plain \s21\qr \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 
\fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 7\cell }\pard \s21\ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1036\langfe1033\langnp1036 
Calitatea infrastructurii (comunicatii si transporturi)\cell }\pard \s21\qc \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22 1\cell }\pard 
\s21\ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22 \cell \cell }\pard\plain \ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 
\fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 \trowd \trftsWidth1 \clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth578 \cellx578\clvertalt\clbrdrt
\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth4516 \cellx5094\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth1281 \cellx6375\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1063 \cellx7438\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 
\clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth860 \cellx8298\row }\pard\plain \s21\qr \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 
\fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 8\cell }\pard \s21\ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1036\langfe1033\langnp1036 
Calitatea responsabilitatilor intreprinderii sau entitatii debitoare\cell }\pard \s21\qc \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22 1\cell }\pard 
\s21\ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22 \cell \cell }\pard\plain \ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 
\fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 \trowd \trftsWidth1 \clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth578 \cellx578\clvertalt\clbrdrt
\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth4516 \cellx5094\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth1281 \cellx6375\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1063 \cellx7438\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 
\clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth860 \cellx8298\row }\pard\plain \s21\qr \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 
\fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 9\cell }\pard \s21\ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22 Cresterea economica in tara\cell }\pard 
\s21\qc \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22 2.5\cell }\pard \s21\ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22 \cell \cell }\pard\plain 
\ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 \trowd \trftsWidth1 \clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb
\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth578 \cellx578\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth4516 \cellx5094\clvertalt\clbrdrt
\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1281 \cellx6375\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth1063 \cellx7438\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth860 \cellx8298\row }\pard\plain 
\s21\qr \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 10\cell }\pard 
\s21\ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22 Inflatia \cell }\pard \s21\qc \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22 1.5\cell }\pard 
\s21\ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22 \cell \cell }\pard\plain \ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 
\fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 \trowd \trftsWidth1 \clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth578 \cellx578\clvertalt\clbrdrt
\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth4516 \cellx5094\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth1281 \cellx6375\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1063 \cellx7438\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 
\clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth860 \cellx8298\row }\pard\plain \s21\qr \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 
\fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 11\cell }\pard \s21\ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22 Balanta de plati\cell }\pard 
\s21\qc \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22 1.5\cell }\pard \s21\ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22 \cell \cell }\pard\plain 
\ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 \trowd \trftsWidth1 \clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb
\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth578 \cellx578\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth4516 \cellx5094\clvertalt\clbrdrt
\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1281 \cellx6375\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth1063 \cellx7438\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth860 \cellx8298\row }\pard\plain 
\s21\qr \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 12\cell }\pard 
\s21\ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1036\langfe1033\langnp1036 Facilitati de conversie a monedei locale in valuta\cell }\pard 
\s21\qc \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22 2.5\cell }\pard \s21\ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22 \cell \cell }\pard\plain 
\ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 \trowd \trftsWidth1 \clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb
\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth578 \cellx578\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth4516 \cellx5094\clvertalt\clbrdrt
\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1281 \cellx6375\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth1063 \cellx7438\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth860 \cellx8298\row }\pard\plain 
\s21\qr \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 13\cell }\pard 
\s21\ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22\lang1036\langfe1033\langnp1036 Costul fortei de munca/productivitatea\cell }\pard 
\s21\qc \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22 2\cell }\pard \s21\ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22 \cell \cell }\pard\plain 
\ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 \trowd \trftsWidth1 \clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb
\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth578 \cellx578\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth4516 \cellx5094\clvertalt\clbrdrt
\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1281 \cellx6375\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth1063 \cellx7438\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth860 \cellx8298\row }\pard\plain 
\s21\qr \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 14\cell }\pard 
\s21\ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22 Disponibilitatea pe piata locala a creditelor pe termen scurt\cell }\pard 
\s21\qc \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22 2\cell }\pard \s21\ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22 \cell \cell }\pard\plain 
\ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 \trowd \trftsWidth1 \clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb
\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth578 \cellx578\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth4516 \cellx5094\clvertalt\clbrdrt
\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1281 \cellx6375\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth1063 \cellx7438\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth860 \cellx8298\row }\trowd \trftsWidth1 \clvertalt\clbrdrt
\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth578 \cellx578\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth4516 \cellx5094\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1281 \cellx6375\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 
\clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1063 \cellx7438\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth860 \cellx8298
\pard\plain \s21\qr \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 15\cell }\pard 
\s21\ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22 Posibilitatea finantarii pe termen lung in moneda locala, mai ales sub forma cresterii de capital \cell }\pard 
\s21\qc \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22 2\cell }\pard \s21\ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22 \cell \cell }\pard\plain 
\ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 \trowd \trftsWidth1 \clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb
\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth578 \cellx578\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth4516 \cellx5094\clvertalt\clbrdrt
\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1281 \cellx6375\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth1063 \cellx7438\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth860 \cellx8298\row }\pard 
\qj \fi727\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\fs22 
\par Tarile sunt clasificate in functie de punctajul obtinut, astfel:
\par }{\fs22\lang1036\langfe1033\langnp1036 40 si mai putin: riscuri inacceptabile;
\par 41 \endash  55: riscuri ridicate;
\par 56 \endash  69: riscuri moderate;
\par 70 si peste: riscuri reduse.
\par In functie de aceasta apreciere creditorii stabilesc daca acorda sau nu creditul, precum si conditiile de creditare (garantii, termen de rambursare, rata a dobanzii).
\par Pe piata internationala de capital adevarata valoare si cota unei tari sunt evidentiate pe pietele de euroobligatiuni, unde exista o piata secundara, cotatie
 la bursa. Diferentele dintre pretul oferit si pretul cerut pe aceasta piata sunt o foarte buna aproximare a riscului de tara, asa cum este el perceput de investitori. }{\fs22 
Pentru Romania, pe parcursul anului 1996, evolutia acestei diferente (spread) a fost urmatoarea:
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}}\pard \qj \fi-283\li566\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\ls31\ilvl1\adjustright\rin0\lin566\itap0 {\fs22\lang1036\langfe1033\langnp1036 
emisiunea romaneasca de euroobligatiuni a demarat cu o marja de 3.05%
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'96\tab}}{\fs22 cererea fiind foarte mare pe piata secundara, diferenta a scazut la 2.7 \endash  2.8%;
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}}{\fs22\lang1036\langfe1033\langnp1036 inflatia din vara si presiunile asupra cursului au dus la cresterea marjei la 3.08%
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}dupa alegerile din noiembrie marja a scazut la 3,05 - 3,1%
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}in asteptarea programului guvernamental, la inceputul lui 1997 marja a scazut din nou la 2,7% 
\par }\pard \qj \fi727\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\fs22\lang1036\langfe1033\langnp1036 
\par }\pard \ql \li2902\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin2902\itap0 {\b\fs22\lang1036\langfe1033\langnp1036 3.4 Gestiunea riscului de credit global
\par }\pard \qj \fi727\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\b\fs22\lang1036\langfe1033\langnp1036 
\par }{\fs22\lang1036\langfe1033\langnp1036 Gestiunea riscului de credit global are la baza doua principii: diviziunea si limitarea riscurilor.
\par }{\b\fs22\lang1036\langfe1033\langnp1036 Diviziunea riscului de creditare}{\fs22\lang1036\langfe1033\langnp1036  urmareste evitarea concentrarii riscurilor prin diversificarea plasamentelor si a creditelor in special. Concentrarea clien
tilor intr-un singur domeniu de activitate este relativ periculoasa pentru o banca universala: in perioda de recesiune pot interveni greutati de exploatare. In sfera creditarii particularilor, diversificarea portofoliului este in primul rand o diversifica
re teritoriala. La creditarea agentilor economici importanta este diversificarea sectoriala sau economica, iar in ceea ce priveste clientii suverani \endash 
 diversificarea geografica. In cazul Romaniei bancile isi propun o diversificare a portofoliilor institutio
nale prin dezvoltarea activitatilor de creditare a sectorului privat. In tabelul urmator se prezinta strategia in acest domeniu a principalelor banci pentru anul 1997:
\par 
\par }\pard \qc \fi727\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\b\fs22\lang1036\langfe1033\langnp1036 Finantarea sectorului privat de catre bancile romanesti
\par }{\fs22\lang1036\langfe1033\langnp1036 
\par }\trowd \trhdr\trftsWidth1 \clvertalt\clbrdrt\brdrs\brdrw5\brdrcf1 \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth3766 \cellx3766\clvertalt\clbrdrt\brdrs\brdrw5\brdrcf1 \clbrdrl
\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2406 \cellx6172\clvertalt\clbrdrt\brdrs\brdrw5\brdrcf1 \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrs\brdrw5\brdrcf1 
\cltxlrtb\clftsWidth3\clwWidth2125 \cellx8297\pard\plain \s22\qc \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \b\i\fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 Banca\cell Pondere total credite\cell Po
ndere bilant\cell }\pard\plain \ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 \trowd \trhdr\trftsWidth1 \clvertalt\clbrdrt\brdrs\brdrw5\brdrcf1 \clbrdrl
\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth3766 \cellx3766\clvertalt\clbrdrt\brdrs\brdrw5\brdrcf1 \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth2406 \cellx6172\clvertalt\clbrdrt\brdrs\brdrw5\brdrcf1 \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth2125 \cellx8297\row }\trowd \trftsWidth1 
\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth3766 \cellx3766\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr
\brdrnone \cltxlrtb\clftsWidth3\clwWidth2406 \cellx6172\clvertalb\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrs\brdrw5\brdrcf1 \cltxlrtb\clftsWidth3\clwWidth2125 \cellx8297\pard\plain 
\s21\ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 Banca Ion Tiriac\cell }\pard 
\s21\qc \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22 -\cell 90.00%\cell }\pard\plain \ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 
\fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 \trowd \trftsWidth1 \clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth3766 \cellx3766\clvertalt\clbrdrt
\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2406 \cellx6172\clvertalb\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrs\brdrw5\brdrcf1 
\cltxlrtb\clftsWidth3\clwWidth2125 \cellx8297\row }\trowd \trftsWidth1 \clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth3766 \cellx3766\clvertalb\clbrdrt\brdrnone 
\clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2406 \cellx6172\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrs\brdrw5\brdrcf1 
\cltxlrtb\clftsWidth3\clwWidth2125 \cellx8297\pard\plain \s21\ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 Banca Internationala a Religiilor\cell }\pard 
\s21\qc \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22 70.00%\cell -\cell }\pard\plain \ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 
\fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 \trowd \trftsWidth1 \clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth3766 \cellx3766\clvertalb\clbrdrt
\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2406 \cellx6172\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrs\brdrw5\brdrcf1 
\cltxlrtb\clftsWidth3\clwWidth2125 \cellx8297\row }\pard\plain \s21\ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 Banca Transilvania\cell }\pard 
\s21\qc \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22 99.40%\cell -\cell }\pard\plain \ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 
\fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 \trowd \trftsWidth1 \clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth3766 \cellx3766\clvertalb\clbrdrt
\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2406 \cellx6172\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrs\brdrw5\brdrcf1 
\cltxlrtb\clftsWidth3\clwWidth2125 \cellx8297\row }\trowd \trftsWidth1 \clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth3766 \cellx3766\clvertalb\clbrdrt\brdrnone 
\clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2406 \cellx6172\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrs\brdrw5\brdrcf1 
\cltxlrtb\clftsWidth3\clwWidth2125 \cellx8297\pard\plain \s21\ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 Banca Romana de Dezvoltare \cell }\pard 
\s21\qc \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\fs22 60.00%\cell -\cell }\pard\plain \ql \li0\ri0\nowidctlpar\intbl\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0 
\fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\fs22 \trowd \trftsWidth1 \clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth3766 \cellx3766\clvertalb\clbrdrt
\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth2406 \cellx6172\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrs\brdrw5\brdrcf1 \clbrdrb\brdrs\brdrw5\brdrcf1 \clbrdrr\brdrs\brdrw5\brdrcf1 
\cltxlrtb\clftsWidth3\clwWidth2125 \cellx8297\row }\pard \qc \fi727\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\fs22 
\par }\pard \qj \fi727\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\fs22\lang1036\langfe1033\langnp1036 
Pe de alta parte se poate intampla ca intreprinderile de talie mare sa aiba nevoi de creditare a unei singure banci. De regula, acolo unde gradul de dezvoltare a pietelor o permite, astfel de firme recurg direct la piete pentru a-si asigura finantarea far
a intermediari. O alta solutie o reprezinta constituirea de pool-uri bancare. Un }{\i\fs22\lang1036\langfe1033\langnp1036 pool bancar}{\fs22\lang1036\langfe1033\langnp1036 
 reprezinta ansamblul bancilor unei singure intreprinderi mari, ansamblu structurat si organizat de o maniera precisa. Aceasta solutie are dezavantajul ca dilueaza r
esponsabilitatea bancilor participante, dar si avantajul divizarii riscurilor. Pool-ul permite si participarea bancilor mici la finantarea marilor intreprinderi (operatie mai putin riscanta si mai putin costisitoare) si are autoritate mai mare in impunere
a unui plan de redresare a debitorului in caz de dificultate. 
\par }{\b\fs22\lang1036\langfe1033\langnp1036 Limitarea riscurilor}{\fs22\lang1036\langfe1033\langnp1036 
 are caracter normativ si autonormativ. Fiecare banca, in functie de calitatea mediului economic si de evolutia parametrilor sai proprii, asigura limitarea riscurilor in doua feluri: global si analitic, astfel:
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}}\pard \qj \fi-283\li566\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\ls32\ilvl1\adjustright\rin0\lin566\itap0 {\fs22\lang1036\langfe1033\langnp1036 
fixand o limita proprie, interna, angajamentul sau global in operatii riscante (dar rentabile). Se stabileste o limita maxima (75%) pentru ponderea activitatilor (plasamentelor) riscante in total active sau relativ la capitalul bancar;
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}
fixand plafoane de credite pe debitor, grup de debitori, sector de activitate sau zona geografica pentru a preveni ca modificari semnificative ale situatiei economice a acestor grupe sa-i afecteze negativ expunerea la risc.
\par }\pard \qj \fi727\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\fs22\lang1036\langfe1033\langnp1036 Se mai pot 
stabili plafoane de tip <<stop-loss>> care definesc riscurile maxime referitor la pierderile constatate sau la provizioanele constituite.
\par Foarte utile se pot dovedi si limitele interne stabilite pe baza unor scenarii de criza, limite greu de definit in mom
entul in care criza se produce; preferabil este ca banca sa fie pregatita pentru eventualitatea producerii unei crize, oricat de improbabila ar parea aceasta intr-un context dat.
\par Banca centrala, ca autoritate bancara, isi asuma responsabilitatea limitarii expunerii consolidate la risc in cadrul sistemului bancar, stabilind norme cu caracter obligatoriu. Rolul autoritatii bancare este de impulsionare, control si sanctionare.
\par Normele se refera la limitarea riscurilor si vizeaza }{\i\fs22\lang1036\langfe1033\langnp1036 imprumuturile mari}{\fs22\lang1036\langfe1033\langnp1036  acordate cli
entilor de catre societatile bancare (Normele BNR nr. 5/1992). Conform acestor norme un imprumut este considerat mare atunci cand suma tuturor imprumuturilor acordate unui singur debitor, inclusiv a garantiilor si a altor angajamente asumate in numele ace
s
tui client, depaseste 10% din capitalul propriu al societatii bancare. Se considera un singur debitor orice persoana sau grup de persoane fizice sau juridice care beneficiaza impreuna sau cu titlu individual de imprumuturi acordate de aceeasi banca si car
e
 sunt legate economic intre ele. Suma totala a acestor imprumuturi mari nu va putea depasi de 8 ori nivelul capitalului propriu al societatii bancare. Imprumuturile mari acordate unui singur debitor nu pot depasi 20% din capitalul propriu al unei societat
i bancare.
\par Aceste norme sunt aliniate la standardele europene, stipulate in Directiva privind riscurile mari (92/121/CEE). Debitorul mare este definit tot relativ la capital \endash  10% din capitalul propriu si capitalul suplimentar; nici unul dintre acesti debit
ori nu poate avea fata de banca angajamente mai mari de 25% din capital, iar daca debitorul este compania mama, o subsidiara sau alta companie afiliata la acelasi holding, atunci limita este de 20%. Suma acestor riscuri nu poate depasi de 8 ori capitalul 
bancii. regula a fost implementata de toate statele membre la nivel national pana la 1 ianuarie 1994. 
\par Cuantificarea expunerii globale a bancii la riscul de creditare se face prin analiza si monitorizarea permanenta a unui sistem de indicatori care se pot g
rupa in trei categorii: indicatori de pondere, indicatori de dinamica si indicatori relativi, de corelare a activelor cu capitalul bancar.
\par }{\b\fs22\lang1036\langfe1033\langnp1036 Indicatorii de structura}{\fs22\lang1036\langfe1033\langnp1036  sau de pondere exprima procentual, la un moment dat, structura activelor bancare 
sau a portofoliului de credite. Trebuie sa amintim ca din punctul de vedere al bancii risc de creditare nu prezinta doar operatia de creditare propriu-zisa; plasamantele in titluri de credit (intre operatiile bilantiere), acordarea de garantii (in afara b
ilantului) si participarea insesi a bancii la sistemul interbancar de decontari sunt purtatoare, si ele, de risc de creditare. }{\fs22 Ca indicatori de risc monitorizati se pot folosi urmatorii:
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}}\pard \qj \fi-283\li566\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\ls33\ilvl1\adjustright\rin0\lin566\itap0 {
\i\fs22\lang1036\langfe1033\langnp1036 credite totale raportate la total active;}{\fs22\lang1036\langfe1033\langnp1036  cu cat ponderea creditelor
 in total active este mai ridicata, cu atat activitatea bancara este perceputa ca fiind mai riscanta; prin politica de creditare se pot stabili un plafon al acestei masuri si/sau praguri de alerta. Daca valoarea portofoliului de valori mobiliare este semn
ificativa, atunci trebuie calculat si raportul dintre creantele totale asupra debitorilor (credite acordate + titluri de credit in portofoliu) si activele totale;
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab} }{\i\fs22\lang1036\langfe1033\langnp1036 credite de calitate medie raportate la creditele totale;}{\fs22\lang1036\langfe1033\langnp1036 
 este un indicator care exprima dir
ect ponderea creditelor de calitate inferioara in total credite. Creditele de calitate medie cuprind creditele in observatie + creditele sub standard si cele indoielnice (conform normelor BNR). Pentru portofoliul de obligatiuni se poate construi un indica
tor similar in functie de calificativele titlurilor din portofoliu (cele internationale), asa cum sunt ele acordate de agentiile de evaluare recunoscute (Moddy's sau Standard & Poor's);
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}}{\i\fs22\lang1036\langfe1033\langnp1036 pierderi}{\fs22\lang1036\langfe1033\langnp1036  }{\i\fs22\lang1036\langfe1033\langnp1036 
la portofoliul de credite raportate la valoarea totala a portofoliului de credite;}{\fs22\lang1036\langfe1033\langnp1036 
 valoarea acestui raport trebuie sa fie cat mai mica pentru ca portofoliul sa fie gestionat eficient din punct de vedere al riscului de creditare. Aceasta marime serveste si 
reper pentru stabilirea rezervelor la portofoliul de credite din care sunt acoperite aceste pierderi. Analog se poate calcula valoarea raportului pierderi la portofoliul de titluri de credite raportate la valoarea totala a portofoliului de titluri de cred
it.
\par }\pard \qj \fi727\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\b\fs22\lang1036\langfe1033\langnp1036 Indicatorii de dinamica}{\fs22\lang1036\langfe1033\langnp1036 
 exprima evolutia in timp a unor indicatori valorici a caror marime este corelata cu evolutia riscului de creditare ex ante sau post factum.
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}}\pard \qj \fi-283\li283\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\ls34\adjustright\rin0\lin283\itap0 {\i\fs22\lang1036\langfe1033\langnp1036 
Dinamica fondului de rezerva pentru acoperirea pierderilor}{\fs22\lang1036\langfe1033\langnp1036  la portofoliul de credite ex
prima (ex ante) felul in care conducerea bancii anticipa evolutia expunerii la riscul de creditare: cu cat cresterea rezervelor planificate pentru care se constituie provizioane este mai mare, cu atat se poate presupune ca banca anticipa pierderi mai mari
si ca, deci, este de asteptat o scadere a calitatii portofoliului de credite. Aceasta informatie trebuie interpretata in contextul dat de dinamica portofoliului de credite insusi caci, daca cei doi parametrii cresc in acelasi ritm, atunci nu poate fi vorb
a
 de o crestere a expunerii la risc. In functie de reglementarile legale privind constituirea si finantarea fondului de rezerva pentru pierderi din creditare, se poate ca banca sa foloseasca o politica diferita de finantare a fondului pentru obtinerea unor
avantaje fiscale; si atunci este clar ca dinamica pronuntata a indicatorului nu poate semnifica o crestere a expunerii la risc. Indicatorul este mai ales de uz extern, fiind folosit la nivelul intregului sistem bancar ca un semnal de alarma pentru terti s
i larg mediatizat de presa de specialitate.
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab} }{\i\fs22\lang1036\langfe1033\langnp1036 Dinamica activelor si, }{\fs22\lang1036\langfe1033\langnp1036  mai ales, }{
\i\fs22\lang1036\langfe1033\langnp1036  a creditelor totale, }{\fs22\lang1036\langfe1033\langnp1036  sunt interpretate ca indicatori ai riscului de creditare atunci cand exprima o crestere accelerata. Aceasta deoarece se presupune ca fiecare institutie b
ancara are o capacitate limitata de a gestiona corect un portofoliu de un anumit volum. Aceasta capacitate este limitata de performantele personalului, de cadrul politicii de creditare, de structura organizatorica, de ansamblul resurselor bancii si de mod
u
l lor de gestionare. O crestere accelerata (de exemplu de 50% intr-un an) a valorii reale (in preturi constante) a portofoliului de credite sau a activelor totale nu poate fi gestionata convenabil sau cel putin comparabil cu nivelul de performanta din ani
i
 anteriori din cadrul acelorasi structuri si folosind aceleasi resurse. Pe de alta parte, adecvarea insasi acestor resurse si structuri la presiunea exercitata de volumul sporit de activitate reprezinta un factor perturbator pana la restabilirea unui nive
l
 rezonabil de echilibru intre capacitatile bancare de prelucrare a informatiei si volumul acesteia. Capacitatea deficitara de prelucrare a informatiei este un factor de risc caci sunt (ne) sanse mai mari de strecurare a unor erori (in cadrul unor procedur
i clasice de tratament).
\par }\pard \qj \fi727\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\b\fs22\lang1036\langfe1033\langnp1036 Indicatorii relativi,}{\fs22\lang1036\langfe1033\langnp1036 
 de corelare a activelor bancare cu capitalul si fondurile bancare, sunt important de urmarit deoarece dau o expresie cantitativa a raportului dintre expunerea la risc si sursa de finantare a acestei expuneri. }{\fs22 Se pot folosi ca indicatori:
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}}\pard \qj \fi-283\li283\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\ls35\adjustright\rin0\lin283\itap0 {\i\fs22\lang1036\langfe1033\langnp1036 
profitul net raportat la pierderile la portofoliul de credit;}{\fs22\lang1036\langfe1033\langnp1036 
 profitul net este sursa principala de finantare a pierderilor, dar acoperirea acestora nu este singura sa destinatie. Calculat in aceasta forma, indicatorul este ce
l mai adesea supraunitar. El se poate calcula si sub forma inversa, dar atunci este in mod evident subunitar. Important este ca resursele sa fie acoperitoare. Oricum evolutia raportului poate fi extrem de semnificativa.
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab} }{\i\fs22\lang1036\langfe1033\langnp1036 Raportul dintre fondul de rezerva si pierderile inregistrate}{\fs22\lang1036\langfe1033\langnp1036 
 la portofoliul  de credite. Acest raport trebuie sa fie mai mare de 1 pentru a putea aprecia ca managementul este prudent.
\par }\pard \qc \li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\fs22\lang1036\langfe1033\langnp1036 Valoarea acestor indicatori ne permite sa apreciem calitatea portofoliului de credite si evolutia acestui
a. Pentru uz intern, deoarece datele sunt accesibile fara restrictii, toti acesti indicatori se pot calcula si deci pot fi interpretati in mod corelat, analizati si folositi pentru a fundamenta politica de credit. In afara bancii, majoritatea acestor indi
c
atori pot fi calculati cu o relativa intarziere pe baza datelor din bilantul si repartizarea profitului publicate de banci. Ei pot fi folositi pentru a se aprecia calitatea managementului bancar de catre operatorii de pe pietele financiare si de autoritat
ea bancara.\page }{\b\fs22 Capitolul 4.
\par  }{\b\scaps\fs22 operatiuni bancare privind garantia creditelor
\par }\pard \qj \li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\fs22 
\par 
\par }\pard \qc \li1063\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin1063\itap0 {\b\fs22\lang1036\langfe1033\langnp1036 4.1 Evaluarea riscului in activitatea de creditare
\par }\pard \qj \fi712\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\b\fs22\lang1036\langfe1033\langnp1036 
\par }{\fs22\lang1036\langfe1033\langnp1036 Bancile trebuie sa identifice riscurile fiecarei cereri si propuneri de creditare, sa le recunoasca si sa contribuie la reducerea 
si chiar la eliminarea lor. Pentru aceasta, este necasarsi un studiu de senzitivitate sau risc, pentru ca numai in acest fel acesta se poate reduce sau elimina. In functie de acest studiu se aproba sau se refuza cererile de creditare. 
\par Reducerea riscului s
e poate realiza numai pe baza cunoasterii aprofundate a clientilor bancii a tuturor factorilor de decizie controlabili sau necontrolabili, a tuturor rezultatelor realizate ca urmare a aprobarii liniei de credit respective. Bancile trebuie sa cunoasca bine
 si factorii care conduc la nereusita si esecul afacerii. Riscul creditarii poate fi privit ca fiind inerent si se poate regasi in documentele, rapoartele, sintezele realizate la nivelul agentului economic care imprumuta de la banca.
\par Acordarea creditelor es
te mai putin riscanta daca perioada de rambursare este mai scurta. De exemplu, pentru creditele pe termen scurt, riscul este mai mic. De aceea, specialistii bancii trebuie sa faca estimari cantitative cu privire la perioada de rotatie a capitalului circul
ant. }{\fs22 Se au in vedere in acest sens:
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'96\tab}}\pard \qj \fi-283\li566\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\ls36\ilvl1\adjustright\rin0\lin566\itap0 {\fs22 durata stocurilor de materii prime;
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'96\tab}durata stocurilor productiei neterminate;
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'96\tab}durata stocarii produselor finite;
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}}{\fs22\lang1036\langfe1033\langnp1036 durata incasarilor de la debitori;
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'96\tab}}{\fs22 durata platilor catre furnizori.
\par }\pard \qj \fi712\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\fs22 
In evaluarea riscului creditarii, specialistii bancii au in vedere si problemele pe care le poate avea agentul economic la incheierea ciclului de fabricatie, comercializare si transferarea activelor in numerar.
\par }{\fs22\lang1036\langfe1033\langnp1036 Riscul de creditare se include in tipul de ri
sc financiar, care priveste structura finantarii afacerii. Acest risc financiar are un mare grad de dependenta de capacitatea clientului de a realiza performante si indeosebi profit, intrucat acesta este cel din care se ramburseaza datoria. Tot cu ajutoru
l profitului si al altor performate se perfectioneaza structura capitalului.
\par Bancile realizeaza evaluarea riscului in cadrul unui program complex de analiza a documentatiei de credit si de stabilire a garantiilor. }{\fs22 Aceasta evaluare a riscului este o componenta a strategiilor bancilor comerciale. }{
\fs22\lang1036\langfe1033\langnp1036 Aceasta intrucat, in analiza complexa se determina resursele, limitele, politica economica a clientului, se fac aprecieri cu privire la legislatia economico-financiara, piata produsului si strategiile impartirii piete
i.
\par }{\fs22 Indicatorii cei mai utilizati in analiza riscului de creditare sunt:
\par {\listtext\pard\plain\fs22\lang1036\langfe1033\langnp1036 \hich\af0\dbch\af0\loch\f0 1.\tab}}\pard \qj \fi-283\li849\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\ls37\ilvl2\adjustright\rin0\lin849\itap0 {\fs22\lang1036\langfe1033\langnp1036 
Raportul lichiditate / datorie totala pentru agentul economic.
\par {\listtext\pard\plain\fs22\lang1036\langfe1033\langnp1036 \hich\af0\dbch\af0\loch\f0 2.\tab}Raportul profit brut / datorie totala pentru agentul economic.
\par {\listtext\pard\plain\fs22 \hich\af0\dbch\af0\loch\f0 3.\tab}}{\fs22 Raportul datorii totale / (active totale pentru agentul economic care se imprumuta).
\par }\pard \qj \fi712\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\fs22 
Determinarea acestor indicatori se face pe perioade comparative si prin evaluarea tendintelor. Pentru o apreciere financiara generala asupra afacerii (creditarii) se mai foloseste analiza multivariabila, bazata pe modelu
l "Z" dezvoltat de J. Altman. Acest model se prezinta astfel:
\par }\pard \qj \fi727\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\fs22 1.2X1 +1.4X2 +3.3X3 +0.6X4 +1.0X5, unde 
\par X1 : capitalul circulant/active totale;
\par X2 : profit net capitalizat/total active;
\par }{\fs22\lang1036\langfe1033\langnp1036 X3 : datorii totale/total active;
\par X4 : valoarea totala a capitalului actionarilor/total datorii;
\par X5 : cifra de afaceri/total active.
\par 
\par Altman considera ca la un punctaj mai mic de 1.8 agentul economic in cauza are mari sanse sa dea faliment. Un punctaj mai mare de 2.7 da garantia ca agentul economic ce imprumuta nu va da faliment. }{\fs22 
Metodele bancare de evaluare a riscului au in vedere urmatorii factori:
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'96\tab}}\pard \qj \fi-283\li566\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\ls38\ilvl1\adjustright\rin0\lin566\itap0 {\fs22 depasiri ale limitelor de creditare;
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'96\tab}cresterea inexplicabila a limitelor facilitatilor de finantare;
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'96\tab}furnizarea de informatii financiare cu intarziere;
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}}{\fs22\lang1036\langfe1033\langnp1036 un raport defavorabil intre datorii si fonduri proprii;
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'96\tab}}{\fs22 modificari in conducere;
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}}{\fs22\lang1036\langfe1033\langnp1036 dezacordul intre datele contabile si de buget pe de o parte si datele de control;
\par }\pard \qj \fi727\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\fs22\lang1036\langfe1033\langnp1036 Alte institutii sau organisme internationale au fixat si o "lista" cu unii factori majori de risc:
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'96\tab}}\pard \qj \fi-283\li566\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\ls39\ilvl1\adjustright\rin0\lin566\itap0 {\fs22 ponderea capitalului in active fixe este prea mare;
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'96\tab}fonduri de rezerva reduse;
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'96\tab}amplasare gresita;
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'96\tab}erori in gestionarea stocurilor;
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'96\tab}expansiune necontrolata;
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'96\tab}capitalizare insuficienta;
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'96\tab}experienta putina;
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'96\tab}probleme de personal;
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'96\tab}birocratie.
\par }\pard \qj \fi727\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\fs22\lang1036\langfe1033\langnp1036 
Banca ce acorda imprumutul intocmeste o lista mai cuprinzatoare decat cea expusa anterior. Ea trebuie sa cuprinda toti factorii de risc micro si macroeconomic.
\par Exista urmatoarele forme de risc de creditare:
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'96\tab}}\pard \qj \fi-283\li566\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\ls40\ilvl1\adjustright\rin0\lin566\itap0 {\fs22 neindeplinirea obligatiilor agentului economic 
stipulate in contractul de credit;
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'96\tab}modificarea ratei dobanzii pe perioada de creditare;
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'96\tab}modificarea puterii de cumparare a monedei nationale.
\par }\pard \qj \fi727\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\fs22 In principal, neindeplinirea obligatiilor contractuale decurge din lipsa de lichiditate si solvabilitate a agentului economic imprumutat.
\par Pentru a reduce sau chiar elimina riscul de  creditare, bancile folosesc mai multe metode, printre care:
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}}\pard \qj \fi-283\li566\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\ls41\ilvl1\adjustright\rin0\lin566\itap0 {\fs22\lang1036\langfe1033\langnp1036 
clauze suplimentare de garantare si protectie a capitalului imprumutat;
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'96\tab}}{\fs22 diversificarea produselor si serviciilor bancare;
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'96\tab}introducerea primei de risc in rata dobanzii practicate.
\par }\pard \qj \fi727\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\fs22\lang1036\langfe1033\langnp1036 
Intrucat despre diversificarea produselor si serviciilor s-a mai amintit in cadrul acestei lucrari, in cele ce urmeaza vom prezenta modul de determinare a primei de risc. }{\fs22 Se au in vedere urmatoarele repere:
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}}\pard \qj \fi-283\li283\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\ls42\adjustright\rin0\lin283\itap0 {\fs22\lang1036\langfe1033\langnp1036 
tendinta bancii de valorificare a capitalului imprumutat pe care o notam cu 1 + v;
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}tendinta de diminuare a capitalului imprumutat, notata cu 1 \endash  d (care apare atunci cand o parte a creditului nu este restituita).
\par }\pard \qj \fi727\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\fs22\lang1036\langfe1033\langnp1036 Tinand seama de prima de risc, rata dobanzii devine:
\par 
\par R}{\fs22\lang1036\langfe1033\sub\langnp1036 dr}{\fs22\lang1036\langfe1033\langnp1036  = (1 + v)/(1 \endash  d) \endash  1
\par 
\par unde R}{\fs22\lang1036\langfe1033\sub\langnp1036 dr}{\fs22\lang1036\langfe1033\langnp1036  = rata dobanzii cu prima de risc.
\par 
\par Practic, prima de risc se aduga la dobanda pietii. Se ia in calcul, media dobanzii pietei (se face pe trimestrele sau semestrele unui an).
\par Exemplu practic:
\par 20% din credite nu pot fi recuperate;
\par }{\fs22 57% dobanda in primul semestru;
\par 40% in semestrul al doilea.
\par 
\par R}{\fs22\sub d}{\fs22  = (57 + 40)/2 = 48.5%
\par 
\par R}{\fs22\sub dr}{\fs22  = (1 + 0.485)/(1 \endash  0.2) \endash  1 = 85.6%
\par Factorii de risc:
\par {\listtext\pard\plain\fs22\lang1036\langfe1033\langnp1036 \hich\af0\dbch\af0\loch\f0 1.\tab}}\pard \qj \fi-283\li849\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\ls43\ilvl2\adjustright\rin0\lin849\itap0 {\fs22\lang1036\langfe1033\langnp1036 
Supradimensionarea volumului afacerii fata de posibilitatile existente.
\par {\listtext\pard\plain\fs22 \hich\af0\dbch\af0\loch\f0 2.\tab}}{\fs22 Structura necorespunzatoare a capitalului (existenta unui capital prea mare in active fixe si prea mic in active circulante).
\par {\listtext\pard\plain\fs22 \hich\af0\dbch\af0\loch\f0 3.\tab}Capitalizarea necorespunzatoare (profit reinvestit, dividende foarte mari sau prea mari sau prea multe).
\par }\pard \qj \fi727\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\fs22 Simptome de risc:
\par {\listtext\pard\plain\fs22 \hich\af0\dbch\af0\loch\f0 1.\tab}}\pard \qj \fi-283\li849\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\ls44\ilvl2\adjustright\rin0\lin849\itap0 {\fs22 Semnale financiare (cresterea stocurilor, intarzierea platilor);
\par {\listtext\pard\plain\fs22 \hich\af0\dbch\af0\loch\f0 2.\tab}Contabilitatea "creativa", "aranjarea unor indicatori";
\par {\listtext\pard\plain\fs22\lang1036\langfe1033\langnp1036 \hich\af0\dbch\af0\loch\f0 3.\tab}}{\fs22\lang1036\langfe1033\langnp1036 Semnale nefinanciare (refuzuri pentru calitatea produselor, depasirea termenelor de contracte);
\par {\listtext\pard\plain\fs22\lang1036\langfe1033\langnp1036 \hich\af0\dbch\af0\loch\f0 4.\tab}Alte semnale (plecari de personal, actiuni in tribunal, zvonuri etc.).
\par }\pard \qj \fi727\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\fs22\lang1036\langfe1033\langnp1036 Reducerea riscului se realizeaza si prin urmarirea indicatorilor utilizati de anliza financiara.
\par 
\par }\pard \qc \fi727\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\b\fs22\lang1036\langfe1033\langnp1036 4.2 Determinarea formelor de garantie a creditelor
\par }\pard \qj \fi727\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\fs22\lang1036\langfe1033\langnp1036 
\par Necesitatea garantarii creditelor decurge din existenta riscului imprumutului. Deci banca trebuie sa asigure ca agentii economici care trebuie sa se imprumute au capacitatea restituirii creditelor si ofera posibilitatea recuperarii acestora si a dobanzilo
r aferente, cand nu isi achita aceste obligatii.
\par Posibilitatile de rambursare sunt determinate pe baza analizei financiare si economice, a altor indicatori, date, studii, avizari. Se pune accent pe indicatorii economico-financiari si pe proiecte de investit
ii prezentate la banca si pentru care se solicita credite. Studiul de fezebilitate trebuie sa constituie si de data aceasta (a stabilirii operatiilor) documetului principal. Se deduce din afirmatia de mai sus, ca existenta si determinarea exacta a garanti
i
lor este mai importanta in cazul creditelor pe termen lung. Este firesc sa fie asa, intrucat imobilizarea fondurilor in credite este mai mare si mai de lunga durata in cazul creditarii obiectivelor este normal ca garantiile imobiliare nu pot fi puse de re
g
ula in cazul creditelor pe termen scurt, intrucat patrimoniul agentului economic ar fi in permanent pericol de a se faramita si diminua. Se poate afirma ca garantiile reprezinta acoperirea materiala a datoriilor legate de creditele solicitate sau acordate
.
\par In practica internationala si cea romanesca exista trei tipuri principale de garantii pentru credite si anume:
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'96\tab}}\pard \qj \fi-283\li283\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\ls45\adjustright\rin0\lin283\itap0 {\fs22 garantii reale
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'96\tab}garantii personale
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'96\tab}alte garantii.
\par }\pard \qj \li283\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin283\itap0 {\fs22 
\par }\pard \qj \fi720\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\fs22\lang1036\langfe1033\langnp1036 Garantiile constituie deci un privilegiu pentru banca in raport cu alti creditori. Garan
tiile pentru credite sunt asiguratorii si sunt oferite, atat de agentii economici care imprumuta, cat si de alte persoane juridice sau fizice, care devin in acest fel garanti.
\par }\pard \qj \fi727\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\fs22\lang1036\langfe1033\langnp1036 Garantia este asa de importanta incat exista si o clasificare a creditelor acord
ate de bancile comerciale. Astfel, exista creditul garantat sau acoperit si creditul negarantat cu valori materiale. Creditul negarantat poate fi individual, cand se acorda unei persoane fizice fara nici o obligatie sau formalitate, creditul cu gir person
al, pentru fiecare operatiune si creditul prin scont de polite. In acest din urma caz, mai multe persoane prin obligatii luate anterior, garanteaza rambursarea la scadenta. 
\par 
\par 
\par }\pard \qc \fi727\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\b\fs22\lang1036\langfe1033\langnp1036 4.3 Garantii reale
\par }\pard \qj \fi727\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\fs22\lang1036\langfe1033\langnp1036 
\par 
\par }{\b\fs22\lang1036\langfe1033\langnp1036 Garantia reala}{\fs22\lang1036\langfe1033\langnp1036  reprezinta un activ acordat de catre un debit
or unui creditor (in cazul nostru banca ce a acordat imprumutul), astfel incat datoria sa fie insotita de o anumita siguranta. Deci o garantie reala este intotdeuna un element de activ mobiliar sau imobiliar. }{\fs22 
Garantia reala consta in rezervarea unor bunuri individualizate in scopul garantarii creditului. }{\fs22\lang1036\langfe1033\langnp1036 
Garantiile reale cuprind ipotecile si gajurile. Pentru a nu fi contestate, garantiile reale trebuie sa indeplineasca anumite conditii: 
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}}\pard \qj \fi-283\li566\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\ls46\ilvl1\adjustright\rin0\lin566\itap0 {\fs22\lang1036\langfe1033\langnp1036 
renuntarea debitorului si punerea gajului in posesia creditorului (bancii) sau a unei terte persoane convenite de cele doua parti;
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}este necesar sa se incheie un contract, care sa expliciteze creditul si sa precizeze garantiile consimtite;
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}garantiile reale impun o responsabilitate din partea celor care le pastreaza; ei raspund de conservarea bunurilor ipotecate sau luate in gaj;
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}bunurile ce constituie garantii, nu se pot elibera decat cu acordul creditorului;
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'96\tab}}{\fs22 garantiile sa nu fie luate in perioadele periculoase ale unei tari (criza economica, inflatie galopanta, razboi);
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}}{\fs22\lang1036\langfe1033\langnp1036 
banca trebuie sa fie constienta de faptul ca gajul sau poate fi preluat de catre un alt creditor privilegiat (bugetul statului).
\par }\pard \qj \fi727\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\fs22\lang1036\langfe1033\langnp1036 Banca mai poate fi afectata si de grija puterii politice de a ajuta sa supravietuiasca agenti economic
i cu dificultati. Este clar ca in acest caz se micsoreaza drepturile creditorilor beneficiari de ipoteci sau gaj. Este cazul cu ceea ce se intampla in tara noastra in aceasta perioada.
\par Din aceasta cauza, banca trebuie sa acorde credite nu numai in functie de valoarea gajului, ci sa se aiba in vedere si justificarile economice si financiare. }{\fs22 
Acestea din urma pot descoperi riscuri serioase, care atrag dupa ele dificultati majore. Ca urmare, nu este eficient ca o banca sa acorde credite pe gaj, cu unele except
ii, cum ar fi avansul pe marfuri, credite acordate societatilor de comert exterior, credite pe perioade foarte scurte. Creditele care cer o garantie reala necesita o depunere in gaj a unor active. }{\fs22\lang1036\langfe1033\langnp1036 
Vorbind de creditele pe termen scurt, gajul cuprinde active circulante (avansurile pe titluri, avansuri pe marfa si avansul pe piata). 
\par Avansul pe titluri este mai putin folosit, intrucat agentii economici nu au interesul sa detina in portofoliul lor, titluri cu negociere curenta. Totusi unii agenti economici patr
und pe piata si procura titluri de valoare in scopul realizarii unui profit maxim. Aceste titluri pot constitui garantie pentru creditele acordate in scopul satisfacerii nevoilor de fonduri de rulment ale agentului economic.
\par }{\fs22 Avansul pe titluri poate fi luat mai mult in consideratie in viiitor pentru garantarea creditelor acordate persoanelor fizice.
\par }{\fs22\lang1036\langfe1033\langnp1036 Avansul pe marfa este un credit ce se acorda pentru industrie si comert. Pentru acest credit sunt luate in consideratie marfuri, care sunt constituite in gaj la
 banca. Avansul pe piata este o alta forma de creditare a productiei si are in vedere un activ circulant (productia neterminata, produse finite). Bancile manifesta o oarecare prudenta pentru astfel de creditari. Se apeleaza la adjudecari si licitatii si p
entru ele se elibereaza cautiuni si garantii. 
\par Gajul este un accesoriu al contractului de credite. Prin el se remite bancii un bun mobil pentru garantarea creditului. Aceste bunuri trebuie sa faca obiectul vanzarii-cumpararii, deci sa fie cuprinse in circui
tul civil. Gajul este de doua feluri si anume:  cu deposedare si fara deposedare.
\par Gajul cu deposedare se mai numeste si amanet si presupune depunerea bunului mobil la banca. Obiectele gajului cu deposedare pot fi reprezentate de bunuri de volum mic si valoare mare (metale pretioase, opere de arta, bijuterii).
\par Gajul fara deposedare se aplica numai asupra produselor solului, materiilor prime industriale, produselor in curs de fabricatie sau deja fabricate si aflate in depozit. Pentru ca aceste produse sa poat
a fi luate in garantie, se cere indeplinirea urmatoarelor conditii:
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}}\pard \qj \fi-283\li566\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\ls47\ilvl1\adjustright\rin0\lin566\itap0 {\fs22\lang1036\langfe1033\langnp1036 
sa existe posibilitatea reala de obtinere a lor;
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}sa se afle la agentii economici sau in depozit;
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}sa existe o piata sigura de valorificare a produselor.
\par }\pard \qj \fi727\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\fs22\lang1036\langfe1033\langnp1036 Gajarea se face in ambele cazu
ri printr-un contract incheiat separat de contractul de credite, intre banca si agentul economic ce solicita imprumutul. 
\par }{\b\fs22\lang1036\langfe1033\langnp1036 Ipoteca}{\fs22\lang1036\langfe1033\langnp1036  reprezinta o garantie, care nu presupune deposedarea celui ce o
 prezinta in vederea obtinerii creditului. Cel care constituie ipoteca poate fi debitorul sau un garant. Drept obiect al ipotecii se pot lua in consideratie numai bunurile imobile actuale, nu si cele viitoare. Aceste bunuri trebuie sa fie incluse in circu
itul civil si sunt formate din terenuri si cladiri de orice fel.
\par Bunurile ipotecate pot fi luate in garantie numai la valoarea de asigurare, cand ele apartin persoanelor fizice, sau numai la valoarea de inregistrare in contabilitate daca apartin agentilor economici. }{\fs22 
Persoanele fizice pot cere reevaluarea bunurilor ipotecate, daca considera ca valoarea reala a acestora este mai mare decat cea de asigurare.
\par }{\fs22\lang1036\langfe1033\langnp1036 Bunurile imobile trebuie sa indeplineasca urmatoarele conditii pentru a putea fi luate in consideratie la garantie:
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}}\pard \qj \fi-283\li566\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\ls48\ilvl1\adjustright\rin0\lin566\itap0 {\fs22\lang1036\langfe1033\langnp1036 
sa poate fi vandute-cumparate;
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}sa permita amenajari si adaptari;
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'96\tab}}{\fs22 sa fie asigurate;
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}}{\fs22\lang1036\langfe1033\langnp1036 sa existe un inscris la notariat prin care sa se specifice valoarea bunului garantat;
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}cel ce constituie ipoteca sa aiba deplina capacitate de exercitiu asupra bunului ipotecat.
\par }\pard \qj \fi727\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\fs22\lang1036\langfe1033\langnp1036 
Ipoteca trebuie inscrisa in registrul special de transcriptiuni si inscriptiuni sau in cartea funciara de la Judecatorie. Stingerea ipotecii are loc, in general odata cu plata ultimei rate scadente la creditul garantat din ea. 
\par 
\par 
\par }\pard \qc \fi727\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\b\fs22\lang1036\langfe1033\langnp1036 4.4 Garantii personale
\par }\pard \qj \fi727\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\fs22\lang1036\langfe1033\langnp1036 
\par 
\par Garantiile personale reprezinta aranjamentele agentilor economici si persoane fizice prin care acestia se obliga sa suporte datoriile debitorilor catre banca pentru creditele acordate. Acest tip de garantie mai poarta denumirea de 
cautiune sau fidejusiune si este valabil daca sunt indeplinite urmatoarele conditii:
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}}\pard \qj \fi-283\li566\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\ls49\ilvl1\adjustright\rin0\lin566\itap0 {\fs22\lang1036\langfe1033\langnp1036 
sa existe un contract separat prin care o persoana fizica sau juridica se obliga sa garanteze obligatiile agentului economic imprumutat cu intregul sau patrimoniu;
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}cel ce garanteaza sa aiba deplina capacitate (sa aiba 18 ani daca este persoana fizica, sau sa fie legal constituita in cazul persoanei juridice);
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'96\tab}}{\fs22 garantul sa fie solvabil;
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}}{\fs22\lang1036\langfe1033\langnp1036 garantul sa domicilieze sau sa aiba sediul in judetul unde functioneaza banca ce acorda creditul;
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}patrimoniul ce se constituie garantie sa nu fie afectat de alte datorii sau obligatii.
\par }\pard \qj \fi727\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\fs22\lang1036\langfe1033\langnp1036 
Cautiunea sau garantia personala poate fi materializata si prin scrisoarea de garantie bancara. Aceasta este garantia data de o banca in favoarea unui 
agent economic sau persoane fizice care contracteaza un credit bancar. Scrisoarea de garantie bancara poate avea o diversitate de forme, dar trebuie sa cuprinda urmatoarele elemente obligatorii:
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}}\pard \qj \fi-283\li566\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\ls50\ilvl1\adjustright\rin0\lin566\itap0 {\fs22\lang1036\langfe1033\langnp1036 
sa precizeze clar suma creditului pentru care se emite garantia;
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'96\tab}}{\fs22 titularul creditului;
\par {\listtext\pard\plain\f153\fs22 \loch\af153\dbch\af0\hich\f153 \'96\tab}beneficiarul garantiei;
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}}{\fs22\lang1036\langfe1033\langnp1036 termenul de valabilitate a garantiei (care nu poate fi mai mic decat termenul de rambursare a creditului);
\par {\listtext\pard\plain\f153\fs22\lang1036\langfe1033\langnp1036 \loch\af153\dbch\af0\hich\f153 \'96\tab}sa fie datata si semnata de banca ce emite scrisoarea (de persoanele ce angajeaza si reprezinta, patrimonial, banca).
\par }\pard \qj \fi727\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\fs22\lang1036\langfe1033\langnp1036 
\par 
\par }\pard \qc \fi727\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\b\fs22\lang1036\langfe1033\langnp1036 4.5 Alte garantii 
\par }\pard \qj \fi727\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\fs22\lang1036\langfe1033\langnp1036 
\par Gajul general este un gaj comun la dispozitia tuturor creditorilor, acestia avand o pozitie egala fata de bunurile debitorului impotriva caruia se deruleaza executarea silita. De acest gaj nu confera banci
i privilegiu de a-si recupera singura datoriile (ca in cazul garantiilor reale), ceea ce inseamna ca riscurile ei sunt mult mai mari. 
\par }{\b\fs22\lang1036\langfe1033\langnp1036 Gajul}{\fs22\lang1036\langfe1033\langnp1036  general cuprinde intreg patrimoniul debitorului, deci atat bunurile mobile, cat si cele imobile. El reprezinta o ga
rantie prin efectul legii (chiar daca nu s-a incheiat un inscris separat).
\par }{\b\fs22\lang1036\langfe1033\langnp1036 Depozitele in lei si valuta}{\fs22\lang1036\langfe1033\langnp1036 
 Este vorba numai de disponibilitatile banesti constituite in depozite distincte, create special in scopul garantiei creditelor. Aceste depozite se constituie pe baza unor contracte de gaj cu deposedare.
\par 
\par 
\par 
\par 
\par 
\par 
\par 
\par }\pard \qc \fi727\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\b\fs22 4.6 Asigurarea activelor imprumutatilor
\par constituite garantie a creditelor
\par }\pard \qj \fi727\li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\fs22 
\par }{\fs22\lang1036\langfe1033\langnp1036 
Bunurile constituite garantie sunt asigurate pe toata durata creditarii. Asigurarea se face la valorile cu care bunurile respective sunt luate in calcul la fixarea garantiei. Daca totusi asigurarea se face doar pe un singur an, ea trebuie reinnoita anual 
d
e catre agentul economic imprumutat. Imobilele sunt luate in garantie la valoarea de asigurare inscrisa la administratia financiara. Toate drepturile cu titlu de despagubiri din asigurarea bunurilor sunt acceptate de banca drept garantie a creditelor acor
date bancii creditoare. Imprumutatii sunt obligati sa predea  bancii politele de asigurare, care se pastreaza la aceasta pana la rambursarea tuturor creditelor si dobanzilor.
\par }\pard \ql \li0\ri0\nowidctlpar\hyphpar0\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\lang1036\langfe1033\langnp1036 
\par }}