Credit Operations Research Articles

Microfinance Providers and Rural Lending in the Province of Carniola Before 1914: a Case Study of the District Credit Cooperative Litija

The study provides new insights and compares two different types of microfinance intermediaries and their role and impact on the economic and financial situation of the rural population before the beginning of World War I. The abolition of serfdom in the Habsburg monarchy in 1848 had a significant impact on traditional life in the second half of the 19th century. Peasants became landowners, and their participation in the market and monetary economy became crucial. The development of microfinance intermediaries, such as savings banks and credit cooperatives, was essential for the financial inclusion of the rural population. The article shows the development of credit operations in a rural environment using the example of the District Credit Cooperative Litija.

Nexus between green credit efficiency and strategic, business and management digital transformation–based on 114 commercial banks in China

With the expansion of green finance and the digital economy, the discussion on the evolution of green credit business and the digitalization of commercial banks have grown in prominence. However, limited research has been done on how different degrees of digital transformation in commercial banks—the main issuers—affect the way of green credit efficiency. To fill this gap, based on data from 114 Chinese commercial banks between 2010 and 2021, this paper explores the impact of digitalization on the green credit efficiency through the integration of several methodologies. The paper indicates that enhancing the digitalization, business digitization, and management digitization of commercial banks can greatly enhance the effectiveness of green credit businesses, but the impact of strategic digitization is not significant. Further analysis reveals that digitization facilitates the expansion of overall bank assets, thereby bolstering the green credit business. It also investigates the characteristics of commercial banks and the geographical distribution of their headquarters, indicating a diminished promotional impact for urban and rural banks, as well as banks in the central areas. Finally, this study contends that commercial banks ought to leverage digital resources extensively to facilitate digital transformation and bolster the advancement of green credit operations. It is also recommended that the government should implement preferential policies for regions and banks exhibiting slower developmental progress.

Fast payment, credit and bank diversification: the impact of Pix adoption on the local credit market structure

PurposeIn this article, the research objective is to empirically investigate the effect of the adoption of the Brazilian instant payment system, Pix, on the local credit market structure and the diversification of the banking system in Brazilian municipalities.Design/methodology/approachBy analyzing the data, in this study, we compile and align data from supervisory and public sources, covering the period from 2019 to 2022 in Brazil. As of 2014, Brazil was comprised of 5568 municipalities distributed across five regions: North (450 municipalities), Northeast (1792), Midwest (467), Southeast (1668) and South (1191), according to the Brazilian Institute of Geography and Statistics (IBGE). Our analysis relies on the volume and quantity of Pix to the outstanding credit operations in Brazil.FindingsThis article provides evidence that the widespread adoption of Pix has impacted the financial structure of municipalities. This analysis of banking concentration in the country and municipalities, based on banking relationships, helped us assess whether the adoption of Pix had any correlation with the increase in credit lines. Overall, the results from the statistical tables suggest that the adoption of Pix may be having a positive impact on the local credit market structure.Originality/valueThe originality contribution of the study is to initiate an investigation into the impact of this instant payment system, Pix, on the Brazilian reality. Pix was launched in 2020, amid the COVID-19 pandemic, and had significant numbers, such as over 61% of the adult population having at least one Pix key registered in a little over a year; about 100 million people made at least one payment with Pix; and more than 1.4 billion transactions per month, with 72% between individuals, as presented by the REB 2021.

Operational Audit in Defining Credit Operation Rates

Objective: The objective of the study is to verify how the application of operational auditing in the rates of credit operations of a financial institution can instrumentalize management in the decision-making process. Theoretical Framework: In order to build the theoretical basis to interpret the empirical data, the authors reviewed the scientific literature that deals with operational auditing, internal controls, standards, regulations and legislation applied to auditing. Method: The methodology adopted comprises descriptive research, with a qualitative approach and a case study in a large financial institution, containing characteristics and mechanisms specific to the organization in question. Data collection through semi-structured interviews with the institution's managers, directly linked to credit operations, in addition to documentary survey and observation. Results and Discussion: The results of the research showed fluctuations between the positions of the audited financial institution, regarding the items highlighted in each criterion when defining the credit rate. It is also possible to identify high levels of irregularities in some criteria for defining the rates adopted. Implications of the Research: The research contributes to the literature through its practical propositions regarding the performance of operational audits, in which it was found that internal controls must be improved with the aim of reducing notes and irregularities found in the definition of rates for credit operations of the financial institution. Originality/Value: The research highlights the relevance of auditing in the qualification of internal controls and efficient management to combat errors or fraud, a topic that is still little explored in scientific literature.

Federal Public Resources in Response to Natural Disasters in Rio Grande do Sul

Objective: The objective of this study is to analyze the sources and allocation of federal public resources applied to natural disasters in the Brazilian state of Rio Grande do Sul in 2024. Theoretical Framework: Based on Public Choice Theory, the study investigates how self-interests can influence the allocation of public resources, which is relevant in the context of Brazilian public administration. Method: Using a descriptive and documentary approach, this qualitative research collected data from provisional measures and the Transparency Portal, analyzing the sources and amounts of funds quantitatively and their allocations qualitatively through the lens of Public Choice Theory. Results and Discussion: Most of the funds come from Official Credit Operations (41.80%) and Federal Financial Charges (13.97%). The allocation covers a range of areas from climate change mitigation to support for microenterprises. The diversity of allocations suggests an effort to meet multiple emerging needs and maximize political benefits, reflecting the influence of self-interests in public management. Research Implications: The study emphasizes the importance of transparency and accountability in public management, especially in disaster situations. By revealing how resources are allocated and identifying potential influences of self-interests, the research contributes to the formulation of more efficient and equitable public policies. Detailed understanding of the allocations can improve accountability and integrity in resource allocation, promoting governance practices that increase public trust in government actions. Originality/Value: Applying Public Choice Theory, this study offers insights into the efficiency and equity of resource allocation for natural disasters in Rio Grande do Sul, contributing to the literature on disaster management and public administration in Brazil.

El papel de los préstamos y del ICAS BE en el marco de colateral del Eurosistema en 2024

Rationale This article analyses the developments over the last 12 months in the share of non-marketable assets (essentially bank loans) pledged as collateral in the Eurosystem’s monetary policy credit operations, focusing in particular on the actual and potential contribution of the Banco de España’s in-house credit assessment system (ICAS BE). Takeaways •Over the last 12 months the share of non-marketable assets in the collateral pledged by Spanish counterparties in Eurosystem financing operations has increased once again, marking a continuation of the upward trend that began after the onset of the COVID-19 crisis. The proportion of non-marketable assets that are loans to firms rated using the ICAS BE has also risen. •Counterparties have ample scope to increase the volume of ICAS BE-rated pledged loans, especially in the case of loans to small and medium-sized enterprises. •After improving for two years, Spanish firms’ credit ratings assigned by the ICAS BE have deteriorated slightly compared with 2023, above all due to the increased interest burden firms are currently shouldering.

Perspectiva de melhor institucionalização do diálogo a partir da experiência do programa de saneamento da bacia da estrada nova (PROMABEN)

This article addresses the poor institutionalization of dialogue between the Municipality of Belém and the population affected by the first phase of PROMABEN in the Estrada Nova basin, seeking to propose mechanisms to strengthen dialogue in similar projects. The text begins with the observation that the legal acts institutionalizing public policy did not set up conditions for community participation. This deficiency resulted in an insufficient guarantee of the right to housing, limiting the potential benefits of community participation, and increasing the negative impacts of resettlement. Afterwards, the article discusses the need to overcome the traditional ideological basis of Brazilian administrative law, moving towards legal institutions and technologies that promote the democratic values and political pluralism of the 1988 Constitution. The article states that dialogue with the population must be a democratic principle, not just a bureaucratic procedure. In the end, the paper propose four measures as potentially improving the effectiveness of dialogue in projects like PROMABEN: establishment of permanent mechanisms for political participation in municipalities; integration of dialogue compliance analysis into credit operations; strengthening dialogue processes in environmental licensing and works bidding procedures; and implement project social compliance assessment mechanisms.

TRANSFORMATIONS OF THE RESOURCE MANAGEMENT STRATEGY OF UKRAINIAN BANKS

This article examines the peculiarities of the management of assets and liabilities of Ukrainian banks in the conditions of significant structural transformations of the resource base during the period of martial law. The analysis is carried out at the level of homogeneous structural and functional groups of banks (SFGBs), which are formed using published reporting data and the application of Kohonen's self-organizing map (SOM). Accumulation of statistical data has been carried out for 5 years, special attention is paid to structural changes in the resource base and directions of placement of bank assets over the past two years.Over the past two years, the bank has been under the influence of shock factors affecting assets and liabilities. At the beginning of 2022, there was an outflow of funds from bank accounts, which was gradually compensated by the inflow of current funds from corporations and the population of individuals. In 2023, the National Bank of Ukraine actively stimulated the development of the term resource base, the basis for ensuring the growth of credit operations. Transactions with state securities continue to grow in the structure of bank assets. The priority task of the banking system remains the financial support of business, but in the conditions of a full-scale war, such development of credit operations is limited. It is expedient to study the strategy of banks by combining the structure of assets and liabilities according to similar characteristics and analyzing the dynamics of groups. Observation of homogeneous groups confirms their stable nature, features of strategy, risk profile and development priorities. It has been proven that banks within homogeneous SFGBs demonstrate similar behaviour in the formation of management strategies and reactions to internal and external shocks. At the macro level, the SOM structure allows you to quantitatively assess the main processes taking place in the banking system, conduct comparisons with maps, and identify problems and priorities in the management of bank assets and liabilities. The SFGB method allows you to evaluate the trajectory of individual banks on the map and develop recommendations for improving the strategy of managing assets and liabilities.

Lending in the banking system under the conditions of marital state

The banking sector is one of the most important components of the financial sector. The development of the credit services market is one of the indicators of the economic development of any country. Thanks to credit operations provided by banks, legal entities and individuals can attract additional monetary resources for their needs. Due to the corona crisis, banks around the world suffered certain losses. In 2022, Ukraine faced new challenges due to a military invasion that caused an economic crisis. However, the banking system of Ukraine continues to operate efficiently despite the risks and crisis situation.
 The article examines the basis of the problem of bank lending. It was determined that with the increase in the volume of loans granted, the number of loans not returned by borrowers also increases, which in turn leads to a lack of monetary resources and, as a result, affects the level of interest rates on loans. It is indicated that one of the reasons for the increase in loan rates is the attraction of expensive resources. It is suggested that commercial banks of Ukraine control these risks, which will make it possible to ensure the quality of the credit portfolio. Also, a significant problem in the field of bank lending is defined as the lack of legal support for its implementation.

Features of the economic development of ancient Russian and German cities in the XII – first third of the XIII century

The subject of the study is the economic life of the city of Ancient Russia and the medieval city of Germany. The object of the study is an ancient Russian and Western European city in the XII – first third of the XIII centuries. For more than a century, the debate has been going on about whether Russia is following its own special path of development, different from the Western one, or whether our country is developing in the general direction of the world historical process, lagging behind Western European states for various reasons. The appeal to the economic problems of the city is due to the exceptional importance of the economic sphere of life, it determines the course of all processes taking place in society, affecting the other subsystems of society. For comparison, we have chosen one of the dominant political centers of Russia in the era of fragmentation – the Vladimir-Suzdal Principality and the cities of Germany, which are a classic example of a medieval city in Western Europe. The work used a comparative historical method that allows us to identify common and specific features of the development of the economic sphere of the urban centers of Ancient Russia and medieval Europe in order to reveal the versatility of the phenomenon of the ancient Russian city. The ancient Russian and medieval German city in the XII – first third of the XIII century had a deep connection with the nearby agricultural district and were agrarian in nature. Despite this, the most important direction of the economic development of the cities of Vladimir-Suzdal land and medieval Germany was their development as trade and craft centers. Merchant associations operate in both countries, and active trade and credit operations are carried out. Both cities were distinguished by the differentiation of the craft and its narrow specialization. The novelty of the study lies in the fact that a comparative analysis of the level of economic development of a significant number of ancient Russian and German medieval cities was carried out. As a result of the study, it was concluded that in German cities of the High Middle Ages, a special urban world was developing, characterized by strict regulation of almost all aspects of the life of citizens. The ancient Russian cities, on the contrary, did not develop a specific urban law that would operate only within the city walls.

BANKING SECTOR EFFORTS TO CONTAINMENT/ DAMAGE LIMITATION OF COVID-19 CRISIS AS A PREDICTIVE FACTOR IN THE ABILITY TO RECOVERY OF SMES IN JORDANIAN

Objective: The research aims to identify the efforts made by the banking sector to contain the damages caused by the COVID-19 in all its aspects (situation assessment and analysis, and crisis intervention) from the banking sector employees’ perspective. The research also aims to identify the role of the banking sector's efforts in containing the COVID-19 crisis damages on predicting the ability of Jordanian SMEs to recover their activity.
 
 Methodology: The research population consisted of two sub-populations; the first consists a cluster sample was taken from Jordanian banks branch managers, all employees in the risk departments, and employees responsible for credit operations in (Bank of Jordan and the Islamic International Arab Bank), The second subpopulation consists of all SMEs’ owners, 24,000 enterprises in the Northern, Central, and Southern regions of Jordan.
 
 Findings: The study found that there is a positive and statistically significant impact of the banking sector's efforts to contain COVID-19 crisis damage in its dimensions (efforts to assess and analyze the situation and efforts to intervene in the crisis) on the ability of SMEs to recover their activity. The results showed that SMEs suffer from an unprecedented shock and depression in the absence of financial assistance and facilities from the banking sector.
 
 Conclusion: The responses showed (73.33%) of project owners indicated that banks and lenders did not provide any credit facilities.

Income smoothing in Brazilian credit unions: the effects of default

Purpose: This research aims to analyze whether credit unions manage their accounting results in order to smooth them through the provision for doubtful accounts (income smoothing), from a default perspective.
 Methodology: The sample reaches 938 unique cooperatives considering the period from December 2010 to December 2018, with data from the Central Bank of Brazil, tested using the multiple regression statistical technique, in quarterly panels.
 Results: The variation in the stock of credit operations and the adjusted net income were not statistically significant in the model, however it was not possible to accept the hypothesis that credit unions use the allowance for loan losses (PCLD) as a mechanism for managing results. The interest rate implicit in the result of income from credit operations was significant, and therefore related to the PCLD variation, while the condition of free admission did not show statistical significance. The variation in default was significant in the model, with a negative coefficient, implying consistency with the earnings management hypothesis, since in a scenario of higher default (risk) the relationship is negative and, therefore, PCLD levels are lower, avoiding potential negative results.
 Contributions of the Study: The results indicate the absence of earnings management by PCLD in the sample and period, contributing to the discussion of the relationships between earnings management variables. This enables credit unions to reflect on their internal corporate governance structure. In addition, the evidence contributes to the progress of the literature on earnings manipulation in credit unions, for which there are few studies available and play an important role in the Brazilian market, ensuring funding flows to economic sectors not served by traditional banking institutions.

КОММЕРЦИЯЛЫҚ БАНКТЕРДІҢ НЕСИЕ ОПЕРАЦИЯЛАРЫН ЕСЕПКЕ АЛУ ЖҮЙЕСІН ЖЕТІЛДІРУ

Мақалада кредиттік операциялардың экономикалық мәні, оларды тиімді ұйымдастырудың теориялық аспектілері және банк қызметінің басты элементі және ұлттық экономиканың дамуы мен өрлеуінің маңызды факторы болып табылатын қазақстандық банктердің кредиттік қызметінің ерекшеліктері анықталды. Бұл мақалада Қазақстанның қаржы нарығының неғұрлым дамыған сегменті ретінде банктік несиелеудің отандық нарығын дамытудың заманауи тенденциялары қарастырылған. Мақалада коммерциялық банктердің қаржылық жағдайының тұрақтылығын нығайтуға және кредиттеу операцияларының тиімділігін арттыруға бағытталған Коммерциялық банктердегі кредиттеу операцияларын ұйымдастыру мен бухгалтерлік есепті жетілдіру жөніндегі теориялық-әдістемелік ережелер мен ұсыныстар талданады. Бұл мақалада ұйымдағы несиелер мен қарыздардың бухгалтерлік есебі қарастырылады. Мақалад ұйымның жеделдігі мен біртұтастығымен сипатталатын банктік қызметтегі бухгалтерлік есеп ерекшеліктері қарастырылады. Сонымен қатар мақалада тізбеге сәйкес кредиттік операциялардың есебін ұйымдастыру атап өтілген (коммерциялық банк шоттарының жұмыс жоспарында). Автор Қазақстанның коммерциялық банктеріндегі кредиттік қатынастарды басқару және бухгалтерлік есеп жүйесін дамытудың теориялық-әдіснамалық аспектілеріне терең талдау жүргізді. Авторлар сондай-ақ нарық талаптарына сәйкес банктердің қызметін реттеудің жаңа тетіктерін көрсетеді; жеке банктің де, жалпы ҚР қаржы нарығының жай-күйінің де қаржылық көрсеткіштерін жақсарту үшін екінші деңгейдегі банктердегі кредиттік операциялардың есебі бойынша ғылыми негізделген қорытындылар ұсынылған. Халықаралық қаржылық есептілік стандарттары бойынша жұмыс жағдайында коммерциялық банктердің кредиттік операциялары ұсынылды. The article reveals the economic essence of credit operations, theoretical aspects of their effective organization and features of credit activity of Kazakhstani banks, which are a key element of banking activity and an important factor in the development and growth of the national economy. This article examines the current trends in the development of the domestic bank lending market as the most developed segment of the financial market of Kazakhstan. This article examines the current trends in the development of the domestic bank lending market as the most developed segment of the financial market of Kazakhstan. The article analyzes theoretical and methodological provisions and recommendations for improving the organization and accounting of credit transactions in commercial banks, aimed at strengthening the stability of the financial position of commercial banks and improving the efficiency of lending operations. This article discusses the accounting of loans and borrowings in an organization. The article discusses the features of accounting in banking, characterized by the efficiency and cohesion of the organization. The article also notes the organization of accounting for credit transactions in accordance with the list (in terms of commercial bank accounts). The author has carried out an in-depth analysis of theoretical and methodological aspects of the development of the accounting system and credit management in commercial banks of Kazakhstan. The authors also point to new mechanisms for regulating the activities of banks in accordance with market requirements; to improve the financial performance of both an individual bank and the state of the financial market of the Republic of Kazakhstan as a whole, scientifically sound conclusions on accounting for credit transactions in second-tier banks are presented. The prospects for the development of credit operations of commercial banks in the conditions of work according to international financial reporting standards are presented.

Role of Microfinance and Self Help Groups in Rural Women Empowerment – A Study of Two Sub district under Mahisagar District, Gujarat

Being the most important program in the SHG movement in India, NABARD started the pilot phase of SHG Bank Linkage Program in February 1992. This was the first example of a viable SHG financed directly by a commercial bank. Informal saving and borrowing groups of the poor were recognized as bankable customers. Soon after the SHG-bank linkage was in place, RBI advised commercial banks to consider lending to SHGs as part of their rural credit operations. Linking SHGs with the financial sector was good for both sides. Because banks were able to enter the money lending market, borrowers were lower income families, household costs were lower, and repayment rates were higher. By joining SHGs they were able to expand their operations with more credit and they had productive surplus funds for more credit. (Reddy and Maneck, 2005). This research paper attempts to examine the impact of microfinance in the context of poverty alleviation and socio-economic empowerment of women. Help empower women through microfinance by supporting women's economic participation, thus promoting gender equality and improving household welfare. To study the role of microfinance and self-help groups (SHGs) in women empowerment, Santrampur and Virpur sub district of Mahisagar district have been selected, for the present study a total of 20 SHG organizations have been selected from these two sub district and Out of these 20 SHGs, 150 respondents have been selected for the research. has been selected to start the job. Here tabular analysis has been used to analyze the data collected from local survey reports.

A theoretical framework for modeling dual-track granting orientation in green credit policy

This study delves into the realm of green credit policy, a recognized solution for harmonizing financial growth with environmental progress. It highlights the pivotal role of credit-granting orientation in determining the effectiveness of green credit. Introducing a dual-track mechanism that combines industry and enterprise activity orientation, the study provides novel insights into green credit granting. Based on theoretical modeling and simulation analysis, the study explores how different granting orientations in green credit impact enterprise economic and environmental performance using stochastic dynamic programming. The results underscore that industry-oriented granting constrains eco-innovation capital investment and credit fund inflow, while activity-oriented granting leads to reduced carbon emissions and enhanced enterprise value. A dual-track green credit approach demonstrates a superior balance between the two orientations, delivering higher carbon emission reduction effects than industry-oriented granting and more sustainable impacts on enterprise value than activity-oriented granting. Ultimately, the study advocates for differentiating green credit into two orientation types and leveraging eco-innovation activities as credit allocation criteria to enhance the efficiency of green credit operations.

Prospects for improving the state regulation of foreign economic activities in Ukraine through the prism of ensuring the economic security of the state

The purpose of this article is to establish the directions of state regulation of foreign exchange, highlight the features of state regulation of foreign exchange, and determine the prospects for improving the mechanism of state regulation of foreign exchange in Ukraine. It has been determined that the ED is a complex complex type of activity that includes various objects and can be stratified into segments taking into account a number of criteria and features. At the same time, what is in demand is not the study of individual areas of regulation of foreign economic activity, but the analysis of their interaction. During the implementation of the FEZ, the achievement of the fundamental goal is significant - such activity should become a source of increasing national income and sustainable development of the economy. This has a perspective only in the course of solving tasks to achieve this goal, which is unattainable without a balanced and effective state administration. It has been proven that the State regulation of foreign trade includes a set of measures that have a legislative, executive and control nature, and are aimed at improving foreign trade in the interests of the country's economy. This system provides for the creation of the necessary conditions and mechanisms for the effective interaction of business entities within different states and at the international level. It has been established that the main directions of foreign economic activity are entrepreneurial activity, foreign trade, provision of various services, financial and credit operations, scientific and technical cooperation with foreign enterprises, etc. Regulation of these types of activities is carried out by the state through its bodies. Also, non-state subjects of economic management are involved in the regulation of foreign exchange, including: stock exchanges, chambers of commerce, associations, etc. The regulation of FEZ takes place together with FEZ subjects themselves on the basis of agreements concluded between them on the coordination of actions. It was emphasized that the essential components of the FED management mechanism are the systematic monitoring of the external and internal environment, the analysis and assessment of the state and development prospects of the FED, the development of tactical and strategic plans. It is legitimate to claim that the active digitization of the economy can provide advantages in the implementation of foreign trade in Ukraine.

Audit of Bank Lending Transactions Accounting when Applying International Standards

One of the most important areas of verification during auditing a bank is the audit of the funds placed in loans. The purpose of the audit is to confirm the accuracy of the information in the reports. The article deals with the problems of auditing the accounting of cash loan transactions. Taking into account that one of the objectives of the audit is to confirm the reliability of data in the accounts, the change in requirements for the formation of information on loans issued in the conditions of applying international accounting standards (IFRS) has predetermined the very need to expand and change accounting policies in this matter. It should set out how and when to determine and how often the fair value at which a loan should be measured should be reassessed. The transformation in the requirements for the formation of information in the accounting of loans issued by the bank, associated with the application of international accounting standards for financial instruments, predetermined the need to expand and change the accounting policy in terms of loans issued. In particular, the loan should be measured at fair value, therefore, the accounting policy should establish the procedure and methods for determining the fair value and the frequency of its revaluation. The procedure for recognizing and accounting for income and expenses related to credit transactions has changed. The article discusses methodological recommendations for the formation of an accounting audit program and accounting policy in relation to the bank’s credit operations in the light of the requirements of international standards. The purpose of this work was to form a methodology for auditing the accounting of credit transactions. As part of the study, the author proposed appropriate methodological recommendations that can be used in the development of accounting policy provisions, methods of internal control and audit of credit operations in conditions of modification of domestic accounting and application of international accounting standards, as well as in the training of specialists in accounting, internal control and audit. In the course of research, methods such as systematic analysis and logical generalization of legislative and regulatory documents, as well as special literature dealing with the audit of credit transactions were used. The proposed methodological recommendations for audit of credit operations can be used by auditors as well as by internal control and accounting service of the bank for analysis of accounting policy and its adjustment. The results of the research can be recommended for the development of accounting policy provisions, internal control methods and audit of credit transactions, in the conditions of modification of domestic accounting and the application of international reporting standards, as well as used for training specialists in accounting, internal control and audit.

El papel de los préstamos y del ICAS BE en el marco de colateral del Eurosistema en 2023

Rationale The share of non-marketable assets (mainly bank loans) pledged as collateral in the Eurosystem’s monetary policy credit operations has increased in recent years. The Banco de España’s corporate credit assessment system (ICAS BE) has contributed significantly to this development and may lead to these assets playing a greater role in the future. Takeaways •In the wake of the COVID-19 crisis there has been a considerable increase in the share of non-marketable assets in the collateral pledged by Spanish counterparties in Eurosystem financing operations. A significant proportion of these non-marketable assets are loans to firms rated using the Banco de España’s in-house rating system, called ICAS BE. •There is ample scope to increase the volume of pledged loans with an ICAS BE rating, especially in the case of loans to SMEs. •Spanish firms’ ICAS BE credit ratings have remained relatively stable in the past year, except in the sectors most affected by the COVID-19 pandemic, which have seen a notable improvement.

Кращі практики формування та функціонування венчурних структур

The formation of a national system of venture financing for many countries of the world is an objective necessity due to the specifics of their innovative economy and the urgent need to ensure the reproduction of national wealth on a high-tech basis. As research in the field of institutional theory and practice of venture financing shows, different national venture systems have their own institutional specificity, which is realized in the specification of national models of venture entrepreneurship, coordination of economic interests in the field of innovative activity, and sources of financing. Venture business, which ensures the inflow of private funds into small innovations of developing companies, and in exchange for high risks guarantees high profitability for investors, has proven the effectiveness of the venture investment institute in developed countries as one of the effective tools for implementing an innovative growth model. The goals of the article are the research of the best practices of the formation and functioning of venture structures and the study and formation of elementary characteristics of models of the formation and functioning of venture structures. During the development and formation of venture financing, the focus on short-term economic indicators contradicted the innovative orientation of production. Interest in risk financing grew for the following reasons: in a number of cases, investors received real income, which many times exceeded the possible income from traditional financial and credit operations; the specificity of financing objects (high-risk projects) supported effective functioning through special management methods aimed at reducing the risks of investment activity; the venture mechanism provided a practical opportunity to finance innovative ideas and projects at the initial stages of their implementation. The article examines and substantiates the best experience in the formation and operation of venture structures - two main models of venture financing - American and European. The main differences of the models were investigated on the basis of the formed elemental characteristics of the model of venture structures, which includes: the content of the concept of "direct investment" and venture financing"; methodology of venture financing statistics; the process of formation of venture structures; priority sectors of the economy for venture investment; distribution of venture capital investment by stages of development of innovative companies; amount of funds (venture capital); the role of the state in financing innovation processes; stages of venture financing; allocation of funds for specialized innovation projects, criteria for choosing a venture capital firm, form of a partner enterprise. A generalized description of venture investment market models is presented.

The Influence of intrapreneurship on accelerating digital transformation in a bank's credit operations center

Objective of the study: The objective of this study was to analyze how intrapreneurship accelerated the digital transformation in a credit operations center of a Brazilian bank, linked to an innovation laboratory in Silicon Valley. Methodology/approach: The research method was the in-depth case study and the data analysis technique was the content analysis. Main results: The original results indicated that intrapreneurship accelerated digital transformation through digitalization and digitization of processes, implementing and improving technological applications. Theoretical/methodological contributions: Leaders encouraged intrapreneurship by supporting creative ideas, using agile methodologies and digital innovation, and showing that rigidity in accepting failures and risks can be overcome. Relevance/originality: We conclude that intrapreneurship can accelerate incremental technological innovations, in products and processes, in order to promote digital transformation in the financial sector. Social/management contributions: We also conclude that digital transformation can significantly advance from the institutional incentive to intrapreneurship, acceptance of failures and risks, and creation of innovation poles connected to international technological networks. Future studies may investigate intrapreneurial solutions for the banking sector, based on open banking, artificial intelligence and blockchain.