Holistic Active Management of Non-Performing Loans
This book discusses the most critical issues relating to the recovery of bad loans – a major problem that European banks urgently need to address and resolve. The book describes, in an innovative but also pragmatic way, the new approaches, techniques, and
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Holistic Active Management of Non-Performing Loans
Holistic Active Management of Non-Performing Loans
Claudio Scardovi
Holistic Active Management of Non-Performing Loans
123
Claudio Scardovi AlixPartners London UK
ISBN 978-3-319-25362-6 DOI 10.1007/978-3-319-25363-3
ISBN 978-3-319-25363-3
(eBook)
Library of Congress Control Number: 2015954354 Springer Cham Heidelberg New York Dordrecht London © Springer International Publishing Switzerland 2016 This work is subject to copyright. All rights are reserved by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, express or implied, with respect to the material contained herein or for any errors or omissions that may have been made. Printed on acid-free paper Springer International Publishing AG Switzerland is part of Springer Science+Business Media (www.springer.com)
Acknowledgments
Special thanks to Dina Siena, Valentina Proverbio, Paolo Pucino and Giuseppe Farinacci for their continued support and help in the development of this book.
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Contents
1
Work-Out: Holistic Active Management of NPL . . . . . . . . . . . . . . 1.1 Introduction. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.2 An Overview of the Book . . . . . . . . . . . . . . . . . . . . . . . . . . .
2
The Bad Bank and the Good Banking. . . . . . . . . . 2.1 What NPL Really Means . . . . . . . . . . . . . . . 2.2 Perception, Deception . . . . . . . . . . . . . . . . . . 2.3 NPLs: A Booming Market. . . . . . . . . . . . . . . 2.4 NPLs: A Macro and Micro Perspective . . . . . . 2.5 NPLs: The Lake and the River. . . . . . . . . . . . 2.6 Ways Back from Hell . . . . . . . . . . . . . . . . . . 2.7 The “Bad Bank” Approach . . . . . . . . . . . . . . 2.8 Systemic Bad Banks: The NAMA and SAREB
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3
The Work-Out Value Chain: Permutations and Clusters . . . . . 3.1 The “Traditional” Credit Lifecycle . . . . . . . . . . . . . . . . . . 3.1.1 Credit Origination . . . . . . . . . . . . . . . . . . . . . . . 3.1.2 Credit Management . . . . . . . . . . . . . . . . . . . . . . 3.1.3 Credit Management, Collection and Recovery
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