Collateral damage of reckless lending

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Collateral damage of reckless lending
 © CyprusMail 2020
Granting unproductive loans results in a systematic transfer of wealth from the many to the few

By Savvakis C Savvides

The word collateral is defined in the Merriam-Webster dictionary as “ property [..] pledged by a borrower to protect the interests of the lender ”.

The essence of collateral in lending is that it is to be used as a recourse for recovery by the banks in the event that the expected outcome for which financing was provided fails to materialise due to unforeseen events. A loan should not, therefore, be granted without a proper...


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This article was automatically added to our system 23-2-2020

Collateral damage of reckless lending


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Article Tags: collateral, damage, reckless, lending,