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Covenant as an instrument of financial risk management

Author

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  • Kondratjev, Alexey

    (Russian Presidential Academy of National Economy and Public Administration)

Abstract

The problems of application of covenants in Russia, showing the direction of improving their use: to recognize covenants legitimate financial tool in the federal legislation, supplemented by regulations order of their legal regulation, delegate the conduct of all of its financial covenants audit companies, enter into the business turnover of the position of the owner of the bonds authorized to demand early the repayment or redemption of any breach of the covenant, to recommend the commercial banks to monitor the financial covenants under the credit risk assessment, and develop regulations for their application.

Suggested Citation

  • Kondratjev, Alexey, 2015. "Covenant as an instrument of financial risk management," Published Papers knrpc2, Russian Presidential Academy of National Economy and Public Administration.
    • Handle: RePEc:rnp:ppaper:knrpc2
    Note: Published in "Local government in system of public authorities", Saratov, 2015
    as

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    File URL: https://repec.ranepa.ru/rnp/ppaper/knrpc2.pdf
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    Keywords

    covenant; risk-management; debt; credit risk;
    All these keywords.

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