Loan – for the construction, – for the redesign (rebuilding, renovation) or – for the repair (reworking, repair; renovation, repair) of a watercraft. Traditionally, this type of lending is handled by certain institutions that have a great deal of experience in this line of business. However, these institutions are also particularly vulnerable to risk. They are therefore monitored by the supervisory authorities in special stress tests. – See Beilbrief, Bodmerei, Denaro, object financing, project financing, ship mortgage bond. – Cf. Financial Stability Report 2013, p. 63 (stock of ship finance receivables at some institutions at a worryingly high level), BaFin Annual Report 2013, p. 88 f. (BaFin pays particular attention to banks’ ship portfolios; high risk content identified; overview).
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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
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