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Digest Finance
 

Principal risks inherent in building the resource base of project finance in bank risk management

Vol. 28, Iss. 2, JUNE 2023

PDF  Article PDF Version

Received: 28 May 2018

Received in revised form: 19 July 2018

Accepted: 22 November 2018

Available online: 29 June 2023

Subject Heading: RISK, ANALYSIS AND EVALUATION

JEL Classification: D81, E44, G17, G21, G32

Pages: 147–161

https://doi.org/10.24891/ea.18.1.151

Gul'mira S. BEKTENOVA Plekhanov Russian University of Economics (PRUE), Moscow, Russian Federation
Gulmira2002@mail.ru

https://orcid.org/0000-0002-8783-0060

Subject. The study investigates the risk associated with resource base formation of project finance in bank risk management.
Objectives. The purpose is to create a structure of risks affecting the formation of a resource base of project financing, which is estimated by the bank risk management; to unveil forms of risk manifestation in the bank capital market; to determine the influence of these risks on the cost of bank capital.
Methods. The study draws on the analysis of trends in the interbank interest rates, structure and volume of loans and deposits, transactions turnover in the interbank market, market interest rates.
Results. I designate a group of underlying risks to be assessed when making investment decisions, classify them by the form of risk manifestation, identify their influence on the project finance market, and show the effect from risk tolerance or aversion. The findings enable to assess actual risks associated with the formation of the bank's resource base. They also may be applied in practical work of bank risk management to estimate potential resources of project finance under economic volatility.
Conclusions. For each source of financing, it is necessary to assess all risks, considering their form and impact on the project finance market. The qualitative assessment of identified risks helps predict the effect from project implementation. The sources of building a resource base of project financing depend on the current state of and expectations in the credit market.

Keywords: risk, effect, investment, credit, interest rate

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