Moody’s says collateral assets registry is credit positive to Egypt’s banks

Moody’s says collateral assets registry is credit positive to Egypt’s banks: Ratings agency Moody’s praised on Thursday the recently launched movable collateral assets registry, saying that the ove will help banks reduce their credit risk, particularly for loans to SMEs. Moody’s said (paywall) that this registry is credit positive for banks, noting that it will inform credit decisions and improve bank’s ability to secure collaterals such as a borrower’s machinery, inventory, patents and crops, among other assets. “The registry will allow banks to check whether pledges of movable assets are already pledged elsewhere, and will allow banks to establish the priority of creditors against third parties, diminishing their credit risk,” Moody’s added.