Risk architecture must alter: improved procedures for measuring, controlling and managing credit risk are needed to comply with the requirements of the impending Basel Capital Accord. (Technology).(banks must alter credit risk management procedures)

From: The Banker | Date: January 1, 2003| Author: | Copyright information

Today's turbulent financial markets have led to a dramatic increase in credit risk. In 2001 alone, the global rate of corporate defaults hit a record high of $135bn, according to US-based rating agency Moody's. With an estimated $30,000bn in total exposures worldwide, improved procedures for measuring, pricing and managing credit risk are no longer an option, they are an absolute necessity. The impending requirements of the Basel Capital Accord make the ability to proactively manage market and credit risk a priority.

The three-pillar approach of the Basel II accord aims to ...

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