Evaluating default correlations and the probabilities of multiple defaults is an important task in credit analysis and …

Estimates of average default probabilities for borrowers assigned to each of a financial institution's internal credit … risk rating grades are crucial inputs to portfolio credit risk models. Such models are increasingly used in setting …

credit risk measurement and management. Previous regulations have been simpler in structure, with a primary goal of getting … presents evidence that explicit treatment in new regulations of several important dimensions of credit risk is necessary to …

debt crisis, and we attempt to gauge the extent to which they would have received greater benefits if policies that improve …

spending. In this paper, I summarize some of the relevant facts concerning the growth of consumer credit and the household debt …Household debt is at a record high relative to disposable income. Some analysts are concerned that this unprecedented … level of debt might pose a risk to the financial health of American households and ultimately lead them to curtail their …