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Krahnen, Jan Pieter
Weber, Martin
Year of Publication: 
Series/Report no.: 
CFS Working Paper 2000/02
Bank internal ratings of corporate clients are intended to quantify the expected likelihood of future borrower defaults. This paper develops a comprehensive framework for evaluating the quality of standard rating systems. We suggest a number of principles that ought to be met by 'good rating practice'. These 'generally accepted rating principles' are potentially relevant for the improvement of existing rating systems. They are also relevant for the development of certification standards for internal rating systems, as currently discussed in a consultative paper issued by the Bank for International Settlement in Basle, entitled 'A new capital adequacy framework'. We would very much appreciate any comments by readers that help to develop these rating standards further.
corporate rating
credit risk management
capital adequacy
banking supervision
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Document Type: 
Working Paper

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