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Rating Models & Guidelines

Rating Models & Guidelines

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Published by Danish Khidir

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Published by: Danish Khidir on Jun 19, 2012
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Guidelines on Credit Risk Management
Rating Modelsand Validation
These guidelines were prepared by the Oesterreichische Nationalbank (OeNB)in cooperation with the Financial Market Authority (FMA)
Published by:
Oesterreichische Nationalbank (OeNB)Otto Wagner Platz 3, 1090 Vienna, Austria Austrian Financial Market Authority (FMA)Praterstrasse 23, 1020 Vienna, Austria
Produced by:
Oesterreichische Nationalbank
Editor in chief:
Gu‹ nther Thonabauer, Secretariat of the Governing Board and Public Relations (OeNB)Barbara No‹ sslinger, Staff Department for Executive Board Affairs and Public Relations (FMA)
Editorial processing:
Doris Datschetzky, Yi-Der Kuo, Alexander Tscherteu, (all OeNB)Thomas Hudetz, Ursula Hauser-Rethaller (all FMA)
Peter Buchegger, Secretariat of the Governing Board and Public Relations (OeNB)
Typesetting, printing, and production:
OeNB Printing Office
Published and produced at:
Otto Wagner Platz 3, 1090 Vienna, Austria
Oesterreichische NationalbankSecretariat of the Governing Board and Public RelationsOtto Wagner Platz 3, 1090 Vienna, AustriaPostal address: PO Box 61, 1011 Vienna, AustriaPhone: (+43-1) 40 420-6666Fax: (+43-1) 404 20-6696
Oesterreichische NationalbankDocumentation Management and Communication SystemsOtto Wagner Platz 3, 1090 Vienna, AustriaPostal address: PO Box 61, 1011 Vienna, AustriaPhone: (+43-1) 404 20-2345Fax: (+43-1) 404 20-2398
Salzer Demeter, 100% woodpulp paper, bleached without chlorine, acid-free, without optical whiteners
DVR 0031577 
The ongoing development of contemporary risk management methods and theincreased use of innovative financial products such as securitization and creditderivatives have brought about substantial changes in the business environmentfaced by credit institutions today. Especially in the field of lending, thesechanges and innovations are now forcing banks to adapt their in-house softwaresystems and the relevant business processes to meet these new requirements.The
OeNB Guidelines on Credit Risk Management
are intended toassist practitioners in redesigning a bankÕs systems and processes in the courseof implementing the Basel II framework.Throughout 2004 and 2005, OeNB guidelines will appear on the subjects of securitization, rating and validation, credit approval processes and management,as well as credit risk mitigation techniques. The content of these guidelines isbased on current international developments in the banking field and is meantto provide readers with best practices which banks would be well advised toimplement regardless of the emergence of new regulatory capital requirements.The purpose of these publications is to develop mutual understandingbetween regulatory authorities and banks with regard to the upcoming changesin banking. In this context, the Oesterreichische Nationalbank (OeNB), Aus-triaÕs central bank, and the Austrian Financial Market Authority (FMA) seethemselves as partners to AustriaÕs credit industry.It is our sincere hope that the OeNB Guidelines on Credit Risk Managementprovide interesting reading as well as a basis for efficient discussions of the cur-rent changes in Austrian banking.Vienna, November 2004Univ.Doz.Mag.Dr.Josef ChristlMember of the Governing Boardof the Oesterreichische NationalbankDr.Kurt Pribil,Dr. Heinrich TraumullerFMA Executive Board
Guidelines on Credit Risk Management 3

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