2

Preliminary items:
This presentation is for discussion purposes only and does
not reflect the opinion of GE or the GE Capital Corporation
Key references include:
Longbrake , William A. and Rossi , Clifford V., (2011), Procyclical versus Countercyclical Policy
Effects on Financial Services, The Financial Services Roundtable [slides 4, 5 and conclusions]

Aguais, Scott, Forest, Lawrence R, J r., King, Martin, Lennon, Marie Claire, and Lordkipanidze,
(2008), Designing and Implementing a Basel II Compliant PIT-TTC Ratings Framework,
Barclays Capital [slides 20, 21 and conclusions]
This presentation contains research performed by members of the GE Capital
Risk Analytics & Reporting Team* and GE Global Research Center** including:
Andrew Barnes** Ming Li** Stefano Santilli*
Ruchi Bhariok* David Li** Sukyul Suh*
J errold Cline** Colin McCollough** J osh Terranova*
Frances Huang* Matthew McDonald*
Kete Long** Radu Neagu**