Over the past two decades the banking industry has undergone profound changes; these have affected not only the performance of banks themselves, but also the overall structure of the relationships that constitute their organization and allow them to exist and do business. In this perspective, it...

This paper investigates the accuracy of internal rating based (IRB) models in measuring credit risk. We contribute to the growing debate on the current prudential regulatory framework by investigating the use of validated IRB models in promoting efficient risk management practises. Our empirical...