2000
Edward Altman, and Anthony Saunders
The authors are the Max L. Heine and John M. Schiff Professors of Finance, Stern School of Business,
NYU. This is an updated and revised paper from the authors’ report on “An Analysis and Critique of the BIS Proposal
on Capital Adequacy and Ratings,” (submitted to the BIS and published in the Journal of Banking & Finance,
Vol. 25, #1, January, 2001). The authors wish to thank Sreedar Bharath for his computational assistance and Robyn
Vanterpool of the NYU Salomon Center for her coordination.
This paper was first prepared for the NYU Salomon Center/University of Maryland research project
on “The Role of Credit Reporting Systems in the International Economy,” sponsored by the Center for International
Political Economy. It was prepared for the project’s conference in Washington D.C. on March 1-2, 2001 at the headquarters
of the World Bank.
Edward I. Altman
Institution: Stern School of Business, New York University
Email: ealtman@stern.nyu.edu
Telephone: (212) 998-0709
Anthony Saunders
Institution: Stern School of Business, New York University
Email: asaunder@stern.nyu.edu
Telephone: (212) 998-0711
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