Credit Risk. KMV-Approach

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The paper examines the implementation of the European directives on minimum capital requirements in German legislation as of January 1, 2007. It highlights the evolution of the Basel Accords, beginning with Basel I in 1988, and emphasizes the objective of aligning banks' capital requirements with actual economic risks. This alignment aims to enhance the security and stability of the financial system, reflecting an ongoing commitment by the Basel Committee on Banking Supervision to adapt regulatory frameworks in response to changing financial landscapes.