Mohammad (Nazmul) Hasan
Mohammad Nazmul Hasan is a Lead Expert in the Credit Risk Analysis Division of the Office of the Comptroller of the Currency (OCC). He provides technical support for examinations of national banks on various areas of model risk management and credit risk modeling, including models for projecting credit losses for the determination of allowance and capital that ensures safety and soundness of the national banking system. He is also one of the primary authors of Sound Practices for Model Risk Management (OCC Bulletin 2011–12) that provides a framework for assessing model risk.
Prior to joining the OCC in 2002 as a senior financial economist, Dr. Hasan worked as an econometrician at American Express (1999–2002) and as an assistant professor at Illinois State University (1993–1999). He has published his research in peer-reviewed journals. His current research interest includes applied issues in credit risk measurement, corporate and consumer finance. Dr. Hasan earned a Master’s in Statistics and a PhD in Economics in 1993 from the University of Illinois at Urbana Champaign.
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This paper considers whether the rating agency attempts to mitigate the feedback effect through its rating actions. Using Moody’s issuer ratings over 1982–2009, the paper shows that firms with greater external financing constraints are less likely to be…