A forward view

Outside the financial services sector, companies' thinking with regards to credit risk has largely failed to keep pace with growing market risk management sophistication. But things are starting to change. Navroz Patel reports

A surprising anecdote was recounted by John Dugan, US Comptroller of the Currency, at a speech before the International Bankers' Association in Washington, DC, in March. The gist of the tale was that, at a recent credit risk modelling workshop hosted by the Office of the Comptroller of the Currency (OCC), which covered topics such as Basel II, staff were surprised to discover that a number of the