Banks’ management of credit risk should help them withstand shocks, says S&P

The global banking industry is generally strong and able to deal with sudden shocks because of its improved risk management, according to research by rating agency Standard & Poor’s.

Introducing the agency’s new banking industry country risk assessments, Standard and Poor’s analysts Scott Bugie, John Chambers and Ryan Tsang write: “The global financial system is in rude health in 2006… risk charges for loan losses are low, profits are high and business flows robust.”

Although developed economies

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