摘要：When banks' overall risk is evaluated, their credit risk exposure to the enterprise sector is a key element. Inanalyses of banks' credit risk in the enterprise sector, both a macroeconomic and a business economicsapproach are generally applied, the latter based on corporate earnings, liquidity and financial strength. Inthis article, we present a new model that predicts enterprise-specific bankruptcy probabilities. On the basis ofthese probabilities, both aggregate bankruptcy probabilities and the magnitude of accompanying losses forbanks can be estimated
