paper credit
4.Based on the analysis of by - stage demand function of commercial acceptance bill, the paper proves that commercial credit evaluation model and its innovation are the essential factors for the development of commercial bill market,and it is important to implement the principle of separating banking credit and commercial credit for the sustainable development of commercial bill market.
10.The paper begins with a summary of credit risk measurement models and evaluation methods based on the survey of the key conceptions about financial risk and credit risk measurement, and analyzes the principles of credit risk, then discusses the classical modeling paradigms involving structural models including Merton and first-passage-time models and reduced form approaches, and then summarizes some results about rating transitions and LGD(Loss Given Default).

