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The guidelines on Rating Models<br />
and Validation and on techniques of<br />
credit risk management 10 support<br />
banks in the process of obtaining<br />
authorization to use the more risksensitive<br />
advanced approaches to regulatory<br />
capital requirements under<br />
Basel II. The guidelines Best Practices<br />
in Risk Management of Securitized<br />
Products and Credit Approval Process<br />
and Risk Management describe cur-<br />
rent problems in the field and outline<br />
possible solutions. These guidelines<br />
pool ideas for the future design of<br />
credit risk management. Given the<br />
proportions of Austrian enterprisesÕ<br />
and banksÕ activities in the CEECs,<br />
six additional guidelines focus on<br />
the legal framework of the banking<br />
sector in Croatia, the Czech Republic,<br />
Hungary, Poland, Slovakia and<br />
Slovenia.<br />
10 The guideline on techniques of credit risk management is currently available in German only.<br />
The OeNB as a Competent Partner in<br />
Ensuring Financial Stability<br />
<strong>Annual</strong> <strong>Report</strong> <strong>2004</strong> ×<br />
47