A robust corporate credit analysis (CCA) framework is essential for the risk management of institutions that extend credit to firms or that accept corporate loans as collateral in refinancing operations—such as central banks. This Chapter reviews the key themes of the book, including the current challenges for CCA, involving new risk sources, such as climate change and cybersecurity, and the use of AI. The Chapter presents an overview of the in-house credit assessment system (ICAS) in operation at the Bank of Italy, along with its outputs and performance. The best practices and performance of the rating systems of commercial banks are compared with those of ICAS. Finally, the Chapter reviews recent research on AI applications for emerging sources of corporate credit risk. After a period of calibration and testing, this research may guide future developments of ICAS.

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Corporate Credit Analysis and AI Applications: An Overview

  • Antonio Scalia

摘要

A robust corporate credit analysis (CCA) framework is essential for the risk management of institutions that extend credit to firms or that accept corporate loans as collateral in refinancing operations—such as central banks. This Chapter reviews the key themes of the book, including the current challenges for CCA, involving new risk sources, such as climate change and cybersecurity, and the use of AI. The Chapter presents an overview of the in-house credit assessment system (ICAS) in operation at the Bank of Italy, along with its outputs and performance. The best practices and performance of the rating systems of commercial banks are compared with those of ICAS. Finally, the Chapter reviews recent research on AI applications for emerging sources of corporate credit risk. After a period of calibration and testing, this research may guide future developments of ICAS.