Abstract
Credit risk and the new Basel capital accord The new Basel capital accord implies a redefinition of prudential regulation, especially for credit risk. In this article, we show that Cooke ratio is unable to appreciate correctly credit risk profile of banking portfolio. By contrast, the future credit risk measure appears more reliable. In particular, IRB approach is a way to improve banks' credit risk perception and evolution. Convergence between economic capital and regulatory capital can be obtained. Nevertheless, IRB approach is deficient. So, prudential regulation efficiency, banking system and economic stability are questioned. JEL classifications : D82, C2, C28, L51
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