There are growing concerns about evaluating a financial system's capability to withstand risk in the wake of the financial crisis originally triggered by the U.S. subprime mortgage meltdown. In line with this, there have been many efforts at home and abroad such as estimating a model for the probability of default in a financial system and to measure and evaluate credit risk, which makes up a major part of the overall risk facing financial institutions. However, it is difficult to develop a sophisticated model in domestic research, since there has not been a sufficient accumulation of quality data, such as the default rates and borrowers' debt servicing capacity indicators essential for model estimation.

※ Please refer to the attached file.