# kaal:claim:2998097-005

**Claim.** Post LTCM proposals for clearer credit risk strategies and credit risk management policies at financial intermediaries were inappropriately applied across the whole range of business models and lacked concrete implementation elements.

**Type.** failure  **Support.** argued

**Holds when.**

- post LTCM regulatory proposals
- author's critique beginning in 2005

**Source quote.**

> He found that proposals involving clearer credit risk strategies and credit risk management policies and processes for financial intermediaries were inappropriately applied across the range of business models and lacked concrete implementation elements.

**From.** Wulf A. Kaal, *Private Investment Fund Regulation - Theory and Empirical Evidence from 1998 to 2016* (2017), III.1 Critique of Regulatory Proposals, page 12

**Cite as.** Wulf A. Kaal, Private Investment Fund Regulation - Theory and Empirical Evidence from 1998 to 2016 (2017). SSRN: https://ssrn.com/abstract=2998097

**Verify.** sha256 of source PDF `0955054f49c7011d33c285579bb046e6b284e42755b10fd2546a728c202669d5` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202017%20-%20Private%20Investment%20Fund%20Regulation%20-%20Theory%20and%20Empirical%20Evidence%20from%201998%20to%202016.pdf

**Failure mode.** One size fits all credit risk policy prescriptions  (family: harmonization-and-standardization-failure)

**Topics.** risk-and-incentives

**Keywords.** credit-risk-management, regulatory-proposals, implementation-gap, post-ltcm-reform

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