THE NEW BASEL CAPITAL ACCORD AND SME FINANCING THE NEW BASEL CAPITAL ACCORD AND SME FINANCING SMES AND THE NEW RATING CULTURE

The Centre for European Policy Studies (CEPS) is an independent policy research institute in Brussels. Its mission is to produce sound policy research leading to constructive solutions to the challenges facing Europe. As a research institute, CEPS takes no position on matters of policy. The views expressed are entirely those of the author. Acknowledgments: The author would like to thank Els Desmet, Ortwin Volcke and Karel Lannoo for their constructive comments and suggestions along with all those who contributed to the finalisation of this report by responding to the CEPS survey on the Basel II Capital Accord and SME financing. CEPS gratefully acknowledges financial support for this study from CRION, a member of Aon Trade Credit. The report, however, is the responsibility of the author and any conclusions should not be attributed to CRION