Abstract
The infinite-$U$ single impurity Anderson model for rare earth alloys is examined with a new set of self-consistent coupled integral equations, which can be embedded in the large $N$ expansion scheme ($N$ is the local spin degeneracy). The finite temperature impurity density of states (DOS) and the spin-fluctuation spectra are calculated exactly up to the order $O(1/N^2)$. The presented conserving approximation goes well beyond the $1/N$-approximation ({\em NCA}) and maintains local Fermi-liquid properties down to very low temperatures. The position of the low lying Abrikosov-Suhl resonance (ASR) in the impurity DOS is in accordance with Friedel's sum rule. For $N=2$ its shift toward the chemical potential, compared to the {\em NCA}, can be traced back to the influence of the vertex corrections. The width and height of the ASR is governed by the universal low temperature energy scale $T_K$. Temperature and degeneracy $N$-dependence of the static magnetic susceptibility is found in excellent agreement with the Bethe-Ansatz results. Threshold exponents of the local propagators are discussed. Resonant level regime ($N=1$) and intermediate valence regime ($|\epsilon_f| <\Delta$) of the model are thoroughly investigated as a critical test of the quality of the approximation. Some applications to the Anderson lattice model are pointed out.

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