  A novel large-N limit of the multichannel Kondo model is introduced, for
representations of the impurity spin described by Schwinger bosons. Three cases
are found, associated with underscreening, overscreening and exact Kondo
screening of the impurity. The saddle-point equations derived in this limit are
reminiscent of the ``non-crossing approximation'', but preserve the
Fermi-liquid nature of the model in the exactly screened case. Several physical
quantities are computed, both numerically, and analytically in the low-\omega,T
limit, and compared to other approaches.
