70. For the purpose of calculating the one-year default rate defined in point (78) of Article 4(1) …

For the purpose of calculating the one-year default rate defined in point (78) of Article 4(1) of Regulation (EU) No 575/2013, institutions should ensure the completeness of the quantitative and qualitative data and other information in relation to the denominator and numerator as outlined in paragraphs 73 and 74 and used for the calculation of the observed average default rate. In particular, institutions should ensure that at least the following data for the relevant observation period referred to in paragraphs 82 to 83 is properly stored and available:

• (a) the criteria for identifying the relevant type of exposures covered by the PD model under consideration;
• (b) the criteria for identifying the calibration segments;
• (c) the risk drivers used for risk differentiation; where a newly relevant risk driver has been included in the model for which no historical data is available institutions should, make efforts to minimise missing data on risk drivers over time as outlined in paragraph 51(a), and apply an appropriate adjustment and a MoC in accordance with section 4.4;
• (d) all identification numbers of obligors and exposures relevant for default rate calculation, taking into account situations where the identification number has changed over time, including changes due to restructuring of exposures.

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1.1 Tagairtí

• Airteagal 4 1.

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2. Ceanglais aitheanta

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