The BaFin launched a consultation (to run until 1 January 2019) on its circular on the application of the default definition under Article 178 of the Capital Requirements Regulation (CRR) and on probability of default (PD) estimation, loss-given-default (LGD) estimation and treatment of defaulted exposures, which puts into German administrative practice, as of 1 January 2021, the EBA guidelines EBA/GL/2016/07 (with the exception of paragraphs 25 and 26) and EBA/GL/2017/16 respectively.

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