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    2021-04-30

CHAPTER 3 Benchmark and related references

Article 14 Benchmark

The benchmark referred to in point (c) of Article 136(2) of Regulation (EU) No 575/2013, shall be distinguished in:

  1. (a)

    a long-run default rate benchmark for each credit quality step as set out in Table 1 of Annex I;

  2. (b)

    a short-run default rate benchmark for each credit quality step as set out in Table 2 of Annex I.