GCD is currently concluding a yellow page agreement with various consultant firms who have been working with GCD in the past and are knowledgeable about GCD's data model and/activities. For our members, this will lead to more dedicated studies, focus and working groups. And our newly created Yellow Page section on our website will ease the contact between those partners and the banks.
The year 2019 will be a busy one for all US Banks. With banks, standardsetters and regulators still engaged in a debate about what implementation of the CECL standard for Day 1, there are only 11 month left before public firms “go live” on CECL. The principle-based nature of the standard means that the remaining time needs to be spent on testing assumptions and validating approaches. For many banks, attention is on finalizing implementation plans and to kick-start the parallel run.
GCD is growing further and is seeking as of now a new North American Executive (based in North America) and a new Operations Executive (based in Europe).
The long-term agreement will strengthen the breadth and analysis of the ICC Trade Register, the banking industry’s leading data source for risks in global trade and export finance
Global Credit Data will oversee the collection of banks’ credit-related data, with the next Trade Register report produced by ICC and the Boston Consulting Group to be released in early 2019
Global Credit Data has appointed Richard Crecel from Société Générale as its new Executive Director from September 2018, following retirement of Philip Winckle
SAVE THE DATE: The next North American Conference is hosted by Citibank on September 24 & 25 in New York City.
More details on the agenda will be available in the coming weeks on our website. CECL and the CECL work of GCD (survey plus benchmarking study) will be on the agenda. Please contact any of the GCD Executives if you would like to present during plenary or break-out sessions.
GCD will be working with Accenture and the IIF to help U.S. financial institutions benchmark their CECL models as they are developed. For this purpose, GCD has rolled out a deep methodological survey, providing banks the opportunity to benchmark their methods. We plan to follow the survey with a benchmarking exercise to commence in the early fall. More information can be found here:
With more than 170 people, GCD's European Conference has once again outreached its goals. We shared knowledge, exchanged ideas and got insights in the latest developments on credit risk management.
For those members who could not join: save the date for the next conference in New York on September 24th/25th, 2018.
Click here for more impressions of our GCD conference in Stockholm on June 11/12, 2018 (login for members required)
First ever report of extensive analytics on LGD data highlights high recovery rate for banks on defaulted debt from large corporate borrowers
Global Credit Data has released its LGD Report 2018 – the first ever examining the Loss Given Default (LGD) for banks lending to corporate borrowers with a turnover of more than €50m. The report finds that banks, on average, recover 75% of debts owed by large corporate borrowers after default and confirms the hitherto untested principle that seniority and collateral drive low rates of LGD.
