GCD Bulletin August 2020

Newsletter of the Global Credit Data Consortium

 

Save the date: North American Conference returns on September 9th – 10th

Calling all members! The annual North American Conference is back this September – this time in a new all-digital format. This virtual set-up means that, for the first time, the event is available to members from anywhere in the world. This is your chance to come together with peers from across the credit risk industry to discuss the big issues teams are facing, from COVID-19 adjustments to CECL implementation.

This year, we welcome several prominent guest speakers, including Hal Schroeder (FASB), who will be discussing the future of CECL.   

Further details will be released shortly, but for now, save the date: Wednesday 9th – Thursday 10th September.

Keep an eye on this page for further updates.

 

 

Take part in the GCD 2020 survey: Rating in the New Normal

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Uncertainty abounds for banks as the impact of the COVID-19 pandemic begins to set in. From current default rates and loss rates through to the right means of modelling and predicting these risks, little is fully clear.

However, it is critical to establish a practical approach. To this end, Global Credit Data is launching a new survey – “Rating in the New Normal” – to spark critical thinking and conversations within bank wholesale model development teams.

At the same time, the results will offer a unique insight into how different organisations are set up, how they model risks and how they are adjusting to account for the Covid-19 pandemic.

In exchange for your participation, you will receive the full anonymised results, providing critical context and insight to inform your thinking and discussions.

The survey should take around 30 minutes to complete. Click here to take part.

 

 

Explore our Recovery Rates Dashboards for corporate, bank and sovereign defaults!

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Those looking to assess the impact of COVID-19 on their models should take a look at GCD’s new Recovery Rates Dashboards. These dashboards provide instant insight into observed recovery levels and other key benchmarks for various exposure classes, industry sectors and collateral types.

The dashboards are based on GCD’s rich LGD data set, which is collected from over 50 member banks in a structured uniform way, fully covering the workouts from previous downturns, including the global financial crisis.

This data, therefore, offers usable insights that can serve as a basis for anticipating and accounting for the effects of the ongoing pandemic.

Download your copy of the dashboards here.

 

 

COVID-19 Crisis Benchmarking continues

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How are PDs and LGDs for corporate exposures evolving as the crisis unfurls? The COVID-19 Crisis Benchmarking exercise pools data from participating banks to offer updates on PD and LGD estimates across a large range of corporate borrowers.

Offered on a confidential and anonymised basis, this data enables you to compare your estimates directly with those of your peers and to ensure you can spot and understand how critical industries and obligors are responding to the pandemic ahead of the game.

More information is available here.

To take part, please contact Hale Tatar (hale.tatar@globalcreditdata.org).

*Submission date for May data: Wednesday 19th August

The next round of data collection will start in September!

 

 

GCD welcomes a new Executive

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GCD is pleased to announce a new member of its Executive team. Izelle Kirsten joins the organisation as a Methodology and Member Executive, based in Toronto, Canada. She is responsible for supporting our member banks across Africa, Australia, the Netherlands, Switzerland and the UK.

Izelle brings a wealth of experience from her previous roles. These include spells as a financial risk consultant at PwC and, most recently, as a manager in the Wholesale Credit Risk and Model Development team at Absa Group in South Africa.

Feel free to get in touch with her (izelle.kirsten@globalcreditdata.org) and join us in welcoming her to the team!

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Thank you!

GCD has seen a significant increase in data returns for H1 2020. During the period, data submission volumes have surged by 20%, demonstrating the value of data in difficult times. GCD would like to thank its members for their active engagement and continuous efforts to help grow the database.

 

 

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