PRESS RELEASE – 15 August 2018


New Head for GCD


Global Credit Data has appointed Richard Crecel from Société Générale as its new Executive Director from September 2018, following retirement of Philip Winckle

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)

GCD has a strong position in the United States with the largest US banks being a long-term member and delivering data to GCD’s databases.

Last month, Goldman Sachs joined as member and is now starting up the onboarding process.

The multinational investment bank and financial services company will further contribute to the global coverage of GCD’s data. 

GCD LGD Report Large Corporates

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.


In Q4/2017, Global Credit Data conducted a benchmarking study that found significant variation in the credit loss estimates of the 19 participating IFRS 9 banks—all of which used a well-defined hypothetical portfolio and a common scenario to calculate their expected credit losses (ECL).

GCD welcomes Deutsche Pfandbriefbank as our newest member. Deutsche Pfandbriefbank (pbb) is a German specialist bank for real estate financing and public investment finance. In addition to Germany, the main business focus is on Great Britain, France, Spain, the nordic countries and countries in Central and Eastern Europe. 

On February 8th, 2018, ICC has published the ICC Trade Register report 2017, which presents a global view of the credit risk profile of trade and export finance transactions.

In December 2017 the BCBS made their final decision on what they call the “Finalisation of Basel III” and what the industry has called “Basel IV”. 

The reforms tighten the rules, aiming to reduce variation in RWAs across banks and are aimed to be in force from 2022, although they do require governments (EU, US etc.) to write them into their own laws, which may see further changes made.



The package of changes includes:

GCD has returned the results of the IFRS 9 benchmarking study to 19 member banks. 

In December 2017, banks have received back their detailed data return on the IFRS 9 Benchmarking study. 

The IFRS 9 Benchmarking study has given participants a unique opportunity to benchmark their ECL for a specific set of hypothetical borrowers. As usual, GCD returns the full, anonymized dataset to allow member banks to make their own analysis and deep-dive into the results.