News

We are pleased to welcome 2 new member-banks:

RABOBANK International

NATIONAL BANK OF CANADA

The Management Board invites all members to the next general meeting on 30 June and 1July in Paris. Day 1 will be devoted to the developments and progress of the association and its database. Day 2 will be for analytics, with a particular focus on the “Down-turn LGD”.

The Methodology Committee welcomes 2 persons just appointed by the Board:
Henry EDWARDS is Head of Wholesale Credit Risk Models at STANDARD BANK of South Africa,
Lars AAGAARD is Senior Analyst Credit Risk Management at DANSKE BANK of Denmark.

 

The General Meeting of Members, in Copenhagen, has elected Philip WINCKLE Chairman of the Board of PECDC. Previously Chairman of the Methodology Committee, then Vice-chairman of the Board, Philip WINCKLE combines a thorough knowledge of the Association to senior risk management experience at the large Swedish bank  S E B.
He succeeds to Jeroen BATEMA, who is resigning to devote himself to a new financial services venture. All present members have granted a standing applause to Jeroen BATEMA for his foresighted leadership since the inception of PECDC.

16 Member-banks on 27 have sent their votes -  the quorum being 14, the vote is valid;
16 Members have voted YES on the resolution regarding the contract for service in North America;
15 Members have voted YES on the resolution regarding the release of a data summary on the website.
3 Member-banks have voted late YES on the 2 resolutions.
8 Members-banks have not answered, i.e. have abstained from the vote.

12 Member-banks have started to report Unresolved Defaults; let us thank them for their efforts!

The re-composed Methodology Committee (the MethCom), now chaired by Richard CRECEL, resumes its work and determines the list of topics until the next general meeting on 16/17th December, in Copenhagen.

This is the limit date to collect the CCF studies; it looks like we will wait a few days for a few late members!

At their semi-annual meeting in Frankfurt, the Member-banks have been given a remarkable presentation by Pr Rudi ZAGST, of Munich University of Technics, on "Modelling techniques with LGD Data"; of course, the data itself is from the PECDC database.