Commission Implementing Regulation (EU) 2016/1799 of 7 October 2016 laying down implementing technical standards with regard to the mapping of credit assessments of external credit assessment institutions for credit risk in accordance with Articles 136(1) and 136(3) of Regulation (EU) No 575/2013 of the European Parliament and of the Council (Text with EEA relevance) (c. 1799)

TITLE I U.K. QUANTITATIVE FACTORS, QUALITATIVE FACTORS AND BENCHMARK

CHAPTER 3 U.K. Benchmark and related references

Article 14 U.K. Benchmark

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

(a)

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

(b)

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