3. Guidelines on the estimation of LGD appropriate for an economic downturn ('Downturn LGD estimation') (EBA/GL/2019/03)

	1. Compliance and reporting obligations
	2. Subject matter, scope and definitions
	3. Implementation
	4. General requirements on downturn LGD estimation
	4.1 Requirements that apply to the final downturn LGD estimates
	4.2 Downturn LGD estimation for defaulted exposures
	4.3 Downturn LGD estimation for a considered downturn period
	5. Downturn LGD estimation based on observed impact
	6. Downturn LGD estimation based on estimated impact
	7. Downturn LGD estimation where observed or estimated impact is not available
	8. Reference Value

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