176. For the purposes of taking into account the information on the time in-default and recoveries realised so far, in accordance with Article 54(2)(b) of the RTS on IRB assessment methodology institutions may take into account this information either directly as risk drivers or indirectly, for instance by setting the reference date for estimation, as referred to in paragraphs 171 to 174.

177. For the purpose of EL_BE and LGD in-default estimation, institutions should analyse the potential risk drivers referred to in paragraph 121 not only until the moment of default but also after the date of default and until the date of termination of the recovery process. Institutions should analyse also other potential risk drivers that might become relevant after the date of default, including in particular the expected length of the recovery process and the status of the recovery process. Institutions should use the values of risk drivers as well as the values of collateral adequate to the reference dates specified in accordance with paragraphs 171 to 174.