SS3/24 – Credit risk definition of default (near-final version) (effective from 1 January 2026)

Published date: 12 September 2024

SS3/24 was published with its near-final version following the publication of PS9/24 – Implementation of the Basel 3.1 standards near-final part 2 and will be effective from 1 January 2026.

	1: Introduction
	2: Past due criterion in the identification of default
	3: Indications of unlikeliness to pay
	4: Application of the definition of default in external data
	5: Return to non-defaulted status
	6: Consistency in the application of the definition of default
	7: Application of the definition of default for retail exposures
	8: Documentation, internal policies, and risk management processes

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