{
  "url": "https://openlegislation.uk/eu-regulation-2014-526/article-2",
  "json_url": "https://openlegislation.uk/eu-regulation-2014-526/article-2.json",
  "legislation": "eur/2014/526",
  "legislation_title": "Commission Delegated Regulation (EU) No 526/2014 of 12 March 2014 supplementing Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to regulatory technical standards for determining proxy spread and limited smaller portfolios for credit valuation adjustment risk (Text with EEA relevance)",
  "legislation_url": "https://openlegislation.uk/eu-regulation-2014-526",
  "path": "article/2",
  "kind": "article",
  "number": "2",
  "heading": "Identification of LGDMKT",
  "text": "In order to identify the loss given default of the counterparty (LGDMKT) for the purposes of calculating the own funds requirements for CVA risk according to the advanced method for a counterparty requiring the use of a proxy spread, institutions shall use a value for LGDMKT that is consistent with the fixed LGDs commonly used by market participants for determining implied PDs from those market spreads that have been used to determine the proxy spread for the counterparty in question in accordance with Article 1.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/eur/2014/526/article/2",
    "retrieved_at": "2026-11-01T14:47:39.821088+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}