{
  "url": "https://openlegislation.uk/eu-regulation-2016-2251/annex-I",
  "json_url": "https://openlegislation.uk/eu-regulation-2016-2251/annex-I.json",
  "legislation": "eur/2016/2251",
  "legislation_title": "Commission Delegated Regulation (EU) 2016/2251 of 4 October 2016 supplementing Regulation (EU) No 648/2012 of the European Parliament and of the Council on OTC derivatives, central counterparties and trade repositories with regard to regulatory technical standards for risk-mitigation techniques for OTC derivative contracts not cleared by a central counterparty (Text with EEA relevance)",
  "legislation_url": "https://openlegislation.uk/eu-regulation-2016-2251",
  "path": "annex/I",
  "kind": "annex",
  "number": "I",
  "heading": "Correspondence of Probability of default (‘PD’) to Credit quality steps for the purposes of Articles 6 and 7",
  "text": "An internal rating with a PD equal to or lower than the value in Table 1 shall be associated to the corresponding credit quality step.\nTable 1\nCredit Quality Step\nProbability of default, as defined in Article 4(54) of Regulation (EU) 575/2013 lower than or equal to:\n1\n0,10 %\n2\n0,25 %\n3\n1 %\n4\n7,5 %",
  "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/2016/2251/annex/I",
    "retrieved_at": "2026-11-01T14:45:18.172261+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."
}