Article 165 › 1

PDs shall be determined according to the methods for corporate exposures. The following minimum PDs shall apply: (a) 0,09 % for exchange traded equity exposures where the investment is part of a long-term customer relationship; (b) 0,09 % for non-exchange traded equity exposures where the returns on the investment are based on regular and periodic cash flows not derived from capital gains; (c) 0,40 % for exchange traded equity exposures including other short positions as set out in Article 155(2); (d) 1,25 % for all other equity exposures including other short positions as set out in Article 155(2).

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Source: EUR-Lex CELLAR · retrieved 2026-09-04