Atlas / Glossary / Probability of default (PD)Probability of default (PD) The chance a borrower fails to pay over a stated horizon. One of the three inputs to expected credit loss , and the one driven by ability to pay rather than by collateral .
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Where Probability of default is explained in depth The definition above is the short version. These pages put it to work, in the order they use it most:
Terms this definition uses The whole glossary
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