EU banks slash default risk estimates for corporates by 30%

European Union banks have dramatically cut their default risk estimates for corporate borrowers globally over the last three years, data collated by the European Banking Authority (EBA) shows.

The average weighted probability of default (PD) for corporate exposures across 39 countries was 2.61% in the first quarter of 2018, down from 3.81% in the first quarter of 2015 and a peak of 4% in the second quarter of 2015. 

The PDs for corporate counterparties in all countries have either declined or

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