In accordance with Article 20 of Regulation 1503/2020, the Default Rate related to projects presented on the Platform is published in this section. Default rate of loans offered on the platform pursuant to Article 20, paragraph 1, letter a)
Timeframe under consideration
Default rate
2022
0.00%
2023
1.43%
2024
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Total financed
1.66%
Calculation method:
Each percentage is determined as follows:
Default rate =
number of projects that have been in a default state at least once in the year
total number of projects in the year
%
The total is the result of the simple average of the annual default rate per risk category observed throughout the historical period.
Actual default rate of loans offered on the platform by risk category pursuant to Article 20, paragraph 1, letter b) i)
In compliance with regulatory standards, the following data is updated at the close of the fiscal year.
Timeframe under consideration
*RC
*RMC
*RE
*RME
*REE
2022
0.00%
0.00%
0.00%
0.00%
0.00%
2023
0.00%
0.00%
0.00%
100.00%
0.00%
2024
---------
---------
---------
---------
---------
Total financed
0.00%
0.00%
0.00%
50.00%
0.00%
Calculation Method:
Each percentage, by risk category, is determined as follows:
Default rate =
number of projects that have been in a default state at least once in the year
total number of projects in the year
%
The total is the result of the simple average of the annual default rate by risk category observed over the entire 36-month period.
Expected default rate of loans offered on the platform by risk category pursuant to Article 20, paragraph 1, letter b) i)
In compliance with regulatory standards, the following data is updated at the close of the fiscal year.
The Expected Default Rate provides an estimate of the percentage of non-defaulted loans expected to default in a one-year observation period.
Estimates are based on actual default rates.
Timeframe under consideration
*RC
*RMC
*RE
*RME
*REE
2024
0.00%
8.33%
0.00%
0.00%
0.00%
*Legend: RC = Low Risk RMC = Moderate Low Risk RE = Elevated Risk RME = Moderate High Risk REE = Extremely High Risk
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The definition is provided by art. 1 of Regulation 2022/2115; a particular loan is in default when at least one of the following conditions occurs:
a) it is unlikely that, without resorting to actions such as the enforcement of guarantees, the project owner will fully repay or otherwise fulfill their credit obligations related to the loan in question;
b) the project owner is more than 90 days overdue on a relevant credit obligation related to the loan in question.
It depends. In the case where the credit agreement explicitly allows the project owner to modify the repayment plan, suspend, or defer payments under certain conditions, and the project owner acts within the rights recognized by the contract, the installments that have been modified, suspended, or deferred are not considered overdue, but the calculation of overdue days is based on the new repayment plan, once specified.
a) there has been a burdensome restructuring of the credit obligation related to the loan in question, which likely involves a reduced financial obligation due to a substantial debt forgiveness or the deferment of payments of principal, interest, or, if applicable, fees;
b) the project owner has requested or has been placed in bankruptcy or a similar situation, where this prevents or delays the repayment to investors of the credit obligation related to the loan in question.
