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  "notes": "This is a page from a financial report (UBS) detailing the methodology for calculating credit risk provisions under IFRS 9.",
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      "text": "GDP growth rates; unemployment rates; house price indices; interest rates; consumer price indices; equity indices.",
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      "text": "ECL measurement period: The period for which lifetime ECL are determined is based on the maximum contractual period that UBS is exposed to credit risk, taking into account contractual extension, termination and prepayment options.",
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      "text": "Probability of default: PD represents the probability of a default over a specified time period. A 12-month PD represents the probability of default determined for the next 12 months and a lifetime PD represents the probability of default over the remaining lifetime of the instrument.",
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      "text": "Scenario generation, review process and governance: A team of economists, who are part of Group Risk Control, develop the forward-looking macroeconomic assumptions with involvement from a broad range of experts.",
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      "text": "Macroeconomic and other factors: The range of macroeconomic, market and other factors that is modeled as part of the scenario determination is wide, and historical information is used to support the identification of the key factors.",
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      "text": "Note 1 Summary of material accounting policies (continued)",
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