This is, as at the relevant date, the exposure weighted average probability of default (PD) of off-balance sheet credit exposures.Probability of default (PD) represents the risk of obligor default.A credit exposure represents an asset, liability, claim or commitment of an entity, which may be recorded on or off the balance sheet and which gives rise to credit risk.This item is calculated for capital adequacy purposes and is to be determined in accordance with relevant prudential standards.