Global Credit Data (GCD) (formerly named PECDC or the Pan-European Credit Data Consortium) was formed in December 2004 as a credit data pooling initiative primarily designed to assist member banks’ completion of Basel II preparations in their pursuit of Advanced Status for AIRB. Initially it was formed as a loose affiliation of 13 original member banks. GCD now has the largest commercial loan loss and recovery dataset in existence. Membership has grown from the original base of 13 to a membership of 42 banks at May 2014 and the geographic coverage of the GCD databases, originally limited to Europe, have been extended to banks in Africa, Australia and North America. In December 2008 GCD was incorporated as a private not-for-profit legal association, domiciled in The Netherlands under Dutch