(2)For the credit risk analysis, previous benchmarking exercises highlighted some potential for improving both the definition of the benchmarking portfolios and the reporting instructions. Clear definitions and instructions are necessary to foster a consistent interpretation and implementation of the reporting requirements across institutions, which, in turn, will lead to better data quality and more accurate benchmark values. In addition, the previous benchmarking exercises demonstrated that the number of portfolios reported and their complexity were a strong impediment to the quality of the data reported. To improve the quality of the data reported and to obtain more accurate benchmark values, it is therefore necessary to revise the benchmarking portfolios on the basis of three main principles, namely that the number of benchmark portfolios to be reported is decreased that the design of the benchmark portfolios is simplified and that there is a need for stable benchmark portfolio definitions.