[ESMA 33-128-563 Securitisation Q&A, Q&A 5.3.9]

(a) Where the underlying exposure has never been in arrears, this field should be completed as ‘ND5’.

(b) Where the underlying exposure is in default and the underlying exposure has never previously been in arrears, this field should be completed as ‘ND5’. If the underlying exposure has been in arrears in the past, in a manner not related to the current default status, then this field should reflect the previous date at which the underlying exposure was in arrears.