Recovery Rate is calculated using monthly day, representing the percentage of balance that has been recovered on charged-off loans as of the corresponding date / month on book.  This value is then used to calculate Loss Severity, which reflects the overall charge-off that has not been recovered as of the corresponding date / month on book. dv01 supports two variations of these calculations, both of which are described below:

The Backdated variants align all recoveries received with the month of charge-off, regardless of when they were actually received.  These views are meant to show the current Recovery Rate and corresponding Loss Severities associated with a given charge-off vintage.

The Unbackdated variants record recoveries in the calendar month / month on book they were received. These views are meant to show recoveries received as a percentage of the balance charged-off in that same month, regardless of which charged-off loans the recoveries relate to.