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In this paper, we estimate the sustainable level of lifetime expected credit losses and provisions and assess the procyclicality of banks' credit losses and provisions in the Czech Republic. Further, we discuss the implications of the results for provisioning in stage 3 under the IFRS 9. Based on the estimation results, we can identify periods of insufficient provisioning when the actual values were below the sustainable levels. Additionally, we show that credit losses and provisions behavedoi:10.2478/revecp-2021-0011 fatcat:dj36ovdbebhrtejr5methwgfoe