The article discusses how models for credit risk are validated by focusing on default probability, loss given default, and exposure at default. It highlights the importance of counterparty credit risk after the 2008 financial crisis, especially in derivative trading. This type of risk affects not only financial institutions but also the stability of the entire financial system. Counterparty credit risk is crucial in over-the-counter derivatives and securities financing transactions. Various studies have analyzed the modeling of counterparty credit risk, including its combination with market risk.