The el_irb is the property of a loan that represents the expected loss, which is the best estimate of the amount to be lost on an exposure from the potential default of a counterparty. Used in the internal ratings based (IRB) approach.
EL = PD x LGD
where EL is the expected loss, PD is the probability of default, and LGD is the loss given default.
The el_irb should be recorded as a percentage between 0 and 1.