MCEs
In a normal seismic hazard analyses intended for the public, that of a "maximum considered earthquake", or "maximum considered event" (MCE) for a specific area, is an earthquake that is expected to occur once in approximately 2,500 years; that is, it has a 2-percent probability of being exceeded in 50 years. The term is used specifically for general building codes, which people commonly occupy; building codes in many localities will require non-essential buildings to be designed for "collapse prevention" in an MCE, so that the building remains standing - allowing for safety and escape of occupants - rather than full structural survival of the building.
A far more detailed and stringent MCE stands for "maximum credible earthquake", which is used in designing for skyscrapers and larger civil infrastructure, like dams, where structural failure could lead to other catastrophic consequences. These MCEs might require determining more than one specific earthquake event, depending on the variety of structures included.
Read more about this topic: Seismic Hazard