Where a securitisation position
is assigned a 1 250 % risk weight under this Section, institutions
may deduct the exposure
value of such position from Common Equity Tier 1 capital in accordance with point (k) of Article 36(1) as an alternative to including the position in their calculation of risk-weighted exposure
amounts. For that purpose, the calculation of the exposure
value may reflect eligible funded credit protection
in accordance with Article 249.