(a)

the data represents the risk profile of the institution’s specific equity exposures;

(b)

the data is sufficient to provide statistically reliable loss estimates, or it has been adequately adjusted in order to attain model outputs that achieve appropriate realism and conservatism;

(c)

the data used comes from external sources or, where internal data is used, it is independently reviewed by a relevant control function of the institution;

(d)

the data reflects the longest available period in order to provide a conservative estimate of potential losses over a relevant long-term or business cycle, and in particular that it includes the period of significant financial stress relevant to the institution’s portfolio;

(e)

where converted-quarterly data from a shorter horizon is used, that the conversion procedure is supported by empirical evidence through a well-developed and documented approach and applied conservatively and consistently over time;

(f)

the longest time horizon is chosen which allows the estimation of the 99 percentile with non-overlapping observations.