1.   For the purposes of Article 325bg(2) of Regulation (EU) No 575/2013, institutions shall calculate, for a given trading desk’s portfolio, the Spearman correlation coefficient laid down in Article 7 of this Regulation, and the Kolmogorov-Smirnov test metric laid down in Article 8 of this Regulation and, based on the results of those calculations, apply the criteria referred to in Article 9 of this Regulation. Where, according to those criteria, the theoretical changes and the hypothetical changes in the value of a trading desk portfolio are not sufficiently close, institutions shall be subject to the consequence set out in Article 10 of this Regulation.

2.   For the purposes of paragraph 1, institutions may align the point in time (snapshot time) for which they calculate the theoretical changes in the trading desk portfolio’s value with the snapshot time for which they calculate the hypothetical changes in that value.