Article 1
Criteria for the assessment of the modellability of risk factors that do not belong to a curve, a surface or a cube
1. Risk factors of the positions referred to in Article 325be(1) of Regulation (EU) No 575/2013 that do not belong to a curve, a surface or a cube shall be assessed as modellable where either of the following criteria is met:
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(a) |
over an observation period of 12 months ending at the previous reporting reference date referred to in Article 2(1), point (b), of Commission Implementing Regulation (EU) 2021/451 (3), both of the following conditions are met:
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(b) |
over the observation period of 12 months referred to in point (a), the institution has identified for that risk factor the existence of at least 100 prices which are verifiable in accordance with Article 2 of this Regulation, which have distinct observation dates and which are considered representative of that risk factor in accordance with Article 3 of this Regulation. |
2. An institution may replace the 12-month period referred to in paragraph 1 by a 12-month period ending no earlier than one month before the previous reporting reference date referred to in Article 2(1), point (b), of Implementing Regulation (EU) 2021/451 (‘shifted period’), where all of the following conditions are met:
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(a) |
the institution applies that shifted period consistently across all risk factors of the same type as the risk factor concerned; |
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(b) |
the institution applies that shifted period consistently over time; |
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(c) |
the institution provides the competent authority with a detailed description of the application of that shifted period. |
(3) Commission Implementing Regulation (EU) 2021/451 of 17 December 2020 laying down implementing technical standards for the application of Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to supervisory reporting of institutions and repealing Implementing Regulation (EU) No 680/2014 (OJ L 97, 19.3.2021, p. 1).