1.   When assessing whether an institution’s internal model is implemented with integrity as required by Article 325bi(1) of Regulation (EU) No 575/2013 in relation to the calculation of the unconstrained expected shortfall measures and of the partial expected shortfall measures for all broad categories of risk factors at a reduced frequency as referred to in Article 325bb(4) of Regulation (EU) No 575/2013, competent authorities shall:

(a)	analyse the process that the institution uses to determine the day of the week when the measures are computed;

(b)	verify that a reduction in the calculation frequency does not lead to an underestimation of risk.

2.   For the purposes of paragraph 1, point (b), competent authorities shall:

(a)	verify whether the analysis performed by the institution is adequate to demonstrate that there is no underestimation of risk;

(b)	verify whether the evolution of the daily figures for UES t , , and calculated on all portfolio’s positions as required by Article 325bb(1) of Regulation (EU) No 575/2013, does not systematically show a lower risk profile in the day chosen by the institution.

3.   For the purposes of paragraph 2, point (b), competent authorities may, where there are hints of a systematically lower risk profile, complement their assessment by:

(a)	requiring the institution to calculate daily and for a given period the unconstrained expected shortfall measures and the partial expected shortfall measures , and for each broad risk factor categories;

(b)	analysing whether those measures are systematically lower on the day chosen by the institution.