Article 1
Categories of extensions and changes to the use of alternative internal models
1. Institutions shall assign extensions and changes to the use of their alternative internal models to one of the following categories:
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(a) |
material extensions and changes to the use of alternative internal models, identified in accordance with Article 2(1) and (2), which require permission from the competent authorities; |
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(b) |
non-material extensions and changes to the use of alternative internal models, which require notification to the competent authorities. |
2. Institutions shall assign non-material extensions and changes to the use of their alternative internal models as referred to in paragraph 1, point (b), to one of the following sub-categories:
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(a) |
extensions and changes, identified in accordance with Article 3(1) and (2), to be notified with additional information; |
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(b) |
extensions and changes to be notified with basic information. |