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Provision history · CRR

Art. 495n · Transitional provisions on own funds requirements for positions in CIUs under the alternative internal model approach

Capital Requirements Regulation · 32013R0575 · every version of this act · on EUR-Lex

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Amended by Regulation (EU) 2026/1221 32026R1221 on EUR-Lex

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This is a newly inserted article that creates temporary derogations from the look-through requirement of Article 325bh(1), point (i), for positions in CIUs under the alternative internal model approach.

It allows institutions, until 31 December 2029, to look through only at least 50% of a CIU's underlying positions by market value and to do so quarterly rather than weekly, with a specified risk weight applied to the remaining positions, while also requiring monitoring of risks from significant compositional changes between calculation dates and permitting use of an alternative modelling approach subject to competent authority approval.

Cited: Art. 495n, v2

v1 is the previous version, v2 this one.

Text from EUR-Lex

Inserted in this version 02013R0575-20270101

Article 495n
Transitional provisions on own funds requirements for positions in CIUs under the alternative internal model approach
1. By way of derogation from Article 325bh(1), point (i), and until 31 December 2029, institutions may look through:
(a) at least 50 % of all underlying positions of the CIU, measured by market value;
(b) the underlying positions of the CIUs on a quarterly basis rather than on a weekly basis.
For the purposes of the first subparagraph, point (a), institutions shall calculate the own funds requirement for market risk for all remaining positions in that CIU using the risk weight set out in Article 325j(1), point (b)(i).
2. When carrying out the look through referred to in paragraph 1, institutions shall be able to monitor risks resulting from significant changes in the composition of the CIUs concerned between two calculation dates.
3. By way of derogation from Article 325bh(1), point (i), an institution may use an alternative modelling approach for the calculation of the own funds requirements for market risk for positions in CIUs under the alternative internal model approach, subject to approval by its competent authority.