3.

Without prejudice to point (b) of paragraph 1, institutions may include the amount of gains and losses on their liabilities in own funds where all the following conditions are met: the liabilities are in the form of bonds as referred to in Article 52(4) of Directive 2009/65/EC; the changes in the value of the institution's assets and liabilities are due to the same changes in the institution's own credit standing; there is a close correspondence between the value of the bonds referred to in point (a) and the value of the institution's assets; it is possible to redeem the mortgage loans by buying back the bonds financing the mortgage loans at market or nominal value.

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Source: EUR-Lex (Cellar) · retrieved 2026-09-25 · Text as adopted (Official Journal); later amendments are not incorporated in this text.