(22)

Article 77 is amended as follows: paragraph 3 is replaced by the following: ‘3. Competent authorities shall encourage institutions, taking into account their size, internal organisation and the nature, scale and complexity of their activities, to develop internal market risk assessment capacity and to increase the use of internal models for calculating own funds requirements for portfolios of trading book positions, together with internal models to calculate own funds requirements for default risk where their exposures to default risk are material in absolute terms and where they have a large number of material positions in traded debt or equity instruments of different issuers. This Article is without prejudice to the fulfilment of the criteria laid down in Part Three, Title IV, Chapter 1b, of Regulation (EU) No 575/2013.’ ; in paragraph 4, the first subparagraph is replaced by the following: ‘EBA shall develop draft regulatory technical standards to define the concept of “exposures to default risk which are material in absolute terms” referred to in paragraph 3, first subparagraph, and the thresholds for large numbers of material counterparties and positions in traded debt or equity instruments of different issuers.’ ;

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Source: EUR-Lex CELLAR · retrieved 2026-09-04 · Text as adopted (Official Journal); later amendments are not incorporated in this text.