(b)

paragraph 5 is replaced by the following: ‘5. ESMA, in close cooperation with the members of the ESCB, shall develop draft regulatory technical standards to further specify; The required documents and level of information shall be proportionate to the type of model validation but contain sufficient detail to ensure a proper analysis of the change. For the purposes of the first subparagraph, point (a), ESMA may set different values for the different points of paragraph 1i. ESMA shall submit the draft regulatory technical standards referred to in the first subparagraph to the Commission by 25 December 2025. Power is delegated to the Commission to supplement this Regulation by adopting the regulatory technical standards referred to in the first subparagraph of this paragraph in accordance with Articles 10 to 14 of Regulation (EU) No 1095/2010.’ ; what constitutes a significant increase or decrease for the purposes of paragraph 1i, points (a) and (c) to (h); the elements to be considered when assessing whether one of the conditions referred to in paragraph 1i is met; other changes to models that can be considered as already covered by the approved model and are therefore not considered a model change and not subject to the procedures established in this Article or Article 49a; and the lists of required documents that are to accompany an application for validation pursuant to paragraph 1c of this Article and Article 49a and the information that such documents are to contain to demonstrate that the CCP complies with all relevant requirements of this Regulation.

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Source: EUR-Lex (Cellar) · retrieved 2026-10-16 · Text as adopted (Official Journal); later amendments are not incorporated in this text.