1.Institutions shall mark to market their trading books on a daily basis unless they are subject to Article 4 (6).
2.In the absence of readily available market prices, for example in the case of dealing in new issues on the primary markets, the competent authorities may waive the requirement imposed in paragraph 1 and require institutions to use alternative methods of valuation provided that those methods are sufficiently prudent and have been approved by competent authorities. SUPERVISION ON A CONSOLIDATED BASIS