1.By way of derogation from Article 325bh(1), point (i), and until 31 December 2029, institutions may look through:
at least 50 % of all underlying positions of the CIU, measured by market value;
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.