Recital 1

(1)Commission Delegated Regulation (EU) No 529/2014 ² sets the criteria for the assessment of materiality of extensions and changes of Internal Ratings Based (IRB) Approaches and Advanced Measurement Approaches (AMA), used for the calculation of capital requirements for credit and operational risk. This Regulation should specify the conditions for assessing materiality of extensions and changes to Internal Models approaches (IMA), which are used for the calculation of own funds requirements for market risk. Taking into account that all relevant supervisory issues and procedures are similar for all types of internal approaches, i.e. relating to credit, operational or market risk, it is important to ensure coherence between all provisions regulating extensions and changes to internal approaches and to facilitate a comprehensive view and access in a coordinated way to them by persons subject to the obligations laid down in those provisions. Therefore, it is necessary to include all the regulatory technical standards required in Regulation (EU) No 575/2013 on extensions and changes to internal approaches in one single legal text.