Recital 1

(1)Commission Implementing Regulation (EU) 2016/2070 ² specifies the reporting requirements for institutions to enable the European Banking Authority (EBA) and competent authorities to monitor the range of risk weighted exposure amounts or own funds requirements for the exposures or transactions in the benchmark portfolio resulting from the internal approaches of those institutions, and to assess those approaches, as required by Article 78(3) of Directive 2013/36/EU (‘benchmarking exercise’). Given that institutions have to submit the results of their annual calculations at least annually and that the focus of the competent authorities’ assessments and of EBA’s reports have changed, exposures or positions that are included in the benchmark portfolios, and therefore also reporting requirements, need to be adapted. It is therefore appropriate to amend Annexes I to VII to Implementing Regulation (EU) 2016/2070.