1.Risk factors of the positions referred to in Article 325be(1) of Regulation (EU) No 575/2013 that do not belong to a curve, a surface or a cube shall be assessed as modellable where either of the following criteria is met:
over an observation period of 12 months ending at the previous reporting reference date referred to in Article 2(1), point (b), of Commission Implementing Regulation (EU) 2021/451 1, both of the following conditions are met:
the institution has identified for that risk factor the existence of at least 24 prices which are verifiable in accordance with Article 2 of this Regulation, which have distinct observation dates and which are considered representative of that risk factor in accordance with Article 3 of this Regulation;
there has not been a period of 90 days or more in which there were less than four of the verifiable prices referred to in point (i);
over the observation period of 12 months referred to in point (a), the institution has identified for that risk factor the existence of at least 100 prices which are verifiable in accordance with Article 2 of this Regulation, which have distinct observation dates and which are considered representative of that risk factor in accordance with Article 3 of this Regulation.
2.An institution may replace the 12-month period referred to in paragraph 1 by a 12-month period ending no earlier than one month before the previous reporting reference date referred to in Article 2(1), point (b), of Implementing Regulation (EU) 2021/451 (‘shifted period’), where all of the following conditions are met:
the institution applies that shifted period consistently across all risk factors of the same type as the risk factor concerned;
the institution applies that shifted period consistently over time;
the institution provides the competent authority with a detailed description of the application of that shifted period.