For the purposes of Article 143 and Article 255(4) of Regulation (EU) No 575/2013, competent authorities may only grant an institution the permission to calculate KIRB for securitised exposures using KIRB-specific rating systems as part of the institution’s IRB approach where all of the following conditions are met:
the range of application of the KIRB-specific rating system includes only qualifying securitised exposures;
the institution has received permission to use the IRB approach in relation to at least one rating system within the exposure class to which the qualifying securitised exposures are assigned;
all requirements of Part Three, Title II, Chapter 3, of Regulation (EU) No 575/2013 relating to rating systems are met, subject to point (d) of this Article;
the institution complies with the conditions set out in Articles 5 to 15 of this Regulation instead of the corresponding conditions set out in Regulation (EU) No 575/2013, as set out in each of those Articles of this Regulation.