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Recital 8

Recital 8

(8)Where an institution that meets the requirements of Article 258(1) of Regulation (EU) No 575/2013 applies for a permission to use an internal model for calculating K IRB in relation to qualifying securitised exposures, the requirement laid down in Article 145(1) of that Regulation that the institution shall have been using that internal model for at least 3 years prior to applying for permission should not apply for the purposes of the SEC-IRBA, because the experience the institution has gained by using at least one rating system in the relevant IRB exposure class should be considered sufficient for those purposes.

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