Recital 1

(1)According to Article 279a(3), point (a), of Regulation (EU) No 575/2013, the formula that institutions are to use to calculate the supervisory delta of call and put options mapped to the commodity risk category compatible with market conditions in which commodity prices may be negative should also be specified in accordance with international regulatory developments, complementing the similar formula for call and put options mapped to the interest rate risk category.