Recital 2

(2)Commission Delegated Regulation (EU) 2025/1496 ⁴ amended Article 520a of Regulation (EU) No 575/2013 of the European Parliament and of the Council ⁵ to defer the application of the Fundamental Review of the Trading Book standards for the calculation of own funds requirements for market risk. That amendment has as a consequence that, until 1 January 2027, institutions are required to continue to apply the market risk framework laid down in the version of Regulation (EU) No 575/2013 in force on 8 July 2024. It follows that the scope of application of the benchmarking exercise should temporarily remain limited to institutions that are permitted to use the internal approaches (Internal Model Approach) as referred in Article 78(1), point (a), of Directive 2013/36/EU.