+Članak 3. Izvori tržišnih podataka
---+Article 3 1.
---+Article 3 2.
---+Article 3 3.

Članak 3. Izvori tržišnih podataka

Članak 3.

Izvori tržišnih podataka

1.  Ako institucije izračunavaju dodatne prilagodbe vrednovanja na temelju tržišnih podataka, one pritom uzimaju u obzir isti opseg tržišnih podataka koji se upotrebljava u postupku neovisne provjere cijena iz članka 105. stavka 8. Uredbe (EU) br. 575/2013, ovisno o slučaju, podložno prilagodbama opisanima u tom članku.

2.  Pri utvrđivanju bonitetne vrijednosti institucije uzimaju u obzir puni opseg raspoloživih i pouzdanih izvora tržišnih podataka, uključujući, ovisno o slučaju, sve niže navedeno:

(a) 

cijene s burza na likvidnom tržištu;

(b) 

trgovanje istim ili vrlo sličnim instrumentom, bilo na temelju vlastitih podataka institucije ili, ako su raspoloživi, podataka o trgovanju na tržištu;

(c) 

trgovinske kotacije brokera i drugih tržišnih sudionika;

(d) 

podaci pružatelja usuglašene usluge;

(e) 

indikativne kotacije brokera;

(f) 

vrednovanja kolaterala druge ugovorne strane.

3.  Ako se za potrebe članaka 9., 10. i 11. primjenjuje pristup temeljen na stručnoj procjeni, potrebno je razmotriti alternativne metode i izvore informacija, uključujući, ovisno o slučaju, sve niže navedeno:

(a) 

korištenje zamjenskih podataka na temelju sličnih instrumenata za koje ima dovoljno podataka;

(b) 

primjena bonitetnih promjena na ulazne parametre vrednovanja;

(c) 

utvrđivanje prirodnih granica vrijednosti instrumenta.

1. Pregled

,
Article 3 1.
Where institutions calculate AVAs based on market data, they shall consider the same range of market data as the data used in the independent price verification (‘IPV’) process referred to in Article 105(8) of Regulation (EU) No 575/2013, as relevant, subject to the adjustments described in this Article.
Article 3 2.

Institutions shall consider a full range of available and reliable market data sources to determine a prudent value including each of the following, where relevant:

(a) 

exchange prices in a liquid market;

(b) 

trades in the exact same or very similar instrument, either from the institution's own records or, where available, trades from across the market;

(c) 

tradable quotes from brokers and other market participants;

(d) 

consensus service data;

(e) 

indicative broker quotes;

(f) 

counterparty collateral valuations.
Article 3 3.

For cases where an expert-based approach is applied for the purpose of Articles 9, 10 and 11, alternative methods and sources of information shall be considered. including each of the following, where relevant:

(a) 

the use of proxy data based on similar instruments for which sufficient data is available;

(b) 

the application of prudent shifts to valuation inputs;

(c) 

the identification of natural bounds to the value of an instrument.

1.1 Reference

1.2 Utvrđeni zahtjevi

1.3 Povezani standardi

2. Utvrđeni zahtjevi

Zahtjevi

3. Povezani standardi

Standardi
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