3. Resolution authorities shall determine the value of liabilities arising from derivatives in accordance with all of the following:
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(a)
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appropriate methodologies for determining the value of classes of derivatives, including transactions that are subject to netting agreements;
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(b)
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principles for establishing the relevant point in time at which the value of a derivative position should be established;
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(c)
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appropriate methodologies for comparing the destruction in value that would arise from the closeout and write-down or conversion of derivatives with the amount of losses that would be borne by derivatives in a write-down or conversion.
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