# Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 (Text with EEA relevance), Article 500c: Exclusion of overshootings from the calculation of the back-testing addend in view of the COVID-19 pandemic

Extent: E+W+S+N.I.

By way of derogation from Article 366(3), competent authorities may, in exceptional circumstances and in individual cases, permit institutions to exclude the overshootings evidenced by the institution’s back-testing on hypothetical or actual changes from the calculation of the addend set out in Article 366(3), provided that those overshootings do not result from deficiencies in the internal model and provided that they occurred between 1 January 2020 and 31 December 2021.

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Source: https://www.legislation.gov.uk/eur/2013/575/article/500c (the official version)
Page: https://openlegislation.uk/eu-regulation-2013-575/article-500c
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.