Article 17 Frequency of review

Institutions shall review their compliance with Article 406 of Regulation (EU) No 575/2013 after becoming exposed to a securitisation positions at least annually and more frequently, as soon as institutions become aware of a breach of the obligations included in the documentation relating to the securitisation or of a material change in any of the following:

1. (a)

   structural features that can materially impact on the performance of the securitisation position;

2. (b)

   the risk characteristics of the securitisation positions and of the underlying exposures.