1.Risk factors for the positions referred to in Article 325be(1) of Regulation (EU) No 575/2013 that belong to a curve, surface or cube shall be assessed as modellable by applying the following steps in the following order:
(a)for each curve, surface or cube, the institution determines the relevant buckets of risk factors in accordance with Article 5 of this Regulation;
(b)the institution determines the modellability of the relevant buckets referred to in point (a) in accordance with paragraph 2;
(c)the institution considers as modellable any risk factor that belongs to a bucket that has been considered modellable in accordance with paragraph 2.