Contents
(a)they shall determine a time series of losses as follows:
(i)they shall determine, in accordance with Article 3, the time series of 10 business days returns for the non-modellable risk factor for the stress period determined in accordance with Article 12;
(ii)they shall apply to the value of the non-modellable risk factor the shocks that correspond to the returns in the time series of 10 business days returns determined in accordance with point (i);
(iii)they shall determine the time series of losses by calculating the losses which would occur if the non-modellable risk factor takes the values obtained in accordance with point (ii);
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