Factors affecting the valuation
Article 9
1. The valuer shall take into account general factors that may affect the key assumptions on which the values of assets and liabilities in the areas referred to in Article 8 are based, including the following factors: (a) the economic and industry circumstances affecting the entity, including relevant market developments; (b) the entity's business model and changes in its strategy; (c) the entity's asset selection criteria, including loan underwriting policies; (d) circumstances and practices that are likely to lead to payment shocks; (e) circumstances affecting the parameters used to determine risk weighted assets for the calculation of minimum capital requirements; (f) the impact of the entity's financial structure on the capacity of the entity to retain assets for the expected holding period and the entity's ability to generate predictable cash flows; (g) general or entity-specific liquidity or funding concerns. 2. The valuer shall clearly separate any material unrealised gains identified in the valuation process, to the extent that those gains have not been recognised in the valuation, and shall provide adequate information in the valuation report of the exceptional circumstances that have led to those gains.