1. The risk characteristics of the individual securitisation position referred to in Article 406(1)(b) of Regulation (EU) No 575/2013 shall include the following most appropriate and material characteristics, such as:
(a) tranche seniority level;
(b) cash flow profile;
(c) any existing rating;
(d) historical performance of similar tranches;
(e) obligations related to the tranches included in the documentation relating to the securitisation;
(f) credit enhancement.
2. The risk characteristics of the exposures underlying the securitisation position referred to in Article 406(1)(c) of Regulation (EU) No 575/2013 shall include the most appropriate and material characteristics, including the performance information referred to in Article 406(2) of Regulation (EU) No 575/2013 in relation to residential mortgage exposures. Institutions shall identify appropriate and comparable metrics for analysing the risk characteristics of other asset classes.
3. Additional structural features as refe