1. For the purpose of profit and loss attribution in accordance with Article 123 of Directive 2009/138/EC, insurance and reinsurance undertakings shall specify all of the following:

(a) the profit and loss;

(b) the major business units of the undertaking;

(c) the categorisation of risks chosen in the internal model;

(d) the attribution of the overall profit or loss to the risk categories and major business units.

2. The specification of profit and loss shall be consistent with the increase and decrease of the monetary amount underlying the probability distribution forecast referred to in Article 228(1).

3. The categorisation of risks chosen in the internal model shall be adequate, and sufficiently granular, for the purpose of risk-management and decision-making in accordance with Article 120 of Directive 2009/138/EC. The categorisation of risk shall distinguish between risks covered by the internal model and risks not covered by the internal model.

4. The attribution of profit and loss shall be made in an objective and transparent manner and be consistent over time.