Article 428at 5% Required Stable Funding Factor

1.

The undrawn portion of committed credit and liquidity facilities specified in Chapter 2 of the Liquidity Coverage Ratio (CRR) Part of the PRA Rulebook shall be subject to a 5% required stable funding factor.

2.

Subject to Article 428da, for all netting sets of derivative contracts, institutions shall apply a 5% required stable funding factor to the absolute fair value of those netting sets of derivative contracts, gross of any collateral posted, where those netting sets have a negative fair value. For the purposes of this paragraph, institutions shall determine the fair value as gross of any collateral posted or settlement payments and receipts related to market valuation changes of such contracts.

3.

Trade finance off-balance sheet related products as referred to in Annex I of the CRR with a residual maturity of one year or more shall be subject to a 5% required stable funding factor.