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[X1PART THREE U.K. CAPITAL REQUIREMENTS

TITLE IVU.K. OWN FUNDS REQUIREMENTS FOR MARKET RISK

CHAPTER 2 U.K. Own funds requirements for position risk

Section 3 U.K. Equities

Article 341U.K. Net positions in equity instruments

1.The institution shall separately sum all its net long positions and all its net short positions in accordance with Article 327. The sum of the absolute values of the two figures shall be its overall gross position.

2.The institution shall calculate, separately for each market, the difference between the sum of the net long and the net short positions. The sum of the absolute values of those differences shall be its overall net position.

3.[F1The [F2PRA may] make technical standards] defining the term market referred to in paragraph 2.

F3...]