Directive 2006/48/EC of the European Parliament and of the Council of 14 June 2006 relating to the taking up and pursuit of the business of credit institutions (recast) (Text with EEA relevance) (repealed)

17.Underlying financial instruments other than debt instruments shall be assigned to the same respective hedging sets only if they are identical or similar instruments. In all other cases they shall be assigned to separate hedging sets. The similarity of instruments is established as follows:U.K.

for equities, similar instruments are those of the same issuer. An equity index is treated as a separate issuer;
for precious metals, similar instruments are those of the same metal. A precious metal index is treated as a separate precious metal;
for electric power, similar instruments are those delivery rights and obligations that refer to the same peak or off-peak load time interval within any 24-hour interval; and
for commodities, similar instruments are those of the same commodity. A commodity index is treated as a separate commodity.

Directive 2006/48/EC of the European Parliament and of the Council (repealed)Show full title

17.Underlying financial instruments other than debt instruments shall be assigned to the same respective hedging sets only if they are identical or similar instruments. In all other cases they shall be assigned to separate hedging sets. The similarity of instruments is established as follows:U.K.