Directive 2006/49/EC of the European Parliament and of the Council of 14 June 2006 on the capital adequacy of investment firms and credit institutions (recast) (repealed) (c. 49)

ANNEX IV U.K. CALCULATING CAPITAL REQUIREMENTS FOR COMMODITIES RISK

2. Positions in gold or gold derivatives shall be considered as being subject to foreign‐exchange risk and treated according to Annex III or Annex V, as appropriate, for the purpose of calculating market risk. U.K.