Article 15b Synthetic holdings for the purposes of Article 36(1)(f),(h) and (i) of Regulation (EU) No 575/2013

The following financial products shall be considered synthetic holdings of capital instruments pursuant to points (f), (h) and (i) of Article 36(1) of Regulation (EU) No 575/2013:

1. (a)

   derivative instruments that have capital instruments of a financial sector entity as their underlying or have the financial sector entity as their reference entity;

2. (b)

   guarantees or credit protection provided to a third party in respect of the third party's investments in a capital instrument of a financial sector entity.

The financial products provided for in paragraph 1 shall include the following:

1. (a)

   investments in total return swaps on a capital instrument of a financial sector entity;

2. (b)

   call options purchased by the institution on a capital instrument of a financial sector entity;

3. (c)

   put options sold by the institution on a capital instrument of a financial sector entity or any other actual or contingent contractual obligation of the institution to purchase its own own funds instruments;

4. (d)

   investments in forward purchase agreements on a capital instrument of a financial sector entity.