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  • CA-11.5 CA-11.5 Calculation of the Capital Charge

    • CA-11.5.1

      The capital charge is 8% of the overall net open position.

      January 2015

    • CA-11.5.2

      The table below illustrates the calculation of the overall net open position and the capital charge:

      January 2015

    • Example of the Calculation of the Foreign Exchange Overall Net Open Position and the Capital Charge

      • CA-11.5.3

        GBP EURO CA$ US$ JPY Gold
        +100 +150 +50 -180 -20 -20
        +300 -200 20
        The capital charge is 8% of the higher of either the sum of the net long currency positions or the sum of the net short positions (i.e. 300) and of the net position in gold (i.e. 20) = 320 x 8% = 25.6
        January 2015