CA-11.3.7
Positions of a structural, i.e. non-dealing, nature as set out below, may be excluded from the calculation of the net open currency positions:
(a) Positions are taken deliberately in order to hedge , partially or totally, against the adverse effects of exchange rate movements on the conventional bank licensee's CAR;
(b) Positions related to items that are deducted from the conventional bank licensee's capital when calculating its capital base in accordance with the rules and guidelines in this Module, such as investments in non-consolidated subsidiaries; and
(c) Retained profits held for payout to parent.
January 2015