Risk of loss exceeding acquisition cost Any other risk Price risk Volatility risk Interest rate risk Liquidity risk Issuer risk up to 5% Counterparty risk up to 10% Complex Credit risk Subordinated bonds up to 20% Interest rate risk Non-Complex up to 50% Underlying asset risk up to 100% Market risk Risk of Total Loss Risk of loss exceeding acquisition cost Any risk Price risk Volatility risk Interest rate risk Money-market instruments Liquidity risk that embed a derivative Issuer risk up to 5% Counterparty risk and that incorporate a up to 10% Complex Credit risk structure which makes it up to 20% Interest rate risk Non-Complex up to 50% difficult for the client to Underlying asset risk up to 100% understand the risk Market risk Risk of Loss involved Risk of loss exceeding acquisition cost Any other risk risk Volatility risk up to 5% Interest rate risk up to 10% Complex Liquidity risk OTC Bonds up to 20% Issuer risk Non-Complex up to 50% Counterparty risk up to 100% Credit risk Interest rate risk
Risk of loss exceeding acquisition cost Any other risk Subordinated bonds Complex Non-Complex up to 5% up to 10% up to 20% up to 50% up to 100% Price risk Volatility risk Interest rate risk Liquidity risk Issuer risk Counterparty risk Credit risk Interest rate risk Underlying asset risk Market risk Risk of Total Loss Risk of loss exceeding acquisition cost Any risk Money-market instruments that embed a derivative and that incorporate a structure which makes it difficult for the client to understand the risk involved Complex Non-Complex up to 5% up to 10% up to 20% up to 50% up to 100% Price risk Volatility risk Interest rate risk Liquidity risk Issuer risk Counterparty risk Credit risk Interest rate risk Underlying asset risk Market risk Risk of Loss Risk of loss exceeding acquisition cost Any other risk OTC Bonds Complex Non-Complex up to 5% up to 10% up to 20% up to 50% up to 100% risk Volatility risk Interest rate risk Liquidity risk Issuer risk Counterparty risk Credit risk Interest rate risk
APPROPRIATENESS_TEST_Legal.docx