Articles 9 through 15 built delta risk one risk class at a time, each with its own dedicated bucket structure,

With commodity risk complete, this article covers the sixth and final individual delta risk class: foreign exchange risk. The bucket,

With equity risk complete, we move to the fifth risk class: commodity risk. This is the risk class with the

With credit spread risk complete across Articles 10, 11 and 12, we move to the fourth risk class: equity risk.

Article 11 covered the correlation trading portfolio. This article, and Part B that follows it, cover the other securitisation category:

Article 10 built the full non-securitisation credit spread risk framework. This article covers the first of two securitisation-related CSR risk

With GIRR fully built across Articles 9A and 9B, we move to the second risk class: credit spread risk on

Part A defined what counts as a GIRR risk factor. This part supplies the actual numbers: the bucket structure, the

Articles 8A through 8D built the complete SBM engine — the formulas, the sensitivity mechanics, the look-through rules. From here,

This is the final part of our FRTB four-part look at SBM core mechanics. Parts A through C built the