+Article 8 6.

Article 8 6.

Hedging arrangements shall be taken into account when calculating the exposure of an AIF only if they comply with all the following conditions:

(a) 

the positions involved within the hedging relationship do not aim to generate a return and general and specific risks are offset;

(b) 

there is a verifiable reduction of market risk at the level of the AIF;

(c) 

the risks linked to derivative instruments, general and specific, if any, are offset;

(d) 

the hedging arrangements relate to the same asset class;

(e) 

they are efficient in stressed market conditions.

1. Forbhreathnú

,

1.1 Tagairtí

1.2 Ceanglais aitheanta

1.3 Caighdeáin ghaolmhara

2. Ceanglais aitheanta

Ceanglais

3. Caighdeáin ghaolmhara

Caighdeáin