19.

Directive 2006/49/EC of the European Parliament and of the Council of 14 June 2006 on the capital adequacy of investment firms and credit institutions (recast) · European Union

The institution's capital requirement for each commodity shall be calculated as the sum of: 15 % of the net position, long or short, multiplied by the spot price for the commodity; and 3 % of the gross position, long plus short, multiplied by the spot price for the commodity.

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Source: EUR-Lex (Cellar) · retrieved 2026-10-10 · Text as adopted (Official Journal); later amendments are not incorporated in this text.