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as defined in Directive 2006/48/EC of the European Parliament and of the Council of 14 June…

the average of the distribution of exposures at any particular future date before the longest maturity transaction in the netting set matures.

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Also defined in

  • CRR 32013R0575, Article 272, point (19)
    the average of the distribution of exposures at a particular future date before the longest maturity transaction in the netting set matures;