Document ID: chunk:federal_register_of_legislation:F2022C00868:reg:57:p2
Version: federal_register_of_legislation:F2022C00868
Segment Type: reg
Provision Reference: reg 57 (pt 2/2)
Character Range: 127011–128082

principal amount or the market value of the underlying multiplied by the percentage in the table below subject to subsection (3); and
 (c) the fair value of any collateral that has been transferred to the counterparty to a derivative or securities lending arrangement but not including where the collateral is held by the passport fund and an encumbrance over it is provided to the counterparty to secure the obligations of the passport fund to the counterparty under the derivative or securities lending arrangement.
 (2) The market value of the underlying is:
 (a) if the underlying is an asset—the market value of the asset; or
 (b) if the underlying is an interest rate or rate of inflation on which an interest rate is based—the notional value of the principal to which that rate is applied; or
 (c) if the underlying is an index—the market value of the assets represented in the index.

Item  Residual Term           Interest rate contracts  Currency Exchange rate contracts  Equity derivative contracts  Total return swaps and Credit default swaps  Other contracts