Guidance

1. Section A10.2 of App10 sets out how the value of stock of HQLA and Total Net Cash Outflows are to be calculated.
2. An Authorised Person active in multiple currencies should:
a. maintain HQLA consistent with the distribution of its liquidity needs by currency;
b. assess its aggregate foreign currency liquidity needs and determine an acceptable level of currency mismatches; and
c. undertake a separate analysis of its strategy for each currency in which it has material activities, considering potential constraints in times of stress.