This is the average value at risk (VaR), calculated over the most recent 60 trading days prior to and including the relevant date, for positions giving rise to market risk.Equity positions include both on and off-balance sheet exposures which are affected by changes in equity price. This includes holdings of, or positions in:     - ordinary shares, whether voting or non-voting;     - convertible securities that behave like equities;     - commitments to buy or sell equity securities; and     - any other instruments that exhibit market behaviour similar to equities.VaR, or Value at Risk, is a technique used to estimate the likelihood of losses in a portfolio based on analysis of historical price movements and volatilities over a specified observation period. For the purposes of this item the amount reported is the average of the 99% ten-day VaR number calculated daily over the most recent 60 trading days prior to and including the relevant date. A 99% ten-day VaR represents a simulated mark-to-market loss for which there is a 1% probability of occurrence over the next ten days, assuming there is no trading of the portfolio.