This is the number of back-testing exceptions calculated over the duration of the relevant period in relation to positions giving rise to equity position risk, as determined in accordance with relevant prudential standards.Equity positions include on and off-balance sheet exposures which are affected by changes in Equity prices. 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.Back-testing represents the process of comparing the daily trading outcome (profit or loss) with the corresponding VaR number for that day. For the purposes of this item, exceptions are reported where the trading outcome on a particularly day is a loss that exceeds the corresponding VaR number for that day.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 VaR used is to be the 99% ten-day VaR number calculated daily over the relevant period. 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.