This is, as at the relevant date, the scaling factor for the stressed Value at Risk (VaR) applicable, for positions giving rise to market risk.Stressed VaR, like VaR 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 stressed VaR however, the model inputs are calibrated to historical data from a one year observation period of significant market stress relevant to the portfolio being simulated.The scaling factor consists of a multiplication factor and a plus factor, as determined in accordance with relevant prudential standards. The multiplication factor is set for each reporting party by APRA, and is subject to a minimum of three. A plus factor may also be required by APRA. This factor relates directly to back-testing results from the most recent 250 trading days prior to the relevant date.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 stressed VaR number for that day.