Prudential Regulation Authority Rulebook

For the purpose of this Chapter 4 of the Trading Book (CRR) Part of the PRA Rulebook the following definitions shall apply:

1. (a) 'valuation position' means a financial instrument or commodity or portfolio of financial instruments or commodities held in both trading and non-trading books, which are measured at fair value;
2. (b) 'valuation input' means a market observable or non-observable parameter or matrix of parameters that influences the fair value of a valuation position;
3. (c) 'valuation exposure' means the amount of a valuation position which is sensitive to the movement in a valuation input.

[Note: This rule corresponds to Article 2 of Part 2 of Regulation (EU) No 2016/101 as it applied immediately before revocation by the Treasury.]