Effective from Jan 01 2023 - Dec 31 2022
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22.23	The formulation of the SEC-IRBA is expressed as follows, where:
	(1)	is the capital requirement per unit of securitization exposure under the SEC-IRBA, which is a function of three variables;
	(2)	The constant e is the base of the natural logarithm (which equals 2.71828);
	(3)	The variable a is defined as -(1 / (p * KIRB));
	(4)	The variable u is defined as D - KIRB; and
	(5)	The variable l is defined as the maximum of A - KIRB and zero.
22.24	The risk weight assigned to a securitization exposure when applying the SEC- IRBA is calculated as follows:
	(1)	When D for a securitization exposure is less than or equal to KIRB, the exposure must be assigned a risk weight of 1250%.
	(2)	When A for a securitization exposure is greater than or equal to KIRB, the risk weight of the exposure, expressed as a percentage, would equal times 12.5.
	(3)	When A is less than KIRB and D is greater than KIRB the applicable risk weight is a weighted average of 1250% and 12.5 times  according to the following formula:
22.25	The risk weight for market risk hedges such as currency or interest rate swaps will be inferred from a securitization exposure that is pari passu to the swaps or, if such an exposure does not exist, from the next subordinated tranche.
22.26	The resulting risk weight is subject to a floor risk weight of 15%.