Division 1 Full risk:X1

guarantees having the character of credit substitutes, (e.g. guarantees for the good payment of credit facilities);

credit derivatives;

acceptances;

endorsements on bills not bearing the name of another institution F1or an investment firm;

transactions with recourse (e.g. factoring, invoice discount facilities);

irrevocable standby letters of credit having the character of credit substitutes;

assets purchased under outright forward purchase agreements;

forward deposits;

the unpaid portion of partly-paid shares and securities;

F2other off-balance sheet items:

1. (i)

   including agreements where the transferee is merely entitled to return the assets at the purchase price or for a different amount agreed in advance on a date specified or to be specified, the transaction in question shall be deemed to be a sale with an option to purchase; and

2. (ii)

   excluding agreements where the transferor is not entitled to show in his balance sheets the assets transferred;

other items also carrying full risk.