(a) for a Traditional Securitisation the underlying Exposures must be treated as if they had not been securitised;

(b) Authorised Firms must not include any gain-on-sale in any element or component of their Capital Resources;

(c) for Synthetic Securitisations, the Authorised Firm must hold capital against the entire amount of securitised Exposures; and

(d) where a Synthetic Securitisation incorporates a call that is not a Clean-Up Call, the Authorised Firm must treat the transaction in accordance with the relevant Credit Risk mitigation techniques in PIB section 4.13.