2023-stress-test-severely-adverse-market-shocks_Final.xlsx

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Overview

Cover Sheet
Equity by Geography
Dividends
FX Spot
FX Vega
Rates DV01
Rates Vega-Normal & Relative
Rates Vega-Normal & Absolute
Other Rates
Energy
Metals
Ags & Softs
Commodity Indices
Securitized Products
Agencies
Munis
ARS
Corporate Credit-Advanced
Corporate Credit-EM
Sovereign Credit
Credit Correlation
Private Equity
Other Fair Value Assets

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Sheet 1: Cover Sheet

	Trading, PE and Other Fair Value Assets: Market Shocks
	Scenario Name:	2023 GMS Component: Severely Adverse
	As-Of Date:	10/14/2022
	Date of Generation:	2/9/2023
	2023 GMS Component: Severely Adverse Scenario

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Sheet 2: Equity by Geography

2023 GMS Component: Severely Adverse Scenario
Equity by Geography
					Vol Points
	Country		Spot Shock (%)		1M	3M	6M	9M	1Y	2Y	3Y	5Y	7Y	10Y	15Y	20Y	30Y
	Australia		-30.4%		43.8	32.7	23.3	18.1	14.8	8.9	6.7	5.0	4.2	3.6	3.2	2.9	2.7
	Austria		-24.9%		42.3	31.6	22.5	17.4	14.3	8.6	6.5	4.8	4.0	3.5	3.1	2.8	2.6
	Belgium		-24.5%		40.9	30.6	21.8	16.9	13.8	8.3	6.3	4.6	3.9	3.4	3.0	2.8	2.5
	Canada		-30.4%		43.8	32.7	23.3	18.1	14.8	8.9	6.7	5.0	4.2	3.6	3.2	2.9	2.7
	Denmark		-35.2%		42.2	31.6	22.5	17.4	14.3	8.6	6.5	4.8	4.0	3.5	3.1	2.8	2.6
	Finland		-35.2%		42.2	31.6	22.5	17.4	14.3	8.6	6.5	4.8	4.0	3.5	3.1	2.8	2.6
	France		-32.6%		43.2	32.3	23.0	17.8	14.6	8.8	6.6	4.9	4.1	3.6	3.1	2.9	2.7
	Germany		-32.9%		45.9	35.7	25.8	19.7	15.9	9.1	6.7	4.8	4.0	3.4	2.9	2.7	2.4
	Greece		-38.3%		47.3	35.4	25.2	19.5	16.0	9.6	7.3	5.3	4.5	3.9	3.4	3.2	2.9
	Ireland		-35.2%		42.2	31.6	22.5	17.4	14.3	8.6	6.5	4.8	4.0	3.5	3.1	2.8	2.6
	Italy		-35.2%		42.2	31.6	22.5	17.4	14.3	8.6	6.5	4.8	4.0	3.5	3.1	2.8	2.6
	Japan		-32.2%		48.9	31.1	19.2	13.7	10.7	6.1	4.6	3.3	2.8	2.4	2.1	1.9	1.8
	Netherlands		-33.4%		41.7	31.2	22.2	17.2	14.1	8.5	6.4	4.7	4.0	3.4	3.0	2.8	2.6
	New Zealand		-30.4%		43.8	32.7	23.3	18.1	14.8	8.9	6.7	5.0	4.2	3.6	3.2	2.9	2.7
	Norway		-35.2%		42.2	31.6	22.5	17.4	14.3	8.6	6.5	4.8	4.0	3.5	3.1	2.8	2.6
	Portugal		-35.2%		42.2	31.6	22.5	17.4	14.3	8.6	6.5	4.8	4.0	3.5	3.1	2.8	2.6
	Spain		-32.9%		42.7	31.9	22.7	17.6	14.4	8.7	6.6	4.8	4.1	3.5	3.1	2.9	2.7
	Sweden		-33.2%		43.2	32.3	23.0	17.8	14.6	8.8	6.6	4.9	4.1	3.6	3.1	2.9	2.7
	Switzerland		-35.2%		42.2	31.6	22.5	17.4	14.3	8.6	6.5	4.8	4.0	3.5	3.1	2.8	2.6
	United Kingdom		-30.3%		40.6	30.2	21.2	15.9	12.7	7.3	5.4	3.9	3.2	2.8	2.4	2.2	2.0
	United States		-26.3%		37.1	32.0	26.5	22.3	19.1	11.7	8.5	5.8	4.7	3.8	3.2	2.8	2.5
	Euro Stoxx 50 Index		-35.2%		42.2	31.6	22.5	17.4	14.3	8.6	6.5	4.8	4.0	3.5	3.1	2.8	2.6
	Stoxx Europe 600 Index		-31.2%		44.2	33.0	23.5	18.2	14.9	9.0	6.8	5.0	4.2	3.7	3.2	3.0	2.8
	Other Cross-Country Indices		-31.2%		44.2	33.0	23.5	18.2	14.9	9.0	6.8	5.0	4.2	3.7	3.2	3.0	2.8
	Other Advanced Economies		-26.3%		37.1	32.0	26.5	22.3	19.1	11.7	8.5	5.8	4.7	3.8	3.2	2.8	2.5
	Bulgaria		-39.5%		51.8	38.7	27.6	21.4	17.5	10.6	8.0	5.9	5.0	4.3	3.8	3.5	3.2
	Czech Republic		-39.5%		51.8	38.7	27.6	21.4	17.5	10.6	8.0	5.9	5.0	4.3	3.8	3.5	3.2
	Hungary		-39.5%		51.8	38.7	27.6	21.4	17.5	10.6	8.0	5.9	5.0	4.3	3.8	3.5	3.2
	Poland		-39.5%		51.8	38.7	27.6	21.4	17.5	10.6	8.0	5.9	5.0	4.3	3.8	3.5	3.2
	Russia		-47.9%		58.4	36.0	22.9	17.1	14.1	9.7	8.3	7.1	6.6	6.2	6.0	5.8	5.7
	Ukraine		-47.9%		58.4	36.0	22.9	17.1	14.1	9.7	8.3	7.1	6.6	6.2	6.0	5.8	5.7
	MSCI EM Eastern Europe		-39.5%		51.8	38.7	27.6	21.4	17.5	10.6	8.0	5.9	5.0	4.3	3.8	3.5	3.2
	Other Cross-Country Indices		-39.5%		51.8	38.7	27.6	21.4	17.5	10.6	8.0	5.9	5.0	4.3	3.8	3.5	3.2
	Other Emerging Europe		-39.5%		51.8	38.7	27.6	21.4	17.5	10.6	8.0	5.9	5.0	4.3	3.8	3.5	3.2
	Argentina		-47.9%		58.4	36.0	22.9	17.1	14.1	9.7	8.3	7.1	6.6	6.2	6.0	5.8	5.7
	Brazil		-47.9%		58.4	36.0	22.9	17.1	14.1	9.7	8.3	7.1	6.6	6.2	6.0	5.8	5.7
	Chile		-47.9%		58.4	36.0	22.9	17.1	14.1	9.7	8.3	7.1	6.6	6.2	6.0	5.8	5.7
	Mexico		-47.9%		58.4	36.0	22.9	17.1	14.1	9.7	8.3	7.1	6.6	6.2	6.0	5.8	5.7
	MSCI EM Latin America Index		-47.9%		58.4	36.0	22.9	17.1	14.1	9.7	8.3	7.1	6.6	6.2	6.0	5.8	5.7
	Other Cross-Country Indices		-47.9%		58.4	36.0	22.9	17.1	14.1	9.7	8.3	7.1	6.6	6.2	6.0	5.8	5.7
	Other Latam & Caribbean		-47.9%		58.4	36.0	22.9	17.1	14.1	9.7	8.3	7.1	6.6	6.2	6.0	5.8	5.7
	China		-35.4%		56.6	42.3	30.1	23.3	19.1	11.5	8.7	6.4	5.4	4.7	4.1	3.8	3.5
	Hong Kong		-35.4%		56.6	42.3	30.1	23.3	19.1	11.5	8.7	6.4	5.4	4.7	4.1	3.8	3.5
	India		-35.4%		56.6	42.3	30.1	23.3	19.1	11.5	8.7	6.4	5.4	4.7	4.1	3.8	3.5
	Indonesia		-35.4%		56.6	42.3	30.1	23.3	19.1	11.5	8.7	6.4	5.4	4.7	4.1	3.8	3.5
	Malaysia		-35.4%		56.6	42.3	30.1	23.3	19.1	11.5	8.7	6.4	5.4	4.7	4.1	3.8	3.5
	Philippines		-35.4%		56.6	42.3	30.1	23.3	19.1	11.5	8.7	6.4	5.4	4.7	4.1	3.8	3.5
	Singapore		-35.4%		56.6	42.3	30.1	23.3	19.1	11.5	8.7	6.4	5.4	4.7	4.1	3.8	3.5
	South Korea		-35.4%		56.6	42.3	30.1	23.3	19.1	11.5	8.7	6.4	5.4	4.7	4.1	3.8	3.5
	Taiwan		-35.4%		56.6	42.3	30.1	23.3	19.1	11.5	8.7	6.4	5.4	4.7	4.1	3.8	3.5
	MSCI EM Asia Index		-35.4%		56.6	42.3	30.1	23.3	19.1	11.5	8.7	6.4	5.4	4.7	4.1	3.8	3.5
	Other Cross-Country Indices		-35.4%		56.6	42.3	30.1	23.3	19.1	11.5	8.7	6.4	5.4	4.7	4.1	3.8	3.5
	Other Asia Ex-Japan		-35.4%		56.6	42.3	30.1	23.3	19.1	11.5	8.7	6.4	5.4	4.7	4.1	3.8	3.5
	Israel		-36.1%		56.5	42.2	30.1	23.3	19.1	11.5	8.7	6.4	5.4	4.7	4.1	3.8	3.5
	Turkey		-36.1%		56.5	42.2	30.1	23.3	19.1	11.5	8.7	6.4	5.4	4.7	4.1	3.8	3.5
	Other Cross-Country Indices		-36.1%		56.5	42.2	30.1	23.3	19.1	11.5	8.7	6.4	5.4	4.7	4.1	3.8	3.5
	Other Middle East/N. Africa		-36.1%		56.5	42.2	30.1	23.3	19.1	11.5	8.7	6.4	5.4	4.7	4.1	3.8	3.5
	South Africa		-25.4%		36.1	26.9	19.2	14.9	12.2	7.4	5.5	4.1	3.4	3.0	2.6	2.4	2.2
	Other Cross-Country Indices		-25.4%		36.1	26.9	19.2	14.9	12.2	7.4	5.5	4.1	3.4	3.0	2.6	2.4	2.2
	Other Sub-Saharan Africa		-25.4%		36.1	26.9	19.2	14.9	12.2	7.4	5.5	4.1	3.4	3.0	2.6	2.4	2.2
	MSCI All Country World Index (ACWI)		-30.4%		43.8	32.7	23.3	18.1	14.8	8.9	6.7	5.0	4.2	3.6	3.2	2.9	2.7
	MSCI EAFE Index		-34.7%		47.2	35.2	25.1	19.5	15.9	9.6	7.2	5.3	4.5	3.9	3.4	3.2	2.9
	MSCI EM Index		-38.3%		47.3	35.4	25.2	19.5	16.0	9.6	7.3	5.3	4.5	3.9	3.4	3.2	2.9
	MSCI EMEA Index		-36.1%		56.5	42.2	30.1	23.3	19.1	11.5	8.7	6.4	5.4	4.7	4.1	3.8	3.5
	MSCI World Index		-30.4%		43.8	32.7	23.3	18.1	14.8	8.9	6.7	5.0	4.2	3.6	3.2	2.9	2.7
	Other Cross-Country Indices		-30.4%		43.8	32.7	23.3	18.1	14.8	8.9	6.7	5.0	4.2	3.6	3.2	2.9	2.7

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Sheet 3: Dividends

2023 GMS Component: Severely Adverse Scenario
Other Equity
	Relative Dividend Shocks (%)
	Region	1Y	2Y	3Y	5Y	7Y	10Y	Unspecified Tenor
	US	-21.0%	-21.0%	-19.0%	-16.0%	-14.0%	-10.0%	-21.0%
	Europe	-25.8%	-25.8%	-23.0%	-18.5%	-15.0%	-11.5%	-25.8%
	Japan	-19.5%	-19.5%	-18.5%	-14.0%	-12.0%	-8.0%	-19.5%
	Other / Unspecified	-21.0%	-21.0%	-19.0%	-16.0%	-14.0%	-10.0%	-21.0%

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Sheet 4: FX Spot

2023 GMS Component: Severely Adverse Scenario
FX Spot Sensitivities
				% Change in Spot Price Defined as Currency1 vs. Currency2
	Currency 1	Currency 2
	AED	AUD		-6.5%
	AED	CHF		-6.3%
	AED	DKK		-6.0%
	AED	EUR		-6.0%
	AED	GBP		-4.6%
	AED	JPY		-9.3%
	AED	NOK		-6.0%
	AED	SEK		-2.5%
	AED	USD		0.0%
	ALL	USD		-7.3%
	AMD	USD		-18.5%
	ANG	USD		0.0%
	AOA	EUR		-13.6%
	AOA	GBP		-12.3%
	AOA	USD		-8.1%
	ARS	AUD		-22.2%
	ARS	CHF		-22.0%
	ARS	DKK		-21.8%
	ARS	EUR		-21.8%
	ARS	GBP		-20.6%
	ARS	JPY		-24.6%
	ARS	NOK		-21.8%
	ARS	SEK		-18.9%
	ARS	USD		-16.8%
	AUD	BBD		7.0%
	AUD	BDT		15.4%
	AUD	BGN		0.6%
	AUD	BHD		7.0%
	AUD	BMD		7.0%
	AUD	BRL		23.6%
	AUD	BSD		7.0%
	AUD	BWP		16.4%
	AUD	CAD		2.1%
	AUD	CHF		0.3%
	AUD	CLP		14.0%
	AUD	CNY		4.9%
	AUD	COP		15.4%
	AUD	CYP		0.6%
	AUD	CZK		15.4%
	AUD	DJF		7.0%
	AUD	DKK		0.6%
	AUD	DOP		15.2%
	AUD	DZD		16.4%
	AUD	EGP		16.4%
	AUD	EUR		0.6%
	AUD	FJD		15.4%
	AUD	GBP		2.1%
	AUD	GEL		31.3%
	AUD	HKD		7.0%
	AUD	HRK		0.6%
	AUD	HUF		15.4%
	AUD	IDR		8.5%
	AUD	ILS		15.4%
	AUD	INR		9.5%
	AUD	IRR		15.4%
	AUD	ISK		15.4%
	AUD	JMD		15.2%
	AUD	JOD		7.0%
	AUD	JPY		-3.0%
	AUD	KES		16.4%
	AUD	KGS		31.3%
	AUD	KHR		16.4%
	AUD	KRW		7.6%
	AUD	KWD		15.4%
	AUD	KZT		31.3%
	AUD	LAK		7.0%
	AUD	LBP		7.0%
	AUD	LKR		15.4%
	AUD	LVL		0.6%
	AUD	MAD		16.4%
	AUD	MMK		15.4%
	AUD	MOP		7.0%
	AUD	MRO		16.4%
	AUD	MTL		0.6%
	AUD	MUR		16.4%
	AUD	MVR		7.0%
	AUD	MWK		16.4%
	AUD	MXN		12.9%
	AUD	MYR		7.5%
	AUD	MZM		16.4%
	AUD	NGN		16.4%
	AUD	NOK		0.6%
	AUD	NPR		9.5%
	AUD	NZD		6.8%
	AUD	OMR		7.0%
	AUD	PEN		10.8%
	AUD	PGK		7.0%
	AUD	PHP		8.2%
	AUD	PKR		15.4%
	AUD	PLN		15.4%
	AUD	PYG		15.2%
	AUD	QAR		7.0%
	AUD	RON		15.4%
	AUD	RSD		15.4%
	AUD	RUB		31.3%
	AUD	RWF		16.4%
	AUD	SAR		7.0%
	AUD	SBD		15.4%
	AUD	SEK		4.3%
	AUD	SGD		5.7%
	AUD	SKK		0.6%
	AUD	THB		15.4%
	AUD	TJS		31.3%
	AUD	TND		16.4%
	AUD	TOP		8.2%
	AUD	TRY		14.0%
	AUD	TTD		15.2%
	AUD	TWD		7.8%
	AUD	UAH		31.3%
	AUD	USD		7.0%
	AUD	UZS		31.4%
	AUD	VEF		7.0%
	AUD	VND		7.0%
	AUD	VUV		6.7%
	AUD	WST		6.7%
	AUD	XAF		0.6%
	AUD	XCD		7.0%
	AUD	XPF		0.6%
	AUD	ZAR		16.4%
	AWG	EUR		-6.0%
	AWG	GBP		-4.6%
	AWG	USD		0.0%
	AZN	USD		-18.5%
	BAM	EUR		0.0%
	BAM	GBP		1.5%
	BAM	USD		6.4%
	BBD	EUR		-6.0%
	BBD	GBP		-4.6%
	BBD	JPY		-9.3%
	BBD	USD		0.0%
	BDT	CHF		-13.1%
	BDT	DKK		-12.9%
	BDT	EUR		-12.9%
	BDT	GBP		-11.5%
	BDT	JPY		-16.0%
	BDT	NOK		-12.9%
	BDT	USD		-7.3%
	BGN	CHF		-0.3%
	BGN	DKK		0.0%
	BGN	EUR		0.0%
	BGN	GBP		1.5%
	BGN	JPY		-3.5%
	BGN	NOK		0.0%
	BGN	SEK		3.7%
	BGN	USD		6.4%
	BHD	CHF		-6.3%
	BHD	EUR		-6.0%
	BHD	GBP		-4.6%
	BHD	JPY		-9.3%
	BHD	USD		0.0%
	BIF	EUR		-13.6%
	BIF	GBP		-12.3%
	BIF	USD		-8.1%
	BMD	CHF		-6.3%
	BMD	EUR		-6.0%
	BMD	GBP		-4.6%
	BMD	JPY		-9.3%
	BMD	USD		0.0%
	BND	USD		-7.3%
	BRL	CAD		-17.4%
	BRL	CHF		-18.8%
	BRL	CNY		-15.1%
	BRL	DKK		-18.6%
	BRL	EUR		-18.6%
	BRL	GBP		-17.4%
	BRL	HUF		-6.6%
	BRL	IDR		-12.2%
	BRL	INR		-11.4%
	BRL	JPY		-21.5%
	BRL	KRW		-12.9%
	BRL	MXN		-8.6%
	BRL	MYR		-13.0%
	BRL	NOK		-18.6%
	BRL	PLN		-6.6%
	BRL	RUB		6.3%
	BRL	SEK		-15.6%
	BRL	TRY		-7.8%
	BRL	TWD		-12.8%
	BRL	USD		-13.4%
	BRL	ZAR		-5.8%
	BSD	EUR		-6.0%
	BSD	GBP		-4.6%
	BSD	JPY		-9.3%
	BSD	USD		0.0%
	BWP	CHF		-13.9%
	BWP	DKK		-13.6%
	BWP	EUR		-13.6%
	BWP	GBP		-12.3%
	BWP	JPY		-16.7%
	BWP	NOK		-13.6%
	BWP	SEK		-10.4%
	BWP	USD		-8.1%
	BYR	EUR		-23.4%
	BYR	GBP		-22.2%
	BYR	USD		-18.5%
	BZD	EUR		-6.0%
	BZD	GBP		-4.6%
	BZD	USD		0.0%
	CAD	CHF		-1.8%
	CAD	CNY		2.7%
	CAD	DKK		-1.5%
	CAD	EUR		-1.5%
	CAD	GBP		0.0%
	CAD	IDR		6.3%
	CAD	ILS		13.1%
	CAD	INR		7.3%
	CAD	JPY		-5.0%
	CAD	KRW		5.4%
	CAD	MXN		10.5%
	CAD	NOK		-1.5%
	CAD	NZD		4.6%
	CAD	PLN		13.1%
	CAD	RUB		28.6%
	CAD	SEK		2.1%
	CAD	SGD		3.6%
	CAD	USD		4.8%
	CAD	ZAR		14.0%
	CHF	CLP		13.6%
	CHF	CNY		4.6%
	CHF	COP		15.1%
	CHF	CRC		14.9%
	CHF	CYP		0.3%
	CHF	CZK		15.1%
	CHF	DKK		0.3%
	CHF	DOP		14.9%
	CHF	DZD		16.1%
	CHF	ECS		6.7%
	CHF	EEK		0.3%
	CHF	EGP		16.1%
	CHF	EUR		0.3%
	CHF	GBP		1.8%
	CHF	GEL		30.9%
	CHF	HKD		6.7%
	CHF	HRK		0.3%
	CHF	HUF		15.1%
	CHF	IDR		8.2%
	CHF	ILS		15.1%
	CHF	INR		9.2%
	CHF	IRR		15.1%
	CHF	ISK		15.1%
	CHF	JMD		14.9%
	CHF	JOD		6.7%
	CHF	JPY		-3.3%
	CHF	KES		16.1%
	CHF	KGS		30.9%
	CHF	KHR		16.1%
	CHF	KRW		7.3%
	CHF	KWD		15.1%
	CHF	LBP		6.7%
	CHF	LKR		15.1%
	CHF	LTL		0.3%
	CHF	LVL		0.3%
	CHF	MAD		16.1%
	CHF	MRO		16.1%
	CHF	MTL		0.3%
	CHF	MWK		16.1%
	CHF	MXN		12.6%
	CHF	MYR		7.2%
	CHF	NGN		16.1%
	CHF	NOK		0.3%
	CHF	NPR		9.2%
	CHF	NZD		6.5%
	CHF	OMR		6.7%
	CHF	PEN		10.5%
	CHF	PGK		6.7%
	CHF	PHP		7.9%
	CHF	PKR		15.1%
	CHF	PLN		15.1%
	CHF	QAR		6.7%
	CHF	RON		15.1%
	CHF	RSD		15.1%
	CHF	RUB		30.9%
	CHF	SAR		6.7%
	CHF	SEK		4.0%
	CHF	SGD		5.4%
	CHF	SKK		0.3%
	CHF	SYP		5.4%
	CHF	THB		15.1%
	CHF	TND		16.1%
	CHF	TRY		13.6%
	CHF	TWD		7.5%
	CHF	UAH		30.9%
	CHF	USD		6.7%
	CHF	VEF		6.7%
	CHF	VND		6.7%
	CHF	XAF		0.3%
	CHF	YER		5.4%
	CHF	ZAR		16.1%
	CHF	ZMK		16.1%
	CLP	DKK		-11.7%
	CLP	EUR		-11.7%
	CLP	GBP		-10.4%
	CLP	JPY		-14.9%
	CLP	KRW		-5.5%
	CLP	NOK		-11.7%
	CLP	PHP		-5.1%
	CLP	SEK		-8.5%
	CLP	USD		-6.1%
	CNY	DKK		-4.1%
	CNY	EUR		-4.1%
	CNY	GBP		-2.7%
	CNY	HUF		10.0%
	CNY	IDR		3.4%
	CNY	INR		4.4%
	CNY	JPY		-7.5%
	CNY	KRW		2.6%
	CNY	MXN		7.6%
	CNY	MYR		2.5%
	CNY	NOK		-4.1%
	CNY	NZD		1.8%
	CNY	PHP		3.1%
	CNY	PLN		10.0%
	CNY	RUB		25.2%
	CNY	SEK		-0.6%
	CNY	SGD		0.8%
	CNY	TRY		8.6%
	CNY	TWD		2.7%
	CNY	USD		2.0%
	COP	DKK		-12.9%
	COP	EUR		-12.9%
	COP	GBP		-11.5%
	COP	JPY		-16.0%
	COP	NOK		-12.9%
	COP	SEK		-9.6%
	COP	USD		-7.3%
	CRC	EUR		-12.7%
	CRC	GBP		-11.4%
	CRC	JPY		-15.8%
	CRC	USD		-7.1%
	CSD	USD		-7.3%
	CUP	EUR		-6.0%
	CUP	GBP		-4.6%
	CUP	USD		0.0%
	CVE	EUR		0.0%
	CVE	GBP		1.5%
	CVE	USD		6.4%
	CYP	DKK		0.0%
	CYP	EUR		0.0%
	CYP	GBP		1.5%
	CYP	JPY		-3.5%
	CYP	SEK		3.7%
	CYP	USD		6.4%
	CZK	DKK		-12.9%
	CZK	EUR		-12.9%
	CZK	GBP		-11.5%
	CZK	JPY		-16.0%
	CZK	NOK		-12.9%
	CZK	SEK		-9.6%
	CZK	USD		-7.3%
	DEM	USD		6.4%
	DJF	EUR		-6.0%
	DJF	GBP		-4.6%
	DJF	USD		0.0%
	DKK	DZD		15.8%
	DKK	ECS		6.4%
	DKK	EEK		0.0%
	DKK	EGP		15.8%
	DKK	EUR		0.0%
	DKK	GBP		1.5%
	DKK	GEL		30.6%
	DKK	HKD		6.4%
	DKK	HRK		0.0%
	DKK	HUF		14.8%
	DKK	IDR		7.9%
	DKK	ILS		14.8%
	DKK	INR		8.9%
	DKK	IQD		6.4%
	DKK	ISK		14.8%
	DKK	JMD		14.5%
	DKK	JOD		6.4%
	DKK	JPY		-3.5%
	DKK	KES		15.8%
	DKK	KHR		15.8%
	DKK	KRW		7.0%
	DKK	KWD		14.8%
	DKK	KZT		30.6%
	DKK	LAK		6.4%
	DKK	LBP		6.4%
	DKK	LKR		14.8%
	DKK	LTL		0.0%
	DKK	LVL		0.0%
	DKK	MAD		15.8%
	DKK	MMK		14.8%
	DKK	MTL		0.0%
	DKK	MXN		12.2%
	DKK	MYR		6.9%
	DKK	NGN		15.8%
	DKK	NOK		0.0%
	DKK	NPR		8.9%
	DKK	NZD		6.2%
	DKK	PEN		10.1%
	DKK	PGK		6.4%
	DKK	PHP		7.6%
	DKK	PKR		14.8%
	DKK	PLN		14.8%
	DKK	QAR		6.4%
	DKK	RON		14.8%
	DKK	RSD		14.8%
	DKK	RUB		30.6%
	DKK	SAR		6.4%
	DKK	SEK		3.7%
	DKK	SGD		5.1%
	DKK	SKK		0.0%
	DKK	SYP		5.1%
	DKK	THB		14.8%
	DKK	TND		15.8%
	DKK	TRY		13.3%
	DKK	TWD		7.2%
	DKK	UAH		30.6%
	DKK	UGX		15.8%
	DKK	USD		6.4%
	DKK	VEF		6.4%
	DKK	VND		6.4%
	DKK	XAF		0.0%
	DKK	ZAR		15.8%
	DOP	EUR		-12.7%
	DOP	GBP		-11.4%
	DOP	JPY		-15.8%
	DOP	USD		-7.1%
	DZD	EUR		-13.6%
	DZD	GBP		-12.3%
	DZD	JPY		-16.7%
	DZD	USD		-8.1%
	ECS	EUR		-6.0%
	ECS	GBP		-4.6%
	ECS	USD		0.0%
	ECU	USD		6.4%
	EEK	EUR		0.0%
	EEK	GBP		1.5%
	EEK	JPY		-3.5%
	EEK	NOK		0.0%
	EEK	SEK		3.7%
	EEK	USD		6.4%
	EGP	EUR		-13.6%
	EGP	GBP		-12.3%
	EGP	JPY		-16.7%
	EGP	NOK		-13.6%
	EGP	SEK		-10.4%
	EGP	USD		-8.1%
	ERN	EUR		-6.0%
	ERN	USD		0.0%
	ETB	EUR		-13.6%
	ETB	GBP		-12.3%
	ETB	JPY		-16.7%
	ETB	USD		-8.1%
	EUR	FJD		14.8%
	EUR	GBP		1.5%
	EUR	GEL		30.6%
	EUR	GMD		15.8%
	EUR	GNF		15.8%
	EUR	GTQ		14.5%
	EUR	GYD		14.5%
	EUR	HKD		6.4%
	EUR	HNL		14.5%
	EUR	HRK		0.0%
	EUR	HTG		14.5%
	EUR	HUF		14.8%
	EUR	IDR		7.9%
	EUR	ILS		14.8%
	EUR	INR		8.9%
	EUR	IQD		6.4%
	EUR	IRR		14.8%
	EUR	ISK		14.8%
	EUR	JMD		14.5%
	EUR	JOD		6.4%
	EUR	JPY		-3.5%
	EUR	KES		15.8%
	EUR	KGS		30.6%
	EUR	KHR		15.8%
	EUR	KMF		0.0%
	EUR	KRW		7.0%
	EUR	KWD		14.8%
	EUR	KZT		30.6%
	EUR	LAK		6.4%
	EUR	LBP		6.4%
	EUR	LKR		14.8%
	EUR	LRD		15.8%
	EUR	LTL		0.0%
	EUR	LVL		0.0%
	EUR	LYD		15.8%
	EUR	MAD		15.8%
	EUR	MDL		14.8%
	EUR	MGA		15.8%
	EUR	MMK		14.8%
	EUR	MNT		14.8%
	EUR	MOP		6.4%
	EUR	MRO		15.8%
	EUR	MTL		0.0%
	EUR	MUR		15.8%
	EUR	MVR		6.4%
	EUR	MWK		15.8%
	EUR	MXN		12.2%
	EUR	MYR		6.9%
	EUR	MZM		15.8%
	EUR	NGN		15.8%
	EUR	NIO		8.9%
	EUR	NOK		0.0%
	EUR	NPR		8.9%
	EUR	NZD		6.2%
	EUR	OMR		6.4%
	EUR	PAB		6.4%
	EUR	PEN		10.1%
	EUR	PGK		6.4%
	EUR	PHP		7.6%
	EUR	PKR		14.8%
	EUR	PLN		14.8%
	EUR	PYG		14.5%
	EUR	QAR		6.4%
	EUR	RON		14.8%
	EUR	RSD		14.8%
	EUR	RUB		30.6%
	EUR	RWF		15.8%
	EUR	SAR		6.4%
	EUR	SBD		14.8%
	EUR	SCR		15.8%
	EUR	SDD		15.8%
	EUR	SEK		3.7%
	EUR	SGD		5.1%
	EUR	SIT		0.0%
	EUR	SKK		0.0%
	EUR	SLL		15.8%
	EUR	SOS		30.6%
	EUR	SRD		14.5%
	EUR	STD		30.6%
	EUR	SVC		6.4%
	EUR	SYP		5.1%
	EUR	THB		14.8%
	EUR	TJS		30.6%
	EUR	TND		15.8%
	EUR	TOP		7.6%
	EUR	TRY		13.3%
	EUR	TTD		14.5%
	EUR	TWD		7.2%
	EUR	UAH		30.6%
	EUR	UGX		15.8%
	EUR	USD		6.4%
	EUR	UZS		30.7%
	EUR	VEF		6.4%
	EUR	VND		6.4%
	EUR	VUV		6.1%
	EUR	WST		6.1%
	EUR	XAF		0.0%
	EUR	XCD		6.4%
	EUR	XOF		0.0%
	EUR	XPF		0.0%
	EUR	YER		5.1%
	EUR	ZAR		15.8%
	EUR	ZMK		15.8%
	FJD	GBP		-11.5%
	FJD	JPY		-16.0%
	FJD	USD		-7.3%
	FKP	USD		4.8%
	FRF	USD		6.4%
	GBP	GEL		28.6%
	GBP	GMD		14.0%
	GBP	GNF		14.0%
	GBP	GTQ		12.8%
	GBP	GYD		12.8%
	GBP	HKD		4.8%
	GBP	HNL		12.8%
	GBP	HRK		-1.5%
	GBP	HTG		12.8%
	GBP	HUF		13.1%
	GBP	IDR		6.3%
	GBP	ILS		13.1%
	GBP	INR		7.3%
	GBP	IQD		4.8%
	GBP	IRR		13.1%
	GBP	ISK		13.1%
	GBP	JMD		12.8%
	GBP	JOD		4.8%
	GBP	JPY		-5.0%
	GBP	KES		14.0%
	GBP	KGS		28.6%
	GBP	KHR		14.0%
	GBP	KMF		-1.5%
	GBP	KRW		5.4%
	GBP	KWD		13.1%
	GBP	KZT		28.6%
	GBP	LBP		4.8%
	GBP	LKR		13.1%
	GBP	LRD		14.0%
	GBP	LTL		-1.5%
	GBP	LVL		-1.5%
	GBP	LYD		14.0%
	GBP	MAD		14.0%
	GBP	MDL		13.1%
	GBP	MGA		14.0%
	GBP	MMK		13.1%
	GBP	MNT		13.1%
	GBP	MOP		4.8%
	GBP	MRO		14.0%
	GBP	MTL		-1.5%
	GBP	MUR		14.0%
	GBP	MVR		4.8%
	GBP	MWK		14.0%
	GBP	MXN		10.5%
	GBP	MYR		5.3%
	GBP	MZM		14.0%
	GBP	NGN		14.0%
	GBP	NIO		7.3%
	GBP	NOK		-1.5%
	GBP	NPR		7.3%
	GBP	NZD		4.6%
	GBP	OMR		4.8%
	GBP	PEN		8.5%
	GBP	PGK		4.8%
	GBP	PHP		6.0%
	GBP	PKR		13.1%
	GBP	PLN		13.1%
	GBP	PYG		12.8%
	GBP	QAR		4.8%
	GBP	RON		13.1%
	GBP	RSD		13.1%
	GBP	RUB		28.6%
	GBP	RWF		14.0%
	GBP	SAR		4.8%
	GBP	SBD		13.1%
	GBP	SCR		14.0%
	GBP	SDD		14.0%
	GBP	SEK		2.1%
	GBP	SGD		3.6%
	GBP	SIT		-1.5%
	GBP	SKK		-1.5%
	GBP	SLL		14.0%
	GBP	SOS		28.6%
	GBP	SRD		12.8%
	GBP	SVC		4.8%
	GBP	SYP		3.6%
	GBP	THB		13.1%
	GBP	TJS		28.6%
	GBP	TND		14.0%
	GBP	TOP		6.0%
	GBP	TRY		11.6%
	GBP	TTD		12.8%
	GBP	TWD		5.5%
	GBP	UAH		28.6%
	GBP	UGX		14.0%
	GBP	USD		4.8%
	GBP	UZS		28.7%
	GBP	VEF		4.8%
	GBP	VND		4.8%
	GBP	VUV		4.5%
	GBP	WST		4.5%
	GBP	XAF		-1.5%
	GBP	XCD		4.8%
	GBP	XOF		-1.5%
	GBP	XPF		-1.5%
	GBP	YER		3.5%
	GBP	ZAR		14.0%
	GBP	ZMK		14.0%
	GEL	JPY		-26.1%
	GEL	NOK		-23.4%
	GEL	SEK		-20.6%
	GEL	USD		-18.5%
	GHC	USD		-8.1%
	GHS	USD		-8.1%
	GMD	JPY		-16.7%
	GMD	USD		-8.1%
	GNF	USD		-8.1%
	GTQ	USD		-7.1%
	GWP	USD		6.4%
	GYD	USD		-7.1%
	HKD	IDR		1.4%
	HKD	JPY		-9.3%
	HKD	MYR		0.5%
	HKD	NOK		-6.0%
	HKD	PHP		1.1%
	HKD	SEK		-2.5%
	HKD	SGD		-1.2%
	HKD	TWD		0.7%
	HKD	USD		0.0%
	HNL	JPY		-15.8%
	HNL	USD		-7.1%
	HRK	JPY		-3.5%
	HRK	NOK		0.0%
	HRK	SEK		3.7%
	HRK	USD		6.4%
	HTG	USD		-7.1%
	HUF	INR		-5.1%
	HUF	JPY		-16.0%
	HUF	MXN		-2.2%
	HUF	NOK		-12.9%
	HUF	SEK		-9.6%
	HUF	TRY		-1.3%
	HUF	USD		-7.3%
	IDR	INR		0.9%
	IDR	JPY		-10.6%
	IDR	KRW		-0.8%
	IDR	MXN		4.0%
	IDR	MYR		-0.9%
	IDR	NOK		-7.3%
	IDR	PHP		-0.3%
	IDR	RUB		21.0%
	IDR	SEK		-3.9%
	IDR	SGD		-2.6%
	IDR	TRY		5.0%
	IDR	TWD		-0.7%
	IDR	USD		-1.4%
	ILS	JPY		-16.0%
	ILS	KRW		-6.7%
	ILS	NOK		-12.9%
	ILS	SEK		-9.6%
	ILS	USD		-7.3%
	INR	JPY		-11.4%
	INR	KRW		-1.7%
	INR	MXN		3.1%
	INR	MYR		-1.8%
	INR	NOK		-8.2%
	INR	PHP		-1.2%
	INR	PLN		5.4%
	INR	RUB		19.9%
	INR	SEK		-4.8%
	INR	SGD		-3.5%
	INR	TRY		4.0%
	INR	TWD		-1.6%
	INR	USD		-2.3%
	INR	ZAR		6.3%
	IQD	USD		0.0%
	IRR	JPY		-16.0%
	IRR	USD		-7.3%
	ISK	JPY		-16.0%
	ISK	NOK		-12.9%
	ISK	SEK		-9.6%
	ISK	USD		-7.3%
	ITL	USD		6.4%
	JMD	JPY		-15.8%
	JMD	NOK		-12.7%
	JMD	SEK		-9.5%
	JMD	USD		-7.1%
	JOD	JPY		-9.3%
	JOD	NOK		-6.0%
	JOD	SEK		-2.5%
	JOD	USD		0.0%
	JPY	KES		20.0%
	JPY	KHR		20.0%
	JPY	KRW		11.0%
	JPY	KWD		19.0%
	JPY	KZT		35.3%
	JPY	LAK		10.3%
	JPY	LBP		10.3%
	JPY	LKR		19.0%
	JPY	LTL		3.7%
	JPY	LVL		3.7%
	JPY	LYD		20.0%
	JPY	MAD		20.0%
	JPY	MDL		19.0%
	JPY	MNT		19.0%
	JPY	MOP		10.3%
	JPY	MRO		20.0%
	JPY	MTL		3.7%
	JPY	MUR		20.0%
	JPY	MVR		10.3%
	JPY	MWK		20.0%
	JPY	MXN		16.4%
	JPY	MYR		10.9%
	JPY	NGN		20.0%
	JPY	NIO		12.9%
	JPY	NOK		3.7%
	JPY	NPR		12.9%
	JPY	NZD		10.1%
	JPY	OMR		10.3%
	JPY	PEN		14.2%
	JPY	PGK		10.3%
	JPY	PHP		11.5%
	JPY	PKR		19.0%
	JPY	PLN		19.0%
	JPY	PYG		18.7%
	JPY	QAR		10.3%
	JPY	RON		19.0%
	JPY	RSD		19.0%
	JPY	RUB		35.3%
	JPY	SAR		10.3%
	JPY	SBD		19.0%
	JPY	SEK		7.5%
	JPY	SGD		9.0%
	JPY	SKK		3.7%
	JPY	SLL		20.0%
	JPY	SYP		9.0%
	JPY	THB		19.0%
	JPY	TND		20.0%
	JPY	TOP		11.5%
	JPY	TRY		17.5%
	JPY	TTD		18.7%
	JPY	TWD		11.1%
	JPY	UAH		35.3%
	JPY	UGX		20.0%
	JPY	USD		10.3%
	JPY	UZS		35.4%
	JPY	VEF		10.3%
	JPY	VND		10.3%
	JPY	WST		10.0%
	JPY	XAF		3.7%
	JPY	XCD		10.3%
	JPY	XOF		3.7%
	JPY	XPF		3.7%
	JPY	YER		9.0%
	JPY	ZAR		20.0%
	JPY	ZMK		20.0%
	KES	NOK		-13.6%
	KES	SEK		-10.4%
	KES	USD		-8.1%
	KGS	USD		-18.5%
	KHR	SEK		-10.4%
	KHR	USD		-8.1%
	KMF	USD		6.4%
	KRW	MXN		4.9%
	KRW	MYR		-0.1%
	KRW	NOK		-6.6%
	KRW	PHP		0.5%
	KRW	PLN		7.2%
	KRW	RUB		22.0%
	KRW	SEK		-3.1%
	KRW	SGD		-1.8%
	KRW	TRY		5.9%
	KRW	TWD		0.1%
	KRW	USD		-0.6%
	KRW	ZAR		8.1%
	KWD	NOK		-12.9%
	KWD	SEK		-9.6%
	KWD	USD		-7.3%
	KZT	NOK		-23.4%
	KZT	SEK		-20.6%
	KZT	USD		-18.5%
	LAK	USD		0.0%
	LBP	NOK		-6.0%
	LBP	SEK		-2.5%
	LBP	USD		0.0%
	LKR	SEK		-9.6%
	LKR	USD		-7.3%
	LRD	USD		-8.1%
	LSL	USD		-8.1%
	LTL	NOK		0.0%
	LTL	SEK		3.7%
	LTL	USD		6.4%
	LVL	NOK		0.0%
	LVL	SEK		3.7%
	LVL	USD		6.4%
	LYD	USD		-8.1%
	MAD	NOK		-13.6%
	MAD	SEK		-10.4%
	MAD	USD		-8.1%
	MDL	USD		-7.3%
	MGA	USD		-8.1%
	MKD	USD		6.4%
	MMK	USD		-7.3%
	MNT	SEK		-9.6%
	MNT	USD		-7.3%
	MOP	USD		0.0%
	MRO	USD		-8.1%
	MTL	NOK		0.0%
	MTL	SEK		3.7%
	MTL	USD		6.4%
	MUR	USD		-8.1%
	MVR	USD		0.0%
	MWK	USD		-8.1%
	MXN	NOK		-10.9%
	MXN	NZD		-5.4%
	MXN	PLN		2.3%
	MXN	RUB		16.3%
	MXN	SEK		-7.6%
	MXN	TRY		1.0%
	MXN	USD		-5.2%
	MXN	ZAR		3.1%
	MYR	NOK		-6.5%
	MYR	PHP		0.6%
	MYR	RUB		22.1%
	MYR	SEK		-3.0%
	MYR	SGD		-1.7%
	MYR	TWD		0.2%
	MYR	USD		-0.5%
	MZM	USD		-8.1%
	MZN	USD		-8.1%
	NAD	USD		-8.1%
	NGN	NOK		-13.6%
	NGN	SEK		-10.4%
	NGN	USD		-8.1%
	NIO	USD		-2.3%
	NOK	NZD		6.2%
	NOK	PEN		10.1%
	NOK	PGK		6.4%
	NOK	PHP		7.6%
	NOK	PKR		14.8%
	NOK	PLN		14.8%
	NOK	QAR		6.4%
	NOK	RON		14.8%
	NOK	RSD		14.8%
	NOK	RUB		30.6%
	NOK	SAR		6.4%
	NOK	SEK		3.7%
	NOK	SGD		5.1%
	NOK	SKK		0.0%
	NOK	SYP		5.1%
	NOK	THB		14.8%
	NOK	TND		15.8%
	NOK	TRY		13.3%
	NOK	TWD		7.2%
	NOK	UAH		30.6%
	NOK	USD		6.4%
	NOK	VEF		6.4%
	NOK	VND		6.4%
	NOK	ZAR		15.8%
	NPR	SEK		-4.8%
	NPR	USD		-2.3%
	NZD	PLN		8.1%
	NZD	SEK		-2.3%
	NZD	USD		0.2%
	NZD	ZAR		9.0%
	OMR	USD		0.0%
	PAB	USD		0.0%
	PEN	SEK		-5.8%
	PEN	USD		-3.4%
	PGK	SEK		-2.5%
	PGK	USD		0.0%
	PHP	SEK		-3.6%
	PHP	SGD		-2.3%
	PHP	TWD		-0.4%
	PHP	USD		-1.1%
	PKR	SEK		-9.6%
	PKR	USD		-7.3%
	PLN	RUB		13.7%
	PLN	SEK		-9.6%
	PLN	USD		-7.3%
	PYG	USD		-7.1%
	QAR	SEK		-2.5%
	QAR	USD		0.0%
	ROL	USD		-7.3%
	RON	SEK		-9.6%
	RON	USD		-7.3%
	RSD	SEK		-9.6%
	RSD	USD		-7.3%
	RUB	SEK		-20.6%
	RUB	TRY		-13.2%
	RUB	USD		-18.5%
	RUB	ZAR		-11.3%
	RWF	USD		-8.1%
	SAR	SEK		-2.5%
	SAR	USD		0.0%
	SBD	USD		-7.3%
	SCR	USD		-8.1%
	SDD	USD		-8.1%
	SEK	SGD		1.4%
	SEK	SKK		-3.6%
	SEK	SYP		1.4%
	SEK	THB		10.7%
	SEK	TND		11.6%
	SEK	TRY		9.3%
	SEK	TTD		10.4%
	SEK	TWD		3.3%
	SEK	UAH		25.9%
	SEK	USD		2.6%
	SEK	VEF		2.6%
	SEK	VND		2.6%
	SEK	ZAR		11.6%
	SGD	TWD		1.9%
	SGD	USD		1.2%
	SIT	USD		6.4%
	SKK	USD		6.4%
	SLL	USD		-8.1%
	SRD	USD		-7.1%
	SVC	USD		0.0%
	SYP	USD		1.2%
	SZL	USD		-8.1%
	THB	USD		-7.3%
	TJS	USD		-18.5%
	TND	USD		-8.1%
	TOP	USD		-1.1%
	TRL	USD		-6.1%
	TRY	USD		-6.1%
	TRY	ZAR		2.2%
	TTD	USD		-7.1%
	TWD	USD		-0.7%
	TZS	USD		-8.1%
	UAH	USD		-18.5%
	UGX	USD		-8.1%
	USD	UYP		7.6%
	USD	UYU		7.6%
	USD	UZS		22.8%
	USD	VEB		0.0%
	USD	VEF		0.0%
	USD	VND		0.0%
	USD	VUV		-0.3%
	USD	WST		-0.3%
	USD	XAF		-6.0%
	USD	XCD		0.0%
	USD	XEU		-6.0%
	USD	XOF		-6.0%
	USD	XPF		-6.0%
	USD	YER		-1.2%
	USD	ZAR		8.8%
	USD	ZMK		8.8%
	OTHER	USD		-18.5%

---

Sheet 5: FX Vega

2023 GMS Component: Severely Adverse Scenario
FX Vega
	Absolute Vega Shock (Vol Pts)
	Currency 1	Currency 2	1M	3M	6M	9M	1Y	2Y	3Y	5Y	7Y	10Y	15Y	20Y	30Y
	AED	AUD	4.5	4.1	3.5	3.2	2.9	2.4	2.1	1.9	1.9	1.8	1.8	1.7	1.7
	AED	BRL	6.1	5.6	5.0	4.5	4.1	3.3	2.9	2.6	2.4	2.3	2.3	2.2	2.2
	AED	CLP	4.7	4.3	3.8	3.5	3.2	2.6	2.3	2.0	1.9	1.8	1.8	1.7	1.7
	AED	CNY	0.9	0.8	0.7	0.6	0.6	0.5	0.4	0.4	0.3	0.3	0.3	0.3	0.3
	AED	CZK	3.7	3.4	3.0	2.7	2.5	2.0	1.8	1.6	1.5	1.4	1.4	1.3	1.3
	AED	EGP	4.5	4.1	3.6	3.3	3.0	2.4	2.1	1.9	1.8	1.7	1.7	1.6	1.6
	AED	EUR	3.9	3.6	3.3	3.0	2.8	2.2	2.0	1.7	1.6	1.5	1.5	1.5	1.4
	AED	GBP	6.2	5.4	4.5	4.0	3.5	2.7	2.4	2.2	2.0	2.0	1.9	1.9	1.8
	AED	HKD	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
	AED	INR	1.7	1.6	1.4	1.3	1.2	0.9	0.8	0.7	0.7	0.7	0.6	0.6	0.6
	AED	KWD	0.6	0.5	0.5	0.4	0.4	0.3	0.3	0.2	0.2	0.2	0.2	0.2	0.2
	AED	MYR	0.8	0.7	0.6	0.6	0.5	0.4	0.4	0.3	0.3	0.3	0.3	0.3	0.3
	AED	NOK	4.6	4.2	3.7	3.3	3.1	2.5	2.2	1.9	1.8	1.7	1.7	1.7	1.6
	AED	SAR	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
	AED	SGD	1.8	1.7	1.5	1.3	1.2	1.0	0.9	0.8	0.7	0.7	0.7	0.7	0.6
	AED	TRY	3.0	2.8	2.5	2.2	2.0	1.6	1.5	1.3	1.2	1.2	1.1	1.1	1.1
	AED	TWD	1.8	1.6	1.5	1.3	1.2	1.0	0.9	0.8	0.7	0.7	0.7	0.7	0.6
	AED	USD	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
	ARS	AUD	6.5	5.9	5.2	4.7	4.3	3.5	3.1	2.8	2.7	2.6	2.5	2.4	2.4
	ARS	BRL	5.8	5.3	4.7	4.2	3.9	3.1	2.7	2.4	2.3	2.2	2.1	2.1	2.1
	ARS	CHF	6.4	5.9	5.3	4.8	4.4	3.5	3.1	2.7	2.5	2.4	2.3	2.3	2.2
	ARS	EUR	6.1	5.6	5.0	4.5	4.2	3.4	3.0	2.6	2.5	2.4	2.3	2.2	2.2
	ARS	GBP	7.6	6.8	5.8	5.2	4.7	3.7	3.3	2.9	2.8	2.6	2.6	2.5	2.5
	ARS	HUF	6.8	6.2	5.5	5.0	4.6	3.7	3.2	2.9	2.7	2.6	2.5	2.5	2.4
	ARS	IDR	4.8	4.4	3.9	3.5	3.2	2.6	2.3	2.0	1.9	1.8	1.8	1.7	1.7
	ARS	INR	5.1	4.6	4.1	3.7	3.4	2.7	2.4	2.1	2.0	1.9	1.9	1.8	1.8
	ARS	JPY	7.8	7.0	6.1	5.4	4.9	3.7	3.2	2.7	2.5	2.3	2.2	2.1	2.1
	ARS	MXN	4.4	4.0	3.5	3.2	2.9	2.4	2.1	1.9	1.8	1.7	1.6	1.6	1.6
	ARS	NOK	6.6	6.0	5.3	4.8	4.4	3.5	3.1	2.8	2.6	2.5	2.4	2.4	2.3
	ARS	NZD	6.3	5.7	5.1	4.6	4.2	3.4	3.0	2.7	2.5	2.4	2.3	2.3	2.2
	ARS	RUB	8.5	7.7	6.9	6.2	5.7	4.6	4.0	3.6	3.4	3.2	3.1	3.1	3.0
	ARS	TRY	5.2	4.7	4.2	3.8	3.5	2.8	2.4	2.2	2.1	2.0	1.9	1.9	1.8
	ARS	TWD	5.1	4.6	4.1	3.7	3.4	2.7	2.4	2.1	2.0	1.9	1.9	1.8	1.8
	ARS	USD	4.7	4.3	3.8	3.5	3.2	2.6	2.3	2.0	1.9	1.8	1.8	1.7	1.7
	ARS	ZAR	6.5	5.9	5.3	4.8	4.4	3.5	3.1	2.8	2.6	2.5	2.4	2.4	2.3
	AUD	BRL	4.9	4.5	3.9	3.6	3.3	2.6	2.3	2.1	2.0	1.9	1.8	1.8	1.7
	AUD	CAD	2.9	2.6	2.3	2.0	1.8	1.5	1.4	1.3	1.2	1.2	1.2	1.1	1.1
	AUD	CHF	4.7	4.2	3.8	3.4	3.1	2.5	2.2	2.0	1.9	1.8	1.8	1.7	1.7
	AUD	CLP	4.4	4.0	3.5	3.2	2.9	2.3	2.1	1.9	1.8	1.7	1.6	1.6	1.6
	AUD	CNY	4.3	3.8	3.4	3.0	2.8	2.2	2.0	1.8	1.8	1.7	1.7	1.6	1.6
	AUD	CZK	3.7	3.3	2.9	2.6	2.4	2.0	1.8	1.6	1.5	1.5	1.4	1.4	1.4
	AUD	DKK	3.7	3.4	3.0	2.7	2.5	2.0	1.8	1.6	1.5	1.5	1.4	1.4	1.4
	AUD	EUR	3.7	3.4	3.0	2.7	2.5	2.0	1.8	1.6	1.5	1.5	1.4	1.4	1.4
	AUD	GBP	4.9	4.3	3.7	3.3	3.0	2.3	2.1	1.9	1.8	1.7	1.7	1.7	1.6
	AUD	HKD	4.5	4.1	3.5	3.2	2.9	2.4	2.1	1.9	1.9	1.8	1.8	1.7	1.7
	AUD	HUF	3.9	3.6	3.1	2.8	2.6	2.1	1.9	1.7	1.6	1.5	1.4	1.4	1.4
	AUD	IDR	3.9	3.5	3.1	2.8	2.5	2.0	1.8	1.7	1.6	1.6	1.5	1.5	1.5
	AUD	ILS	3.4	3.1	2.7	2.4	2.2	1.8	1.6	1.4	1.4	1.3	1.3	1.3	1.2
	AUD	INR	4.0	3.6	3.1	2.8	2.6	2.1	1.9	1.7	1.7	1.6	1.6	1.5	1.5
	AUD	JPY	7.7	7.0	6.0	5.4	4.8	3.6	3.1	2.7	2.5	2.3	2.2	2.2	2.1
	AUD	KRW	3.7	3.3	2.9	2.6	2.4	1.9	1.8	1.6	1.5	1.5	1.4	1.4	1.4
	AUD	MXN	3.7	3.3	2.9	2.6	2.4	1.9	1.7	1.6	1.5	1.4	1.4	1.4	1.4
	AUD	MYR	4.1	3.7	3.2	2.9	2.6	2.1	1.9	1.8	1.7	1.6	1.6	1.6	1.5
	AUD	NOK	3.4	3.0	2.7	2.4	2.2	1.8	1.6	1.4	1.4	1.3	1.3	1.2	1.2
	AUD	NZD	2.4	2.2	1.9	1.8	1.6	1.3	1.2	1.0	1.0	1.0	0.9	0.9	0.9
	AUD	PLN	3.5	3.1	2.8	2.5	2.3	1.8	1.6	1.5	1.4	1.3	1.3	1.3	1.3
	AUD	RUB	6.8	6.2	5.5	5.0	4.6	3.6	3.2	2.9	2.7	2.6	2.5	2.4	2.4
	AUD	SAR	4.5	4.1	3.5	3.2	2.9	2.4	2.1	1.9	1.9	1.8	1.8	1.7	1.7
	AUD	SEK	3.7	3.4	3.0	2.7	2.5	2.0	1.8	1.6	1.5	1.5	1.4	1.4	1.4
	AUD	SGD	3.4	3.1	2.7	2.4	2.2	1.8	1.6	1.5	1.4	1.4	1.3	1.3	1.3
	AUD	THB	3.9	3.5	3.1	2.8	2.5	2.0	1.8	1.7	1.6	1.5	1.5	1.5	1.5
	AUD	TRY	3.3	3.0	2.6	2.4	2.2	1.7	1.5	1.4	1.3	1.2	1.2	1.2	1.2
	AUD	TWD	3.9	3.5	3.1	2.7	2.5	2.0	1.8	1.7	1.6	1.6	1.5	1.5	1.5
	AUD	USD	4.5	4.1	3.5	3.2	2.9	2.4	2.1	1.9	1.9	1.8	1.8	1.7	1.7
	AUD	ZAR	3.7	3.3	2.9	2.7	2.4	1.9	1.7	1.5	1.5	1.4	1.4	1.3	1.3
	BRL	CAD	5.1	4.7	4.1	3.7	3.4	2.7	2.4	2.2	2.0	2.0	1.9	1.9	1.8
	BRL	CHF	6.3	5.8	5.1	4.6	4.3	3.4	3.0	2.7	2.5	2.4	2.3	2.3	2.2
	BRL	CLP	5.6	5.1	4.5	4.1	3.8	3.0	2.7	2.4	2.2	2.1	2.1	2.0	2.0
	BRL	CNY	6.0	5.5	4.8	4.4	4.0	3.2	2.8	2.5	2.4	2.3	2.2	2.2	2.1
	BRL	CZK	5.6	5.1	4.6	4.1	3.8	3.0	2.7	2.4	2.2	2.2	2.1	2.0	2.0
	BRL	DKK	5.8	5.3	4.7	4.2	3.9	3.1	2.8	2.4	2.3	2.2	2.1	2.1	2.1
	BRL	EUR	5.8	5.3	4.7	4.2	3.9	3.1	2.8	2.4	2.3	2.2	2.1	2.1	2.1
	BRL	GBP	6.5	5.9	5.2	4.6	4.2	3.3	3.0	2.6	2.5	2.4	2.3	2.3	2.2
	BRL	HKD	6.1	5.6	5.0	4.5	4.1	3.3	2.9	2.6	2.4	2.3	2.3	2.2	2.2
	BRL	HUF	5.8	5.3	4.7	4.2	3.9	3.1	2.7	2.4	2.3	2.2	2.1	2.1	2.0
	BRL	IDR	5.8	5.2	4.7	4.2	3.9	3.1	2.7	2.4	2.3	2.2	2.1	2.1	2.0
	BRL	ILS	5.4	5.0	4.4	4.0	3.6	2.9	2.6	2.3	2.1	2.1	2.0	1.9	1.9
	BRL	INR	5.6	5.1	4.6	4.1	3.8	3.0	2.7	2.4	2.3	2.2	2.1	2.0	2.0
	BRL	JPY	9.0	8.1	7.1	6.4	5.8	4.4	3.8	3.2	3.0	2.8	2.7	2.6	2.6
	BRL	KRW	5.4	5.0	4.4	4.0	3.7	2.9	2.6	2.3	2.2	2.1	2.0	2.0	1.9
	BRL	MXN	5.1	4.6	4.1	3.7	3.4	2.7	2.4	2.2	2.0	1.9	1.9	1.8	1.8
	BRL	MYR	5.8	5.3	4.7	4.2	3.9	3.1	2.8	2.5	2.3	2.2	2.1	2.1	2.1
	BRL	NOK	5.3	4.9	4.3	3.9	3.6	2.9	2.5	2.3	2.1	2.0	2.0	1.9	1.9
	BRL	NZD	5.3	4.8	4.3	3.9	3.6	2.8	2.5	2.2	2.1	2.0	2.0	1.9	1.9
	BRL	PHP	5.7	5.2	4.6	4.2	3.8	3.1	2.7	2.4	2.3	2.2	2.1	2.1	2.0
	BRL	PLN	5.4	4.9	4.4	3.9	3.6	2.9	2.6	2.3	2.2	2.1	2.0	2.0	1.9
	BRL	RUB	7.4	6.7	6.0	5.4	5.0	4.0	3.5	3.1	2.9	2.8	2.7	2.7	2.6
	BRL	SAR	6.1	5.6	5.0	4.5	4.1	3.3	2.9	2.6	2.4	2.3	2.3	2.2	2.2
	BRL	SEK	5.7	5.2	4.6	4.2	3.9	3.1	2.7	2.4	2.3	2.2	2.1	2.1	2.0
	BRL	SGD	5.4	4.9	4.3	3.9	3.6	2.9	2.6	2.3	2.1	2.1	2.0	1.9	1.9
	BRL	THB	5.7	5.2	4.6	4.2	3.8	3.1	2.7	2.4	2.3	2.2	2.1	2.1	2.0
	BRL	TRY	4.8	4.3	3.8	3.5	3.2	2.5	2.2	2.0	1.9	1.8	1.7	1.7	1.6
	BRL	TWD	5.6	5.2	4.6	4.1	3.8	3.0	2.7	2.4	2.3	2.2	2.1	2.0	2.0
	BRL	USD	6.1	5.6	5.0	4.5	4.1	3.3	2.9	2.6	2.4	2.3	2.3	2.2	2.2
	BRL	ZAR	5.1	4.6	4.1	3.7	3.4	2.7	2.4	2.1	2.0	1.9	1.9	1.8	1.8
	CAD	CHF	4.5	4.2	3.8	3.5	3.2	2.7	2.4	2.2	2.1	2.0	1.9	1.9	1.9
	CAD	CLP	4.2	3.9	3.5	3.1	2.9	2.4	2.1	1.9	1.8	1.8	1.7	1.7	1.7
	CAD	CNY	3.0	2.9	2.7	2.5	2.4	2.1	2.0	1.8	1.8	1.7	1.7	1.7	1.7
	CAD	CZK	3.3	3.0	2.7	2.5	2.3	1.9	1.7	1.6	1.5	1.5	1.4	1.4	1.4
	CAD	DKK	3.5	3.2	3.0	2.7	2.6	2.1	1.9	1.8	1.7	1.6	1.6	1.6	1.6
	CAD	EUR	3.5	3.2	3.0	2.7	2.6	2.1	1.9	1.8	1.7	1.6	1.6	1.6	1.6
	CAD	GBP	5.0	4.4	3.8	3.3	3.0	2.4	2.1	1.9	1.8	1.8	1.7	1.7	1.7
	CAD	HKD	3.3	3.1	2.9	2.7	2.6	2.3	2.1	2.0	1.9	1.9	1.9	1.8	1.8
	CAD	HUF	3.9	3.5	3.1	2.8	2.6	2.1	1.9	1.7	1.6	1.5	1.5	1.4	1.4
	CAD	IDR	2.7	2.5	2.4	2.2	2.1	1.8	1.7	1.6	1.6	1.5	1.5	1.5	1.5
	CAD	ILS	1.8	1.7	1.6	1.5	1.4	1.3	1.2	1.1	1.1	1.1	1.1	1.1	1.1
	CAD	INR	3.0	2.8	2.6	2.4	2.3	2.0	1.9	1.8	1.7	1.7	1.7	1.6	1.6
	CAD	JPY	7.3	6.6	5.9	5.3	4.8	3.7	3.2	2.8	2.6	2.5	2.3	2.3	2.2
	CAD	KRW	3.1	2.9	2.6	2.4	2.3	1.9	1.8	1.6	1.6	1.5	1.5	1.5	1.5
	CAD	MXN	3.0	2.7	2.5	2.3	2.1	1.8	1.6	1.5	1.4	1.4	1.3	1.3	1.3
	CAD	MYR	2.9	2.8	2.6	2.4	2.3	2.0	1.9	1.8	1.8	1.7	1.7	1.7	1.7
	CAD	NOK	3.3	3.0	2.7	2.4	2.2	1.8	1.6	1.4	1.4	1.3	1.3	1.2	1.2
	CAD	NZD	3.1	2.8	2.5	2.3	2.1	1.7	1.5	1.4	1.3	1.3	1.2	1.2	1.2
	CAD	PHP	2.6	2.4	2.3	2.1	2.0	1.8	1.7	1.6	1.5	1.5	1.5	1.5	1.5
	CAD	PLN	3.0	2.8	2.5	2.3	2.1	1.7	1.5	1.4	1.3	1.3	1.2	1.2	1.2
	CAD	RUB	6.6	6.0	5.3	4.8	4.4	3.5	3.1	2.7	2.6	2.4	2.4	2.3	2.3
	CAD	SEK	3.8	3.5	3.1	2.8	2.6	2.1	1.9	1.7	1.6	1.6	1.5	1.5	1.5
	CAD	SGD	2.6	2.5	2.3	2.2	2.1	1.8	1.7	1.6	1.6	1.5	1.5	1.5	1.5
	CAD	TRY	2.8	2.6	2.3	2.1	1.9	1.6	1.4	1.3	1.2	1.2	1.1	1.1	1.1
	CAD	TWD	2.9	2.8	2.6	2.4	2.3	2.0	1.9	1.7	1.7	1.7	1.6	1.6	1.6
	CAD	USD	3.3	3.1	2.9	2.7	2.6	2.3	2.1	2.0	1.9	1.9	1.9	1.8	1.8
	CAD	ZAR	3.5	3.2	2.8	2.5	2.3	1.9	1.7	1.5	1.4	1.4	1.3	1.3	1.3
	CHF	CLP	5.6	5.1	4.6	4.1	3.8	3.0	2.7	2.4	2.2	2.1	2.0	2.0	2.0
	CHF	CNY	4.2	3.9	3.5	3.2	2.9	2.3	2.0	1.7	1.6	1.5	1.5	1.4	1.4
	CHF	CZK	3.5	3.2	2.9	2.6	2.4	1.9	1.7	1.5	1.4	1.3	1.3	1.2	1.2
	CHF	DKK	3.1	2.9	2.6	2.4	2.2	1.7	1.5	1.3	1.2	1.2	1.1	1.1	1.1
	CHF	EUR	3.1	2.9	2.6	2.4	2.2	1.7	1.5	1.3	1.2	1.2	1.1	1.1	1.1
	CHF	GBP	5.7	5.0	4.3	3.8	3.5	2.7	2.4	2.1	2.0	1.9	1.8	1.8	1.8
	CHF	HKD	4.5	4.1	3.7	3.4	3.1	2.5	2.1	1.9	1.7	1.7	1.6	1.5	1.5
	CHF	HUF	4.1	3.8	3.4	3.0	2.8	2.2	2.0	1.7	1.6	1.6	1.5	1.5	1.4
	CHF	IDR	4.0	3.7	3.3	3.0	2.8	2.2	1.9	1.7	1.6	1.5	1.4	1.4	1.3
	CHF	ILS	3.0	2.7	2.5	2.2	2.0	1.6	1.4	1.2	1.1	1.0	1.0	1.0	0.9
	CHF	INR	4.3	4.0	3.6	3.2	3.0	2.4	2.1	1.8	1.7	1.6	1.5	1.5	1.5
	CHF	ISK	3.8	3.5	3.1	2.8	2.6	2.0	1.8	1.6	1.5	1.4	1.4	1.3	1.3
	CHF	JPY	6.3	5.7	5.0	4.5	4.0	3.0	2.5	2.1	1.9	1.8	1.7	1.6	1.6
	CHF	KRW	4.4	4.0	3.6	3.3	3.0	2.4	2.1	1.8	1.7	1.6	1.6	1.5	1.5
	CHF	MXN	4.8	4.4	4.0	3.6	3.3	2.6	2.3	2.0	1.9	1.8	1.7	1.7	1.7
	CHF	MYR	4.2	3.8	3.5	3.1	2.9	2.3	2.0	1.7	1.6	1.5	1.5	1.4	1.4
	CHF	NOK	4.2	3.9	3.5	3.1	2.9	2.3	2.0	1.8	1.7	1.6	1.5	1.5	1.5
	CHF	NZD	4.3	4.0	3.5	3.2	3.0	2.3	2.1	1.8	1.7	1.6	1.6	1.5	1.5
	CHF	PHP	3.9	3.6	3.2	2.9	2.7	2.1	1.9	1.6	1.5	1.4	1.4	1.3	1.3
	CHF	PLN	3.6	3.3	2.9	2.7	2.4	1.9	1.7	1.5	1.4	1.3	1.3	1.3	1.2
	CHF	RUB	7.3	6.7	5.9	5.4	4.9	3.9	3.5	3.1	2.9	2.8	2.7	2.6	2.6
	CHF	SEK	4.2	3.8	3.4	3.1	2.8	2.3	2.0	1.8	1.7	1.6	1.5	1.5	1.5
	CHF	SGD	3.6	3.3	3.0	2.7	2.5	2.0	1.7	1.5	1.4	1.3	1.3	1.2	1.2
	CHF	THB	3.7	3.5	3.1	2.8	2.6	2.0	1.8	1.5	1.4	1.4	1.3	1.3	1.2
	CHF	TRY	3.9	3.6	3.2	2.9	2.6	2.1	1.8	1.6	1.5	1.4	1.4	1.4	1.3
	CHF	TWD	4.0	3.7	3.3	3.0	2.8	2.2	1.9	1.7	1.6	1.5	1.4	1.4	1.4
	CHF	USD	4.5	4.1	3.7	3.4	3.1	2.5	2.1	1.9	1.7	1.7	1.6	1.5	1.5
	CHF	ZAR	4.9	4.4	4.0	3.6	3.3	2.6	2.3	2.0	1.9	1.8	1.8	1.7	1.7
	CLP	CNY	4.6	4.2	3.7	3.4	3.1	2.5	2.2	1.9	1.8	1.8	1.7	1.7	1.6
	CLP	CZK	4.8	4.4	3.9	3.5	3.2	2.6	2.3	2.0	1.9	1.8	1.8	1.7	1.7
	CLP	EUR	4.8	4.4	3.9	3.6	3.3	2.6	2.3	2.1	2.0	1.9	1.8	1.8	1.7
	CLP	GBP	6.3	5.6	4.9	4.3	3.9	3.1	2.7	2.4	2.3	2.2	2.1	2.1	2.1
	CLP	HKD	4.7	4.3	3.8	3.5	3.2	2.6	2.3	2.0	1.9	1.8	1.8	1.7	1.7
	CLP	HUF	5.2	4.7	4.2	3.8	3.5	2.8	2.5	2.2	2.1	2.0	1.9	1.9	1.8
	CLP	IDR	4.5	4.1	3.6	3.3	3.0	2.4	2.1	1.9	1.8	1.7	1.6	1.6	1.6
	CLP	ILS	4.1	3.7	3.3	3.0	2.7	2.2	1.9	1.7	1.6	1.5	1.5	1.4	1.4
	CLP	INR	4.4	4.0	3.6	3.2	3.0	2.4	2.1	1.9	1.8	1.7	1.6	1.6	1.6
	CLP	JPY	7.8	7.0	6.1	5.5	4.9	3.7	3.2	2.7	2.5	2.3	2.2	2.2	2.1
	CLP	KRW	4.7	4.3	3.8	3.4	3.2	2.5	2.2	2.0	1.9	1.8	1.7	1.7	1.7
	CLP	MXN	4.3	3.9	3.5	3.2	2.9	2.3	2.1	1.8	1.7	1.7	1.6	1.6	1.5
	CLP	MYR	4.5	4.1	3.6	3.3	3.0	2.4	2.1	1.9	1.8	1.7	1.7	1.6	1.6
	CLP	NOK	4.9	4.4	3.9	3.6	3.3	2.6	2.3	2.1	1.9	1.9	1.8	1.8	1.7
	CLP	NZD	4.5	4.1	3.7	3.3	3.0	2.4	2.2	1.9	1.8	1.7	1.7	1.6	1.6
	CLP	RUB	7.2	6.6	5.8	5.3	4.9	3.9	3.4	3.0	2.9	2.8	2.7	2.6	2.6
	CLP	SEK	5.1	4.6	4.1	3.7	3.4	2.7	2.4	2.2	2.0	1.9	1.9	1.8	1.8
	CLP	SGD	4.2	3.9	3.4	3.1	2.8	2.3	2.0	1.8	1.7	1.6	1.6	1.5	1.5
	CLP	TRY	4.2	3.8	3.4	3.1	2.8	2.2	2.0	1.8	1.7	1.6	1.5	1.5	1.5
	CLP	TWD	4.4	4.0	3.5	3.2	2.9	2.4	2.1	1.9	1.8	1.7	1.6	1.6	1.6
	CLP	USD	4.7	4.3	3.8	3.5	3.2	2.6	2.3	2.0	1.9	1.8	1.8	1.7	1.7
	CLP	ZAR	4.6	4.2	3.7	3.4	3.1	2.5	2.2	1.9	1.8	1.8	1.7	1.7	1.6
	CNY	HKD	0.9	0.8	0.7	0.6	0.6	0.5	0.4	0.4	0.3	0.3	0.3	0.3	0.3
	CNY	JPY	6.2	5.6	4.8	4.2	3.8	2.7	2.2	1.8	1.6	1.4	1.3	1.3	1.2
	CNY	USD	0.9	0.8	0.7	0.6	0.6	0.5	0.4	0.4	0.3	0.3	0.3	0.3	0.3
	CNY	CZK	3.5	3.2	2.9	2.6	2.4	1.9	1.7	1.5	1.4	1.3	1.3	1.3	1.3
	CNY	DKK	3.7	3.4	3.1	2.8	2.6	2.1	1.8	1.6	1.5	1.4	1.4	1.4	1.3
	CNY	EUR	3.7	3.4	3.1	2.8	2.6	2.1	1.8	1.6	1.5	1.4	1.4	1.4	1.3
	CNY	GBP	5.8	5.1	4.3	3.7	3.3	2.6	2.3	2.0	1.9	1.8	1.8	1.8	1.7
	CNY	HUF	4.8	4.3	3.9	3.5	3.2	2.6	2.3	2.0	1.9	1.8	1.8	1.7	1.7
	CNY	IDR	1.3	1.2	1.0	0.9	0.9	0.7	0.6	0.5	0.5	0.5	0.5	0.5	0.5
	CNY	ILS	0.7	0.7	0.6	0.5	0.5	0.4	0.4	0.3	0.3	0.3	0.3	0.3	0.3
	CNY	INR	1.7	1.6	1.4	1.2	1.1	0.9	0.8	0.7	0.7	0.6	0.6	0.6	0.6
	CNY	KRW	3.0	2.7	2.4	2.2	2.0	1.6	1.4	1.3	1.2	1.1	1.1	1.1	1.1
	CNY	KWD	0.9	0.8	0.7	0.7	0.6	0.5	0.4	0.4	0.4	0.3	0.3	0.3	0.3
	CNY	MXN	3.3	3.0	2.7	2.4	2.2	1.8	1.6	1.4	1.3	1.3	1.2	1.2	1.2
	CNY	MYR	0.9	0.8	0.8	0.7	0.6	0.5	0.4	0.4	0.4	0.4	0.3	0.3	0.3
	CNY	NOK	4.3	3.9	3.5	3.2	2.9	2.3	2.1	1.8	1.7	1.7	1.6	1.6	1.5
	CNY	NZD	3.9	3.6	3.2	2.9	2.6	2.1	1.9	1.7	1.6	1.5	1.4	1.4	1.4
	CNY	PHP	1.0	1.0	0.8	0.8	0.7	0.6	0.5	0.4	0.4	0.4	0.4	0.4	0.4
	CNY	PLN	3.8	3.5	3.1	2.8	2.5	2.0	1.8	1.6	1.5	1.4	1.4	1.4	1.3
	CNY	RUB	7.3	6.7	5.9	5.4	4.9	3.9	3.5	3.1	2.9	2.8	2.7	2.7	2.6
	CNY	SAR	0.9	0.8	0.7	0.6	0.6	0.5	0.4	0.4	0.3	0.3	0.3	0.3	0.3
	CNY	SEK	4.5	4.1	3.7	3.3	3.0	2.4	2.2	1.9	1.8	1.7	1.7	1.6	1.6
	CNY	SGD	1.6	1.4	1.3	1.2	1.1	0.8	0.7	0.7	0.6	0.6	0.6	0.6	0.6
	CNY	THB	1.0	0.9	0.8	0.7	0.7	0.5	0.5	0.4	0.4	0.4	0.4	0.4	0.4
	CNY	TRY	3.1	2.8	2.5	2.2	2.1	1.6	1.5	1.3	1.2	1.2	1.1	1.1	1.1
	CNY	TWD	1.6	1.4	1.3	1.1	1.0	0.8	0.7	0.7	0.6	0.6	0.6	0.6	0.5
	CNY	ZAR	4.3	4.0	3.5	3.2	2.9	2.3	2.1	1.8	1.7	1.7	1.6	1.6	1.5
	COP	EUR	4.9	4.5	4.0	3.7	3.4	2.7	2.4	2.1	2.0	1.9	1.8	1.8	1.8
	COP	JPY	7.8	7.1	6.2	5.5	5.0	3.7	3.2	2.7	2.5	2.3	2.2	2.2	2.1
	COP	USD	4.7	4.3	3.8	3.5	3.2	2.6	2.3	2.0	1.9	1.8	1.8	1.7	1.7
	CZK	DKK	1.8	1.6	1.5	1.3	1.2	1.0	0.9	0.8	0.7	0.7	0.7	0.6	0.6
	CZK	EUR	1.8	1.6	1.5	1.3	1.2	1.0	0.9	0.8	0.7	0.7	0.7	0.6	0.6
	CZK	GBP	4.6	4.0	3.4	3.0	2.7	2.1	1.9	1.7	1.6	1.5	1.5	1.5	1.4
	CZK	HKD	3.7	3.4	3.0	2.7	2.5	2.0	1.8	1.6	1.5	1.4	1.4	1.3	1.3
	CZK	HUF	2.7	2.5	2.2	2.0	1.8	1.4	1.3	1.1	1.1	1.0	1.0	1.0	1.0
	CZK	IDR	3.4	3.1	2.7	2.5	2.3	1.8	1.6	1.4	1.3	1.3	1.2	1.2	1.2
	CZK	INR	3.5	3.2	2.9	2.6	2.4	1.9	1.7	1.5	1.4	1.4	1.3	1.3	1.3
	CZK	ISK	6.0	5.5	4.8	4.4	4.0	3.2	2.8	2.5	2.3	2.2	2.2	2.1	2.1
	CZK	JPY	6.7	6.0	5.3	4.7	4.2	3.1	2.6	2.2	2.0	1.9	1.8	1.7	1.7
	CZK	KRW	3.6	3.3	2.9	2.7	2.4	2.0	1.7	1.5	1.5	1.4	1.3	1.3	1.3
	CZK	MXN	3.7	3.4	3.0	2.7	2.5	2.0	1.8	1.6	1.5	1.4	1.4	1.4	1.3
	CZK	MYR	3.4	3.1	2.8	2.5	2.3	1.8	1.6	1.4	1.4	1.3	1.3	1.2	1.2
	CZK	NOK	3.2	2.9	2.6	2.4	2.2	1.7	1.5	1.4	1.3	1.2	1.2	1.2	1.1
	CZK	NZD	3.6	3.3	2.9	2.6	2.4	1.9	1.7	1.5	1.4	1.4	1.3	1.3	1.3
	CZK	PHP	3.3	3.0	2.7	2.4	2.2	1.8	1.6	1.4	1.3	1.2	1.2	1.2	1.2
	CZK	PLN	2.0	1.8	1.6	1.5	1.3	1.1	0.9	0.8	0.8	0.8	0.7	0.7	0.7
	CZK	RON	2.5	2.3	2.0	1.8	1.7	1.3	1.2	1.0	1.0	0.9	0.9	0.9	0.9
	CZK	RUB	6.7	6.1	5.4	4.9	4.5	3.6	3.2	2.8	2.7	2.6	2.5	2.4	2.4
	CZK	SEK	2.8	2.6	2.3	2.1	1.9	1.5	1.3	1.2	1.1	1.1	1.0	1.0	1.0
	CZK	SGD	2.8	2.6	2.3	2.1	1.9	1.5	1.3	1.2	1.1	1.1	1.0	1.0	1.0
	CZK	THB	3.3	3.0	2.6	2.4	2.2	1.7	1.5	1.4	1.3	1.2	1.2	1.2	1.1
	CZK	TRY	3.4	3.1	2.7	2.5	2.3	1.8	1.6	1.4	1.3	1.3	1.2	1.2	1.2
	CZK	TWD	3.3	3.0	2.7	2.4	2.2	1.8	1.6	1.4	1.3	1.3	1.2	1.2	1.2
	CZK	USD	3.7	3.4	3.0	2.7	2.5	2.0	1.8	1.6	1.5	1.4	1.4	1.3	1.3
	CZK	ZAR	4.1	3.8	3.3	3.0	2.8	2.2	2.0	1.7	1.7	1.6	1.5	1.5	1.5
	DKK	EUR	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
	DKK	GBP	4.7	4.1	3.5	3.1	2.8	2.2	1.9	1.7	1.6	1.6	1.5	1.5	1.5
	DKK	HKD	3.9	3.6	3.3	3.0	2.8	2.2	2.0	1.7	1.6	1.5	1.5	1.5	1.4
	DKK	HUF	2.6	2.3	2.1	1.8	1.7	1.3	1.2	1.1	1.0	1.0	0.9	0.9	0.9
	DKK	INR	3.7	3.4	3.1	2.8	2.6	2.1	1.8	1.6	1.5	1.5	1.4	1.4	1.3
	DKK	JPY	6.6	6.0	5.2	4.7	4.2	3.1	2.6	2.2	2.0	1.9	1.8	1.7	1.7
	DKK	KRW	3.7	3.5	3.1	2.8	2.6	2.1	1.8	1.6	1.5	1.5	1.4	1.4	1.4
	DKK	NOK	3.0	2.7	2.4	2.2	2.0	1.6	1.4	1.3	1.2	1.1	1.1	1.1	1.1
	DKK	PLN	2.1	1.9	1.7	1.5	1.4	1.1	1.0	0.9	0.8	0.8	0.7	0.7	0.7
	DKK	RUB	6.8	6.2	5.5	5.0	4.6	3.7	3.2	2.9	2.7	2.6	2.5	2.5	2.4
	DKK	SEK	2.6	2.4	2.1	1.9	1.8	1.4	1.2	1.1	1.0	1.0	1.0	0.9	0.9
	DKK	THB	3.2	3.0	2.7	2.4	2.3	1.8	1.6	1.4	1.3	1.2	1.2	1.2	1.1
	DKK	TRY	3.3	3.0	2.7	2.4	2.2	1.8	1.6	1.4	1.3	1.2	1.2	1.2	1.2
	DKK	TWD	3.4	3.2	2.9	2.6	2.4	2.0	1.7	1.5	1.4	1.4	1.3	1.3	1.3
	DKK	USD	3.9	3.6	3.3	3.0	2.8	2.2	2.0	1.7	1.6	1.5	1.5	1.5	1.4
	DKK	ZAR	4.2	3.8	3.4	3.1	2.9	2.3	2.0	1.8	1.7	1.6	1.5	1.5	1.5
	EGP	EUR	5.9	5.4	4.8	4.4	4.0	3.2	2.8	2.5	2.4	2.3	2.2	2.1	2.1
	EGP	SAR	4.5	4.1	3.6	3.3	3.0	2.4	2.1	1.9	1.8	1.7	1.7	1.6	1.6
	EGP	USD	4.5	4.1	3.6	3.3	3.0	2.4	2.1	1.9	1.8	1.7	1.7	1.6	1.6
	EUR	GBP	4.7	4.1	3.5	3.1	2.8	2.2	1.9	1.7	1.6	1.6	1.5	1.5	1.5
	EUR	HKD	3.9	3.6	3.3	3.0	2.8	2.2	2.0	1.7	1.6	1.5	1.5	1.5	1.4
	EUR	HUF	2.6	2.3	2.1	1.8	1.7	1.3	1.2	1.1	1.0	1.0	0.9	0.9	0.9
	EUR	IDR	3.5	3.2	2.9	2.6	2.4	1.9	1.7	1.5	1.4	1.4	1.3	1.3	1.2
	EUR	ILS	2.4	2.2	2.0	1.8	1.7	1.3	1.1	1.0	0.9	0.9	0.8	0.8	0.8
	EUR	INR	3.7	3.4	3.1	2.8	2.6	2.1	1.8	1.6	1.5	1.5	1.4	1.4	1.3
	EUR	ISK	3.7	3.4	3.0	2.7	2.5	2.0	1.7	1.5	1.5	1.4	1.3	1.3	1.3
	EUR	JPY	6.6	6.0	5.2	4.7	4.2	3.1	2.6	2.2	2.0	1.9	1.8	1.7	1.7
	EUR	KRW	3.7	3.5	3.1	2.8	2.6	2.1	1.8	1.6	1.5	1.5	1.4	1.4	1.4
	EUR	KRO	3.7	3.5	3.1	2.8	2.6	2.1	1.8	1.6	1.5	1.5	1.4	1.4	1.4
	EUR	MXN	4.0	3.7	3.3	3.0	2.8	2.2	2.0	1.7	1.6	1.6	1.5	1.5	1.4
	EUR	MYR	3.5	3.3	3.0	2.7	2.5	2.0	1.8	1.6	1.5	1.4	1.4	1.3	1.3
	EUR	NOK	3.0	2.7	2.4	2.2	2.0	1.6	1.4	1.3	1.2	1.1	1.1	1.1	1.1
	EUR	NZD	3.5	3.2	2.9	2.6	2.4	1.9	1.7	1.5	1.4	1.3	1.3	1.3	1.2
	EUR	PEN	5.2	4.8	4.3	3.9	3.6	2.9	2.5	2.2	2.1	2.0	2.0	1.9	1.9
	EUR	PHP	3.3	3.1	2.8	2.5	2.3	1.9	1.6	1.4	1.3	1.3	1.2	1.2	1.2
	EUR	PLN	2.1	1.9	1.7	1.5	1.4	1.1	1.0	0.9	0.8	0.8	0.7	0.7	0.7
	EUR	RON	1.8	1.6	1.4	1.3	1.2	0.9	0.8	0.7	0.7	0.6	0.6	0.6	0.6
	EUR	RUB	6.8	6.2	5.5	5.0	4.6	3.7	3.2	2.9	2.7	2.6	2.5	2.5	2.4
	EUR	SAR	3.9	3.6	3.3	3.0	2.8	2.2	2.0	1.7	1.6	1.5	1.5	1.5	1.4
	EUR	SEK	2.6	2.4	2.1	1.9	1.8	1.4	1.2	1.1	1.0	1.0	1.0	0.9	0.9
	EUR	SGD	2.9	2.7	2.4	2.2	2.1	1.7	1.5	1.3	1.2	1.2	1.1	1.1	1.1
	EUR	SKK	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
	EUR	THB	3.2	3.0	2.7	2.4	2.3	1.8	1.6	1.4	1.3	1.2	1.2	1.2	1.1
	EUR	TRY	3.3	3.0	2.7	2.4	2.2	1.8	1.6	1.4	1.3	1.2	1.2	1.2	1.2
	EUR	TWD	3.4	3.2	2.9	2.6	2.4	2.0	1.7	1.5	1.4	1.4	1.3	1.3	1.3
	EUR	UAH	5.7	5.2	4.7	4.2	3.9	3.1	2.8	2.4	2.3	2.2	2.1	2.1	2.0
	EUR	USD	3.9	3.6	3.3	3.0	2.8	2.2	2.0	1.7	1.6	1.5	1.5	1.5	1.4
	EUR	XAU	1.1	1.1	1.1	1.1	1.1	1.1	1.1	1.1	1.1	1.1	1.1	1.1	1.1
	EUR	ZAR	4.2	3.8	3.4	3.1	2.9	2.3	2.0	1.8	1.7	1.6	1.5	1.5	1.5
	GBP	HKD	6.2	5.4	4.5	4.0	3.5	2.7	2.4	2.2	2.0	2.0	1.9	1.9	1.8
	GBP	HUF	4.7	4.2	3.7	3.3	3.0	2.4	2.1	1.9	1.8	1.7	1.7	1.6	1.6
	GBP	IDR	5.5	4.8	4.1	3.6	3.2	2.5	2.2	1.9	1.8	1.8	1.7	1.7	1.7
	GBP	ILS	4.7	4.0	3.4	2.9	2.6	2.0	1.8	1.6	1.5	1.4	1.4	1.4	1.3
	GBP	INR	5.8	5.1	4.3	3.8	3.4	2.6	2.3	2.1	1.9	1.9	1.8	1.8	1.7
	GBP	JPY	8.8	7.8	6.7	5.9	5.2	3.9	3.3	2.8	2.6	2.4	2.3	2.3	2.2
	GBP	KRW	5.6	4.9	4.2	3.7	3.3	2.6	2.3	2.1	1.9	1.9	1.8	1.8	1.7
	GBP	MXN	5.4	4.8	4.1	3.6	3.3	2.5	2.3	2.0	1.9	1.8	1.8	1.7	1.7
	GBP	MYR	5.8	5.1	4.3	3.7	3.3	2.6	2.3	2.0	1.9	1.8	1.8	1.8	1.7
	GBP	NOK	4.6	4.1	3.5	3.1	2.9	2.3	2.0	1.8	1.7	1.6	1.6	1.5	1.5
	GBP	NZD	4.9	4.4	3.7	3.3	3.0	2.4	2.1	1.9	1.8	1.7	1.6	1.6	1.6
	GBP	PHP	5.5	4.8	4.0	3.5	3.1	2.4	2.1	1.9	1.8	1.7	1.7	1.7	1.6
	GBP	PLN	4.2	3.8	3.2	2.9	2.6	2.1	1.8	1.6	1.5	1.5	1.4	1.4	1.4
	GBP	RUB	7.2	6.5	5.8	5.2	4.8	3.8	3.4	3.0	2.8	2.7	2.6	2.6	2.5
	GBP	SEK	4.8	4.3	3.7	3.3	3.0	2.4	2.1	1.9	1.8	1.7	1.6	1.6	1.6
	GBP	SGD	5.3	4.6	3.9	3.4	3.0	2.3	2.1	1.8	1.7	1.7	1.6	1.6	1.6
	GBP	THB	5.4	4.7	4.0	3.5	3.1	2.4	2.1	1.9	1.8	1.7	1.7	1.6	1.6
	GBP	TRY	4.4	3.9	3.4	3.0	2.7	2.2	1.9	1.7	1.6	1.5	1.5	1.5	1.4
	GBP	TWD	5.6	4.9	4.1	3.6	3.2	2.5	2.2	2.0	1.9	1.8	1.7	1.7	1.7
	GBP	USD	6.2	5.4	4.5	4.0	3.5	2.7	2.4	2.2	2.0	2.0	1.9	1.9	1.8
	GBP	ZAR	5.3	4.7	4.1	3.7	3.3	2.6	2.3	2.1	2.0	1.9	1.8	1.8	1.7
	HKD	HUF	4.9	4.5	4.0	3.6	3.3	2.6	2.3	2.1	2.0	1.9	1.8	1.8	1.7
	HKD	IDR	1.2	1.1	1.0	0.9	0.8	0.6	0.6	0.5	0.5	0.5	0.4	0.4	0.4
	HKD	INR	1.7	1.6	1.4	1.3	1.2	0.9	0.8	0.7	0.7	0.7	0.6	0.6	0.6
	HKD	JPY	6.3	5.7	5.0	4.4	3.9	2.8	2.3	1.8	1.6	1.5	1.4	1.3	1.2
	HKD	KRW	3.1	2.9	2.5	2.3	2.1	1.7	1.5	1.3	1.3	1.2	1.2	1.1	1.1
	HKD	KWD	0.6	0.5	0.5	0.4	0.4	0.3	0.3	0.2	0.2	0.2	0.2	0.2	0.2
	HKD	MXN	3.4	3.1	2.7	2.5	2.3	1.8	1.6	1.4	1.3	1.3	1.2	1.2	1.2
	HKD	MYR	0.8	0.7	0.6	0.6	0.5	0.4	0.4	0.3	0.3	0.3	0.3	0.3	0.3
	HKD	NOK	4.6	4.2	3.7	3.3	3.1	2.5	2.2	1.9	1.8	1.7	1.7	1.7	1.6
	HKD	NZD	4.1	3.7	3.3	3.0	2.8	2.2	2.0	1.7	1.6	1.6	1.5	1.5	1.5
	HKD	PLN	3.9	3.6	3.2	2.9	2.6	2.1	1.9	1.7	1.6	1.5	1.5	1.4	1.4
	HKD	RUB	7.4	6.7	6.0	5.4	5.0	4.0	3.5	3.1	2.9	2.8	2.7	2.7	2.6
	HKD	SAR	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
	HKD	SEK	4.7	4.3	3.8	3.5	3.2	2.6	2.3	2.0	1.9	1.8	1.8	1.7	1.7
	HKD	SGD	1.8	1.7	1.5	1.3	1.2	1.0	0.9	0.8	0.7	0.7	0.7	0.7	0.6
	HKD	THB	0.9	0.8	0.7	0.6	0.6	0.5	0.4	0.4	0.3	0.3	0.3	0.3	0.3
	HKD	TRY	3.0	2.8	2.5	2.2	2.0	1.6	1.5	1.3	1.2	1.2	1.1	1.1	1.1
	HKD	TWD	1.8	1.6	1.5	1.3	1.2	1.0	0.9	0.8	0.7	0.7	0.7	0.7	0.6
	HKD	USD	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
	HKD	ZAR	4.5	4.1	3.6	3.3	3.0	2.4	2.1	1.9	1.8	1.7	1.7	1.6	1.6
	HUF	IDR	4.6	4.2	3.7	3.3	3.1	2.5	2.2	1.9	1.8	1.7	1.7	1.7	1.6
	HUF	ILS	4.1	3.7	3.3	3.0	2.7	2.2	1.9	1.7	1.6	1.5	1.5	1.5	1.4
	HUF	INR	4.5	4.1	3.6	3.3	3.0	2.4	2.1	1.9	1.8	1.7	1.7	1.6	1.6
	HUF	JPY	7.4	6.7	5.8	5.2	4.7	3.5	3.0	2.6	2.4	2.3	2.1	2.1	2.0
	HUF	KRW	4.3	3.9	3.5	3.1	2.9	2.3	2.0	1.8	1.7	1.6	1.6	1.5	1.5
	HUF	MXN	4.4	4.0	3.6	3.2	3.0	2.4	2.1	1.9	1.8	1.7	1.6	1.6	1.6
	HUF	MYR	4.6	4.2	3.7	3.3	3.1	2.4	2.2	1.9	1.8	1.7	1.7	1.6	1.6
	HUF	NOK	3.6	3.3	3.0	2.7	2.5	2.0	1.7	1.5	1.5	1.4	1.3	1.3	1.3
	HUF	NZD	4.1	3.7	3.3	3.0	2.7	2.2	1.9	1.7	1.6	1.5	1.5	1.5	1.4
	HUF	PLN	2.4	2.2	1.9	1.7	1.6	1.3	1.1	1.0	0.9	0.9	0.9	0.9	0.8
	HUF	RON	3.0	2.7	2.4	2.2	2.0	1.6	1.4	1.3	1.2	1.1	1.1	1.1	1.1
	HUF	RUB	6.9	6.3	5.6	5.1	4.7	3.7	3.3	2.9	2.8	2.6	2.5	2.5	2.5
	HUF	SEK	3.1	2.8	2.5	2.2	2.1	1.6	1.5	1.3	1.2	1.2	1.1	1.1	1.1
	HUF	SGD	3.9	3.5	3.1	2.8	2.6	2.1	1.8	1.6	1.5	1.5	1.4	1.4	1.4
	HUF	THB	4.5	4.1	3.6	3.3	3.0	2.4	2.1	1.9	1.8	1.7	1.6	1.6	1.6
	HUF	TRY	3.9	3.6	3.2	2.9	2.6	2.1	1.8	1.6	1.5	1.5	1.4	1.4	1.4
	HUF	TWD	4.3	3.9	3.5	3.2	2.9	2.3	2.1	1.8	1.7	1.7	1.6	1.6	1.5
	HUF	USD	4.9	4.5	4.0	3.6	3.3	2.6	2.3	2.1	2.0	1.9	1.8	1.8	1.7
	HUF	ZAR	4.3	4.0	3.5	3.2	2.9	2.3	2.1	1.8	1.7	1.7	1.6	1.6	1.5
	IDR	ILS	1.0	0.9	0.8	0.7	0.7	0.5	0.5	0.4	0.4	0.4	0.4	0.4	0.3
	IDR	INR	1.5	1.4	1.2	1.1	1.0	0.8	0.7	0.6	0.6	0.6	0.5	0.5	0.5
	IDR	JPY	6.1	5.5	4.8	4.2	3.7	2.7	2.2	1.8	1.6	1.4	1.3	1.3	1.2
	IDR	KRW	2.7	2.5	2.2	2.0	1.8	1.4	1.3	1.1	1.1	1.0	1.0	1.0	1.0
	IDR	MXN	3.1	2.8	2.5	2.3	2.1	1.7	1.5	1.3	1.2	1.2	1.1	1.1	1.1
	IDR	MYR	1.1	1.0	0.9	0.8	0.7	0.6	0.5	0.4	0.4	0.4	0.4	0.4	0.4
	IDR	NOK	4.2	3.8	3.4	3.0	2.8	2.2	2.0	1.8	1.7	1.6	1.5	1.5	1.5
	IDR	NZD	3.6	3.3	2.9	2.7	2.4	1.9	1.7	1.5	1.4	1.4	1.3	1.3	1.3
	IDR	PHP	1.1	1.0	0.9	0.8	0.7	0.6	0.5	0.5	0.4	0.4	0.4	0.4	0.4
	IDR	PLN	3.6	3.3	2.9	2.6	2.4	1.9	1.7	1.5	1.4	1.4	1.3	1.3	1.3
	IDR	RUB	7.2	6.6	5.8	5.3	4.9	3.9	3.4	3.1	2.9	2.8	2.7	2.6	2.6
	IDR	SEK	4.3	3.9	3.5	3.2	2.9	2.3	2.0	1.8	1.7	1.6	1.6	1.6	1.5
	IDR	SGD	1.5	1.3	1.2	1.1	1.0	0.8	0.7	0.6	0.6	0.6	0.5	0.5	0.5
	IDR	THB	1.2	1.1	1.0	0.9	0.8	0.6	0.6	0.5	0.5	0.5	0.4	0.4	0.4
	IDR	TRY	3.0	2.7	2.4	2.2	2.0	1.6	1.4	1.3	1.2	1.1	1.1	1.1	1.1
	IDR	TWD	1.6	1.5	1.3	1.2	1.1	0.9	0.8	0.7	0.7	0.6	0.6	0.6	0.6
	IDR	USD	1.2	1.1	1.0	0.9	0.8	0.6	0.6	0.5	0.5	0.5	0.4	0.4	0.4
	IDR	ZAR	4.2	3.8	3.4	3.1	2.8	2.2	2.0	1.8	1.7	1.6	1.5	1.5	1.5
	ILS	INR	0.9	0.9	0.7	0.7	0.6	0.5	0.4	0.4	0.4	0.3	0.3	0.3	0.3
	ILS	JPY	5.4	4.9	4.1	3.6	3.2	2.2	1.8	1.4	1.3	1.1	1.1	1.0	1.0
	ILS	KRW	2.2	2.0	1.7	1.5	1.4	1.1	1.0	0.9	0.8	0.8	0.8	0.7	0.7
	ILS	MXN	2.5	2.3	2.0	1.8	1.7	1.3	1.2	1.0	1.0	0.9	0.9	0.9	0.9
	ILS	MYR	0.5	0.5	0.4	0.4	0.4	0.3	0.2	0.2	0.2	0.2	0.2	0.2	0.2
	ILS	NOK	3.6	3.3	2.9	2.6	2.4	1.9	1.7	1.5	1.4	1.3	1.3	1.3	1.2
	ILS	PHP	0.8	0.7	0.6	0.6	0.5	0.4	0.4	0.3	0.3	0.3	0.3	0.3	0.3
	ILS	RUB	7.2	6.6	5.8	5.3	4.8	3.9	3.4	3.0	2.9	2.7	2.7	2.6	2.6
	ILS	SEK	3.6	3.3	2.9	2.6	2.4	1.9	1.7	1.5	1.4	1.3	1.3	1.3	1.2
	ILS	SGD	0.6	0.6	0.5	0.4	0.4	0.3	0.3	0.2	0.2	0.2	0.2	0.2	0.2
	ILS	TRY	2.9	2.6	2.3	2.1	1.9	1.5	1.4	1.2	1.2	1.1	1.1	1.0	1.0
	ILS	TWD	0.9	0.8	0.7	0.6	0.6	0.5	0.4	0.4	0.3	0.3	0.3	0.3	0.3
	ILS	USD	0.6	0.5	0.5	0.4	0.4	0.3	0.3	0.2	0.2	0.2	0.2	0.2	0.2
	ILS	ZAR	3.8	3.5	3.1	2.8	2.6	2.0	1.8	1.6	1.5	1.4	1.4	1.4	1.3
	INR	JPY	6.6	5.9	5.2	4.6	4.1	3.0	2.4	2.0	1.8	1.6	1.5	1.5	1.4
	INR	KRW	2.8	2.6	2.3	2.1	1.9	1.5	1.4	1.2	1.1	1.1	1.1	1.0	1.0
	INR	MXN	3.0	2.8	2.5	2.2	2.0	1.6	1.4	1.3	1.2	1.2	1.1	1.1	1.1
	INR	MYR	1.5	1.4	1.2	1.1	1.0	0.8	0.7	0.6	0.6	0.6	0.5	0.5	0.5
	INR	NOK	4.2	3.8	3.4	3.1	2.8	2.3	2.0	1.8	1.7	1.6	1.5	1.5	1.5
	INR	NZD	3.6	3.3	2.9	2.7	2.5	2.0	1.7	1.5	1.5	1.4	1.3	1.3	1.3
	INR	PHP	1.1	1.0	0.9	0.8	0.7	0.6	0.5	0.4	0.4	0.4	0.4	0.4	0.4
	INR	PLN	3.6	3.2	2.9	2.6	2.4	1.9	1.7	1.5	1.4	1.4	1.3	1.3	1.3
	INR	RUB	7.1	6.5	5.7	5.2	4.8	3.8	3.4	3.0	2.8	2.7	2.6	2.6	2.5
	INR	SEK	4.3	4.0	3.5	3.2	2.9	2.3	2.1	1.8	1.7	1.7	1.6	1.6	1.5
	INR	SGD	1.8	1.7	1.5	1.3	1.2	1.0	0.9	0.8	0.7	0.7	0.7	0.7	0.7
	INR	THB	1.3	1.2	1.0	0.9	0.9	0.7	0.6	0.5	0.5	0.5	0.5	0.5	0.4
	INR	TRY	2.8	2.5	2.2	2.0	1.8	1.5	1.3	1.2	1.1	1.0	1.0	1.0	1.0
	INR	TWD	1.9	1.7	1.5	1.4	1.3	1.0	0.9	0.8	0.8	0.7	0.7	0.7	0.7
	INR	USD	1.7	1.6	1.4	1.3	1.2	0.9	0.8	0.7	0.7	0.7	0.6	0.6	0.6
	INR	ZAR	4.1	3.7	3.3	3.0	2.7	2.2	1.9	1.7	1.6	1.6	1.5	1.5	1.4
	ISK	JPY	7.9	7.1	6.2	5.5	5.0	3.7	3.2	2.7	2.4	2.3	2.2	2.1	2.0
	ISK	PLN	6.1	5.5	4.9	4.4	4.1	3.2	2.9	2.5	2.4	2.3	2.2	2.2	2.1
	ISK	SGD	5.1	4.6	4.1	3.7	3.4	2.7	2.4	2.1	2.0	1.9	1.8	1.8	1.7
	ISK	TWD	5.1	4.6	4.1	3.7	3.4	2.7	2.3	2.1	2.0	1.9	1.8	1.8	1.7
	ISK	USD	4.8	4.3	3.8	3.4	3.1	2.5	2.2	1.9	1.8	1.7	1.7	1.7	1.6
	JPY	KRW	6.9	6.2	5.4	4.8	4.3	3.2	2.7	2.2	2.0	1.9	1.8	1.7	1.6
	JPY	MXN	7.4	6.7	5.8	5.1	4.6	3.4	2.9	2.4	2.2	2.1	1.9	1.9	1.8
	JPY	MYR	6.2	5.6	4.9	4.3	3.8	2.8	2.2	1.8	1.6	1.5	1.3	1.3	1.2
	JPY	NOK	7.3	6.6	5.8	5.1	4.6	3.5	3.0	2.5	2.3	2.2	2.1	2.0	2.0
	JPY	NZD	7.3	6.6	5.7	5.1	4.6	3.4	2.9	2.4	2.3	2.1	2.0	1.9	1.9
	JPY	PHP	6.0	5.4	4.7	4.1	3.7	2.6	2.1	1.7	1.5	1.4	1.3	1.2	1.2
	JPY	PLN	7.0	6.4	5.5	4.9	4.4	3.3	2.8	2.3	2.2	2.0	1.9	1.9	1.8
	JPY	RUB	9.0	8.2	7.2	6.4	5.8	4.5	4.0	3.5	3.3	3.1	3.0	2.9	2.8
	JPY	SEK	7.4	6.7	5.8	5.2	4.7	3.5	3.0	2.5	2.3	2.2	2.1	2.0	2.0
	JPY	SGD	6.1	5.5	4.7	4.2	3.7	2.7	2.2	1.8	1.6	1.5	1.3	1.3	1.2
	JPY	THB	5.8	5.2	4.5	3.9	3.5	2.5	2.0	1.6	1.4	1.3	1.2	1.2	1.1
	JPY	TRY	6.1	5.5	4.8	4.2	3.8	2.8	2.4	2.0	1.8	1.7	1.6	1.6	1.5
	JPY	TWD	6.3	5.7	4.9	4.4	3.9	2.8	2.3	1.9	1.7	1.5	1.4	1.4	1.3
	JPY	USD	6.3	5.7	5.0	4.4	3.9	2.8	2.3	1.8	1.6	1.5	1.4	1.3	1.2
	JPY	ZAR	7.8	7.0	6.1	5.5	4.9	3.7	3.1	2.7	2.5	2.3	2.2	2.1	2.1
	KRW	USD	3.1	2.9	2.5	2.3	2.1	1.7	1.5	1.3	1.3	1.2	1.2	1.1	1.1
	KRO	USD	3.1	2.9	2.5	2.3	2.1	1.7	1.5	1.3	1.3	1.2	1.2	1.1	1.1
	KRW	MXN	3.4	3.1	2.7	2.5	2.3	1.8	1.6	1.4	1.4	1.3	1.3	1.2	1.2
	KRW	MYR	2.7	2.5	2.2	2.0	1.8	1.5	1.3	1.2	1.1	1.0	1.0	1.0	1.0
	KRW	NOK	4.0	3.7	3.3	2.9	2.7	2.2	1.9	1.7	1.6	1.5	1.5	1.5	1.4
	KRW	NZD	3.6	3.3	2.9	2.7	2.4	2.0	1.7	1.5	1.5	1.4	1.3	1.3	1.3
	KRW	PHP	2.6	2.3	2.1	1.9	1.7	1.4	1.2	1.1	1.0	1.0	0.9	0.9	0.9
	KRW	PLN	3.6	3.3	2.9	2.6	2.4	1.9	1.7	1.5	1.4	1.4	1.3	1.3	1.3
	KRW	RUB	7.0	6.4	5.7	5.2	4.7	3.8	3.4	3.0	2.8	2.7	2.6	2.5	2.5
	KRW	SEK	4.2	3.8	3.4	3.1	2.8	2.2	2.0	1.8	1.7	1.6	1.5	1.5	1.5
	KRW	SGD	2.4	2.2	2.0	1.8	1.6	1.3	1.1	1.0	1.0	0.9	0.9	0.9	0.9
	KRW	THB	2.6	2.4	2.1	1.9	1.8	1.4	1.2	1.1	1.0	1.0	1.0	0.9	0.9
	KRW	TRY	3.1	2.8	2.5	2.3	2.1	1.7	1.5	1.3	1.2	1.2	1.1	1.1	1.1
	KRW	TWD	2.4	2.2	1.9	1.8	1.6	1.3	1.1	1.0	1.0	0.9	0.9	0.9	0.9
	KRW	ZAR	3.9	3.6	3.2	2.9	2.6	2.1	1.9	1.7	1.6	1.5	1.5	1.4	1.4
	KWD	RUB	7.3	6.7	5.9	5.4	4.9	3.9	3.5	3.1	2.9	2.8	2.7	2.7	2.6
	KWD	SAR	0.6	0.5	0.5	0.4	0.4	0.3	0.3	0.2	0.2	0.2	0.2	0.2	0.2
	KWD	USD	0.6	0.5	0.5	0.4	0.4	0.3	0.3	0.2	0.2	0.2	0.2	0.2	0.2
	KZT	USD	7.4	6.7	6.0	5.4	5.0	4.0	3.5	3.1	2.9	2.8	2.7	2.7	2.6
	MXN	MYR	3.1	2.8	2.5	2.2	2.1	1.6	1.5	1.3	1.2	1.2	1.1	1.1	1.1
	MXN	NOK	3.8	3.5	3.1	2.8	2.6	2.0	1.8	1.6	1.5	1.5	1.4	1.4	1.4
	MXN	NZD	3.8	3.5	3.1	2.8	2.6	2.1	1.8	1.6	1.5	1.5	1.4	1.4	1.4
	MXN	PHP	3.0	2.8	2.4	2.2	2.0	1.6	1.4	1.3	1.2	1.1	1.1	1.1	1.1
	MXN	PLN	3.6	3.3	2.9	2.6	2.4	1.9	1.7	1.5	1.4	1.4	1.3	1.3	1.3
	MXN	RUB	6.5	6.0	5.3	4.8	4.4	3.5	3.1	2.8	2.6	2.5	2.4	2.4	2.3
	MXN	SEK	4.3	3.9	3.4	3.1	2.9	2.3	2.0	1.8	1.7	1.6	1.6	1.5	1.5
	MXN	SGD	2.9	2.6	2.3	2.1	1.9	1.6	1.4	1.2	1.2	1.1	1.1	1.0	1.0
	MXN	THB	3.0	2.7	2.4	2.2	2.0	1.6	1.4	1.3	1.2	1.1	1.1	1.1	1.1
	MXN	TRY	3.1	2.8	2.5	2.3	2.1	1.6	1.5	1.3	1.2	1.2	1.1	1.1	1.1
	MXN	TWD	3.2	2.9	2.6	2.4	2.2	1.7	1.5	1.4	1.3	1.2	1.2	1.2	1.1
	MXN	USD	3.4	3.1	2.7	2.5	2.3	1.8	1.6	1.4	1.3	1.3	1.2	1.2	1.2
	MXN	ZAR	3.5	3.2	2.9	2.6	2.4	1.9	1.7	1.5	1.4	1.3	1.3	1.3	1.3
	MXV	USD	3.4	3.1	2.7	2.5	2.3	1.8	1.6	1.4	1.3	1.3	1.2	1.2	1.2
	MYR	NOK	4.2	3.8	3.4	3.1	2.8	2.2	2.0	1.8	1.7	1.6	1.5	1.5	1.5
	MYR	NZD	3.7	3.4	3.0	2.7	2.5	2.0	1.8	1.6	1.5	1.4	1.4	1.3	1.3
	MYR	PHP	0.7	0.6	0.6	0.5	0.5	0.4	0.3	0.3	0.3	0.3	0.3	0.3	0.3
	MYR	PLN	3.6	3.3	2.9	2.6	2.4	1.9	1.7	1.5	1.4	1.4	1.3	1.3	1.3
	MYR	RUB	7.1	6.5	5.8	5.2	4.8	3.8	3.4	3.0	2.9	2.7	2.6	2.6	2.5
	MYR	SAR	0.8	0.7	0.6	0.6	0.5	0.4	0.4	0.3	0.3	0.3	0.3	0.3	0.3
	MYR	SEK	4.4	4.0	3.6	3.2	3.0	2.4	2.1	1.9	1.8	1.7	1.6	1.6	1.6
	MYR	SGD	1.3	1.2	1.0	0.9	0.9	0.7	0.6	0.5	0.5	0.5	0.5	0.5	0.5
	MYR	TRY	2.9	2.6	2.3	2.1	1.9	1.5	1.4	1.2	1.1	1.1	1.1	1.0	1.0
	MYR	TWD	1.4	1.3	1.2	1.1	1.0	0.8	0.7	0.6	0.6	0.6	0.5	0.5	0.5
	MYR	USD	0.8	0.7	0.6	0.6	0.5	0.4	0.4	0.3	0.3	0.3	0.3	0.3	0.3
	MYR	ZAR	4.1	3.8	3.3	3.0	2.8	2.2	2.0	1.8	1.7	1.6	1.5	1.5	1.5
	NOK	NZD	3.7	3.4	3.0	2.7	2.5	2.0	1.8	1.6	1.5	1.4	1.4	1.4	1.3
	NOK	PHP	4.1	3.8	3.3	3.0	2.8	2.2	2.0	1.7	1.6	1.6	1.5	1.5	1.5
	NOK	PLN	3.2	2.9	2.6	2.3	2.1	1.7	1.5	1.3	1.3	1.2	1.2	1.2	1.1
	NOK	RUB	6.7	6.1	5.4	4.9	4.5	3.6	3.2	2.8	2.7	2.6	2.5	2.4	2.4
	NOK	SEK	2.8	2.5	2.3	2.0	1.9	1.5	1.3	1.2	1.1	1.1	1.0	1.0	1.0
	NOK	SGD	3.6	3.2	2.9	2.6	2.4	1.9	1.7	1.5	1.4	1.4	1.3	1.3	1.3
	NOK	TRY	3.7	3.3	3.0	2.7	2.4	1.9	1.7	1.5	1.4	1.4	1.3	1.3	1.3
	NOK	TWD	4.0	3.7	3.3	3.0	2.7	2.2	1.9	1.7	1.6	1.5	1.5	1.5	1.4
	NOK	USD	4.6	4.2	3.7	3.3	3.1	2.5	2.2	1.9	1.8	1.7	1.7	1.7	1.6
	NOK	ZAR	3.9	3.6	3.2	2.8	2.6	2.1	1.9	1.6	1.6	1.5	1.4	1.4	1.4
	NZD	PLN	3.5	3.2	2.9	2.6	2.4	1.9	1.7	1.5	1.4	1.4	1.3	1.3	1.3
	NZD	RUB	7.0	6.4	5.7	5.1	4.7	3.8	3.3	3.0	2.8	2.7	2.6	2.5	2.5
	NZD	SEK	3.7	3.4	3.0	2.7	2.5	2.0	1.8	1.6	1.5	1.4	1.4	1.4	1.3
	NZD	SGD	3.2	2.9	2.6	2.3	2.1	1.7	1.5	1.3	1.3	1.2	1.2	1.1	1.1
	NZD	THB	3.5	3.2	2.8	2.6	2.3	1.9	1.7	1.5	1.4	1.3	1.3	1.3	1.2
	NZD	TRY	3.4	3.1	2.7	2.4	2.2	1.8	1.6	1.4	1.3	1.3	1.2	1.2	1.2
	NZD	TWD	3.6	3.3	2.9	2.6	2.4	1.9	1.7	1.5	1.4	1.4	1.3	1.3	1.3
	NZD	USD	4.1	3.7	3.3	3.0	2.8	2.2	2.0	1.7	1.6	1.6	1.5	1.5	1.5
	NZD	ZAR	4.0	3.7	3.2	2.9	2.7	2.2	1.9	1.7	1.6	1.5	1.5	1.5	1.4
	PEN	USD	4.7	4.3	3.8	3.5	3.2	2.6	2.3	2.0	1.9	1.8	1.8	1.7	1.7
	PHP	PLN	3.5	3.2	2.8	2.6	2.4	1.9	1.7	1.5	1.4	1.3	1.3	1.3	1.2
	PHP	RUB	7.2	6.6	5.8	5.3	4.9	3.9	3.4	3.1	2.9	2.8	2.7	2.6	2.6
	PHP	SEK	4.2	3.9	3.4	3.1	2.8	2.3	2.0	1.8	1.7	1.6	1.5	1.5	1.5
	PHP	SGD	1.2	1.1	1.0	0.9	0.8	0.6	0.6	0.5	0.5	0.4	0.4	0.4	0.4
	PHP	TRY	2.9	2.6	2.3	2.1	2.0	1.6	1.4	1.2	1.2	1.1	1.1	1.1	1.0
	PHP	TWD	1.4	1.3	1.1	1.0	0.9	0.7	0.6	0.6	0.5	0.5	0.5	0.5	0.5
	PHP	USD	0.8	0.7	0.7	0.6	0.5	0.4	0.4	0.3	0.3	0.3	0.3	0.3	0.3
	PHP	ZAR	4.1	3.8	3.4	3.0	2.8	2.2	2.0	1.8	1.7	1.6	1.5	1.5	1.5
	PLN	RON	2.7	2.4	2.2	2.0	1.8	1.4	1.3	1.1	1.1	1.0	1.0	1.0	0.9
	PLN	RUB	6.6	6.0	5.4	4.9	4.5	3.6	3.2	2.8	2.6	2.5	2.4	2.4	2.4
	PLN	SEK	2.7	2.5	2.2	2.0	1.8	1.5	1.3	1.1	1.1	1.0	1.0	1.0	1.0
	PLN	SGD	3.0	2.7	2.4	2.2	2.0	1.6	1.4	1.3	1.2	1.1	1.1	1.1	1.1
	PLN	THB	3.5	3.2	2.8	2.6	2.4	1.9	1.7	1.5	1.4	1.3	1.3	1.3	1.2
	PLN	TRY	3.4	3.1	2.7	2.5	2.2	1.8	1.6	1.4	1.3	1.3	1.2	1.2	1.2
	PLN	TWD	3.4	3.1	2.8	2.5	2.3	1.8	1.6	1.4	1.4	1.3	1.3	1.2	1.2
	PLN	USD	3.9	3.6	3.2	2.9	2.6	2.1	1.9	1.7	1.6	1.5	1.5	1.4	1.4
	PLN	ZAR	3.8	3.4	3.0	2.8	2.5	2.0	1.8	1.6	1.5	1.4	1.4	1.4	1.3
	QAR	USD	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
	RON	RUB	7.0	6.4	5.7	5.2	4.7	3.8	3.4	3.0	2.8	2.7	2.6	2.5	2.5
	RON	TRY	3.8	3.4	3.0	2.7	2.5	2.0	1.8	1.6	1.5	1.4	1.4	1.3	1.3
	RON	USD	4.2	3.8	3.4	3.1	2.8	2.2	2.0	1.8	1.7	1.6	1.5	1.5	1.5
	RUB	SAR	7.4	6.7	6.0	5.4	5.0	4.0	3.5	3.1	2.9	2.8	2.7	2.7	2.6
	RUB	SEK	6.8	6.2	5.5	5.0	4.6	3.6	3.2	2.9	2.7	2.6	2.5	2.4	2.4
	RUB	SGD	6.9	6.3	5.6	5.0	4.6	3.7	3.3	2.9	2.8	2.6	2.5	2.5	2.4
	RUB	THB	7.2	6.6	5.8	5.3	4.9	3.9	3.4	3.1	2.9	2.8	2.7	2.6	2.6
	RUB	TRY	7.3	6.6	5.9	5.3	4.9	3.9	3.5	3.1	2.9	2.8	2.7	2.6	2.6
	RUB	TWD	7.0	6.4	5.7	5.2	4.7	3.8	3.4	3.0	2.8	2.7	2.6	2.5	2.5
	RUB	UAH	8.3	7.5	6.7	6.0	5.6	4.4	3.9	3.5	3.3	3.2	3.0	3.0	2.9
	RUB	USD	7.4	6.7	6.0	5.4	5.0	4.0	3.5	3.1	2.9	2.8	2.7	2.7	2.6
	RUB	ZAR	7.0	6.4	5.7	5.1	4.7	3.8	3.3	3.0	2.8	2.7	2.6	2.5	2.5
	SAR	USD	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
	SEK	SGD	3.8	3.4	3.0	2.8	2.5	2.0	1.8	1.6	1.5	1.4	1.4	1.4	1.3
	SEK	THB	4.2	3.8	3.4	3.1	2.8	2.2	2.0	1.8	1.7	1.6	1.5	1.5	1.5
	SEK	TRY	3.7	3.4	3.0	2.7	2.5	2.0	1.7	1.5	1.5	1.4	1.3	1.3	1.3
	SEK	TWD	4.2	3.8	3.4	3.1	2.8	2.2	2.0	1.8	1.7	1.6	1.5	1.5	1.5
	SEK	USD	4.7	4.3	3.8	3.5	3.2	2.6	2.3	2.0	1.9	1.8	1.8	1.7	1.7
	SEK	ZAR	4.2	3.9	3.4	3.1	2.8	2.3	2.0	1.8	1.7	1.6	1.6	1.5	1.5
	SGD	THB	1.2	1.0	0.9	0.8	0.8	0.6	0.5	0.5	0.4	0.4	0.4	0.4	0.4
	SGD	TRY	2.7	2.5	2.2	2.0	1.8	1.5	1.3	1.1	1.1	1.0	1.0	1.0	1.0
	SGD	TWD	1.5	1.4	1.2	1.1	1.0	0.8	0.7	0.6	0.6	0.6	0.6	0.5	0.5
	SGD	USD	1.8	1.7	1.5	1.3	1.2	1.0	0.9	0.8	0.7	0.7	0.7	0.7	0.6
	SGD	ZAR	3.6	3.3	2.9	2.7	2.4	2.0	1.7	1.5	1.5	1.4	1.3	1.3	1.3
	THB	TRY	2.9	2.7	2.4	2.2	2.0	1.6	1.4	1.2	1.2	1.1	1.1	1.1	1.0
	THB	TWD	1.4	1.2	1.1	1.0	0.9	0.7	0.6	0.6	0.5	0.5	0.5	0.5	0.5
	THB	USD	0.9	0.8	0.7	0.6	0.6	0.5	0.4	0.4	0.3	0.3	0.3	0.3	0.3
	THB	ZAR	4.1	3.8	3.3	3.0	2.8	2.2	2.0	1.7	1.6	1.6	1.5	1.5	1.5
	TRY	TWD	2.9	2.7	2.4	2.1	2.0	1.6	1.4	1.2	1.2	1.1	1.1	1.1	1.0
	TRY	USD	3.0	2.8	2.5	2.2	2.0	1.6	1.5	1.3	1.2	1.2	1.1	1.1	1.1
	TRY	ZAR	3.5	3.2	2.8	2.6	2.3	1.9	1.6	1.5	1.4	1.3	1.3	1.3	1.2
	TWD	USD	1.8	1.6	1.5	1.3	1.2	1.0	0.9	0.8	0.7	0.7	0.7	0.7	0.6
	TWD	ZAR	4.0	3.6	3.2	2.9	2.7	2.1	1.9	1.7	1.6	1.5	1.5	1.4	1.4
	UAH	USD	4.2	3.8	3.4	3.1	2.8	2.2	2.0	1.8	1.7	1.6	1.5	1.5	1.5
	USD	VND	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
	USD	XAU	1.1	1.1	1.1	1.1	1.1	1.1	1.1	1.1	1.1	1.1	1.1	1.1	1.1
	USD	ZAR	4.5	4.1	3.6	3.3	3.0	2.4	2.1	1.9	1.8	1.7	1.7	1.6	1.6

---

Sheet 6: Rates DV01

2023 GMS Component: Severely Adverse Scenario
Rates DV01
		M A T U R I T Y
	Rates Shocks (bps)	1M	3M	6M	9M	1Y	2Y	3Y	5Y	7Y	10Y	15Y	20Y	30Y
	AUD Directional Risks
	Governments	(127.7)	(124.8)	(121.1)	(118.0)	(115.4)	(108.7)	(105.1)	(101.7)	(100.1)	(99.0)	(98.1)	(97.6)	(97.2)
	Agencies	(127.7)	(124.8)	(121.1)	(118.0)	(115.4)	(108.7)	(105.1)	(101.7)	(100.1)	(99.0)	(98.1)	(97.6)	(97.2)
	Municipals	(127.7)	(124.8)	(121.1)	(118.0)	(115.4)	(108.7)	(105.1)	(101.7)	(100.1)	(99.0)	(98.1)	(97.6)	(97.2)
	Swaps / Discounting Curve	(123.5)	(120.7)	(117.2)	(114.3)	(111.9)	(105.9)	(102.8)	(100.2)	(99.2)	(98.6)	(98.2)	(98.0)	(97.8)
	Instruments shocked by MV**
	Other	(123.5)	(120.7)	(117.2)	(114.3)	(111.9)	(105.9)	(102.8)	(100.2)	(99.2)	(98.6)	(98.2)	(98.0)	(97.8)
	AUD Basis Risks (Do not include the swap/discounting curve specified above)
	OIS Basis
	1m Basis
	3m Basis
	6m Basis
	12m Basis
	Other Basis
	CAD Directional Risks
	Governments	(115.8)	(112.9)	(108.9)	(105.2)	(101.8)	(90.9)	(83.1)	(73.1)	(67.3)	(62.4)	(58.4)	(56.4)	(54.4)
	Agencies	(115.8)	(112.9)	(108.9)	(105.2)	(101.8)	(90.9)	(83.1)	(73.1)	(67.3)	(62.4)	(58.4)	(56.4)	(54.4)
	Municipals	(115.8)	(112.9)	(108.9)	(105.2)	(101.8)	(90.9)	(83.1)	(73.1)	(67.3)	(62.4)	(58.4)	(56.4)	(54.4)
	Swaps / Discounting Curve	(111.6)	(109.0)	(105.4)	(102.1)	(99.1)	(89.1)	(82.0)	(72.7)	(67.4)	(62.8)	(59.0)	(57.1)	(55.2)
	Instruments shocked by MV**
	Other	(111.6)	(109.0)	(105.4)	(102.1)	(99.1)	(89.1)	(82.0)	(72.7)	(67.4)	(62.8)	(59.0)	(57.1)	(55.2)
	CAD Basis Risks (Do not include the swap/discounting curve specified above)
	OIS Basis
	1m Basis
	3m Basis
	6m Basis
	12m Basis
	Other Basis
	CHF Directional Risks
	Governments	(49.8)	(49.4)	(48.9)	(48.4)	(48.0)	(46.4)	(45.2)	(43.3)	(42.1)	(40.9)	(39.8)	(39.3)	(38.7)
	Agencies	(49.8)	(49.4)	(48.9)	(48.4)	(48.0)	(46.4)	(45.2)	(43.3)	(42.1)	(40.9)	(39.8)	(39.3)	(38.7)
	Municipals	(49.8)	(49.4)	(48.9)	(48.4)	(48.0)	(46.4)	(45.2)	(43.3)	(42.1)	(40.9)	(39.8)	(39.3)	(38.7)
	Swaps / Discounting Curve	(45.6)	(45.5)	(45.3)	(45.1)	(45.0)	(44.3)	(43.7)	(42.7)	(41.9)	(41.1)	(40.3)	(39.9)	(39.5)
	Instruments shocked by MV**
	Other	(45.6)	(45.5)	(45.3)	(45.1)	(45.0)	(44.3)	(43.7)	(42.7)	(41.9)	(41.1)	(40.3)	(39.9)	(39.5)
	CHF Basis Risks (Do not include the swap/discounting curve specified above)
	OIS Basis
	1m Basis
	3m Basis
	6m Basis
	12m Basis
	Other Basis
	DKK Directional Risks
	Governments	(82.0)	(81.1)	(79.9)	(78.7)	(77.6)	(73.7)	(70.6)	(66.1)	(63.0)	(60.1)	(57.4)	(55.9)	(54.5)
	Agencies	(82.0)	(81.1)	(79.9)	(78.7)	(77.6)	(73.7)	(70.6)	(66.1)	(63.0)	(60.1)	(57.4)	(55.9)	(54.5)
	Municipals	(82.0)	(81.1)	(79.9)	(78.7)	(77.6)	(73.7)	(70.6)	(66.1)	(63.0)	(60.1)	(57.4)	(55.9)	(54.5)
	Swaps / Discounting Curve	(77.7)	(77.0)	(76.0)	(75.1)	(74.2)	(71.0)	(68.5)	(64.8)	(62.2)	(59.8)	(57.5)	(56.3)	(55.1)
	Instruments shocked by MV**
	Other	(77.7)	(77.0)	(76.0)	(75.1)	(74.2)	(71.0)	(68.5)	(64.8)	(62.2)	(59.8)	(57.5)	(56.3)	(55.1)
	DKK Basis Risks (Do not include the swap/discounting curve specified above)
	OIS Basis
	1m Basis
	3m Basis
	6m Basis
	12m Basis
	Other Basis
	EUR Directional Risks
	Governments: Austria	(68.3)	(66.2)	(63.4)	(61.1)	(59.1)	(53.8)	(50.9)	(48.0)	(46.7)	(45.7)	(44.9)	(44.5)	(44.1)
	Governments: Belgium	(78.7)	(76.9)	(74.3)	(71.9)	(69.7)	(62.5)	(57.2)	(50.3)	(46.2)	(42.7)	(39.8)	(38.3)	(36.8)
	Governments: Finland	(73.1)	(71.5)	(69.4)	(67.6)	(66.0)	(61.6)	(59.1)	(56.5)	(55.2)	(54.3)	(53.5)	(53.2)	(52.8)
	Governments: France	(81.6)	(79.9)	(77.5)	(75.2)	(73.1)	(66.1)	(60.8)	(53.8)	(49.4)	(45.5)	(42.3)	(40.6)	(38.9)
	Governments: Germany	(103.6)	(101.5)	(98.6)	(95.9)	(93.4)	(85.2)	(79.0)	(70.7)	(65.7)	(61.3)	(57.6)	(55.7)	(53.8)
	Governments: Greece	113.1	128.1	148.8	167.6	184.6	238.9	276.9	324.2	350.9	373.3	391.5	400.6	409.8
	Governments: Ireland	13.1	24.2	39.8	54.1	67.2	109.8	140.6	180.5	203.7	223.6	240.1	248.4	256.7
	Governments: Italy	163.4	176.6	194.9	211.5	226.6	274.6	308.3	350.3	373.9	393.7	409.8	417.9	426.0
	Governments: Netherlands	(101.0)	(98.5)	(95.0)	(91.7)	(88.7)	(79.0)	(71.8)	(62.4)	(56.9)	(52.1)	(48.2)	(46.2)	(44.2)
	Governments: Portugal	206.5	232.0	266.9	298.3	326.5	414.4	473.9	545.3	584.0	615.6	640.9	653.6	666.4
	Governments: Spain	69.4	79.5	93.5	106.4	118.2	156.8	184.8	220.9	242.0	260.1	275.1	282.7	290.2
	Governments: Other	(83.7)	(81.8)	(79.3)	(77.1)	(75.1)	(68.8)	(64.5)	(59.3)	(56.2)	(53.7)	(51.5)	(50.4)	(49.3)
	Agencies	(83.7)	(81.8)	(79.3)	(77.1)	(75.1)	(68.8)	(64.5)	(59.3)	(56.2)	(53.7)	(51.5)	(50.4)	(49.3)
	Municipals	(83.7)	(81.8)	(79.3)	(77.1)	(75.1)	(68.8)	(64.5)	(59.3)	(56.2)	(53.7)	(51.5)	(50.4)	(49.3)
	Swaps / Discounting Curve	(86.4)	(84.7)	(82.2)	(79.9)	(77.9)	(71.2)	(66.4)	(60.6)	(57.5)	(55.4)	(54.3)	(54.1)	(54.1)
	Instruments shocked by MV**
	Other	(86.4)	(84.7)	(82.2)	(79.9)	(77.9)	(71.2)	(66.4)	(60.6)	(57.5)	(55.4)	(54.3)	(54.1)	(54.1)
	EUR Basis Risks (Do not include the swap/discounting curve specified above)
	OIS Basis
	1m Basis	20.0	20.0	20.0	20.0	15.0	14.0	12.0	10.0	8.0	7.0	6.0	6.0	6.0
	3m Basis	25.0	25.0	25.0	25.0	18.0	18.0	15.0	14.0	13.0	11.0	11.0	10.0	9.0
	6m Basis	30.0	30.0	30.0	30.0	20.0	19.0	17.0	15.0	13.0	11.0	11.0	11.0	10.0
	12m Basis	30.0	30.0	30.0	30.0	20.0	19.0	17.0	15.0	13.0	11.0	11.0	11.0	10.0
	Other Basis	30.0	30.0	30.0	30.0	20.0	19.0	17.0	15.0	13.0	11.0	11.0	11.0	10.0
	GBP Directional Risks
	Governments	(101.6)	(99.0)	(95.5)	(92.4)	(89.6)	(81.2)	(75.6)	(69.3)	(66.0)	(63.4)	(61.3)	(60.2)	(59.2)
	Agencies	(101.6)	(99.0)	(95.5)	(92.4)	(89.6)	(81.2)	(75.6)	(69.3)	(66.0)	(63.4)	(61.3)	(60.2)	(59.2)
	Municipals	(101.6)	(99.0)	(95.5)	(92.4)	(89.6)	(81.2)	(75.6)	(69.3)	(66.0)	(63.4)	(61.3)	(60.2)	(59.2)
	Swaps / Discounting Curve	(101.6)	(99.0)	(95.5)	(92.4)	(89.6)	(81.2)	(75.6)	(69.3)	(66.0)	(63.4)	(61.3)	(60.2)	(59.2)
	Instruments shocked by MV**
	Other	(101.6)	(99.0)	(95.5)	(92.4)	(89.6)	(81.2)	(75.6)	(69.3)	(66.0)	(63.4)	(61.3)	(60.2)	(59.2)
	GBP Basis Risks (Do not include the swap/discounting curve specified above)
	OIS Basis
	1m Basis	25.0	25.0	23.0	18.0	14.0	9.0	9.0	8.0	8.0	6.0	6.0	6.0	6.0
	3m Basis	30.0	30.0	28.0	20.0	15.0	10.0	10.0	8.0	8.0	6.0	6.0	6.0	6.0
	6m Basis	30.0	30.0	28.0	20.0	15.0	10.0	10.0	8.0	8.0	6.0	6.0	6.0	6.0
	12m Basis	30.0	30.0	28.0	20.0	15.0	10.0	10.0	8.0	8.0	6.0	6.0	6.0	6.0
	Other Basis	30.0	30.0	28.0	20.0	15.0	10.0	10.0	8.0	8.0	6.0	6.0	6.0	6.0
	JPY Directional Risks
	Governments	(11.0)	(11.3)	(11.7)	(12.0)	(12.4)	(13.5)	(14.5)	(15.9)	(16.9)	(17.9)	(18.8)	(19.2)	(19.7)
	Agencies	(11.0)	(11.3)	(11.7)	(12.0)	(12.4)	(13.5)	(14.5)	(15.9)	(16.9)	(17.9)	(18.8)	(19.2)	(19.7)
	Municipals	(11.0)	(11.3)	(11.7)	(12.0)	(12.4)	(13.5)	(14.5)	(15.9)	(16.9)	(17.9)	(18.8)	(19.2)	(19.7)
	Swaps / Discounting Curve	(11.0)	(11.3)	(11.7)	(12.0)	(12.4)	(13.5)	(14.5)	(15.9)	(16.9)	(17.9)	(18.8)	(19.2)	(19.7)
	Instruments shocked by MV**
	Other	(11.0)	(11.3)	(11.7)	(12.0)	(12.4)	(13.5)	(14.5)	(15.9)	(16.9)	(17.9)	(18.8)	(19.2)	(19.7)
	JPY Basis Risks (Do not include the swap/discounting curve specified above)
	OIS Basis
	1m Basis
	3m Basis
	6m Basis
	12m Basis
	Other Basis
	NOK Directional Risks
	Governments	(98.8)	(95.9)	(92.2)	(89.0)	(86.4)	(79.1)	(75.1)	(71.1)	(69.2)	(67.8)	(66.7)	(66.1)	(65.6)
	Agencies	(98.8)	(95.9)	(92.2)	(89.0)	(86.4)	(79.1)	(75.1)	(71.1)	(69.2)	(67.8)	(66.7)	(66.1)	(65.6)
	Municipals	(98.8)	(95.9)	(92.2)	(89.0)	(86.4)	(79.1)	(75.1)	(71.1)	(69.2)	(67.8)	(66.7)	(66.1)	(65.6)
	Swaps / Discounting Curve	(95.1)	(93.2)	(90.5)	(88.0)	(85.8)	(79.4)	(75.6)	(71.8)	(70.1)	(68.7)	(67.7)	(67.2)	(66.6)
	Instruments shocked by MV**
	Other	(95.1)	(93.2)	(90.5)	(88.0)	(85.8)	(79.4)	(75.6)	(71.8)	(70.1)	(68.7)	(67.7)	(67.2)	(66.6)
	NOK Basis Risks (Do not include the swap/discounting curve specified above)
	OIS Basis
	1m Basis
	3m Basis
	6m Basis
	12m Basis
	Other Basis
	NZD Directional Risks
	Governments	(98.8)	(97.8)	(96.6)	(95.5)	(94.7)	(92.5)	(91.4)	(90.3)	(89.8)	(89.5)	(89.2)	(89.0)	(88.9)
	Agencies	(98.8)	(97.8)	(96.6)	(95.5)	(94.7)	(92.5)	(91.4)	(90.3)	(89.8)	(89.5)	(89.2)	(89.0)	(88.9)
	Municipals	(98.8)	(97.8)	(96.6)	(95.5)	(94.7)	(92.5)	(91.4)	(90.3)	(89.8)	(89.5)	(89.2)	(89.0)	(88.9)
	Swaps / Discounting Curve	(95.3)	(95.5)	(95.4)	(95.0)	(94.5)	(93.0)	(92.1)	(91.2)	(90.8)	(90.5)	(90.2)	(90.1)	(90.0)
	Instruments shocked by MV**
	Other	(95.3)	(95.5)	(95.4)	(95.0)	(94.5)	(93.0)	(92.1)	(91.2)	(90.8)	(90.5)	(90.2)	(90.1)	(90.0)
	NZD Basis Risks (Do not include the swap/discounting curve specified above)
	OIS Basis
	1m Basis
	3m Basis
	6m Basis
	12m Basis
	Other Basis
	SEK Directional Risks
	Governments	(82.1)	(80.4)	(78.0)	(75.9)	(74.0)	(68.3)	(64.6)	(60.3)	(58.1)	(56.4)	(55.0)	(54.3)	(53.6)
	Agencies	(82.1)	(80.4)	(78.0)	(75.9)	(74.0)	(68.3)	(64.6)	(60.3)	(58.1)	(56.4)	(55.0)	(54.3)	(53.6)
	Municipals	(82.1)	(80.4)	(78.0)	(75.9)	(74.0)	(68.3)	(64.6)	(60.3)	(58.1)	(56.4)	(55.0)	(54.3)	(53.6)
	Swaps / Discounting Curve	(78.0)	(76.5)	(74.5)	(72.7)	(71.1)	(66.4)	(63.3)	(59.9)	(58.1)	(56.7)	(55.6)	(55.0)	(54.5)
	Instruments shocked by MV**
	Other	(78.0)	(76.5)	(74.5)	(72.7)	(71.1)	(66.4)	(63.3)	(59.9)	(58.1)	(56.7)	(55.6)	(55.0)	(54.5)
	SEK Basis Risks (Do not include the swap/discounting curve specified above)
	OIS Basis
	1m Basis
	3m Basis
	6m Basis
	12m Basis
	Other Basis
	USD Directional Risks
	Governments	(176.6)	(171.7)	(164.8)	(158.5)	(152.8)	(134.6)	(121.7)	(105.6)	(96.6)	(89.0)	(82.8)	(79.7)	(76.6)
	Agencies	(176.6)	(171.7)	(164.8)	(158.5)	(152.8)	(134.6)	(121.7)	(105.6)	(96.6)	(89.0)	(82.8)	(79.7)	(76.6)
	Municipals	(176.6)	(171.7)	(164.8)	(158.5)	(152.8)	(134.6)	(121.7)	(105.6)	(96.6)	(89.0)	(82.8)	(79.7)	(76.6)
	Swaps / Discounting Curve	(176.6)	(171.7)	(164.8)	(158.5)	(152.8)	(134.6)	(121.7)	(105.6)	(96.6)	(89.0)	(82.8)	(79.7)	(76.6)
	Instruments shocked by MV**
	Other	(176.6)	(171.7)	(164.8)	(158.5)	(152.8)	(134.6)	(121.7)	(105.6)	(96.6)	(89.0)	(82.8)	(79.7)	(76.6)
	USD Basis Risks (Do not include the swap/discounting curve specified above)
	Prime Basis	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
	CP Basis	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
	OIS Basis
	1m Basis	49.0	49.0	25.0	19.0	17.0	15.0	10.0	6.0	5.0	4.0	4.0	4.0	4.0
	3m Basis	72.0	72.0	44.0	32.0	30.0	20.0	15.0	9.0	8.0	8.0	5.0	5.0	5.0
	6m Basis	80.0	80.0	80.0	42.0	39.0	26.0	18.0	12.0	10.0	9.0	6.0	6.0	6.0
	12m Basis	80.0	80.0	80.0	42.0	39.0	26.0	18.0	12.0	10.0	9.0	6.0	6.0	6.0
	Other Basis	72.0	72.0	44.0	32.0	30.0	20.0	15.0	9.0	8.0	8.0	5.0	5.0	5.0
	Absolute increase in Muni SIFMA/Libor Ratio (Pts)	26.4	26.4	26.4	26.4	26.4	26.4	26.4	26.4	26.4	26.4	26.4	26.4	26.4
	Other Advanced Economies Directional Risks
	Governments	(176.6)	(171.7)	(164.8)	(158.5)	(152.8)	(134.6)	(121.7)	(105.6)	(96.6)	(89.0)	(82.8)	(79.7)	(76.6)
	Agencies	(176.6)	(171.7)	(164.8)	(158.5)	(152.8)	(134.6)	(121.7)	(105.6)	(96.6)	(89.0)	(82.8)	(79.7)	(76.6)
	Municipals	(176.6)	(171.7)	(164.8)	(158.5)	(152.8)	(134.6)	(121.7)	(105.6)	(96.6)	(89.0)	(82.8)	(79.7)	(76.6)
	Swaps / Discounting Curve	(176.6)	(171.7)	(164.8)	(158.5)	(152.8)	(134.6)	(121.7)	(105.6)	(96.6)	(89.0)	(82.8)	(79.7)	(76.6)
	Instruments shocked by MV**
	Other	(176.6)	(171.7)	(164.8)	(158.5)	(152.8)	(134.6)	(121.7)	(105.6)	(96.6)	(89.0)	(82.8)	(79.7)	(76.6)
	Directional Risks: Emerging Europe
	BGN	57.6	62.9	70.3	77.3	83.9	106.5	124.2	149.5	166.2	181.9	196.1	203.7	211.3
	CZK	57.6	62.9	70.3	77.3	83.9	106.5	124.2	149.5	166.2	181.9	196.1	203.7	211.3
	HRK	57.6	62.9	70.3	77.3	83.9	106.5	124.2	149.5	166.2	181.9	196.1	203.7	211.3
	HUF	57.6	62.9	70.3	77.3	83.9	106.5	124.2	149.5	166.2	181.9	196.1	203.7	211.3
	PLN	36.5	40.5	46.2	51.5	56.4	73.0	85.7	103.4	114.6	124.9	133.8	138.4	143.1
	RON	57.6	62.9	70.3	77.3	83.9	106.5	124.2	149.5	166.2	181.9	196.1	203.7	211.3
	RUB	209.9	239.3	276.6	307.2	332.4	397.9	432.1	464.3	478.8	489.8	498.3	502.6	506.8
	Other Emerging Europe	58.6	63.8	71.3	78.2	84.8	107.2	124.8	150.0	166.6	182.3	196.4	203.9	211.5
	Directional Risks: Latin America & Caribbean
	ARS	209.9	239.3	276.6	307.2	332.4	397.9	432.1	464.3	478.8	489.8	498.3	502.6	506.8
	BRL	209.9	239.3	276.6	307.2	332.4	397.9	432.1	464.3	478.8	489.8	498.3	502.6	506.8
	CLP	209.9	239.3	276.6	307.2	332.4	397.9	432.1	464.3	478.8	489.8	498.3	502.6	506.8
	COP	209.9	239.3	276.6	307.2	332.4	397.9	432.1	464.3	478.8	489.8	498.3	502.6	506.8
	MXN	209.9	239.3	276.6	307.2	332.4	397.9	432.1	464.3	478.8	489.8	498.3	502.6	506.8
	PEN	209.9	239.3	276.6	307.2	332.4	397.9	432.1	464.3	478.8	489.8	498.3	502.6	506.8
	VEF	209.9	239.3	276.6	307.2	332.4	397.9	432.1	464.3	478.8	489.8	498.3	502.6	506.8
	Other Latam & Caribbean	209.9	239.3	276.6	307.2	332.4	397.9	432.1	464.3	478.8	489.8	498.3	502.6	506.8
	Directional Risks: Asia Ex-Japan
	CNY	(64.1)	(62.8)	(61.0)	(59.3)	(57.8)	(52.9)	(49.3)	(44.7)	(42.0)	(39.7)	(37.8)	(36.8)	(35.9)
	HKD	(72.4)	(70.6)	(68.2)	(66.1)	(64.3)	(59.2)	(56.2)	(53.0)	(51.5)	(50.3)	(49.3)	(48.9)	(48.4)
	IDR	(77.4)	(75.9)	(74.0)	(72.4)	(70.9)	(66.7)	(64.1)	(61.1)	(59.6)	(58.3)	(57.3)	(56.8)	(56.2)
	INR	(77.4)	(75.9)	(74.0)	(72.4)	(70.9)	(66.7)	(64.1)	(61.1)	(59.6)	(58.3)	(57.3)	(56.8)	(56.2)
	KRW	(34.9)	(34.4)	(33.5)	(32.8)	(32.1)	(29.8)	(28.1)	(25.9)	(24.6)	(23.4)	(22.5)	(22.0)	(21.5)
	MYR	(77.4)	(75.9)	(74.0)	(72.4)	(70.9)	(66.7)	(64.1)	(61.1)	(59.6)	(58.3)	(57.3)	(56.8)	(56.2)
	PHP	(77.4)	(75.9)	(74.0)	(72.4)	(70.9)	(66.7)	(64.1)	(61.1)	(59.6)	(58.3)	(57.3)	(56.8)	(56.2)
	SGD	(93.2)	(91.8)	(89.8)	(88.0)	(86.3)	(81.1)	(77.4)	(72.8)	(70.2)	(68.1)	(66.3)	(65.4)	(64.6)
	THB	(50.6)	(49.5)	(48.0)	(46.8)	(45.7)	(42.8)	(41.2)	(39.5)	(38.8)	(38.2)	(37.8)	(37.5)	(37.3)
	TWD	(72.4)	(70.6)	(68.2)	(66.1)	(64.3)	(59.2)	(56.2)	(53.0)	(51.5)	(50.3)	(49.3)	(48.9)	(48.4)
	Other Asia Ex-Japan	(77.4)	(75.9)	(74.0)	(72.4)	(70.9)	(66.7)	(64.1)	(61.1)	(59.6)	(58.3)	(57.3)	(56.8)	(56.2)
	Directional Risks: Middle East/North Africa
	ILS	(56.4)	(55.1)	(53.5)	(52.1)	(50.8)	(47.0)	(44.7)	(42.2)	(40.9)	(39.9)	(39.1)	(38.7)	(38.3)
	TRY	113.4	118.5	125.1	130.6	135.4	148.5	155.9	163.4	166.9	169.6	171.6	172.7	173.7
	Other Middle East/Africa	113.4	118.5	125.1	130.6	135.4	148.5	155.9	163.4	166.9	169.6	171.6	172.7	173.7
	Directional Risks: Sub-Saharan Africa
	ZAR	298.2	298.0	297.7	297.3	297.0	295.7	294.5	292.3	290.4	288.0	284.8	282.5	279.5
	Other Sub-Saharan Africa	298.2	298.0	297.7	297.3	297.0	295.7	294.5	292.3	290.4	288.0	284.8	282.5	279.5

---

Sheet 7: Rates Vega-Normal & Relative

2023 GMS Component: Severely Adverse Scenario
Rates Vega
	Relative Normal Interest Rate Shocks (%)
			M A T U R I T Y
			1M	3M	6M	9M	1Y	2Y	3Y	5Y	7Y	10Y	15Y	20Y	25Y	30Y
		AUD
	E X P I R Y	1M	22.6%	22.1%	21.5%	20.9%	20.4%	18.1%	16.4%	14.2%	13.1%	12.6%	12.6%	12.6%	12.5%	12.5%
		3M	20.6%	20.1%	19.5%	18.9%	18.6%	16.7%	15.6%	14.0%	13.3%	13.1%	13.0%	12.9%	12.9%	12.9%
		6M	17.7%	17.2%	16.7%	16.2%	15.8%	14.9%	14.0%	13.0%	12.3%	12.4%	12.3%	12.2%	12.2%	12.2%
		9M	15.3%	14.9%	14.4%	14.0%	13.6%	13.0%	12.5%	12.1%	11.6%	11.9%	11.8%	11.7%	11.7%	11.7%
		1Y	13.4%	13.0%	12.6%	12.2%	11.8%	11.4%	11.4%	11.4%	11.1%	11.5%	11.3%	11.3%	11.3%	11.2%
		2Y	12.2%	11.8%	11.3%	10.9%	10.5%	10.0%	9.9%	9.4%	9.6%	10.3%	10.2%	10.1%	10.1%	10.1%
		3Y	11.8%	11.4%	10.8%	10.4%	10.0%	9.3%	8.8%	8.5%	8.8%	9.1%	9.0%	9.0%	8.9%	8.9%
		5Y	11.7%	11.2%	10.6%	10.1%	9.7%	8.6%	8.2%	7.9%	8.0%	8.1%	8.0%	7.9%	7.9%	7.9%
		7Y	12.9%	12.3%	11.6%	10.9%	10.5%	9.0%	8.5%	7.9%	7.9%	8.0%	7.9%	7.8%	7.8%	7.8%
		10Y	14.1%	13.5%	12.7%	12.0%	11.4%	10.0%	9.2%	8.4%	8.3%	8.5%	8.3%	8.2%	8.2%	8.0%
		15Y	13.6%	13.0%	12.1%	11.5%	10.9%	9.3%	8.6%	7.8%	7.7%	7.8%	7.6%	7.5%	7.5%	7.5%
		20Y	13.2%	12.6%	11.9%	11.1%	10.5%	9.1%	8.3%	7.5%	7.3%	7.5%	7.3%	7.2%	7.2%	7.1%
		30Y	13.0%	12.4%	11.6%	10.9%	10.3%	8.8%	8.0%	7.3%	7.1%	7.1%	6.9%	6.9%	6.8%	6.8%
		EUR
	E X P I R Y	1M	6.2%	6.3%	6.3%	6.3%	6.4%	5.6%	5.9%	5.7%	6.0%	6.1%	6.4%	6.7%	6.8%	6.9%
		3M	5.8%	5.8%	5.8%	5.9%	5.9%	5.5%	5.7%	5.7%	5.8%	6.0%	6.3%	6.5%	6.6%	6.7%
		6M	5.4%	5.4%	5.4%	5.5%	5.5%	5.2%	5.5%	5.5%	5.7%	5.9%	6.1%	6.3%	6.4%	6.5%
		9M	5.0%	5.0%	5.1%	5.1%	5.1%	5.0%	5.2%	5.3%	5.5%	5.7%	5.8%	6.0%	6.2%	6.2%
		1Y	4.7%	4.7%	4.7%	4.8%	4.9%	4.8%	5.0%	5.1%	5.3%	5.4%	5.6%	5.9%	5.9%	6.0%
		2Y	3.6%	3.6%	3.7%	3.7%	3.8%	3.9%	4.1%	4.4%	4.5%	4.8%	5.0%	5.1%	5.3%	5.3%
		3Y	3.0%	3.1%	3.1%	3.2%	3.2%	3.4%	3.5%	3.9%	4.1%	4.3%	4.6%	4.8%	4.9%	4.9%
		5Y	2.3%	2.4%	2.4%	2.5%	2.6%	2.7%	3.0%	3.3%	3.6%	3.9%	4.2%	4.4%	4.5%	4.7%
		7Y	2.0%	2.1%	2.1%	2.2%	2.3%	2.5%	2.7%	3.1%	3.4%	3.7%	4.1%	4.3%	4.4%	4.7%
		10Y	1.9%	1.9%	2.0%	2.0%	2.1%	2.2%	2.5%	2.9%	3.2%	3.6%	4.1%	4.3%	4.6%	4.7%
		15Y	1.7%	1.7%	1.8%	1.9%	1.9%	2.1%	2.4%	2.9%	3.2%	3.7%	4.2%	4.6%	4.8%	5.0%
		20Y	1.7%	1.7%	1.8%	1.9%	1.9%	2.3%	2.5%	3.0%	3.3%	3.9%	4.4%	4.9%	5.1%	5.3%
		30Y	1.6%	1.7%	1.7%	1.9%	2.0%	2.3%	2.5%	3.1%	3.6%	4.2%	4.9%	5.5%	5.8%	6.1%
		GBP
	E X P I R Y	1M	3.3%	3.3%	3.3%	3.2%	3.2%	3.0%	3.0%	3.3%	3.4%	3.7%	3.8%	4.0%	4.0%	4.0%
		3M	3.5%	3.5%	3.4%	3.4%	3.3%	3.1%	3.2%	3.4%	3.6%	3.9%	4.0%	4.2%	4.3%	4.3%
		6M	3.4%	3.3%	3.3%	3.2%	3.2%	3.0%	3.0%	3.3%	3.4%	3.8%	4.0%	4.2%	4.2%	4.3%
		9M	3.2%	3.2%	3.1%	3.1%	3.1%	2.9%	2.9%	3.1%	3.3%	3.6%	3.8%	4.0%	4.0%	4.1%
		1Y	3.0%	3.0%	3.0%	2.9%	2.9%	2.8%	2.9%	3.0%	3.1%	3.5%	3.7%	3.8%	3.9%	4.0%
		2Y	2.5%	2.5%	2.4%	2.4%	2.3%	2.2%	2.2%	2.4%	2.4%	2.7%	3.0%	3.2%	3.3%	3.5%
		3Y	2.2%	2.2%	2.1%	2.1%	2.0%	1.9%	1.9%	2.0%	2.1%	2.5%	2.8%	3.0%	3.2%	3.4%
		5Y	2.2%	2.1%	2.1%	2.0%	2.0%	1.7%	1.7%	1.8%	1.9%	2.3%	2.6%	2.9%	3.1%	3.4%
		7Y	2.2%	2.2%	2.1%	2.0%	2.0%	1.7%	1.7%	1.8%	1.9%	2.3%	2.8%	3.2%	3.5%	3.8%
		10Y	2.6%	2.5%	2.3%	2.3%	2.2%	2.0%	1.9%	1.9%	2.0%	2.4%	3.0%	3.5%	4.0%	4.4%
		15Y	2.7%	2.6%	2.5%	2.4%	2.3%	2.0%	1.9%	1.9%	2.1%	2.5%	3.1%	3.7%	4.2%	4.8%
		20Y	2.9%	2.8%	2.6%	2.5%	2.5%	2.2%	2.1%	2.0%	2.2%	2.6%	3.2%	3.9%	4.6%	5.0%
		30Y	3.1%	3.0%	2.9%	2.7%	2.6%	2.3%	2.2%	2.2%	2.2%	2.6%	3.3%	4.2%	4.8%	5.4%
		JPY
	E X P I R Y	1M	44.3%	43.8%	42.5%	41.6%	40.3%	33.7%	28.1%	17.9%	13.7%	9.9%	7.3%	5.9%	5.4%	5.0%
		3M	39.0%	38.6%	37.4%	36.6%	35.5%	30.7%	25.1%	15.5%	12.1%	9.1%	6.9%	5.6%	5.2%	4.9%
		6M	33.7%	33.0%	32.0%	31.3%	30.7%	26.3%	21.9%	15.0%	12.0%	9.1%	7.0%	5.7%	5.3%	5.0%
		9M	29.4%	28.8%	28.3%	27.4%	26.8%	23.7%	20.1%	14.9%	12.0%	9.4%	7.2%	6.0%	5.7%	5.4%
		1Y	26.5%	26.0%	25.5%	24.7%	24.2%	21.7%	18.7%	14.7%	11.9%	9.7%	7.5%	6.4%	5.9%	5.6%
		2Y	25.3%	24.9%	24.4%	23.7%	23.2%	21.1%	19.1%	15.7%	13.3%	11.1%	9.1%	7.4%	7.1%	6.7%
		3Y	25.4%	25.0%	24.5%	23.8%	23.4%	21.1%	19.3%	16.4%	14.5%	12.5%	10.4%	8.4%	7.9%	7.7%
		5Y	25.8%	25.5%	24.9%	24.4%	23.7%	21.7%	20.1%	17.8%	16.0%	13.9%	11.7%	9.8%	9.2%	8.9%
		7Y	27.1%	26.8%	26.1%	25.7%	25.0%	22.9%	21.1%	18.6%	16.7%	14.8%	12.4%	10.5%	9.9%	9.5%
		10Y	29.0%	28.5%	28.0%	27.3%	26.8%	24.3%	22.4%	19.6%	17.6%	15.5%	12.8%	11.0%	10.6%	10.1%
		15Y	29.5%	29.2%	28.5%	28.0%	27.2%	24.8%	22.7%	19.6%	17.6%	15.6%	13.0%	11.4%	10.8%	10.4%
		20Y	29.6%	29.1%	28.6%	27.9%	27.4%	24.7%	22.5%	19.5%	17.6%	15.6%	13.4%	11.4%	10.8%	10.6%
		30Y	29.9%	29.4%	28.6%	28.1%	27.6%	24.9%	22.8%	19.5%	17.6%	15.6%	13.4%	11.6%	11.0%	10.6%
		USD
	E X P I R Y	1M	17.1%	16.9%	16.6%	16.3%	16.0%	15.5%	14.8%	13.4%	13.5%	13.3%	14.6%	15.3%	15.7%	16.3%
		3M	17.0%	16.8%	16.5%	16.1%	15.8%	12.9%	13.0%	14.0%	13.7%	13.4%	14.1%	14.6%	15.4%	16.1%
		6M	16.6%	16.3%	16.0%	15.6%	15.3%	12.9%	12.7%	13.3%	13.2%	13.2%	13.7%	14.2%	14.5%	15.1%
		9M	15.7%	15.5%	15.1%	14.8%	14.5%	12.1%	11.9%	12.3%	12.5%	12.6%	13.0%	13.7%	14.0%	14.6%
		1Y	14.4%	14.1%	13.8%	13.5%	13.2%	12.5%	11.9%	11.8%	12.0%	12.2%	12.5%	13.1%	13.3%	13.7%
		2Y	12.9%	12.7%	12.3%	12.0%	11.7%	10.7%	10.4%	10.0%	10.0%	10.2%	10.3%	10.7%	11.0%	11.0%
		3Y	12.2%	12.0%	11.6%	11.2%	10.9%	10.1%	9.7%	9.1%	8.9%	8.9%	8.8%	9.0%	9.3%	9.3%
		5Y	11.9%	11.6%	11.1%	10.7%	10.3%	9.6%	8.6%	7.8%	7.5%	7.2%	7.0%	7.1%	7.3%	7.1%
		7Y	12.4%	12.0%	11.6%	11.1%	10.6%	9.6%	8.6%	7.5%	6.8%	6.3%	5.9%	5.9%	6.0%	5.8%
		10Y	13.1%	12.7%	12.1%	11.6%	11.1%	9.6%	8.5%	7.1%	6.4%	5.6%	5.3%	5.2%	5.2%	5.0%
		15Y	14.4%	14.0%	13.2%	12.7%	12.1%	10.3%	8.9%	7.1%	6.1%	5.2%	4.7%	4.6%	4.3%	4.2%
		20Y	15.9%	15.3%	14.5%	13.8%	13.1%	10.3%	8.7%	6.7%	6.0%	5.0%	4.3%	4.0%	3.9%	3.6%
		30Y	15.9%	15.3%	14.5%	13.7%	13.0%	11.2%	9.4%	7.0%	5.7%	4.6%	3.8%	3.2%	2.6%	2.2%
		US MBS Vega
		Other Advanced Economies
	E X P I R Y	1M	14.6%	14.4%	14.2%	14.0%	13.8%	12.4%	11.3%	9.7%	8.7%	8.3%	8.2%	8.1%	8.1%	8.1%
		3M	13.3%	13.1%	13.0%	12.8%	12.6%	11.6%	10.8%	9.6%	8.9%	8.6%	8.5%	8.4%	8.4%	8.3%
		6M	11.5%	11.3%	11.1%	11.0%	10.8%	10.3%	9.7%	8.9%	8.3%	8.2%	8.0%	8.0%	8.0%	7.9%
		9M	9.9%	9.8%	9.6%	9.5%	9.3%	9.1%	8.7%	8.4%	7.8%	7.9%	7.8%	7.7%	7.7%	7.6%
		1Y	8.7%	8.6%	8.4%	8.3%	8.2%	8.1%	8.0%	7.9%	7.6%	7.6%	7.5%	7.4%	7.4%	7.3%
		2Y	7.9%	7.8%	7.6%	7.5%	7.3%	7.2%	7.2%	6.6%	6.7%	7.0%	6.7%	6.7%	6.6%	6.6%
		3Y	7.7%	7.6%	7.4%	7.3%	7.1%	6.8%	6.5%	6.2%	6.2%	6.2%	6.0%	5.9%	5.9%	5.8%
		5Y	7.6%	7.5%	7.3%	7.1%	7.0%	6.4%	6.2%	5.9%	5.8%	5.6%	5.4%	5.3%	5.3%	5.2%
		7Y	8.4%	8.3%	8.0%	7.8%	7.5%	6.9%	6.5%	5.9%	5.8%	5.6%	5.3%	5.3%	5.1%	5.1%
		10Y	9.3%	9.0%	8.8%	8.5%	8.3%	7.7%	7.2%	6.3%	6.1%	5.8%	5.5%	5.4%	5.4%	5.4%
		15Y	8.9%	8.7%	8.4%	8.2%	7.9%	7.2%	6.8%	6.0%	5.6%	5.4%	5.1%	5.0%	5.0%	5.0%
		20Y	8.7%	8.5%	8.2%	7.9%	7.7%	7.1%	6.5%	5.8%	5.5%	5.3%	5.0%	4.9%	4.7%	4.7%
		30Y	8.5%	8.3%	8.0%	7.8%	7.5%	6.8%	6.3%	5.6%	5.2%	5.0%	4.7%	4.6%	4.6%	4.4%
		Total Emerging Europe
	E X P I R Y	1M	13.2%	13.0%	12.8%	12.6%	12.4%	12.6%	13.4%	13.9%	14.1%	14.5%	14.8%	15.7%	16.5%	17.3%
		3M	12.9%	12.7%	12.5%	12.3%	12.1%	12.4%	13.1%	13.5%	13.7%	13.9%	14.1%	15.0%	15.8%	16.5%
		6M	12.7%	12.6%	12.3%	12.1%	11.9%	12.3%	12.8%	13.0%	13.0%	13.1%	13.3%	14.1%	14.9%	15.6%
		9M	12.8%	12.6%	12.3%	12.1%	11.9%	12.3%	12.5%	12.5%	12.4%	12.5%	12.6%	13.3%	14.0%	14.7%
		1Y	13.2%	13.0%	12.7%	12.5%	12.2%	12.5%	12.4%	12.0%	11.8%	11.9%	12.0%	12.7%	13.3%	13.9%
		2Y	14.5%	14.3%	13.8%	13.6%	13.2%	12.0%	11.3%	10.4%	10.1%	10.0%	10.0%	10.5%	11.0%	11.5%
		3Y	13.2%	12.9%	12.6%	12.2%	11.8%	10.5%	9.8%	9.0%	8.7%	8.6%	8.6%	9.1%	9.6%	10.0%
		5Y	11.7%	11.4%	10.9%	10.6%	10.3%	9.2%	8.5%	7.8%	7.5%	7.0%	7.4%	7.9%	8.2%	8.6%
		7Y	11.0%	10.7%	10.3%	10.0%	9.7%	8.7%	8.2%	7.4%	6.8%	6.7%	7.1%	7.5%	7.8%	8.2%
		10Y	11.7%	11.4%	11.0%	10.6%	10.3%	9.0%	7.8%	6.7%	6.7%	6.8%	7.2%	7.6%	7.8%	8.2%
		15Y	14.1%	13.8%	13.1%	12.7%	12.2%	10.8%	9.9%	8.9%	8.5%	8.3%	8.5%	8.7%	9.0%	9.3%
		20Y	16.3%	15.8%	15.3%	14.7%	14.2%	12.3%	11.3%	10.2%	9.7%	9.3%	9.5%	9.7%	10.0%	10.3%
		30Y	21.1%	20.5%	19.7%	18.9%	18.2%	15.9%	14.5%	12.7%	12.0%	11.7%	11.5%	11.7%	12.1%	12.3%
		Total Latam & Caribbean
	E X P I R Y	1M	33.2%	32.8%	32.2%	31.6%	31.1%	26.7%	28.3%	31.8%	30.3%	28.4%	27.7%	27.3%	27.0%	26.9%
		3M	30.7%	30.2%	29.7%	29.2%	28.7%	24.7%	26.3%	29.4%	27.9%	26.3%	25.7%	25.5%	25.2%	25.3%
		6M	29.7%	29.3%	28.7%	28.2%	27.7%	23.6%	24.9%	27.4%	26.0%	24.4%	23.9%	23.6%	23.5%	23.6%
		9M	31.4%	30.9%	30.3%	29.7%	29.2%	22.9%	23.7%	25.3%	24.1%	22.9%	22.3%	22.1%	21.9%	22.0%
		1Y	34.0%	33.5%	32.7%	32.0%	31.4%	22.5%	22.8%	23.6%	22.5%	21.6%	21.1%	20.8%	20.6%	20.8%
		2Y	30.4%	29.8%	29.1%	28.3%	27.7%	20.3%	19.7%	19.5%	18.5%	17.8%	17.2%	16.9%	16.8%	17.0%
		3Y	26.1%	25.6%	24.8%	24.2%	23.5%	18.1%	17.2%	16.6%	15.9%	15.3%	14.8%	14.5%	14.5%	14.7%
		5Y	20.1%	19.6%	19.0%	18.4%	17.9%	16.1%	14.9%	13.7%	13.0%	13.0%	12.5%	12.2%	12.2%	12.5%
		7Y	18.5%	18.1%	17.5%	16.9%	16.3%	14.6%	13.7%	12.0%	11.6%	11.5%	10.9%	10.8%	11.0%	11.3%
		10Y	16.6%	16.1%	15.5%	14.9%	14.4%	12.9%	12.0%	11.0%	10.4%	10.4%	9.9%	9.8%	10.3%	10.7%
		15Y	15.6%	15.2%	14.6%	14.1%	13.6%	12.1%	11.2%	10.3%	9.5%	9.4%	9.3%	10.0%	10.7%	11.3%
		20Y	14.1%	13.7%	13.1%	12.7%	12.2%	10.9%	10.1%	9.4%	9.2%	9.4%	10.7%	11.8%	12.9%	13.7%
		30Y	51.5%	50.0%	47.9%	46.2%	44.5%	39.3%	36.1%	32.8%	31.8%	32.0%	32.3%	33.4%	34.3%	35.3%
		Total Asia Ex-Japan
	E X P I R Y	1M	12.3%	12.1%	11.9%	11.7%	11.5%	11.1%	10.8%	10.3%	10.2%	10.0%	10.1%	10.4%	10.7%	11.1%
		3M	11.5%	11.3%	11.1%	10.9%	10.7%	10.5%	10.2%	9.8%	9.6%	9.4%	9.5%	9.8%	10.2%	10.6%
		6M	10.9%	10.8%	10.6%	10.4%	10.2%	9.9%	9.6%	9.1%	9.0%	8.8%	8.6%	8.9%	9.2%	9.5%
		9M	10.6%	10.4%	10.2%	10.0%	9.8%	9.7%	9.3%	9.1%	8.8%	8.7%	8.5%	8.8%	9.1%	9.4%
		1Y	10.3%	10.1%	9.9%	9.7%	9.5%	9.4%	9.1%	9.0%	8.7%	8.7%	8.6%	8.8%	9.1%	9.4%
		2Y	11.3%	11.1%	10.9%	10.5%	10.3%	10.0%	10.0%	8.4%	8.8%	8.7%	8.5%	8.7%	9.1%	9.3%
		3Y	11.9%	11.7%	11.3%	11.0%	10.7%	9.8%	9.6%	9.0%	8.8%	8.4%	8.1%	8.4%	8.6%	8.9%
		5Y	12.7%	12.3%	11.9%	11.5%	11.2%	10.4%	9.8%	8.8%	8.4%	8.0%	7.8%	8.0%	8.3%	8.6%
		7Y	13.3%	13.0%	12.5%	12.1%	11.7%	10.5%	10.0%	8.6%	8.1%	7.9%	7.5%	7.8%	8.0%	8.4%
		10Y	13.5%	13.2%	12.7%	12.3%	11.9%	11.1%	9.9%	8.3%	8.1%	7.7%	7.7%	8.0%	8.2%	8.6%
		15Y	14.4%	14.1%	13.5%	13.1%	12.6%	11.8%	10.6%	9.0%	8.8%	8.4%	8.4%	8.6%	8.8%	9.2%
		20Y	17.1%	16.7%	16.0%	15.4%	14.9%	13.8%	12.5%	10.6%	10.1%	9.5%	9.4%	9.6%	9.7%	10.0%
		30Y	21.3%	20.8%	19.9%	19.2%	18.5%	17.0%	15.3%	12.9%	12.3%	11.5%	11.2%	11.3%	11.4%	11.8%
		Total ME/N. Africa
	E X P I R Y	1M	8.0%	7.9%	7.7%	7.6%	7.5%	7.6%	8.1%	8.4%	8.5%	8.7%	9.0%	9.5%	10.0%	10.4%
		3M	7.8%	7.7%	7.5%	7.4%	7.3%	7.5%	7.9%	8.1%	8.2%	8.4%	8.6%	9.1%	9.6%	10.1%
		6M	7.7%	7.6%	7.5%	7.3%	7.2%	7.4%	7.8%	7.8%	7.9%	7.9%	8.1%	8.5%	9.0%	9.4%
		9M	7.7%	7.7%	7.5%	7.3%	7.2%	7.5%	7.6%	7.5%	7.5%	7.6%	7.6%	8.1%	8.4%	8.9%
		1Y	8.0%	7.9%	7.7%	7.5%	7.4%	7.6%	7.5%	7.3%	7.1%	7.2%	7.2%	7.7%	8.0%	8.4%
		2Y	8.8%	8.6%	8.4%	8.2%	8.0%	7.2%	6.8%	6.3%	6.1%	6.1%	6.0%	6.4%	6.7%	6.9%
		3Y	7.9%	7.8%	7.6%	7.4%	7.2%	6.4%	6.0%	5.5%	5.3%	5.2%	5.2%	5.6%	5.8%	6.0%
		5Y	7.0%	6.9%	6.7%	6.4%	6.2%	5.5%	5.1%	4.7%	4.6%	4.2%	4.5%	4.7%	5.0%	5.2%
		7Y	6.6%	6.5%	6.3%	6.0%	5.8%	5.3%	4.9%	4.5%	4.1%	4.0%	4.3%	4.5%	4.7%	5.0%
		10Y	7.1%	7.0%	6.7%	6.5%	6.3%	5.5%	4.8%	4.1%	4.1%	4.1%	4.3%	4.6%	4.7%	4.9%
		15Y	8.6%	8.3%	7.9%	7.7%	7.4%	6.5%	6.0%	5.4%	5.1%	5.1%	5.1%	5.3%	5.4%	5.6%
		20Y	9.9%	9.6%	9.3%	8.8%	8.5%	7.4%	6.9%	6.2%	5.9%	5.6%	5.7%	5.8%	6.0%	6.2%
		30Y	12.8%	12.4%	11.8%	11.4%	11.1%	9.6%	8.7%	7.7%	7.2%	7.0%	7.1%	7.1%	7.4%	7.4%
		Total Sub-Saharan Africa
	E X P I R Y	1M	27.6%	27.2%	26.7%	26.3%	25.9%	20.8%	17.5%	16.5%	16.4%	15.3%	15.1%	15.0%	15.0%	14.9%
		3M	21.2%	20.9%	20.5%	20.1%	19.8%	16.0%	13.9%	14.1%	14.0%	13.0%	12.8%	12.8%	12.7%	12.7%
		6M	18.6%	18.4%	18.0%	17.7%	17.4%	15.3%	13.4%	13.0%	12.7%	11.8%	11.5%	11.5%	11.4%	11.4%
		9M	17.8%	17.5%	17.2%	16.9%	16.5%	14.7%	12.8%	12.6%	12.2%	11.4%	11.2%	11.1%	11.1%	11.0%
		1Y	16.5%	16.2%	15.8%	15.5%	15.2%	14.2%	12.3%	12.1%	11.7%	11.1%	10.8%	10.8%	10.7%	10.7%
		2Y	13.8%	13.5%	13.1%	12.8%	12.5%	12.0%	11.3%	10.5%	10.0%	9.4%	9.2%	9.1%	9.1%	9.0%
		3Y	12.0%	11.8%	11.4%	11.1%	10.9%	10.3%	9.9%	9.5%	9.0%	8.4%	8.2%	8.1%	8.1%	8.1%
		5Y	10.9%	10.6%	10.3%	9.9%	9.6%	9.3%	8.8%	8.3%	7.9%	7.5%	7.2%	7.2%	7.1%	7.1%
		7Y	11.3%	11.0%	10.6%	10.3%	9.9%	8.9%	8.4%	7.7%	7.4%	7.2%	6.9%	6.8%	6.8%	6.7%
		10Y	12.2%	11.8%	11.4%	11.0%	10.7%	9.4%	8.5%	7.2%	6.7%	6.4%	6.1%	6.0%	6.0%	5.9%
		15Y	11.7%	11.3%	10.9%	10.5%	10.2%	9.0%	8.0%	6.7%	6.2%	5.9%	5.6%	5.6%	5.5%	5.5%
		20Y	11.4%	11.1%	10.7%	10.3%	9.9%	8.7%	7.7%	6.5%	6.0%	5.6%	5.4%	5.4%	5.3%	5.2%
		30Y	11.2%	10.9%	10.4%	10.0%	9.6%	8.5%	7.5%	6.3%	5.7%	5.4%	5.2%	5.1%	5.0%	5.0%

---

Sheet 8: Rates Vega-Normal & Absolute

2023 GMS Component: Severely Adverse Scenario
Rates Vega
	Absolute Normal Interest Rate Shocks (bps)
			M A T U R I T Y
			1M	3M	6M	9M	1Y	2Y	3Y	5Y	7Y	10Y	15Y	20Y	25Y	30Y
		AUD
	E X P I R Y	1M	23.3	22.8	22.2	21.6	21.1	19.8	19.0	18.3	18.1	17.9	17.8	17.8	17.7	17.7
		3M	22.4	21.9	21.2	20.6	20.2	18.8	18.1	17.4	17.1	17.0	16.9	16.8	16.8	16.8
		6M	21.1	20.6	19.9	19.4	18.9	17.6	16.8	16.1	15.9	15.7	15.6	15.5	15.5	15.5
		9M	20.0	19.5	18.8	18.3	17.8	16.5	15.7	15.0	14.8	14.6	14.5	14.4	14.4	14.4
		1Y	19.0	18.5	17.9	17.3	16.8	15.5	14.8	14.1	13.8	13.7	13.5	13.5	13.5	13.4
		2Y	16.3	15.8	15.1	14.6	14.1	12.7	12.0	11.3	11.0	10.9	10.8	10.7	10.7	10.7
		3Y	14.6	14.1	13.4	12.9	12.4	11.1	10.3	9.6	9.4	9.2	9.1	9.1	9.0	9.0
		5Y	12.9	12.4	11.7	11.2	10.7	9.3	8.6	7.9	7.6	7.5	7.4	7.3	7.3	7.3
		7Y	12.1	11.6	10.9	10.3	9.9	8.5	7.8	7.1	6.8	6.7	6.6	6.5	6.5	6.5
		10Y	11.4	10.9	10.3	9.7	9.2	7.9	7.2	6.5	6.2	6.1	6.0	5.9	5.9	5.8
		15Y	11.0	10.5	9.8	9.3	8.8	7.4	6.7	6.0	5.8	5.6	5.5	5.4	5.4	5.4
		20Y	10.7	10.2	9.6	9.0	8.5	7.2	6.5	5.8	5.5	5.4	5.3	5.2	5.2	5.1
		30Y	10.5	10.0	9.4	8.8	8.3	7.0	6.2	5.6	5.3	5.1	5.0	5.0	4.9	4.9
		EUR
	E X P I R Y	1M	9.3	9.4	9.4	9.5	9.6	9.8	9.9	10.2	10.4	10.5	10.6	10.7	10.7	10.7
		3M	8.8	8.8	8.9	9.0	9.0	9.3	9.4	9.7	9.8	10.0	10.1	10.2	10.2	10.2
		6M	8.1	8.1	8.2	8.3	8.3	8.5	8.7	9.0	9.1	9.3	9.4	9.5	9.5	9.5
		9M	7.5	7.5	7.6	7.6	7.7	7.9	8.1	8.3	8.5	8.7	8.8	8.8	8.9	8.9
		1Y	6.9	7.0	7.0	7.1	7.2	7.4	7.5	7.8	8.0	8.1	8.2	8.3	8.3	8.3
		2Y	5.3	5.3	5.4	5.4	5.5	5.7	5.9	6.2	6.3	6.5	6.6	6.6	6.7	6.7
		3Y	4.2	4.3	4.3	4.4	4.5	4.7	4.8	5.1	5.3	5.4	5.5	5.6	5.6	5.6
		5Y	3.0	3.1	3.1	3.2	3.3	3.5	3.7	3.9	4.1	4.2	4.3	4.4	4.4	4.5
		7Y	2.4	2.5	2.5	2.6	2.7	2.9	3.1	3.3	3.5	3.6	3.7	3.8	3.8	3.9
		10Y	2.0	2.0	2.1	2.1	2.2	2.4	2.6	2.8	3.0	3.1	3.3	3.3	3.4	3.4
		15Y	1.6	1.6	1.7	1.8	1.8	2.0	2.2	2.5	2.6	2.8	2.9	3.0	3.0	3.0
		20Y	1.4	1.4	1.5	1.6	1.6	1.9	2.0	2.3	2.4	2.6	2.7	2.8	2.8	2.8
		30Y	1.2	1.3	1.3	1.4	1.5	1.7	1.8	2.1	2.3	2.4	2.5	2.6	2.6	2.6
		GBP
	E X P I R Y	1M	11.4	11.3	11.2	11.0	10.9	10.6	10.4	10.3	10.3	10.5	10.9	11.3	11.5	11.6
		3M	10.5	10.4	10.2	10.1	10.0	9.7	9.5	9.3	9.4	9.6	10.0	10.3	10.6	10.7
		6M	9.3	9.2	9.1	8.9	8.8	8.5	8.3	8.2	8.2	8.4	8.8	9.2	9.4	9.6
		9M	8.3	8.2	8.1	8.0	7.9	7.5	7.3	7.2	7.3	7.5	7.9	8.2	8.4	8.6
		1Y	7.5	7.4	7.3	7.2	7.1	6.8	6.6	6.4	6.5	6.7	7.1	7.4	7.6	7.8
		2Y	5.5	5.4	5.3	5.2	5.0	4.7	4.5	4.4	4.4	4.6	5.1	5.4	5.6	5.8
		3Y	4.5	4.4	4.3	4.2	4.1	3.7	3.5	3.4	3.4	3.7	4.1	4.4	4.6	4.8
		5Y	3.7	3.6	3.5	3.4	3.3	2.9	2.7	2.6	2.6	2.9	3.3	3.6	3.8	4.0
		7Y	3.4	3.3	3.2	3.1	3.0	2.6	2.5	2.3	2.4	2.6	3.0	3.3	3.5	3.7
		10Y	3.3	3.2	3.0	2.9	2.8	2.5	2.3	2.1	2.2	2.4	2.8	3.1	3.4	3.5
		15Y	3.1	3.0	2.9	2.8	2.7	2.3	2.1	2.0	2.1	2.3	2.7	3.0	3.2	3.4
		20Y	3.1	3.0	2.8	2.7	2.6	2.3	2.1	1.9	2.0	2.2	2.6	2.9	3.2	3.3
		30Y	3.0	2.9	2.8	2.6	2.5	2.2	2.0	1.9	1.9	2.1	2.5	2.9	3.1	3.3
		JPY
	E X P I R Y	1M	9.9	9.8	9.5	9.3	9.0	8.2	7.5	6.4	5.6	4.8	4.0	3.6	3.3	3.1
		3M	10.0	9.9	9.6	9.4	9.1	8.3	7.6	6.5	5.7	4.9	4.1	3.7	3.4	3.2
		6M	10.2	10.0	9.7	9.5	9.3	8.4	7.7	6.6	5.9	5.0	4.3	3.8	3.5	3.3
		9M	10.3	10.1	9.9	9.6	9.4	8.6	7.9	6.8	6.0	5.2	4.4	3.9	3.7	3.5
		1Y	10.4	10.2	10.0	9.7	9.5	8.7	8.0	6.9	6.1	5.3	4.5	4.1	3.8	3.6
		2Y	10.8	10.6	10.4	10.1	9.9	9.1	8.4	7.3	6.5	5.7	4.9	4.4	4.2	4.0
		3Y	11.1	10.9	10.7	10.4	10.2	9.3	8.6	7.5	6.8	6.0	5.2	4.7	4.4	4.3
		5Y	11.4	11.3	11.0	10.8	10.5	9.7	9.0	7.9	7.1	6.3	5.5	5.1	4.8	4.6
		7Y	11.6	11.5	11.2	11.0	10.7	9.9	9.2	8.1	7.3	6.5	5.7	5.3	5.0	4.8
		10Y	11.8	11.6	11.4	11.1	10.9	10.1	9.4	8.3	7.5	6.7	5.9	5.4	5.2	5.0
		15Y	11.9	11.8	11.5	11.3	11.0	10.2	9.5	8.4	7.6	6.8	6.0	5.6	5.3	5.1
		20Y	12.0	11.8	11.6	11.3	11.1	10.2	9.5	8.5	7.7	6.9	6.1	5.6	5.3	5.2
		30Y	12.1	11.9	11.6	11.4	11.2	10.3	9.6	8.5	7.7	6.9	6.1	5.7	5.4	5.2
		USD
	E X P I R Y	1M	29.6	29.2	28.6	28.1	27.6	26.0	24.7	23.1	22.2	21.4	20.8	20.5	20.4	20.3
		3M	28.5	28.1	27.6	27.0	26.5	24.9	23.7	22.1	21.1	20.3	19.7	19.4	19.3	19.2
		6M	27.1	26.6	26.1	25.5	25.0	23.4	22.2	20.6	19.6	18.9	18.3	18.0	17.8	17.7
		9M	25.7	25.3	24.7	24.2	23.7	22.1	20.8	19.2	18.3	17.5	16.9	16.6	16.5	16.4
		1Y	24.5	24.1	23.6	23.0	22.5	20.9	19.7	18.1	17.1	16.3	15.7	15.5	15.3	15.2
		2Y	20.9	20.5	19.9	19.4	18.9	17.2	16.0	14.4	13.4	12.7	12.1	11.8	11.6	11.5
		3Y	18.4	18.0	17.5	16.9	16.4	14.8	13.6	12.0	11.0	10.2	9.6	9.3	9.2	9.1
		5Y	15.6	15.2	14.6	14.1	13.6	12.0	10.7	9.1	8.2	7.4	6.8	6.5	6.4	6.2
		7Y	14.1	13.7	13.2	12.6	12.1	10.5	9.3	7.7	6.7	5.9	5.3	5.0	4.9	4.8
		10Y	13.0	12.6	12.0	11.5	11.0	9.3	8.1	6.5	5.6	4.8	4.2	3.9	3.7	3.6
		15Y	12.1	11.7	11.1	10.6	10.1	8.4	7.2	5.6	4.6	3.9	3.3	3.0	2.8	2.7
		20Y	11.6	11.2	10.6	10.1	9.6	8.0	6.7	5.1	4.2	3.4	2.8	2.5	2.4	2.3
		30Y	11.2	10.8	10.2	9.7	9.2	7.5	6.3	4.7	3.7	3.0	2.4	2.1	1.9	1.8
		US MBS Vega
		Other Advanced Economies
	E X P I R Y	1M	15.1	14.9	14.7	14.5	14.3	13.6	13.1	12.5	12.1	11.8	11.6	11.5	11.5	11.4
		3M	14.5	14.3	14.1	13.9	13.7	13.0	12.5	11.9	11.5	11.2	11.0	10.9	10.9	10.8
		6M	13.7	13.5	13.3	13.1	12.9	12.2	11.7	11.1	10.7	10.4	10.2	10.1	10.1	10.0
		9M	13.0	12.8	12.6	12.4	12.2	11.5	11.0	10.4	10.0	9.7	9.5	9.4	9.4	9.3
		1Y	12.4	12.2	12.0	11.8	11.6	10.9	10.4	9.8	9.4	9.1	8.9	8.8	8.8	8.7
		2Y	10.6	10.5	10.2	10.0	9.8	9.2	8.7	8.0	7.7	7.4	7.1	7.1	7.0	7.0
		3Y	9.6	9.4	9.2	9.0	8.8	8.1	7.6	7.0	6.6	6.3	6.1	6.0	6.0	5.9
		5Y	8.4	8.3	8.1	7.9	7.7	7.0	6.5	5.9	5.5	5.2	5.0	4.9	4.9	4.8
		7Y	7.9	7.8	7.5	7.3	7.1	6.5	6.0	5.3	5.0	4.7	4.4	4.4	4.3	4.3
		10Y	7.5	7.3	7.1	6.9	6.7	6.1	5.6	4.9	4.6	4.2	4.0	3.9	3.9	3.9
		15Y	7.2	7.0	6.8	6.6	6.4	5.7	5.3	4.6	4.2	3.9	3.7	3.6	3.6	3.6
		20Y	7.0	6.9	6.6	6.4	6.2	5.6	5.1	4.5	4.1	3.8	3.6	3.5	3.4	3.4
		30Y	6.9	6.7	6.5	6.3	6.1	5.4	4.9	4.3	3.9	3.6	3.4	3.3	3.3	3.2
		Total Emerging Europe
	E X P I R Y	1M	23.6	23.3	22.9	22.5	22.1	21.0	20.2	19.2	18.7	18.4	18.1	18.0	17.9	17.9
		3M	22.6	22.3	21.9	21.5	21.2	20.0	19.2	18.3	17.8	17.4	17.1	17.0	17.0	16.9
		6M	21.3	21.0	20.6	20.2	19.9	18.7	18.0	17.0	16.5	16.1	15.9	15.8	15.7	15.7
		9M	20.2	19.9	19.5	19.1	18.8	17.6	16.8	15.9	15.4	15.0	14.8	14.6	14.6	14.6
		1Y	19.3	19.0	18.5	18.2	17.8	16.7	15.9	14.9	14.4	14.0	13.8	13.7	13.6	13.6
		2Y	16.5	16.2	15.7	15.4	15.0	13.9	13.1	12.1	11.6	11.2	11.0	10.9	10.8	10.8
		3Y	14.8	14.5	14.1	13.7	13.3	12.2	11.4	10.4	9.9	9.6	9.3	9.2	9.2	9.1
		5Y	13.1	12.8	12.3	11.9	11.6	10.5	9.7	8.7	8.2	7.8	7.6	7.5	7.4	7.4
		7Y	12.2	11.9	11.5	11.1	10.8	9.6	8.9	7.9	7.4	7.0	6.8	6.7	6.6	6.6
		10Y	11.6	11.3	10.9	10.5	10.2	9.0	8.2	7.3	6.8	6.4	6.2	6.1	6.0	6.0
		15Y	11.2	10.9	10.4	10.1	9.7	8.6	7.8	6.8	6.3	5.9	5.7	5.6	5.5	5.5
		20Y	10.9	10.6	10.2	9.8	9.5	8.3	7.5	6.6	6.1	5.7	5.5	5.4	5.3	5.3
		30Y	10.7	10.4	10.0	9.6	9.2	8.1	7.3	6.3	5.8	5.5	5.2	5.1	5.1	5.0
		Total Latam & Caribbean
	E X P I R Y	1M	60.2	59.4	58.3	57.3	56.4	53.6	51.5	49.0	47.8	46.8	46.2	45.9	45.8	45.7
		3M	57.7	56.9	55.9	54.9	54.0	51.1	49.1	46.6	45.3	44.4	43.7	43.5	43.3	43.2
		6M	54.4	53.7	52.6	51.6	50.7	47.8	45.8	43.3	42.0	41.1	40.5	40.2	40.1	40.0
		9M	51.6	50.8	49.8	48.8	47.9	45.0	43.0	40.5	39.2	38.2	37.6	37.4	37.2	37.1
		1Y	49.1	48.4	47.3	46.3	45.4	42.5	40.5	38.0	36.7	35.8	35.2	34.9	34.8	34.7
		2Y	42.0	41.2	40.2	39.2	38.3	35.4	33.4	30.9	29.6	28.7	28.0	27.8	27.6	27.5
		3Y	37.7	37.0	35.9	34.9	34.0	31.1	29.1	26.6	25.3	24.4	23.8	23.5	23.4	23.3
		5Y	33.3	32.5	31.5	30.5	29.6	26.7	24.7	22.2	20.9	19.9	19.3	19.1	18.9	18.8
		7Y	31.2	30.5	29.4	28.4	27.5	24.6	22.6	20.1	18.8	17.9	17.2	17.0	16.8	16.7
		10Y	29.7	28.9	27.8	26.8	25.9	23.1	21.0	18.5	17.3	16.3	15.7	15.4	15.3	15.2
		15Y	28.5	27.7	26.6	25.7	24.8	21.9	19.8	17.4	16.1	15.1	14.5	14.2	14.1	14.0
		20Y	27.9	27.1	26.0	25.1	24.2	21.3	19.2	16.8	15.5	14.5	13.9	13.6	13.5	13.4
		30Y	27.3	26.5	25.4	24.5	23.6	20.7	18.6	16.2	14.9	13.9	13.3	13.1	12.9	12.8
		Total Asia Ex-Japan
	E X P I R Y	1M	20.1	19.9	19.5	19.2	18.9	17.9	17.3	16.4	16.0	15.7	15.5	15.4	15.3	15.3
		3M	19.3	19.1	18.7	18.4	18.1	17.1	16.4	15.6	15.2	14.9	14.6	14.6	14.5	14.5
		6M	18.2	18.0	17.6	17.3	17.0	16.0	15.3	14.5	14.1	13.8	13.5	13.5	13.4	13.4
		9M	17.3	17.0	16.7	16.3	16.0	15.1	14.4	13.6	13.1	12.8	12.6	12.5	12.5	12.4
		1Y	16.5	16.2	15.8	15.5	15.2	14.2	13.6	12.7	12.3	12.0	11.8	11.7	11.6	11.6
		2Y	14.1	13.8	13.5	13.1	12.8	11.9	11.2	10.3	9.9	9.6	9.4	9.3	9.3	9.2
		3Y	12.6	12.4	12.0	11.7	11.4	10.4	9.7	8.9	8.5	8.2	8.0	7.9	7.8	7.8
		5Y	11.2	10.9	10.5	10.2	9.9	8.9	8.3	7.4	7.0	6.7	6.5	6.4	6.3	6.3
		7Y	10.5	10.2	9.8	9.5	9.2	8.2	7.6	6.7	6.3	6.0	5.8	5.7	5.6	5.6
		10Y	9.9	9.7	9.3	9.0	8.7	7.7	7.0	6.2	5.8	5.5	5.3	5.2	5.1	5.1
		15Y	9.5	9.3	8.9	8.6	8.3	7.3	6.6	5.8	5.4	5.1	4.9	4.8	4.7	4.7
		20Y	9.3	9.1	8.7	8.4	8.1	7.1	6.4	5.6	5.2	4.9	4.7	4.6	4.5	4.5
		30Y	9.1	8.9	8.5	8.2	7.9	6.9	6.2	5.4	5.0	4.7	4.5	4.4	4.3	4.3
		Total ME/N. Africa
	E X P I R Y	1M	14.3	14.1	13.8	13.6	13.4	12.7	12.2	11.6	11.3	11.1	11.0	10.9	10.9	10.8
		3M	13.7	13.5	13.2	13.0	12.8	12.1	11.6	11.0	10.7	10.5	10.4	10.3	10.3	10.3
		6M	12.9	12.7	12.5	12.2	12.0	11.3	10.9	10.3	10.0	9.7	9.6	9.5	9.5	9.5
		9M	12.2	12.1	11.8	11.6	11.4	10.7	10.2	9.6	9.3	9.1	8.9	8.9	8.8	8.8
		1Y	11.7	11.5	11.2	11.0	10.8	10.1	9.6	9.0	8.7	8.5	8.3	8.3	8.2	8.2
		2Y	10.0	9.8	9.5	9.3	9.1	8.4	7.9	7.3	7.0	6.8	6.6	6.6	6.6	6.5
		3Y	8.9	8.8	8.5	8.3	8.1	7.4	6.9	6.3	6.0	5.8	5.6	5.6	5.5	5.5
		5Y	7.9	7.7	7.5	7.2	7.0	6.3	5.8	5.3	5.0	4.7	4.6	4.5	4.5	4.5
		7Y	7.4	7.2	7.0	6.7	6.5	5.8	5.4	4.8	4.5	4.2	4.1	4.0	4.0	4.0
		10Y	7.0	6.9	6.6	6.4	6.2	5.5	5.0	4.4	4.1	3.9	3.7	3.7	3.6	3.6
		15Y	6.8	6.6	6.3	6.1	5.9	5.2	4.7	4.1	3.8	3.6	3.4	3.4	3.3	3.3
		20Y	6.6	6.4	6.2	5.9	5.7	5.0	4.6	4.0	3.7	3.4	3.3	3.2	3.2	3.2
		30Y	6.5	6.3	6.0	5.8	5.6	4.9	4.4	3.8	3.5	3.3	3.2	3.1	3.1	3.0
		Total Sub-Saharan Africa
	E X P I R Y	1M	33.8	33.3	32.7	32.2	31.7	30.0	28.9	27.5	26.8	26.3	25.9	25.8	25.7	25.6
		3M	32.4	32.0	31.3	30.8	30.3	28.7	27.5	26.1	25.4	24.9	24.5	24.4	24.3	24.3
		6M	30.5	30.1	29.5	29.0	28.5	26.8	25.7	24.3	23.6	23.1	22.7	22.6	22.5	22.4
		9M	29.0	28.5	27.9	27.4	26.9	25.2	24.1	22.7	22.0	21.5	21.1	21.0	20.9	20.8
		1Y	27.6	27.1	26.5	26.0	25.5	23.9	22.7	21.3	20.6	20.1	19.7	19.6	19.5	19.4
		2Y	23.6	23.1	22.5	22.0	21.5	19.9	18.7	17.3	16.6	16.1	15.7	15.6	15.5	15.4
		3Y	21.2	20.7	20.1	19.6	19.1	17.5	16.3	14.9	14.2	13.7	13.3	13.2	13.1	13.1
		5Y	18.7	18.3	17.7	17.1	16.6	15.0	13.8	12.4	11.7	11.2	10.8	10.7	10.6	10.6
		7Y	17.5	17.1	16.5	15.9	15.4	13.8	12.7	11.3	10.6	10.0	9.7	9.5	9.5	9.4
		10Y	16.7	16.2	15.6	15.1	14.6	12.9	11.8	10.4	9.7	9.2	8.8	8.7	8.6	8.5
		15Y	16.0	15.5	14.9	14.4	13.9	12.3	11.1	9.7	9.0	8.5	8.1	8.0	7.9	7.9
		20Y	15.6	15.2	14.6	14.1	13.6	11.9	10.8	9.4	8.7	8.1	7.8	7.7	7.6	7.5
		30Y	15.3	14.9	14.3	13.7	13.2	11.6	10.5	9.1	8.3	7.8	7.5	7.3	7.2	7.2

---

Sheet 9: Other Rates

2023 GMS Component: Severely Adverse Scenario
Other Rates
	Absolute Change in Inflation (bps)
		M A T U R I T Y
	Currency	1M	3M	6M	9M	1Y	2Y	3Y	5Y	7Y	10Y	15Y	20Y	30Y
	AUD	(105.0)	(105.0)	(105.0)	(98.0)	(90.0)	(81.0)	(80.0)	(58.0)	(49.0)	(43.0)	(41.0)	(39.0)	(39.0)
	EUR	(115.0)	(115.0)	(115.0)	(110.0)	(106.0)	(68.0)	(54.0)	(45.0)	(39.0)	(32.0)	(31.0)	(30.0)	(30.0)
	GBP	(85.0)	(85.0)	(85.0)	(85.0)	(79.0)	(72.0)	(64.0)	(59.0)	(56.0)	(54.0)	(45.0)	(40.0)	(36.0)
	JPY	(37.7)	(37.7)	(37.8)	(37.9)	(38.0)	(38.3)	(38.6)	(39.1)	(39.5)	(39.9)	(40.4)	(40.8)	(41.2)
	USD	(145.0)	(145.0)	(140.0)	(125.0)	(120.0)	(88.0)	(70.0)	(59.0)	(54.0)	(47.0)	(43.0)	(41.0)	(40.0)
	Other	(145.0)	(145.0)	(140.0)	(125.0)	(120.0)	(88.0)	(70.0)	(59.0)	(54.0)	(47.0)	(43.0)	(41.0)	(40.0)
	Absolute Change in Cross-Currency vs. USD Basis (bps)
	(move in bps of spread on non-USD leg)
		M A T U R I T Y
	Currency	1M	3M	6M	9M	1Y	2Y	3Y	5Y	7Y	10Y	15Y	20Y	30Y
	AUD	(18.8)	(18.8)	(16.2)	(13.5)	(10.9)	(11.0)	(11.1)	(11.4)	(11.6)	(12.0)	(12.6)	(13.2)	(14.5)
	EUR	(32.4)	(32.4)	(28.0)	(23.6)	(19.1)	(18.8)	(18.5)	(17.9)	(17.2)	(16.3)	(14.7)	(13.1)	(10.0)
	GBP	(24.7)	(24.7)	(21.2)	(17.8)	(14.4)	(14.3)	(14.2)	(14.0)	(13.8)	(13.5)	(13.0)	(12.5)	(11.5)
	JPY	(36.2)	(36.2)	(31.9)	(27.7)	(23.4)	(23.2)	(22.9)	(22.3)	(21.8)	(20.9)	(19.6)	(18.2)	(15.4)
	Other	(32.4)	(32.4)	(28.0)	(23.6)	(19.1)	(18.8)	(18.5)	(17.9)	(17.2)	(16.3)	(14.7)	(13.1)	(10.0)

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Sheet 10: Energy

2023 GMS Component: Severely Adverse Scenario
Energy
		O I L P R O D U C T S																				N A T U R A L G A S																P O W E R															O T H E R E N E R G Y
		C R U D E O I L									O T H E R O I L P R O D U C T S											US							Europe									US						Europe									Emissions				Coal				Dry Freight		Structured Products	Other / Unspecified Energy
	Relative Price Shock (%)	Brent	Dubai Fateh	Maya	Tapis	WTI	OMAN	Other Sour Crude	Other Sweet Crude	Unspecified Crude	Diesel	Fuel Oil	Heating Oil	Naptha	Ethanol	LPG	Jet Fuel	Gas Oils	Gasoline	Other Oil Products		Gulf Coast	MidCont	NE	Rockies	West	NYMEX	Other US	UK	Belgium	Dutch	French	German	Other Europe	Canada	Other Regions		Ercot	Midwest	North East	NYISO	West	Other US	Nordpool	Benelux	UK	Germany	France	Italy	Other Europe	Other Regions		EUA/ETS	CER	VER	Other	ARA /API2	Richards Bay / API4	Indonesia	Other Regions	Baltic Dry Index	Other Freight
	Spot	-35.6%	-37.4%	-37.4%	-37.4%	-35.8%	-37.4%	-37.4%	-37.4%	-37.4%	-37.4%	-37.4%	-38.9%	-37.4%	-37.4%	-37.4%	-37.4%	-40.6%	-36.2%	-37.4%		-31.3%	-31.3%	-31.3%	-31.3%	-31.3%	-31.3%	-31.3%	-27.9%	-27.9%	-27.9%	-27.9%	-27.9%	-27.9%	-31.3%	-31.3%		-17.8%	-17.8%	-17.8%	-17.8%	-17.8%	-17.8%	-29.0%	-29.0%	-29.0%	-29.0%	-29.0%	-29.0%	-29.0%	-29.0%		-41.4%	-41.4%	-34.0%	-34.0%	-49.6%	-33.3%	-34.0%	-34.0%	-11.7%	-34.0%	-34.0%	-34.0%
	Month 1	-34.5%	-36.3%	-36.3%	-36.3%	-34.6%	-36.3%	-36.3%	-36.3%	-36.3%	-36.3%	-36.3%	-37.9%	-36.3%	-36.3%	-36.3%	-36.3%	-39.4%	-35.1%	-36.3%		-29.4%	-29.4%	-29.4%	-29.4%	-29.4%	-29.4%	-29.4%	-26.3%	-26.3%	-26.3%	-26.3%	-26.3%	-26.3%	-29.4%	-29.4%		-16.8%	-16.8%	-16.8%	-16.8%	-16.8%	-16.8%	-27.3%	-27.3%	-27.3%	-27.3%	-27.3%	-27.3%	-27.3%	-27.3%		-40.9%	-40.9%	-33.6%	-33.6%	-48.6%	-33.3%	-33.6%	-33.6%	-11.6%	-33.6%	-33.6%	-33.6%
	Month 2	-33.4%	-35.3%	-35.3%	-35.3%	-33.5%	-35.3%	-35.3%	-35.3%	-35.3%	-35.3%	-35.3%	-37.0%	-35.3%	-35.3%	-35.3%	-35.3%	-38.3%	-34.1%	-35.3%		-27.8%	-27.8%	-27.8%	-27.8%	-27.8%	-27.8%	-27.8%	-24.8%	-24.8%	-24.8%	-24.8%	-24.8%	-24.8%	-27.8%	-27.8%		-15.8%	-15.8%	-15.8%	-15.8%	-15.8%	-15.8%	-25.7%	-25.7%	-25.7%	-25.7%	-25.7%	-25.7%	-25.7%	-25.7%		-40.4%	-40.4%	-33.1%	-33.1%	-47.5%	-33.3%	-33.1%	-33.1%	-11.4%	-33.1%	-33.1%	-33.1%
	Month 3	-32.5%	-34.3%	-34.3%	-34.3%	-32.4%	-34.3%	-34.3%	-34.3%	-34.3%	-34.3%	-34.3%	-36.2%	-34.3%	-34.3%	-34.3%	-34.3%	-37.3%	-33.2%	-34.3%		-26.2%	-26.2%	-26.2%	-26.2%	-26.2%	-26.2%	-26.2%	-23.4%	-23.4%	-23.4%	-23.4%	-23.4%	-23.4%	-26.2%	-26.2%		-14.9%	-14.9%	-14.9%	-14.9%	-14.9%	-14.9%	-24.3%	-24.3%	-24.3%	-24.3%	-24.3%	-24.3%	-24.3%	-24.3%		-39.8%	-39.8%	-32.7%	-32.7%	-46.5%	-33.2%	-32.7%	-32.7%	-11.3%	-32.7%	-32.7%	-32.7%
	Month 4	-31.7%	-33.5%	-33.5%	-33.5%	-31.3%	-33.5%	-33.5%	-33.5%	-33.5%	-33.5%	-33.5%	-35.4%	-33.5%	-33.5%	-33.5%	-33.5%	-36.4%	-32.3%	-33.5%		-24.7%	-24.7%	-24.7%	-24.7%	-24.7%	-24.7%	-24.7%	-22.0%	-22.0%	-22.0%	-22.0%	-22.0%	-22.0%	-24.7%	-24.7%		-14.1%	-14.1%	-14.1%	-14.1%	-14.1%	-14.1%	-22.9%	-22.9%	-22.9%	-22.9%	-22.9%	-22.9%	-22.9%	-22.9%		-39.3%	-39.3%	-32.3%	-32.3%	-45.4%	-33.2%	-32.3%	-32.3%	-11.1%	-32.3%	-32.3%	-32.3%
	Month 5	-31.0%	-32.7%	-32.7%	-32.7%	-30.3%	-32.7%	-32.7%	-32.7%	-32.7%	-32.7%	-32.7%	-34.7%	-32.7%	-32.7%	-32.7%	-32.7%	-35.7%	-31.6%	-32.7%		-23.3%	-23.3%	-23.3%	-23.3%	-23.3%	-23.3%	-23.3%	-20.8%	-20.8%	-20.8%	-20.8%	-20.8%	-20.8%	-23.3%	-23.3%		-13.3%	-13.3%	-13.3%	-13.3%	-13.3%	-13.3%	-21.6%	-21.6%	-21.6%	-21.6%	-21.6%	-21.6%	-21.6%	-21.6%		-38.7%	-38.7%	-31.8%	-31.8%	-44.4%	-33.2%	-31.8%	-31.8%	-11.0%	-31.8%	-31.8%	-31.8%
	Month 6	-30.4%	-31.9%	-31.9%	-31.9%	-29.4%	-31.9%	-31.9%	-31.9%	-31.9%	-31.9%	-31.9%	-34.0%	-31.9%	-31.9%	-31.9%	-31.9%	-35.0%	-30.9%	-31.9%		-22.0%	-22.0%	-22.0%	-22.0%	-22.0%	-22.0%	-22.0%	-19.6%	-19.6%	-19.6%	-19.6%	-19.6%	-19.6%	-22.0%	-22.0%		-12.6%	-12.6%	-12.6%	-12.6%	-12.6%	-12.6%	-20.4%	-20.4%	-20.4%	-20.4%	-20.4%	-20.4%	-20.4%	-20.4%		-38.2%	-38.2%	-31.4%	-31.4%	-43.4%	-33.1%	-31.4%	-31.4%	-10.8%	-31.4%	-31.4%	-31.4%
	Month 7	-29.8%	-31.3%	-31.3%	-31.3%	-28.5%	-31.3%	-31.3%	-31.3%	-31.3%	-31.3%	-31.3%	-33.4%	-31.3%	-31.3%	-31.3%	-31.3%	-34.4%	-30.2%	-31.3%		-20.8%	-20.8%	-20.8%	-20.8%	-20.8%	-20.8%	-20.8%	-18.6%	-18.6%	-18.6%	-18.6%	-18.6%	-18.6%	-20.8%	-20.8%		-11.9%	-11.9%	-11.9%	-11.9%	-11.9%	-11.9%	-19.3%	-19.3%	-19.3%	-19.3%	-19.3%	-19.3%	-19.3%	-19.3%		-37.7%	-37.7%	-31.0%	-31.0%	-42.5%	-33.0%	-31.0%	-31.0%	-10.7%	-31.0%	-31.0%	-31.0%
	Month 8	-29.3%	-30.6%	-30.6%	-30.6%	-27.6%	-30.6%	-30.6%	-30.6%	-30.6%	-30.6%	-30.6%	-32.8%	-30.6%	-30.6%	-30.6%	-30.6%	-33.8%	-29.6%	-30.6%		-19.7%	-19.7%	-19.7%	-19.7%	-19.7%	-19.7%	-19.7%	-17.6%	-17.6%	-17.6%	-17.6%	-17.6%	-17.6%	-19.7%	-19.7%		-11.2%	-11.2%	-11.2%	-11.2%	-11.2%	-11.2%	-18.2%	-18.2%	-18.2%	-18.2%	-18.2%	-18.2%	-18.2%	-18.2%		-37.3%	-37.3%	-30.6%	-30.6%	-41.6%	-33.0%	-30.6%	-30.6%	-10.5%	-30.6%	-30.6%	-30.6%
	Month 9	-28.9%	-30.1%	-30.1%	-30.1%	-26.8%	-30.1%	-30.1%	-30.1%	-30.1%	-30.1%	-30.1%	-32.3%	-30.1%	-30.1%	-30.1%	-30.1%	-33.3%	-29.1%	-30.1%		-18.6%	-18.6%	-18.6%	-18.6%	-18.6%	-18.6%	-18.6%	-16.6%	-16.6%	-16.6%	-16.6%	-16.6%	-16.6%	-18.6%	-18.6%		-10.6%	-10.6%	-10.6%	-10.6%	-10.6%	-10.6%	-17.3%	-17.3%	-17.3%	-17.3%	-17.3%	-17.3%	-17.3%	-17.3%		-36.8%	-36.8%	-30.2%	-30.2%	-40.8%	-32.9%	-30.2%	-30.2%	-10.4%	-30.2%	-30.2%	-30.2%
	Month 10	-28.5%	-29.5%	-29.5%	-29.5%	-26.0%	-29.5%	-29.5%	-29.5%	-29.5%	-29.5%	-29.5%	-31.8%	-29.5%	-29.5%	-29.5%	-29.5%	-32.9%	-28.6%	-29.5%		-17.6%	-17.6%	-17.6%	-17.6%	-17.6%	-17.6%	-17.6%	-15.7%	-15.7%	-15.7%	-15.7%	-15.7%	-15.7%	-17.6%	-17.6%		-10.1%	-10.1%	-10.1%	-10.1%	-10.1%	-10.1%	-16.4%	-16.4%	-16.4%	-16.4%	-16.4%	-16.4%	-16.4%	-16.4%		-36.4%	-36.4%	-29.9%	-29.9%	-40.0%	-32.9%	-29.9%	-29.9%	-10.3%	-29.9%	-29.9%	-29.9%
	Month 11	-28.2%	-29.1%	-29.1%	-29.1%	-25.3%	-29.1%	-29.1%	-29.1%	-29.1%	-29.1%	-29.1%	-31.3%	-29.1%	-29.1%	-29.1%	-29.1%	-32.5%	-28.1%	-29.1%		-16.7%	-16.7%	-16.7%	-16.7%	-16.7%	-16.7%	-16.7%	-14.9%	-14.9%	-14.9%	-14.9%	-14.9%	-14.9%	-16.7%	-16.7%		-9.5%	-9.5%	-9.5%	-9.5%	-9.5%	-9.5%	-15.5%	-15.5%	-15.5%	-15.5%	-15.5%	-15.5%	-15.5%	-15.5%		-36.0%	-36.0%	-29.6%	-29.6%	-39.3%	-32.8%	-29.6%	-29.6%	-10.2%	-29.6%	-29.6%	-29.6%
	Month 12	-27.9%	-28.6%	-28.6%	-28.6%	-24.5%	-28.6%	-28.6%	-28.6%	-28.6%	-28.6%	-28.6%	-30.9%	-28.6%	-28.6%	-28.6%	-28.6%	-32.2%	-27.7%	-28.6%		-15.9%	-15.9%	-15.9%	-15.9%	-15.9%	-15.9%	-15.9%	-14.1%	-14.1%	-14.1%	-14.1%	-14.1%	-14.1%	-15.9%	-15.9%		-9.0%	-9.0%	-9.0%	-9.0%	-9.0%	-9.0%	-14.7%	-14.7%	-14.7%	-14.7%	-14.7%	-14.7%	-14.7%	-14.7%		-35.6%	-35.6%	-29.3%	-29.3%	-38.6%	-32.8%	-29.3%	-29.3%	-10.1%	-29.3%	-29.3%	-29.3%
	Month 13	-27.6%	-28.2%	-28.2%	-28.2%	-23.9%	-28.2%	-28.2%	-28.2%	-28.2%	-28.2%	-28.2%	-30.5%	-28.2%	-28.2%	-28.2%	-28.2%	-31.9%	-27.3%	-28.2%		-15.0%	-15.0%	-15.0%	-15.0%	-15.0%	-15.0%	-15.0%	-13.4%	-13.4%	-13.4%	-13.4%	-13.4%	-13.4%	-15.0%	-15.0%		-8.6%	-8.6%	-8.6%	-8.6%	-8.6%	-8.6%	-14.0%	-14.0%	-14.0%	-14.0%	-14.0%	-14.0%	-14.0%	-14.0%		-35.3%	-35.3%	-29.0%	-29.0%	-38.0%	-32.7%	-29.0%	-29.0%	-10.0%	-29.0%	-29.0%	-29.0%
	Month 14	-27.4%	-27.9%	-27.9%	-27.9%	-23.2%	-27.9%	-27.9%	-27.9%	-27.9%	-27.9%	-27.9%	-30.1%	-27.9%	-27.9%	-27.9%	-27.9%	-31.6%	-26.9%	-27.9%		-14.3%	-14.3%	-14.3%	-14.3%	-14.3%	-14.3%	-14.3%	-12.8%	-12.8%	-12.8%	-12.8%	-12.8%	-12.8%	-14.3%	-14.3%		-8.2%	-8.2%	-8.2%	-8.2%	-8.2%	-8.2%	-13.3%	-13.3%	-13.3%	-13.3%	-13.3%	-13.3%	-13.3%	-13.3%		-35.0%	-35.0%	-28.7%	-28.7%	-37.4%	-32.7%	-28.7%	-28.7%	-9.9%	-28.7%	-28.7%	-28.7%
	Month 15	-27.2%	-27.5%	-27.5%	-27.5%	-22.6%	-27.5%	-27.5%	-27.5%	-27.5%	-27.5%	-27.5%	-29.7%	-27.5%	-27.5%	-27.5%	-27.5%	-31.4%	-26.6%	-27.5%		-13.6%	-13.6%	-13.6%	-13.6%	-13.6%	-13.6%	-13.6%	-12.1%	-12.1%	-12.1%	-12.1%	-12.1%	-12.1%	-13.6%	-13.6%		-7.7%	-7.7%	-7.7%	-7.7%	-7.7%	-7.7%	-12.6%	-12.6%	-12.6%	-12.6%	-12.6%	-12.6%	-12.6%	-12.6%		-34.7%	-34.7%	-28.5%	-28.5%	-36.9%	-32.6%	-28.5%	-28.5%	-9.8%	-28.5%	-28.5%	-28.5%
	Month 16	-27.0%	-27.2%	-27.2%	-27.2%	-22.1%	-27.2%	-27.2%	-27.2%	-27.2%	-27.2%	-27.2%	-29.4%	-27.2%	-27.2%	-27.2%	-27.2%	-31.2%	-26.3%	-27.2%		-13.0%	-13.0%	-13.0%	-13.0%	-13.0%	-13.0%	-13.0%	-11.6%	-11.6%	-11.6%	-11.6%	-11.6%	-11.6%	-13.0%	-13.0%		-7.4%	-7.4%	-7.4%	-7.4%	-7.4%	-7.4%	-12.0%	-12.0%	-12.0%	-12.0%	-12.0%	-12.0%	-12.0%	-12.0%		-34.4%	-34.4%	-28.3%	-28.3%	-36.4%	-32.6%	-28.3%	-28.3%	-9.8%	-28.3%	-28.3%	-28.3%
	Month 17	-26.9%	-26.9%	-26.9%	-26.9%	-21.5%	-26.9%	-26.9%	-26.9%	-26.9%	-26.9%	-26.9%	-29.1%	-26.9%	-26.9%	-26.9%	-26.9%	-31.0%	-26.0%	-26.9%		-12.3%	-12.3%	-12.3%	-12.3%	-12.3%	-12.3%	-12.3%	-11.0%	-11.0%	-11.0%	-11.0%	-11.0%	-11.0%	-12.3%	-12.3%		-7.0%	-7.0%	-7.0%	-7.0%	-7.0%	-7.0%	-11.5%	-11.5%	-11.5%	-11.5%	-11.5%	-11.5%	-11.5%	-11.5%		-34.2%	-34.2%	-28.1%	-28.1%	-36.0%	-32.5%	-28.1%	-28.1%	-9.7%	-28.1%	-28.1%	-28.1%
	Month 18	-26.8%	-26.6%	-26.6%	-26.6%	-21.0%	-26.6%	-26.6%	-26.6%	-26.6%	-26.6%	-26.6%	-28.8%	-26.6%	-26.6%	-26.6%	-26.6%	-30.8%	-25.7%	-26.6%		-11.8%	-11.8%	-11.8%	-11.8%	-11.8%	-11.8%	-11.8%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-11.8%	-11.8%		-6.7%	-6.7%	-6.7%	-6.7%	-6.7%	-6.7%	-10.9%	-10.9%	-10.9%	-10.9%	-10.9%	-10.9%	-10.9%	-10.9%		-34.0%	-34.0%	-27.9%	-27.9%	-35.6%	-32.5%	-27.9%	-27.9%	-9.6%	-27.9%	-27.9%	-27.9%
	Month 19	-26.7%	-26.4%	-26.4%	-26.4%	-20.5%	-26.4%	-26.4%	-26.4%	-26.4%	-26.4%	-26.4%	-28.5%	-26.4%	-26.4%	-26.4%	-26.4%	-30.7%	-25.5%	-26.4%		-11.3%	-11.3%	-11.3%	-11.3%	-11.3%	-11.3%	-11.3%	-10.1%	-10.1%	-10.1%	-10.1%	-10.1%	-10.1%	-11.3%	-11.3%		-6.4%	-6.4%	-6.4%	-6.4%	-6.4%	-6.4%	-10.4%	-10.4%	-10.4%	-10.4%	-10.4%	-10.4%	-10.4%	-10.4%		-33.8%	-33.8%	-27.8%	-27.8%	-35.2%	-32.4%	-27.8%	-27.8%	-9.6%	-27.8%	-27.8%	-27.8%
	Month 20	-26.6%	-26.1%	-26.1%	-26.1%	-20.0%	-26.1%	-26.1%	-26.1%	-26.1%	-26.1%	-26.1%	-28.3%	-26.1%	-26.1%	-26.1%	-26.1%	-30.5%	-25.3%	-26.1%		-10.8%	-10.8%	-10.8%	-10.8%	-10.8%	-10.8%	-10.8%	-9.6%	-9.6%	-9.6%	-9.6%	-9.6%	-9.6%	-10.8%	-10.8%		-6.1%	-6.1%	-6.1%	-6.1%	-6.1%	-6.1%	-10.0%	-10.0%	-10.0%	-10.0%	-10.0%	-10.0%	-10.0%	-10.0%		-33.6%	-33.6%	-27.6%	-27.6%	-34.9%	-32.4%	-27.6%	-27.6%	-9.5%	-27.6%	-27.6%	-27.6%
	Month 21	-26.5%	-25.9%	-25.9%	-25.9%	-19.6%	-25.9%	-25.9%	-25.9%	-25.9%	-25.9%	-25.9%	-28.0%	-25.9%	-25.9%	-25.9%	-25.9%	-30.4%	-25.1%	-25.9%		-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-9.2%	-9.2%	-9.2%	-9.2%	-9.2%	-9.2%	-10.3%	-10.3%		-5.9%	-5.9%	-5.9%	-5.9%	-5.9%	-5.9%	-9.6%	-9.6%	-9.6%	-9.6%	-9.6%	-9.6%	-9.6%	-9.6%		-33.4%	-33.4%	-27.5%	-27.5%	-34.6%	-32.4%	-27.5%	-27.5%	-9.5%	-27.5%	-27.5%	-27.5%
	Month 22	-26.4%	-25.7%	-25.7%	-25.7%	-19.2%	-25.7%	-25.7%	-25.7%	-25.7%	-25.7%	-25.7%	-27.8%	-25.7%	-25.7%	-25.7%	-25.7%	-30.3%	-24.9%	-25.7%		-9.9%	-9.9%	-9.9%	-9.9%	-9.9%	-9.9%	-9.9%	-8.8%	-8.8%	-8.8%	-8.8%	-8.8%	-8.8%	-9.9%	-9.9%		-5.6%	-5.6%	-5.6%	-5.6%	-5.6%	-5.6%	-9.2%	-9.2%	-9.2%	-9.2%	-9.2%	-9.2%	-9.2%	-9.2%		-33.3%	-33.3%	-27.4%	-27.4%	-34.3%	-32.3%	-27.4%	-27.4%	-9.4%	-27.4%	-27.4%	-27.4%
	Month 23	-26.3%	-25.5%	-25.5%	-25.5%	-18.8%	-25.5%	-25.5%	-25.5%	-25.5%	-25.5%	-25.5%	-27.6%	-25.5%	-25.5%	-25.5%	-25.5%	-30.2%	-24.7%	-25.5%		-9.5%	-9.5%	-9.5%	-9.5%	-9.5%	-9.5%	-9.5%	-8.5%	-8.5%	-8.5%	-8.5%	-8.5%	-8.5%	-9.5%	-9.5%		-5.4%	-5.4%	-5.4%	-5.4%	-5.4%	-5.4%	-8.8%	-8.8%	-8.8%	-8.8%	-8.8%	-8.8%	-8.8%	-8.8%		-33.2%	-33.2%	-27.2%	-27.2%	-34.1%	-32.3%	-27.2%	-27.2%	-9.4%	-27.2%	-27.2%	-27.2%
	Month 24	-26.3%	-25.4%	-25.4%	-25.4%	-18.4%	-25.4%	-25.4%	-25.4%	-25.4%	-25.4%	-25.4%	-27.4%	-25.4%	-25.4%	-25.4%	-25.4%	-30.2%	-24.5%	-25.4%		-9.1%	-9.1%	-9.1%	-9.1%	-9.1%	-9.1%	-9.1%	-8.2%	-8.2%	-8.2%	-8.2%	-8.2%	-8.2%	-9.1%	-9.1%		-5.2%	-5.2%	-5.2%	-5.2%	-5.2%	-5.2%	-8.5%	-8.5%	-8.5%	-8.5%	-8.5%	-8.5%	-8.5%	-8.5%		-33.0%	-33.0%	-27.1%	-27.1%	-33.9%	-32.3%	-27.1%	-27.1%	-9.3%	-27.1%	-27.1%	-27.1%
	Year 3	-26.0%	-24.1%	-24.1%	-24.1%	-15.4%	-24.1%	-24.1%	-24.1%	-24.1%	-24.1%	-24.1%	-26.0%	-24.1%	-24.1%	-24.1%	-24.1%	-29.7%	-23.3%	-24.1%		-6.4%	-6.4%	-6.4%	-6.4%	-6.4%	-6.4%	-6.4%	-5.7%	-5.7%	-5.7%	-5.7%	-5.7%	-5.7%	-6.4%	-6.4%		-3.7%	-3.7%	-3.7%	-3.7%	-3.7%	-3.7%	-6.0%	-6.0%	-6.0%	-6.0%	-6.0%	-6.0%	-6.0%	-6.0%		-32.3%	-32.3%	-26.5%	-26.5%	-32.5%	-32.1%	-26.5%	-26.5%	-9.1%	-26.5%	-26.5%	-26.5%
	Year 4	-25.9%	-23.5%	-23.5%	-23.5%	-14.1%	-23.5%	-23.5%	-23.5%	-23.5%	-23.5%	-23.5%	-25.4%	-23.5%	-23.5%	-23.5%	-23.5%	-29.6%	-22.8%	-23.5%		-5.4%	-5.4%	-5.4%	-5.4%	-5.4%	-5.4%	-5.4%	-4.8%	-4.8%	-4.8%	-4.8%	-4.8%	-4.8%	-5.4%	-5.4%		-3.1%	-3.1%	-3.1%	-3.1%	-3.1%	-3.1%	-5.0%	-5.0%	-5.0%	-5.0%	-5.0%	-5.0%	-5.0%	-5.0%		-32.1%	-32.1%	-26.4%	-26.4%	-32.2%	-32.1%	-26.4%	-26.4%	-9.1%	-26.4%	-26.4%	-26.4%
	Year 5	-25.9%	-23.3%	-23.3%	-23.3%	-13.4%	-23.3%	-23.3%	-23.3%	-23.3%	-23.3%	-23.3%	-25.2%	-23.3%	-23.3%	-23.3%	-23.3%	-29.5%	-22.5%	-23.3%		-5.0%	-5.0%	-5.0%	-5.0%	-5.0%	-5.0%	-5.0%	-4.5%	-4.5%	-4.5%	-4.5%	-4.5%	-4.5%	-5.0%	-5.0%		-2.9%	-2.9%	-2.9%	-2.9%	-2.9%	-2.9%	-4.7%	-4.7%	-4.7%	-4.7%	-4.7%	-4.7%	-4.7%	-4.7%		-32.1%	-32.1%	-26.3%	-26.3%	-32.1%	-32.1%	-26.3%	-26.3%	-9.1%	-26.3%	-26.3%	-26.3%
	Year 6	-25.9%	-23.2%	-23.2%	-23.2%	-13.2%	-23.2%	-23.2%	-23.2%	-23.2%	-23.2%	-23.2%	-25.1%	-23.2%	-23.2%	-23.2%	-23.2%	-29.5%	-22.5%	-23.2%		-4.9%	-4.9%	-4.9%	-4.9%	-4.9%	-4.9%	-4.9%	-4.4%	-4.4%	-4.4%	-4.4%	-4.4%	-4.4%	-4.9%	-4.9%		-2.8%	-2.8%	-2.8%	-2.8%	-2.8%	-2.8%	-4.5%	-4.5%	-4.5%	-4.5%	-4.5%	-4.5%	-4.5%	-4.5%		-32.0%	-32.0%	-26.3%	-26.3%	-32.1%	-32.1%	-26.3%	-26.3%	-9.1%	-26.3%	-26.3%	-26.3%
	Year 7	-25.9%	-23.2%	-23.2%	-23.2%	-13.0%	-23.2%	-23.2%	-23.2%	-23.2%	-23.2%	-23.2%	-25.1%	-23.2%	-23.2%	-23.2%	-23.2%	-29.5%	-22.4%	-23.2%		-4.9%	-4.9%	-4.9%	-4.9%	-4.9%	-4.9%	-4.9%	-4.3%	-4.3%	-4.3%	-4.3%	-4.3%	-4.3%	-4.9%	-4.9%		-2.8%	-2.8%	-2.8%	-2.8%	-2.8%	-2.8%	-4.5%	-4.5%	-4.5%	-4.5%	-4.5%	-4.5%	-4.5%	-4.5%		-32.0%	-32.0%	-26.3%	-26.3%	-32.1%	-32.1%	-26.3%	-26.3%	-9.1%	-26.3%	-26.3%	-26.3%
	Year 8	-25.9%	-23.2%	-23.2%	-23.2%	-13.0%	-23.2%	-23.2%	-23.2%	-23.2%	-23.2%	-23.2%	-25.1%	-23.2%	-23.2%	-23.2%	-23.2%	-29.5%	-22.4%	-23.2%		-4.8%	-4.8%	-4.8%	-4.8%	-4.8%	-4.8%	-4.8%	-4.3%	-4.3%	-4.3%	-4.3%	-4.3%	-4.3%	-4.8%	-4.8%		-2.8%	-2.8%	-2.8%	-2.8%	-2.8%	-2.8%	-4.5%	-4.5%	-4.5%	-4.5%	-4.5%	-4.5%	-4.5%	-4.5%		-32.0%	-32.0%	-26.3%	-26.3%	-32.1%	-32.1%	-26.3%	-26.3%	-9.1%	-26.3%	-26.3%	-26.3%
	Year 9	-25.9%	-23.2%	-23.2%	-23.2%	-13.0%	-23.2%	-23.2%	-23.2%	-23.2%	-23.2%	-23.2%	-25.0%	-23.2%	-23.2%	-23.2%	-23.2%	-29.5%	-22.4%	-23.2%		-4.8%	-4.8%	-4.8%	-4.8%	-4.8%	-4.8%	-4.8%	-4.3%	-4.3%	-4.3%	-4.3%	-4.3%	-4.3%	-4.8%	-4.8%		-2.8%	-2.8%	-2.8%	-2.8%	-2.8%	-2.8%	-4.5%	-4.5%	-4.5%	-4.5%	-4.5%	-4.5%	-4.5%	-4.5%		-32.0%	-32.0%	-26.3%	-26.3%	-32.1%	-32.1%	-26.3%	-26.3%	-9.1%	-26.3%	-26.3%	-26.3%
	Year 10-14	-25.9%	-23.2%	-23.2%	-23.2%	-13.0%	-23.2%	-23.2%	-23.2%	-23.2%	-23.2%	-23.2%	-25.0%	-23.2%	-23.2%	-23.2%	-23.2%	-29.5%	-22.4%	-23.2%		-4.8%	-4.8%	-4.8%	-4.8%	-4.8%	-4.8%	-4.8%	-4.3%	-4.3%	-4.3%	-4.3%	-4.3%	-4.3%	-4.8%	-4.8%		-2.8%	-2.8%	-2.8%	-2.8%	-2.8%	-2.8%	-4.5%	-4.5%	-4.5%	-4.5%	-4.5%	-4.5%	-4.5%	-4.5%		-32.0%	-32.0%	-26.3%	-26.3%	-32.1%	-32.1%	-26.3%	-26.3%	-9.1%	-26.3%	-26.3%	-26.3%
	Year 15-19	-25.9%	-23.2%	-23.2%	-23.2%	-12.9%	-23.2%	-23.2%	-23.2%	-23.2%	-23.2%	-23.2%	-25.0%	-23.2%	-23.2%	-23.2%	-23.2%	-29.5%	-22.4%	-23.2%		-4.8%	-4.8%	-4.8%	-4.8%	-4.8%	-4.8%	-4.8%	-4.3%	-4.3%	-4.3%	-4.3%	-4.3%	-4.3%	-4.8%	-4.8%		-2.8%	-2.8%	-2.8%	-2.8%	-2.8%	-2.8%	-4.5%	-4.5%	-4.5%	-4.5%	-4.5%	-4.5%	-4.5%	-4.5%		-32.0%	-32.0%	-26.3%	-26.3%	-32.1%	-32.1%	-26.3%	-26.3%	-9.1%	-26.3%	-26.3%	-26.3%
	Year 20+	-25.9%	-23.2%	-23.2%	-23.2%	-12.9%	-23.2%	-23.2%	-23.2%	-23.2%	-23.2%	-23.2%	-25.0%	-23.2%	-23.2%	-23.2%	-23.2%	-29.5%	-22.4%	-23.2%		-4.8%	-4.8%	-4.8%	-4.8%	-4.8%	-4.8%	-4.8%	-4.3%	-4.3%	-4.3%	-4.3%	-4.3%	-4.3%	-4.8%	-4.8%		-2.8%	-2.8%	-2.8%	-2.8%	-2.8%	-2.8%	-4.5%	-4.5%	-4.5%	-4.5%	-4.5%	-4.5%	-4.5%	-4.5%		-32.0%	-32.0%	-26.3%	-26.3%	-32.1%	-32.1%	-26.3%	-26.3%	-9.1%	-26.3%	-26.3%	-26.3%
	Absolute Vega Shock (Vol Pts)
	Total Vega	25.8	24.0	24.0	24.0	23.0	24.0	24.0	24.0	24.0	24.0	24.0	22.7	24.0	24.0	24.0	24.0	26.1	22.6	24.0		15.7	15.7	15.7	15.7	15.7	15.7	15.7	14.0	14.0	14.0	14.0	14.0	14.0	15.7	15.7		12.3	12.3	12.3	12.3	12.3	12.3	20.1	20.1	20.1	20.1	20.1	20.1	20.1	20.1		28.7	28.7	23.5	23.5	34.4	23.0	23.5	23.5	8.1	23.5	23.5	23.5
	Relative Vega Shock (%)
	Total Vega	54.8%	58.8%	50.2%	51.0%	47.5%	51.0%	51.0%	49.5%	51.0%	39.1%	49.5%	36.0%	72.2%	49.5%	51.0%	35.5%	41.1%	41.8%	51.0%		13.6%	13.6%	13.2%	13.6%	6.5%	17.0%	13.6%	3.2%	3.2%	3.2%	3.2%	3.2%	3.2%	12.4%	12.4%		5.6%	5.6%	5.6%	6.8%	5.6%	5.6%	4.8%	4.8%	4.8%	21.6%	3.9%	4.8%	4.8%	9.1%		51.8%	51.8%	42.4%	42.4%	75.7%	50.6%	51.7%	51.7%	11.8%	34.3%	65.2%	65.2%

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Sheet 11: Metals

2023 GMS Component: Severely Adverse Scenario
Metals
		P R E C I O U S M E T A L S						B A S E M E T A L S
	Relative Price Shock (%)	Gold	Silver	Palladium	Platinum	Other Precious Metals		Aluminum (Primary)	Aluminum (Alloy)	Copper	Iron	Lead	Nickel	Tin	Uranium	Zinc	Other Base Metals		Other / Unspecified Metals
	Spot	15.0%	8.1%	2.2%	2.2%	2.2%		-30.4%	-30.4%	-36.7%	-33.5%	-33.5%	-33.5%	-33.5%	-33.5%	-33.5%	-33.5%		-33.5%
	Month 1	15.0%	8.0%	2.2%	2.2%	2.2%		-30.2%	-30.2%	-36.2%	-33.2%	-33.2%	-33.2%	-33.2%	-33.2%	-33.2%	-33.2%		-33.2%
	Month 2	14.9%	8.0%	2.2%	2.2%	2.2%		-30.0%	-30.0%	-35.7%	-32.8%	-32.8%	-32.8%	-32.8%	-32.8%	-32.8%	-32.8%		-32.8%
	Month 3	14.9%	7.9%	2.2%	2.2%	2.2%		-29.8%	-29.8%	-35.2%	-32.5%	-32.5%	-32.5%	-32.5%	-32.5%	-32.5%	-32.5%		-32.5%
	Month 4	14.9%	7.9%	2.2%	2.2%	2.2%		-29.5%	-29.5%	-34.8%	-32.2%	-32.2%	-32.2%	-32.2%	-32.2%	-32.2%	-32.2%		-32.2%
	Month 5	14.9%	7.8%	2.2%	2.2%	2.2%		-29.3%	-29.3%	-34.4%	-31.9%	-31.9%	-31.9%	-31.9%	-31.9%	-31.9%	-31.9%		-31.9%
	Month 6	14.9%	7.8%	2.2%	2.2%	2.2%		-29.1%	-29.1%	-34.0%	-31.6%	-31.6%	-31.6%	-31.6%	-31.6%	-31.6%	-31.6%		-31.6%
	Month 7	14.9%	7.7%	2.2%	2.2%	2.2%		-28.9%	-28.9%	-33.7%	-31.3%	-31.3%	-31.3%	-31.3%	-31.3%	-31.3%	-31.3%		-31.3%
	Month 8	14.8%	7.7%	2.2%	2.2%	2.2%		-28.8%	-28.8%	-33.4%	-31.1%	-31.1%	-31.1%	-31.1%	-31.1%	-31.1%	-31.1%		-31.1%
	Month 9	14.8%	7.7%	2.2%	2.2%	2.2%		-28.6%	-28.6%	-33.1%	-30.8%	-30.8%	-30.8%	-30.8%	-30.8%	-30.8%	-30.8%		-30.8%
	Month 10	14.8%	7.6%	2.1%	2.1%	2.1%		-28.4%	-28.4%	-32.8%	-30.6%	-30.6%	-30.6%	-30.6%	-30.6%	-30.6%	-30.6%		-30.6%
	Month 11	14.8%	7.6%	2.1%	2.1%	2.1%		-28.2%	-28.2%	-32.5%	-30.3%	-30.3%	-30.3%	-30.3%	-30.3%	-30.3%	-30.3%		-30.3%
	Month 12	14.8%	7.6%	2.1%	2.1%	2.1%		-28.0%	-28.0%	-32.3%	-30.1%	-30.1%	-30.1%	-30.1%	-30.1%	-30.1%	-30.1%		-30.1%
	Month 13	14.8%	7.6%	2.1%	2.1%	2.1%		-27.8%	-27.8%	-32.0%	-29.9%	-29.9%	-29.9%	-29.9%	-29.9%	-29.9%	-29.9%		-29.9%
	Month 14	14.7%	7.6%	2.1%	2.1%	2.1%		-27.7%	-27.7%	-31.8%	-29.7%	-29.7%	-29.7%	-29.7%	-29.7%	-29.7%	-29.7%		-29.7%
	Month 15	14.7%	7.5%	2.1%	2.1%	2.1%		-27.5%	-27.5%	-31.6%	-29.5%	-29.5%	-29.5%	-29.5%	-29.5%	-29.5%	-29.5%		-29.5%
	Month 16	14.7%	7.5%	2.1%	2.1%	2.1%		-27.3%	-27.3%	-31.4%	-29.3%	-29.3%	-29.3%	-29.3%	-29.3%	-29.3%	-29.3%		-29.3%
	Month 17	14.7%	7.5%	2.1%	2.1%	2.1%		-27.1%	-27.1%	-31.2%	-29.2%	-29.2%	-29.2%	-29.2%	-29.2%	-29.2%	-29.2%		-29.2%
	Month 18	14.7%	7.5%	2.1%	2.1%	2.1%		-27.0%	-27.0%	-31.0%	-29.0%	-29.0%	-29.0%	-29.0%	-29.0%	-29.0%	-29.0%		-29.0%
	Month 19	14.7%	7.5%	2.1%	2.1%	2.1%		-26.8%	-26.8%	-30.9%	-28.8%	-28.8%	-28.8%	-28.8%	-28.8%	-28.8%	-28.8%		-28.8%
	Month 20	14.7%	7.5%	2.1%	2.1%	2.1%		-26.6%	-26.6%	-30.7%	-28.7%	-28.7%	-28.7%	-28.7%	-28.7%	-28.7%	-28.7%		-28.7%
	Month 21	14.6%	7.5%	2.1%	2.1%	2.1%		-26.5%	-26.5%	-30.6%	-28.5%	-28.5%	-28.5%	-28.5%	-28.5%	-28.5%	-28.5%		-28.5%
	Month 22	14.6%	7.5%	2.1%	2.1%	2.1%		-26.3%	-26.3%	-30.4%	-28.4%	-28.4%	-28.4%	-28.4%	-28.4%	-28.4%	-28.4%		-28.4%
	Month 23	14.6%	7.5%	2.1%	2.1%	2.1%		-26.2%	-26.2%	-30.3%	-28.2%	-28.2%	-28.2%	-28.2%	-28.2%	-28.2%	-28.2%		-28.2%
	Month 24	14.6%	7.5%	2.1%	2.1%	2.1%		-26.0%	-26.0%	-30.2%	-28.1%	-28.1%	-28.1%	-28.1%	-28.1%	-28.1%	-28.1%		-28.1%
	Year 3	14.5%	7.4%	2.1%	2.1%	2.1%		-24.4%	-24.4%	-29.2%	-26.8%	-26.8%	-26.8%	-26.8%	-26.8%	-26.8%	-26.8%		-26.8%
	Year 4	14.5%	7.4%	2.1%	2.1%	2.1%		-23.1%	-23.1%	-28.8%	-25.9%	-25.9%	-25.9%	-25.9%	-25.9%	-25.9%	-25.9%		-25.9%
	Year 5	14.5%	7.4%	2.1%	2.1%	2.1%		-22.1%	-22.1%	-28.6%	-25.3%	-25.3%	-25.3%	-25.3%	-25.3%	-25.3%	-25.3%		-25.3%
	Year 6	14.5%	7.4%	2.1%	2.1%	2.1%		-21.3%	-21.3%	-28.5%	-24.9%	-24.9%	-24.9%	-24.9%	-24.9%	-24.9%	-24.9%		-24.9%
	Year 7	14.5%	7.4%	2.1%	2.1%	2.1%		-20.6%	-20.6%	-28.4%	-24.5%	-24.5%	-24.5%	-24.5%	-24.5%	-24.5%	-24.5%		-24.5%
	Year 8	14.5%	7.4%	2.1%	2.1%	2.1%		-20.2%	-20.2%	-28.4%	-24.3%	-24.3%	-24.3%	-24.3%	-24.3%	-24.3%	-24.3%		-24.3%
	Year 9	14.5%	7.4%	2.1%	2.1%	2.1%		-19.8%	-19.8%	-28.4%	-24.1%	-24.1%	-24.1%	-24.1%	-24.1%	-24.1%	-24.1%		-24.1%
	Year 10-14	14.5%	7.4%	2.1%	2.1%	2.1%		-19.5%	-19.5%	-28.4%	-24.0%	-24.0%	-24.0%	-24.0%	-24.0%	-24.0%	-24.0%		-24.0%
	Year 15-19	14.5%	7.4%	2.1%	2.1%	2.1%		-18.8%	-18.8%	-28.4%	-23.6%	-23.6%	-23.6%	-23.6%	-23.6%	-23.6%	-23.6%		-23.6%
	Year 20+	14.5%	7.4%	2.1%	2.1%	2.1%		-18.6%	-18.6%	-28.4%	-23.5%	-23.5%	-23.5%	-23.5%	-23.5%	-23.5%	-23.5%		-23.5%
	Absolute Vega Shock (Vol Pts)
	Total Vega	8.7	17.3	14.9	14.9	14.9		17.8	17.8	24.5	21.1	21.1	21.1	21.1	21.1	21.1	21.1		21.1
	Relative Vega Shock (%)
	Total Vega	47.7%	50.5%	30.0%	47.8%	81.8%		43.3%	43.3%	77.8%	67.0%	67.8%	42.9%	63.8%	116.7%	57.2%	67.0%		67.0%

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Sheet 12: Ags & Softs

2023 GMS Component: Severely Adverse Scenario
Ags & Softs
	Relative Price Shock (%)	Cocoa	Coffee	Corn	Cotton	Cattle	Lean Hogs	Livestock	Lumber	Palm Oil	Rapeseed	Soybeans	Soymeal	Soybean Oil	Sugar	Wheat	Other / Unspecified Ags/Softs
	Spot	-11.8%	-11.8%	-11.8%	-11.8%	-11.8%	-11.8%	-11.8%	-11.8%	-11.8%	-11.8%	-11.8%	-11.8%	-11.8%	-11.8%	-11.8%	-11.8%
	Month 1	-11.8%	-11.8%	-11.8%	-11.8%	-11.8%	-11.8%	-11.8%	-11.8%	-11.8%	-11.8%	-11.8%	-11.8%	-11.8%	-11.8%	-11.8%	-11.8%
	Month 2	-11.6%	-11.6%	-11.6%	-11.6%	-11.6%	-11.6%	-11.6%	-11.6%	-11.6%	-11.6%	-11.6%	-11.6%	-11.6%	-11.6%	-11.6%	-11.6%
	Month 3	-11.4%	-11.4%	-11.4%	-11.4%	-11.4%	-11.4%	-11.4%	-11.4%	-11.4%	-11.4%	-11.4%	-11.4%	-11.4%	-11.4%	-11.4%	-11.4%
	Month 4	-11.4%	-11.4%	-11.4%	-11.4%	-11.4%	-11.4%	-11.4%	-11.4%	-11.4%	-11.4%	-11.4%	-11.4%	-11.4%	-11.4%	-11.4%	-11.4%
	Month 5	-11.2%	-11.2%	-11.2%	-11.2%	-11.2%	-11.2%	-11.2%	-11.2%	-11.2%	-11.2%	-11.2%	-11.2%	-11.2%	-11.2%	-11.2%	-11.2%
	Month 6	-11.1%	-11.1%	-11.1%	-11.1%	-11.1%	-11.1%	-11.1%	-11.1%	-11.1%	-11.1%	-11.1%	-11.1%	-11.1%	-11.1%	-11.1%	-11.1%
	Month 7	-11.1%	-11.1%	-11.1%	-11.1%	-11.1%	-11.1%	-11.1%	-11.1%	-11.1%	-11.1%	-11.1%	-11.1%	-11.1%	-11.1%	-11.1%	-11.1%
	Month 8	-11.1%	-11.1%	-11.1%	-11.1%	-11.1%	-11.1%	-11.1%	-11.1%	-11.1%	-11.1%	-11.1%	-11.1%	-11.1%	-11.1%	-11.1%	-11.1%
	Month 9	-10.9%	-10.9%	-10.9%	-10.9%	-10.9%	-10.9%	-10.9%	-10.9%	-10.9%	-10.9%	-10.9%	-10.9%	-10.9%	-10.9%	-10.9%	-10.9%
	Month 10	-10.9%	-10.9%	-10.9%	-10.9%	-10.9%	-10.9%	-10.9%	-10.9%	-10.9%	-10.9%	-10.9%	-10.9%	-10.9%	-10.9%	-10.9%	-10.9%
	Month 11	-10.9%	-10.9%	-10.9%	-10.9%	-10.9%	-10.9%	-10.9%	-10.9%	-10.9%	-10.9%	-10.9%	-10.9%	-10.9%	-10.9%	-10.9%	-10.9%
	Month 12	-10.7%	-10.7%	-10.7%	-10.7%	-10.7%	-10.7%	-10.7%	-10.7%	-10.7%	-10.7%	-10.7%	-10.7%	-10.7%	-10.7%	-10.7%	-10.7%
	Month 13	-10.7%	-10.7%	-10.7%	-10.7%	-10.7%	-10.7%	-10.7%	-10.7%	-10.7%	-10.7%	-10.7%	-10.7%	-10.7%	-10.7%	-10.7%	-10.7%
	Month 14	-10.7%	-10.7%	-10.7%	-10.7%	-10.7%	-10.7%	-10.7%	-10.7%	-10.7%	-10.7%	-10.7%	-10.7%	-10.7%	-10.7%	-10.7%	-10.7%
	Month 15	-10.7%	-10.7%	-10.7%	-10.7%	-10.7%	-10.7%	-10.7%	-10.7%	-10.7%	-10.7%	-10.7%	-10.7%	-10.7%	-10.7%	-10.7%	-10.7%
	Month 16	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%
	Month 17	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%
	Month 18	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%
	Month 19	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%
	Month 20	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%
	Month 21	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%
	Month 22	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%
	Month 23	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%
	Month 24	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%	-10.5%
	Year 3	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%
	Year 4	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%
	Year 5	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%
	Year 6	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%
	Year 7	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%
	Year 8	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%
	Year 9	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%
	Year 10-14	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%
	Year 15-19	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%
	Year 20+	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%	-10.3%
	Absolute Vega Shock (Vol Pts)
	Total Vega	6.6	6.6	6.6	6.6	6.6	6.6	6.6	6.6	6.6	6.6	6.6	6.6	6.6	6.6	6.6	6.6
	Relative Vega Shock (%)
	Total Vega	25.3%	17.7%	37.3%	14.4%	54.8%	172.8%	172.8%	11.4%	15.5%	35.9%	38.6%	28.0%	21.7%	31.5%	16.7%	37.3%

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Sheet 13: Commodity Indices

2023 GMS Component: Severely Adverse Scenario
Diversified Commodity Indices
	Relative Price Shock (%)	S&P GSCI Index	DJ-UBS Index	TR/J CRB Index	Other Diversified Indices		Long/Short Commodity Indices
	Spot	-25.8%	-17.4%	-22.1%	-23.9%		-3.2%
	Month 1	-25.2%	-17.1%	-21.7%	-23.4%		-3.1%
	Month 2	-24.6%	-16.8%	-21.3%	-23.0%		-3.0%
	Month 3	-24.1%	-16.4%	-20.9%	-22.5%		-2.9%
	Month 4	-23.6%	-16.1%	-20.5%	-22.1%		-2.8%
	Month 5	-23.2%	-15.9%	-20.2%	-21.7%		-2.8%
	Month 6	-22.7%	-15.6%	-19.8%	-21.3%		-2.7%
	Month 7	-22.3%	-15.3%	-19.5%	-20.9%		-2.7%
	Month 8	-21.9%	-15.1%	-19.2%	-20.5%		-2.6%
	Month 9	-21.6%	-14.8%	-18.9%	-20.2%		-2.6%
	Month 10	-21.2%	-14.6%	-18.5%	-19.9%		-2.5%
	Month 11	-20.9%	-14.4%	-18.3%	-19.6%		-2.5%
	Month 12	-20.6%	-14.2%	-18.0%	-19.3%		-2.4%
	Month 13	-20.3%	-14.0%	-17.7%	-19.0%		-2.4%
	Month 14	-20.1%	-13.9%	-17.5%	-18.8%		-2.4%
	Month 15	-19.9%	-13.7%	-17.2%	-18.5%		-2.3%
	Month 16	-19.6%	-13.6%	-17.0%	-18.3%		-2.3%
	Month 17	-19.4%	-13.4%	-16.8%	-18.1%		-2.3%
	Month 18	-19.2%	-13.3%	-16.6%	-17.9%		-2.3%
	Month 19	-19.0%	-13.2%	-16.4%	-17.7%		-2.2%
	Month 20	-18.9%	-13.0%	-16.3%	-17.6%		-2.2%
	Month 21	-18.7%	-12.9%	-16.1%	-17.4%		-2.2%
	Month 22	-18.5%	-12.8%	-15.9%	-17.2%		-2.2%
	Month 23	-18.4%	-12.7%	-15.8%	-17.1%		-2.2%
	Month 24	-18.3%	-12.6%	-15.6%	-17.0%		-2.2%
	Year 3	-17.2%	-11.9%	-14.5%	-15.9%		-2.1%
	Year 4	-16.7%	-11.5%	-13.9%	-15.3%		-2.0%
	Year 5	-16.5%	-11.4%	-13.7%	-15.1%		-2.0%
	Year 6	-16.4%	-11.3%	-13.5%	-14.9%		-2.0%
	Year 7	-16.3%	-11.2%	-13.5%	-14.9%		-2.0%
	Year 8	-16.3%	-11.2%	-13.4%	-14.8%		-2.0%
	Year 9	-16.2%	-11.1%	-13.4%	-14.8%		-2.0%
	Year 10-14	-16.2%	-11.1%	-13.4%	-14.8%		-2.0%
	Year 15-19	-16.2%	-11.1%	-13.3%	-14.7%		-2.0%
	Year 20+	-16.2%	-11.0%	-13.3%	-14.7%		-2.0%
	Absolute Vega Shock (Vol Pts)
	Total Vega	17.9	12.0	15.3	16.6		2.2
	Relative Vega Shock (%)
	Total Vega	49.7%	52.1%	67.0%	72.7%		9.6%

---

Sheet 14: Securitized Products

2023 GMS Component: Severely Adverse Scenario
Securitized Products
		RMBS															ABS							CMBS							Corporate CDO / CLO		Warehouse
		Non-Agency Prime	Sub-prime	Option ARMS	Other AltA	Unspec Non-Prime	HELOC	RMBS CDO	RMBS CDS	Credit Basket	PrimeX	ABX / TABX	Prime Whole Loans	Non-Prime Whole Loans	European RMBS	Other / Unspecified	Autos	Credit Cards	Student Loans	ABS CDS	Credit Basket	Index Tranches	Other / Unspecified	Cash Non-Agency CMBS	CMBS CDS	CMBS CDO	Credit Basket	Index Tranches	Whole Loans	Other / Unspecified	CLO	Other / Unspecified	Total Size	Total Protection	Other / Unspecified
	Relative MV Shock Based on Current Rating (%)
	AAA Total
	> 9Y	-16.4%	-26.5%	-26.5%	-26.5%	-26.5%	-26.5%	-33.1%	-22.5%	-22.5%	-13.9%	-22.5%	-30.9%	-52.6%	-18.0%	-33.1%	-8.1%	-16.3%	-14.5%	-16.3%	-16.3%	-16.3%	-16.3%	-6.1%	-5.2%	-7.6%	-5.2%	-5.2%	-24.9%	-7.6%	-17.5%	-17.5%	-52.6%	52.6%	-33.1%
	> 6Y and <= 9Y	-17.2%	-33.1%	-33.1%	-33.1%	-33.1%	-33.1%	-41.3%	-28.1%	-28.1%	-14.6%	-28.1%	-25.5%	-51.1%	-19.0%	-41.3%	-8.1%	-16.3%	-10.0%	-16.3%	-16.3%	-16.3%	-16.3%	-19.4%	-16.5%	-24.3%	-16.5%	-16.5%	-35.5%	-24.3%	-17.5%	-17.5%	-51.1%	51.1%	-41.3%
	> 3Y and <= 6Y	-13.5%	-33.1%	-33.1%	-33.1%	-33.1%	-33.1%	-41.3%	-28.1%	-28.1%	-11.5%	-28.1%	-22.2%	-51.1%	-14.8%	-41.3%	-8.1%	-16.3%	-8.3%	-16.3%	-16.3%	-16.3%	-16.3%	-30.9%	-26.3%	-38.6%	-26.3%	-26.3%	-44.7%	-38.6%	-18.9%	-18.9%	-51.1%	51.1%	-41.3%
	<= 3Y	-8.7%	-33.1%	-33.1%	-33.1%	-33.1%	-33.1%	-41.3%	-28.1%	-28.1%	-7.4%	-28.1%	-17.9%	-51.1%	-9.6%	-41.3%	-11.9%	-10.0%	-10.1%	-11.9%	-11.9%	-11.9%	-11.9%	-38.5%	-32.7%	-48.1%	-32.7%	-32.7%	-50.8%	-48.1%	-22.6%	-22.6%	-51.1%	51.1%	-48.1%
	Unspecified Vintage	-17.2%	-33.1%	-33.1%	-33.1%	-33.1%	-33.1%	-41.3%	-28.1%	-28.1%	-14.6%	-28.1%	-30.9%	-52.6%	-19.0%	-41.3%	-11.9%	-16.3%	-14.5%	-16.3%	-16.3%	-16.3%	-16.3%	-38.5%	-32.7%	-48.1%	-32.7%	-32.7%	-50.8%	-48.1%	-22.6%	-22.6%	-52.6%	52.6%	-48.1%
	AA Total
	> 9Y	-19.5%	-27.3%	-27.3%	-27.3%	-27.3%	-27.3%	-34.1%	-23.2%	-23.2%	-16.6%	-23.2%	-30.9%	-52.6%	-21.5%	-34.1%	-8.6%	-16.3%	-14.5%	-16.3%	-16.3%	-16.3%	-16.3%	-8.7%	-7.4%	-10.9%	-7.4%	-7.4%	-24.9%	-10.9%	-34.0%	-34.0%	-52.6%	52.6%	-34.1%
	> 6Y and <= 9Y	-21.6%	-34.1%	-34.1%	-34.1%	-34.1%	-34.1%	-42.6%	-29.0%	-29.0%	-18.4%	-29.0%	-25.5%	-51.1%	-23.8%	-42.6%	-8.6%	-16.3%	-12.3%	-16.3%	-16.3%	-16.3%	-16.3%	-36.2%	-30.8%	-45.3%	-30.8%	-30.8%	-35.5%	-45.3%	-34.0%	-34.0%	-51.1%	51.1%	-45.3%
	> 3Y and <= 6Y	-27.0%	-34.1%	-34.1%	-34.1%	-34.1%	-34.1%	-42.6%	-29.0%	-29.0%	-23.0%	-29.0%	-22.2%	-51.1%	-29.7%	-42.6%	-8.6%	-16.3%	-12.0%	-16.3%	-16.3%	-16.3%	-16.3%	-49.7%	-42.2%	-62.1%	-42.2%	-42.2%	-44.7%	-62.1%	-36.0%	-36.0%	-51.1%	51.1%	-62.1%
	<= 3Y	-14.0%	-34.1%	-34.1%	-34.1%	-34.1%	-34.1%	-42.6%	-29.0%	-29.0%	-11.9%	-29.0%	-17.9%	-51.1%	-15.4%	-42.6%	-12.0%	-10.0%	-13.0%	-13.0%	-13.0%	-13.0%	-13.0%	-60.3%	-51.3%	-75.4%	-51.3%	-51.3%	-50.8%	-75.4%	-39.2%	-39.2%	-51.1%	51.1%	-75.4%
	Unspecified Vintage	-27.0%	-34.1%	-34.1%	-34.1%	-34.1%	-34.1%	-42.6%	-29.0%	-29.0%	-23.0%	-29.0%	-30.9%	-52.6%	-29.7%	-42.6%	-12.0%	-16.3%	-14.5%	-16.3%	-16.3%	-16.3%	-16.3%	-60.3%	-51.3%	-75.4%	-51.3%	-51.3%	-50.8%	-75.4%	-39.2%	-39.2%	-52.6%	52.6%	-75.4%
	A Total
	> 9Y	-32.9%	-32.9%	-32.9%	-32.9%	-32.9%	-32.9%	-41.1%	-28.0%	-28.0%	-28.0%	-28.0%	-30.9%	-52.6%	-36.2%	-41.1%	-10.8%	-18.3%	-16.5%	-18.3%	-18.3%	-18.3%	-18.3%	-25.4%	-21.6%	-31.8%	-21.6%	-21.6%	-24.9%	-31.8%	-38.5%	-38.5%	-52.6%	52.6%	-41.1%
	> 6Y and <= 9Y	-32.9%	-36.9%	-36.9%	-36.9%	-36.9%	-36.9%	-46.1%	-31.3%	-31.3%	-28.0%	-31.3%	-25.5%	-51.1%	-36.2%	-46.1%	-10.8%	-18.3%	-14.4%	-18.3%	-18.3%	-18.3%	-18.3%	-43.4%	-36.9%	-54.3%	-36.9%	-36.9%	-35.5%	-54.3%	-38.5%	-38.5%	-51.1%	51.1%	-54.3%
	> 3Y and <= 6Y	-29.2%	-36.9%	-36.9%	-36.9%	-36.9%	-36.9%	-46.1%	-31.3%	-31.3%	-24.8%	-31.3%	-22.2%	-51.1%	-32.1%	-46.1%	-10.8%	-18.3%	-14.1%	-18.3%	-18.3%	-18.3%	-18.3%	-55.1%	-46.8%	-68.8%	-46.8%	-46.8%	-44.7%	-68.8%	-39.5%	-39.5%	-51.1%	51.1%	-68.8%
	<= 3Y	-20.9%	-36.9%	-36.9%	-36.9%	-36.9%	-36.9%	-46.1%	-31.3%	-31.3%	-17.7%	-31.3%	-17.9%	-51.1%	-22.9%	-46.1%	-12.0%	-10.0%	-13.0%	-13.0%	-13.0%	-13.0%	-13.0%	-70.3%	-59.8%	-85.0%	-59.8%	-59.8%	-50.8%	-85.0%	-43.7%	-43.7%	-51.1%	51.1%	-85.0%
	Unspecified Vintage	-32.9%	-36.9%	-36.9%	-36.9%	-36.9%	-36.9%	-46.1%	-31.3%	-31.3%	-28.0%	-31.3%	-30.9%	-52.6%	-36.2%	-46.1%	-12.0%	-18.3%	-16.5%	-18.3%	-18.3%	-18.3%	-18.3%	-70.3%	-59.8%	-85.0%	-59.8%	-59.8%	-50.8%	-85.0%	-43.7%	-43.7%	-52.6%	52.6%	-85.0%
	BBB Total
	> 9Y	-34.9%	-38.7%	-38.7%	-38.7%	-38.7%	-38.7%	-48.3%	-32.9%	-32.9%	-29.7%	-32.9%	-30.9%	-52.6%	-38.4%	-48.3%	-13.4%	-20.7%	-19.0%	-20.7%	-20.7%	-20.7%	-20.7%	-30.4%	-25.9%	-38.0%	-25.9%	-25.9%	-24.9%	-38.0%	-44.0%	-44.0%	-52.6%	52.6%	-48.3%
	> 6Y and <= 9Y	-34.9%	-48.3%	-48.3%	-48.3%	-48.3%	-48.3%	-60.4%	-41.1%	-41.1%	-29.7%	-41.1%	-25.5%	-51.1%	-38.4%	-60.4%	-13.4%	-20.7%	-17.0%	-20.7%	-20.7%	-20.7%	-20.7%	-44.9%	-38.1%	-56.1%	-38.1%	-38.1%	-35.5%	-56.1%	-44.0%	-44.0%	-51.1%	51.1%	-60.4%
	> 3Y and <= 6Y	-36.5%	-48.3%	-48.3%	-48.3%	-48.3%	-48.3%	-60.4%	-41.1%	-41.1%	-31.0%	-41.1%	-22.2%	-51.1%	-40.2%	-60.4%	-13.4%	-20.7%	-16.6%	-20.7%	-20.7%	-20.7%	-20.7%	-57.8%	-49.1%	-72.3%	-49.1%	-49.1%	-44.7%	-72.3%	-44.2%	-44.2%	-51.1%	51.1%	-72.3%
	<= 3Y	-52.4%	-52.4%	-52.4%	-52.4%	-52.4%	-52.4%	-65.5%	-44.6%	-44.6%	-44.6%	-44.6%	-17.9%	-51.1%	-57.7%	-65.5%	-20.2%	-18.4%	-21.1%	-21.1%	-21.1%	-21.1%	-21.1%	-70.3%	-59.8%	-85.0%	-59.8%	-59.8%	-50.8%	-85.0%	-49.1%	-49.1%	-51.1%	51.1%	-85.0%
	Unspecified Vintage	-52.4%	-52.4%	-52.4%	-52.4%	-52.4%	-52.4%	-65.5%	-44.6%	-44.6%	-44.6%	-44.6%	-30.9%	-52.6%	-57.7%	-65.5%	-20.2%	-20.7%	-21.1%	-21.1%	-21.1%	-21.1%	-21.1%	-70.3%	-59.8%	-85.0%	-59.8%	-59.8%	-50.8%	-85.0%	-49.1%	-49.1%	-52.6%	52.6%	-85.0%
	BB Total
	> 9Y	-34.9%	-38.7%	-38.7%	-38.7%	-38.7%	-38.7%	-48.3%	-32.9%	-32.9%	-29.7%	-32.9%	-30.9%	-52.6%	-38.4%	-48.3%	-13.4%	-20.7%	-19.0%	-20.7%	-20.7%	-20.7%	-20.7%	-40.4%	-34.4%	-50.5%	-34.4%	-34.4%	-24.9%	-50.5%	-57.2%	-57.2%	-52.6%	52.6%	-57.2%
	> 6Y and <= 9Y	-34.9%	-48.3%	-48.3%	-48.3%	-48.3%	-48.3%	-60.4%	-41.1%	-41.1%	-29.7%	-41.1%	-25.5%	-51.1%	-38.4%	-60.4%	-13.4%	-20.7%	-17.0%	-20.7%	-20.7%	-20.7%	-20.7%	-56.7%	-48.2%	-70.9%	-48.2%	-48.2%	-35.5%	-70.9%	-57.2%	-57.2%	-51.1%	51.1%	-70.9%
	> 3Y and <= 6Y	-52.6%	-52.6%	-52.6%	-52.6%	-52.6%	-52.6%	-65.7%	-44.7%	-44.7%	-44.7%	-44.7%	-22.2%	-51.1%	-57.9%	-65.7%	-13.4%	-20.7%	-16.6%	-20.7%	-20.7%	-20.7%	-20.7%	-66.2%	-56.3%	-82.7%	-56.3%	-56.3%	-44.7%	-82.7%	-58.3%	-58.3%	-51.1%	51.1%	-82.7%
	<= 3Y	-52.6%	-52.6%	-52.6%	-52.6%	-52.6%	-52.6%	-65.7%	-44.7%	-44.7%	-44.7%	-44.7%	-17.9%	-51.1%	-57.9%	-65.7%	-38.0%	-36.7%	-38.8%	-38.8%	-38.8%	-38.8%	-38.8%	-70.3%	-59.8%	-85.0%	-59.8%	-59.8%	-50.8%	-85.0%	-60.8%	-60.8%	-51.1%	51.1%	-85.0%
	Unspecified Vintage	-52.6%	-52.6%	-52.6%	-52.6%	-52.6%	-52.6%	-65.7%	-44.7%	-44.7%	-44.7%	-44.7%	-30.9%	-52.6%	-57.9%	-65.7%	-38.0%	-36.7%	-38.8%	-38.8%	-38.8%	-38.8%	-38.8%	-70.3%	-59.8%	-85.0%	-59.8%	-59.8%	-50.8%	-85.0%	-60.8%	-60.8%	-52.6%	52.6%	-85.0%
	B Total
	> 9Y	-34.9%	-38.7%	-38.7%	-38.7%	-38.7%	-38.7%	-48.3%	-32.9%	-32.9%	-29.7%	-32.9%	-30.9%	-52.6%	-38.4%	-48.3%	-13.4%	-20.7%	-19.0%	-20.7%	-20.7%	-20.7%	-20.7%	-68.5%	-58.2%	-85.0%	-58.2%	-58.2%	-24.9%	-85.0%	-58.6%	-58.6%	-52.6%	52.6%	-85.0%
	> 6Y and <= 9Y	-34.9%	-48.3%	-48.3%	-48.3%	-48.3%	-48.3%	-60.4%	-41.1%	-41.1%	-29.7%	-41.1%	-25.5%	-51.1%	-38.4%	-60.4%	-13.4%	-20.7%	-17.0%	-20.7%	-20.7%	-20.7%	-20.7%	-68.0%	-57.8%	-85.0%	-57.8%	-57.8%	-35.5%	-85.0%	-58.6%	-58.6%	-51.1%	51.1%	-85.0%
	> 3Y and <= 6Y	-58.8%	-58.8%	-58.8%	-58.8%	-58.8%	-58.8%	-73.5%	-49.9%	-49.9%	-49.9%	-49.9%	-22.2%	-51.1%	-64.6%	-73.5%	-13.4%	-20.7%	-16.6%	-20.7%	-20.7%	-20.7%	-20.7%	-66.7%	-56.7%	-83.4%	-56.7%	-56.7%	-44.7%	-83.4%	-59.1%	-59.1%	-51.1%	51.1%	-83.4%
	<= 3Y	-83.3%	-83.3%	-83.3%	-83.3%	-83.3%	-83.3%	-85.0%	-70.8%	-70.8%	-70.8%	-70.8%	-17.9%	-51.1%	-85.0%	-85.0%	-38.0%	-36.7%	-38.8%	-38.8%	-38.8%	-38.8%	-38.8%	-70.3%	-59.8%	-85.0%	-59.8%	-59.8%	-50.8%	-85.0%	-60.8%	-60.8%	-51.1%	51.1%	-85.0%
	Unspecified Vintage	-83.3%	-83.3%	-83.3%	-83.3%	-83.3%	-83.3%	-85.0%	-70.8%	-70.8%	-70.8%	-70.8%	-30.9%	-52.6%	-85.0%	-85.0%	-38.0%	-36.7%	-38.8%	-38.8%	-38.8%	-38.8%	-38.8%	-70.3%	-59.8%	-85.0%	-59.8%	-59.8%	-50.8%	-85.0%	-60.8%	-60.8%	-52.6%	52.6%	-85.0%
	<B Total
	> 9Y	-34.9%	-47.8%	-47.8%	-47.8%	-47.8%	-47.8%	-59.8%	-40.6%	-40.6%	-29.7%	-40.6%	-30.9%	-52.6%	-38.4%	-59.8%	-13.4%	-20.7%	-19.0%	-20.7%	-20.7%	-20.7%	-20.7%	-68.5%	-58.2%	-85.0%	-58.2%	-58.2%	-24.9%	-85.0%	-62.5%	-62.5%	-52.6%	52.6%	-85.0%
	> 6Y and <= 9Y	-34.9%	-59.8%	-59.8%	-59.8%	-59.8%	-59.8%	-74.7%	-50.8%	-50.8%	-29.7%	-50.8%	-25.5%	-51.1%	-38.4%	-74.7%	-13.4%	-20.7%	-17.0%	-20.7%	-20.7%	-20.7%	-20.7%	-80.6%	-68.5%	-85.0%	-68.5%	-68.5%	-35.5%	-85.0%	-62.5%	-62.5%	-51.1%	51.1%	-85.0%
	> 3Y and <= 6Y	-58.8%	-59.8%	-59.8%	-59.8%	-59.8%	-59.8%	-74.7%	-50.8%	-50.8%	-49.9%	-50.8%	-22.2%	-51.1%	-64.6%	-74.7%	-13.4%	-20.7%	-16.6%	-20.7%	-20.7%	-20.7%	-20.7%	-80.6%	-68.5%	-85.0%	-68.5%	-68.5%	-44.7%	-85.0%	-62.5%	-62.5%	-51.1%	51.1%	-85.0%
	<= 3Y	-83.3%	-83.3%	-83.3%	-83.3%	-83.3%	-83.3%	-85.0%	-70.8%	-70.8%	-70.8%	-70.8%	-17.9%	-51.1%	-85.0%	-85.0%	-38.0%	-36.7%	-38.8%	-38.8%	-38.8%	-38.8%	-38.8%	-80.6%	-68.5%	-85.0%	-68.5%	-68.5%	-50.8%	-85.0%	-62.5%	-62.5%	-51.1%	51.1%	-85.0%
	Unspecified Vintage	-83.3%	-83.3%	-83.3%	-83.3%	-83.3%	-83.3%	-85.0%	-70.8%	-70.8%	-70.8%	-70.8%	-30.9%	-52.6%	-85.0%	-85.0%	-38.0%	-36.7%	-38.8%	-38.8%	-38.8%	-38.8%	-38.8%	-80.6%	-68.5%	-85.0%	-68.5%	-68.5%	-50.8%	-85.0%	-62.5%	-62.5%	-52.6%	52.6%	-85.0%
	NR Total
	> 9Y	-34.9%	-47.8%	-47.8%	-47.8%	-47.8%	-47.8%	-59.8%	-40.6%	-40.6%	-29.7%	-40.6%	-30.9%	-52.6%	-38.4%	-59.8%	-13.4%	-20.7%	-19.0%	-20.7%	-20.7%	-20.7%	-20.7%	-68.5%	-58.2%	-85.0%	-58.2%	-58.2%	-24.9%	-85.0%	-62.5%	-62.5%	-52.6%	52.6%	-85.0%
	> 6Y and <= 9Y	-34.9%	-59.8%	-59.8%	-59.8%	-59.8%	-59.8%	-74.7%	-50.8%	-50.8%	-29.7%	-50.8%	-25.5%	-51.1%	-38.4%	-74.7%	-13.4%	-20.7%	-17.0%	-20.7%	-20.7%	-20.7%	-20.7%	-80.6%	-68.5%	-85.0%	-68.5%	-68.5%	-35.5%	-85.0%	-62.5%	-62.5%	-51.1%	51.1%	-85.0%
	> 3Y and <= 6Y	-58.8%	-59.8%	-59.8%	-59.8%	-59.8%	-59.8%	-74.7%	-50.8%	-50.8%	-49.9%	-50.8%	-22.2%	-51.1%	-64.6%	-74.7%	-13.4%	-20.7%	-16.6%	-20.7%	-20.7%	-20.7%	-20.7%	-80.6%	-68.5%	-85.0%	-68.5%	-68.5%	-44.7%	-85.0%	-62.5%	-62.5%	-51.1%	51.1%	-85.0%
	<= 3Y	-83.3%	-83.3%	-83.3%	-83.3%	-83.3%	-83.3%	-85.0%	-70.8%	-70.8%	-70.8%	-70.8%	-17.9%	-51.1%	-85.0%	-85.0%	-38.0%	-36.7%	-38.8%	-38.8%	-38.8%	-38.8%	-38.8%	-80.6%	-68.5%	-85.0%	-68.5%	-68.5%	-50.8%	-85.0%	-62.5%	-62.5%	-51.1%	51.1%	-85.0%
	Unspecified Vintage	-83.3%	-83.3%	-83.3%	-83.3%	-83.3%	-83.3%	-85.0%	-70.8%	-70.8%	-70.8%	-70.8%	-30.9%	-52.6%	-85.0%	-85.0%	-38.0%	-36.7%	-38.8%	-38.8%	-38.8%	-38.8%	-38.8%	-80.6%	-68.5%	-85.0%	-68.5%	-68.5%	-50.8%	-85.0%	-62.5%	-62.5%	-52.6%	52.6%	-85.0%

---

Sheet 15: Agencies

2023 GMS Component: Severely Adverse Scenario
Agencies
			OAS Widening (bps)
	US Residential Agency Products
	IOs		387.0
	POs		73.0
	Other CMOs		91.0
	Pass-Throughs		91.0
	Agency Debt/Debentures		58.0
	IOS Index		387.0
	POS Index		73.0
	MBX Index		61.0
	Other Agency Derivatives		58.0
	TBA's		61.0
	Reverse Mortgages		91.0
	Residential Other / Unspecified		61.0
	US Commercial Agency Products
	Cash Agency CMBS		124.0
	Agency CMBS Derivatives		124.0
	Commercial Other / Unspecified		124.0
	Non-US Agency Products
	AAA		290.0
	AA		435.0
	A		442.0
	BBB		550.0
	BB		600.0
	B		1,831.0
	<B		3,062.0
	NR		3,062.0

---

Sheet 16: Munis

2023 GMS Component: Severely Adverse Scenario
Munis
			Relative MV Shock (%)		Spread Widening (bps)
	Bonds
	AAA				252.4
	AA				263.0
	A				276.4
	BBB				323.0
	BB				604.0
	B				805.6
	<B: Defaulted		-24.3%
	<B: Not Defaulted				1,167.7
	<B: Default Status Unknown				1,167.7
	NR				1,167.7
	Loans
	AAA				252.4
	AA				263.0
	A				276.4
	BBB				323.0
	BB				604.0
	B				805.6
	<B: Defaulted		-24.3%
	<B: Not Defaulted				1,167.7
	<B: Default Status Unknown				1,167.7
	NR				1,167.7
	CDS
	AAA				252.4
	AA				263.0
	A				276.4
	BBB				323.0
	BB				604.0
	B				805.6
	<B: Defaulted		-24.3%
	<B: Not Defaulted				1,167.7
	<B: Default Status Unknown				1,167.7
	NR				1,167.7
	Indices
	AAA				252.4
	AA				263.0
	A				276.4
	BBB				323.0
	BB				604.0
	B				805.6
	<B: Defaulted		-24.3%
	<B: Not Defaulted				1,167.7
	<B: Default Status Unknown				1,167.7
	NR				1,167.7
	Other / Unspecified Munis
	AAA				252.4
	AA				263.0
	A				276.4
	BBB				323.0
	BB				604.0
	B				805.6
	<B: Defaulted		-24.3%
	<B: Not Defaulted				1,167.7
	<B: Default Status Unknown				1,167.7
	NR				1,167.7

---

Sheet 17: ARS

2023 GMS Component: Severely Adverse Scenario
Auction Rate Securities (ARS)
		Relative MV Shock (%)
	Student Loan Auction Rate Securities (SLARS)
	AAA	-35.3%
	AA	-40.8%
	A	-46.3%
	BBB	-51.8%
	BB	-52.2%
	B	-62.9%
	<B	-73.7%
	NR	-73.7%
	Municipal Auction Rate Securities (MARS)
	AAA	-42.3%
	AA	-48.9%
	A	-55.5%
	BBB	-62.1%
	BB	-65.3%
	B	-78.6%
	<B	-92.1%
	NR	-92.1%
	Auction Rate Preferred Securities (ARPS)
	AAA	-28.2%
	AA	-32.6%
	A	-37.0%
	BBB	-41.4%
	BB	-52.2%
	B	-62.9%
	<B	-73.7%
	NR	-73.7%
	Credit Card Auction Rate Securities (CARS)
	AAA	-28.2%
	AA	-32.6%
	A	-37.0%
	BBB	-41.4%
	BB	-52.2%
	B	-62.9%
	<B	-73.7%
	NR	-73.7%
	Other / Unspecified Auction Rate Securities
	AAA	-42.3%
	AA	-48.9%
	A	-55.5%
	BBB	-62.1%
	BB	-65.3%
	B	-78.6%
	<B	-92.1%
	NR	-92.1%

---

Sheet 18: Corporate Credit-Advanced

2023 GMS Component: Severely Adverse Scenario
Corporate Credit-Advanced Economies
		Relative MV Shock (%)		Spread Widening (%)		Spread Widening (bps)
	Bonds
	AAA			307.6%		243.0
	AA			249.0%		271.4
	A			223.5%		341.9
	BBB			196.0%		443.0
	BB			232.1%		1,012.0
	B			211.6%		1,369.1
	<B: Defaulted	-53.6%
	<B: Not Defaulted			132.7%		1,900.4
	<B: Default Status Unknown	-53.6%		132.7%		1,900.4
	NR	-53.6%		132.7%		1,900.4
	Loans
	AAA	-6.8%
	AA	-7.6%
	A	-9.6%
	BBB	-12.4%
	BB	-28.3%
	B	-38.3%
	<B: Defaulted	-39.6%
	<B: Not Defaulted	-39.6%
	<B: Default Status Unknown	-39.6%
	NR	-39.6%
	Single Name CDS
	AAA			390.8%		89.3
	AA			253.6%		122.7
	A			220.5%		149.0
	BBB			188.7%		200.0
	BB			137.8%		400.0
	B			111.5%		579.6
	<B: Defaulted	-22.3%
	<B: Not Defaulted			83.4%		733.9
	<B: Default Status Unknown	-22.3%		83.4%		733.9
	NR	-22.3%		83.4%		733.9
	Loan CDS
	AAA	-2.8%
	AA	-3.2%
	A	-4.0%
	BBB	-5.2%
	BB	-11.8%
	B	-15.9%
	<B: Defaulted	-16.5%
	<B: Not Defaulted	-16.5%
	<B: Default Status Unknown	-16.5%
	NR	-16.5%
	Covered Bonds
	AAA			127.2%		101.4
	AA			103.0%		113.3
	A			92.4%		142.7
	BBB			81.1%		184.9
	BB			96.0%		422.5
	B			87.5%		571.6
	<B: Defaulted	-22.4%
	<B: Not Defaulted			54.9%		793.4
	<B: Default Status Unknown	-22.4%		54.9%		793.4
	NR	-22.4%		54.9%		793.4
	Indices
	CDX IG (Series 9)
	CDX IG (On the run)			177.4%		184.6
	CDX IG (Other Series)			177.4%		184.6
	CDX HY			80.0%		476.3
	CDX Other			94.5%		330.4
	iTraxx Main			114.3%		150.0
	iTraxx XO			68.2%		427.8
	iTraxx Other			76.2%		288.9
	Loan Indices
	Index Tranches
	CDX IG (Series 9)
	CDX IG (On the run)			177.4%		184.6
	CDX IG (Other Series)			177.4%		184.6
	CDX HY			80.0%		476.3
	CDX Other			94.5%		330.4
	iTraxx Main			114.3%		150.0
	iTraxx XO			68.2%		427.8
	iTraxx Other			76.2%		288.9
	Loan Indices
	Index Options
	CDX IG (Series 9)
	CDX IG (On the run)			177.4%		184.6
	CDX IG (Other Series)			177.4%		184.6
	CDX HY			80.0%		476.3
	CDX Other			94.5%		330.4
	iTraxx Main			114.3%		150.0
	iTraxx XO			68.2%		427.8
	iTraxx Other			76.2%		288.9
	Loan Indices
	Other / Unspecified
	AAA			153.8%		121.5
	AA			124.5%		135.7
	A			111.8%		171.0
	BBB			98.0%		221.5
	BB			116.1%		506.0
	B			105.8%		684.6
	<B: Defaulted	-26.8%
	<B: Not Defaulted			66.4%		950.2
	<B: Default Status Unknown	-26.8%		66.4%		950.2
	NR	-26.8%		66.4%		950.2

---

Sheet 19: Corporate Credit-EM

2023 GMS Component: Severely Adverse Scenario
Corporate Credit-Emerging Markets
		Relative MV Shock (%)		Spread Widening (%)		Spread Widening (bps)
	Bonds
	AAA			509.8%		330.2
	AA			265.1%		368.8
	A			275.6%		464.6
	BBB			201.6%		602.0
	BB			285.5%		1,375.3
	B			216.0%		1,860.6
	<B: Defaulted	-56.9%
	<B: Not Defaulted			137.6%		2,582.6
	<B: Default Status Unknown	-56.9%		137.6%		2,582.6
	NR	-56.9%		137.6%		2,582.6
	Loans
	AAA	-9.2%
	AA	-10.3%
	A	-13.0%
	BBB	-16.8%
	BB	-32.0%
	B	-41.4%
	<B: Defaulted	-42.9%
	<B: Not Defaulted	-42.9%
	<B: Default Status Unknown	-42.9%
	NR	-42.9%
	Single Name CDS
	AAA			733.3%		137.4
	AA			248.4%		153.4
	A			259.5%		193.3
	BBB			178.8%		250.4
	BB			178.4%		572.1
	B			111.9%		774.0
	<B: Defaulted	-23.7%
	<B: Not Defaulted			86.5%		997.4
	<B: Default Status Unknown	-23.7%		86.5%		997.4
	NR	-23.7%		86.5%		997.4
	Loan CDS
	AAA	-3.8%
	AA	-4.3%
	A	-5.4%
	BBB	-7.0%
	BB	-13.3%
	B	-17.2%
	<B: Defaulted	-17.8%
	<B: Not Defaulted	-17.8%
	<B: Default Status Unknown	-17.8%
	NR	-17.8%
	Covered Bonds
	AAA			211.0%		137.9
	AA			109.7%		154.0
	A			114.0%		194.0
	BBB			83.4%		251.3
	BB			118.1%		574.2
	B			89.3%		776.8
	<B: Defaulted	-23.7%
	<B: Not Defaulted			56.9%		1,078.2
	<B: Default Status Unknown	-23.7%		56.9%		1,078.2
	NR	-23.7%		56.9%		1,078.2
	Indices
	CDX EM			202.5%		678.8
	CDX Latam Corp			192.4%		446.6
	CDX Other			192.4%		446.6
	iTraxx Asia IG			115.6%		232.9
	iTraxx Asia HY
	iTraxx CEEMEA Corp			674.9%		446.6
	iTraxx Other			115.6%		232.9
	Loan Indices			99.1%		443.8
	Index Tranches
	CDX EM			202.5%		678.8
	CDX Latam Corp			192.4%		446.6
	CDX Other			192.4%		446.6
	iTraxx Asia IG			115.6%		232.9
	iTraxx Asia HY
	iTraxx CEEMEA Corp			674.9%		446.6
	iTraxx Other			115.6%		232.9
	Loan Indices			99.1%		443.8
	Index Options
	CDX EM			202.5%		678.8
	CDX Latam Corp			192.4%		446.6
	CDX Other			192.4%		446.6
	iTraxx Asia IG			115.6%		232.9
	iTraxx Asia HY
	iTraxx CEEMEA Corp			674.9%		446.6
	iTraxx Other			115.6%		232.9
	Loan Indices			99.1%		443.8
	Other / Unspecified
	AAA			254.9%		165.1
	AA			132.6%		184.4
	A			137.8%		232.3
	BBB			100.8%		301.0
	BB			142.8%		687.6
	B			108.0%		930.3
	<B: Defaulted	-28.4%
	<B: Not Defaulted			68.8%		1,291.3
	<B: Default Status Unknown	-28.4%		68.8%		1,291.3
	NR	-28.4%		68.8%		1,291.3

---

Sheet 20: Sovereign Credit

2023 GMS Component: Severely Adverse Scenario
Sovereign Credit
			Spread Widening (%)		Spread Widening (bps)
	Australia		405.3%		119.9
	Austria		671.7%		137.3
	Belgium		600.2%		173.4
	Canada		301.0%		81.5
	Cyprus		650.3%		433.2
	Denmark		445.0%		69.6
	Estonia		144.5%		184.0
	Finland		281.4%		81.1
	France		517.7%		175.6
	Germany		424.9%		120.0
	Greece		220.2%		433.2
	Ireland		938.6%		271.2
	Italy		316.5%		550.0
	Japan		267.7%		78.8
	Malta		295.9%		197.1
	Netherlands		572.1%		101.5
	New Zealand		405.3%		119.9
	Norway		220.6%		36.9
	Portugal		704.0%		469.2
	Slovakia		345.0%		203.1
	Slovenia		345.0%		203.1
	Spain		663.9%		442.3
	Sweden		385.8%		74.8
	Switzerland		1259.5%		120.0
	United Kingdom		399.7%		170.0
	United States		301.0%		81.5
	Other		283.0%		188.6
	Bulgaria		268.6%		257.2
	Croatia		271.4%		331.3
	Czech Republic		353.4%		184.0
	Hungary		141.2%		396.0
	Iceland		176.9%		110.0
	Latvia		156.4%		199.1
	Lithuania		131.6%		168.8
	Poland		125.5%		203.1
	Romania		88.6%		360.4
	Russia		18.7%		2,807.7
	Ukraine		1.4%		1,699.0
	Other		627.1%		600.6
	Argentina		14.7%		798.1
	Brazil		195.7%		600.0
	Chile		119.4%		211.9
	Colombia		145.2%		518.5
	Mexico		200.7%		401.5
	Panama		201.7%		383.2
	Peru		236.2%		410.0
	Venezuela		22.0%		3,061.6
	Other		399.0%		798.1
	China		226.5%		250.0
	Hong Kong		171.4%		70.2
	India		215.8%		347.2
	Indonesia		332.9%		542.0
	Kazakhstan		147.3%		388.2
	Malaysia		267.5%		326.2
	Philippines		313.3%		461.6
	Singapore		708.4%		290.1
	South Korea		400.2%		240.3
	Taiwan		262.9%		290.1
	Thailand		275.0%		256.4
	Vietnam		271.3%		498.3
	Other		125.2%		330.0
	Bahrain		84.5%		267.0
	Dubai		343.0%		435.4
	Egypt		32.9%		457.3
	Israel		293.3%		118.2
	Jordan		1.3%		589.6
	Kuwait		133.4%		169.3
	Lebanon		5.8%		2,583.0
	Qatar		253.1%		166.2
	Saudi Arabia		226.4%		169.3
	Turkey		103.5%		791.1
	United Arab Emirates		343.0%		435.4
	Other		442.8%		562.0
	Nigeria		36.0%		501.7
	South Africa		157.6%		546.0
	Other		37.6%		523.8
	Supranationals		344.9%		93.4

---

Sheet 21: Credit Correlation

2023 GMS Component: Severely Adverse Scenario
Credit Correlation
	Absolute Change in Correlations (Pts) (e.g. 1.00 = from 75% to 76%)
	CDX IG	3Y	5Y	7Y	10Y	Other
	3%	13.0	13.0	13.0	13.0	13.0
	7%	15.0	15.0	15.0	15.0	15.0
	10%	17.0	17.0	17.0	17.0	17.0
	15%	19.0	19.0	19.0	19.0	19.0
	30%	21.0	21.0	21.0	21.0	21.0
	CDX HY	3Y	5Y	7Y	10Y	Other
	10%	13.0	13.0	13.0	13.0	13.0
	15%	15.0	15.0	15.0	15.0	15.0
	25%	17.0	17.0	17.0	17.0	17.0
	35%	19.0	19.0	19.0	19.0	19.0
	CDX Other	3Y	5Y	7Y	10Y	Other
	Equity	17.0	17.0	17.0	17.0	17.0
	Mezzanine	17.0	17.0	17.0	17.0	17.0
	iTraxx Main	3Y	5Y	7Y	10Y	Other
	3%	15.0	15.0	15.0	15.0	15.0
	6%	17.0	17.0	17.0	17.0	17.0
	9%	19.0	19.0	19.0	19.0	19.0
	12%	21.0	21.0	21.0	21.0	21.0
	22%	23.0	23.0	23.0	23.0	23.0
	iTraxx XO	3Y	5Y	7Y	10Y	Other
	10%	15.0	15.0	15.0	15.0	15.0
	15%	17.0	17.0	17.0	17.0	17.0
	25%	19.0	19.0	19.0	19.0	19.0
	35%	21.0	21.0	21.0	21.0	21.0
	iTraxx Other	3Y	5Y	7Y	10Y	Other
	Equity	19.0	19.0	19.0	19.0	19.0
	Mezzanine	19.0	19.0	19.0	19.0	19.0
	Loan Indices	3Y	5Y	7Y	10Y	Other
	8%	19.0	19.0	19.0	19.0	19.0
	15%	19.0	19.0	19.0	19.0	19.0
	30%	19.0	19.0	19.0	19.0	19.0

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Sheet 22: Private Equity

2023 GMS Component: Severely Adverse Scenario
Private Equity (GICS-Based Data Input)
				Relative Carry FAIR Value Shock (%)						Relative Carry NON-FAIR Value Shock (%)
	Sector	GICS Code	Industry Group	United States	Western Europe	Other Developed Markets	Emerging Markets	Unspecified Geography		United States	Western Europe	Other Developed Markets	Emerging Markets	Unspecified Geography
	Energy	1010	Energy	-61.0%	-57.3%	-57.2%	-78.0%	-57.2%		-61.0%	-57.3%	-57.2%	-78.0%	-57.2%
	Materials	1510	Materials	-73.1%	-67.3%	-68.1%	-77.8%	-68.1%		-73.1%	-67.3%	-68.1%	-77.8%	-68.1%
	Industrials	2010	Capital Goods	-65.3%	-70.4%	-65.3%	-73.8%	-65.3%		-65.3%	-70.4%	-65.3%	-73.8%	-65.3%
	Industrials	2020	Commercial & Professional Services	-56.7%	-60.5%	-56.7%	-63.0%	-56.7%		-56.7%	-60.5%	-56.7%	-63.0%	-56.7%
	Industrials	2030	Transportation	-57.4%	-62.9%	-55.0%	-70.0%	-55.0%		-57.4%	-62.9%	-55.0%	-70.0%	-55.0%
	Industrials	20	Unspecified	-65.3%	-70.4%	-65.3%	-73.8%	-65.3%		-65.3%	-70.4%	-65.3%	-73.8%	-65.3%
	Consumer Discretionary	2510	Automobiles & Components	-69.5%	-75.3%	-69.5%	-79.1%	-69.5%		-69.5%	-75.3%	-69.5%	-79.1%	-69.5%
	Consumer Discretionary	2520	Consumer Durables & Apparel	-55.4%	-62.4%	-59.2%	-73.1%	-59.2%		-55.4%	-62.4%	-59.2%	-73.1%	-59.2%
	Consumer Discretionary	2530	Consumer Services	-52.7%	-63.4%	-54.6%	-68.4%	-54.6%		-52.7%	-63.4%	-54.6%	-68.4%	-54.6%
	Consumer Discretionary	2550	Retailing	-48.5%	-63.3%	-52.9%	-80.2%	-52.9%		-48.5%	-63.3%	-52.9%	-80.2%	-52.9%
	Consumer Discretionary	25	Unspecified	-50.7%	-69.3%	-61.6%	-81.7%	-61.6%		-50.7%	-69.3%	-61.6%	-81.7%	-61.6%
	Consumer Staples	3010	Food & Staples Retailing	-42.6%	-49.9%	-44.6%	-59.5%	-44.6%		-42.6%	-49.9%	-44.6%	-59.5%	-44.6%
	Consumer Staples	3020	Food, Beverage & Tobacco	-42.6%	-49.9%	-44.6%	-59.5%	-44.6%		-42.6%	-49.9%	-44.6%	-59.5%	-44.6%
	Consumer Staples	3030	Household & Personal Products	-42.4%	-50.5%	-43.0%	-56.7%	-43.0%		-42.4%	-50.5%	-43.0%	-56.7%	-43.0%
	Consumer Staples	30	Unspecified	-42.6%	-49.9%	-44.6%	-59.5%	-44.6%		-42.6%	-49.9%	-44.6%	-59.5%	-44.6%
	Health Care	3510	Health Care Equipment & Svcs	-45.2%	-51.1%	-44.5%	-64.1%	-44.8%		-45.2%	-51.1%	-44.5%	-64.1%	-44.8%
	Health Care	3520	Pharma., Bio. & Life Sciences	-45.2%	-47.7%	-44.5%	-59.4%	-44.5%		-45.2%	-47.7%	-44.5%	-59.4%	-44.5%
	Health Care	35	Unspecified	-45.4%	-47.7%	-44.8%	-59.4%	-44.5%		-45.4%	-47.7%	-44.8%	-59.4%	-44.5%
	Financials (excl Real Estate)	4010	Banks	-68.0%	-73.6%	-68.0%	-77.2%	-68.0%		-68.0%	-73.6%	-68.0%	-77.2%	-68.0%
	Financials (excl Real Estate)	4020	Diversified Financials	-68.0%	-73.6%	-68.0%	-77.2%	-68.0%		-68.0%	-73.6%	-68.0%	-77.2%	-68.0%
	Financials (excl Real Estate)	4030	Insurance	-65.4%	-70.5%	-65.4%	-73.9%	-65.4%		-65.4%	-70.5%	-65.4%	-73.9%	-65.4%
	Financials (excl Real Estate)		Unspecified	-68.0%	-73.6%	-68.0%	-77.2%	-68.0%		-68.0%	-73.6%	-68.0%	-77.2%	-68.0%
	Information Technology	4510	Software & Services	-49.1%	-55.6%	-50.4%	-61.3%	-50.4%		-49.1%	-55.6%	-50.4%	-61.3%	-50.4%
	Information Technology	4520	Technology Hardware & Equipment	-48.4%	-62.2%	-53.8%	-66.6%	-53.8%		-48.4%	-62.2%	-53.8%	-66.6%	-53.8%
	Information Technology	4530	Semicondt. & Semicondt. Equip.	-48.4%	-62.2%	-53.8%	-66.6%	-53.8%		-48.4%	-62.2%	-53.8%	-66.6%	-53.8%
	Information Technology	45	Unspecified	-49.8%	-60.7%	-53.8%	-67.6%	-53.8%		-49.8%	-60.7%	-53.8%	-67.6%	-53.8%
	Communication Services	5010	Telecommunication Services	-49.1%	-55.6%	-50.4%	-61.3%	-50.4%		-49.1%	-55.6%	-50.4%	-61.3%	-50.4%
	Communication Services	5020	Media & Entertainment	-52.7%	-63.4%	-54.6%	-68.4%	-54.6%		-52.7%	-63.4%	-54.6%	-68.4%	-54.6%
	Communication Services	50	Unspecified	-49.1%	-55.6%	-50.4%	-61.3%	-50.4%		-49.1%	-55.6%	-50.4%	-61.3%	-50.4%
	Utilities	5510	Utilities	-44.7%	-54.7%	-46.5%	-61.6%	-46.5%		-44.7%	-54.7%	-46.5%	-61.6%	-46.5%
	Real Estate	6010	Real Estate (Exclude Affordable Housing PWI)	-69.9%	-75.8%	-69.9%	-79.6%	-69.9%		-69.9%	-75.8%	-69.9%	-79.6%	-69.9%
	Real Estate		Affordable Housing PWI	-4.9%						-4.9%
	Unspecified Sector/Industry	N/A	Minority Interest in Hedge Funds	-57.3%	-64.0%	-57.6%	-70.1%	-57.6%		-57.3%	-64.0%	-57.6%	-70.1%	-57.6%
	Unspecified Sector/Industry	N/A	Fund Seed Capital	-57.3%	-64.0%	-57.6%	-70.1%	-57.6%		-57.3%	-64.0%	-57.6%	-70.1%	-57.6%
	Unspecified Sector/Industry	N/A	Infrastructure Funds	-57.3%	-64.0%	-57.6%	-70.1%	-57.6%		-57.3%	-64.0%	-57.6%	-70.1%	-57.6%
	Unspecified Sector/Industry	Unsp	Other Unspecified Sector/Industry	-57.3%	-64.0%	-57.6%	-70.1%	-57.6%		-57.3%	-64.0%	-57.6%	-70.1%	-57.6%
	Unfunded Commitments	N/A	All (Exclude Affordable Housing PWI)	-19.1%	-21.3%	-19.2%	-23.4%	-19.2%		-19.1%	-21.3%	-19.2%	-23.4%	-19.2%
	Unfunded Commitments	N/A	Affordable Housing PWI	-1.6%						-1.6%

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Sheet 23: Other Fair Value Assets

2023 GMS Component: Severely Adverse Scenario
Other Fair Value Assets (GICS-Based Data Input)
				Relative Fair Value Shock (%)
	Sector	GICS Code	Industry Group	United States		Non-US
				Equity	Debt	Equity	Debt
	Energy	1010	Energy	-61.0%	-24.4%	-57.2%	-22.9%
	Materials	1510	Materials	-73.1%	-29.2%	-68.1%	-27.2%
	Industrials	2010	Capital Goods	-65.3%	-26.1%	-65.3%	-26.1%
	Industrials	2020	Commercial & Professional Services	-56.7%	-22.7%	-56.7%	-22.7%
	Industrials	2030	Transportation	-57.4%	-22.9%	-55.0%	-22.0%
	Industrials	20	Unspecified	-65.3%	-26.1%	-65.3%	-26.1%
	Consumer Discretionary	2510	Automobiles & Components	-69.5%	-34.7%	-69.5%	-27.8%
	Consumer Discretionary	2520	Consumer Durables & Apparel	-55.4%	-27.7%	-59.2%	-23.7%
	Consumer Discretionary	2530	Consumer Services	-52.7%	-26.3%	-54.6%	-21.9%
	Consumer Discretionary	2550	Retailing	-48.5%	-24.3%	-52.9%	-21.2%
	Consumer Discretionary	25	Unspecified	-50.7%	-25.4%	-61.6%	-24.6%
	Consumer Staples	3010	Food & Staples Retailing	-42.6%	-10.7%	-44.6%	-17.8%
	Consumer Staples	3020	Food, Beverage & Tobacco	-42.6%	-10.7%	-44.6%	-17.8%
	Consumer Staples	3030	Household & Personal Products	-42.4%	-10.6%	-43.0%	-17.2%
	Consumer Staples	30	Unspecified	-42.6%	-10.7%	-44.6%	-17.8%
	Health Care	3510	Health Care Equipment & Svcs	-45.2%	-8.2%	-44.5%	-17.8%
	Health Care	3520	Pharma., Bio. & Life Sciences	-45.2%	-8.2%	-44.5%	-17.8%
	Health Care	35	Unspecified	-45.4%	-8.3%	-44.8%	-17.9%
	Financials (excl Real Estate)	4010	Banks	-68.0%	-27.2%	-68.0%	-27.2%
	Financials (excl Real Estate)	4020	Diversified Financials	-68.0%	-27.2%	-68.0%	-27.2%
	Financials (excl Real Estate)	4030	Insurance	-65.4%	-26.2%	-65.4%	-26.2%
	Financials (excl Real Estate)		Unspecified	-68.0%	-27.2%	-68.0%	-27.2%
	Information Technology	4510	Software & Services	-49.1%	-22.1%	-50.4%	-25.2%
	Information Technology	4520	Technology Hardware & Equipment	-48.4%	-21.8%	-53.8%	-26.9%
	Information Technology	4530	Semicondt. & Semicondt. Equip.	-48.4%	-21.8%	-53.8%	-26.9%
	Information Technology	45	Unspecified	-49.8%	-22.5%	-53.8%	-26.9%
	Communication Services	5010	Telecommunication Services	-49.1%	-22.1%	-50.4%	-25.2%
	Communication Services	5020	Media & Entertainment	-52.7%	-26.3%	-54.6%	-21.9%
	Communication Services	50	Unspecified	-49.1%	-22.1%	-50.4%	-25.2%
	Utilities	5510	Utilities	-44.7%	-5.8%	-46.5%	-7.4%
	Real Estate	6010	Real Estate	-69.9%	-28.0%	-69.9%	-28.0%
	Tax Credits	N/A	Section 42 Housing Credits	-4.9%
	Tax Credits	N/A	Section 45 Alternative Energy Investments	-13.9%
	Tax Credits	N/A	Other Tax Credits	-4.9%	-4.9%	-3.5%	-3.5%
	Unspecified Sector/Industry	Unsp	Other Unspecified Sector/Industry	-57.3%	-13.7%	-57.6%	-6.7%