PRU 4.14.12

(1) An Authorised Person may deduct SE Exposures which it has chosen not to treat in accordance with Rules 4.14.8 to 4.14.11 from Capital Resources -100% from CET1.
(2) Credit-Enhancing Interest-Only Strips (net of the deductions from CET1 Capital required at Rule 4.14.13) are deducted 100% from CET1 Capital.
(3) Deductions from capital may be calculated net of specific provisions taken against relevant securitisation Exposures.