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  "notes": "This slide outlines the operational and financial framework for a resolution scenario, specifically focusing on derivative portfolio management.",
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      "text": "Portfolio Segmentation and Forecasting: We have the capability to produce a spectrum of derivatives portfolio analyses across a wide range of dimensions...",
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      "text": "Application of Exit Cost Methodology: Our exit cost methodology, which is applied primarily at a portfolio level, forecasts the range of costs and liquidity required to exit our derivative positions. The main drivers of these costs are:",
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      "text": "Risk management costs: We enter into hedges to replace derivatives that terminate or contractually mature.\nPortfolio exit costs: We use a methodology based on the return on equity capital to estimate portfolio exit costs.\nBasis risk: Basis risk arises because material entities would not be able to access the bilateral OTC market after Group Inc. has entered bankruptcy proceedings, and would therefore only be able to hedge using listed or cleared instruments. We assess and quantify this risk.\nOperating expenses: We have calculated the operating expenses required to support our preferred wind-down strategy.",
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      "text": "Ease of Exit Position Analysis: We describe the categorization of our derivative positions within each business area and at an overall firm level...",
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      "text": "In the event that our derivative inventory needs to be wound down in practice, we believe that we have the resources and the technical know-how to do so. We used business-as-usual systems to perform our analyses...",
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      "text": "2023 Resolution Plan",
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