Related provisions for BIPRU 7.2.42D
Table: Net underwriting position reduction factors
This table belongs to BIPRU 7.8.27R
Underwriting timeline 
Debt 
Equity 

Time of initial commitment until working day 0 
0% 
100% 
90% 
0% 
90% 
90% 

0% 
75% 
75% 

0% 
75% 
75% 

0% 
50% 
50% 

0% 
25% 
25% 

Working day 6 and onwards 
0% 
0% 
0% 
Table: Example of the reduced net underwriting position calculation
This table belongs to BIPRU 7.8.29G
Time 
Percentage reduction (see BIPRU 7.8.28R) 

At initial commitment 9.00am Monday 
£100m gross amount is reduced by £20m due to sales/subunderwriting commitments confirmed in writing at the time of initial commitment (see BIPRU 7.8.17R (1)) and (4)). 
= 
£80m 
90% 
£8m 
Post initial commitment 9.02am Monday 
Remaining £80m is reduced by £40m due to further sales, subunderwriting commitments obtained and allocations granted (see BIPRU 7.8.17R (2)  (5)). 
= 
£40m 
90% 
£4m 
At the end of working day 1 
Remaining £40m is reduced to £20m due to further sales. 
= 
£20m 
90% 
£2m 
End of working day 3 
Remaining £20m is reduced to £5m due to further sales. 
= 
£5m 
75% 
£1.25 m 
End of working day 4 
Remaining £5m is reduced to £2m due to further sales. 
= 
£2m 
50% 
£1m 
End of working day 5 
Remaining £2m is reduced to £1m due to further sales. 
= 
£1m 
25% 
£0.75 m 
Start of working day 6 
£1m remaining 
= 
£1m 
0% 
£1m 
Table: Calculation of net underwriting exposure
This table belongs to BIPRU 7.8.34R
Time 
Reduction factor to be applied to net underwriting position 
100% 

100% 

90% 

75% 

75% 

50% 

25% 

Working day 6 onwards 
0% 