What this is
E_TPC = 4,693 − K_FA − K_oth + s·N_FA. If K_FA = 0.10·N_FA, s = 0.22, thresholds 11,397–29,125.
The values
- Slope if K FA eq 0.10N: 0.22
- Threshold N FA ¥ m slope 0.22: 11,397 to 29,125
- Slope if K FA historic 1.5 2.0bn: 0.32
- Threshold N FA ¥ m slope 0.32: 12,522 to 26,272
- Threshold $ m slope 0.32: 84 to 176
- Base excess Mar 2026: 4,693
Where it comes from
Our calculation from other figures in the trainer’s notes:
- EstimateCarrying c minus d test as function of first avenue net assets, 31 Mar 2017 and 31 Mar 2026
- EstimateDecisive test thresholds TPC carrying 31 mar 2017, 31 Mar 2017
Show the working
- E_TPC = 4,693 − K_FA − K_oth + s·N_FA
- If K_FA = 0.10·N_FA, s = 0.22, thresholds 11,397–29,125
- If K_FA is the historic ≈¥1.5–2.0bn, s = 0.32: (6,900 − 4,693 + 1,500 + 300)/0.32 = 12,522
- …
Where it’s used
Related figures
Built from this one