Recital 4

(4)Similarly, a high volume of daily average turnover of net OTC foreign exchange derivatives represents a good indicator of the liquid nature of their respective underlying currency pairs. It is therefore appropriate to consider that indicator for specifying which currency pairs should constitute the most liquid currency pairs sub-category of the broad category of foreign exchange risk factor of Table 2 of Article 325bd of Regulation (EU) No 575/2013. The BIS Triennial Central Bank Survey of OTC foreign-exchange derivatives turnover ³ constitutes a reliable source of statistics to evaluate the OTC foreign exchange derivatives turnover by instrument and by currency. For that reason, and in order to ensure consistency with international practices, it is appropriate to consider the results of that survey for the purpose of specifying the currency pairs constituting the most liquid currency pairs sub-category.