(1) A ring-fenced body may incur a financial institution exposure provided that both the following conditions are satisfied -
(a) the purpose of the transaction giving rise to the exposure is -
(i) to provide finance or make a payment in connection with the supply of goods or services by or to a person or an undertaking which is not a relevant financial institution; or
(ii) to guarantee or otherwise provide an indemnity or security for the obligations of a customer of the ring-fenced body or a third party in connection with the supply of goods or services by or to a person or an undertaking which is not a relevant financial institution;
(b) the ring-fenced body enters into an agreement to give effect to the transaction which specifies -
(i) the supplies of goods or services to which the transaction relates, and
(ii) the maximum payments which the ring-fenced body may be required to make under the agreement.
(2) For the purpose of paragraph (1)(b)(ii), the maximum payments payable under
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