238. Competent authorities should assess the market risk concerning those on- and off-balance-sheet positions which are subject to losses arising from movements in market prices. When assessing market risk for institutions which do not meet the conditions of the small trading book as set out in Article 94 of Regulation (EU) 575/2013 competent authorities should consider the relevance and materiality of at least the following subcategories carrying out a more detailed assessment of those subcategories which are considered the most relevant for the institution :
a. interest rate risk in the trading book;
b. credit spread and default risk in the trading book;
c. equity risk in the trading book;
d. foreign-exchange risk;
e. commodities risk;
f. credit valuation adjustment risk;
g. non-delta risk;
h. basis risk;
i. market liquidity risk;
j. model risk for regulatory approved models.