The payment institution’s own funds shall amount to at least the sum of the following elements multiplied by the scaling factor k defined in paragraph 2, where payment volume (PV) represents one twelfth of the total amount of payment transactions executed by the payment institution in the preceding year:
(a) 4,0 % of the slice of PV up to EUR 5 million;
(b) 2,5 % of the slice of PV above EUR 5 million up to EUR 10 million;
(c) 1 % of the slice of PV above EUR 10 million up to EUR 100 million;
(d) 0,5 % of the slice of PV above EUR 100 million up to EUR 250 million;
(e) 0,25 % of the slice of PV above EUR 250 million.