Roy's Safety First ratio

B6, I, AM, #1.C Why, in the calculations for RSF ratio, is the MAR -2% (negative 2%)? I kind of understand why the RF rate is used, but the negative sign? Thanks in advance.

because he doesn’t want to lose more than 2% of portfolio annually, as specified in the initial text.

That’s it! I kept thinking the 2% is the RF rate…Thanks olfy!