Rulebooks: Contents

Rulebooks
Mainboard Rules
Catalist Rules
SGX-ST Rules
CDP Clearing Rules
Rule 1 — Application and Definitions
Rule 2 — Administration
Rule 3 — Membership
Rule 4 — Appointment of Chief Executive Officers and Directors
Rule 5 — Financial/Capital Requirements
Rule 5A — Position Accounts
Rule 6 — Clearing and Settlement between Clearing Members and CDP
Rule 6A — Margin Requirements
Rule 6B — Collateral
Rule 6C — Payments
Rule 7 — Clearing Fund
Rule 8 — Default Rules
Rule 9 — Suspension or Restriction of Clearing
Rule 10 — Liabilities
Rule 11 — Supervisory Rules
Rule 12 — Foreign Market Links
Rule 13 — General
Rule 14 — Transitional Provisions
Appendices
Regulatory Notices to CDP Clearing Rules
Practice Notes
Schedules
CDP Settlement Rules
DVP Rules [Entire Rulebook has been deleted]
CDP Depository Rules
Futures Trading Rules
SGX-DC Clearing Rules
SIAC DT Arbitration Rules
SIAC DC Arbitration Rules
Archive
Rule Amendments

  Versions
(3 versions)
 

5.11.3 Qualifying Subordinated Loan

(1) A General Clearing Member shall obtain the prior approval of CDP if it enters a subordinated loan agreement in a format other than the format prescribed by CDP from time to time.
(2) Each General Clearing Member incorporated in Singapore, shall immediately notify CDP when it draws down a qualifying subordinated loan, no later than the date of draw down.
(3) A General Clearing Member incorporated in Singapore:—
(a) shall not repay, whether in part or in full, any subordinated loan principal before the maturity date without the prior approval of CDP;
(b) shall not repay, whether in part or in full, any subordinated loan principal that has matured:—
(i) unless the Clearing Member notifies CDP at least one (1) Market Day before the date of repayment;
(ii) if the financial resources of the Clearing Member, are less than 150% of its total risk requirement;
(iii) in the case of a General Clearing Member, if its aggregate indebtedness exceeds 600% of its aggregate resources;
(iv) if such a repayment will cause an event in Rules 5.11.3 (2)(b)(ii) or (iii) to occur; or
(v) if CDP has prohibited in writing such a repayment.

Amended on 1 July 2008, 29 December 2014 and 22 April 2019.