Rulebooks: Contents

Rulebooks
Mainboard Rules
Catalist Rules
SGX-ST Rules
CDP Clearing Rules
CDP Settlement Rules
DVP Rules [Entire Rulebook has been deleted]
CDP Depository Rules
Futures Trading Rules
SGX-DC Clearing Rules
Chapter 1 Application of Rules
Chapter 2 Clearing Membership
Chapter 3 Committees
Chapter 4 Enforcement of Rules
Chapter 5 Arbitration
Chapter 6 Delivery and Related Matters
Chapter 7 Clearing and Margins
Chapter 7A Suspension and Default
Chapter 7B Payments
Chapter 8 Mutual Offset System
Chapter 9 Definitions and Interpretation
Chapter 10 Transitional Provisions
Directives
Practice Notes
Appendices
Schedules
SIAC DT Arbitration Rules
SIAC DC Arbitration Rules
Archive
Rule Amendments

  Versions
(3 versions)
 
Up to Dec 28 2014Dec 29 2014 - Apr 21 2019Apr 22 2019 onwards

2.11.3 Qualifying Subordinated Loans

Past version: effective from Dec 29 2014 - Apr 21 2019.
To view other versions open the versions tab on the right.

2.11.3.1 Each Clearing Member incorporated in Singapore, shall immediately notify the Clearing House when it draws down a qualifying subordinated loan no later than the date of draw down.
2.11.3.2 A 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 the Clearing House;
b. shall not repay, whether in part or in full, any subordinated loan principal that has matured:—
i. unless the Clearing Member notifies the Clearing House at least one (1) Business 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 or Direct Clearing Member, if the aggregate indebtedness of the General Clearing Member or Direct Clearing Member exceeds 600% of its aggregate resources;
iv. if such a repayment will cause an event in Rules 2.11.3.2.b.ii or iii to occur; or
v. if the Clearing House has prohibited in writing such a repayment.

Amended on 27 March 2006, 10 August 2007 and 29 December 2014.