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

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  • 2.11.3 Qualifying Subordinated Loans

    2.11.3.1 Each General Clearing Member or Direct 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 General Clearing Member or Direct 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 ofthe 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, 29 December 2014 and 22 April 2019.