2.07.1B

Past version: Effective up to 30 Dec 2013

Unless otherwise exempted under Rule 2.07.8, each Bank Clearing Member incorporated in Singapore shall at all times:—

2.07.1B.1 Base Capital Requirement
a. maintain a base capital of not less than S$5,000,000; or
b. in the case of a Bank Clearing Member who is also a clearing member of CDP, maintain a base capital of not less than S$8,000,000;
2.07.1B.2 Financial Resources Requirement
not cause or permit its financial resources to fall below its total risk requirement; and
2.07.1B.3 Other Requirements
comply with the accounting, reporting, book-keeping and any other financial and operational requirements prescribed by the Clearing House in relation to the Bank Clearing Member's business governed by this Rules.

Added on 10 August 200710 August 2007 and amended on 3 November 20103 November 2010.