2.07.1B

Past version: Effective from 31 Dec 2013 to 21 Apr 2019

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;
2.07.1B.3 Paid-Up Ordinary Share Capital and Unappropriated Profit or Loss
in the case of a Bank Clearing Member who clears only OTCF Contracts, maintain paid-up ordinary share capital and unappropriated profit or loss of not less than S$50,000,000 or such other amount as may be prescribed by the Clearing House from time to time; and
2.07.1B.4 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 and 31 December 201331 December 2013.