7A.06.4 Aggregate Clearing House Contributions

Past version: Effective from 29 Jul 2013 to 29 Jun 2014

7A.06.4.1 Subject to Rule 7A.06.4.2, the total contribution by the Clearing House to the Clearing Fund (“Aggregate Clearing House Contribution”) shall be the higher of:
a. S$136,000,000, which shall be applied to the Clearing House Contribution as referred to in Rule 7A.01A.2.a; or
b. the Minimum Aggregate Clearing House Contribution
7A.06.4.2 In the event that any part of the Aggregate Clearing House Contribution is applied in accordance with Rule 7A.01A, such that it falls below the Minimum Aggregate Clearing House Contribution, the Clearing House shall restore the Aggregate Clearing House Contribution up to the Minimum Aggregate Clearing House Contribution. The Clearing House shall thereafter maintain Aggregate Clearing House Contribution equivalent to the Minimum Aggregate Clearing House Contribution.
7A.06.4.3 Aggregate Clearing House Contribution shall comprise the following, where such funds are available:
a. the capital of the Clearing House;
b. the net proceeds of such financial guarantee and/or default insurance; and
c. any other financial instrument.

Added on 7 August 20127 August 2012 and amended on 29 July 201329 July 2013.