Authorized Capital On 01 November 2015, the amendments to the regulations of the Bank of Russia governing central counterparty activity became effective, whereunder the central counterparty must segregate a part of equity (capital) to cover possible losses, whether or not caused by non-performance by clearing participants of their obligations. In accordance with these amendments, the Bank recorded in separate individual retained earnings accounts the resources intended for the following: coverage of possible losses arising from non-performance by clearing participants of their obligations (funds used by the central counterparty prior to the use of the funds posted by clearing participants to the collective clearing collateral) dedicated capital of the – central counterparty in the amount of 6,500,000 thousand roubles; ensuring termination or restructuring of the central counterparty, in the amount of 510,999 thousand roubles; coverage of possible losses resulting from deterioration of the central financial counterparty’s condition due to decrease of its revenue or increase of expenditures not related to of obligations by clearing participants, in the amount of 255,499 thousand roubles. The resources of the central counterparty formed in accordance with requirements of the effective legislation, regulations of the Bank of Russia, intended for coverage of abovementioned losses, decrease the equity (capital). Bank’s Sources decreasing equity (capital)
Authorized Capital On 01 November 2015, the amendments to the regulations of the Bank of Russia governing central counterparty activity became effective, whereunder the central counterparty must segregate a part of equity (capital) to cover possible losses, whether or not caused by non-performance by clearing participants of their obligations. In accordance with these amendments, the Bank recorded in separate individual retained earnings accounts the resources intended for the following: coverage of possible losses arising from non-performance by clearing participants of their obligations (funds used by the central counterparty prior to the use of the funds posted by clearing participants to the collective clearing collateral) – dedicated capital of the central counterparty in the amount of 6,500,000 thousand roubles; ensuring termination or restructuring of the central counterparty, in the amount of 510,999 thousand roubles; coverage of possible losses resulting from deterioration of the central counterparty’s financial condition due to decrease of its revenue or increase of expenditures not related to of obligations by clearing participants, in the amount of 255,499 thousand roubles. The resources of the central counterparty formed in accordance with requirements of the effective legislation, regulations of the Bank of Russia, intended for coverage of abovementioned losses, decrease the Bank’s equity (capital). Sources decreasing equity (capital)
Primary%20results%20of%20the%20bank%20National%20Clearing%20Centre%20operations%20in%202015.docx