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CSD-3.1.17

A licensed clearing house or licensed central depository shall seek the approval of the CBB prior to making any change to the financial resources that are available to the licensed clearing house or licensed central depository to support a default of its member; and

(a) The CBB may grant its approval referred to above, subject to such conditions or restrictions as the CBB may deem fit.
(b) For the purposes of this Paragraph, ''financial resources that are available to the licensed clearing house to support a default of its member'' shall not include margin trading facilities held with the licensed clearing house.
Amended: April 2016