Article 307 Own Funds Requirements for Contributions to the Default Fund of a CCP
An institution that acts as a clearing member shall apply the following treatment to its exposures arising from its contributions to the default fund of a CCP:
- (a) it shall calculate the own funds requirement for its pre-funded contributions to the default fund of a QCCP in accordance with the approach set out in Article 308;
- (b) it shall calculate the own funds requirement for its pre-funded and unfunded contributions to the default fund of a non-qualifying CCP in accordance with the approach set out in Article 309;
- (c) it shall calculate the own funds requirement for its unfunded contributions to the default fund of a QCCP in accordance with the treatment set out in Article 310.
[Note: This rule corresponds to Article 307 of the CRR as it applied immediately before revocation by the Treasury.]
- 01/01/2022