Guarantee funds

The Guarantee Funds consist of clearing members' (CM's) contributions and is used to cover excess losses arising from participants' failure to fulfill their obligations.

Market Assets eligible
for the Guarantee Fund
Subcategory
of CM
Clearing member's contribution
to Guarantee fund
(millions of rubles)
FX and precious metals RUB, USD, EUR, OFZ, Russian sovereign eurobonds* Сlearing members
of "B" category
10
Securities and Money Market 10
Money Market 1
Commodities 1
Derivatives All clearing
members
10
Standardised OTC Derivatives 10

* for USD, EUR, OFZ and Russian sovereign eurobonds haircuts are applied.

The haircuts are disclosed at  http://nkcbank.com/fondMarketRates.do and  http://nkcbank.com/currMarketRates.do.