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It is registered

Ministry of Justice

Russian Federation

On April 30, 2015 No. 37079

PROVISION OF CENTRAL BANK OF THE RUSSIAN FEDERATION

of March 12, 2015 No. 463-P

About the requirements directed to decrease in risks of implementation of clearing activities and requirements to the document (documents) determining (determining) the measure directed to decrease in credit, operational and other risks, including the risks connected with combination of clearing activities with other types of activity

(as amended on 15-06-2021)

Based on the Federal Law of February 7, 2011 No. 7-FZ "About clearing and clearing activities" (The Russian Federation Code, 2011, No. 7, Art. 904; No. 48, Art. 6728; No. 49, Art. 7040, Art. 7061; 2012, No. 53, Art. 7607; 2013, No. 30, Art. 4084; 2014, No. 11, the Art. 1098) (further - the Federal Law "About Clearing and Clearing Activities"), the Federal Law of July 10, 2002 No. 86-FZ "About the Central bank the Russian Federation (Bank of Russia)" (The Russian Federation Code, 2002, No. 28, Art. 2790; 2003, No. 2, Art. 157; No. 52, Art. 5032; 2004, No. 27, Art. 2711; No. 31, Art. 3233; 2005, No. 25, Art. 2426; No. 30, Art. 3101; 2006, No. 19, Art. 2061; No. 25, Art. 2648; 2007, No. 1, Art. 9, Art. 10; No. 10, Art. 1151; No. 18, Art. 2117; 2008, No. 42, Art. 4696, Art. 4699; No. 44, Art. 4982; No. 52, Art. 6229, Art. 6231; 2009, No. 1, Art. 25; No. 29, Art. 3629; No. 48, Art. 5731; 2010, No. 45, Art. 5756; 2011, No. 7, Art. 907; No. 27, Art. 3873; No. 43, Art. 5973; No. 48, Art. 6728; 2012, No. 50, Art. 6954; No. 53, Art. 7591, Art. 7607; 2013, No. 11, Art. 1076; No. 14, Art. 1649; No. 19, Art. 2329; No. 27, Art. 3438, Art. 3476, Art. 3477; No. 30, Art. 4084; No. 49, Art. 6336; No. 51, Art. 6695, Art. 6699; No. 52, Art. 6975; 2014, No. 19, Art. 2311, Art. 2317; No. 27, Art. 3634; No. 30, Art. 4219; No. 45, Art. 6154; No. 52, Art. 7543; 2015, No. 1, of the Art. 4, of the Art. 37) this Provision establishes the requirements directed to decrease in risks of implementation by the clearing organizations of clearing activities within risk management system and requirements to the document (documents) determining (determining) the measure directed to decrease in credit, operational and other risks, including the risks connected with combination of clearing activities with other types of activity (further - Rules of risk management).

Chapter 1. General provisions

1.1. For the purpose of decrease in risks of implementation of clearing activities the clearing organization within the organization of risk management system shall provide management credit, operational, and also the following risks:

risk of emergence of expenses (losses) of the clearing organization in case of which inability to fulfill the obligations of one or several members of the financial market causes inability to fulfill the obligations properly of other members of the financial market (systemic risk);

risk of emergence of expenses (losses) of the clearing organization owing to adverse change of market value of financial instruments or other assets in which the means of the clearing organization or means provided to it as ensuring obligation fulfillment (market risk) are invested;

risk of emergence of expenses (losses) of the clearing organization owing to ambiguity of interpretation of rules of law (legal risk);

risk of emergence of expenses (losses) of the clearing organization owing to insufficiency of property at the disposal of the clearing organization for satisfaction of requirements of her creditors for transfer of this property at the scheduled time (liquidity risk);

risk of loss of property of the clearing organization or the property transferred to it as ensuring obligation fulfillment, allowed to clearing, owing to actions or failure to act of person responsible for storage of this property and accounting of the rights to this property (custodial risk);

the risk of excess of expenses of the clearing organization over its income which is not connected with realization of credit and (or) custodial risk (commercial risk);

the regulatory risk determined according to the paragraph the second Item 2.1 of the Instruction of the Bank of Russia of March 15, 2018 No. 4739-U "About requirements to the organization and implementation by the clearing organization of internal control and internal audit", No. 51188 registered by the Ministry of Justice of the Russian Federation of May 28, 2018.

1.2. If the clearing organization combines the activities with other permitted types of activity, risk management system of such clearing organization shall consider as the risks connected with activities of the clearing organization and the risks arising when implementing other types of activity.

1.3. The clearing organization which is credit institution in case of risk management is guided by the regulation of the Bank of Russia establishing requirements to risk management system and the capital of credit institution and banking group, the Provision of the Bank of Russia of December 16, 2003 No. 242-P "About the organization of internal control in credit institutions and banking groups", registered by the Ministry of Justice of the Russian Federation on January 27, 2004 No. 5489, on December 22, 2004 No. 6222, on March 20, 2009 No. 13547, on June 30, 2014 No. 32913 ("the Bulletin of the Bank of Russia" of February 4, 2004 No. 7, of December 31, 2004 No. 74, of April 1, 2009 No. 21, of July 9, 2014 No. 63), and also this Provision in the part which is not contradicting the acts stated above.

"The paragraph one of this Item does not extend to the clearing organization having the status of the central partner. The clearing organization having the status of the central partner in case of risk management is guided by the Provision of the Bank of Russia of December 30, 2016 No. 575-P "About requirements to risk management, rules of the organization of risk management system, clearing providing, placement of property, forming of assets of the central partner, and also to the group of people in which the central partner has the right to open trading and clearing accounts, and technique of determination of the allocated capital of the central partner", the registered Ministry of Justice of the Russian Federation on March 20, 2017 for No. 46034, on June 5, 2018 No. 51286.

Chapter 2. The requirements directed to decrease in risks when implementing clearing activities

2.1. The clearing organization designates the official or creates the separate structural division responsible for the organization of risk management system, except for regulatory risk. For the specified official (the head of separate structural division) the clearing organization shall be principle place of employment.

2.1.1. In case of event as a result of which, in addition to regulatory risk, can (can) be implemented other (others) type (types) of risk, responsibility for management of such types of risk is born by the official (separate structural division) responsible for the organization of risk management system of the clearing organization.

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