Default Management Process

Content under review because of changes in BME CLEARING's Dedicated Own Resources due to the entry into force of articles 9.14 and 9.15 of the CPRRR last February 12 on the calculation of the Second Skin in the Game (SSITG). For more information, the documentation that has been updated for this reason can be found in the "Regulations" menu, as detailed below:

–      BME CLEARING’s Rulebook: https://www.bmeclearing.es/ing/Regulations/Rule-Book
–      Circulars: https://www.bmeclearing.es/ing/Regulations/Circulars
−      C-GEN-02/2023 Non-Default Losses Allowance for Investment Losses NDL.
−      C-GEN-03/2023 BME CLEARING Dedicated Own Resources (SITG) and Additional Dedicated Own Resources (SSITG).

The Circular ‘Dedicated Own Resources of BME CLEARING’ is amended to provide greater clarity and to identify            those related to the Skin in the Game (SITG) and those related to the Second Skin in the Game (SSITG).

−       Circulars concerning the Default Fund of each Segment:

• C-DF-02/2023 Default Fund
• C-ENE-02/2023 Default Fund
• C-IRS-02/2023 Default Fund
• C-RV-03/2023 Default Fund
• C-VRF-03/2023 Default Fund

BME CLEARING has a document, Default Management Protocol.

ANNEX: DEFAULT MANAGEMENT PROTOCOL