The operator shall identify, measure, manage and monitor its general business risk through the use of appropriate procedures and tools.
In order to cover losses from general business risk, the operator shall hold capital and net liquidity. Such capital and net liquidity shall be sufficient to ensure the implementation of the plan specified in Article 26, and shall in any case be sufficient to cover current operating expenses for at least six months.
Collateral and other dedicated financial resources which are used to cover losses from participant defaults or from other credit or liquidity risks in accordance with Articles 28 and 29 must not be used to satisfy the requirement specified in paragraph 2.1
The operator shall have a plan to raise additional capital in case the requirement specified in paragraph 2 is no longer fulfilled.
Footnotes
Amended by No I of the SNB O of 26 Nov. 2015, in force since 1 Jan. 2016 (AS 2015 5307). ↩
0 commentaries
No commentaries are available for this article yet.