| Article 56 |
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| Article 57 |
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| Article 58 |
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| Article 59 |
The securities financing enterprise shall pay to this Corporation monetary collateral in the amount of 120% of the closing price of the object securities on the then current day multiplied by the volume awarded by competitive auction by 2:00pm of the day of application for such borrowing by competitive auction.
After the securities financing enterprise has paid the monetary collateral, this Corporation will notify the Securities Central Depository Enterprise to transfer the awarded securities to the special account of the securities financing enterprise on the first business day following the date of application for borrowing by competitive auction (the lending date).
The monetary collateral referred to in the preceding paragraph may be paid by way of bearer government bond or transferable bearer certificate of deposit or central book-entry bond, and the setoff value shall be counted at 90% of the face value of such collaterals.
Where the securities financing enterprise pays the monetary collateral by way of central book-entry bond, it shall do so by creating a pledge thereupon.
The lent securities will be redelivered through the Securities Central Depository Enterprise on the first business day following the lending date.
By 10:00am of the first business day following the lending date, the securities financing enterprise shall pay the securities borrowing charge (securities borrowing charge = lending unit price x volume) to the lender through the entrusted securities firm, and this Corporation will return the monetary collateral to the securities financing enterprise.
The entrusted securities firm may collect a handling fee from the lender; such handling fee shall not exceed 10% of the securities borrowing charge. |
| Article 60 |
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| Article 61 |
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| Article 62 |
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| Article 63 |
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| Article 64 |
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