by Dismal-Jellyfish
Source: www.dtcc.com/-/media/Files/pdf/2023/2/24/a9264.pdf
Subject: Implementation Date of Changes in the Calculation of the National Securities Clearing Corporation’s Excess Capital Premium Charge
On the morning of the effective date, the ECP charge will be calculated using the proposed changes, which compares a Member’s applicable capital amounts to its Volatility Charge, clarifies the capital amounts used for the comparison, and incorporates a cap of 2.0 for the Excess Capital Ratio.
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