Announcement of China Securities Regulatory Commission [2008] No.28 In order to further strengthen the risk supervision of securities companies, according to the provisions of the Measures for the Administration of Risk Control Indicators of Securities Companies, I will formulate the Standard Provisions for the Calculation of Risk Capital Reserves of Securities Companies, which is hereby promulgated and will come into force on June 5438+February 1 day, 2008. Provisions of June 24, 2008 on the calculation standard of risk capital reserve of securities companies I. Benchmark calculation standard (I) If a securities company engages in securities brokerage business, it shall calculate the risk capital reserve of brokerage business according to 3% of the total amount of client transaction settlement funds entrusted. (2) Where a securities company engages in securities proprietary business, it shall calculate the risk capital reserve according to 10% of the investment scale of fixed-income securities; For securities derivatives and equity securities without risk hedging, the risk capital reserve is calculated at 30% and 20% of the investment scale respectively, and for equity securities and securities derivatives with risk hedging, the risk capital reserve is calculated at 5% of the investment scale. If the self-operated securities company exceeds the prescribed proportion, before the rectification is completed, the excess risk capital reserve shall be calculated according to 100% of the investment cost. (3) Where a securities company engages in securities underwriting business, it shall calculate the risk capital reserve of underwriting business according to 30%, 65%, 438+05%, 8% and 4% of the amount of underwriting refinancing project stocks, IPO project stocks, corporate bonds and government bonds respectively. When calculating the underwriting amount, it does not include the amount distributed by the members of the underwriting syndicate through the company and the amount subscribed by strategic investors through the written agreement signed by the company. When calculating the risk capital reserve for stock underwriting business, a securities company shall, after determining the inquiry interval of the issuance project, calculate according to the upper limit of inquiry. If multiple issuers underwrite securities issued to the public at the same time, and the issuance periods overlap, and the issuance has not yet ended, the risk capital reserve of each underwriting business shall be calculated separately. When submitting a monthly report, a securities company shall fill in the risk capital reserve of underwriting business at the end of the month according to the maximum amount of risk capital reserve calculated at a certain point in the month. If the ratio of net capital to the sum of various venture capital reserves is lower than the prescribed standard due to the time difference, the securities company shall provide a special explanation for the continuous compliance of risk control indicators in the current month. (4) Where a securities company engages in securities asset management business, it shall calculate the risk capital reserve of asset management business according to 8%, 5% and 5% of the scale of special, collective and directional asset management business respectively. A securities company shall calculate the scale of collective asset management business according to the principle of higher face value of collective plan or net asset value under management, and calculate the scale of special and directional asset management business according to the management principal. (5) Where a securities company engages in margin financing and securities lending business, it shall calculate the risk capital reserve of margin financing and securities lending business according to 65,438+00% of the scale of customer financing and securities lending business respectively. (6) Where a securities company establishes branches such as branches and securities business departments, it shall calculate the risk capital reserve of each branch and securities business department according to 20 million yuan and 5 million yuan respectively. (7) A securities company shall calculate the operational risk capital reserve according to 10% of the total operating expenses of the previous year. Two, in order to match the risk management ability of securities companies, at this stage, I will implement different risk capital reserve calculation ratios for different types of securities companies. Company A, Company B, Company C and Company D shall calculate the relevant risk capital reserves respectively according to 0.6 times, 0.8 times, 1 times and 2 times of the benchmark calculation standard specified in Items (1) to (5) of Article 1 above. All kinds of securities companies shall uniformly calculate the relevant risk capital reserves according to the benchmark calculation standards specified in Items (6) and (7) of Article 1 above. Three, securities companies to carry out innovative business, in the pilot stage of innovative business, should be calculated in accordance with the provisions of the higher proportion of commission; In the promotion stage of innovative business, the calculation ratio of risk capital reserve can be appropriately reduced. Annex: calculation table of risk capital reserve of securities companies; Prepared by: Year Month Day Unit: 100 million yuan; Company classification level: project line; Classification calculation standard of risk capital reserve balance ABC D; Opening balance; Closing balance:1; Risk capital reserve of brokerage business 1 in which: total transaction capital of entrusted clients 2 1.8% 2.4% 3% 6% 2. Description of risk capital reserve of proprietary business 1 3, in which: (1) investment scale of securities derivatives 4 warrants 518. Kloc-0/8% 24% 30% 60% 38+02%16% 20% 40% equity fund1012%16% 20% 40% hybrid fund/kloc. 20% 40% trust products1312%16% 20% 40% others1412%16% 20% 40% (3) 17 6% 8% 10% 20% bond fund 18 6% 8% 10% 20% other196% 8%10% 20% (. The risk capital reserve of underwriting business is 265,438+0, of which: the stock underwriting scale of refinancing projects is 22,65,438+08%, the IPO projects are 23,9%, 65,438+02%, and the corporate bonds are 30%. Business scale Note 3 25 2.4% 3.2% 4% 8% 4. The risk capital reserve of asset management business is 26, of which: the scale of collective wealth management business is 27.3% 4% 5% 65,438+00%, the scale of directional wealth management business is 28.3% 4% 5% 65,438+00%, and the scale of special wealth management business is 29.4% 6.4% 8%. The risk capital reserve for margin financing and securities lending business is 30, of which: the scale of margin financing business is 365,438+0.6% 8% 65,438+0.0% 20%, and the scale of margin financing and securities lending business is 32.6% 8% 65,438+0.0% 20% 6, and the risk capital reserve of branches is 33. In which: the number of branches is 34 0.2 0.2 0.2 0.2 0.2 0.2, the number of business departments is 35 0.05 0.05 Other venture capital reserves 38 Sum of various venture capital reserves 39 Attachment: Other matters needing special explanation Note: 1, "securities derivatives" include: warrants and stock index futures; Equity securities specifically include: stocks, equity funds, hybrid funds, collective wealth management products and trust products; Fixed income securities include bonds, bond funds, central bank bills, money market funds and asset securitization products. 2. Corporate bonds refer to corporate bonds, corporate bonds, convertible bonds, short-term financing bonds and medium-term notes with the company as the issuer. 3. Government bonds refer to bonds issued by the government. 4. Operating expenses refer to the sum of business and management fees, asset impairment losses and other operating expenses. Legal Representative: Office Phone: General Manager: Office Phone: Chief Financial Officer: Office Phone: Mobile Phone: Clockmaker: Office Phone: Mobile Phone: