M020085_10_E_9902.pdf

Technical Publication
Diesel Engine
12V 2000 G
16V 2000 G
Maintenance Manual
M020085/10E
Version
535.923-30
DaimlerChrysler Off-Highway
Printed in Germany
E 2002 Copyright MTU Friedrichshafen GmbH
Diese Veröffentlichung einschließlich aller seiner Teile ist urheberrechtlich geschützt. Jede Verwertung oder Nutzung bedarf der vorherigen
schriftlichen Zustimmung der MTU Friedrichshafen GmbH. Das gilt insbesondere für Vervielfältigung, Verbreitung, Bearbeitung,
Übersetzung, Mikroverfilmungen und die Einspeicherung und / oder Verarbeitung in elektronischen Systemen, einschließlich Datenbanken
und Online-Diensten.
Das Handbuch ist zur Vermeidung von Störungen oder Schäden beim Betrieb zu beachten und daher vom Betreiber dem jeweiligen
Wartungs- und Bedienungspersonal zur Verfügung zu stellen.
Änderungen bleiben vorbehalten.
Printed in Germany
This Publication is protected by copyright and may not be used in any way whether in whole or in part without the prior written permission of
MTU Friedrichshafen GmbH. This restriction also applies to copyright, distribution, translation, microfilming and storage or processing on
electronic systems including data bases and online services.
This handbook is provided for use by maintenance and operating personnel in order to avoid malfunctions or damage during operation.
Subject to alterations and amendments.
Imprimé en Allemagne
Tout droit réservé pour cet ouvrage dans son intégralité. Toute utilisation ou exploitation requiert au préalable l’accord écrit de MTU
Friedrichshafen GmbH. Ceci s’applique notamment à la reproduction, la diffusion, la modification, la traduction, l’archivage sur microfiches,
la mémorisation et / ou le traitement sur des systèmes électroniques, y compris les bases de données et les services en ligne.
Le manuel devra être observé en vue d’éviter des incidents ou des endommagements pendant le service. Aussi recommandons-nous à
l’exploitant de le mettre à la disposition du personnel chargé de l’entretien et de la conduite.
Modifications réservées.
Impreso en Alemania
Esta publicación se encuentra protegida, en toda su extensión, por los derechos de autor. Cualquier utilización de la misma, así como su
reproducción, difusión, transformación, traducción, microfilmación, grabación y/o procesamiento en sistemas electrónicos, entre los que se
incluyen bancos de datos y servicios en línea, precisa de la autorización previa de MTU Friedrichshafen GmbH.
El manual debe tenerse presente para evitar fallos o daños durante el servicio, y, por dicho motivo, el usario debe ponerlo a disposición del
personal de mantenimiento y de servicio.
Nos reservamos el derecho de introducir modificaciones.
Stampato in Germania
Questa pubblicazione è protetta dal diritto d’autore in tutte le sue parti. Ciascun impiego od utilizzo, con particolare riguardo alla
riproduzione, alla diffusione, alla modifica, alla traduzione, all’archiviazione in microfilm ed alla memorizzazione od all’elaborazione in
sistemi elettronici, comprese banche dati e servizi on line, deve essere espressamente autorizzato per iscritto dalla MTU Friedrichshafen
GmbH.
II manuale va consultato per evitare anomalie o guasti durante il servizio, per cui va messo a disposizione dall’ utente al personale addetto
alla manutenzione e alla condotta.
Con riserva di modifiche.
Wichtig - Important - Importante
Bitte die Karte „Inbetriebnahmemeldung“ abtrennen und ausgefüllt an MTU Friedrichshafen GmbH
zurücksenden.
Die Informationen der Inbetriebnahmemeldung sind Grundlage für den vertraglich vereinbarten Logistik-
Support (Gewährleistung, Ersatzteile etc.).
Please complete and return the “Commissioning Note” card below to MTU Friedrichshafen GmbH.
The Commissioning Note information serves as a basis for the contractually agreed logistic support
(warranty, spare parts, etc.).
Veuillez séparer la carte “Signalisation de mise en service“ et la renvoyer à la MTU Friedrichshafen

GmbH.
Les informations concernant la signalisation de mise en service constituent la base pour l’assistance en
exploitation contractuelle (garantie, rechanges, etc.).
Rogamos separen la tarjeta “Aviso de puesta en servicio“ y la devuelvan rellenada a MTU

Friedrichshafen GmbH.
Las informaciones respecto al aviso de puesta en servicio constituyen la base para H el soporte logistíco
contractual (garantía, piezas de repuesto, etc.).
Staccare “Avviso di messa in servizio” e rispedirlo debitamente compilato alla MTU Friedrichshafen
GmbH.
Le informazioni ivi registrate sono la base per il supporto logistico contrattuale (garanzia, ricambi, ecc.).
Postcard
MTU Friedrichshafen GmbH

Abteilung SCSD
88040 Friedrichshafen
GERMANY
Bitte in Blockschrift ausfüllen!
Please use block capitals!
Prière de remplir en lettres capitales!
¡A rellenar en letras de imprenta!
Scrivere in stampatello!
Motornr.: Auftragsnr.:
Engine No.: MTU works order No.: Inbetriebnahmemeldung
No du moteur: No de commande:
No de motor: No de pedido:
Motore N.: N. commessa: Commissioning Note
Motortyp: Inbetriebnahmedatum:
Engine model: Date put into operation: Notice de mise en service
Type du moteur: Mise en service le:
Tipo de motor: Fecha de puesta en servicio:
Motore tipo: Messa in servizio il: Aviso de puesta en servicio
Eingebaut in: Schiffstyp / Schiffshersteller:
Installation site: Vessel/type/class / Shipyard:
Lieu de montage: Type du bateau / Constructeur: Avviso di messa in servizio
Lugar de montaje: Tipo de bugue / Constructor:
Installato: Tipo di Barca / Costruttore:
Endabnehmer/Anschrift:
End user‘s address:
Adresse du client final:
Dirección del cliente final:
Indirizzo del cliente finale:
Bemerkung:
Remarks:
Remarques:
Observaciones:
Commento:
Amendment Service!
Any changes in contents will be sent to you in the form of an amendment,
provided you complete the reverse of this receipt card and return it to us.
M020085/10E
Maintenance
Manual
Postcard
MTU Friedrichshafen GmbH

Department SCT
12/16V 2000 G
88040 Friedrichshafen
GERMANY
No. Date Name
Please mark all filed amendments here.
1. 01--01
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
16.
Please use block capitals!
Receipt Amendment No. 1. 01--01

j Update as (PDF) file by E--mail 2.
j Update as (PDF) file as CD--ROM 3.
j Update in hardcopy form 4.

5.
Publication number: M020085/10E
6.
Name 7.
8.
Manufacturer
9.
Department E--mail 10.
Fax Telephone 11.

12.
Street
13.
Postal box number 14.
(Postal code) City 15.

16.
Country
*HQHUDO ,PSRUWDQW LQIRUPDWLRQ
'HVLJQDWLRQ RI HQJLQH VLGHV
7LJKWHQLQJ VSHFLILFDWLRQV
6HWWLQJV
'DQJHUV LQ WKH ZRUN SODFH
'DWD VKHHWV
&RQYHUVLRQ WDEOHV
3XEOLFDWLRQ VXPPDU\
7KUHDGHG ERUH UHSDLU
$EEUHYLDWLRQV
.H\ZRUG LQGH[
2SHUDWLRQ 6FKHGXOHV &KHFN HQJLQH FRQGLWLRQ

: PDLQWHQDQFH RSHUDWLRQV
(QJLQH UHPRYDO
(QJLQH GLVDVVHPEO\
(QJLQH DVVHPEO\
(QJLQH UXQLQ
(QJLQH LQVWDOODWLRQ
(QJLQH GUDZLQJV
7DVN 'HVFULSWLRQV *URXS RYHUZLHZ

0DWHULDOV DQG FRQVXPDEOHV
7RROV
&RPSRQHQW DVVHPEO\
&RPSRQHQW GLVDVVHPEO\
,QVSHFWLRQ DQG UHSDLU
&RPSRQHQW DVVHPEO\
&RPSRQHQW LQVWDOODWLRQ
*HQHUDO 6HFWLRQ $
3DJH
&RQWHQWV
$ ,PSRUWDQW ,QIRUPDWLRQ
$ 'HVLJQDWLRQ RI (QJLQH 6LGHV DQG &\OLQGHUV
$ 7RUTXH 6SHFLILFDWLRQV IRU 6FUHZV DQG 1XWV
$ 6HWWLQJV
$ +D]DUGV LQ :RUNLQJ $UHDV
$ 'DWD 6KHHWV
$ &RQYHUVLRQ7DEOHV
$ 3XEOLFDWLRQ 6XPPDU\
$ 5HSDLULQJ 7KUHDGHG %RUHV
$ $EEUHYLDWLRQV
$ .H\ZRUG ,QGH[
(
6HFWLRQ $ *HQHUDO
3DJH
(
*HQHUDO 6HFWLRQ $
,PSRUWDQW ,QIRUPDWLRQ *URXS
3DJH
$ ,PSRUWDQW ,QIRUPDWLRQ
7KLV PDQXDO LV LQWHQGHG IRU XVH E\ WHFKQLFDO SHUVRQQHO UHVSRQVLEOH IRU WKH PDLQWHQDQFH DQG VHUYLFLQJ RI WKH
VHULHV GLHVHO HQJLQH
7KLV PDQXDO GHVFULEHV
- VFKHGXOHG VHUYLFH RSHUDWLRQV IURP PDLQWHQDQFH HFKHORQV : DV ZHOO DV
- QRQVFKHGXOHG VHUYLFH RSHUDWLRQV RQ WKH LQGLYLGXDO DVVHPEOLHV
,QGH[ VKHHWV GLYLGH WKLV PDQXDO LQWR PDLQ VHFWLRQV

6HFWLRQ $ *HQHUDO
6HFWLRQ % :RUN VFKHGXOHV
6HFWLRQ & 7DVN GHVFULSWLRQ
6HFWLRQ & LV IXUWKHU VXEGLYLGHG LQWR PDLQ IXQFWLRQ JURXSV 0)* DQG IXQFWLRQ JURXSV )* 7KH VWUXFWXUH LV RULHQWHG
WRZDUG WKH ORJLFDO VWUXFWXUH RI WKH SDUWV OLVW DQG 6SDUH 3DUWV &DWDORJXHV
,QWHUPHGLDWH LQGH[ VKHHWV EHDULQJ WKH 0)* QXPEHUV VXEGLYLGH 6HFWLRQ &
(DFK IXQFWLRQ JURXS )* FRQVLVWV RI QR PRUH WKDQ QLQH SDUWV
HJ & *HQHUDO YLHZ

& 6SHFLDO WRRO
& %HIRUHUHPRYDO RSHUDWLRQV
& 5HPRYDO
& 'LVDVVHPEO\
& ,QVSHFWLRQ DQG UHSDLU
& $VVHPEO\
& ,QVWDOODWLRQ
& $IWHULQVWDOODWLRQ RSHUDWLRQV
6\VWHPDWLF VHDUFKHV IRU VSHFLILF LQIRUPDWLRQ DQG UDSLG RULHQWDWLRQ LQ WKH PDQXDO DUH VXSSRUWHG E\
7KH WDEOHV RI FRQWHQWV RQ HDFK PDLQ LQGH[ VKHHW 7KH\ FURVVUHIHUHQFH WKH WDEOHV RI FRQWHQWV RI WKH LQGLYLGXDO
JURXSV
$Q DOSKDEHWLFDO VXEMHFW LQGH[ LQ 6HFWLRQ $ SURYLGHV GLUHFW DFFHVV WR WKH LQGLYLGXDO *URXSV
7KH *URXS 6XPPDU\ DW WKH VWDUW RI 6HFWLRQ & OLVWV WKH LQGLYLGXDO PDLQ IXQFWLRQ JURXSV
%DVLF UHTXLUHPHQWV IRU PDLQWHQDQFH DQG VHUYLFH ZRUN

&XVWRPHUV SHUIRUPLQJ WKHLU RZQ PDLQWHQDQFH PXVW HQVXUH WKDW WKH IROORZLQJ FRQGLWLRQV DQG EDVLF UHTXLUHPHQWV DUH
VDWLVILHG
DOO VDIHW\ UHJXODWLRQV DUH REVHUYHG
JRRG JHQHUDOSXUSRVH WRROV DUH SURYLGHG
FOHDQLQJ DQG WHVWLQJ HTXLSPHQW LV SURYLGHG
ZRUN LV SHUIRUPHG E\ WUDLQHG SHUVRQQHO
VSHFLDO WRROV DUH SURYLGHG
VHUYLFH DUHD LV DGHTXDWHO\ HTXLSSHG
(
6HFWLRQ $ *HQHUDO
*URXS ,PSRUWDQW ,QIRUPDWLRQ
3DJH
*HQHUDO $VVHPEO\ ,QVWUXFWLRQV

- &RPSRQHQW FOHDQQHVV
$UHDV RI DOO FRPSRQHQWV WKDW FRPH LQ FRQWDFW ZLWK RLO IXHO HQJLQH FRRODQW DQG FRPEXVWLRQ DLU PXVW EH NHSW
FOHDQ
- &RPSRQHQWV UHTXLULQJ ´VSHFLDO FOHDQOLQHVVµ HJ RLO DQG IXHOFDUU\LQJ FRPSRQHQWV PXVW EH FOHDQHG ZLWK VXLW
DEOH FOHDQLQJ SURFHGXUHV EHIRUH DVVHPEO\ FKHFNHG IRU SDUWLFXODU FOHDQQHVV DQG WUHDWHG DFFRUGLQJO\
- &RPSRQHQW SDFNDJLQJ PXVW RQO\ EH UHPRYHG LPPHGLDWHO\ EHIRUH LQVWDOODWLRQ
- (ODVWRPHU FRPSRQHQWV HJ UXEEHU SDUWV HWF PXVW QRW EH ZDVKHG ZLWK GLHVHO IXHO VROYHQWV RU FROG FOHDQHUV
3DUWV GLUWLHG ZLWK RLO DQG IXHO PXVW EH FOHDQHG LPPHGLDWHO\ 7KH SDUWV VKRXOG EH ZLSHG ZLWK D GU\ FORWK
(ODVWRPHU FRPSRQHQWV VXFK DV HQJLQH PRXQWV GDPSLQJ HOHPHQWV FRXSOLQJV DQG 9EHOWV PXVW QRW EH SDLQWHG
7KH\ FDQ RQO\ EH LQVWDOOHG DIWHU SDLQWLQJ WKH HQJLQH RU PXVW EH FRYHUHG EHIRUH SDLQWLQJ ZRUN LV FDUULHG RXW
- 5DGLDOOLS VKDIW VHDOV WUHDWHG E\ WKH PDQXIDFWXUHU ZLWK RLO VKRZ DV D UHVXOW GHILQLWH VLJQV RI VZHOOLQJ ZKHQ GHOLY
HUHG 7KH\ PXVW WKHUHIRUH EH FOHDQHG QRW ZDVKHG RQO\ ZLWK DQ DEUDVLRQSURRI SDSHU FORWK EHIRUH LQVWDOODWLRQ
- 7KH VXUIDFHV RI SDUWV WKDW VOLGH DJDLQVW HDFK RWKHU PXVW EH OXEULFDWHG ZLWK 6$( HQJLQH RLO ZKHQ LQVWDOOHG
XQOHVV RWKHUZLVH VSHFLILHG
- 2ULQJV DQG VXUIDFHV PRYLQJ DJDLQVW WKHP GXULQJ LQVWDOODWLRQ ERUHV DQG VKDIWV PXVW EH FRDWHG ZLWK SHWUROHXP
MHOO\ XQOHVV RWKHUZLVH VSHFLILHG
:KHQ LQVWDOOLQJ 2ULQJV ZLWK FRXQWHUULQJV LQ FRRODQW SXPSV DOZD\V IROORZ WKH LQVWDOODWLRQ LQVWUXFWLRQV
- $IWHU LQVWDOOLQJ 2ULQJV LQ VKDIW JURRYHV LQ RUGHU WR UHPHG\ WZLVWV FDXVHG E\ LQVWDOODWLRQ SDVV D URXQGHG PDUN
LQJ WRRO XQGHU WKH VHDOLQJ ULQJ LQ WKH GLUHFWLRQ RI WKH FLUFXPIHUHQFH LI WKH 2ULQJ GLDPHWHU LV VXIILFLHQWO\ ODUJH
0DNH VXUH WKDW WKH 2ULQJ LV QRW GDPDJHG
- %HIRUH VKDIW VHDO DVVHPEO\
2Q WKH VKDIW WKH VHDOLQJ OLS RI WKH VKDIW VHDO PXVW EH FRDWHG ZLWK SHWUROHXP MHOO\ DQG WKH VKDIW UXQQLQJ VXUIDFH
ZLWK WKLQILOP OXEULFDQW RU 6$( HQJLQH RLO
,Q WKH VXSSRUW ERUH WKH RXWHU VXUIDFH RI PHWDO RXWHU MDFNHWV XQOHVV RWKHUZLVH VSHFLILHG LQ WKH GUDZLQJ PXVW
EH FRDWHG ZLWK VXUIDFH VHDODQW )RU HODVWRPHU RXWHU MDFNHWV RU FRPELQHG PHWDOHODVWRPHU RXWHU MDFNHWV WKH
RXWHU VXUIDFH PXVW EH FRDWHG ZLWK GHQDWXUDWHG HWKDQRO
7KLV V\PERO DSSOLHV WR UDGLDOOLS VKDIW VHDOV DQG LWV VLJQLILFDQFH GHSHQGV RQ LWV SRVLWLRQ
7KH DUURZ LQGLFDWHV WKH SRVLWLRQ RI WKH VHDOLQJ OLS
- 6HDOLQJ SDVWH PXVW EH XVHG WR IL[ WKH SRVLWLRQ RI IODW JDVNHWV 6HDOLQJ SDVWH LV WR EH WKLQO\ DSSOLHG LQ VSRWV RQ WKH
IODW JDVNHWV RU PDWLQJ IDFHV ,PPHGLDWHO\ DIWHU DSSOLFDWLRQ RI WKH VHDOLQJ SDVWH WKH IODW JDVNHWV PXVW EH ILWWHG WR
WKH FRPSRQHQW DQG WKHQ QR PRUH WKDQ PLQXWHV ODWHU WKH VHDO FRPSRQHQWV VFUHZHG WRJHWKHU
2LO PXOWLSXUSRVH JUHDVH RU RWKHU PDWHULDOV PXVW QRW EH XVHG WR IL[ WKH SRVLWLRQ
- %HIRUH LQVWDOOLQJ DQWLIULFWLRQ EHDULQJV OLJKWO\ OXEULFDWH WKH EHDULQJ VHDWV
2QO\ UHPRYH WKH EHDULQJV IURP WKHLU RULJLQDO SDFNDJLQJ LPPHGLDWHO\ EHIRUH LQVWDOODWLRQ VR WKH\ GR QRW JHW GLUW\
'R QRW UHPRYH WKH FRUURVLRQ LQKLELWRU IURP WKH EHDULQJV LQ RULJLQDO SDFNDJLQJ
8VH SHWUROHXP VSLULW RU DFLGIUHH NHURVHQH WR FOHDQ WKH DQWLIULFWLRQ EHDULQJV
$IWHU FOHDQLQJ UHOXEULFDWH WKH EHDULQJV ZLWK HQJLQH RLO
'XULQJ DVVHPEO\ GR QRW DSSO\ D[LDO IRUFHV WR DQWLIULFWLRQ HOHPHQWV DQG GR QRW KLW WKH EHDULQJ ULQJV ZLWK D
KDPPHU XVH DVVHPEO\ DLGV
'R QRW XVH DQ RSHQ IODPH WR KHDW EHDULQJ LQQHU UDFHV
7KH WHPSHUDWXUH VKRXOG EH EHWZHHQ & DQG & DQG PXVW QHYHU H[FHHG &
'HHSIUHH]LQJ IRU IULFWLRQ EHDULQJ LQVWDOODWLRQ LV QRW SHUPLVVLEOH ULVN RI FUDFNLQJ UXVWLQJ WKURXJK FRQGHQVDWH
- 'U\ EHDULQJV PXVW QRW EH RLOHG
- :KHQ LQVWDOOLQJ JHDUV WKH VSOLQHV PXVW EH OXEULFDWHG ZLWK 6$( HQJLQH RLO
(
*HQHUDO 6HFWLRQ $
,PSRUWDQW ,QIRUPDWLRQ *URXS
3DJH
- $OO VXSSRUW DQG PDWLQJ VXUIDFHV RI FRPSRQHQWV HJ PDWLQJ VXUIDFHV IRU FHQWULQJ GHYLFHV IODQJH DQG VHDOLQJ
VXUIDFHV MRLQW VXUIDFHV RI SUHVV ILWV PXVW EH FOHDQ SROLVKHG RU SURYLGHG ZLWK WKH VSHFLILHG VXUIDFH SURWHFWLRQ
DQG IUHH IURP ZDUSLQJ DQG GDPDJH &RUURVLRQ LQKLELWRUV HJ RLO JUHDVH PXVW EH UHPRYHG IURP VXSSRUW DQG
PDWLQJ VXUIDFHV
- $IWHU SDUWV DUH MRLQHG ZKLFK DUH LQVWDOOHG E\ PHDQV RI FRROLQJ XVLQJ OLTXLG QLWURJHQ DOO FRQGHQVDWH PXVW EH UH
PRYHG DQG WKH SDUWV FRDWHG ZLWK 6$( HQJLQH RLO
- 6HQVRUV PXVW EH FRDWHG ZLWK ORQJOLIH OXEULFDQW EHIRUH LQVWDOODWLRQ LQ WKH LPPHUVLRQ VOHHYHV
- &DEOH FRQQHFWLRQV ZLWK FXWWLQJ ULQJ WKUHDGHG FRQQHFWLRQV PXVW EH LQVWDOOHG LQ D YLFH DQG WLJKWHQHG WKH WKUHDG
ILUVW EHLQJ FRDWHG ZLWK WKLQILOP OXEULFDQW
- ,I FRPSRQHQWV DUH WR EH PDUNHG E\ HWFKLQJ DIWHU WKH HWFKLQJ LV FRPSOHWHG WKH VROXWLRQ PXVW EH UHPRYHG E\
PHDQV RI QHXWUDOL]DWLRQ DJHQW 7KH DIIHFWHG SDUWV PXVW WKHQ EH SUHVHUYHG ZLWK 6$( HQJLQH RLO
- &RPSRQHQWV XVHG LQ KRW SDUW DUHDV HJ 9FODPSV EHOORZV SOXJLQ SLSHV 2ULQJV PXVW EH FRDWHG DW WKH VXS
SRUW DQG PDWLQJ VXUIDFHV ZLWK DVVHPEO\ SDVWH XQOHVV RWKHUZLVH VSHFLILHG
- 7KH DVVHPEO\ VXUIDFHV RI VFUHZV QXWV ZDVKHUV DQG RI SDUWV WR EH WHQVLRQHG PXVW EH FOHDQ DQG SROLVKHG RU
SURYLGHG ZLWK WKH VSHFLILHG VXUIDFH SURWHFWLRQ DQG IUHH IURP ZDUSLQJ DQG GDPDJH &RUURVLRQ LQKLELWRUV HJ RLO
JUHDVH PXVW EH UHPRYHG 7KUHDGV DQG VFUHZ KHDGV PXVW EH FRDWHG ZLWK OXEULFDQW EHIRUH DVVHPEO\ DV SHU
WLJKWHQLQJ VSHFLILFDWLRQV
8QOHVV RWKHUZLVH VSHFLILHG WKH IROORZLQJ OXEULFDQWV VKRXOG EH XVHG
6$( HQJLQH RLO IRU JHQHUDO DSSOLFDWLRQ
$VVHPEO\ SDVWH LQ KRW SDUW DUHDV
D 7KUHDGHG FRQQHFWLRQV ZLWKRXW WLJKWHQLQJ VSHFLILFDWLRQV

)RU WKUHDGHG FRQQHFWLRQV ZLWKRXW WLJKWHQLQJ VSHFLILFDWLRQV WKH WLJKWHQLQJ SURFHGXUH FDQ EH VHOHFWHG DV UH
TXLUHG LH PHFKDQLFDO WLJKWHQLQJ ZLWK VFUHZGULYHU RU QRUPDO PDQXDO WLJKWHQLQJ ZLWK DQ RSHQHQG ZUHQFK RU ER[
ZUHQFK LV SRVVLEOH
,Q WKH HYHQW RI PHFKDQLFDO WLJKWHQLQJ WKH WLJKWHQLQJ WRUTXH PXVW EH WDNHQ IURP WKH JHQHUDO WLJKWHQLQJ VSHFLILFD
WLRQV DFFRUGLQJ WR WKUHDG VL]H DQG SURSHUW\ FODVV
E 7KUHDGHG FRQQHFWLRQV ZLWK WLJKWHQLQJ VSHFLILFDWLRQV

7RUTXH WLJKWHQLQJ
7KH VFUHZ FRQQHFWLRQV PXVW EH WLJKWHQHG E\ KDQG ZLWK D WRUTXH ZUHQFK RU DQJOHRIURWDWLRQ WRUTXH ZUHQFK
7KH VSHFLILHG WLJKWHQLQJ WRUTXHV PXVW EH VHW DW WKH WRUTXH ZUHQFK ZLWKRXW FRQVLGHUDWLRQ RI WKH VSHFLILHG WROHU
DQFH :KHQ XVLQJ DQ DQJOHRIURWDWLRQ WRUTXH ZUHQFK WKH WRUTXH LQGLFDWHG PXVW EH ZLWKLQ WKH WRUTXH VSHFLIL
FDWLRQ OLPLW YDOXH 3URFHHG LQ D VLPLODU PDQQHU ZLWK WRUVLRQDOO\ SURWHFWHG WKUHDGHG FRQQHFWLRQV 7KHVH LQVWUXF
WLRQV DSSO\ DOVR WR WHVWLQJ WRUTXH
1RWH ,I QR WROHUDQFH IRU WLJKWHQLQJ WRUTXH LV VWDWHG WKH WLJKWHQLQJ WROHUDQFH LV RI VSHFLILHG WRUTXH
$QJOH RI URWDWLRQ WLJKWHQLQJ
7KH DGGLWLRQDO DQJOHV RI URWDWLRQ VSHFLILHG LQ WKH WLJKWHQLQJ VSHFLILFDWLRQV PXVW EH DFKLHYHG DQG PD\ EH H[
FHHGHG ZLWKLQ WKH VSHFLILHG WROHUDQFH
,I QR WLJKWHQLQJ WROHUDQFH LV VSHFLILHG WKH IROORZLQJ WROHUDQFHV PXVW EH REVHUYHG
IRU DGGLWLRQDO DQJOH RI URWDWLRQ OHVV WKDQ RU HTXDO WR
IRU DGGLWLRQDO DQJOH RI URWDWLRQ JUHDWHU WKDQ
%HIRUH DQJOHRIURWDWLRQ WLJKWHQLQJ HDFK VFUHZ KHDG PXVW EH FRORXUPDUNHG VR WKDW DIWHU WLJKWHQLQJ LW LV SRVV
LEOH WR FKHFN WKDW WKH DQJOH RI URWDWLRQ LV FRUUHFW H[FHSWLRQ FRORXUPDUNLQJ LV QRW QHFHVVDU\ LQ WKH FDVH RI D
VHOIPRQLWRULQJ 1& VFUHZGULYHU
(ORQJDWLRQ WLJKWHQLQJ
7LJKWHQLQJ PXVW EH FDUULHG RXW LQ DFFRUGDQFH ZLWK WLJKWHQLQJ VSHFLILFDWLRQV WDNLQJ WKH WLJKWHQLQJ WROHUDQFH LQWR
FRQVLGHUDWLRQ
(
6HFWLRQ $ *HQHUDO
*URXS ,PSRUWDQW ,QIRUPDWLRQ
3DJH
(
*HQHUDO 6HFWLRQ $
'HVLJQDWLRQ RI *URXS
(QJLQH 6LGHV DQG &\OLQGHU 'HVLJQDWLRQV 3DJH
$ 'HVLJQDWLRQ RI HQJLQH VLGHV DQG F\OLQGHUV
(QJLQH VLGHV DUH DOZD\V GHVLJQDWHG DV YLHZHG IURP WKH GULYLQJ HQG
&\OLQGHUV DUH GHVLJQDWHG WR ',1 ,62 $ RQ WKH OHIW HQJLQH VLGH DQG % RQ WKH ULJKW HQJLQH VLGH
7KH F\OLQGHUV RI HDFK EDQN DUH QXPEHUHG LQ FRQVHFXWLYH RUGHU EHJLQQLQJ DW 1R DW WKH GULYLQJ HQG
7KH FRQVHFXWLYH QXPEHULQJ RI RWKHU FRPSRQHQWV WRR DOZD\V EHJLQV ZLWK 1R DW WKH GULYLQJ HQG RI WKH HQJLQH
9
9
'HVLJQDWLRQV DQG $EEUHYLDWLRQV

'ULYLQJ HQG .6
)UHH HQG .*6
/HIW VLGH
5LJKW VLGH
7RS HQG
%RWWRP HQG
(
6HFWLRQ $ *HQHUDO
*URXS 'HVLJQDWLRQ RI
3DJH (QJLQH 6LGHV DQG &\OLQGHU 'HVLJQDWLRQV
(
*HQHUDO 6HFWLRQ $
7LJKWHQLQJ 6SHFLILFDWLRQV IRU *URXS
6FUHZV DQG 1XWV 3DJH
$ 7LJKWHQLQJ 6SHFLILFDWLRQV IRU 6FUHZV DQG 1XWV
'HVLJQDWLRQ 7LJKWHQLQJ /XEULFDQW 6HH

6SHFLILFDWLRQV
&UDQNFDVH
&HQWUH KH[ VFUHZV IRU FUDQNVKDIW EHDULQJ FDS (QJLQH RLO &
0D[ VKDIW OHQJWK PP &
3UHWLJKWHQLQJ WRUTXH 1P 1P
$GGLWLRQDO DQJOH RI URWDWLRQ
6LGH GRXEOHKH[ VFUHZV IRU FUDQNVKDIW EHDULQJ FDS 1P 1P (QJLQH RLO &
3OXJV IRU PDLQ RLO GXFWV 0l 1P (QJLQH RLO &
3OXJV IRU RLO GUDLQ LQ RLO SDQ 0 l 1P (QJLQH RLO &
6FUHZV IRU FRYHU RI +HQJVW RLO VHSDUDWRU 1P 1P (QJLQH RLO &
*HDU WUDLQ
&ROODU VFUHZV IRU IO\ZKHHO KRXVLQJ 1P (QJLQH RLO &
+H[ VFUHZV IRU IO\ZKHHO KRXVLQJ 1P (QJLQH RLO &
+H[ VFUHZV IRU EHOW SXOOH\ DQG YLEUDWLRQ GDPSHU RQ KXE 9 1P 1P (QJLQH RLO &
&
+H[ VFUHZV IRU EHOW SXOOH\ RQ YLEUDWLRQ GDPSHU 9 1P 1P (QJLQH RLO &
5XQQLQJ JHDU
6FUHZV IRU FRXQWHUZHLJKWV (QJLQH RLO &
0D[ VKDIW OHQJWK PP
+H[ VFUHZV IRU IO\ZKHHO 1P (QJLQH RLO &
+H[ VFUHZV IRU YLEUDWLRQ GDPSHU RQ KXE 9 1P 1P (QJLQH RLO &
+H[ VFUHZV IRU VLGH SODWH 1P (QJLQH RLO &
RQ YLEUDWLRQ GDPSHU 9
&RQURG FDS VFUHZV (QJLQH RLO &
0D[ VKDIW OHQJWK PP
7LJKWHQLQJ VHTXHQFH KH[ VFUHZV EHIRUH GRXEOHKH[ VFUHZV

5HSODFH FRQURG FDS VFUHZV ZLWK FUDFNHG PDWLQJ IDFHV GXULQJ HDFK HQJLQH GLVDVVHPEO\
(
6HFWLRQ $ *HQHUDO
*URXS 7LJKWHQLQJ 6SHFLILFDWLRQV IRU
3DJH 6FUHZV DQG 1XWV

6SHFLILFDWLRQV
&\OLQGHU KHDG
'RXEOHKH[ VFUHZV IRU F\OLQGHU KHDG (QJLQH RLO &
0D[ VKDIW OHQJWK PP
3UHWLJKWHQLQJ WRUTXH LQ VWDJHV
VW VWDJH 1P
QG VWDJH 1P
UG VWDJH 1P
WK VWDJH 1P
$GGLWLRQDO DQJOH RI URWDWLRQ LQ VWDJHV
VW VWDJH
QG VWDJH
&\OLQGHU KHDG WLJKWHQLQJ GLDJUDP
3URWHFWLYH VOHHYH IRU LQMHFWRU 1P 1P (QJLQH RLO &

9DOYH JHDU
/RFNQXW RQ DGMXVWLQJ VFUHZ IRU URFNHU DUP 1P (QJLQH RLO &
/RFNQXW RQ DGMXVWLQJ VFUHZ IRU YDOYH EULGJH 1P 1P (QJLQH RLO &
+H[ VFUHZV IRU URFNHU VKDIW VXSSRUW (QJLQH RLO &
0D[ VKDIW OHQJWK PP
3UHWLJKWHQLQJ WRUTXH 1P
&ROODU VFUHZ IRU F\OLQGHU KHDG FRYHU 1P (QJLQH RLO &
)XHO V\VWHP KLJKSUHVVXUH
6FUHZV IRU SOXJLQ FOLSV RQ LQMHFWLRQ SXPS 1P 1P (QJLQH RLO &
'RXEOHKH[ VFUHZV IRU LQMHFWLRQ SXPS 1P 1P (QJLQH RLO &
+H[ VFUHZ IRU FODPSLQJ HOHPHQW RQ LQMHFWRU 1P (QJLQH RLO &
8QLRQ QXW RI LQMHFWLRQ OLQH RQ LQMHFWLRQ SXPS 1P 1P (QJLQH RLO &
$GDSWHU RI LQMHFWLRQ OLQH LQ F\OLQGHU KHDG 1P (QJLQH RLO &
(
*HQHUDO 6HFWLRQ $

6SHFLILFDWLRQV
)XHO V\VWHP ORZ SUHVVXUH

6FUHZ IRU GULYHU RI IXHO SXPS RQ :3 VKDIW 1P (QJLQH RLO &
+H[ VFUHZV IRU IXHO SLSHZRUN IXHO GLVWULEXWLRQ UDLO RQ FUDQN 1P (QJLQH RLO &
FDVH
+H[ VFUHZV IRU IXHO GLVWULEXWLRQ KRXVLQJ RQ IXHO SLSHZRUN 1P (QJLQH RLO &
IXHO GLVWULEXWLRQ UDLO
)XHO GLVWULEXWLRQ KRXVLQJ &
KH[ VFUHZV IRU FRYHU RQ KRXVLQJ 1P 1P (QJLQH RLO
8QLRQ 0 [ 1P 1P (QJLQH RLO
,QWHUFRROHU
+H[ VFUHZV 0 [ IRU FRQQHFWLQJ KRXVLQJ 1P (QJLQH RLO &
RQ IO\ZKHHO KRXVLQJ
+H[ VFUHZV 0 [ IRU FRQQHFWLQJ KRXVLQJ 1P (QJLQH RLO &
RQ IO\ZKHHO KRXVLQJ
+H[ VFUHZV IRU LQWHUFRROHU 1P (QJLQH RLO &
RQ FRQQHFWLQJ KRXVLQJ ERWWRP
+H[ VFUHZV IRU FRQQHFWLQJ KRXVLQJ WRS RQ LQWHUFRROHU 1P (QJLQH RLO &
6HDOLQJ IODQJH DQG EUDFNHW IRU H[KDXVW HOERZ RQ LQWHUFRROHU 1P (QJLQH RLO &
FRQQHFWLQJ KRXVLQJ &
$LU LQWDNH $LU VXSSO\
+H[ VFUHZV IRU IODQJH RQ FKDUJH DLU PDQLIROG 1P (QJLQH RLO &
3OXJ LQ FKDUJH DLU PDQLIROG 0 l 1P 7KUHDGVHDOLQJ &
FRPSRXQG
3OXJ LQ FKDUJH DLU PDQLIROG 0 l 1P (QJLQH RLO &
([KDXVW V\VWHP
+H[ VFUHZV IRU H[KDXVW PDQLIROG 1P $VVHPEO\ SDVWH &
%UDFNHW IRU H[KDXVW HOERZ RQ VHDOLQJ IODQJH IRU LQWHUFRROHU 1P (QJLQH RLO &
FRQQHFWLQJ KRXVLQJ &
6WDUWHU
+H[ VFUHZV IRU VWDUWHU LQ IO\ZKHHO KRXVLQJ 1P (QJLQH RLO &
/XEH RLO V\VWHP
&RQQHFWRU IRU RLO GLSVWLFN WXEH LQ RLO SDQ 1P (QJLQH RLO &
2LO GLSVWLFN RQ FRQQHFWRU 1P (QJLQH RLO &
1XWV IRU RLO FRROLQJ HOHPHQW DQG VWXG RQ FRYHU RI RLO KHDW H[ 1P (QJLQH RLO &
FKDQJHU
+H[ VFUHZV IRU FRYHU RQ RLO FRROHU KRXVLQJ 1P (QJLQH RLO &
6FUHZV IRU RLO VSUD\ QR]]OH 1P (QJLQH RLO &
8QLRQ IRU H[KDXVW WXUERFKDUJHU RLO IHHG SLSH RQ 1P (QJLQH RLO &
&UDQNFDVH
6FUHZV IRU H[KDXVW WXUERFKDUJHU RLO UHWXUQ OLQH RQ IO\ZKHHO 1P (QJLQH RLO &
KRXVLQJ
6FUHZV IRU RLO UHWXUQ OLQH RQ WXUERFKDUJHU 9 1P (QJLQH RLO &
6FUHZV IRU RLO UHWXUQ OLQH RQ WXUERFKDUJHU 9 1P (QJLQH RLO &
(
6HFWLRQ $ *HQHUDO
&RROLQJ V\VWHP
1XW IRU LPSHOOHU FRRODQW SXPS 6SHFLDO &
7LJKWHQLQJ WRUTXH 1P OXEULFDWLQJ SDVWH
,QWHUIHUHQFH ILW RI LPSHOOHU 1P ''& <
&KHFNLQJ WRUTXH
1P
6FUHZV IRU IODQJH RQ RLO KHDW H[FKDQJHU 1P (QJLQH RLO &
SLSH WR LQWHUFRROHU
3RZHU VXSSO\ HQJLQH VLGH
+H[ VFUHZ IRU JHQHUDWRU RQ EUDFNHW 1P 1P (QJLQH RLO &
6FUHZ IRU VWUHVV EROW RQ EUDFNHW 1P 1P (QJLQH RLO &
6FUHZ IRU OLQN RQ JHQHUDWRU 1P 1P (QJLQH RLO &
1XW IRU EHOW SXOOH\ RQ JHQHUDWRU 1P 1P (QJLQH RLO &
&RROLQJ DLU V\VWHP
+H[ VFUHZV IRU EUDFNHW RI EHDULQJ XQLW RQ UHWDLQHU 1P (QJLQH RLO &
1XW IRU EHDULQJ RQ EUDFNHW 1P (QJLQH RLO &
1P
+H[ VFUHZ IRU EDOO EHDULQJ LQ EHOW WHQVLRQHU 1P 1P (QJLQH RLO &
0RQLWRULQJ FRQWURO DQG UHJXODWLRQ GHYLFHV
&KDUJH DLU SUHVVXUH VHQVRU LQ FKDUJH DLU PDQLIROG 1P (QJLQH RLO &
/XEH RLO SUHVVXUH VHQVRU LQ FRRODQW GLVWULEXWLRQ KRXVLQJ 1P (QJLQH RLO &
7HPSHUDWXUH VHQVRU IRU FKDUJH DLU FRRODQW OXEH RLO IXHO 1P (QJLQH RLO &
(
General Section A
Tightening Specifications for Group 003
Screws and Nuts Page 5
Tightening specification for set screw and stud connections to works standard MTN 5008
This works standard applies to set screws subjected to little dynamic load as per MMN 384, DIN 912, EN 24014
(DIN 931–1), EN 24017 (DIN 933), EN 28765 (DIN 960), EN 28676 (DIN 961), DIN 6912 and to studs as per
DIN 833, DIN 835, DIN 836, DIN 938, DIN 939 and associated nuts.
They do not apply to heat-proof screws in the hot component area.
Tightening torques MA are for screws of strength class 8.8 (bright surface, phosphate coating or galvanised) and
10.9 (bright surface or with phosphate coating).
The values in the table are based on a friction coefficient µtot = 0.125. Precondition: Thread and mating faces of
screws and nuts must be coated in engine oil prior to assembly.
When tightening manually (tightening specifications), an assembly tolerance of + 10% of the table values is per-
mitted for unavoidable deviations of the tightening torque from the table value during the tightening process –
e.g. resulting from inaccurate readings and overtightening during assembly.
When tightening mechanically, the permitted assembly tolerance is + 15%
ÁÁÁÁÁÁÁÁÁÁÁÁ
Tightening torques = MA
ÁÁÁÁÁÁÁ
ÁÁÁÁÁÁ
ÁÁÁÁÁÁÁ
ÁÁÁÁÁÁÁÁÁÁÁÁ ÁÁÁÁÁÁ
ÁÁÁÁÁÁÁ
ÁÁÁÁÁÁ
ÁÁÁÁÁÁÁ
ÁÁÁÁÁÁ
Thread Manual-tightened Machine-tightened
ÁÁÁÁÁÁÁ
ÁÁÁÁÁÁ ÁÁÁÁÁÁ
ÁÁÁÁÁÁÁ
8.8 10.9 8.8 10.9
MA (Nm) MA (Nm) MA (Nm) MA (Nm)
M6
ÁÁÁÁÁÁÁ
M8
ÁÁÁÁÁÁ
ÁÁÁÁÁÁÁ ÁÁÁÁÁÁÁ
ÁÁÁÁÁÁÁ
ÁÁÁÁÁÁ
9
21
12
31
8
20
11
28
M8 x 1
ÁÁÁÁÁÁÁ
M10
ÁÁÁÁÁÁ
ÁÁÁÁÁÁÁ
ÁÁÁÁÁÁ
23
42
32
60
21
40
30
57
M10 x 1.25
ÁÁÁÁÁÁÁ
M12
ÁÁÁÁÁÁ
ÁÁÁÁÁÁÁ
ÁÁÁÁÁÁ
45
74
63
100
42
70
60
92
M12 x 1.25
ÁÁÁÁÁÁÁ
M12 x 1.5
ÁÁÁÁÁÁ
ÁÁÁÁÁÁÁ
ÁÁÁÁÁÁ
80
76
110
105
75
72
105
100
M14
ÁÁÁÁÁÁÁ
M14 x 1.5
ÁÁÁÁÁÁ
ÁÁÁÁÁÁÁ
ÁÁÁÁÁÁ
115
125
160
180
110
120
150
170
M16
ÁÁÁÁÁÁÁ
M16 x 1.5
ÁÁÁÁÁÁ
ÁÁÁÁÁÁÁ
ÁÁÁÁÁÁ
180
190
250
270
170
180
235
255
M18
ÁÁÁÁÁÁÁ
M18 x 1.5
ÁÁÁÁÁÁ
ÁÁÁÁÁÁÁ
ÁÁÁÁÁÁ
250
280
350
400
240
270
330
380
M20
ÁÁÁÁÁÁÁ
M20 x 1.5
ÁÁÁÁÁÁ
ÁÁÁÁÁÁÁ
ÁÁÁÁÁÁ
350
390
500
550
330
350
475
520
M22
ÁÁÁÁÁÁÁ
M22 x 1.5
ÁÁÁÁÁÁ
ÁÁÁÁÁÁÁ
ÁÁÁÁÁÁ
480
520
680
730
450
490
650
700
M24
ÁÁÁÁÁÁÁ
M24 x 1.5
ÁÁÁÁÁÁ
ÁÁÁÁÁÁÁ
ÁÁÁÁÁÁ
600
680
850
950
570
640
810
900
M24 x 2
ÁÁÁÁÁÁÁ
M27
ÁÁÁÁÁÁ
ÁÁÁÁÁÁÁ
ÁÁÁÁÁÁ
660
900
900
1250
620
850
850
1175
M27 x 2
ÁÁÁÁÁÁÁ
M30
ÁÁÁÁÁÁ
ÁÁÁÁÁÁÁ
ÁÁÁÁÁÁ
960
1200
1350
1700
900
1100
1275
1600
M30 x 2
ÁÁÁÁÁÁÁ
ÁÁÁÁÁÁ
ÁÁÁÁÁÁÁ
ÁÁÁÁÁÁ 1350 1900 1250 1800
20085/10 E 99–02
6HFWLRQ $ *HQHUDO
7LJKWHQLQJ WRUTXHV IRU VWUHVV EROW FRQQHFWLRQV SUHVFULEHG LQ VWDQGDUG 071
7KLV VWDQGDUG DSSOLHV WR VWUHVV SLQ EROWV DQG VWUHVV EROWV ZKLFK DUH VXEMHFWHG WR VWDWLF DQG G\QDPLF ORDG RI VWUHQJWK
FODVV DQG WKH DVVRFLDWHG QXWV
6KDIW DQG WUDQVLWLRQ GLPHQVLRQV DV WR 001 VWDQGDUG DQG PDWHULDO DQG PDFKLQLQJ WR 001 VWDQGDUG EULJKW
VXUIDFH RU ZLWK SKRVSKDWH FRDWLQJ
7KH YDOXHV LQ WKH WDEOH DUH EDVHG RQ D IULFWLRQ FRHIILFLHQW mWRW 3UHFRQGLWLRQ 7KUHDG DQG PDWLQJ IDFHV RI
VFUHZV DQG QXWV PXVW EH FRDWHG LQ HQJLQH RLO SULRU WR DVVHPEO\
$Q DVVHPEO\ WROHUDQFH RI RI WKH WDEOH YDOXHV LV SHUPLWWHG IRU XQDYRLGDEOH GHYLDWLRQV RI WKH WLJKWHQLQJ WRUTXH
IURP WKH WDEOH YDOXH GXULQJ WKH WLJKWHQLQJ SURFHVV HJ UHVXOWLQJ IURP LQDFFXUDWH UHDGLQJV DQG RYHUWLJKWHQLQJ GXU
LQJ DVVHPEO\
7KH YDOXHV LQ WKH WDEOHV DUH IRU PDQXDO WLJKWHQLQJ ZLWK WRUTXH ZUHQFK
7LJKWHQLQJ WRUTXHV 0$
7KUHDG :LWKRXW WRUVLRQ SURWHFWLRQ :LWK WRUVLRQ SURWHFWLRQ

0$ 1P 0$ 1P
0
0
0 [
0
0 [
0
0 [
0
0 [
0
0 [
0
0 [
0
0 [
0
0 [
0
0 [
0
0 [
0
3URWHFW VKDQN DJDLQVW WRUVLRQ ZKHQ WLJKWHQLQJ
(
*HQHUDO 6HFWLRQ $
7LJKWHQLQJ WRUTXHV IRU SOXJV SUHVFULEHG LQ VWDQGDUG 071
7KLV VWDQGDUG DSSOLHV WR SOXJV DV SHU ',1 ',1 DQG ',1 ZLWK VFUHZHG SOXJ ',1 PRGHO $
VHDOHG E\ VHDOLQJ ULQJ ',1 &X
',1 ',1 ',1 $&
7LJKWHQLQJ WRUTXHV 0$ DUH JLYHQ IRU SOXJV PDGH RI VWHHO 6W ZLWK VXUIDFH SURWHFWHG E\ D SKRVSKDWH FRDWLQJ DQG
RLOHG RU JDOYDQLVHG
7KUHDG DQG PDWLQJ IDFHV EHQHDWK KHDGV PXVW EH FRDWHG LQ HQJLQH RLO SULRU WR DVVHPEO\
LQJ DVVHPEO\
7LJKWHQLQJ WRUTXHV IRU SOXJV ',1 ',1 DQG ',1 $
ZLWK VKRUW VFUHZHG SOXJ
7KUHDG LQVHUWHG LQ
VWHHOJUD\ FDVW LURQ $ODOOR\
0$ 1P 0$ 1P
0 [
0 [
0 [
0 [
0 [
0 [
0 [
0 [
0 [
0 [
0 [
0 [
0 [
0 [
0 [
0 [
0 [
0 [
0 [
0 [
0 [
(
6HFWLRQ $ *HQHUDO
7LJKWHQLQJ WRUTXHV IRU SOXJV DV SHU ',1 & ZLWK ORQJ VFUHZHG SOXJ
7KUHDG LQVHUWHG LQ
VWHHOJUD\ FDVW LURQ $ODOOR\
0$ 1P 0$ 1P
0 [
0 [
0 [
0 [
0 [
0 [
(
*HQHUDO 6HFWLRQ $
7LJKWHQLQJ WRUTXHV IRU EDQMR VFUHZV DV SHU 071 VWDQGDUG
7KLV VWDQGDUG DSSOLHV WR EDQMR VFUHZV DV SHU 001 DQG 1 VHDOHG ZLWK VHDOLQJ ULQJ ',1 &X
001 IORZ KROHV 1 IORZ KROHV
7LJKWHQLQJ WRUTXHV 0$ DUH JLYHQ IRU EDQMR VFUHZV PDGH RI VWHHO 6W ZLWK VXUIDFH SURWHFWHG E\ D SKRVSKDWH FRDWLQJ
DQG RLOHG RU JDOYDQLVHG DQG IRU EDQMR VFUHZV PDGH RI FRSSHUDOOXPLQLXP DOOR\V
LQJ DVVHPEO\
7LJKWHQLQJ WRUTXHV IRU EDQMR VFUHZV PDGH RI VWHHO
7KUHDG LQVHUWHG LQ
VWHHOJUD\ FDVW LURQ$ODOOR\
0$ 1P
0 [
0 [
0 [
0 [
0 [
0 [
0 [
0 [
0 [
0 [
0 [
7LJKWHQLQJ WRUTXHV IRU EDQMR VFUHZV PDGH RI FRSSHUDOXPLQLXP DOOR\V
7KUHDG LQVHUWHG LQ
VWHHOJUD\ FDVW LURQ$ODOOR\
0$ 1P
0 [
0 [
(
6HFWLRQ $ *HQHUDO
7LJKWHQLQJ WRUTXHV IRU PDOH FRQQHFWRU DV SHU 071 VWDQGDUG
7KLV VWDQGDUG DSSOLHV WR PDOH FRQQHFWRUV ',1 URZ / ZLWK VFUHZHG SOXJ ',1 PRGHO $
6HDOHG E\ VHDOLQJ ULQJ ',1 &X
',1 PRGHO &
7LJKWHQLQJ WRUTXHV 0$ DUH JLYHQ IRU PDOH FRQQHFWRUV PDGH RI VWHHO 6W ZLWK VXUIDFH SURWHFWHG E\ D SKRVSKDWH
FRDWLQJ DQG RLOHG RU JDOYDQLVHG
LQJ DVVHPEO\
7KUHDG LQVHUWHG LQ
VWHHOJUD\ FDVW LURQ
0$ 1P
0 [
0 [
0 [
0 [
0 [
0 [
0 [
0 [
0 [
0 [
(
*HQHUDO 6HFWLRQ $
6HWWLQJV *URXS
3DJH
$ 6HWWLQJV
)LULQJ RUGHU
9 $ % $ % $ % $ % $ % $ %
9 $ % $ $ % % $ $ % $ % % $ $ % %
'LUHFWLRQ RI URWDWLRQ DV YLHZHG IURP GULYLQJ HQG
&UDQNVKDIW FRXQWHUFORFNZLVH
&DPVKDIW FORFNZLVH
)XHO 3XPS FRXQWHUFORFNZLVH
2LO SXPS FRXQWHUFORFNZLVH
(QJLQH FRRODQW SXPS FRXQWHUFORFNZLVH
9DOYH FOHDUDQFH HQJLQH FROG &
,QOHW PP
([KDXVW PP
9DOYH WLPLQJ YDOYH FOHDUDQFH DGMXVWHG
&UDQN DQJOH
,QOHW YDOYH RSHQV EHIRUH 7'&
,QOHW YDOYH FORVHV DIWHU %'&
([KDXVW YDOYH RSHQV EHIRUH %'&
([KDXVW YDOYH FORVHV DIWHU 7'&
2YHUODS
6WDUW RI GHOLYHU\ 0DS EDVHG
, 7RS GHDG FHQWUH 7'&

,, %RWWRP GHDG FHQWUH %'&
)XHO LQMHFWLRQ SUHVVXUH
6HWWLQJ SUHVVXUH ZLWK QHZ VSULQJ WR EDU

0LQLPXP SUHVVXUH ZLWK UXQLQ VSULQJ EDU
&DP DQG YDOYH OLIW IRU FDPVKDIW DGMXVWPHQW
,QOHW ([KDXVW
&DP OLIW DW 7'& PP PP
9DOYH OLIW DW 7'& ]HUR YDOYH FOHDUDQFH PP PP
(
6HFWLRQ $ *HQHUDO
*URXS 6HWWLQJV
3DJH
(
General Section A
Hazards in Working Areas Group 005
Page 1
A 005 Hazards in Working Areas
ÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁÁ
These Safety Instructions must be read and followed by any persons operating, carrying
out maintenance or repairs on the machinery plant.
General Safety and Accident Prevention Regulations
In addition to the instructions in this publication, general safety and accident prevention regulations and laws
must be taken into consideration; these may vary from country to country.
This MTU engine is a state-of-the-art product and conforms with all the applicable specifications and regula-
tions. Nevertheless, persons and property may be at risk in the event of:
– Incorrect use
– Servicing, maintenance and repair carried out by untrained members of staff
– Modifications or conversions
– Noncompliance with the Safety Instructions
Correct Use
The engine is to be used solely for the purpose stated in the contract. Any other use is considered improper use.
The manufacturer will accept no liability for any resultant damage. The responsibility is borne by the user alone.
Correct use also includes observation of the Operating Instructions and Maintenance Manual and compliance
with maintenance and repair instructions.
Personnel Requirements
Work on the engine must be carried out only by reliable personnel. The specified legal minimum age must be
respected.
Only fully trained or qualified personnel must be employed. Responsibilities of the operating, maintenance and
repair personnel must be specified.
Modifications or Conversions
Modifications made by the customer to the engine may affect safety. No modifications or conversions must be
implemented without prior consent from DDC or MTU.
We cannot accept liability for any damage resulting from unauthorised alterations made to the engine.
Organisational Measures
This Operation Manual must be made available to maintenance and servicing personnel.
The personnel must be instructed on engine operation and repair by means of the Operation Manual, and in
particular the safety instructions must be explained. This is especially important for personnel who work on the
engine only on an occasional basis.
Note: This copy is only subject to the Amendment Service if the acknowledgement of receipt card has
been returned to MTU. This also applies to in-house use by MTU personnel.
Spare Parts
Spare parts must at least satisfy the requirements specified by the manufacturer. This is guaranteed when orig-
inal components are used.
Working Clothes and Protective Equipment
Always wear protective shoes when working on plant.
Select appropriate goggles for the work to be carried out. Always wear protective goggles when working with
mallets, cutting tools, drift punches and similar tools.
Work clothing must be tight-fitting so that it does not catch on rotating or projecting components. Do not wear
jewellery (e.g. rings, chains, etc.).
20084/0 E 97–07
6HFWLRQ $ *HQHUDO
*URXS +D]DUGV LQ :RUNLQJ $UHDV
3DJH
:HOGLQJ 2SHUDWLRQV
- 1HYHU XVH WKH HQJLQH DV D JURXQG WHUPLQDO 7KLV SUHYHQWV WKH ZHOGLQJ FXUUHQW IURP SDVVLQJ WKURXJK WKH HQ
JLQH UHVXOWLQJ LQ EXUQW RU VFRUFKHG SRLQWV RQ WKH EHDULQJV IULFWLRQ VXUIDFHV DQG WRRWK IODQNV ZKLFK FDQ OHDG WR
EHDULQJ VFRUFKLQJ DQGRU PDWHULDO GDPDJH
- :HOGLQJ RSHUDWLRQV RQ WKH HQJLQH RU PRXQWHG XQLWV DUH QRW SHUPLWWHG
- 1HYHU OD\ WKH ZHOGLQJ FDEOH RYHU RU QHDU WKH FDEOH KDUQHVVHV RI WKH ''&078 SODQWV 7KH ZHOGLQJ FXUUHQW
FRXOG EH LQGXFHG LQ WKH FDEOH KDUQHVVHV ZKLFK FRXOG SRVVLEO\ GDPDJH WKH HOHFWULFDO SODQW
- 7KH JURXQG WHUPLQDO RI WKH ZHOGLQJ XQLW PXVW EH FRQQHFWHG WR WKH ZHOGLQJ SRLQW DW D GLVWDQFH QR JUHDWHU WKDQ
FP
- ,I ZHOGLQJ PXVW EH FDUULHG RXW RQ FRPSRQHQWV HJ H[KDXVW SLSH WKHVH FRPSRQHQWV PXVW EH UHPRYHG IURP WKH
HQJLQH EHIRUHKDQG
- 2Q WKH ''&078 HOHFWURQLFV V\VWHP LW LV QRW QHFHVVDU\ WR UHPRYH WKH FRQQHFWRU DQG FRQQHFWLRQV WR FDUU\ RXW
ZHOGLQJ RSHUDWLRQV LI WKH PDVWHU VZLWFK RI WKH SRZHU VXSSO\ LV VZLWFKHG IURP ´2Qµ WR ´2IIµ DQG WKH FDEOH KDV
EHHQ GLVFRQQHFWHG IURP WKH QHJDWLYH DQG SRVLWLYH SROHV RQ WKH EDWWHU\
- 'XULQJ ZHOGLQJ RSHUDWLRQV DOZD\V ZHDU ZHOGLQJ JORYHV KHDGJHDUJRJJOHV SURWHFWLYH DSURQV DQG RWKHU VXLWDEOH
SURWHFWLYH FORWKLQJ
7UDQVSRUW
- /LIW WKH HQJLQH RQO\ ZLWK WKH OLIWLQJ H\HV SURYLGHG
- 8VH RQO\ WKH WUDQVSRUW DQG OLIWLQJ HTXLSPHQW DSSURYHG E\ ''&078
- 7KH HQJLQH PXVW RQO\ EH WUDQVSRUWHG LQ LQVWDOODWLRQ SRVLWLRQ
(QJLQH 2SHUDWLRQ
- :KHQ WKH HQJLQH LV UXQQLQJ HDU SURWHFWRUV PXVW DOZD\V EH ZRUQ LQ WKH HQJLQH URRP
- 7KH HQJLQH URRP PXVW EH ZHOO YHQWLODWHG
- 7R DYRLG LQMXULHV FDXVHG E\ IDOOLQJ OHDNHG RU VSLOW HQJLQH RLO DQG FRRODQW PXVW EH FOHDQHG XS LPPHGLDWHO\ RU DE
VRUEHG ZLWK DSSURSULDWH ERQGLQJ DJHQWV
- ([KDXVW JDVHV IURP FRPEXVWLRQ HQJLQHV DUH SRLVRQRXV DQG LQMXULRXV WR KHDOWK LI LQKDOHG 7KH H[KDXVW SLSHZRUN
PXVW EH OHDNIUHH DQG GLVFKDUJH H[KDXVW JDVHV WR DWPRVSKHUH
- 'XULQJ HQJLQH RSHUDWLRQ GR QRW WRXFK EDWWHU\ WHUPLQDOV JHQHUDWRU WHUPLQDOV RU FDEOHV ,QDGHTXDWH SURWHFWLRQ RI
HOHFWULFDO FRPSRQHQWV FDQ OHDG WR HOHFWULF VKRFNV DQG VHULRXV LQMXULHV
- 1HYHU GLVFRQQHFW FRRODQW RLO IXHO FRPSUHVVHG DLU RU K\GUDXOLF OLQHV ZKLOH WKH HQJLQH LV UXQQLQJ
0DLQWHQDQFH DQG 5HSDLU
- &RPSOLDQFH ZLWK PDLQWHQDQFH VSHFLILFDWLRQV LV DQ LPSRUWDQW VDIHW\ IDFWRU
- 8QOHVV H[SUHVVO\ SHUPLWWHG QR PDLQWHQDQFH RU UHSDLU ZRUN PXVW EH FDUULHG RXW ZLWK WKH HQJLQH UXQQLQJ 7KH
HQJLQH PXVW EH VHFXUHG DJDLQVW LQDGYHUWHQW VWDUWLQJ DQG WKH EDWWHU\ GLVFRQQHFWHG $WWDFK VLJQ ´'R QRW RSHUDWHµ
LQ RSHUDWLQJ DUHD RU WR FRQWURO HTXLSPHQW 3HUVRQV QRW LQYROYHG PXVW NHHS FOHDU
- 1HYHU DWWHPSW WR UHFWLI\ IDXOWV RU FDUU\ RXW UHSDLUV LI \RX GR QRW KDYH WKH QHFHVVDU\ H[SHULHQFH RU VSHFLDO WRROV
UHTXLUHG 0DLQWHQDQFH ZRUN PXVW RQO\ EH FDUULHG RXW E\ DXWKRULVHG TXDOLILHG SHUVRQQHO
- 8VH RQO\ WRROV LQ SHUIHFW FRQGLWLRQ
- 'R QRW ZRUN RQ HQJLQHV RU FRPSRQHQWV ZKLFK DUH RQO\ KHOG E\ OLIWLQJ HTXLSPHQW RU FUDQH $OZD\V VXSSRUW WKHVH
FRPSRQHQWV RQ VXLWDEOH IUDPHV RU VWDQGV EHIRUH EHJLQQLQJ DQ\ PDLQWHQDQFH RU UHSDLU ZRUN
- %HIRUH EDUULQJ WKH HQJLQH HQVXUH WKDW QRERG\ LV ZLWKLQ WKH GDQJHU DUHD $IWHU ZRUNLQJ RQ WKH HQJLQH FKHFN WKDW
DOO JXDUGV KDYH EHHQ UHLQVWDOOHG DQG WKDW DOO WRROV DQG ORRVH FRPSRQHQWV KDYH EHHQ UHPRYHG IURP WKH HQJLQH
- )OXLGV HPHUJLQJ XQGHU KLJK SUHVVXUH FDQ SHQHWUDWH FORWKLQJ DQG VNLQ DQG PD\ FDXVH VHULRXV LQMXU\ %HIRUH VWDUW
LQJ ZRUN UHOLHYH SUHVVXUH LQ V\VWHPV DQG +3 OLQHV ZKLFK DUH WR EH RSHQHG
- 1HYHU EHQG D IXHO OLQH DQG GR QRW LQVWDOO EHQW OLQHV .HHS IXHO LQMHFWLRQ OLQHV DQG FRQQHFWLRQV FOHDQ $OZD\V VHDO
FRQQHFWLRQV ZLWK FDSV RU FRYHUV LI D OLQH LV UHPRYHG RU RSHQHG
(
*HQHUDO 6HFWLRQ $
+D]DUGV LQ :RUNLQJ $UHDV *URXS
3DJH
- 'XULQJ PDLQWHQDQFH RU UHSDLU ZRUN GR QRW KLW IXHO OLQHV ZLWK ZUHQFKHV RU RWKHU WRROV 7R WLJKWHQ FRQQHFWLRQV
ZKHQ LQVWDOOLQJ OLQHV XVH WKH FRUUHFW WLJKWHQLQJ WRUTXH DQG HQVXUH WKDW DOO UHWDLQHUV DQG GDPSHUV DUH LQVWDOOHG
FRUUHFWO\
- (QVXUH WKDW DOO IXHO LQMHFWLRQ OLQHV DQG FRPSUHVVHG RLO OLQHV KDYH VXIILFLHQW SOD\ WR DYRLG FRQWDFW ZLWK RWKHU FRP
SRQHQWV 'R QRW SODFH IXHO RU RLO OLQHV QHDU KRW FRPSRQHQWV
- 7KH +3 OLQHV IRU K\GUDXOLF LQVWDOODWLRQ DQG UHPRYDO DUH WHVWHG ZLWK EDU
- 'R QRW EHQG OLQHV XQGHU SUHVVXUH RU XVH IRUFH
- ,Q RUGHU WR DYRLG EXUQLQJ WDNH VSHFLDO FDUH ZKHQ SODFLQJ KRW FRPSRQHQWV RQ SURGXFWV ZKHQ ZRUNLQJ ZLWK KRW
OLTXLGV LQ SLSHOLQHV SLSHV DQG FKDPEHUV
- 8QWLO WKH HQJLQH KDV FRROHG WKH EUHDWKHU FDS PXVW QRW EH RSHQHG 5HOHDVH WKH EUHDWKHU FDS DQG DOORZ SUHVVXUH
WR HVFDSH EHIRUH UHPRYLQJ WKH FDS
- 7DNH VSHFLDO FDUH ZKHQ UHPRYLQJ YHQWLODWLRQ RU SOXJV IURP HQJLQH ,Q RUGHU WR DYRLG EHLQJ VSUD\HG ZLWK KLJKO\
SUHVVXULVHG OLTXLGV KROG D FORWK RYHU WKH VFUHZ RU SOXJ ,W LV HYHQ PRUH GDQJHURXV LI WKH HQJLQH KDV UHFHQWO\
EHHQ VKXW GRZQ DV WKH OLTXLGV PD\ VWLOO EH KRW
- 7DNH VSHFLDO FDUH ZKHQ GUDLQLQJ KRW IOXLGV ULVN RI LQMXU\ 'UDLQ WKH IOXLGV LQWR D VXLWDEOH FRQWDLQHU DQG ZLSH XS
DQ\ VSLOODJHV
- :KHQ FKDQJLQJ HQJLQH RLO RU ZRUNLQJ RQ WKH IXHO V\VWHP HQVXUH WKDW WKH HQJLQH URRP LV DGHTXDWHO\ YHQWLODWHG
- :KHQ ZRUNLQJ KLJK RQ WKH HQJLQH DOZD\V XVH VXLWDEOH ODGGHUV DQG ZRUN SODWIRUPV 0DNH VXUH FRPSRQHQWV DUH
SODFHG RQ VWDEOH VXUIDFHV
- 7R DYRLG GDPDJLQJ \RXU EDFN ZKHQ OLIWLQJ FRPSRQHQWV ZHLJKLQJ NJ OE RU PRUH XVH OLIWLQJ JHDU RU UH
TXHVW DLG IURP RWKHU ZRUNHUV (QVXUH WKDW DOO FKDLQV KRRNV VOLQJV HWF DUH LQ JRRG FRQGLWLRQ DUH VXIILFLHQWO\
VWURQJ DQG WKDW KRRNV DUH FRUUHFWO\ SRVLWLRQHG /LIWLQJ H\HV PXVW QRW EH XQHYHQO\ ORDGHG
- :KHQ RSHUDWLQJ HOHFWULFDO HTXLSPHQW FHUWDLQ FRPSRQHQWV RI WKLV HTXLSPHQW DUH OLYH
- 1RQFRPSOLDQFH ZLWK ZDUQLQJ QRWLFHV FRXOG UHVXOW LQ VHULRXV SK\VLFDO LQMXU\ RU GDPDJH WR SURSHUW\
- :RUN PXVW EH FDUULHG RXW RQO\ E\ TXDOLILHG SHUVRQQHO 3ULRU WR ZRUNLQJ RQ HOHFWULFDO HTXLSPHQW VZLWFK RII OLYH
XQLWV
- *DVHV UHOHDVHG IURP WKH EDWWHU\ DUH H[SORVLYH $YRLG VSDUNV DQG QDNHG IODPHV 'R QRW DOORZ EDWWHU\ DFLGV WR
FRPH LQWR FRQWDFW ZLWK VNLQ RU FORWKLQJ :HDU SURWHFWLYH JRJJOHV 'R QRW SODFH WRROV RQ WKH EDWWHU\ %HIRUH FRQ
QHFWLQJ WKH FDEOH WR WKH EDWWHU\ FKHFN EDWWHU\ SRODULW\ %DWWHU\ SROH UHYHUVDO PD\ OHDG WR LQMXU\ WKURXJK WKH
VXGGHQ GLVFKDUJH RI DFLG RU EXUVWLQJ RI WKH EDWWHU\ ERG\
- 'R QRW GDPDJH ZLULQJ GXULQJ UHPRYDO ZRUN DQG ZKHQ UHLQVWDOOLQJ ZLULQJ DQG HQVXUH WKDW GXULQJ RSHUDWLRQ LW LV
QRW GDPDJHG E\ FRQWDFW ZLWK VKDUS REMHFWV E\ UXEELQJ DJDLQVW DQRWKHU FRPSRQHQW RU E\ D KRW VXUIDFH 1HYHU
FRQQHFW ZLULQJ WR D OLQH ZKLFK FDUULHV OLTXLG
- 2Q FRPSOHWLRQ RI WKH PDLQWHQDQFH DQG UHSDLU ZRUN DQ\ FDEOHV ZKLFK KDYH EHFRPH ORRVH PXVW EH FRUUHFWO\ VH
FXUHG
- $OZD\V WLJKWHQ FRQQHFWRUV ZLWK FRQQHFWRU SOLHUV
- ,I FDEOHV DUH SUHVHQW DW PHFKDQLFDO FRPSRQHQWV DQG WKHUH LV D ULVN RI ZHDU WKH FDEOHV PXVW EH UHWDLQHG LQ FDEOH
FODPSV
- )RU WKLV SXUSRVH QR FDEOH VWUDSV PXVW EH XVHG DV GXULQJ PDLQWHQDQFH DQGRU UHSDLU ZRUN WKH VWUDSV FDQ EH
UHPRYHG EXW QRW LQVWDOOHG D VHFRQG WLPH
- &KHFN VHFXULW\ RI DOO SOXJLQ FRQQHFWLRQV
- ,W LV QRW VXIILFLHQW WR WLJKWHQ WKH FRQQHFWLRQV E\ KDQG ZLWK D ED\RQHW XQLRQ 7KHUH LV WKH ULVN RI WKH ORFN QRW HQ
JDJLQJ SURSHUO\ DQG WKH FRQQHFWRU FRPLQJ ORRVH GXULQJ HQJLQH RSHUDWLRQ 7KHUHIRUH SOLHUV PXVW EH XVHG IRU
WXUQLQJ WKH ED\RQHW XQLRQ QXW LQ FORFNZLVH GLUHFWLRQ
(
6HFWLRQ $ *HQHUDO
3DJH
)LUH 3UHYHQWLRQ
- 5HFWLI\ DQ\ IXHO RU RLO OHDNV LPPHGLDWHO\ HYHQ VSODVKHV RI RLO RU IXHO RQ KRW FRPSRQHQWV FDQ FDXVH ILUHV WKHUH
IRUH DOZD\V NHHS WKH HQJLQH LQ D FOHDQ FRQGLWLRQ 'R QRW OHDYH RLOVRDNHG FORWKV RQ WKH HQJLQH 'R QRW VWRUH
FRPEXVWLEOH IOXLGV QHDU WKH HQJLQH 'R QRW DOORZ GLUW RU IRUHLJQ PDWWHU WR DFFXPXODWH QHDU WKH HQJLQH DV WKLV
FRQVWLWXWHV D ILUH KD]DUG
- :HOGLQJ ZRUN PXVW QRW EH FDUULHG RXW RQ SLSHV DQG FRPSRQHQWV FRQWDLQLQJ RLO %HIRUH ZHOGLQJ FOHDQ ZLWK D QRQ
FRPEXVWLEOH IOXLG
- 1HYHU PL[ SHWUROJDVROLQH ZLWK GLHVHO IXHO ,I SHWUROJDVROLQH LV DGGHG WR GLHVHO IXHO WKHUH LV LQFUHDVHG ULVN RI ILUH
- :KHQ VWDUWLQJ WKH HQJLQH ZLWK D IRUHLJQ SRZHU VRXUFH FRQQHFW WKH JURXQG OHDG ODVW DQG UHPRYH LW ILUVW 7R DYRLG
VSDUNV LQ WKH YLFLQLW\ RI WKH EDWWHU\ FRQQHFW WKH JURXQG OHDG IURP WKH IRUHLJQ SRZHU VRXUFH WR WKH JURXQG OHDG RI
WKH HQJLQH RU WR WKH JURXQG WHUPLQDO RI WKH VWDUWHU
- $OZD\V NHHS D ILUH H[WLQJXLVKHU DW KDQG DQG OHDUQ KRZ WR RSHUDWH LW
1RLVH
- $OO ZRUN DUHDV ZLWK D VRXQG SUHVVXUH OHYHO LQ H[FHVV RI G% $ PD\ FDXVH KHDULQJ GDPDJH
- $OZD\V XVH FRWWRQ ZRRO RU HDU SOXJV

(QYLURQPHQWDO 3URWHFWLRQ
- 'LVSRVH RI XVHG IOXLGV DQG OXEULFDQWV DQG ILOWHUV LQ DFFRUGDQFH ZLWK ORFDO UHJXODWLRQV
- 0DQLSXODWLRQ RI WKH LQMHFWLRQ RU FRQWURO V\VWHP FDQ LQIOXHQFH WKH HQJLQH SHUIRUPDQFH DQG H[KDXVW HPLVVLRQV $V
D UHVXOW FRPSOLDQFH ZLWK HQYLURQPHQWDO UHJXODWLRQV PD\ QR ORQJHU EH JXDUDQWHHG
6NLQ ,QIHFWLRQV
- 7KH SUHYHQWLYH RLQWPHQWV LVVXHG DUH QRW LQWHQGHG WR WUHDW VNLQ LQIHFWLRQV RQFH WKH\ KDYH RFFXUUHG ,I UDVKHV RI
DQ\ W\SH DSSHDU HYHQ PLQRU RQHV FRQVXOW D GRFWRU
:DUQLQJ 6LJQV
- %HIRUH SXWWLQJ WKH HQJLQH LQWR VHUYLFH DQG EHIRUH ZRUNLQJ RQ WKH HQJLQH UHDG DQG IROORZ DOO ZDUQLQJ VLJQV 'R
QRW SDLQW RQ ZDUQLQJ VLJQV 5HSODFH LOOHJLEOH VLJQV
$X[LOLDU\ 0DWHULDOV
- 8VH RQO\ IOXLGV DQG OXEULFDQWV WKDW KDYH EHHQ WHVWHG DQG DSSURYHG E\ ''& DQGRU 078
- )OXLGV DQG OXEULFDQWV PXVW EH NHSW LQ SURSHUO\ GHVLJQDWHG FRQWDLQHUV :KHQ XVLQJ IOXLGV OXEULFDQWV DQG RWKHU
FKHPLFDO VXEVWDQFHV IROORZ WKH VDIHW\ LQVWUXFWLRQV DSSOLFDEOH WR WKH SURGXFW 7DNH VSHFLDO FDUH ZKHQ XVLQJ KRW
DQG FDXVWLF PDWHULDOV :KHQ XVLQJ LQIODPPDEOH PDWHULDOV DYRLG DOO VSDUNV DQG GR QRW VPRNH
/HDG
- :KHQ ZRUNLQJ ZLWK OHDG RU SDVWHV FRQWDLQLQJ OHDG HQVXUH WKDW QR OHDG HYHQ LQ PLQXWH TXDQWLWLHV LV DEVRUEHG
E\ WKH ERG\ OHDG GXVW OHDG VPRNH GLUWLHG KDQGV
3UHYHQW WKH EXLOGXS RI OHDG GXVW
6ZLWFK RQ H[WUDFWLRQ V\VWHP
:DVK KDQGV EHIRUH HDWLQJ DQ\ IRRG
(
*HQHUDO 6HFWLRQ $
+D]DUGV LQ :RUNLQJ $UHDV *URXS
3DJH
&KORULQDWHG K\GURFDUERQV
- :KHQ ZRUNLQJ ZLWK FKORULQDWHG K\GURFDUERQV HJ WHWUDFKORURHWK\OHQH WULFKORURHWKDQH RU RWKHU FROG FOHDQHUV
ZKLFK UHTXLUH ZDUQLQJ V\PEROV WKHUH LV WKH ULVN RI LQKDOLQJ KDUPIXO IXPHV
6ZLWFK RQ YHQWLODWLRQ V\VWHPV
2EVHUYH ILUH SUHYHQWLRQ UHJXODWLRQV
'R QRW VPRNH RU GULQN DOFRKRO
'R QRW DOORZ FKORULQDWHG K\GURFDUERQV WR FRPH LQWR FRQWDFW ZLWK VHZDJH ZDWHU
$FLGV DQG DONDOLQH VROXWLRQV
- :KHQ ZRUNLQJ ZLWK DFLGV DQG DONDOLQH VROXWLRQV DOZD\V ZHDU SURWHFWLYH JRJJOHVIDFH JXDUG JORYHV DQG SURWHF
WLYH FORWKLQJ
,I VXFK VROXWLRQV DUH VSLOOHG RQWR FORWKLQJ UHPRYH WKH DIIHFWHG FORWKLQJ LPPHGLDWHO\
5LQVH LQMXUHG SDUWV RI WKH ERG\ WKRURXJKO\ ZLWK FOHDQ ZDWHU
5LQVH H\HV LPPHGLDWHO\ ZLWK H\HGURSV RU FOHDQ WDS ZDWHU
3DLQWLQJ
- :KHQ FDUU\LQJ RXW SDLQWLQJ ZRUN RXWVLGH WKH VSUD\ VWDQGV SURYLGHG ZLWK IXPH H[WUDFWLRQ V\VWHPV HQVXUH WKDW
WKH DUHD LV ZHOO YHQWLODWHG 0DNH VXUH WKDW DGMDFHQW ZRUN DUHDV DUH QRW DIIHFWHG
,W LV DEVROXWHO\ HVVHQWLDO WR ZHDU PDVNV SURYLGLQJ SURWHFWLRQ DJDLQVW SDLQW DQG VROYHQW IXPHV
2EVHUYH ILUH SUHYHQWLRQ UHJXODWLRQV
1R VPRNLQJ
1R QDNHG IODPHV
/LTXLG R[\JHQ
- /LTXLG R[\JHQ LV KLJKO\ IODPPDEOH
- /LTXLG R[\JHQ VKRXOG RQO\ EH VWRUHG LQ VPDOO TXDQWLWLHV DQG LQ UHJXODWLRQ FRQWDLQHUV ZLWKRXW IL[HG VHDO 'R QRW
EULQJ OLTXLG R[\JHQ LQWR FRQWDFW ZLWK WKH ERG\ KDQGV DV WKLV FDXVHV IURVWELWH DQG SRVVLEO\ WKH ORVV RI WLVVXH
1R VPRNLQJ QR QDNHG IODPHV ULVN RI H[SORVLRQ ([FHVVLYH R[\JHQ LQ WKH DLU OHDGV WR H[SORVLYH FRPEXVWLRQ
'R QRW VWRUH DQ\ LQIODPPDEOH VXEVWDQFHV HJ RLOV DQG JUHDVHV ZLWKLQ P RI WKH DUHD RI ZRUN
8QGHU QR FLUFXPVWDQFHV VKRXOG FORWKLQJ EH RLO\ RU JUHDV\
0DNH VXUH WKDW IXPHV GR QRW DFFXPXODWH LQ FORWKLQJ 2[\JHQ HQULFKPHQW LQ IDEULF FDQ FDXVH ZRUNLQJ FORWKHV WR LJQLWH
VXGGHQO\
2Q FRPSOHWLRQ RI ZRUN GR QRW VPRNH XQWLO FORWKLQJ LV FRPSOHWHO\ IUHH RI IXPHV
$YRLG NQRFNV RU LPSDFWV GXULQJ WKLV ZRUN
/LTXLG QLWURJHQ
- 6WRUH OLTXLG QLWURJHQ RQO\ LQ VPDOO TXDQWLWLHV DQG DOZD\V LQ UHJXODWLRQ FRQWDLQHUV ZLWKRXW IL[HG FRYHUV
- 'R QRW EULQJ OLTXLG QLWURJHQ LQWR FRQWDFW ZLWK WKH ERG\ H\HV KDQGV 7KLV FRXOG FDXVH IURVWELWH DQG SRVVLEO\ WKH
ORVV RI WLVVXH
:HDU SURWHFWLYH FORWKLQJ LQFOXGLQJ JORYHV DQG FORVHG VKRHV DQG JRJJOHV
(QVXUH WKH URRP LV ZHOO YHQWLODWHG FRQWDPLQDWLRQ RI EUHDWKLQJ ZLWK QLWURJHQ ZLOO UHVXOW LQ VXIIRFDWLRQ
7DNH JUHDW FDUH QRW WR VXEMHFW FRQWDLQHUV ILWWLQJV DQG WRROV WR LPSDFW RU VKRFN
&RPSUHVVHG DLU
- &RPSUHVVHG DLU LV FRPSUHVVHG SUHVVXULVHG DLU DQG LV VWRUHG LQ SUHVVXUH YHVVHOV IURP ZKLFK WKH FRPSUHVVHG DLU
LV WKHQ H[WUDFWHG
- 7KH FRPSUHVVHG DLU SUHVVXUH FDQ EH UHDG RII DW WKH SUHVVXUH LQGLFDWRU SUHVVXUH JDXJH WKH SUHVVXUH YHVVHOV
DQG FRPSUHVVHG DLU OLQHV PXVW DOVR EH DW WKLV SUHVVXUH
- +LJK SUHVVXUH LV KDUPIXO WR WKH KXPDQ ERG\ HVSHFLDOO\ LI DSSOLHG VXGGHQO\
(
6HFWLRQ $ *HQHUDO
3DJH
- :KHQ ZRUNLQJ ZLWK FRPSUHVVHG DLU VDIHW\ SUHFDXWLRQV PXVW EH FRQVWDQWO\ REVHUYHG
3D\ VSHFLDO DWWHQWLRQ WR WKH SUHVVXUH OHYHO LQ WKH FRPSUHVVHG DLU QHWZRUN DQG SUHVVXUH YHVVHO
&RQQHFWLQJ GHYLFHV DQG HTXLSPHQW PXVW HLWKHU EH GHVLJQHG IRU WKLV SUHVVXUH RU LI WKH SHUPLWWHG SUHVVXUH IRU WKH
FRQQHFWLQJ HOHPHQWV LV ORZHU WKDQ WKH SUHVVXUH UHTXLUHG D SUHVVXUH UHGXFLQJ YDOYH DQG VDIHW\ YDOYH VHW WR SHU
PLWWHG SUHVVXUH PXVW IRUP DQ LQWHUPHGLDWH FRQQHFWLRQ +RVH FRXSOLQJ DQG FRQQHFWLRQV PXVW EH VHFXUHO\ DWWDFKHG
$OZD\V ZHDU SURWHFWLYH JRJJOHV ZKHQ EORZLQJ RII WRROV RU H[WUDFWLQJ FKLSV
7KH VQRXW RI WKH DLU QR]]OH LV SURYLGHG ZLWK D SURWHFWLYH GLVF HJ UXEEHU GLVF ZKLFK SUHYHQWV DLUERUQH SDUWLFOHV
EHLQJ UHIOHFWHG DQG WKHUHE\ SUHYHQWV GDPDJH WR WKH H\HV
)LUVW VKXW RII FRPSUHVVHG DLU OLQHV EHIRUH FRPSUHVVHG DLU HTXLSPHQW LV GLVFRQQHFWHG IURP WKH VXSSO\ OLQH RU EHIRUH
HTXLSPHQW RU WRRO LV WR EH UHSODFHG
8QDXWKRULVHG XVH RI FRPSUHVVHG DLU HJ IRUFLQJ IODPPDEOH OLTXLGV GDQJHU FODVV $, $,, DQG % RXW RI FRQWDLQHUV
UHVXOWV LQ D ´5LVN RI H[SORVLRQµ
)RUFLQJ FRPSUHVVHG DLU LQWR WKLQZDOOHG FRQWDLQHUV HJ FRQWDLQHUV PDGH RI WLQ SODVWLF DQG JODVV IRU GU\LQJ SXU
SRVHV RU WR FKHFN IRU OHDNV UHVXOWV LQ D ´5LVN RI H[SORVLRQµ
5HPRYLQJ GLUW RQ VRLOHG FORWKHV ZKLOH VWLOO ZRUQ FDQ UHVXOW LQ D ´5LVN RI LQMXU\µ
(YHQ FRPSUHVVHG DLU DW D ORZ SUHVVXUH SHQHWUDWHV FORWKLQJ DQG LI WKH MHW LV GLUHFWHG DW WKH EDFN WKH DLU FDQ HQWHU
WKH DQDO FDYLW\ DQG IDWDOO\ UXSWXUH WKH LQWHVWLQHV
8VHG RLOV
- 8VHG RLOV PD\ FRQWDLQ FRPEXVWLRQ UHVLGXH ZKLFK LV KDUPIXO WR KHDOWK
5XE EDUULHU FUHDP LQWR KDQGV

:DVK KDQGV LQ XVXDO ZD\ DIWHU FRQWDFW ZLWK XVHG RLO
:DUQLQJ QRWLFHV
- 6HFWLRQ ´&µ RI WKLV 3XEOLFDWLRQ FRQWDLQV HVSHFLDOO\ HPSKDVLVHG VDIHW\ LQVWUXFWLRQV LQ DFFRUGDQFH ZLWK WKH $PHUL
FDQ VWDQGDUG $16, = ZKLFK EHJLQ ZLWK RQH RI WKH IROORZLQJ VLJQDO ZRUGV DFFRUGLQJ WR WKH GHJUHH RI GDQJHU
%H HVSHFLDOO\ FDUHIXO LQ WKHVH FDVHV
5HDG DQG EHFRPH DFTXDLQWHG ZLWK DOO ZDUQLQJ QRWLFHV DQG V\PEROV EHIRUH RSHUDWLQJ RU UHSDLULQJ WKLV SURGXFW
,QIRUP RSHUDWLQJ DQG PDLQWHQDQFH SHUVRQQHO RQ DOO 6DIHW\ ,QVWUXFWLRQV
'$1*(5
$Q LQVWUXFWLRQ RI WKLV W\SH GUDZV DWWHQWLRQ WR DQ
LPSHQGLQJ GDQJHU ZKLFK LI LJQRUHG PD\ OHDG WR
LQMXU\ RU GHDWK
:$51,1*
$Q LQVWUXFWLRQ RI WKLV W\SH GUDZV DWWHQWLRQ WR D
SRVVLEOH GDQJHU ZKLFK LI LJQRUHG PD\ OHDG WR
LQMXU\ RU GHDWK
&$87,21
$Q LQVWUXFWLRQ RI WKLV W\SH GUDZV DWWHQWLRQ
WR D GDQJHU ZKLFK LI LJQRUHG PD\ OHDG WR
VOLJKW LQMXU\
(
*HQHUDO 6HFWLRQ $
'DWD 6KHHWV *URXS
3DJH
$ 'DWD 6KHHWV

7R HQVXUH WKDW XQXVDEOH FRPSRQHQWV DUH QRW LQVWDOOHG RU FRPSRQHQWV ZKLFK FDQ VWLOO EH XVHG DUH QRW GLVFDUGHG DOO
LQVSHFWLRQ ZRUN VKRXOG RQO\ EH FDUULHG RXW E\ TXDOLILHG SHUVRQQHO XVLQJ WKH QHFHVVDU\ PHDVXULQJ LQVWUXPHQWV
$OO PHDVXULQJ DQG WHVWLQJ HTXLSPHQW LV QDWXUDOO\ VXEMHFW WR ZHDU
7R GHWHUPLQH UHVXOWLQJ WROHUDQFH GHYLDWLRQV LQ JRRG WLPH WKH PHDVXULQJ DQG WHVW HTXLSPHQW PXVW EH LQVSHFWHG DQ
QXDOO\ DW D ORFDWLRQ HTXLSSHG ZLWK DSSURSULDWH WHFKQLFDO IDFLOLWLHV
$OWHUQDWLYHO\ DQ LQVSHFWLRQ FDQ DOVR EH FDUULHG RXW E\ RXU SURGXFW VXSSRUW VHUYLFH DQG ''&078 RU E\ DQ H[WHUQDO
SURGXFW VXSSRUW VHUYLFH
2Q QR DFFRXQW FDQ WKH PHDVXUHPHQWV EH EHORZ RU DERYH WKH OLPLW YDOXHV DV VSHFLILHG LQ WKH 7ROHUDQFHV DQG :HDU
/LPLWV /LVW
7KH IROORZLQJ GDWD VKHHWV VKRXOG EH XVHG WR UHFRUG WKH LQGLYLGXDO H[DPLQDWLRQ UHVXOWV
&UDQNFDVH ERUHV l
6LQJOHFRPSRQHQW FUDQNVKDIW EHDULQJ GULYLQJ HQGIUHH HQG
&\OLQGHU OLQHU LQVWDOOHG
&UDQNVKDIW GDWD VKHHW
&UDQNVKDIW EHDULQJ
&RQURG EHDULQJ VKHOOV LQVWDOOHG
&RQWURO WLPHV DQG LQMHFWLRQ WLPLQJ
(
6HFWLRQ $ *HQHUDO
*URXS 'DWD 6KHHWV
3DJH
(
078 7HVW 6KHHW IRU &UDQNFDVH IRU VKHHW 1R
)ULHGULFKVKDIHQ DSSHQGL[ $
'HSDUWPHQW &UDQNFDVH 1RBBBBBBB
463) &DVWLQJ GDWH BBBBBBB
0DWHULDO BBBB 9 BBBBBBBBBBBBBBBBBBBB 2+$8 2UGHU
3DUW 1R BBBBBBBBBBBBBBBBBBB
&\OLQGHU 1R
$ / VLGHBBBBBBBBBBB ,, ,
)LW GLDPHWHU $ ,, ,
7RS % ,, ,
)LW GLDPHWHU $ ,, ,
%RWWRP % ,, ,
5HFHVV GHSWK ,, ,
%DOFRQ\ ,, ,
&\OLQGHU 1R
$ / VLGHBBBBBBBBBBB ,, ,
)LW GLDPHWHU $ ,, ,
7RS % ,, ,
)LW GLDPHWHU $ ,, ,
%RWWRP % ,, ,
5HFHVV GHSWK ,, ,
%DOFRQ\ ,, ,
&\OLQGHU 1R
% 5 VLGHBBBBBBBBBBBB ,, ,
)LW GLDPHWHU $ ,, ,
7RS % ,, ,
)LW GLDPHWHU $ ,, ,
%RWWRP % ,, ,
5HFHVV GHSWK ,, ,
%DOFRQ\ ,, ,
&\OLQGHU 1R
% 5 VLGHBBBBBBBBBBBB ,, ,
)LW GLDPHWHU $ ,, ,
7RS % ,, ,
)LW GLDPHWHU $ ,, ,
%RWWRP % ,, ,
5HFHVV GHSWK ,, ,
%DOFRQ\ ,, ,
5HPDUNV
'DWD VKHHW $GRW

078 7HVW 6KHHW IRU &UDQNFDVH IRU VKHHW 1R
)ULHGULFKVKDIHQ DSSHQGL[ %
'HSDUWPHQW &UDQNFDVH 1RBBBBBBB
463) &DVWLQJ GDWH BBBBBBB
0DWHULDO BBBB 9 BBBBBBBBBBBBBBBBBBBB 2+$8 2UGHU
3DUW 1R BBBBBBBBBBBBBBBBBBB
0DLQ EHDULQJ ERUH GLD &DPVKDIW EHDULQJ GLDPHWHU
%HDU IURQW GLUHFWLRQ UHDU GLUHFWLRQ OHIW VLGH GLUHFWLRQ ULJKW VLGH GLUHFWLRQ
LQJ D F F D F F D E D E
1R
, , , , , , , ,
, , , , , , , ,
, , , , , , , ,
, , , , , , , ,
, , , , , , , ,
, , , , , , , ,
, , , , , , , ,
, , , , , , , ,
, , , , , , , ,
, , , , , , , ,
, , , , , , , ,
, , , , , , , ,
, , , , , , , ,
, , , , , , , ,
, , , , , , , ,
, , , , , , , ,
, , , , , , , ,
, , , , , , , ,
, , , , , , , ,
, , , , , , , ,
, , , , , , , ,
, , , , , , , ,
5HPDUNV
'DWD VKHHW $GRW

$66(0%/< '$7$ 6+((7
2QH3DUW &UDQNVKDIW %HDULQJ
(QJLQH W\SH 1RWH

0HDVXULQJ SRLQW D IRU EHDULQJ
(QJLQH 1R FOHDUDQFH

&UDQNFDVH 1R

2SHUDWLQJ KRXUV

,WHP

6SHFLILHG GLD

0HDVXULQJ SRLQWV
&RPSRQHQW &UDQNVKDIW EHDULQJ D E F F G 0HDQ
GLPHQ
VLRQ
'ULYLQJ HQG
)UHH HQG
5HPDUNV
6SHFLILHG YDOXHV IURP WKH 7ROHUDQFH DQG :HDU /LPLWV /LVW
'DWH ,QVSHFWHG E\

(QJLQH 0RGHO
$VVHPEO\ 'DWD 6KHHW
&\OLQGHU /LQHUV LQVWDOOHG
(QJLQH 1R
&UDQNFDVH 1R

&\O EXVK SDUW 1R
6SHFLILHG GLPHQVLRQ ERUH
7R PHDVXUH ,Q PHDVXULQJ GLUHFWLRQ D GLUHFWLRQ RI WUDYHO DQG E

WUDQVYHUVH
0HDVXULQJ OHYHOV
&\OLQGHU 0HDVXU %DVLF $FWXDO GLPHQVLRQ &\OLQGHU 0HDVXU %DVLF $FWXDO GLPHQVLRQ
1R
1R LQJ GLPHQ 1R
1R LQJ GLPHQ
GLUHFWLRQ VLRQ 0HDVXULQJ OHYHOV GLUHFWLRQ VLRQ 0HDVXULQJ OHYHOV

$ D % D
E E
$ D % D
E E
$ D % D
E E
$ D % D
E E
$ D % D
E E
$ D % D
E E
$ D % D
E E
$ D % D
E E
$ D % D
E E
$ D % D
E E
5HPDUNV
6SHFLILHG GLPHQVLRQV IURP 7ROHUDQFH DQG :HDU /LPLWV /LVW
'DWH ,QVSHFWHG E\
'
.85%(/:(//(1.(11%/$77 0RGHO
&5$1.6+$)7 '$7$ 6+((7 0RGHO
6DFK1U :HOOHQ1U
,WHP 1R 6KDIW 1R
=HLFKQXQJV1U $EQDKPH
'UDZLQJ 1R &ODVVLILFDWLRQ
0HVWHOOH 0HDVXULQJ 3RLQW
+XEODJHU
&UDQNSLQ 'LD
*UXQGODJHU
0DLQ -RXUQDO 'LD
$QODXIEXQG gOERKUXQJHQ HLQZDQGIUHL JHUHLQLJW XQG YHUUXQGHW

7KUXVW FROODU 2LO GXFWV WKRURXJKO\ FOHDQHG DQG HGJHV VPRRWKHG
5XQGODXI 6lPWOLFKH +RKONHKOHQ XQG $QVHQNXQJHQ QDFK =HLFKQXQJ
&RQFHQWULFLW\ $OO ILOOHWV DQG FRXQWHUVLQNV DV SHU GUDZLQJ
+lUWH +XEODJHU *HJHQJHZLFKWVDXIODJHIOlFKHQ 5W XQG (EHQKHLW QDFK =HLFKQXQJ
&UDQNSLQ KDUGQHVV 5RXJKQHVV KHLJKW DQG IODWQHVV RI FRXQWHUZHLJKW VHDWLQJ VXUIDFH DV SHU GUDZLQJ
+lUWH *UXQGODJHU :LQNOLJNHLW GHU *HJHQJHZLFKWEHIHVWLJXQJVJHZLQGH QDFK =HLFKQXQJ
-RXUQDO KDUGQHVV $QJXODULW\ RI FRXQWHUZHLJKW VHFXULQJ WKUHDG DV SHU GUDZLQJ
&UDFN WHVW 3UIPRPHQW GHU *HJHQJHZLFKWEHIHVWLJXQJ QDFK =HLFKQXQJ
&UDFN WHVW 7HVW WRUTXH RI FRXQWHUZHLJKW EROWHW MRLQW DV SHU GUDZLQJ
%HPHUNXQJHQ 5HPDUNV
GHQ 3UIHU &KHFNHG E\ )UHLJDEH $SSURYHG E\
'

(QJLQH 0RGHO
$VVHPEO\ 'DWD 6KHHW
&UDQNVKDIW EHDULQJ (QJLQH 1R
&UDQNFDVH 1R
&UDQNVKDIW 1R
6SHFLILHG GLPHQVLRQV
0DLQ EHDULQJV GLD

&UDQNVKDIW GLD
5DGLDO FOHDUDQFH
&UDQNVKDIW D[LDO FOHDUDQFH $FWXDO GLPHQVLRQ
0HDVXULQJ DQG HQWU\ 6PDOOHVW GLPHQVLRQ GLDPHWHU D E DQG E PHDVXULQJ OHYHO DQG
'HWHUPLQLQJ EHDULQJ FOHDUDQFH 6PDOOHVW GLPHQVLRQ D
%HDULQJ 1R $FWXDO GLPHQVLRQ
%DVLF GLPHQVLRQ
%HDULQJ GLD E
%HDULQJ GLD E
%HDULQJ GLD D
&UDQNVKDIW GLD
DFWXDO GLPHQVLRQ
%HDULQJ FOHDU
DQFH UDG
%HDULQJ 1R $FWXDO GLPHQVLRQ

%DVLF GLPHQVLRQ
%HDULQJ GLD E
%HDULQJ GLD E
%HDULQJ GLD D
&UDQNVKDIW GLD
DFWXDO GLPHQVLRQ
%HDULQJ FOHDU
DQFH UDG
5HPDUNV
6SHFLILHG GLPHQVLRQV IURP 7ROHUDQFH DQG :HDU /LPLWV /LVW
'DWH ,QVSHFWHG E\
'
(QJLQH 0RGHO
$VVHPEO\ 'DWD 6KHHW
&RQURG %HDULQJ 6SRW &KHFN
6KHOOV LQVWDOOHG (QJLQH 1R
&UDQNFDVH 1R 6SHFLILHG GLPHQVLRQV
&UDQNVKDIW 1R &RQURG EHDULQJ ERUH
5DGLDO SOD\
7R PHDVXUH 'LDPHWHU D E E

)RU FDOFXODWLQJ SOD\ VPDOOHVW GLPHQVLRQ D E RU E
&RQQHFWLQJ URG $ URZ
$FWXDO GLPHQVLRQ
&\O 5RG %DVLF D E E &UDQN 5DGLDO
1R 1R GLPHQ GLPHQ GLPHQ GLPHQ VKDIW SOD\
VLRQ VLRQ VLRQ VLRQ

&RQQHFWLQJ URG % URZ
$FWXDO GLPHQVLRQ
&\O 5RG %DVLF D E E &UDQN 5DGLDO
1R 1R GLPHQ GLPHQ GLPHQ GLPHQ VKDIW SOD\
VLRQ VLRQ VLRQ VLRQ

5HPDUNV
'DWH ,QVSHFWHG E\
'
(QJLQH 0RGHO
$VVHPEO\ 'DWD 6KHHW
7LPLQJ DQG LQMHFWLRQ WLPLQJ (QJLQH 1R
&RQWURO GLDJUDP
6SHFL $FWXDO
ILHG
&\OLQGHU 1R
([KDXVW YDOYH RSHQV EHIRUH %'&
,QOHW YDOYH RSHQV EHIRUH 7'&
([KDXVW YDOYH FORVHV DIWHU 7'&
,QOHW YDOYH FORVHV DIWHU %'&
6HWWLQJV IRU FRQWURO WLPHV FRUUHVSRQG WR ´VHWWLQJ GLDJUDPVµ
&DP OLIW
6SHFL $FWXDO
ILHG
&\OLQGHU 1R
,QOHW
([KDXVW
,QMHFWLRQ WLPLQJ
)RU VWDUW RI GHOLYHU\ VHH HQJLQH PDVWHU FDUG
5HPDUNV
'DWH ,QVSHFWHG E\
'
*HQHUDO 6HFWLRQ $
&RQYHUVLRQ7DEOHV *URXS
3DJH
$ &RQYHUVLRQ 7DEOHV
/HQJWK 6, XQLW P
2WKHU SHUPLWWHG XQLWV mP PP NP
8QLW $ PXOWLSOLHG E\ IDFWRU 8QLW %
LQ PP
IW P
\G P
VWDW PLOH NP
\G IW
\G LQ
8QLW % PXOWLSOLHG E\ IDFWRU 8QLW $

PP LQ
P IW
NP VWDW PLOH
$UHD 6, XQLW P
2WKHU SHUPLWWHG XQLWV PP D $U P KD
LQ VT LQ

PP
IW VT IW P
\G VT \G P
VWDW PLOH NP

PP
LQ VT LQ
P IW VT LQ
P \G VT \G
NP VWDW PLOH
9ROXPH 6, XQLW P
2WKHU SHUPLWWHG XQLWV O PP FP GP
LQ FX LQ

PP
IW FX IW P
\G FX \G P
JDOORQ 86 GP
JDOORQ %ULW GP

FP
LQ FX LQ
P IW FX IW
GP
JDOORQ 86
GP
JDOORQ %ULW
(
6HFWLRQ $ *HQHUDO
*URXS &RQYHUVLRQ 7DEOHV
3DJH
6SHHG 6, XQLW PV

2WKHU SHUPLWWHG XQLWV NPK
IWV PV
VWDW PLOHK NPK
PSK
NQRW %ULW NPK

PV IWV
NPK VWDW PLOHK
PSK
NPK NQRW %ULW
'HQVLW\ 6, XQLW NJ
2WKHU SHUPLWWHG XQLWV PJ J W
OE NJ
R] J
WRQ W

J R]
NJ OE
W WRQ
)RUFH 6, XQLW 1
2WKHU SHUPLWWHG XQLWV P1 N1 01
OE NS
OE 1

NS OE
1 NS
NS 1
(
*HQHUDO 6HFWLRQ $
&RQYHUVLRQ7DEOHV *URXS
3DJH
3UHVVXUH 6, XQLW 3D
2WKHU SHUPLWWHG XQLWV EDU PEDU mEDU EDU 3D
OEVT LQ SVL NSP
PP :6
OEVT LQ SVL EDU
OEVT IW 3D
LQ 46 EDU
LQ 46 NSP

DWP PP 46
DWP EDU
DWP NSP
PP :6
DWP NSFP DW
DWP OEVT LQ
EDU OEVT LQ
'HQVLW\ 6, XQLW NJP

2WKHU SHUPLWWHG XQLWV JFP NJGP NJO
OE V IW

NJP

NJP
OE VIW
7RUTXH 6, XQLW 1P
IW OE 1P

1P IW OE
0DVV PRPHQW QG JUDGH 6, XQLW NJ P

IW OE V
NJ P

NJ P
IW OE V
(
6HFWLRQ $ *HQHUDO
*URXS &RQYHUVLRQ 7DEOHV
3DJH
(QHUJ\ 6, XQLW -
2WKHU SHUPLWWHG XQLWV N- N:K
IW OE -
NFDO -
%78 -
&+8 -

- IW OE
- NFDO
- %78
- &+8
3RZHU 6, XQLW : : -V 1PV

2WKHU SHUPLWWHG XQLWV N: N-K
36 N:
+3 N:
%78V N:
NFDOK :
+3 IW OEV

N: 36
N: +3
N: %78V
: NFDOK
IW OEV +3
7HPSHUDWXUH 6, XQLW .
2WKHU SHUPLWWHG XQLWV & & . )
&
&HOVLXV .HOYLQ )DKUHQKHLW 5pDXPXU
[& [ .
[ )
[ 5
[. [ &
[ )
[ 5
[)
[ &
[ .
[ 5
[5
[ & [ . [ )
6SHFLILF IXHO FRQVXPSWLRQ

PLOHJDO 86 NPO
JDOPLOH 86 ONP

NPO PLOHJDO 86
ONP JDOPLOH 86
(
*HQHUDO 6HFWLRQ $
3XEOLFDWLRQ 6XPPDU\ *URXS
3DJH
$ 3XEOLFDWLRQ 6XPPDU\
2WKHU DSSOLFDEOH &XVWRPHU 6HUYLFH GRFXPHQWV
2SHUDWLQJ ,QVWUXFWLRQV
)OXLGV DQG /XEULFDQWV 6SHFLILFDWLRQ
7RROV OLVW
7ROHUDQFH DQG :HDU /LPLWV /LVW
'HVFULSWLRQ RI IXQFWLRQ DQG RSHUDWLRQ RI (&6
5HSDLU ,QVWUXFWLRQV IRU ([KDXVW 7XUERFKDUJHU
6SHFLDOLVHG LQIRUPDWLRQ RQ VXEMHFWV VXFK DV

)XHO LQMHFWLRQ
*RYHUQRU VHWWLQJ
FDQ EH IRXQG LQ WKH $FFHSWDQFH 7HVW 5HFRUG RU *RYHUQRU 5HFRUG IRU WKH HQJLQH LQ TXHVWLRQ
(
6HFWLRQ $ *HQHUDO
*URXS 3XEOLFDWLRQ 6XPPDU\
3DJH
(
*HQHUDO 6HFWLRQ $
5HSDLULQJ *URXS
7KUHDGHG %RUHV 3DJH
$ 5HSDLULQJ 7KUHDGHG %RUHV ZLWK 7KUHDGHG ,QVHUWV +HOL&RLO
'DWD
7KUHDG &RUH KROH ERUHGLD PD[PLQ 7ZLVW GULOO GLD

0

0

0 [

0

0

0 [

0

0 [

0 [

0

0 [

0 [

0 [

0 [

5HSDLULQJ
,I QHFHVVDU\ UHPRYH WKUHDG LQVHUW ZLWK VXLWDEOH UH
PRYDO WRRO IURP ERUH OHIW
%RUH FRUH KROH ZLWK VXLWDEOH WZLVW GULOO VHH WDEOH
&XW WKUHDG ZLWK VSHFLDO WDSSHG ERUH
1RWH 'R QRW FRXQWHUVLQN ERUH
0RXQW VSLQGOH DQG VQRXW FRUUHVSRQGLQJ ZLWK
WKUHDG
*URRYH RQ VQRXW PXVW EH DOLJQHG ZLWK PDUNLQJV RQ
LQVWDOODWLRQ WRRO DUURZV
/B
(
6HFWLRQ $ *HQHUDO
*URXS 5HSDLULQJ
3DJH 7KUHDGHG %RUHV
,QVHUW WKUHDG LQVHUW LQWR VSLQGOH LQ LQVWDOODWLRQ

WRRO
'ULYHU MRXUQDO RI WKUHDG LQVHUW PXVW EH LQ JURRYH
DUURZ

/B
8VH VSLQGOH WR WXUQ WKUHDG LQVHUW WKURXJK VQRXW XQWLO LW

LV IOXVK DW IURQW DUURZ
/B
0RXQW LQVWDOODWLRQ WRRO RQ WKUHDGHG KROH DQG LQVWDOO

WKUHDG LQVHUW ZLWKRXW DSSO\LQJ SUHVVXUH WR VSLQGOH
1RWH ,QVHUW WKUHDG LQVHUW WR WXUQV GHHSHU
WKDQ WKUHDGHG ERUH VXUIDFH
8VH EROW VKHDUHU WR UHPRYH GULYHU MRXUQDO WR 0
,Q HYHQW RI WKUHDGHG LQVHUWV RYHU 0 PRYH GULYHU
MRXUQDO XS DQG GRZQ ZLWK SRLQWHG SOLHUV DQG UHPRYH
/B
(
*HQHUDO 6HFWLRQ $
$EEUHYLDWLRQV *URXS
3DJH
$ $EEUHYLDWLRQV
$7/ $EJDVWXUERODGHU
EULW EULWLVFK
E]Z EH]LHKXQJVZHLVH
'%5 'UHK]DKOEHJUHQ]XQJVUHJOHU
''& 'HWURLW 'LHVHO &RUSRUDWLRQ
G K GDV KHLW
',1 'HXWVFKH ,QGXVWULH1RUP
(&6 (QJLQH &RQWURO 6\VWHP
(&8 (QJLQH &RQWURO 8QLW
,62 ,QWHUQDWLRQDO 2UJDQL]DWLRQ IRU 6WDQGDUGLVDWLRQ
.*6 )UHLH 6HLWH .UDIWJHJHQVHLWH
.6 $QWULHEVVHLWH .UDIWVHLWH
.: .XUEHOZHOOH
//. /DGHOXIWNKOHU
078 0RWRUHQ XQG 7XUELQHQ8QLRQ
1: 1RFNHQZHOOH
66. 6FKQHOOVFKOXNODSSH
XVZ XQG VR ZHLWHU
87 8QWHUHU 7RWSXQNW
:3 :DVVHUSXPSH
(
6HFWLRQ $ *HQHUDO
*URXS $EEUHYLDWLRQV
3DJH
(
*HQHUDO 6HFWLRQ $
.H\ZRUG ,QGH[ *URXS
3DJH
$ .H\ZRUG ,QGH[

&
&UDQNFDVH DQG H[WHUQDOO\ PRXQWHG FRPSRQHQWV &

$
&UDQNFDVH YHQWLODWLRQ &
$EEUHYLDWLRQV $
&UDQNVKDIW &
$FFHSWDQFH WHVW UHFRUG %
&UDQNVKDIW EHDULQJ VKHOO &
$GMXVW YDOYH FOHDUDQFH &
&UDQNVKDIW JHDU GULYLQJ HQG &
$LU LQWDNH DLU VXSSO\ &
&UDQNVKDIW JHDU IUHH HQG &
$LU VXSSO\ WR F\OLQGHUV &
&UDQNVKDIW PDLQ EHDULQJ ERUH &
$VVHPEO\ ,QVWUXFWLRQV JHQHUDO $
&\OLQGHU KHDG FRYHU &
$VVHPEO\ HQJLQH %
&\OLQGHU KHDG ZLWK IL[WXUHV &
$WWDFKPHQWV FUDQNFDVH &
&\OLQGHU KHDG ZLWK YDOYHV &
$X[LOLDU\ V\VWHPV VXSSOHPHQWDU\ XQLWV &
&\OLQGHU OLQHU &
$[LDO PRXQWLQJ RI FUDQNVKDIW &
&\OLQGHU GHVLJQDWLRQ $
%
'
%HDULQJ EXVK FDPVKDIW &

'DWD VKHHWV $
%HDULQJ FDS VHH FUDQNVKDIW EHDULQJ FDS
'HILQLQJ SLVWRQ 7'& &
%HDULQJ SHGHVWDO URFNHU DUP &
'HVLJQDWLRQ RI HQJLQH VLGHV DQG F\OLQGHUV $
%HOW GULYH &
'LVDVVHPEO\ HQJLQH %
%HOW SXOOH\ IRU IDQ &
&
(
%HOW SXOOH\ IRU JHQHUDWRU &
(OHFWULFDO ZLUHV &
%HOW WHQVLRQHU IRU IDQ &
(OHFWURQLF JRYHUQRU &
& (QJLQH DVVHPEO\ %
&DPVKDIW & (QJLQH FDUULHU &
&DPVKDIW EHDULQJ EXVK & (QJLQH FRRODQW OLQHV &
&DPVKDIW JHDU & (QJLQH FRRODQW SXPS &
&KDUJH DLU PDQLIROG & (QJLQH FRRODQW SXPS ORZWHPSHUDWXUH FLUFXLW &
&KHFN WLPLQJ RI FDPVKDIW & (QJLQH GLVDVVHPEO\ %
&KHFNLQJ FDPVKDIW WLPLQJ & (QJLQH GUDZLQJV %
&RQQHFWLQJ URG DQG SLVWRQ & (QJLQH JRYHUQRU &
&RQURG EHDULQJ VKHOO & (QJLQH LQVWDOODWLRQ %
&RQYHUVLRQ WDEOHV $ (QJLQH LQVWDOODWLRQ DQG RSHUDWLRQ %
&RRODQW GLVWULEXWRU KRXVLQJ & (QJLQH OD\RXW %
&RRODQW SXPS VHH HQJLQH FRRODQW SXPS (QJLQH OLIWLQJ GHYLFH &
&RRODQW SXPS VHH HQJLQH FRRODQW SXPS (QJLQH PRXQWLQJ &
&RRODQW WKHUPRVWDW VHH WKHUPRVWDW LQVHUW (QJLQH RSHUDWLRQ %
&RROHU FKDUJH DLU & (QJLQH RSHUDWLRQ %
&RROLQJ DLU V\VWHP & (QJLQH UHPRYDO %
&RROLQJ V\VWHP & (QJLQH UHPRYDO %
&RXQWHUZHLJKW FUDQNVKDIW & (QJLQH VLGHV GHVLJQDWLRQ $
&RXSOLQJ & (QJLQH VSHHG VHQVRU &
&UDQNFDVH & ([KDXVW HOERZ &
&UDQNFDVH DQG H[WHUQDOO\ PRXQWHG FRPSRQHQWV & ([KDXVW PDQLIROG &
&UDQNFDVH YHQWLODWLRQ & ([KDXVW V\VWHP &
&UDQNVKDIW & ([KDXVW WXUERFKDUJHU &
&UDQNVKDIW EHDULQJ VKHOO &
(
6HFWLRQ $ *HQHUDO
*URXS .H\ZRUG ,QGH[
3DJH
) 0
)DQ GULYH & 0DLQ EHDULQJ FDS &
)LOWHU HOHPHQW VHH IXHO ILOWHU 0HDVXULQJ SLVWRQ SURWUXVLRQ &
)O\ZKHHO & 0HFKDQLFDO IDQ GULYH &
)O\ZKHHO KRXVLQJ & 0RQLWRULQJ FRQWURO DQG UHJXODWLRQ GHYLFHV &
)ULFWLRQ ZDVKHU FUDQNVKDIW & 0RXQWLQJ6XSSRUW &
)XHO ILOWHU &

2
)XHO LQMHFWLRQ SXPS &
2LO FRROHU VHH RLO KHDW H[FKDQJHU
)XHO LQMHFWLRQ SXPS VHH LQMHFWLRQ SXPS
2LO GLSVWLFN &
)XHO LQMHFWRU &
2LO ILOOHU SLSH &
)XHO LQMHFWRU VHH LQMHFWRU
2LO ILOWHU &
)XHO OLQHV EHIRUH IXHO SXPS &
2LO KHDW H[FKDQJHU &
)XHO OLQHV IURP SXPS WR ILOWHU &
2LO OLQHV &
)XHO SUHVVXUH UHOLHI YDOYH &
2LO SDQ &
)XHO SXPS &
2LO SUHVVXUH UHOLHI YDOYH &
)XHO V\VWHP KLJKSUHVVXUH &
2LO SXPS VHH OXEH RLO SXPS
)XHO V\VWHP ORZ SUHVVXUH &
2LO UHWXUQ OLQHV H[KDXVW WXUERFKDUJHU &
*
2LO UHWXUQ WR RLO SDQ &
*HDU FDVH FRYHU & 2LO VHSDUDWRU &
*HDU FDVH IUHH HQG & 2LO VSUD\ QR]]OH SLVWRQ FRROLQJ &
*HDU WUDLQ & 2LO VXFWLRQ OLQH &
*HDU WUDLQ IUHH HQG & 2LO VXSSO\ OLQHV WXUERFKDUJHU &
*HQHUDO $ 2LOSUHVVXUH UHJXODWLQJ YDOYH &
*HQHUDWRU & 2SHUDWLRQ VFKHGXOHV %
*HQHUDWRU GULYH & 2YHUYLHZ JURXSV &
*RYHUQRU VHH JRYHUQRU

3
*URXS VXPPDU\ &
3LVWRQ FRROLQJ &

+
3LVWRQ ULQJV &
+3 OLQH &

3LVWRQV DQG FRQURGV &
+D]DUGV LQ ZRUNLQJ DUHDV $

3RZHU VXSSO\ HQJLQH VLGH &
+XE GULYLQJ HQG &

3UHVVXUH UHOLHI YDOYH VHH RLO SUHVVXUH UHOLHI YDOYH RU
+XE IUHH HQG & IXHO SUHVVXUH UHOLHI YDOYH
3UHVVXUH VHQVRU &

,
3UHVVXUH WHVWLQJ FRRODQW FKDPEHU &
,GOHU JHDU IUHH HQG & 372 V\VWHPV GULYLQJ DQG IUHH HQGV &
,PSRUWDQW ,QIRUPDWLRQ $ 372 GULYLQJ HQG &
,QMHFWLRQ OLQH & 372 IUHH HQG &
,QMHFWLRQ V\VWHP KLJKSUHVVXUH & 3XEOLFDWLRQ VXPPDU\ $
,QWHUFRROHU & 3XVKURGV &
,QWHUFRROHU &

5
/
5DGLDOOLS VKDIW VHDO IRU FUDQNVKDIW &
/HDNRII IXHO OLQH &
5HSDLULQJ WKUHDGHG ERUHV $
/LIWLQJ DWWDFKPHQWV IRU HQJLQH DQG UXQQLQJ JHDU &
5RFNHU DUP &
/LQHV OXEH RLO SXPS &
5RFNHU DUP DVVHPEO\ &
/XEH RLO SXPS &
5XQLQ SURJUDP %
/XEH RLO V\VWHP &
(
*HQHUDO 6HFWLRQ $
.H\ZRUG ,QGH[ *URXS
3DJH
5 9
5XQQLQJ JHDU & 9DOYH EULGJH &
5XQQLQJ JHDU VHH UXQQLQJ JHDU 9DOYH GULYH &
5XQQLQJ JHDU DQG HQJLQH OLIWLQJ DWWDFKPHQWV & 9DOYH JHDU &
5XQQLQJLQ % 9DOYH UROOHU WDSSHWV &
9DOYH VHDW LQVHUW UHFRQGLWLRQLQJ &

6
9EHOWV &
6HWWLQJ 9EHOW WHQVLRQ &
9LEUDWLRQ GDPSHU &
6HWWLQJV $
:
6WDUWHU &
6WDUWHU ULQJ & : 0DLQWHQDQFH RSHUDWLRQV %
6WDUWLQJ V\VWHP &
6XSSOHPHQWDU\ XQLWV DX[LOLDU\ V\VWHPV &
7HPSHUDWXUH VHQVRU &
7KHUPRVWDW &
7KHUPRVWDW LQVHUW &
7RUTXH VSHFLILFDWLRQV IRU VFUHZV DQG QXWV $
7UDQVYHUVH VHFWLRQDO YLHZ HQJLQH %
(
6HFWLRQ $ *HQHUDO
*URXS .H\ZRUG ,QGH[
3DJH
(
7DVN 6FKHGXOHV 6HFWLRQ %
3DJH
&RQWHQWV
% &KHFNLQJ (QJLQH &RQGLWLRQ EHIRUH : 2YHUKDXO DQG 0DMRU 2YHUKDXO
% : 0DLQWHQDQFH 2SHUDWLRQV
% (QJLQH 5HPRYDO
% (QJLQH $VVHPEO\
% (QJLQH $VVHPEO\
% (QJLQH 5XQQLQJ,Q
% (QJLQH ,QVWDOODWLRQ DQG 2SHUDWLRQ
% (QJLQH 'UDZLQJV
(
6HFWLRQ % 7DVN 6FKHGXOHV
3DJH
(
2SHUDWLRQ 6FKHGXOHV 6HFWLRQ %
&KHFNLQJ (QJLQH &RQGLWLRQ *URXS
EHIRUH : DQG : 3DJH
% &KHFNLQJ (QJLQH &RQGLWLRQ EHIRUH : 2YHUKDXO DQG 0DLQ 2YHUKDXO

%HIRUH WKH HQJLQH LV UHPRYHG D EULHI WHVW VKRXOG EH FRQGXFWHG WR DVVLVW LQ HYDOXDWLQJ LWV FRQGLWLRQ DQG UXQQLQJ EHKDY
LRXU 'HYLDWLRQV IURP WKH (QJLQH $FFHSWDQFH 7HVW 5HFRUG 'DWD IRXQG GXULQJ WKH WHVW UXQ SURYLGH YDOXDEOH LQIRUPDWLRQ
IRU VXEVHTXHQW RYHUKDXO VHUYLFHV
2SHUDWLRQV WR EH SHUIRUPHG 6HH

&DUU\ RXW EHIRUHRSHUDWLRQ VHUYLFHV 2SHUDWLQJ ,QVWUXFWLRQV
6WDUW HQJLQH 2SHUDWLQJ ,QVWUXFWLRQV
&DUU\ RXW HQJLQH ZDUPXS SURFHGXUH 2SHUDWLQJ ,QVWUXFWLRQV
7HVW HQJLQH DW KLJKHVW SRVVLEOH SRZHU
&KHFN HQJLQH VSHHG WHPSHUDWXUHV DQG SUHVVXUHV ZKHUH JDXJHV DUH LQVWDOOHG
&KHFN RSHUDWLQJ VWDWHV ZLWK IDXOW UHFRUGHU DVVHVV GLVFUHSDQFLHV 2SHUDWLQJ ,QVWUXFWLRQV
&KHFN UXQQLQJ QRLVHV WKHVH VKRXOG EH UHVWULFWHG WR QRUPDO RSHUDWLQJ VRXQGV
'XULQJ WHVW UXQ YLVXDOO\ LQVSHFW HQJLQH DQG H[WHUQDO OLQHV IRU OHDNV 2SHUDWLQJ ,QVWUXFWLRQV
&KHFN FRORXU RI H[KDXVW JDV 2SHUDWLQJ ,QVWUXFWLRQV
2SHUDWH HQJLQH ZLWK DGMXVWDEOH ]HURSRZHU VSHHG
&RQQHFW IXHO OLQH FRQQHFWLRQV IRU OHDNV
5HPRYH F\OLQGHU KHDG FRYHU &
&KHFN YDOYH JHDU OXEULFDWLRQ YLVXDO LQVSHFWLRQ
([WUDFW HQJLQH RLO VDPSOH 2SHUDWLQJ ,QVWUXFWLRQV
$QDO\]H HQJLQH RLO VDPSOH VSRW WHVW ZDWHU FRQWHQW GLOXWLRQ ZLWK IXHO 078 7HVW .LW
([WUDFW FRRODQW VDPSOH 2SHUDWLQJ ,QVWUXFWLRQV
$QDO\]H FRRODQW VDPSOH 078 7HVW .LW
&KHFN RSHUDWLRQ RI PRQLWRULQJ V\VWHP DQG (&6 2SHUDWLQJ ,QVWUXFWLRQV
6KXW GRZQ HQJLQH 2SHUDWLQJ ,QVWUXFWLRQV
5HGXFH FRRODQW OHYHO LQ H[SDQVLRQ WDQN DQG FKHFN OHYHO VZLWFK WULS SRLQW 2SHUDWLQJ ,QVWUXFWLRQV
FRRODQW OHYHO PRQLWRULQJ
'UDLQ FRRODQW 2SHUDWLQJ ,QVWUXFWLRQV
)LOO V\VWHP ZLWK FOHDQLQJ VROXWLRQ 6SHFLDO 3XEOLFDWLRQ
)OXVK FRROLQJ V\VWHP 6SHFLDO 3XEOLFDWLRQ
&KHFN FRPSUHVVLRQ SUHVVXUH 2SHUDWLQJ ,QVWUXFWLRQV
(
6HFWLRQ % 2SHUDWLRQ 6FKHGXOHV
*URXS &KHFNLQJ (QJLQH &RQGLWLRQ
3DJH EHIRUH : DQG :
(
: 0DLQWHQDQFH 2SHUDWLRQV *URXS
3DJH
% : 0DLQWHQDQFH 2SHUDWLRQV

1RWH 7KH IROORZLQJ WDEOH FRQWDLQV DOO RSHUDWLRQV WKDW PD\ EH QHFHVVDU\ GXULQJ D : PDLQWHQDQFH HFKHORQ
)RU DQ H[DFW GHVFULSWLRQ RI WKH ZRUN VHH WKH FRQWUDFWVSHFLILF PDLQWHQDQFH VFKHGXOH

'LVDEOH HQJLQH VWDUW 2SHUDWLQJ ,QVWUXFWLRQV
:DVK SODQW ZLWKRXW XVLQJ FKHPLFDO FOHDQLQJ DJHQWV 2SHUDWLQJ ,QVWUXFWLRQV
5HPRYH DQG FKHFN IXHO LQMHFWRUV 2SHUDWLQJ ,QVWUXFWLRQV
&KHFN FRPSUHVVLRQ SUHVVXUHV 2SHUDWLQJ ,QVWUXFWLRQV
'UDLQ HQJLQH FRRODQW 2SHUDWLQJ ,QVWUXFWLRQV
'UDLQ FKDUJH DLU FRRODQW 2SHUDWLQJ ,QVWUXFWLRQV
'UDLQ HQJLQH RLO 2SHUDWLQJ ,QVWUXFWLRQV
5HSODFH HQJLQH RLO ILOWHU 2SHUDWLQJ ,QVWUXFWLRQV
5HSODFH WKURZDZD\ ILOWHU RI IXHO GXSOH[ ILOWHU 2SHUDWLQJ ,QVWUXFWLRQV
&OHDQ IXHO SUHILOWHU RU UHSODFH ILOWHU HOHPHQWV 2SHUDWLQJ ,QVWUXFWLRQV
5HSODFH DLU ILOWHU FDUWULGJHV 2SHUDWLQJ ,QVWUXFWLRQV
&KHFN FRQWDPLQDWLRQ LQGLFDWRU
&KHFN LQWHUFRROHU GUDLQ OLQHV IRU REVWUXFWLRQ FOHDQ LI QHFHVVDU\ 2SHUDWLQJ ,QVWUXFWLRQV
&KHFN VHFXULW\ RI H[KDXVW V\VWHP 2SHUDWLQJ ,QVWUXFWLRQV
&KHFN LQWDNH DLU V\VWHP LQWDNH VLGH IRU OHDNV DQG GDPDJH 2SHUDWLQJ ,QVWUXFWLRQV
&KHFN H[KDXVW WXUERFKDUJHU IRU HDVH RI PRYHPHQW 2SHUDWLQJ ,QVWUXFWLRQV
&OHDQ HQJLQH FRRODQW FRROHU FKHFN IRU OHDNV 6SHFLDO 3XEOLFDWLRQ
5HSODFH WKHUPDO HOHPHQWV RI HQJLQH FRRODQW WKHUPRVWDW &
5HPRYH RYHUKDXO RU UHSODFH HQJLQH FRRODQW SXPS &
5HPRYH RYHUKDXO RU UHSODFH FKDUJH DLU FRRODQW SXPS &
&KHFN FRQGLWLRQ RI HQJLQH FRQWURO V\VWHP DQG ZLULQJ DQG FKHFN IRU VHFXULW\ 2SHUDWLQJ ,QVWUXFWLRQV
&KHFN FRQGLWLRQ DQG YROWDJH RI JHQHUDWRU GULYH EHOW 2SHUDWLQJ ,QVWUXFWLRQV
&KHFN FRQGLWLRQ DQG YROWDJH RI JHQHUDWRU IDQ 2SHUDWLQJ ,QVWUXFWLRQV
5HPRYH DQG FKHFN IXHO LQMHFWLRQ SXPSV &
5HPRYH YDOYH GULYH &
5HPRYH YDOYH UROOHU WDSSHWV DQG SXVKURGV &
&KHFN LQGLYLGXDO FRPSRQHQWV UHSDLU RU UHSODFH DV QHFHVVDU\ &
3HUIRUP HQGRVFRSH FKHFN RI FRPEXVWLRQ FKDPEHUV DQG YDOYHV 2SHUDWLQJ ,QVWUXFWLRQV
&KHFN RLO VHSDUDWRU FOHDQ RU UHSODFH DV QHFHVVDU\ &
&KHFN VHFXULQJ VFUHZV RI PRXQWLQJ IRU VHFXULW\ 2SHUDWLQJ ,QVWUXFWLRQV
&KHFN FRQGLWLRQ RI UHVLOLHQW PRXQWLQJ YLVXDO LQVSHFWLRQ 2SHUDWLQJ ,QVWUXFWLRQV
5HSODFH H[WHUQDO HODVWRPHUV
&KHFN EDWWHU\ FKDUJH VWDWH HOHFWURO\WH VSHFLILF JUDYLW\ DQG HOHFWURO\WH OHYHO 2SHUDWLQJ ,QVWUXFWLRQV
5HDVVHPEOH VXEDVVHPEOLHV DQG UHLQVWDOO DV SHU HQJLQH DVVHPEO\ VFKHGXOH (20
)LOO HQJLQH RLO V\VWHP 2SHUDWLQJ ,QVWUXFWLRQV
)LOO HQJLQH FRRODQW V\VWHP 2SHUDWLQJ ,QVWUXFWLRQV
)LOO FKDUJH DLU FRRODQW V\VWHP 2SHUDWLQJ ,QVWUXFWLRQV
3HUIRUP RSHUDWLRQV SUHSDUDWRU\ WR HQJLQH VWDUW 2SHUDWLQJ ,QVWUXFWLRQV
3HUIRUP FKHFNV ZLWK HQJLQH UXQQLQJ DV IRU LQLWLDO RSHUDWLRQ 2SHUDWLQJ ,QVWUXFWLRQV
QRW DOZD\V DSSOLFDEOH RUGHUVSHFLILF
(
*URXS : 0DLQWHQDQFH 2SHUDWLRQV
3DJH
(
(QJLQH 5HPRYDO *URXS
3DJH
% (QJLQH 5HPRYDO

6KXW RII IXHO VXSSO\ 2SHUDWLQJ ,QVWUXFWLRQV
'UDLQ HQJLQH RLO LI SRVVLEOH ZKLOH HQJLQH LV ZDUP 2SHUDWLQJ ,QVWUXFWLRQV
([DPLQH RLO VOXGJH IRU PHWDOOLF UHVLGXHV 2SHUDWLQJ ,QVWUXFWLRQV
'UDLQ HQJLQH FRRODQW ZKHQ WHPSHUDWXUH RI FRRODQW LV EHORZ & 2SHUDWLQJ ,QVWUXFWLRQV
'UDLQ FKDUJH DLU FRRODQW 2SHUDWLQJ ,QVWUXFWLRQV
:DVK SODQW ZLWKRXW XVLQJ FKHPLFDO FOHDQLQJ DJHQWV 2SHUDWLQJ ,QVWUXFWLRQV
'LVFRQQHFW DOO FRQQHFWLRQV
6HDO RSHQ FRQQHFWLRQV ZLWK QRQOLQWLQJ SOXJV DQG FRYHUV
5HOHDVH HQJLQH VHFXULQJ VFUHZV
5HPRYH HQJLQH DQG SODFH RQ WUHVWOHV

1RWH 8VLQJ D OLIWLQJ GHYLFH DWWDFK HQJLQH RQO\ RQ VXVSHQVLRQ EUDFNHWV SURYLGHG
DV VKRZQ LQ LQVWDOODWLRQ GUDZLQJ WDNLQJ FHQWUH RI JUDYLW\ DQG WUDQVSRUWDWLRQ
VSHFLILFDWLRQV LQWR FRQVLGHUDWLRQ
(QJLQH ZHLJKW
GU\ ZHLJKW
9 DSSUR[ NJ
9 DSSUR[ NJ
(
*URXS (QJLQH 5HPRYDO
3DJH
(
(QJLQH 'LVDVVHPEO\ *URXS
3DJH
% (QJLQH 'LVDVVHPEO\

%HIRUH EHJLQQLQJ FRPSOHWH HQJLQH GLVDVVHPEO\ LW LV DGYLVDEOH WR WDNH SKRWRJUDSKV RI WKH HQJLQH IURP DOO VLGHV RU WR
UHFRUG DOO FRPSRQHQWV LQVWDOOHG RQ WKH HQJLQH LQ ZULWLQJ
7KH VHTXHQFH RI WKH UHTXLUHG RSHUDWLRQV LQ WKH IROORZLQJ OLVW FRUUHVSRQGV WR WKH RUGHU LQ ZKLFK DFWXDO GLVDVVHPEO\
LV WR EH FDUULHG RXW
7KH LQGLYLGXDO WDVNV DUH GHVFULEHG LQ GHWDLO LQ WKH *URXSV OLVWHG LQ WKH ULJKWKDQG FROXPQ

,QVWDOO HQJLQH LQ DVVHPEO\ IUDPH
0DUN DQG GLVFRQQHFW HOHFWULF FDEOHV &
5HPRYH (&8 KRXVLQJ DQG EUDFNHW &
5HPRYH PRQLWRULQJ HTXLSPHQW &
5HPRYH VSHHG VHQVRU &
5HPRYH FUDQNFDVH EUHDWKHU &
5HPRYH FKDUJH DLU FRRODQW OLQHV
5HPRYH FKDUJH DLU FRRODQW SXPS &
5HPRYH FRQQHFWLQJ KRXVLQJ WRS LQWHUFRROHU &
5HPRYH FKDUJH DLU PDQLIROG &
5HPRYH HQJLQH OLIWLQJ IL[WXUHV &
5HPRYH HQJLQH FRRODQW OLQH &
5HPRYH IDQ GULYH 9ULEEHG EHOW &
5HPRYH 9ULEEHG EHOW IRU JHQHUDWRU &
5HPRYH JHQHUDWRU &
5HPRYH FDUULHU IRU IDQ GULYH EHDULQJ XQLW DQG EHOW WHQVLRQHU &
5HPRYH YLEUDWLRQ GDPSHU DQG EHOW SXOOH\ &
5HPRYH VWDUWHU &
5HPRYH RLO GLSVWLFN DQG RLO ILOOHU WXEH &
5HPRYH RLO VXSSO\ OLQHV WR WXUERFKDUJHUV &
5HPRYH RLO UHWXUQ OLQHV IRU WXUERFKDUJHUV &
5HPRYH H[KDXVW WXUERFKDUJHU &
5HPRYH H[KDXVW PDQLIROGV &
5HPRYH LQWHUFRROHU &
5HPRYH F\OLQGHU KHDG FRYHUV &
5HPRYH IXHO OLQH &
5HPRYH IXHO OLQH DQG IXHO GHOLYHU\ SXPS &
5HPRYH IXHO ILOWHU &
5HPRYH WKHUPRVWDW KRXVLQJ DQG WHPSHUDWXUH LQVHUWV &
5HPRYH KXE IURP FUDQNVKDIW 9 &
5HPRYH ZLULQJ &
5HPRYH RLO VXSSO\ OLQH WR FUDQNVKDIW VXSSRUW EHDULQJ IUHH HQG &
5HPRYH FRRODQW GLVWULEXWLRQ KRXVLQJ &
5HPRYH HQJLQH FRRODQW SXPS &
(
*URXS (QJLQH 'LVDVVHPEO\
3DJH

'LVFRQQHFW OHDNRII IXHO OLQHV &
5HPRYH ZLULQJ KDUQHVV IRU LQMHFWLRQ SXPSV &
5HPRYH LQMHFWLRQ OLQH DQG LQMHFWRU &
5HPRYH YDOYH GULYH &
5HPRYH SXVKURGV &
5HPRYH F\OLQGHU KHDGV &
5HPRYH YDOYH UROOHU WDSSHW &
5HPRYH HQG FRYHU IRU FODPSLQJ HOHPHQW &
5HPRYH LQMHFWLRQ SXPS &
5HPRYH IXHO WHPSHUDWXUH VHQVRU &
5HPRYH IXHO SLSHZRUN LQ 9FKDPEHU &
5HPRYH FRQQHFWLQJ KRXVLQJ ERWWRP IRU LQWHUFRROHU &
5HPRYH RLO ILOWHU &
5HPRYH RLO KHDW H[FKDQJHU &
5HPRYH IO\ZKHHO &
5HPRYH KXE GULYLQJ HQG &
5HPRYH HQJLQH PRXQWV &
,QVWDOO FUDQNFDVH LQ DVVHPEO\ GROO\
5HPRYH HOERZ IURP JHDU FDVH WR RLO SDQ &
5HPRYH RLO SDQ &
5HPRYH VXFWLRQ DQG SUHVVXUH SLSH &
5HPRYH OXEH RLO SXPS DQG RLO SUHVVXUH UHOLHI YDOYH &
5HPRYH JHDU FDVH FRYHU &
5HPRYH D[OHV DQG LGOHU JHDUV IURP JHDU FDVH FRYHU &
5HPRYH JHDU FDVH IUHH HQG &
5HPRYH IO\ZKHHO KRXVLQJ &
5HPRYH SLVWRQ ZLWK FRQQHFWLQJ URG &
5HPRYH FUDQNVKDIW &
5HPRYH F\OLQGHU OLQHU &
5HPRYH FUDQNFDVH IURP DVVHPEO\ GROO\
5HPRYH RLO VSUD\ QR]]OH &
5HPRYH FDPVKDIW &
5HPRYH SOXJ DQG HQG FRYHU &
5HPRYH EODQNLQJ SOXJ IRU RLO ERUH DQG FRRODQW ERUH &
5HPRYH FDPVKDIW EHDULQJ EXVK &
(
(QJLQH $VVHPEO\ *URXS
3DJH
% (QJLQH $VVHPEO\

7KH VHTXHQFH LQ ZKLFK WKH IROORZLQJ UHTXLUHG SURFHGXUHV DUH OLVWHG FRUUHVSRQGV WR WKH RUGHU LQ ZKLFK DFWXDO DV
VHPEO\ LV SHUIRUPHG
7KH LQGLYLGXDO WDVNV DUH GHVFULEHG LQ GHWDLO LQ WKH *URXSV OLVWHG LQ WKH ULJKWKDQG FROXPQ

&KHFN FUDQNFDVH &
0DNH VXUH WKDW RLOZD\V DUH SHUIHFWO\ FOHDQ &
,QVWDOO HQG FRYHU DQG SOXJ &
,QVWDOO SOXJ IRU RLO DQG FRRODQW ERUHV &
0HDVXUH FUDQNFDVH ERUHV &
,QVWDOO FDPVKDIW EHDULQJ EXVKHV &
,QVWDOO PDLQ EHDULQJ FDS ZLWKRXW EHDULQJ VKHOOV &
0HDVXUHPHQW FUDQNVKDIW PDLQ EHDULQJ ERUH &
,QVWDOO RLO VSUD\ QR]]OH &
6WRUH FUDQNVKDIW &
,QVWDOO FUDQNVKDIW &
,QVWDOO FDPVKDIW &
,QVWDOO FUDQNFDVH LQ DVVHPEO\ GROO\
,QVWDOO F\OLQGHU OLQHU &
0HDVXUH F\OLQGHU OLQHU ERUH DQG SURMHFWLRQ &
,QVWDOO SLVWRQ ZLWK FRQQHFWLQJ URG &
,QVWDOO IO\ZKHHO KRXVLQJ &
,QVWDOO JHDU FDVH IUHH HQG &
,QVWDOO D[OH DQG LGOHU JHDU LQ JHDU FDVH FRYHU &
,QVWDOO JHDU FDVH FRYHU &
,QVWDOO OXEH RLO SXPS DQG RLO SUHVVXUH UHOLHI YDOYH &
,QVWDOO VXFWLRQ DQG SUHVVXUH SLSH &
,QVWDOO RLO SDQ &
,QVWDOO HOERZ IURP JHDU FDVH WR RLO SDQ &
,QVWDOO HQJLQH PRXQWV &
5HPRYH FUDQNFDVH IURP DVVHPEO\ GROO\
6HW FUDQNFDVH RQ DVVHPEO\ IUDPH
)LW KXE GULYLQJ HQG &
,QVWDOO IO\ZKHHO &
,QVWDOO YDOYH UROOHU WDSSHW &
,QVWDOO F\OLQGHU KHDGV &
,QVWDOO SXVKURGV &
,QVWDOO YDOYH GULYH &
$GMXVW YDOYH FOHDUDQFH &
&KHFN FDPVKDIW WLPLQJ &
&RQQHFW OHDNRII IXHO OLQHV &
(
*URXS (QJLQH $VVHPEO\
3DJH

,QVWDOO FODPSLQJ HOHPHQW HQG FRYHU &
,QVWDOO RLO KHDW H[FKDQJHU &
,QVWDOO RLO ILOWHU &
,QVWDOO HQJLQH FRRODQW SXPS &
,QVWDOO ORZHU FRQQHFWLQJ KRXVLQJ IRU LQWHUFRROHU &
,QVWDOO IXHO SLSHZRUN LQ 9FKDPEHU &
,QVWDOO IXHO WHPSHUDWXUH VHQVRU &
,QVWDOO IXHO LQMHFWLRQ SXPS &
,QVWDOO LQMHFWRUV DQG LQMHFWLRQ OLQH &
,QVWDOO LQMHFWLRQ SXPS FDEOH KDUQHVV &
,QVWDOO FRRODQW FRQWURO KRXVLQJ &
,QVWDOO RLO VXSSO\ OLQH WR FUDQNVKDIW VXSSRUW EHDULQJ IUHH HQG &
,QVWDOO VHQVRU LQ FRRODQW GLVWULEXWLRQ KRXVLQJ &
,QVWDOO KXE RQ FUDQNVKDIW 9 &
,QVWDOO WKHUPRVWDW KRXVLQJ DQG WHPSHUDWXUH LQVHUWV &
,QVWDOO IXHO ILOWHU &
,QVWDOO IXHO GHOLYHU\ SXPS DQG IXHO OLQH &
,QVWDOO HQJLQH OLIWLQJ DWWDFKPHQWV &
,QVWDOO IXHO OLQH & &
,QVWDOO H[KDXVW PDQLIROG &
,QVWDOO VWDUWHU &
,QVWDOO LQWHUFRROHU &
&RQQHFW HQJLQH FRRODQW OLQHV &
,QVWDOO F\OLQGHU KHDG FRYHUV &
,QVWDOO WXUERFKDUJHU &
,QVWDOO RLO UHWXUQ OLQHV IRU WXUERFKDUJHUV &
,QVWDOO RLO VXSSO\ OLQHV WR WXUERFKDUJHUV &
,QVWDOO YLEUDWLRQ GDPSHU DQG EHOW SXOOH\ &
,QVWDOO IDQ GULYH FDUULHU EHDULQJ XQLW DQG EHOW WHQVLRQHU &
,QVWDOO 9ULEEHG EHOW IRU IDQ GULYH DQG VHW 9EHOW WHQVLRQ &
,QVWDOO JHQHUDWRU &
,QVWDOO EHOW SXOOH\ IRU JHQHUDWRU DQG DGMXVWLQJ 9EHOW WHQVLRQ &
,QVWDOO VHQVRU LQ FKDUJH DLU PDQLIROG &
,QVWDOO FKDUJH DLU PDQLIROG &
,QVWDOO XSSHU FRQQHFWLQJ KRXVLQJ LQWHUFRROHU &
,QVWDOO (&8 KRXVLQJ DQG EUDFNHW &
,QVWDOO FKDUJH DLU FRRODQW SXPS &
,QVWDOO FKDUJH DLU FRRODQW OLQHV
,QVWDOO PRQLWRULQJ LQVWUXPHQW &
,QVWDOO VSHHG VHQVRU &
&RQQHFW HOHFWULF FDEOH &
(
(QJLQH $VVHPEO\ *URXS
3DJH

,QVWDOO FUDQNFDVH EUHDWKHU &
,QVWDOO RLO GLSVWLFN DQG RLO ILOOHU SLSH &
3UHVVXUHWHVW IXHO V\VWHP &
&RRODQW FKDPEHU SUHVVXUH WHVWLQJ &
(
*URXS (QJLQH $VVHPEO\
3DJH
(
5XQQLQJ,Q *URXS
3DJH
% (QJLQH 5XQQLQJ,Q

,I SLVWRQV SLVWRQ ULQJV RU F\OLQGHU OLQHUV KDYH EHHQ UHSODFHG WKH HQJLQH PXVW EH UXQ LQ DV SHU WKH DSSURSULDWH UXQLQ
VFKHGXOH
&RQVFLHQWLRXV UXQQLQJ LQ LV RI FULWLFDO LPSRUWDQFH DV UHJDUGV WKH GXUDELOLW\ DQG RSHUDWLRQDO UHOLDELOLW\ RI WKH HQJLQH
8VH D EUDNH RU DOWHUQDWRU WR DEVRUE WKH SRZHU JHQHUDWHG LQ WKH EUDNLQJ UXQ
3RZHU PXVW EH WUDQVPLWWHG IURP WKH HQJLQH WR WKH EUDNH E\ PHDQV RI D UHVLOLHQW FRXSOLQJ
6HWWLQJV
6HW LQWDNH WHPSHUDWXUHV EHIRUH HQJLQH LQ DFFRUGDQFH ZLWK WKH WHPSHUDWXUHV VWDWHG IRU WKH HQJLQH LQ LWV 078 (QJLQH
$FFHSWDQFH 7HVW 5HFRUG
7KH HQJLQH FRRODQW WHPSHUDWXUH GHSHQGV RQ WKH RSHUDWLQJ UDQJH RI WKH FRRODQW WKHUPRVWDW
5HFRUG UHDGLQJV IRU SRZHU IXHO OXEH RLO FRRODQW FKDUJH DLU DQG H[KDXVW JDV DW HDFK WHVW SRLQW WLPH VSHHG DQG
HIIHFWLYH SRZHU RI WKH UXQLQ VFKHGXOH DQG HQWHU UHDGLQJV XQGHU ´(QJLQH 5XQQLQJ,Qµ LQ ´078 'LHVHO (QJLQH )DF
WRU\ 7HVWµ UHFRUG

,QVWDOO HQJLQH RQ WHVW VWDQG
&RQQHFW HQJLQH WR EUDNH RU DOWHUQDWRU
&RQQHFW LQWDNH DLU H[KDXVW HQJLQH FRRODQW UDZ ZDWHU DQG IXHO SLSHZRUN
&RQQHFW FKDUJHDLU FRRODQW OLQH
&RQQHFW RLO SUHVVXUH OLQH DQG RLO WHPSHUDWXUH PHDVXUHPHQW IHHOHU
&RQQHFW FUDQNFDVH YHQWLODWLRQ OLQH
&RQQHFW DOO PHDVXULQJ KRVHV DQG FDEOHV
&RQQHFW GLDORJXH XQLW WR (&8
)LOO H[SDQVLRQ WDQN ZLWK FRRODQW DQG FRUURVLRQ LQKLELWRU RLO XS WR PD[ PDUN 2SHUDWLQJ ,QVWUXFWLRQV
&KHFN WKDW IXHO LQ VHUYLFH RU VXSSO\ WDQN LV WR VSHFLILFDWLRQ 078 )OXLG DQG /XEULFDQWV
6SHFLILFDWLRQ
)LOO RLO V\VWHP XS WR PD[ PDUN ZLWK IUHVK RLO 2SHUDWLQJ ,QVWUXFWLRQV
&KHFN RSHUDWLRQ RI HQJLQH JRYHUQRU DQG JRYHUQRU DFWXDWRU EHIRUH VWDUWLQJ HQ
JLQH
&KHFN RSHUDWLRQ RI HPHUJHQF\ VKXWGRZQ V\VWHP
6WDUW HQJLQH YLD (&6 2SHUDWLQJ ,QVWUXFWLRQV
$IWHU RSHUDWLQJ HQJLQH DW QRORDG IRU DSSUR[ PLQ VKXW GRZQ HQJLQH FKHFN RLO
OHYHO UHPRYH YDOYH JHDU FRYHU FKHFN YDOYH JHDU OXEULFDWLRQ
6WDUW HQJLQH FKHFN LGOLQJ VSHHG
&KHFN IRU OHDNV DW FRRODQW RLO DQG IXHO OLQHV FUDQNFDVH VHDOV DLU V\VWHP DQG 2SHUDWLQJ ,QVWUXFWLRQV
H[KDXVW OLQHV
5XQ LQ HQJLQH DQG UHFRUG PHDVXUHPHQWV LQ DFFRUGDQFH ZLWK UXQQLQJLQ VFKHGXOH 078 (QJLQH $FFHSWDQFH
7HVW 5HFRUG
&KHFN HQJLQH VSHHG DQG EUDNH ORDG
&RPSDUHFKHFN LQMHFWLRQ WHPSHUDWXUHV SUHVVXUHV DQG VSHHGV DW JDXJH GLD
ORJXH XQLWV ZLWK $FFHSWDQFH 7HVW 5HFRUG
&KHFN OXEH RLO WHPSHUDWXUH EHIRUH HQJLQH
0HDVXUH LQWDNH GHSUHVVLRQ EHIRUH H[KDXVW WXUERFKDUJHU
0HDVXUH H[KDXVW JDV WHPSHUDWXUH DIWHU WXUERFKDUJHU
&KHFN H[KDXVW EDFNSUHVVXUH DIWHU HQJLQH
&KHFN FRORXU RI H[KDXVW JDV
(
*URXS 5XQQLQJ,Q
3DJH

(QWHU EDURPHWULF UHDGLQJ DQG UHODWLYH KXPLGLW\ LQ UHFRUG 078 (QJLQH $FFHSWDQFH
7HVW 5HFRUG
&KHFN HQJLQH IRU DEQRUPDO QRLVHV DQG IRU OHDNV
&KHFN LGOH DQG IXOOORDG SRVLWLRQV DGMXVW LI QHFHVVDU\
&KHFN RLO ILOWHU 2SHUDWLQJ ,QVWUXFWLRQV
$IWHU UXQQLQJ LQ SHUIRUP IDFWRU\ WHVW UXQ LQ DFFRUGDQFH ZLWK 078 $FFHSWDQFH
7HVW 5HFRUG
(QWHU RSHUDWLRQDO YDOXHV LQ HQFORVHG )DFWRU\ 7HVW 5HFRUG 078 (QJLQH $FFHSWDQFH
7HVW 5HFRUG
&RPSDUH PHDVXUHG YDOXHV ZLWK YDOXHV LQ $FFHSWDQFH 7HVW 5HFRUG 078 (QJLQH $FFHSWDQFH
7HVW 5HFRUG
3UHVHUYH HQJLQH LI LW LV WR EH VWRUHG IRU D SURORQJHG SHULRG 2SHUDWLQJ ,QVWUXFWLRQV
$GRSW VXLWDEOH SURWHFWLYH PHDVXUHV LI HQJLQH LV VFKHGXOHG IRU PDULQH WUDQVSRUW
5HPRYH HQJLQH IURP WHVW VWDQG
6SUD\ HQJLQH ZLWK SURWHFWLYH SDLQW
5XQLQ SURJUDP 9*

(QJLQH VSHHG ) 1
USP SH EDU

3HII N:
5XQQLQJ WLPH W PLQ

1RWH 0HDVXUHPHQWV WR EH UHFRUGHG RQO\ DW Q USP DQG ILQDO SRZHU
FRPSOHWH PHDVXUHPHQW 3 ) [ Q N:
)RU ORDG ´)µ WKH EUDNH FRQVWDQW LV [
5XQLQ SURJUDP 9*

(QJLQH VSHHG ) 1

USP SH EDU

3HII N:
5XQQLQJ WLPH W PLQ

1RWH 0HDVXUHPHQWV WR EH UHFRUGHG RQO\ DW Q USP DQG ILQDO SRZHU
FRPSOHWH PHDVXUHPHQW 3 ) [ Q N:
)RU ORDG ´)µ WKH EUDNH FRQVWDQW LV [
(

(QJLQH ,QVWDOODWLRQ DQG 2SHUDWLRQ *URXS
3DJH
% (QJLQH ,QVWDOODWLRQ DQG 2SHUDWLRQ

2SHQ DOO FRQQHFWLRQV UHPRYH FRYHU DQG UXEEHU SOXJV
$WWDFK HQJLQH RQO\ RQ VXVSHQVLRQ EUDFNHWV SURYLGHG DV VKRZQ LQ LQVWDOODWLRQ GUDZ
LQJ WDNLQJ FHQWUH RI JUDYLW\ DQG WUDQVSRUWDWLRQ VSHFLILFDWLRQV LQWR FRQVLGHUDWLRQ DQG
LQVWDOO LQ SODQW
-RLQ FRQQHFWLRQV DSSURSULDWHO\
)LOO HQJLQH FRRODQW V\VWHP 2SHUDWLQJ ,QVWUXFWLRQV
)LOO FKDUJH DLU FRRODQW V\VWHP 2SHUDWLQJ ,QVWUXFWLRQV
)LOO RLO V\VWHP ZLWK HQJLQH RLO 2SHUDWLQJ ,QVWUXFWLRQV
3UHSDUH HQJLQH IRU RSHUDWLRQ 2SHUDWLQJ ,QVWUXFWLRQV
3HUIRUP FKHFNV ZKLOH HQJLQH LV UXQQLQJ 2SHUDWLQJ ,QVWUXFWLRQV
&DUU\ RXW WHVW UXQ 2SHUDWLQJ ,QVWUXFWLRQV
3HUIRUP DIWHUVKXWGRZQ VHUYLFHV 2SHUDWLQJ ,QVWUXFWLRQV
3UHVHUYDWLRQ PHDVXUHV DUH UHTXLUHG LI DQ H[WHQGHG RXWRIVHUYLFH SHULRG LV LQWHQGHG 2SHUDWLQJ ,QVWUXFWLRQV
(
*URXS (QJLQH ,QVWDOODWLRQ DQG 2SHUDWLRQ
3DJH
(
(QJLQH 'UDZLQJV *URXS
3DJH
% (QJLQH 'UDZLQJV

(QJLQH FURVVVHFWLRQ
(QJLQH ORQJLWXGLQDO VHFWLRQ
(QJLQH OD\RXW GULYLQJ HQG 9
(QJLQH OD\RXW IUHH HQG 9
(QJLQH VLGH YLHZ OHIW 9
(QJLQH VLGH YLHZ ULJKW 9
(QJLQH RYHUKHDG YLHZ 9
(
*URXS (QJLQH 'UDZLQJV
3DJH
(QJLQH FURVVVHFWLRQ
(
3DJH
(QJLQH ORQJLWXGLQDO VHFWLRQ
(
3DJH
(QJLQH OD\RXW GULYLQJ HQG 9
(
3DJH
(QJLQH OD\RXW IUHH HQG 9
(
3DJH
(QJLQH VLGH YLHZ OHIW 9
(
3DJH
(QJLQH VLGH YLHZ ULJKW 9
(
3DJH
(QJLQH RYHUKHDG YLHZ 9
(
7DVN 'HVFULSWLRQ 6HFWLRQ &
*URXS 2YHUYLHZ 3DJH
& *URXS 2YHUYLHZ
&UDQNFDVH DQG H[WHUQDOO\ PRXQWHG FRPSRQHQWV

*HDU WUDLQ
5XQQLQJ JHDU
&\OLQGHU KHDG
9DOYH JHDU
*RYHUQRU DFWXDWRU
)XHO V\VWHP KLJKSUHVVXUH
)XHO V\VWHP ORZSUHVVXUH
5HJXODWLRQ
([KDXVW WXUERFKDUJHU
,QWHUFRROHU
$LU LQWDNH DLU VXSSO\
QRW DVVLJQHG
([KDXVW V\VWHP
QRW DVVLJQHG
QRW DVVLJQHG
6WDUWLQJ V\VWHP
/XEH RLO V\VWHP
QRW DVVLJQHG
&RROLQJ V\VWHP
3RZHU VXSSO\ HQJLQH VLGH
&RROLQJ DLU V\VWHP
0RXQWLQJVXSSRUW
(QJLQHJHDUER[ FRQQHFWLRQ
372 V\VWHPV GULYLQJ HQG DQG IUHH HQG FRXSOLQJ
3XPSV GULYHQ VHSDUDWHO\
%ODQN UHJLVWHU
$X[LOLDU\ V\VWHPV VXSSOHPHQWDU\ XQLWV
%ODQN UHJLVWHU
0RQLWRULQJ FRQWURO DQG UHJXODWLRQ GHYLFHV
QRW PRXQWHG RQ WKLV HQJLQH
(
6HFWLRQ & 7DVN 'HVFULSWLRQ
3DJH *URXS 6XPPDU\
& *URXS 2YHUYLHZ
&UDQNFDVH DQG H[WHUQDOO\ PRXQWHG FRPSRQHQWV ([KDXVW V\VWHP

*HDU WUDLQ 6WDUWLQJ V\VWHP
5XQQLQJ JHDU /XEH RLO V\VWHP
&\OLQGHU KHDG &RROLQJ V\VWHP
9DOYH JHDU 3RZHU VXSSO\ HQJLQH VLGH
)XHO V\VWHP KLJKSUHVVXUH &RROLQJ DLU V\VWHP
)XHO V\VWHP ORZSUHVVXUH 0RXQWLQJVXSSRUW
([KDXVW WXUERFKDUJHU 372 V\VWHPV GULYLQJ HQG DQG IUHH HQG
,QWHUFRROHU FRXSOLQJ
$LU LQWDNH DLU VXSSO\ 0RQLWRULQJ DQG FRQWURO HTXLSPHQW
(
&UDQNFDVH DQG ([WHUQDOO\ 0RXQWHG &RPSRQHQWV *URXS
3DJH
&RQWHQWV
& &UDQNFDVH DQG ([WHUQDOO\ 0RXQWHG &RPSRQHQWV
& &UDQNFDVH

& *HQHUDO YLHZ
& 6SHFLDO WRRO
& $IWHU LQVWDOODWLRQ RSHUDWLRQV
& &\OLQGHU OLQHU

& *HQHUDO YLHZ
& 6SHFLDO WRRO
& 5HPRYDO
& ,QVWDOODWLRQ
& 2LO SDQ

& *HQHUDO YLHZ
& 5HPRYDO
& ,QVWDOODWLRQ
& /LIWLQJ DWWDFKPHQWV IRU HQJLQH DQG UXQQLQJ JHDU

& *HQHUDO YLHZ
& 5HPRYDO
& ,QVWDOODWLRQ
& &UDQNFDVH YHQWLODWLRQ

& *HQHUDO YLHZ
& 5HPRYDO
& 'LVDVVHPEO\
& $VVHPEO\
& ,QVWDOODWLRQ
(
*URXS &UDQNFDVH DQG ([WHUQDOO\ 0RXQWHG &RPSRQHQWV
3DJH
& &UDQNFDVH DQG ([WHUQDOO\ 0RXQWHG &RPSRQHQWV
&UDQNFDVH 2LO SDQ
3OXJ +H[ VFUHZ
&\OLQGHU OLQHU &UDQNVKDIW DOLJQPHQW EHDULQJ FRYHU
'RXEOHKH[ VFUHZ &DPVKDIW EHDULQJ
(
&UDQNFDVH DQG ([WHUQDOO\ 0RXQWHG &RPSRQHQWV *URXS
3DJH
7KH IROORZLQJ LV D OLVW RI DX[LOLDU\ HTXLSPHQW DQG PDWHULDOV QHHGHG IRU WKH DVVHPEO\ RSHUDWLRQV
&$87,21
:KHQ XVLQJ WKHVH FKHPLFDO VXEVWDQFHV LW LV HVVHQWLDO WR REVHUYH WKH PDQXIDFWXUHU·V LQVWUXFWLRQV IRU
XVH VDIHW\ LQVWUXFWLRQV DQG ZDVWH GLVSRVDO VSHFLILFDWLRQV
0DWHULDOV DQG FRQVXPDEOHV 'HVLJQDWLRQ 2UGHU 1R 5HPDUNV

078 ''&
(PHU\ FORWK
:LUH EUXVK
%RWWOH EUXVK
0DJQLI\LQJ JODVV
6SUD\ JXQ
,QVSHFWLRQ ODPS
(QGRVFRSH ZLWK FROG OLJKW
/LTXLG QLWURJHQ
$FWLYDWRU /RFWLWH 1R
9DVHOLQH 3HWUROHXP MHOO\ ZKLWH
7KUHDGORFNLQJ FRPSRXQG /RFWLWH 1R )LQDO VWUHQJWK DW & K
6HDOLQJ SDVWH (ODVWRVLO 1
(QJLQH RLO
0XOWLSXUSRVH JUHDVH 6KHOO 5HWLQD[
&RUURVLRQ LQKLELWRU 3ILQGHU $3 )
&OHDQLQJ DJHQW 6ROYFOHDQ .:
&OHDQLQJ DJHQW 0HLVWHU 3URSHU

FDUERQGHSRVLW UHPRYHU
.HURVHQH RU GLHVHO IXHO
'HQDWXUDWHG HWKDQRO
(QJLQHHU·V EOXH EOXH
'U\ FRPSUHVVHG DLU
&RUURVLRQ LQKLELWRU &DUDPED ([SUHVV
0DJQHWLF FUDFNWHVWLQJ HTXLSPHQW ZLWK IOXRU

HVFHQW PDJQHWLF SRZGHU
6XUIDFH FUDFNWHVWLQJ HTXLSPHQW ZLWK UHG

SHQHWUDQW G\H
6XUIDFH FUDFNWHVWLQJ HTXLSPHQW ZLWK IOXRU

HVFHQW SHQHWUDQW G\H
(
*URXS &UDQNFDVH DQG ([WHUQDOO\ 0RXQWHG &RPSRQHQWV
3DJH
(
&UDQNFDVH *URXS
3DJH
& &UDQNFDVH

& *HQHUDO 9LHZ
&UDQNFDVH 3OXJ
0DLQ EHDULQJ FDS 6HDOLQJ ULQJ
&UDQNVKDIW DOLJQPHQW EHDULQJ FRYHU 3OXJ
*URRYHG SLQ 6HDOLQJ ULQJ
+H[ VFUHZ 6HDOLQJ SOXJ

0D[ VKDIW OHQJWK PP
'RZHO SLQ
/XEULFDQW (QJLQH RLO
3UHWLJKWHQLQJ WRUTXH 1P 1P 6FUHZ
$GGLWLRQDO DQJOH RI URWDWLRQ /XEULFDQW 6XUIDFH VHDODQW
'RXEOHKH[ VFUHZ 3OXJ
/XEULFDQW (QJLQH RLO /XEULFDQW (QJLQH RLO
7LJKWHQLQJ WRUTXH 1P 1P 7LJKWHQLQJ WRUTXH 1P
(QG FRYHU 6HDOLQJ ULQJ
/XEULFDQW 7KUHDGORFNLQJ OLTXLG &DPVKDIW EHDULQJ
7LJKWHQLQJ VHTXHQFH +H[ VFUHZV EHIRUH GRXEOHKH[ VFUHZV
(
*URXS &UDQNFDVH
3DJH
&UDQNFDVH 9
& 6SHFLDO 7RRO

'HVLJQDWLRQ $SSOLFDWLRQ 1XPEHU
*XLGH WXEH IRU FDPVKDIW EHDULQJ

6WRS SLQ IRU JXLGH WXEH
5HPRYDO WRRO IRU FDPVKDIW EHDULQJ
6KULQNLQJ WRRO IRU FDPVKDIW EHDULQJ
0DQGUHO IRU HQG FRYHU
(
&UDQNFDVH *URXS
3DJH
& %HIRUH5HPRYDO 2SHUDWLRQV
$ GLVWLQFWLRQ PXVW EH PDGH DV WR ZKHWKHU

7KH HQJLQH LV WR EH FRPSOHWHO\ GLVDVVHPEOHG
7KH HQJLQH LV WR EH UHPRYHG EXW QRW GLVDVVHPEOHG
7KH HQJLQH LV WR UHPDLQ LQVWDOOHG
2SHUDWLRQV 6HH
[ 5HPRYH HQJLQH %
[ 3HUIRUP RSHUDWLRQV DV SHU 'LVDVVHPEO\ 3ODQ %
[ [ 5HPRYDO QRW VFKHGXOHG
& ,QVSHFWLRQ DQG 5HSDLU

&OHDQ DOO FRPSRQHQWV
8VLQJ WKH VXUIDFH FUDFNWHVWLQJ PHWKRG ZLWK UHG SHQHWUDQW G\H FKHFN FUDQNFDVH IRU FUDFNV
&KHFN PDWLQJ IDFHV DQG XSSHU DQG ORZHU ILWV IRU F\OLQGHU OLQHUV LQ FUDQNFDVH IRU ZHDU GDPDJH DQG FDYLWDWLRQ
,Q HYHQW RI ZHDU DQG GDPDJH WR EDOFRQ\ VHDW DQGRU F\OLQGHU OLQHU ILWWLQJV UHFRQGLWLRQ DOO EDOFRQ\ VHDWV DQG F\OLQGHU
OLQHU ERUHV WR QH[W UHSDLU VWDJH ,W LV LPSHUDWLYH WR FRQWDFW 078 DQGRU ''&
)RU OLPLW YDOXHV VHH 7ROHUDQFH DQG :HDU /LPLWV /LVW
&KHFN FDPVKDIW EHDULQJ EXVKHV IRU ZHDU DQG GDPDJH UHSODFH LI QHFHVVDU\
&KHFN DOO PDWLQJ IDFHV VHDOLQJ IDFHV DQG ILWV UXE GRZQ ZLWK DQ RLOVWRQH RU HPHU\ FORWK DV QHFHVVDU\
&KHFN ERUHV IRU GRZHO SLQV LQ FUDQNFDVH IRU GDPDJH UHFRQGLWLRQ LI QHFHVVDU\
&KHFN FRQGLWLRQ RI DOO WKUHDGV UHFKDVH WKUHDGV LI QHFHVVDU\
5HSODFH VHDOLQJ ULQJV
&$87,21
&RPSUHVVHG DLU LV DLU ZKLFK KDV EHHQ FRPSUHVVHG XQGHU SUHVVXUH ,I FRPSUHVVHG DLU LV XVHG IRU EORZLQJ
RXW RU EORZGU\LQJ FRPSRQHQWV DOZD\V ZHDU SURWHFWLYH JRJJOHV RU VDIHW\ PDVN &RPSUHVVHG DLU PXVW QRW
EH GLUHFWHG DW WKH ERG\ 7KH SUHVVXUH PXVW QRW H[FHHG EDU OELQ
)OXVK RLOZD\V LQ FUDQNFDVH ZLWK ´FOHDQHUµ XVLQJ DV KLJK D SUHVVXUH DV SRVVLEOH DQG EORZ FOHDU ZLWK FRPSUHVVHG
DLU
1RWH ,I WKH FUDQNFDVH DQGRU HQJLQH LV QRW SXW LQWR RSHUDWLRQ LPPHGLDWHO\ GU\ RLO ERUHV SUHVHUYH DQG VHDO DLU
WLJKW ZLWK VXLWDEOH HQG FRYHUV
(
*URXS &UDQNFDVH
3DJH
&KHFNLQJ KH[ VFUHZV IRU FUDQNVKDIW EHDULQJ FDS

0HDVXUH VKDIW OHQJWK / RI FHQWUDO KH[ VFUHZV IRU
FUDQNVKDIW EHDULQJ FDS )RU PD[ VKDIW OHQJWK
VHH &
&KHFN WKDW WKUHDG DQG VFUHZ KHDG PDWLQJ IDFH
DUURZV DUH LQ SHUIHFW FRQGLWLRQ UHSODFH VFUHZ LI
QHFHVVDU\
&KHFNLQJ FUDQNVKDIW EHDULQJ FDS DQG FUDQNVKDIW

DOLJQPHQW EHDULQJ FRYHU
8VLQJ WKH PDJQHWLF FUDFNWHVWLQJ PHWKRG DQG IOXRU
HVFHQW PDJQHWLF SRZGHU FKHFN FUDQNVKDIW EHDULQJ
FDSV IRU FUDFNV DQG UHSODFH DV QHFHVVDU\
&KHFN VHSDUDWLRQV DQG EHDULQJ VKHOO PDWLQJ IDFHV
DUURZV ERWK JURRYHG SLQV DQG GRZHO SLQV LQ
DOLJQPHQW EHDULQJ FRYHU DQG GRZHO SLQV LQ PDLQ
EHDULQJ FDS IRU GDPDJH
0HDVXUH SURMHFWLRQ RI F\OLQGHU SLQV GRZHO SLQV DQG
JURRYHG SLQV
3URMHFWLRQ $ RI F\OLQGHU SLQV DQG GRZHO SLQV
IURP PP WR PP
3URMHFWLRQ RI JURRYHG SLQV IURP PP WR PP
&KHFN SRVLWLRQ RI GRZHO SLQV LQ DOLJQPHQW EHDULQJ
FRYHU
:LGH HQG RI WKH GRZHO SLQV PXVW IDFH SDUDOOHO WR
ORQJLWXGLQDO D[LV RI FUDQNVKDIW PDLQ EHDULQJ ERUH
5HSODFLQJ GRZHO SLQV IRU FUDQNVKDIW EHDULQJ FDS

&ODPS FUDQNVKDIW EHDULQJ FDS RQ GRZHO SLQ LQ YLFH
DQG FDUHIXOO\ UHPRYH GRZHO SLQ
&OHDQ FUDQNVKDIW EHDULQJ FDS
8VH D FRSSHU KDPPHU WR GULYH LQ QHZ GRZHO SLQ
0HDVXUH SURMHFWLRQ $ RI GRZHO SLQV VHH SUHYLRXV
LOOXVWUDWLRQ
(
&UDQNFDVH *URXS
3DJH
0HDVXULQJ EHDULQJ FDS ZLGWK

8VLQJ PLFURPHWHU PHDVXUH ZLGWK RI PDLQ EHDULQJ
FDS DW XSSHU DQG ORZHU ILWV DUURZV
)RU OLPLW YDOXHV VHH 7ROHUDQFH DQG :HDU /LPLWV
/LVW
0HDVXULQJ EHDULQJ FDS JXLGHV

8VLQJ ERUH JDXJH PHDVXUH EHDULQJ FDS JXLGHV
DW XSSHU DQG ORZHU ILWV
/B
,QVWDOOLQJ PDLQ EHDULQJ FDS

&UDQNFDVH LV XSVLGH GRZQ ZLWK RLO SDQ PDWLQJ IDFH
KRUL]RQWDO
:LSH EHDULQJ VKHOO PDWLQJ IDFHV RQ PDLQ EHDULQJ
FDS
&$87,21
&RPSUHVVHG DLU LV DLU ZKLFK KDV EHHQ FRP
SUHVVHG XQGHU SUHVVXUH 5LVN RI LQMXU\
,I FRPSUHVVHG DLU LV XVHG IRU EORZLQJ RXW RU
EORZGU\LQJ FRPSRQHQWV DOZD\V ZHDU SURWHF
WLYH JRJJOHV RU VDIHW\ PDVN
&RPSUHVVHG DLU PXVW QRW EH GLUHFWHG DW WKH ERG\
7KH SUHVVXUH PXVW QRW H[FHHG EDU OELQ
%ORZ RXW SDUWLWLRQV RQ FUDQNVKDIW EHDULQJ FDS DQG

FUDQNFDVH F\OLQGHU DQG GRZHO SLQV DUURZV DQG UH
ODWHG ERUHV LQ FUDQNFDVH ZLWK FRPSUHVVHG DLU DQG
FKHFN WKDW WKH\ DUH SHUIHFWO\ FOHDQ
(
*URXS &UDQNFDVH
3DJH
&$87,21
&RPSRQHQWV KDYH VKDUS HGJHV
5LVN RI LQMXU\
+DQGOH FRPSRQHQWV RQO\ ZKHQ ZHDULQJ SURWHF
WLYH JORYHV
)LW EHDULQJ FDSV DFFRUGLQJ WR PDUNLQJ VHH QH[W LO

OXVWUDWLRQ RQ DSSURSULDWH FUDQNFDVH EHDULQJ DQG
VHFXUH E\ KLWWLQJ ZLWK D FRSSHU KDPPHU
1RWH 0DLQ EHDULQJ FDSV DQG WKHLU KH[ VFUHZV PXVW

QRW EH LQWHUFKDQJHG
D &RQVHFXWLYH QXPEHULQJ RI WKH PDLQ EHDULQJ
VWDUWLQJ IURP WKH GULYLQJ HQG
E &RQVHFXWLYH QXPEHULQJ RI WKH KH[ VFUHZV
(
&UDQNFDVH *URXS
3DJH
&RDW WKUHDG DQG XQGHUVLGH RI VFUHZ RI FHQWUH KH[

VFUHZV ZLWK HQJLQH RLO
)LW EXW GR QRW \HW IXOO\ WLJKWHQ KH[ VFUHZV DV SHU
PDUNLQJV VHH SUHYLRXV LOOXVWUDWLRQ
&RDW WKUHDG DQG PDWLQJ IDFH RI VLGH GRXEOHKH[
VFUHZV DUURZV ZLWK HQJLQH RLO DQG LQVHUW GRXEOH
KH[ VFUHZV EXW GR QRW WLJKWHQ \HW
1RWH $OZD\V WLJKWHQ VFUHZV RQ RQH EHDULQJ DW
VDPH WLPH
7LJKWHQLQJ VHTXHQFH VWDUWLQJ IURP DOLJQPHQW
EHDULQJ
3UHWLJKWHQ FHQWUH VFUHZV WR VSHFLILHG SUHWLJKWHQLQJ
WRUTXH VHH &
0DUN VFUHZ KHDGV
7LJKWHQ VFUHZV WR VSHFLILHG DGGLWLRQDO DQJOH RI URWD
/B WLRQ
1RWH 7LJKWHQ ODWHUDO GRXEOHKH[ VFUHZV RI RQH
EHDULQJ VLPXOWDQHRXVO\
6LPXOWDQHRXVO\ WLJKWHQ VLGH GRXEOHKH[ VFUHZV
VWDUWLQJ IURP DOLJQPHQW EHDULQJ LQ RQH ZRUN VWHS WR
VSHFLILHG WRUTXH VHH &
6HWWLQJ ERUH JDXJH

$GMXVW ERUH JDXJH DQG GLDO JDXJH ZLWK DGMXVWLQJ
ULQJ RU PLFURPHWHU WR EDVLF VL]H RI UHVSHFWLYH
ERUH WR EH PHDVXUHG
(
*URXS &UDQNFDVH
3DJH
0HDVXULQJ FUDQNVKDIW PDLQ EHDULQJ ERUH

8VLQJ ERUH JDXJH PHDVXUH FUDQNVKDIW PDLQ EHDULQJ
ERUH
(QWHU PHDVXUHPHQW YDOXHV LQ GDWD VKHHW
)RU PHDVXUHPHQW SODQHV DQG OLPLW YDOXHV VHH 7ROHU
DQFH DQG :HDU /LPLWV /LVW
,I OLPLW YDOXHV DUH H[FHHGHG UHFRQGLWLRQ PDLQ ERUH WR
QH[W UHSDLU VL]H
/B
0HDVXULQJ FUDQNFDVH ERUHV IRU F\OLQGHU OLQHUV

8VLQJ ERUH JDXJH PHDVXUH XSSHU DQG ORZHU ILWV RI
F\OLQGHU OLQHU ORFDWLQJ ERUHV
,I OLPLW YDOXHV DUH H[FHHGHG PDFKLQH DOO FROODUHG
EXVK UHFHVVHV DQG F\OLQGHU OLQHU ERUHV LQ TXHVWLRQ WR
QH[W UHSDLU VL]H
,W LV LPSHUDWLYH WR FRQWDFW 078 DQGRU ''&
/B
5HPRYLQJ PDLQ EHDULQJ FDSV

&KHFN PDUNLQJ RI PDLQ EHDULQJ FDS LQ UHVSHFW WR
FUDQNFDVH DQG FRQVHFXWLYH QXPEHULQJ RI KH[
VFUHZV DQG DSSO\ PDUNV DV QHFHVVDU\
D 6WDUWLQJ DW GULYLQJ HQG VWDPS QXPEHU RI PDLQ
EHDULQJ ZLWK PP QXPEHUV PDLQ EHDULQJ VR
WKDW WKH\ FDQ EH UHDG IURP VDPH GLUHFWLRQ
(
&UDQNFDVH *URXS
3DJH
5HPRYH DOO GRXEOHKH[ VFUHZV DUURZV DQG WKHQ DOO

FHQWUDO KH[ VFUHZV IRU FUDQNVKDIW EHDULQJ FDS
1RWH 5HOHDVH VFUHZV RQ RQH EHDULQJ DW VDPH
WLPH
&$87,21
5LVN RI LQMXU\
WLYH JORYHV
&DUHIXOO\ UDLVH DOO EHDULQJ FDSV YHUWLFDOO\ XQWLO FOHDU RI
FUDQNFDVH
0HDVXULQJ EDOFRQ\ GHSWK

6HFXUH GLDO JDXJH WR GLDO JDXJH KROGHU
)LW GLDO JDXJH VW\OXV RQ FROODUHG EXVK UHFHVV RQ
FUDQNFDVH
&KHFN SUHORDG DSSUR[ PP RI GLDO JDXJH
6HW GLDO JDXJH VFDOH WR ]HUR
)LW GLDO JDXJH VW\OXV RQ HQG IDFH RI FUDQNFDVH DQG
UHDG RII EDOFRQ\ GHSWK
,I OLPLW YDOXHV DUH H[FHHGHG PDFKLQH DOO FROODUHG
EXVK UHFHVVHV DQG F\OLQGHU OLQHU ERUH LQ TXHVWLRQ WR
QH[W UHSDLU VL]H
(
*URXS &UDQNFDVH
3DJH
0HDVXULQJ ERUH IRU YDOYH WDSSHW

0HDVXUH ERUH ZLWK ERUH JDXJH
,I OLPLW YDOXHV DUH H[FHHGHG PDFKLQH ERUH LQ TXHV
WLRQ WR UHSDLU VL]H
0HDVXULQJ FDPVKDIW EHDULQJ EXVK ERUH

8VLQJ ERUH JDXJH PHDVXUH FDPVKDIW EHDULQJ EXVK
ERUH
5HSODFH DOO FDPVKDIW EHDULQJ EXVKHV LI OLPLW YDOXHV
DUH H[FHHGHG
(
&UDQNFDVH *URXS
3DJH
5HSODFLQJ FDPVKDIW EHDULQJ VKHOO

8VLQJ VXLWDEOH PDQGUHO FDUHIXOO\ GULYH FDPVKDIW
EHDULQJ EXVKLQJV RXW RI FUDQNFDVH
8VLQJ ERUH JDXJH PHDVXUH PDLQ ERUH IRU FDPVKDIW
EHDULQJ EXVK LQ FUDQNFDVH
,I OLPLW YDOXHV DUH H[FHHGHG PDFKLQH ORFDWLQJ ERUH LQ
TXHVWLRQ WR UHSDLU VL]H
)RU LQVWDOOLQJ WKH FDPVKDIW EHDULQJ EXVKHV WKH RLO
SDQ PRXQWLQJ VXUIDFH RQ WKH FUDQNFDVH PXVW EH
KRUL]RQWDO DQG IDFH XSZDUGV

1RWH 0DNH VXUH SDUWV DUH SHUIHFWO\ FOHDQ ,QVWDOOD
WLRQ VHTXHQFH RI FDPVKDIW EHDULQJ VWDUWLQJ
IURP IUHH HQG FRQWLQXLQJ LQ GLUHFWLRQ RI IUHH
HQG
&OHDQ OXEH RLO ERUHV DQG HQVXUH WKH\ DUH SHUIHFWO\
FOHDQ DQG XQREVWUXFWHG
,QVHUW JXLGH WXEH IRU FDPVKDIW EHDULQJ LQWR FUDQN
FDVH EHIRUH ILUVW EHDULQJ SRLQW RQ IUHH HQG
,QVHUW VWRS SLQ LQWR VHFRQG H[KDXVW WDSSHW ERUH
RQ % VLGH
2EVHUYH ILW RI VWRS SLQ GRZHO SLQ LQ JXLGH VORW RI UROOHU
WDSSHW ERUH
0DUN QHZ FDPVKDIW EHDULQJ EXVK RSSRVLWH

PDUNLQJV DSSOLHG DW WKH IDFWRU\ DUURZ RQ MDFNHW VXU
IDFH
/B
(
*URXS &UDQNFDVH
3DJH
&$87,21
1LWURJHQ LV OLTXLG DW & ) 'DQJHU RI
IUHH]LQJ DQG VXIIRFDWLRQ
'R QRW DOORZ OLTXLG QLWURJHQ WR FRPH LQWR FRQWDFW
ZLWK SDUWV RI ERG\ H\HV KDQGV
:HDU SURWHFWLYH FORWKLQJ LQFOXGLQJ JORYHV DQG
FORVHG VKRHV DQG JRJJOHV
9HQWLODWH ZRUNLQJ DUHD ZHOO
&KLOO FDPVKDIW EHDULQJ EXVK LQ OLTXLG QLWURJHQ DQG
LQVWDOO RQ JXLGH WXEH VR WKDW PDUNLQJV RQ JXLGH
WXEH DQG RQ FDPVKDIW EHDULQJ EXVK DUH DOLJQHG
7KH SRVLWLRQ PDUNLQJ DSSOLHG DW WKH IDFWRU\ WR WKH
IDFH RI WKH FDPVKDIW EHDULQJ EXVK IDFHV WKH GULYLQJ
HQG
1RWH 7KH RLO ERUH RI WKH LQVWDOOHG EHDULQJ EXVK
PXVW EH DW WKH R·FORFN SRVLWLRQ 7KH FUDQN
FDVH RLO SDQ PRXQWLQJ VXUIDFH IDFHV XS
ZDUGV
,QVHUW JXLGH WXEH LQ GLUHFWLRQ RI IUHH HQG DUURZ XQWLO
LW FRQWDFWV VWRS RQ VWRS SLQ DQG LQVHUW FDP VKDIW
EHDULQJ EXVK LQ FDPVKDIW EDVLF ERUH
2QFH EHDULQJ EXVK KDV UHDFKHG URRP WHPSHUDWXUH
UHPRYH JXLGH WXEH DQG VWRS SLQ DQG LQVWDOO QH[W FDP
VKDIW EHDULQJ EXVK LQ PHWKRG GHVFULEHG
&KHFN SRVLWLRQ RI EHDULQJ EXVK RLO ERUHV R·FORFN
SRVLWLRQ
&KLOO ODVW FDPVKDIW EHDULQJ EXVK DQG XVLQJ

VKULQNRQ WRRO LQVHUW IOXVK LQWR FDPVKDIW EDVLF ERUH
IURP GULYLQJ HQG
,W PXVW EH HQVXUHG WKDW WKH RLO ERUH DUURZ RI WKH
EHDULQJ EXVK YLHZHG IURP WKH GULYLQJ HQG LV DW WKH
R·FORFN SRVLWLRQ 7KH FUDQNFDVH RLO SDQ PRXQWLQJ
VXUIDFH IDFHV XSZDUGV
$IWHU LQVWDOODWLRQ PHDVXUH GLDPHWHU RI FDPVKDIW
EHDULQJ EXVK ERUHV
/B
(
&UDQNFDVH *URXS
3DJH
5HSODFLQJ HQG FRYHU

1RWH 5HSODFH HQG FRYHU RQO\ LI QHFHVVDU\ HJ LQ
HYHQW RI OHDNDJHV
8VLQJ D PDQGUHO DQG KDPPHU FDUHIXOO\ WDS FRYHU
LQWR ERUH DW RQH VLGH XQWLO LW WLOWV 8VH SOLHUV WR UHPRYH
FRYHU IURP ERUH
:KHQ UHPRYLQJ WDNH FDUH WKDW FRYHU GRHV QRW IDOO
LQWR ERUH DQG WKDW VHDOLQJ IDFH RI ERUH LV QRW GDP
DJHG
1HYHU DWWHPSW WR GULOO D KROH LQ FRYHU DV FKLSV RI
PHWDO LQ HQJLQH FRROLQJ MDFNHW FDQ FDXVH ORFDOL]HG
RYHUKHDWLQJ
&OHDQ DQG GHJUHDVH VHDWLQJ IDFHV RI FRYHU DQG ERUH

LQ FUDQNFDVH
&RDW VHDWLQJ IDFH RI FRYHU ZLWK WKUHDG ORFNLQJ FRP
SRXQG
8VLQJ PDQGUHO DQG KDPPHU GULYH FRYHU LQWR ERUH
1RWH (QVXUH FRUUHFW ILQDO VWUHQJWK RI WKUHDGORFN
LQJ DJHQW 6HH &
(
*URXS &UDQNFDVH
3DJH
&KHFNLQJ RLO ERUHV

1RWH $OO RLOZD\V PXVW EH WKRURXJKO\ FOHDQHG DV SDUW RI HYHU\ PDMRU RYHUKDXO RU LI PHWDO FKLSV SHQHWUDWH HQJLQH RLO
V\VWHP $OZD\V PDNH VXUH RLOZD\V DUH SHUIHFWO\ FOHDQ
5HPRYH SOXJV IRU PDLQ RLO FKDQQHOV DV VKRZQ LQ *HQHUDO 9LHZ VHH &
8VH DQ HQGRVFRSH DQG FROGOLJKW VRXUFH WR H[DPLQH RLOZD\V DQG IXHO ERUHV VKRZQ LQ IROORZLQJ LOOXVWUDWLRQV PDNLQJ
VXUH WKH\ DUH SHUIHFWO\ FOHDQ
%RWK PDLQ RLO JDOOHULHV
2LO ERUHV IRU FDPVKDIW EHDULQJ DQG YDOYH JHDU RLO

UHWXUQ ERUHV
(
&UDQNFDVH *URXS
3DJH
2LO ERUHV DUURZV WR PDLQ EHDULQJV
2LO ERUHV DUURZV IRU RLO VSUD\ QR]]OHV
)XHO VXSSO\ DQG UHWXUQ ERUHV DUURZV RQ DOO ZHEV
(
*URXS &UDQNFDVH
3DJH
,I QHFHVVDU\ FOHDQ RLO ERUHV DUURZ DQGRU IXHO

ERUHV ZLWK EULVWOH EUXVK
1RWH 1HYHU XVH D ZLUH EUXVK
&$87,21
,I FRPSUHVVHG DLU LV XVHG IRU EORZLQJ RXW RU EORZ
GU\LQJ FRPSRQHQWV DOZD\V ZHDU SURWHFWLYH
JRJJOHV RU VDIHW\ PDVN
$IWHU FOHDQLQJ IOXVK ERUHV ZLWK FOHDQHU XQGHU PD[

SUHVVXUH DQG WKHQ EORZ RXW ZLWK FRPSUHVVHG DLU
1RWH ,I WKH FUDQNFDVH DQGRU HQJLQH LV QRW SXW LQWR
RSHUDWLRQ LPPHGLDWHO\ GU\ RLO ERUHV SUH
VHUYH DQG VHDO DLUWLJKW ZLWK VXLWDEOH HQG
FRYHUV
,QVHUW SOXJV DQG VHDOLQJ ULQJV LQ DFFRUGDQFH ZLWK
*HQHUDO 9LHZ VHH & DQG WLJKWHQ WR
VSHFLILHG WLJKWHQLQJ WRUTXH
& $IWHU,QVWDOODWLRQ 2SHUDWLRQV

7KH HQJLQH ZDV FRPSOHWHO\ GLVDVVHPEOHG
7KH HQJLQH LV UHPRYHG EXW ZDV QRW GLVDVVHPEOHG
7KH HQJLQH LV LQVWDOOHG
2SHUDWLRQV 6HH
[ 3HUIRUP RSHUDWLRQV DV SHU $VVHPEO\ 3ODQ %
[ ,QVWDOO HQJLQH %
(
&\OLQGHU /LQHU *URXS
3DJH
& &\OLQGHU /LQHU

& *HQHUDO 9LHZ
&\OLQGHU OLQHU
6HDOLQJ ULQJ ERWWRP
6HDOLQJ ULQJ 7RPEDN
(
*URXS &\OLQGHU /LQHU
3DJH
&\OLQGHU OLQHU LQ FUDQNFDVH
&UDQNFDVH
&\OLQGHU OLQHU
6HDOLQJ ULQJ 7RPEDN
6HDOLQJ ULQJ ERWWRP
6HDOLQJ ULQJ ERWWRP
)D
& 6SHFLDO 7RRO
5HPRYDO DQG LQVWDOODWLRQ WRRO IRU F\OLQGHU OLQHU

0HDVXULQJ SODWH IRU F\OLQGHU OLQHU SURMHFWLRQ
6SDFHU WXEHV IRU F\OLQGHU OLQHU SURMHFWLRQ
(
3DJH

2SHUDWLRQV 6HH
[ 5HPRYH HQJLQH %

[ 'LVDEOH HQJLQH VWDUW 2SHUDWLQJ ,QVWUXFWLRQV
[ 'UDLQ HQJLQH FRRODQW 2SHUDWLQJ ,QVWUXFWLRQV
[ 'UDLQ FKDUJH DLU FRRODQW 2SHUDWLQJ ,QVWUXFWLRQV
[ 'UDLQ RU GUDZ RII HQJLQH RLO 2SHUDWLQJ ,QVWUXFWLRQV
[ [ 5HPRYH DLU SLSHZRUN EHIRUH H[KDXVW WXUERFKDUJHU LI QHFHVVDU\
[ [ 5HPRYH FUDQNFDVH EUHDWKHU &
[ [ 'LVFRQQHFW RU UHPRYH HOHFWULFDO FDEOH LI QHFHVVDU\ &
[ [ 5HPRYH HQJLQH OLIWLQJ IL[WXUHV &
[ [ 5HOHDVH RU UHPRYH FKDUJH DLU PDQLIROG &
[ [ 5HPRYH FRRODQW SLSH IURP LQWHUFRROHU &
[ [ 5HPRYH H[KDXVW WXUERFKDUJHU &
[ [ 5HPRYH H[KDXVW PDQLIROG &
[ [ 5HPRYH F\OLQGHU KHDG FRYHU &
[ [ 5HPRYH +3 IXHO OLQH &
[ [ 'LVFRQQHFW OHDNRII IXHO OLQHV &
[ [ 5HPRYH URFNHU DUP DVVHPEO\ &
[ [ 5HPRYH SXVKURGV &
[ [ 5HPRYH F\OLQGHU KHDG &
[ [ 5HPRYH RLO ILOWHU &
[ [ 5HPRYH RLO SDQ &
[ [ 5HPRYH SLVWRQ DQG FRQURG &
(
3DJH
& 5HPRYDO
5HPRYLQJ F\OLQGHU OLQHU

0DUN LQVWDOODWLRQ SRVLWLRQ RI F\OLQGHU OLQHU LQ FUDQN
FDVH DUURZ
/B
2Q WKH RSSRVLWH VLGH VFUHZ VWXGV LQWR WKUHDGHG

ERUHV IRU F\OLQGHU KHDG VFUHZV
,QVHUW UHPRYDO SODWH RI UHPRYDO WRRO LQWR F\OLQGHU

OLQHU DQG ILW RQ ERWWRP FROODU RI F\OLQGHU OLQHU
0DNH VXUH WKDW UHPRYDO SODWH LV FRUUHFWO\ VHDWHG
3ODFH VXSSRUW RQ VSLQGOH DQG VWXGV DQG
WLJKWHQ
7XUQ QXW WR ZLWKGUDZ F\OLQGHU OLQHU XQWLO LW LV UH
OHDVHG IURP FUDQNFDVH ERUH
5HPRYH UHPRYDO WRRO
5HPRYH F\OLQGHU OLQHU IURP FUDQNFDVH
(
3DJH
5HPRYH 7RPEDN ULQJ DQG VHDOLQJ ULQJV IURP

FUDQNFDVH
&KHFNLQJ F\OLQGHU OLQHU IRU FUDFNV DQG FDYLWDWLRQ

&OHDQ F\OLQGHU OLQHU DQG XVLQJ PDJQHWLF FUDFNWHVW
LQJ PHWKRG DQG IOXRUHVFHQW PDJQHWLF SRZGHU FKHFN
IRU FUDFNV
,I FUDFNV DUH IRXQG UHSODFH F\OLQGHU OLQHU
&KHFN RXWHU ZDOO IRU FDYLWDWLRQ DQG SLWWLQJ UH
SODFH F\OLQGHU OLQHU DV QHFHVVDU\
,I PLQRU FDYLWDWLRQ DQG SLWWLQJ DUH IRXQG LQVHUW F\OLQ
GHU OLQHU GLVSODFHG E\
,I F\OLQGHU OLQHU KDV WR EH WXUQHG IRU UHLQVWDOODWLRQ
UHKRQH OLQHU ERUH
&KHFN VHDOLQJ DQG PDWLQJ IDFHV RQ OLQHU FROODU IRU
ZHDU DQG GDPDJH UHSODFH F\OLQGHU OLQHU LI QHFHVV
DU\
5HSODFH VHDOLQJ ULQJV DQG 7RPEDN ULQJ
&KHFNLQJ ZHDU SDWWHUQ RI F\OLQGHU OLQHUV

&KHFN ZHDU IDFH IRU IODWV VFRUHV FUDFNV DQG SLWWLQJ
UHKRQH RU UHSODFH F\OLQGHU OLQHU DV QHFHVVDU\
1RWH ,I F\OLQGHU OLQHU LV UHKRQHG LQVWDOO QHZ SLVWRQ
ULQJV 6LPLODUO\ UHKRQH OLQHU LI QHZ SLVWRQ
ULQJV DUH LQVWDOOHG
1R EXUQ PDUNV PXVW EH HYLGHQW RQ UXQQLQJ VXUIDFH
&KHFN UHYHUVLQJ SRLQW RI LQLWLDO SLVWRQ ULQJ IRU ZHDU
UHSODFH F\OLQGHU OLQHU LI QHFHVVDU\
) D
(
3DJH
:KHQ UHXVLQJ F\OLQGHU OLQHUV ZKLFK KDYH QRW EHHQ

UHKRQHG WKH KRQLQJ PXVW EH PRUH RU OHVV FOHDUO\
UHFRJQLVDEOH RYHU HQWLUH UXQQLQJ VXUIDFH
,VRODWHG PLQRU JURRYHV DUH LQVLJQLILFDQW
7KHUH PXVW EH QR VLJQV RI ZHDU DW UHYHUVLQJ SRLQW RI
LQLWLDO SLVWRQ ULQJ
) D
0HDVXUH F\OLQGHU OLQHU ,'

$GMXVW ERUH JDXJH DQG GLDO JDXJH ZLWK PLFUR
PHWHU RU JDXJH ULQJ WR EDVLF VL]H IRU F\OLQGHU OLQHU
DV SHU 7ROHUDQFH DQG :HDU /LPLWV /LVW
0HDVXULQJ F\OLQGHU OLQHU ,' ZLWK ERUH JDXJH

)RU PHDVXULQJ SRLQWV DQG OLPLW YDOXHV VHH 7ROHUDQFH
DQG :HDU /LPLWV /LVW
5HSODFH F\OLQGHU OLQHU LI PHDVXUHG YDOXHV DUH H[
FHHGHG
(
3DJH
& ,QVWDOODWLRQ
,QVWDOOLQJ F\OLQGHU OLQHU

1RWH ,I QHZ F\OLQGHU OLQHUV DUH LQVWDOOHG DVVLJQ
HDFK F\OLQGHU OLQHU WR WKH UHVSHFWLYH SLVWRQ LQ
DFFRUGDQFH ZLWK WKH WROHUDQFH JURXS GHVLJ
QDWLRQ
7KH WROHUDQFH JURXS GHVLJQDWLRQ DUURZV LV VWDPSHG
RQ WKH SLVWRQ FURZQ DQG HGJH RI OLQHU
'HVLJQDWLRQ
3LVWRQ Ã &\OLQGHU OLQHU
%$ Ã $ RU %
%& Ã % RU &
&KHFN F\OLQGHU OLQHU UHSDLU VWDJH DV SHU 7ROHUDQFH
DQG :HDU /LPLWV /LVW DQG DVVLJQ DFFRUGLQJ WR FUDQN
FDVH GDWD VKHHW
&RDW QHZ VHDOLQJ ULQJV ZLWK SHWUROHXP MHOO\ DQG

LQVHUW LQWR JURRYHV LQ FUDQNFDVH
)LW QHZ 7RPEDN ULQJ RQ F\OLQGHU OLQHU FROODU VHDW
LQ FUDQNFDVH
:LSH F\OLQGHU OLQHU DW ORZHU ILW DUURZ DQG DW FKDPIHU

LQFOLQDWLRQ WKHQ OLJKWO\ FRDW ZLWK SHWUROHXP MHOO\
(
3DJH
$FFRUGLQJ WR PDUNLQJV LQVHUW F\OLQGHU OLQHU LQ VDPH

LQVWDOODWLRQ SRVLWLRQ LQ FUDQNFDVH
1RWH ,Q HYHQW RI VOLJKW FDYLWDWLRQ RQ WKH RXWHU ZDOO
RI F\OLQGHU OLQHU LQVWDOO OLQHU RIIVHW E\ DU
URZV ZLWK UHJDUG WR SUHYLRXV LQVWDOODWLRQ
SRVLWLRQ
2Q WKH RSSRVLWH VLGH VFUHZ VWXGV LQWR WKUHDGHG

ERUHV IRU F\OLQGHU KHDG VFUHZV
)LW SUHVVXUH SODWH RQ F\OLQGHU OLQHU
3ODFH VXSSRUW DQG VSLQGOH RQ VWXGV DQG WLJKWHQ
3UHVV F\OLQGHU OLQHU LQWR FUDQNFDVH ERUH E\ WXUQLQJ
QXW
5HPRYH LQVWDOODWLRQ WRRO DQG VWXGV IURP FUDQNFDVH
1RWH ,Q RUGHU WR SUHYHQW F\OLQGHU OLQHU EHLQJ UH
OHDVHG ZKHQ SLVWRQ LV LQVWDOOHG SUHSDUH
VOHHYHV DQG F\OLQGHU KHDGV WR VHFXUH F\OLQ
GHU OLQHUV
0HDVXUH F\OLQGHU OLQHU ,'

PHWHU RU JDXJH ULQJ WR EDVLF VL]H IRU F\OLQGHU OLQHU
DV SHU 7ROHUDQFH DQG :HDU /LPLWV /LVW
(
3DJH
0HDVXULQJ F\OLQGHU OLQHU ,' ZLWK ERUH JDXJH

5HPRYH F\OLQGHU OLQHU LI OLQHU LV RXWRIURXQG
&KHFN VHDOLQJ ULQJV DUH FRUUHFWO\ SRVLWLRQHG LQ FUDQN
FDVH DQG UHSODFH
&OHDQ ERWK JURRYHV LQ FUDQNFDVH
)D
0HDVXULQJ SURMHFWLRQ RI F\OLQGHU OLQHU

0RXQW PHDVXULQJ SODWH DQG VSDFHU WXEHV ZLWK
F\OLQGHU KHDG VFUHZV RQ F\OLQGHU OLQHU
7LJKWHQLQJ WRUTXH RI F\OLQGHU KHDG VFUHZV
1P
0RXQW GLDO JDXJH ZLWK H[WHQVLRQ RQ GLDO JDXJH

KROGHU DQG ZLWK SUHORDG JXLGH WKURXJK RQH RI
WKH UHFHVVHV LQ PHDVXULQJ SODWH
6HW GLDO JDXJH WR ´µ
6KLIW GLDO JDXJH ZLWK GLDO JDXJH KROGHU IURP F\OLQGHU
OLQHU FROODU WR FUDQNFDVH
5HFRUG SURMHFWLRQ $
0HDVXUH SURMHFWLRQ RI HDFK UHFHVV ; LQ PHDVXULQJ
SODWH
6HW VFDOH RI GLDO JDXJH WR ´µ EHIRUH HDFK PHDVXUH
PHQW
'LIIHUHQFH EHWZHHQ PHDVXULQJ SRLQWV RQ HDFK F\O
LQGHU OLQHU PXVW QRW H[FHHG PD[ PP
)RU SURMHFWLRQ $ VHH 7ROHUDQFH DQG :HDU /LPLWV
/LVW
,I WKH FKHFNLQJ PHDVXUHPHQWV GHYLDWH UHPRYH F\OLQ
GHU OLQHU DQG GHWHUPLQH FDXVH
5HPRYH PHDVXULQJ SODWH DQG VSDFHU WXEHV
(
3DJH

2SHUDWLRQV 6HH

[ ,QVWDOO HQJLQH %
[ [ ,QVWDOO SLVWRQ DQG FRQURG &
[ [ ,QVWDOO RLO SDQ &
[ [ ,QVWDOO RLO ILOWHU &
[ [ ,QVWDOO F\OLQGHU KHDG &
[ [ ,QVWDOO SXVKURGV &
[ [ ,QVWDOO URFNHU DUP DVVHPEO\ &
[ [ $GMXVW YDOYH FOHDUDQFH &
[ [ &RQQHFW OHDNRII IXHO OLQHV &
[ [ ,QVWDOO +3 IXHO OLQH &
[ [ ,QVWDOO F\OLQGHU KHDG FRYHU &
[ [ ,QVWDOO H[KDXVW PDQLIROG &
[ [ ,QVWDOO WXUERFKDUJHU &
[ [ ,QVWDOO FKDUJH DLU PDQLIROG &
[ [ ,QVWDOO HQJLQH OLIWLQJ DWWDFKPHQWV &
[ [ &RQQHFW HOHFWULF FDEOHV &
[ [ ,QVWDOO FUDQNFDVH EUHDWKHU &
[ [ ,QVWDOO DLU V\VWHP EHIRUH H[KDXVW WXUERFKDUJHU
[ [ ,QVWDOO FRRODQW SLSH IURP LQWHUFRROHU &
[ )LOO RLO V\VWHP ZLWK HQJLQH RLO 2SHUDWLQJ ,QVWUXFWLRQV
[ )LOO HQJLQH FRRODQW V\VWHP 2SHUDWLQJ ,QVWUXFWLRQV
[ )LOO FKDUJH DLU FRRODQW V\VWHP 2SHUDWLQJ ,QVWUXFWLRQV
[ 5HOHDVH HQJLQH VWDUW 2SHUDWLQJ ,QVWUXFWLRQV
(
2LO 3DQ *URXS
3DJH
& 2LO 3DQ

& *HQHUDO 9LHZ
2LO SDQ XSSHU VHFWLRQ 6FUHZ
2LO SDQ 6FUHZ
*DVNHW 6FUHZ
*DVNHW 6FUHZ
6FUHZ 3OXJ
6FUHZ
7LJKWHQLQJ WRUTXH 1P
6SDFHU
3OXJ
+H[ VFUHZ
3OXJ
6SDFHU
+H[ VFUHZ
(
*URXS 2LO 3DQ
3DJH

2SHUDWLRQV 6HH
[ 5HPRYH HQJLQH %
[ [ 5HPRYH RLO SDQ JHDU FDVH IUHH HQG HOERZ & &
[ [ 5HPRYH IODQJH IURP RLO SDQ IUHH HQG &
[ [ 5HPRYH RLO ILOOHU SLSH &
[ [ 5HPRYH RLO GLSVWLFN WXEH DQG GLSVWLFN &
[ [ 5HPRYH FUDQNFDVH YHQW KRVH IURP RLO SDQ &
& 5HPRYDO

5HPRYLQJ RLO SDQ DQG RLO SDQ XSSHU VHFWLRQ
5HPRYH RLO SDQ DQG RLO SDQ XSSHU VHFWLRQ DV SHU RYHUYLHZ GUDZLQJ &
1RWH 3URWHFW VHDOLQJ VXUIDFHV RQ RLO SDQ DQG RLO SDQ XSSHU VHFWLRQ IURP PHFKDQLFDO GDPDJH MROWV HWF
&DUHIXOO\ SODFH RLO SDQ DQG RLO SDQ XSSHU VHFWLRQ RQ DSSURSULDWH VXSSRUW
5HPRYH JDVNHWV

1RWH 0DNH VXUH SDUWV DUH SHUIHFWO\ FOHDQ
&OHDQ RLO SDQ DQG RLO SDQ XSSHU VHFWLRQ DQG FDUHIXOO\ UHPRYH DQ\ UHPDLQLQJ GHWHUJHQW
&KHFN RLO SDQ DQG RLO SDQ XSSHU KRXVLQJ IRU FUDFNV XVLQJ VXUIDFH FUDFNWHVWLQJ PHWKRG ZLWK UHG SHQHWUDQW G\H
5HSODFH FRPSRQHQW LI FUDFNV DUH IRXQG
&KHFN FRPSRQHQWV IRU GDPDJH DQG ZHDU UHSDLU DV QHFHVVDU\ RU UHSODFH
&KHFN VHDOLQJ DQG PDWLQJ IDFHV IRU VXUIDFH LUUHJXODULWLHV UXE GRZQ ZLWK RLOVWRQH RU HPHU\ FORWK LI QHFHVVDU\
&KHFN PDWLQJ IDFHV RI RLO SDQ DQG RLO SDQ XSSHU VHFWLRQ IRU LUUHJXODULWLHV
,Q HYHQW RI LUUHJXODULWLHV RYHU PP UHFRQGLWLRQ PDWLQJ IDFH
&KHFN WKUHDGHG ERUHV IRU HDVH RI PRYHPHQW UHSODFH WKUHDGHG LQVHUWV DV QHFHVVDU\ VHH $
&KHFN FRQGLWLRQ RI VHFXULQJ VFUHZV DQG EODQNLQJ SOXJV DQG FKHFN WKUHDG IRU HDVH RI PRYHPHQW UHSODFH FRPSR
QHQW DV QHFHVVDU\
5HSODFH JDVNHWV
(
2LO 3DQ *URXS
3DJH
& ,QVWDOODWLRQ
,QVWDOOLQJ RLO SDQ DQG RLO SDQ XSSHU VHFWLRQ

1RWH $OZD\V PDNH VXUH WKDW DOO FRPSRQHQWV DUH
SHUIHFWO\ FOHDQ
&OHDQ DQG GHJUHDVH PDWLQJ IDFHV RI RLO SDQ XSSHU
VHFWLRQ DQG FUDQNFDVH
&RDW PDWLQJ IDFH LQ DUHD RI FUDQNFDVHIO\ZKHHO
KRXVLQJ DQG FUDQNFDVHJHDU FDVH SDUWLWLRQ DUURZV
ZLWK VHDOLQJ SDVWH
1RWH /LJKWO\ DSSO\ VHDOLQJ SDVWH WR WKH IRXU MRLQWV
,QVHUW WZR VXLWDEOH JXLGH SLQV LQWR WZR RSSRVLQJ
WKUHDGHG ERUHV RI RLO SDQ XSSHU VHFWLRQ VHFXULQJ
VFUHZV
3RVLWLRQ JDVNHW RQ VHDOLQJ VXUIDFH YLD JXLGH SLQV
&DUHIXOO\ ORZHU RLO SDQ XSSHU VHFWLRQ YLD JXLGH SLQV
RQWR FUDQNFDVH
0DNH VXUH WKDW JDVNHW LV FRUUHFWO\ VHDWHG DORQJ LWV
IXOO OHQJWK
5HPRYH JXLGH SLQV
6FUHZ LQ ORQJ VFUHZV IRU RLO SDQ VHH RYHUYLHZ GUDZ
LQJ & WR DOLJQ RLO SDQ XSSHU VHFWLRQ
6FUHZ LQ VHFXULQJ VFUHZV DQG VSDFHUV IRU RLO SDQ
XSSHU VHFWLRQ DQG WLJKWHQ HYHQO\
)LW JDVNHW RQ VHDOLQJ VXUIDFH RI RLO SDQ XSSHU VHFWLRQ
DQG VHFXUH RLO SDQ ZLWK KH[ VFUHZV DV SHU RYHUYLHZ
GUDZLQJ &
1RWH &UDQNFDVH PXVW QRW EH ORZHUHG RQWR RLO SDQ
5LVN RI RLO SDQ EUHDNLQJ
(
*URXS 2LO 3DQ
3DJH

2SHUDWLRQV 6HH
[ ,QVWDOO HQJLQH %
[ [ ,QVWDOO FUDQNFDVH YHQW KRVH &
[ [ ,QVWDOO RLO ILOOHU SLSH &
[ [ ,QVWDOO RLO GLSVWLFN JXLGH WXEH DQG GLSVWLFN &
[ [ ,QVWDOO IODQJH LQ RLO SDQ IUHH HQG &
[ [ ,QVWDOO RLO SDQ JHDU FDVH HOERZ IUHH HQG & &
(
/LIWLQJ $WWDFKPHQWV IRU (QJLQH DQG 5XQQLQJ *HDU *URXS
3DJH
& /LIWLQJ $WWDFKPHQWV IRU (QJLQH DQG 5XQQLQJ *HDU

& *HQHUDO 9LHZ
$WWDFKPHQW SODWH /LIWLQJ H\H
6FUHZ (\HEROW
$WWDFKPHQW SODWH +H[ QXW
$WWDFKPHQW SODWH +H[ VFUHZ

2SHUDWLRQV 6HH
[ 5HPRYH HQJLQH %

(
*URXS /LIWLQJ $WWDFKPHQWV IRU (QJLQH DQG 5XQQLQJ *HDU
3DJH
& 5HPRYDO

5HPRYH HQJLQH OLIWLQJ IL[WXUHV
5HPRYH HQJLQH OLIWLQJ GHYLFH DV SHU RYHUYLHZ GUDZLQJ VHH &

&OHDQ DOO FRPSRQHQWV DQG YLVXDOO\ LQVSHFW GDPDJH DQG GHIHFWV UHSDLU DV QHFHVVDU\
8VLQJ WKH VXUIDFH FUDFNWHVWLQJ PHWKRG ZLWK UHG SHQHWUDQW G\H FKHFN HQJLQH OLIWLQJ GHYLFH RQ IRU FUDFNV
,I FUDFNV DUH GHWHFWHG UHSODFH SDUW
&KHFN FRQGLWLRQ RI PDWLQJ IDFHV DQGRU VFUHZGRZQ VXUIDFHV UXE GRZQ ZLWK RLOVWRQH LI QHFHVVDU\
&KHFN FRQGLWLRQ RI WKUHDGV PDFKLQH RU UHSODFH FRPSRQHQWV DV QHFHVVDU\
& ,QVWDOODWLRQ

,QVWDOO HQJLQH OLIWLQJ DWWDFKPHQWV
,QVWDOO HQJLQH OLIWLQJ GHYLFH DV SHU RYHUYLHZ GUDZLQJ VHH &

2SHUDWLRQV 6HH

[ ,QVWDOO HQJLQH %
(
&UDQNFDVH 9HQWLODWLRQ *URXS
3DJH
& &UDQNFDVH 9HQWLODWLRQ

& *HQHUDO 9LHZ
&UDQNFDVH YHQWLODWLRQ 9
%LOG ZLUG QDFKJHVHQGHW QDFK )HUWLJVWHOOXQJ

3LFWXUH ZLOO EH VHQW DV VRRQ DV DYDLODEOH
$GDSWHU %UDFNHW
&RQQHFWRU +H[ VFUHZ
$GDSWHU 7HUPLQDO
+RVH +RVH FODPS
6WUDLJKW XQLRQ +H[ VFUHZ
+RVH FODPS 6FUHZ
6FUHZ +RVH FODPS
9LEUDWLRQ GDPSHU +RVH
6SDFHU +RVH
3OXJ 2LO VHSDUDWRU
6HDOLQJ ULQJ
(
*URXS &UDQNFDVH 9HQWLODWLRQ
3DJH
%UDFNHW +RVH
$GDSWHU *DVNHW +RVH
6FUHZ +RVH
6FUHZ +RVH
%UDFNHW
&ODPS

&RQQHFWLQJ FDEOH &ODPS
+H[ VFUHZ +RVH +RVH
2LO VHSDUDWRU 6FUHZ
6SDFHU
(
3DJH

+RVH FODPS
7HUPLQDO

8QLRQ
$GDSWHU
&RQQHFWRU 6WUDLJKW XQLRQ
+RVH

(
3DJH
+HQJVW PLVW VHSDUDWRU
6FUHZ 'LDSKUDJP
2ULQJ
7LJKWHQLQJ WRUTXH 1P 1P
2LO VHSDUDWRU KRXVLQJ
$HURVRO HOHPHQW
2ULQJ
&RYHU
&RYHU
6SULQJ
(
3DJH
2LO VHSDUDWRU
&\OLQGHU KHDG FRYHU &ODPS
%UDFNHW 6HDOLQJ ULQJ
,QVHUW ZLUH PHVK 2LO VHSDUDWRU KRXVLQJ
%UDFNHW

2SHUDWLRQV 6HH
[ 5HPRYH HQJLQH %

(
3DJH
& 5HPRYDO

5HPRYLQJ RLO VHSDUDWRU
1RWH 'R QRW GDPDJH RLO VHSDUDWRU ZKHQ UHPRYLQJ 6OLJKW LUUHJXODULWLHV HJ LQGHQWHG FRYHU FDQ UHVXOW LQ RLO VHS
DUDWRU IDLOXUH
5HOHDVH FODPSV DQG UHPRYH LQWDNH KRVHV
5HPRYH RLO VHSDUDWRU DV SHU RYHUYLHZ GUDZLQJ VHH &
5HPRYH LQGLYLGXDO FRPSRQHQWV IURP RLO VHSDUDWRU RQ F\OLQGHU KHDG FRYHU
5HPRYH 2ULQJV
$IWHU UHPRYDO VHDO DOO FRQQHFWLRQV ZLWK VXLWDEOH SOXJV
& 'LVDVVHPEO\
'LVDVVHPEOLQJ +HQJVW RLO VHSDUDWRU

5HPRYH VFUHZV DQG RQ FRYHU IRU DHURVRO
HOHPHQW DQG FRYHU IRU FUDQNFDVH SUHVVXUH UHJX
ODWLQJ YDOYH
5HPRYH FRYHU DQG 2ULQJ

5HPRYH DHURVRO HOHPHQW IURP RLO VHSDUDWRU KRXV
LQJ
(
3DJH
5HPRYH FRYHU VSULQJ DQG 2ULQJ

5HPRYH GLDSKUDJP IURP RLO VHSDUDWRU KRXVLQJ

1RWH 0DNH VXUH WKDW DLUUHWDLQLQJ DQG RLOUHWDLQLQJ FRPSRQHQWV DUH SHUIHFWO\ FOHDQ
:$51,1*
)XHOV DQG IXHO PLVWV DUH IODPPDEOH DQG SRLVRQRXV 5LVN RI ILUH H[SORVLRQV DQG SRLVRQLQJ :KHQ XVLQJ IXHO
GR QRW XVH QDNHG IODPH QR HOHFWULF VSDUNV GR QRW VPRNH GR QRW VSLOO IXHO GR QRW LQKDOH $OZD\V
ZHDU SURWHFWLYH JORYHV DQG SURWHFWLYH JRJJOHVVDIHW\ PDVN 9HQWLODWH ZRUNLQJ DUHD ZHOO
:DVK RXW HOHPHQW ZLUH PHVK LQ GLHVHO IXHO
&$87,21
%ORZ RXW LQVHUW ZLWK FRPSUHVVHG DLU
9LVXDOO\ LQVSHFW FRPSRQHQWV IRU GDPDJH DQG ZHDU UHSODFH FRPSRQHQWV DV QHFHVVDU\
,Q HYHQW RI RLO VHSDUDWRU ILOWHU VHFWLRQ +HQJVW RLO VHSDUDWRU EHLQJ FORJJHG XS ZLWK WRXJK VWLFN\ RLO VOXGJH UHSODFH
DHURVRO HOHPHQW
&KHFN VHDOLQJ DQG PDWLQJ IDFHV IRU GDPDJH DQG GHIHFWV UXE GRZQ ZLWK DQ RLOVWRQH RU UHSODFH SDUWV LI QHFHVVDU\
,I QHFHVVDU\ FKHFN KRXVLQJ IRU OHDNV ZLWK DLU XQGHU ZDWHU ZLWK FRUURVLRQ LQKLELWRU
:$51,1*
&RPSUHVVHG DLU LV KLJKO\ SUHVVXUL]HG
5LVN RI LQMXU\ 3UHVVXUH PXVW QRW H[FHHG EDU
$OZD\V ZHDU SURWHFWLYH FORWKLQJ SURWHFWLYH JORYHV DQG SURWHFWLYH JRJJOHVVDIHW\ PDVN
(
3DJH
$LU WHVW SUHVVXUH EDU

:DWHU WHPSHUDWXUH PLQ & PD[ &
&KHFN FRQGLWLRQ RI WKUHDGV UHFKDVH WKUHDGV LI QHFHVVDU\ RU UHSODFH WKUHDGHG LQVHUWV LI QHFHVVDU\
5HSODFH 2ULQJV DQG VHDOLQJ ULQJV
5HSODFH LQWDNH KRVHV GXULQJ : RYHUKDXO
&KHFNLQJ +HQJVW RLO VHSDUDWRU
+\GUDXOLFDOO\ WHVW RLO VHSDUDWRU ZLWK DLU EDU LQ ZDWHU EDWK DQGRU FKHFN GLDSKUDJP IRU OHDNV
5HSODFH GLDSKUDJP LI OHDNLQJ
1RWH 2LO VHSDUDWRU SUHVVXUH FRQWURO FDQ RQO\ EH FKHFNHG ZKHQ LQVWDOOHG ZLWK HQJLQH LQ RSHUDWLRQ 9DFXXP RU
RYHUSUHVVXUH LV PHDVXUHG HJ ZLWK ZDWHU PDQRPHWHU RYHU HQWLUH HQJLQH VSHHG UDQJH 9DOXHV VKRXOG OLH
EHWZHHQ PLQXV PEDU DQG SOXV PEDU PP ZDWHU FROXPQ
& $VVHPEO\
$VVHPEOLQJ +HQJVW RLO VHSDUDWRU

&RDW 2ULQJ DUURZ ZLWK SHWUROHXP MHOO\ DQG LQVHUW
LQWR JURRYH LQ RLO VHSDUDWRU KRXVLQJ
,QVHUW GLDSKUDJP FXUYH XSZDUGV LQWR RLO VHSDU
DWRU KRXVLQJ HQVXULQJ LW LV FRUUHFWO\ SRVLWLRQHG
)LW VSULQJ RQ GLDSKUDJP HQVXULQJ LW LV FRUUHFWO\
VHDWHG
)LW FRYHU RQ VSULQJ HQVXULQJ VSULQJ LV FRUUHFWO\

VHDWHG RQ FRYHU DQG FRYHU LV FRUUHFWO\ SRVLWLRQHG
ZLWK UHJDUG WR RLO VHSDUDWRU KRXVLQJ
,QVWDOO FRYHU ZLWK VFUHZV RQ KRXVLQJ DQG WLJKWHQ
VFUHZV GLDJRQDOO\ DQG HYHQO\ WR VSHFLILHG WLJKWHQLQJ

WRUTXH VHH &
(
3DJH
&RDW 2ULQJ ZLWK SHWUROHXP MHOO\ DQG LQVHUW LQWR

JURRYH DUURZ LQ RLO VHSDUDWRU KRXVLQJ
,QVHUW $HURVRO HOHPHQW LQWR RLO VHSDUDWRU KRXVLQJ
HQVXULQJ LW LV FRUUHFWO\ SRVLWLRQHG
,QVWDOO FRYHU ZLWK VFUHZV RQ KRXVLQJ DQG

WLJKWHQ VFUHZV WR VSHFLILHG WLJKWHQLQJ WRUTXH
VHH & 2YHUYLHZ 'UDZLQJ
&KHFN RLO VHSDUDWRU IRU OHDNV VHH & ,Q
VSHFWLRQ DQG 5HSDLU
& ,QVWDOODWLRQ
,QVWDOOLQJ RLO VHSDUDWRU

1RWH 3ULRU WR LQVWDOODWLRQ UHPRYH DOO EODQNLQJ SOXJV DQG HQVXUH RLO DQG DLUFDUU\LQJ FRPSRQHQWV DUH SHUIHFWO\
FOHDQ
&KHFN VHDOLQJ VXUIDFHV FOHDQ LI QHFHVVDU\
&RDW 2ULQJV ZLWK SHWUROHXP MHOO\ EHIRUH LQVWDOOLQJ
,QVWDOO RLO VHSDUDWRU DV SHU RYHUYLHZ GUDZLQJ VHH &
&$87,21
&RPSUHVVHG DLU LV KLJKO\ SUHVVXUL]HG 5LVN RI LQMXU\
,I FRPSUHVVHG DLU LV XVHG IRU EORZLQJ RXW RU EORZGU\LQJ FRPSRQHQWV DOZD\V ZHDU SURWHFWLYH JRJJOHV RU
VDIHW\ PDVN 3UHVVXUH PXVW QRW H[FHHG EDU
%ORZ RXW LQWDNH KRVHV ZLWK FRPSUHVVHG DLU DQG PDNH VXUH WKH\ DUH SHUIHFWO\ FOHDQ
,QVWDOO LQWDNH KRVHV ZLWK VHFXULQJ SDUWV HQVXULQJ WKH\ DUH IUHH RI WHQVLRQ DV VKRZQ LQ RYHUYLHZ GUDZLQJ
VHH &
(
3DJH

2SHUDWLRQV 6HH

[ ,QVWDOO HQJLQH %
(
*HDU 7UDLQ *URXS
3DJH
&RQWHQWV
& *HDU 7UDLQ
& )O\ZKHHO KRXVLQJ

& *HQHUDO YLHZ
& 6SHFLDO WRRO
& 5HPRYDO
& 'LVDVVHPEO\
& $VVHPEO\
& ,QVWDOODWLRQ
& *HDU FDVH IUHH HQG

& *HQHUDO YLHZ
& 6SHFLDO WRRO
& 5HPRYDO
& ,QVWDOODWLRQ
& *HDU WUDLQ IUHH HQG

& *HQHUDO YLHZ
& 6SHFLDO WRRO
& 5HPRYDO
& ,QVWDOODWLRQ
& %HOW GULYH

& *HQHUDO YLHZ
& 6SHFLDO WRRO
& 5HPRYDO
& ,QVWDOODWLRQ
(
*URXS *HDU 7UDLQ
3DJH
& *HDU 7UDLQ
7RRWK EDFNODVK PP $[LDO FOHDUDQFH PP
'ULYH JHDU DX[LOLDU\ GULYH IURP WR IRU JHDU
*HDU DX[LOLDU\ GULYH
&DPVKDIW JHDU IURP WR IRU JHDU IURP WR FDPVKDIW
&UDQNVKDIW JHDU IUHH HQG
,GOHU JHDU IURP WR IRU JHDU IURP WR
'ULYH JHDU HQJLQH FRRODQW SXPS IURP WR IRU JHDU
*HDU FKDUJH DLU FRRODQW SXPS IURP WR IRU JHDU
&UDQNVKDIW JHDU GULYLQJ HQG
'ULYH JHDU RLO SXPS IURP WR IRU JHDU
'ULYH JHDU RLO SXPS IURP WR IRU JHDU
,GOHU JHDU IURP WR IRU JHDU IURP WR
(
*HDU 7UDLQ *URXS
3DJH
&$87,21

078 ''&
(PHU\ FORWK
%RWWOH EUXVK
0DJQLI\LQJ JODVV
/LTXLG QLWURJHQ
6XUIDFH VHDODQW /RFWLWH 1R )LQDO VWUHQJWK K
0XOWLSXUSRVH JUHDVH 6KHOO 5HWLQD[
(QJLQH RLO
'HQDWXUDWHG HWKDQRO
6HDOLQJ SDVWH (ODVWRVLO 1
'U\ FRPSUHVVHG DLU


SHQHWUDQW G\H
(
*URXS *HDU 7UDLQ
3DJH
(
)O\ZKHHO +RXVLQJ *URXS
3DJH
& )O\ZKHHO +RXVLQJ

& *HQHUDO 9LHZ
)O\ZKHHO KRXVLQJ &RYHU
2ULQJ :DVKHU
:DVKHU +H[ VFUHZ
+H[ VFUHZ 2ULQJ

(QG FRYHU
+H[ VFUHZ
&ROODU VFUHZ
/XEULFDQW (QJLQH RLO %XVK
7LJKWHQLQJ WRUTXH 1P 6HDOLQJ ULQJ
+H[ VFUHZ
3OXJ
6HDOLQJ ULQJ
2ULQJ 3OXJ

&RYHU
:DVKHU
+H[ VFUHZ (QG FRYHU
(
*URXS )O\ZKHHO +RXVLQJ
3DJH
& 6SHFLDO 7RRO
$OLJQPHQW WRRO IRU IO\ZKHHO KRXVLQJ


2SHUDWLRQV 6HH
[ 5HPRYH HQJLQH %

[ 6HSDUDWH HQJLQH IURP DOWHUQDWRU
[ [ 5HPRYH FRRODQW OLQHV &
[ [ 5HPRYH RLO VXSSO\ OLQHV IRU WXUERFKDUJHUV &
[ [ 5HPRYH RLO UHWXUQ OLQHV IRU WXUERFKDUJHUV &
[ [ 5HPRYH LQWHUFRROHU &
[ [ 5HPRYH IO\ZKHHO &
[ [ 3UHVV RII KXE &
[ [ 5HPRYH VWDUWHU &
[ [ 5HPRYH VSHHG VHQVRU &
[ [ $WWDFK HQJLQH WR OLIWLQJ GHYLFH
[ [ 5HPRYH HQJLQH PRXQW GULYLQJ HQG &
(
3DJH
& 5HPRYDO
5HPRYLQJ IO\ZKHHO KRXVLQJ
:$51,1*
6XVSHQGHG ORDG
5LVN RI LQMXU\
2QO\ XVH OLIWLQJ GHYLFH SURYLGHG E\ PDQXIDF
WXUHU DQG REVHUYH OLIWLQJ LQVWUXFWLRQV
1HYHU VWDQG EHQHDWK D VXVSHQGHG ORDG
,QVWDOO H\HEROWV LQ IO\ZKHHO KRXVLQJ

$WWDFK IO\ZKHHO KRXVLQJ WR FUDQH ZLWK URSHV DQG WHQ
VLRQ URSHV HTXDOO\
0DUN DOO LQQHU DQG RXWHU VFUHZV VHH DUURZV YDU\LQJ
OHQJWKV DQG YHUVLRQV DQG UHPRYH
&DUHIXOO\ SXVK IO\ZKHHO KRXVLQJ XQGHU URSH SUHORDG
LQ GLUHFWLRQ RI GULYLQJ HQG XQWLO LW LV IUHHG IURP FUDQN
FDVH
& 'LVDVVHPEO\

5HPRYH FUDQNVKDIW EHDULQJ DQG UDGLDOOLS VKDIW VHDO 6HH &
5HPRYH FRYHU DV VKRZQ LQ *HQHUDO 9LHZ 6HH &
5HPRYLQJ HQG FRYHU D[OH IRU DX[LOLDU\ GULYH

5HPRYH KH[ VFUHZV
,QVHUW VXLWDEOH DVVHPEO\ VFUHZ LQWR WKUHDGHG ERUH
DUURZ DQG UHPRYH HQG FRYHU IURP IO\ZKHHO
KRXVLQJ
5HPRYH 2ULQJ
5HPRYLQJ HQG FRYHU

1RWH 5HSODFH HQG FRYHU RQO\ LI QHFHVVDU\ HJ LQ HYHQW RI GDPDJH
8VH D VXLWDEOH PDQGUHO DQG KDPPHU WR UHPRYH HQG FRYHU
:KHQ UHPRYLQJ HQG FRYHU WDNH FDUH QRW WR GDPDJH VHDOLQJ VXUIDFH RI ERUH
(
3DJH

&KHFN IO\ZKHHO KRXVLQJ IRU FUDFNV XVLQJ VXUIDFH FUDFNWHVWLQJ PHWKRG ZLWK UHG SHQHWUDQW G\H 5HSODFH LI FUDFNV DUH
GHWHFWHG
7KRURXJKO\ FOHDQ RLOZD\V DQG ERUHV LQ IO\ZKHHO KRXVLQJ DQG FKHFN WKDW WKH\ DUH SHUIHFWO\ FOHDQ
&KHFN WKUHDGV DQG VKDQNV RI KH[ VFUHZV IRU GDPDJH UHSODFH VFUHZV DV QHFHVVDU\
&KHFN DOO PDWLQJ DQG VHDOLQJ IDFHV DQG ILWV 5XE GRZQ ZLWK RLOVWRQH RU HPHU\ FORWK DV QHFHVVDU\
&KHFN VWXGV UHSODFH DV UHTXLUHG
&KHFN FRQGLWLRQ RI WKUHDGV LQ IO\ZKHHO KRXVLQJ UHFKDVH WKUHDGV DV QHFHVVDU\
5HSODFH 2ULQJV DQG VHDOLQJ ULQJV
0HDVXULQJ FUDQNVKDIW PDLQ EHDULQJ ERUH

ULQJ RU PLFURPHWHU WR ]HUR RI FUDQNVKDIW EHDULQJ
PDLQ ERUH
0HDVXUH GLDPHWHU RI FUDQNVKDIW EHDULQJ PDLQ ERUH

DUURZ ZLWK ERUH JDXJH
,I OLPLW YDOXHV DUH H[FHHGHG UHFRQGLWLRQ ERUH WR QH[W
UHSDLU VWDJH
& $VVHPEO\

$VVHPEOLQJ IO\ZKHHO KRXVLQJ
,QVWDOO FUDQNVKDIW EHDULQJ DQG UDGLDOOLS VKDIW VHDO 6HH &
,QVWDOO FRYHU DV VKRZQ LQ *HQHUDO 9LHZ VHH &
&RDW 2ULQJ ZLWK SHWUROHXP MHOO\ EHIRUH LQVWDOOLQJ
(
3DJH
,QVWDOOLQJ ERWWRP FRYHU

3ULRU WR LQVWDOOLQJ ORZHU FRYHU FOHDQ DQG GHJUHDVH
VHDOLQJ VXUIDFH RQ FRYHU DQG RQ IO\ZKHHO KRXVLQJ
DQG FRDW ZLWK VXUIDFH VHDODQW
,QVWDOO FRYHU ZLWK KH[ VFUHZV DQG ZDVKHUV DV VKRZQ
LQ RYHUYLHZ GUDZLQJ VHH &
1RWH (QVXUH FRUUHFW ILQDO VWUHQJWK RI VXUIDFH VHDO
DQW VHH &
,QVWDOOLQJ HQG FRYHU

1RWH 8VH RQO\ QHZ VHDOLQJ FDSV
&OHDQ DQG GHJUHDVH VHDWLQJ IDFHV RI FRYHU DQG ERUH
LQ IO\ZKHHO KRXVLQJ
&RDW VHDWLQJ IDFH RI FRYHU ZLWK WKUHDG ORFNLQJ FRP
SRXQG
8VLQJ PDQGUHO DQG KDPPHU GULYH FRYHU LQWR ERUH
LQJ DJHQW VHH &
,QVWDOOLQJ HQG FRYHU D[OH IRU DX[LOLDU\ GULYH

(QVXUH WKDW RLOZD\V DUH SDUWLFXODUO\ FOHDQ
JURRYH LQ HQG FRYHU
3UHVV HQG FRYHU LQWR IO\ZKHHO KRXVLQJ DQG WLJKWHQ
ZLWK KH[ VFUHZV

(
3DJH
& ,QVWDOODWLRQ
,QVWDOOLQJ IO\ZKHHO KRXVLQJ

1RWH 0DNH VXUH WKDW RLO ERUHV DQG RLO FKDPEHUV
DUH SHUIHFWO\ FOHDQ
&OHDQ DQG GHJUHDVH PDWLQJ IDFH RI FUDQNFDVH VHH
DUURZV DQG FRDW ZLWK VXUIDFH VHDODQW
&OHDQ DQG GHJUHDVH PDWLQJ IDFH RQ IO\ZKHHO KRXVLQJ

DUURZV
FRXQWHUVLQN LQ IO\ZKHHO KRXVLQJ
,QVWDOO H\HEROWV LQWR IO\ZKHHO KRXVLQJ
:$51,1*
6XVSHQGHG ORDG
5LVN RI LQMXU\
8VLQJ URSHV DQG FUDQH OLIW IO\ZKHHO KRXVLQJ FDUULHU

KRUL]RQWDOO\ 0DNH VXUH WKDW VWUDLQ RQ URSHV LV HTXDO
,QVHUW FHQWHULQJ ULQJ ZLWK PDUNLQJ DUURZ IDFLQJ

XSZDUGV LQWR FUDQNVKDIW EHDULQJ ERUH LQ IO\ZKHHO
KRXVLQJ
/RFN FHQWHULQJ ULQJ E\ WXUQLQJ ORFNLQJ SLQ LQ
FUDQNVKDIW EHDULQJ ERUH
(
3DJH
)LW FHQWHULQJ VOHHYH ZLWK JURRYH DUURZ IDFLQJ

XSZDUGV RQ FUDQNVKDIW DQG VHFXUH ZLWK FHQWUH VFUHZ

0RYH IO\ZKHHO KRXVLQJ ZLWK FUDQH FDUHIXOO\ LQWR SRVL

WLRQ RYHU FHQWHULQJ VOHHYH SLQ LQ JURRYH RQ FUDQN
FDVH
,QVWDOO WZR VFUHZV DQG WLJKWHQ VOLJKWO\
$OLJQ IO\ZKHHO KRXVLQJ ZLWK FUDQNFDVH
0HDVXUH KHLJKW WROHUDQFH DQG VODQW RQ FRYHU IODQJH
VXUIDFHV DUURZV IO\ZKHHO KRXVLQJ DQG FUDQNFDVH
ZLWK EULGJH PHWHU DQG GLDO JDXJH
0D[ KHLJKW WROHUDQFH PP
0D[ VODQW PP
7KH FHQWHULQJ ULQJ PXVW QRW MDP LH LW PXVW EH SRVV
LEOH WR WXUQ
)LW DOO FROODU VFUHZV KH[ VFUHZV DUURZV DQG

ZDVKHUV DQG WLJKWHQ WR VSHFLILHG WLJKWHQLQJ WRUTXH
VHH &
1RWH 3D\ DWWHQWLRQ WR PDUNLQJV DQG QRWH GLIIHULQJ
VFUHZ OHQJWKV DQG YHUVLRQV
5HPRYH DOLJQPHQW WRRO
5HPRYH URSHV DQG H\HEROWV
DQW VHH &
0HDVXUH D[LDO SOD\ RI FDPVKDIW
VHH &
(
3DJH

2SHUDWLRQV 6HH

[ ,QVWDOO HQJLQH %
[ [ ,QVWDOO HQJLQH PRXQW GULYLQJ HQG &
[ [ ,QVWDOO LQWHUFRROHU &
[ [ ,QVWDOO FRRODQW OLQHV &
[ [ ,QVWDOO RLO VXSSO\ OLQHV IRU WXUERFKDUJHUV &
[ [ ,QVWDOO RLO UHWXUQ OLQHV IRU WXUERFKDUJHUV &
[ [ 3UHVV RQ KXE &
[ [ ,QVWDOO IO\ZKHHO &
[ [ ,QVWDOO VWDUWHU &
[ [ ,QVWDOO VSHHG VHQVRU &
[ &KHFN HQJLQH DOLJQPHQW UHDOLJQ HQJLQH LI QHFHVVDU\ 6SHFLDO 3XEOLFDWLRQ
[ &RQQHFW HQJLQH WR DOWHUQDWRU
(
*HDU &DVH )UHH (QG *URXS
3DJH
& *HDU &DVH )UHH (QG

& *HQHUDO 9LHZ
*HDU FDVH FRYHU
*HDU FDVH FRYHU 6HDOLQJ ULQJ 3OXJ
&RYHU +H[ VFUHZ 6RFNHWKHDG VFUHZ
*DVNHW +H[ VFUHZ 6HDOLQJ ULQJ
+H[ VFUHZ +H[ VFUHZ +H[ VFUHZ
&RYHU +H[ VFUHZ *DVNHW
(
*URXS *HDU &DVH )UHH (QG
3DJH
*HDU FDVH
*HDU FDVH 2ULQJ &RYHU
&HQWHULQJ SLQ 6HDOLQJ ULQJ *DVNHW
6FUHZ 6FUHZ 6HDOLQJ ULQJ
&RYHU 3OXJ
6FUHZ *DVNHW 6FUHZ
6FUHZ 6FUHZ *DVNHW
3LSH &RYHU
/XEULFDQW 7KUHDGORFNLQJ OLTXLG
+H[ VFUHZ
(
3DJH
2LO UHWXUQ WR RLO SDQ JHDU FDVH RLO SDQ
(OERZ *DVNHW
&ODPS +H[ VFUHZ
)ODQJH
& 6SHFLDO 7RRO

$OLJQPHQW WRRO IRU JHDU FDVH FRYHU
3UHVVLQ PDQGUHO IRU VKDIW VHDO
(
3DJH

2SHUDWLRQV 6HH
[ 5HPRYH HQJLQH %
[ [ 5HPRYH FKDUJH DLU FRRODQW OLQHV &
[ [ 'LVFRQQHFW IXHO OLQHV & &
[ [ 'LVFRQQHFW HOHFWULF ZLULQJ &
[ [ 5HPRYH IXHO GHOLYHU\ SXPS &
[ [ 5HPRYH IXHO GXSOH[ ILOWHU &
[ [ 5HPRYH 9EHOW &
[ [ 5HPRYH IDQ GULYH &
[ [ 5HPRYH HQJLQH FRRODQW SXPS &
[ [ 5HPRYH FKDUJH DLU FRRODQW SXPS &
[ [ 5HPRYH YLEUDWLRQ GDPSHU &
[ [ 5HPRYH IODQJH IUHH HQG 9 &
[ [ 5HPRYH RLO OLQHV &
[ [ 5HPRYH JHQHUDWRU &
[ [ 5HPRYH FRRODQW SLSHZRUN KRXVLQJ &
[ [ $WWDFK HQJLQH WR OLIWLQJ GHYLFH
[ [ 5HPRYH HQJLQH PRXQWLQJ IUHH HQG &
(
3DJH
& 5HPRYDO
5HPRYLQJ JHDU FDVH FRYHU

0DUN DOO VFUHZV DURXQG FRYHU FLUFXPIHUHQFH DQG LQ
FHQWUH DUURZV GLIIHULQJ OHQJWKV YHUVLRQV DQG UH
PRYH DV SHU RYHUYLHZ GUDZLQJ VHH &
,Q RUGHU WR SUHYHQW GDPDJH WR WKH VOHHYH EHDULQJ
DQG FUDQNVKDIW MRXUQDO VHFXUH JHDU FDVH FRYHU
DJDLQVW IDOOLQJ
8VLQJ DVVHPEO\ OHYHU FDUHIXOO\ UHPRYH JHDU FDVH
FRYHU IURP JHDU FDVH WDNLQJ FDUH QRW WR GDPDJH ILW
RI GRZHO SLQ
,I QHFHVVDU\ XVH D VXLWDEOH PDQGUHO DQG KDPPHU WR
UHPRYH VKDIW VHDO IURP JHDU FDVH FRYHU
5HPRYH LQWHUPHGLDWH JHDUV DQG D[OHV
VHH &
5HPRYLQJ JHDU FDVH
:$51,1*
6XVSHQGHG ORDG
5LVN RI LQMXU\
,QVHUW WKH OLIWLQJ H\HV LQWR JHDU FDVH

$WWDFK JHDU FDVH WR FUDQH ZLWK URSHV DQG WHQVLRQ
URSHV HTXDOO\
0DUN DOO VFUHZV IRU JHDU FDVH YDU\LQJ OHQJWKV GH
VLJQV DQG UHPRYH
&DUHIXOO\ SXVK JHDU FDVH ZLWK WKH URSHV SUHWHQ
VLRQHG LQ GLUHFWLRQ RI IUHH HQG XQWLO LW LV IUHHG IURP
FUDQNFDVH
5HPRYH VHDOLQJ ULQJV DQG JDVNHW
(
3DJH

7KRURXJKO\ FOHDQ RLO ERUHV DQG RLO FKDPEHUV LQ JHDU FDVH DQG JHDU FDVH FRYHU DQG HQVXUH WKH FRPSRQHQWV DUH
SHUIHFWO\ FOHDQ
8VLQJ WKH PDJQHWLF FUDFNWHVWLQJ PHWKRG ZLWK IOXRUHVFHQW PDJQHWLF SRZGHU FKHFN JHDU FDVH DQG JHDU FDVH FRYHU
IRU FUDFNV LI FUDFNV DUH SUHVHQW UHSODFH DIIHFWHG FRPSRQHQW
&KHFN FUDQNVKDIW EHDULQJ IRU ZHDU VFRULQJ DQG PDUNV UHSODFH JHDU FDVH FRYHU LI QHFHVVDU\
&KHFN FRQGLWLRQ RI WKUHDGV LQ JHDU FDVH DQG JHDU FDVH FRYHU UHFKDVH LI QHFHVVDU\
&KHFN WKUHDGV DQG VKDQNV RI VFUHZV IRU GDPDJH UHSODFH VFUHZV DV QHFHVVDU\
&KHFN DOO PDWLQJ DQG VHDOLQJ IDFHV DQG ILWV 5XE GRZQ ZLWK RLOVWRQH RU HPHU\ FORWK DV QHFHVVDU\
&KHFN GRZHO SLQ IRU GDPDJH UHSODFH DV UHTXLUHG
5HSODFH HOERZ (ODVWRPHU GXULQJ : 0DLQWHQDQFH (FKHORQ
5HSODFH SOXJV LI QHFHVVDU\ HJ LQ HYHQW RI OHDNDJHV
5HSODFH 2ULQJV JDVNHWV DQG VHDOLQJ ULQJV DW HYHU\ DVVHPEO\
0HDVXULQJ FUDQNFDVH EHDULQJ ERUH LQ JHDU FDVH

FRYHU
PHWHU RU JDXJH ULQJ WR EDVLF VL]H IRU FUDQNVKDIW
EHDULQJ ERUH DV SHU 7ROHUDQFH DQG :HDU /LPLWV /LVW
0HDVXUH GLDPHWHU RI FUDQNVKDIW EHDULQJ ERUH ZLWK

ERUH JDXJH
,I ZHDU OLPLWV DUH H[FHHGHG UHSODFH JHDU FDVH FRYHU
(
3DJH
5HSODFLQJ SLSH LQ JHDU FDVH IUHH HQG

1RWH 2QO\ UHSODFH SLSH ZKHQ QHFHVVDU\ HJ LI GDPDJHG 3LSH LV VHFXUHG ZLWK WKUHDGORFNLQJ OLTXLG
+HDW SLSH WR DSSUR[ & DQG ZLWKGUDZ IURP WKH JHDU FDVH GULYLQJ HQG VHH &
&OHDQ DQG GHJUHDVH VHDWLQJ VXUIDFH RQ SLSH DQG ERUH LQ JHDU FDVH
&RDW VHDWLQJ IDFH RI SLSH ZLWK WKUHDGORFNLQJ DJHQW
,QVHUW SLSH LQWR ERUH XQWLO LW FRQWDFWV WKH VWRS
1RWH (QVXUH FRUUHFW ILQDO VWUHQJWK RI WKUHDGORFNLQJ DJHQW VHH &
& ,QVWDOODWLRQ
,QVWDOOLQJ JHDU FDVH

&OHDQ PDWLQJ IDFH RQ FUDQNFDVH DQG JHDU FDVH IUHH
HQG
'ULYH WZR GRZHO SLQV LQWR FUDQNFDVH
)RU SRVLWLRQLQJ WKH JDVNHWV DSSO\ D WKLQ GRWWHG FRDW
RI VHDOLQJ SDVWH WR WKH PDWLQJ VXUIDFHV RI WKH FUDQN
FDVH
,QVHUW VXLWDEOH JXLGH SLQV DUURZV LQWR FUDQNFDVH
3ODFH QHZ JDVNHW RQ WRS RI WKH JXLGH SLQV
$GMXVW JDVNHW OHQJWKZLVH DW WKH RLO SDQ PDWLQJ VXU
IDFH FXW RII
/B
&RDW VHDOLQJ ULQJV DUURZV ZLWK SHWUROHXP MHOO\ DQG

LQVHUW LQ JURRYHV RQ JHDU FDVH
(
3DJH
:$51,1*
6XVSHQGHG ORDG
5LVN RI LQMXU\
6FUHZ OLIWLQJ H\HV LQWR JHDU FDVH DQG VHFXUH WR FUDQH

ZLWK URSH
8VH FUDQH WR PRYH JHDU FDVH FDUHIXOO\ RYHU JXLGH
SLQV WDNLQJ FDUH QRW WR GDPDJH ILWV RI GRZHO SLQV
5HPRYH OLIWLQJ URSHV DQG H\HV
1RWH 7DNH QRWH RI PDUNLQJV RI WKH VFUHZV DQG QRWH
WKDW VFUHZV GLIIHU LQ OHQJWK
,QVWDOO DOO VHFXULQJ VFUHZV DQG WLJKWHQ XQLIRUPO\
&XW SURMHFWLQJ JDVNHW VR WKDW LW LV IOXVK ZLWK RLO SDQ
VHDOLQJ VXUIDFHV
DQW VHH &
&RPSOHWLQJ DQG LQVWDOOLQJ JHDU FDVH FRYHU

)LW UDGLDOOLS VKDIW VHDO ZLWK VHDOLQJ OLS IDFLQJ GRZQ
ZDUGV RQ SUHVVLQ PDQGUHO
&RDW VHDOLQJ IDFH RI UDGLDOOLS RLO VHDO ZLWK GHQDWX
UDWHG HWKDQRO
1RWH 'HQDWXUDWHG HWKDQRO DFWV DV OXEULFDQW IRU
SUHVVILWWLQJ
&OHDQ DQG GHJUHDVH VHDOLQJ IDFH IRU UDGLDOOLS RLO VHDO
LQ JHDU FDVH FRYHU
3UHVVILW UDGLDOOLS VKDIW VHDO ZLWK GULIW LQWR JHDU FDVH
FRYHU
&KHFN WKDW FOHDUDQFH RI UDGLDOOLS VKDIW VHDO LQ JHDU
FDVH FRYHU LV PP WR PP &OHDUDQFH PXVW EH XQL
IRUP DURXQG HQWLUH FLUFXPIHUHQFH
,QVWDOO LQWHUPHGLDWH JHDUV DQG D[OHV
/B
VHH &
(
3DJH
%DFN RII MDFNVFUHZ RQ DOLJQPHQW WRRO PRXQW WKH

DOLJQPHQW WRRO RQ WKH FUDQNVKDIW DQG SUHVV RQ E\
KDQG LQ GLUHFWLRQ GULYLQJ HQG
0DUNLQJ DUURZ SRLQWV XSZDUGV
/B
&OHDQ DQG GHJUHDVH PDWLQJ IDFHV DUURZV RQ JHDU

FDVH DQG JHDU FDVH FRYHU
&RDW PDWLQJ IDFH RQ JHDU FDVH ZLWK VXUIDFH VHDODQW
,QVHUW FHQWHULQJ SLQ LQWR JHDU FDVH IODW HQG RI
FHQWHULQJ SLQ IDFLQJ FUDQNVKDIW FHQWUHOLQH
/B
&DUHIXOO\ PRYH JHDU FDVH FRYHU YLD DOLJQPHQW WRRO

RQWR JHDU FDVH
1RWH 3D\ DWWHQWLRQ WR PDUNLQJV DQG GLIIHULQJ VFUHZ
OHQJWKV DQG YHUVLRQV VHH RYHUYLHZ GUDZ
LQJ
)LW DOO VHFXULQJ VFUHZV DQG ZDVKHUV DURXQG FRYHU
FLUFXPIHUHQFH DQG LQ FHQWUH DUURZV DQG WLJKWHQ XQL
IRUPO\
DQW VHH &
3UHVV RII DOLJQPHQW WRRO IURP FUDQNVKDIW XVLQJ MDFN
VFUHZ
(
3DJH

2SHUDWLRQV 6HH
[ ,QVWDOO HQJLQH %
[ [ ,QVWDOO HQJLQH PRXQWLQJ IUHH HQG &
[ [ ,QVWDOO FRRODQW FRQWURO KRXVLQJ &
[ [ ,QVWDOO IDQ GULYH &
[ [ ,QVWDOO JHQHUDWRU &
[ [ )LW IODQJH IUHH HQG 9 &
[ [ ,QVWDOO YLEUDWLRQ GDPSHU &
[ [ ,QVWDOO HQJLQH FRRODQW SXPS &
[ [ ,QVWDOO FKDUJH DLU FRRODQW SXPS &
[ [ ,QVWDOO FKDUJH DLU FRRODQW OLQHV &
[ [ ,QVWDOO DLU FRPSUHVVRU &
[ [ ,QVWDOO IXHO GHOLYHU\ SXPS &
[ [ ,QVWDOO IXHO OLQHV & &
[ [ ,QVWDOO IXHO GXSOH[ ILOWHU &
[ [ ,QVWDOO RLO OLQHV &
[ [ ,QVWDOO 9EHOW &
[ &KHFN HQJLQH DOLJQPHQW UHDOLJQ HQJLQH LI QHFHVVDU\ 6SHFLDO 3XEOLFDWLRQ
(
*HDU 7UDLQ )UHH (QG *URXS
3DJH
& *HDU 7UDLQ )UHH (QG

& *HQHUDO 9LHZ
+H[ VFUHZ ,GOHU JHDU
$[OH 6OHHYH
& 6SHFLDO 7RRO
3UHVVLQ PDQGUHO IRU VOHHYH
(
*URXS *HDU 7UDLQ )UHH (QG
3DJH
& %HIRUH 5HPRYDO
[ 5HPRYH HQJLQH %

[ [ 5HPRYH IXHO GHOLYHU\ SXPS &
[ [ 5HPRYH 9EHOW &
[ [ 5HPRYH HQJLQH FRRODQW SXPS &
[ [ 5HPRYH FKDUJH DLU FRRODQW SXPS &
[ [ 5HPRYH YLEUDWLRQ GDPSHU &
[ [ 5HPRYH IODQJH IUHH HQG 9 &
[ [ 5HPRYH RLO OLQHV &
[ [ 5HPRYH JHQHUDWRU &
[ [ 5HPRYH JHDU FDVH FRYHU &
5HPRYLQJ LQWHUPHGLDWH JHDUV DQG D[OHV

0DUN LGOHU JHDUV DQG D[OHV DFFRUGLQJ WR LQVWDOODWLRQ
SRLQW
5HPRYH VFUHZ DQG ZLWKGUDZ D[OH ZLWK LGOHU
JHDU IURP VOHHYH
5HPRYH VOHHYH IURP JHDU FDVH FRYHU
(
3DJH

8VLQJ PDJQHWLF FUDFNWHVWLQJ PHWKRG DQG IOXRUHVFHQW PDJQHWLF SRZGHU FKHFN LGOHU JHDUV IRU FUDFNV LI FUDFNV DUH
GHWHFWHG UHSODFH LGOHU JHDU
&KHFN VXUIDFH FRQGLWLRQ RI LGOHU JHDU ZLWK PDJQLI\LQJ JODVV UHSODFH LGOHU JHDU LI QHFHVVDU\
&KHFN UXQQLQJ VXUIDFH RI D[OHV EHDULQJ EXVKHV LQ LGOHU JHDUV DQG D[LDO IULFWLRQ IDFHV RI JHDUV IRU ZHDU DQG VFRUHV
5HPRYH PLQRU VFRULQJ DQG ZHDU E\ UXEELQJ GRZQ ZLWK HPHU\ FORWK RU RLOVWRQH UHSODFH FRPSRQHQW LI QHFHVVDU\
&KHFN FRQGLWLRQ RI VOHHYHV UHSODFH LI QHFHVVDU\
&KHFN VFUHZV IRU GDPDJH DQG FKHFN FRQGLWLRQ RI WKUHDGV UHSODFH VFUHZV LI QHFHVVDU\
7KRURXJKO\ FOHDQ DOO D[OH RLOZD\V PDNH VXUH RLOZD\V DUH SHUIHFWO\ FOHDQ
0HDVXULQJ EHDULQJ EXVK ERUH LQ LGOHU JHDU

6HW ERUH JDXJH WR EDVLF VL]H RI EHDULQJ EXVK ERUH LQ
LGOHU JHDU
0HDVXUH GLDPHWHU RI ERUH
,I OLPLW YDOXHV DUH H[FHHGHG UHSODFH LGOHU JHDU
0HDVXULQJ EHDULQJ GLDPHWHU RQ D[OHV

8VLQJ PLFURPHWHU PHDVXUH RXWVLGH GLDPHWHU RI
D[OHV DW UXQQLQJ VXUIDFH
5HSODFH D[OH LI OLPLW YDOXHV DUH H[FHHGHG
(
3DJH
& ,QVWDOODWLRQ

,QVWDOOLQJ LQWHUPHGLDWH JHDUV DQG D[OHV
1RWH 0DNH VXUH DOO FRPSRQHQWV DUH SHUIHFWO\
FOHDQ
8VLQJ D SUHVVLQ PDQGUHO LQVWDOO VOHHYH ILUPO\
LQ WKH DSSURSULDWH ERUH LQ JHDU FDVH FRYHU
&RDW D[OHV DQG EHDULQJ EXVKHV LQ LGOHU JHDUV ZLWK

HQJLQH RLO
0RXQW LGOHU JHDU DFFRUGLQJ WR PDUNLQJV RQ WKH
D[OHV DQG PRXQW WKH D[OHV DFFRUGLQJ WR WKHLU
PDUNLQJV ORFDWLRQ RYHU WKH VOHHYHV
)LW VFUHZ IRU JXLGH
1RWH (QVXUH D[OH RLO ERUHV DUH XQREVWUXFWHG
8VH SODVWLF PDOOHW WR GULYH D[OHV YLD WKH VOHHYHV WR

WKH VWRS
7LJKWHQ VFUHZ LQ D[OH
&KHFN HDVH RI PRYHPHQW E\ WXUQLQJ WKH LGOHU JHDUV
WKH LGOHU JHDUV PXVW WXUQ HDVLO\
(
3DJH
&KHFNLQJ D[LDO FOHDUDQFH DQG EDFNODVK

,QVWDOO JHDU FDVH FRYHU VHH &
$OLJQ PDJQHWLFEDVH LQGLFDWRU KROGHU ZLWK GLDO
JDXJH ZLWK JHDU FDVH FRYHU
3ODFH GLDO JDXJH VW\OXV ZLWK SUHORDG RQ ODWHUDO FROODU
RI LGOHU JHDU
6HW GLDO JDXJH WR ]HUR
&KHFN D[LDO SOD\ E\ PRYLQJ LGOHU JHDU EDFN DQG IRUWK
LQ D[LDO GLUHFWLRQ
7R PHDVXUH EDFNODVK SODFH VZLWFK RI 3XSSL JDXJH
ZLWK SUHORDG RQ WRRWK IODQN RI LGOHU JHDU
0RYH LGOHU JHDU EDFN DQG IRUWK LQ UDGLDO GLUHFWLRQ WR
FKHFN EDFNODVK
)RU D[LDO FOHDUDQFH DQG EDFNODVK 6HH &
/B

2SHUDWLRQV 6HH
[ ,QVWDOO HQJLQH %
[ [ 3UHVVILW IODQJH IUHH HQG &
[ [ ,QVWDOO YLEUDWLRQ GDPSHU &
[ [ ,QVWDOO HQJLQH FRRODQW SXPS &
[ [ ,QVWDOO FKDUJH DLU FRRODQW SXPS &
[ [ ,QVWDOO IXHO GHOLYHU\ SXPS &
[ [ ,QVWDOO JHQHUDWRU &
[ [ ,QVWDOO RLO OLQHV &
[ [ ,QVWDOO DQG DGMXVW 9EHOW &
(
3DJH
(
%HOW 'ULYH *URXS
3DJH
& %HOW 'ULYH

& *HQHUDO 9LHZ
%HOW SXOOH\ 9
6SDFHU ULQJ
%HOW SXOOH\
+H[ VFUHZ
(
*URXS %HOW 'ULYH
3DJH
%HOW SXOOH\ 9
%HOW SXOOH\
+H[ VFUHZ
(
%HOW 'ULYH *URXS
3DJH
%HOW SXOOH\ 9
%HOW SXOOH\
+H[ VFUHZ
(
*URXS %HOW 'ULYH
3DJH
)DQ GULYH
%HOW SXOOH\
(
%HOW 'ULYH *URXS
3DJH
)DQ GULYH
9ULEEHG EHOW
(
*URXS %HOW 'ULYH
3DJH
*HQHUDWRU GULYH
%HOW SXOOH\
9ULEEHG EHOW
& 6SHFLDO 7RRO
9EHOW WHQVLRQ JDXJH
(
%HOW 'ULYH *URXS
3DJH

2SHUDWLRQV 6HH
[ 5HPRYH HQJLQH %

[ [ 5HPRYH JXDUG
[ [ 5HPRYH IDQ ZKHHO
& 5HPRYDO

5HPRYLQJ 9ULEEHG EHOW DQG EHOW SXOOH\ IRU IDQ
GULYH
5HOHDVH EHOW WHQVLRQHU VHFXULQJ VFUHZV DQG UHOLHYH
WKH 9ULEEHG EHOW YLD WKH WLJKWHQLQJ VFUHZ
5HOHDVH IDQ FRXSOLQJ VHFXULQJ VFUHZV
7XUQ WKH WLJKWHQLQJ VFUHZ IDU HQRXJK WR DOORZ UH
PRYDO RI 9ULEEHG EHOW
5HPRYH EHOW SXOOH\ DV VKRZQ LQ *HQHUDO 9LHZ
VHH &
5HPRYH 9ULEEHG EHOW IRU JHQHUDWRU

5HOHDVH VHFXULQJ VFUHZV
6ODFNHQ ORFNQXW DQG FODPSLQJ QXW XQWLO WKH
9ULEEHG EHOWV FDQ EH UHPRYHG
(
*URXS %HOW 'ULYH
3DJH

&KHFN 9ULEEHG EHOW IRU FUDFNV IRXOLQJ E\ RLO RYHUKHDWLQJ DQG ZHDU FOHDQ RU UHSODFH 9ULEEHG EHOW LI QHFHVVDU\
1RWH 6ROYHQWV VXFK DV EHQ]HQH DQG EHQ]RO DQG VKDUSHGJHG REMHFWV PXVW QRW EH XVHG
5HSODFH 9ULEEHG EHOW GXULQJ : RYHUKDXO
&KHFN 9EHOW SXOOH\V IRU ZHDU ZDUSLQJ DQG GDPDJH UHSODFH EHOW SXOOH\ LI QHFHVVDU\
&KHFN PDWLQJ IDFH RI EHOW SXOOH\ IRU HYHQQHVV VPRRWK ZLWK DQ HPHU\ FORWK RU RLOVWRQH LI QHFHVVDU\
&KHFN VFUHZV IRU GDPDJH DQG FKHFN FRQGLWLRQ RI WKUHDGV UHSODFH VFUHZV LI QHFHVVDU\
'DPDJH FKDUDFWHULVWLFV RI 9ULEEHG EHOW

1RUPDO ZHDU
2QH RU WZR ULE IUDFWXUHV RI DERXW PP DIWHU ORQJ
XVH FDQ EH UHJDUGHG DV QRUPDO WKH 9ULEEHG EHOW
FDQ VWLOO EH XVHG
)D
7KH 9ULEEHG EHOW PXVW EH UHSODFHG VLQFH WKH ULEV DUH

EURNHQ URXQG WKH HQWLUH FLUFXPIHUHQFH
)D
(
%HOW 'ULYH *URXS
3DJH
7KH 9ULEEHG EHOW PXVW EH UHSODFHG LPPHGLDWHO\

VLQFH WKH ULE PDWHULDO LV EURNHQ DQG WKH ULEV DUH
EURNHQ URXQG WKH HQWLUH FLUFXPIHUHQFH
)D
& ,QVWDOODWLRQ
,QVWDOOLQJ EHOW SXOOH\ DQG 9ULEEHG EHOW IRU IDQ

GULYH DGMXVWLQJ 9EHOW WHQVLRQ
&KHFN PDWLQJ VXUIDFHV RQ EHOW SXOOH\ DQG IDQ FRXSO
LQJ FOHDQ LI QHFHVVDU\
,QVWDOO EHOW SXOOH\ DV VKRZQ LQ *HQHUDO 9LHZ DQG
WLJKWHQ KH[ EROWV LQ GLDJRQDOO\ RSSRVLWH VHTXHQFH WR
VSHFLILHG WLJKWHQLQJ WRUTXH VHH &
&KHFN 9EHOW SXOOH\ RQ IDQ FRXSOLQJ DQG FUDQNVKDIW
IRU FRQWDPLQDWLRQ FOHDQ LI QHFHVVDU\
3ODFH QHZ 9ULEEHG EHOW LQ SRVLWLRQ
3UHWHQVLRQ 9ULEEHG EHOW ZLWK WLJKWHQLQJ EROW
7LJKWHQ IRU FRXSOLQJ VHFXULQJ VFUHZV WR VSHFLILHG
WLJKWHQLQJ WRUTXH VHH &
7LJKWHQ WKH 9ULEEHG EHOW ZLWK WLJKWHQLQJ EROW
1RWH 7XUQ WKH WLJKWHQLQJ EROW WR WKH ULJKW WR LQ
FUHDVH 9ULEEHG EHOW WHQVLRQ
(
*URXS %HOW 'ULYH
3DJH
3ODFH 9EHOW WHQVLRQ JDXJH RQ 9EHOW LQ FHQWUH

DUURZ EHWZHHQ EHOW SXOOH\V
6HWWLQJV
1HZ 9ULEEHG EHOW IURP NJ WR NJ
5XQLQ 9ULEEHG EHOW NJ
,I PHDVXUHG YDOXH GRHV QRW FRUUHVSRQG WR SUHVFULEHG

VHW YDOXH FRUUHFW 9EHOW WHQVLRQ ZLWK WLJKWHQLQJ EROW
DQG WKHQ WLJKWHQ WKH VHFXULQJ VFUHZV
1RWH $IWHU DSSUR[ PLQXWHV RI HQJLQH RSHUDWLRQ
FKHFN 9EHOW WHQVLRQ RQFH DJDLQ UHWHQVLRQ DV
QHFHVVDU\ $IWHU DSSUR[ KRXUV RI HQJLQH
RSHUDWLRQ FKHFN 9EHOW WHQVLRQ RQFH DJDLQ
UHWHQVLRQ DV QHFHVVDU\
,QVWDOOLQJ EHOW SXOOH\ IRU JHQHUDWRU DQG DGMXVWLQJ

9EHOW WHQVLRQ
&KHFN 9EHOW SXOOH\ IRU FRQWDPLQDWLRQ FOHDQ LI
QHFHVVDU\
3ODFH QHZ 9ULEEHG EHOW LQ SRVLWLRQ
7HQVLRQ 9ULEEHG EHOW ZLWK FODPSLQJ QXW
3ODFH 9EHOW WHQVLRQ JDXJH RQ 9ULEEHG EHOW LQ FHQWUH
DUURZ EHWZHHQ EHOW SXOOH\V
6HWWLQJV
1HZ 9ULEEHG EHOW IURP NJ WR NJ
5XQLQ 9ULEEHG EHOW NJ
(
%HOW 'ULYH *URXS
3DJH
,I PHDVXUHG YDOXH GRHV QRW FRUUHVSRQG WR SUHVFULEHG

VHW YDOXH FRUUHFW 9EHOW WHQVLRQ ZLWK FODPSLQJ QXW
DQG WKHQ WLJKWHQ ORFNQXW
7LJKWHQ VHFXULQJ VFUHZV WR VSHFLILHG WLJKWHQLQJ
WRUTXH VHH &
1RWH $IWHU DSSUR[ PLQXWHV RI HQJLQH RSHUDWLRQ
FKHFN 9EHOW WHQVLRQ RQFH DJDLQ UHWHQVLRQ DV
QHFHVVDU\ $IWHU DSSUR[ KRXUV RI HQJLQH
RSHUDWLRQ FKHFN 9EHOW WHQVLRQ RQFH DJDLQ
UHWHQVLRQ DV QHFHVVDU\

2SHUDWLRQV 6HH

[ ,QVWDOO HQJLQH %
[ [ ,QVWDOO IDQ ZKHHO
[ [ ,QVWDOO JXDUG
(
*URXS %HOW 'ULYH
3DJH
(
5XQQLQJ *HDU *URXS
3DJH
&RQWHQWV
& 5XQQLQJ *HDU
& &UDQNVKDIW

& *HQHUDO YLHZ
& 6SHFLDO WRRO
& 5HPRYDO
& $VVHPEO\
& 'LVDVVHPEO\
& ,QVWDOODWLRQ
& 372 GULYLQJ HQG

& *HQHUDO YLHZ
& 6SHFLDO WRRO
& 5HPRYDO
& $VVHPEO\
& 'LVDVVHPEO\
& ,QVWDOODWLRQ
& 372 IUHH HQG

& *HQHUDO YLHZ
& 6SHFLDO WRRO
& 5HPRYDO
& $VVHPEO\
& 'LVDVVHPEO\
& ,QVWDOODWLRQ
(
*URXS 5XQQLQJ *HDU
3DJH
& 3LVWRQV DQG FRQURGV

& *HQHUDO YLHZ
& 6SHFLDO WRRO
& 5HPRYDO
& $VVHPEO\
& 'LVDVVHPEO\
& ,QVWDOODWLRQ
(
5XQQLQJ *HDU *URXS
3DJH
& 5XQQLQJ *HDU
)O\ZKHHO &RQURG
+XE &UDQNVKDIW
5LQJ JHDU &UDQNVKDIW JHDU IUHH HQG
&UDQNVKDIW JHDU GULYLQJ HQG 9LEUDWLRQ GDPSHU
3LVWRQ
(
*URXS 5XQQLQJ *HDU
3DJH
&$87,21
:KHQ XVLQJ WKHVH PLVFHOODQHRXV PDWHULDOV LW LV HVVHQWLDO WR REVHUYH WKH PDQXIDFWXUHU·V LQVWUXFWLRQV IRU
0DWHULDOV DQG FRQVXPDEOHV 'HVLJQDWLRQ 078 2UGHU 1R 5HPDUNV

&KDPRLV OHDWKHU
%RWWOH EUXVK
5ROOHU EUXVK
%UDVV EUXVK
(PHU\ FORWK
0DJQLI\LQJ JODVV
6SUD\ JXQ
,QVSHFWLRQ ODPS
(QGRVFRSH ZLWK FROG OLJKW
/LTXLG QLWURJHQ
'HQDWXUDWHG HWKDQRO
6XUIDFH VHDODQW /RFWLWH 1R )LQDO VWUHQJWK K
7KLQILOP OXEULFDQW 0RO\FRWH J1 SOXV
(QJLQH RLO
&OHDQLQJ DJHQW FDUERQGHSRVLW UHPRYHU 0HLVWHU 3URSHU
'U\ FRPSUHVVHG DLU


SHQHWUDQW G\H

(
&UDQNVKDIW *URXS
3DJH
& &UDQNVKDIW

& *HQHUDO 9LHZ
&UDQNVKDIW LQ FUDQNFDVH
&UDQNFDVH
)ULFWLRQ ZDVKHU
'RXEOHKH[ VFUHZ
+H[ VFUHZ
0D[ VKDIW OHQJWK PP
%HDULQJ FDS
&UDQNVKDIW
&UDQNVKDIW EHDULQJ
7LJKWHQLQJ VHTXHQFH +H[ VFUHZV EHIRUH GRXEOHKH[ VFUHZV
(
*URXS &UDQNVKDIW
3DJH
&UDQNVKDIW D[LDO DOLJQPHQW EHDULQJ
)ULFWLRQ ZDVKHUV
(
&UDQNVKDIW *URXS
3DJH
&UDQNVKDIW
&UDQNVKDIW
&RXQWHUZHLJKW
6FUHZ
0D[ VKDIW OHQJWK PP
$GGLWLRQDO
DQJOH RI URWDWLRQ
&UDQNVKDIW JHDU GULYLQJ HQG
&UDQNVKDIW JHDU IUHH HQG
& 6SHFLDO 7RRO

$VVHPEO\ VFUHZV IRU FUDQNVKDIW LQ FUDQNFDVH
3XOOHU IRU FUDQNVKDIW JHDUV
$VVHPEO\ GHYLFH IRU FUDQNVKDIW JHDU IUHH HQG
$OLJQPHQW WRRO IRU FUDQNVKDIW JHDU GULYLQJ HQG

2SHUDWLRQV 6HH
[ 5HPRYH HQJLQH %
[ [ 5HPRYDO RI FUDQNVKDIW QRW VFKHGXOHG
(
*URXS &UDQNVKDIW
3DJH
& 5HPRYDO
&KHFNLQJ PDUNLQJV RI PDLQ EHDULQJ FDS DQG KH[

VFUHZV
&KHFN PDUNLQJ RI PDLQ EHDULQJ FDS LQ UHVSHFW WR
FUDQNFDVH DQG FRQVHFXWLYH QXPEHULQJ RI KH[
VFUHZV DQG DSSO\ PDUNV DV QHFHVVDU\
D 6WDUWLQJ DW GULYLQJ HQG VWDPS QXPEHU RI PDLQ
EHDULQJ ZLWK PP QXPEHUV VR WKDW WKH\ FDQ EH
UHDG IURP VDPH GLUHFWLRQ
5HPRYLQJ PDLQ EHDULQJ FDSV

7XUQ FUDQNFDVH XSVLGH GRZQ LQ DVVHPEO\ GROO\ ZLWK
RLO SDQ PDWLQJ IDFH KRUL]RQWDO
WLPH
5HPRYH DOO VLGH GRXEOHKH[ VFUHZV IRU FUDQNVKDIW
EHDULQJ FDS ZLWK UDWFKHW DQG VRFNHW
/B

WLPH
5HPRYH KH[ VFUHZV IRU FUDQNVKDIW EHDULQJ FDS ZLWK
UDWFKHW DQG VRFNHW
(
&UDQNVKDIW *URXS
3DJH
&$87,21
5LVN RI LQMXU\
WLYH JORYHV
&DUHIXOO\ UDLVH DOO EHDULQJ FDSV YHUWLFDOO\ XQWLO FOHDU RI
FUDQNFDVH
0DUN EHDULQJ VKHOO RI UHVSHFWLYH EHDULQJ FDS DQG
UHPRYH
1RWH 3URWHFW EHDULQJ VKHOOV IURP GDPDJH
5HPRYH IULFWLRQ ZDVKHUV
5HPRYH FUDQNVKDIW
7R SURWHFW FUDQNVKDIW LQVHUW IRXU DVVHPEO\ EROWV RQ
ILUVW DQG ODVW EHDULQJ
:$51,1*
6XVSHQGHG ORDG
5LVN RI LQMXU\
8VLQJ URSH ORRSV DQG FUDQH UDLVH FUDQNVKDIW

FOHDU RI FUDQNFDVH
7DNH FDUH WR NHHS FUDQNVKDIW KRUL]RQWDO
/RZHU FUDQNVKDIW RQWR VWXUG\ DVVHPEO\ IUDPH
5HPRYH DVVHPEO\ EROWV
0DUN EHDULQJ VKHOOV RQ KRXVLQJ VLGH WR FUDQNVKDIW
EHDULQJ FDS DQG UHPRYH IURP FUDQNFDVH
(
*URXS &UDQNVKDIW
3DJH
& 'LVDVVHPEO\
5HPRYLQJ FUDQNVKDIW JHDU GULYLQJ HQG DQG IUHH

HQG
1RWH 'R QRW UHPRYH JHDU XQOHVV QHFHVVDU\ HJ
GDPDJH
5HPRYH FUDQNVKDIW JHDU GULYLQJ HQG RU FUDQN
VKDIW JHDU IUHH HQG IURP FUDQNVKDIW
$OZD\V FRQVXOW 078 RU ''& EHIRUH UHPRYLQJ JHDUV
5HPRYLQJ FRXQWHUZHLJKWV
1RWH ,I FRXQWHUZHLJKWV DUH UHPRYHG DIWHU EDODQF
LQJ PDUN UHOHYDQW FRXQWHUZHLJKW LQ LWV LQ
VWDOODWLRQ SRVLWLRQ ZLWK UHJDUG WR FUDQNVKDIW
EHIRUHKDQG
'HWHUPLQH DQG UHFRUG GLVWDQFH $ ZHE WR FRXQWHU
ZHLJKW
$SSO\ PDUN E
&KHFN WKDW FRXQWHUZHLJKWV DUH QXPEHUHG LQ FRQ
VHFXWLYH RUGHU VWDPS QHZ QXPEHUV LI QHFHVVDU\
1RWH 5HPRYH FRXQWHUZHLJKWV ZLWK FUDQNVKDIW LQ D

VWXUG\ VWDQG
5HPRYH VFUHZV DQG FRXQWHUZHLJKW
(
&UDQNVKDIW *URXS
3DJH

&OHDQLQJ DQG FKHFNLQJ FUDQNVKDIW
&OHDQ FUDQNVKDIW ZLWK FROG FOHDQHU
&$87,21
8VLQJ VXLWDEOH ERWWOH EUXVK DQG FROG FOHDQHU WKRURXJKO\ FOHDQ DOO FUDQNVKDIW ERUHV DQG EORZ WKURXJK ZLWK FRP
SUHVVHG DLU
&KHFN WKDW DOO WKUHDGV DUH LQ SHUIHFW FRQGLWLRQ
&KHFN FRXQWHUZHLJKW PDWLQJ IDFHV IRU ZHDU PDFKLQHJULQG LI QHFHVVDU\
&KHFNLQJ FUDQNVKDIW IRU FUDFNV

8VLQJ WKH PDJQHWLF FUDFNWHVWLQJ PHWKRG ZLWK IOXRU
HVFHQW PDJQHWLF SRZGHU FKHFN FUDQNVKDIW IRU ORQJL
WXGLQDO DQG WUDQVYHUVH FUDFNV ,QFOXGH RLO ERUHV DQG
MRXUQDO ERUHV MRXUQDO WUDQVLWLRQ UDGLL FRXQWHU
ZHLJKW PDWLQJ IDFHV DQG WKUHDGHG ERUHV LQ
VFRSH RI LQVSHFWLRQ
,QVWDOO FUDQNVKDIW LQ ORQJLWXGLQDO GLUHFWLRQ EHWZHHQ
MDZV RI WHVW GHYLFH
)RU WKH WHVW D PDJQHWLF HOHFWULF ILHOG VWUHQJWK RI
$FP WR $FP PXVW EH DSSOLHG DW HYHU\ SDUW RI
WKH FRPSRQHQW
'HPDJQHWL]H FUDQNVKDIW DIWHU FUDFNWHVWLQJ 7KH
PD[LPXP SHUPLVVLEOH UHVLGXDO ILHOG VWUHQJWK DIWHU
GHPDJQHWL]DWLRQ LV $FP WR $FP
1RWH $ FRPSRQHQW LV FRQVLGHUHG VXIILFLHQWO\ GH
PDJQHWL]HG ZKHQ D SDSHU FOLS VXVSHQGHG RQ
D WKUHDG LV QR ORQJHU DWWUDFWHG E\ WKH FRPSR
QHQW
(
*URXS &UDQNVKDIW
3DJH
,QIRUPDWLRQ RQ WKHUPDO FUDFNV

&KDUDFWHULVWLF RI KRWUXQQLQJ FUDFNV LV WKDW WKH\ DUH
DOPRVW DOZD\V SDUDOOHO WR WKH D[LV RI WKH FRPSRQHQW
VHH DUURZV
7UDQVYHUVH FUDFNV VRPHWLPHV FRPH RXW IURP WKHVH
FUDFNV +HDY\ WKHUPDO FUDFNV DUH PRVWO\ RI D GHSWK
DSSUR[LPDWHO\ FRUUHVSRQGLQJ WR WKH WKLFNQHVV RI WKH
KDUGQHVV OD\HU 5HSODFH FUDQNVKDIW ZLWK VXFK FUDFNV
&UDQNVKDIWV H[KLELWLQJ PLQRU KRWUXQQLQJ FUDFNV FDQ
EH UHSDLUHG 7KLV LV SURYLGHG WKDW UHJULQGLQJ WR D UH
SDLU VWDJH RU ORFDO JULQGLQJ ZLOO UHPRYH WKH GDPDJH
&DUHIXOO\ UHJULQG WKH DIIHFWHG EHDULQJ MRXUQDOV DF
FRUGLQJ WR FUDFN GHSWK DSSUR[LPDWHO\ WR D SHUPLVV
LEOH UHSDLU VL]H 0LQRU FUDFNV FDQ DOVR EH UHSDLUHG E\
ORFDO JULQGLQJ
/B
3UHOLPLQDU\ JULQGLQJ PXVW EH FDUULHG RXW EHIRUH WKH
DIWHUFXULQJ RWKHUZLVH WKHUH LV WKH GDQJHU WKDW WKH
WKHUPDO FUDFNV ZLOO LQFUHDVH LQ OHQJWK DQG GHSWK
*ULQG WR VSHFLILHG UHSDLU VWDJH RQO\ DIWHU EHDULQJ
MRXUQDOV KDYH EHHQ KDUGHQHG
,QIRUPDWLRQ RQ JULQGLQJ FUDFNV

)LQH EUDQFKLQJ LV FKDUDFWHULVWLF RI WKHUPDO FUDFNLQJ
DUURZV 7KH LOOXVWUDWLRQ VKRZV D EHDULQJ MRXUQDO
ZLWK JULQGLQJ FUDFNV
5HSODFH FUDQNVKDIW ZLWK VXFK FUDFNV
*ULQG FUDFNV RFFXU RQ DFFRXQW RI LQVXIILFLHQW FRROLQJ
GXULQJ JULQGLQJ RU WKURXJK H[FHVVLYH IHHG

(
&UDQNVKDIW *URXS
3DJH
&KHFNLQJ FUDQNVKDIW MRXUQDO

%XUQLVK DOO MRXUQDOV ZLWK HPHU\ FORWK JUDQXODWLRQ
3
6WDQGDUGLVHG URXJKQHVV KHLJKW 5] RI MRXUQDO VOLGLQJ
VXUIDFH NP
3ROLVK DOO ILOOHWV DQG WUDQVLWLRQV
&KHFN PDLQ EHDULQJ DQG FUDQNSLQ VXUIDFHV IRU VFRU
LQJ DQG GDPDJH ,I QHFHVVDU\ UHJULQG UHOHYDQW MRXU
QDO WR QH[W UHSDLU VWDJH
&KHFN IULFWLRQ ZDVKHU VOLGLQJ VXUIDFH RI ILUVW PDLQ
EHDULQJ IRU ZHDU 5HJULQG WR QH[W UHSDLU VWDJH LI
QHFHVVDU\
5HPRYH PLQRU VFRULQJ DQG GDPDJH E\ SROLVKLQJ ZLWK
HPHU\ FORWK
0HDVXULQJ FUDQNVKDIW MRXUQDO

8VLQJ PLFURPHWHU PHDVXUH PDLQ EHDULQJV DQG
FUDQNSLQV RI FUDQNVKDIW IRU RXWRIURXQG DQG VXU
IDFH LUUHJXODULWLHV UHFRUG PHDVXUHG YDOXHV LQ 'DWD
6KHHW
,I OLPLW YDOXHV DUH H[FHHGHG JULQG FUDQNVKDIW WR QH[W
UHSDLU VL]H
0HDVXUH ZLGWK RI JXLGH EHDULQJ ZLWK LQVLGH PLFUR

PHWHU DQG HQWHU YDOXHV LQ 'DWD 6KHHW
,I OLPLW YDOXHV DUH H[FHHGHG JULQG FUDQNVKDIW WR QH[W
UHSDLU VL]H
(
*URXS &UDQNVKDIW
3DJH
&KHFNLQJ FUDQNVKDIW WDSHU

&KHFN WDSHU VXUIDFHV DUURZV IRU VFRULQJ DQG GDP
DJH
HPHU\ FORWK
&KHFN WDSHUV ZLWK WDSHU JDXJH
,I QHFHVVDU\ PDFKLQH WDSHU WR 078''& VSHFLILFD
WLRQV
&KHFNLQJ KDUGQHVV RI MRXUQDOV

&KHFN KDUGQHVV RI DOO MRXUQDOV XVLQJ WKH 0LFURGXU
WHVWHU RU RWKHU VXLWDEOH KDUGQHVV WHVWHU
7HVW KDUGQHVV RI HDFK MRXUQDO DW IRXU SRLQWV DW
LQWHUYDOV DURXQG FLUFXPIHUHQFH
6SHFLILHG KDUGQHVV IURP +5& WR +5&
5HKDUGHQLQJ LV QHFHVVDU\ LI D EHDULQJ MRXUQDO KDV
ORVW LWV KDUGQHVV RQ DFFRXQW RI EHDULQJ VFXIILQJ
(
&UDQNVKDIW *URXS
3DJH
&KHFNLQJ FUDQNVKDIW FRQFHQWULFLW\

,OOXVWUDWLRQ VKRZLQJ 9 FUDQNVKDIW
)L[HG PRXQW UROOHU VWDQG ULJLG
'LDO JDXJH
0DJQHWLFEDVH LQGLFDWRU KROGHU
6XSSRUW EHDULQJ UROOHU VWDQG VOLGLQJ YHUVLRQ
3ODFH FUDQNVKDIWV ZLWK UROOHU VWDQGV XQGHU IROORZLQJ EHDULQJ MRXUQDOV

9 -RXUQDO DQG IL[HG PRXQW
9 -RXUQDO DQG IL[HG PRXQW
-RXUQDO IORDWLQJ VXSSRUW PRXQW
8VLQJ DGMXVWDEOH GLDO JDXJH KROGHU DQG GLDO JDXJH FKHFN PDLQ EHDULQJ MRXUQDO FRQFHQWULFLW\
,I ZHDU DFURVV FLUFXPIHUHQFH RI MRXUQDO LV LUUHJXODU FKHFN DW WUDQVLWLRQ IURP F\OLQGULFDO VHFWLRQ RI MRXUQDO WR UDGLXV
,I PHDVXUHG YDOXHV GLIIHU IURP WKRVH VSHFLILHG LQ 7ROHUDQFH DQG :HDU /LPLWV /LVW JULQG UHOHYDQW MRXUQDOV WR QH[W UH
SDLU VWDJH
1RWH 'R QRW VWUDLJKWHQ FUDQNVKDIW DIWHU KDUGHQLQJ
$OZD\V FRQVXOW 078''& EHIRUH KDUGHQLQJ DQG JULQGLQJ MRXUQDOV RI FUDQNVKDIW
(
*URXS &UDQNVKDIW
3DJH
5HJULQGLQJ FUDQNVKDIW
2QO\ MRXUQDOV ZKLFK DUH QRW GLPHQVLRQDOO\ VWDEOH PXVW EH UHFRQGLWLRQHG WR QH[W UHSDLU VWDJH
:KHQ UHJULQGLQJ PDNH HYHU\ HIIRUW WR UHPRYH RQO\ DV PXFK PDWHULDO DV LV UHTXLUHG WR DFKLHYH QH[W UHSDLU VL]H
$GKHUH VWULFWO\ WR DOO VSHFLILFDWLRQV IRU VL]HV DQG WROHUDQFHV
7KLV DOVR DSSOLHV WR WUDQVLWLRQ UDGLL DQG VXUIDFH ILQLVK
5HFRUG PDLQ EHDULQJ MRXUQDO DQG FUDQNSLQ GLDPHWHUV JXLGH EHDULQJ ZLGWK FRQFHQWULFLW\ YDOXHV DQG MRXUQDO KDUG
QHVV YDOXHV LQ &UDQNVKDIW 'DWD 6KHHW
7KRURXJKO\ FOHDQ RLO ERUHV DIWHU JULQGLQJ
1HFHVVDU\ FKHFNV DIWHU JULQGLQJ
&KHFN GLPHQVLRQV DQG VXUIDFH ILQLVK RI DOO EHDULQJ MRXUQDOV
&KHFN UDGLL DW EHDULQJ MRXUQDOV
&KHFN WKDW RLOZD\ ERUHV DUH FRUUHFWO\ UDGLXVHG DQG SROLVKHG
SHUIRUP WKLV FKHFN ZLWK PHWLFXORXV FDUH LQ RUGHU WR SUHYHQW GDPDJH WR WKH EHDULQJ VKHOOV
DQG HQVXUH DGHTXDWH OXEULFDWLRQ
&KHFN FRQFHQWULFLW\ DQG D[LDO UXQRXW
&KHFN KDUGQHVV
&KHFN IRU FUDFNV
&KHFNLQJ FRXQWHUZHLJKWV
HVFHQW PDJQHWLF SRZGHU FKHFN FRXQWHUZHLJKW IRU
FUDFNV
,I FUDFNV DUH GHWHFWHG UHSODFH FRXQWHUZHLJKW
&KHFN FUDQNVKDIW PDWLQJ IDFH IRU ZHDU PDFKLQH
JULQG LI QHFHVVDU\
8VLQJ HQJLQHHU·V EOXH FKHFN FRQWDFW SDWWHUQ RI PDW
LQJ IDFH IRU VWUHVV EROW KHDGV UHPRYH VXUIDFH
LUUHJXODULWLHV DV QHFHVVDU\
&KHFNLQJ VFUHZV IRU FRXQWHUZHLJKWV

0HDVXUH VKDIW OHQJWK RI VFUHZV ZLWK GHSWK JDXJH
PD[ SHUPLVVLEOH VKDIW OHQJWK VHH & 5H
SODFH VFUHZV LI QHFHVVDU\
HVFHQW PDJQHWLF SRZGHU FKHFN VFUHZV IRU FUDFNV
5HSODFH VFUHZ LI FUDFNV DUH IRXQG
0DNH VXUH WKDW WKUHDGV DUH LQ SHUIHFW FRQGLWLRQ
) D
(
&UDQNVKDIW *URXS
3DJH
&KHFNLQJ GULYH JHDU GULYLQJ HQG DQG GULYH JHDU

IUHH HQG
HVFHQW PDJQHWLF SRZGHU FKHFN JHDU IRU FUDFNV
5HSODFH JHDU LI FUDFNV DUH IRXQG
&KHFN JHDU IRU ZHDU VPRRWK ZLWK RLOVWRQH RU SROLVK
LQJ FORWK LI QHFHVVDU\ RU UHSODFH JHDU
&KHFN ERUH VXUIDFHV DUURZV IRU VFRULQJ DQG GDP
DJH
HPHU\ FORWK
&KHFNLQJ DQG DVVHVVLQJ FUDQNVKDIW EHDULQJ

VKHOOV
1RWH 8SSHU DQG ORZHU EHDULQJ VKHOOV KDYH GLIIHUHQW
SDUW QXPEHUV GLIIHULQJ YHUVLRQV
5HSODFH EHDULQJ VKHOOV DV SDUW RI HYHU\ : RYHUKDXO
&KHFN EHDULQJ VKHOOV IRU ZHDU VFRULQJ FUDFNLQJ FRU
URVLRQ DQG GDPDJH UHSODFH LI QHFHVVDU\
%HDULQJ VKHOO KDV WKH IROORZLQJ PDWHULDO VWUXFWXUH
6OLGLQJ OD\HU IURP mP WR mP
,QWHUPHGLDWH OD\HU QLFNHO EDUULHU
%HDULQJ PHWDO
6WHHO VXSSRUW VKHOO
$Q LPSRUWDQW LQGLFDWRU IRU DVVHVVLQJ H[WHQW RI ZHDU
RQ EHDULQJ VKHOO LV WKH VKDSH DQG H[WHQW RI WKH QLFNHO
EDUULHU DUHDV H[SRVHG
8VDELOLW\ RI EHDULQJ VKHOO LV UHVWULFWHG DW RI VOLG
LQJ OD\HU LQ IULFWLRQ DUHD
1RWH ,W LV RIWHQ GLIILFXOW WR GLIIHUHQWLDWH EHWZHHQ WKH
KDUG QLFNHO EDUULHU DQG VRIWHU VOLGLQJ OD\HU ,I
LQ GRXEW FRQVXOW D EHDULQJ VSHFLDOLVW
&KHFN EHDULQJ VKHOO EXWWLQJ IDFH DQG UHDU VLGH RI
EHDULQJ IRU IULFWLRQ FRUURVLRQ DQG SLWWLQJ ,I IULFWLRQ
FRUURVLRQ LV IRXQG UHSODFH EHDULQJ VKHOO DQG GHWHU
PLQH FDXVH
3RVVLEOH FDXVHV 6FUHZV LQVXIILFLHQWO\ SUHWHQVLRQHG
DVVHPEO\ IDXOW H[SDQVLRQ GLPHQVLRQ RI EHDULQJ VKHOO
RXWVLGH WROHUDQFH DQG IDXOW\ EHDULQJ VXSSRUW ERUH
0HDVXUH H[SDQVLRQ GLPHQVLRQ RI EHDULQJ VKHOOV
,I H[SDQVLRQ GLPHQVLRQ VHH 7ROHUDQFH DQG :HDU
/LPLWV /LVW LV QRW UHDFKHG UHSODFH EHDULQJ VKHOO
(
*URXS &UDQNVKDIW
3DJH
&KHFNLQJ IULFWLRQ ZDVKHUV

5HSODFH IULFWLRQ ZDVKHUV GXULQJ : RYHUKDXO
&KHFN IULFWLRQ ZDVKHUV IRU VFRULQJ DQG GDPDJH DQG
UHSODFH LI QHFHVVDU\
&KHFN VWHHO EXVK DUURZ LV VHFXUHO\ VHDWHG DQG
FKHFN ERUH IRU ZHDU 5HSODFH IULFWLRQ ZDVKHU LI
QHFHVVDU\
(
&UDQNVKDIW *URXS
3DJH
'\QDPLF EDODQFLQJ
,OOXVWUDWLRQ VKRZLQJ 9 FUDQNVKDIW
3ULRU WR EDODQFLQJ VHDO DOO RLOZD\V WR SUHYHQW WKH LQJUHVV RI IRUHLJQ PDWWHU
9 3ODFH FUDQNVKDIW LQ PDLQ MRXUQDOV DQG

7KH EDODQFLQJ OHYHOV DUH LQ PDLQ MRXUQDOV DQG
0DVV RI EDODQFLQJ JURXS NJ
9 3ODFH FUDQNVKDIW LQ PDLQ MRXUQDOV DQG DUURZV

)RU G\QDPLF EDODQFLQJ DWWDFK FRXQWHUZHLJKW WR HDFK FUDQNSLQ
&RXQWHUZHLJKW * J á J
0DVV RI EDODQFLQJ JURXS NJ
0D[ RSHUDWLQJ VSHHG USP

%DODQFLQJ VSHHG USP
3HUPLVVLEOH UHVLGXDO LPEDODQFH SHU EDODQFLQJ SODQH IRU LQLWLDO EDODQFLQJ JFP
3HUPLVVLEOH UHVLGXDO LPEDODQFH SHU EDODQFLQJ SODQH IRU FRPSDUDWLYH EDODQFLQJ
LQ GLIIHUHQW FRQILJXUDWLRQ RU EDODQFLQJ PDFKLQH JFP
5HPRYH PDWHULDO WR EDODQFH FUDQNVKDIW RQO\ IURP FRXQWHUZHLJKWV E\ GULOOLQJ UDGLDOO\ ZLWK WZLVW GULOO
)RU VSHFLILHG ERUH YDOXHV VHH QH[W LOOXVWUDWLRQ
$IWHU EDODQFLQJ UHFKHFN QXPEHUV RQ FRXQWHUZHLJKWV DQG UHQXPEHU LI QHFHVVDU\
(
*URXS &UDQNVKDIW
3DJH
%RUH YDOXHV IRU FRXQWHUZHLJKWV

$ PP PLQ
% PP PLQ
& 9 PP PLQ
& 9 PP PLQ
' PD[
( PP PD[ ERUH GLDPHWHU
) PP PD[ ERUH GHSWK
0LQLPXP ZDOO VWUHQJWK DURXQG EDODQFLQJ ERUHV
PP
&KHFNLQJ RLO ERUHV

(QGRVFRSLFDOO\ LQVSHFW DOO RLOZD\V ZLWK FROG OLJKW
VRXUFH DQG PDNH VXUH WKH\ DUH SHUIHFWO\ FOHDQ
,I QHFHVVDU\ FOHDQ RLO ERUHV
(
&UDQNVKDIW *URXS
3DJH
&OHDQLQJ RLO ERUHV

7KRURXJKO\ FOHDQ FUDQNVKDIW RLOZD\V ZLWK FROG
FOHDQHU DQG VXLWDEOH EULVWOH EUXVK
&$87,21
5LVN RI LQMXU\
3UHVVXUH PXVW QRW H[FHHG EDU
$IWHU FOHDQLQJ IOXVK RLOZD\V XQGHU SUHVVXUH LI SRVV
LEOH DQG EORZ FOHDU ZLWK FRPSUHVVHG DLU
1RWH ,I WKH FUDQNVKDIW LV QRW LQVWDOOHG RU SXW LQWR
RSHUDWLRQ LPPHGLDWHO\ WKH RLO ERUHV PXVW EH
GULHG SUHVHUYHG DQG VHDOHG DLUWLJKW ZLWK
VXLWDEOH FRYHUV
6WRUH FUDQNVKDIW
,QVWDOOLQJ EHDULQJ VKHOOV

SHUIHFWO\ FOHDQ
:LSH ERUHV DUURZV IRU FUDQNVKDIW EHDULQJ LQ FUDQN
FDVH DQG EHDULQJ VKHOOV RQ ERWK VLGHV
(
*URXS &UDQNVKDIW
3DJH
1RWH 7RS DQG ERWWRP EHDULQJ VKHOOV KDYH GLIIHUHQW

SDUW QXPEHUV
&KHFN FRGHV IRU UHSDLU VWDJH DQG MRXUQDO GLDPHWHU
RQ QHZ EHDULQJ VKHOOV DQG EHDULQJV QXPEHUV RQ
UXQLQ EHDULQJ VKHOOV
&RPSDUH FUDQNFDVH LQVSHFWLRQ VKHHW ZLWK FUDQNVKDIW
GDWD VKHHW
0DQXDOO\ LQVHUW EHDULQJ VKHOOV EHDULQJ VKHOOV ZLWK RLO
JURRYH DQG RLO ERUH RQ KRXVLQJ VLGH LQ DFFRUGDQFH
ZLWK EHDULQJ QXPEHU LQWR KRXVLQJ ERUH WR IRUP D
SRVLWLYH FRQQHFWLRQ
6HFXULQJ OXJ DUURZ RI EHDULQJ VKHOO PXVW VLW LQ
JURRYH LQ FUDQNFDVH
2LO ERUHV LQ EHDULQJ VKHOOV DQG FUDQNFDVH PXVW EH
DOLJQHG
,QVWDOOLQJ PDLQ EHDULQJ FDSV

FDS
&$87,21
5LVN RI LQMXU\
:LSH ORZHU EHDULQJ VKHOO EHDULQJ VKHOO ZLWKRXW RLO

ERUH RQ ERWK VLGHV DQG LQVHUW LQWR PDLQ EHDULQJ FDS
DFFRUGLQJ WR PDUNLQJV RU EHDULQJ QXPEHU
JURRYH LQ FUDQNVKDIW EHDULQJ FDS
(
&UDQNVKDIW *URXS
3DJH
0HDVXUH VKDIW OHQJWK / RI FHQWUDO KH[ VFUHZ IRU

VHH &
&RDW WKUHDG DQG VFUHZ KHDG PDWLQJ IDFH RI FHQWUH
KH[ VFUHZV DUURZV ZLWK HQJLQH RLO

QRW EH LQWHUFKDQJHG
&$87,21
5LVN RI LQMXU\
WLYH JORYHV
0DWFK EHDULQJ FDS LQ DFFRUGDQFH ZLWK FUDQNFDVH
PDUNLQJ WR EHDULQJ FDS DQG LQVHUW LQWR FUDQNFDVH
)LW EXW GR QRW \HW IXOO\ WLJKWHQ KH[ VFUHZV DV SHU

PDUNLQJV VHH SUHYLRXV LOOXVWUDWLRQ
(
*URXS &UDQNVKDIW
3DJH

VDPH WLPH
EHDULQJ
WRUTXH VHH &
0DUN VFUHZ KHDGV
7LJKWHQ VFUHZV RI RQH EHDULQJ VLPXOWDQHRXVO\ WR
VSHFLILHG DGGLWLRQDO DQJOH RI URWDWLRQ
1RWH 7LJKWHQ VFUHZV RQ RQH EHDULQJ DW VDPH WLPH

EHDULQJ
6LPXOWDQHRXVO\ WLJKWHQ VLGH GRXEOHKH[ VFUHZV LQ
RQH ZRUN VWHS WR VSHFLILHG WRUTXH VHH &
0HDVXULQJ FUDQNVKDIW EHDULQJ ,'

PHWHU RU JDXJH ULQJ WR EDVLF VL]H IRU PDLQ EHDU
LQJ ERUH DV SHU 7ROHUDQFH DQG :HDU /LPLWV /LVW
(
&UDQNVKDIW *URXS
3DJH
&RDW ZHDU IDFHV RI PDLQ EHDULQJ VKHOOV ZLWK HQJLQH

RLO
0HDVXUH ,' RI PDLQ EHDULQJ ERUH ZLWK VKHOOV LQ
VWDOOHG
5HSODFH EHDULQJ VKHOOV RU XVH UHSDLUVL]H EHDULQJV LI
OLPLW YDOXHV DUH H[FHHGHG
$IWHU PHDVXULQJ PDLQ EHDULQJ ERUHV ,' LI QHFHVVDU\
PDUN EHDULQJ VKHOOV DFFRUGLQJ WR EHDULQJ VKHOO
QXPEHU
WLPH
5HPRYH VLGH GRXEOHKH[ VFUHZV DQG WKHQ FHQWUDO
KH[ VFUHZV LQ UHYHUVH VHTXHQFH DV WR ZKHQ LQVWDO
OLQJ
&$87,21
5LVN RI LQMXU\
WLYH JORYHV
5HPRYH EHDULQJ FDS DQG EHDULQJ VKHOOV

1RWH 3URWHFW EHDULQJ VKHOOV IURP GDPDJH
& $VVHPEO\
,QVWDOOLQJ FRXQWHUZHLJKWV
0HDVXUH VKDIW OHQJWK RI VFUHZV IRU FRXQWHUZHLJKWV
IRU PD[ VKDIW OHQJWK VHH &
) D
(
*URXS &UDQNVKDIW
3DJH
&OHDQ DQG GHJUHDVH PDWLQJ IDFH RQ FUDQNVKDIW DQG

FRXQWHUZHLJKW
&RDW WKUHDGV DQG VFUHZ KHDG PDWLQJ IDFH RI VFUHZV
ZLWK HQJLQH RLO
1RWH ,QVWDOO FRXQWHUZHLJKWV LQ DFFRUGDQFH ZLWK
PDUNLQJV
)LW FRXQWHUZHLJKW RQ FUDQNVKDIW DQG WLJKWHQ VOLJKWO\
ZLWK VFUHZV
6HW FRXQWHUZHLJKW WR PDUNLQJ E DQG GLPHQVLRQ $ DQG

SUHWLJKWHQ VFUHZV WR VSHFLILHG SUHWLJKWHQLQJ WRUTXH
VHH &
$ PP PP
&KHFN WKDW PDUNV DSSOLHG SULRU WR GLVDVVHPEO\ DQG
PHDVXUHG GLVWDQFHV DUH FRUUHFW
0DUN VFUHZ KHDGV

7LJKWHQ VFUHZV WKURXJK VSHFLILHG DGGLWLRQDO DQJOH RI
URWDWLRQ
$IWHU LQVWDOOLQJ FRXQWHUZHLJKWV UHFKHFN LGHQWLILFDWLRQ
PDUNV RQ FRXQWHUZHLJKWV DQG ZHEV
0HDVXUH GLVWDQFH EHWZHHQ FRXQWHUZHLJKWV FRQURG
FOHDUDQFH
&RQURG FOHDUDQFH PP
1RWH ,I QHZ FRXQWHUZHLJKWV KDYH EHHQ LQVWDOOHG
G\QDPLFDOO\ EDODQFH FUDQNVKDIW $OVR DSSO\
LGHQWLILFDWLRQ QXPEHUV WR FRXQWHUZHLJKWV
XVLQJ SXQFK QXPHUDOV DQG EHJLQQLQJ DW GULY
LQJ HQG
(
&UDQNVKDIW *URXS
3DJH
,QVWDOOLQJ FUDQNVKDIW JHDU GULYLQJ HQG

&OHDQ DQG GHJUHDVH VXUIDFH RI PDLQ MRXUQDO DQG
JHDU ERUH
,QVWDOO FUDQNVKDIW JHDU GULYLQJ HQG LQ DOLJQPHQW
WRRO LQ VXFK D ZD\ WKDW VSULQJ SLQ ERUH LQ FUDQN
VKDIW JHDU LV DOLJQHG ZLWK ERUH DUURZ RI DOLJQPHQW
WRRO
3RVLWLRQ DQG IL[ FUDQNVKDIW JHDU ZLWK WKUHDGHG SLQ

8VH KHDWLQJ XQLW WR KHDW FUDQNVKDIW JHDU GULYLQJ HQG
WR DSSUR[ & &
&$87,21
&RPSRQHQW LV KRW
5LVN RI LQMXU\

9 D
WLYH JORYHV
,QVHUW JXLGH SLQ LQWR ERUH RI FUDQNVKDIW GULYLQJ

HQG
0RXQW VSDFHU WRRO DUURZ RQ FUDQNVKDIW DQG ILW
FUDQNVKDIW JHDU GULYLQJ HQG XVLQJ DOLJQPHQW WRRO RQ
FUDQNVKDIW
2QFH WKH FRPSRQHQWV KDYH FRROHG WR URRP WHPSHUD
WXUH UHPRYH DOLJQPHQW WRRO
&KHFN GLVWDQFH DUURZ EHWZHHQ JHDU DQG FUDQNVKDIW
FROODU
6SHFLILHG GLVWDQFH PP PP
9 D
,QVWDOOLQJ FUDQNVKDIW JHDU IUHH HQG

&OHDQ DQG GHJUHDVH VXUIDFH RI PDLQ MRXUQDO DQG
JHDU ERUH
,QVHUW FUDQNVKDIW JHDU IUHH HQG LQWR DVVHPEO\
GHYLFH DQG IL[ ZLWK NQXUOHG QXWV
(QVXUH FKDPIHU DUURZ LV FRUUHFWO\ SRVLWLRQHG
+HDW FUDQNVKDIW JHDU IUHH HQG ZLWK KHDWLQJ XQLW WR
DSSUR[ & &
&$87,21
&RPSRQHQW LV KRW
5LVN RI LQMXU\
WLYH JORYHV
9 D
(
*URXS &UDQNVKDIW
3DJH
8VLQJ DVVHPEO\ WRRO ILW KHDWHG FUDQNVKDIW JHDU IUHH

HQG RQ FUDQNVKDIW
$GMXVW VSDFLQJ DUURZ EHWZHHQ FUDQNVKDIW DQG
FUDQNVKDIW JHDU IUHH HQG ZLWK IHHOHU JDXJH
6SHFLILHG JDS PP PP
2QFH WKH FRPSRQHQWV KDYH FRROHG WR URRP WHPSHUD
WXUH UHPRYH DVVHPEO\ WRRO
9 D
& ,QVWDOODWLRQ
,QVWDOOLQJ FUDQNFDVH EHDULQJ VKHOOV

SHUIHFWO\ FOHDQ
:LSH ERUHV IRU FUDQNVKDIW EHDULQJ LQ FUDQNFDVH DQG
EHDULQJ VKHOOV RQ ERWK VLGHV
/LJKW XS RLO ERUHV DUURZV WR PDLQ EHDULQJV LQ FUDQN
FDVH ZLWK FROG OLJKW DQG FKHFN WKDW WKH\ DUH SHUIHFWO\
FOHDQ

SDUW QXPEHUV
,QVHUW EHDULQJ VKHOOV EHDULQJ VKHOOV ZLWK RLO JURRYH
DQG RLO ERUH LQ KRXVLQJ ERUH DFFRUGLQJ WR EHDULQJ
QXPEHUV E\ KDQG WR IRUP D SRVLWLYH FRQQHFWLRQ
&KHFN UHSDLU VWDJH RI FUDQNVKDIW PDLQ EHDULQJ ERUH
DQG UHSDLU VWDJH RI EHDULQJ VKHOOV VHH FUDQNFDVH
GDWD VKHHW DQG FUDQNVKDIW FKDUDFWHULVWLFV UHFRUG
JURRYH LQ FUDQNFDVH
2LO ERUHV LQ EHDULQJ VKHOOV DQG FUDQNFDVH PXVW EH
DOLJQHG
6SUD\ UXQQLQJ IDFHV RI FUDQNFDVH EHDULQJ VKHOOV ZLWK
HQJLQH RLO
(
&UDQNVKDIW *URXS
3DJH
,QVWDOOLQJ FUDQNVKDIW
:LSH FUDQNVKDIW EHDULQJ VXUIDFHV
,QVSHFW RLO ERUHV ZLWK ODPS DQG HQVXUH WKH\ DUH SHU
IHFWO\ FOHDQ
7R SURWHFW FUDQNVKDIW LQVHUW IRXU DVVHPEO\ EROWV RQ

ILUVW DQG ODVW EHDULQJ
:$51,1*
6XVSHQGHG ORDG
5LVN RI LQMXU\
/LIW FUDQNVKDIW XVLQJ URSH VOLQJV DQG FUDQH

$OLJQ FUDQNVKDIW KRUL]RQWDOO\ DQG YHUWLFDOO\ ZLWK OLQH
RI ERUHV LQ FUDQNFDVH DQG JUDGXDOO\ ORZHU FUDQN
VKDIW
(
*URXS &UDQNVKDIW
3DJH
:LWK WKH FDPVKDIW LQVWDOOHG EHIRUH WKH FUDQNVKDIW

UHDFKHV LWV HQG SRVLWLRQ LQ WKH EHDULQJ VKHOOV HQVXUH
WKDW WKH PDUNLQJV DUURZV RQ WKH FUDQNVKDIW JHDU
DQG WKH FDPVKDIW JHDU DUH DOLJQHG
&DUHIXOO\ ORZHU FUDQNVKDIW LQWR EHDULQJ VKHOOV
5HPRYH DVVHPEO\ EROWV
1RWH 'R QRW URWDWH WKH FUDQNVKDIW XQWLO WKH D[LDO
DOLJQPHQW EHDULQJ KDV EHHQ LQVWDOOHG
'HWHUPLQLQJ ZDOO WKLFNQHVV RI IULFWLRQ ZDVKHUV

,Q RUGHU WR DFKLHYH VSHFLILHG D[LDO FOHDUDQFH LQ DF
FRUGDQFH ZLWK 7ROHUDQFH DQG :HDU /LPLWV /LVW DIWHU
FUDQNVKDIW LV LQVWDOOHG WKLFNQHVV RI IULFWLRQ ZDVKHUV
PXVW EH GHWHUPLQHG DV IROORZV
0HDVXUH DQG UHFRUG DOLJQPHQW EHDULQJ ZLGWK $ RI
FUDQNVKDIW
0HDVXUH DQG UHFRUG FUDQNVKDIW DOLJQPHQW EHDULQJ
FRYHU WKLFNQHVV DQG FUDQNFDVH ZHE WKLFNQHVV % DW ILW
IRU IULFWLRQ ZDVKHUV
7R FDOFXODWH IULFWLRQ ZDVKHU ZDOO WKLFNQHVV
:DOO WKLFNQHVV $ % PHDQ D[LDO FOHDUDQFH
1RWH )ULFWLRQ ZDVKHUV RI HTXDO WKLFNQHVV PXVW EH
LQVWDOOHG RQ ERWK FUDQNVKDIW DOLJQPHQW EHDU
LQJ VLGHV
)ULFWLRQ ZDVKHUV DUH UHDG\ IRU LQVWDOODWLRQ H[
ZRUNV DQG DOVR GHOLYHUHG LQ ODUJHU VL]HV IRU
SXUSRVHV RI UHSDLU
1R UHFRQGLWLRQLQJ PXVW EH FDUULHG RXW
(
&UDQNVKDIW *URXS
3DJH
,QVWDOOLQJ XSSHU IULFWLRQ ZDVKHU KDOYHV

&RDW IULFWLRQ ZDVKHUV DUURZV ZLWK HQJLQH RLO DQG
VOLGH LQWR JXLGHV EHWZHHQ FUDQNVKDIW DOLJQPHQW EHDU
LQJ DQG PDWLQJ IDFH LQ FUDQNFDVH RQ ERWK VLGHV RI
ILUVW EHDULQJ
,QVWDOOLQJ PDLQ EHDULQJ FDS

FDS
&$87,21
5LVN RI LQMXU\
:LSH ORZHU EHDULQJ VKHOO EHDULQJ VKHOO ZLWKRXW RLO

ERUH RQ ERWK VLGHV DQG LQVHUW LQWR PDLQ EHDULQJ FDS
DFFRUGLQJ WR EHDULQJ QXPEHU
JURRYH LQ FUDQNVKDIW EHDULQJ FDS
(
*URXS &UDQNVKDIW
3DJH
&RDW IULFWLRQ ZDVKHUV ZLWK HQJLQH RLO

,QVWDOO IULFWLRQ ZDVKHUV RQ ERWK VLGHV RI FUDQNVKDIW
DOLJQPHQW EHDULQJ FRYHU WDNH FDUH QRW WR GDP
DJH JURRYHG SLQ ILW DUURZV
6SUD\ PDLQ EHDULQJ MRXUQDOV ZLWK HQJLQH RLO
&$87,21
5LVN RI LQMXU\
WLYH JORYHV
QRW EH LQWHUFKDQJHG
)LW EHDULQJ FDSV DFFRUGLQJ WR PDUNLQJ VHH QH[W LO
OXVWUDWLRQ RQ DSSURSULDWH FUDQNFDVH EHDULQJ DQG
LQVWDOO LQ FUDQNFDVH
1RWH 3ULRU WR LQVWDOOLQJ EHDULQJ FDS 1R HQVXUH
WKDW FRXQWHUZHLJKW LV LQ ORZHU SRVLWLRQ

(
&UDQNVKDIW *URXS
3DJH
0HDVXUH VKDIW OHQJWK / RI FHQWUDO KH[ VFUHZ IRU

VHH &
&RDW WKUHDG DQG VFUHZ KHDG PDWLQJ IDFH RI FHQWUH
KH[ VFUHZV DUURZV ZLWK HQJLQH RLO
)LW KH[ VFUHZV DV SHU PDUNLQJV VHH SUHYLRXV LO
OXVWUDWLRQ
,QVHUW KH[ VFUHZV DQG WLJKWHQ E\ KDQG


VDPH WLPH
EHDULQJ
WRUTXH VHH &
0DUN VFUHZ KHDGV
7LJKWHQ VFUHZV RI RQH EHDULQJ VLPXOWDQHRXVO\ WR
VSHFLILHG DGGLWLRQDO DQJOH RI URWDWLRQ
(
*URXS &UDQNVKDIW
3DJH

VDPH WLPH
EHDULQJ
6LPXOWDQHRXVO\ WLJKWHQ VLGH GRXEOHKH[ VFUHZV LQ
RQH ZRUN VWHS WR VSHFLILHG WRUTXH VHH RYHUYLHZ
GUDZLQJ &
%DU FUDQNVKDIW PDQXDOO\ DQG FKHFN IRU HDVH RI
PRYHPHQW
7KH FUDQNVKDIW PXVW EH DEOH WR WXUQ IUHHO\
0HDVXULQJ FUDQNVKDIW D[LDO SOD\

0RXQW PDJQHWLF GLDO JDXJH KROGHU ZLWK GLDO JDXJH
RQ FUDQNFDVH
3RVLWLRQ GLDO JDXJH VW\OXV DJDLQVW IURQW IDFH RI FUDQN
VKDIW
8VLQJ SU\ EDU SUHVV FUDQNVKDIW D[LDOO\ DV IDU DV LW
ZLOO JR
6HW GLDO JDXJH WR ]HUR ZLWK SUHORDG
0RYH FUDQNVKDIW IURP VWRS WR VWRS DUURZV DQG
HQWHU PHDVXUHG YDOXH D[LDO FOHDUDQFH LQ GDWD
VKHHW
,I GHWHUPLQHG PHDVXUHG YDOXH LV RXWVLGH SHUPLVVLEOH
WROHUDQFH VHH 7ROHUDQFH DQG :HDU /LPLWV /LVW UH
PRYH FUDQNVKDIW DQG FKHFN FDXVH

9 D

2SHUDWLRQV 6HH
[ ,QVWDOO HQJLQH %
(
372 'ULYLQJ (QG *URXS
3DJH
& 372 'ULYLQJ (QG

& *HQHUDO 9LHZ
)O\ZKHHO &HQWULIXJDO PDVV
3OXJ /RFDWLQJ SLQ
+XE *HDU
'RZHO SLQ 5DGLDOOLS VKDIW VHDO
+H[ VFUHZ &UDQNVKDIW EHDULQJ

(
*URXS 372 'ULYLQJ (QG
3DJH
$UUDQJHPHQW RI KXE LQVWDOODWLRQUHPRYDO WRRO
+XE 1XW
5HGXFHU 'UDZ VSLQGOH
+3 OLQH 7KUXVW EXVK
+\GUDXOLF SUHVV
& 6SHFLDO 7RRO
+XE LQVWDOODWLRQUHPRYDO WRRO

3UHVVLQ SODWH IRU VKDIW VHDO
)O\ZKHHO UHWDLQLQJ GHYLFH
2LO SUHVVXUH KDQG SXPS EDU
/XNDV KDQG SXPS
&UDQNVKDIW EHDULQJ SUHVVRXW SODWH
6XSSRUW SLQ IRU IO\ZKHHO
(
3DJH

2SHUDWLRQV 6HH
[ 5HPRYH HQJLQH %

[ [ 6HSDUDWH HQJLQH IURP DOWHUQDWRU
& 5HPRYDO
5HPRYLQJ IO\ZKHHO
/RFN HQJLQH RQ IO\ZKHHO ZLWK UHWDLQLQJ GHYLFH
([FHSW IRU RQH KH[ VFUHZ UHPRYH DOO KH[ VFUHZV
DUURZ IRU IO\ZKHHO
,QVHUW WZR VXSSRUW SLQV LQWR WZR RSSRVLQJ WKUHDGHG

ERUHV LQ KXE
(
3DJH
:$51,1*
6XVSHQGHG ORDG
5LVN RI LQMXU\
,QVWDOO H\HEROW LQ IO\ZKHHO

$WWDFK IO\ZKHHO WR FUDQH DQG URSH DQG VOLJKWO\ WHQ
VLRQ URSHV
5HPRYH ODVW KH[ VFUHZ IRU IO\ZKHHO
8VLQJ FUDQH DQG URSH UHPRYH IO\ZKHHO IURP IO\ZKHHO
KRXVLQJ YLD VXSSRUW SLQ
7DNH FDUH QRW WR GDPDJH GRZHO SLQ ILW LQ IO\ZKHHO
5HPRYH VXSSRUW SLQ DQG UHWDLQLQJ GHYLFH
5HPRYH GRZHO SLQ IURP KXE
3UHVVLQJ RII KXE
:$51,1*
(TXLSPHQW ZKLFK LV IDXOW\ LQVWDOOHG LQFRUUHFWO\
RU QRW LQ DFFRUGDQFH ZLWK VSHFLILFDWLRQV PD\
EHFRPH ORRVH RU GURS RII DQG FDXVH VHULRXV
LQMXU\
5LVN RI NQRFNV RU FUXVKLQJ
/LTXLGV HPHUJLQJ XQGHU KLJKSUHVVXUH FDQ OHDG
WR VHULRXV LQMXU\
+\GUDXOLF LQVWDOODWLRQUHPRYDO PXVW EH FDUULHG
RXW RQO\ E\ TXDOLILHG SHUVRQQHO 2QO\ XVH VSHFL
ILHG DQG WHVWHG HTXLSPHQW
7KH VSHFLILHG H[SDQVLRQ DQG SXVKRQ SUHVVXUH
PXVW QRW EH H[FHHGHG
1RRQH LV SHUPLWWHG WR HQWHU WKH GDQJHU ]RQH
EHKLQG WKH GHYLFH ZKLOH LQVWDOODWLRQUHPRYDO LV
LQ SURJUHVV 'R QRW DWWHPSW WR EHQG RU H[HUW
IRUFH RQ KLJKSUHVVXUH KRVHV ZKLOH WKH\ DUH
XQGHU SUHVVXUH
$OZD\V ZHDU SURWHFWLYH JORYHV DQG SURWHFWLYH
JRJJOHVVDIHW\ PDVN
6FUHZ GUDZ VSLQGOH LQWR FUDQNVKDIW

0HDVXUH UHIHUHQFH GLPHQVLRQ $ GUDZ VSLQGOH PDW
LQJ IDFHV WR FUDQNVKDIW PDWLQJ IDFHV
$ PP
5HPRYH SOXJ IURP KXE H[SDQVLRQ ERUH
6FUHZ UHGXFHU LQWR KXE DQG WLJKWHQ
(
3DJH
0RXQW SUHVVXUH VOHHYH DQG K\GUDXOLF SUHVV

RYHU VSLQGOH DQG LQVWDOO QXW
&RQQHFW +3 OLQH WR UHGXFHU
)RU LQVWDOODWLRQUHPRYDO WRRO OD\RXW
VHH &
&RQQHFW +3 OLQH RI /XNDV KDQG SXPS WR K\
GUDXOLF SUHVV
)XOO\ WLJKWHQ QXW WKHQ EDFN RII QXW GLVWDQFH HTXDO WR
SXVKRQ GLPHQVLRQ
3XVKRQ GLPHQVLRQ D LV VWDPSHG RQ KXE
1RWH %HIRUH WLJKWHQLQJ QXW PDNH VXUH WKDW K\
GUDXOLF SUHVV LV LQ LQLWLDO SRVLWLRQ VWURNH
)LOO K\GUDXOLF KDQG SXPSV ZLWK 6$( HQJLQH RLO

3ULPH SXPSV DQG OLQHV XQWLO RLO HVFDSLQJ LV IUHH RI
EXEEOHV
7LJKWHQ KLJKSUHVVXUH OLQH
2SHUDWH /XNDV KDQG SXPS IRU K\GUDXOLF SUHVV
DQG E\ DSSO\LQJ PLQLPXP SUHVVXUH S VWDUW RI
SUHVVXUH LQFUHDVH VHDW SUHVV DJDLQVW KXE
1RWH 7KH K\GUDXOLF SUHVV DFWV DV D EXIIHU VWRSSLQJ
WKH KXE DV LW VOLSV RII LWV WDSHU VHDW
2SHUDWH K\GUDXOLF KDQG SXPS IRU H[SDQGLQJ KXE
XQWLO H[SDQVLRQ SUHVVXUH LV KDOI WKH PD[LPXP SHU
PLWWHG S
0DLQWDLQ WKLV SUHVVXUH IRU DSSUR[ PLQXWHV
0D[LPXP SHUPLWWHG H[SDQVLRQ SUHVVXUH SPD[ LV
VWDPSHG RQ KXE
,QFUHDVH H[SDQVLRQ SUHVVXUH LQ VWDJHV RI k SPD[ ZDLWLQJ DSSUR[ PLQXWHV EHWZHHQ LQFUHDVHV XQWLO KXE LV UH
OHDVHG IURP FUDQNVKDIW
'R QRW H[FHHG PD[LPXP SHUPLVVLEOH H[SDQVLRQ SUHVVXUH SPD[
2SHUDWH SXPS WR PDLQWDLQ FRQVWDQW H[SDQVLRQ SUHVVXUH
$Q LQFUHDVH LQ SUHVVXUH S DW WKH K\GUDXOLF SUHVV LQGLFDWHV WKDW KXE LV UHOHDVHG IURP FUDQNVKDIW
*UDGXDOO\ UHOLHYH SUHVVXUH LQ K\GUDXOLF SUHVV ZKLOH VWHDGLO\ RSHUDWLQJ SXPS IRU H[SDQVLRQ IOXLG
5HOLHYH SUHVVXUH LQ K\GUDXOLF KDQG SXPSV
5HPRYH KLJKSUHVVXUH OLQH DQG UHGXFHU
5HPRYH QXW K\GUDXOLF SUHVV SUHVVXUH VOHHYH DQG GUDZ VSLQGOH
5HPRYH KXE IURP FUDQNVKDIW
5HPRYH ORFDWLQJ SLQ IURP FUDQNVKDIW JHDU
(
3DJH
& 'LVDVVHPEO\
5HPRYLQJ UDGLDOOLS VKDIW VHDO DQG FUDQNVKDIW

EHDULQJ IURP IO\ZKHHO KRXVLQJ
1RWH 5HSODFH FUDQNVKDIW EHDULQJ DQG VKDIW VHDOLQJ
ULQJ DV SDUW RI HYHU\ : RYHUKDXO
&KHFN UDGLDOOLS VKDIW VHDO DQG FUDQNVKDIW EHDULQJ
VHH &
5HPRYH IO\ZKHHO KRXVLQJ VHH &
8VLQJ VXLWDEOH PDQGUHO DQG KDPPHU GULYH VKDIW
VHDOLQJ ULQJ RXW RI IO\ZKHHO KRXVLQJ
&XW D[LDO JURRYH LQ FUDQNVKDIW EHDULQJ OHDYLQJ
ZDOO WKLFNQHVV RI DSSUR[ PP WR UHOLHYH WHQVLRQ LQ
EHDULQJ
8VLQJ UHPRYDO WRRO DQG PDQXDO SUHVV IRUFH EHDULQJ
RXW RI IO\ZKHHO KRXVLQJ

8VLQJ PDJQHWLF FUDFNWHVWLQJ PHWKRG DQG IOXRUHVFHQW PDJQHWLF SRZGHU FKHFN IO\ZKHHO DQG IO\ZKHHO KH[ VFUHZV IRU
FUDFNV
5HSODFH FUDFNHG FRPSRQHQWV
&KHFN PDWLQJ IDFHV RQ IO\ZKHHO IRU HYHQQHVV ZHDU VFRULQJ DQG LQGHQWDWLRQV UHFRQGLWLRQ LI QHFHVVDU\
5HQHZ IO\ZKHHO LI VFRULQJ DQG LQGHQWDWLRQV DUH JUHDWHU WKDQ WKH PD[LPXP SHUPLVVLEOH PDWHULDO UHPRYDO VHH 7RO
HUDQFH DQG :HDU /LPLWV /LVW
&KHFN DOO VHDOLQJ PDWLQJ DQG EHDULQJ IDFHV RQ KXE IRU ZHDU VFRULQJ DQG LQGHQWDWLRQV
5HPRYH PLQRU ZHDU VFRULQJ DQG LQGHQWDWLRQV E\ UXEELQJ GRZQ ZLWK RLOVWRQH RU HPHU\ FORWK UHSODFH KXE DV
QHFHVVDU\
&KHFN WDSHU VXUIDFHV RI KXE IRU VFRULQJ DQG GDPDJH
5HPRYH PLQRU VFRULQJ DQG GDPDJH E\ SROLVKLQJ ZLWK HPHU\ FORWK
&KHFN WDSHU ZLWK WDSHU JDXJH
5HSODFH KXE LI WDSHU ERUH LV RYHUVL]HG
&KHFN KH[ EROWV RQ IO\ZKHHOV IRU SHUIHFW FRQGLWLRQ &KHFN FRQGLWLRQ RI WKUHDGV UHSODFH KH[ VFUHZV LI QHFHVVDU\
&KHFN WKUHDG RI H[SDQVLRQ ERUH UHFKDVH LI QHFHVVDU\
&KHFN FRQGLWLRQ RI ORFDWLQJ SLQV DQG VSULQJ SLQ UHSODFH LI QHFHVVDU\
&KHFN WKUHDG LQ KXE DQG ULQJ JHDU IRU SHUIHFW FRQGLWLRQ DQG HDVH RI PRYHPHQW UHFKDVH LI QHFHVVDU\
&KHFN ULQJ JHDU IRU ZHDU UHSODFH LI QHFHVVDU\
5HPRYH VOLJKW EXUUV DQG FKLSSLQJ IURP WHHWK E\ JULQGLQJ RU ILOLQJ
5HSODFH VKDIW VHDO DQG VSULQJ SLQ DV SDUW RI HYHU\ : RYHUKDXO
(
3DJH
&KHFNLQJ DQG DVVHVVLQJ FUDQNVKDIW EHDULQJ

5HSODFH FUDQNVKDIW EHDULQJ DV SDUW RI HYHU\ :
RYHUKDXO
&KHFN VXUIDFH FRQGLWLRQ RI FUDQNVKDIW EHDULQJV DQG
FKHFN IRU ZHDU UHSODFH EHDULQJ LI GDPDJHG
&UDQNVKDIW EHDULQJ KDV WKH IROORZLQJ PDWHULDO VWUXF
WXUH
%HDULQJ PHWDO
6WHHO VXSSRUW VKHOO
$Q LPSRUWDQW FULWHULRQ IRU DVVHVVLQJ H[WHQW RI ZHDU
RQ EHDULQJ LV WKH VKDSH DQG H[WHQW RI QLFNHO EDUULHU
EHLQJ H[SRVHG
8VDELOLW\ RI EHDULQJ LV UHVWULFWHG DW RI VOLGLQJ
OD\HU LQ IULFWLRQ DUHD
1RWH ,W LV RIWHQ GLIILFXOW WR GLIIHUHQWLDWH EHWZHHQ WKH
KDUG QLFNHO EDUULHU DQG VRIWHU VOLGLQJ OD\HU ,I
LQ GRXEW FRQVXOW D EHDULQJ VSHFLDOLVW
(
3DJH
& $VVHPEO\
,QVWDOOLQJ FUDQNVKDIW EHDULQJ LQWR IO\ZKHHO KRXV

LQJ
0HDVXUH EDVH ERUH LQ IO\ZKHHO KRXVLQJ
VHH &
3ODFH IO\ZKHHO KRXVLQJ RQ VXLWDEOH UHVW WR HQVXUH
WKDW FUDQNVKDIW EHDULQJ GRHV QRW SURMHFW ZKHQ
LQVWDOOHG
0DUN SRVLWLRQ RI RLO ERUHV DUURZV RQ IURQW RI FUDQN
VKDIW EHDULQJ
1RWH 6KHOO LV FRGHPDUNHG RQ VLGH RSSRVLWH
PDUN
&$87,21
1LWURJHQ LV OLTXLG DW &
'DQJHU RI IUHH]LQJ DQG VXIIRFDWLRQ
'R QRW DOORZ OLTXLG QLWURJHQ WR FRPH LQWR FRQ
WDFW ZLWK SDUWV RI ERG\ H\HV KDQGV
&KLOO PDLQ EHDULQJ LQ OLTXLG QLWURJHQ
+HDW IO\ZKHHO KRXVLQJ WR &
&$87,21
&RPSRQHQW LV KRW
5LVN RI LQMXU\
WLYH JORYHV
,QVHUW FKLOOHG FUDQNVKDIW EHDULQJ IOXVK LQWR IO\ZKHHO
KRXVLQJ PDNLQJ VXUH WKDW RLO ERUHV DUURZV DUH
DOLJQHG 2PDUNLQJ SRLQWV WR RLO VXSSO\ ERUH
0DNH VXUH WKDW RLOZD\V DUH IUHH RI REVWUXFWLRQ
0HDVXULQJ FUDQNVKDIW EHDULQJ ERUH

$OORZ IO\ZKHHO KRXVLQJ WR FRRO WR URRP WHPSHUDWXUH
ULQJ RU PLFURPHWHU WR EDVLF VL]H RI FUDQNVKDIW
EHDULQJ ERUH
(
3DJH
&RDW IULFWLRQ IDFH RI FUDQNVKDIW EHDULQJ DUURZ ZLWK

HQJLQH RLO
0HDVXUH GLDPHWHU RI FUDQNVKDIW EHDULQJ ERUH ZLWK
ERUH JDXJH
5HSODFH FUDQNVKDIW EHDULQJ RU XVH UHSDLUVL]H VKHOOV
LI OLPLW YDOXHV DUH H[FHHGHG
,QVWDOOLQJ UDGLDOOLS VKDIW VHDO LQWR IO\ZKHHO KRXV

LQJ
)LW UDGLDOOLS VKDIW VHDO ZLWK VHDOLQJ OLS IDFLQJ RXW
ZDUGV RQ SUHVVLQ SODWH
&RDW VHDOLQJ IDFH DUURZ RI UDGLDOOLS RLO VHDO ZLWK
GHQDWXUDWHG HWKDQRO
1RWH 'HQDWXUDWHG HWKDQRO DFWV DV OXEULFDQW IRU
SUHVVILWWLQJ
/B
&OHDQ DQG GHJUHDVH VHDOLQJ IDFH IRU UDGLDOOLS RLO VHDO

LQ IO\ZKHHO KRXVLQJ
8VLQJ SUHVVLQ SODWH GULYH UDGLDOOLS VKDIW VHDO ZLWK
VHDOLQJ OLS IDFLQJ GRZQZDUG LQWR IO\ZKHHO KRXVLQJ VR
WKDW LW PDNHV D SRVLWLYH FRQQHFWLRQ
&RPSOHWH IO\ZKHHO KRXVLQJ DQG LQVWDOO
VHH &
/B
(
3DJH
& ,QVWDOODWLRQ
,QVWDOO ORFDWLQJ SLQ

3RVLWLRQLQJ FRUUHFWO\ GULYH ORFDWLQJ SLQ LQWR FUDQN
VKDIW JHDU XQWLO LW SURWUXGHV WR GLPHQVLRQ $
$ PP
)ODW HQG RI ORFDWLQJ SLQ IDFHV KXE FHQWUH
3UHVV RQ KXE
:$51,1*
LQMXU\
WR VHULRXV LQMXU\
XQGHU SUHVVXUH
JRJJOHVVDIHW\ PDVN
&OHDQ DQG GHJUHDVH WDSHUV RI FUDQNVKDIW DQG KXE
&RDW UXQQLQJ VXUIDFH RI FUDQNVKDIW EHDULQJ DQG KXE
IRU FUDQNVKDIW EHDULQJ ZLWK RLO
&RDW UXQQLQJ VXUIDFH RI KXE IRU UDGLDOOLS VKDIW VHDO
ZLWK WKLQILOP OXEULFDQW
&RDW OLS RI UDGLDOOLS RLO VHDO ZLWK SHWUROHXP MHOO\
,QVHUW WZR VFUHZV LQWR WZR RSSRVLQJ WKUHDGHG ERUHV
LQ KXE
)LW KXE RQ FUDQNVKDIW WDSHU PDNLQJ VXUH WKDW ORFDWLQJ
SLQ LQ FUDQNVKDIW JHDU HQJDJHV LQ KXE ERUH
(
3DJH
&DOFXODWH SXVKRQ GLVWDQFH E\ PHDVXULQJ GLVWDQFH

IURP HQG IDFH RI FUDQNVKDIW WR HQG IDFH RI KXE ZLWK
GHSWK JDXJH 0DNH D QRWH RI WKLV GLVWDQFH
&DOFXODWH GLIIHUHQFH SXVKRQ GLVWDQFH EHWZHHQ
PHDVXUHG GLVWDQFH DQG GLVWDQFH
$ PP p PP
'LVWDQFH $ GLVWDQFH IURP HQG IDFH RI FUDQNVKDIW WR
HQG IDFH RI KXE DIWHU K\GUDXOLF LQVWDOODWLRQ
6SHFLILHG SXVKRQ GLVWDQFH D LV VWDPSHG RQ KXE
,I FDOFXODWHG GLVWDQFH LV OHVV WKDQ SXVKRQ GLVWDQFH
D FKHFN GLPHQVLRQDO DFFXUDF\ RI WDSHU

0HDVXUH UHIHUHQFH GLPHQVLRQ $ GUDZ VSLQGOH PDW
LQJ IDFHV WR FUDQNVKDIW PDWLQJ IDFHV
$ PP
6FUHZ UHGXFHU LQWR KXE DQG WLJKWHQ

RYHU VSLQGOH
,QVWDOO QXW DQG KDQGWLJKWHQ
&RQQHFW +3 OLQH WR UHGXFHU
)RU LQVWDOODWLRQUHPRYDO WRRO OD\RXW
VHH &
&RQQHFW +3 OLQH RI /XNDV KDQG SXPS WR K\
GUDXOLF SUHVV
(
3DJH

EXEEOHV
%HIRUH LQVWDOOLQJ FRDW WDSHU IDFHV ZLWK H[SDQVLRQ
IOXLG E\ RSHUDWLQJ K\GUDXOLF KDQG SXPS XQWLO H[
SDQVLRQ IOXLG HPHUJHV DW ERWK VLGHV RI KXE
DQG E\ DSSO\LQJ PLQLPXP SUHVVXUH VHDW SUHVV
DJDLQVW KXE
2SHUDWH SXPS IRU H[SDQVLRQ IOXLG XQWLO QR IXUWKHU LQ
FUHDVH LQ H[SDQVLRQ SUHVVXUH S LV SRVVLEOH WKHQ
RSHUDWH IRUFHRQ SXPS WR LQFUHDVH IRUFHRQ SUHVVXUH
S
5HSHDW WKLV SURFHVV XQWLO WKH KXE LV FRUUHFWO\ VHDWHG
6HOHFW IRUFHRQ SUHVVXUH VXFK DV WR VHDW VKDIW LQ DS
SUR[ VWHSV
:KHQ LQVWDOOLQJ PDNH VXUH WKDW H[SDQVLRQ SUHVVXUH
QHYHU H[FHHGV WKH PD[LPXP SHUPLVVLEOH H[SDQVLRQ
SUHVVXUH SPD[
SPD[ LV VWDPSHG RQ KXE
+\GUDXOLF LQVWDOODWLRQ LV FRPSOHWHG ZKHQ SUHVVXUH
VOHHYH LV VHDWHG DJDLQVW FUDQNVKDIW
2SHQ YDOYH VFUHZ LQ K\GUDXOLF RLO SXPS WR UHOLHYH
H[SDQVLRQ SUHVVXUH
0DLQWDLQ PD[LPXP IRUFHRQ SUHVVXUH IRU PLQXWHV
WR HQVXUH WKDW WKH H[SDQVLRQ IOXLG LV H[SHOOHG IURP
WKH MRLQW DQG VWDWLF IULFWLRQ FDQ EXLOG XS EHWZHHQ WKH
IL[HG FRPSRQHQWV
'LVFRQQHFW KLJKSUHVVXUH OLQH
5HPRYH RLO IURP H[SDQVLRQ ERUH LQVHUW SOXJ DQG
WLJKWHQ
$OORZ VSHFLILHG UHWHQWLRQ WLPH WR HODSVH DQG UHPRYH
QXW K\GUDXOLF SUHVV SUHVVXUH VOHHYH UHGXFHU DQG
GUDZ VSLQGOH
1RWH 7KH SUHVVRQ FRQQHFWLRQ PXVW QRW EH VXE
MHFWHG WR RSHUDWLRQDO ORDG IRU DW OHDVW KRXUV
(
3DJH
&KHFN GLVWDQFH $ IURP HQG IDFH RI FUDQNVKDIW WR

HQG IDFH RI KXE
6SHFLILHG GLVWDQFH $ PP p PP
,QVWDOOLQJ IO\ZKHHO
3RVLWLRQLQJ FRUUHFWO\ GULYH GRZHO SLQ LQWR KXE XQWLO LW
SURWUXGHV PP
)ODW HQG DUURZ RI GRZHO SLQ IDFHV KXE FHQWUH
,QVHUW WZR VXSSRUW SLQV LQWR WZR RSSRVLQJ WKUHDGHG

ERUHV LQ KXE
(
3DJH
:$51,1*
6XVSHQGHG ORDG
5LVN RI LQMXU\
,QVWDOO H\HEROW LQWR IO\ZKHHO

$WWDFK IO\ZKHHO ZLWK FUDQH DQG URSHV
8VLQJ FUDQH DQG URSH SRVLWLRQ IO\ZKHHO RQ KXE YLD

JXLGH SLQ
7DNH FDUH QRW WR GDPDJH GRZHO SLQ ILW LQ IO\ZKHHO
,QVHUW KH[ VFUHZV DUURZ IRU IO\ZKHHO DQG WLJKWHQ LQ
GLDJRQDOO\ RSSRVLWH VHTXHQFH
5HPRYH VXSSRUW SLQ DQG OLIWLQJ GHYLFH
7LJKWHQ KH[ VFUHZV LQ GLDJRQDOO\ RSSRVLWH VHTXHQFH
WR VSHFLILHG WRUTXH VHH &
5HPRYH UHWDLQLQJ GHYLFH

2SHUDWLRQV 6HH

[ ,QVWDOO HQJLQH %
[ &RQQHFW HQJLQH WR DOWHUQDWRU
(
372 )UHH (QG *URXS
3DJH
& 372 )UHH (QG

& *HQHUDO 9LHZ
372 )UHH (QG 9
9LEUDWLRQ GDPSHU
+XE DQG WUDFN ULQJ
6KDIW VHDO
,QWHUPHGLDWH ULQJ
3OXJ
+H[ VFUHZ
(
*URXS 372 )UHH (QG
3DJH
372 )UHH (QG 9
6SDFHU ULQJ
%HOW SXOOH\
+H[ VFUHZ
(
372 )UHH (QG *URXS
3DJH
372 )UHH (QG 9
%HOW SXOOH\ 6KDIW VHDO
9LEUDWLRQ GDPSHU 6SDFHU
+XE +H[ VFUHZ

*HDU FDVH FRYHU
&UDQNVKDIW
(
*URXS 372 )UHH (QG
3DJH
372 )UHH (QG 9
9LEUDWLRQ GDPSHU
(
372 )UHH (QG *URXS
3DJH
9LEUDWLRQ GDPSHU
+H[ VFUHZ
'LVKHG ZDVKHU
6LGH SODWH
6OHHYH IRU UDGLDOOLS VKDIW VHDO
(
*URXS 372 )UHH (QG
3DJH
/D\RXW IRU LQVWDOODWLRQUHPRYDO WRRO IRU YLEUDWLRQ GDPSHU
'UDZ VSLQGOH 5HIHUHQFH GLPHQVLRQ $ PP
1XW 3XVKRQ GLPHQVLRQ % IURP PP WR PP
+\GUDXOLF SUHVV 3XVKRQ GLVWDQFH D IURP PP WR PP
7KUXVW EXVK
+3 OLQH
5HGXFHU
9LEUDWLRQ GDPSHU
&UDQNVKDIW
& 6SHFLDO 7RRO
,QVWDOODWLRQUHPRYDO WRRO IRU YLEUDWLRQ GDPSHU

2LO SUHVVXUH KDQG SXPS EDU
/XNDV KDQG SXPS
)O\ZKHHO UHWDLQLQJ GHYLFH
(
372 )UHH (QG *URXS
3DJH

2SHUDWLRQV 6HH
[ 5HPRYH HQJLQH %

[ [ 5HPRYH SURWHFWLYH JXDUG
[ [ 5HPRYH 9EHOW &
& 5HPRYDO

5HPRYLQJ YLEUDWLRQ GDPSHU 9
5HPRYH VHFXULQJ VFUHZV IRU YLEUDWLRQ GDPSHU
DV SHU RYHUYLHZ GUDZLQJ VHH DOVR &
5HPRYH EHOW SXOOH\ VSDFHU ULQJ DQG YLEUDWLRQ
GDPSHU VHH DOVR & RU LQWHUPHGLDWH ZDVKHU
DQG YLEUDWLRQ GDPSHU IURP KXE
(
*URXS 372 )UHH (QG
3DJH
5HPRYLQJ KXE 9
:$51,1*
LQMXU\
WR VHULRXV LQMXU\
XQGHU SUHVVXUH
JRJJOHVVDIHW\ PDVN
6FUHZ GUDZ VSLQGOH XS WR VWRS LQWR FUDQNVKDIW

DQG WKHQ EDFN RII E\ RQH WXUQ
RYHU VSLQGOH DQG LQVWDOO QXW
5HPRYH SOXJ IURP KXE H[SDQVLRQ ERUH
6FUHZ UHGXFHU LQWR KXE DQG FRQQHFW +3 OLQH
&RQQHFW +3 OLQH RI /XNDV KDQG SXPS WR K\GUDXOLF
SUHVV
)LW QXW XS WR VWRS DQG EDFN RII DSSUR[ PP
(
372 )UHH (QG *URXS
3DJH

EXEEOHV
SUHVVXUH LQFUHDVH VHDW SUHVV DJDLQVW YLEUDWLRQ
GDPSHU
2SHUDWH K\GUDXOLF KDQG SXPS IRU H[SDQGLQJ KXE
XQWLO H[SDQVLRQ SUHVVXUH LV KDOI WKH PD[LPXP SHU
PLWWHG S
0D[LPXP SHUPLWWHG H[SDQVLRQ SUHVVXUH SPD[ LV
VWDPSHG RQ KXE
,QFUHDVH H[SDQVLRQ SUHVVXUH LQ VWDJHV RI k SPD[
ZDLWLQJ DSSUR[ PLQXWHV EHWZHHQ LQFUHDVHV XQWLO
KXE LV UHOHDVHG IURP FUDQNVKDIW
'R QRW H[FHHG WKH PD[LPXP SHUPLVVLEOH H[SDQVLRQ
SUHVVXUH SPD[
2SHUDWH SXPS WR PDLQWDLQ FRQVWDQW H[SDQVLRQ SUHV
VXUH
$Q LQFUHDVH LQ SUHVVXUH S DW WKH K\GUDXOLF SUHVV
LQGLFDWHV WKDW KXE LV UHOHDVHG IURP FUDQNVKDIW
*UDGXDOO\ UHOLHYH SUHVVXUH LQ K\GUDXOLF SUHVV ZKLOH
VWHDGLO\ RSHUDWLQJ SXPS IRU H[SDQVLRQ IOXLG
5HPRYH QXW K\GUDXOLF SUHVV SUHVVXUH EXVK VSDFHU
VOHHYH DQG GUDZ VSLQGOH
8QVFUHZ UHGXFHU
5HPRYH KXE IURP FUDQNVKDIW
(
*URXS 372 )UHH (QG
3DJH
5HPRYLQJ WUDFN ULQJ IURP KXE

1RWH 5HPRYH WUDFN ULQJ RQO\ LI QHFHVVDU\ HJ GXH
WR ZHDU
8VLQJ D VXLWDEOH UHPRYHU WRRO UHPRYH WUDFN ULQJ
IURP KXE
5HPRYLQJ YLEUDWLRQ GDPSHU 9
:$51,1*
LQMXU\
WR VHULRXV LQMXU\
XQGHU SUHVVXUH
JRJJOHVVDIHW\ PDVN
&KHFN UHIHUHQFH GLPHQVLRQ $ RI GUDZ VSLQGOH VHH &
0RXQW SUHVVXUH VOHHYH DQG K\GUDXOLF SUHVV RYHU VSLQGOH DQG LQVWDOO QXW
,QVHUW UHGXFHU LQWR YLEUDWLRQ GDPSHU DQG FRQQHFW +3 OLQH
&RQQHFW +3 OLQH RI /XNDV KDQG SXPS WR K\GUDXOLF SUHVV
)XOO\ WLJKWHQ QXW WKHQ EDFN RII QXW GLVWDQFH HTXDO WR SXVKRQ GLPHQVLRQ
3XVKRQ GLPHQVLRQ D LV VWDPSHG RQ YLEUDWLRQ GDPSHU
1RWH %HIRUH WLJKWHQLQJ QXW PDNH VXUH WKDW K\GUDXOLF SUHVV LV LQ LQLWLDO SRVLWLRQ VWURNH
(
372 )UHH (QG *URXS
3DJH

EXEEOHV
SUHVVXUH LQFUHDVH VHDW SUHVV DJDLQVW YLEUDWLRQ
GDPSHU
2SHUDWH K\GUDXOLF KDQG SXPS IRU H[SDQGLQJ WKH
YLEUDWLRQ GDPSHU WDSHU XQWLO H[SDQVLRQ SUHVVXUH LV
KDOI WKH SHUPLWWHG PD[LPXP S
0D[LPXP H[SDQVLRQ SUHVVXUH SPD[LV VWDPSHG RQ
YLEUDWLRQ GDPSHU
,QFUHDVH H[SDQVLRQ SUHVVXUH LQ VWDJHV RI k SPD[
ZDLWLQJ DSSUR[ PLQXWHV EHWZHHQ LQFUHDVHV XQWLO
YLEUDWLRQ GDPSHU LV UHOHDVHG IURP FUDQNVKDIW
'R QRW H[FHHG PD[LPXP SHUPLVVLEOH H[SDQVLRQ
SUHVVXUH SPD[
2SHUDWH SXPS WR PDLQWDLQ FRQVWDQW H[SDQVLRQ SUHV
VXUH
$Q LQFUHDVH LQ SUHVVXUH S DW WKH K\GUDXOLF SUHVV
LQGLFDWHV WKDW YLEUDWLRQ GDPSHU LV UHOHDVHG IURP WDS
HUHG VHDW
*UDGXDOO\ UHOLHYH SUHVVXUH LQ K\GUDXOLF SUHVV ZKLOH
VWHDGLO\ RSHUDWLQJ SXPS IRU H[SDQVLRQ IOXLG
5HPRYH QXW K\GUDXOLF SUHVV SUHVVXUH VOHHYH DQG
GUDZ VSLQGOH
8QVFUHZ UHGXFHU
:$51,1*
+HDY\ REMHFW
5LVN RI LQMXU\
8VH VXLWDEOH WRROV DQG OLIWLQJ HTXLSPHQW
5HPRYH YLEUDWLRQ GDPSHU IURP FUDQNVKDIW
(
*URXS 372 )UHH (QG
3DJH
5HPRYLQJ VOHHYH IURP YLEUDWLRQ GDPSHU

1RWH ,I QHFHVVDU\ HJ GXH WR ZHDU UHPRYH
VOHHYH
5HPRYH VOHHYH ZLWK VXLWDEOH UHPRYDO WRRO IURP YLEUD
WLRQ GDPSHU
& 'LVDVVHPEO\
'LVDVVHPEOLQJ YLEUDWLRQ GDPSHU

5HPRYH KH[ EROWV DQG GLVKHG ZDVKHUV
5HPRYH VLGH SODWH
5HPRYH 2ULQJV
1RWH $ FRPSOHWH LQVSHFWLRQ LV SRVVLEOH LQ WKLV
FRQGLWLRQ 7KH VSULQJ SDFN FDQ RQO\ EH GLVDV
VHPEOHG ZLWK WKH DLG RI VSHFLDO WRROV DQG
VKRXOG RQO\ EH FDUULHG RXW E\ *HLVOLQJHU 6HU
YLFH
(
372 )UHH (QG *URXS
3DJH

372 )UHH (QG 9
0DNH D YLVLEOH LQVSHFWLRQ RI DOO FRPSRQHQWV HVSHFLDOO\ PDWLQJ DQG VOLGLQJ VXUIDFHV IRU ZHDU DQG GDPDJH
5HPRYH PLQRU ZHDU DQG VFRULQJ E\ UXEELQJ GRZQ ZLWK RLOVWRQH RU HPHU\ FORWK
,I WKHUH LV H[FHVV ZHDU RU GDPDJH UHSODFH FRPSRQHQW
&KHFN YLEUDWLRQ GDPSHU IRU OHDNDJHV RU IOXLG ORVV
5HSODFH WKH YLEUDWLRQ GDPSHU LI LW LV IRXQG WR EH OHDNLQJ
&KHFN WKUHDGV LQ KXE IRU HDVH RI PRYHPHQW UHFKDVH WKUHDGV LI QHFHVVDU\
&KHFN WDSHU ERUH RI KXE ZLWK WDSHU SOXJ JDXJH
5HSODFH KXE LI WDSHU ERUH LV RYHUVL]HG
&KHFN WKUHDG RI KH[ EROWV IRU HDVH RI PRYHPHQW UHSODFH KH[ EROW LI QHFHVVDU\
&KHFN VKDIW VHDO UXQQLQJ VXUIDFH RQ WUDFN ULQJ UHSODFH WUDFN ULQJ LI WKH UXQQLQJ VXUIDFH LV ZRUQ
5HSODFH YLEUDWLRQ GDPSHU DW : RYHUKDXO RU LQ WKH HYHQW RI RYHUVSHHG RU FUDQNVKDIW IUDFWXUH
372 )UHH (QG 9
9LVXDOO\ LQVSHFW VSULQJ SDFN RI YLEUDWLRQ GDPSHU LQQHU WHHWK RI LQQHU VWDU DQG VLGH SODWH IRU GDPDJH DQG ZHDU
5HSODFH YLEUDWLRQ GDPSHU LI WKHUH LV H[FHVV ZHDU RU GDPDJH
&KHFN 2ULQJ VHDOLQJ VXUIDFHV IRU ZHDU DQG UXVW
5HPRYH PLQRU ZHDU RU UXVW E\ UXEELQJ GRZQ ZLWK RLOVWRQH RU HPHU\ FORWK
&KHFN FRQGLWLRQ RI WKUHDG RI VLGH WKUHDGHG EXVK DQG UHFXW DV UHTXLUHG
(QVXUH WKDW RLOZD\V DUH SDUWLFXODUO\ FOHDQ
&KHFN WDSHU ERUH RI YLEUDWLRQ GDPSHU ZLWK WDSHU SOXJ JDXJH
5HSODFH YLEUDWLRQ GDPSHU LI WDSHU ERUH LV RYHUVL]HG
&KHFN IDFH RI WDSHU ERUH DQG EHDULQJ VOLGLQJ VXUIDFHV IRU ZHDU DQG VFRULQJ
&KHFN KH[ VFUHZV IRU GDPDJH DQG FKHFN WKUHDGV IRU HDVH RI PRYHPHQW UHSODFH KH[ EROW LI QHFHVVDU\
&KHFN UDGLDOOLS VKDIW VHDO UXQQLQJ VXUIDFH RQ VOHHYH 5HSODFH VOHHYH LI QHFHVVDU\
5HSODFH 2ULQJV
(
*URXS 372 )UHH (QG
3DJH
& $VVHPEO\

$VVHPEOLQJ YLEUDWLRQ GDPSHU 9
&$87,21
5LVN RI LQMXU\
%ORZ WKURXJK RLO ERUHV LQ YLEUDWLRQ GDPSHU ZLWK FRP
SUHVVHG DLU DQG HQVXUH WKDW WKH\ DUH SHUIHFWO\ FOHDQ
&RDW 2ULQJV ZLWK SHWUROHXP MHOO\ DQG LQVHUW LQWR WKH
VLGH SODWH JURRYHV
&RDW LQQHU FLUFXPIHUHQFH RI VLGH SODWH DQG RXWHU FLU
FXPIHUHQFH RI LQQHU VWDU DQG GULYHU JURRYHV ZLWK
WKLQILOP OXEULFDQW
&OHDQ DQG GHJUHDVH FRQWDFW DUHDV RI GLVKHG
ZDVKHUV
&RDW GLVKHG ZDVKHUV RQ ERWK VLGHV ZLWK VXUIDFH
VHDODQW DQG ILW FRUUHFWO\ RQ VFUHZV
&RQYH[ HQG RI GLVKHG ZDVKHU PXVW SRLQW WR VFUHZ
KHDG
,QVWDOO VLGH SODWH SRVLWLRQLQJ FRUUHFWO\ DQG WLJKWHQ
KH[ EROWV LQ GLDJRQDOO\ RSSRVLWH VHTXHQFH WR
DQW VHH &
& ,QVWDOODWLRQ
,QVWDOOLQJ WUDFN ULQJ RQ KXE 9

+HDW WUDFN ULQJ WR DSSUR[ &
&$87,21
&RPSRQHQW LV KRW
5LVN RI LQMXU\
WLYH JORYHV
3XVK WKH KHDWHG WUDFN ULQJ IOXVK RQWR WKH KXE ZLWK
WKH FKDPIHU DUURZ IDFLQJ WKH KXE
$OORZ WUDFN ULQJ WR FRRO WR URRP WHPSHUDWXUH DQG
FKHFN WKDW WKH GLVWDQFH $ LV HYHQ DORQJ WKH HQWLUH
FLUFXPIHUHQFH
(
372 )UHH (QG *URXS
3DJH
3UHVVILWWLQJ KXE 9
:$51,1*
LQMXU\
WR VHULRXV LQMXU\
XQGHU SUHVVXUH
JRJJOHVVDIHW\ PDVN
&OHDQ DQG GHJUHDVH WDSHUV RI FUDQNVKDIW DQG KXE

&RDW UXQQLQJ VXUIDFH RI FUDQNVKDIW EHDULQJ DQG KXE
ZLWK RLO
&RDW VKDIW VHDO OLS ZLWK SHWUROHXP MHOO\
3XVK KXE RQWR FUDQNVKDIW WDSHU
6FUHZ GUDZ VSLQGOH XS WR VWRS LQWR FUDQNVKDIW
DQG WKHQ EDFN RII E\ RQH WXUQ
RYHU VSLQGOH
,QVWDOO QXW DQG ILW E\ KDQG
6FUHZ UHGXFHU LQWR KXE DQG FRQQHFW +3 OLQH
SUHVV
(
*URXS 372 )UHH (QG
3DJH

EXEEOHV
%HIRUH SUHVV ILWWLQJ FRDW WDSHU IDFHV ZLWK H[SDQVLRQ
IOXLG E\ RSHUDWLQJ K\GUDXOLF KDQG SXPS XQWLO H[
SDQVLRQ IOXLG HPHUJHV DW ERWK VLGHV RI KXE
DQG E\ DSSO\LQJ PLQLPXP SUHVVXUH SRVLWLRQ DJDLQVW
KXE
S
5HSHDW WKLV SURFHVV XQWLO WKH KXE LV FRUUHFWO\ VHDWHG
6HOHFW IRUFHRQ SUHVVXUH VXFK DV WR VHDW VKDIW LQ DSSUR[ VWHSV

:KHQ LQVWDOOLQJ PDNH VXUH WKDW H[SDQVLRQ SUHVVXUH QHYHU H[FHHGV WKH PD[LPXP SHUPLVVLEOH H[SDQVLRQ SUHVVXUH
SPD[
SPD[ LV VWDPSHG RQ KXE
+\GUDXOLF LQVWDOODWLRQ LV FRPSOHWHG ZKHQ VSDFHU VOHHYH LV VHDWHG DJDLQVW FUDQNVKDIW
2SHQ YDOYH VFUHZ LQ K\GUDXOLF RLO SXPS WR UHOLHYH H[SDQVLRQ SUHVVXUH
0DLQWDLQ PD[LPXP IRUFHRQ SUHVVXUH IRU PLQXWHV WR HQVXUH WKDW WKH H[SDQVLRQ IOXLG LV H[SHOOHG IURP WKH MRLQW
DQG VWDWLF IULFWLRQ FDQ EXLOG XS EHWZHHQ WKH IL[HG FRPSRQHQWV
1RWH 7KH PD[LPXP SXVKRQ SUHVVXUH LV WKH SUHVVXUH WKDW ZDV UHTXLUHG WR VOLGH WKH IORDWLQJ KXE RQWR WKH VKDIW
:KHQ XVLQJ H[SDQVLRQ RLO RI YLVFRVLW\ FODVV KLJKHU WKDQ 6$( D ORQJHU UHWHQWLRQ WLPH LV QHFHVVDU\ IRU
6$( UHWHQWLRQ WLPH KRXUV
5HPRYH QXW K\GUDXOLF SUHVV SUHVVXUH EXVK VSDFHU VOHHYH DQG GUDZ VKDIW DIWHU VSHFLILHG KROGLQJ WLPH
5HPRYH RLO IURP WKH H[SDQVLRQ ERUH LQ WKH KXE LQVHUW SOXJ DQG WLJKWHQ
1RWH 7KH SUHVVRQ FRQQHFWLRQ PXVW QRW EH VXEMHFWHG WR RSHUDWLRQDO ORDG IRU DW OHDVW KRXUV
&KHFN GLVWDQFH $ IURP HQG IDFH RI FUDQNVKDIW WR

HQG IDFH RI KXE
1RWH 2EVHUYH WKH UHFHVV LQ WKH FUDQNVKDIW HQG
IDFH &DUU\ RXW PHDVXUHPHQWV RQO\ DW RXWHU
HGJH RI FUDQNVKDIW HQG IDFH
6SHFLILHG GLVWDQFH $ PP WR PP
,I VSHFLILHG GLVWDQFH LV QRW DFKLHYHG UHPRYH KXE DQG
GHWHUPLQH FDXVH
(
372 )UHH (QG *URXS
3DJH
,QVWDOOLQJ YLEUDWLRQ GDPSHU 9

,QVHUW WZR VXLWDEOH JXLGH SLQV LQWR RSSRVLQJ WKUHDGHG
ERUHV LQ KXE
,QVWDOO YLEUDWLRQ GDPSHU VSDFHU ULQJ DQG EHOW
SXOOH\ RQ KXE VHH & RU LQVWDOO YLEUDWLRQ
GDPSHU DQG LQWHUPHGLDWH ZDVKHU RYHU WKH JXLGH SLQV
RQ WKH KXE DV VKRZQ LQ *HQHUDO 9LHZ &
1RWH (QVXUH WKDW YLEUDWLRQ GDPSHU LV SRVLWLRQHG
FRUUHFWO\ LQ DFFRUGDQFH ZLWK RYHUDOO GUDZLQJ

5HPRYH JXLGH SLQV
,QVHUW VHFXULQJ VFUHZV IRU YLEUDWLRQ GDPSHU DQG
WLJKWHQ GLDJRQDOO\ DQG HYHQO\ WR VSHFLILHG WLJKWHQLQJ
WRUTXH VHH &
,QVWDOOLQJ VOHHYH RQ YLEUDWLRQ GDPSHU 9

1RWH 6OHHYH PXVW EH LQVWDOOHG IOXVK ZLWK OLS
DUURZ RI YLEUDWLRQ GDPSHU

0HDVXUH DQG GHWHUPLQH WZR VSDFHU VWULSV
+HDW VOHHYH WR DSSUR[ &
&$87,21
&RPSRQHQW LV KRW
5LVN RI LQMXU\
WLYH JORYHV
)LW VSDFHU VWULSV RQ YLEUDWLRQ GDPSHU

)LW KHDWHG VOHHYH ZLWK FKDPIHU DUURZ IOXVK ZLWK
YLEUDWLRQ GDPSHU

$OORZ VOHHYH WR FRRO WR URRP WHPSHUDWXUH DQG UH
PRYH VSDFHU VWULSV
(
*URXS 372 )UHH (QG
3DJH
,QVWDOOLQJ YLEUDWLRQ GDPSHU 9
:$51,1*
LQMXU\
WR VHULRXV LQMXU\
XQGHU SUHVVXUH
JRJJOHVVDIHW\ PDVN
&OHDQ DQG GHJUHDVH WDSHUV RI FUDQNVKDIW DQG YLEUD
WLRQ GDPSHU
&RDW UXQQLQJ VXUIDFH RI FUDQNVKDIW EHDULQJ DQG
YLEUDWLRQ GDPSHU ZLWK RLO
&RDW OLS RI UDGLDOOLS RLO VHDO ZLWK SHWUROHXP MHOO\
:$51,1*
+HDY\ REMHFW
5LVN RI LQMXU\
3XVK YLEUDWLRQ GDPSHU RQWR FUDQNVKDIW WDSHU

&DOFXODWH SXVKRQ GLVWDQFH E\ PHDVXULQJ GLVWDQFH
IURP HQG IDFH RI FUDQNVKDIW WR HQG IDFH RI YLEUDWLRQ
GDPSHU ZLWK GHSWK JDXJH 0DNH D QRWH RI WKLV GLV
WDQFH
&DOFXODWH GLIIHUHQFH SXVKRQ GLVWDQFH EHWZHHQ
PHDVXUHG GLPHQVLRQ DQG SXVKRQ GLPHQVLRQ %
VHH &
3XVKRQ GLPHQVLRQ % GLVWDQFH IURP IDFH RI
FUDQNVKDIW WR IDFH RI YLEUDWLRQ GDPSHU DIWHU K\GUDXOLF
LQVWDOODWLRQ
3XVKRQ GLVWDQFH D LV VWDPSHG RQ YLEUDWLRQ GDPSHU
,I FDOFXODWHG GLVWDQFH LV OHVV WKDQ SXVKRQ GLVWDQFH
D FKHFN GLPHQVLRQDO DFFXUDF\ RI WDSHU
(
372 )UHH (QG *URXS
3DJH

&KHFN UHIHUHQFH GLPHQVLRQ $ VHH &
RYHU VSLQGOH
,QVWDOO QXW DQG KDQGWLJKWHQ
,QVHUW UHGXFHU LQWR YLEUDWLRQ GDPSHU DQG +3 OLQH
SUHVV

EXEEOHV
%HIRUH SUHVVILWWLQJ FRDW WDSHU IDFHV ZLWK H[SDQVLRQ
IOXLG RSHUDWH K\GUDXOLF KDQG SXPS XQWLO H[SDQ
VLRQ IOXLG HVFDSHV DW ERWK HQGV RI YLEUDWLRQ GDPSHU
DQG E\ DSSO\LQJ PLQLPXP SUHVVXUH VHDW SUHVV
DJDLQVW YLEUDWLRQ GDPSHU
S
5HSHDW WKLV SURFHVV XQWLO YLEUDWLRQ GDPSHU LV FRU
UHFWO\ VHDWHG
6HOHFW IRUFHRQ SUHVVXUH VXFK DV WR VHDW VKDIW LQ DSSUR[ VWHSV

:KHQ LQVWDOOLQJ PDNH VXUH WKDW H[SDQVLRQ SUHVVXUH QHYHU H[FHHGV WKH PD[LPXP SHUPLVVLEOH H[SDQVLRQ SUHVVXUH
SPD[
SPD[ LV VWDPSHG RQ YLEUDWLRQ GDPSHU
+\GUDXOLF LQVWDOODWLRQ LV FRPSOHWHG ZKHQ SUHVVXUH VOHHYH LV VHDWHG DJDLQVW FUDQNVKDIW
2SHQ YDOYH VFUHZ LQ K\GUDXOLF RLO SXPS WR UHOLHYH H[SDQVLRQ SUHVVXUH
0DLQWDLQ PD[LPXP IRUFHRQ SUHVVXUH IRU PLQXWHV WR HQVXUH WKDW WKH H[SDQVLRQ IOXLG LV H[SHOOHG IURP WKH MRLQW
DQG VWDWLF IULFWLRQ FDQ EXLOG XS EHWZHHQ WKH IL[HG FRPSRQHQWV
5HPRYH RLO IURP H[SDQVLRQ ERUH LQVHUW SOXJ DQG WLJKWHQ
$OORZ VSHFLILHG UHWHQWLRQ WLPH WR HODSVH DQG UHPRYH QXW K\GUDXOLF SUHVV SUHVVXUH VOHHYH DQG GUDZ VSLQGOH
1RWH 7KH SUHVVRQ FRQQHFWLRQ PXVW QRW EH VXEMHFWHG WR RSHUDWLRQDO ORDG IRU DW OHDVW KRXUV
&KHFN SXVKRQ GLPHQVLRQ % VHH & FUDQNVKDIW HQG IDFH WR YLEUDWLRQ GDPSHU HQG IDFH
,I SXVKRQ GLPHQVLRQ LV QRW DFKLHYHG K\GUDXOLFDOO\ UHPRYH YLEUDWLRQ GDPSHU DQG GHWHUPLQH WKH FDXVH
(
*URXS 372 )UHH (QG
3DJH

2SHUDWLRQV 6HH

[ ,QVWDOO HQJLQH %
[ [ ,QVWDOO 9EHOW DQG VHW 9EHOW WHQVLRQ &
[ [ 0RXQW SURWHFWLYH JXDUG
(
3LVWRQV DQG &RQURGV *URXS
3DJH
& 3LVWRQV DQG &RQURGV

& 2YHUYLHZ 'UDZLQJ
3LVWRQ
&RQURG
&RQURG FDS
&RQURG EHDULQJ WRS
&RQURG EHDULQJ ERWWRP
&RQURG VFUHZ
0D[ VKDIW OHQJWK
&RQURG ZLWK
FUDFNHG PDWLQJ IDFH PP
&RQURG ZLWK WRRWKHG
PDWLQJ IDFH PP

$GGLWLRQDO
DQJOH RI URWDWLRQ
5HSODFH FRQURG FDS VFUHZV ZLWK

FUDFNHG PDWLQJ IDFHV GXULQJ HDFK
HQJLQH GLVDVVHPEO\
6QDS ULQJ
3LVWRQ SLQ
.H\VWRQHW\SH FRPSUHVVLRQ ULQJ
7DSHUIDFH FRPSUHVVLRQ ULQJ
'6)ULQJ
3LVWRQ
&RQURG
&RQURG FDS
&RQURG VFUHZ
2QO\ DWWDFK FRQURG EHDULQJ FRYHU

WR FRQURG ZLWK EHDULQJ VKHOO
LQVWDOOHG
(
*URXS 3LVWRQV DQG &RQURGV
3DJH
& 6SHFLDO 7RRO

6RFNHW IRU FRQURG VFUHZV
3LVWRQ ULQJ SOLHUV
%DUULQJ WRRO IRU IO\ZKHHO
3LVWRQ ULQJ EDQG FODPS
5LQJ JDXJH IRU SLVWRQ ULQJ HQG FOHDUDQFH PHDVXULQJ
,QVWDOODWLRQ WRRO IRU FRQURG EHDULQJV
%ULGJH PHWHU IRU SLVWRQ SURWUXVLRQ PHDVXULQJ

2SHUDWLRQV 6HH
[ 5HPRYH HQJLQH %

[ [ 5HPRYH DLU VXSSO\ V\VWHP EHIRUH WXUERFKDUJHU LI QHFHVVDU\
[ [ 5HPRYH FKDUJH DLU FRRODQW SLSH &
[ [ 'LVFRQQHFW RU UHPRYH HOHFWULFDO FDEOH LI QHFHVVDU\ &
[ [ 5HPRYLQJ SXVKURGV &
[ [ 5HPRYLQJ F\OLQGHU KHDG &
(
3DJH
& 5HPRYDO
5HPRYLQJ SLVWRQ ZLWK FRQURG LQ DVVHPEO\ GROO\

5RWDWH FUDQNFDVH LQ DVVHPEO\ GROO\ XQWLO SLVWRQ WR EH
UHPRYHG LV KRUL]RQWDO
7XUQ FUDQNSLQ RI FUDQNVKDIW RI SLVWRQ DQG FRQ
QHFWLQJ URG WR EH UHPRYHG DFFRUGLQJ WR VNHWFK LQ
GLVDVVHPEO\ SRVLWLRQ
&DUHIXOO\ UHPRYH FRPEXVWLRQ UHVLGXHV RYHU WRS

ODQGV LQ F\OLQGHU OLQHU ZLWK D VFUDSHU 7DNH FDUH QRW WR
GDPDJH UXQQLQJ VXUIDFH
1RWH 7KLV HQVXUHV WKDW WKH SLVWRQ ULQJV DUH QRW
GDPDJHG ZKHQ WKH SLVWRQ LV EHLQJ UHPRYHG
&KHFN PDUNLQJ DUURZV RI FRQURG FDS WR FRQURG

0DUN SDUWV DV QHFHVVDU\
1RWH %HDULQJ FDS DQG FRQURG DUH D VLQJOH XQLW DQG
PXVW QRW EH LQWHUFKDQJHG
(
3DJH
5HPRYH FRQURG EROWV DUURZV ZLWK VRFNHW DQG

UDWFKHW DQG UHPRYH FRQURG FDS
5HPRYH EHDULQJ VKHOO IURP FRQURG FDS DQG SURWHFW
IURP GDPDJH
1RWH 5HSODFH FRQURG FDS EROWV RI FUDFNHG FRQURGV
GXULQJ HYHU\ HQJLQH GLVDVVHPEO\
7KH FUDFNHG EURNHQ LQWHUIDFHV PXVW QRW EH
GDPDJHG UHSODFH FRQURG DV QHFHVVDU\
&KHFN PDUNLQJV IURP EHDULQJ VKHOO WR FRQURG UHDS
SO\ PDUNLQJV LI QHFHVVDU\
1RWH :KHQ UHPRYLQJ SLVWRQ GR QRW GDPDJH RU
EHQG RLO VSUD\ QR]]OH
3UHVV SLVWRQ RXW RI F\OLQGHU OLQHU XVLQJ D ZHGJH RI
ZRRG DW HGJH RI SLVWRQ VNLUW
5HPRYH EHDULQJ VKHOO IURP FRQURG DQG SURWHFW IURP
GDPDJH
& 'LVDVVHPEO\

5HPRYLQJ FRQURG IURP SLVWRQ
3ODFH SLVWRQ DQG FRQURG RQ ZRUNEHQFK
&KHFN PDUNLQJ RQ FRQURG SLVWRQ DQG SLVWRQ SLQ FRU
UHFW PDUNLQJV LI QHFHVVDU\
&$87,21
6QDS ULQJ SUHWHQVLRQ
5LVN RI LQMXU\
8VH VXLWDEOH FLUFOLS SOLHUV $OZD\V ZHDU SURWHF
WLYH JRJJOHVVDIHW\ PDVN
8VLQJ FLUFOLS SOLHUV UHPRYH FLUFOLSV
(
3DJH
8VH ZRRGHQ URG WR SUHVV RXW SLVWRQ SLQ DUURZ

1RWH 'R QRW XVH VKDUSHGJHG WRRO WR IRUFH RXW SLV
WRQ SLQ
+ROG FRQURG DQG UHPRYH SLVWRQ SLQ
5HPRYH FRQURG IURP SLVWRQ
5HPRYLQJ SLVWRQ ULQJV

5HPRYH SLVWRQ ULQJV ZLWK SLVWRQ ULQJ SOLHUV LQ VH
TXHQFH IURP WRS WR ERWWRP
1RWH 6WUHWFK SLVWRQ ULQJV DUURZV RQO\ XQWLO WKH\
FDQ EH UHPRYHG IURP WKH SLVWRQ 'R QRW RYHU
VWUHWFK SLVWRQ ULQJV DV WKH\ PD\ EUHDN

3LVWRQ
1RWH 7KH JUDSKLWH OD\HU RQ WKH SLVWRQ VNLUW PXVW QRW EH PHFKDQLFDOO\ UHPRYHG RU WUHDWHG ZLWK VWURQJ FOHDQHUV
&$87,21
:KHQ XVLQJ FKHPLFDO VXEVWDQFHV LW LV HVVHQWLDO WR REVHUYH WKH PDQXIDFWXUHU·V LQVWUXFWLRQV IRU XVH VDIHW\
LQVWUXFWLRQV DQG ZDVWH GLVSRVDO VSHFLILFDWLRQV
7UHDW FDUERQ GHSRVLWV RQ SLVWRQ FURZQ DQG SLVWRQ ULQJ JURRYHV ZLWK GHFDUERQL]HU
5HPRYH UHPDLQLQJ UHVLGXHV IURP SLVWRQ FURZQ DQG SLVWRQ ULQJ JURRYHV E\ EUXVKLQJ
1RWH 8VH RQO\ D VRIW EUXVK HJ SHUORQ EUXVK WR DYRLG GDPDJLQJ SLVWRQ VXUIDFH
(
3DJH
&$87,21
$IWHU FOHDQLQJ EORZ RXW RLO FKDPEHU DQG RLO ERUHV ZLWK FRPSUHVVHG DLU DQG FKHFN IRU SDUWLFXODU FOHDQQHVV
8VLQJ WKH VXUIDFH FUDFNWHVWLQJ PHWKRG ZLWK IOXRUHVFHQW SHQHWUDQW G\H FKHFN SLVWRQ IRU FUDFNV UHSODFH LI QHFHVV
DU\
&DUHIXOO\ LQVSHFW SLVWRQ ULQJ JURRYHV IRU FUDFNV
&KHFNLQJ SLVWRQ VNLUW DQG WRS ODQG
&KHFN SLVWRQ VNLUW VXUIDFH FRQGLWLRQ IRU ZHDU SLWWLQJ
DQG VFRULQJ
7KH SLVWRQ VNLUW ZHDU SDWWHUQ PXVW FRYHU PRVW RI WKH
VXUIDFH DV WKH IULFWLRQ VFRUHV PXVW EH HDVLO\ LGHQWLIL
DEOH LQ WKLV DUHD
1RWH 7KH IULFWLRQ VFRUHV RQ WKH FLUFXPIHUHQFH DUH
DUWLILFLDO GHSUHVVLRQV ZKLFK DUH ILOOHG ZLWK RLO
DQG UHVXOW LQ LPSURYHG OXEULFDWLRQ
) D
,Q WKH HYHQW RI FRQWDFW HURVLRQ RQ WKH SLVWRQ HGJH

UHSODFH WKH FRPSOHWH SLVWRQ
5HPRYH VFRULQJ RU VFXIILQJ RQ WRS ODQG RI SLVWRQ LI
ORFDO DQG QRW H[WHQGLQJ DV IDU DV ILUVW DQQXODU JURRYH
5HSODFH SLVWRQ LI GDPDJH LV PRUH H[WHQVLYH LH LI
VFRULQJ RU SLWWLQJ H[WHQGV DV IDU DV WKH ILUVW DQQXODU
JURRYH DUURZ
,Q WKH HYHQW RI H[WHQVLYH SROLVKLQJ ZHDU RQ SLVWRQ
VNLUW DSSHDUV GXOO UDWKHU WKDQ VKLQ\ DQG FRQFHQ
WUDWHG VFRULQJ UHSODFH SLVWRQ
5HSODFH SLVWRQV H[KLELWLQJ HYHQ PLQRU ORFDOL]HG
VFXIILQJ RQ SLVWRQ VNLUW
) D
(
3DJH
0HDVXULQJ SLVWRQ VNLUW GLDPHWHU

8VH DQ RXWVLGH PLFURPHWHU WR PHDVXUH RXWVLGH GLDP
HWHU RQ SRLQWV IUHH IURP JUDSKLWH
,I PHDVXUHPHQWV DUH EHORZ OLPLW YDOXHV DV SHU 7ROHU
DQFH DQG :HDU /LPLWV /LVW UHSODFH SLVWRQ
9 D
,QVSHFWLQJ SLVWRQ ULQJ JURRYHV

&KHFN JURRYH ZLGWK ZLWK ILQDO PHDVXUHPHQWV
$OWHUQDWLYHO\ D QHZ SLVWRQ ULQJ FDQ EH LQVHUWHG
LQWR JURRYH DQG D[LDO FOHDUDQFH PHDVXUHG ZLWK IHHOHU
JDXJH
,I WKH OLPLW YDOXHV DV SHU 7ROHUDQFH DQG :HDU /LPLWV
/LVW DUH H[FHHGHG RU PHDVXUHPHQWV DUH EHORZ OLPLW
YDOXHV IRU JURRYH IRU RLO FRQWURO ULQJ UHSODFH SLVWRQ
,QVSHFWLQJ SLVWRQ SLQ ERVV

$GMXVW ERUH JDXJH DQG PHDVXUH SLVWRQ SLQ ERUH
,I OLPLW YDOXHV DV SHU 7ROHUDQFH DQG :HDU /LPLWV /LVW
DUH H[FHHGHG UHSODFH SLVWRQV
&KHFN VOLGLQJ VXUIDFHV RI EURQ]H EXVKLQJ IRU ZHDU
DQG VFRULQJ UHSODFH SLVWRQ DV QHFHVVDU\
(
3DJH
,QVSHFWLQJ SLVWRQ SLQ

8VLQJ PDJQHWLF FUDFNWHVWLQJ PHWKRG DQG IOXRU
HVFHQW PDJQHWLF SRZGHU FKHFN SLVWRQ SLQ IRU FUDFNV
LI FUDFNV DUH GHWHFWHG UHSODFH SLVWRQ SLQ
5HPRYH PLQRU WUDFHV RI ZHDU DQG VFRULQJ E\ SROLVK
LQJ
5HSODFH SLVWRQ SLQV H[KLELWLQJ VFXIILQJ LQGHQWDWLRQV
DQG VHYHUH ZHDU
0HDVXUH RXWVLGH GLDPHWHU ZLWK RXWVLGH PLFURPHWHU
DQG GHWHUPLQH SLQ FOHDUDQFH VHH 7ROHUDQFH DQG
:HDU /LPLWV /LVW
,I OLPLW YDOXH LV H[FHHGHG UHSODFH SLVWRQ SLQ
) D
,QVSHFWLQJ SLVWRQ ULQJV

5HSODFH SLVWRQ ULQJV GXULQJ : RYHUKDXO
&OHDQ SLVWRQ ULQJV RI FRPEXVWLRQ UHVLGXH DQG FKHFN
IRU GDPDJH UHSODFH LI QHFHVVDU\
&RQGLWLRQ RU ZHDU RI FKURPH OD\HU DUURZ LV D GHFLG
LQJ IDFWRU ZKHQ UHXVLQJ RU UHSODFLQJ NH\VWRQHW\SH
FRPSUHVVLRQ ULQJ WDSHU IDFH FRPSUHVVLRQ ULQJ
DQG RLO VFUDSHU ULQJ
&KURPH OD\HU PXVW QRW VKRZ VLJQV RI VFRULQJ FUDFNV
RU KHDW GLVFRORUDWLRQ
5HSODFH VKDUSHGJHG SLVWRQ ULQJV
3ODFH SLVWRQ ULQJ LQ ULQJ JDXJH WR PHDVXUH

SLVWRQ ULQJ HQG FOHDUDQFH
(QVXUH WKDW SLVWRQ ULQJ LV ILWWHG HYHQO\ LQ ULQJ JDXJH
&KHFN SLVWRQ ULQJ JDS ZLWK IHHOHU JDXJH
DUH H[FHHGHG UHSODFH SLVWRQ ULQJV
1RWH 3LVWRQ ULQJV PXVW RQO\ EH UHSODFHG LQ VHWV
+RQH F\OLQGHU OLQHUV LI QHZ SLVWRQ ULQJV DUH
LQVWDOOHG
(
3DJH
&RQQHFWLQJ URG
1RWH 5HSODFH FRQURG FDS VFUHZV ZLWK FUDFNHG PDWLQJ IDFHV GXULQJ HDFK HQJLQH GLVDVVHPEO\
8VLQJ PDJQHWLF FUDFNWHVWLQJ PHWKRG ZLWK IOXRUHVFHQW PDJQHWLF SRZGHU FKHFN FRQURG FRQURG FDS DQG FRQURG
VFUHZV IRU FUDFNV
,I FUDFNV DUH GHWHFWHG UHSODFH SDUW
$WWHQWLRQ 2QO\ FRQURGV RI WKH VDPH W\SH PXVW EH LQVWDOOHG RQ D FUDQNSLQ FRQQHFWLQJ URG ZLWK FUDFNHG PDWLQJ
IDFH RU FRQQHFWLQJ URG ZLWK WRRWKHG PDWLQJ IDFH &RQVHTXHQWO\ FRQQHFWLQJ URG PXVW EH UHSODFHG LQ
SDLUV
&KHFN FRQURG DQG FRQURG VFUHZ WKUHDGV IRU HDVH RI PRYHPHQW
3ROLVK RXW DOO WUDFHV RI QLFNV LQ FRQURG UHSODFH FRQURG LI QHFHVVDU\
&KHFN FRQURG IRU EOXH FRORXULQJ LI EOXH FRORXULQJ LV GHWHFWHG GXH WR EHDULQJ GDPDJH UHSODFH FRQQHFWLQJ URG
&KHFN PDLQ ERUH IRU ZHDU DQG VFRULQJ UHSODFH FRQURG LI QHFHVVDU\
&KHFN FRQURG EXVK IRU VFRULQJ GLUW ZHDU DQG KRW UXQV EXUQLVK PLQRU VFRULQJ ZLWK HPHU\ FORWK UHSODFH FRQURG
EXVK LI QHFHVVDU\
&$87,21
,I FRPSUHVVHG DLU LV XVHG IRU EORZLQJ RXW RU EORZGU\LQJ FRPSRQHQWV DOZD\V ZHDU SURWHFWLYH JRJJOHV
RU VDIHW\ PDVN 3UHVVXUH PXVW QRW H[FHHG EDU
&OHDQ LQWHUIDFHV RI FRQURG DQG FRQURG FDS DQG EORZ GU\ ZLWK FRPSUHVVHG DLU
7KH FUDFNHG EURNHQ LQWHUIDFHV PXVW QRW EH GDPDJHG UHSODFH FRQQHFWLQJ URG DV QHFHVVDU\
8VH D EUDVV EUXVK WR FOHDQ WRRWKLQJ RQ FRQURG DQG FRQURG FDS PDWLQJ IDFHV DQG EORZ GU\ ZLWK FRPSUHVVHG DLU
8VH RLOVWRQH WR UHPRYH VXUIDFH LUUHJXODULWLHV DQG WUDFHV RI ZHDU IURP VHUUDWLRQV
$SSO\ HQJLQHHU·V EOXH WR FKHFN FRQWDFW SDWWHUQ
&KHFN WKDW OXEH RLO ERUH LQ FRQQHFWLQJ URG LV SHUIHFWO\ FOHDQ LI QHFHVVDU\ FOHDQ ZLWK EULVWOH EUXVK DQG EORZ ZLWK
FRPSUHVVHG DLU
(
3DJH
&KHFNLQJ FRQURG WZLVW

0HDVXUH SHUPLWWHG GHYLDWLRQ % RI EHQG EHWZHHQ
FRQURG EHDULQJ DQG FRQURG EXVKLQJ ERUH WR PHDVXU
LQJ GLVWDQFH &
0HDVXUH GLVWDQFH $ IURP FHQWUH FRQURG EHDULQJ
ERUH WR FHQWUH FRQURG EXVKLQJ ERUH
)RU UHTXLUHG PHDVXUHPHQWV DQG OLPLW YDOXHV
VHH 7ROHUDQFH DQG :HDU /LPLWV /LVW
,I OLPLW YDOXHV DUH H[FHHGHG UHSODFH FRQURG
1RWH &RQQHFWLQJ URG PXVW QRW EH VWUDLJKWHQHG
)D
&KHFNLQJ DQG DVVHVVLQJ FRQURG EHDULQJ VKHOOV

&KHFN VXUIDFH FRQGLWLRQ RI EHDULQJ VKHOOV DQG FKHFN
VKHOOV IRU ZHDU 5HSODFH ZRUQ RU FKLSSHG EHDULQJ
VKHOOV
5HSODFH EHDULQJ VKHOOV DV SDUW RI HYHU\ : RYHUKDXO
%HDULQJ VKHOO KDV WKH IROORZLQJ PDWHULDO VWUXFWXUH
%HDULQJ PHWDO
6WHHO VXSSRUW VKHOO
$Q LPSRUWDQW LQGLFDWRU IRU DVVHVVLQJ H[WHQW RI ZHDU
RQ EHDULQJ VKHOO LV WKH VKDSH DQG H[WHQW RI WKH QLFNHO
EDUULHU DUHDV H[SRVHG
8VH RI EHDULQJ VKHOO LV UHGXFHG WR RI VOLGLQJ
OD\HU LQ IULFWLRQ DUHD
1RWH ,W LV RIWHQ GLIILFXOW WR GLIIHUHQWLDWH EHWZHHQ WKH KDUG QLFNHO EDUULHU DQG VRIWHU VOLGLQJ OD\HU ,I LQ GRXEW FRQVXOW
D EHDULQJ VSHFLDOLVW
&KHFN EHDULQJ VKHOO EXWWLQJ IDFH DQG UHDU VLGH RI EHDULQJ IRU IULFWLRQ FRUURVLRQ DQG SLWWLQJ ,I IULFWLRQ FRUURVLRQ LV
IRXQG UHSODFH EHDULQJ VKHOO DQG GHWHUPLQH FDXVH
3RVVLEOH FDXVHV 6FUHZV QRW VXIILFLHQWO\ SUHWHQVLRQHG DVVHPEO\ IDXOW EHDULQJ VKHOO VSUHDG GLPHQVLRQ LV RXWVLGH
WROHUDQFH OLPLW DQG GHIHFWLYH EHDULQJ VXSSRUW ERUH
0HDVXUH EHDULQJ VKHOOV VSUHDG GLPHQVLRQ
,I VSUHDG GLPHQVLRQ LV WRR ORZ VHH 7ROHUDQFH DQG :HDU /LPLWV /LVW UHSODFH EHDULQJ VKHOOV
(
3DJH
&KHFNLQJ FRQURG FDS VFUHZ

1RWH 5HSODFH FRQURG FDS VFUHZV ZLWK FUDFNHG
PDWLQJ IDFHV GXULQJ HDFK HQJLQH GLVDVVHP
EO\
&KHFN VFUHZ KHDG VXSSRUW DQG WKUHDG DUURZV IRU
VFRULQJ RU GDPDJH UHSODFH VFUHZ LI QHFHVVDU\
0HDVXUH VKDIW OHQJWK RI FRQURG VFUHZ ZLWK GHSWK
JDXJH
)RU PD[ SHUPLVVLEOH VKDIW OHQJWK VHH &
,QVWDOOLQJ FRQURG EHDULQJ VKHOOV
&$87,21
%ORZ RXW PDWLQJ LQWHUIDFHV DUURZV RQ FRQQHFWLQJ

URG DQG FRQURG FDS ZLWK FRPSUHVVHG DLU DQG FKHFN
WKDW WKH\ DUH FOHDQ
,PSRUWDQW 7KH FUDFNHG EURNHQ LQWHUIDFHV PXVW
QRW EH GDPDJHG UHSODFH FRQQHFWLQJ
URG DV QHFHVVDU\
:LSH EHDULQJ VKHOO PDWLQJ IDFHV RQ FRQQHFWLQJ URG
DQG FRQURG FDS
1RWH 1HZ FRQURG EHDULQJ VKHOOV PXVW EH LQVWDOOHG

DV SDUW RI HYHU\ : RYHUKDXO
3ULRU WR LQVWDOOLQJ FRQURG EHDULQJ VKHOOV FRP
SDUH UHSDLU VWDJH PDUNLQJ RQ FRQQHFWLQJ URG
DQG LQ FUDQNVKDIW GDWD VKHHW
0DUN FRQURG EHDULQJ VKHOOV DFFRUGLQJ WR F\OLQGHU
QXPEHU RQ IURQW IDFH
SDUW QXPEHUV
:LSH ORZHU FRQURG EHDULQJ VKHOO EHDULQJ VKHOO ZLWK
RXW RLO ERUH RQ ERWK VLGHV DQG ILW LQ FRQURG FDS
6HFXULQJ OXJ DUURZ RI FRQURG EHDULQJ VKHOO PXVW VLW
LQ JURRYH LQ FRQURG EHDULQJ FRYHU
(
3DJH
&ODPS FRQURG LQ YLFH ZLWK DOXPLQLXP MDZV

:LSH XSSHU FRQURG EHDULQJ VKHOO EHDULQJ VKHOO
ZLWK RLO ERUH RQ ERWK VLGHV DQG ILW LQ FRQURG
LQ WKH JURRYH RI WKH FRQQHFWLQJ URG DQG WKH ERUH LQ
WKH FRQURG EHDULQJ VKHOO DQG FRQURG PXVW EH
DOLJQHG
$OLJQ FRQURG EHDULQJ VKHOO ZLWK DVVHPEO\ GHYLFH
) D
3ODFH FRQURG FDS LQ SRVLWLRQ RQ FRQURG PDNLQJ VXUH

WKDW VHULDO QXPEHUV DUURZV DUH DOLJQHG
&RDW WKUHDGV RI VFUHZ KHDG PDWLQJ IDFH DQG VFUHZ
KHDG VHDWLQJ VXUIDFHV ZLWK HQJLQH RLO
)LW FRQURG FDS VFUHZV
1RWH 0DQXDOO\ SUHVV FRQURG FDS LQWR SODFH ZKHQ
LQVWDOOLQJ FRQURG VFUHZV
(
3DJH
7R DYRLG WZLVWLQJ WKH FRQURG FODPS FRQURG LQ YLFH

DFFRUGLQJ WR GLDJUDP
3UHWLJKWHQ FRQURG VFUHZV ZLWK WRUTXH ZUHQFK DQG
VRFNHW WR VSHFLILHG SUHWLJKWHQLQJ WRUTXH
VHH &
0DUN VFUHZ KHDGV
7LJKWHQ FRQURG VFUHZV WKURXJK VSHFLILHG DGGLWLRQDO
DQJOH RI URWDWLRQ
$GMXVW ERUH JDXJH DQG GLDO JDXJH ZLWK PLFURPHWHU WR

EDVLF VL]H IRU FRQURG EHDULQJ ERUH DV SHU 7ROHUDQFH
) D
&RDW VOLGLQJ VXUIDFHV RI EHDULQJ VKHOOV ZLWK HQJLQH

RLO
0HDVXUH FRQURG EHDULQJ ERUH RI FRQURG
)RU OLPLW YDOXHV DQG PHDVXULQJ SRLQWV VHH 7ROHU
DQFH DQG :HDU /LPLWV /LVW
,I OLPLW YDOXHV DUH H[FHHGHG RU QRW DFKLHYHG UHSODFH
EHDULQJ VKHOOV RU FRQURG
1RWH &RQURG EHDULQJ VKHOOV DUH UHDG\ IRU LQVWDOOD
WLRQ ZKHQ VXSSOLHG 1R UHFRQGLWLRQLQJ PXVW
EH FDUULHG RXW
5HPRYH FRQURG VFUHZV FRQURG FDS DQG EHDULQJ
VKHOOV
3URWHFW EHDULQJ VKHOOV IURP GDPDJH
(
3DJH
0HDVXULQJ FRQURG EDVLF ERUH

&RUUHFWO\ ILW FRQURG FDS RQ FRQQHFWLQJ URG
&KHFN WKDW PDUNLQJV DUURZV IRU FRQURG FDS WR FRQ
URG DUH DOLJQHG
0DQXDOO\ SUHVV FRQURG FDS LQWR SODFH LQVHUW FRQURG
VFUHZ DQG WLJKWHQ WR 1P
1RWH 2QO\ DWWDFK FRQURG EHDULQJ FRYHU WR FRQURG
ZLWK EHDULQJ VKHOO LQVWDOOHG
$GMXVW ERUH JDXJH WR EDVLF VL]H FRQURG EHDULQJ ERUH

DQG PHDVXUH
)RU EDVLF VL]H RI FRQURG EDVLF ERUH OLPLW YDOXHV DQG
PHDVXULQJ SRLQWV VHH 7ROHUDQFH DQG :HDU /LPLWV
/LVW
,I OLPLW YDOXHV DUH H[FHHGHG UHSODFH FRQURG
0HDVXULQJ FRQURG EXVKLQJ ERUH

$GMXVW ERUH JDXJH WR ]HUR GLPHQVLRQ IRU FRQURG
EXVK ERUH DV SHU 7ROHUDQFH DQG :HDU /LPLWV /LVW DQG
PHDVXUH ERUH RI FRQURG EXVK
,I OLPLW YDOXHV DUH H[FHHGHG UHSODFH FRQURG EXVK
(
3DJH
& $VVHPEO\

1RWH $OZD\V PDNH VXUH WKDW DOO FRPSRQHQWV DUH SHUIHFWO\ FOHDQ
,QVWDOOLQJ SLVWRQ ULQJV
7XUQ FRLOHG VSULQJ H[SDQGHU LQ RLO VFUDSHU ULQJ
WR RIIVHW ULQJ VSULQJ EXWWLQJ IDFH DUURZ WR RLO VFUDSHU
ULQJ EXWW E\
) D
,Q VHTXHQFH IURP ERWWRP WR WRS RLO VFUDSHU ULQJ

ILUVW LQVHUW SLVWRQ ULQJV ZLWK SLVWRQ ULQJ SOLHUV LQWR
DQQXODU JURRYHV RQ SLVWRQ
1RWH 6WUHWFK SLVWRQ ULQJV DUURZV RQO\ XQWLO WKH\
FDQ EH ILWWHG RYHU WKH SLVWRQ 'R QRW RYHU
VWUHWFK SLVWRQ ULQJV DV WKH\ PD\ EUHDN
0DNH VXUH SLVWRQ ULQJV DUH LQVWDOOHG LQ FRUUHFW VH
TXHQFH VHH QH[W LOOXVWUDWLRQ
723 PDUNLQJ RQ SLVWRQ ULQJV PXVW SRLQW XSZDUGV
1RWH 2LO VFUDSHU ULQJ GRHV QRW KDYH D 723 PDUN
LQJ LQVWDOODWLRQ SRVLWLRQ DV UHTXLUHG
&KHFN WKDW SLVWRQ ULQJV PRYH IUHHO\ LQ WKHLU JURRYHV
6HTXHQFH RI SLVWRQ ULQJV

.H\VWRQHW\SH FRPSUHVVLRQ ULQJ
7DSHUIDFH FRPSUHVVLRQ ULQJ
2LO VFUDSHU ULQJ
1RWH 3LVWRQ ULQJV PXVW RQO\ EH UHSODFHG LQ VHWV
+RQH F\OLQGHU OLQHUV LI QHZ SLVWRQ ULQJV DUH
LQVWDOOHG
(
3DJH
,QVWDOOLQJ FRQURG LQ SLVWRQ
&$87,21
5LVN RI LQMXU\
8VLQJ FLUFOLS SOLHUV LQVHUW VQDS ULQJ LQWR SLVWRQ
ERVV ERUH
1RWH 0DNH VXUH VQDS ULQJ LV SHUIHFWO\ VHDWHG LQ
JURRYH 6QDS ULQJ PXVW EH VHDWHG VHFXUHO\ LQ
WKH JURRYH
&$87,21
%ORZ WKURXJK OXEH RLO ERUHV LQ FRQURG ZLWK FRP

SUHVVHG DLU DQG HQVXUH WKDW WKH\ DUH SHUIHFWO\ FOHDQ
:LSH GRZQ SLVWRQ SLQ FRQURG EXVKLQJ DQG SLVWRQ SLQ

ERUH ZLWK9
FKDPRLV
D OHDWKHU DQG FRDW ZLWK HQJLQH RLO
,QVHUW FRQURG DFFRUGLQJ WR PDUNLQJV LQWR UHOHYDQW
SLVWRQ LQ VXFK D ZD\ WKDW WKH ORQJHU HQG $ RI WKH
DQJOHVSOLW FRQURG IDFHV UHFHVV % IRU RLO VSUD\
QR]]OH
(
3DJH
3XVK DVVRFLDWHG SLVWRQ SLQ LQWR SLVWRQ DQG FRQ

URG XQWLO VHDWHG DJDLQVW VQDS ULQJ LQVWDOOHG EH
IRUHKDQG DUURZ
&$87,21
5LVN RI LQMXU\
,QVHUW VHFRQG VQDS ULQJ ZLWK FLUFOLS SOLHUV
1RWH 0DNH VXUH VQDS ULQJ LV SHUIHFWO\ VHDWHG LQ
JURRYH 6QDS ULQJ PXVW EH VHDWHG VHFXUHO\ LQ
WKH JURRYH
(
3DJH
& ,QVWDOODWLRQ
,QVWDOOLQJ SLVWRQ ZLWK FRQURG LQ DVVHPEO\ GROO\

SHUIHFWO\ FOHDQ
,I QHZ SLVWRQV DUH LQVWDOOHG DVVLJQ HDFK SLVWRQ WR WKH
UHVSHFWLYH F\OLQGHU OLQHU LQ DFFRUGDQFH ZLWK WKH WROHU
DQFH JURXS GHVLJQDWLRQ
7KH WROHUDQFH JURXS GHVLJQDWLRQ DUURZV LV VWDPSHG
RQ WKH SLVWRQ FURZQ DQG HGJH RI OLQHU
'HVLJQDWLRQ
3LVWRQ Ã &\OLQGHU OLQHU
%$ Ã $ RU %
%& Ã % RU &
6SUD\ WKH SLVWRQ DQG SLVWRQ ULQJV ZLWK HQJLQH RLO

3RVLWLRQ SLVWRQ ULQJ EXWWV DUURZV FRQVHFXWLYHO\ DW
E LQWHUYDOV
*XLGH SLVWRQ ULQJ EDQG FODPS YLD SLVWRQ ULQJV DQG

FODPS
1RWH ,W PXVW VWLOO QRW EH SRVVLEOH WR PRYH WKH
VOHHYH RI WKH SLVWRQ ULQJ EDQG FODPS UHWHQ
VLRQ JDLWHU LI QHFHVVDU\
) D
(
3DJH
&$87,21
%ORZ RXW LQWHUIDFHV DUURZV RQ FRQQHFWLQJ URG DQG

FRQURG FDS ZLWK FRPSUHVVHG DLU DQG FKHFN WKDW WKH\
DUH FOHDQ
,PSRUWDQW 7KH FUDFNHG EURNHQ LQWHUIDFHV PXVW
QRW EH GDPDJHG UHSODFH FRQQHFWLQJ
URG DV QHFHVVDU\
:LSH EHDULQJ VKHOO PDWLQJ IDFHV RQ FRQQHFWLQJ URG
DQG FRQURG FDS

SDUW QXPEHUV
:LSH ORZHU FRQURG EHDULQJ VKHOO EHDULQJ VKHOO ZLWK
RXW RLO ERUH RQ ERWK VLGHV DQG LQVHUW LQWR FRQURG FDS
LQ DFFRUGDQFH ZLWK PDUNLQJV
LQ JURRYH LQ FRQURG FDS
&RDW IULFWLRQ IDFH RI FRQURG EHDULQJ VKHOO ZLWK HQJLQH
RLO
:LSH XSSHU FRQURG EHDULQJ VKHOO EHDULQJ VKHOO ZLWK

RLO ERUH RQ ERWK VLGHV DQG LQVHUW LQWR FRQURG LQ DF
FRUGDQFH ZLWK PDUNLQJV
1RWH 3ULRU WR LQVWDOOLQJ EHDULQJ VKHOO QRWH UHVSHFW
LYH VWDJH RQ FRQQHFWLQJ URG DQG FUDQNVKDIW
MRXUQDO VHH GDWD VKHHWV
LQ JURRYH LQ FRQURG
%RUH LQ WKH FRQURG EHDULQJ VKHOO DQG FRQURG PXVW EH
DOLJQHG
&RDW IULFWLRQ IDFH RI FRQURG EHDULQJ VKHOO ZLWK HQJLQH
RLO
(
3DJH
0HDVXUH VKDIW OHQJWK RI FRQURG VFUHZV IRU PD[

VKDIW OHQJWK VHH &
&RDW WKUHDGV DQG VFUHZ KHDG VHDWLQJ VXUIDFHV DU
URZV ZLWK HQJLQH RLO
&KHFN WKDW PDUNLQJV DUURZV IRU FRQURG FDS WR FRQ

URG DUH DOLJQHG
,PSRUWDQW 2QO\ FRQURGV RI WKH VDPH W\SH PXVW EH

LQVWDOOHG RQ D FUDQNSLQ FRQQHFWLQJ URG
ZLWK FUDFNHG PDWLQJ IDFH RU FRQQHFWLQJ
URG ZLWK WRRWKHG PDWLQJ IDFH
5RWDWH FUDQNFDVH LQ DVVHPEO\ GROO\ XQWLO F\OLQGHU
OLQHUV DUH KRUL]RQWDO
7XUQ FUDQNSLQ RI FUDQNVKDIW RI SLVWRQ WR EH LQ
VWDOOHG DQG FRQQHFWLQJ URG DFFRUGLQJ WR VNHWFK WR
DVVHPEO\ SRVLWLRQ
:LSH FUDQNSLQ DQG UXQQLQJ VXUIDFH RI F\OLQGHU OLQHU
DQG VSUD\ ZLWK HQJLQH RLO
,QVHUW SLVWRQ DFFRUGLQJ WR PDUNLQJV LQ DVVRFLDWHG
F\OLQGHU OLQHU XQWLO WKH SLVWRQ ULQJ EDQG FODPS LV LQ
FRQWDFW ZLWK WKH F\OLQGHU OLQHU
(
3DJH
7KH UHFHVV DUURZ IRU WKH RLO VSUD\ QR]]OH RQ WKH

SLVWRQ SRLQWV LQZDUGV WR WKH HQJLQH FHQWUH
1RWH ,Q RUGHU WR JXLGH WKH FRQURG DQG DYRLG GDP
DJH WR WKH RLO VSUD\ QR]]OH SLVWRQ LQVWDOODWLRQ
PXVW EH FDUULHG RXW E\ WZR SHRSOH
*HQWO\ WXUQ SLVWRQ ZKHQ LQVHUWLQJ VR WKDW WKH RLO
VSUD\ QR]]OH LV QRW GDPDJHG ZKHQ WKH FRQURG LV LQ
VWDOOHG
,I WKH RLO VSUD\ QR]]OH LV GDPDJHG UHPRYH VSUD\
QR]]OH DQG UHSODFH
3UHVV LQ SLVWRQ XQWLO WKH FRQURG EHDULQJ VKHOO ILWV
H[DFWO\ RQ FUDQNSLQ RI FUDQNVKDIW WXUQ FUDQNVKDIW LI
QHFHVVDU\
5HPRYH SLVWRQ ULQJ EDQG FODPS
$OLJQ FRQURG EHDULQJ VKHOO ZLWK DVVHPEO\ GHYLFH

KROGLQJ SLVWRQ DQG FRQQHFWLQJ URG ILUPO\ LQ SRVLWLRQ
WR SUHYHQW GLVSODFHPHQW RI FRQURG

) D
)LW FRQURG FDS FRUUHFWO\ PDUNLQJ PXVW EH RQ RQH

VLGH DQG PDQXDOO\ LQVHUW FRQURG VFUHZV
1RWH 0DQXDOO\ SUHVV FRQURG FDS LQWR SODFH ZKHQ
LQVWDOOLQJ FRQURG VFUHZV
3UHWLJKWHQ FRQURG VFUHZV ZLWK WRUTXH ZUHQFK DQG
VRFNHW WR VSHFLILHG SUHWLJKWHQLQJ WRUTXH VHH
&
&KHFN WKDW FRQURG KDV D[LDO SOD\
,I WKHUH LV QR D[LDO FOHDUDQFH UHPRYH FRQURG FDS
DQG UHSODFH GDPDJHG EHDULQJ VKHOO
0DUN VFUHZ KHDGV DUURZV
7LJKWHQ FRQURG VFUHZV WKURXJK VSHFLILHG DGGLWLRQDO
DQJOH RI URWDWLRQ
&KHFN WKDW FRQURG KDV D[LDO SOD\
(
3DJH
%DU FUDQNVKDIW DQG HQVXUH WKDW WKHUH LV HDVH RI

PRYHPHQW EHWZHHQ RLO VSUD\ QR]]OH SLVWRQ
DQG FRQURG
0HDVXULQJ SLVWRQ SURWUXVLRQ

1RWH 0HDVXUH SURWUXVLRQ EHWZHHQ SLVWRQ FURZQ
FUDQNFDVH SDUWLWLRQ ZLWKRXW WKH F\OLQGHU KHDG
JDVNHW LQ SRVLWLRQ
7R HOLPLQDWH SLVWRQWLOW FOHDUDQFH SHUIRUP
PHDVXUHPHQWV LQ GLUHFWLRQ RI SLVWRQ SLQ
&OHDQ UHVLGXHV IURP SLVWRQ DQG FUDQNFDVH SDUWLWLRQ
7XUQ WKH FUDQNVKDIW VORZO\ LQ HQJLQH GLUHFWLRQ RI URWD
WLRQ XQWLO WKH SLVWRQ EHLQJ PHDVXUHG LV DSSUR[ FP
EHIRUH 7'&
6HFXUH GLDO JDXJH ZLWK SUHWHQVLRQ LQ WKH EULGJH
PHWHU
3RVLWLRQ EULGJH PHWHU DQG GLDO JDXJH VW\OXV DUURZ
RQ FUDQNFDVH SDUWLWLRQ DQG VHW GLDO JDXJH VFDOH WR
]HUR
0RYH EULGJH PHWHU DQG IHHOHU IURP WKH FUDQNFDVH

SDUWLWLRQ RYHU WKH RXWHU SLVWRQ IDFH DUURZ KROG EDFN
WKH GLDO JDXJH VW\OXV ZKLOH GRLQJ WKLV
WLRQ XQWLO WKH GLDO JDXJH SRLQWHU QR ORQJHU PRYHV RU
WKH SLVWRQ LV SUHFLVHO\ DW 7'&
5HDG RII DQG PDNH D QRWH RI SLVWRQ SURWUXVLRQ DW GLDO
JDXJH
0HDVXUH SLVWRQ SURWUXVLRQ RI DOO SLVWRQV LQ WKH VDPH
ZD\
)RU VSHFLILHG YDOXHV VHH 7ROHUDQFH DQG :HDU /LPLWV
/LVW
,I WKH WROHUDQFH GHYLDWLRQ LV LPSHUPLVVLEOH FKHFN WKH
DIIHFWHG FRQURG DQG UHSODFH LI QHFHVVDU\
(
3DJH

2SHUDWLRQV 6HH

[ ,QVWDOO HQJLQH %
[ [ ,QVWDOO F\OLQGHU KHDG &
[ [ ,QVWDOO FKDUJH DLU FRRODQW SLSH &
(
3DJH
(
&\OLQGHU +HDG *URXS
3DJH
&RQWHQWV
& &\OLQGHU +HDG ZLWK )L[WXUHV
& &\OLQGHU KHDG

& *HQHUDO YLHZ
& 6SHFLDO WRRO
& 5HPRYDO
& 'LVDVVHPEO\
& $VVHPEO\
& ,QVWDOODWLRQ
(
*URXS &\OLQGHU +HDG
3DJH
& &\OLQGHU +HDG ZLWK )L[WXUHV
&\OLQGHU KHDG :DVKHU D &KDUJH DLU
9DOYH VSULQJ UHWDLQHU ([KDXVW YDOYH E (QJLQH FRRODQW
9DOYH VSULQJ 9DOYH VHDW LQVHUW RXWOHW F ([KDXVW
2ULQJ &\OLQGHU KHDG JDVNHW G /HDNRII IXHO
9DOYH FROOHW ([KDXVW YDOYH H )XHO VXSSO\
9DOYH VKDIW JDVNHW 3URWHFWLYH VOHHYH I (QJLQH RLO
9DOYH JXLGH 'RXEOHKH[ VFUHZ
(
&\OLQGHU +HDG *URXS
3DJH
&$87,21

078 ''&
(PHU\ FORWK
5RWDU\ ZLUH EUXVK
9DOYH JXLGH FOHDQLQJ EUXVK
0DJQLI\LQJ JODVV
6SUD\ JXQ
,QVSHFWLRQ ODPS
/LTXLG QLWURJHQ
(QJLQH RLO
&OHDQLQJ DJHQW FDUERQGHSRVLW UHPRYHU 0HLVWHU 3URSHU
'HQDWXUDWHG HWKDQRO
0XOWLSXUSRVH JUHDVH 6KHOO 5HWLQD[ $
'U\ FRPSUHVVHG DLU

SHQHWUDQW G\H

(
*URXS &\OLQGHU +HDG
3DJH
(
&\OLQGHU +HDG *URXS
3DJH
& &\OLQGHU +HDG

& *HQHUDO 9LHZ
'RXEOHKH[ VFUHZ
)RU WLJKWHQLQJ WRUTXH VHH QH[W LOOXVWUDWLRQ
&\OLQGHU KHDG
&\OLQGHU KHDG JDVNHW
6SULQJ SLQ
(
*URXS &\OLQGHU +HDG
3DJH
&\OLQGHU KHDG WLJKWHQLQJ GLDJUDP
0D[ VKDIW OHQJWK PP

3UHWLJKWHQLQJ WRUTXH LQ VWDJHV
VW VWDJH 1P
QG VWDJH 1P
UG VWDJH 1P
WK VWDJH 1P
$QJOH RI IXUWKHU URWDWLRQ LQ VWDJHV
VW VWDJH
QG VWDJH
&\OLQGHU KHDG ZLWK YDOYHV
3URWHFWLYH VOHHYH 7KUHDGORFNLQJ DJHQW 9DOYH VSULQJ VHDW

&\OLQGHU KHDG %DOO 9DOYH VSULQJ UHWDLQHU
7LJKWHQLQJ WRUTXH
9DOYH VHDW LQVHUW LQOHW 1P 1P 9DOYH LQOHW 9DOYH FROOHWV
9DOYH VHDW LQVHUW RXWOHW 2ULQJ 9DOYH RXWOHW 9DOYH VKDIW JDVNHW
9DOYH JXLGH (QG FRYHU 9DOYH VSULQJ 3LQ
(
&\OLQGHU +HDG *URXS
3DJH
&\OLQGHU KHDG ZLWKRXW YDOYHV
&\OLQGHU KHDG 9DOYH JXLGH 3URWHFWLYH VOHHYH

2ULQJ (QG FRYHU
3LQ 9DOYH VHDW LQVHUW RXWOHW
9DOYH VHDW LQVHUW LQOHW
(
*URXS &\OLQGHU +HDG
3DJH
$UUDQJHPHQW RI YDOYH JXLGHV LQ F\OLQGHU KHDG
9DOYH JXLGH LQOHW YDOYH D 9DOYH JXLGH ERUH GLDPHWHU LQ F\OLQGHU & 9DOYH JXLGH OHQJWK
KHDG
9DOYH JXLGH H[KDXVW YDOYH ' 'LVWDQFH IURP YDOYH JXLGH WRS HGJH WR
D 9DOYH JXLGH ERUH GLDPHWHU LQ F\OLQGHU YDOYH VSULQJ PDWLQJ VXUIDFH
&\OLQGHU KHDG
KHDG
$ 9DOYH JXLGH RXWVLGH GLDPHWHU
E 9DOYH JXLGH LQVLGH GLDPHWHU
(
&\OLQGHU +HDG *URXS
3DJH
$UUDQJHPHQW RI YDOYH VHDW LQVHUWV LQ F\OLQGHU KHDG
9DOYH VHDW LQVHUW RXWOHW $ 9DOYH VHDW LQVHUW RXWVLGH GLDPHWHU ' 'LVWDQFH EHWZHHQ F\OLQGHU KHDG SDUWLWLRQ
DQG YDOYH VHDW LQVHUW HQG IDFH
9DOYH VHDW LQVHUW LQOHW % %RUH GLDPHWHU RI YDOYH VHDW LQVHUWV LQ
F\OLQGHU KHDG ( 9DOYH VHDW LQVHUW KHLJKW
& %RUH GHSWK RI YDOYH VHDW LQVHUWV LQ F\OLQ

GHU KHDG
(
*URXS &\OLQGHU +HDG
3DJH
& 6SHFLDO 7RRO
6RFNHW IRU F\OLQGHU KHDG VFUHZV

6RFNHW IRU SURWHFWLYH VOHHYH
9DOYH LQVWDOODWLRQ DQG UHPRYDO WRRO
9DOYH VHDW URWDWLQJ XQLW 9'6
7HVW NLW IRU YDOYH VHDWV
,QWHUQDO H[WUDFWRU DQG FRXQWHU VXSSRUWV IRU YDOYH VHDW
5HPRYDO PDQGUHO IRU YDOYH JXLGHV
0DQGUHO DQG VSDFHU EXVK YDOYH JXLGH LQVWDOODWLRQ
0DQGUHO IRU YDOYH VHDW LQVWDOODWLRQ
0DQGUHO IRU YDOYH VWHP VHDO
6OHHYH IRU YDOYH VWHP VHDO
3OXJ JDXJH IRU YDOYH JXLGHV
5HDPHU IRU YDOYH JXLGHV

2SHUDWLRQV 6HH
[ 5HPRYH HQJLQH %
[ 'UDLQ FKDUJH DLU FRRODQW LI QHFHVVDU\ 2SHUDWLQJ ,QVWUXFWLRQV
[ [ 5HPRYH FKDUJH DLU FRRODQW SLSH LI QHFHVVDU\ &
[ [ 5HPRYH JXLGH WXEH DQG RLO GLSVWLFN DV UHTXLUHG &
[ [ 5HPRYH ILOOLQJ SLSH IRU HQJLQH RLO LI QHFHVVDU\ &
[ [ 5HPRYH SXVKURGV &
(
&\OLQGHU +HDG *URXS
3DJH
& 5HPRYDO
5HPRYLQJ F\OLQGHU KHDG

(YHQO\ UHPRYH GRXEOHKH[ VFUHZV IRU F\OLQGHU
KHDG ZLWK ODUJH UDWFKHW DQG VRFNHW
/B
&$87,21
5LVN RI LQMXU\
7RXFK FRPSRQHQWV RQO\ ZKHQ ZHDULQJ SURWHF
WLYH JORYHV
/LIW F\OLQGHU KHDG IURP FUDQNFDVH DQG ORZHU RQWR

VXLWDEOH VXSSRUW
1RWH :LWK LQMHFWRU LQVWDOOHG SODFH F\OLQGHU KHDG WR
WKH VLGH ,QMHFWRU SURWUXGHV DW ERWWRP RI F\OLQ
GHU KHDG
/B
5HPRYH F\OLQGHU KHDG

8VLQJ D VXLWDEOH EODQNLQJ SOXJ VHDO RLO ERUHV DQG
FRRODQW ERUHV LQ FUDQNFDVH
,I QHFHVVDU\ HJ GXH WR GDPDJH UHPRYH VSULQJ
SLQV DUURZV IURP FUDQNFDVH
/B
(
*URXS &\OLQGHU +HDG
3DJH
& 'LVDVVHPEO\

5HPRYLQJ YDOYHV
)LW F\OLQGHU KHDG RQ F\OLQGHU KHDG LQWHUIDFH DQG
WLJKWHQ
,QVHUW VWXG RI YDOYH OLIW LQWR WKUHDGHG ERUH LQ F\OLQ
GHU KHDG
&$87,21
6SULQJ SUHWHQVLRQ
5LVN RI LQMXU\
2QO\ XVH VSHFLILHG WRRO
3UHVV GRZQ YDOYH VSULQJ UHWDLQHU ZLWK YDOYH OLIW
DUURZ
$W WKH VDPH WLPH KROG WKH YDOYH ILUPO\ LQ SRVLWLRQ
DJDLQVW WKH YDOYH KHDG
8VLQJ EDU PDJQHW OLIW RXW YDOYH FROOHWV

5HOHDVH YDOYH VSULQJ
$IWHU UHPRYLQJ DOO YDOYH FROOHWV UHPRYH YDOYH OLIW
5HPRYH YDOYH VSULQJ UHWDLQHU
5HPRYH YDOYH VSULQJ LQOHW DQG RXWOHW
8VLQJ EDU PDJQHW OLIW RXW YDOYH VSULQJ VHDW
/D\ F\OLQGHU KHDG RQ VLGH $

0DUN H[KDXVW YDOYH DQG LQOHW YDOYH DFFRUGLQJ
WR WKHLU LQVWDOODWLRQ SRVLWLRQ
5HPRYH YDOYHV IURP YDOYH JXLGHV
(
&\OLQGHU +HDG *URXS
3DJH
3ODFH YDOYHV LQ VWRUDJH IUDPH WR SURWHFW WKHP

IURP GDPDJH
* E
5HPRYLQJ YDOYH VKDIW JDVNHWV

)LW F\OLQGHU KHDG RQ F\OLQGHU KHDG LQWHUIDFH
3UHVVRII YDOYH VKDIW JDVNHWV ZLWK WZR VFUHZGULYHUV
IURP YDOYH JXLGHV WDNH FDUH QRW WR GDPDJH YDOYH
JXLGH
5HPRYLQJ SURWHFWLYH VOHHYH

6HFXUH F\OLQGHU KHDG ILUPO\ LQ SRVLWLRQ
8VH VRFNHW ZUHQFK WR XQVFUHZ SURWHFWLYH VOHHYH
IURP F\OLQGHU KHDG
1RWH 0DNH VXUH WKDW VRFNHW LV FRUUHFWO\ HQJDJHG LQ
VOHHYH JURRYH
5HPRYH 2ULQJ IURP F\OLQGHU KHDG
9D
(
*URXS &\OLQGHU +HDG
3DJH

&OHDQ DOO FRPSRQHQWV ZLWK FROG FOHDQHU
&$87,21
:KHQ XVLQJ WKHVH FKHPLFDO VXEVWDQFHV LW LV HVVHQWLDO WR REVHUYH WKH PDQXIDFWXUHU·V LQVWUXFWLRQV IRU XVH
VDIHW\ LQVWUXFWLRQV DQG ZDVWH GLVSRVDO VSHFLILFDWLRQV
,I QHFHVVDU\ SUHWUHDW RLOFDUERQ GHSRVLWV RQ YDOYHV DQG F\OLQGHU KHDGV ZLWK FDUERQGHSRVLW UHPRYHU
$IWHU FOHDQLQJ ZLWK FDUERQGHSRVLW UHPRYHU ULQVH FRPSRQHQWV LQ ZDWHU XQWLO QR IXUWKHU UHVLGXHV DUH ZDVKHG RII
&KHFN F\OLQGHU KHDG LQWHUIDFHV FRPEXVWLRQ FKDPEHU VLGH IRU HYHQQHVV DQG GDPDJH DQG SRURXV DUHDV UHFRQGL
WLRQ DV QHFHVVDU\
8VLQJ UHG SHQHWUDQW G\H PHWKRG FUDFNWHVW F\OLQGHU KHDG PDWLQJ IDFH DQG YDOYH VHDWV UHSODFH FRPSRQHQWV DV
QHFHVVDU\
,I FUDFNV DUH IRXQG LQ WKH F\OLQGHU KHDG PDWLQJ IDFH LW FDQ EH UHFRQGLWLRQHG XS WR WKH ZHDU OLPLW
6XUIDFH TXDOLW\ URXJKQHVV KHLJKW VKDIW KHLJKW RI F\OLQGHU KHDG LQWHUIDFHV PXVW EH PDLQWDLQHG
0DWHULDO UHPRYDO PXVW QRW EH EHORZ PLQLPXP SHUPLVVLEOH KHLJKW F\OLQGHU KHDG WRWDO KHLJKW
)RU LQVWUXFWLRQV RQ PDFKLQLQJ DQG OLPLW YDOXHV VHH 7ROHUDQFH DQG :HDU /LPLWV /LVW
$IWHU UHFRQGLWLRQLQJ UHSHDW WKH FUDFN WHVW
,I WKHUH LV VWLOO HYLGHQFH RI FUDFNV UHSODFH F\OLQGHU KHDG
,I FUDFNV DUH IRXQG LQ WKH YDOYH VHDW LQVHUWV WKHQ WKH\ PXVW EH UHSODFHG
&KHFN PDWLQJ IDFH RI SURWHFWLYH VOHHYH LQ F\OLQGHU KHDG IRU VFRULQJ DQG ZHDU UXE GRZQ LI ZLWKLQ WROHUDQFH
6HH 7ROHUDQFH DQG :HDU /LPLWV /LVW
&KHFN WKUHDG RI SURWHFWLYH VOHHYH LQ F\OLQGHU KHDG IRU HDVH RI PRYHPHQW DQG ZHDU UHFRQGLWLRQ DV QHFHVVDU\
&KHFN YDOYH VSULQJ VHDWV DQG ZHGJHV IRU ZHDU UHSODFH DV QHFHVVDU\
&KHFN DOO WKUHDGV LQ F\OLQGHU KHDG IRU HDVH RI PRYHPHQW UHFKDVH WKUHDGV DV QHFHVVDU\
5HSODFH F\OLQGHU KHDG JDVNHWV DQG 2ULQJV
5HSODFH YDOYH VKDIW JDVNHWV DV SDUW RI : PDMRU RYHUKDXO
&KHFNLQJ SLQ
&KHFN SLQ IRU GDPDJH DQG ZHDU UHSODFH DV
QHFHVVDU\
0HDVXUH RXWVLGH GLDPHWHU RI SLQ ZLWK PLFURPHWHU
,I OLPLW YDOXH LV QRW DFKLHYHG VHH 7ROHUDQFH DQG
:HDU /LPLWV /LVW UHSODFH SLQ DV QHFHVVDU\
0HDVXUH SURWUXVLRQ $ RI SLQ
$ PP
)D
(
&\OLQGHU +HDG *URXS
3DJH
5HSODFLQJ HQG FRYHU

1RWH 5HPRYH HQG FRYHU RQO\ LI QHFHVVDU\ HJ LQ
HYHQW RI OHDNDJHV
8VLQJ SXQFK FDUHIXOO\ WDS FRYHU LQWR ERUH DW RQH
VLGH DUURZ XQWLO LW WLOWV 8VH SOLHUV WR UHPRYH FRYHU
IURP ERUH 7KHQ ZLWKGUDZ FRYHU ZLWK SOLHUV
:KHQ UHPRYLQJ WDNH FDUH WKDW FRYHU GRHV QRW IDOO
LQWR ERUH DQG WKDW VHDOLQJ IDFH RI ERUH LV QRW GDP
DJHG
1RWH 1HYHU GULOO FRYHU DV PHWDO FKLSV LQ FRRODQW
MDFNHW RI F\OLQGHU KHDG FDQ FDXVH ORFDOL]HG
RYHUKHDWLQJ
)D
&OHDQ DQG GHJUHDVH VHDWLQJ IDFH RQ QHZ HQG FRYHU

DQG F\OLQGHU KHDG ERUH
&RDW VHDWLQJ IDFH RI F\OLQGHU KHDG ERUH ZLWK WKUHDG
ORFNLQJ DJHQW
8VLQJ D PDQGUHO LQVHUW HQG FRYHU IOXVK ZLWK ERUH LQ
F\OLQGHU KHDG
LQJ DJHQW VHH &
&KHFNLQJ F\OLQGHU KHDG VFUHZV

&KHFN VFUHZ KHDG VXSSRUW DQG WKUHDG DUURZV IRU
VFRULQJ RU GDPDJH UHSODFH VFUHZ LI QHFHVVDU\
0HDVXUH VKDIW OHQJWK ZLWK GHSWK JDXJH
)RU PD[ SHUPLVVLEOH VKDIW OHQJWK
VHH &
(
*URXS &\OLQGHU +HDG
3DJH
&KHFNLQJ YDOYHV
&KHFN YDOYHV IRU GDPDJH SLWWLQJ VFRULQJ DQG LQ
GHQWDWLRQV RQ SUHVVXUH VXUIDFH YDOYH NH\ZD\
VKDIW QHFN DQG SODWH
,I FKURPH SODWLQJ LV GDPDJHG RU ZRUQ WKURXJK LI LQ
GHQWDWLRQV RU VFRULQJ LV IRXQG RQ YDOYH VWHP RU
SLWWLQJ DW WUDQVLWLRQ IURP YDOYH KHDG WR YDOYH VWHP
UHSODFH YDOYHV
9DOYH NH\ZD\V PXVW QRW EH GDPDJHG DQG YDOYH
VHDWV PXVW QRW EH EXUQW
&KHFN YDOYHV IRU FRQFHQWULFLW\ DQG GLPHQVLRQDO
DFFXUDF\
5HJULQG YDOYH VHDW RQ D YDOYH JULQGLQJ PDFKLQH WR
FRPSHQVDWH PLQRU GHYLDWLRQV LQ WKH FRQFHQWULFLW\ RU
UHSODFH YDOYH
1RWH 'R QRW VWUDLJKWHQ YDOYHV
5HJULQGLQJ YDOYH VHDWV

1RWH 'R QRW UHPRYH PRUH PDWHULDO WKDQ LV DEVR
OXWHO\ QHFHVVDU\ WR DFKLHYH SHUIHFW YDOYH
VHDWLQJ
&ODPS YDOYH LQ YDOYH JULQGLQJ PDFKLQH DV
FORVH DV SRVVLEOH EHKLQG WKH YDOYH KHDG WR SUHYHQW
YLEUDWLRQV
6HW YDOYH VHDW JULQGLQJ DQJOH RQ YDOYH VHDW JULQGLQJ
PDFKLQH
*ULQG YDOYH VHDW ZLWK VOLJKW DGYDQFH XQWLO YDOYH VHDW
LV VPRRWK DQG IUHH IURP FKDWWHU PDUNV RYHU WKH HQ
WLUH FLUFXPIHUHQFH
0HDVXUH YDOYH VHDW ZLGWK
DUH H[FHHGHG UHSODFH YDOYH
)D
,I QHFHVVDU\ UHFRQGLWLRQ YDOYH VKDIW HQG RQ GHYLFH

SURYLGHG RQ YDOYH JULQGLQJ PDFKLQH
0HDVXUH YDOYH OHQJWK LI OLPLW YDOXH LV QRW DFKLHYHG
VHH 7ROHUDQFH DQG :HDU /LPLWV /LVW UHSODFH FRP
SRQHQWV DV QHFHVVDU\
8VLQJ WKH VXUIDFH FUDFNWHVWLQJ PHWKRG ZLWK IOXRU
HVFHQW SHQHWUDQW G\H FKHFN YDOYHV IRU FUDFNV UH
SODFH LI QHFHVVDU\
)D
(
&\OLQGHU +HDG *URXS
3DJH
&KHFNLQJ YDOYH VSULQJV

&KHFN YDOYH VSULQJ ZLWK YDOYH VSULQJ WHVWHU
DUH H[FHHGHG UHSODFH YDOYH VSULQJ
&KHFN YDOYH VSULQJV IRU LQGHQWDWLRQV IODWQHVV EXU
ULQJ DQG GHIRUPDWLRQ DQG UHSODFH LI QHFHVVDU\
* F
&KHFNLQJ YDOYH JXLGHV

&OHDQ ERUHV RI YDOYH JXLGHV ZLWK YDOYH JXLGH FOHDQ
LQJ EUXVK
&KHFN DOO YDOYH JXLGHV IRU ZHDU DQG GDPDJH UH
SODFH FRPSRQHQWV DV QHFHVVDU\
&KHFN YDOYH JXLGHV ZLWK SOXJ JDXJH IRU ZHDU
,I VLGH RI SOXJ JDXJH PDUNHG ZLWK ´µ LV DEOH WR SDVV
WKURXJK YDOYH JXLGH UHSODFH YDOYH JXLGH
5HSODFLQJ YDOYH JXLGHV
5HPRYLQJ YDOYH JXLGHV

3ODFH F\OLQGHU KHDG RQ K\GUDXOLF SUHVV
0DNH VXUH WKDW PDWLQJ IDFH IRU YDOYH JHDU KRXVLQJ LV
VHDWHG FRUUHFWO\
)URP WKH FRPEXVWLRQ VLGH SUHVV YDOYH JXLGH RXW RI
F\OLQGHU KHDG ZLWK UHPRYDO PDQGUHO
(
*URXS &\OLQGHU +HDG
3DJH
,QVWDOOLQJ YDOYH JXLGHV

&OHDQ YDOYH JXLGH ERUHV LQ F\OLQGHU KHDG
8VLQJ D ERUH JDXJH PHDVXUH YDOYH JXLGH GLDPHWHU
$ VHH & $UUDQJHPHQW RI YDOYH JXLGHV
LQ F\OLQGHU KHDG
,I GLPHQVLRQV GHYLDWH IURP WHVW YDOXHV UHSODFH F\OLQ
GHU KHDG
&KHFN DOLJQPHQW RI YDOYH JXLGH WR F\OLQGHU KHDG DV
SHU 7ROHUDQFH DQG :HDU /LPLWV /LVW
&$87,21
&KLOO QHZ YDOYH JXLGHV LQ OLTXLG QLWURJHQ IRU DSSUR[

WR PLQV
8VLQJ D PDQGUHO DQG VSDFHU EXVK SUHVVILW
WKH FRROHG YDOYH JXLGH LQ ERUH LQ WKH F\OLQGHU KHDG
0HDVXUH GLVWDQFH ' IURP WKH XSSHU HGJH RI WKH
YDOYH JXLGH WR WKH PDWLQJ IDFH RI WKH YDOYH VSULQJV
VHH & $UUDQJHPHQW RI YDOYH JXLGHV LQ
WKH F\OLQGHU KHDG
)RU VSHFLILHG GLVWDQFH VHH 7ROHUDQFH DQG :HDU /L
PLWV /LVW
8VLQJ D UHDPHU UHFRQGLWLRQ WKH YDOYH JXLGH ERUH

WR D ERUH GLDPHWHU RI PP
7XUQ UHDPHU RQO\ LQ D FORFNZLVH GLUHFWLRQ
(
&\OLQGHU +HDG *URXS
3DJH
8VLQJ D UHDPHU UHFRQGLWLRQ YDOYH JXLGH ERUH WR

ILQLVKHG GLPHQVLRQ % VHH & $UUDQJH
PHQW RI YDOYH JXLGHV LQ F\OLQGHU KHDG
7XUQ UHDPHU RQO\ LQ D FORFNZLVH GLUHFWLRQ
)RU GLPHQVLRQV DQG OLPLW YDOXHV VHH 7ROHUDQFH DQG
:HDU /LPLWV /LVW
&OHDQ ERUHV RI YDOYH JXLGHV ZLWK YDOYH JXLGH FOHDQ

LQJ EUXVK
&KHFN YDOYH JXLGHV ZLWK SOXJ JDXJH
´*2µ VLGH RI SOXJ JDXJH PXVW VOLGH WKURXJK YDOYH
JXLGH ZLWK RQO\ VOLJKW UHVLVWDQFH
´12*2µ VLGH RI SOXJ JDXJH VLGH PDUNHG ZLWK ´µ
PXVW QRW EH LQ FRQWDFW RWKHUZLVH UHSODFH YDOYH
JXLGH
&KHFNLQJ YDOYH VHDW LQVHUWV

&KHFN YDOYH VHDW LQVHUW RXWOHW DQG YDOYH VHDW
LQVHUW LQOHW IRU FUDFNV DQG YLVXDOO\ FKHFN FRQGL
WLRQ UHFRQGLWLRQ DQG UHSODFH DV UHTXLUHG
5HFRQGLWLRQ VHDWV
DIWHU H[WHQGHG SHULRGV RI RSHUDWLRQ
LI ILQGLQJV DUH QHJDWLYH HJ GDPDJHG VHDW VXU
IDFHV GHHS SLWWLQJ XQHYHQ YDOYH VHDWYDOYH WDSHU
EHGGLQJ SDWWHUQ
DIWHU LQVWDOODWLRQ RI QHZ YDOYH VHDW LQVHUWV
5HSODFH VHDWV LI
WKHUH DUH FUDFNV LQ WKH VHDW VXUIDFH
LI DUHDV DUH EXUQW WKURXJK
WKH UHFRQGLWLRQLQJ ZHDU OLPLW KDV EHHQ H[FHHGHG
(
*URXS &\OLQGHU +HDG
3DJH
9DOYH VHDW LQVHUW UHFRQGLWLRQLQJ
9DOYH VHDW URWDWRU DUUDQJHPHQW

6WRS SLQ
.QXUOHGKHDG VFUHZ
/RFNLQJ VFUHZ IRU VWRS SLQ
/RFNLQJ VFUHZ IRU NQXUOHGKHDG VFUHZ
6WHDG\ UHVW
7RRO VOLGH
/DWKH WRRO
9DOYH VHDW LQVHUW
9DOYH JXLGH
&\OLQGHU KHDG
7DS SLORW
0DFKLQLQJ KHDG
*HDUER[ KRXVLQJ
5DSLG DGMXVWHU
$GYDQFH URWDWRU
&RQH SLQ
&UDQN KDQGOH
9DOYH VHDW LQVHUW UHFRQGLWLRQLQJ

1RWH 9DOYH JXLGHV DUH LQVWDOOHG DQG PDFKLQHG WR
ILQLVKHG GLPHQVLRQ 0DFKLQH YDOYH VHDWV DW
LQOHW DQG RXWOHW YDOYH VHDW LQVHUW
&ODPS F\OLQGHU KHDG VR WKDW YDOYH JXLGH LV LQ
YHUWLFDO SRVLWLRQ WDNLQJ LQWR DFFRXQW WDS SLORW SURWUX
VLRQ WR ERWWRP
,QVHUW VXLWDEOH WDS SLORWV LQWR FOHDQ YDOYH JXLGH
&ODPS FROODU DUURZ PXVW UHVW RQ YDOYH JXLGH DW WRS
,QVHUW URWDWLQJ SLQV DQG DQG WXUQ LQ FORFNZLVH
GLUHFWLRQ WR WLJKWHQ WDS SLORWV ZLWK PRGHUDWH IRUFH
XQWLO WDS SLORW LV VHFXUHO\ VHDWHG +ROG DW ERWWRP WXUQ
WRS RQO\
7R UHPRYH KROG DW ERWWRP DQG WXUQ WRS ,I SLQV DUH
VWXEERUQ WDS SLORW OLJKWO\ DQG UHPRYH SLQV
(
&\OLQGHU +HDG *URXS
3DJH
6HOHFW UHTXLUHG PDFKLQLQJ KHDG

0DFKLQLQJ KHDG IRU LQOHW VHDW
0DFKLQLQJ KHDG IRU RXWOHW VHDW
0RXQW PDFKLQLQJ KHDG RQ JHDUER[ KRXVLQJ VR
WKDW WKH WRRWKHG SLQLRQ DUURZ HQJDJHV LQ RULILFH
SURYLGHG LQ PDFKLQLQJ KHDG
7KH PDFKLQLQJ KHDG PXVW EH VHDWHG IOXVK ZLWK JHDU
ER[ KRXVLQJ
,QVHUW VFUHZV ORRVHO\ VR WKDW PDFKLQLQJ KHDG FDQ
VWLOO EH PRYHG WR DGMXVW FOHDUDQFH VHH QH[W LOOXVWUD
WLRQ EHWZHHQ UDFN DQG WRRWKHG SLQLRQ
$OLJQ PDFKLQLQJ KHDG VR WKDW GLVWDQFH EHWZHHQ

WRRWKHG VLGH DUURZ RI WKH UDFN DQG WKH RSSRVLWH
VLGH RI UHFHVV LQ JHDUER[ KRXVLQJ LV EHWZHHQ
PP DQG PP
7KHQ WLJKWHQ ERWK VFUHZV
0RYH WKH WRRO VOLGH EDFNZDUGV DQG IRUZDUGV ZLWK
WKH UDSLG DGMXVWHU
,I WKH WRRO VOLGH GRHV QRW PRYH UHODWLYHO\ HDVLO\ UH
OHDVH ERWK VFUHZV DQG UHVHW
)LW VXLWDEOH ODWKH WRRO RQ VKDIW RI FODPSLQJ VFUHZ

DUURZ XQWLO EDVLF VXUIDFH $ RI ODWKH WRRO VOLW
PDNHV FRQWDFW ZLWK VFUHZ VKDIW
6HFXUH ODWKH WRRO E\ WLJKWHQLQJ FODPSLQJ VFUHZ
(
*URXS &\OLQGHU +HDG
3DJH
&DUHIXOO\ ILW URWDWRU RQ WDS SLORWV FRDWHG ZLWK RLO

XQWLO HLWKHU WKH VWRS SLQ FRQWDFWV WKH SLORWV RU WKH
ODWKH WRRO FRQWDFWV WKH F\OLQGHU KHDG
,PSRUWDQW $YRLG KDUG LPSDFW KDUG PHWDO FKLSV
HDVLO\
7XUQ UDSLG DGMXVWHU WR SRVLWLRQ FXWWHU DW FHQWHU RI
YDOYH VHDW ZKLOH VOLJKWO\ UDLVLQJ KHDG RI WRRO LI
QHFHVVDU\
+ROG URWDWRU VHFXUH ZLWK RQH KDQG DQG UHOHDVH ORFN

LQJ VFUHZ RI VWRS SLQ
&DUHIXOO\ ORZHU URWDWRU XQWLO WKH WRS RI ODWKH WRRO FRQ
WDFWV WKH YDOYH VHDW
*HQWO\ SUHVV VWRS SLQ GRZQ DUURZ DJDLQVW WKH WDS
SLORWV DQG WLJKWHQ ORFNLQJ VFUHZ
8VLQJ D VXLWDEOH VFUHZ VHFXUH EDVH RI VWHDG\

UHVW WR F\OLQGHU KHDG VHDOLQJ VXUIDFH
&ODPS FRQH SLQ KRUL]RQWDOO\ DSSUR[ LQ FHQWUH RI
SLQ ZLWK VWHDG\ UHVW SOLHUV
5RWDWRU PXVW QRZ WXUQ MXVW DV HDVLO\ DV EHIRUH
,I WKLV GRHV QRW RFFXU UHOHDVH FODPS RQ VWHDG\ UHVW
DQG UHFODPS XQWLO WKH URWDWRU FDQ EH HDVLO\ WXUQHG
6OLJKWO\ UDLVH URWDWRU DQG WXUQ UDSLGDGMXVWHU WR EULQJ
WXUQLQJ WRRO LQWR FRQWDFW ZLWK LQQHU HGJH RI YDOYH
VHDW
(
&\OLQGHU +HDG *URXS
3DJH
+ROG DGYDQFH DFWXDWRU DQG WXUQ FUDQN HYHQO\

LQ FORFNZLVH GLUHFWLRQ DUURZ
8VXDOO\ LUUHJXODU PDWHULDO UHPRYHG LV DSSDUHQW KHUH
$IWHU UHOHDVLQJ VOLJKWO\ UDLVH URWDWRU KHDG DQG XVH
WKH UDSLG DGMXVWHU WR PRYH WKH WXUQLQJ WRRO LQZDUGV
5HOHDVH ORFNLQJ VFUHZ DQG WXUQ NQXUOHG VFUHZ

DSSUR[LPDWHO\ JUDGDWLRQ PP VHH DUURZ
FRXQWHUFORFNZLVH
7LJKWHQ ORFNLQJ VFUHZ
5HSHDW PDFKLQLQJ SURFHVV
5HSHDW DGMXVWPHQW IRU FXWWLQJ XQWLO YDOYH VHDW IDFH
H[KLELWV XQLIRUP VXUIDFH
3HUIRUP ILQDO PDFKLQLQJ UXQ ZLWKRXW UHDGMXVWLQJ
FXWWHUV
2EVHUYH PDFKLQLQJ OLPLWV VHH 7ROHUDQFH DQG :HDU
/LPLWV /LVW
(
*URXS &\OLQGHU +HDG
3DJH
([WHUQDOO\ FRUUHFWLQJ YDOYH VHDW

5DLVH URWDWRU DQG UHOHDVH ORFNLQJ VFUHZ RI VWRS
SLQ
7XUQ UDSLG DGMXVWHU WR EULQJ WUDLO HGJH % RI WXUQ
LQJ WRRO & LQWR FRQWDFW ZLWK WKH RXWHU HGJH $ RI
WKH YDOYH VHDW
,PSRUWDQW &DUHIXOO\ ORZHU URWDWRU RQWR YDOYH VHDW
HGJH
*HQWO\ SUHVV VWRS SLQ GRZQ DJDLQVW WKH WDS SLORW DQG
WLJKWHQ ORFNLQJ VFUHZ
5HOHDVH ORFNLQJ VFUHZ DQG WXUQ NQXUOHG VFUHZ
DSSUR[LPDWHO\ JUDGDWLRQ FRXQWHUFORFNZLVH 5H
WLJKWHQ ORFNLQJ VFUHZ
+ROG URFNHU DUP LQ RQH KDQG DQG WKH RWKHU URFNHU
DUP LQ WKH RWKHU KDQG DQG WXUQ WKH URWDWRU LQ VWDJHV
DURXQG WKH WDS SLORWV 3UHVV WKH URWDWRU VOLJKWO\ GRZQ
ZDUGV XQWLO WKH RXWHU HGJH $ RI WKH YDOYH VHDW LV
DGMXVWHG WR WKH VHW GHSWKV
5HSHDW PDFKLQLQJ SURFHGXUH XQWLO WKH UHTXLUHG YDOYH
VHDW ZLGWK LV DFKLHYHG
)RU UHTXLUHG YDOYH VHDW ZLGWK VHH 7ROHUDQFH DQG
:HDU /LPLWV /LVW
5HPRYH URWDWRU
'R QRW UHPRYH WDS SLORW
&KHFNLQJ FRQFHQWULFLW\ RI YDOYH VHDW

0RXQW FODPS ULQJ RYHU WKH LQVWDOOHG WDS SLORW DQG
VHFXUH ILUPO\ LQ SRVLWLRQ
0RXQW WKH WHVWLQJ GHYLFH RQ WKH FODPS ULQJ
6HW IHHOHU RI WHVWLQJ GHYLFH ZLWK SUHORDG RQ YDOYH
VHDW FHQWUH DUURZ
7XUQ WKH WHVWLQJ GHYLFH VORZO\ DURXQG WKH WDS SLORW
&KHFN FRQFHQWULFLW\ RI YDOYH VHDW LQ UHODWLRQ WR YDOYH
JXLGH
)RU OLPLW YDOXHV VHH 7ROHUDQFH DQG :HDU /LPLWV
/LVW
5HFRQGLWLRQ YDOYH VHDW LQVHUW RQFH DJDLQ LI WKHUH LV
DQ\ GHYLDWLRQ IURP WKH WHVW YDOXHV
5HPRYH WHVWLQJ GHYLFH FODPS ULQJ DQG WDS SLORW
&DUHIXOO\ FOHDQ F\OLQGHU KHDG DIWHU PDFKLQLQJ
(
&\OLQGHU +HDG *URXS
3DJH
0HDVXULQJ YDOYH FOHDUDQFH WR F\OLQGHU KHDG

1RWH 8VH QHZ YDOYHV IRU PHDVXULQJ RU JULQG
UXQLQ YDOYHV EHIRUH LQVWDOODWLRQ

,QVHUW LQOHW YDOYHV DQG H[KDXVW YDOYHV DFFRUG
LQJ WR PDUNLQJ LQ F\OLQGHU KHDG
,QVWDOO GLDO JDXJH RQ GLDO JDXJH KROGHU
)LW GLDO JDXJH ZLWK SUHORDG RQ HQG IDFH RI F\OLQGHU
KHDG
6HW GLDO JDXJH VFDOH WR ´µ
6HW IHHOHU RQ YDOYH KHDG DQG PHDVXUH DQG WDNH QRWH
RI YDOYH FOHDUDQFH WR HQG IDFH
,I WKH UHFRUGHG YDOXHV DUH QRW ZLWKLQ WKH SHUPLWWHG
WROHUDQFHV FKHFN YDOYH VHDW LQVHUW RU YDOYH KHDG
)D
5HSODFLQJ YDOYH VHDW LQVHUW

5HPRYLQJ YDOYH VHDW LQVHUW IURP F\OLQGHU KHDG
&ODPS F\OLQGHU KHDG VR WKDW YDOYH JXLGH LV LQ
YHUWLFDO SRVLWLRQ WDNLQJ LQWR DFFRXQW WDS SLORW SURWUX
VLRQ WR ERWWRP
,QVHUW VXLWDEOH WDS SLORWV LQWR FOHDQ YDOYH JXLGH
&ODPS FROODU DUURZ PXVW UHVW RQ YDOYH JXLGH DW WRS
,QVHUW URWDWLQJ SLQV DQG DQG WXUQ LQ FORFNZLVH
GLUHFWLRQ WR WLJKWHQ WDS SLORWV ZLWK PRGHUDWH IRUFH
XQWLO WDS SLORW LV VHFXUHO\ VHDWHG +ROG DW ERWWRP WXUQ
WRS RQO\
7R UHPRYH KROG DW ERWWRP DQG WXUQ WRS ,I SLQV DUH
VWXEERUQ WDS SLORW OLJKWO\ DQG UHPRYH SLQV
(
*URXS &\OLQGHU +HDG
3DJH
0RXQW PDFKLQLQJ KHDG RQ JHDUER[ KRXVLQJ

VR WKDW WKH WRRWKHG SLQLRQ DUURZ HQJDJHV LQ RUL
ILFH SURYLGHG LQ PDFKLQLQJ KHDG
7KH PDFKLQLQJ KHDG PXVW EH VHDWHG IOXVK ZLWK JHDU
ER[ KRXVLQJ
,QVHUW VFUHZV ORRVHO\ VR WKDW PDFKLQLQJ KHDG FDQ
VWLOO EH PRYHG WR DGMXVW FOHDUDQFH VHH QH[W LOOXVWUD
WLRQ EHWZHHQ UDFN DQG WRRWKHG SLQLRQ
$OLJQ PDFKLQLQJ KHDG VR WKDW GLVWDQFH EHWZHHQ

WRRWKHG VLGH DUURZ RI WKH UDFN DQG WKH RSSRVLWH
VLGH RI UHFHVV LQ JHDUER[ KRXVLQJ LV EHWZHHQ
PP DQG PP
7KHQ WLJKWHQ ERWK VFUHZV
0RYH WKH WRRO VOLGH EDFNZDUGV DQG IRUZDUGV ZLWK
WKH UDSLG DGMXVWHU
,I WKH WRRO VOLGH GRHV QRW PRYH UHODWLYHO\ HDVLO\ UH
OHDVH ERWK VFUHZV DQG UHVHW
)LW ODWKH WRRO & RQ VKDIW RI FODPSLQJ VFUHZ

XQWLO EDVLF VXUIDFH RI ODWKH WRRO VOLW PDNHV FRQWDFW
ZLWK VFUHZ VKDIW
6HFXUH ODWKH WRRO E\ WLJKWHQLQJ FODPSLQJ VFUHZ
(
&\OLQGHU +HDG *URXS
3DJH
&DUHIXOO\ ILW URWDWRU RQ WDS SLORWV FRDWHG ZLWK RLO

XQWLO HLWKHU WKH VWRS SLQ FRQWDFWV WKH SLORWV RU WKH
ODWKH WRRO FRQWDFWV WKH F\OLQGHU KHDG
,PSRUWDQW $YRLG KDUG LPSDFW KDUG PHWDO FKLSV
HDVLO\
7XUQ UDSLG DGMXVWHU XQWLO ODWKH WRROV UHVWV DJDLQVW
WDS SLORW RU LV LQ IURQW RI YDOYH VHDW LQVHUW EXW QRW
UHVWLQJ DJDLQVW LW 5DLVH WKH URWDWLQJ KHDG VOLJKWO\
ZKLOH GRLQJ WKLV
+ROG URWDWRU VHFXUH ZLWK RQH KDQG DQG UHOHDVH ORFN

LQJ VFUHZ RI VWRS SLQ
&DUHIXOO\ ORZHU WKH URWDWRU XQWLO WKH WLS RI WKH ODWKH
WRRO LV DSSUR[ PP DERYH WKH LQVLGH HGJH RI WKH
YDOYH VHDW LQVHUW
*HQWO\ SUHVV VWRS SLQ GRZQ DUURZ DJDLQVW WKH WDS
SLORWV DQG WLJKWHQ ORFNLQJ VFUHZ
&ODPS FRQH SLQ KRUL]RQWDOO\ DSSUR[ LQ FHQWUH RI
SLQ ZLWK VWHDG\ UHVW SOLHUV
5RWDWRU PXVW QRZ WXUQ MXVW DV HDVLO\ DV EHIRUH
,I WKLV GRHV QRW RFFXU UHOHDVH FODPS RQ VWHDG\ UHVW
DQG UHFODPS XQWLO WKH URWDWRU FDQ EH HDVLO\ WXUQHG
+ROG DGYDQFH DFWXDWRU DQG WXUQ FUDQN HYHQO\
LQ FORFNZLVH GLUHFWLRQ
8VXDOO\ LUUHJXODU PDWHULDO UHPRYHG LV DSSDUHQW KHUH
&KHFN GLPHQVLRQ ; DSSUR[ PP DW YDOYH LQVHUW
LQVHUW
(
*URXS &\OLQGHU +HDG
3DJH
7XUQ FUDQN HYHQO\ LQ FORFNZLVH GLUHFWLRQ ZKLOH VLPXO

WDQHRXVO\ KROGLQJ DGYDQFH DFWXDWRU
,Q HYHQW RI LQFUHDVLQJ WXUQLQJ UHVLVWDQFH EULHIO\ UH
OHDVH DGYDQFH DFWXDWRU
1RWH (QVXUH WKDW QRW WRR PXFK PDWHULDO LV UH
PRYHG 7KH URWDWLQJ WRRO PXVW WXUQ DV HDVLO\
DV EHIRUH WKLV LV DFKLHYHG E\ EULHIO\ UHOHDV
LQJ WKH DGYDQFH DFWXDWRU
0HDVXUH DQQXODU JURRYH GHSWK < LQ YDOYH VHDW LQ
VHUW
5HTXLUHG DQQXODU JURRYH GHSWK
IURP PP WR PP
5HPRYH URWDWRU DQG WDS SLORW
)LW LQWHUQDO H[WUDFWRU IRU LQOHW YDOYH VHDW LQVHUW RU

RXWOHW YDOYH VHDW LQVHUW LQ DQQXODU JURRYH DQG UH
PRYH YDOYH VHDW LQVHUW ZLWK FRXQWHU VXSSRUW
3ODFH FRSSHU VKHHW XQGHU PDWLQJ IDFHV RI FRXQWHU
VXSSRUWV DUURZV VR WKDW F\OLQGHU KHDG VXUIDFHV
FDQQRW EH GDPDJHG
&KHFNLQJ PDLQ ERUH IRU YDOYH VHDW LQVHUW LQ F\OLQ

GHU KHDG
0HDVXUH YDOYH VHDW LQVHUW ERUH GLDPHWHU % ZLWK
ERUH JDXJH
0HDVXUH ERUH GHSWK &
,I GLPHQVLRQV GHYLDWH IURP WHVW YDOXHV UHSODFH F\OLQ
GHU KHDG
&KHFN WKDW WKH DOLJQPHQW EHWZHHQ YDOYH VHDW LQVHUW
$ DQG PDLQ ERUH LV LQ FRPSOLDQFH ZLWK 7ROHUDQFH
(
&\OLQGHU +HDG *URXS
3DJH
,QVWDOOLQJ YDOYH VHDW LQVHUWV

+HDW F\OLQGHU KHDG WR DSSUR[ & LQ ZDWHU EDWK
&$87,21
&RPSRQHQW LV KRW
5LVN RI LQMXU\
WLYH JORYHV
&RRO YDOYH VHDW LQVHUWV LQ OLTXLG QLWURJHQ IRU DSSUR[
WR PLQ
&$87,21
8VLQJ D PDQGUHO SUHVV YDOYH VHDW LQVHUW RXWOHW YDOYH

DQGRU YDOYH VHDW LQVHUW LQOHW YDOYH LQWR FRUUH
VSRQGLQJ ERUH LQ F\OLQGHU KHDG
1RWH 7KH YDOYH VHDW LQVHUWV PXVW EH SUHVVILWWHG
ZLWKRXW GHOD\
0HDVXUH GLVWDQFH + EHWZHHQ F\OLQGHU KHDG SDUWL
WLRQ DQG YDOYH VHDW LQVHUW HQG IDFH
5HFRQGLWLRQ YDOYH VHDW LQVHUWV VHH VDPH *URXS
&KHFNLQJ F\OLQGHU KHDG IRU OHDNV

&DUHIXOO\ FOHDQ F\OLQGHU KHDG DIWHU PDFKLQLQJ
1RWH 7KH SURWHFWLYH VOHHYH PXVW EH LQVWDOOHG LQ RUGHU WR WHVW WKH FRRODQW FKDPEHUV IRU OHDNV
:$51,1*
&RPSUHVVHG DLU LV DLU ZKLFK KDV EHHQ FRPSUHVVHG XQGHU SUHVVXUH 5LVN RI LQMXU\ 7HVW SUHVVXUH PXVW QRW
EH H[FHHGHG $OZD\V ZHDU SURWHFWLYH FORWKLQJ SURWHFWLYH JORYHV DQG SURWHFWLYH JRJJOHVVDIHW\ PDVN
3UHVVXUHWHVW F\OLQGHU KHDG ZLWK DLU LQ ZDWHU EDWK IRU OHDNV

1RWH 7KH ZDWHU IRU SUHVVXUH WHVWLQJ PXVW EH WUHDWHG ZLWK DQWLFRUURVLYH DJHQW
&RRODQW FKDPEHU EDU DLU RYHUSUHVVXUH SHUPLVVLEOH OHDN UDWH FPPLQ
)XHO FKDPEHU EDU DLU RYHUSUHVVXUH SHUPLVVLEOH OHDN UDWH FPPLQ
$LU FKDPEHUV LQOHW DQG RXWOHW GXFWV DQG RLO FKDPEHUV DUH QRW LQVSHFWHG
(
*URXS &\OLQGHU +HDG
3DJH
& $VVHPEO\
,QVWDOOLQJ SURWHFWLYH VOHHYHV

&ODPS F\OLQGHU KHDG ILUPO\ LQ SRVLWLRQ
&KHFN VHDOLQJ IDFH IRU SURWHFWLYH VOHHYH DQG JURRYH
DUURZ IRU 2ULQJ FOHDQ LI QHFHVVDU\
&KHFN VHDOLQJ VXUIDFHV RQ SURWHFWLYH VOHHYH

FOHDQ LI QHFHVVDU\
&RDW WKH QHZ 2ULQJ ZLWK SHWUROHXP MHOO\ DQG LQ
VHUW LQWR JURRYH LQ F\OLQGHU KHDG
8VLQJ VRFNHW LQVHUW SURWHFWLYH VOHHYH LQWR F\OLQ
GHU KHDG DQG WLJKWHQ WR VSHFLILHG WLJKWHQLQJ WRUTXH
VHH &
1RWH 0DNH VXUH WKDW VRFNHW LV FRUUHFWO\ HQJDJHG
LQ VOHHYH JURRYH
,QVWDOOLQJ YDOYHV YDOYHV VKDIW JDVNHWV DQG YDOYH

VSULQJV
/D\ F\OLQGHU KHDG RQ LWV VLGH $
:LSH GRZQ H[KDXVW YDOYHV DQG LQOHW YDOYHV
ZLWK FKDPRLV OHDWKHU DQG FRDW YDOYH VKDIWV ZLWK HQ
JLQH RLO
,QVHUW YDOYHV LQ WKH FRUUHVSRQGLQJ YDOYH JXLGHV LQ
DFFRUGDQFH ZLWK PDUNLQJV PDGH SULRU WR UHPRYDO
(
&\OLQGHU +HDG *URXS
3DJH
)LW F\OLQGHU KHDG RQ F\OLQGHU KHDG LQWHUIDFH

)LW VOHHYH RYHU YDOYH VWHP
8VLQJ D PDQGUHO PDQXDOO\ SUHVV QHZ YDOYH VWHP
JDVNHW RYHU WKH VOHHYH RQWR WKH YDOYH JXLGH WR
WKH VWRS
&KHFN WKDW YDOYH VWHP JDVNHW LV ILWWHG VHFXUHO\ LQ
YDOYH JXLGH FROODU
5HPRYH VOHHYH
0RXQW YDOYH VSULQJ VHDW RQ HYHU\ YDOYH JXLGH

0RXQW YDOYH VSULQJ LQOHW DQG YDOYH VSULQJ
RXWOHW RQ YDOYH VSULQJ VHDW ZLWK WKH FRORXU PDUN
LQJ IDFLQJ XSZDUGV
3ODFH VSULQJ UHWDLQHU RQ YDOYH VSULQJ
,QVWDOO YDOYH FROOHW VHH QH[W LOOXVWUDWLRQ
&ODPS F\OLQGHU KHDG LQ MLJ

,QVHUW VWXG RI YDOYH OLIW LQWR WKUHDGHG ERUH LQ F\OLQ
GHU KHDG
&$87,21
6SULQJ SUHWHQVLRQ
5LVN RI LQMXU\
2QO\ XVH VSHFLILHG WRRO
3UHVV GRZQ YDOYH VSULQJ UHWDLQHU ZLWK YDOYH OLIW
DUURZ
,QVHUW YDOYH FROOHWV LQWR VSULQJ UHWDLQHUV DQG FHQWHU
0DNH VXUH WKDW OLS RI YDOYH FROOHWV LV VHFXUHO\ VHDWHG
LQ JURRYH DW HQG RI VWHP
5HOHDVH YDOYH VSULQJ
5HPRYH YDOYH OLIW
(
*URXS &\OLQGHU +HDG
3DJH
/D\ F\OLQGHU KHDG RQ LWV VLGH

8VLQJ D SODVWLF PDOOHW OLJKWO\ WDS WKH YDOYH VWHP VR
WKDW YDOYH FROOHWV DUH SRVLWLRQHG FRUUHFWO\ RQ WKH
YDOYH QHFN
0HDVXUH YDOYH FOHDUDQFH WR F\OLQGHU KHDG VHH
&
,I WKH UHFRUGHG YDOXH LV QRW ZLWKLQ WKH SHUPLWWHG WROHU
DQFHV VHH 7ROHUDQFH DQG :HDU /LPLWV /LVW UHPRYH
YDOYHV DQG FKHFN YDOYH VHDW LQVHUWV DQG YDOYH
KHDGV
& ,QVWDOODWLRQ
,QVWDOOLQJ F\OLQGHU KHDG

1RWH 3ULRU WR LQVWDOODWLRQ UHPRYH DOO EODQNLQJ SOXJV
DQG FKHFN WKDW RLO ERUHV DUH SHUIHFWO\ FOHDQ
:LSH F\OLQGHU KHDG DQG FUDQNFDVH LQWHUIDFH DQG
FKHFN
,QVHUW QHZ VSULQJ SLQV DUURZV LQWR FUDQNFDVH XQWLO
WKH\ FRQWDFW WKH VWRS
0RXQW QHZ F\OLQGHU KHDG JDVNHW YLD VSULQJ SLQV
RQ HQG IDFH RI FUDQNFDVH DV VKRZQ LQ LOOXVWUDWLRQ
/B /B
&$87,21
5LVN RI LQMXU\
WLYH JORYHV
0RXQW F\OLQGHU KHDG YLD VSULQJ SLQV RQ F\OLQGHU KHDG
JDVNHW
/B
(
&\OLQGHU +HDG *URXS
3DJH
0HDVXUH VKDIW OHQJWK / RI GRXEOHKH[ VFUHZV ZLWK

GHSWK JDXJH
)RU PD[ SHUPLVVLEOH VKDIW OHQJWK
VHH &
&RDW WKUHDGV DQG VFUHZ KHDG VHDWLQJ VXUIDFHV
DUURZV ZLWK HQJLQH RLO
1RWH 7R HQVXUH WKDW WKH F\OLQGHU KHDG UHPDLQV LQ

FRUUHFW SRVLWLRQ DOO SUHVFULEHG WLJKWHQLQJ
WRUTXH VWDJHV DQG WLJKWHQLQJ VHTXHQFHV LQ
DFFRUGDQFH ZLWK F\OLQGHU KHDG WLJKWHQLQJ GLD
JUDP VHH & PXVW EH REVHUYHG
7LJKWHQ GRXEOHKH[ VFUHZV IRU F\OLQGHU KHDG ZLWK
VRFNHW LQ VWDJHV WR VSHFLILHG SUHWLJKWHQLQJ WRUTXH
LQ SUHVFULEHG VHTXHQFH LQ DFFRUGDQFH ZLWK F\OLQGHU
KHDG WLJKWHQLQJ GLDJUDP
0DUN VFUHZ KHDGV
7LJKWHQ GRXEOHKH[ VFUHZV LQ VSHFLILHG VHTXHQFH WR
DQJOH RI URWDWLRQ LQ DFFRUGDQFH ZLWK WLJKWHQLQJ VSHF
LILFDWLRQV
,I WKH WLJKWHQLQJ WRUTXH RU DQJOH RI URWDWLRQ LV H[
FHHGHG IRU D F\OLQGHU KHDG VFUHZ UHPRYH DOO F\OLQ
GHU KHDG VFUHZV FKHFN VKDIW UHSODFH F\OLQGHU KHDG
/B VFUHZ LI QHFHVVDU\ DQG UHWLJKWHQ WR WLJKWHQLQJ VSHF
LILFDWLRQ
1RWH &\OLQGHU KHDG VFUHZV DUH QRW UHWLJKWHQHG
(
*URXS &\OLQGHU +HDG
3DJH

2SHUDWLRQV 6HH
[ ,QVWDOO HQJLQH %
[ [ ,QVWDOO JXLGH WXEH DQG RLO GLSVWLFN &
[ [ ,QVWDOO ILOOLQJ SLSH IRU HQJLQH RLO &
(
&\OLQGHU +HDG *URXS
3DJH

2SHUDWLRQV 6HH
[ ,QVWDOO HQJLQH %
(
*URXS &\OLQGHU +HDG
3DJH
(
9DOYH *HDU *URXS
3DJH
&RQWHQWV
& 9DOYH *HDU
& &DPVKDIW

& *HQHUDO YLHZ
& 6SHFLDO WRRO
& 5HPRYDO
& ,QVWDOODWLRQ
& 9DOYH UROOHU WDSSHWV SXVKURGV

& *HQHUDO YLHZ
& 6SHFLDO WRRO
& 5HPRYDO
& ,QVWDOODWLRQ
& 9DOYH GULYH

& *HQHUDO YLHZ
& 6SHFLDO WRRO
& 5HPRYDO
& 'LVDVVHPEO\
& $VVHPEO\
& ,QVWDOODWLRQ
& &\OLQGHU KHDG FRYHU

& *HQHUDO YLHZ
& 5HPRYDO
& ,QVWDOODWLRQ
(
*URXS 9DOYH *HDU
3DJH
& 9DOYH *HDU
&DPVKDIW JHDU 5RFNHU VKDIW VXSSRUW
&DPVKDIW 5RFNHU DUP LQOHW
5ROOHU WDSSHW $GMXVWLQJ VFUHZ
3XVK URG 1XW
$GMXVWLQJ VFUHZ 9DOYH EULGJH
1XW
(
9DOYH *HDU *URXS
3DJH
7KH IROORZLQJ LV DOLVW RI DX[LOLDU\ HTXLSPHQW DQG PDWHULDOV QHHGHG IRU WKH DVVHPEO\ RSHUDWLRQV
&$87,21

078 ''&
(PHU\ FORWK
0DJQLI\LQJ JODVV
6SUD\ JXQ
,QVSHFWLRQ ODPS
(QJLQH RLO
'HQDWXUDWHG HWKDQRO
'U\ FRPSUHVVHG DLU


SHQHWUDQW G\H
(
*URXS 9DOYH *HDU
3DJH
(
&DPVKDIW *URXS
3DJH
& &DPVKDIW

& *HQHUDO 9LHZ
&DPVKDIW DQG FDPVKDIW JHDU
'RZHO SLQV
& 6SHFLDO 7RRO
*XLGH PDQGUHO
,QVWDOODWLRQ GHYLFH
0HDVXULQJ XQLW 7'& SRVLWLRQ
%DUULQJ WRRO
(
*URXS &DPVKDIW
3DJH

2SHUDWLRQV 6HH
[ 5HPRYH HQJLQH %
[ [ 5HPRYDO QRW VFKHGXOHG
& 5HPRYDO
5HPRYLQJ FDPVKDIW
6FUHZ JXLGH PDQGUHO RQWR IDFH RI FDPVKDIW LQVWDOOHG
LQ FUDQNFDVH
/
7DNLQJ FDUH QRW WR GDPDJH EHDULQJ FDUHIXOO\ UHPRYH

FDPVKDIW IURP FUDQNFDVH XQWLO LQVWDOODWLRQ XQLW
VHH & FDQ EH LQVWDOOHG
$WWDFK LQVWDOODWLRQ XQLW WR IURQW VLGH RI FUDQNFDVH
:$51,1*
+HDY\ REMHFW
5LVN RI LQMXU\
$WWDFK URSH PLGZD\ DORQJ FDPVKDIW

7DNH XS VODFN DQG FRQWLQXH FDUHIXOO\ ZLWKGUDZLQJ
FDPVKDIW IURP FUDQNFDVH
5HPRYH JXLGH PDQGUHO DQG LQVWDOODWLRQ XQLW
(
&DPVKDIW *URXS
3DJH
&OHDQ FDPVKDIW
3UHSROLVK EHDULQJ MRXUQDOV DQG FDPV ZLWK HPHU\ FORWK
8VLQJ WKH PDJQHWLF FUDFNWHVWLQJ PHWKRG ZLWK IOXRUHVFHQW PDJQHWLF SRZGHU FKHFN FDPVKDIW IRU FUDFNV UHSODFH
FDPVKDIW LI QHFHVVDU\
&KHFN FDPVKDIW JHDU WRRWK IODQNV D[LDO VOLGLQJ VXUIDFH EHDULQJ UXQQLQJ VXUIDFHV DQG UROOHU UXQQLQJ WUDFN IRU VFRU
LQJ ZHDU DQG LQGHQWDWLRQV
5HPRYH PLQRU VFRULQJ ZHDU DQG LQGHQWDWLRQV E\ SROLVKLQJ ZLWK HPHU\ FORWK RU RLOVWRQH LI QHFHVVDU\ PDFKLQH WR
078 DQG RU ''& VSHFLILFDWLRQV RU UHSODFH FDPVKDIW
&KHFN FRQGLWLRQ RI GRZHO SLQV IRU VSHHG WUDQVPLWWHU LQ FDPVKDIW JHDU UHSODFH LI QHFHVVDU\
0HDVXUH SURMHFWLRQ RI GRZHO SLQV 6SHFLILHG SURMHFWLRQ IURP PP WR PP
&KHFNLQJ KDUGQHVV RI FDP DQG MRXUQDO

&KHFN KDUGQHVV RI FDP LQOHW DQG H[KDXVW YDOYHV
SOXJLQ SXPS DQG MRXUQDO RQ FDPVKDIW XVLQJ 0LFUR
GXU WHVWLQJ XQLW RU DQRWKHU VXLWDEOH KDUGQHVV WHVWLQJ
XQLW
7HVW KDUGQHVV RI HDFK MRXUQDO DW IRXU SRLQWV DW
LQWHUYDOV DURXQG FLUFXPIHUHQFH
,I OLPLW YDOXHV DUH QRW DFKLHYHG PDFKLQH FDPVKDIW WR
078 RU ''& VSHFLILFDWLRQV RU UHSODFH DV QHFHVVDU\
5HTXLUHG KDUGQHVV +5& p +5&
&KHFNLQJ FRQFHQWULFLW\ DQG FDP OLIW

6HW FDPVKDIW DW RXWHU MRXUQDOV RQ 9EORFNV RU
UROOHU VWDQGV
3ODFH VXSSRUWLQJ PRXQW DW FHQWUH MRXUQDO
0HDVXUH UDGLDO UXQRXW RI FDP EDVH FLUFOH DQG EHDU
LQJV ZLWK GLDO JDXJH
0HDVXUH FDP OLIW RYHU EDVH FLUFOH GLDPHWHU RI YDOYH
DQG SOXJLQ SXPS FDPV ZLWK GLDO JDXJH
,I OLPLW YDOXHV DUH QRW DFKLHYHG PDFKLQH FDPVKDIW WR
078 RU ''& VSHFLILFDWLRQV RU UHSODFH DV QHFHVVDU\
(
*URXS &DPVKDIW
3DJH
& ,QVWDOODWLRQ
,QVWDOOLQJ FDPVKDIW
1RWH 0DNH VXUH DOO FRPSRQHQWV DUH SHUIHFWO\
FOHDQ
$WWDFK LQVWDOODWLRQ XQLW WR IURQW VLGH RI FUDQNFDVH
DQG FHQWUH WR FDPVKDIW EHDULQJV ZLWK JXLGH PDQGUHO

6FUHZ JXLGH PDQGUHO RQWR IDFH RI FDPVKDIW

DUURZ
:$51,1*
+HDY\ REMHFW
5LVN RI LQMXU\
$WWDFK FDPVKDIW LQ FHQWUH ZLWK URSH DQG ZLSH

&RDW FDPVKDIW FDPVKDIW EHDULQJV LQVWDOODWLRQ XQLW
DQG JXLGH PDQGUHO ZLWK HQJLQH RLO
7DNLQJ FDUH QRW WR GDPDJH EHDULQJV VORZO\ LQWUR
GXFH FDPVKDIW LQWR FUDQNFDVH XS WR ODVW EHDULQJ
5HPRYH JXLGH PDQGUHO DQG LQVWDOODWLRQ XQLW
(
&DPVKDIW *URXS
3DJH
:KHQ LQVWDOOLQJ FDPVKDIW ZLWK FUDQNVKDIW LQVWDOOHG

HQVXUH WKDW PDUNLQJV DUURZV RQ FUDQNVKDIW JHDU
DQG FDPVKDIW JHDU DUH DOLJQHG
1RWH $[LDOO\ VHFXUH FDPVKDIW WR HQVXUH WKDW LW FDQ
QRW IDOO RXW XQWLO IO\ZKHHO KRXVLQJ LV LQVWDOOHG
0HDVXULQJ EDFNODVK
0HDVXUH EDFNODVK RI FDPVKDIW DIWHU FUDQNVKDIW KDV
EHHQ LQVWDOOHG 6HH &
0RXQW PDJQHWLF GLDO JDXJH KROGHU ZLWK GLDO JDXJH RQ
FUDQNFDVH
3RVLWLRQ GLDO JDXJH VW\OXV ZLWK ORZ SUHORDG RQ RQH
WRRWK IODQN RI FDPVKDIW JHDU
&KHFN EDFNODVK E\ PRYLQJ FDPVKDIW JHDU EDFN DQG
IRUWK
)RU EDFNODVK VHH &
0HDVXULQJ FDPVKDIW D[LDO SOD\

0HDVXUH FDPVKDIW D[LDO SOD\ DIWHU IO\ZKHHO KRXVLQJ
KDV EHHQ LQVWDOOHG VHH &
0RXQW PDJQHWLF GLDO JDXJH KROGHU ZLWK GLDO JDXJH RQ
FUDQNFDVH IUHH HQG
3RVLWLRQ GLDO JDXJH VW\OXV DJDLQVW IURQW HQG RI FDP
VKDIW DUURZ
3UHVV FDPVKDIW RQ FDPVKDIW JHDU D[LDOO\ DV IDU DV LW
ZLOO JR
6HW GLDO JDXJH WR ]HUR ZLWK SUHORDG
0RYH FDPVKDIW IURP VWRS WR VWRS DQG UHFRUG
PHDVXUHG YDOXH D[LDO FOHDUDQFH
)RU D[LDO FOHDUDQFH VHH &
(
*URXS &DPVKDIW
3DJH
&KHFNLQJ FDPVKDIW WLPLQJ

1RWH &KHFN LQMHFWLRQ WLPLQJ ZLWK F\OLQGHU KHDG DQG
YDOYH GULYH LQ SRVLWLRQ
)L[ 7'& SRVLWLRQ RI SLVWRQ LQ WKH IROORZLQJ ZD\
,QVWDOO PHDVXULQJ XQLW ZLWK GLDO JDXJH LQWR F\O
LQGHU KHDG $
0RXQW D VXLWDEOH 7'& LQGLFDWRU WR WKH IO\ZKHHO KRXV
LQJ RU RQ WKH FUDQNFDVH IUHH HQG LQ RUGHU WR VWDPS
WKH 7'& PDUN RQ IO\ZKHHO RU YLEUDWLRQ GDPSHU
8VLQJ WKH EDUULQJ WRRO EDU WKH HQJLQH XQWLO WKH SLVWRQ
RI F\OLQGHU $ LV DW WKH ILULQJ 7'&
1RWH ,I ERWK URFNHU DUPV DUH UHOLHYHG LH KDYH
FOHDUDQFH WKH SLVWRQ LV DW ILULQJ 7'&
0RYH SLVWRQ VHYHUDO WLPHV XS DQG GRZQ WKURXJK
7'& XQWLO QHHGOH RI GLDO JDXJH UHJLVWHUV LWV KLJKHVW
UHDGLQJ
%DFN RII FUDQNVKDIW DSSUR[ DJDLQVW GLUHFWLRQ RI
URWDWLRQ
0RYH WKH FUDQNVKDIW LQ GLUHFWLRQ RI URWDWLRQ WR
PP GLDO JDXJH UHDGLQJ EHIRUH 7'& DQG SODFH D
SUHFLVH PDUNLQJ HJ ZLWK VFULEHU RQ IO\ZKHHO RU
YLEUDWLRQ GDPSHU RSSRVLWH WKH WLS RI WKH 7'& LQGLFD
WRU
%DU FUDQNVKDIW LQ GLUHFWLRQ RI URWDWLRQ SDVW 7'& WR
DSSUR[ WR WDNH XS EHDULQJ SOD\
%DU FUDQNVKDIW LQ GLUHFWLRQ RSSRVLWH WR QRUPDO GLUHF
WLRQ RI URWDWLRQ WR DIWHU 7'& DQG PDNH D VHFRQG
PDUN
1RWH 7R HOLPLQDWH EHDULQJ FOHDUDQFH WKH SLVWRQ
PXVW DOZD\V PRYH LQ GLUHFWLRQ RI 7'&
0DNH WKH WKLUG DOLJQPHQW PDUN H[DFWO\ LQ WKH PLGGOH
RI WKH RWKHU WZR PDUNV 7KLV LV WKH 7'& SRVLWLRQ RI
WKH SLVWRQ
5HPRYH PHDVXULQJ GHYLFH ZLWK GLDO JDXJH
(
&DPVKDIW *URXS
3DJH
0HDVXUH YDOYH VWURNH DV IROORZV

5HOHDVH ORFNQXWV DUURZV DQG LQVHUW DGMXVWLQJ
VFUHZV XQWLO WKHUH LV QR PRUH SOD\ DQG WKHQ VOLJKWO\
WLJKWHQ ORFNQXWV
1RWH (QVXUH WKHUH LV QR YDOYH SOD\ LQ RUGHU WR RE
WDLQ YDOLG PHDVXUHPHQWV
0RXQW PDJQHWLFEDVH LQGLFDWRU KROGHU ZLWK GLDO
JDXJH RQ F\OLQGHU $
3RVLWLRQ GLDO JDXJH VW\OXV ZLWK ORZ SUHORDG RQ YDOYH
EULGJH RI LQOHW YDOYH DQG VHW VFDOH WR ]HUR
WLRQ DQG DOLJQ H[DFWO\ ZLWK WKH RYHUODS 7'& LQ
DFFRUGDQFH ZLWK H[LVWLQJ DOLJQPHQW PDUNV
5HDG YDOYH VWURNH IURP GLDO JDXJH DQG UHFRUG UHDG
LQJV LQ 'DWD 6KHHW
3RVLWLRQ GLDO JDXJH VW\OXV RQ YDOYH EULGJH RI H[KDXVW
YDOYH DQG VHW VFDOH WR ]HUR
)XUWKHU URWDWH FUDQNVKDIW VORZO\ LQ HQJLQH GLUHFWLRQ RI
URWDWLRQ XQWLO SRLQWHU RI GLDO JDXJH QR ORQJHU PRYHV
5HDG YDOYH VWURNH IURP GLDO JDXJH DQG UHFRUG UHDG
LQJV LQ 'DWD 6KHHW
)RU VSHFLILHG YDOXHV VHH $
&KHFN FDPVKDIW LI WROHUDQFH GHYLDWLRQ LV DERYH SHU
PLWWHG OHYHO
5HPRYH PDJQHWLFEDVH LQGLFDWRU KROGHU ZLWK GLDO
JDXJH DQG 7'& LQGLFDWRU
6HW YDOYH FOHDUDQFH RQ F\OLQGHU $
VHH &

2SHUDWLRQV 6HH
[ ,QVWDOO HQJLQH %
(
*URXS &DPVKDIW
3DJH
(
9DOYH 5ROOHU 7DSSHWV 3XVKURGV *URXS
3DJH
& 9DOYH 5ROOHU 7DSSHWV 3XVKURGV

& *HQHUDO 9LHZ
5ROOHU WDSSHW
3XVK URG
& 6SHFLDO 7RRO
*ULSSHU SOLHUV IRU UROOHU WDSSHW
(
*URXS 9DOYH 5ROOHU 7DSSHWV 3XVKURGV
3DJH

2SHUDWLRQV 6HH
[ 5HPRYH HQJLQH %

[ 'UDLQ FKDUJH DLU FRRODQW LI QHFHVVDU\ 2SHUDWLQJ ,QVWUXFWLRQV
[ [ 5HPRYH FKDUJH DLU FRRODQW SLSH LI QHFHVVDU\ &
[ [ 5HPRYH FUDQNFDVH YHQWLODWLRQ LI QHFHVVDU\ &
[ [ 5HPRYH HQJLQH OLIWLQJ DWWDFKPHQW &
[ [ 5HPRYH JXLGH WXEH DQG RLO GLSVWLFN DV UHTXLUHG &
[ [ 5HPRYH ILOOLQJ SLSH IRU HQJLQH RLO LI QHFHVVDU\ &
[ [ 5HPRYH F\OLQGHU KHDG &
RQO\ ZKHQ UHPRYLQJ YDOYH UROOHU WDSSHWV
& 5HPRYDO
5HPRYLQJ SXVKURGV
5HPRYH SXVKURGV IURP UROOHU WDSSHW
:KHQ ZLWKGUDZLQJ WKH SXVKURGV URWDWH WKHP VR WKDW
WKH\ DUH UHOHDVHG IURP WKH UROOHU WDSSHW DQG WKH UROOHU
WDSSHW LV QRW SXOOHG RXW RI WKH FUDQNFDVH
(
9DOYH 5ROOHU 7DSSHWV 3XVKURGV *URXS
3DJH
5HPRYH UROOHU WDSSHWV

)RU LQVWUXFWLRQV RQ UHPRYLQJ F\OLQGHU KHDG
VHH &
8VLQJ JULSSLQJ SOLHUV UHPRYH UROOHU WDSSHWV IURP
FUDQNFDVH
0DUN UROOHU WDSSHWV LQ UHODWLRQ WR FUDQNFDVH

8VLQJ WKH PDJQHWLF FUDFNWHVWLQJ PHWKRG ZLWK IOXRUHVFHQW SRZGHU FKHFN UROOHU WDSSHWV DQG SXVKURGV IRU FUDFNV
UHSODFH FRPSRQHQWV LI FUDFNV DUH GHWHFWHG
&KHFN UROOHU WDSSHWV IRU GDPDJH DQG ZHDU
,I WKHUH LV H[FHVV ZHDU RU GDPDJH UHSODFH UROOHU WDSSHW
&KHFN UROOHU WDSSHW IRU HDVHRIPRYHPHQW DQG H[FHVVLYH SOD\
5HSODFH UROOHU WDSSHWV LI SOD\ LV WRR JUHDW RU WDSSHW LV VOXJJLVK
0HDVXUH RXWVLGH GLDPHWHU RI UROOHU WDSSHW ZLWK PLFURPHWHU
,I PHDVXUHPHQWV DUH EHORZ OLPLW YDOXH UHSODFH UROOHU WDSSHW
&KHFN SXVKURG VHDW DQG EDOO VRFNHW RI SXVKURG IRU ZHDU UHSODFH SXVKURG LI QHFHVVDU\
&KHFN FRQFHQWULFLW\ RI SXVKURG UHSODFH SXVKURG LI QHFHVVDU\
& ,QVWDOODWLRQ

1RWH 0DNH VXUH DOO FRPSRQHQWV DUH SHUIHFWO\ FOHDQ
,QVWDOOLQJ UROOHU WDSSHWV

&RDW UROOHU WDSSHW DQG ERUH LQ FUDQNFDVH ZLWK HQJLQH
RLO
2EVHUYH WKH UROOHU WDSSSHW PDUNLQJ LQVWDOODWLRQ
SRLQW
8VLQJ SOLHUV LQVHUW WDSSHW LQWR JXLGH ERUH LQ FUDQN
FDVH PDNLQJ VXUH WKDW VORW LV FRUUHFWO\ SRVLWLRQHG
1RWH 'R QRW GURS UROOHU WDSSHW RQWR FDPVKDIW
&KHFN WKDW UROOHU WDSSHW PRYHV IUHHO\ LQ JXLGH ERUH
(
*URXS 9DOYH 5ROOHU 7DSSHWV 3XVKURGV
3DJH
,QVWDOOLQJ SXVKURGV
)RU LQVWUXFWLRQV RQ LQVWDOOLQJ F\OLQGHU KHDG
VHH &
&RDW SXVKURG VHDWV DQG EDOO VRFNHWV RI SXVKURGV
ZLWK HQJLQH RLO
,QVHUW WKH SXVKURG ZLWK WKH EDOOKHDG VLGH WKURXJK
WKH F\OLQGHU KHDG LQWR WKH UROOHU WDSSHW PDNLQJ VXUH
WKDW LW VLWV VHFXUHO\ LQ WKH UROOHU WDSSHW

2SHUDWLRQV 6HH

[ ,QVWDOO HQJLQH %
(
9DOYH 'ULYH *URXS
3DJH
& 9DOYH 'ULYH

& *HQHUDO 9LHZ
5RFNHU VKDIW VXSSRUW
9DOYH EULGJH
6SULQJ JXLGH
&RPSUHVVLRQ VSULQJ
+H[ VFUHZ
0D[ VKDIW OHQJWK PP
3UHWLJKWHQLQJ WRUTXH 1P
(
*URXS 9DOYH 'ULYH
3DJH
5RFNHU VKDIW VXSSRUW
5RFNHU VKDIW VXSSRUW :DVKHU
5RFNHU DUP H[KDXVW &LUFOLS
5RFNHU DUP LQOHW +H[ VFUHZ

0D[ VKDIW OHQJWK PP
$GMXVWLQJ VFUHZ
1XW 3UHWLJKWHQLQJ WRUTXH 1P
/XEULFDQW (QJLQH RLO $GGLWLRQDO DQJOH RI URWDWLRQ
(
9DOYH 'ULYH *URXS
3DJH
9DOYH EULGJH
9DOYH EULGJH
$GMXVWLQJ VFUHZ
1XW
& 6SHFLDO 7RRO
*DXJH PP PP IRU VHWWLQJ YDOYH FOHDUDQFH

6FUHZGULYHU VKRUW IRU VHWWLQJ YDOYH FOHDUDQFH
%DUULQJ WRRO
0HDVXULQJ XQLW 7'& SRVLWLRQ
(
*URXS 9DOYH 'ULYH
3DJH

2SHUDWLRQV 6HH
[ 5HPRYH HQJLQH %
& 5HPRYDO
5HPRYLQJ URFNHU DUP DVVHPEO\

5HPRYH KH[ VFUHZV DQG UHPRYH URFNHU VKDIW VXS
SRUW IURP F\OLQGHU KHDG
0DUN YDOYH EULGJHV LQ UHODWLRQ WR YDOYHV

5HPRYH YDOYH EULGJHV FRPSUHVVLRQ VSULQJV DQG
VSULQJ JXLGHV IURP SLQV LQ F\OLQGHU KHDG
(
9DOYH 'ULYH *URXS
3DJH
& 'LVDVVHPEO\

'LVDVVHPEOLQJ URFNHU DUP DVVHPEO\
&ODPS URFNHU VKDIW VXSSRUW LQ YLFH ZLWK DOXPLQLXP
MDZV
5HOHDVH QXWV RI DGMXVWLQJ VFUHZV
&$87,21
5LVN RI LQMXU\
8VLQJ VQDS ULQJ SOLHUV UHPRYH VQDS ULQJ IURP
VKDIW
5HPRYH ZDVKHU
5HPRYH URFNHU DUP IURP D[OH

5HPRYH QXW DQG DGMXVWLQJ VFUHZ
&ODPS YDOYH EULGJH LQ YLFH ZLWK DOXPLQLXP MDZV

5HOHDVH QXW DQG UHPRYH DGMXVWLQJ VFUHZ
(
*URXS 9DOYH 'ULYH
3DJH

8VLQJ WKH PDJQHWLF FUDFNWHVWLQJ PHWKRG ZLWK IOXRUHVFHQW PDJQHWLF SRZGHU FKHFN URFNHU VKDIW VXSSRUW DQG D[OHV
URFNHU DUPV DQG YDOYH EULGJHV IRU FUDFNV
5HSODFH FUDFNHG FRPSRQHQWV
&KHFN UXQQLQJ VXUIDFHV RI D[OHV YDOYH EULGJHV DQG URFNHU DUPV IRU ZHDU LQGHQWDWLRQV DQG VFRULQJ
5HPRYH VFRULQJ DQG LQGHQWDWLRQV E\ SROLVKLQJ ZLWK HPHU\ FORWK UHSODFH FRPSRQHQWV DV QHFHVVDU\
&KHFN VQDS ULQJV DQG ZDVKHUV IRU GDPDJH DQG ZHDU UHSODFH FRPSRQHQWV DV QHFHVVDU\
&KHFN FRQGLWLRQ RI PDWLQJ IDFHV RQ URFNHU VKDIW VXSSRUW EXUQLVK ZLWK RLOVWRQH LI QHFHVVDU\
&KHFN FRQGLWLRQ RI D[OH VQDS ULQJ JURRYHV UHSODFH URFNHU VKDIW VXSSRUW DV QHFHVVDU\
&KHFN WDSHUV DQG VORW RI DGMXVWLQJ VFUHZV IRU ZHDU DQG GDPDJH UHSODFH FRPSRQHQW LI QHFHVVDU\
&KHFN KHDGV DQG VHDWLQJ IDFHV RI QXWV IRU GDPDJH UHSODFH DGMXVWLQJ VFUHZ DV QHFHVVDU\
&KHFN WKUHDGV RI QXWV DQG DGMXVWLQJ VFUHZV IRU HDVH RI PRYHPHQW UHSODFH FRPSRQHQW DV QHFHVVDU\
&KHFN WKUHDGHG ERUHV LQ URFNHU DUPV DQG YDOYH EULGJHV IRU HDVH RI PRYHPHQW UHPDFKLQH LI QHFHVVDU\
0HDVXUH UHJLVWHU ERUHV LQ YDOYH EULGJHV ZLWK ERUH JDXJH
&KHFN JXLGH SLQV LQ F\OLQGHU KHDG IRU ZHDU DQG SURWUXVLRQ $ VHH &
5HSODFH VQDS ULQJV GXULQJ : RYHUKDXO
0DNH VXUH WKDW DOO FRPSRQHQWV DUH SHUIHFWO\ FOHDQ DQG WKDW IORZ WKURXJK OXEH RLO ERUHV LV XQREVWUXFWHG
0HDVXULQJ GLDPHWHU RI EXVK ERUH LQ URFNHU DUP

$GMXVW ERUH JDXJH WR EDVLF VL]H RI EXVK ERUH DQG
PHDVXUH GLDPHWHU RI ERUH
,I OLPLW YDOXHV DUH H[FHHGHG UHSODFH URFNHU DUP
(
9DOYH 'ULYH *URXS
3DJH
0HDVXULQJ GLDPHWHU RI EHDULQJ SHGHVWDO D[OHV

8VLQJ PLFURPHWHU PHDVXUH RXWVLGH GLDPHWHUV RI
EHDULQJV
,I PHDVXUHPHQWV DUH EHORZ OLPLW YDOXHV UHSODFH
URFNHU VKDIW VXSSRUW
&KHFNLQJ KH[ EROWV IRU URFNHU VKDIW VXSSRUW

0HDVXUH VKDIW OHQJWK RI KH[ EROW IRU PD[ VKDIW
OHQJWK VHH &
&KHFN WKDW WKUHDG DQG VFUHZ KHDG PDWLQJ IDFH
DUURZV DUH LQ SHUIHFW FRQGLWLRQ UHSODFH VFUHZ LI
QHFHVVDU\
&KHFN KH[DJRQ IRU GDPDJH UHSODFH VFUHZ LI
QHFHVVDU\
(
*URXS 9DOYH 'ULYH
3DJH
& $VVHPEO\
$VVHPEOLQJ URFNHU DUP DVVHPEO\

,QVHUW DGMXVWLQJ VFUHZ LQWR URFNHU DUP
$WWDFK QXW WR DGMXVWLQJ VFUHZ GR QRW WLJKWHQ
&RDW D[OHV RQ URFNHU VKDIW VXSSRUW DQG EXVKHV RI
URFNHU DUP ZLWK HQJLQH RLO
&ODPS URFNHU VKDIW VXSSRUW LQ YLFH ZLWK DOXPLQLXP
MDZV
)LW URFNHU DUP RQ D[OH
&$87,21
5LVN RI LQMXU\
)LW ZDVKHU DQG VHFXUH ZLWK VQDS ULQJ

0DNH VXUH WKDW VQDS ULQJ LV FRUUHFWO\ VHDWHG
&KHFN PLQLPXP D[LDO FOHDUDQFH RI URFNHU DUP
,QVWDOO VHFRQG URFNHU DUP VLPLODUO\
,QVHUW DGMXVWLQJ VFUHZ LQWR YDOYH EULGJH

$WWDFK QXW WR DGMXVWLQJ VFUHZ GR QRW WLJKWHQ
(
9DOYH 'ULYH *URXS
3DJH
& ,QVWDOODWLRQ
$GMXVWLQJ DQG LQVWDOOLQJ YDOYH EULGJHV

1RWH 0DNH VXUH SDUWV DUH SHUIHFWO\ FOHDQ 3HUIRUP
VHWWLQJ RQO\ ZLWK HQJLQH HLWKHU FROG RU DW RS
HUDWLQJ WHPSHUDWXUH $OORZ DW OHDVW PLQ
XWHV DIWHU HQJLQH VKXWGRZQ EHIRUH VWDUWLQJ
0HDVXUH SURWUXVLRQ RI JXLGH SLQV LQ F\OLQGHU KHDG
VHH &
$ &RDW UHJLVWHU ERUH RI YDOYH EULGJH ZLWK HQJLQH RLO
%
1RWH ,I WKH YDOYH VHDW LQVHUWV LQ F\OLQGHU KHDG RU
YDOYHV KDYH EHHQ PDFKLQHG WKH YDOYH
EULGJHV PXVW EH DGMXVWHG
&ODPS YDOYH EULGJHV LQ YLFH ZLWK DOXPLQLXP MDZV
UHOHDVH ORFNQXW DQG EDFN RII DGMXVWLQJ VFUHZ
E\ DSSUR[ WXUQV
)LW YDOYH EULGJH RQ SLQ LQ F\OLQGHU KHDG LQ DFFRUG
) D DQFH ZLWK WKH PDUNLQJV LQVWDOODWLRQ ORFDWLRQ
$GMXVWLQJ VFUHZV SRLQW WR H[KDXVW SLSH
1RWH )RU H[DFW DGMXVWPHQW YDOYH EULGJHV DUH ILUVW
LQVWDOOHG ZLWKRXW FRPSUHVVLRQ VSULQJV
3UHVV YDOYH EULGJH GRZQZDUGV DQG KROG
9DOYH EULGJH PXVW PDNH FRQWDFW ZLWK YDOYH VWHP $
EDFN RII DGMXVWLQJ VFUHZ LI QHFHVVDU\
0DQXDOO\ LQVHUW DGMXVWLQJ VFUHZ ZLWK YDOYH EULGJH
SUHVVHG XQWLO DGMXVWLQJ VFUHZ MXVW FRQWDFWV YDOYH
VWHP % YDOYH EULGJH PXVW QRW PRYH XSZDUGV
7LJKWHQ ORFNQXW E\ KDQG
$WWHQWLRQ 9DOYH EULGJHV DUH VHW DQG PXVW QRW EH
LQWHUFKDQJHG GXULQJ LQVWDOODWLRQ
5HPRYH YDOYH EULGJHV IURP F\OLQGHU KHDG
&ODPS YDOYH EULGJHV LQ WKH YLFH DQG WLJKWHQ ORFNQXW
WR VSHFLILHG WLJKWHQLQJ WRUTXH VHH &
,QVWDOO VSULQJ JXLGHV DQG FRPSUHVVLRQ VSULQJV RQ
SLQV LQ F\OLQGHU KHDG
1RWH (QVXUH FRUUHFW SRVLWLRQ RI VSULQJ JXLGH
VHH RYHUYLHZ GUDZLQJ &
)LW YDOYH EULGJHV RQ SLQV LQ F\OLQGHU KHDG LQ DFFRUG
DQFH ZLWK WKH PDUNLQJV LQVWDOODWLRQ ORFDWLRQ
(
*URXS 9DOYH 'ULYH
3DJH
,QVWDOOLQJ URFNHU DUP DVVHPEO\

8VLQJ WKH EDUULQJ WRRO VHW SLVWRQ RI F\OLQGHU WR EH
FKHFNHG WR ILULQJ 7'&
1RWH ,Q ILULQJ 7'& ERWK UROOHU WDSSHWV RI WKH F\OLQ
GHU WR EH FKHFNHG DUH LQ WKH FDPVKDIW EDVLF
FLUFOH
&RDW SXVKURG VHDWV RI SXVK URGV ZLWK HQJLQH RLO
0HDVXUH VKDIW OHQJWK RI KH[ VFUHZ IRU PD[ VKDIW

OHQJWK VHH &
&RDW WKUHDG DQG PDWLQJ IDFH DUURZV RI KH[ VFUHZV
ZLWK HQJLQH RLO
5HOHDVH QXWV RI DGMXVWLQJ VFUHZV RQ URFNHU VKDIW

VXSSRUW DQG EDFN RII DGMXVWLQJ VFUHZV
)LW URFNHU VKDIW VXSSRUW RQ F\OLQGHU KHDG DQG FKHFN
SRVLWLRQ RI WDSHUV LQ SXVK URGV
,QVHUW KH[ VFUHZV LQWR F\OLQGHU KHDG DQG WLJKWHQ WR
3URFHHGLQJ LQ HQJLQH ILULQJ VHTXHQFH VHW RWKHU SLV
WRQV WR ILULQJ 7'& DQG LQVWDOO DOO URFNHU DUP EHDULQJ
SHGHVWDOV LQ VDPH PDQQHU
6HW YDOYH FOHDUDQFH VHH IROORZLQJ 6HFWLRQ
(
9DOYH 'ULYH *URXS
3DJH
$GMXVWLQJ YDOYH FOHDUDQFH ZLWK WZR FUDQNVKDIW

SRVLWLRQV
,QVWDOO PHDVXULQJ XQLW ZLWK GLDO JDXJH LQWR F\O
LQGHU KHDG $
8VLQJ WKH EDUULQJ WRRO WXUQ WKH HQJLQH XQWLO SLVWRQ $
LV SUHFLVHO\ DW 7'& SRLQWHU RQ GLDO JDXJH LQGLFDWHV
WKH KLJKHVW YDOXH
,I URFNHU DUPV RQ F\OLQGHU $ DUH XQORDGHG WKH SLV
WRQ LV LQ ILULQJ 7'&
,I URFNHU DUPV RQ F\OLQGHU $ DUH ORDGHG WKH SLVWRQ
LV LQ RYHUODS 7'&
6HW YDOYH FOHDUDQFHV DW LQLWLDO 7'& FUDQNVKDIW SRVL
WLRQ LQ DFFRUGDQFH ZLWK IROORZLQJ YDOYH FOHDUDQFH
VHWWLQJ GLDJUDPV
5RWDWH FUDQNVKDIW D IXUWKHU WR VHFRQG 7'&
FUDQNVKDIW SRVLWLRQ DQG VHW UHPDLQLQJ YDOYH FOHDU
DQFHV LQ DFFRUGDQFH ZLWK YDOYH FOHDUDQFH VHWWLQJ
GLDJUDP
9DOYH FOHDUDQFH VHWWLQJ GLDJUDP 9

, )LULQJ 7'& DW F\OLQGHU $
,, 2YHUODS 7'& DW F\OLQGHU $
$ ([KDXVW YDOYH
( ,QOHW YDOYH
3URFHGXUH IRU VHWWLQJ VHH IROORZLQJ LOOXVWUDWLRQV
9DOYH FOHDUDQFH VHWWLQJ GLDJUDP 9

)LULQJ 7'& DW F\OLQGHU $
2YHUODS 7'& DW F\OLQGHU $
; ([KDXVW YDOYH
, ,QOHW YDOYH
3URFHGXUH IRU VHWWLQJ VHH QH[W LOOXVWUDWLRQ
(
*URXS 9DOYH 'ULYH
3DJH
5HOHDVH ORFNQXW DQG VOLJKWO\ XQVFUHZ DGMXVWLQJ

VFUHZ
,QVHUW IHHOHU JDXJH EHWZHHQ YDOYH EULGJH DQG URFNHU
DUP
)RU VSHFLILHG YDOYH FOHDUDQFH VHH $
6HW DGMXVWLQJ VFUHZ VR WKDW WKH IHHOHU JDXJH FDQ MXVW
EH SXOOHG WKURXJK ZKHQ ORFNQXW LV WLJKWHQHG
7LJKWHQ ORFNQXW WR VSHFLILHG WLJKWHQLQJ WRUTXH
VHH & ZKHQ GRLQJ WKLV KROG DGMXVWLQJ
VFUHZ LQ SRVLWLRQ ZLWK D VFUHZGULYHU
5HFKHFN YDOYH FOHDUDQFH DIWHU ORFNLQJ QXW
1RWH 5HPRYH EDUULQJ WRRO EHIRUH VWDUWLQJ HQJLQH

2SHUDWLRQV 6HH
[ ,QVWDOO HQJLQH %
(
&\OLQGHU +HDG &RYHU *URXS
3DJH
& &\OLQGHU +HDG &RYHU

& *HQHUDO 9LHZ
&\OLQGHU KHDG FRYHU DUUDQJHPHQW 9
&\OLQGHU KHDG FRYHU %UDFNHW
&\OLQGHU KHDG FRYHU ZLWK RLO VHSDUDWRU (OHPHQW
*DVNHW %UDFNHW
6HDOLQJ ZDVKHU *DVNHW
&ROODU VFUHZ (QG FRYHU

7HUPLQDO
(
*URXS &\OLQGHU +HDG &RYHU
3DJH
&\OLQGHU KHDG FRYHU DUUDQJHPHQW 9
&\OLQGHU KHDG FRYHU %UDFNHW
&\OLQGHU KHDG FRYHU ZLWK RLO VHSDUDWRU (OHPHQW
*DVNHW %UDFNHW
6HDOLQJ ZDVKHU *DVNHW
&ROODU VFUHZ (QG FRYHU

7HUPLQDO

2SHUDWLRQV 6HH
[ 5HPRYH HQJLQH %
[ [ 5HPRYH LQWDNH KRVH IURP RLO VHSDUDWRU LI QHFHVVDU\
(
&\OLQGHU +HDG &RYHU *URXS
3DJH
& 5HPRYDO
5HPRYLQJ F\OLQGHU KHDG FRYHU

5HPRYH ERWK FROODU VFUHZV
5HPRYH F\OLQGHU KHDG FRYHU DQG JDVNHW
5HPRYH RLO VHSDUDWRU VHH &

&KHFN DQG UHSDLU RLO VHSDUDWRU VHH &
&$87,21
&OHDQ F\OLQGHU KHDG FRYHU ZLWK FOHDQHU EORZ RXW ZLWK FRPSUHVVHG DLU DQG PDNH VXUH LW LV SHUIHFWO\ FOHDQ
0DNH YLVLEOH LQVSHFWLRQ RI F\OLQGHU KHDG FRYHU IRU ZHDU DQG GDPDJH SD\LQJ SDUWLFXODU DWWHQWLRQ WR WKH PDWLQJ DQG
VHDOLQJ VXUIDFHV UXE GRZQ ZLWK HPHU\ FORWK RU DQ RLOVWRQH RU UHSODFH F\OLQGHU KHDG FRYHU DV QHFHVVDU\
&OHDQ FROODU VFUHZV DQG FKHFN IRU ZHDU DQG GDPDJH UHSODFH LI QHFHVVDU\
&KHFN WKUHDG RI FROODU VFUHZV IRU HDVH RI PRYHPHQW UHSODFH FROODU VFUHZ LI QHFHVVDU\
5HSODFH JDVNHWV DQG VHDOLQJ ZDVKHUV GXULQJ : RYHUKDXO
(
*URXS &\OLQGHU +HDG &RYHU
3DJH
& ,QVWDOODWLRQ
,QVWDOOLQJ F\OLQGHU KHDG FRYHU

&KHFN PRXQWLQJ VXUIDFH FOHDQ LI QHFHVVDU\
,QVHUW JDVNHW LQWR F\OLQGHU KHDG FRYHU
,QVWDOO F\OLQGHU KHDG FRYHU LQ DFFRUGDQFH ZLWK DU
UDQJHPHQW GUDZLQJ RQ F\OLQGHU KHDG
VHH &
7LJKWHQ VFUHZV ZLWK QHZ VHDOLQJ ZDVKHUV WR VSHFL
ILHG WRUTXH
,QVWDOO RLO VHSDUDWRU VHH &

2SHUDWLRQV 6HH
[ ,QVWDOO HQJLQH %
[ [ )LW LQWDNH KRVH WR RLO VHSDUDWRU
[ [ ,QVWDOO DLU SLSHZRUN EHIRUH H[KDXVW WXUERFKDUJHU
(
)XHO 6\VWHP +LJK3UHVVXUH *URXS
3DJH
&RQWHQWV
& )XHO 6\VWHP +LJK3UHVVXUH
& )XHO LQMHFWLRQ SXPS

& *HQHUDO YLHZ
& 6SHFLDO WRRO
& 5HPRYDO
& 'LVDVVHPEO\
& ,QVWDOODWLRQ
& )XHO LQMHFWRU DQG +3 IXHO OLQH

& *HQHUDO YLHZ
& 6SHFLDO WRRO
& 5HPRYDO
& 'LVDVVHPEO\
& ,QVWDOODWLRQ
(
*URXS )XHO 6\VWHP +LJK3UHVVXUH
3DJH
& )XHO 6\VWHP +LJK3UHVVXUH
3OXJLQ SXPS
+3 OLQH
,QMHFWRU
&ODPSLQJ HOHPHQW
(
)XHO 6\VWHP +LJK3UHVVXUH *URXS
3DJH
&$87,21

078 ''&
%RWWOH EUXVK
0DJQLI\LQJ JODVV
(QJLQH RLO
(QJLQHHU·V EOXH %OXH
'U\ FRPSUHVVHG DLU

(
*URXS )XHO 6\VWHP +LJK3UHVVXUH
3DJH
(
)XHO ,QMHFWLRQ 3XPS *URXS
3DJH
& )XHO ,QMHFWLRQ 3XPS

& *HQHUDO 9LHZ
3OXJLQ SXPS
'RXEOHKH[ VFUHZ
2ULQJ
2ULQJ
& 6SHFLDO 7RRO
6RFNHW IRU GRXEOHKH[ VFUHZ

%DUULQJ WRRO
(
*URXS )XHO ,QMHFWLRQ 3XPS
3DJH

2SHUDWLRQV 6HH
[ 5HPRYH HQJLQH %
[ [ 5HPRYLQJ FKDUJH DLU PDQLIROG &
[ [ 5HPRYH +3 OLQH &
[ [ 5HOHDVH VFUHZV IRU SOXJLQ FOLSV RQ VROHQRLG YDOYH DQG VHSDUDWH
SOXJLQ FOLSV
& 5HPRYDO

5HPRYH IXHO LQMHFWLRQ SXPS
:$51,1*
)XHOV DQG IXHO PLVWV DUH IODPPDEOH DQG SRLVRQ
RXV 5LVN RI ILUH H[SORVLRQV DQG SRLVRQLQJ :KHQ
XVLQJ IXHO GR QRW XVH QDNHG IODPH QR HOHFWULF
VSDUNV GR QRW VPRNH GR QRW VSLOO IXHO 'R QRW
LQKDOH
JRJJOHVVDIHW\ PDVN 9HQWLODWH ZRUNLQJ DUHD ZHOO
0DUN LQMHFWLRQ SXPS LQ DFFRUGDQFH ZLWK LQVWDOOD

WLRQ ORFDWLRQ
8VLQJ VRFNHW DQG H[WHQVLRQ UHPRYH GRXEOHKH[
VFUHZV RI LQMHFWLRQ SXPS DSSUR[ PP
,I WKH LQMHFWLRQ SXPS LV QRW DOUHDG\ SUHVVHG RXW RI WKH
FUDQNFDVH E\ PHDQV RI WKH SUHORDGHG FRPSUHVVLRQ
VSULQJ EDU WKH HQJLQH ZLWK WKH HQJLQH EDUULQJ WRRO
XQWLO WKH LQMHFWLRQ SXPS LV OLIWHG E\ WKH SXPS FDPV
1RWH $ ILUPO\VHDWHG LQMHFWLRQ SXPS PXVW QRW EH
SUHVVHG RXW DW WKH VROHQRLG YDOYH RU LQWHU
PHGLDWH SODWH
,I QHFHVVDU\ FDUHIXOO\ SUHVV RXW LQMHFWLRQ SXPS DW
UHFHVV LQ LQMHFWLRQ SXPS KHDG
5HPRYH GRXEOHKH[ VFUHZV DQG LQMHFWLRQ SXPS
5HPRYH 2ULQJV IURP LQMHFWLRQ SXPS
6HDO LQVWDOODWLRQ ERUH LI QHFHVVDU\
(
)XHO ,QMHFWLRQ 3XPS *URXS
3DJH
& 'LVDVVHPEO\

,QMHFWLRQ SXPS PXVW QRW EH GLVDVVHPEOHG

5HSODFH LQMHFWLRQ SXPS LQ DFFRUGDQFH ZLWK PDLQWHQDQFH VFKHGXOH GXULQJ DSSURSULDWH PDLQWHQDQFH HFKHORQ
&$87,21
:KHQ UHXVLQJ LQMHFWLRQ SXPS FOHDQ ZLWK FOHDQLQJ DJHQW EORZ RXW ZLWK FRPSUHVVHG DLU DQG PDNH VXUH LW LV SHU
IHFWO\ FOHDQ
0DNH YLVLEOH LQVSHFWLRQ RI LQMHFWLRQ SXPS IRU ZHDU DQG GDPDJH SD\LQJ SDUWLFXODU DWWHQWLRQ WR WKH UXQQLQJ VXUIDFH RI
WKH UROOHU UHSODFH LQMHFWLRQ SXPS LI LW LV ZRUQ RU GDPDJHG
&OHDQ GRXEOHKH[ VFUHZV DQG FKHFN FRQGLWLRQ RI VFUHZV
0DNH VXUH WKUHDGV DUH LQ SHUIHFW FRQGLWLRQ UHSODFH GRXEOH KH[ VFUHZV DV QHFHVVDU\
&KHFN FRQGLWLRQ RI ZLULQJ UHSODFH LI QHFHVVDU\
5HSODFH 2ULQJV HYHU\ WLPH SXPS LV DVVHPEOHG
& ,QVWDOODWLRQ
,QVWDOOLQJ LQMHFWLRQ SXPS

&RDW ERWK 2ULQJV DQG ZLWK SHWUROHXP MHOO\
DQG ILW RQ LQMHFWLRQ SXPS
1RWH 2ULQJV KDYH GLIIHUHQW LWHP QXPEHUV 0DNH
VXUH WKDW LQVWDOODWLRQ SRVLWLRQ LV FRUUHFW
&RDW UROOHU DUURZ RI LQMHFWLRQ SXPS ZLWK HQJLQH RLO
(
*URXS )XHO ,QMHFWLRQ 3XPS
3DJH
1RWH %HIRUH LQVWDOOLQJ UHPRYH DOO EODQNLQJ SOXJV

DQG FRYHUV
&KHFN WKDW VHDOLQJ VXUIDFHV DQG IXHO ERUHV LQ WKH
FUDQNFDVH DUH SHUIHFWO\ FOHDQ FOHDQ LI QHFHVVDU\
8VLQJ WKH HQJLQH EDUULQJ WRRO VHW SXPS FDPV RI
FDPVKDIW WR EDVH FLUFOH
$UUDQJH LQMHFWLRQ SXPS ZLWK UHVSHFW WR LQVWDOODWLRQ
ORFDWLRQ DQG PDQXDOO\ SUHVV LQWR FUDQNFDVH DJDLQVW
VSULQJ SRZHU GLVWDQFH DSSUR[ PP
1RWH ,I D QHZ LQMHFWLRQ SXPS LV LQVWDOOHG FRGLQJ
PXVW EH HQWHUHG LQWR WKH HQJLQH FRQWURO V\V
WHP VHH '&& RU 078 (OHNWURQLN 'RFX
PHQWDWLRQ
,QVHUW ERWK GRXEOHKH[ VFUHZV ZLWK VRFNHW DQG
H[WHQVLRQ XQLIRUPO\ DQG WLJKWHQ WR VSHFLILHG WLJKWHQ
LQJ WRUTXH VHH &
$WWDFK SOXJLQ FOLS RI ZLULQJ WR VROHQRLG YDOYH DQG
WLJKWHQ VFUHZV WR VSHFLILHG WLJKWHQLQJ WRUTXH
VHH $

2SHUDWLRQV 6HH
[ ,QVWDOO HQJLQH %
[ [ ,QVWDOO +3 OLQH &
(
,QMHFWRU ,QMHFWLRQ /LQH *URXS
3DJH
& ,QMHFWRU ,QMHFWLRQ /LQH

& *HQHUDO 9LHZ
,QMHFWRU +H[ VFUHZ

6HDOLQJ ULQJ
2ULQJ
(QG FRYHU
&ODPSLQJ HOHPHQW
6HDOLQJ ULQJ
(
*URXS ,QMHFWRU ,QMHFWLRQ /LQH
3DJH
,QMHFWLRQ /LQH
+3 OLQH
8QLRQ QXW RQ LQMHFWLRQ SXPS
$GDSWHU LQ F\OLQGHU KHDG

& 6SHFLDO 7RRO
5LQJ ZUHQFK LQVHUW IRU XQLRQ QXWV

)XHO VXFWLRQ OLIW
5HPRYDO WRRO IRU LQMHFWRU
(
3DJH

2SHUDWLRQV 6HH
[ 5HPRYH HQJLQH %
[ [ 5HPRYH RLO VHSDUDWRU LI QHFHVVDU\ &
[ [ 5HPRYH OHDNRII IXHO OLQH IURP UHVSHFWLYH F\OLQGHU KHDG &
& 5HPRYDO

5HPRYLQJ +3 IXHO OLQHV DQG IXHO LQMHFWRUV
:$51,1*
RXV 5LVN RI ILUH H[SORVLRQ DQG SRLVRQLQJ :KHQ
LQKDOH
5HPRYH XQLRQ QXW DQG DGDSWHU DUURZ

:LWKGUDZ +3 OLQH IURP F\OLQGHU KHDG
8VLQJ D VSUD\HU DQG UXEEHU KRVH GUDLQ IXHO LQ WKH
WZR IUHH ERUHV
:LWKGUDZ KH[ VFUHZ DQG UHPRYH FODPSLQJ HOHPHQW

,QVWDOO UHPRYDO WRRO IRU LQMHFWRU RQ IHPDOH WKUHDG RI
LQMHFWRU DQG UHPRYH LQMHFWRU
5HPRYH FRSSHU ULQJ ZLWK D ZLUH KRRN
5HPRYH 2ULQJ IURP LQMHFWRU
&RYHU DOO FRQQHFWLRQV DQG LQVWDOODWLRQ ERUHV RU VHDO
ZLWK VXLWDEOH SOXJV
(
3DJH
5HPRYLQJ HQG FRYHU IRU FODPSLQJ HOHPHQW LQ F\O

LQGHU KHDG
8VLQJ D VFUHZ GULYHU FDUHIXOO\ UHPRYH HQG FRYHU
IURP F\OLQGHU KHDG
5HPRYH VHDOLQJ ULQJ
& 'LVDVVHPEO\

,QMHFWLRQ PXVW QRW EH GLVDVVHPEOHG

1RWH 0DNH VXUH IXHOFDUU\LQJ FRPSRQHQWV DUH SHUIHFWO\ FOHDQ
5HSODFH LQMHFWRU LQ DFFRUGDQFH ZLWK PDLQWHQDQFH VFKHGXOH GXULQJ DSSURSULDWH PDLQWHQDQFH HFKHORQ
:KHQ UHXVLQJ LQMHFWRU FKHFN LW H[WHUQDOO\ IRU GDPDJH DQG UHSODFH LI QHFHVVDU\
&$87,21
%ORZ RXW +3 OLQH ZLWK FRPSUHVVHG DLU DQG PDNH VXUH LW LV SHUIHFWO\ FOHDQ
8VLQJ WKH PDJQHWLF FUDFNWHVWLQJ PHWKRG ZLWK IOXRUHVFHQW PDJQHWLF SRZGHU FKHFN KH[ VFUHZ DQG FODPSLQJ HO
HPHQW IRU FUDFNV UHSODFH FRPSRQHQWV DV QHFHVVDU\
&KHFN VHDWLQJ IDFHV RI FODPSLQJ HOHPHQW DQG HQG FRYHU LI QHFHVVDU\ UXE GRZQ ZLWK DQ RLOVWRQH RU HPHU\ FORWK
5HSODFH FRPSRQHQWV DV QHFHVVDU\
&KHFN KH[ VFUHZV IRU GDPDJH DQG FKHFN WKUHDGV IRU HDVH RI PRYHPHQW UHSODFH KH[ VFUHZ LI QHFHVVDU\
&KHFN VHDOLQJ FRQHV DQG WKUHDGV RQ +3 IXHO OLQH IRU GDPDJH DQG ZHDU UHSODFH +3 IXHO OLQH LI QHFHVVDU\
1RWH 'R QRW EHQG WKH +3 OLQH
5HSODFH VHDOLQJ ULQJV DQG 2ULQJV DW HYHU\ DVVHPEO\
(
3DJH
& ,QVWDOODWLRQ

,QVWDOOLQJ HQG FRYHU IRU FODPSLQJ HOHPHQW LQ F\O
LQGHU KHDG
&RDW VHDOLQJ ULQJ ZLWK SHWUROHXP MHOO\ DQG LQVHUW LQ
JURRYH RQ HQG FRYHU
,QVHUW HQG FRYHU LQWR ERUH LQ F\OLQGHU KHDG
,QVWDOOLQJ IXHO LQMHFWRUV DQG LQMHFWLRQ OLQHV

1RWH 0DNH VXUH IXHOFDUU\LQJ FRPSRQHQWV DUH SHU
IHFWO\ FOHDQ 3ULRU WR LQVWDOODWLRQ UHPRYH DOO
EODQNLQJ SOXJV DQGRU FRYHUV
:$51,1*
)XHOV DQG IXHO YDSRXUV DUH IODPPDEOH DQG SRL
VRQRXV 5LVN RI ILUH H[SORVLRQ DQG SRLVRQLQJ
:KHQ XVLQJ IXHO
GR QRW XVH QDNHG IODPH QR HOHFWULF VSDUNV
GR QRW VPRNH GR QRW VSLOO IXHO 'R QRW LQKDOH
JRJJOHVVDIHW\ PDVN 9HQWLODWH ZRUNLQJ DUHD
ZHOO
%DU HQJLQH VHYHUDO WLPHV WR EORZ RXW DQ\ UHPDLQLQJ
IXHO
&KHFN VHDOLQJ VXUIDFH RQ F\OLQGHU KHDG DQG QR]]OH
KROGHU FOHDQ LI QHFHVVDU\
&RDW QHZ 2ULQJ ZLWK SHWUROHXP MHOO\ DQG ILW RQ
LQMHFWRU
1RWH 7KH FRSSHU VHDOLQJ ULQJ FDQ EH LQVWDOOHG
DQ\ ZD\ URXQG
)LW QHZ FRSSHU VHDOLQJ ULQJ RQ LQMHFWRU LI QHFHVVDU\
XVLQJ JUHDVH DV DGKHVLYH
3UHVV LQMHFWRU LQWR F\OLQGHU KHDG E\ KDQG (QVXUH
WKDW SLQ LQ LQMHFWRU LV DW R·FORFN SRVLWLRQ ZLWK UH
JDUG WR HQJLQH ORQJLWXGLQDO D[LV ,QVWDOODWLRQ GLUHFWLRQ
VHH QH[W LOOXVWUDWLRQ
,QVWDOO FODPSLQJ HOHPHQW ZLWK KH[ VFUHZ HQVXULQJ
WKDW LW LV SRVLWLRQHG FRUUHFWO\ DQG WKDW LW LV SHUIHFWO\
VHDWHG RQ LQMHFWRU DQG HQG FRYHU
(
3DJH
7KH LQMHFWRU VXSSO\ ERUH PXVW SRLQW LQ WKH LQVWDOODWLRQ

GLUHFWLRQ DUURZ RI WKH SUHVVXUH SLSH FRQQHFWLRQ
3LQ LQ LQMHFWRU PXVW EH ORFDWHG LQ FODPSLQJ
HOHPHQW UHFHVV
7KH IRUN RQ WKH FODPSLQJ HOHPHQW PXVW HQJDJH LQ
WKH HQG FRYHU
7LJKWHQ KH[ VFUHZ WR VSHFLILHG WLJKWHQLQJ WRUTXH
VHH &
&RDW 2ULQJ LQ +3 IXHO OLQH ZLWK SHWUROHXP

MHOO\
,QVHUW +3 OLQH LQWR F\OLQGHU KHDG VFUHZ XQLRQ QXW
DQG DGDSWHU DUURZ LQWR SRVLWLRQ DQG WLJKWHQ E\
KDQG
)LUVW WLJKWHQ XQLRQ QXW RQ LQMHFWLRQ SXPS DQG WKHQ
VFUHZLQ FRQQHFWLRQ LQ F\OLQGHU KHDG WR VSHFLILHG
WLJKWHQLQJ WRUTXH VHH &
1RWH $IWHU HQJLQH VWDUW YLVXDOO\ LQVSHFW IXHO V\V
WHP IRU OHDNV

2SHUDWLRQV 6HH
[ ,QVWDOO HQJLQH %
[ [ ,QVWDOO OHDNRII IXHO OLQH &
[ [ ,QVWDOO RLO VHSDUDWRU &
(
)XHO 6\VWHP /RZ 3UHVVXUH *URXS
3DJH
&RQWHQWV
& )XHO 6\VWHP /RZ 3UHVVXUH

& 3UHVVXUH WHVWLQJ IXHO V\VWHP
& )XHO OLQHV EHIRUH IXHO SXPS IXHO SXPS

& *HQHUDO YLHZ
& 6SHFLDO WRRO
& 5HPRYDO
& 'LVDVVHPEO\
& ,QVWDOODWLRQ
& )XHO OLQH IURP SXPS WR ILOWHU

& *HQHUDO YLHZ
& 5HPRYDO
& ,QVWDOODWLRQ
& )XHO ILOWHU

& *HQHUDO YLHZ
& 6SHFLDO WRRO
& 5HPRYDO
& ,QVWDOODWLRQ
& )XHO OLQH IURP ILOWHU WR LQMHFWLRQ SXPS

& *HQHUDO YLHZ
& 6SHFLDO WRRO
& 5HPRYDO
& 'LVDVVHPEO\
& $VVHPEO\
& ,QVWDOODWLRQ
(
*URXS )XHO 6\VWHP /RZ 3UHVVXUH
3DJH
& /HDNRII IXHO SLSHZRUN

& *HQHUDO YLHZ
& 5HPRYDO
& ,QVWDOODWLRQ
(
)XHO 6\VWHP /RZ 3UHVVXUH *URXS
3DJH
& )XHO 6\VWHP /RZ 3UHVVXUH
3UHVVXUH UHJXODWLQJ YDOYH ,QMHFWLRQ SXPS ,QMHFWRU
-XQFWLRQ ER[ )URP IXHO WDQN )XHO SXPS
7R IXHO WDQN )XHO SUHILOWHU )XHO GXSOH[ ILOWHU
'LHVHO HQJLQH +3 OLQH
D )XHO V\VWHP ORZ SUHVVXUH
% )XHO V\VWHP KLJK SUHVVXUH
(
*URXS )XHO 6\VWHP /RZ 3UHVVXUH
3DJH
&$87,21
0DWHULDOV DQG FRQVXPDEOHV 'HVLJQDWLRQ 2UGHU QR 5HPDUNV

078 ''&
(PHU\ FORWK
:LUH EUXVK
0DJQLI\LQJ JODVV
(QJLQH RLO
7KUHDGVHDOLQJ FRPSRXQG /RFWLWH 1R )LQDO VWUHQJWK DW & KUV
(WKDQRO GHQDWXUDWHG
'U\ FRPSUHVVHG DLU

SHQHWUDQW G\H
(
3UHVVXUH 7HVWLQJ *URXS
)XHO 6\VWHP 3DJH
& 3UHVVXUH 7HVWLQJ )XHO 6\VWHP

1RWH $IWHU WKH HQJLQH KDV EHHQ DVVHPEOHG WKH IXHO V\VWHP LQ SUHVVXUH WHVWHG ZLWK FRPSUHVVHG DLU RU FKHFNHG
IRU OHDNDJHV
:$51,1*
2QO\ XVH K\GUDXOLF SUHVVXUH WHVWLQJ GHYLFH VSHFLILHG E\ WKH PDQXIDFWXUHU
2EVHUYH VSHFLILHG VDIHW\ DQG DFFLGHQW SUHYHQWLRQ UHJXODWLRQV
6HDO DGDSWHU RQ GLVWULEXWRU KRXVLQJ VHH &

&RQQHFW FRPSUHVVHG DLU VXSSO\ OLQH RI WKH K\GUDXOLF WHVWLQJ GHYLFH WR WKH IXHO VXSSO\ GHOLYHU\ SXPS
:$51,1*
&RPSUHVVHG DLU LV DLU ZKLFK KDV EHHQ FRPSUHVVHG XQGHU SUHVVXUH 5LVN RI LQMXU\ 7HVW SUHVVXUH PXVW QRW
EH H[FHHGHG $OZD\V ZHDU SURWHFWLYH FORWKLQJ SURWHFWLYH JORYHV DQG SURWHFWLYH JRJJOHVVDIHW\ PDVN
+\GUDXOLFDOO\ SUHVVXUH WHVW IXHO V\VWHP ZLWK FRPSUHVVHG DLU DQG FKHFN IRU OHDNDJHV
)LOOLQJ SUHVVXUH EDU SVL
)LOOLQJ WLPH V
0D[ OHDNRII UDWH FPPLQ
7HVW WLPH V
,I WKH PD[ OHDNRII UDWH LV H[FHHGHG GHWHUPLQH FDXVH DQG UHFWLI\
(
*URXS 3UHVVXUH 7HVWLQJ
3DJH )XHO 6\VWHP
(
)XHO /LQHV EHIRUH )XHO 3XPS *URXS
)XHO 3XPS 3DJH
& )XHO /LQHV EHIRUH )XHO 3XPS )XHO 3XPS

& *HQHUDO 9LHZ
)XHO OLQHV EHIRUH IXHO GHOLYHU\ SXPS
)XHO OLQH
$GDSWHU
5HWDLQHU
&ODPS
(
*URXS )XHO /LQHV EHIRUH )XHO 3XPS
3DJH )XHO 3XPS
)XHO GHOLYHU\ SXPS
)XHO GHOLYHU\ SXPS 'ULYHU
'ULYHU *DVNHW
6FUHZ +H[ VFUHZ

%UDFNHW
3OXJ
& 6SHFLDO WRRO
6WDUWHU NH\ [ IRU IXHO SXPS

&URZIRRW ZUHQFK µ $)
([WHQVLRQ EHQW µ PP
(
)XHO 3XPS 3DJH

2SHUDWLRQV 6HH
[ 5HPRYH HQJLQH %

& 5HPRYDO
5HPRYLQJ IXHO OLQHV EHIRUH IXHO GHOLYHU\ SXPS

1RWH %HIRUH UHPRYLQJ IXHO OLQHV LW LV DGYLVDEOH WR WDNH SKRWRJUDSKV RI WKH OLQHV RQ WKH HQJLQH RU WR PDUN WKH IXHO
OLQHV ZLWK PHWDO WDEV WR IDFLOLWDWH UHLQVWDOODWLRQ
:$51,1*
)XHOV DQG IXHO PLVWV DUH IODPPDEOH DQG SRLVRQRXV 5LVN RI ILUH H[SORVLRQV DQG SRLVRQLQJ :KHQ XVLQJ IXHO
GR QRW XVH QDNHG IODPH QR HOHFWULF VSDUNV GR QRW VPRNH GR QRW VSLOO IXHO 'R QRW LQKDOH
$OZD\V ZHDU SURWHFWLYH JORYHV DQG SURWHFWLYH JRJJOHVVDIHW\ PDVN 9HQWLODWH ZRUNLQJ DUHD ZHOO
5HOHDVH IXHO OLQH WKUHDGHG FRQQHFWLRQ DQG FDWFK IXHO HPHUJLQJ LQ D VXLWDEOH FRQWDLQHU
5HPRYH IXHO OLQH DQG IL[WXUHV LQ DFFRUGDQFH ZLWK *HQHUDO 9LHZ VHH &
$IWHU UHPRYLQJ WKH IXHO OLQH FRYHU DOO FRQQHFWLRQV ZLWK VXLWDEOH SOXJV
5HPRYLQJ IXHO GHOLYHU\ SXPS

5HPRYH IXHO GHOLYHU\ SXPS IURP HTXLSPHQW FDUULHU LQ DFFRUGDQFH ZLWK *HQHUDO 9LHZ VHH &
5HPRYH GULYHU IURP GULYH VKDIW RI IXHO GHOLYHU\ SXPS
5HPRYH JDVNHW
5HPRYH VFUHZ IURP FRRODQW SXPS VKDIW DQG UHPRYH GULYHU
& 'LVDVVHPEO\
'LVDVVHPEOLQJ IXHO GHOLYHU\ SXPS

)XHO GHOLYHU\ SXPS PXVW QRW EH GLVDVVHPEOHG
(
3DJH )XHO 3XPS

)XHO GHOLYHU\ SXPS

&KHFN IXHO GHOLYHU\ SXPS LQ D VSHFLDOLVW ZRUNVKRS RU DW 0DQXIDFWXUHU·V KDYH UHSDLUHG LI QHFHVVDU\
&$87,21
&OHDQ IXHO GHOLYHU\ SXPS ZLWK FOHDQHU EORZ RXW ZLWK FRPSUHVVHG DLU DQG PDNH VXUH LW LV SHUIHFWO\ FOHDQ
3HUIRUP H[WHUQDO YLVXDO LQVSHFWLRQ RI IXHO GHOLYHU\ SXPS IRU GDPDJH DQG ZHDU UHSODFH DV QHFHVVDU\
&KHFN VHFXULQJ VFUHZV IRU GDPDJH DQG FKHFN WKUHDGV IRU HDVH RI PRYHPHQW UHSODFH VFUHZV LI QHFHVVDU\
5HSODFH JDVNHW
)XHO OLQH DQG VHFXULQJ HOHPHQWV
&OHDQ IXHO OLQH ZLWK FOHDQHU DQG YLVXDOO\ LQVSHFW IRU FRQGLWLRQ DQG GDPDJH UHSODFH LI QHFHVVDU\
&$87,21
%ORZ RXW IXHO OLQH ZLWK FRPSUHVVHG DLU DQG PDNH VXUH LW LV SHUIHFWO\ FOHDQ
&KHFN IXHO OLQH ZLWK DLU XQGHU ZDWHU IRU OHDNDJHV UHSODFH LI LW LV OHDNLQJ
:$51,1*
&RPSUHVVHG DLU LV DLU ZKLFK KDV EHHQ FRPSUHVVHG XQGHU SUHVVXUH 5LVN RI LQMXU\ 3UHVVXUH PXVW QRW H[FHHG
EDU OELQ $OZD\V ZHDU SURWHFWLYH FORWKLQJ SURWHFWLYH JORYHV DQG SURWHFWLYH JRJJOHVVDIHW\ PDVN
&RRODQW WHPSHUDWXUH PLQ & FRPSRQHQWV PXVW DOVR EH DW WKLV WHPSHUDWXUH PD[ & LI FRPSRQHQW PXVW EH
KHOG LQ KDQGV
7HVW SUHVVXUH EDU
&KHFN WKUHDGV RI XQLRQ QXWV DQG VLQJOHHQGHG XQLRQV IRU HDVH RI PRYHPHQW UHFRQGLWLRQ RU UHSODFH SDUW DV UH
TXLUHG
&KHFN VHFXULQJ HOHPHQWV RI IXHO OLQH IRU GDPDJH DQG ZHDU UHSODFH FRPSRQHQWV DV QHFHVVDU\
(
)XHO 3XPS 3DJH
& ,QVWDOODWLRQ

,QVWDOOLQJ IXHO GHOLYHU\ SXPS
,QVWDOO GULYHU ZLWK VFUHZ WR WKH FRRODQW SXPS VKDIW VHH & DQG WLJKWHQ WR VSHFLILHG WLJKWHQLQJ WRUTXH
VHH &
0RXQW JDVNHW RQ HTXLSPHQW FDUULHU
0RXQW GULYHU RQ GULYH VKDIW RI IXHO GHOLYHU\ SXPS LQ DFFRUGDQFH ZLWK *HQHUDO 9LHZ
$OLJQ GULYHU GRJ WR GULYHU RI FRRODQW SXPS VKDIW
,QVWDOO IXHO GHOLYHU\ SXPS LQ HTXLSPHQW FDUULHU PDNLQJ VXUH GULYHU GRJ LV FRUUHFWO\ SRVLWLRQHG
8VLQJ KH[ EROWV WLJKWHQ IXHO GHOLYHU\ SXPS
,QVWDOOLQJ IXHO OLQHV EHIRUH IXHO GHOLYHU\ SXPS

1RWH 5HPRYH DOO EODQNLQJ SOXJ EHIRUH LQVWDOODWLRQ
&$87,21
,QVWDOO IXHO OLQH ZLWK VHFXULQJ HOHPHQWV LQ DFFRUGDQFH ZLWK *HQHUDO 9LHZ VHH & RU LQVWDOO WHQVLRQIUHH DV
VKRZQ LQ WKH SKRWR RU DV SHU PDUNLQJV
1RWH $IWHU HQJLQH VWDUW YLVXDOO\ LQVSHFW IXHO V\VWHP IRU OHDNV

2SHUDWLRQV 6HH
[ ,QVWDOO HQJLQH %
(
3DJH )XHO 3XPS
(
)XHO /LQH IURP *URXS
3XPS WR )LOWHU 3DJH
& )XHO /LQH IURP 3XPS WR )LOWHU

& *HQHUDO 9LHZ
)XHO OLQH 1XW
&ODPS %UDFNHW
+H[ VFUHZ +H[ VFUHZ

2SHUDWLRQV 6HH
[ 5HPRYH HQJLQH %
(
*URXS )XHO /LQH IURP
3DJH 3XPS WR )LOWHU
& 5HPRYDO
5HPRYLQJ IXHO OLQH IURP SXPS WR ILOWHU
:$51,1*
)XHOV DQG IXHO PLVWV DUH IODPPDEOH DQG SRLVRQRXV 5LVN RI ILUH H[SORVLRQ DQG SRLVRQLQJ :KHQ XVLQJ IXHO
GR QRW XVH QDNHG IODPH QR HOHFWULF VSDUNV GR QRW VPRNH GR QRW VSLOO IXHO 'R QRW LQKDOH
$OZD\V ZHDU SURWHFWLYH JORYHV DQG SURWHFWLYH JRJJOHVVDIHW\ PDVN 9HQWLODWH ZRUNLQJ DUHD ZHOO
5HOHDVH IXHO OLQH WKUHDGHG FRQQHFWLRQ DQG FDWFK IXHO HPHUJLQJ LQ D VXLWDEOH FRQWDLQHU
5HPRYH IXHO OLQH DQG IL[WXUHV LQ DFFRUGDQFH ZLWK *HQHUDO 9LHZ VHH &
$IWHU UHPRYLQJ WKH IXHO OLQH FRYHU DOO FRQQHFWLRQV ZLWK VXLWDEOH SOXJV

&OHDQ IXHO OLQH ZLWK FOHDQHU DQG YLVXDOO\ LQVSHFW IRU FRQGLWLRQ DQG GDPDJH UHSODFH LI QHFHVVDU\
&$87,21
&KHFN IXHO OLQH ZLWK DLU XQGHU ZDWHU IRU OHDNDJHV UHSODFH LI LW LV OHDNLQJ
:$51,1*
&RPSUHVVHG DLU LV DLU ZKLFK KDV EHHQ FRPSUHVVHG XQGHU SUHVVXUH 5LVN RI LQMXU\ 3UHVVXUH PXVW QRW H[FHHG
EDU OELQ $OZD\V ZHDU SURWHFWLYH FORWKLQJ SURWHFWLYH JORYHV DQG SURWHFWLYH JRJJOHVVDIHW\ PDVN
KHOG LQ KDQGV
7HVW SUHVVXUH EDU
&KHFN VHFXULQJ HOHPHQWV RI IXHO OLQH IRU GDPDJH DQG ZHDU UHSODFH FRPSRQHQWV DV QHFHVVDU\
&KHFN WKUHDGV RI XQLRQ QXWV DQG VLQJOHHQGHG XQLRQV IRU HDVH RI PRYHPHQW UHFRQGLWLRQ RU UHSODFH SDUW DV UH
TXLUHG
(
)XHO /LQH IURP *URXS
3XPS WR )LOWHU 3DJH
& ,QVWDOODWLRQ
,QVWDOOLQJ IXHO OLQH IURP SXPS WR ILOWHU

1RWH 3ULRU WR LQVWDOODWLRQ UHPRYH DOO EODQNLQJ SOXJV
&$87,21
,QVWDOO IXHO OLQH ZLWK FRQQHFWLQJ DQG VHFXULQJ HOHPHQWV LQ DFFRUGDQFH ZLWK *HQHUDO 9LHZ VHH & RU LQVWDOO
WHQVLRQIUHH DV VKRZQ LQ WKH SKRWR RU DV SHU PDUNLQJV
1RWH $IWHU HQJLQH VWDUW YLVXDOO\ LQVSHFW IXHO V\VWHP IRU OHDNV

2SHUDWLRQV 6HH
[ ,QVWDOO HQJLQH %
(
*URXS )XHO /LQH IURP
3DJH 3XPS WR )LOWHU
(
)XHO )LOWHU *URXS
3DJH
& )XHO )LOWHU

& *HQHUDO 9LHZ
)XHO GXSOH[ ILOWHU 6FUHZ
1XW 6FUHZ
%UDFNHW )LOWHU HOHPHQW
& 6SHFLDO 7RRO
6WUDS ZUHQFK IRU IXHO ILOWHU
(
*URXS )XHO )LOWHU
3DJH

2SHUDWLRQV 6HH
[ 5HPRYH HQJLQH %
[ [ 'LVFRQQHFW HOHFWULF FDEOHV &
& 5HPRYDO
5HPRYLQJ IXHO GXSOH[ ILOWHU
:$51,1*

LQKDOH
5HPRYH ILOWHU LQVHUWV XVLQJ D VWUDS ZUHQFK DUURZ

DQG GLVSRVH RI LQ DFFRUGDQFH ZLWK ORFDO UHJXODWLRQV
1RWH &ROOHFW UXQRII IXHO
5HPRYH IXHO GXSOH[ ILOWHU DQG FDUULHU DV VKRZQ LQ
*HQHUDO 9LHZ VHH &
5HPRYH IXHO WHPSHUDWXUH VHQVRU IURP IXHO GXSOH[
ILOWHU VHH &
(
)XHO )LOWHU *URXS
3DJH

5HSODFH ILOWHU LQVHUWV
&KHFN IXHO WHPSHUDWXUH WUDQVPLWWHU DQG IXHO SUHVVXUH WUDQVPLWWHU LQ DFFRUGDQFH ZLWK 6SHFLDO 3XEOLFDWLRQ
&OHDQ DOO FRPSRQHQWV ZLWK µFOHDQHUµ YLVXDOO\ LQVSHFW IRU GDPDJH DQG FKHFN FRQGLWLRQ UHSODFH FRPSRQHQW DV
QHFHVVDU\
%UXVK RII FRUURVLRQ VWDLQV RU ZDWHU VWDLQV LQ IXHO GXSOH[ ILOWHU
&$87,21
&RPSUHVVHG DLU LV DLU SUHVVXULVHG E\ RYHUSUHVVXUH ,I FRPSUHVVHG DLU LV XVHG IRU EORZLQJ RXW RU EORZGU\LQJ
FRPSRQHQWV DOZD\V ZHDU SURWHFWLYH JRJJOHV RU VDIHW\ PDVN &RPSUHVVHG DLU PXVW QRW EH GLUHFWHG DW WKH
ERG\ 7KH SUHVVXUH PXVW QRW H[FHHG EDU OELQ
%ORZ IXHO GXSOH[ ILOWHU WKURXJK ZLWK FRPSUHVVHG DLU DQG PDNH VXUH WKH\ DUH SHUIHFWO\ FOHDQ
,I QHFHVVDU\ SUHVVXUHWHVW IXHO GXSOH[ ILOWHU ZLWK DLU LQ ZDWHU EDWK IRU OHDNV
1RWH ,QVWDOO ILOWHU LQVHUWV EHIRUH FDUU\LQJ RXW OHDN FKHFN
KHOG LQ KDQGV
:$51,1*
&RPSUHVVHG DLU LV DLU SUHVVXULVHG E\ RYHUSUHVVXUH 5LVN RI LQMXU\ 3UHVVXUH PXVW QRW H[FHHG EDU
OELQ $OZD\V ZHDU SURWHFWLYH FORWKLQJ SURWHFWLYH JORYHV DQG SURWHFWLYH JRJJOHVVDIHW\ PDVN
7HVW SUHVVXUH EDU

,Q HYHQW RI OHDNV UHSODFH EODQNLQJ SOXJ RU UHSODFH IXHO GXSOH[ ILOWHU
&KHFN VHDOLQJ DQG PDWLQJ IDFHV IRU GDPDJH DQG GHIHFWV UXE GRZQ ZLWK DQ RLOVWRQH RU UHSODFH SDUWV LI QHFHVVDU\
&KHFN FRQGLWLRQ RI WKUHDGV PDFKLQH RU UHSODFH FRPSRQHQWV DV QHFHVVDU\
(
*URXS )XHO )LOWHU
3DJH
& ,QVWDOODWLRQ

,QVWDOOLQJ IXHO GXSOH[ ILOWHU
1RWH 0DNH VXUH DOO IXHOFDUU\LQJ FRPSRQHQWV DUH
SHUIHFWO\ FOHDQ
,QVWDOO IXHO GXSOH[ ILOWHU DQG FDUULHU DV VKRZQ LQ
*HQHUDO 9LHZ VHH &
,QVWDOOLRQ IXHO WHPSHUDWXUH VHQVRU VHH &
:$51,1*
LQKDOH
)LOO ILOWHU HOHPHQWV ZLWK FOHDQ IXHO

&RDW VHDOLQJ ULQJ RI ILOWHU HOHPHQWV ZLWK IXHO
0RXQW ILOWHU HOHPHQWV DUURZV DQG WLJKWHQ E\ KDQG

1RWH 'R QRW XVH DQ\ WRRO WR DWWDFK ILOWHU HOHPHQW
$IWHU WKH WHVW UXQ FKHFN WKH IXHO ILOWHU IRU
OHDNV WLJKWHQ LI QHFHVVDU\
(
)XHO )LOWHU *URXS
3DJH

2SHUDWLRQV 6HH
[ ,QVWDOO HQJLQH %
(
*URXS )XHO )LOWHU
3DJH
(
7DVN 'HVFULSWLRQ

Sprache

Willkommen bei Scribd!

M020085_10_E_9902.pdf

Hochgeladen von

Dokumentinformationen

Datum des Uploads

Copyright

Verfügbare Formate

Dieses Dokument teilen

Dokument teilen oder einbetten

Freigabeoptionen

Stufen Sie dieses Dokument als nützlich ein?

Sind diese Inhalte unangemessen?

Beschreibung:

Copyright:

Verfügbare Formate

M020085_10_E_9902.pdf

Hochgeladen von

Beschreibung:

Copyright:

Verfügbare Formate

Verwandte Titel

Technical Publication

Veuillez séparer la carte “Signalisation de mise en service“ et la renvoyer à la MTU Friedrichshafen

Rogamos separen la tarjeta “Aviso de puesta en servicio“ y la devuelvan rellenada a MTU

MTU Friedrichshafen GmbH

MTU Friedrichshafen GmbH

Please use block capitals!

Receipt Amendment No. 1. 01--01

j Update as (PDF) file as CD--ROM 3.

j Update in hardcopy form 4.

Fax Telephone 11.

(Postal code) City 15.

2SHUDWLRQ 6FKHGXOHV  &KHFN HQJLQH FRQGLWLRQ

7DVN 'HVFULSWLRQV  *URXS RYHUZLHZ

$ ,PSRUWDQW ,QIRUPDWLRQ

$ 'HVLJQDWLRQ RI (QJLQH 6LGHV DQG &\OLQGHUV

$ 7RUTXH 6SHFLILFDWLRQV IRU 6FUHZV DQG 1XWV

$ +D]DUGV LQ :RUNLQJ $UHDV

$ 'DWD 6KHHWV

$ 3XEOLFDWLRQ 6XPPDU\

$ 5HSDLULQJ 7KUHDGHG %RUHV

$ .H\ZRUG ,QGH[

$ ,PSRUWDQW ,QIRUPDWLRQ

,QGH[ VKHHWV GLYLGH WKLV PDQXDO LQWR  PDLQ VHFWLRQV

(DFK IXQFWLRQ JURXS )* FRQVLVWV RI QR PRUH WKDQ QLQH SDUWV

HJ &  *HQHUDO YLHZ

%DVLF UHTXLUHPHQWV IRU PDLQWHQDQFH DQG VHUYLFH ZRUN

*HQHUDO $VVHPEO\ ,QVWUXFWLRQV

D 7KUHDGHG FRQQHFWLRQV ZLWKRXW WLJKWHQLQJ VSHFLILFDWLRQV

E 7KUHDGHG FRQQHFWLRQV ZLWK WLJKWHQLQJ VSHFLILFDWLRQV

$ 'HVLJQDWLRQ RI HQJLQH VLGHV DQG F\OLQGHUV

'HVLJQDWLRQV DQG $EEUHYLDWLRQV

$  7LJKWHQLQJ 6SHFLILFDWLRQV IRU 6FUHZV DQG 1XWV

'HVLJQDWLRQ 7LJKWHQLQJ /XEULFDQW 6HH

7LJKWHQLQJ VHTXHQFH KH[ VFUHZV EHIRUH GRXEOHKH[ VFUHZV

'HVLJQDWLRQ 7LJKWHQLQJ /XEULFDQW 6HH

3URWHFWLYH VOHHYH IRU LQMHFWRU  1P   1P (QJLQH RLO & 

'HVLJQDWLRQ 7LJKWHQLQJ /XEULFDQW 6HH

)XHO V\VWHP ORZ SUHVVXUH

7KUHDG :LWKRXW WRUVLRQ SURWHFWLRQ :LWK WRUVLRQ SURWHFWLRQ

3URWHFW VKDQN DJDLQVW WRUVLRQ ZKHQ WLJKWHQLQJ

7LJKWHQLQJ WRUTXHV IRU SOXJV SUHVFULEHG LQ VWDQGDUG 071 

',1  ',1  ',1 $&

7LJKWHQLQJ WRUTXHV IRU EDQMR VFUHZV DV SHU 071  VWDQGDUG

001   IORZ KROHV 1   IORZ KROHV

7LJKWHQLQJ WRUTXHV IRU EDQMR VFUHZV PDGH RI VWHHO

7LJKWHQLQJ WRUTXHV IRU EDQMR VFUHZV PDGH RI FRSSHUDOXPLQLXP DOOR\V

7LJKWHQLQJ WRUTXHV IRU PDOH FRQQHFWRU DV SHU 071  VWDQGDUG

',1  PRGHO &

'LUHFWLRQ RI URWDWLRQ DV YLHZHG IURP GULYLQJ HQG

9DOYH FOHDUDQFH HQJLQH FROG  &

9DOYH WLPLQJ YDOYH FOHDUDQFH DGMXVWHG

,                         7RS GHDG FHQWUH 7'&

)XHO LQMHFWLRQ SUHVVXUH

6HWWLQJ SUHVVXUH ZLWK QHZ VSULQJ  WR  EDU

&DP DQG YDOYH OLIW IRU FDPVKDIW DGMXVWPHQW

A 005 Hazards in Working Areas

- $OZD\V XVH FRWWRQ ZRRO RU HDU SOXJV

 5XE EDUULHU FUHDP LQWR KDQGV

2SHUDWLRQ 6FKHGXOHV &KHFN HQJLQH FRQGLWLRQ

7DVN 'HVFULSWLRQV *URXS RYHUZLHZ

$ ,PSRUWDQW ,QIRUPDWLRQ

$ 'HVLJQDWLRQ RI (QJLQH 6LGHV DQG &\OLQGHUV

$ 7RUTXH 6SHFLILFDWLRQV IRU 6FUHZV DQG 1XWV

$ +D]DUGV LQ :RUNLQJ $UHDV

$ 'DWD 6KHHWV

$ 3XEOLFDWLRQ 6XPPDU\

$ 5HSDLULQJ 7KUHDGHG %RUHV

$ .H\ZRUG ,QGH[

$ ,PSRUWDQW ,QIRUPDWLRQ

,QGH[ VKHHWV GLYLGH WKLV PDQXDO LQWR PDLQ VHFWLRQV

(DFK IXQFWLRQ JURXS )* FRQVLVWV RI QR PRUH WKDQ QLQH SDUWV

HJ & *HQHUDO YLHZ

$ 'HVLJQDWLRQ RI HQJLQH VLGHV DQG F\OLQGHUV

$ 7LJKWHQLQJ 6SHFLILFDWLRQV IRU 6FUHZV DQG 1XWV

7LJKWHQLQJ VHTXHQFH KH[ VFUHZV EHIRUH GRXEOHKH[ VFUHZV

3URWHFWLYH VOHHYH IRU LQMHFWRU 1P 1P (QJLQH RLO &

3URWHFW VKDQN DJDLQVW WRUVLRQ ZKHQ WLJKWHQLQJ

7LJKWHQLQJ WRUTXHV IRU SOXJV SUHVFULEHG LQ VWDQGDUG 071

',1 ',1 ',1 $&

7LJKWHQLQJ WRUTXHV IRU EDQMR VFUHZV DV SHU 071 VWDQGDUG

001 IORZ KROHV 1 IORZ KROHV

7LJKWHQLQJ WRUTXHV IRU EDQMR VFUHZV PDGH RI FRSSHUDOXPLQLXP DOOR\V

7LJKWHQLQJ WRUTXHV IRU PDOH FRQQHFWRU DV SHU 071 VWDQGDUG

',1 PRGHO &

9DOYH FOHDUDQFH HQJLQH FROG &

9DOYH WLPLQJ YDOYH FOHDUDQFH DGMXVWHG

, 7RS GHDG FHQWUH 7'&

6HWWLQJ SUHVVXUH ZLWK QHZ VSULQJ WR EDU

- $OZD\V XVH FRWWRQ ZRRO RU HDU SOXJV

5XE EDUULHU FUHDP LQWR KDQGV

$ 'DWD 6KHHWV

'DWD VKHHW $GRW

'DWD VKHHW $GRW

(QJLQH W\SH 1RWH

'DWH ,QVSHFWHG E\

&UDQNFDVH 1R

6SHFLILHG GLPHQVLRQ ERUH

7R PHDVXUH ,Q PHDVXULQJ GLUHFWLRQ D GLUHFWLRQ RI WUDYHO DQG E

'DWH ,QVSHFWHG E\

0HVWHOOH 0HDVXULQJ 3RLQW

$QODXIEXQG gOERKUXQJHQ HLQZDQGIUHL JHUHLQLJW XQG YHUUXQGHW

GHQ 3UIHU &KHFNHG E\ )UHLJDEH $SSURYHG E\

&UDQNFDVH 1R

&UDQNVKDIW 1R

0DLQ EHDULQJV GLD

%HDULQJ 1R $FWXDO GLPHQVLRQ

'DWH ,QVSHFWHG E\

&UDQNFDVH 1R 6SHFLILHG GLPHQVLRQV

&UDQNVKDIW 1R &RQURG EHDULQJ ERUH

5DGLDO SOD\

7R PHDVXUH 'LDPHWHU D E E

'DWH ,QVSHFWHG E\

)RU VWDUW RI GHOLYHU\ VHH HQJLQH PDVWHU FDUG

'DWH ,QVSHFWHG E\

$ &RQYHUVLRQ 7DEOHV

6SHHG 6, XQLW PV

'HQVLW\ 6, XQLW NJP

0DVV PRPHQW QG JUDGH 6, XQLW NJ P

3RZHU 6, XQLW : : -V 1PV

$ 3XEOLFDWLRQ 6XPPDU\

2WKHU DSSOLFDEOH &XVWRPHU 6HUYLFH GRFXPHQWV

$ 5HSDLULQJ 7KUHDGHG %RUHV ZLWK 7KUHDGHG ,QVHUWV +HOL&RLO

7KUHDG &RUH KROH ERUHGLD PD[PLQ 7ZLVW GULOO GLD

,QVHUW WKUHDG LQVHUW LQWR VSLQGOH LQ LQVWDOODWLRQ

$ .H\ZRUG ,QGH[

&UDQNFDVH DQG H[WHUQDOO\ PRXQWHG FRPSRQHQWV &

%HDULQJ EXVK FDPVKDIW &

& (QJLQH DVVHPEO\ %

&DPVKDIW & (QJLQH FDUULHU &

&DPVKDIW JHDU & (QJLQH FRRODQW SXPS &

&KHFN WLPLQJ RI FDPVKDIW & (QJLQH GLVDVVHPEO\ %

&KHFNLQJ FDPVKDIW WLPLQJ & (QJLQH GUDZLQJV %

&RQURG EHDULQJ VKHOO & (QJLQH LQVWDOODWLRQ %

&RQYHUVLRQ WDEOHV $ (QJLQH LQVWDOODWLRQ DQG RSHUDWLRQ %

&RRODQW GLVWULEXWRU KRXVLQJ & (QJLQH OD\RXW %