First, the first article "In order to establish a risk to net capital as the core control index system, strengthen risk supervision of securities companies, securities firms urged to strengthen internal controls, risk prevention," was changed to "in order to establish the net capital and liquidity core risk control index system, strengthen risk supervision of securities companies, securities firms urged to strengthen internal controls, improve risk management, risk prevention. "

Second, the second amended as follows: "Securities companies shall, in accordance with the relevant provisions of China Securities Regulatory Commission (hereinafter referred to as the China Securities Regulatory Commission), following the prudence, substance over form principle, to calculate the net capital, the risk of risk coverage capital leverage ratio, liquidity coverage ratio and net stable funding ratio control indexes compiled net capital calculation sheet, risk capital reserve calculation table, table calculation sheet total internal and external assets, liquidity coverage ratio calculation table, net stable funding ratio calculation sheet, risk control index calculation table and other regulatory reports (hereinafter referred to as risk control indicator surveillance statements) "

third, the third amended as follows:." China Securities regulatory Commission according to market developments and prudential regulations of the standards and risk control indicators calculated for dynamic adjustment; before adjustment, shall solicit the views of industry, and to make transitional arrangements for the implementation of adjustment items

"for unspecified risks. new standards and control indicators computational requirements, new business, securities companies before investing in the product or the development of the business, should advance to the China Securities Regulatory Commission, the Registrar of companies of the China Securities Regulatory Commission agency (hereinafter referred to as the agency) report in accordance with the provisions of or approval. China Securities Regulatory Commission pursuant to the Securities Company's new products, features and new business risk profile, in consultation with the industry to determine the views of the appropriate criteria and risk control indicators calculated on the basis of the requirements. "

Four, the fourth" different categories of risk criteria and indicators of the company's control of a business risk capital reserve calculation ratio appropriate adjustments, "was changed to" for different categories of company's risk control venture capital index calculation criteria and requirements, as well as the preparation of a business to calculate the proportion of dynamic adjustment. "

Fifth, the fifth article" requires securities companies securities-related business has hired accounting firm qualified for their monthly risk control indicator surveillance statements audit "was changed to" the requirements of the securities company has hired securities , accounting firms and futures-related business qualification of its risk control indicator surveillance statements audited. "

six, fifth, Article VII, Article VIII, Article 26, Article seven, Article 29, Article 32, Article 33 of the "net capital calculation sheet, risk capital reserve calculation sheets and risk control indicator surveillance statements", revised to "risk control indicator surveillance statements" .

seven, added as Article VI: "Securities companies shall establish in line with their own development strategies require a comprehensive risk management system in accordance with the relevant provisions of China Securities Regulatory Commission. Securities companies shall, mutatis mutandis, all subsidiaries and affiliate management of all types of Sun Company into the overall risk management system, strengthen risk management, branch, risk management to achieve full coverage. Comprehensive risk management system should include operational management system, a sound organizational structure, reliable information technology systems, quantitative risk index system, professional personnel, effective risk response mechanisms.

"Securities company shall appoint a person with risk management professional background, work experience, senior management personnel to perform their duties as Chief Risk Officer to be responsible for overall risk management."

eight, will be changed to Article VII, the first paragraph, "make up the mechanism" to "make up the mechanism of capital."

The second paragraph is amended: "Securities companies shall take place before significant business issues and distribute profits to risk control indicators stress test to determine the maximum reasonable size of the business and the distribution of profits."
| || the third paragraph is amended: "Securities companies shall establish a sound mechanism for stress testing, timely according to changing market conditions and regulatory requirements, the company's risk control indicators of stress tests."

added as fourth paragraph: "stress tests showed that the risk of exceeding the company's own securities carrying capacity, the securities company shall take measures to control or reduce the scale of business risk."

IX, Article 7 shall be changed to Article VIII, amended: "Securities companies shall engage in securities, futures-related business accounting firm qualified its annual risk control indicator surveillance statements audited."

ten, will be changed to Article VIII Article IX, modify : "the CPA and the CPA should diligence, the securities company's net capital computations and risk capital reserve calculation sheet and risk control for the authenticity, accuracy and completeness of the audit report of the regulatory indicators, and delivered appropriate audit observations "

XI, the IX becomes Article 10 and revised as follows:" securities company's net core capital by the net capital and net capital formation in which the subsidiary:.

"core net capital = net assets - risk-adjusted assets items - or risk adjustment liabilities - / + China Securities Regulatory Commission recognized or approved by the other adjustments.

"Subsidiary net long-term capital = subordinated × predetermined ratio - / + China Securities Regulatory Commission recognized or approved by the other adjustments"

XII, Article 11 is changed to the first twelve, the second paragraph of the "China Securities Regulatory Commission and its agencies may require the company to extract supplement impairment of assets and subtract the corresponding amount of net capital" was changed to "China Securities Regulatory Commission and its agencies may order the rectification of the company and hold relevant personnel responsibility. "

Thirteen, the 11 and article 17 of the "net capital" was changed to "core net capital."

XIV, by deleting Article 12, 13, 14, 15.

XV Article XVI will be changed into Article 13 and revised as follows: "According to the company the securities company shall have a period or the nature of matter (such as pending litigation or arbitration, and guarantees provided, etc. ), the amounts involved, the causes and progress of the possible loss and expected loss corresponding accounting treatment for it may lead to outflow of economic benefits or matters, it should be recognized as estimated liabilities; for estimated liabilities are not recognized but still possible outflow of economic benefits or company matters, in the calculation of net core capital, should be treated as liabilities, they are reduced in accordance with a certain proportion of net capital, and the notes are disclosed in net capital calculation table "
. | || XVI Article 18 shall be changed to Article 15 is amended: "Securities borrowed to shareholders or institutional investors or issue of subordinated debt, in accordance with a certain percentage of the subsidiary recognized in net capital or reduced risk capital reserve specified separately formulated by the China Securities Regulatory Commission "

XVII will changed into Article 20 Article 17 is amended:" Securities companies must continue to comply with the following standards of risk control indicators:.. | ||
"(a) the risk coverage of not less than 100%;

" (b) The capital leverage ratio shall not be less than 8%;

"(iii) the liquidity coverage rate of not less than 100%;

"(iv) net stable funding ratio of not less than 100%;

" wherein:

"risk coverage = net capital / the preparation and the venture capital × 100%;

"core capital leverage ratio = net capital / total assets inside and outside table × 100%;

" liquidity coverage ratio = high-quality liquid assets / the next 30 days net cash outflows × 100%;

"net stable funding ratio = stable funding available / required stable funding × 100%. "

Eighteenth and twenty-one will be changed to Article 18 is amended:" Securities companies shall, according to China Securities Regulatory Commission Securities risk capital reserve calculation standard calculation of market risk, credit risk, operational risk capital reserve. China Securities Regulatory Commission according to the risk characteristics of a particular product or service, as well as supervision and inspection results, requires securities companies to calculate the specific risk capital reserve.

"Market risk capital reserve in accordance with the various types of financial instruments, market risk characteristics of different investment calculated by multiplying the risk factor; credit risk capital to prepare different degree of credit risk in accordance with tables inside and outside the project, multiplied by asset size risk coefficient calculation; operational risk capital reserve calculated in accordance with a certain percentage of the revenue

"securities companies can take risk measurement and other advanced internal models approach calculated risk capital reserve, specified separately by the China Securities Regulatory Commission. making. "

Nine, the Article 22, Article 23 of the merger to Article 19 is amended:" Securities companies operating securities proprietary business, to provide financing or trading services It shall comply with the China Securities Regulatory Commission standards for risk control indicators of this business. "

XX, the Article 27 to Article 23, the second paragraph of the" main person responsible for the management of securities companies, financial officer of the company shall monthly risk control indicators reports confirm the signing of regulatory advice "was changed to" the main person in charge of the securities company's management, chief risk officer, chief financial officer of the company shall monthly risk control indicator surveillance statements confirm the signing of opinion. "

XXI the Article 28 to Article 24, "after the securities firm at least every six months should be confirmed by the signing of the main person responsible" in the first paragraph is amended as "securities company shall, at least every six months by the person in charge, chief risk officer after the signing of confirmation. "

the second paragraph of the" index compared with the previous month occurred more than 30% change, "was changed to" index compared with the previous month occurred more than 20% adverse change " .

XXII deleting Article 28, Article 30, Article 31 of the "writing."

xxiii, the Article 30 to Article 26 is amended: "Securities companies net capital and other risk control indicators compared with the previous month adverse changes in more than 20%, should be three working days from the date of the case, to China CSRC and its agencies a written report on the situation and the basic reasons for the changes. "

XXIV the fifth chapter name was changed to" the supervision and management. "

XXV, the Article 32 to Article 28, the first shall be amended as follows: "financial accounting reports securities company risk control indicator surveillance statements by the CPA issued qualified opinion with emphasis of matter paragraph or other matter paragraph unqualified, securities companies should be involved in special statement on the matter. "

XXVI, deleting Article 34

xxvii, added as Article 30:." The company is not in accordance with the securities regulatory authorities submitted as required Risk Control indicator surveillance statements free of material misstatement, or risk control indicator surveillance statements, omissions and false filing, the China Securities regulatory Commission and its agencies may take under the circumstances issued a letter of warning, ordered to make corrections, monitor conversations, and ordered sanctions personnel and other regulatory related measures. "

Xxviii, Article 37 will be changed to Article 33, added as a new paragraph (g) of the" China Securities Regulatory Commission and its agencies deemed necessary to take other measures. "

XXIX Article 40 will be changed to Article 36 and revised as follows:" the meaning of the following terms:

"(a) risk capital reserve : refers to securities companies to carry out the business and other processes, due to market risk, credit risk, operational risk and other unexpected losses that may arise require capital securities company shall calculate the risk capital reserve according to certain standards and establish correspondence with the net capital relationship to ensure that risk capital reserve has a corresponding net capital support

"(b) liabilities: refers to external liabilities, excluding proxy trading securities, credit transactions proxy trading securities, agency underwriting securities.

"(C) Assets: refers to own assets, excluding assets

customers." (Iv) Contingent liabilities: possible obligation that arises from past transactions or events and whose existence shall by the occurrence of uncertain future events do not occur or be confirmed; the existing amount of the obligation or past transactions or events, the performance of the obligation is not likely to lead to outflow of economic benefits or the obligation can not be measured reliably.

"(E) Table total assets inside and outside: a balance sheet of the inner and outer table of the balance of the project and"

this decision shall become effective October 1, 2016.

"Securities Risk Control Indicators Management Measures" be revised in accordance with this decision and re-promulgated.



Securities company risk control indicators management approach

(China Securities Regulatory Commission Chairman of the 185 Office meeting July 5, 2006 through June 2008, according to "decision on Revising <Securities risk control index 'Administrative Measures," "decision on Revising <Securities risk control index' Administrative Measures" 24 China Securities Regulatory Commission, June 16, 2016 China Securities Regulatory Commission amended )



General Provisions Article 1 in order to establish the net capital and liquidity risk control as the core indicator system, strengthen risk supervision of securities companies, securities firms urged to strengthen internal controls, improve risk management, risk prevention, according to the "Securities Act" and other relevant laws and administrative regulations, development of this approach.

Article securities company shall, in accordance with the relevant provisions of the China Securities Regulatory Commission (hereinafter referred to as the China Securities Regulatory Commission), following the prudence, the principle of substance over form, calculate the net capital, risk coverage and capital leverage ratio , the risk of liquidity coverage ratio and net stable funding ratio control indexes compiled net capital calculation sheet, risk capital reserve calculation table, table calculation sheet total internal and external assets, liquidity coverage ratio calculation table, the net stable funding ratio calculation table, risk control indicators calculated tables and other regulatory reports (hereinafter referred to as risk control indicator surveillance statements).

Article China Securities Regulatory Commission according to market development and prudential regulations of the standards and risk control indicators calculated for dynamic adjustment; before adjustment, shall solicit the views of industry, and for the adjustment of the matter transitional arrangements implemented.

Risk control does not provide for new product standards and indicators computational requirements, new business, securities companies before investing in the product or the development of the business, should be registered in advance to the China Securities Regulatory Commission, the company in accordance with the provisions of China Securities and Futures Commission will the agency (hereinafter referred to as the agency) report or approval. China Securities Regulatory Commission pursuant to the Securities Company's new products, features and new business risk profile, in consultation with the industry to determine the views of the appropriate criteria and risk control indicators calculated on the basis of the requirements.

Article China Securities Regulatory Commission may be classified according to regulatory principles, according to the securities company's governance structure, internal control and risk control, risk control indicators of different categories of company standards and computational requirements, as well as of a business risk capital reserve calculation ratio adjusted dynamically.


Article China Securities Regulatory Commission and its agencies shall the securities company's net capital and other risk control indicator data generation process and the results of the authenticity, accuracy and completeness of regular or irregular inspections.

China Securities Regulatory Commission and its agencies may require in accordance with the regulatory requirements of securities company hired securities and futures-related business accounting firm qualified its risk control indicator surveillance statements audited.

Article securities company shall establish in line with their own development strategies require a comprehensive risk management system in accordance with the relevant provisions of China Securities Regulatory Commission. Securities companies shall, mutatis mutandis, all subsidiaries and affiliate management of all types of Sun Company into the overall risk management system, strengthen risk management, branch, risk management to achieve full coverage. Comprehensive risk management system should include operational management system, a sound organizational structure, reliable information technology systems, quantitative risk index system, professional personnel, effective risk response mechanisms.

Securities company shall appoint a person with risk management professional background, work experience, senior management personnel to perform their duties as Chief Risk Officer to be responsible for overall risk management.

Article securities company shall, according to their own balance sheets and business development, the establishment of a dynamic risk control indicators for monitoring and capital to make up mechanisms to ensure that the net capital and other risk control indicators at any point in time meets the required standards .

Former securities company shall allocate significant business issues and profits in the event of risk control indicators of stress tests to determine the maximum reasonable size of the business and the distribution of profits.

Securities companies shall establish a sound mechanism for stress testing, in a timely manner in accordance with changing market conditions and regulatory requirements, the company's risk control indicators of stress tests.

Stress test results show that the risk of exceeding the carrying capacity of their own securities company, the securities company shall take measures to control or reduce the scale of business risk.

Article VIII securities company shall engage in securities and futures-related business accounting firm qualified its annual risk control indicator surveillance statements audited.

IX CPAs and CPA should diligence, securities companies risk control indicator surveillance statements of authenticity, accuracy and completeness of the audit and issued appropriate audit opinion.

Chapter II and net capital calculation

Article X of the core capital securities net net net capital and supplementary capital formation. Wherein:

core net capital = net assets - risk-adjusted assets items - or risk adjustment liabilities - / + China Securities Regulatory Commission finds that approval of the project or other adjustments.

Subsidiary net long-term capital = subordinated × predetermined ratio - / + China Securities Regulatory Commission recognized or approved by the other adjustments. Net capital calculation standard of securities companies

Article XI securities company shall, according to China Securities Regulatory Commission to calculate the net capital. When

Article XII core computing net capital of securities companies should be fully in accordance with the provisions of the related item provision for asset impairment.

China Securities Regulatory Commission and its agencies may require the company to explain the special asset impairment extract sufficient rationality. There is evidence that the company did not adequately provision for asset impairment, the China Securities Regulatory Commission and its agencies may order the rectification of the company and hold relevant personnel responsibility.

Article 13 A securities company shall, according to the company or the end of the nature of matter (such as pending litigation or arbitration, and guarantees provided, etc.), the amounts involved, the causes and progress, possible loss and make the appropriate accounting treatment of expected loss. For very likely lead to outflow of economic benefits or matters, should be recognized as estimated liabilities; for unacknowledged estimated liabilities, but may lead to outflow of economic benefits or matters, in the calculation of core net capital, it should be treated as contingent liabilities to be deducted in accordance with a certain percentage of the net capital, net capital calculation and disclosure in the table notes.

Article 14 A securities company holding securities issued by a subsidiary undertaking guarantee commitments, net core capital shall deduct a certain percentage of the amount of the guarantee commitment. In the China Securities Regulatory Commission approved a subsidiary of securities underwriting and sponsorship, securities and asset management services provided by the parent company and other guarantees may be included in the core commitments in accordance with a certain percentage of net capital.

Article XV borrowed securities company to shareholders or institutional investors or issue of subordinated debt, net capital subsidiary may be included or deducted in accordance with a certain percentage of risk capital reserve. Specific provisions shall be formulated by the China Securities Regulatory Commission. Chapter III



risk control indicators Standard Article XVI securities company securities brokerage business, its net capital shall not be less than 20 million yuan.

Securities company securities underwriting and sponsorship, its net capital securities proprietary trading, portfolio management, securities business and other business other one of not less than 50 million yuan.

Securities company securities brokerage business, while operating securities underwriting and sponsorship, securities self, asset management, securities business and other business other one, the net capital shall not be less than 100 million yuan.

Securities company securities underwriting and sponsorship, securities self, asset management, securities business in the other two and two or more of its net capital shall not be less than 200 million yuan.

Article XVII securities company must continue to comply with the following standards of risk control indicators:

(a) the risk coverage of not less than 100%;

(ii) capital leverage the rate of not less than 8%;

(iii) the liquidity coverage ratio of not less than 100%;

(iv) net stable funding ratio of not less than 100%;
|| | of which:

risk coverage = net capital / risk capital reserve of the sum × 100%;

core capital leverage ratio = net capital / total assets inside and outside table × 100%; | ||
high liquidity coverage ratio = current assets / the next 30 days net cash outflows × 100%;

net stable funding ratio = stable funding available / required stable funding × 100%. Securities company's risk capital

Article XVIII securities company shall, according to China Securities Regulatory Commission to prepare calculation standard calculation of market risk, credit risk, operational risk capital reserve. China Securities Regulatory Commission according to the risk characteristics of a particular product or service, as well as supervision and inspection results, requires securities companies to calculate the specific risk capital reserve.

Market risk capital reserve in accordance with the various types of financial instruments, market risk characteristics of different investment calculated by multiplying the risk factor; credit risk capital to prepare different degree of credit risk in accordance with tables inside and outside the project, multiplied by asset size risk coefficient calculation; operational risk capital reserve calculated in accordance with a certain percentage of the revenue.

Securities companies can take risk measurement and other advanced internal models approach calculated risk capital reserve, specified separately formulated by the China Securities Regulatory Commission.

Article XIX securities company securities proprietary business, to provide financing or trading service, shall comply with China Securities Regulatory Commission for the business risk control index standards.

Diershitiao securities companies can combine their actual situation, on the basis of not less than China Securities Regulatory Commission standards, based on indicators to determine the appropriate risk control standards.

Article XXI of the China Securities Regulatory Commission to set up early warning indicators of risk control standards, risk provisions for "not less than" a certain level of control targets, its early warning criteria is 120% of the required standards; provisions for "shall not exceed" a certain level of risk control indicators, its early warning standards prescribed standard of 80%. Chapter IV



preparation and disclosure Article 22 securities companies with subsidiaries to the parent company should be based on data, preparation of risk control indicator surveillance statements.

China Securities Regulatory Commission and its agencies may require in accordance with the regulatory requirements of securities companies to merge data as the basis of risk control indicator surveillance statements. Director

Article 23 securities companies, senior management of the company should be semi-annual, annual risk control indicator surveillance statements signed confirmation comments.

Main person responsible for the management of securities companies, the chief risk officer, chief financial officer of the company shall monthly risk control indicator surveillance statements signed confirmation comments. In the securities company risk control indicator surveillance statements signed by the officer, shall ensure that risk control indicator surveillance statements true, accurate, complete, not false records, misleading statements and material omissions; risk control indicator surveillance statements Content dissent, shall indicate their views on the report and grounds. After

Article 24 A securities company shall be confirmed by at least every six months to sign the main person in charge, the chief risk officer, the company all the directors to report a net capital and other risk control indicators specific circumstances and Status; securities the company shall, at least every six months by the board and signed by reporting a net capital and other risk control indicators specific circumstances and Status to all shareholders, and get at least acknowledgment of receipt major shareholder documents.

Net capital indicators compared with the previous month occurred more than 20% adverse change or does not comply with standards, securities companies should report all the directors in the company within five working days, within 10 working days of all shareholders reports.

Article 25 A securities company shall within 7 working days from the date of the end of each month, submit monthly risk control indicator surveillance statements to the China Securities Regulatory Commission and its agencies.

Agency can require regulatory requirements within the jurisdiction of a single part or all of the securities in a certain stage of weekly or daily prepared and submitted to the risk control indicator surveillance statements.

Article 26 The securities company's net capital and other risk control indicators compared with the previous month adverse changes in more than 20%, should be three working days from the date of that event occurred, the China Securities and Futures Commission and its agencies will report on the situation and the basic reasons for the changes.

Article 27 The securities company's net capital and other risk control indicators have reached the warning standards or do not meet the required standards, it shall respectively on the date of the case from the three, a working day, to China CSRC and its agencies report on the basic situation, causes problems and problem-solving concrete measures and deadlines. Financial Report



Chapter V Supervision and Administration Article 28 The securities company risk control indicator surveillance statements by the CPA issued qualified opinion with emphasis of matter paragraph or other matter paragraph unqualified, securities companies should be involved in special statement on the matter.

Matters involving accounting standards do not belong to a clear violation of the relevant provisions of the securities company's net capital calculation rules, the China Securities Regulatory Commission and its agencies may require the securities company described the effect on the company's net capital and other risk control indicators .

Relates to matters within clear violation of accounting standards, the relevant provisions of the securities company's net capital calculation rules, China Securities Regulatory Commission and its agencies may require the securities company a deadline to correct, re-establishment of risk control indicator surveillance statements; securities firms did not deadline for corrective action, the China Securities Regulatory Commission and its agencies can be sure that their net capital and other risk control indicators below the required standards. Financial Report

Article 29 securities companies, risk control indicator surveillance statements issued by the CPA can not express an opinion or an adverse opinion, the China Securities Regulatory Commission and its agencies can be sure that their net capital and other risk control indicator below the required standards.

Article 30 securities companies have not submitted as required by regulatory authorities in accordance with risk control indicator surveillance statements or risk control indicator surveillance statements free of material misstatement, omission and false filing, the China Securities Regulatory Commission and its dispatched institutions may take under the circumstances issued a letter of warning, ordered to make corrections, monitor conversations, and ordered sanctions personnel and other relevant regulatory measures.

Article 31 The securities company's net capital or other risk control indicators do not meet the required standards, the agency shall order the company to make corrections, to develop and submit the corrective action plan in five days, the longest period of rectification no more than 20 working days; the securities company fails to submit corrective action plans, the agency shall immediately restrict their business activities.

Rectification period, the China Securities Regulatory Commission and its agencies should distinguish between circumstances, take the following measures against the securities firm:

(a) stop approving new businesses;

(two ) stop approving the establishment, acquisition of business branches;

(iii) limit distribution of dividends;

(iv) restrictions on the transfer of property or other rights set on the property.

Article 32 securities companies after rectification, acceptance by the agency in line with the relevant risk control indicators, China Securities Regulatory Commission and its agencies shall from the date of inspection is completed within three working days to lift its take the relevant measures.

Article 33 The securities company fails to complete the rectification, since the next day rectification period expired since the agency should distinguish between circumstances, it take the following measures:

(a) limit operational activities;

(ii) ordered to suspend part of the business;

(c) limit remuneration to directors, supervisors and senior management, providing benefits;

(four ) order the replacement of directors, supervisors and senior management personnel or restrict their rights;

(e) order the controlling shareholder of the transfer of ownership or restrictions on the exercise of shareholder rights of shareholders;

(vi) finds that the directors, supervisors and senior management as an inappropriate candidate;

(vii) China Securities Regulatory Commission and its agencies deemed necessary to take other measures.

Article 34 The securities company fails to complete the rectification, risk control indicators continue to deteriorate seriously endanger the sound operation of securities companies, the China Securities Regulatory Commission may revoke the business license.

Article 35 The securities company risk control indicators not compliance, serious harm to the stock market order, impair the interests of investors, the China Securities Regulatory Commission can be distinguished from the case, take the following measures:

(a) be ordered to suspend business for rectification;

(b) designate other bodies custody, takeover;

(iii) securities business license revoked;

(iv) revocation.



Chapter VI Supplementary Measures The following terms Article 36:

(a) risk capital reserve: refers to securities companies to carry out the business and so on process, due to market risk, credit risk, operational risk and other unexpected losses that may arise needed capital. Securities companies shall be calculated in accordance with certain standards of risk capital to prepare and establish correspondence relations with net capital, risk capital reserve to ensure there is a corresponding net capital support.


(Ii) liabilities: Foreign liabilities, excluding proxy trading securities, credit transactions proxy trading securities, agency underwriting securities.

(C) Assets: refers to own assets, excluding customer assets.

(Iv) Contingent liabilities: possible obligation that arises from past transactions or events and whose existence must be confirmed by uncertain future events occur or do not occur; or a present obligation from a past transaction or event the amount to settle the obligation is not likely to lead to outflow of economic benefits or the obligation can not be measured reliably.

(E) Table total internal and external assets: Assets Balance sheet items within the balance sheet and the and.

Article 37 These Measures shall go into effect November 1, 2006.