Collateral

The deposit of collateral in the Clearinghouse must be in cash, substitutable by the following securities/instruments at the exclusive discretion of the Clearinghouse.

 The list of securities acceptable in substitution of currency is:

(i) Federal government bonds traded in Brazil (federal government bonds);

(ii) Shares of a stock issued by a publicly-traded company listed on B3;

(iii) Certificates of deposit of shares of a stock (units) issued by a publicly-traded company listed on B3;

(iv) American Depositary Receipts (ADRs) representing stocks eligible to be accepted as collateral;

(v) Brazilian Depositary Receipts (BDRs) representing equity assets traded abroad or Exchange Traded Funds (ETFs) with a reference index composed of fixed-income and equity assets traded abroad;

(vi) Fixed-income securities issued by guarantee issuing banks:

      (a) Bank certificates of deposit (CDs);

      (b) Real Estate Letters of Credit (LCIs); and

      (c) Agribusiness Letters of Credit (LCAs);

(vii) United States dollars;

(viii) Euro

(ix) US Treasury bonds;

(x) German Treasury bonds;

(xi) French Treasury bonds - OATs with maturity date between 1 and 10 years;

(xii) Dutch Treasury bonds - DSLs with maturity date between 1 and 10 years;

(xiii) Canadian Treasury bonds;

(xiv) Mexican Treasury bonds;

(xv) Bank letters of credit (LCs);

(xvi) Exchange-traded fund (ETF) shares traded in Brazil;

(xvii) Shares of the investment fund B3 Margem Garantia Renda Fixa Referenciado DI Fundo de Investimento em Cotas de Fundos de Investimento (FIC);

(xviii) Investment Fund Clearinghouse Liquidity (FILCB) shares;

(xix) Debentures;

(xx)  Shares of publicly traded company admitted for trading abroad (shares traded overseas).

Brazilian Federal Government Bonds and International Sovereign Bonds

For collateral posting, the participant must request B3, by sending an email to [email protected], the registration of the instrument intended to be posted as collateral, should such instrument not be previously registered in the list disclosed below, in accordance with the eligibility criteria, limits and parameters set forth in the B3 Clearinghouse Risk Management Manual.

 

In the case of international sovereign securities:

Issuer	Pre-registered bonds	Registration upon request, subject to prior review
United States Treasury	Treasury Bill, Treasury Bond and Treasury Note* with duration of up to 5 years *Except Bond Strip and Note Strip	Strip (including Bond Strip and Note Strip) Treasury Inflation Bonds with a duration longer than 5 years
German Treasury	Germany Bund 30Y	Germany Bobl 05Y Germany Bund 07Y Germany Bund 10Y Germany Bund 15Y Germany Bund 30Y Germany Bund Coupon Strip 20Y Germany Bund Principal Strip 30Y Germany Schatz 02Y
French Treasury	France OAT 15Y	France OAT 10Y France OAT 30Y France OAT Medium-Term
Dutch Treasury	-	Netherlands Bond 10Y Netherlands Bond 20Y Netherlands Bond 30Y Netherlands Bond 7Y
Canadian Treasury	-	Canada Bond 05Y Canada Bond 10Y Canada Bond 02Y Canada Bond 07Y Canada Bills 01Y
Mexican Treasury	-	Mexican Bonos 20Y Mexican Bonos 03Y Mexican Bonos 05Y Mexican Bonos 10Y Mexican Cetes 02Y Mexican Cetes 01Y