Where:
Subscripts 1 and 2 denote the clearing members with the two largest ANet values. For purposes of this paragraph (d), for derivatives ANet is defined in § 1240.36(b)(2)(ii) and for repo-style transactions, ANet means the exposure amount as defined in § 1240.39(c)(2) using the methodology in § 1240.39(c)(3) ;
DFl = average
DFl = the average funded default fund contribution from an individual clearing member;
DFl = [SIGMA]iDF I -2 ·
DFl (that is, the funded default fund contribution from surviving clearing members assuming that two average clearing members have defaulted and their default fund contributions and initial margins have been used to absorb the resulting losses);
DFl (that is, the total funded default fund contributions from the QCCP and the surviving clearing members that are available to mutualize losses, assuming that two average clearing members have defaulted);
(that is, a decreasing capital factor, between 1.6 percent and 0.16 percent, applied to the excess funded default funds provided by clearing members);
Where:
Where:
RWADF = Min {12.5 * DF; 0.18 * TE}
Where:
12 C.F.R. §1240.37