CSRC: The net assets of the securities settlement risk fund shall not be less than 3 billion yuan, and settlement institutions shall regularly conduct dynamic evaluations and demonstrate the required scale.

According to the Finance and Economics App, on November 7th, the China Securities Regulatory Commission issued Announcement No. 20, announcing the "Management Measures for Securities Clearing Risk Fund", which will be implemented starting from December 8, 2025. The Measures state that the securities clearing risk fund (hereinafter referred to as "the Fund") refers to a special fund established to compensate for losses incurred by the securities registration and clearing institution due to default settlement, technical failures, operational errors, or force majeure. The Measures specify that the net assets of the Fund shall not be less than thirty billion yuan. Securities registration and clearing institutions should regularly and dynamically assess and demonstrate the required scale of the Fund based on market development and risk control needs, and report to the China Securities Regulatory Commission and the Ministry of Finance. The China Securities Regulatory Commission, together with the Ministry of Finance, can appropriately adjust the scale of the Fund, the methods of fund extraction and payment, the ratio, etc. according to market risk conditions.