Reference Translation

Re: Prescribing Terms and Conditions of Claims and Obligations Arising as a Result of Transfer
under the Provisions of Articles 58-5 and 58-7 of the Interest Rate Swap Clearing Business Rules
April 6, 2018
Japan Securities Clearing Corporation
In accordance with the provisions of Article 35-4-3 of Handling Procedures of Interest Rate Swap
Business Rules, JSCC prescribes the terms and conditions of the claims and obligations arising as aresult of a Transfer as per Appendix.

DISCLAIMER: This is the reference translation of the original Japanese document. Japan Securities Clearing
Corporation shall accept no responsibility or liability for damage or loss caused by any error, inaccuracy, ormisunderstanding with regard to this translation. This document may not be reproduced or redistributed in whole orin part without the permission of Japan Securities Clearing Corporation.

Reference Translation

Appendix1.

Definitions
The terms used in this Appendix shall be as defined in the Interest Rate Swap Clearing Business
Rules established by Japan Securities Clearing Corporation (hereinafter referred to as “JSCC”),
the terms used in the Business Rules, etc.

2.

Terms and Conditions of Claims and Obligations Arising as a Result of Transfer(1) Terms and Conditions of Claims and Obligations relating to Cleared Contract that Comes intoEffect (Articles 58-5.4 and 58-5.6 of Interest Rate Swap Clearing Business Rules)
The terms and conditions of the claims and obligations relating to the Proprietary Cleared
Contract between the Receiving Clearing Participant and JSCC (or, when Transferring aClearing Brokerage Contract to a Receiving Customer whose Clearing Broker is not the sameas the Clearing Broker for the Transferring Customer, the Customer’s Cleared Contract between
the Clearing Broker for the Receiving Customer and JSCC) that comes into effect as a result ofa Transfer shall be the same as the claims and obligations relating to the Customer’s Cleared
Contract terminating between the Clearing Broker for the Transferring Customer and JSCC,
except for the following:
Fixed Rate Payer in the claims and obligations
relating to the Customer’s Cleared Contract
terminating between the Clearing Broker for theTransferring Customer and JSCC (or, if such
Fixed Rate Payer is the Clearing Broker for theTransferring Customer, then the Receiving
Clearing Participant (or, when Transferring a

Fixed Rate Payer

Clearing Brokerage Contract to a Receiving
Customer whose Clearing Broker is not the sameas the Clearing Broker for the Transferring
Customer, the Clearing Broker for the ReceivingCustomer)) (only when either the Clearing
Broker for the Transferring Customer or JSCC isthe Fixed Rate Payer).
1

DISCLAIMER: This is the reference translation of the original Japanese document. Japan Securities Clearing
Corporation shall accept no responsibility or liability for damage or loss caused by any error, inaccuracy, ormisunderstanding with regard to this translation. This document may not be reproduced or redistributed in whole orin part without the permission of Japan Securities Clearing Corporation.

Reference Translation

FloatingRatePayer

intheclaimsandobligations relating to the Customer’s Cleared
Contract terminating between the Clearing
Broker for the Transferring Customer and JSCC
(or, if such Floating Rate Payer is the ClearingBroker for the Transferring Customer, then theFloating Rate Payer

Receiving

Clearing

Participant(or,whenTransferring a Clearing Brokerage Contract to aReceiving Customer whose Clearing Broker isnot the same as the Clearing Broker for theTransferring Customer, the Clearing Broker forthe Receiving Customer)).
The obligor of the upfront fee payment in theclaims and obligations relating to the Customer’s
Cleared Contract terminating between theClearing Broker for the Transferring Customer
and JSCC (or, if such obligor is the ClearingBroker for the Transferring Customer, then theObligor of Upfront Fee Payment

Receiving

Clearing

Participant(or,whenTransferring a Clearing Brokerage Contract to aReceiving Customer whose Clearing Broker isnot the same as the Clearing Broker for theTransferring Customer, the Clearing Broker forthe Receiving Customer)).

(2) Terms and Conditions of Claims and Obligations relating to Customer’s Cleared Contract that
Comes into Effect (Article 58-7.4 of Interest Rate Swap Clearing Business Rules)
The terms and conditions of the claims and obligations relating to the Customer’s Cleared
Contract between the Clearing Broker for the Receiving Customer and JSCC that comes intoeffect as a result of a Transfer shall be the same as the claims and obligations relating to theProprietary Cleared Contract terminating between Transferring Clearing Participant and JSCC,except for the following:

2DISCLAIMER: This is the reference translation of the original Japanese document. Japan Securities Clearing
Corporation shall accept no responsibility or liability for damage or loss caused by any error, inaccuracy, or
misunderstanding with regard to this translation. This document may not be reproduced or redistributed in whole orin part without the permission of Japan Securities Clearing Corporation.

Reference Translation

Fixed Rate Payer in the claims and obligations
relating to the Proprietary Cleared Contract
terminating between the Transferring Clearing
Participant and JSCC (or, if such Fixed Rate
Fixed Rate Payer

Payer is the Transferring Clearing Participant,then the Clearing Broker for the ReceivingCustomer) (only when either the Transferring
Clearing Participant or JSCC is the Fixed RatePayer).
FloatingRatePayer

intheclaims

andobligations relating to the Proprietary Cleared
Contract terminating between the Transferring
Floating Rate Payer

Clearing Participant and JSCC (or, if such
Floating Rate Payer is the Transferring Clearing
Participant, then the Clearing Broker for theReceiving Customer).
The obligor of the upfront fee payment in theclaims and obligations relating to the Proprietary
Cleared Contract terminating between theObligor of Upfront Fee Payment

Transferring Clearing Participant and JSCC (or,if such obligor is the Transferring Clearing
Participant, then the Clearing Broker for theReceiving Customer)).

3
DISCLAIMER: This is the reference translation of the original Japanese document. Japan Securities Clearing
Corporation shall accept no responsibility or liability for damage or loss caused by any error, inaccuracy, or
misunderstanding with regard to this translation. This document may not be reproduced or redistributed in whole orin part without the permission of Japan Securities Clearing Corporation.