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Dear Sir or Madam,
The Spring Festival of 2016 is drawing near, and the Bank will adjust the margin ratio, limit up and limit down for the precious metal agency business during the Spring Festival holiday, pursuant to the Notice on Market Risk Control during the Spring Festival Holiday of 2016 issued by Shanghai Gold Exchange. Notified below are the details:
I. As of the clearing time point after the closing on February 4, 2016 (Thursday), the Bank will adjust the margin ratio for the Au (T+D), Au (T+N1), Au (T+N2) and mAu (T+D) contracts from 12% to 16% respectively, and adjust the limit-up and limit-down band from 6% to 9% as of next trading day. The Bank will also adjust the margin ratio for the Ag (T+D) from 14% to 18%, and adjust the limit-up and limit-down band from 8% to 11% as of next trading day.
If a one-side market appears on February 4, and the aforesaid standards are lower than the margin ratios, limit-up bands and limit-down bands adjusted in line with relevant provisions of the Risk Control Measures of Shanghai Gold Exchange, the higher standards will prevail.
II. After trading resumption on February 15, 2016 (Monday), the Bank will resume the margin ratios for Au (T+D), Au (T+N1), Au (T+N2) and mAu (T+D) to 12% as of the closing clearing on the first trading day without a one-sided market, and resume the limit-up and limit-down band to 6% as of next trading day. For the Ag (T+D) contract, we will resume the margin ratio to 14%, and resume the limit-up and limit-down band to 8% as of next trading day.
Please arrange your business initiation time properly, make the preparation to bolster the margin in advance, improve the risk awareness and reasonably control the position. Thank you for your attention to and support for the Bank’s precious metal agency business. Wish you a happy, peaceful Spring Festival!
Postal Savings Bank of China
February 3, 2016