Collateral | B3

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 stocks or Exchange Traded Fund (ETF) with reference index composed of shares of stock 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) Bank letters of credit (LCs);

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

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

(xiv) Investment Fund Clearinghouse Liquidity (FILCB) shares.