Operation Manual

,
/(',QGLFDWLRQV
&RPSOHWHG&KDUJHRU
7ULFNOH&KDUJH
3ULPDU\RU'DPDJHG
%DWWHULHV
*UHHQ
%OLQNLQJ5HG
&RQGLWLRQ /('6LJQDO
&KDUJLQJ 5HG
,QVWUXFWLRQ0DQXDO
 /DGHQ6LHQXU*31LFNHO0HWDOO+\GULGH1L0+$NNXV
 /DGHQ 6LH NHLQHUOHL DQGHUHQ %DWWHULHQ ZLH $ONDOLQH DXIODGEDUH $ONDOLQH
RGHU DQGHUH QLFKW VSH]LIL]LHUWH %DWWHULHQ GD GLHVH DXVODXIHQ RGHU
H[SORGLHUHQN|QQHQZDV]X6FKlGHQXQG.|USHUYHUOHW]XQJHQIKUHQ
NDQQ
 /DGHQ 6LH QLFKW JOHLFK]HLWLJ QHXH XQG DOWH $NNXV RGHU $NNXV DQGHUHU
+HUVWHOOHUXQGXQWHUVFKLHGOLFKHU.DSD]LWlW
 9HUZHQGHQ 6LH QLHPDOV HLQ 9HUOlQJHUXQJVNDEHO RGHU DQGHUHV =XEHK|U
ZHOFKHV QLFKW YRQ *3 HPSIRKOHQ ZLUG GD GLHV VRQVW )HXHU
(OHNWURVFKRFNVRGHU.|USHUYHUOHW]XQJHQKHUEHLIKUHQNDQQ
 (QWIHUQHQ 6LH GDV /DGHJHUlW YRQ GHU 6WHFNGRVH EHYRU 6LH GLHVHV
VlXEHUQRGHUZHQQ6LHHVQLFKWYHUZHQGHQ
 9HUXUVDFKHQ6LHNHLQHQ.XU]VFKOXVVGHU$NNXV
 %ULQJHQ 6LH ZHGHU GLH $NNXV QRFK GDV /DGHJHUlW LQ 9HUELQGXQJ PLW
1lVVH XQG YHUVXFKHQ 6LH QLFKW GLH 3URGXNWH ]X |IIQHQ RGHU DXVHLQDQGHU
]XEDXHQ
 1XU IU GHQ ,QQHQ XQG 7URFNHQJHEUDXFK JHHLJQHW %ULQJHQ 6LH GDV
/DGHJHUlW QLFKW LQ .RQWDNW PLU 5HJHQ 6FKQHH RGHU DQGHUHQ H[WUHPHQ
:HWWHUEHGLQJXQJHQ
 %HL GHU 9HUZHQGXQJ QHXHU $NNXV PVVHQ GLHVH ELV PDO JHODGHQ
XQG HQWODGHQ ZHUGHQ ELV GLHVH LKUH +|FKVWOHLVWXQJ HUUHLFKW KDEHQ
:HQQ GLH $NNXV OlQJHU DOV HLQH :RFKH DXIEHZDKUW ZXUGHQ ODGHQ 6LH
GLHVHYRUGHU 9HUZHQGXQJDXI
 (V LVW EOLFK GDVV GLH $NNXV EHLP /DGHYRUJDQJ KHL ZHUGHQ XQG VLFK
QDFKYROOVWlQGLJHP/DGHQDXI=LPPHUWHPSHUDWXUDENKOHQ
 'LH /DGH]HLW LVW DEKlQJLJ YRQ GHU .DSD]LWlW GHU $NNXV 6LHKH
/DGH]HLWWDEHOOH
 (QWIHUQHQ 6LH GLH $NNXV DXV HOHNWULVFKHQ *HUlWHQ IDOOV GLHVH IU
OlQJHUH=HLWQLFKWYHUZHQGHWZHUGHQ
 $XIEHZDKUXQJVWHPSHUDWXUGHU$NNXV
o
&ELV
o
&
/DGHWHPSHUDWXU
o
&ELV
o
&
 /DGHQ 6LH RGHU 6WFN $$ 0LJQRQ RGHU 6WFN $$$ 0LNUR $NNXV
LPPHU QXU SDDUZHLVH /DGHQ 6LH QLHPDOV $$ XQG $$$ $NNXV JOHLFK]HLWLJ
.HLQHDQGHUH.RPELQDWLRQLVW]XOlVVLJ$EE
 /HJHQ 6LH *3 $NNXV HQWVSUHFKHQG LKUHU 3ROXQJ LQ GHQ /DGHVFKDFKW
²
 9HUELQGHQ 6LH GDV PLWJHOLHIHUWH $&/DGHNDEHO PLW GHP /DGHJHUlW
XQG VWHFNHQ 6LH GDV DQGHUH (QGH GHV /DGHNDEHOV LQ GLH 6WHFNGRVH
$EE 2'(5 YHUELQGHQ 6LH GDV PLWJHOLHIHUWH $XWRODGHNDEHO PLW
GHP /DGHJHUlW XQG VWHFNHQ 6LH GDV DQGHUH (QGH GHV /DGHNDEHOV
LQ GHQ =LJDUHWWHQDQ]QGHU $EE 'HU '&$XWRDGDSWHU LVW QLFKW EHL
DOOHQ0RGHOOHQYRUKDQGHQ
 'LH /('$Q]HLJH OHXFKWHW URW DXI ZHQQ HLQ /DGHYRUJDQJ VWDWWILQGHW
'LH /(' $Q]HLJH VFKDOWHW DXI JUQ ZHQQ GLH $NNXV YROOVWlQGLJ JHODGHQ
VLQG1DFKGHPDOOH$NNXVYROOVWlQGLJJHODGHQVLQGVFKDOWHWGDV*HUlW
DXI(UKDOWXQJVODGXQJXP
 'LH /(' $Q]HLJH ZLUG URW EOLQNHQ RGHU VLFK DEVFKDOWHQ XQG GDV
/DGHJHUlW ZLUG VHLQH /DGHIXQNWLRQ HLQVWHOOHQ ZHQQ $ONDOLQH DXIODGEDUH
$ONDOLQH RGHU EHVFKlGLJWH $NNXV YHUVHKHQWOLFK LQ GDV /DGHJHUlW HLQJHVHW]W
ZXUGHQ
 ,VW GHU /DGHYRUJDQJ EHHQGHW HQWIHUQHQ 6LH GDV /DGHJHUlW DXV GHU
6WHFNGRVHXQGQHKPHQ6LHGLH$NNXVKHUDXV
$& 9ROWIUZHOWZHLWHQ(LQVDW]
/DGHQ 6LH RGHU 6WFN $$ 0LJQRQ RGHU 6WFN $$$ 0LNUR $NNXV
9HUZHQGHQ6LHQXU1L0+$NNXV
6LFKHUKHLWVDEVFKDOWXQJ
0LQXVGHOWD 9ROWDJH$EVFKDOWXQJG9
=HLWDEVFKDOWXQJ
7HPSHUDWXUVHQVRU
(UNHQQXQJYRQ1LFKW$NNXV%DWWHULHQXQGEHVFKlGLJWHQ=HOOHQ
=ZHLIDUELJH/('$Q]HLJH
6LFKHUKHLWVVFKXW]JHZlKUOHLVWHW
/DGHHLJHQVFKDIWHQ
%HGLHQXQJVKLQZHLVH
$FKWXQJ
9RUVLFKW
)UEHVWH/HLVWXQJXQG(UJHEQLVVHODGHQ6LHQXU
*31L0+$NNXVPLWGHU*33RZHU%DQN0
'
6SHFLILFDWLRQV
&KDUJLQJ 7ULFNOH&KDUJLQJ
&XUUHQWP$ &XUUHQWP$
3OXJ ,QSXW 2XWSXW
7\SH 9ROWDJH 9ROWDJH
$$ $$$ $$ $$$

SFV SFV SFV SFV SFV SFV
*6
%6
8/
$&9
+]
'&9      
U
+V
UHJUDK&
&KD
UJLQJ 7LPH
7\SH 6L]H %DWWHU\
&KDUJLQJ 7LPHPLQV
SFV SFV
VHULHV a a
VHULHV a a
VHULHV a a
$$ VHULHV a a
VHULHV a a
*3
P$K a a
1L0+
P$K a a
VHULHV a
VHULHV a
VHULHV a
$$$ P$K a
P$K a
P$K a
P$K a
)LJ
3%
$
$
$
$
$
$
)LJ

$&3RZHU&RUG
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$$
$$
$$
)LJ
'&&DU
$GDSWRU

 1H FKDUJHU TXH GHV DFFXPXODWHXUV 1L0+ IRUPDWV $$5 RX $$$5
 &KDUJHU G·DXWUHV W\SHV G·DFFXPXODWHXUV GHV DOFDOLQHV DOFDOLQHV
UHFKDUJHDEOHV SRXUUDLW FDXVHU GHV GRPPDJHV FRUSRUHOV FDU OHV
pOpPHQWVSRXUUDLHQWFRXOHURXEUOHU
 1H SDV FKDUJHU GHV DFFXPXODWHXUV GH PDUTXHV RX GH FDSDFLWpV
GLIIpUHQWHVQHXIVRXGpMjXWLOLVpVHQPrPHWHPSV
1H MDPDLV XWLOLVHU XQH UDOORQJH RX XQH DXWUH FRQQH[LRQ QRQ
UHFRPPDQGpH SDU *3 RX FHOD SRXUUDLW JpQpUHU XQ LQFHQGLH XQH
pOHFWURFXWLRQRXGHVEOHVVXUHV
 'pEUDQFKH] OH FKDUJHXU DYDQW GH OH QHWWR\HU RX V·LO Q·HVW SDV XWLOLVp
 1HSDVFRXUWFLUFXLWHUOHVDFFXPXODWHXUV
 1H SDV PRXLOOHU EUOHU GpPRQWHU OH FKDUJHXU RX OHV DFFXPXODWHXUV
 3RXU XQH XWLOLVDWLRQ DX VHF HW j O·LQWpULHXU XQLTXHPHQW 1H SDV H[SRVHU
OHFKDUJHXUjODSOXLHODQHLJHRXjGHVFRQGLWLRQVH[WUrPHV
 3RXU OHV DFFXPXODWHXUV QHXIV RX F\FOHV VHURQW QpFHVVDLUHV
DYDQW G·REWHQLU GHV SHUIRUPDQFHV RSWLPDOHV 6L OHV DFFXPXODWHXUV
Q·RQW SDV pWp XWLOLVpV GHSXLV SOXV G·XQH VHPDLQH UHFKDUJH] OHV DYDQW
XWLOLVDWLRQ
 ,O HVW QRUPDO TXH OHV DFFXPXODWHXUV FKDXIIHQW ORUVTX·LOV VRQW HQ
FKDUJH OHXU WHPSpUDWXUH UHGHVFHQGUD MXVTX·j OD WHPSpUDWXUH DPELDQWH
DSUqVTX·LOVVRLHQWFRPSOpWHPHQWFKDUJpV
 /H WHPSV GH FKDUJH YDULH VHORQ OD FDSDFLWp GHV DFFXPXODWHXUV 6H
UpIpUHUDXWDEOHDXGHVWHPSVGHFKDUJH
 (QOHYH] OHV DFFXPXODWHXUV GH YRWUH DSSDUHLO pOHFWULTXH VL FHOXLFL
HVW VXVFHSWLEOH GH QH SDV rWUH XWLOLVp SHQGDQW XQH SpULRGH SURORQJpH
 7HPSpUDWXUHGHVWRFNDJHGHVDFFXPXODWHXUVo&jo&
7HPSpUDWXUHGHIRQFWLRQQHPHQWGXFKDUJHXUo&jo&
&KDUJHRX$$5RX$$$5SDUSDLUHVHXOHPHQW1HFKDUJH]
SDV OHV IRUPDWV 5$$ HW 5$$$ 1L0+ HQ PrPH WHPSV /HV
FRPELQDLVRQVSRVVLEOHVVRQWLQGLTXpHVHQILJXUH
 ,QVpUH] OHV DFFXPXODWHXUV *3 1L0+ GDQV OHV HPSODFHPHQWV SUpYXV
HQSUHQDQWVRLQGHOHVSRVLWLRQQHUHQUHVSHFWDQWOHVSRODULWpV
 %UDQFKH] OH FkEOH G·DOLPHQWDWLRQ DX FKDUJHXU SXLV O·DOLPHQWDWLRQ VXU
OH VHFWHXU )LJ 28 EUDQFKH] OH FkEOH DOOXPHFLJDUHV DX FKDUJHXU
SXLV OH FkEOH GDQV OD SULVH DOOXPHFLJDUHV )LJ
´&RUGRQ DOOXPH
FLJDUHVXQLTXHPHQWLQFOXVDYHFPRGqOHVVSpFLILTXHVµ
 /H YR\DQW URXJH V·DOOXPH SRXU LQGLTXHU TXH OHV DFFXPXODWHXUV VRQW
HQ FKDUJH ,O SDVVHUD DX YHUW ORUVTXH OHV DFFXPXODWHXUV VHURQW
FRPSOqWHPHQWFKDUJpVSXLVHQPRGHPDLQWLHQGHFKDUJH
 /HYR\DQWURXJHFOLJQRWHUDRXV·pWHLQGUDHWOHFKDUJHXUV·DUUrWHUDVL
GHV SLOHV QRQ UHFKDUJHDEOHV RX GpIHFWXHXVHV VRQW LQVpUpHV GDQV
OHFKDUJHXU
 /RUVTXH OD FKDUJH HVW WHUPLQpH GpEUDQFKH] OH FKDUJHXU GX VHFWHXU
HWHQOHYH]OHVDFFXPXODWHXUVGXFKDUJHXU
$&9SRXUXQHXWLOLVDWLRQGDQVOHPRQGHHQWLHU
&KDUJH RX DFFXPXODWHXUV $$5 RX DFFXPXODWHXUV $$$5
&KDUJHXQLTXHPHQWODWHFKQRORJLH1L0+
0pWKRGHVGHILQGHFKDUJH
'pWHFWLRQGXGHOWD 9QpJDWLI
&RQWU{OHWHPSRULVp
&RQWU{OHGHWHPSpUDWXUH
'pWHFWLRQGHVSLOHVQRQUHFKDUJHDEOHVRXGpIHFWXHXVHV
8QYR\DQWELFRORUHG·LQGLFDWLRQGHIRQFWLRQQHPHQW
)RQFWLRQQHPHQWVpFXULVp
6SpFLILFDWLRQVGXFKDUJHXU
,QVWUXFWLRQVG¶XWLOLVDWLRQ
$WWHQWLRQ
3UpFDXWLRQV
3RXU GH PHLOOHXUHV SHUIRUPDQFHV HW SDU VpFXULWp FKDUJH]
VHXOHPHQW GHV DFFXPXODWHXUV *3 1L0+ GDQV OH FKDUJHXU
*3 3RZHU%DQN 0
)
$&9YRRUZHUHOGZLMGJHEUXLN
/DDGW WRW VWXNV KHUODDGEDUH $$EDWWHULMHQ RI VWXNV KHUODDGEDUH
$$$EDWWHULMHQ
/DDGWHQNHO1L0+EDWWHULMHQ
$IVFKDNHOPHFKDQLVPHQ
1HJDWLHYHGHOWD 9G9
9HLOLJKHLGVWLPHU
7HPSHUDWXXUVHQVRU
'HWHFWHHUWSULPDLUHHQEHVFKDGLJGHEDWWHULMHQ
WZHHNOHXULJH/('LQGLFDWRU
9HLOLJKHLGJHJDUDQGHHUG
9RRU KHW EHVWH UHVXOWDDW HQ XZ YHLOLJKHLG ODDG HQNHO *3
1L0+EDWWHULMHQLQGH*33RZHU%DQN0
/DGHUHLJHQVFKDSSHQ
 /DDGHQNHO*31L0+EDWWHULMHQ
 *HEUXLN EXLWHQ GH RQGHU SXQW YHUPHOGH EDWWHULMHQ 1L0+ JHHQ DQGHUH
VRRUWHQ EDWWHULMHQ ]RDOV EY $ONDOLQHEDWWHULMHQ RI KHUODDGEDUH
DONDOLQHEDWWHULMHQ +HW ODGHQ YDQ DQGHUH VRRUWHQ EDWWHULMHQ NDQ LPPHUV
OHLGHQWRWH[SORVLHPHWOLFKDPHOLMNOHWVHOWRWJHYROJ
 /DDG JHHQ EDWWHULMHQ YDQ KHW]HOIGH IRUPDDW PDDU PHW HHQ YHUVFKLOOHQGH
FDSDFLWHLW EY  6HULHV HQ  6HULHV RI HHQ YHUVFKLOOHQGH UHVWODGLQJ
KHOHPDDOOHHJKDOIOHHJWHJHOLMNHUWLMGRS
 *HEUXLN JHHQ YHUOHQJVQRHU RI HHQ DQGHUH DDQVOXLWLQJ GLH QLHW ZHUG
DDQJHUDGHQ GRRU *3 $QGHUH DDQVOXLWLQJHQ NXQQHQ PRJHOLMN EUDQG
HOHNWULVFKHVKRFNRISHUVRRQOLMNOHWVHOYHURRU]DNHQ
 +DDO GH *3 3RZHU%DQN 0 XLW KHW VWRSFRQWDFW YRRUGDW X GH]H
VFKRRQPDDNWRIZDQQHHUXGH*33RZHU%DQN0QLHWJHEUXLNW
 %DWWHULMHQQLHWNRUWVOXLWHQ
 /DGHURIEDWWHULMHQQLHWVROGHUHQYHUEUDQGHQRIGHPRQWHUHQ
 $OOHHQJHVFKLNWYRRUJHEUXLNELQQHQVKXLVHQLQHHQGURJHRPJHYLQJ
/DGHUQLHWEORRWVWHOOHQDDQUHJHQVQHHXZRIH[WUHPHFRQGLWLHV
:DDUVFKXZLQJ
 1LHXZH EDWWHULMHQ GLHQHQ HHUVW WRW PDDO YROOHGLJ JHODGHQ HQ RQWODGHQ
WH ZRUGHQ YRRU X RYHU KXQ YROOHGLJH FDSDFLWHLW NXQW EHVFKLNNHQ %DWWHULMHQ
GLH ODQJHU GDQ HHQ ZHHN ZHUGHQ RSJHVODJHQ GLHQHQ YRRU JHEUXLN HHUVW
WHZRUGHQRSJHODGHQ
 +HW LV QRUPDDO GDW GH EDWWHULMHQ KHHW ZRUGHQ WLMGHQV KHW ODGHQ HQ GDW
]H JHOHLGHOLMN DINRHOHQ WRW NDPHUWHPSHUDWXXU HHQV ]H KHOHPDDO RSJHODGHQ
]LMQ
'H ODDGWLMG KDQJW DI YDQ GH EDWWHULMHQ ]LH WDEHO PHW
ODDGWLMGHQ
 9HUZLMGHU GH EDWWHULMHQ XLW GH HOHNWULVFKH DSSOLFDWLH LQGLHQ GH]H YRRU HHQ
ODQJHWLMGQLHW]DOZRUGHQJHEUXLNW
 %HZDDUWHPSHUDWXXUYRRUEDWWHULM
o&WRWo&
/DDGWHPSHUDWXXU
o&WRWo&
2SJHOHW
 /DDG WRW VWXNV $$ RI VWXNV $$$EDWWHULMHQ /DDG GH EDWWHULMHQ
HQNHO LQ SDUHQ /DDG QRRLW $$ HQ $$$ 1L0+EDWWHULMHQ WHJHOLMN *HHQ
DQGHUHFRPELQDWLHLVPRJHOLMN)LJ
 3ODDWVGH*31L0+EDWWHULMHQLQGHODGHUYROJHQVGHMXLVWHSRODULWHLW
 6OXLW GH QHWYRHGLQJVNDEHO DDQ RS GH ODGHU HQ VWHHN YHUYROJHQV GH
VWHNNHU LQ KHW VWRSFRQWDFW )LJ 2) VOXLW KHW '&DXWRODDGVQRHU DDQ
RS GH ODGHU HQ VWHHN GH]H GDDUQD LQ GH VLJDUHWWHQDDQVWHNHU YDQ XZ
DXWR )LJ
´$OOHHQ VSHFLILHNH PRGHOOHQ ]LMQ XLWJHUXVW PHW HHQ '& FDU
DGDSWRUµ
 'H /('LQGLFDWRU ]DO URRG RSOLFKWHQ DOV KHW ODGHQ LV EHJRQQHQ +LM ]DO
JURHQ NOHXUHQ ]RGUD GH EDWWHULMHQ YROJHODGHQ ]LMQ 'H *3 3RZHU%DQN
0VFKDNHOWRYHURSGUXSSHOODGLQJDOVDOOHEDWWHULMHQYROJHODGHQ]LMQ
 'H URGH /('LQGLFDWRU ]DO NQLSSHUHQ RI JDDW XLW HQ KHW ODGHQ ZRUGW
RQGHUEURNHQ DOV HU SHU YHUJLVVLQJ DONDOLQHEDWWHULMHQ KHUODDGEDUH
DONDOLQHEDWWHULMHQ RI EHVFKDGLJGH EDWWHULMHQ LQ GH *3 3RZHU%DQN 0
ZHUGHQJHSODDWVW
 +DDO GH *3 3RZHU%DQN 0 XLW KHW VWRSFRQWDFW YDQ ]RGUD KHW
ODDGSURFHV LV EHsLQGLJG 1HHP YHUYROJHQV RRN GH EDWWHULMHQ XLW GH ODGHU
/DDGLQVWUXFWLHV
1/

Summary of content (1 pages)