Operation Manual

'
*3%DWWHU\
7LPHPLQV
SF SFV
VHULHV a a
VHULHV a a
VHULHV a a
P$K a a
1L0+
P$K a a
$$$
P$K a a
P$K a a
P$K a a
P$K a a
)URSWLPDOH/HLVWXQJXQG]X,KUHU6LFKHUKHLWYHUZHQGHQ6LH]XP
$XIODGHQPLWGLHVHP/DGHJHUlWQXU1L0+$NNXVYRQ*3%DWWHULHV
9RUVLFKW
 9HUZHQGHQ6LHQXU1LFNHO0HWDOOK\GULG1L0+$NNXVYRQ*3
 /DGHQ 6LH NHLQH DQGHUHQ %DWWHULHQ ZLH $ONDOLQH =LQN.RKOH /LWKLXP
RGHU DXIODGEDUH $ONDOLQH GD GLHVH DXVODXIHQ RGHU H[SORGLHUHQ
N|QQHQZDV]X6FKlGHQXQG9HUOHW]XQJHQIKUHQNDQQ

9HUZHQGHQ 6LH QLHPDOV HLQ 9HUOlQJHUXQJVNDEHO RGHU DQGHUHV =XEHK|U
ZHOFKHV QLFKW YRQ *3 HPSIRKOHQ ZLUG GD GLHVHV VRQVW )HXHU
(OHNWURVFKRFNVRGHUDQGHUH9HUOHW]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 $NNXV QRFK /DGHJHUlW LQ 9HUELQGXQJ PLW 1lVVH XQG
YHUVXFKHQ6LHQLFKWGLH3URGXNWH]X|IIQHQRGHUDXVHLQDQGHU]XEDXHQ
 1XU IU WURFNHQH ,QQHQUlXPH JHHLJQHW 6HW]HQ 6LH GDV /DGHJHUlW
QLHPDOV5HJHQ6FKQHHRGHUDQGHUHQH[WUHPHQ:LWWHUXQJHQDXV
%HDFKWHQ6LHELWWH
 %HL QHXHQ $NNXV EHQ|WLJHQ 6LH EOLFKHUZHLVH  /DGH]\NOHQ
$XIODGHQ XQG (QWODGHQ XP HLQH RSWLPDOH /HLVWXQJ ,KUHU $NNXV ]X
HUKDOWHQ :HQQ GLH $NNXV OlQJHU DOV HLQH :RFKH XQEHQXW]W JHODJHUW
ZHUGHQVROOWHQVLHYRUGHP*HEUDXFKQHXDXIJHODGHQZHUGHQ
 (V LVW QRUPDO ZHQQ GLH $NNXV ZlKUHQG GHV /DGHYRUJDQJV KHL
ZHUGHQ 6LH ZHUGHQ VLFK DEHU UDVFK ZLHGHU DXI =LPPHUWHPSHUDWXU
DENKOHQZHQQGLH$XIODGXQJDEJHVFKORVVHQLVW
 )U EHVWH 5HVXOWDWH YHUZHQGHQ 6LH GHQ *3 3RZHU%DQN 86% /DGHU
EHL=LPPHUWHPSHUDWXUXQGDXVUHLFKHQGHU%HOIWXQJ
 'LH /DGH]HLW LVW DEKlQJLJ YRQ GHQ .DSD]LWlWHQ GHU $NNXV %HDFKWHQ
6LHGD]XGLH/DGH]HLWHQWDEHOOH
 1HKPHQ 6LH GLH $NNXV DXV ,KUHP YHUZHQGHWHQ *HUlW ZHQQ 6LH HV
EHUHLQHQOlQJHUHQ=HLWUDXPQLFKWEHQXW]HQ
%HGLHQXQJVKLQZHLVH
 9HUELQGHQ 6LH GHQ 86%$QVFKOXVV GLHVHU *3 3RZHU%DQN GLUHNW PLW
NHLQH9HUOlQJHUXQJVNDEHO
 /DGHQ 6LH DXVVFKOLHOLFK *3 1L0+$NNXV LQ GLHVHP *3 3RZHU%DQN
86%/DGHU
 =LHKHQ6LHGHQ/DGHVFKDFKWOHLFKWDXVHLQDQGHU
 6HW]WHQ 6LH GLH *3 1L0+$NNXV )RUPDW $$ RGHU $$$ JHPl GHU
DQJHJHEHQHQ 3ROXQJ LQ GDV /DGHJHUlW HLQ 9HUPHLGHQ 6LH HLQH
8PSROXQJ
 $NNXV GHV JOHLFKHQ )RUPDWV DEHU XQWHUVFKLHGOLFKHU .DSD]LWlW GUIHQ
QLHPDOV]XUJOHLFKHQ=HLWLQGHP*HUlWDXIJHODGHQZHUGHQ
/HVHQ6LHGLH%HGLHQXQJVDQOHLWXQJVRUJIlOWLJGXUFKEHYRU6LHGDV
/DGHJHUlWYHUZHQGHQ%HZDKUHQ6LHGLHVH$QOHLWXQJDXI
/lGWRGHU1L0+$NNXVGHV)RUPDWV$$RGHU$$$
$XINODSSEDUHU86%$QVFKOXVV
+DQGOLFKOHLFKWXQGPRELOHLQVHW]EDU
,GHDOIUXQWHUZHJV
=ZHLIDUELJH/('$Q]HLJH
 6LFKHUKHLWVDEVFKDOWXQJ
0LQXVGHOWD9ROWDJH$EVFKDOWXQJG9
=HLWDEVFKDOWXQJ
7HPSHUDWXUVHQVRU
$XWRPDWLVFKH$EVFKDOWXQJQDFK6SDQQXQJXQG=HLWXP
HLQHhEHUODGXQJ]XYHUPHLGHQ
(UNHQQXQJYRQ(LQZHJEDWWHULHQXQGGHIHNWHQ$NNXV
(LJHQVFKDIWHQGHV/DGHJHUlWV
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
:HUIHQ 6LH $NNXV XQG %DWWHULHQ QLFKW LQ GHQ 5HVWPOO VRQGHUQ HQWVRUJHQ 6LH GLHVH LP 6RQGHUPOO
RGHU DQ HQWVSUHFKHQGHQ 6WDWLRQHQ .RQWDNWLHUHQ 6LH ,KUH 6WDGW RGHU *HPHLQGHYHUZDOWXQJ XP PHKU
EHU GLH (QWVRUJXQJVP|JOLFKNHLWHQ ]X HUIDKUHQ
:HQQ HOHNWULVFKH *HUlWH LQ GHU 1DWXU RGHU LP
5HVWPOO ODQGHQ N|QQHQ JHIlKUOLFKH 6XEVWDQ]HQ LQ GDV *UXQGZDVVHU VLFNHUQ XQG LQ GLH 1DKUXQJVNHWW
H
JHODQJHQ ,KUH *HVXQGKHLW XQG ,KU :RKOEHILQGHQ N|QQHQ VR JHIlKUGHW ZHUGHQ
,QVWUXFWLRQ0DQXDO
,
$$$
$$$$$$$
7ULFNOH&KDUJH
&XUUHQWP$
&KDUJLQJ
&XUUHQWP$
,QSXW
9ROWDJH
2XWSXW
9ROWDJH
6SHFLILFDWLRQV

3RZHUHGE\FRPSXWHU
9'& 9
SF SFV SF SFV
   
 
/(',QGLFDWLRQV
&RQGLWLRQ /('6LJQDO
&KDUJLQJ
&RPSOHWHG&KDUJHRU7ULFNOH
&KDUJH
3ULPDU\RU'DPDJHG
%DWWHULHV
5HG
*UHHQ
%OLQNLQJ5HG
&KDUJLQJ7LPH
*3%DWWHU\
7LPHPLQV
SF SFV
VHULHV a a
VHULHV a a
VHULHV a a
1L0+ VHULHV a a
$$ VHULHV a a
P$K a a
P$K a a
P$K a a
)
3RXUGHVSHUIRUPDQFHVRSWLPDOHVHWSRXUGHVUDLVRQVGHVpFXULWp
FKDUJH]VHXOHPHQWGHVSLOHV*31L0+DYHF*33RZHU%DQN
3UpFDXWLRQV

&KDUJH]VHXOHPHQWOHVSLOHVUHFKDUJHDEOHV*31LFNHO0HWDO+\GULGH1L0+

1HSDVFKDUJHUG¶DXWUHVW\SHVGHSLOHVFRPPHOHVDOFDOLQHVOHV
DOFDOLQHVUHFKDUJHDEOHVRXG¶DXWUHVVRUWHVGHSLOHVTXHFHX[VSpFLILpV
FDUFHODSRXUUDLWFDXVHUGHVEOHVVXUHVRXGHVGRPPDJHVFRUSRUHOV
 1HSDVXWLOLVHUGHUDOORQJHRXWRXWDXWUHFRUGRQG¶DOLPHQWDWLRQ
QRQUHFRPPDQGpSDU*3FDULO\DXUDLWULVTXHG¶LQFHQGLH
G¶pOHFWURFXWLRQRXGHEOHVVXUHV
 'pEUDQFKH]OHFKDUJHXUGXSRUW86%DYDQWGHOHQHWWR\HURX
ORUVTX¶LOQ¶HVWSDVXWLOLVp
 1HSDVFRXUWFLUFXLWHUOHVSLOHVUHFKDUJHDEOHV
 1HSDVPRXLOOHULQFLQpUHURXGpPRQWHUOHFKDUJHXURXOHVSLOHV
UHFKDUJHDEOHV
 8WLOLVDWLRQLQWpULHXUVHXOHPHQW1HSDVH[SRVHUjODSOXLHjOD
QHLJHRXjGHVFRQGLWLRQVH[WUrPHV
$WWHQWLRQ

/RUVTXH OHV SLOHV VRQW QHXYHV j F\FOHV GH FKDUJHGpFKDUJH VRQW
QpFHVVDLUHV SRXU RSWLPLVHU OHXUV SHUIRUPDQFHV 6L OHV SLOHV VRQW VWRFNpHV
SHQGDQWSOXVG¶XQHVHPDLQHUHFKDUJH]OHVDYDQWGHOHVXWLOLVHU
 ,O HVW QRUPDO TXH OHV SLOHV FKDXIIHQW SHQGDQW OD FKDUJH HOOHV
UHIURLGLURQWMXVTX¶jWHPSpUDWXUHDPELDQWHDSUqVODFKDUJH
 3RXU GH PHLOOHXUV UpVXOWDWV XWLOLVH] OH FKDUJHXU 86% *3 3RZHU%DQN
jWHPSpUDWXUHDPELDQWHDYHFXQHERQQHDpUDWLRQ
 /H WHPSV GH FKDUJH YDULH VHORQ OHV FDSDFLWpV GLIIpUHQWHV GHV SLOHV
UHFKDUJHDEOHVUpIpUH]YRXVDXWDEOHDXGHVWHPSVGHFKDUJH
 (QOHYH] OHV SLOHV UHFKDUJHDEOHV GH YRWUH DSSDUHLO pOHFWULTXH VL
O¶DSSDUHLOQ¶HVWSDVXWLOLVpSHQGDQWORQJWHPSV
 7HPSpUDWXUHGHVWRFNDJHGHVSLOHV&j&
7HPSpUDWXUHGHFKDUJH&j&
,QVWUXFWLRQVGHFKDUJH
 &RQQHFWH] *3 3RZHU%DQN 86% GLUHFWHPHQW DX SRUW 86% 1H
MDPDLVXWLOLVHUXQFRUGRQG¶H[WHQVLRQ
 &KDUJH] VHXOHPHQW OHV SLOHV UHFKDUJHDEOHV *3 1L0+ GDQV OH
FKDUJHXU86%*33RZHU%DQN
 )DLWHVJOLVVHUO¶HPSODFHPHQWGHVSLOHV
 ,QVpUH] OHV SLOHV UHFKDUJHDEOHV *3 1L0+ $$5 HW $$$5 GDQV
OH FKDUJHXU 86% *3 3RZHU%DQN VHORQ OHV SRODULWpV GHV SLOHV (YLWH]
GHUHFKDUJHUGDQVOHVHQVFRQWUDLUH
 1H SDV UHFKDUJHU OHV PrPHV IRUPDWV GH SLOHV UHFKDUJHDEOHV DYHF
GHVFDSDFLWpVGLIIpUHQWHVHQPrPHWHPSV
/LUHOHPDQXHOG¶XWLOLVDWLRQDYDQWXVDJH
*DUGHUOHPDQXHOSRXUOHVIXWXUHVXWLOLVDWLRQV
&KDUJHRXSLOHVUHFKDUJHDEOHV1L0+$$5HW$$$5
jKHXUHVSRXUUHFKDUJHU[$$$$$SLOHVUHFKDUJHDEOHV1L0+
3ULVH86%SOLDEOH
$OLPHQWpSDURUGLQDWHXU
&RPSDFWOpJHUHWSRUWDEOH
,GpDOSRXUOHVYR\DJHV
'RXEOHFRXOHXUSRXUO¶LQGLFDWLRQ/('
 0pWKRGHVGHILQGHFKDUJH
'pWHFWLRQGXGHOWD9QpJDWLI
&RQWU{OHWHPSRULVp
&RQWU{OHGHWHPSpUDWXUH
&RQWU{OHGHVpFXULWpDYHFFRXSXUHDXWRPDWLTXHFRQWUHOD
VXUFKDUJHSDUWHQVLRQHWWHPSRULVDWLRQ
'pWHFWLRQGHSLOHVSULPDLUHVHWGpIHFWXHXVHV
&DUDFWpULVWLTXHV
1H SDV MHWHU OHV DSSDUHLOV pOHFWULTXHV FRPPH OD SOXSDUW GHV GpFKHWV GRPHVWLTXHV XWLOLVH] OHV pTXLSHPHQWV
GH FROOHFWHV GH WULV VpOHFWLIV &RQWDFWH] YRWUH DXWRULWp ORFDOH SRXU REWHQLU GHV LQIRUPDWLRQV FRQFHUQDQW
OH V\VWqPH GH FROOHFWH 6L OHV DSSDUHLOV pOHFWULTXHV VRQW MHWpV GDQV OD QDWXUH RX GDQV OHV GpFKDUJHV
GHV VXEVWDQFHV SROOXDQWHV SRXUUDLHQW FRXOHU GDQV OD QDSSH SKUpDWLTXH HW LPSDFWHU OD FKDLQH DOLPHQWDLUH
SRXYDQW FDXVHU DLQVL GHV GRPPDJHV SRXU YRWUH VDQWp RX OH ELHQ rWUH GH WRXV
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
1/





$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

Summary of content (1 pages)