Annual Report 2017

153 Note SET Fund balances Securities Clearing Reserve Fund Derivatives Clearing Reserve Fund Indemnity Fund Staff Welfare Fund Securities Investor Protection Fund General Fund Total Opening balance at 1 January 2016 2,500,000 300,000 100,000 107,792 439,269 18,706,211 22,153,272 Appropriation of general fund 2,040,000 - - - - (2,040,000) - Revenues over expenses 26 - - - 1,748 11,124 1,536,252 1,549,124 Closing balance at 31 December 2016 4,540,000 300,000 100,000 109,540 450,393 18,202,463 23,702,396 Opening balance at 1 January 2017 4,540,000 300,000 100,000 109,540 450,393 18,202,463 23,702,396 Appropriation of general fund 200,000 - - - - (200,000) - Other comprehensive revenues and expenses, net of tax - - - - - (117,782) (117,782) Revenues over expenses 26 - - - 1,130 9,215 1,413,192 1,423,537 Closing balance at 31 December 2017 4,740,000 300,000 100,000 110,670 459,608 19,297,873 25,008,151 (Unit: Baht’000) Details of fund balances are as follows: Securities Clearing Reserve Fund In 1997, 2013, 2016 and 2017 the Board of Governors of the SET approved an appropriation of general funds of Baht 2,000 million, Baht 500 million, Baht 2,040 million and Baht 200 million, respectively, totalling Baht 4,740 million to the Securities Clearing Reserve Fund, which is operated by a subsidiary of the SET, in order to resolve liquidity risk in the event of default on clearing and settlement from securities trading on SET. Derivatives Clearing Reserve Fund In 2004, the Board of Governors of the SET approved an appropriation of general funds of Baht 300 million to the Derivatives Clearing Reserve Fund in order to assure contingent losses from the clearing system of futures contracts at Thailand Clearing House Co., Ltd. Indemnity Fund In 1993 and 2002, the Board of Governors of the SET approved appropriations of general funds totalling Baht 100 million to the Indemnity Fund in order to assist and assure the Board of Governors of the SET and those appointed assignees on matters requiring consideration and decisions which may affect or cause damages to other parties. Staff Welfare Fund In 1997 and 2004, the Board of Governors of the SET approved appropriations of general funds was Baht 75 million to the Staff Welfare Fund. All benefits earned from this fund are retained in the fund. Securities Investor Protection Fund In 2004, the Board of Governors of the SET approved an appropriation of Baht 300 million from broker seat admission fees as an initial fund for the establishment of the Securities Investor Protection Fund (SIPF).