1. A CCP shall publicly disclose the general principles underlying its models and their methodologies, the nature of tests performed, with a high level summary of the test results and any corrective actions undertaken.

2. A CCP shall make available to the public key aspects of its default procedures, including:

(a) the circumstances in which action may be taken;

(b) who may take those actions;

(c) the scope of the actions which may be taken, including the treatment of both proprietary and client positions, funds and assets;

(d) the mechanisms to address a CCP's obligations to non-defaulting clearing members;

(e) the mechanisms to help address the defaulting clearing member's obligations to its clients.