SC: Delhi HC Can Restrict Senior Advocate Designation to Its Own Retired Judges  ||  Supreme Court: ‘Himachal May Disappear’, Flags Environmental Crisis  ||  Delhi HC: Civil Courts Can Block Foreign Arbitration if it’s Oppressive  ||  Madras HC: No Political Symbols or Leader Photos in Welfare Ads  ||  Bombay HC: Fresh Corruption Trial Allowed After Valid Sanction  ||  Calcutta HC: Compromise Scheme Under Companies Act Overrides SARFAESI  ||  SC: Authority Imposing Minor Penalty Can Initiate Major Penalty Charges  ||  SC Slams HC for 2-Year Bail Delay, Calls for Sensitivity in Liberty Cases  ||  SC: Recalls Judgment in Bhushan Steel Case Citing Injustice Under Art. 142  ||  HP HC: No Detention Merely for Suspected Heroin in Blood    

Trade Repository for OTC Foreign Exchange and Interest Rate Derivatives- (Reserve Bank of India) (21 Sep 2017)

MANU/RMIC/0127/2017

Banking

1. Attention of Authorised Dealer Category - I (AD Category-I) banks is invited to circular no.FMD.MSRG.No.75/02.05.002/2012-13 dated March 13, 2013 on the captioned subject wherein a threshold of USD 1 million, and equivalent thereof in other currencies, was stipulated for reporting FCY-INR and FCY-FCY forward and options trades between AD Category-I banks and their clients to the Trade Repository (TR). Subsequently, Clearing Corporation of India Limited (CCIL), in consultation with Reserve Bank on June 02, 2016, had informed its members the removal of this threshold limit for reporting FCY-INR and FCY-FCY option trades w.e.f. July 04, 2016.

2. It has now been decided to remove the threshold for reporting FCY-INR and FCY-FCY forward trades between AD Category-I banks and their clients w.e.f. October 03, 2017.

3. As a one-time measure, in order to update the outstanding balances in the Trade Repository (TR), AD Category-I banks are advised to report the following to the CCIL by October 06, 2017:

i. OTC currency option transactions between AD Category-I banks and their clients undertaken before April 02, 2013 and outstanding as on September 29, 2017.

ii. OTC currency option transactions between AD Category-I banks and their clients, with value below USD 1 million and equivalent thereof in other currencies, undertaken in the period April 02, 2013 - July 03, 2016 and outstanding as on September 29, 2017.

iii. Currency forward transactions between AD Category-I banks and their clients, with value below USD 1 million and equivalent thereof in other currencies, and outstanding as on September 29, 2017.

4. AD Category-I banks are advised to ensure that outstanding balances between their books and the TR are reconciled on an ongoing basis.

Tags : TRADE REPOSITORY   FOREIGN EXCHANGE   INTEREST RATE  

Share :        

Disclaimer | Copyright 2025 - All Rights Reserved