All over-the-counter trades to be reported to clearing body: RBI1 min read . Updated: 04 Dec 2013, 09:08 PM IST
All OTC trades by banks in currency swaps, interest rate derivatives will have to be reported to Clearing Corporation effective 30 Dec
Mumbai: All over-the-counter (OTC) transactions by banks in currency swaps and interest rate derivatives will have to be reported to the Clearing Corporation of India Ltd (CCIL) effective 30 December, the Reserve Bank of India (RBI) said on Wednesday.
The RBI had advised banks in March 2012 to report all or some of the trades in the OTC segment to the CCIL, subject to a mutually agreed confidentiality protocol.
All outstanding interbank transactions in currency swaps and foreign currency fixed rate agreements, and outstanding transactions with clients in rupee fixed rate agreements as at 30 December, will have to be reported to CCIL by 31 January 2014, the Reserve Bank of India said in a notification. Reuters