MUMBAI (Reuters) - All over-the-counter transactions by banks in currency swaps and interest rate derivatives will have to be reported to the Clearing Corporation of India Ltd (CCIL) effective December 30, 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 December 30, will have to be reported to CCIL by January 31, 2014, the Reserve Bank of India said in a notification.
For the full notification please click on:
http://rbidocs.rbi.org.in/rdocs/notification/PDFs/OTCFE041213.pdf
(Reporting by Swati Bhat)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app