Daily Email Newsletter (Sign-up Free)

Forward Rate Agreement & Interest Rate Swap: Withdrawal of Fortnightly Return

RBI Notification FMRD.DIRD.13/14.01.019/2016-17 dated February 16, 2017 to all Market Participants

1. Attention is invited to the RBI notification ref. no. MPD.BC.187/07.01.279/1999-2000 dated July 07, 1999. As per the notification, banks were advised to submit a fortnightly return on FRA/IRS to Monetary Policy Department with a copy to various RBI departments.

2. In a further step towards rationalization of returns it has been decided to withdraw the said return with immediate effect. The banks are hereby advised to stop sending the hardcopy of the said return to RBI.

3. The existing procedure for reporting OTC Foreign exchange and Interest Rate Derivative transactions to the trade repository hosted by CCIL as laid down in our circular no. FMD.MSRG.No.67/02.05.002/2011-12 dated March 09, 2012 (as amended from time to time) shall continue.

4. The directions contained in this circular have been issued by RBI in exercise of its powers conferred under section 45W of the Reserve Bank of India Act, 1934 and of all the powers enabling it in this behalf.

No comments:

Post a Comment

In comment with "Name/Url" option, only Name is mandatory to be filled.