All-in-cost ceiling for External Commercial Borrowings extended, preserving enhanced cost limits by maturity for a further period. The Reserve Bank directed continuation of enhanced all-in-cost ceilings for External Commercial Borrowings: 350 basis points over six-month LIBOR for average maturities of three years up to five years, and 500 basis points for maturities exceeding five years, applicable until September 30, 2012 and subject to review. Authorised Dealer Category-I banks must notify customers. The measures are issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999. A related press release applies an all-in-cost of 350 basis points over six-month LIBOR to trade credit up to one year.
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All-in-cost ceiling for External Commercial Borrowings extended, preserving enhanced cost limits by maturity for a further period.
The Reserve Bank directed continuation of enhanced all-in-cost ceilings for External Commercial Borrowings: 350 basis points over six-month LIBOR for average maturities of three years up to five years, and 500 basis points for maturities exceeding five years, applicable until September 30, 2012 and subject to review. Authorised Dealer Category-I banks must notify customers. The measures are issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999. A related press release applies an all-in-cost of 350 basis points over six-month LIBOR to trade credit up to one year.
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