Recognition of foreign credit ratings allows bank guarantees rated by reputed foreign agencies to qualify as member liquid assets. SEBI permits bank guarantees from banks rated by reputed foreign credit rating agencies to qualify as member liquid assets, modifying Clause 4(V)(A)(b) so that exposure limits on the trade guarantee fund and total liquid assets apply where a bank is not rated P1 (or P1+) or equivalent by either a domestic recognised credit rating agency or by a reputed foreign credit rating agency.
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Recognition of foreign credit ratings allows bank guarantees rated by reputed foreign agencies to qualify as member liquid assets.
SEBI permits bank guarantees from banks rated by reputed foreign credit rating agencies to qualify as member liquid assets, modifying Clause 4(V)(A)(b) so that exposure limits on the trade guarantee fund and total liquid assets apply where a bank is not rated P1 (or P1+) or equivalent by either a domestic recognised credit rating agency or by a reputed foreign credit rating agency.
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