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of <h1>FIIs Can Use AAA-Rated Foreign Sovereign Securities as Collateral in Derivatives on Indian Exchanges; Await SEBI Guidelines.</h1> The circular informs Category-I Authorized Dealer banks about the decision to allow Foreign Institutional Investors (FIIs) to use foreign sovereign securities with AAA ratings as collateral for transactions in the derivatives segment on recognized Indian Stock Exchanges. This decision was made in consultation with the Government of India and the Securities and Exchange Board of India (SEBI). Operational guidelines will be provided by SEBI, and stock exchanges may seek necessary approvals from the Reserve Bank of India under the Foreign Exchange Management Act, 1999. Amendments to relevant regulations will be issued separately, and banks are requested to inform their clients accordingly.
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