Can a bank enter into a swap with RBI if the original tenor of the fresh FCNR (B) deposits mobilized is more than three years but at the time of availing of the swap facility with RBI, the residual maturity is less than three years?
Swap Window for attracting FCNR (B) Dollar funds - As on Sep 18, 2013
Contents
Summary
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
Swap eligibility: banks may use RBI swap facility when original FCNR(B) tenor met, despite marginally shorter residual maturity. Banks may access the RBI swap window for FCNR(B) dollar funds where the deposits were originally mobilised for a minimum tenor of three years with a ... Summary
Swap eligibility: banks may use RBI swap facility when original FCNR(B) tenor met, despite marginally shorter residual maturity.
Banks may access the RBI swap window for FCNR(B) dollar funds where the deposits were originally mobilised for a minimum tenor of three years with a one-year lock-in, and swaps are transacted in prescribed multiples of one million US dollars; in such cases RBI permits swaps of tenors marginally shorter than three years when residual maturity falls below three years.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
Join Channel
TaxTMI 
