<h1>Credit derivatives: draft enables derivatives on credit indices and total return swaps; public feedback invited by Feb 27.</h1> The Reserve Bank has published a draft revised Master Direction consolidating provisions for credit derivatives, including credit default swaps, and proposing enabling provisions for derivatives on credit indices and total return swaps on corporate bonds; public comments are invited by February 27, 2026 by email or postal submission to the Chief General Manager, Financial Markets Regulation Department.