https://www.taxtmi.com/circulars?id=12093 Revised guidelines establish dual exposure limits for Authorised Dealers: a Net Overnight Open Position Limit (NOOPL) for capital charge and a NOP INR for exchange rate management. NOOPL is board set subject to a capital related cap; positions are measured per currency by aggregating net spot, forward and delta equivalent options, PV adjusted using an approved yield curve and combined by the shorthand method. Offshore exposures are calculated standalone and aggregated with onshore exposures for reporting. Exchange positions cannot be netted with OTC positions and ALCO/Internal Audit must monitor compliance and maintain audit trails. en-us Fri, 01 Mar 2013 00:00:00 +0530 Sat, 02 Mar 2013 13:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=12093 Revised guidelines establish dual exposure limits for Authorised Dealers: a Net Overnight Open Position Limit (NOOPL) for capital charge and a NOP INR for exchange rate management. NOOPL is board set subject to a capital related cap; positions are measured per currency by aggregating net spot, forward and delta equivalent options, PV adjusted using an approved yield curve and combined by the shorthand method. Offshore exposures are calculated standalone and aggregated with onshore exposures for reporting. Exchange positions cannot be netted with OTC positions and ALCO/Internal Audit must monitor compliance and maintain audit trails. Circulars FEMA Fri, 01 Mar 2013 00:00:00 +0530 https://www.taxtmi.com/circulars?id=12093