Acceptance of Fixed Deposit Receipts (FDRs) by Clearing Corporations

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....eipts of banks are accepted by Clearing Corporations as eligible collateral from the participants. 2) It is observed that some banks who are also trading members/ clearing members on the Stock Exchange/Clearing Corporation have placed Fixed Deposit Receipts issued by themselves as Collateral, with the Clearing Corporation. 3) SEBI as a member of the International Organization of Securities C....

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....ing/ clearing member. Explanation - for this purpose, 'associate' shall have the same meaning as defined under Regulation 2 (b) of SECC Regulations 2012. b) Trading/Clearing Members who have deposited their own FDRs or FDRs of associate banks shall replace such collateral, with other eligible collateral as per extant norms, within a period of six months from the date of issuance of t....