Acceptance of Fixed Deposit Receipts (FDRs) by Clearing Corporations

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....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 Commissions (IOSCO) has implemented various standards of t....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ssociate' 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 the circular. 5) Clearing corporations are directed to: a) take ....