Review of Securities Lending and Borrowing (SLB) Framework

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....nges 2. Managing Director and CEO, NSDL 3. Managing Director and CEO, CDSL Dear Sir/ Madam, Sub: Review of Securities Lending and Borrowing (SLB) Framework The framework for SLB was specified vide circular no. MRD/DoP/SE/Dep/Cir- 14 /2007 dated December 20, 2007 and was operationalised with effect from April 21, 2008. The SLB framework was revised vide circular no. MRD/DoP/SE/Cir-31....

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....curities anytime before completion of the contract, the AI on a best effort basis shall try to borrow the security for the balance period and pass it onward to the lender. The AI will collect the lending fee from the lender who has sought early recall. 5. In case of early recall by the lender, the original contract between the lender and the AI will exist till the contract with the new le....

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....rovisions, as specified in SEBI circular no. MRD/DoP/SE/Dep/Cir-14/2007 dated December 20, 2007 and circular no. MRD/DoP/SE/Cir- 31/2008 dated October 31, 2008 shall continue to be applicable. 10. Exchanges and Depositories are advised to a. take necessary steps and put in place necessary systems for implementation of the above at the earliest; b. make necessary amendmen....