Notifications

Withdrawn with effect from November 16, 2021

(592 kb)
Introduction of Credit Default Swaps for Corporate Bonds: Date for Operationalisation Changed

RBI/2011-12/228
IDMD.PCD.No. 12/14.03.04/2011-12

October 20, 2011

The Chairmen & Chief Executive Officers of all
Scheduled Commercial Banks (excluding RRBs),
Standalone Primary Dealers and Non Banking Financial Companies

Dear Sir/Madam,

Introduction of Credit Default Swaps (CDS) for Corporate Bonds: Change in effective date for operationalisation

A reference is invited to para 4 of the RBI circular of IDMD.PCD.No.  5053 /14.03.04/ 2010-11 dated May 23, 2011 wherein it was indicated that the guidelines on CDS would be effective from October 24, 2011. Necessary infrastructure which includes trade repository, documentation, publication of CDS curve for valuation, standardisation of contracts, etc. required for the launch of the product is being put in place. Further, market participants have asked for certain clarifications regarding documentation, operational aspects, and the arrangement for the necessary institutional framework.

2. In view of the above, the matter has been reviewed and it has been decided to operationalise CDS guidelines issued in May 2011 by the end of November 2011. The exact date will be notified shortly.

Yours faithfully,

(Sanjay Hansda)
Director & Officer-in-Charge

Related Press Releases/Notification

Oct 20, 2011

RBI changes Date for Operationalisation of CDS Guidelines for Corporate Bonds

May 24, 2011

RBI releases Guidelines on Introduction of CDS for Corporate Bonds

May 24, 2011

Guidelines on Credit Default Swaps (CDS) for Corporate Bonds


2022
2021
2020
2019
2018
2017
2016
2015
2014
2013
Archives
Top