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Credit Default Swaps - Derivative under RBI Act, 1934


 Notice Date : 19 October 2011

 RBI/2011-12/227

IDMD.PCD. 11 /14.03.04/2011-12

October 19, 2011

All market participants

Dear Sir/Madam,

Notification of Credit Default Swaps as a derivative under Reserve Bank of India Act, 1934

Reserve Bank of India having considered it necessary in public interest and to regulate the financial system of the country to its advantage, in exercise of powers conferred under Sections 45 U (a) and 45 V of the RBI Act, 1934 has issued notification specifying Credit Default Swap as a derivative for the purposes of Chapter IIID of the said Act.

2. A copy of the said notification IDMD.PCD.10 /ED (RG) - 2011 dated October 19, 2011 is enclosed.

Yours faithfully,

(Sanjay Hansda)

Director


RESERVE BANK OF INDIA

INTERNAL DEBT MANAGEMENT DEPARTMENT

23rd FLOOR, CENTRAL OFFICE, FORT

MUMBAI 400 001

NOTIFICATION

IDMD.PCD. 10 /ED (RG) - 2011 dated October 19, 2011

In exercise of powers conferred by Sections 45U (a) and 45V of the Reserve Bank of India Act, 1934 [Act No 2 of 1934], the Reserve Bank hereby specifies Credit Default Swap as a derivative for the purposes of Chapter IIID of the said Act.

(R. Gandhi)

Executive Director

 

Guest
on 20 October 2011
Notification No : IDMD.PCD. 11 /14.03.04/2011-12
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