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Guidelines on Capital Adequacy and Exposure Norms for Credit Default Swaps (CDS)


 Notice Date : 30 November 2011

 Guidelines on Capital Adequacy and Exposure Norms for Credit Default Swaps (CDS)

RBI / 2011-12/287

IDMD.PCD.No.  2301/14.03.04/2011
12

November 30, 2011

 

All Standalone Primary Dealers

 

Dear Sir/Madam,

Guidelines on Capital Adequacy and Exposure Norms for Credit Default Swaps (CDS)

 

Please refer to the guidelines on Credit Default Swaps on corporate bonds issued vide Circular IDMD.PCD.No. 5053 / 14.03.04 / 2010-11 dated May 23, 2011.  As indicated in paragraph 3.5 of the circular, market participants will have to follow the capital adequacy guidelines for CDS issued by their respective regulators. Accordingly, guidelines on capital adequacy and exposure norms to standalone Primary Dealers (PDs) undertaking CDS transactions are enclosed as Annex.

 

2.         These guidelines become effective from December 1, 2011.

Yours faithfully,

(K.K. Vohra)

Chief General Manager

 

 

Guest
on 01 December 2011
Notification No : RBI / 2011-12/287
Published in Others
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