Maintenance of collateral by FIIs for transactions in derivative segment- Opening of demat accounts by Clearing Corporations and Clearing Members

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..... o. 02 July 19, 2007 To All Category - I Authorised Dealer Banks Madam / Sir, Maintenance of collateral by FIIs for transactions in derivative segment- Opening of demat accounts by Clearing Corporations and Clearing Members Attention of Authorised Dealer Category - I (AD Category - I) banks is invited to Foreign Exchange Management (Transfer or Issue of any foreign Security) .....

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..... cquire, hold, pledge and transfer the foreign sovereign securities, offered as collateral by FIIs; ii) to remit the proceeds arising from corporate action, if any, on such foreign sovereign securities; and iii) to liquidate such foreign sovereign securities if the need arises. 3. Clearing Corporations shall report, on a monthly basis, the balances of foreign sovereign securities, held by them .....

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