Revised Guidelines on Credit Default Swaps (CDS) for Corporate Bonds

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Revised Guidelines on Credit Default Swaps (CDS) for Corporate Bonds - News and Press Release Dated:- 7-1-2013 - News - RBI/2012-13/366 IDMD.PCD.No.10 /14.03.04/2012-13 January 7, 2013 All Market Participants Dear Sir/Madam, A reference is invited to the guidelines on CDS issued vide circular IDMD.PCD.No. 5053 /14.03.04/2010-11 dated May 23, 2011. 2. Based on the feedback rece .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ived from the market and suggestions of the Technical Advisory Committee on Money, Foreign Exchange and Government Securities Markets, the existing guidelines have been reviewed and it has been decided as under: i. In addition to listed corporate bonds, CDS shall also be permitted on unlisted but rated corporate bonds even for issues other than infrastructure companies. ii. Users shall be al .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... lowed to unwind their CDS bought position with original protection seller at mutually agreeable or FIMMDA price. If no agreement is reached, then unwinding has to be done with the original protection seller at FIMMDA price. iii. CDS shall be permitted on securities with original maturity up to one year like Commercial Papers, Certificates of Deposit and Non Convertible Debentures with original .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... maturity less than one year as reference / deliverable obligations. 3. Revised guidelines on CDS for corporate bonds incorporating above mentioned changes and consolidating all earlier guidelines issued in this regard are enclosed as Annex . 4. The revised guidelines will be effective from the date of the circular. Yours faithfully, (K.K. Vohra) Chief General Manager - News - Pr .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ess release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X