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TMI BlogMaster Direction – Risk Management and Inter-Bank Dealings: AmendmentsX X X X Extracts X X X X X X X X Extracts X X X X ..... thorisation under Section 10(1) of the Foreign Exchange Management Act (FEMA), 1999 pursuant to notification no. DNBR (PD) CC.No.094/03.10.001/2018-19 July 27, 2018. Accordingly, amendments are being made in the Master Direction to reflect the applicability of the provisions to SPDs. These amendments are placed at Annex I herewith. SPDs shall continue to comply with all applicable Directions issued by the Reserve Bank of India. 3. Additionally, directions on reporting of OTC foreign exchange derivative contracts and foreign currency interest rate derivative contracts to the Trade Repository of Clearing Corporation of India Ltd. have been updated and incorporated in Part E of the Master Direction. Certain directions on reporting relating to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e. For the purpose of these Directions, Authorised Dealer shall mean Authorised Dealer Category - I banks and Standalone Primary Dealers authorised as Authorised Dealer Category - III, unless stated otherwise. Any specific reference solely to Authorised Dealer Category-I banks shall not be applicable for Standalone Primary Dealers. Para 4 and 5 of Part A (Section III) shall be removed and a new para shall be inserted after Para 6 (b) of Part A (Section III). (iii) - (c) While participating in the ETCD market, AD Category-I banks shall comply with the Master Direction Reserve Bank of India (Financial Services provided by Banks) Directions, 2016 dated May 26, 2016, as amended from time to time and Standalone Primary Dealers authorised as Auth ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 001, within 15 days from the close of the month in which the limit was exceeded. Such a report is not necessary if arrangements exist for value dating. Para A (i) of Annex I shall be substituted (vii) i. Net Overnight Open Position Limit (NOOPL) for calculation of capital charge on forex risk NOOPL may be fixed by the boards of the respective banks and communicated to the Reserve Bank immediately. However, such limits should not exceed 25 percent of the total capital (Tier I and Tier II capital) of the bank. i. Net Overnight Open Position Limit (NOOPL) for calculation of capital charge on forex risk NOOPL may be fixed by the boards of the respective Authorised Dealers and communicated to the Reserve Bank immediately through Centralised Info ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... every quarter as per the format given in Annex-V. ADs should submit this report as per the revised format online only from quarter ended September 2013 through the Extensible Business Reporting Language (XBRL) system which may be accessed at https://secweb.rbi.org.in/orfsxbrl/. AD Category I banks which require login ID / passwords for accessing XBRL system may submit their e-mail addresses and contact numbers to [email protected]. Please note that details of exposures of all corporate clients who meet the prescribed criteria have to be included in the report. The AD banks should submit this report based on bank's books and not based on corporate returns. Authorised Dealers should forward details of exposures in foreign exchange as at ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 0th of the following month. Para (x) of Part E shall be substituted. (v) The Head/Principal Office of each AD Category-I banks should furnish an up-to-date list (in triplicate) of all its offices/branches, which are maintaining Rupee accounts of non-resident banks as at the end of December every year giving their code numbers allotted by Reserve Bank. The list should be submitted before 15th January of the following year. The offices/branches should be classified according to area of jurisdiction of Reserve Bank Offices within which they are situated. The report may also be forwarded by e-mail so as to reach the Department by the 10th of the following month. The Head/Principal Office of each AD Category I banks should furnish an up-to-date ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... viii) - B. REPORTING TO THE TRADE REPOSITORY (i) Authorised Dealers should report all OTC foreign exchange derivative contracts and foreign currency interest rate derivative contracts, undertaken by them directly or through their overseas entities 1 (including overseas branches, IFSC Banking Units, wholly owned subsidiaries and joint ventures of Authorised Dealers), to the Trade Repository (TR) of Clearing Corporation of India Ltd. (CCIL) as per the following timelines: Inter-bank foreign exchange derivative contracts involving INR (except currency swaps and structured derivatives) should be reported in hourly batches within 30 minutes from completion of the hour. Such contracts executed 30 minutes prior to closure of CCIL s reporting platf ..... X X X X Extracts X X X X X X X X Extracts X X X X
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