RbiSearchHeader

Press escape key to go back

Past Searches

Theme
Theme
Text Size
Text Size
S1

Notification Marquee

RBI Announcements
RBI Announcements

RbiAnnouncementWeb

RBI Announcements
RBI Announcements

Asset Publisher

79118284

Risk Management and Inter Bank Dealings

RBI/2011-12/569
A.P. (DIR Series) Circular No. 129

May 21, 2012

To,

All Authorised Dealer Category - I Banks

Madam / Sir,

Risk Management and Inter Bank Dealings

Attention of Authorized Dealers Category – I (AD Category – I) banks is invited to para 2 (v) of the A.P.(DIR Series) Circular No.58 dated December 15, 2011 and the subsequent clarifications issued by the Foreign Exchange Dealers’ Association of India(FEDAI) vide its circular SPL-58/Risk Mgmt./2011 dated 21st December 2011 on the Net Overnight Open Position Limit (NOOPL) of the Authorised Dealers.

2. In view of the recent developments in the foreign exchange market, until further review, it has been decided as under:

  1. The current NOOPL of the banks as applicable to the positions involving Rupee as one of the currencies shall not include the positions undertaken in the Currency Futures/Options segment in the exchanges.

  2. The positions in the exchanges (both Futures and Options) cannot be netted/offset by undertaking positions in the OTC market and vice-versa. The positions initiated in the exchanges shall be liquidated/closed in the exchanges only.

  3. The position limit for the trading member AD Category-I bank in the exchanges for trading Currency Futures and Options shall be US$ 100 million or 15 per cent of the outstanding open interest, whichever is lower.

3. Further, the AD Category- I banks are advised that they may bring down their positions to the above limits within June 30, 2012.

4. The directions contained in this circular have been issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act 1999 (42 of 1999) and are without prejudice to permissions/approvals, if any, required under any other law.

Yours faithfully,

(Rudra Narayan Kar)
Chief General Manager

RbiTtsCommonUtility

प्ले हो रहा है
শুনুন

Related Assets

RBI-Install-RBI-Content-Global

RbiSocialMediaUtility

রিজার্ভ ব্যাঙ্ক অফ ইন্ডিয়া মোবাইল অ্যাপ্লিকেশন ইনস্টল করুন এবং সাম্প্রতিক সংবাদগুলিতে দ্রুত অ্যাক্সেস পান!

Scan Your QR code to Install our app

RbiWasItHelpfulUtility

এই পেজটি কি সহায়ক ছিল?