Tuesday, December 10, 2013

RBI's operational guidance on novation to deepen derivatives market

..........As per the conditions laid down by RBI the transferor bank can novate a derivative contract only after the contract has been held by transferor in its books for a minimum period of six months for contracts with original maturity of up to one year, and nine months for contracts with original maturity of more than one year. But RBI said that this condition would not apply in cases where transferor bank is...........

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