| Date: |
20-04-2007
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| Notification No: |
RBI/2006 2007/333DBOD No BP BC 86/21 04 157/2006 07
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| Issuing Authority: |
RBI
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| Type: |
Master Circular
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| File No: |
RBI/2006-2007/333 |
| Subject: |
Comprehensive Guidelines on Derivatives
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RBI/2006-2007/333
DBOD.No.BP.BC. 86/21.04.157/2006-07
April 20, 2007
Chairmen/ Chief Executive Officers
All Commercial Banks (excluding RRBs),
All India Term-Lending & Refinancing Institutions &
Primary Dealers
Dear Sir,
Comprehensive Guidelines on Derivatives
- As indicated in paragraph 137 of the Mid-term Review of Annual Policy for year 2006-07, an Internal Group was constituted by the Reserve Bank to review the existing guidelines on derivatives and formulate comprehensive guidelines on derivatives by banks.
- Draft comprehensive guidelines on derivatives based on the recommendations of the Group were placed on the RBI website on December 11, 2006 and were open for comments from all concerned.
- Comments were received from a wide spectrum of banks and other market participants. The guidelines have been suitably revised in the light of the feedback received and are furnished in the Annex.
- Guidelines in respect of foreign exchange derivatives will be issued separately.
Yours faithfully,
Prashant Saran
Chief General Manager-in-Charge
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