08 October 2009

RBI - Reg. OTC Interest Rate Derivatives

Reporting of OTC Interest Rate Derivatives – Client Level Transactions

RBI/2009-10/ 177
FMD/MSRG/40 /01.14.001/2009- 2010

October 5, 2009


All Scheduled Commercial Banks  (excluding RRBs and LABs) and Primary Dealers.

Dear Sir,

Reporting of OTC Interest Rate Derivatives – Client Level Transactions

Please refer to our circular IDMD 809/11.08.15/ 2007-08 dated August 23, 2007 wherein banks and Primary Dealers were advised to report all transactions in interest rate swaps and forward rate agreements, excluding client trades, on the reporting platform developed by CCIL for this purpose. With a view to accessing complete information on this segment of the market, it has now been decided to collect the details of client trades in respect of IRS transactions. Accordingly, banks and PDs are advised to report the IRS transactions entered into with their clients in the format enclosed on a weekly basis to the Financial Markets Department.

2. The information should be in data format and sent to the Chief General Manager, Financial Markets Department in both hard as well as in soft copy by the second day of the following week to which it pertains. The soft copy should be emailed. The first such report should pertain to the week ending October 16, 2009.

3. There is no change in the reporting by banks and PDs to CCIL as is being done currently.

Yours sincerely

Chief General Manager

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