MUMBAI, Jan 1 (Reuters) - The Reserve Bank of India has
granted qualified central counterparty status to Clearing Corp
of India Ltd (CCIL) on Wednesday which will allow banks to
eliminate various counterparty exposure risks.
While the CCIL was already guaranteeing transactions in
government securities and collateralised borrowing and lending
obligation (CBLO), from now on, it will also be able to
guarantee the dollar/rupee trades, interest rate derivatives and
forward rate agreements.
CCIL is the settlement platform authorised and supervised by
the RBI and was accorded the qualified CCP licence following the
rules consistent with the principles for financial market
(Reporting by Suvashree Dey Choudhury; Editing by Anand Basu)