| Date : 24 Oct 2007 |
|RBI places revised Draft Guidelines on CDS on Website |
Rerserve Bank of India today placed on its website the revised draft
guidelines on Credit Default Swaps (CDS) for a second round of consultation.
The revised draft will be available for comments/feedback for a period of fifteen
days. Comments may please be sent to the Chief General Manager-in-Charge, Department
of Banking Operations and Development, Reserve Bank of India, 12th Floor, Central
Office Building, Shahid Bhagat Singh Marg, Fort, Mumbai-400001, Fax +91-22-22705691.
Comments could also be emailed.
may be recalled that the Annual Policy Statement 2007-08 had indicated that as
part of the gradual process of financial sector liberalisation in India, it is
considered appropriate to introduce credit derivatives in a calibrated manner.
In view of the complexities involved, the Reserve Bank of India, initially issued
the guidelines for introduction of credit default swaps as a draft, and placed
the draft guidelines on public domain on May 16, 2007 inviting comments/feedback.
The draft guidelines have been revised in the light of the extensive feedback
Chief General Manager
Release : 2007-2008/564