CCIL set to clear FX forwards
MUMBAI - The Clearing Corporation of India's (CCIL) initiative to guarantee currency forwards is likely to go live within the next two to three months, following the Reserve Bank of India's (RBI) clarifications in its annual policy statement last week (April 21).
The RBI had already given its backing to the scheme, but the final obstacle was information on the credit risk weight ascribed for exposure to central counterparties (CCPs) (FX Week, March 9). In last week's statement, the RBI confirmed
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