The Clearing Corporation of India Ltd (CCIL) on October 27, 2023, issued a notification regarding the timing for the submission of Collateral Notices.
The following has been stated: -
•Members are requested to strictly adhere to the timelines mentioned in the document attached below. No credit of funds to CCIL’s RTGS Settlement account at the Reserve Bank of India or in the current account with settlement Bank(s), shall be accounted for unless it is followed with a notice of deposit within the collateral notice submission time as above. In case of any funds receipt for which notice of deposit is not received during the day it shall be accounted for on the next business day immediately after a notice of deposit is received by CCIL, giving details of the funds remitted. In such cases, the credit to the Member’s margin account shall be available on the business date on which notice of deposit is received by CCIL.
•The cut-off timing for submission of notices in respect of collateral workflow for MCC/ Triparty Repo Collateral/FX/CLS Collateral and Default Fund/s, shall continue as above, till such time this notification is revised.
The detailed notification is given in the document attached below.
[Notification No. CCIL/OPS/ 2023-24/ 50]
