The Clearing Corporation of India Ltd. (CCIL) on October 27, 2023, issued a notification regarding the Collateral Work-Flow Procedure for Triparty Repo Margin/Collateral and Default Fund – Tri party Repo.
The following has been stated namely: -
• This is applicable to:
1. Members maintaining SGL account with RBI and Current Account with RBI or Designated Settlement Bank (DSB))
2. Members maintaining Current Account with Designated Settlement Bank (DSB) and Gilt Account with DSB / CSGL Account Holder
• The workflow process relating to contribution and withdrawal of funds and securities, towards Tri party Repo collateral (Initial Margin and Borrowing Limit) and Default Fund (Tri party Repo) has been detailed.
• Members shall ensure that a minimum cash collateral contribution of Rs. 1,00,000/- is maintained for itself and each of its constituents as initial margin in Triparty Repo, at all times. The contribution/withdrawal of funds towards Tri party Repo shall be in multiples of Rs. 1,000 and Securities (face value) towards Tri party Repo collateral / Default Fund shall be in multiples of Rs. 1,00,000/-.
• The Deposit and Withdrawal Procedure for the following has been stated namely: -
1. Funds Deposit/Withdrawal
2. Securities Contribution/Withdrawals
This is with effect from November 27, 2023
[Notification No. CCIL/OPS/TPR/2023-24/ 51]
