The National Commodity Clearing Limited (NCCL) on June 25, 2024, issued the Scheme of deposit for acceptance of Government Securities, Treasury Bills and Sovereign Gold Bonds as Collateral.
The Clearing Corporation has now revised the list of Government Securities, Treasury Bills and Sovereign Gold Bonds as collateral towards Additional Base Capital (ABC) and the applicable haircuts.
Government Securities, Treasury Bills and Sovereign Gold Bonds as collateral
• Members are permitted to deposit approved Government Securities, Treasury Bills and Sovereign Gold Bonds (Securities) as collateral.
• The Government Securities, Treasury Bills and Sovereign Gold Bonds shall be subject to a haircut as may be decided by the Clearing Corporation from time to time.
• The Clearing Corporation may issue/revise the list of approved Government Securities, Treasury Bills and Sovereign Gold Bonds and the haircut requirements from time to time.
• All Government Securities, Treasury Bills and Sovereign Gold Bonds issued by RBI during the month shall be accepted from the date of issue.
• No benefit shall be provided on the Government Securities, Treasury Bills and Sovereign Gold Bonds that have been discontinued from the approved list.
• The benefit on the approved Government Securities and Treasury Bills shall be withdrawn two days before the maturity of the respective securities including the maturity date.
• Clearing Members who are also Banks may note that Government Securities & Treasury Bills provided as collaterals should not be reckoned for SLR purposes by the Banks and not be used for trading.
[Circular No : NCCL/RISK-032/2024]
