The National Commodity Clearing Limited (NCCL) on September 26, 2024, issued the Scheme of deposit for acceptance of Government Securities, Treasury Bills and Sovereign Gold Bonds as Collateral.
The following has been stated:
• Government Securities, Treasury Bills and Sovereign Gold Bonds as collateral:
o The Members are permitted to deposit approved Government Securities, Treasury Bills and Sovereign Gold Bonds (Securities) as collateral.
o 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.
o 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.
• Valuation:
o The valuation of units of the Government Securities, Treasury Bills and Sovereign Gold Bonds shall be done on daily basis
o Government Securities, Treasury Bills – From the prices disseminated by the Clearing Corporation of India Ltd. (CCIL)
o Sovereign Gold Bonds – From the prices disseminated by NSE
o The above valuation shall be reduced by the relevant haircut percentage to arrive at the collateral value. Only the value net of haircut so arrived shall be considered as the value of such securities.
• The given list will be applicable from beginning of trading day of October 01, 2024.
The revised list of Government Securities, Treasury Bills and Sovereign Gold Bonds along with the haircut details is provided in Annexure 1.
[Notification No NCCL/RISK- 054/2024]
