Brief Overview:

RBI has mandated reporting of the following FX contracts undertaken by AD Banks (including its overseas branches, IFSC Banking Units, wholly owned subsidiaries, and joint ventures) involving INR or otherwise on trade repository (“TR”) of Clearing Corporation of India Limited (“CCIL”):

1) FX cash;

2) FX tom; and

3) FX spot.

Technical Details:

1) Implementation of the reporting requirements will be in a phased manner.

2) No requirement of matching transactions with overseas counterparties and client transactions on the TR. AD banks will be responsible for ensuring the accuracy in respect of transactions reported.

3) The reporting formats are yet to be notified by CCIL.

JC takeaway:

This will ensure completeness of transaction data in TR for all FX instruments.

For further details, please see:

Reserve Bank of India – Notifications

For any queries/clarifications, please feel free to ping us and we will be happy to chat: