January 7, 2013
All Market Participants
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Revised Guidelines on Credit Default Swaps (CDS) for Corporate Bonds
A reference is invited to the guidelines on CDS issued vide circular IDMD.PCD.No. 5053 /14.03.04/2010-11 dated May 23, 2011.
2. Based on the feedback received from the market and suggestions of the Technical Advisory Committee on Money, Foreign Exchange and Government Securities Markets, the existing guidelines have been reviewed and it has been decided as under:
3. Revised guidelines on CDS for corporate bonds incorporating above mentioned changes and consolidating all earlier guidelines issued in this regard are enclosed as Annex.
4. The revised guidelines will be effective from the date of the circular.
Chief General Manager