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RBI-Liquidity Adjustment Facility and Marginal Standing Facility
March, 22nd 2013

RBI/2012-2013/448
FMD.MOAG No. 77 /01.01.001/2012-13

March 19, 2013

All Scheduled Commercial Banks (excluding RRBs)
and Primary Dealers

Madam / Sir,

Liquidity Adjustment Facility and Marginal Standing Facility

Please refer to Reserve Bank circulars IDMD.OMO No.08/03.75.00/2004-05 dated October 27, 2004,FMD.MAOG.No.13/01.01.001/2006-07 dated March 30, 2007 and FMD.No.59/01.18.001/2010-11 dated May 9, 2011.

2. As you may be aware, the margin requirements under the Liquidity Adjustment Facility (LAF) and Marginal Standing Facility (MSF) in respect of Central Government dated securities/ Treasury Bills and State Development Loans (SDLs) currently stand at 5 per cent and 10 per cent respectively.

3. On a review, it has been decided to revise the margin requirements under LAF and MSF operations. Accordingly, the margin requirements in respect of Central Government dated securities/ Treasury Bills and State Development Loans (SDLs) will be 4 per cent and 6 per cent respectively. Thus, the amount of securities offered on acceptance of a bid/ application for Rs.100 crore will be Rs 104 crore (face value) of Central Government dated security/ Treasury Bills or Rs. 106 crore (face value) of SDLs as the case may be.

4. The revised margin requirements would come into force with effect from April 2, 2013. All other terms and conditions of the current LAF and MSF schemes will remain unchanged.

Yours sincerely

(G Mahalingam)
Chief General Manager

 
 
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