RBI/2019-20/132
FMRD.FMID No.23/02.05.002/2019-20

January 01, 2020

All Category-I Authorised Dealer Banks

Madam/Sir,

Reporting of OTC Currency Derivative transactions to trade repository

Please refer to our circular FMD.MSRG.No.94/02.05.002/2013-14 dated December 04, 2013 on the captioned subject, wherein a threshold of USD 1 million, and equivalent thereof in other currencies, was stipulated for reporting client transactions in currency derivatives (currency swaps and FCY FRA/IRS) to the Trade Repository (TR).

2. It has now been decided that all client transactions in currency derivatives, including those with notional amount of below USD 1 mn, shall now be reported to the TR, with effect from January 06, 2020.

3. As a one-time measure, in order to update the transactions in the Trade Repository, AD Category – I banks shall report all outstanding client transactions with notional amount below USD 1 mn to the TR by January 31, 2020.

4. These directions are issued under section 45W of RBI Act and shall come into force with effect from the date of these directions.

Yours faithfully

(Manoj Kumar)
Deputy General Manager