Financial Benchmark Administrators (Reserve Bank) Directions, 2019

RBI/2019-20/133
FMRD.FMSD.22/03.07.035/2019-20

January 01, 2020

To

All the Financial Benchmark Administrators

Dear Sir/Madam

Financial Benchmark Administrators (Reserve Bank) Directions, 2019

Please refer to the Financial Benchmark Administrators (Reserve Bank) Directions, 2019, dated June 26, 2019.

2. As provided in paragraph 3(i) of the above directions, the Reserve Bank hereby notifies the following benchmarks administered by Financial Benchmarks India Pvt. Ltd. (FBIL) as a ‘significant benchmark’:

1.      Overnight Mumbai Interbank Outright Rate (MIBOR)

2.      Mumbai Interbank Forward Outright Rate (MIFOR)

3.      USD/INR Reference Rate

4.      Treasury Bill Rates

5.      Valuation of Government Securities

6.      Valuation of State Development Loans (SDL)

3. Further, in terms of paragraph 3(ii) of the above directions, the person administering the ‘significant benchmark’, shall make an application to the Reserve Bank within a period of three months from the date of this notification for authorization to continue administering these benchmarks.

4. This notification has been issued by the Reserve Bank as required under the Financial Benchmark Administrators (Reserve Bank) Directions, 2019, dated June 26, 2019.

Yours faithfully

(Saswat Mahapatra)
Deputy General Manager

 

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