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NOTICES
Notice No.   20230523-37   Notice Date   23 May 2023
Category   Settlement/RMS   Segment   General
Subject   Reporting of Bank Guarantees (BGs) created out of clients’ funds
Attachments   BG breakup.xls ;
Content

All Clearing Members

 

This is with reference to SEBI Circular SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR//2023/061 dated April 25, 2023, on Bank Guarantees (BGs) created out of clients’ funds.

 

As mandated by SEBI in the circular, Clearing Members are required to report breakup of Bank Guarantee (BG) placed as collateral with ICCL on a weekly basis.

 

The break up of BG details in the specified format needs to be sent in excel (format enclosed) by email

 

Members may please note that the provisions of this circular are effective from May 24, 2023, and first submission of this data shall be for the week ended May 27, 2023 to be submitted by EOD of May 27, 2023, and for every week thereafter.

 

Excel format for reporting is enclosed as Annexure.

 

Members are requested to send the data by email by May 27, 2023 to the email id iccl.membership@icclindia.com with the subject: Collateral data as on May 27, 2023

 

Members are advised to take note of the same and ensure compliance by sending the data to ICCL every week after changing date in the email subject line.

 

For and on behalf of

Indian Clearing Corporation Limited

 

Roanna Lewis

Sr. Manager

Membership & Inspection