RBI policy document pushes CCIL closer to QCCP status
Indian regulator takes explicit responsibility for supervising the Mumbai-based clearing house
The decision by the Reserve Bank of India (RBI) to take responsibility for regulating the Clearing Corporation of India Limited (CCIL) and its decision to adopt the CPSS-Iosco principles for financial market infrastructures will push the local clearing house closer to achieving qualified central counterparty (QCCP) status under Basel III rules, according to market participants.
While market participants understood that the RBI was responsible for CCIL, the July 26 notice outlining its regulatory
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