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Government Securities

  1. Member/ custodians desirous of providing G-Sec / T-Bills shall enter into an agreement with NSCCL as per the format.
     

  2. NSCCL shall prescribe list of G-Sec/T-Bills that shall be eligible for acceptance as collateral from time to time.

  3. G-sec/T-bill shall be accepted as collateral only in electronic form. Members/custodians desirous of providing G-Sec/T-Bills as collateral shall put a request in CIM. Members/ custodian shall further be required to enter the transaction on NDS under Settlement-Transfer Order-Clearing Agency Contribution by 3.30 pm. NSCCL shall confirm the transaction entered on the NDS, based on the information received from Members/custodians through fax.
     

  4. The details of NSCCL - SGL-II account is as follows:
     
    Name of the Account   National Securities Clearing Corporation Limited
    Member ID   BYA00168
    SGL – II A/c No. SG020168

     

  5. The benefit of G-Sec/T-bills provided as collaterals shall be passed on immediately to members /custodians on G-Sec/T-Bills being transferred to the SGL-II account of NSCCL.
     

  6. For release of G-Sec / T-bills, members/ custodians shall put a request in CIM. The release of G-Sec/T-Bill shall be processed only at end of day. The G-sec/T-bill released by NSCCL shall be entered on NDS under Settlement-Transfer Order-Clearing Agency Withdrawal. Member/custodian shall ensure that such transactions are approved on NDS at their end.
     

  7. G-Sec/T-Bill shall be valued daily based on previous day’s MTM prices as specified by CCIL.
     

  8. A hair cut of 10% shall be applied on the value of G-Sec/T-bill provided as collateral by members/ custodians. The value after applying the hair cut shall be added to the cash component of the liquid assets of the member / custodian.
     

  9. Periodic coupon / redemption payments received on the G-Sec/T-Bills provided by member/ custodian shall be passed on to member / custodians by NSCCL immediately upon receipt of relative interest/redemption payment from Reserve Bank of India.
     

  10. In case any of the approved G-Sec is in ‘SHUT PERIOD’, members / custodians shall not be allowed for request for addition / release of such G-Sec.
    List of Government securities to be accepted as collateral


Liquid assets in: Cash | Bank Guarantees | Bank Fixed Deposits | Securities




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