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  Liquid Assets

Government Securities

  1. Clearing member 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. Clearing members desirous of providing G-Sec/T-Bills as collateral shall put a request in CIM. Clearing members 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 member 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 clearing members on G-Sec/T-Bills being transferred to the SGL-II account of NSCCL.
     

  6. For release of G-Sec / T-bills, clearing members 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. Clearing member 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 clearing members. The value after applying the hair cut shall be added to the cash component of the liquid assets of the clearing member.
     

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

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


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