Description

ICCL updates the list of 32 eligible banks for collateral purposes as per SEBI norms for clearing corporations.

Summary

Indian Clearing Corporation Ltd (ICCL) has issued a revised list of 32 eligible banks for collateral purposes, effective as of August 26, 2025. This update follows SEBI circular SEBI/HO/MRD/MRD-PoD-3/P/CIR/2024/65 dated May 29, 2024, and continues the implementation of norms for acceptable collaterals and exposure of clearing corporations.

Key Points

  • Updated list contains 32 eligible banks for collateral purposes
  • Banks meet criteria specified in Section 3.2 of SEBI circular
  • Includes major domestic and international banks
  • List effective as of August 26, 2025
  • Applies to all members, custodians, PCMs, and banks

Regulatory Changes

The circular implements ongoing SEBI regulations regarding acceptable collaterals for clearing corporations, updating the previously published list from March 20, 2025 circular (20250320-1).

Compliance Requirements

  • All clearing members must use only banks from the approved list for collateral purposes
  • Members must ensure compliance with collateral norms as specified in SEBI regulations
  • Banks on the list meet specific financial and operational criteria

Important Dates

  • Effective Date: August 26, 2025
  • Reference SEBI Circular: May 29, 2024
  • Previous ICCL Circular: March 20, 2025

Impact Assessment

This update ensures that only financially sound and compliant banks are eligible for collateral purposes, enhancing the risk management framework of the clearing corporation. The comprehensive list of 32 banks provides sufficient options for market participants while maintaining regulatory compliance standards.

Impact Justification

Updates bank eligibility list affecting collateral management for clearing members