Description
NSE Clearing adds JP Morgan Chase Bank to the list of approved banks for submitting Fixed Deposit Receipts in electronic form as collateral.
Summary
NSE Clearing Limited has added JP Morgan Chase Bank to the list of approved banks authorized to provide Fixed Deposit Receipts (FDRs) in electronic form as collateral for clearing members under the Securities Lending & Borrowing Scheme.
Key Points
- JP Morgan Chase Bank added to approved banks list for electronic FDR submission
- Electronic FDRs can be used as collateral by clearing members
- Members can register for email and SMS notifications for FDR addition and renewal through NMASS module
- Contact details provided for collateral operations queries
Regulatory Changes
Expansion of approved bank list to include JP Morgan Chase Bank for electronic Fixed Deposit Receipt services.
Compliance Requirements
- Participants and custodians can utilize JP Morgan Chase Bank for electronic FDR collateral
- Members encouraged to register email IDs and mobile numbers under NMASS module
- Subscribe to “Electronic Addition/Renewal of FDR” notifications via email or SMS
Important Dates
- Circular Date: August 8, 2025
- Effective immediately upon publication
Impact Assessment
Minimal operational impact. Provides clearing members with additional banking option for electronic FDR collateral submission, potentially improving operational efficiency and flexibility in collateral management.
Impact Justification
Administrative update adding one bank to approved list for electronic FDR submission