Description

Updated list of Sovereign Gold Bonds, G-Sec, and T-Bills accepted as collateral for liquid assets with applicable haircuts.

Summary

NSE has issued a revised list of approved securities and banks, specifically updating the list of Sovereign Gold Bonds (SGBs), Government Securities (G-Sec), and Treasury Bills (T-Bills) that can be accepted as collateral forming part of the cash component of liquid assets. The circular includes 45+ SGBs with maturity dates ranging from 2025 to 2030, all with a standardized haircut of 10%.

Key Points

  • All Sovereign Gold Bonds, G-Sec, and T-Bills issued by RBI during the month are accepted from the date of issue
  • Standardized haircut of 10% (0.1) applied to all listed SGBs
  • SGBs listed have interest rates of 2.50% and 2.75%
  • Maturity dates span from 2025 to 2030
  • List includes detailed ISIN codes and security descriptions for each approved instrument

Regulatory Changes

Routine update to the approved collateral list with no fundamental changes to the acceptance criteria or haircut methodology.

Compliance Requirements

  • Market participants must use only the securities listed in the updated annexure for collateral purposes
  • Apply the specified 10% haircut when calculating liquid asset values
  • Ensure compliance with the revised list for all collateral-related transactions

Important Dates

  • Effective Date: August 21, 2025
  • All RBI-issued securities during the month are accepted from their respective issue dates

Impact Assessment

Medium impact on market participants who use these securities as collateral. The update ensures current and accurate collateral valuation for liquid asset calculations, maintaining market stability and regulatory compliance.

Impact Justification

Routine update of approved collateral list affecting market participants' liquid asset calculations