RBI constitutes Working Group on Interest Rate Futures

Mumbai, Aug 9 (UNI) With a view to analyse interest rate futures and put focus on product design issues, RBI today constituted a working group.

The group, which will be chaired by RBI executive director V.K.

Sharma, will review the experience in interest rates and will make recommendations in a handful of matters, RBI said in a statement.

These include the alignment of regulatory guidelines for banks in Interest rate futures with those for their participation in Interest rate swaps, scope of participation of non-residents including Foregin Institutional Investors (FIIs) in interest rate futures and other related issues.

The Group would submit its report to RBI in a period of three months.

UNI