MANU/RMIC/0096/2018

Ministry : Reserve Bank of India

Department/Board : RBI

Circular No. : FMRD.FMID.No.10/11.01.007/2018-2019
                   RBI/2018-2019/83

Date : 29.11.2018

Notification/ Circulars Referred : RBI circular FMRD.FMID No. 14/11.01.007/2016-17 dated June 1, 2017 MANU/RMIC/0068/2017;RBI Circular DBR.No.BP.BC.92/21.04.048/2017-18 dated November 2, 2017 MANU/RMIC/0143/2017

Citing Reference:
RBI circular FMRD.FMID No. 14/11.01.007/2016-17 dated June 1, 2017 MANU/RMIC/0068/2017  Referred

RBI Circular DBR.No.BP.BC.92/21.04.048/2017-18 dated November 2, 2017 MANU/RMIC/0143/2017  Referred

To

All eligible market participants

Dear Sir/Madam

Legal Entity Identifier Code for participation in non-derivative markets

The Legal Entity Identifier (LEI) code has been conceived of as a key measure to improve the quality and accuracy of financial data systems for better risk management post the Global Financial Crisis. The LEI is a 20-character unique identity code assigned to entities who are parties to a financial transaction. Globally, use of LEI has expanded beyond derivative reporting and it is being used in areas relating to banking, securities market, credit rating, market supervision, etc. (https://www.gleif.org/en/about-lei/regulatory-use-of-the-lei). The LEI system has been implemented in a phased manner for participants (other than individuals) in the over-the-counter markets for rupee interest rate derivatives, foreign currency derivatives and credit derivatives in India in terms of RBI circular FMRD.FMID No. 14/11.01.007/2016-17 dated June 1, 2017 and for large corporate borrowers of banks in terms of RBI Circular DBR.No.BP.BC.92/21.04.048/2017-18 dated November 2, 2017.

2. In the Statement on Developmental and Regulatory Policies, First Bi-monthly Monetary Policy Statement for 2018-19 (Paragraph No. 8), dated April 05, 2018, it was prop........