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Sep 15nth-New Economic Terms and Concepts - Coggle Diagram
Sep 15nth-New Economic Terms and Concepts
BNQFC
Bilateral Netting of Qualified Financial Contracts Bill
Bilateral netting refers
offsetting claims
arising from dealings
btw two bank parties
determine
net amount payable or
receivable from one party to other
legally enforceable
arrangement btw
bank and counterparty
create
single legal obligation
covering all included
individual contracts
Qualified financial contracts
any bilateral contract
notifies as QFC
by relevant authority
Authority
RBI, SEBI
Insurance Regulatory and Development Authority of India (IRDAI)
Pension Fund Regulatory and Development Authority (PFRDA)
International Financial Services Centres Authority (IFSCA)
Financial stability
will have buoyant market
result
business have greater
affordable resources
provide
legal framework for BNQFC
which are over
counter derivatives contracts
bill would improve
investor confidence and
expand the scope of credit default swaps