Page 46 - Banking Fiannce March 2018

FEATURE

Similarly, interest rate options were also permitted sometime For update news on Banking & Finance Industry
back, but market has still not kicked off. Years back RBI
introduced the When Issued market and STRIPS, but neither BANKING FINANCE
has gained traction. A Leading Monthly Journal on Banking & Finance
Covers Schemes
Does all this imply that these interest rate products have RBI Banking 1 Year 750
no use for any participant? Or is it just that the market, Finance Rural/Co-op 3 Year 1500
dominated by banks, is not used to availing of risk Stock Market Risk Management 5 Year 2250
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management options, hoping instead for regulatory Subscribe Now !!
forbearance when episodic yield increase rears its ugly head?
ORDER FORM
Conclusion New Rental Subscription No.
Let me summarize. Market liberalization does not just (Please tick)
involve the regulator easing business processes, introducing Name of Executive :
new products and creating new markets; it also requires Designation:
participants to take initiative to reskill themselves for Company's Name :
constantly evolving market conditions and products. Market Address :
development is a two-way interactive process between
Pincode :
market participants and regulators. We are hoping that
Phone : Mobile :
FIMMDA can rally banks and play its part going forward.
Fax : E.Mail :
Finally, it is encouraging that FIMMDA is developing the Code Publication Order :
of Conduct covering its members’ activities in the interest rate *Scheme Opted : No.of Copies
markets. Along with FEDAI’s recent adoption of the Global (Please mention the scheme name example : It-1, Lit-1 or Combo 4-1)
Foreign Exchange Code, the entire range of bond, currency
Period of Subscription : From to
and related derivative markets would be subject to
Details of payment : Cash/M.O./D.D./Cheque* No
professional conduct in line with best international practice,
once FIMMDA adopts the code. I hope that this process can
be hastened and FIMMDA members adopt the code signing Dt drawn Rs.
it on a public website by the end of the current quarter. Ordinary Registered Post (Please tick)
*For outstation cheque please add Rs.50/- towards bank charges.
References Outstation cheques of metro cities accepted only. No Charges ap-
plicable for payable at per cheques.
1. Viral V. Acharaya, Itamar Drechsler, and Philipp Schnabl
(2012), “A tale of two overhangs: the nexus of financial Do not make any Cash Payment
sector and sovereign credit risks,” Financial Stability for Subcription of Journals Signature of Subcriber
Review, Banque de France, April 2012.
Please tear and send it along with your letter
2. Viral V. Acharaya, Itamar Drechsler, and Philipp Schnabl
(201” Journal of Finance, 69(6), 2689-2739. Mode of Payment
3. Viral V. Acharaya and Sascha Steffen (2015), “The 1. Payable at per Cheque/Demand Draft favouring Sashi Pulbications
‘greatest’ carry trade ever? Understanding Eurozone bank Private Limited, Payable at Kolkata
risks,” Journal of Financial Economics, 115, 215-236. 2. You can directly ECS/Deposit cash in our bank account number
below in your city and send us copy of Pay in slip by email.
4. Bruegel database of sovereign bond holdings developed
A/C Name : Sashi Publications Private Limited
in Merler and Pisani-Ferry (2012) (updated as of March
A/C No. : 402120110000327
2017)- Silvia Merler and Jean Pisani-Ferry, “Who’s afraid Bank : Bank of India
of sovereign bonds”, Bruegel Policy Contribution 2012, Branch : V V K Road Branch., Kolkata, India
February 2012 http://bruegel.org/publications/datasets/ IFSC Code : BKID0004021
sovereign-bond-holdings. Make Online Payment by Credit Card/Debit Card or your net banking
Source : RBI account at our website www.sashipublications.com

46 | 2018 | MARCH | BANKING FINANCE