changes in Guidelines on sale of Financial Assets

Guidelines on Sale of Financial Assets to Securitisation Company / Reconstruction Company and Related Issues

RBI/2014-15/508 DBR.No.BP.BC.78/21.04.048/2014-15 March 20, 2015 All Scheduled Commercial Banks (Excluding Regional Rural Banks) Dear Sir, Guidelines on Sale of Financial Assets to Securitisation Company / Reconstruction Company and Related Issues Please refer to paragraph 6 of the circular DBOD.BP.BC.No.96/21.04.048/2002-03 dated April 23, 2003, wherein disclosure requirements relating to sale of non-performing assets (NPAs) to Securitisation Companies(SCs)/Reconstruction Companies(RCs)  have been specified. 2. In this connection, to enhance transparency, it has been decided that in addition to the disclosure requirements quoted in the above paragraph, banks shall make the following disclosures in the Notes to Accounts in their Annual Financial Statements: (In Rs. Crore) Particulars Backed by NPAs sold by the bank as underlying Backed by NPAs sold by other banks/ financial institutions/ non-banking financial  companies as underlying Total Previous Year Current Year Previous Year Current Year Previous Year Current Year Book value of investments in security receipts Yours faithfully, (Sudarshan Sen) Chief General Manager-in-Charge