FBIL announces the benchmark rates for Certificates of Deposit ( FBIL-CD) on a daily basis except Saturdays, Sundays and public holidays at 5.30 PM. FBIL has developed the FBIL- CD, a new benchmark for the money market based on traded CDs reported on the FTRAC platform of CCIL up to 5 PM. FBIL-CD is announced for seven tenors of 14 days, 1 month, 2 months, 3 months, 6 months, 9 months and 12 months. All trades having a value of Rs.5 crores and above and a minimum of three trades in each tenor are considered for calculating the benchmark for each tenor. In the event of the threshold criteria not being met for any tenor, the benchmark rate thereof is calculated using the FBIL- TBILL rates for that tenor plus a spread. The CCIL is the Calculating Agent."