CD Rate
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.