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SEBI inks pact with ESMA for information exchange on CCPs

Markets regulator Securities and Exchange Board of India (SEBI) has entered into a Memorandum of Understanding (MoU) with the European Securities and Markets Authority (ESMA).

The MoU was signed for exchange of information concerning Central Counterparties (CCPs) under the European Markets Infrastructure Regulation (EMIR). CCPs are entities that help facilitate clearing and settlement activities.

Key Facts

The MoU establishes cooperation arrangements, including exchange of information regarding CCPs which are established and authorised or recognised in India by SEBI and which have applied for EU recognition under EMIR.

EMIR provides for signing of a cooperation arrangement between ESMA and relevant non-EU authorities, whose legal and supervisory framework for CCPs have been deemed equivalent to EMIR by the European Commission. Signing of MoU is one of the conditions for recognition of third country CCPs by ESMA under EMIR.

About Central Counterparty (CCP)

CCP is a corporate entity that exists in various European countries to help facilitate trading done in European derivatives and equities markets. It reduces counterparty, operational, settlement, market, legal and default risk for traders. It provides efficiency and stability to the financial markets in which they operate. CCP bear most of the credit risk of buyers and sellers when clearing and settling market transactions.

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SBI launches ‘SBI Realty’ portal for home buyers

India’s largest commercial bank State Bank of India (SBI) launched SBI Realty, a dedicated portal that will help home buyers to choose flats from its 3,000 approved projects across the country.

SBI Realty will be a one stop integrated website for home buyers. It will help customers to choose their dream home from 3,000 SBI approved projects, which are spread across 13 states/UTs covering 30 cities.

Key Facts

The SBI Realty portal has been developed by SBICAP Securities in association with PropEquity in terms of data support, project information, etc. At present, the website has 9.5 lakh home units available on it.

Using the portal, customers can compare current and past trends of prices for properties in various localities in the city. It will also assist customers in calculating appropriate loan amount a customer should borrow based on income and credit profile.

About State Bank of India (SBI)

SBI is the largest commercial bank in India in terms of assets, deposits, branches, profits, customers and employees. It has a deposit base of Rs 25.85 lakh crore. It has an extensive network, with over 24 thousand branches in India and 194 overseas offices in 35 other countries.

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