Consider the following statements related to the RBI’s Master Direction on Margining for Non-Centrally Cleared OTC Derivatives:
- The Master Direction applies to non-centrally cleared foreign exchange, interest rate, and credit derivative contracts entered on or after November 08, 2024.
- Variation Margin (VM) must be recalculated within 10 working days if there is a significant exposure change.
- Transactions involving the Government of India, State Governments, foreign sovereigns, and central banks are exempt from the margin requirements.
Which of the above statements are correct?
1
1 and 2 only
2
2 only
3
1 and 3 only
4
2 and 3 only
5
1, 2, and 3