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Review of provisions regarding valuation of debt and money market instruments due to the COVID - 19 pandemic. - SEBI - SEBI/HO/IMD/DF4/CIR/P/2020/192

Extract

..... recognize default of a security under clause 5.1.1.2 and 9.1.2. The said provisions were relaxed vide SEBI Circular No. SEBI/HO/IMD/DF3/CIR/2020/70 dated April 23, 2020 till the period of moratorium permitted by Reserve Bank of India (RBI). 2. SEBI, vide Circular No. SEBI/HO/MIRSD/CRADT/CIR/P/2020/160 dated August 31, 2020 has provided relaxation to Credit Rating Agencies in recognition of default for restructuring by the lender/ investors solely due to COVID-19 related stress. 3. In line with .....

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Review of provisions regarding valuation of debt and money market instruments due to the COVID - 19 pandemic. - SEBI

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..... rities held by Mutual Funds. Further, valuation agencies shall ensure that change in terms of investment, financial stress of the issuer and the capability of issuer to repay the dues/borrowings on the extended dates are reflected in the valuation of the securities. 5. Further, in the scenario as stated above, if there is any difference in the valuation of securities provided by two valuation agencies, the conservative valuation shall be accepted. 6. The above modifications permitted to SEBI Cir .....

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Review of provisions regarding valuation of debt and money market instruments due to the COVID - 19 pandemic. - SEBI

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