The Core Report · #1003 Large Caps Continue To Take A Beating
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required banks to make a 20% cash deposit with the RBI for forex derivatives used to hedge current account exposures
20% cash deposit; cost passed on as 1.4%-1.5% annualized over forward premium
“Sell the investment, transferred the funds to your bank account, drove to the bank, withdrew the actual cash itself, and then spent the cash with real dollars”
“Introduction of a new China central bank-type tool requiring banks to set aside cash with the Reserve Bank of India for some foreign exchange transactions”
“In most states, banks are not required to pay interest on escrow accounts. And so even though your lender is holding that money in a bank account, they're not earning interest on it”
“The YAM assets, assuming you are putting in 20% cash as the deposit, ours pay for itself at an 80% LVR. That's our guarantee to our clients.”
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