BIS central bankers’ speeches  3  Trade Repository: CCIL has been acting as the trade repository for IRS transactions since August 2007. There is no such trade repository structure for the FX derivatives at present. There are proposals to introduce repository structure for USD-INR forwards (including swaps) and options.
The implication is that efforts to improve the stability of our currency union could be expected to lead to a more even distribution of reserve demand effects across the euro area. This, by itself, would benefit the transmission of our monetary policy.