Interest rate risk of banks cannot be managed over and over again by the regulator," Acharya told delegates of the Fixed Income and Money Market Dealers Association (FIMMDA) at its annual dinner meeting. "In the second half of 2004, rates climbed 200 basis points, and they hardened 355 basis points between December 2008 and November 2011. "The bet backfired," the person said.FIMMDA confirmed revision of valuation prices in a running ticker on its website. "During October-December, the benchmark bond yield surged about 67 basis points, pulling prices down. They requested RBI to allow them to spread these losses over two quarters.

Source: Economic Times January 15, 2018 18:21 UTC