NSD announced the terms of ruble payments on frozen securities of Russians – Kommersant

The National Settlement Depository said it has begun the settlement process for blocked foreign securities. To achieve this, NSD replaced liabilities in foreign currency with liabilities in rubles. Funds will be paid to depositors no later than seven days after December 21, after which the money will be transferred to specific holders of blocked securities, it said press service NSD.

The press release clarifies that NSD has completely replaced obligations in foreign currency with ruble ones to the owners of securities, whom depositors included primarily for payments. The replacement of obligations to investors who fell into the second phase has been partially completed, NSD added.

The rate at which the depositary exchanged obligations was 90.2511 rubles. per US dollar and 98.0276 rubles. per euro. The next exchanges of obligations to holders of securities who are in the second and subsequent stages will be carried out in accordance with the schedule published on website NSD. The exchange rate will correspond to the official rate of the Bank of Russia at the time of the transaction.

The settlement process for blocked securities is defined by decree Russian President Vladimir Putin on September 9. According to the text of the document, the order in which obligations to investors are fulfilled is proportional to the number of securities owned by the person.

Erdni Kagaltynov