NSD will start operations on bank accounts in foreign currency from August 26
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The National Settlement Depository will start operations on bank accounts in foreign currency from the year 26, and until December 31, the tariff will be zero.
“In this regard, from August 26, 2022 to December 31, 2022 (inclusive), a marketing period is introduced during which customers will not be charged for transferring funds in foreign currency to accounts opened with other credit institutions,” in NSD.
For the marketing period to come into effect, two conditions must be met: confirmation of a license issued by European regulators, as well as confirmation of a foreign correspondent bank about the possibility of making a payment.
NSD will also conduct debits in euros and Swiss francs as reimbursement for expenses related to customer transactions or assets (if these expenses are debited by Euroclear and Clearstream or foreign correspondent banks from their blocked NSD accounts). In addition, transactions will be carried out to write off blocked funds in US dollars as a reimbursement of NSD’s expenses related to transactions or client assets.
On August 16, NSD temporarily canceled commissions for the transfer of Russian securities from foreign depositories in connection with the requirements of the European Commission. NSD came under EU sanctions in June, and the EC allowed settlements with him only if he does not receive a benefit. The amount of blocked securities of Russian residents due to sanctions against NSD is about 6 trillion rubles.
The news is being added.
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