Ref. No. 690 dated 16 March 2022
Attn.: credit institutions and brokers
Please be advised that, in accordance with the Resolution of the Bank of Russia Board of Directors dated 11 March 2022 on using type “C” accounts for payment purposes (the “Resolution”), National Settlement Depository (“NSD”, Reg. No. 3294) will, for the purposes of payments through type “C” correspondent accounts and type “C” broker accounts (“Type “C” Accounts”), open the following Type “C” Accounts by 17 March 2022 (inclusive):
- a type “C” correspondent account — for all credit institutions registered in the Russian Federation (“Credit Institutions”); and
- a special type “C” broker account — for all professional securities market participants engaged in brokerage business and registered in the Russian Federation (“Brokers”).
A notice of the opening of a Type “C” Account (a “Notice”) will be given to relevant Credit Institutions and Brokers. A Notice will be given as follows:
- if you have an electronic data interchange agreement with NSD, then via channels provided for by that agreement;
- otherwise, by mail to your registered office.
In accordance with the Resolution, Credit Institutions and Brokers are required to provide NSD with the following:
- details of the persons authorized to use money available in the relevant Type “C” Account — within three (3) business days following the receipt of the Notice;
- documents/information required for the purposes of identification of clients and their representatives, beneficiaries, and beneficial owners under Federal Law No. 115-FZ dated 7 August 2001 “On Anti-Money Laundering and Combating the Financing of Terrorism” (the “Law”) and related regulations issued by the Bank of Russia (unless such documents/information had been provided earlier) — within ten (10) business days following the receipt of the Notice. The list of documents/information required for identification purposes is available on NSD’s web site, in the “Documents, submitted by clients” section.
If you have a bank account agreement and an electronic data interchange agreement with NSD, please provide documents and information for identification purposes under the Law in the ordinary course.
If no documents and information required for identification purposes are provided within 30 days following the receipt of the Notice, the use of money available in the relevant Type “C” Account will be restricted.
With effect from the date when NSD is provided with the details of the persons authorized to use money available in the relevant Type “C” Account, the relevant Credit Institution or Broker will be deemed to have acceded to the bank account agreement and the electronic data interchange agreement , if such agreements had not been entered into by the Credit Institution / Broker earlier.
Fees for the services provided by NSD to open, maintain and close a Type “C” Account will be charged in accordance with the Fee Schedule for NSD’s Bank Services.
If you have any questions related to the request for documents/information, you may contact the Client Contract Unit by telephone: +7 495 956-27-89. For any other questions, please contact the Client Relations Unit by telephone: +7 495 956-27-90 or +7 495 956-27-91.