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NSD Starts to Service Federal Treasury Repos with Floating Rate

06 April 2018

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National Settlement Depository (NSD), Russia’s central securities depository, is expanding possibilities for clients who use collateral management services (CMS): starting 12 April, these clients will be able to use a service of the Federal Treasury repos with a floating rate.

The Federal Treasury Repo product developed by NSD is a universal liquidity tool based on the conclusion of tri-party repos with the Federal Treasury. From the launch of the service in 2015 via NSD’s collateral management system, the Federal Treasury has placed approximately RUB 250 trillion.

The product with a floating rate will enable long-term repos to be performed in a situation in which interest rates are declining.

“We are constantly expanding and improving our services. Today, the market expects a reduction in the key interest rate, and our product provides liquidity at favourable market terms,” — said Alina Akchurina, Managing Director for Collateral Management and Tri-Party Services, NSD.

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