19 Mar 2022 20:02

CBR permits Moscow Exchange to carry out operations to cut liabilities of non-resident clients from unfriendly countries from March 21 to April 1

MOSCOW. March 19 (Interfax) - The Central Bank of Russia (CBR) has issued a permission to the Moscow Exchange , National Clearing Center (NCC), and the National Settlement Depository (NSD) from March 21 to April 1 inclusive for operations of professional participants aimed exclusively at reduction of liabilities of their clients, who are persons of those foreign countries, which are pursuing unfriendly activities, a press release for the stock exchange said.

The decision was made to reduce the liabilities arising from the transactions completed before February 28 inclusive at the Moscow Exchange in the interests of non-residents, who are the persons of foreign countries pursuing unfriendly activities.

In particular, these can be the following transactions: clearing and performance of liabilities based on the clearing results with the possibility to conduct necessary transactions for cases of non-fulfillment or improper fulfillment of liabilities by a party; actions aimed at bringing the date of fulfillment of liabilities closer; conclusion of transactions to transfer (prolong) liabilities of clearing parties and their clients - non-residents; closing positions by entering into sale-purchase transactions; conclusion of closing transactions.

Additionally, there may be settlement operations under transactions necessary to terminate liabilities under those transactions, as well as associated transactions, in particular, transactions resulting from the transfer of liabilities under the initial transactions, and the execution of transfers of securities based on the results of clearing of the depo accounts of the depositors of the depositories.

The rest of the transactions of professional participants of trading in the interests of all non-residents should be carried out exclusively with the use of S-type accounts.

Previously, restrictions on transactions by non-residents were imposed by the Russian presidential decrees.