Ref. No. 47-20/8748 dated 16 December 2021
Attn.: NSD's clients
NSD Payment System participants
This is an update to communication Ref. No. 03-20/7713 dated 2 November 2021. Please be advised that NSD, including the NSD Payment System1, will be operating on 31 December 2021 and over the period of New Year public holidays in 2022 as follows:
1. On 31 December 2021:
1.1. NSD will be providing bank services2 to its clients, including NSD Payment System participants, from 8:30 a.m. to 2.00 p.m., as follows:
- The NSD Payment System will be available from 8.30 a.m. to 2.00 p.m. (Moscow time);
- No foreign exchange transactions will be processed.
- No services for transferring funds from clients’ bank accounts in accordance with Standing Instructions will be provided3;
- Bank account statements as of 31 December 2021 (including for bank accounts of NSD Payment System participants) will be issued on 3 January 2022.
1.2. No depository, clearing or collateral management services will be provided.
1.3. Messages sent by users of Repository Services (including the Registrar of Financial Transactions) will be recorded and processed automatically (no transactional support will be available). Messages received on 31 December 2021 (provided that they are successfully validated and matched) will be registered on 10 January 2022.
1.4. Messages sent by users of IT Services (Transit, Financial Messaging Transit, SWIFT Service Bureau) will be recorded and processed automatically (no transactional support will be available).
1.5. NSD and NSD Payment System will not be accepting for execution any documents (including cash transfer instructions) in hard copy, and will not be accepting untyped electronic documents (files) via the NSD EDI System, other than documents required for foreign exchange control or documents related to investigations of payments in Russian roubles and foreign currency (in this case, documents will be processed on 3 January 2022). NSD will proceed to processing untyped electronic documents received on 31 December 2021 (if any) on 10 January 2022.
2. On 3-7 January 2022, NSD will be providing depository, bank account, and clearing4 services, including NSD Payment System services, at hours provided for in the relevant agreements (including in the NSD Payment System Rules), subject to the following:
2.1. Cash transfers to and from accounts of NSD's clients, including NSD Payment System participants, will be executed subject to any changes in the operating hours of the Bank of Russia Payment System and external contractors. On 7 January 2022, cash transfers in Russian roubles will be executed only between clients’ bank accounts opened with NSD. Cash transfer instructions in Russian roubles due on 7 January 2022 for bank accounts opened with other banks will not be accepted for execution.
2.2. On 7 January 2022, no transactions will be executed using the Bank of Russia Faster Payment System (FPS).
2.3. No foreign exchange transactions will be processed.
2.4. There will be no clearing sessions in the commodity market.
2.5. Collateral management services will be provided as usual, subject to the operating hours of the Bank of Russia Payment System and external contractors, and subject to:
- the schedule for Bank of Russia's repo trades in the exchange and OTC markets on 3-7 January 2022, and specific requirements set forth by Moscow Exchange with respect to the method of determination of settlement prices to be used in the following trades: "Repo with the Bank of Russia: Repo Auction" and "Repo with the Bank of Russia: Fixed Rate"; and
- specific requirements set forth by the Russian Federal Treasury, St. Petersburg Finance Committee, and Leningrad Region Finance Committee, including the collateral requirements.
2.6. NSD will not be providing LOU services, including LEI assignment/verification/acceptance/transfer; NNA/SNA services for assignment of ISINs and CFIs to securities, as well as services for assistance in assigning ISINs and CFIs to non-Russian securities.
2.7. Messages sent by users of IT Services (Transit, Financial Messaging Transit, SWIFT Service Bureau) will be recorded and processed automatically (no transactional support will be available).
2.8. No services will be provided to assist securities holders to exercise their rights attached to Russian securities5, other than services provided automatically, such as
- Notifications on record dates and sending reminders of forthcoming CAs;
- Acceptance and processing of CA Instructions;
- Acceptance and processing of instructions to register a list of securities holders disclosed / changes therein.
2.9. No services will be provided to assist securities holders in exercising their rights attached to non-Russian securities, other than services and transactions that require prompt execution, such as:
- CA notification;
- Acceptance and processing of instructions for which the deadline for submission of CA Instructions, as set by NSD, falls on a public holiday;
- Securities transactions resulting from CAs, including the blocking of securities;
- CA cash movement (credit/debit).
2.10. NSD and NSD Payment System will not be accepting for execution any documents (including cash transfer instructions) in hard copy, and will not be accepting untyped electronic documents (files) via the NSD EDI System, other than documents related to investigations of payments in Russian roubles and foreign currency and documents required for foreign exchange control or tax management purposes. NSD will proceed to processing untyped electronic documents received over the period in question (if any) on 10 January 2022.
2.11. Transactions to be executed on the basis of any documents other than those referred to under item 2.10 above and that require interaction with external counterparties will be executed subject to such counterparties’ operating hours.
2.12. Messages sent by users of Repository Services (including the Registrar of Financial Transactions) will be recorded and processed automatically (no transactional support will be available). Messages received on 3-7 January 2022 (provided that they are successfully validated and matched) will be registered on 10 January 2022.
2.13. Fair value of securities will be measured and published by the NSD Valuation Center as usual.
3. 1, 2, 8 and 9 January 2022 will be non-business days, and no services will be provided to NSD's clients (including NSD Payment System participants).
4. On 30 December 2021, NSD will be providing depository, bank, and clearing services (including services of the NSD Payment System), as well as NSD's Trade Repository services (including services provided by the Registrar of Financial Transactions) and information services as usual.
If you have any questions related to this communication, please use the following contact details: +7 495 956-27-90, +7 495 956-27-91.
1 The NSD Payment System operator is registered by the Bank of Russia in the Register of Payment System Operators under registration number 0014
2 Subject to the operating hours of the Bank of Russia Payment System
3 Except for cash transfers in accordance with Standing Instructions to be executed before 2 p.m.
4 Clearing Services will be subject to the operating hours of the Bank of Russia Payment System and external contractors
5 with the exception of mandatory CAs on 3 January 2022 in case all required information and documents are received