The Bank of Russia has made an entry regarding the national importance of the payment system of National Settlement Depository (NSD), Russia’s central securities depository, in the Payment Systems Operators Register. The change is in accordance with amended Federal Law #161-FZ “On the National Payment System”. Previously NSD held the status of the systemically important payment system.
According to the amended Federal Law “On the National Payment System”, a payment system offering money transfers on transactions made in the organized market is a nationally significant payment system.
Since the Law's amendment, the NSD payment system allowing the transfer of money on transactions concluded in the organized market, including transactions conducted by Moscow Exchange OJSC, is the nationally significant system.
About the NSD Payment System
NSD is the operator of the NSD Payment System (registration number 0014 in the payment systems operators register). NSD performs the functions of all operators of payment infrastructure services (operating center, payment clearing center, settlement center).
The NSD Payment System conducts the following types of money transfers:
- associated with the Bank of Russia’s operations in the open market and refinancing credit organizations;
- on transactions concluded in exchanges (including transactions conducted by Moscow Exchange OJSC);
- on OTC transactions.
The NSD Payment System has been recognized as a systemically important system by the Bank of Russia. According to paragraph 2 clause 22 of the Federal Law #161-FZ “On the National Payment System” dated 27 June 2011, the NSD Payment System is a system of national significance.
The Rules of the NSD Payment System are available in the section “Documents / Payment and Cash Services / NSD Payment System” (in Russian).