New Requirements for Depository and Clearing Activities

by Olha Povaliaieva
Wednesday, October 20, 2021
New Requirements for Depository and Clearing Activities

The National Bank has updated the regulation on the implementation of depository and clearing activities and ensuring the implementation of settlements on transactions in NBU securities

The changes were made in accordance with law № 738-IX, as well as with the aim of improving the processes of interaction between the National Bank and customers.

The corresponding changes include:

  • Regulation of the procedure for servicing settlements by the NBU depository on transactions with respect to securities in compliance with the principle of “delivery of securities against payment” in cases where monetary settlements are provided by the National Bank;
  •" rel="dofollow">Establishment of the procedure for the provision of securities as collateral in favor of the NBU, in particular for refinancing operations, exclusively using securities account opened with a depository institution of the Central Bank;
  • Determination of the procedure and terms for servicing payments for securities and for corporate transactions of issuers, taking into account the rules of operation of the BOT;
  • Determination of the procedure for providing the NBU depository with access to additional services to clients.

These changes were approved by the NBU Resolution № 104, which comes into force on October 20, 2021.

At the same time, certain clauses of the provision will enter into force 30 days after its official publication, as well as from January 1, 2022.

Law № 738-IX On Amendments to Certain Legislative Acts of Ukraine Concerning the Simplification of Attraction of Investments and the Introduction of New Financial Instruments was approved by parliament on June 19, 2020. The main provisions of the document entered into force on July 1, 2021.

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