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Individual clearing collateral. Transactions with Collateral


Collateral of Clearing Members is recorded:

·         in Russian rubles – on the NCC’s clearing banking account with NSD

·         in foreign currencies – on the NCC’s correspondent accounts with Settlement Banks.

Details of NCC’s accounts intended for posting Collateral

 

1.   Collateral posting. Collateral information change.

Cash funds in the relevant currency are transferred by Clearing Members to the relevant accounts of the NCC with mandatory indication of the Settlement Account of a Clearing Member or of the Settlement Account of the 2nd or of the 3rd level in the purpose of payment.

If in the purpose of payment Settlement Account of the 2nd level is indicated then cash funds / precious metals will be recorded under Settlement Account of a Clearing Member (SA of the 1st level) corresponding to the SA of the 2nd level. With the regard to the abovementioned, information on Collateral will be recorded under the SA of the 2nd level, indicated in the purpose of payment.

If in the purpose of payment Settlement Account of the 3rd level is indicated then cash funds / precious metals will be recorded under the Settlement Account of a Clearing Member (SA of the 1st level) corresponding to the SA of the 3rd level. With the regard to the abovementioned, information on Collateral will be recorded under the SA of the 2nd level, corresponding to the SA of the 3rd level, and under the SA of the 3rd level, indicated in the purpose of payment.

Clearing Member using the Application on transfer can transfer cash funds / precious metals between Settlement Accounts.

Clearing Member via the Clearing System is entitled to change information on Collateral under the SA of the 2nd level, despite the fact whether there is Collateral under the Settlement Account of the 1st level or not.

Market Participant, which concluded with the NCC the Agreement on keeping clearing registers, via the Clearing System is entitled to change information on Collateral, recorded under the SA of the 3rd level, despite the fact whether there is Collateral under the Settlement Account of the 1st level or not and whether there is information on Collateral under the SA of the 2nd level, corresponding to the SA of the 3rd level or not.

 

2.   Collateral Return

If between a Clearing Member and the NCC interchange of messages via S.W.I.F.T. is stipulated then Request for cash funds return can be forwarded in the form of S.W.I.F.T. message.