Cash services - Russia
The Russian Ruble (RUB) is not an eligible settlement currency. Clearstream Banking will continue, subject to applicable sanctions and countermeasures, to collect income payments on RUB-denominated securities deposited outside Russia. For the collection of such payments in RUB, CBL has opened an account with AO Raffeisenbank, Moscow.
Customers are asked either to ensure that they transfer RUB income proceeds to their own cash correspondent or to make appropriate foreign exchange arrangements to withdraw RUB balances no later than PD+1.
Given the uncertain context, this situation may evolve in the future. Clearstream Banking requests customers to always make an appropriate determination that instructions comply with all applicable sanctions, including those of the EU, the United Kingdom and the United States.
Cash processing arrangements
The RUB cash clearing system is based on seven sessions at the domestic payment system throughout the day, as follows:
Processing schedule (Moscow time)
Processing of electronic documents
Reporting of processing results
05:00 - 06:00
09:00 – 10:00
The Banking Electronic Speed Payment System (BESP) is the real-time gross settlement system, and it operates on a gross-basis.
All payments exceeding RUB 100 Mln must be processed via BESP. The system is operational between 04:00 and 21:00. The formats for cash settlement are compatible with international SWIFT standards.
Sanctions monitoring could ultimately delay or prevent execution of withdrawal of funds. To avoid delays and to ensure the execution of their payments on the expected VD, customers are required to instruct and fund according to the standard deadline for executing same-day payments, as set out in the Clearstream Banking Cash Timings Matrix.
An example and guidance to instruct via AO Raffeisenbank is shown below. Any deviation from the template will lead to a rejection of the payment at AO Raffeisenbank.
:57D:// Domestic BIC and Correspondent account with Central Bank of Russia
Local Russian Bank SWIFT (optional)
Name of Local Russian Bank
:58A:/account number of the beneficiary bank
SWIFT of the beneficiary bank
:72:/BNF/(VO Code) + short reason wording
72:/BNF/(VO Code) Transfer