Russia: Information on C type accounts following Presidential Decree N°95
Further to Announcement A22035, Clearstream Banking1 updates its customers on the situation in the Russian market following the application of the Presidential Decree N°95 issued on 5 March 2022 (“the Decree”) and in particular about the type “C” account (also referred to as “S” account).
Clearstream Banking understands that income cash payment proceeds from Russian domestic securities will not be credited to Clearstream Banking’s account at National Settlement Depository (NSD) but rather will be reflected on a type C account.
The regime of type C accounts allows only a limited number of operations which performance remains at this stage unclear. The provisions of the Decree are vague and further guidance on the permitted operations is expected from the Central Bank of Russia.
Clarification efforts are ongoing with NSD and other relevant stakeholders.
The impact on Clearstream Banking’s service of these and other Russia-related measures can be found in Announcement A22018.
For further information, customers may contact Clearstream Banking Client Services or their Relationship Officer.
1. Clearstream Banking refers collectively to Clearstream Banking S.A., registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Trade and Companies Register under number B-9248, and Clearstream Banking AG (for Clearstream Banking AG customers using Creation Accounts), registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany, and registered in Register B of the Amtsgericht Frankfurt am Main, Germany, under number HRB 7500.