Russia: PJSC Rosbank Moscow new CBL Cash Correspondent Bank (CCB)

15.06.2022

Clearstream Banking1 informs customers that effective

immediately

PJSC Rosbank Moscow has been appointed as Cash Correspondent Bank (CCB) for Clearstream Banking.

Name

Public joint-stock company ROSBANK

Address

34, Mashi Poryvaevoy street, Moscow, 107078, Russia

BIC (BIK)

044525256

INN

7730060164

OGRN (Registration Number)

1027739460737

Rosbank Account no. with the Central Bank of Russia

30101810000000000256

Clearstream Banking S.A account no. with PJSC Rosbank

30111810400000020253

Clearstream Banking opened an account with Rosbank PJSC Moscow who will play the role of its new CCB for the limited and unique purpose of collecting the custody proceeds securities denominated in Russian Rubles (RUB) deposited outside Russia.

Following the credit of such income proceeds, 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 therefore requests customers to always make an appropriate determination that their instructions fall within the permitted activities and are in compliance with all applicable sanctions, including those of the EU, the United Kingdom and the United States.

Credit of funds will not be allowed and pre-advise MT210 will be rejected.

Customers should note that corporate action proceeds in securities deposited on Depository 5R are not credited to Clearstream Banking’s account with the NSD but to a Type-C (sometimes known as a Type S) account that the National Settlement Depository has opened in its books.

Clearstream Banking will reflect customer entitlements on a sundry memorandum account for the customer. The use of the memorandum account signifies that Clearstream Banking has not received and does not have access to the funds.

Sundry Memorandum Account – Type 3C – will be reported as:

SMA3C–[Customer Name/Customer Account Number]

Clearstream Banking does not have access to the cash entitlement for so long as the proceeds remain blocked on a Type C account at the NSD. Clearstream Banking will transfer the funds reflected in the sundry accounts to customers’ accounts once Clearstream Banking itself has gained access to the funds blocked upstream. Customers may not instruct Clearstream Banking in respect of such entitlements. If any customer believes that it fulfils the conditions set out in Russian regulation to enable Clearstream Banking to instruct the NSD to debit its Type C account, they should contact their Relationship Manager or Customer Service. The opening of a Type 3 account will be reported to the customer via MT599. The balance of the entitlement shown on the Type 3 account will be reported to customers via MT950. 

Impact on customers

Customers are kindly requested to strictly follow the cash instruction format required by Rosbank Moscow for MT202 when instructing withdrawals of funds.

Further information

For further information, customers may contact Clearstream Banking Client Services or their Relationship Officer.

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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.