RUSSIA: NSD Launches New Post-Clearing Settlement Mechanism

Friday June 5 2026

National Settlement Depository (NSD) announced that a new mechanism for joint post-clearing settlements will be launched on 8^th June 2026, using accounts opened for clearing participants (credit institutions) with the Bank of Russia under bank deposit agreements, repo agreements, and securities loan agreements. Settlements under the new mechanism will be available to all credit institutions in accordance with the master agreements concluded with the Interregional Federal Treasury Department in the field of liquidity management for deposit operations and/or repo operations, as well as for credit institutions entering into repo transactions with the Bank of Russia.

The new settlement mechanism will improve the efficiency of operations by reducing the costs of credit institutions to attract liquidity due to netting of liabilities on deposit operations, repo and securities loan.

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