OREANDA-NEWS  The issue of decentralization of the depository system in Russia is not currently being considered, TASS reports with reference to the press service of the Central Bank.

The regulator announced its unwillingness to abandon the central securities depository in connection with the earlier proposals of the National Association of Stock Market Participants (NAUFOR) to discuss such an opportunity.

In early June 2022, the National Settlement Depository (NSD), part of the Moscow Stock Exchange, came under European sanctions. According to the restrictions imposed, all NSD funds and resources must be frozen, and no new funds and resources can be provided to the depository directly or indirectly. On this basis, in particular, individuals and legal entities from EU countries were banned from participating in the asset exchange scheme proposed for Russians and non-residents in the Russian Federation.

NAUFOR's commentary suggested, against the background of the sanctions imposed on NSD, and taking into account the fact that now the opportunity for non-resident investors to invest in securities accounted for in the central securities depository is excluded or limited, "to discuss measures to change the accounting infrastructure that would attract friendly non-residents to invest in the Russian securities market."