NSD Supervisory Board Approves Amended Fees
OREANDA-NEWS. The Supervisory Board of National Settlement Depository (NSD), Russia's central securities depository, approved new versions of its Fees for settlement and cash services, the List of procedures providing the EDI functionality and participants’ access to the EDI, and the EDI Fees.
Pursuant to this resolution, the Fee for conducting settlements using the client's paper instruction in case of limitation/suspension of the electronic document interchange (EDI) equaling 10% of the transfer amount is to be charged:
to the clients with whom the EDI agreements were not concluded or were terminated;
to the clients with whom the EDI was suspended.
We remind that on 11 October 2011, the Supervisory Board had approved the fee of 10% of the transfer amount held on the basis of paper instruction (for the clients with whom NSD had terminated EDI agreements on its own initiative). The tariff had been introduced as part of NSD's measures aimed at combating money laundering and the financing of terrorism.
As the remote bank services agreements with NSD clients (which were based on the previous version of NSD Fees for settlement and cash services) were terminated since 1 July 2013, these amendments will allow NSD to apply the restrictive fee to a few categories of clients conducting their activities in violation of current law.
The similar restrictive fee for transfer of cash balance equaling 10% of the transfer amount is to be introduced for the following categories of the clients closing their bank accounts:
for the clients with whom EDI agreements allowing to hold settlements were not concluded (or were terminated on the clients' initiative);
for the clients with whom EDI allowing to hold settlements was suspended;
for the remaining clients (the fee shall not exceed RUB2,400).
The commission for opening and maintaining the legal entity's bank account was canceled. The commission for maintaining the bank account will amount to RUB1,500 per month.
The fees for settlements in Ukrainian hryvnias, Belarusian rubles and Kazakh tenge were unified.
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