pc
nid 91703
Mar 20, 2026
arahman@vixio.com
Russia
The central Bank of Russian Federation
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1853 charsRussia's Central Bank Board Amends Type C Account Regime for Securities Settlement
On March 20, 2026, the Board of Directors of the Central Bank of Russia (Bank of Russia) adopted amendments to its November 21, 2022 decision establishing the regime for Type C accounts. These accounts are used for settlements and execution of transactions subject to the temporary obligation fulfilment procedures outlined in Presidential Decree No. 95 of March 5, 2022, concerning temporary procedures for fulfilling obligations to certain foreign creditors.
The amendments introduce a new account category: Type C unidentified person accounts, which are not designated for securities rights accounting. The changes establish operational procedures for Russian issuer bonds subject to centralised rights accounting or mandatory centralised custody through depositaries.
Key modifications include expanded provisions for crediting bonds to unidentified person Type C accounts, particularly for bonds from liquidated foreign legal entities specified in Decree No. 95. The amendments detail specific scenarios for bond transfers, including: transfers from Type C depository accounts of liquidated foreign entities; transfers from nominal holder depository accounts when linked to liquidated foreign entity accounts; conversions during bond consolidation or subdivision; and correction of erroneous entries.
The decision also establishes procedures for debiting from unidentified person Type C accounts, including transfers to Type C owner depository accounts upon provision of documentation confirming rights to the bonds, bond redemptions, conversions during consolidation or subdivision, and correction of erroneous credits.
The amendments became effective upon publication on the Bank of Russia's official website on March 30, 2026.
**Reference:** Bank of Russia Board of Directors Decision on Amendments to Type C Account Regime (March 20, 2026)
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2191 charsRussia's Central Bank Board Amends Type C Account Regime for Securities Settlement
On March 20, 2026, the Board of Directors of the Central Bank of Russia (Bank of Russia) adopted amendments to the Decision of the Board of Directors of the Bank of Russia dated November 21, 2022, "On the establishment of the type "C" account regime for settlements and the implementation (execution) of transactions (operations) subject to the procedure for fulfilling obligations stipulated by Decree of the President of the Russian Federation dated March 5, 2022 No. 95 "On the temporary procedure for fulfilling obligations to certain foreign creditors" establishing the regime for Type C accounts.
1.1. Clause 1 is supplemented with the words:
“Accounts of unidentified persons of type ‘C’, not intended for recording rights to securities.”
1.2. Subparagraph 1.2 of paragraph 1 is revised to provide that:
Securities may be credited to a personal account if the transaction is carried out without the transfer of rights to securities.
Securities may be credited to the account of unidentified persons of type “C” (in relation to bonds of Russian issuers, the centralised registration of rights to which is carried out by the depository).
In connection with the termination of the depository agreement, termination of the depository’s activities, or nominee holder functions, such securities are credited to a personal account, an account of clients of the nominee holder, or an account of unidentified persons opened by the registrar.
1.3. Clause 1 is supplemented with subclause 1.9 “Accounting mode for unidentified persons type ‘C’”, which provides that:
Bonds of Russian issuers subject to centralised registration are credited to type “C” accounts when written off from accounts linked to liquidated legal entities (foreign persons under Decree No. 95), from nominee holder accounts in related circumstances, during bond conversion (consolidation or splitting), or where they were erroneously written off.
Such bonds are written off from type “C” accounts for crediting to an owner’s type “C” depository account (subject to confirmation of rights), in connection with repayment, conversion (consolidation or splitting), redemption, or where they were erroneously credited.