Russia: Sberbank to be appointed new National Securities Depository account operator
Clearstream Banking1 would like to inform customers that Sberbank of Russia will be appointed as Clearstream Banking’s new operator for its Foreign Nominee Holder account at the Russian Central Securities Depository, the National Securities Depository (NSD).
This development follows the decision by Deutsche Bank - Clearstream Banking’s current NSD Foreign Nominee Holder account operator - to exit the custody business in Russia.
Sberbank of Russia, the country’s largest bank, has long-standing experience in custody and cash services for local and international customers. Sberbank will also act as Clearstream Banking’s Ruble Cash Correspondent Bank.
Deutsche Bank, Sberbank, the NSD and Clearstream Banking are working together to ensure service continuity for Clearstream Banking customers via a smooth transition into the new operational setup.
Further details, including implementation date, will follow in due course.
Further information
For further information, please contact the Clearstream Banking Client Services or your 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 Frankfurt customers using CreationOnline), registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500.