Ramped up collateral at Bank of Russia
05 September 2013 Moscow
Image: Shutterstock
The value of securities used as collateral for the Bank of Russia’s OTC repo transactions as of 4 September 2013 is more than RUB120 billion.
The National Settlement Depository (NSD) provides collateral management services for the Bank of Russia.
Since the launch of the service, over 1,000 transactions have been held, and more than 110 banks have joined the system.
On 15 April 2013, NSD together with the Bank of Russia and Bloomberg began providing services allowing commercial banks to conclude the Bank of Russia’s repo transactions with a basket of securities.
As part of servicing these transactions, NSD provides collateral management services, clearing services and securities and cash settlement services to market participants.
The collateral management system created by the Bank of Russia and NSD allows to select securities used as collateral for repo transactions automatically, to assess them regularly, to submit and pay margins, and to replace collateral securities.
Owing to these features of the Bank of Russia’s repo transactions, the banks can increase their asset management efficiency and decrease costs associated with the receipt of the Bank of Russia’s liquidity.
The National Settlement Depository (NSD) provides collateral management services for the Bank of Russia.
Since the launch of the service, over 1,000 transactions have been held, and more than 110 banks have joined the system.
On 15 April 2013, NSD together with the Bank of Russia and Bloomberg began providing services allowing commercial banks to conclude the Bank of Russia’s repo transactions with a basket of securities.
As part of servicing these transactions, NSD provides collateral management services, clearing services and securities and cash settlement services to market participants.
The collateral management system created by the Bank of Russia and NSD allows to select securities used as collateral for repo transactions automatically, to assess them regularly, to submit and pay margins, and to replace collateral securities.
Owing to these features of the Bank of Russia’s repo transactions, the banks can increase their asset management efficiency and decrease costs associated with the receipt of the Bank of Russia’s liquidity.
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