The Central Bank of Russia has introduced a new function in its payment system that allows banks and the Federal Treasury to settle certain cleared financial market transactions directly in the Bank of Russia Payment System. The change covers deposit and repo transactions concluded on Moscow Exchange and Saint-Petersburg Currency Exchange and cleared by the National Settlement Depository. Previously, similar repo settlements were conducted by the National Settlement Depository, and participants had to transfer part of their funds from correspondent accounts held with the central bank. The new arrangement removes that step and is intended to support more flexible liquidity management, lower operating costs, and reduce the risk of settlement delays or outstanding payments.
Central Bank of Russia2026-06-08
Central Bank of Russia enables direct settlement of exchange repo and deposit trades in its payment system
The Central Bank of Russia has introduced a new function in its payment system enabling banks and the Federal Treasury to settle certain cleared deposit and repo transactions directly in the Bank of Russia Payment System. The change applies to transactions on Moscow Exchange and Saint-Petersburg Currency Exchange cleared by the National Settlement Depository, and aims to streamline liquidity management, lower operating costs, and reduce settlement delays.