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NSD Payment System gets clean bill of health from Russian Central Bank

19 December 2014  |  3706 views  |  0 Source: NSD

The Bank of Russia has conducted an assessment of the Payment System of National Settlement Depository (NSD), Russia’s central securities depository, and has acknowledged a high level of the System’s compliance with the Principles for financial market infrastructures. Previously, the NSD Payment System was recognized as a systemically and nationally important.

As a result of the assessment, the Bank of Russia has determined the NSD Payment System’s full or general observance of 14 out of 18 Principles for financial market infrastructures applicable for payment systems (four Principles are not applicable to the NSD Payment System). The assessment covers the period from 1 January 2013 to 30 June 2014.

Eddie Astanin, Chairman of the Supervisory Board, NSD, said: “National Settlement Depository was recognized as a systemically important infrastructure of the financial market. This obliges us to pay special attention to the operating reliability and risk management issues. The Supervisory Board and managers of NSD are focused on these matters.”

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