Republican Central Securities Depository

About the Depository System of the Republic of Belarus

     In Belarus a two-level depository system functions including the Republican Unitary Enterprise "Republican Central Securities Depository" (RUE "RCSD") and 35 depositories which have established correspondent relations with the RUE "RCSD", of which 17 are banks.
     The main objective of the depository system is to provide centralized custody of the securities registered in accordance with the legislation of the Republic of Belarus and allowed for circulation on the territory of the Republic of Belarus, as well as recording rights to the securities.
     RUE "RCSD" takes on a central custody the securities, on which depository activities are carried out. Also, it manages correspondent nominee accounts of the depositories, settles securities transactions between depositors of different depositories, as well as by results of trading at the Belarusian Currency and Stock Exchange, ensures interaction of depositories, keeps the guide of securities issues, performs other functions determined by the Law of the Republic of Belarus.
     The depositories record the rights to securities, settle securities transactions, and provide custody services to issuers.
     Only the depository which has received an authorized status by the Law may record rights to government securities, issued by the Ministry of Finance on behalf of the Council of Ministers and to the National Bank securities, as well as perform other related functions specified in accordance with the Law. The authorised status is assigned by the Central Depository to bank depositories only. The status is assigned with the approval of the Ministry of Finance and the National Bank (Resolution of the Ministry of Finance and the National Bank of December 18, 2006 № 162/207 "On Approval of Instruction of the Activities of Authorized Depositories").