The Central Securities Depository of Kazakhstan (KACD) approved amendments to the rules for the depository business, which will regulate the mechanism of the overdraft facility provided by the National Bank of Kazakhstan to market participants and credit organisations.
According to the revised Rules, KACD will be responsible for the transfer of cash funds and collateralised securities on DVP basis between the National Bank of Kazakhstan and the bank which should receive liquidity (or withdraw credit). It is envisaged that KACD will not take any Counterparty Risk in the overdraft facility process.
The effective date of the new edition of KACD's rules is yet to be announced.
Contact:
Yuliya Shibukova
Relationship Manager
Global Securities Services Russia
Yuliya.Shibukova@unicredit.ru