Operations on financial markets
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No, it does not. The Instruction of the Central bank of Russia dd.07.06.2004. # 116-I „On types of special accounts of residents and non-residents“ (hereinafter referred to as the Instruction # 116-I) does not apply to credit institutions — residents. Transactions of non-residents are limited by the transactions in Russian rubles, and special accounts to non-residents are opened only in the currency of the Russian Federation.
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A domestic security is a security which meets the combination of the two characteristics: the security should be issued in the territory of the Russian Federation and it should give the right to receive the currency of the Russian Federation. All other securities which do not meet the combination of these two characteristics (for e.g., the security gives the right to receive the currency of the Russian Federation, but it is issued in the territory of Ukraine) are external securities.
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Payments between residents (including authorized banks) and non-residents under the domestic securities should be executed in Russian rubles.
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Yes. According to Article 13 the procedure of opening and maintaining banking accounts of non-residents is established by the Central bank of Russia. Such procedure referring to the accounts of non-residents has not been established, therefore the transactions are executed without any limitations.
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Payments, including outgoing payments, from the accounts of clients in hard currencies are allowed to be executed in any currency regardless the type of currency in which the account has been opened.
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