Internal Public Foreign Currency Debt Management

VEB.RF has leading positions in the settlement of the internal foreign currency debt of the former USSR to Russian resident legal entities.

VEB.RF’s Depository is an authorized depository of the Government of the Russian Federation for domestic government foreign currency bonds of all series, the head depository for government foreign currency bonds 1999 and the agent of the Ministry of Finance of the Russian Federation for the redemption of such securities and payment of coupon interest on them.

In its capacity as an agent for the management of internal public currency debt, VEB.RF:

• performs reconciliation of balances in blocked customer accounts and their conversion into domestic government foreign currency bonds;
• performs settlement of accounts between companies and organizations and the Ministry of Finance of the Russian Federation and Vnesheconombank;
• provides accounting, storage and issuance of domestic government foreign currency bonds to clients;
• carries out expert examination of domestic government foreign currency bonds and government foreign currency bonds 1999 and transactions with them in the secondary bonds market;
• opens securities accounts for the holders of such securities;
• consults on the matters connected with internal foreign currency debt of the former USSR to individuals and legal entities, including non-residents of the Russian Federation;
• makes reconciliation of settlements and signs the statement of affairs on the transactions of former Vnesheconombank institutions in the territory of other CIS countries and the Baltic states with duly authorized entities of such countries;
• provides assistance to authorized entities of the CIS and Baltic states that renounced their claims against the Russian Federation concerning the internal foreign currency debt of the former USSR and took over the responsibility to its residents for the settlement of such debt, in the reconciliation and transfer of the respective internal foreign currency debt amounts.