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Bank of Russia supports idea of international depositary hub — Central Bank chief

VTB CEO Andrey Kostin suggested earlier creating an alternative international depositary settlement hub to be located in one of Persian Gulf countries

ST. PETERSBURG, July 6. /TASS/. The idea of creating an international depositary settlement hub is a resourceful one but specific features should be discussed with the market and international partners, Governor of the Bank of Russia Elvira Nabiullina told reporters on Thursday.

VTB CEO Andrey Kostin suggested earlier creating an alternative international depositary settlement hub to be located in one of Persian Gulf countries.

"As regards the creation of an international depositary hub, it seems to me this is a very good idea. Specific properties should be discussed together with the market, with partners, whether there is interest in the creation of such hub. Nevertheless, the idea is very resourceful for its further consideration, in my opinion. Exactly for development of the international capital market," Nabiullina noted.

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Central Bank of Russia VTB

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