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CORRESPONDENT RELATIONS OF CENTRAL DEPOSITORIES AND OPENING OF CORRESPONDENT “DEPO” ACCOUNTS

Valentina Timoshenko Director of the Central Securities Depository of the Republic of Belarus. CORRESPONDENT RELATIONS OF CENTRAL DEPOSITORIES AND OPENING OF CORRESPONDENT “DEPO” ACCOUNTS. INFORMATION ON OWNERSHIP AND MANAGEMENT OF THE CENTRAL SECURITIES DEPOSITORY OF THE REPUBLIC OF BELARUS.

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CORRESPONDENT RELATIONS OF CENTRAL DEPOSITORIES AND OPENING OF CORRESPONDENT “DEPO” ACCOUNTS

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  1. Valentina Timoshenko Director of the Central Securities Depository of the Republic of Belarus CORRESPONDENT RELATIONS OF CENTRAL DEPOSITORIES AND OPENING OF CORRESPONDENT “DEPO” ACCOUNTS

  2. INFORMATION ON OWNERSHIP AND MANAGEMENT OF THE CENTRAL SECURITIES DEPOSITORY OF THE REPUBLIC OF BELARUS • The Republican Unitary Enterprise "Republican Central Securities Depository" was established in 1995. • Since 1998 it has been a governmental instrument and it has been run by the Ministry of Finance of the Republic of Belarus. • The activities of the Republican Central Securities Depository are aimed at solving the fundamental issue of the depository system of the Republic – provision of centralized storage of the securities registered as prescribed by law and approved for circulation on the territory of the Republic, and recording of rights to these securities.

  3. LEGAL FRAMEWORK Depository activities in the Republic of Belarus are regulated by: • Law of the Republic of Belarus of July 9, 1999 No 280-3 «On depository activities and Central Securities Depositary in the Republic of Belarus». • Decree of the President of the Republic of Belarus of April 28, 2006 No 277 “On some issues of regulating the securities market.” • Decree of the Ministry of Finance of the Republic of Belarus of April 9, 2009 No 110 "On some issues of the establishment of correspondent relations by the Central Securities Depository in the Republic of Belarus", etc.

  4. CORRESPONDENT RELATIONS OF THE CENTRAL SECURITIES DEPOSITORY OF THE REPUBLIC OF BELARUS As of October 1, 2011 the Central Securities Depository has established correspondent relations with 41 depositories, of which: • 41,5% - organization departments of the banks of the Republic of Belarus; • 44% - non-bank professional securities market participants of the Republic of Belarus ; • 14,5% - foreign depositories.

  5. INTERRACTION PATTERN OF PARTICIPANTS OF THE SECURITIES MARKET OF THE REPUBLIC OF BELARUS Ministry of Finance JSC «Byelorussian Currency-Stock Exchange» National Bank Central (Settlement) Securities Depository Level 2 depositories (41) Of which 6 are foreign depositories Securities Department National Cadastral Agency Customer

  6. TOTAL OF SECURITIES IN THE CENTRAL SECURITIES DEPOSITORY OF THE REPUBLIC OF BELARUS Securities in Custody, USD Billion

  7. FOREIGN DEPOSITORIES St. Petersburg JSC “ SEB Bank” Moscow Moscow Moscow CJSC NSD CJSC DCC Minsk Central Depository Moscow Moscow JSCSpecialized Depository “INFINITUM” CJSC UniCredit Bank Almaty JSC “Central Securities Depository”

  8. REQUIREMENTS FOR FOREIGN DEPOSITORY ON ESTABLISHMENT OF CORRESPONDENT RELATIONS WITH THE CENTRAL SECURITIES DEPOSITORY OF THE REPUBLIC OF BELARUS: • Implementation of depository activities by a non-resident depository for at least 3 years; • Availability of the special permission (license) for implementation of depository activities. The license expires no earlier than one year from the date of the conclusion of the contract for the provision of services in recording of the rights to securities which issues have been stored in the Central Securities Depository of the Republic Belarus (if registration is provided by the law of the State where the non-resident depository is registered); • Availability of permanent office of non-resident depository in the State where the non-resident depository is registered

  9. TRANSFER OF SECURITIES OF BYELORUSSIAN ISSUERS TO CORRECPONDENT “DEPO” LORO ACCOUNTS OF FOREIGN DEPOSITORIES Bonds Bonds Foreign Correspondent Depository Foreign Correspondent Depository Central Depository of Belarus Central Depository of Belarus Foreign Correspondent Depository Foreign Depository Foreign Depository Shares Shares Foreign Correspondent Depository Foreign Correspondent Depository Central Depository of Belarus Central Depository of Belarus Foreign Correspondent Depository Foreign Depository Foreign Depository

  10. ENTERING INTO AGREEMENTS FOR CUSTODY SERVICE OF BYELORUSSIAN ISSUERS BY FOREIGN CORRESPONDENT DEPOSITORIES Foreign Correspondent Depository Bond Issuer Foreign Correspondent Depository Share Issuer

  11. TRANSFER OF SECURITIES OF BYELORUSSIAN ISSUERS TO CORRECPONDENT “DEPO” LORO ACCOUNT OF NON-RESIDENT DEPOSITORY allowance transfer Securities Department Central (Settlement) Securities Depository Foreign Correspondent Depository Republican Organs of Public Administration Securities Issuer Customer agreement

  12. CONTACT INFORMATION

  13. Thank you for your attention!

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