Recital 26

(26) The central securities depositories holding assets and reserves with a total value of more than EUR 1 million should contribute from their corresponding net profits a financial contribution equivalent to 99,7 % of those net profits accumulating since 15 February 2024. This rate is justified by the fact that net profits in question result necessarily from the implementation of the prohibition laid down in Article 1a(4) of Decision 2014/512/CFSP and Article 5a(4) of Regulation (EU) No 833/2014, and therefore central securities depositories cannot expect to gain an undue and unintended economic benefit from them. Given the responsibilities of the central securities depositories and the role they are playing in handling the immobilised assets, it is however appropriate to provide that they can retain a limited percentage of the net profits to ensure the efficiency of their work. Payments should be made in biannual instalments until the extraordinary profits cease accumulating on the balance sheets of central securities depositories due to the discontinuation of the restrictive measures prohibiting transactions with the assets and reserves of the Central Bank of Russia. The Commission should inform the Council biannually on the amounts transferred by the CSDs.

← Recital 25 · All articles · Recital 27 →

Source: EUR-Lex (Cellar) · retrieved 2026-10-17 · Text as adopted (Official Journal); later amendments are not incorporated in this text.