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In 2024, Euroclear earned approximately €6.9 billion in interest from Russian assets that were frozen because of sanctions. In 2023, the amount decreased to approximately €4.4bn. Euroclear announced that it had established a €4bn provision in accordance with the European contingent income regulation. Incorporating this and taxes amounting to €1.69bn, the net profit reached €1.07bn.
Euroclear highlighted that the steady fall in interest rates has resulted in a similar decrease in interest income associated with BoC assets. Additional interest income is expected to decrease, but this will rely on upcoming policy choices, it stated.
By the close of 2024, Euroclear possessed €212 billion in assets, with €183 billion representing frozen Russian assets. The costs incurred by the depositary regarding Russian assets totaled €94 million.
In July, Euroclear delivered the initial payment of €1.55 billion derived from the investments of Russian assets to support Ukraine.
source: reuters.com
Euroclear highlighted that the steady fall in interest rates has resulted in a similar decrease in interest income associated with BoC assets. Additional interest income is expected to decrease, but this will rely on upcoming policy choices, it stated.
By the close of 2024, Euroclear possessed €212 billion in assets, with €183 billion representing frozen Russian assets. The costs incurred by the depositary regarding Russian assets totaled €94 million.
In July, Euroclear delivered the initial payment of €1.55 billion derived from the investments of Russian assets to support Ukraine.
source: reuters.com
