On 5 July, HM Treasury announced 2 new General Licences. One allows a period of until 04 August for a Person to provide financial services for the purpose of winding down any derivatives, repurchase, and reverse repurchase transactions entered into prior to 05 July 2022 involving the National Bank of Belarus (NBB); the Ministry of Finance of Belarus (MF); and other persons set out in regulation 15CA c to d of the Belarus Regulations. The second licence allows for a 7-day wind down period in respect of, category C loans (as defined in the Regulations) as well as transferable securities and money market instruments (also defined in the Regulations).
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