- The National Bank of Rwanda launched the upgraded DEPO and RTGS systems
The National Bank of Rwanda launched the upgraded DEPO and RTGS systems
On November 13, 2020, the upgraded DEPO and RTGS systems went live in Rwanda. DEPO upgrade includes transition to the DEPO3 version with upgrade of workplaces and the transfer of clients to TMS/X.
During the first week of upgraded DEPO work, about 1,500 operations were carried out, including primary placement of government securities (TBills and TBbonds), transactions from the secondary market, payment of coupons and redemption of instruments. Transactions and balances have been successfully processed and verified by the National Bank.
Also as part of this launch was introduced the functionality of the EAC which unites 4 countries: Rwanda, Burundi, Tanzania and Uganda. It allows registering cross border investors and transferring securities between the depositories of these countries. This functionality was first launched in Burundi (DEPO update) on November 1, 2020, Rwanda is the second country of the project. There are no inter-depository transfers yet, but EAC and its clients have high hopes for the development of the region thanks to the new functionality that opens up new opportunities.
Updated DEPO and RTGS system in Rwanda are based on CMA’s RTS/X & DEPO/X products installed in dozens of Central banks around the world. Information on CMA products can be obtained by filling out the feedback form on CMA's website.