Asset servicing - Norway

10.09.2019

Income collection

Debt securities

Service offeredRemarks
Notification to customers

Standard Asset Servicing reporting via SWIFT MT56x, Xact Web Portal, CreationOnline and Xact File Transfer.

See Section 8 “Asset servicing” of the Customer Handbook.

See Connectivity manuals on the Clearstream website.

Payment of proceeds

Interest on Norwegian fixed income securities are calculated based on the positions on the fifteenth calendar day preceding the payment date and paid to the customer's account upon successful receipt and reconciliation of funds. Proceeds will be paid with the value with which they are received. 

Funds under the Available for Cash Loan (ACL) concept, when applicable, are paid with good value.  

The payment method to be applied is reported via MT564 IPAR and Xact Web Portal IPAR.

For further details on entries qualified as ACL, please refer to the section “5.6 Financing: availability of funds” of the Customer Handbook.

Equities

Service offeredRemarks
Notification to customers

Standard Asset Servicing reporting via SWIFT MT56x, Xact Web Portal, CreationOnline and Xact File Transfer.

See Section 8 “Asset servicing” of the Customer Handbook.

See Connectivity manuals on the Clearstream website.

Payment of proceeds

Proceeds are calculated based on the positions recorded at the close of business on the record date and paid to the customer's account upon successful receipt and reconciliation of funds. Proceeds will be paid with the value with which they are received. 

Funds under the Available for Cash Loan (ACL) concept, when applicable, are paid with good value.  

The payment method to be applied is reported via MT564 IPAR and Xact Web Portal IPAR.

For further details on entries qualified as ACL, please refer to the section “5.6 Financing: availability of funds” of the Customer Handbook.

Corporate Actions

Service offeredRemarks
Notification to customers
Standard reporting. On voluntary and standard mandatory events, CBL informs customers, on an "as and if received” basis, of unscheduled securities events occurring on account holdings.No specific deviations from standard reporting provided by CBL apply to the Norwegian market.
Instruction to CBL
Customers may instruct CBL to carry out options foreseen in the terms and conditions of the underlying type of security. These options include, but are not limited to, put options, conversions, exercises of warrants, exchanges, detachment of warrants etc.
In addition, CBL informs customers on an "as and if received" basis of unscheduled securities events occurring on account holdings, such as rights offers, reinvestment options, exchange offers, purchase offers, mergers etc.
Customers are requested to instruct within the deadlines and/or procedures specific to each type of event. In the absence of instructions from its customer, CBL will apply a “default option”, which may differ for each type of event.

Sale and purchase of rights

Please refer to the Sale and purchase of rights section.

Proxy Voting procedures

Proxy voting services are available in CBL for this market.

Customers that want to vote at general meetings (physically or by proxy) must instruct CBL to register their shares in the name of the beneficial owner prior to the record date (if introduced by the company) of the general meeting, and as defined by the respective company. The re-registered shares must be transferred to a separate VPS account in the name of the beneficial owner In the case of representation a Power of Attorney is recommended.

For details about the proxy voting services offered by CBL, please refer to the CBL Customer Handbook.

Entitlement compensation rules

Please refer to the Entitlement Compensation Rules - Norway.