Other services - Austria
Securities lending and borrowing
Austrian domestic debt instruments eligible in CBL qualify for CBL's securities lending and borrowing programme.
Multi-Market securities service
Please refer to the Multi-Market Securities page on the Clearstream website for a complete list of multi-market securities that are settled via Erste Group Bank AG and the corresponding instruction specifications.
As there are an additional number of intermediaries in the settlement chain, cross-border transfers and realignments may take several days to settle. Consequently, Clearstream Banking cannot guarantee timely settlement of cross-border instructions which means that CSDR SDR cash penalties might occur if there is late or failed settlement.
Customers are therefore strongly recommended to send their cross-border settlement instructions to Clearstream Banking as early as possible to avoid settlement delays.
Disclosure requirements
Please refer to the Disclosure Requirements - Austria.
Holding restrictions
Please refer to the Investment regulation section of the Market Profile - Austria.
Tax services
In line with market practice, Clearstream offers a standard refund service on Austrian equities that are taxed at source by default with 27.5% withholding tax whereas no withholding tax is deducted from interest on Austrian debt securities held in Clearstream. See the Market Taxation Guide - Austria.
Note: Residents of Austria cannot reclaim withholding tax through Clearstream Banking.
Primary Dealer service
Primary Dealers/Recognised Dealers will be able to settle primary auction flows from their CBF account in conjunction with their central bank cash account of choice in T2S.
This enhancement is part of an ongoing initiative between Clearstream Banking and major European Debt Management Offices and National Central Banks to leverage the new settlement functionalities provided on the T2S platform to make cross-border settlement in Central Bank Money a reality in European government bond markets.
Ultimately, this new settlement model will allow primary Primary Dealers to consolidate their post trade activities in a single securities account at Clearstream, used in conjunction with a central bank cash account of their choice, thus benefiting from cash and collateral pooling on a pan-European basis.
For the settlement, according to section 5 of the Master Agreement in respect of the issuance of Government Bonds of the Republic of Austria via an auction system, the following SWIFT standard settlement instructions are to be applied:
• Place of Settlement: OCSDATWWXXX
• Delivering Agent: AFFAATWWXXX
• Safekeeping Account: OCSD233918 (optional with OeKB CSD)
Primary Dealers wishing to receive their securities on their CBF account need to instruct a cross-CSD instruction to the Austrian market with the Austrian Treasury – Oesterreichische Bundesfinanzierungsagentur as counterparty. In addition, interested customers should communicate their own settlement instructions details in CBF to OeKB CSD, the Auction Agent for Austrian Government Bonds: govbonds@oekb.at.