CSDR penalties: Payment processing delay - Update
Note: This announcement, originally published on 17 March 2022, has been updated to provide customers with information on the “payment date” indicated in the SWIFT MT537 PENA (field :98A: “PAYD”). Changes have been highlighted.
To accommodate requests and as agreed within the European Central Securities Depositories Association (ECSDA), LuxCSD1 informs customers that any penalties applied for settlement fails in February 2022 will only be collected or redistributed (paid) on 13 April 2022 instead of 23 March 2022. This approach is applied by all CSDs subject to CSDR.
For T2S penalties, the schedule for the provision of the monthly reports by T2S remains unchanged (18 March 2022), however, the reports will be provided to LuxCSD customers only on 21 March 2022. Customers should take note that the appeal period ended on 14 March 2022 and will not be extended.
The monthly T2S reports were provided by LuxCSD to its customers on 21 March 2022.
Note: The “payment date” indicated in the SWIFT MT537 PENA (field :98A: “PAYD”) and Xact Web Portal incorrectly states 23 March 2022. Customers should consider that the actual payments will be executed on 13 April 2022 as no corrected reports will be provided.
Further information
Clearstream Banking will provide customers with updates when they become available.
For further information, please contact Customer Service or your Relationship Officer.
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1. LuxCSD refers to LuxCSD S.A., registered office at 42, Avenue J.F. Kennedy, L-1855 Luxembourg, registered with the Luxembourg Trade and Companies Register under number B-154.449.