CSDR penalties: Change of payment due dates
LuxCSD1 informs customers of the change to the processing schedule for CSDR penalties payments due in and after
April 2023.
As agreed within the European Central Securities Depositories Association (ECSDA), to accommodate the requirements of CSD participants to be granted more time between the CSDs’ monthly settlement fails penalties reporting and the actual payment processing date, the current calendar will be changed as follows and applied for all penalty payments due in and after April 2023.
Current schedule
Customer appeals period end date | Monthly penalties reporting date | Penalties payment date |
10th PBDa | 14th PBD | 17th PBD |
a. “Penalty Business Day” as per the “ECSDA Penalties Framework” definition.
Future schedule
Customer appeals period end date | Monthly penalties reporting date | Penalties payment date |
10th PBD | 14th PBD | 18th PBD |
T2S penalties payments
This means that for the T2S penalties payments due in April 2023:
Customer appeals period end date | Monthly penalties reporting date | Penalties payment date (via PFoD) |
Friday, 14 April 2023 | Thursday, 20 April 2023 | Intended settlement date Wednesday, 26 April 2023 (trade date: 24 April 2023) |
Customers should also refer to the ECSDA website for details including the generic penalties calendar as applicable in 2023.
Further information
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.