New Zealand: Change of NZD cash correspondent bank

24.02.2015

Effective value date

23 March 2015

ANZ Bank New Zealand Limited will take over, from Westpac Banking, repsonsibility for Clearstream Banking's1 cash correspondent bank (CCB) services for the New Zealand Dollar (NZD).

Impact on customers

All payments from value date 23 March 2015 must be made to the following account:

Currency:New Zealand Dollar (NZD)
CCB name:ANZ Bank New Zealand Ltd
CBL account:923979NZD00001
SWIFT address:ANZBNZ22

Cash instruction deadlines

The deadlines for customer cash instructions will not change following the change of cash correspondent bank. The applicable deadlines with ANZ will be as follows:

PeriodPre-adviceWithdrawalTransferFX
for Value Date (VD) = Settlement Date (SD)
23 March 2015 - 28 March 2015VD 03:30VD 03:30aVD 20:00VD-2 11:30
29 March 2015 - 4 April 2015 and
27 September 2015 - 24 October 2015
VD 04:30VD 04:30aVD 20:00VD-2 11:30
5 April 2015 - 26 September 2015VD 05:30VD 05:30aVD 20:00VD-2 11:30

a. The deadline for MT103 withdrawal instructions is VD-1 20:00.

Note: All times are Central European Time (CET).

Rejection and re-sending of instructions

Customers must continue to make payments for value date before 23 March 2015 to Westpac Banking, the last value date for such payments being 20 March 2015. All instructions sent to Westpac Banking after 20 March 2015 will be automatically rejected by Clearstream Banking and customers will be required to re-send the initially rejected instructions to ANZ Bank New Zealand from 23 March 2015.

Any instructions sent to ANZ Bank New Zealand before 23 March 2015 also will be automatically rejected by Clearstream Banking and customers will be required to re-send the initially rejected instructions to ANZ Bank New Zealand from 23 March 2015.

Unless otherwise indicated, the deadlines will be valid provided that customer instructions are complete, accurate and eligible for straight-through processing (STP). Customers must also ensure necessary cash provision to ensure timely settlement. If these criteria are not met, timely settlement cannot be guaranteed.

Further information

The cash correspondent details relating to the NZD will be updated in the relevant documentation on the effective date.

For further information, customers may contact Clearstream Banking Client Services or their Relationship Officer.

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1. Clearstream Banking refers collectively to Clearstream Banking AG, registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500, and Clearstream Banking S.A., registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Trade and Companies Register under number B-9248.