Creation Link Guide - Greece - ATHEXCSD

11.05.2018

Key features

CSD link as defined under CSDRa

Yes

Type of link

Indirect

a. CSD Regulation (EU) No 909/2014 art. 2 (29)

 

CSD

Custodian

Name

Hellenic Central Securities Depository (ATHEXCSD)

Citibank Europe plc, Greece branch

FATCA GIIN

C0K19U.00001.ME.300

NXUTG8.00192.BR.300

LEI

213800T8UR2VI6Q2RH18

N1FBEDJ5J41VKZLO2475

Country of incorporation

Greece

Ireland

Account type

Segregated

Segregated

Legal Account name / holder

Clearstream Banking SA

Clearstream Banking SA

Operational arrangements

Yes/No

Remarks

Settlement in T2S

No

 

Settlement free of payment

Yes

Eligible settlement currency: Euro (EUR).

Settlement against payment

Yes

 

Settlement against payment in central bank money account of CBL/CBL customers

No

Against payment settlement takes place on the cash account of Citibank Europe plc, Greece branch at Bank of Greece.

Bridge settlement

No

 

Shaping facility

No

 

Partial settlement

No

 

Settlement penalty fees

No

 

Pre-matching

Yes

Immediate release flag.

Back-to-back processing

No

 

Allegements

Yes

 

Automatic compensation

No

 

Registered securities

Yes

Registration takes place automatically upon settlement.

Multi Market Securities

Yes

 

Lending and borrowing

Yes

 

Proxy voting

Yes

 

Investment Funds

Yes

CSD eligible ETFs

Liquidity Hub Connect

No

 

Sale and purchase of rights

No

 

Market restrictions

Yes

For tax reasons, customers may not hold Greek corporate bonds in CBL, either if they are themselves Greek tax residents and beneficial owner of such corporate bonds or if they hold such corporate bonds on behalf of a beneficial owner that is Greek tax resident.

FTT

No

 

Daily reconciliation

Yes

 

Link eligible for use in Eurosystem credit operations

No

 

Bilateral cancellation

Yes

Settlement finality

Settlement in ATHEXCSD is final and irrevocable.

Legal arrangements

The below section is based on the legal opinions obtained by CBL that were issued on 7 February 2018 and 9 February 2018. The information is provided for guidance only and should not be considered in isolation or as constituting a complete or definitive legal advice on any specific matter.

No insolvency proceedings against the custodian

Confirmed

Custodian’s liability for negligence

Liability of the custodian limited to direct losses/damages, to the extent permitted by local law.

Book-entry regime with in rem rights

Confirmed

Recognition of nominee concept

Confirmed

No right of retention to the custodian

Confirmed

Segregation of assets at the custodian

Confirmed

No right of use

Confirmed

No upper-tier attachments

Confirmed

Insolvency of the custodian with no impact on CBL's rights 

Confirmed

Shortfall pro-rated among holders

Local law does not expressly provide for shortfall rules.

Settlement finality in case of insolvency

Confirmed