Creation Link Guide - Slovenia

11.05.2018

Key features

CSD link as defined under CSDRa

Yes

Type of link

Direct Operated

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

 

CSD

Account operator

Name

Klirinško depotna družba d.d. (KDD)

Nova Ljubljanska banka d.d., Ljubljana (NLB)

FATCA GIIN

Not available

5DHUWX.00008.ME.703

LEI

48510000JZ17NWGUA510

5493001BABFV7P27OW30

Country of incorporation

Slovenia

Slovenia

Account type

FIDUCIARY ACCOUNT

Mirror FIDUCIARY ACCOUNT

Legal Account name / holder

Clearstream Banking SA - Fiduciarni racun (fiduciary account)

Clearstream Banking SA

Operational arrangements

Yes/No

Remarks

Settlement in T2S

Yes

Settlement free of payment

Yes

 

Settlement against payment

Yes

Eligible settlement currency: Euro (EUR).

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

No

CBL holds a cash account at NLB. Against payment settlement in EUR takes place on the cash account of NLB at the Central Bank of Slovenia. 

Bridge settlement

Yes

Slovenian government bonds and treasury bills are Bridge-eligible.

Settlement penalty fees

No

 

Hold and Release

No

Allegements

No

 

Transaction Linking

No

Bilateral Cancellation

Yes

Registered securities

No

Transaction Management

Yes

 

Multi Market Securities

Yes

 

Lending and borrowing

Yes

 

Proxy voting

Yes

 

Investment Funds

No

 

Liquidity Hub Connect

No

 

Sale and purchase of rights

No

 

Repo services

Yes

 

Market restrictions

No

FTT

No

 

Daily reconciliationYes
Link eligible for use in Eurosystem credit operationsYes

Settlement finality

Settlement in T2S is simultaneous, final and irrevocable

Legal arrangements

The below section is based on the legal opinion obtained by CBL that was issued on 28 September 2017. 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 account operator or the CSD

Confirmed

Liability for negligence

Confirmed

Book-entry regime with in rem rights

Confirmed

No entitlement of the account operator/CSD  

Confirmed

Recognition as direct CSD account-holder

Confirmed

Recognition of nominee concept

Confirmed

No right of retention to the account operator/CSD

Confirmed

Segregation of assets at the CSD

Confirmed

No right of use

Confirmed

No upper-tier attachments

Upper tier attachment is not forbidden under local law.

Insolvency of account operator/CSD with no impact on CBL's rights 

Confirmed

Shortfall pro-rated among holders

The laws and regulations of Slovenia do not regulate situations or events of shortfall.

Settlement finality in case of insolvency

Confirmed