Cyprus: Update on settlement and asset services in Cypriot market
Further to our announcement A15130, dated 2 July 2015 and based on information from our depository for Cypriot securities, Citibank Athens, settlement in the Cypriot market continues to take place for free of payment and against payment trades for all Central Depository and Central Registry (CDCR)-eligible securities.
Citibank Athens continues to process free of payment transactions in the Cypriot market.
However, because the capital restrictions measures enacted in Greece have been extended to Monday 13 July 2015 inclusive, (as per our announcement A15137, dated 9 July 2015), against payment transactions will be processed by Citibank Athens provided the required approval is granted by the Commission of Bank Transactions Approvals. The timeframe for obtaining such an approval however is currently not known.
The following transactions will be possible via Clearstream Banking:
against and free of payment for CDCR-eligible securities
free of payment for CDCR-eligible securities
Income and corporate action proceeds may be delayed owing to the capital controls.
We will continue to monitor the situation.
For further information, customers may contact Clearstream Banking Client Services or their Relationship Officer.