T2S final wave: Impact on Clearstream Banking services - update II

15.09.2017

The attachment below has been updated to correct the free of payment deadline in Lithuania.

Effective

Monday 18 September 2017

the final wave of TARGET2-Securities (T2S) will be launched.

In the final wave, four Central Securities Depositories (CSDs) will change their settlement processes by outsourcing their settlement activity to T2S. Clearstream Banking S.A. (hereinafter referred to as "Clearstream Banking1") has an existing domestic link to these CSDs.

The CSDs will send securities instructions received from their participants to T2S for matching and subsequent settlement. Clearstream Banking will continue to access the CSDs via its local agents and depositories, as follows:

CountryCSDType of linkEligible securitiesServices impacted by T2S final wave
EstoniaEstonian Central Securities Depository (EVK)Direct link operated by AS SEB Pank, TallinnDebt securities and equities eligible in EVKSettlement free of and against payment in EUR
LatviaLatvian Central Depository (LCD)Indirect link via AS SEB Pank, TallinnDebt securities and equities eligible in LCDSettlement free of and against payment in EUR
LithuaniaCentral Security Depository of Lithuania (CSDL)Indirect link via AS SEB Pank, TallinnDebt securities and equities eligible in CSDLSettlement free of and against payment in EUR
SpainIberclearIndirect link via BBVA MadridDebt securities and equities eligible in IberclearSettlement free of and against payment in EUR

Please refer to the PDF attached below for the information about the impact on customers.

Further information

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

--------------------

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.