Ukraine: New service - Withdrawal of funds in Ukrainian Hryvnia (UAH) - update

23.09.2019

Note: This Announcement, first published on 17 September 2019, has been updated to correct the IBAN and to add the standard account number. The changes are highlighted.

Clearstream Banking1 informs customers that from

20 September 2019

customers may realign income and redemption proceeds arising from Government issued instruments paid in Ukrainian Hryvnia (UAH) from their Clearstream account to their local cash correspondent bank (CCB) account.

Details of payment formats and instruction deadlines for same day payments can be found immediately below:

Cash instruction formats

If you are instructing a withdrawal of funds in UAH the following instruction formats are to be respected, failure to do so, payments may be delayed or rejected.

  1. Local Agent or Intermediary bank to credit
    • For SWIFT MT202, Account with Institution in field :57a:
    • For CreationOnline or Xact Web Portal use Account with Institution.
  2. Beneficiary Account Number to be credited by Local Participant Bank, which should be the beneficiary account or IBAN not a BIC.
    • For SWIFT MT202 use the Beneficiary Institution in field :58a:
    • For CreationOnline or Xact Web Portal use the field Beneficiary Institution.
  3. Beneficiary Name, this must be the beneficiary name and the local tax code of the beneficiary.
    • For SWIFT MT202 use the second line of the Beneficiary Institution/Customer in field :58a:
    • For Creation Online or Xact Web Portal use the second line of field Beneficiary Inst/Cust.
  4. Additional information, this must always provide the reason for the payment, the country code of the ordering party, and type of transaction
    • For SWIFT MT202 use field :72:/BNF/
    • For Creation Online or Xact Web Portal use the narrative field.

For withdrawal of payments from Clearstream Banking, one of the following texts should be included in all payment instructions:

  • GVMT Bonds Redemption Funds transfer from foreign correspondent bank- depository account, country code 442, transaction code 8424

OR

  • GVMT Bonds Coupon Funds transfer from foreign correspondent bank- depository account, country code 442, transaction code 8424

OR

  • GVMT Bonds Sale Proceeds Funds transfer from foreign correspondent bank- depository account, country code 442, transaction code 8424

Note: 442 is the country code for Luxembourg, 8424 is the type of transaction as per NBU codification.

Example MT202

:57a:/BIC of local agent or intermediary bank

:58D:/IBAN or account of receiver in Ukraine

Beneficiary name

Tax Code [000000000] of the beneficiary

Bank Code (MFO)2 [bank code of beneficiary - mandatory if in IBAN not present in field :58D:]

:72:/BNF/Payment details line 1

Payment details line 2

Payment details line 3

Payment details line 4

Payment details line 5

MT202 using standard non-IBAN account

:57a:/CITIUAUKXXX (local agent or intermediary bank)

:58D:/16066260108123-(Receiver sample of a standard non-IBAN account)

FOREIGN INVESTOR NAME–(Beneficiary name)

TAX CODE 000000000–(Beneficiary Tax ID-for non-residents it is always 000000000)

Bank Code (MFO)- 300585-(sample of an MFO)

:72:/BNF/GVMT BONDS REDEMPTION FUNDS TRANSFER FROM FOREIGN CORRESPONDENT BANK- DEPOSITORY ACCOUNT, COUNTRY CODE 442, TRANSACTION CODE 8424

MT202 using IBAN account

:57a:/ CITIUAUKXXX

:58D:/ A123005840000016006460108123

FOREIGN INVESTOR NAME

TAX CODE 000000000

:72:/BNF/GVMT BONDS REDEMPTION FUNDS TRANSFER FROM FOREIGN CORRESPONDENT BANK- DEPOSITORY ACCOUNT, COUNTRY CODE 442, TRANSACTION CODE 8424

CreationOnline or Xact Web Portal

Account with Institution: BIC of local agent or intermediary bank

Beneficiary Inst/Cust: [IBAN or account of receiver in Ukraine]

[Receiver name]

Tax Code [000000000] of the receiver

Bank Code (MFO) [bank code of receiver - mandatory if IBAN is not present in field 58D]

Details of Payment:/BNF/ Payment details

Example using IBAN account

Account with Institution: CITIUAUKXXX

Beneficiary Inst/Cust: A123005840000016006460108123

FOREIGN INVESTOR NAME

TAX CODE 000000000

Details of Payment:/BNF/GVMT BONDS REDEMPTION FUNDS TRANSFER FROM FOREIGN CORRESPONDENT BANK- DEPOSITORY ACCOUNT, COUNTRY CODE 442, TRANSACTION CODE 8424

Other information

Cash correspondent details

Currency:

Ukranian Hryvnia (UAH)

CCB name:

JSC Citibank Ukraine

CBL account number:16006460108004

CBL IBAN:

UA27 3005 8400 0001 6006 4601 0800 4

SWIFT address:

CITIUAUKXXX

Cash instruction deadlines

The deadlines for customer cash instructions in UAH will remain the same:

Period

Pre-advice

Withdrawal

Transfer

FX

for Value Date (VD) = Settlement Date (SD)

All year

VD 11:00

VD 11:00

VD 20:00

VD-2 11:30

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

Further information

For further information, customers may contact Clearstream Banking Customer Service or their Relationship Officer.

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1. Clearstream Banking refers collectively to 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, and Clearstream Banking AG (for Clearstream Banking AG customers using Creation Accounts), registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500.

2. See link to NBU’s catalogue, bookmark K040. (document only available in Ukrainian).