Asset servicing - Croatia

10.09.2019

Income collection

Service offeredRemarks
Notification to customers

Standard Asset Servicing reporting via SWIFT MT56x, Xact Web Portal, CreationOnline and Xact File Transfer.

See Section 8 “Asset servicing” of the Customer Handbook.

See Connectivity manuals on the Clearstream website.

Payment of proceeds

Ex-date is usually Record date -1.
Record date is defined by the issuer.
The basis for entitlement is the position at close of business on Record date.
Payment of dividends can be done either:

- Through the CDCC system, which means that the issuer pays the income to the CDCC and the money is then transferred to Erste Bank (for further credit to CBL); or
- Directly from the issuer, which means that CDCC informs the issuer about the shareholders and the shareholders then receive directly their income from the issuer.
In case of custody accounts, the issuer will transfer the income to Erste Bank for further credit to CBL.

Proceeds are paid to the customer's account upon successful receipt and reconciliation of funds. Proceeds will be paid  with the value with which they are received.

Funds under the Available for Cash Loan (ACL) concept, when applicable, are paid with good value.

The payment method to be applied is reported via MT564 IPAR and Xact Web Portal IPAR.

For further details on entries qualified as ACL, please refer to the section “5.6 Financing: availability of funds” of the Customer Handbook.

Corporate actions

Service offeredRemarks
Notification to customersNo specific deviations from standard reporting provided by CBL apply to the Croatian market.
Clearstream Banking advises customers of their entitlement to participate in Croatian corporate actions.
Instruction to CBL
Customers may instruct CBL to carry out options foreseen in the terms and conditions of the underlying type of security. These options include, but are not limited to, put options, conversions, exercises of warrants, exchanges, detachment of warrants etc.

In addition, CBL informs customers on an “as and if received” basis of unscheduled securities events occurring on account holdings, such as rights offers, reinvestment options, exchange offers, purchase offers, mergers etc.

Proxy Voting procedures

Proxy voting services are not available in CBL for this market.

Entitlement compensation rules

Please refer to the Entitlement Compensation Rules - Croatia.