U.S.A: Suspension of physical security processing services – update IV

05.05.2020

Note: This announcement, originally published on 8 April 2020 and updated on 9 April 2020, was further updated as DTC announced that they will continue to suspend all physical securities processing services until further notice.

Further to Announcements A20039 and A20046, Clearstream Banking1 informs customers that the processing of physical security services in the U.S.A. remain suspended until further notice, due to the impact of the COVID-19 virus.

Effective 

immediately

Citibank N.A. New York (Citi), as Clearstream Banking’s custodian in the U.S.A will temporarily suspend all physical processing services due to the risks and impact of the COVID-19 virus. This does not impact other settlement operations for book entry security services.

All physical security services are temporarily suspended including: 

  • Physical deliveries and receipts;
  • Physical withdrawals from the vault or DTC;
  • Physical deposit to DTC book entry;
  • Re-registration and transfer activities.

All inflight physical certificates or documentation being delivered to Citi will be held securely until the vault re-opens. These transactions will be processed once the vault re-opens. 

DTC published an important notice (B# 13352-20) on 30 April 2020, which supersedes DTC important notice B# 13276-20 distributed on 6 April 2020.

Due to ongoing concerns related to the COVID-19 virus, DTC will continue suspending all physical processing services until further notice. DTC requests that participants and transfer agents do not send any certificates via messenger, courier services or USPS to DTC until further notice. DTC will not have a mechanism to accept or perform any transaction processing.

All other DTC services remain business as usual. DTC will reassess the situation and update their status on Friday, 15 May 2020.

Impact on customers

Clearstream Banking’s physical security processing services remain unavailable in the U.S.A. until further notice.

Further information

We will continue to monitor the situation, and will inform customers when further news is received from the market.

For further information, customers may contact Clearstream Banking Client Services 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.