Spain: Reminder - new qualifier for pledge instructions - Revision

Note: This announcement originally published on 12 June 2015 has been updated to correct the mandatory qualifier code included in the pledge instruction. The change is highlighted.

Clearstream Banking¹  reminds customers that effective

15 June 2015

the qualifier CNCB (Central Bank Collateral Operation) will become mandatory in field :22F::SETR for pledge instructions on the Spanish market. This was previously announced in Announcement A14157 dated 22 April 2015.

Clearing and Settlement Instructions - MT540, MT541, MT542 and MT543

From 15 June 2015, customers of Clearstream choosing to use the pledge method to receive credit from their Central Banks must indicate the following in their pledge instruction.

Failure to do so may result in the instruction not being identified as pledge instruction and not being reported accurately in the position report.

Clearing and Settlement Reports - MT544, MT545, MT546 and MT547

In Sequence E, field :22F::SETR, the new qualifier CNCB will be reported if present in the original clearing and settlement instruction. It will also be reported in the Securities Post-Release in CreationOnline.

Further information

An updated Creation Link Guide (Spain) will be available on our website on the effective date to reflect the changes.

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

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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.