Belgium: EU Issuance Service (EIS) – New One-Time Certificate for relief at source process published
Clearstream Banking1 informs clients that effective
immediately
a new One-Time Certificate for EIS/EU Debt Securities integrated into the X/N system of the National Bank of Belgium (NBB) has been published under Tax forms to use – Belgium.
Clients shall provide Clearstream Banking with the completed document in order to obtain the possibility to hold EIS EU debt securities in the X/N account.
Background
As described in Announcements C23005 and C23016, the EU will issue single branded EU bonds under the EU Issuance Service (EIS) that will reinforce the NextGenerationEU programme in 2024. These EU bonds will be issued by the NBB who has been appointed by the EU as the Issuer CSD. They will be held in the NBB under Clearstream Banking's X account (exempt account) and are therefore fully tax-exempted.
Impact on clients
Clients who do not currently have a One-Time Certificate and plan to hold EIS securities should provide the new document prior to the first settlement.
Clients who have a One Time Certificate for Belgian debt securities deposited with the NBB and plan to hold EIS securities must provide the One-Time Certificate in addition to the current form.
Clients who do not plan to hold EIS securities do not need to provide the One-Time Certificate.
Further information
For further information, please contact Clearstream Banking Client Services or your 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, registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500.