Central bank money services

For cash settlement, Clearstream uses central banks, correspondent banks (cash agents) and payment systems where clients keep their corresponding cash accounts.

  • All EUR payments resulting from the settlement of transactions with securities in Collective Safe Custody (CSC), interest and redemption payments for German government bonds as well as cross-border market and reverse claims for securities in Foreign Collective Safe Custody (FCSC) are settled via T2S.
  • All payments resulting from other custody payments with CSC securities, and from the settlement of fees and charges in CASCADE, are settled in EUR via TARGET2.
  • A special case is the settlement of payments in CHF through the Swiss National Bank. This link is only used for cash settlement of transactions in relation to Swiss CSC securities against CHF.