Unconfirmed Funds Facilty

Unconfirmed funds are determined on the basis of:

  • Pre-advice instructions, between their value date and the time when the receipt of funds is confirmed by Clearstream’s cash correspondent
  • An ‘against payment deliveries of securities’ instruction, between the expected value date of funds to be received and the time when confirmation of settlement is actually received by CBL from the clearing system or depository.

Until confirmation is received, such funds appear on client reports as unconfirmed funds. When confirmation has been received, the funds are credited as confirmed funds, with value date of the pre-advice, or if for an “against payment delivery of securities” instruction, with the value date on which the funds were received by CBL.