Xact Web Portal: Credit Usage and High Liquidity Collateral (HLC) management
Clearstream Banking1 would like to inform customers that according to the conditions specified in Article 9, Article 10(1) and Article 10(2) of Commission Delegated Regulation (EU) 2017/390 of 11 November 2016 (supplementing Regulation (EU) No 909/2014), and further to Announcement A20054, it will introduce a new credit usage and HLC monitoring module in Xact Web Portal, effective
7 December 2020
Background
In line with the above regulation, Clearstream Banking offers customers the possibility of monitoring their High Liquidity Collateral (HLC) value against the credit line usage as defined in the contractual Credit Terms and Conditions (CTCs) establishing the need for the customer to cover their credit line exposure.
To assist customers in complying with the minimum HLC requirement, a new module is available in Xact Web Portal that allows a user with the adequate profile to query for:
- Their credit line usage;
- The total value and percentage of HLC;
- The value of additional HLC to be brought by the customer if a minimum HLC breach at the account, umbrella or institution level has occurred.
Xact Web Portal queries
Customers are able to use a new “Credit Usage & HLC Query” sub-domain under “Cash & Liquidity”, “Usage” in Xact Web Portal that displays data both at institution and account level.
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Institution “Credit Usage & HLC”
Displays summary information at institution level as follows:
- Institution: Name of the institution;
- Business date and time: Date and time stamp;
- Total Credit Line Usage: Total credit line amount used in USD countervalue;
- Total HLC: Total high liquidity collateral available in USD countervalue;
- Total HLC %: Percentage of total high liquidity collateral value versus the total credit line amount in USD countervalue;
- Additional Required HLC: Additional high liquidity collateral needed compared to the available HLC in USD countervalue.
Current Usage Details per account
Displays detailed information at individual account level for all accounts belonging to the same institution (Note: The level of completeness of the account list depends on the business user privileges and access rights allocated to their profile):
- Account: Account number;
- Relationship Name: Name of the account;
- Umbrella ID: Umbrella account number;
- Umbrella Relationship Name: Name of the umbrella account;
- CCY: USD countervalue;
- Credit Line Usage: Amount of the credit line used;
- Collateral Value: Collateral value amount;
- HLC Value: High liquidity collateral value amount;
- Shared Credit: Indicates whether the account benefits from the total credit line;
- Shared Collateral: Indicates whether the account benefits from the total collateral;
- Collateral Contributor: Indicates whether the account contributes to the total collateral;
- Right of Pledge: Indicates whether the account has the right to pledge securities.
The query results are exportable to XLS or PDF.
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Further information
Customers may also refer to the Xact Web Portal User Manual.
For further information, please contact the Clearstream Banking Connectivity Helpdesk 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.