Settlement services - Serbia
Procedures for domestic counterparties
Procedure for the domestic local counterparty
Sovereign debt denominated in RSD
Central Securities Depository SWIFT address (CSDERSB1XXX)
Procedure for CBL customers
Settlement of Domestic Receipt Against Payment in Serbian Dinar (“RSD”) with a local counterparty (MT541)
Customers must pre-fund their RSD account in CBL for receipt against payment settlement instructions. Cash will be reserved for settlement onto the CBL technical account 51274 until the settlement is confirmed and received by the market.1
If there is a pre-funding failure, the instructions will remain in “Money Provision” until the account is duly funded.
* For cash format, please refer to the Market Link Guide “Cash services”
Funding of Serbia Dinar (“RSD”)
To fund against payment settlement instructions in RSD, customers can:
- Use the existing Clearstream FX services described in the Customer Handbook; or
- Use its existing balance in RSD derived from previous income proceeds if the funds are eligible for settlement purposes; or
- Fund the account directly in RSD by paying to the Clearstream Banking Cash Correspondent Bank as described in the Cash Services and the Cash Timings Matrix; or
- Execute a foreign exchange instruction with a local third party foreign exchange agent.
Funds paid to the Clearstream Banking CCB RSD account must duly be identified, including the Clearstream Banking beneficiary account and they must be pre-advised.
Management of failed instructions
If instructions with domestic counterparties have not settled by the requested settlement date (SD), they can be cancelled via a cancellation instruction from the customer. Instructions for transactions to be settled will remain pending for two days before automatic cancellation.
Cancellation of instructions
Unilateral cancellation is possible if instructions with domestic counterparties have not settled, or the settlement instructions have not been sent for settlement or accepted for settlement by depository.
1. For cash format, please refer to the Market Link Guide - Cash services