Philippines: Segregation of assets at the CSDs in sub-accounts opened via Standard Chartered Bank


Clearstream Banking1 would like to inform customers that effective

1 February 2021

assets currently custodised with it in the Philippines will be segregated from the assets of the custodian’s (Standard Chartered Bank, Philippines) other customers. This segregation will be achieved through sub-accounts that Clearstream Banking has opened via Standard Chartered Bank at both the Philippine Depository and Trust Corporation and the Bureau of Treasury. As a result of this account segregation at CSD level, Clearstream Banking will be able to provide enhanced asset protection of its Philippines link.

Impact on customers

There is no impact to customers or the counterparties as the settlement instructions and the SSI currently used will remain unchanged (refer to Procedures for domestic counterparties in Settlement services - Philippines for further information).

No further actions will be required as a result of this enhancement.

Further information

For further information, customers may contact Clearstream Banking Client Services or their Relationship Officer.


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 (for Clearstream Banking AG customers using Creation Accounts), registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500.