Hungary: SDR daily penalty system limitation for domestic transactions – Further information


Further to Announcement A22066, Clearstream Banking1 would like to inform customers that due to some system limitations, the daily penalties for Hungarian domestic transactions are still only visible in Xact Web Portal. The MT537 reports on daily penalties from 2 May 2022 onwards for these instructions cannot be sent to customers until further notice.

The same limitation applies to the daily penalties for the months of February, March and April 2022, calculated with delay by the Hungarian CSD KELER and due on 20 July 2022.

Impact on customers

There will be no daily penalty MT537 message sent to customers until further notice.

In the meantime, customers should check their domestic market Hungarian penalties in Xact Web Portal and submit their appeals in line with the Clearstream Banking standard appeal process.

As a reminder, the appeal deadline is 14 June 2022 for the May 2022 penalties and 30 June 2022 for the February, March and April 2022 penalties.

Clearstream Banking is working with the market to get the situation resolved and will inform customers once it knows when the missing daily MT537 message will be sent.

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.