CSDR penalties: Further information on charges for rejected “appeals”
Reference
Further to Announcement D22002, Clearstream Banking1 informs its customers that as of
1 August 2022
customer penalty “appeals” that are ultimately rejected will be charged according to the Clearstream Banking Fee Schedule.
This means, appeals that are rejected on and after this date upon assessment by Clearstream Banking or the relevant penalty mechanism provider (for example, T2S) will be subject to a rejection fee in line with the invoicing item hourly rate2 for special operational services and specific requests from customers.
The relevant fees will be reported in the Clearstream Banking monthly invoicing as a lump-sum without stating appeal references. The individual rejected appeals can be queried via Xact Web Portal:
- “Settlement → Penalties → Appeals”;
- Select “Appeal Status = Rejected” and the relevant “Last updated” time period).
Further information
For further information, please contact Customer Service or your Relationship Officer.
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1. Clearstream Banking refers to 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.
2. Any rejection is considered to apply processing efforts of one full hour by default, so the appeal rejection fee is identical in all cases.