Turkey: Change of depository and cash correspondent bank

Effective from settlement date

26 November 2012

Türk Ekonomi Bankasi A.S. (TEB) will replace Turkiye Is Bankasi (Isbank) as our local depository and cash correspondent bank (CCB).

New depository details:

Türk Ekonomi Bankasi A.S. (TEB)
TEB Kampüs C ve D Blok
Saray Mah. Sokullu Cad.
No:7A - 7B Ümraniye
34768 / Istanbul - Türkiye

Depository Code: 2T
BIC address : TEBUTRIS930

New CCB details:

Currency: Turkish Lira (TRY)
CCB Name: Türk Ekonomi Bankası A.Ş. (TEB)
CBL account: TR360003200000000009000000
SWIFT address: TEBUTRIS930

Impact on customers

The change of depository and cash correspondent bank will be in place as of close of business on Friday, 23 November 2012 and, as a result, provisioning times, settlement and cash deadlines will be improved.

Securities settlement and cash instruction formats will remain unchanged and we take this opportunity to remind Clearstream Banking¹ customers that the following details are (as now) mandatory in the respective customer settlement instructions:

• The deal (Trade) price in all instructions except receipt free of payment instructions;
• The relevant Tax ID in all instructions, in the respective Settlement Processing Narrative field; and
• The Beneficiary account number (:97A:SAFE, Place of Safekeeping) with the counterparty for delivery free of payment.

Enhanced securities settlement and cash instruction timings

Note: All times are Central European Time (CET).

Settlement times

The deadlines shown below are valid provided that the customer's instructions are complete, accurate and eligible for STP straight-through processing (STP) in CBL and in the local market. Customers must also ensure that any necessary provision is available. If any of these criteria are not met, CBL cannot guarantee timely settlement.

Cash times

With the new CCB TEB, the cash deadlines for all pre-advices and withdrawals of funds in Turkish Lira (TRY) will be improved from VD 13:30 to VD 14:20.

Unless otherwise indicated, the new deadline will be valid provided that customer instructions are complete, accurate and eligible for straight-through processing (STP) in Creation and in the local market. Customers must also ensure that any necessary cash provision is available. If these criteria are not met, we cannot guarantee timely settlement.

Customer guidelines for the cutover

Securities

We strongly recommend customers to enter domestic settlement instructions with a requested settlement date on/after 26 November 2012 after 18:30 on Friday, 23 November 2012.

Domestic settlement instructions with settlement date on/before Friday, 23 November 2012 will be handled as follows:

• All settlement instructions settling before and up to 23 November 2012 will be handled and confirmed by Isbank.
  
• Pending instructions not provisioned in Clearstream system by end of day of 23 November 2012 will be cancelled and customers will need to re-instruct with the new depository (TEB) details.
  
• Instructions that remain unmatched and unsettled at Isbank by end of day of 23 November 2012 will be cancelled by Isbank. Clearstream will also cancel these instructions in its system and customers will need to re-instruct with the new depository (TEB) details.

Customers will be informed of cancellations accordingly via MT548 and will therefore need to re-instruct with TEB's details after 18:30 on Friday, 23 November 2012.

Cash

All cash pre-advices and payments for value date 26 November 2012 must be sent to TEB at SWIFT address TEBUTRIS930.

• All cash pre-advices received at Isbank for value date 26 November 2012 and later will be rejected.
• All uncovered cash pre-advices received at Isbank on 23 November 2012 that remains pending at the close of business in Turkey will be cancelled on 26 November 2012.

Customers will need to re-instruct cash pre-advices with TEB’s details.

New procedures for domestic counterparties

For instructions with a requested settlement date on or after 26 November 2012, customers must advise their counterparties to use the new details with TEB.

Receipt in CBL

For receipt transactions free of and against payment, domestic counterparties must instruct the Turkish CSD Takasbank as follows:

Deliver to: Türk Ekonomi Bankasi A.S. / participant number TYS.

For the account of: An 8-digit beneficial owner identifier that will be provided by TEB and that CBL will communicate to each of its customers.

Delivery from CBL

For delivery transactions free of and against payment, domestic counterparties must instruct the Turkish CSD Takasbank as follows:

Receive from: Türk Ekonomi A.S. / participant number TYS.

By order of: An 8-digit beneficial owner identifier that will be provided by TEB and that CBL will communicate to each of its customers.

Further information

An updated Creation Link Guide (Turkey) will be available on our website on the effective date to reflect the changes.

For further information, customers may contact Clearstream Banking Customer Service or their Relationship Officer.

1. Clearstream Banking refers to Clearstream Banking, société anonyme, registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Register of Commerce and Companies under number B-9248 (CBL).