Cash services – Ukraine

Cash instruction deadlines

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

The deadlines for client cash instructions in UAH are as follows:

MX/Pacs.009 Cash instruction format

Important note: Clients that are instructing a withdrawal or entry of funds in UAH need to respect the following instruction formats. Payments will be rejected in the event of failure.

CBL clients are reminded that final beneficiaries of Ukrainian Government bonds for cash transactions settled via the link can be non-resident institutions and local Ukrainian banks only.

In addition, clients must pay specific attention to the reason wording in field :72:/BNF/.

1. Outbound payments

a) Transfer from non-resident CBL cash account to own local on-shore non-resident cash account

b) Reinvestment from non-resident CBL cash account to non-resident local on-shore cash account

c) Reinvestment From non-resident CBL cash account to resident local banks of Ukraine

2. Inbound payments

a) From own non-resident local on-shore cash account to own non-resident CBL cash account

Scenario: CBL client transfers UAH funds between its on-shore account and own CBL cash account.

b) From non-resident local on-shore cash account or local resident bank on-shore cash account to own non-resident CBL cash account

Scenario: CBL client sells government bonds to another non-resident on-shore or a local bank on-shore in Ukraine.

FX repatriation

According to Regulation #68, dated 19 May 2023, holders of securities eligible for repatriation have the obligation to hold these securities for a period of 90 calendar days (CDs), prior to the payment date of the interest/coupon derived from any government bonds in UAH, to be eligible for FX/repatriation.

Clients should note that interest/coupon derived from government bonds, including the so-called “military bonds” is eligible to FX/repatriation while redemption is out of scope and remains unrepatriable until further notice.

Clearstream issues a corporate action event (OTHR) via MT564 to provide the clients in favour of whom the proceeds have been received, the option to send a confirmation of indemnity. If the confirmation of indemnity is received, Clearstream will perform the FX/repatriation to those clients on their regular accounts.

This indemnity (the “Indemnity”) in the context of the UAH FX/repatriation event (the “Event”) serviced by Clearstream Banking S.A. (“CBL”):

We hereby represent and warrant, in the context of the Event, that (i) we or any of our underlying clients have retained the securities for a period of 90 calendar days prior to the coupon/interest payment, (ii) no request of FX/repatriation from us or any of our underlying clients has occurred in deviation from the framework in place with the official local regulation issued by National Bank of Ukraine (“NBU”) (the “Warranty”).

We certify that we have performed all the necessary checks and due diligence to fully satisfy ourselves as to the accuracy of the Warranty and have obtained all supporting documents (if any) in relation thereto (the “Certification”).

We hereby agree that we shall assume full responsibility in relation to the accuracy, reliability or completeness of the above Warranty and Certification.

In consideration of the above, we expressly agree that we shall fully indemnify, defend and hold CBL harmless from and against, any and all claim levied against CBL, loss, liability, damage, judgment, settlement, fine, penalty, demand, cost or expense suffered by CBL (including, without limitation, fees and expenses of defending itself or enforcing this agreement) arising out of or in connection with this Indemnity; including any claims, penalties, taxes and interest thereon, levied by any competent authority in connection with the Warranty and/or the Certification, or in respect of any other costs incurred, in connection with any action taken by CBL in reliance upon the content of this Indemnity.

This Indemnity shall be governed and construed in accordance with the law of Luxembourg.

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1. Always NA 000000000 for non-residents.

2. USRC is a Unified State Register Code (Unified State Register of Enterprises and Organizations of Ukraine).