Year-end processing and instruction deadlines 2022 - Update
Note: This announcement, originally published on 29 November 2022, has been updated to add Argentina, Canada, Mexico, South Africa, Uruguay, the U.S.A. and updates to the United Kingdom. Changes have been highlighted.
Clearstream Banking1 reminds customers of the impact of the year-end holidays on settlement and cash processing.
All times in this Announcement are Central European Time (CET).
Clearstream Banking year-end processing
25 December 2022 and 1 January 2023, usually Clearstream Banking non-business days, fall on a Sunday.
Nonetheless, the night-time processing (between Clearstream Banking and Euroclear Bank) will take place on both Friday nights, that is, 23 December and 30 December 2022.
Instruction timings for Clearstream Banking customers
Customers should pay special attention to the following details related to securities instructions that contain a requested settlement date that is the same as a Clearstream Banking non-business day.
For domestic, internal and Bridge instructions, the usual rules and procedures shall apply.
Securities and cash instructions
Customers are reminded that any special processing requirements for public holidays are shown in the Cash and Securities Holidays table, which is updated as soon as information is made available for the respective markets.
In the below-mentioned markets, however, exceptional deadlines or exceptional arrangements apply:
Argentina
Early closure on 23 and 30 December 2022:
Cash payment deadline:
- 18:00 CET
Canada
Early closure on 23 and 30 December 2022.
Clearstream Banking deadlines are as follows:
Cash payments | VD 18:00 |
Settlement instructions against payment | VD 18:00 |
Settlement instructions free of payment | unchanged |
Croatia
Due to the conversion of HRK to EUR, special deadlines apply for both settlement and cash instructions as of 28 December 2022.
For more details, customers should refer to Announcement A22148.
Mexico
Early closure on 23 and 30 December 2022.
Clearstream Banking deadlines are as follows:
Cash payments | VD 18:00 |
Settlement instructions against payment | VD 18:00 |
Settlement instructions free of payment | unchanged |
Poland
Early closure on 30 December 2022:
- Securities deadline: 10:45 CET.
Cash payment deadline:
- 09:45 CET for payments below 1 million PLN.
- 11:45 CET for payments above 1 million PLN.
South Africa
Early closure on 23 and 30 December 2022:
Cash payment deadline:
- 09:00 CET
United Kingdom
Changed deadline on 23 and 30 December 2022.
Clearstream Banking deadline will be as follows:
Against payment - Securities deposited in Citibank UK | 16:00 CET |
Against payment - Gilts | 16:00 CET |
Cash pre-advices and withdrawals of funds | 16:00 CET |
Important note for GBP cash deadline on 30 December 2022
Instructions transmitted after the above-mentioned Clearstream Banking deadline, but for the same requested settlement date, could still settle on the requested settlement date and therefore could affect customer cash balances at close of business.
For more details, customers should refer to Announcement A22138.
Uruguay
Early closure on 23 and 30 December 2022:
Cash payment deadline:
- 18:00 CET
U.S.A.
Changed deadlines on 23 and 30 December 2022.
Clearstream Banking deadlines are as follows:
Cash payments | VD 18:00 CET |
Settlement instructions against payment | VD 18:00 CET |
Settlement instructions free of payment | unchanged |
Note: The U.S. is closed on 26 December 2022.
Instructions transmitted after the above Clearstream Banking deadline, but for the same requested settlement date, could still settle on the requested settlement date and therefore could affect customer cash balances at close of business.
The above-mentioned Clearstream Banking deadlines are valid provided that the customer’s instructions are complete, accurate and eligible for straight-through processing (STP) in Clearstream Banking and in the local market. Customers must also ensure that any necessary provision is available. If any of these criteria are not met, Clearstream Banking cannot guarantee timely settlement.
Christmas Day 2022 and New Year's Day 2023
Clearstream Banking will be closed on Christmas Day 2022 and New Year's Day 2023 as both dates are falling on a Sunday.
Business will be as usual on 26 December 2022 and on 2 January 2023.
Season’s Greetings
We would like to take this opportunity to wish all customers an enjoyable and peaceful end of year and a prosperous and happy 2023.
Further information
For further information please contact Clearstream Banking Client Services or your Relationship Officer.
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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.