CSDR penalties: 2024 schedule – Update
Note: This Announcement, originally published on 9 January 2024, has been amended to include an update to the December penalties payment date. Changes have been highlighted.
Clearstream Banking1 informs clients of the processing schedule for penalties according to the EU Central Securities Depositories Regulation (CSDR) in
2024
The standard calendar Penalty Business Days (PBDs2) apply to TARGET2-Securities (T2S) as well as to Clearstream Banking internal and Bridge settlement fails related penalties.
| Payment month | Client appeals period end date (10th PBD) | Monthly penalties reporting date (14th PBD) | Penalties payment date (18th PBD) |
January | 15 January | 19 January | 25 January |
February | 14 February | 20 February | 26 February |
March | 14 March | 20 March | 26 March |
April | 12 April | 18 April | 24 April |
May | 14 May | 20 May | 24 May |
June | 14 June | 20 June | 26 June |
July | 12 July | 18 July | 24 July |
August | 14 August | 20 August | 26 August |
September | 13 September | 19 September | 25 September |
October | 14 October | 18 October | 24 October |
November | 14 November | 20 November | 26 November |
December | 13 December | 19 December | 27 December (as T2S is closed on 26 Dec 2024) |
Note: For non-T2S domestic market settlement fails, the dates as to be communicated by each market apply.
For all markets, independent from the local CSDs’ individual approaches, Clearstream Banking will generate the Clearstream Banking internal payments free of delivery (PFODs) for its clients with trade date 15th PBD and intended settlement date 18th PBD.
For more detailed information, please consult the “CSDR Settlement Discipline Regime” section of the CBF Client Handbook.
Further information
For further information, please contact Clearstream Banking Client Services or your Relationship Officer.
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1. This Announcement is published by Clearstream Banking AG (CBF), registered office at Mergenthalerallee 61, 65760 Eschborn, Germany, registered with the Commercial Register of the District Court in Frankfurt am Main, Germany, under number HRB 7500.
2. PBDs apply to penalties appeals, monthly reporting and payment processing by a CSD. According to the ECSDA settlement fails penalties framework, “a PBD is any day of the year except for 1 January and 25 December and Saturdays, Sundays”.