Clearstream Banking1 informs clients on the treatment in CBF’s collateral management services (Xemac®) at Easter and on 1 May 2024.
CBF’s collateral management services will be closed on Good Friday (29 March 2024) and Easter Monday (1 April 2024), but will be available on 1 May 2024.
As T2S supports free of payment (FoP) settlement on 1 May, CBF clients can maintain their collateral holdings, that is, transfers of positions to and out of the Xemac pool are possible. In addition, substitutions can occur. The Xemac reporting will be transmitted as for any other regular business day.
For the calculation of the collateral value, Xemac will use the latest price files provided. Therefore, the collateral value can be impacted by an update of the underlying securities static data. An already allocated security can become invalid. Clients should be prepared to have sufficient securities in their collateral pool.
As claim amount changes in Xemac in favour of Deutsche Bundesbank will not be considered by Bundesbank on 1 May 2024, CBF recommends that clients do not initiate such changes on this day. Clients should consider that a reduction of the claim amount towards the Bundesbank cannot be executed and will be rejected.
Further information
For further information, clients may contact Clearstream Banking Client Services or their 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.
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