One-time extension of OTC RVP/DVP Settlement and Cash Transfer Deadlines

UniCredit Bank Slovenija d.d.
Summary: 
Due to an expected increase in settlement activities, KDD will extend the deadline for settlement against payment of OTC transactions and the deadline for cash transfers at UniCredit Bank Slovenia with Slovenian government bond on 28 July 2015.
Fri, 24/07/2015

The Slovenian Government issued on 21 July 2015 a government bond with a face value of EUR 1.25 billion. The ISIN code of the bond is SI0002103545 (10-year maturity). The settlement of the new issue will take place on 28 July 2015.

As a result of the expected increase in settlement activities, KDD will prolong the deadline for settlement against payment of OTC transactions with the newly issued bond (as identified above) from 16:00 CET to 16:45, applicable only to the settlement date 28 July 2015.

Consequently, UniCredit Bank Slovenia will also prolong its deadline towards clients for settlement of transactions with the above bonds until 16:15 CET (30 minutes prior to the market deadline) on that day only. All instructions received after this deadline will be settled on a best-effort basis.

Furthermore, UniCredit Bank Slovenia will also extend its cut-off time for bank-to-bank cash payments (SWIFT MT200 and MT202) until 17:00 CET on 28 July 2015 only.

We encourage you to contact our relationship and operational teams to discuss this further, so that we can make sure that you receive timely and efficient support with regards to your activities.


Impact on investors: The extended deadline for the settlement of the new issue of government bond will contribute to reducing the amount of settlement failures and, therefore, operational risk. The extended cash cut-off times will accommodate the possibility for later settlement of securities transactions with the newly issued government securitiy, and will allow an efficient management of our clients' cash balances in line with their liquidity policies.