BNB has informed participants in ESROT (The Electronic System for Registration and Servicing of Trades in Government Securities) that CSDR-related testing is planned in the period 17 - 21 January 2022.
The tests with ESROT participants shall include the following new CSD system functionalities related to settlement discipline:
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Recycling by BNB of failed settlement instructions within 4 business days
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Bilateral cancellation of matched settlement instructions whose settlement has failed within 4 business days
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Accrual and debiting of penalty interest for failed settlement from the defaulting ESROT participant
Additional details will be announced by BNB in due course.
Impact on investors: CSDR testing with BNB shall allow for better readiness of CSD members in view of the CSDR requirements coming into force as of 1 February 2022.