T2S Preparations in Bulgaria – Migration Preparation and Amended Settlement Deadlines of BNB

The Bulgarian National Bank (“BNB”) has made the following announcement related to its upcoming migration to TARGET2-Securities (“T2S”) on 11 September 2023:

• ISIN BG2040210218 will be the only government security which will be migrated to T2S.
• To mitigate operational and reputational risk for the Eurosystem and BNB:
• trading in ISIN BG2040210218 will be suspended by Bulgarian Stock Exchange AD (“BSE”) in the period 5 - 7 September 2023, and
• no OTC settlement for transactions in the above ISIN will be allowed by BNB in the period 8 - 11 September 2023.
• Amendments to the system day schedule for government securities including settlement deadlines shall enter into force as of 11 September 2023.

 UniCredit Bulbank will analyze the above deadline amendments to be introduced by BNB and share further information with its clients upon completion of the analysis.

 In addition, Bulgarian Stock Exchange AD has announced the suspension of trading for the period 5 - 8 September 2023 of the following bond instruments safekept at Central Depository AD:

Impact on investors: For information purposes. T2S-related trading and settlement suspension in the period 5 - 11 September 2023 to be noted.