UniCredit Bank Czech Republic would like to advise its clients of the new, recently published CSD Account Maintenance and Fee documents with different effective dates.
Information on the change of the CSD Price list
The main change in the price list valid from 7 January 2020 concerns the distribution of fees for bonds. The CSD focuses on a detailed analysis and international comparison with the issuer's decision on bond issuance fees and the increase in bond management fees on the asset account paid by the bond holder.
“We are convinced that the gradual approximation of the fee structure of foreign depositories is a possible condition for maintaining the competitiveness of the Central Depositories in Europe and the possible domestic capital market. The aim of this change is to provide long-term services to issuers of future long-term profits, bond holders and your participants”, explains the decisions of the Central Depository's CEO Ondřej Dusílek
The newly published Fee Schedules are available on the CSD’s website (note the two different effective dates):
The main changes are available in Section B “Tariffs”.
Impact on investors: The new Fee that will be introduced by the CSD will have an impact of the volume of fees that UniCredit Czech Republic will be re-invoicing to its’ clients on a monthly basis, as received from the Central Depository.