We would like to inform our clients that KELER, the Hungarian CSD, has announced new tolerance limits for settlement, applicable from 3 January 2024. As per KELER’s Depository Announcement No.9-20 on the Detailed Presentation of Orders, tolerance limits are used in tiers: for settlement amounts up to EUR 100 000 it is EUR 2, for settlement amounts exceeding EUR 100 000 it is EUR 25, or equivalent currency amounts.
Based on the exchange rates published by the European Central Bank on 29 December 2023, the new tolerance levels will be the following:
|
Currency |
Settlement amount band |
Tolerance limit within the band |
Tolerance limit above the band |
Exchange rate (EUR/CCY) |
|
HUF |
38 280 000 |
766 |
9 570 |
382.80 |
|
EUR |
100 000.00 |
2.00 |
25.00 |
1 |
Impact on investors: For information purposes