Participants’ Default Rules at Central Depository

UniCredit Bank S.A.
Central Securities Depository (CSD) published the rules and procedures regarding the participants’ default
Fri, 29/01/2021

The Central Securities Depository published the internal rules applicable in the event of a financial default of a participant in the CSD system, in accordance with the provisions of art. 41 of the EU Regulation no. 909/2014.

The procedure covers aspects such as:

    • the legal framework applicable to the insolvency and default of the participants;
    • the applicable rules in the event of the default of a participant comprising the measures and actions to be adopted by the CSD, communication of the taken measures to the relevant entities;
    • periodic testing and review of the procedure in the event of a participant's default

The procedure may be accessed on the following link taken from the Central Depository’s website:

Impact on investors:   Direct Participants of the CSD should make note of the new rules and procedures.