One-time Extention of OTC RVP/DVP Settlement and Cash Transfer Deadlines

UniCredit Bank Slovenija d.d.
Summary: 
Due to an expected increase in settlement activities, on 3 March 2016 KDD will extend the deadline for settlement against payment of OTC transactions and UniCredit Bank Slovenia will accordingly extend its own deadline for securities and cash transfers
Wed, 02/03/2016

On 25 February 2016 the Slovenian Government issued a new government bond, ISIN SI0002103602, with face value of EUR 1.5 billion, the settlement of which will take place on 3 March 2016.

As a result of the expected increase in settlement activities, KDD will prolong the deadline for settlement against payment of OTC transactions with the above newly issued bond from 16:00 CET to 16:45 CET, applicable only for settlement on 3 March 2016.

In line with the above, UniCredit Bank Slovenia will also prolong its client deadline for settlement of transactions with the above bonds until 16:15 CET (30 minutes prior to the market deadline) on 3 March 2016 only. All instructions received after this deadline will be settled on a best-effort basis.

Furthermore, UniCredit Bank Slovenia will also extend its cut-off time for bank-to-bank cash payments (SWIFT MT200 and MT202) until 17:00 CET on 3 March 2016 only.

Please do not hesitate to contact our relationship and operational teams for any further assistance so that we can ensure you receive timely and efficient support with regards to your activities.

Impact on investors: The increased deadline for settlement of the newly issued  government bond will contribute to reducing the amount of settlement failures and, therefore, operational risk. The extended cash cut-off times will accommodate the possibility for later settlement of securities transactions with the newly issued government securities, which will allow for an efficient management of our clients' cash balances in line with their liquidity policies.