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Dear Depositors
As you are aware, Depósito Central de Valores S.A., Depósito de Valores (DCV)®, offers Cross-border custody services to its depositors, due to which it has signed agreements with international custodians.
The service is governed by the provisions of the Internal Regulations of DCV, by the Cross-border Custody Annex, by the provisions of the Operating Guide of the Service published at www.dcv.cl, and the specific rules that each of the International Custodians impose to operate, which shall be binding for depositors and their investors. Those participants who operate through a third-party account are responsible for informing their investors about the rules and the circumstances to which they apply.
By means of this circular, we communicate to our depositors the regulations received from Euroclear Bank on the occasion of legislative changes in Belgium, which come into force on this date and which amend the terms and conditions governing the relationship with Euroclear and the operating procedures.
The main changes relate to the following:
- Book 6 of the Belgian Civil Code will be updated effective January 1, 2025.
- Business resilience initiatives.
- Management of excess cash balances.
- Evolution of the geopolitical landscape.
- Euroclear Bank cash accounts.
Further details are described in the document “Summary of regulations amended by Euroclear Bank,” which is reference information prepared by DCV.
The Operational Guide of the Cross-Border Custody Service will be updated soon.
Kind regards,
DEPÓSITO CENTRAL DE VALORES S.A.,
DEPÓSITO DE VALORES
