Cross-Border Custody - Citibank Delays the Start Date for Non-affirmed Transactions Collection Transfer

Dear Participants,

In Circular No. 364, dated October 10, 2024, DCV provided information on Citibank's affirmation process, cut-off times, and fees in the context of the T+1 settlement cycle.

In this regard, we inform you that Citibank has decided to delay the starting date of the additional charge for the transactions that Citibank does not affirm. This charge will begin to be transferred to the transactions of December 2024 (formerly October 2024) and will be informed by DCV to its depositors in the billing process reported in February 2025 (formerly December 2024).

The cost overrun will be applied to sales transactions against payment or free-of-payment transactions corresponding to Delivery transactions that our custodian registers in DTC. Due to the above, we suggest prioritizing these transactions when instructing to DCV.

DCV will instruct the transactions to the custodian to the extent that the funds (USD) have been received in the case of purchases and if there are enough holdings in the account in the case of sales.

May you have any questions, please contact us through the following channels
Help Desk - MAC
This email address is being protected from spambots. You need JavaScript enabled to view it. I +56 22 393 9001
 

Kind regards,
DEPÓSITO CENTRAL DE VALORES S.A.,
DEPÓSITO DE VALORES