ANNEX I - Penalty rates applicable to settlement fails
Info
🔗 Back to Summary. 🇫🇷 French Version: 2017R0389_FR.I. Back to Summary of LVL1. Link to the PDF. Direct link to EUR-LEX.
Article 9 – Entry into force and application ⬅️ | ➡️ Retour au sommaire
Type of fail
Rate
1.
Settlement fail due to a lack of shares that have a liquid market within the meaning of point (b) of Article 2(1)(17) of Regulation (EU) No 600/2014, excluding shares referred to in point 3 1,0 basis point
2.
Settlement fail due to a lack of shares that do not have a liquid market within the meaning of point (b) of Article 2(1)(17) of Regulation (EU) No 600/2014, excluding shares referred to in point 3
0,5 basis point
3.
Settlement fail due to a lack of financial instruments traded on SME growth markets, excluding debt instruments referred to in point 6
0,25 basis point
4.
Settlement fail due to a lack of debt instruments issued or guaranteed by:
(a)
a sovereign issuer as defined in Article 4(1)(60) of Directive 2014/65/EU;
(b)
a third country sovereign issuer;
(c)
a local government authority;
(d)
a central bank;
(e)
any multilateral development bank referred to in the second subparagraph of Article 117(1) and in 2013 of the European Parliament and of the Council
;
(f)
the European Financial Stability Facility or the European Stability Mechanism.
0,10 basis point
5.
Settlement fail due to a lack of debt instruments other than those referred to in points 4 and 6
0,20 basis point
6.
Settlement fail due to a lack of debt instruments traded on SME growth markets
0,15 basis point
7.
Settlement fail due to a lack of all other financial instruments not covered in points 1 to 6
0,5 basis point
8.
Settlement fail due to a lack of cash
Official interest rate for overnight credit charged by the central bank issuing the settlement currency with a floor of 0
Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012.# Table 1 in anx_1
| Type of fail | Rate |
|---|---|
| 1.Settlement fail due to a lack of shares that have a liquid market within the meaning of point (b) of Article 2(1)(17) of Regulation (EU) No 600/2014, excluding shares referred to in point 3 | 1. |
| 1. | Settlement fail due to a lack of shares that have a liquid market within the meaning of point (b) of Article 2(1)(17) of Regulation (EU) No 600/2014, excluding shares referred to in point 3 |
| 2.Settlement fail due to a lack of shares that do not have a liquid market within the meaning of point (b) of Article 2(1)(17) of Regulation (EU) No 600/2014, excluding shares referred to in point 3 | 2. |
| 2. | Settlement fail due to a lack of shares that do not have a liquid market within the meaning of point (b) of Article 2(1)(17) of Regulation (EU) No 600/2014, excluding shares referred to in point 3 |
| 3.Settlement fail due to a lack of financial instruments traded on SME growth markets, excluding debt instruments referred to in point 6 | 3. |
| 3. | Settlement fail due to a lack of financial instruments traded on SME growth markets, excluding debt instruments referred to in point 6 |
| 4.Settlement fail due to a lack of debt instruments issued or guaranteed by:(a)a sovereign issuer as defined in Article 4(1)(60) of Directive 2014/65/EU;(b)a third country sovereign issuer;(c)a local government authority;(d)a central bank;(e)any multilateral development bank referred to in the second subparagraph of Article 117(1) and in Article 117(2) of Regulation (EU) No 575/2013 of the European Parliament and of the Council(1);(f)the European Financial Stability Facility or the European Stability Mechanism. | 4. |
| 4. | Settlement fail due to a lack of debt instruments issued or guaranteed by:(a)a sovereign issuer as defined in Article 4(1)(60) of Directive 2014/65/EU;(b)a third country sovereign issuer;(c)a local government authority;(d)a central bank;(e)any multilateral development bank referred to in the second subparagraph of Article 117(1) and in Article 117(2) of Regulation (EU) No 575/2013 of the European Parliament and of the Council(1);(f)the European Financial Stability Facility or the European Stability Mechanism. |
| (a) | a sovereign issuer as defined in Article 4(1)(60) of Directive 2014/65/EU; |
| (b) | a third country sovereign issuer; |
| (c) | a local government authority; |
| (d) | a central bank; |
| (e) | any multilateral development bank referred to in the second subparagraph of Article 117(1) and in Article 117(2) of Regulation (EU) No 575/2013 of the European Parliament and of the Council(1); |
| (f) | the European Financial Stability Facility or the European Stability Mechanism. |
| 5.Settlement fail due to a lack of debt instruments other than those referred to in points 4 and 6 | 5. |
| 5. | Settlement fail due to a lack of debt instruments other than those referred to in points 4 and 6 |
| 6.Settlement fail due to a lack of debt instruments traded on SME growth markets | 6. |
| 6. | Settlement fail due to a lack of debt instruments traded on SME growth markets |
| 7.Settlement fail due to a lack of all other financial instruments not covered in points 1 to 6 | 7. |
| 7. | Settlement fail due to a lack of all other financial instruments not covered in points 1 to 6 |
| 8.Settlement fail due to a lack of cash | 8. |
| 8. | Settlement fail due to a lack of cash |
Table 2 in anx_1
| 1. | Settlement fail due to a lack of shares that have a liquid market within the meaning of point (b) of Article 2(1)(17) of Regulation (EU) No 600/2014, excluding shares referred to in point 3 |
|---|
Table 3 in anx_1
| 2. | Settlement fail due to a lack of shares that do not have a liquid market within the meaning of point (b) of Article 2(1)(17) of Regulation (EU) No 600/2014, excluding shares referred to in point 3 |
|---|
Table 4 in anx_1
| 3. | Settlement fail due to a lack of financial instruments traded on SME growth markets, excluding debt instruments referred to in point 6 |
|---|
Table 5 in anx_1
| 4. | Settlement fail due to a lack of debt instruments issued or guaranteed by:(a)a sovereign issuer as defined in Article 4(1)(60) of Directive 2014/65/EU;(b)a third country sovereign issuer;(c)a local government authority;(d)a central bank;(e)any multilateral development bank referred to in the second subparagraph of Article 117(1) and in Article 117(2) of Regulation (EU) No 575/2013 of the European Parliament and of the Council(1);(f)the European Financial Stability Facility or the European Stability Mechanism. | (a) | a sovereign issuer as defined in Article 4(1)(60) of Directive 2014/65/EU; | (b) | a third country sovereign issuer; | (c) | a local government authority; | (d) | a central bank; | (e) | any multilateral development bank referred to in the second subparagraph of Article 117(1) and in Article 117(2) of Regulation (EU) No 575/2013 of the European Parliament and of the Council(1); | (f) | the European Financial Stability Facility or the European Stability Mechanism. |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| (a) | a sovereign issuer as defined in Article 4(1)(60) of Directive 2014/65/EU; | ||||||||||||
| (b) | a third country sovereign issuer; | ||||||||||||
| (c) | a local government authority; | ||||||||||||
| (d) | a central bank; | ||||||||||||
| (e) | any multilateral development bank referred to in the second subparagraph of Article 117(1) and in Article 117(2) of Regulation (EU) No 575/2013 of the European Parliament and of the Council(1); | ||||||||||||
| (f) | the European Financial Stability Facility or the European Stability Mechanism. |
Table 6 in anx_1
| (a) | a sovereign issuer as defined in Article 4(1)(60) of Directive 2014/65/EU; |
|---|
Table 7 in anx_1
| (b) | a third country sovereign issuer; |
|---|
Table 8 in anx_1
| (c) | a local government authority; |
|---|
Table 9 in anx_1
| (d) | a central bank; |
|---|
Table 10 in anx_1
| (e) | any multilateral development bank referred to in the second subparagraph of Article 117(1) and in Article 117(2) of Regulation (EU) No 575/2013 of the European Parliament and of the Council(1); |
|---|
Table 11 in anx_1
| (f) | the European Financial Stability Facility or the European Stability Mechanism. |
|---|
Table 12 in anx_1
| 5. | Settlement fail due to a lack of debt instruments other than those referred to in points 4 and 6 |
|---|
Table 13 in anx_1
| 6. | Settlement fail due to a lack of debt instruments traded on SME growth markets |
|---|
Table 14 in anx_1
| 7. | Settlement fail due to a lack of all other financial instruments not covered in points 1 to 6 |
|---|
Table 15 in anx_1
| 8. | Settlement fail due to a lack of cash |
|---|