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SCOPE, STRUCTURE, OWNERSHIP, CAPITAL, REGULATION AND AUDIT
The purpose of this section is to understand the ownership structure and
financial strength of your institution, as well as the level of regulatory
and operational supervision to which it is subject.
Scope, Structure, Ownership
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1
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Rule 17f-7, by reference to Rule 17f-4, requires that, for a depository to
be eligible to hold securities of U.S. registered investment companies (such
depositories hereinafter referred to as “Eligible Securities Depositories”),
the depository must be a “system for the central handling of securities where
all securities of any particular class or series of any issuer deposited
within the system are treated as fungible and may be transferred or pledged
by bookkeeping entry without physical delivery of the securities.”
In particular, are all securities of a particular class or series of any
issuer that are deposited in your institution treated as fungible, and can
they be transferred or pledged by bookkeeping entry without physical delivery
of the securities?
Yes
No - then answer 1a
Other - then answer 1a
1a. Please explain:
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2
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Rule 17f-7 also requires that an Eligible Securities Depository “acts as
or operates a system for the central handling of securities or equivalent
book-entries in the country where it is incorporated,” or “acts as or
operates a transnational system for the central handling of securities or
equivalent book-entries.”
Does your institution: (Choose all that apply.)
Act as or operate a system
for the central handling of securities or equivalent book-entries in the
country where it is incorporated? - then
answer 2b
Act as or operate a transnational
system for the central handling of securities or equivalent
book-entries? - then answer 2b
Act in another capacity with
respect to the handling of securities or equivalent book-entries? - then answer 2a
Not applicable - then answer 2a
Other - then answer 2a
2a. Please explain:
2b. Please specify the types of securities for which you act as or
operate a system for the central handling of securities or equivalent
book-entries:
ALL SECURITIES ISSUED ON THE TERRITORY OF SERBIA:
SHARES, BONDS, TREASURY BILLS
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3
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What type of legal entity is the institution? (Choose all that apply.)
Public Company
Private Company
Central Bank (or part thereof)
Stock Exchange (or part thereof)
Other - then answer 3a
3a. If other, please explain:
CLOSELY HELD JOINT STOCK COMPANY
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4
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Is the institution operated as a "for profit" or a "not for
profit" organization?
For profit
Not for
profit
Other - then answer 4a
4a. If other, please explain:
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5
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Please provide the names of the owners and their ownership interest
percentages.
100% OWNERSHIP OF THE REPUBLIC OF SERBIA
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6
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What is the date of establishment of the depository? (DD/MM/YY)
10.DECEMBER 2003. AS AN INDEPENDENT LEGAL ENTITY, JOINT-STOCK COMPANY
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7
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What is the date that the depository's operations began? (DD/MM/YY)
NOVEMBER 19, 2001 AS AN INSTITUTIONAL PART OF THE NATIONAL BANK OF YUGOSLAVIA
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8
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Under what regulation or statute is the depository established and
governed?
LAW ON SECURITIES AND OTHER FINANCIAL MARKET INSTRUMENTS
STATUTE OF THE CSD
- then answer 8a
8a. Is the regulation or statute electronically available?
Yes - then answer 8b
No
8b. If regulation or statute is electronically available, please
supply web address or upload document.
8c. If more than one link or document, please supply additional
information here:
8d. If more than one link or document, please supply additional
information here:
8e. If more than one link or document, please supply additional
information here:
8f. If more than one link or document, please supply additional
information here:
8g. Please provide details of the structure and composition of your
Board together with their industry experience and responsibilities in
governing the depository.
What are the qualifications to become a board member?
PROFESSIONAL EXPERIENCE
8h. What are the election procedures?
MEMBERS ARE ELECTED BY THE GOVERNMENT OF SERBIA,MEMBERS OF THE BOARD ELECT
THE PRESIDENT OF THE BOARD
8i. What is maximum length of time they can serve as a board
member?
4 YEARS, THERE IS POSSIBILITY OF REELECTION
8j. Who is responsible for regulating the board members?
THE PRESIDENT OF THE BOARD
8k. What is the extent of their voting powers?
DECISIONS ARE MADE BY MAJORITY OF VOTES
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9
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Rule 17f-7 requires that an Eligible Securities Depository “is regulated
by a foreign financial regulatory authority as defined under section 2(a)(50)
of the Act”, with section 2(a)(50) establishing that “’foreign financial
regulatory authority’ means any (A) foreign securities authority, (B) other
governmental body or foreign equivalent of a self-regulatory organization
empowered by a foreign government to administer or enforce its laws relating
to the regulation of fiduciaries, trusts, commercial lending, insurance,
trading in contracts of sale of a commodity for future delivery, or other
instruments traded on or subject to the rules of a contract market, board of
trade or foreign equivalent, or other financial activities, or (C) membership
organization a function of which is to regulate the participation of its
members in activities listed above.”
Who regulates the activities of the depository? (Choose all that apply.)
A governmental body or regulatory
organization empowered to administer or enforce laws related to securities
matters.
A governmental body or
self-regulatory organization empowered to administer or enforce laws related
to other financial activities.
A membership organization which
regulates the participation of its members in securities matters or other
financial activities.
Other. - then answer 9a
9a. Please explain:
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10
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Please provide the name of the regulatory authority(ies) identified in
question 9:
SEC - SECURITIES COMMISSION
NBS - FOR PAYMENTS
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11
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Rule 17f-7 requires that an Eligible Securities Depository “is subject to
periodic examination by regulatory authorities or independent accountants.”
Is the depository subject to periodic examination by: (Choose all that
apply.)
Regulatory authorities?
Independent accountants?
Other. - then answer 11a
11a. Please explain:
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12
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What enforcement actions are available to the regulatory authority(ies)
for breach of applicable statute or regulatory requirements? (Choose all that
apply.)
Name of Authority (1):
SECURITIES COMMISSION
- then answer 12a
12a.
Fines.
Restrictions on depository
activities.
Suspension of depository
activities.
Termination of depository
activities.
Other. - then answer 12b
12b. Please explain:
12c. Name of Authority (2):
NATIONAL BANK OF SERBIA
- then answer 12d
12d.
Fines.
Restrictions on depository
activities.
Suspension of depository
activities.
Termination of depository
activities.
Other. - then answer 12e
12e. Please explain:
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13
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Has there been any use of such enforcement actions in the last three
years?
Yes - then answer 13a
No
Other - then answer 13a
13a. If yes or other, please explain:
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Capital
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14
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Are annual financial statements publicly disclosed?
Yes - then answer 14a
No - then answer 14c
Other - then answer 14h
14a. If yes, the AGC requests a copy of the institution's annual
report. Is the annual report available electronically?
Yes - then answer 14b
No. (If No, please send a
copy of the annual report to the Washington office of Baker & McKenzie,
815 Connecticut Ave, NW, Washington, DC 20006, Attn: Robin Truesdale)
14b. If yes, please upload the document here or insert web link:
14f. If more than one document for 14b, please upload the
additional document here or insert web link:
14g. If more than one document for 14b, please upload the document
here or insert web link:
14c. If no, and annual report and/or financial statements are not
disclosed, please state your share capital, reserves, and retained earnings
(or equivalents as determined under local accounting standards).
Share Capital:
- then answer 14d
14d. Reserves:
- then answer 14e
14e. Retained Earnings:
14h. If other, please explain:
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Audit
With respect to the depository's financial audit
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15
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Do internal auditors perform a financial audit? (Choose all that apply.)
Yes - then answer 15a
No ›› take you to 16
Other - then answer 15g
15a. If Yes, which department in your depository handles the
financial audit?
- then answer 15b
15b. How frequently does the financial audit occur? (Choose one.)
Two or more times a year - then answer 15d
Annually - then answer 15d
Less than Annually - then answer 15c
Other. Please explain in
15c. - then answer 15c
15c. If less than annually or other, please explain:
15d. Are results of the financial audit publicly available?
Yes - then answer 15e
No - then answer 15e
15e. Please select the statement that most accurately characterizes
the results of the last financial audit: (Choose one.)
No material exceptions
found.
Minor exceptions found. - then answer 15f
Material exceptions found. - then answer 15f
Other - then answer 15f
15f. If minor, material or "other" exceptions were found,
what actions were taken? Please describe:
15g. If other, please explain:
15h. Please list the date of your last financial audit performed by
internal auditors and the period that the audit covered:
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16
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Do independent external auditors perform a financial audit? (Choose all
that apply.)
Yes - then answer 16a
No ›› take you to 17
Other - then answer 16h
16a. If yes, what is the name of the accountant/accounting firm
that handles the financial audit?
Deloitte & Touche
- then answer 16b
16b. How frequently does the financial audit occur? (Choose one.)
Two or more times a year - then answer 16d
Annually - then answer 16d
Less than Annually - then answer 16c
Other. Please explain in
16g. - then answer 16g
16c. If less than annually, please explain:
16d. Are results of the financial audit publicly available?
Yes - then answer 16e
No - then answer 16e
Other - then answer 16i
16e. Please select the statement that most accurately characterizes
the results of the last financial audit: (Choose one.)
No material
exceptions found.
Minor exceptions found. - then answer 16f
Material exceptions found. - then answer 16f
Other - then answer 16f
16f. If minor, material or "other" exceptions were found,
what actions were taken? Please describe:
16i. If other, please explain:
16g. If other, please explain:
16h. If other, please explain:
16j. Please list the date of your last financial audit performed by
independent external auditors and the period that the audit covered:
APRIL 19, 2007
FOR THE PERIOD FROM JANUARY UNTIL DECEMBER 2006
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17
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Do regulatory authorities perform a financial audit? (Choose all that
apply.)
Yes - then answer 17a
No ›› take you to 18
Other - then answer 17h
17a. If Yes, what is the name of the regulatory authority that
handles the financial audit?
- then answer 17b
17b. How frequently does the financial audit occur? (Choose one.)
Two or more times a year - then answer 17d
Annually - then answer 17d
Less than Annually - then answer 17c
Other. Please explain in
17g. - then answer 17g
17c. If less than annually, please explain:
17d. Are results of the financial audit publicly available?
Yes - then answer 17e
No - then answer 17e
17e. Please select the statement that most accurately characterizes
the results of the last financial audit: (Choose one.)
No material exceptions
found.
Minor exceptions found. - then answer 17f
Material exceptions found. - then answer 17f
Other - then answer 17f
17f. If minor, material or "other" exceptions were found,
what actions were taken? Please describe:
17g. If other, please explain:
17h. If other, please explain:
17i. Please list the date of your last financial audit performed by
regulatory authorities and the period that the audit covered:
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18
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Do any other auditors perform a financial audit? (Choose all that apply.)
Yes - then answer 18a
No ›› take you to 19
Other - then answer 18h
18a. If Yes, please explain and identify by name?
- then answer 18b
18b. How frequently does the financial audit occur? (Choose one.)
Two or more times a year - then answer 18d
Annually - then answer 18d
Less than Annually - then answer 18c
Other. Please explain in
18g. - then answer 18g
18c. If less than annually, please explain:
18d. Are results of the financial audit publicly available?
Yes - then answer 18e
No - then answer 18e
18e. Please select the statement that most accurately characterizes
the results of the last financial audit: (Choose one.)
No material exceptions
found.
Minor exceptions found. - then answer 18f
Material exceptions found. - then answer 18f
Other - then answer 18f
18f. If minor, material or "other" exceptions were found,
what actions were taken? Please describe:
18g. If other, please explain:
18h. If other, please explain:
18i. Please list the date of your last financial audit performed by
any other auditors and the period that the audit covered:
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With respect to the depository's operational audit
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19
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Do internal auditors perform an operational audit? (Choose all that
apply.)
Yes - then answer 19a
No ›› take you to 20
Other - then answer 19g
19a. If Yes, which department in your depository handles the
operational audit?
DEPARTMENT FOR SUPERVISION AND INTERNAL AUDITING
- then answer 19b
19b. How frequently does the operational audit occur? (Choose one.)
Two or more
times a year
Annually
Less than Annually - then answer 19c
Other. Please explain in
19c. - then answer 19c
19c. If less than annually or other, please explain:
19d. Are results of the operational audit publicly available?
Yes - then answer 19e
No - then answer 19e
19e. Please select the statement that most accurately characterizes
the results of the last operational audit: (Choose one.)
No material
exceptions found.
Minor exceptions found. - then answer 19f
Material exceptions found. - then answer 19f
Other - then answer 19f
19f. If minor, material or "other" exceptions were found,
what actions were taken? Please describe:
19g. If other, please explain:
19h. Please list the date of your last operational audit performed
by internal auditors and the period that the audit covered:
MARCH 25,2007
SEPTEMBER 2006- FEBRUARY 2007
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20
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Do independent external accountants perform an operational audit? (Choose
all that apply.)
Yes - then answer 20a
No ›› take you to 21
Other - then answer 20h
20a. If Yes, what is the name of the accountant/accounting firm
that handles the operational audit?
- then answer 20b
20b. How frequently does the operational audit occur? (Choose one.)
Two or more times a year - then answer 20d
Annually - then answer 20d
Less than Annually - then answer 20c
Other. Please explain in
20g. - then answer 20g
20c. If less than annually, please explain:
20d. Are results of the operational audit publicly available?
Yes - then answer 20e
No - then answer 20e
20e. Please select the statement that most accurately characterizes
the results of the last operational audit: (Choose one.)
No material exceptions
found.
Minor exceptions found. - then answer 20f
Material exceptions found. - then answer 20f
Other - then answer 20f
20f. If minor, material or "other" exceptions were found,
what actions were taken? Please describe:
20g. If other, please explain:
20h. If other, please explain:
20i. Please list the date of your last operational audit performed
by independent external accountants and the period that the audit covered:
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21
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Do regulatory authorities perform an operational audit? (Choose all that
apply.)
Yes - then answer 21a
No ›› take you to 22
Other - then answer 21h
21a. If Yes, what is the name of the regulatory authority that
handles the operational audit?
- then answer 21b
21b. How frequently does the operational audit occur? (Choose one.)
Two or more times a year - then answer 21d
Annually - then answer 21d
Less than Annually - then answer 21c
Other. Please explain in
21g. - then answer 21g
21c. If less than annually, please explain:
21d. Are results of the operational audit publicly available?
Yes - then answer 21e
No - then answer 21e
21e. Please select the statement that most accurately characterizes
the results of the last operational audit: (Choose one.)
No material exceptions
found.
Minor exceptions found. - then answer 21f
Material exceptions found. - then answer 21f
Other - then answer 21f
21f. If minor, material or "other" exceptions were found,
what actions were taken? Please describe:
21g. If other, please explain:
21h. If other, please explain:
21i. Please list the date of your last operational audit performed
by regulatory authorities and the period that the audit covered:
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22
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Do any other auditors perform an operational audit? (Choose all that
apply.)
Yes - then answer 22a
No ›› take you to 23
Other - then answer 22h
22a. If Yes, please explain and identify by name:
- then answer 22b
22b. How frequently does the operational audit occur? (Choose one.)
Two or more times a year - then answer 22d
Annually - then answer 22d
Less than Annually - then answer 22c
Other. Please explain in
22g. - then answer 22g
22c. If less than annually, please explain:
22d. Are results of the operational audit publicly available?
Yes - then answer 22e
No - then answer 22e
22e. Please select the statement that most accurately characterizes
the results of the last operational audit: (Choose one.)
No material exceptions
found.
Minor exceptions found. - then answer 22f
Material exceptions found. - then answer 22f
Other - then answer 22f
22f. If minor, material or "other" exceptions were found,
what actions were taken? Please describe:
22g. If other, please explain:
22h. If other, please explain:
22i. Please list the date of your last operational audit performed
by any other auditors and the period that the audit covered:
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PARTICIPANTS AND PARTICIPATION
The purpose of the section is to understand issues relating to participation
in the depository, including eligibility requirements, conditions of
participation, and supervision of participants.
Participant Eligibility Requirements
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23
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What types of entities are eligible to become participants and how many of
each type are there currently? (Choose all that apply.)
Banks - then answer 23a
Brokers - then answer 23b
Individuals - then answer 23c
Foreign
Institutions - then answer 23d
Other entities. - then answer 23e
Not applicable
23a. How many Bank participants are there currently?
33
- then answer 23g
23g. Please select the features included in the eligibility
requirements for Banks. (Choose all that apply.)
Financial Thresholds - then answer 23h
Regulatory
Oversight - then answer 23h
Market Experience - then answer 23h
Other. Please explain in
23q. - then answer 23q
23h. Where can a description of the specific eligibility requirements
for Bank participants be found?
www.nbs.yu
WWW.CRHOV.CO.YU
23q. Please explain:
payment of the guarantee fund (EUR 40.000)
DEPOSIT OF PROMISSORY NOTES (EUR 60.000)
23b. How many Broker participants are there currently?
69
- then answer 23i
23i. Please select the features included in the eligibility
requirements for Brokers. (Choose all that apply.)
Financial Thresholds - then answer 23j
Regulatory
Oversight - then answer 23j
Market Experience - then answer 23j
Other. Please explain in
23r. - then answer 23r
23j. Where can a description of the specific eligibility
requirements for Broker participants be found?
www.sec.sv.gov.yu
WWW.CRHOV.CO.YU
23r. If other, please explain:
payment of the guarantee fund
DEPOSIT OF PROMISSORY NOTES
23c. How many Individual participants are there currently?
- then answer 23k
23k. Please select the features included in the eligibility
requirements for Individual participants. (Choose all that apply.)
Financial Thresholds - then answer 23l
Regulatory Oversight - then answer 23l
Market Experience - then answer 23l
Other. Please explain in
23t. - then answer 23t
23l. Where can a description of the specific eligibility
requirements for Individual participants be found?
23t. If other, please explain:
23d. How many Foreign Institution participants are there currently?
0
- then answer 23m
23m. Please select the features included in the eligibility
requirements for Foreign Institution participants. (Choose all that apply.)
Financial Thresholds - then answer 23n
Regulatory Oversight - then answer 23n
Market Experience - then answer 23n
Other. Please explain in
23u. - then answer 23u
23n. Where can a description of the specific eligibility
requirements for Foreign Institution participants be found?
23u. If other, please explain:
it has to be an approved CSD in its home country or an international CSD
23e. If you have selected "Other entities" above, please
explain:
Republic of Serbia, National bank of Serbia
- then answer 23f
23f. Indicate how many "Other entities" are currently
participants?
2
- then answer 23o
23o. Please select the features included in the eligibility
requirements for the participants referred to above as "Other
entities". (Choose all that apply.)
Financial Threshold - then answer 23p
Regulatory Oversight - then answer 23p
Market Experience - then answer 23p
Other. Please explain in
23s. - then answer 23s
23p. Where can a description of the specific eligibility
requirements for participants describe above as "Other entities" be
found?
23s. If other, please explain:
just to sign the Contract with the CSD
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24
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Are participants required to contribute capital to the depository that
would result in ownership of the depository?
Yes - then answer 24a
No
Not applicable
Other - then answer 24b
24a. If yes, what fixed amount is required or what formula is used
to determine the appropriate contribution level?
24b. If other, please explain:
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25
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Are prospective participants subject to an initial review and approval
process regarding compliance with eligibility requirements?
Yes
No
Not applicable
Other - then answer 25a
25a. If other, please explain:
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Conditions of participation
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26
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What governs the relationship between the depository and the participants?
(Choose all that apply.)
Relevant law and regulation
Standard participation
contract
Established terms and
conditions of participation
By-laws of the depository
Rules of the depository
Other - then answer 26a
Not applicable
26a. Please explain:
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27
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Rule 17f-7 requires that an Eligible Securities Depository “holds assets
for the custodian that participates in the system on behalf of the Fund under
safekeeping conditions no less favorable that the conditions that apply to
other participants.”
Please confirm that assets of foreign investors held by custodians as
participants in the depository are held under safekeeping conditions no less
favorable than the conditions that apply to other participants.
Yes
No - then answer 27a
Not applicable - then answer 27a
Other - then answer 27a
27a. If no, other or not applicable, please explain:
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28
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How does the depository notify participants of material changes to the
conditions of participation? (Choose all that apply.)
By e-mail
By telephone
By public announcement
By press release
Other - then answer 28a
Not applicable
28a. Please explain:
WEB site
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Governance of participants
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29
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Who enforces compliance with the depository’s conditions of participation?
(Choose all that apply.)
The depository
The exchange
The depository's regulator
Other - then answer 29a
Not applicable
29a. Please explain:
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30
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What enforcement actions are available to the enforcement authority?
(Choose all that apply.)
Fines
Restrictions on participation
Suspension of participation
Termination of
participation
Other - then answer 30a
Not applicable
30a. Please explain:
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31
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Has there been any such enforcement actions in the last three years?
Yes - then answer 31a
No
Not applicable
Other - then answer 31b
31a. If yes, please explain, including information relative to any
suspensions of depository participants:
some fines were collected for untimely trade confirmations
31b. If other, please explain:
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DEPOSITORY FUNCTIONALITY AND SERVICES; USE OF AGENTS
Certain functionalities and services reduce risk to an investor if provided
in an efficient manner. The purpose of this section is to identify those
functionalities that may potentially be offered by depositories and clearing
systems around the world, and ascertain whether they are offered by your institution.
General
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32
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For which of the following security types do you serve as a depository or
clearing system? (Choose all that apply.)
Government
Securities - then answer 32b
Equities - then answer 32c
Corporate Bonds - then answer 32d
Corporate Money Market
Instruments - then answer 32e
Others - then answer 32a
Not applicable
32a. Please name the other security types:
- then answer 32f
32f. Please name other depositories and clearing systems that
handle the same securities listed in "Others" in your market:
32b. Please name other depositories and clearing systems that
handle Government Securities in your market:
NO OTHER
32c. Please name other depositories and clearing systems that
handle Equities in your market:
NO OTHER
32d. Please name other depositories and clearing systems that
handle Corporate Bonds in your market:
NO OTHER
32e. Please name other depositories and clearing systems that
handle Corporate Money Market Instruments in your market:
NO OTHER
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Government Securities Settlements
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33
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Is the use of the depository in your market compulsory by law or
compulsory by market practice for the settlement of government
securities?
(Please note that responses to questions 33 through 42 should be consistent
with questions 73 and 74.)
By law - then answer 33a
By market practice - then answer 33a
Neither/other - then answer 33b
Not applicable
33a. What is the percentage of the total market of government
securities in your jurisdiction (either volume or value) settled within your
institution, exclusive of your links with third parties?
100% which is around 520 Million EUR in total.
33b. If neither/other, please explain:
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Government Securities Safekeeping
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34
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Is the use of the depository in your market compulsory by law or
compulsory by market practice for the safekeeping of government
securities? (Choose all that apply.)
(Please note that responses to questions 33 through 42 should be consistent
with questions 73 and 74.)
By law - then answer 34a
By market practice - then answer 34a
Neither/other - then answer 34b
Not applicable
34a. What is the percentage of the total market of government
securities in your jurisdiction (either volume or value) held in safekeeping
within your institution?
100% which is around 2,6 billion EUR in total
34b. If neither/other, please explain:
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Equities Settlements
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35
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Is the use of the depository in your market compulsory by law or
compulsory by market practice for the settlement of equities? (Choose
all that apply.)
(Please note that responses to questions 33 through 42 should be consistent
with questions 73 and 74.)
By law - then answer 35a
By market practice - then answer 35a
Neither/other - then answer 35b
Not applicable
35a. What is the percentage of the total market of equities in your
jurisdiction (either volume or value) settled within your institution,
exclusive of your links with third parties?
100% which is around 1,9 billion EUR in total
35b. If neither/other, please explain:
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Equities Safekeeping
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36
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Is the use of the depository in your market compulsory by law or
compulsory by market practice for the safekeeping of equities? (Choose
all that apply.)
(Please note that responses to questions 33 through 42 should be consistent
with questions 73 and 74.)
By law - then answer 36a
By market practice - then answer 36a
Neither/other - then answer 36b
Not applicable
36a. What is the percentage of the total market of equities in your
jurisdiction (either volume or value) held in safekeeping within your
institution?
100% which is around 9,3 billion EUR in total
36b. If neither/other, please explain:
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Corporate Bonds Settlements
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37
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Is the use of the depository in your market compulsory by law or
compulsory by market practice for the settlement of corporate bonds?
(Choose all that apply.)
(Please note that responses to questions 33 through 42 should be consistent
with questions 73 and 74.)
By law - then answer 37a
By market practice - then answer 37a
Neither/other - then answer 37b
Not applicable
37a. What is the percentage of the total market of corporate bonds
in your jurisdiction (either volume or value) settled within your
institution, exclusive of your links with third parties?
100% which is around 130.000 EUR in total
37b. If neither/other, please explain:
|
|
Corporate Bonds Safekeeping
|
|
38
|
Is the use of the depository in your market compulsory by law or
compulsory by market practice for the safekeeping of corporate bonds?
(Choose all that apply.)
(Please note that responses to questions 33 through 42 should be consistent
with questions 73 and 74.)
By law - then answer 38a
By market practice - then answer 38a
Neither/other - then answer 38b
Not applicable
38a. What is the percentage of the total market of corporate bonds
in your jurisdiction (either volume or value) held in safekeeping within your
institution?
100% which is around 2,8 million EUR in total
38b. If neither/other, please explain:
|
|
Corporate Money Market Instruments Settlements
|
|
39
|
Is the use of the depository in your market compulsory by law or
compulsory by market practice for the settlement of corporate money
market instruments? (Choose all that apply.)
(Please note that responses to questions 33 through 42 should be consistent
with questions 73 and 74.)
By law - then answer 39a
By market practice - then answer 39a
Neither/other - then answer 39b
Not applicable
39a. What is the percentage of the total market of corporate money
market instruments in your jurisdiction (either volume or value) settled
within your institution, exclusive of your links with third parties?
100% which is around 34,9 billion EUR in total
39b. If neither/other, please explain:
|
|
Corporate Money Market Instruments Safekeeping
|
|
40
|
Is the use of the depository in your market compulsory by law or
compulsory by market practice for the safekeeping of corporate money
market instruments? (Choose all that apply.)
(Please note that responses to questions 33 through 42 should be consistent
with questions 73 and 74.)
By law - then answer 40a
By market practice - then answer 40a
Neither/other - then answer 40b
Not applicable
40a. What is the percentage of the total market of corporate money
market instruments in your jurisdiction (either volume or value) held in
safekeeping within your institution?
100 %, which is 7,9 billion EUR in total
40b. If neither/other, please explain:
|
|
Other Eligible Securities Settlements
|
|
41
|
Is the use of the depository in your market compulsory by law or
compulsory by market practice for the settlement of other eligible
securities? (Choose all that apply.)
(Please note that responses to questions 33 through 42 should be consistent
with questions 73 and 74.)
By law - then answer 41a
By market practice - then answer 41a
Neither/other - then answer 41c
Not applicable
41a. What is the percentage of the total market of other eligible
securities in your jurisdiction (either volume or value) settled within your
institution, exclusive of your links with third parties?
- then answer 41b
41b. Please provide description of the other securities:
41c. If neither/other, please explain:
|
|
Other Eligible Securities Safekeeping
|
|
42
|
Is the use of the depository in your market compulsory by law or
compulsory by market practice for the safekeeping of other eligible
securities? (Choose all that apply.)
(Please note that responses to questions 33 through 42 should be consistent
with questions 73 and 74.)
By law - then answer 42a
By market practice - then answer 42a
Neither/other - then answer 42c
Not applicable
42a. What is the percentage of the total market of other eligible
securities in your jurisdiction (either volume or value) held in safekeeping
within your institution?
- then answer 42b
42b. Please provide description of the other securities:
42c. If neither/other, please explain:
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|
43
|
Are there any activities performed by a third party on behalf of the
depository for the depository participants (e.g., vaulting of physical
securities, registration, entitlement processing, etc.)?
Yes - then answer 43a
No
Not applicable
Other - then answer 43g
43a. If third parties are employed, please indicate which services
they supply:
- then answer 43b
43b. If third parties are employed, does the depository assume
liability for losses incurred by participants as a result of the
actions/inactions of the third parties?
Yes - then answer 43c
No
43c. If you acknowledge responsibility, please indicate whether
your responsibility is assumed (Choose all that apply.)
regardless of whether such loss
was caused by any action or inaction of the agent; - then answer 43d
if such loss was caused by the
agent's action or inaction and such action or inaction was deemed to be
negligence on the part of the agent; -
then answer 43d
if such loss was caused by the agent's
action or inaction and such action or inaction was deemed to be gross
negligence on the part of the agent; -
then answer 43d
if the loss was caused by the
willful default or other willful conduct on the part of the
agent; - then answer 43d
Other - then answer 43h
43d. If you acknowledge responsibility for agents, your
responsibility is assumed for losses (Choose all that apply.)
without limit.
which are not consequential
losses.
subject to a monetary limit not
based on insurance limits. - then answer
43e
subject to a monetary limit based
on insurance limits. - then answer 43f
Other - then answer 43i
43e. Please specify limit:
43f. Please specify limit:
43i. If other, please explain:
43h. If other, please explain:
43g. If other, please explain:
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|
44
|
Has any participant suffered any losses in the past three years due to the
depository’s performance?
Yes - then answer 44a
No
Not applicable
Other - then answer 44m
44a. If yes, please select all of the following in which loss has
occurred. You will be prompted to enter the number of instances and total
loss in USD thereafter. (Choose all that apply.)
Corporate Action - then answer 44b
Settlement Process -
Securities - then answer 44c
Settlement Process -
Cash - then answer 44d
System Outage - then answer 44e
Other - then answer 44f
44b. Corporate Action. Please specify number of instances:
- then answer 44g
44g. Corporate Action. Please specify total loss in USD.
44c. Settlement Process - Securities. Please specify number of
instances:
- then answer 44h
44h. Settlement Process - Securities. Please specify total loss in
USD:
44d. Settlement Process - Cash. Please specify number of instances:
- then answer 44i
44i. Settlement Process - Cash. Please specify total loss in USD:
44e. System Outage. Please specify number of instances:
- then answer 44j
44j. System Outage. Please specify total loss in USD:
44f. If Other, please explain:
- then answer 44k
44k. For Other, please specify number of instances:
- then answer 44l
44l. For Other, please specify total loss in USD:
44m. If other, please explain:
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|
Other Services
|
|
45
|
Who accepts cash deposits for depository transactions? (Choose all that
apply.)
Depository
Central Bank
Banks appointed by
depository. - then answer 45a
Others - then answer 45b
Not applicable
45a. Please name banks:
45b. If others, please explain:
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|
46
|
Who processes cash clearing for depository transactions? (Choose all that
apply.)
Depository
Central Bank
Banks appointed by
depository. - then answer 46a
Others - then answer 46b
Not applicable
46a. Please name banks appointed by depository:
46b. If others, please explain:
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|
47
|
Who controls the movement of cash for cash deposits? (Choose all that
apply.)
Depository
Central Bank
Banks appointed by
depository. - then answer 47a
Others - then answer 47b
Not applicable
47a. Please name banks appointed by depository:
47b. If others, please explain:
|
|
48
|
Who controls the movement of cash for cash clearing? (Choose all that
apply.)
Depository
Central Bank
Banks appointed by
depository. - then answer 48a
Others - then answer 48b
Not applicable
48a. Please name banks appointed by depository:
48b. If others, please explain:
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|
49
|
Please indicate services you provide. (Choose all that apply.)
Information in advance on
corporate (annual or special) meetings in order that owners can vote.
Tax assistance where foreign
holders may be entitled to tax relief at source or through a claim.
In order to avoid fails,
an automatic securities lending facility - if requested - is provided
for: - then answer 49a
Collateral handling in
support of activities including securities lending, overdraft coverage, cash
management, repurchase agreements, etc. Please provide details - then answer 49c
Same day turnaround
settlements.
Information on
distribution of new issues (IPO, Privatization).
Other. - then answer 49d
Not applicable
49a. Automatic securities lending facility is provided for: (Choose
all that apply.)
Brokers
Banks
Other Financial Institutions
Other - then answer 49b
49b. If Other, please explain:
49c. Collateral Handling: Please provide details:
CSD AND CH REGISTERS COLLATERAL RIGHTS ON PLEDGE ACCOUNTS
49d. If Other services, please explain:
Central Counter Party services for the transactions made on the stock
exchange
|
|
50
|
What procedures are in place for the collection of corporate action
entitlements? (Choose all that apply.)
Credited to the securities account
on the day indicated below regardless of whether actually collected by the
depository on the scheduled date - then
answer 50a
Credited to the securities
account upon actual receipt by the depository.
Corporate action entitlements are
handled by an entity separate from the depository. - then answer 50c
Not applicable.
Other. Please explain in
50d. - then answer 50d
50a. Credited to the securities account: (Choose all that apply.)
On pay date.
On pay date +1.
On pay date +2.
Other. - then answer 50b
50b. If other, please explain:
50c. Name of entity:
50d. If other, please explain:
|
|
51
|
What is the average percentage of entitlements that have actually been
collected by the depository when the credits are made to the participant
accounts?
100%
|
|
52
|
What procedures are in place for the collection of interest and dividends?
(Choose all that apply.)
Credited to the cash account on
the day indicated below regardless of whether actually collected by the
depository on the scheduled date - then
answer 52a
Credited to the cash
account upon actual receipt by the depository.
Income and dividend collection is
handled by an entity separate from the depository. - then answer 52c
Not applicable.
Other. Please explain in
52d. - then answer 52d
52a. Credited to the cash account: (Choose all that apply.)
On pay date.
On pay date +1.
On pay date +2.
Other. - then answer 52b
52b. If other, please explain:
52c. Name of entity:
52d. If other, please explain:
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|
53
|
What is the average percentage of income receipts which have actually been
collected by the depository from issuers or paying agents when the credits
are made to the participant accounts?
N/A
|
|
Linkages with Other Central Securities Depositories (CSD) or International
Central Securities Depositories (ICSD)
|
|
54
|
Please identify the existence and scope of electronic processing linkages
with foreign depositories or settlement systems:
Do you have any electronic processing linkages with foreign depositories or
settlement systems?
Yes
No ›› take you to 63
Other. Please explain in
54a. - then answer 54a and ›› take you to 63
Not applicable ›› take you to 63
54a. If other, please explain:
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|
55
|
If yes, identify entity, name of CSD or ICSD with which linkage has been
established (if more than one, you will be prompted to enter their name at
the end of this series of questions):
- then answer 55a
55a. Is the linkage Unilateral or Bilateral? (For an explanation of
unilateral linkage and bilateral linkage, click on the "Help"
button on the tool bar on the right side of this page.) (Choose all that
apply.)
Unilateral - then answer 55b
Bilateral - then answer 55b
Not applicable
Other - then answer 55l
55b. Does an intermediary provide interface to depository?
Yes - then answer 55c
No - then answer 55d
55c. If yes, name intermediary:
55d. Is cross listing on the other exchange mandatory for usage of depository
linkages?
Yes - then answer 55e
No - then answer 55e
55e. Is Delivery-vs.-payment settlement possible?
Yes
No
Other. Please explain in
55j. - then answer 55j
55f. Is Free-of-payment settlements required?
Yes
No
Other. Please explain in
55k. - then answer 55k
55k. If other, please explain:
55g. Timing of transfers: How are they effected? (Choose all that
apply.)
Batch mode
Real time
Not applicable
Other - then answer 55m
55m. If other, please explain:
55h. What is the percentage of all trades settled at your
institution with this CSD or ICSD link?
55i. Do you have any additional electronic processing linkages with
foreign depositories or settlement systems?
Yes. If so please proceed to
next question.
No ›› take you to 60
Other - then answer 55n
55n. If other, please explain:
55j. If other, please explain:
55l. If other, please explain:
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|
56
|
If yes, identify entity, name of CSD or ICSD with which linkage has been
established (if more than one, you will be prompted to enter their name at
the end of this series of questions):
- then answer 56a
56a. Is the linkage Unilateral or Bilateral? (For an explanation of
unilateral linkage and bilateral linkage, click on the "Help"
button on the tool bar on the right side of this page.) (Choose all that
apply.)
Unilateral - then answer 56b
Bilateral - then answer 56b
Not applicable
Other - then answer 56l
56b. Does an intermediary provide interface to depository?
Yes - then answer 56c
No - then answer 56d
56c. If yes, name intermediary:
56d. Is cross listing on the other exchange mandatory for usage of
depository linkages?
Yes - then answer 56e
No - then answer 56e
56e. Is Delivery-vs.-payment settlement possible?
Yes
No
Other. Please explain in
56j. - then answer 56j
56f. Is Free-of-payment settlements required?
Yes
No
Other. Please explain in
56k. - then answer 56k
56k. If other, please explain:
56g. Timing of transfers: How are they effected? (Choose all that
apply.)
Batch mode
Real time
Not applicable
Other - then answer 56m
56m. If other, please explain:
56h. What is the percentage of all trades settled at your
institution with this CSD or ICSD link?
56i. Do you have any additional electronic processing linkages with
foreign depositories or settlement systems?
Yes. If so please proceed to
next question.
No ›› take you to 60
Other - then answer 56n
56n. If Other, please explain:
56j. If other, please explain:
56l. If other, please explain:
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|
57
|
If yes, identify entity, name of CSD or ICSD with which linkage has been
established (if more than one, you will be prompted to enter their name at
the end of this series of questions):
- then answer 57a
57a. Is the linkage Unilateral or Bilateral? (For an explanation of
unilateral linkage and bilateral linkage, click on the "Help"
button on the tool bar on the right side of this page.) (Choose all that
apply.)
Unilateral - then answer 57b
Bilateral - then answer 57b
Not applicable
Other - then answer 57l
57b. Does an intermediary provide interface to depository?
Yes - then answer 57c
No - then answer 57d
Other - then answer 57n
57c. If yes, name intermediary:
57d. Is cross listing on the other exchange mandatory for usage of
depository linkages?
Yes - then answer 57e
No - then answer 57e
Other - then answer 57o
57e. Is Delivery-vs.-payment settlement possible?
Yes
No
Other. Please explain in
57j. - then answer 57j
57f. Is Free-of-payment settlements required?
Yes
No
Other. Please explain in
57k. - then answer 57k
57k. If other, please explain:
57g. Timing of transfers: How are they effected? (Choose all that
apply.)
Batch mode
Real time
Not applicable
Other - then answer 57m
57m. If other, please explain:
57h. What is the percentage of all trades settled at your
institution with this CSD or ICSD link?
57i. Do you have any additional electronic processing linkages with
foreign depositories or settlement systems?
Yes. If so please proceed to
next question.
No ›› take you to 60
Other - then answer 57p
57p. If other, please explain:
57j. If other, please explain:
57o. If other, please explain:
57n. If Other, please explain:
57l. If other, please explain:
|
|
58
|
If yes, identify entity, name of CSD or ICSD with which linkage has been
established (if more than one, you will be prompted to enter their name at
the end of this series of questions):
- then answer 58a
58a. Is the linkage Unilateral or Bilateral? (For an explanation of
unilateral linkage and bilateral linkage, click on the "Help"
button on the tool bar on the right side of this page.) (Choose all that
apply.)
Unilateral - then answer 58b
Bilateral - then answer 58b
Not applicable
Other - then answer 58l
58b. Does an intermediary provide interface to depository?
Yes - then answer 58c
No - then answer 58d
Other - then answer 58n
58c. If yes, name intermediary:
58d. Is cross listing on the other exchange mandatory for usage of
depository linkages?
Yes - then answer 58e
No - then answer 58e
Other - then answer 58o
58e. Is Delivery-vs.-payment settlement possible?
Yes
No
Other. Please explain in
58j. - then answer 58j
58f. Is Free-of-payment settlements required?
Yes
No
Other. Please explain in
58k. - then answer 58k
58k. If other, please explain:
58g. Timing of transfers: How are they effected? (Choose all that
apply.)
Batch mode
Real time
Not applicable
Other - then answer 58m
58m. If other, please explain:
58h. What is the percentage of all trades settled at your
institution with this CSD or ICSD link?
58i. Do you have any additional electronic processing linkages with
foreign depositories or settlement systems?
Yes. If so please proceed to
next question.
No ›› take you to 60
Other - then answer 58p
58p. If other, please explain:
58j. If other, please explain:
58o. If other, please explain:
58n. If other, please explain:
58l. If other, please explain:
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|
59
|
If yes, identify entity, name of CSD or ICSD with which linkage has been
established (if more than one, you will be prompted to enter their name at
the end of this series of questions):
- then answer 59a
59a. Is the linkage Unilateral or Bilateral? (For an explanation of
unilateral linkage and bilateral linkage, click on the "Help"
button on the tool bar on the right side of this page.) (Choose all that
apply.)
Unilateral - then answer 59b
Bilateral - then answer 59b
Not applicable
Other - then answer 59m
59b. Does an intermediary provide interface to depository?
Yes - then answer 59c
No - then answer 59d
Other - then answer 59o
59c. If yes, name intermediary:
59d. Is cross listing on the other exchange mandatory for usage of
depository linkages?
Yes - then answer 59e
No - then answer 59e
Other - then answer 59p
59e. Is Delivery-vs.-payment settlement possible?
Yes
No
Other. Please explain in
59j. - then answer 59j
59f. Is Free-of-payment settlements required?
Yes
No
Other. Please explain in
59k. - then answer 59k
59k. If other, please explain:
59g. Timing of transfers: How are they effected? (Choose all that
apply.)
Batch mode
Real time
Not applicable
Other - then answer 59n
59n. If other, please explain:
59h. What is the percentage of all trades settled at your
institution with this CSD or ICSD link?
59i. Do you have any additional electronic processing linkages with
foreign depositories or settlement systems?
Yes. If so please proceed to
next question. - then answer 59l
No ›› take you to 60
Other - then answer 59q
59l. If yes, please prepare and upload a document with the
additional information here:
59q. If other, please explain:
59j. If other, please explain:
59p. If other, please explain:
59o. If other, please explain:
59m. If other, please explain:
|
|
60
|
What governs the relationship in cross-system settlements? (Choose all
that apply.)
Negotiated terms and conditions of
participation between the depositories
By-laws of each depository
Standard participation contracts
with users of cross-system services
Laws of the jurisdiction where
settlement occurs
Other - then answer 60a
60a. Please explain:
|
|
61
|
Are procedures and controls (firewalls) in place to avoid systemic
collapse or contamination if one of the linked entities should experience
business interruptions for whatever reason?
Yes - then answer 61a
No - then answer 61a
Other - then answer 61a
Not applicable
61a. Please explain:
|
|
62
|
Has a business interruption recovery plan been developed in the event the
linkages should become inoperable for any reason?
Yes
No
Other - then answer 62a
Not applicable
62a. If other, please explain:
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|
ACCOUNT STRUCTURES AND RECORDKEEPING
The purpose of this section is to identify the nature of accounts; the naming
convention employed, the level of segregation achieved, accessibility in the
event of bankruptcy and the frequency of reporting generated from them.
|
|
63
|
Are participants permitted to maintain more than one account at the
depository?
Yes - then answer 63a
No
Not applicable
Other - then answer 63d
63a. If yes, please indicate number (Choose one.):
An
unlimited number of accounts.
More than one account, if so
please indicate below how many. - then answer 63b
Other (e.g., subaccounts). - then answer 63c
63b. If more than one account what is the maximum?
63c. If other, please explain:
63d. If other, please explain:
|
|
64
|
Are participants required/permitted to segregate assets held for their own
benefit from those they hold for their clients?
Yes - then answer 64a
No
Not applicable
Other - then answer 64d
64a. If yes, is segregation required or simply permitted?
Required - then answer 64b
Permitted - then answer 64b
Other - then answer 64e
64b. How does segregation occur? (Choose all that apply.)
By separately designated
participant accounts.
By sub-accounts within a single
participant account.
By separately designated
beneficial owner accounts.
Other (e.g., share registration).
- then answer 64c
64c. If other, please explain:
64e. If other, please explain:
64d. If other, please explain:
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|
65
|
Does the depository permit its participants to open accounts in the
participant's own nominee name(s)?
Yes - then answer 65a
No
Other. Please explain in
65b. - then answer 65b
Not applicable
65a. If “Yes”, do laws exist which acknowledge the rights of
beneficial owners with respect to securities registered in nominee name?
Yes
No
65b. If other, please explain:
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|
66
|
In the event a participant's single account is blocked for any reason
(e.g., insolvency, penalties, violations, liens), would securities held in
the account on behalf of the participant's clients be accessible:
66a. By the participant's clients?
Yes - then answer 66b
No
Not applicable.
Other - then answer 66i
66b. If yes, please describe briefly how clients of participants
would access their securities and whether there would be any delay in their
ability to do so:
the participant signs a contract with another member who takes over his
clients.
66i. If other, please explain:
66c. By the intervening authorities controlling insolvency or other
proceedings?
Yes - then answer 66d
No
Not applicable.
Other - then answer 66j
66d. If yes, please describe briefly under what conditions access
would be granted to the intervening authorities:
66j. If other, please explain:
66e. By the participant's creditors?
Yes - then answer 66f
No
Not applicable.
Other - then answer 66k
66f. If yes, please describe briefly under what conditions access
would be granted to the participant’s creditors:
66k. If other, please explain:
66g. By the depository's creditors?
Yes - then answer 66h
No
Not applicable.
Other - then answer 66l
66h. If yes, please describe briefly under what conditions access
would be granted to the depository’s creditors:
66l. If other, please explain:
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|
67
|
In what form does the depository maintain records identifying the assets
of each participant? (Choose all that apply.) (Please refer to
"Help" for clarification.)
Computer file - then answer 67b
Microfiche - then answer 67b
Hard copy - then answer 67b
Computer tape - then answer 67b
Other - then answer 67a
67a. If other, please explain:
67b. In which format is the source data maintained?
DBF, LDF and ASCII format
|
|
68
|
Rule 17f-7 requires that an Eligible Securities Depository “provides
periodic reports to its participants with respect to its safekeeping of
assets, including notices of transfers to or from any participant’s account.”
Does the depository make available periodic safekeeping reports to
participants, including notices of transfers to or from the participant’s
account?
Yes - then answer 68b
No (You will be asked to
confirm whether you want to move on to 70 in advance of answering subquestion
68a, do not be alarmed as it will allow you to answer 68a before moving on.) - then answer 68a and ›› take you to 70
Other - then answer 68a
68a. If no or other, please explain:
68b. If yes, please indicate the scheduled frequency: (Choose one.)
Daily.
Weekly.
Monthly.
Quarterly.
Annually.
Upon Request.
Other. - then answer 68c
68c. If other, please explain:
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|
69
|
What is your document retention policy for documents described in previous
question? (Choose one.)
6 months or less.
1 year.
3 years.
5 years.
7 years.
Other. - then answer 69a
69a. If other, please explain:
|
|
SETTLEMENTS
The purpose of this section is to identify the model of settlement employed,
the relationship between cash and securities, and the basis on which
participants’ meet their obligations.
|
|
70
|
The Committee on Payment and Settlement Systems of the Bank for International
Settlements (BIS) has identified three common structural approaches or models
for linking delivery and payment in a securities settlement system. Please
indicate which model your procedures most closely resemble (Please refer to
details on the models within the "Help" feature connected with this
question): (Choose all that apply.)
Model 1 - Gross, Simultaneous
Settlements of Securities and Funds Transfers. - then answer 70a
Model 2 - Gross
Settlements of Securities Transfers Followed by Net Settlement of Funds
Transfers. - then answer 70a
Model 3 - Simultaneous Net
Settlement of Securities and Funds Transfers. - then answer 70a
Not applicable
Other - then answer 70b
70a. How do your settlement procedures vary from the model chosen
above?
SETTLEMENT IS SIMULTANEOUS
70b. If other, please explain:
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|
71
|
Are the cash and security movements simultaneous?
Yes
No - then answer 71a
Not applicable
Other - then answer 71c
71a. If cash and security movements are not simultaneous, please
indicate the duration of the timing gap: (Choose one.)
1 hour or less
2 hours
3 hours
4 hours
5 hours
Overnight
2 days
Other - then answer 71b
71b. If other, please explain:
71c. If other, please explain:
|
|
OWNERSHIP OF SECURITIES
The purpose of this section is to determine how ownership of securities is represented,
the ways the depository maintains ownership or control of securities held in
the depository, and the extent to which ownership of assets held by the
depository is separated from the proprietary assets of the depository. This
section also considers the process by which the ownership of securities is
transferred in the depository and the existence of any liens or claims on
depository securities (such as a clearing lien) that would affect the
ownership of depository securities.
|
|
72
|
How are depository eligible securities held by the depository?
Securities in the depository are
held in certificated form. - then answer
72b
Securities in the
depository are held in dematerialized form. (You will be asked to confirm
whether you want to move on to 74 in advance of answering subquestion 72c, do
not be alarmed as it will allow you to answer 72c before moving
on.) - then answer 72c
Other. - then answer 72a
72a. If other, please explain and identify percentage issued of
total depository holdings:
72b. If held in certificated form, please indicate next to the type
of security the percentage of the depository's total issues that each
security represents. (Please provide numeric answer.)
Government Securities
in jumbo certificate form
Equities in jumbo
certificate form
Corporate Bonds in
jumbo certificate form
Corporate Money
Markets in jumbo certificate form
Government Securities
in individual certificate form
Equities in individual
certificate form
Corporate Bonds in
individual certificate form
Corporate Bonds in
individual certificate form
Corporate Money
Markets in individual certificate form
Other - please explain
in 72d.
72d. If other, please explain:
72c. If held in dematerialized form, please indicate next to the
type of security the percentage of the depository's total issues that each
security represents. (Please provide numeric answer.)
Government
Securities
Equities
Corporate
Bonds
Corporate
Money Markets
Other - please explain
in 72e.
72e. If other, please explain:
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73
|
If depository eligible securities are certificated, can depository
eligible securities be held outside of the depository?
All eligible securities must be
held in the depository. - then answer 73b
Securities may move freely into
and out of the depository. - then answer
73g
Once entered into the depository,
eligible securities must remain in the depository. - then answer 73b
Certain designated securities may
be held outside the depository. - then
answer 73a
Not Applicable.
Other - then answer 73j
73a. If certain designated securities are held outside the
depository, please indicate under which conditions these securities would be
held outside the depository:
73b. If depository eligible securities are required to be centrally
immobilized at the depository, where and with whom are the certificates
safekept?
- then answer 73c
73c. Are these certificates:
Bearer
Registered - then answer 73d
Other - then answer 73k
73d. If registered, how are the depository eligible securities
registered? (Do not be alarmed, the last two options will prompt you to ask
whether you wish to proceed to 75 before allowing you to answer the
subquestion but you will be given the opportunity to answer the subquestion
before continuing).
In the name of the depository.
In the name of the depositing
participant or its nominee.
In the name of a separate nominee
of the depository. - then answer 73f
Other. - then answer 73e
73e. If other, please describe:
73f. If in the name of a separate nominee, please identify by name
the nominee used:
73k. If other, please explain:
73g. If depository eligible securities may be held either in or out
of the depository, are these certificates:
Bearer - then answer 73h
Registered - then answer 73h
Other. Please explain in
73i. - then answer 73i
73h. What are the control features for receipt of certificates to
the depository (e.g., authentication procedures, re-registration)? Please
describe:
73i. If other, please explain:
73j. If other, please explain:
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|
74
|
If securities are dematerialized:
May dematerialized security positions be re-certificated and held outside the
depository?
Yes - then answer 74a
No - then answer 74a
Not Applicable
Other - then answer 74j
74a. Are the securities held: (Choose all that apply.)
Through book-entry at the
depository
Through book-entry at a registrar
or issuer - then answer 74b
Other - then answer 74k
74b. Please identify which types of entities may act as registrars:
(Choose all that apply.)
Issuers
Separate companies that perform
registrar functions
Depository
Other - then answer 74c
74c. Please explain:
74d. If the securities held by the depository are recorded by book
entry at the registrar, are the securities registered only to the depository,
with the depository providing the function of recording ownership on a
centralized basis for the market? (Choose all that apply.)
Yes - then answer 74e
No - then answer 74g
Other - then answer 74l
74e. If yes, how are securities held at the registrar for the
account of the depository? (Choose one.)
In the name of the
depository
In the name of a separate
nominee of the depository
Other - then answer 74f
74f. Please describe:
74g. If the securities held with the depository are recorded by
book-entry at the registrar but are not registered exclusively to the
depository, may they be registered to:
The beneficial owner
A nominee
Other - then answer 74h
74h. Please describe:
74i. If the securities held with the depository are recorded by
book-entry at the registrar, what are the control features at the registrar
for transfer of registrar positions to and from the depository (e.g., authentication
procedures, reconciliation, confirmation of position at registrar)? Please
describe:
74l. If other, please explain:
74k. If other, please explain:
74j. If other, please explain:
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|
75
|
Rule 17f-7 requires that an Eligible Securities Depository “maintains
records that identify the assets of each participant and segregate the
system’s own assets from the assets of participants.”
Does the depository maintain records that identify the assets of each
participant and segregate the system's own assets from the assets of
participants?
Yes
No
Not applicable - then answer 75a
Other - then answer 75a
75a. If other, please explain:
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|
76
|
Does the law protect participant assets from claims and liabilities of the
depository?
Yes
No
Not applicable
Other - then answer 76a
76a. If other, please explain:
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|
77
|
Can the depository assess a lien on participant accounts? (A lien would
entitle the depository to take and hold or sell the securities of the
participant in payment of a debt.)
Yes - then answer 77a
No
Not
applicable
Other - then answer 77l
77a. If yes, for what reasons are liens or similar claims imposed?
(Choose all that apply.)
Fees and expenses
Collateralization of overdrafts
To secure payment for purchased
securities
Other - then answer 77b
77b. Please describe:
77c. Please indicate the limits of this lien as indicated below:
(Choose one.)
The lien is limited to
securities in the participant’s proprietary account.
The lien is limited to
securities in the course of purchase and sale transactions, but does not
extend to settled positions.
The lien may extend to
settled client positions. - then answer 77d
Other. Please explain in
77d. - then answer 77d
77d. Please explain:
77e. If a lien is placed on a participant’s account which has been
designated for its clients, will the depository select certain securities to
be subject to the lien?
Yes - then answer 77f
No - then answer 77h
Other - then answer 77m
77f. If yes, please indicate whether: (Choose one.)
the lien is placed on the
most liquid securities in the account
the lien is placed on the
securities with the greatest value in the account
other selection criteria is
used. - then answer 77g
77g. Please explain:
77h. If no, please indicate whether the entire account will be
subject to the lien.
Yes
No
Other - then answer 77n
77n. If other, please explain:
77i. For accounts designated as client accounts, do procedures
exist to restrict the placement of liens only to obligations arising from
safe custody and administration of those accounts?
Yes - then answer 77j
No
Other - then answer 77o
77j. If yes, are the restrictions accomplished by:
contract between the
depository and the participant
other procedures - then answer 77k
77k. Please explain:
77o. If other, please explain:
77m. If other, please explain:
77l. If other, please explain:
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|
78
|
Transfer of Legal Ownership
Does the depository have legal authority to transfer title to securities?
Yes - then answer 78a
No
Not applicable
Other - then answer 78e
78a. When does title or entitlement to depository securities pass
between participants? (Choose one.)
At the end of the business
day on which the transfer occurs. - then answer 78c
When corresponding money or
other consideration is transferred. - then answer 78c
When the
transaction is processed on an intra-day basis. - then answer 78c
Other. - then answer 78b
78b. Please describe:
78c. Where does title or entitlement to depository securities pass
between participants? (Choose one.)
On the
depository books.
On the registrars books.
Other. - then answer 78d
78d. Please describe:
78e. If other, please explain:
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|
HANDLING OF SECURITIES OUTSIDE THE DEPOSITORY ENVIRONMENT
The purpose of this section is to consider the process (and any risk inherent
within such a process) that involves the safekeeping of client assets while
they are being removed from a depository or being lodged into a depository.
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|
79
|
How are eligible securities lodged in the depository system? (Choose all
that apply.)
A registered certificate in the
name of the depository is delivered to the depository.
A participant delivers the
security with a valid transfer deed or stock power or other transfer document
to the depository which then effects registration.
A registrar re-registers the
security in the name of the depository.
Other. - then answer 79a
Not applicable
79a. Please describe:
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|
80
|
When are securities lodged into the depository reflected in a
participant's depository account? (Choose all that apply.)
Securities are reflected in the
participant's depository account immediately upon delivery to the depository.
Securities are re-registered prior
to being reflected in the participant’s depository account.
Other. - then answer 80a
Not applicable
80a. Please explain:
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|
81
|
How long does it usually take to lodge securities with the depository?
(Choose one.)
1 to 2 days.
3 days to 1 week.
2 to 4 weeks.
More than 4 weeks. - then answer 81a
Not
applicable.
Other. Please explain in
81b. - then answer 81b
81a. Please specify:
81b. If other, please explain:
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|
82
|
During the process of lodging securities into the depository, can the
securities:
Be traded?
Yes
No - then answer 82c
Not
applicable
Other - then answer 82c
82a. During the process of lodging securities into the depository,
can the securities:
Be settled?
Yes
No - then answer 82d
Not
applicable
Other - then answer 82d
82b. During the process of lodging securities into the depository,
can the securities:
Have ownership transferred?
Yes
No - then answer 82e
Not
applicable
Other - then answer 82e
82e. If ownership can not be transferred, or if you answered other,
please explain:
82d. If they can not be settled, of if you answered other, please
explain:
82c. If they can not be traded, or if you answered other, please
explain:
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|
83
|
Are securities immediately available for delivery upon transfer to the
depository?
Yes
No - then answer 83a
Not
applicable
Other - then answer 83d
83a. If no: Securities are unavailable for:
1 to 2 days
3 days to 1 week
2 to 4 weeks
More than 4 weeks - then answer 83b
Other. Please explain in
83c. - then answer 83c
83b. If more than 4 weeks, please specify:
83c. If other, please explain:
83d. If other, please explain:
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|
84
|
Are eligible securities held through the depository afforded the same or
greater efficiencies as securities held outside the depository with respect
to:
84a. Income? (Choose one.)
Not
applicable
No - then answer 84b
Yes - for all instrument
types
Yes - for the following
instrument types only: - then answer 84c
Other - then answer 84b
84b. Please explain:
84c. Name instrument types:
84d. Corporate actions?
Not
applicable
No - then answer 84e
Yes - for all instrument
types
Yes - for the following
instrument types only: - then answer 84f
Other - then answer 84e
84e. Please explain:
84f. Name instrument types:
84g. Proxy Services?
Not
applicable
No - then answer 84h
Yes - for all instrument
types
Yes - for the following
instrument types only - then answer 84i
Other - then answer 84h
84h. Please explain:
84i. Name instrument types:
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|
85
|
Can securities held outside of the depository:
85a. Be traded without being lodged at the depository?
No - then answer 85b
Not
applicable
Yes
Other - then answer 85b
85b. Please explain:
85c. Be settled without being lodged at the depository?
No - then answer 85d
Not
applicable
Yes - then answer 85e
Other - then answer 85d
85d. Please explain:
85e. If yes, do settlements of depository-eligible securities
occurring outside the depository take longer to settle?
Yes
No
Not applicable
Other - then answer 85h
85h. If other, please explain:
85f. Have ownership transferred without being lodged at the
depository?
No - then answer 85g
Not
applicable
Yes
Other - then answer 85g
85g. Please explain:
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|
86
|
How are eligible securities removed from the depository? (Choose one.)
Securities are re-registered
into the name of the beneficial owner or a nominee.
Securities are
re-certificated and re-registered into the name of the beneficial owner or a
nominee.
Securities are
re-certificated and delivered as bearer instruments.
Securities are transferred
as is any physical delivery in the market.
Other - then answer 86a
Not
applicable
86a. Please specify:
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|
87
|
How long does it usually take to remove securities from the depository?
(Choose one.)
1 to 2 days
3 days to 1 week
2 to 4 weeks
More than 4 weeks - then answer 87a
Not
applicable
Other. Please explain in
87b. - then answer 87b
87a. Please specify:
87b. If other, please explain:
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|
88
|
While the securities are being removed from the depository, can they:
88a. Be traded? (Choose one.)
No - then answer 88b
Not
applicable
Yes
Other - then answer 88b
88b. Please explain:
88c. Be settled?
No - then answer 88d
Not
applicable
Yes
Other - then answer 88d
88d. Please explain:
88f. Have ownership transferred?
No - then answer 88g
Not
applicable
Yes
Other - then answer 88g
88g. Please explain:
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|
89
|
Where are securities that are outside the depository held in safekeeping?
(Choose all that apply.)
Securities are dematerialized;
ownership of securities is identified through the records of the company
registrar.
Securities are held physically,
registered on behalf of the beneficial owner or a nominee and physically
safekept by subcustodian banks.
Securities are held physically in
bearer form in subcustodian banks.
Securities may be held physically
by brokers, the registrar, or beneficial owner.
Other - then answer 89a
Not applicable
89a. Please specify:
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|
STANDARD OF CARE
The purpose of this section is to understand the responsibility and liability
that the depository has in providing services to its participants/members in
the settlement and clearing of securities and/or cash, and to understand what
type of protections exist for participants in the event of a participant
failure/default.
Depository Liability
|
|
90
|
Does the depository accept liability (independent of any insurance
coverage) for the following:
90a. Reconciliation errors with the registrar and/or issuer?
No
Not
applicable
Yes - then answer 90b
Other - then answer 90q
90b. If yes, please check all of the following that apply:
Financial limits are imposed on
the amount of liability assumed by the depository
The depository assumes liability
for direct losses
The depository assumes liability
for indirect or consequential losses
Other - then answer 90y
90y. If other, please explain:
90q. If other, please explain:
90c. Theft of securities (either physical certificate or
electronically from accounts at the depository) from the depository?
No
Yes - then answer 90d
Not
applicable.
Other - then answer 90r
90d. If yes, please check all of the following that apply:
Financial limits are imposed on
the amount of liability assumed by the depository
The depository assumes liability
for direct losses
The depository assumes liability
for indirect or consequential losses
Other - then answer 90z
90z. If other, please explain:
90r. If other, please explain:
90e. Failure of the depository’s systems that result in direct
damages or losses to participants because they cannot use either securities
or funds?
No
Yes - then answer 90f
Not applicable.
Other - then answer 90s
90f. If yes, please check all of the following that apply:
Financial limits are
imposed on the amount of liability assumed by the depository
The depository assumes liability
for direct losses
The depository assumes liability
for indirect or consequential losses
Other - then answer 90{
90{. If other, please explain:
90s. If other, please explain:
90g. Any loss caused by the depository due to errors, omissions or
fraud that cause direct damages or losses to participants?
No
Yes - then answer 90h
Not applicable.
Other - then answer 90t
90h. If yes, please check all of the following that apply:
Financial limits are
imposed on the amount of liability assumed by the depository
The depository assumes liability
for direct losses
The depository assumes liability
for indirect or consequential losses
Other - then answer 90|
90|. If other, please explain:
90t. If other, please explain:
90i. The depository acting as the central counterparty?
No
Not applicable
Yes - then answer 90j
Other - then answer 90u
90j. If yes, please check all of the following that apply:
Financial limits are imposed on
the amount of liability assumed by the depository
The depository assumes liability
for direct losses
The depository assumes liability
for indirect or consequential losses
Other - then answer 90}
90}. If other, please explain:
90k. Does the depository guaranty settlement?
No
Yes - then answer 90l
Not applicable.
Other - then answer 90v
90l. Please explain how this is accomplished. What are the
procedures and safeguards that permit the depository to guaranty settlement?
the CSD guaranties settlement because participants have guarantee funds and
margin accounts
90v. If other, please explain:
90u. If other, please explain:
the CSD is a CCP only for stock exchange transactions (shares and bonds of
the Republic of Serbia)
90m. Force majeure events, acts of God, or political events, etc.?
No
Yes - then answer 90n
Not applicable.
Other - then answer 90w
90n. If yes, please check all of the following that apply:
Financial limits are imposed on
the amount of liability assumed by the depository
The depository assumes liability
for direct losses
The depository assumes liability
for indirect or consequential losses
Other - then answer 90~
90~. If other, please explain:
90w. If other, please explain:
90o. In all cases where the depository assumes responsibility for
direct or indirect or consequential losses, is the depository’s liability
limited by a standard of care determination?
No
Yes - then answer 90p
Not applicable
Other - then answer 90x
90p. Please define the standard of care applied:
90x. If other, please explain:
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|
91
|
Do the depository’s written contracts, rules, or established practices and
procedures provide protection against risk of loss of participant assets by
the depository in the form of?
91a. Indemnification
Yes - then answer 91b
No
Other - then answer 91b
Not applicable
91b. Please explain:
- then answer 91i
91i. Please provide details of the relevant sections of the
contracts, rules or practices where this information is found.
91c. Insurance
Yes - then answer 91d
No
Other - then answer 91d
Not applicable
91d. Please explain:
there is insurance that covers professional responsability
- then answer 91j
91j. Please provide details of the relevant sections of the
contracts, rules or practices where this information is found.
Insurance contract
91e. Acknowledgement of liability for losses caused by depository's
own actions.
Yes - then answer 91f
No
Other - then answer 91f
Not applicable
91f. Please explain:
in that case the CSD accepts the liability for losses
- then answer 91k
91k. Please provide details of the relevant sections of the
contracts, rules or practices where this information is found.
Article 211. of the Law on Securities
91g. Other
Yes - then answer 91h
No
91h. Please explain:
- then answer 91l
91l. Please provide details of the relevant sections of the
contracts, rules or practices where this information is found.
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|
92
|
Is the depository immune from legal action in its own jurisdiction?
Yes
No
Other - then answer 92a
92a. If other, please explain:
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|
Security Control
|
|
93
|
How do participants receive information (view actual settlement of trades,
movement of securities on their accounts, etc.) and see the status of their
accounts? (Choose all that apply.)
By direct electronic link
By receipt of physical account
holding statements
Other - then answer 93a
Not applicable
93a. Please explain:
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|
94
|
Do participants have access to affect their holdings, including confirming
and affirming trades, movement of securities on their accounts, etc.?
Yes - then answer 94a
No
Other. Please explain in
94d. - then answer 94d
Not applicable
94a. How is access given to participants? (Choose all that apply.)
By direct electronic
link - then answer 94b
Other - then answer 94c
94b. Please select type of electronic link:
Dial-up modem
Secured, leased, dedicated
telephone line
Internet
Fax
94c. Please explain:
94d. If other, please explain:
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|
95
|
Regarding data security:
95a. Are passwords used by participants to access their accounts?
Yes
No
Not applicable
Other - then answer 95g
95g. If other, please explain:
95b. Does each user have a unique user ID?
Yes
No
Not applicable
Other - then answer 95h
95h. If other, please explain:
95c. Are passwords regularly changed?
Yes - then answer 95d
No
Not applicable
Other - then answer 95i
95d. How often?
every year the SMART card is changed
95i. If other, please explain:
95e. Is there a user lock-out after a pre-set number of
unsuccessful User ID attempts?
Yes - then answer 95f
No
Not applicable
Other - then answer 95j
95f. How many?
three unsuccesful attempts then lock out
95j. If other, please explain:
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|
96
|
Does the depository communicate with other market entities such as stock
exchanges, payment systems, clearing houses, etc., by secured linkages?
Yes - then answer 96a
No ›› take you to 98
Not applicable ›› take you to 98
Other - then answer 96a
96a. Please explain:
CSD has electronic link with the stock exchange, national payment system
(RTGS)and the Republic of Serbia
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|
97
|
How does the depository communicate with other market entities?
97a. Stock Exchanges (Choose all that apply.)
Dial-up modem
Secured, leased, dedicated
telephone line
Internet
Fax
Paper/other
Not applicable
97b. Payment Systems (Choose all that apply.)
Dial-up modem
Secured, leased, dedicated
telephone line
Internet
Fax
Paper/other
Not applicable
97c. Clearing Houses (Choose all that apply.)
Dial-up modem
Secured, leased, dedicated
telephone line
Internet
Fax
Paper/other
Not applicable
97d. Are there any other entities?
Yes - then answer 97e
No
97e. Please identify:
TREASURY DEPARTMENT OF THE MINISTRY FOR FINANCE
- then answer 97f
97f. How does the depository communicate with this/these other
market entity/entities? (Choose all that apply.)
Dial-up modem
Secured, leased, dedicated
telephone line
Internet
Fax
Paper/other
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|
98
|
How is access to the physical building controlled? (Choose all that
apply.)
By guards
By electronic
keys/personal ID card
By alarm system
Other - then answer 98a
98a. Please explain:
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|
99
|
What are the vault security procedures for the safekeeping of physical
paper? (Choose all that apply.)
Not applicable; no vault
is maintained
Electronic keys/combinations
Dual access control
Visitor logs
Vault counts - then answer 99a
Intrusion alarms
Fire alarms
Guards
Other - then answer 99b
99a. Please indicate frequency of vault counts:
99b. Please explain:
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|
Participant Default Protections Resulting from a Participant Failure
|
|
100
|
If a participant defaults, how is the loss covered? (Choose all that
apply?)
Depository insurance covers the
loss - then answer 100a
The depository guaranty
fund covers the loss
Loss is shared among
participants - then answer 100b
Other - then answer 100c
Not applicable
100a. Please explain the process:
100b. Please explain the process of how the loss is shared: (Choose
one.)
Equally, among participants
Pro-rata based on
participant's volume
Limited to participants with
transactions with failing counterparty
Other - then answer 100d
100d. If other, please explain:
100c. Please explain:
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|
101
|
During the past three years, has there been a situation where a
participant defaulted which resulted in a significant loss?
Yes - then answer 101a
No
Not applicable
Other - then answer 101a
101a. How was the situation resolved? Or if you answered
"Other," then please explain:
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|
102
|
Does the depository have a guaranty fund independent of stock exchange or
other market guarantees?
Yes - then answer 102a
No ›› take you to 103
Not applicable ›› take you to 103
Other - then answer 102l
102a. If yes, please respond to the following questions:
What is the size of the fund?
EUR 4,12 million
- then answer 102b
102b. How is the size of the fund determined? (Choose one.)
By participant volume
By asset value
A fixed amount
Other - then answer 102f
102f. If other, please explain:
40.000 EUR fixed amount for each participant plus margin call determined by
participant volume
102c. How is the fund financed? (Choose one.)
Contributions from owners - then answer 102g
Contributions
from participants - then answer 102h
Funding from retained
earnings
Other - then answer 102i
102g. If so, what is the amount or percentage per owner?
102h. If so, what is the amount or percentage per participant?
40.000 EUR per participant
102i. If other, please explain:
102d. Who is covered by the fund? (Choose all that apply.)
Direct depository
participants only
The beneficial owner also
Other - then answer 102j
102j. If other, please explain:
102e. When is the guaranty fund used? (Choose all that apply.)
When a broker defaults
When a direct participant
defaults
Other - then answer 102k
102k. If other, please explain:
102l. If other, please explain:
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|
103
|
Does the depository have forms of oversight management for assessing and
monitoring of the following? (Choose all that apply.)
Participant eligibility
requirements
Participant volumes
Participant financial strength
Other loss or default protections
the depository maintains - then answer
103a
Collateral requirements
for participants - then answer 103b
Debit caps for
participants - then answer 103c
Settlement controls that
minimize or eliminate the risk of default by a participant - then answer 103d
Blocking of securities movement
before receipt of payment
Blocking payment until securities
are moved
Other forms of risk
management used for assessing and monitoring participant
exposures - then answer 103e
Not applicable
103a. Please explain other loss or default protections:
103b. Please explain the requirements:
5 bills of exchange in the amount of 5 million dinars (EUR 60 000)
103c. Please explain how these debit caps work:
103d. What type or types of settlement controls (Choose all that
apply.)
Blocking or freezing of securities
positions - then answer 103f
Controlling DVP
settlement - then answer 103g
Simultaneous
DVP - then answer 103h
Other - then answer 103i
103f. Please explain:
103g. Please explain:
103h. Please explain:
since the CSD has both securities and money accounts of participants, it
performs the simultaneous DVP
103i. Please identify and explain:
103e. Please explain briefly how these work:
members have margin accounts and margin calls
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104
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Does the stock exchange have default protections that extend to the
depository, such as the following? (Choose all that apply.)
Margin requirements for stock
exchange members
Guaranty fund for stock exchange
members
Financial requirements for
stock exchange membership
Other - then answer 104a
No
Not applicable
104a. Please explain:
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BUSINESS RECOVERY PLAN
This section is intended to identify key aspects of the depository’s Business
Recovery Plan ("BRP"), including testing requirements and past
results, expected recovery time periods, and the independent review and
validation (if any) of the BRP.
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105
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Do you have a formal business recovery plan?
Yes - then answer 105a
No
Other - then answer 105g
105a. Does your Business Recovery Plan include: (Choose all that
apply.)
Back-up of all computer
files
Off-site data storage
Back-up files stored and
locked
Off-site operations
facility
Other - then answer 105h
105b. Please identify both the frequency of testing and the last
date of testing for the following third Party:
Depository Participants/Members
twice a year
105c. Please identify both the frequency of testing and the last
date of testing for the following third Party:
Stock Exchange
twice a year
105d. Please identify both the frequency of testing and the last
date of testing for the following third Party:
Central Bank
twice a year
105e. Please identify both the frequency of testing and the last
date of testing for the following third Party:
Local Brokers
twice a year
105f. Please identify both the frequency of testing and the last
date of testing for the following third Party:
any Other third Party
105h. If other, please explain:
105g. If other, please explain:
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106
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How quickly can the main system be reactivated in the event of an outage?
(Choose one.)
1 - 4 hours
4 - 8 hours
8 - 24 hours
Longer than 24 hours
Not applicable
Other - then answer 106a
106a. If other, please explain:
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107
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If a back-up system exists, how quickly can the back-up system be
activated in the event of the main system failing? (Choose one.)
1 - 4 hours
4 - 8 hours
8 - 24 hours
Longer than 24 hours
Not applicable
Other. Please explain in
107a. - then answer 107a
107a. If other, please explain:
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108
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Will the depository publicly announce any system interruption?
Yes - then answer 108a
No ›› take you to 109
Not applicable
Other - then answer 108g
108a. To whom will the depository disclose any system
interruptions? (Choose all that apply.)
To the depository regulators
To all direct participants
To direct and indirect
participants
To the public via the
internet - then answer 108c
In the press - then answer 108d
Other - then answer 108e
108b. How will the depository disclose any system interruptions?
(Choose all that apply.)
By e-mail
By telephone
Public announcement
Press release
Other - then answer 108f
108f. Please explain:
108c. If so, please list webpage address:
108d. If so, please list publications:
108e. Please explain:
108g. If other, please explain:
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109
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In the past three years, has it been necessary to activate the recovery
plan in a live situation?
Yes - then answer 109a
No
Not applicable
Other - then answer 109d
109a. If yes:
How much time was needed to implement the recovery plan? (Choose one.)
Less than 1 hour - then answer 109b
1 - 2 hours - then answer 109b
2 - 4 hours - then answer 109b
Longer than 4 hours - then answer 109b
109b. How much time was needed to recover and restore business to
normal operations? (Choose one.)
1 - 4 hours - then answer 109c
4 - 8 hours - then answer 109c
8 - 24 hours - then answer 109c
Longer than 24 hours - then answer 109c
109c. What was the impact to the market? (Choose all that apply.)
All securities settlements took
place as scheduled on the same day with good value
All cash settlements took place as
scheduled on the same day with good value
All securities settlements took
place one business day late with good value
All cash settlements took place
one business day late with good value
All securities settlements took
place one business day late with value one day late
All cash settlements took place
one business day late with value one day late
All securities settlements took
place more than one business day late
All cash settlements took place
more than one business day late
As a result of the system failure,
all fines and penalties for late settlements were waived
Even though there was a system
failure, all fines and penalties for late settlements were still assessed
Other - then answer 109e
109e. If other, please explain:
109d. If other, please explain:
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PERFORMANCE, INSURANCE AND LOSS
This section is intended to identify the level of insurance maintained by the
depository, and the extent to which coverage would extend to financial loss
incurred by participants and their clients, including but not limited to
losses resulting from operating performance, security breaches, and employee
negligence or misconduct.
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110
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Has there been any material loss by the depository during the past three
years?
Yes - then answer 110a
No
Other. Please explain in
110b. - then answer 110b
Not applicable
110a. If there has been a loss, please describe the cause, the
final impact and the action taken to prevent a recurrence:
110b. If other, please explain:
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111
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Has the depository been subject to any litigation involving a participant
during the past three years?
Yes - then answer 111a
No
Other. Please explain in
111b. - then answer 111b
Not applicable
111a. Please explain the circumstances and resolution:
111b. If other, please explain:
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112
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Has the depository realized revenues sufficient to cover expenses during
the past three years? (Choose one.)
Yes for all
three years
Yes for two of the last
three years
Yes for one of the last
three years
None of the last three years
Not applicable
Other - then answer 112a
112a. If other, please explain:
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113
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Does the depository maintain a reserve for operating losses?
Yes - then answer 113a
No
Not applicable
Other - then answer 113b
113a. Please describe and indicate reserve amount:
up to 30% of capital
113b. If other, please explain:
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114
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Has the regulatory body with oversight responsibility for the depository
issued public notice that the depository is not in current compliance with
any capital, solvency, insurance or similar financial strength requirements
imposed by such regulatory body?
Yes - then answer 114a
No
Not applicable
Other - then answer 114f
114a. Please describe:
- then answer 114b
114b. In the case of such a notice having been issued, has such
notice been withdrawn, or, has the remedy of such noncompliance been publicly
announced by the depository?
Yes - then answer 114c
No - then answer 114d
Other. Please explain in
114e. - then answer 114e
114c. If Yes, please describe:
114d. If No, why not?
114e. If other, please explain:
114f. If other, please explain:
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115
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Does the depository have insurance for Default?
Yes - then answer 115a
No
Not applicable
Other - then answer 115c
115a. What is the amount of the coverage?
- then answer 115b
115b. What is the amount of the deductible?
115c. If other, please explain:
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116
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Does the depository have insurance for Fidelity?
Yes - then answer 116a
No
Not applicable
Other - then answer 116c
116a. What is the amount of the coverage?
- then answer 116b
116b. What is the amount of the deductible?
116c. If other, please explain:
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117
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Does the depository have insurance for Operational Errors?
Yes - then answer 117a
No
Not applicable
Other - then answer 117c
117a. What is the amount of the coverage?
59,3 MILLION DINARS
- then answer 117b
117b. What is the amount of the deductible?
348 000 DINARS
117c. If other, please explain:
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118
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Does the depository have insurance for Errors and Omissions?
Yes - then answer 118a
No
Not applicable
Other - then answer 118c
118a. What is the amount of the coverage?
72,9 MILLION DINARS
- then answer 118b
118b. What is the amount of the deductible?
324 000 DINARS
118c. If other, please explain:
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119
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Does the depository have insurance for Computer Fraud?
Yes - then answer 119a
No
Not applicable
Other - then answer 119c
119a. What is the amount of the coverage?
- then answer 119b
119b. What is the amount of the deductible?
119c. If other, please explain:
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120
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Does the depository have insurance for the Premises?
Yes - then answer 120a
No
Not applicable
Other - then answer 120c
120a. What is the amount of the coverage?
18,6 MILLION DINARS
- then answer 120b
120b. What is the amount of the deductible?
17 000 DINARS
120c. If other, please explain:
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121
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Does the depository have any other insurance?
Yes - then answer 121a
No
Not applicable
Other - then answer 121d
121a. If so, what is it for?
for the employees of the CSD
- then answer 121b
121b. What is the amount of the coverage?
4,2 million dinars
- then answer 121c
121c. What is the amount of the deductible?
202 thousand dinars
121d. If other, please explain:
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122
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Who is the insurance carrier? If more than one insurance carrier, please
list each carrier here and provide your responses to question's 122a and 122b
in corresponding order.
WINER STADTISHE
- then answer 122a
122a. Who is the insurance carrier's parent company, if applicable?
(If inapplicable, simply type n/a.)
N/A
- then answer 122b
122b. What is the term of the policy?
INSURANCE CONTRACT SIGNED APRIL 28,2007
COVERS ONE YEAR
- then answer 122c
122c. Who does the insurance cover? (Choose all that apply.)
Depository
Direct depository participants
Final investors
Other - then answer 122d
Not applicable
122d. If other, please identify:
the employees of the CSD
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123
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If you feel that you would like to provide additional details on any of
the given answers, feel free to provide any additional comments here (maximum
of 5,000 characters) or prepare an additional document identifying the
question(s) you are commenting on and upload the document under 123a:
no comment
123a. Upload document here:
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PUBLIC AVAILABILITY
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124
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The AGC encourages respondents/depositories to make their answers to this
questionnaire publicly available. Will you be making your response publicly
available? (For additional guidance, please review the help feature to this
question.)
Yes - then answer 124a
No
124a. If yes, how will you be making it publicly available: (Choose
all that apply.)
Web site - then answer 124b
By individual request with
depository - then answer 124c
Other - then answer 124i
124b. Please provide web site address of publicly available
questionnaire:
124c. Please provide name of contact at depository who has been
designated to receive such requests.
- then answer 124d
124d. How would they prefer to be contacted? (Choose all that
apply.)
Telephone - then answer 124e
Facsimile - then answer 124f
By mail/air courier - then answer 124g
By e-mail - then answer 124h
124e. Please provide telephone number:
124f. Please provide facsimile number:
124g. What is the preferred street address for mailing requests?
124h. What is the preferred e-mail address for such requests:
124i. If other, please describe how you will be making the
questionnaire publicly available:
124j. Have you updated your contact details on the home page of
this questionnaire? If not, please be sure to do so. Simply click on the
"Home" button in the right tool bar and it will return you to the
home page containing your contact detail information.
You have reached the end of the questionnaire. Please be sure to print your
responses and review them prior to submitting your questionnaire. (To print,
click on the "Print" button in the right hand tool bar. This will
open up a separate window in your web browser. It may take a few moments for
the information to load. Once it has loaded, you will be able to scroll
through your entire questionnaire and then to print, you must choose the
print feature from your web browser. In many cases, this is: "file"
then "print." Clicking on the "print" button alone in the
questionnaire toolbox will not print the questionnaire.) It is important that
you ensure the accuracy of your draft responses before submitting the
responses as submission will finalize your response. When you are prepared to
submit your answers, please return to this question and select "save"
(or in the alternative select "end" from the toolbox) which will
then take you to the submission option provided all the necessary questions
have been answered.
The members of The Association of Global Custodians thank you for your time
and for your helpful response.
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