Cash services – Ukraine
Cash instruction deadlines
Note: All times are Central European Time (CET).
The deadlines for client cash instructions in UAH are as follows:
Period | Pre-advice | Withdrawal | Transfer | FX |
for Value Date (VD) = Settlement Date (SD) | ||||
All year | VD 11:00 | VD 11:00 | VD 20:00 | VD-2 11:30 |
MT202 Cash instruction formats
Important note: Clients that are instructing a withdrawal or entry of funds in UAH need to respect the following instruction formats. Payments will be rejected in the event of failure.
CBL clients are reminded that final beneficiaries of Ukrainian Government bonds for cash transactions settled via the link can be non-resident institutions and local Ukrainian banks only.
In addition, clients must pay specific attention to the reason wording in field :72:/BNF/.
1. Outbound payments
a) Transfer from non-resident CBL cash account to own local on-shore non-resident cash account
:52/BIC of Ultimate debtor only
:57a:/BIC of the local agent
:58D:/IBAN (IBAN is mandatory in Ukraine and should be populated without space)
Beneficiary name
NA 0000000001
72: BNF/ Clients need:
- to choose the appropriate reason from the list below;
- GVMT Bonds Redemption; or
- GVMT Bonds Coupon; or
- GVMT Bonds Sale Proceeds; or
- Own funds for reinvestment
- to provide ultimate debtor full name and full address (country, city, street, building number, app., post code),
- the entire data in field (72:) should not exceed 140 symbols/digits.
b) Reinvestment from non-resident CBL cash account to non-resident local on-shore cash account
:52/BIC of Ultimate debtor only
:57a:/BIC of the local agent
:58D:/IBAN (IBAN is mandatory in Ukraine)
Beneficiary name
NA 0000000001
:72:/BNF/
- indicate the appropriate reason of the transaction, that is, purchase or sale of GVMT on primary or secondary market,
- include number and date of PSA/brokerage agreement,
- provide ultimate debtor full name and full address (country, city, street, building number, app., post code),
- the entire data in field (72:) should not exceed 140 symbols/digits.
c) Reinvestment From non-resident CBL cash account to resident local banks of Ukraine
:52/BIC of Ultimate debtor only
:57a:/BIC of the local agent
:58D:/IBAN (IBAN is mandatory in Ukraine)
Beneficiary name
USRC (8 digit code) of the local resident2
:72:/BNF/
- indicate the appropriate reason of the transaction, that is, purchase or sale of GVMT on primary or secondary market,
- include number and date of PSA/brokerage agreement;
- provide ultimate debtor full name and full address (country, city, street, building number, app., post code),
- the entire data in field (72:) should not exceed 140 symbols/digits.
2. Inbound payments
a) From own non-resident local on-shore cash account to own non-resident CBL cash account
Scenario: CBL client transfers UAH funds between its on-shore account and own CBL cash account.
:57a:/CITIUAUKXXX
:58D:/UA273005840000016006460108004
Clearstream Banking S.A.
NA 0000000001
:72:/BNF/Ultimate creditor full name and CBL account number (5-digit CBL account and name of non-resident), own funds for reinvestment:
- The entire data in field (72:) should not exceed 140 symbols/digits.
b) From non-resident local on-shore cash account or local resident bank on-shore cash account to own non-resident CBL cash account
Scenario: CBL client sells government bonds to another non-resident on-shore or a local bank on-shore in Ukraine.
:57a:/CITIUAUKXXX
:58D:/UA273005840000016006460108004
Clearstream Banking S.A.
Tax Code 0000000001
:72:/BNF/ Ultimate creditor full name and CBL account number (5-digit CBL account + CBL name of non-resident). Payment for GVMT bonds PSA (number and date):
- The entire data in field (72:) should not exceed 140 symbols/digits.
FX repatriation
According to Regulation #68, dated 19 May 2023, holders of securities eligible for repatriation have the obligation to hold these securities for a period of 90 calendar days (CDs), prior to the payment date of the interest/coupon derived from any government bonds in UAH, to be eligible for FX/repatriation.
Clients should note that interest/coupon derived from government bonds, including the so-called “military bonds” is eligible to FX/repatriation while redemption is out of scope and remains unrepatriable until further notice.
Clearstream Banking issues a corporate action event (OTHR) via MT564 to provide the clients in favour of whom the proceeds have been received, the option to send a confirmation of indemnity. If the confirmation of indemnity is received, Clearstream Banking will perform the FX/repatriation to those clients on their regular accounts.
This indemnity (the “Indemnity”) in the context of the UAH FX/repatriation event (the “Event”) serviced by Clearstream Banking S.A. (“CBL”):
We hereby represent and warrant, in the context of the Event, that (i) we or any of our underlying clients have retained the securities for a period of 90 calendar days prior to the coupon/interest payment, (ii) no request of FX/repatriation from us or any of our underlying clients has occurred in deviation from the framework in place with the official local regulation issued by National Bank of Ukraine (“NBU”) (the “Warranty”).
We certify that we have performed all the necessary checks and due diligence to fully satisfy ourselves as to the accuracy of the Warranty and have obtained all supporting documents (if any) in relation thereto (the “Certification”).
We hereby agree that we shall assume full responsibility in relation to the accuracy, reliability or completeness of the above Warranty and Certification.
In consideration of the above, we expressly agree that we shall fully indemnify, defend and hold CBL harmless from and against, any and all claim levied against CBL, loss, liability, damage, judgment, settlement, fine, penalty, demand, cost or expense suffered by CBL (including, without limitation, fees and expenses of defending itself or enforcing this agreement) arising out of or in connection with this Indemnity; including any claims, penalties, taxes and interest thereon, levied by any competent authority in connection with the Warranty and/or the Certification, or in respect of any other costs incurred, in connection with any action taken by CBL in reliance upon the content of this Indemnity.
This Indemnity shall be governed and construed in accordance with the law of Luxembourg.
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1. Always NA 000000000 for non-residents.
2. USRC is a Unified State Register Code (Unified State Register of Enterprises and Organizations of Ukraine).