Cash Account Administration

The cash accounts we provide for our cash account holders are limited in their use to the business of a central securities depository (settlement, asset servicing and payment of fees).

We administer cash accounts for our cash account holders in Euro and in a number of different foreign currencies.

It is important to know that each securities account holder of OeKB CSD has at least one Euro cash account assigned. This cash account is used among other things for the debiting of the invoice total, which is due after the monthly billing of our fees.

The cash accounts we provide for our cash account holders are limited in their use to the business of a central securities depository (settlement, asset servicing and payment of fees). Therefore, we ask our cash account holders to note some cash account specifics.

Due to this limitations it is not allowed to keep overnight credit balances on cash accounts. There are only two exceptions to this rule:

1. A maximum basis amount of Euro 2,000.00 on one Euro cash account per cash account holder. Many of our cash account holders make use of this option to cover fees, which are debited from the cash account after invoicing. This allows you to transfer the invoice total to the cash account at a later date.
2. An amount on foreign currency cash accounts which serves as payment for a securities transaction on the following T2S Opening Day (day of operation). We are aware that foreign currency transfers often take longer than one T2S Opening Day (day of operation). It is possible to make use of this option if there is a securities transaction underlying the amount on the foreign currency account.

Any excess credit balance before the end of the T2S Opening Day (day of operation) will be

• automatically debited from each Euro cash account. A standing order for every cash account holder will be set up by us when the cash account is opened. This standing order sweeps the credit balance to an account kept with the central bank.   
• disposed manually from the foreign currency account by the cash account holder by means of an instruction.

The cash accounts we provide for our cash account holders are limited in their use to the business of a central securities depository (settlement, asset servicing and payment of fees). Therefore, we are not allowed to grant loans or overdrafts on cash accounts.

Please note that your cash instructions will only be executed if the cash account has a sufficient credit balance.