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Version status: In force | Document consolidation status: Assimilated law updated to reflect all known changes
Version date: 31 December 2020 - onwards
Version 2 of 2

Article 65 Problems related to reconciliation

1. A CSD shall analyse any mismatches and inconsistencies resulting from the reconciliation process and endeavour to solve them before the beginning of settlement on the following business day.

2. Where the reconciliation process reveals an undue creation or deletion of securities, and the CSD fails to solve this problem by the end of the following business day, the CSD shall suspend the securities issue for settlement until the undue creation or deletion of securities has been remedied.

3. In the event of suspension of the settlement, the CSD shall inform without undue delay its participants, competent authority, and all other entities involved in the reconciliation process referred to in Articles 61, 62 and 63.

4. The CSD shall take without undue delay all the necessary measures to remedy the undue creation or deletion of securities and shall inform its competent authority with regard to the measures taken.

5. The CSD shall inform without undue delay its participants, competent authority, and the other entities involved in the reconciliation process that are referred to in Articles 61, 62 and 63, when the undue creation or deletion of securities has been remedied.

6.[deleted]

7. The CSD shall resume settlement as soon as the undue creation or deletion of securities has been remedied.