ESMA70-151-887 Last update 10 May 2021
Relevant Authorities for Central Securities Depositories (CSDs) Article 12 of Regulation (EU) No 909/20141 (CSDR)
Pursuant to Article 12(1) of CSDR, the following authorities shall be involved in the authorisation and supervision of CSDs: (a) the authority responsible for the oversight of the securities settlement system operated by the CSD in the Member State whose law applies to that securities settlement system; (b) the central banks in the Union issuing the most relevant currencies in which settlement takes place; (c) where relevant, the central bank in the Union in whose books the cash leg of a securities settlement system operated by the CSD is settled.
ESMA is responsible for publishing on its website the list of the relevant authorities referred to in Article 12(1) of CSDR. The list included below has been compiled as follows: - regarding points (a) and (c) of Article 12(1) of CSDR – based on the information communicated by the Member States; - regarding point (b) of Article 12(1) of CSDR – in accordance with Article 2(1) of the Commission Delegated Regulation (EU) 2017/3922, and the ESMA Guidelines on the process for calculation of the indicators to determine the most relevant currencies in which settlement takes place (ref. ESMA70-708036281-66).
ESMA will update the information as follows: - regarding points (a) and (c) of Article 12(1) of CSDR – regularly based on further notifications received from the Member States; - regarding point (b) of Article 12(1) of CSDR – on an annual basis.
1 Regulation (EU) No 909/2014 of the European Parliament and of the Council of 23 July 2014 on improving securities settlement in the European Union and on central securities depositories and amending Directive 98/26/EC and 2014/65/EU and Regulation (EU) No 236/2012 (OJ L 257, 28.8.2014, p. 1). 2 Commission Delegated Regulation (EU) 2017/392 of 11 November 2016 supplementing Regulation (EU) No 909/2014 of the European Parliament and of the Council with regard to regulatory technical standards on authorisation, supervisory and operational requirements for central securities depositories (OJ L 65, 10.3.2017, p. 48).
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ESMA70-151-887 Last update 10 May 2021
Member State Competent Applicant CSDs Relevant Authorities Authorities / CSDs (a) Authority (b) CBs in the Union (c) Where relevant, CB (If 2 CAs, the one responsible for issuing the most in the Union in responsible for the oversight relevant currencies whose books the cooperation with of the SSS in which settlement cash leg of the SSS other authorities operated by takes place operated by the is signaled in the CSD in the CSD is settled bold) MS whose law applies to that SSS Austria FMA – Financial OekB CSD Oesterreichische For EUR: Eurosystem Eurosystem represented by Market Authority GmbH Nationalbank (Austrian represented by Oesterreichische Central Bank) Oesterreichische Nationalbank (Austrian Nationalbank (Austrian Central Bank) Central Bank)
Belgium National Bank of Euroclear Bank National Bank of For EUR: Eurosystem N/A Belgium – ICSD Belgium represented by National Bank of Belgium
For DKK: Nationalbanken (Danmarks Nationalbank)
For NOK: Norges Bank (Central Bank of Norway) CIK (Euroclear National Bank of For EUR: Eurosystem Eurosystem represented by Belgium) Belgium represented by National National Bank of Belgium Bank of Belgium
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Bulgaria Financial Central Financial Supervision For BGN: Bulgarian National N/A Supervision Depository AD Commission Bank Commission
Croatia Croatian Central Croatian Financial For HRK: Croatian National Croatian National Bank Financial Depository and Services Supervisory Bank Services Central Clearing Agency (HANFA) Supervisory Company Inc. Agency (HANFA) ---- Croatian National Bank (HNB)
Cyprus Cyprus Cyprus Stock Central Bank of Cyprus For EUR: Eurosystem Eurosystem represented by Securities and Exchange represented by Central Bank Central Bank of Cyprus Exchange of Cyprus Commission (CySEC) ---- Central Bank of Cyprus (CBC)
Czech Republic Czech National Central Czech National Bank For CZK: Czech National Czech National Bank Bank Securities Bank Depository Prague
Denmark Finanstilsynet VP Securities Nationalbanken For DKK Nationalbanken Nationalbanken (Danmarks (Danish Financial A/S (Danmarks (Danmarks Nationalbank) Nationalbank) Supervisory Nationalbank) Authority) For EUR: Eurosystem represented by European Central Bank
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Estonia Finantsinspektsio N/A In relation to the N/A In relation to the Nasdaq on Nasdaq CSD SE SSS CSD SE SSS: Eurosystem governed by Estonian represented by Eesti Pank law: Eesti Pank
Finland The Ministry of Euroclear Suomen Pankki (Bank For EUR: Eurosystem Eurosystem represented by Finance Finland Oy of Finland) represented by Suomen Suomen Pankki (Bank of ----- Pankki (Bank of Finland) Finland) The Financial Supervisory Authority (FIN- FSA)
France Autorité des Euroclear Banque de France For EUR: Eurosystem Eurosystem represented by marchés France represented by Banque de Banque de France financiers (AMF) France ----- Banque de France (BDF) ID2S Banque de France For EUR: Eurosystem Eurosystem represented by represented by Banque de Banque de France France
Germany Bundesanstalt für Clearstream Deutsche Bundesbank For EUR: Eurosystem Eurosystem represented by Finanzdienstleistu Banking AG represented by Deutsche Deutsche Bundesbank ngsaufsicht Bundesbank (BAFIN)
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Greece Hellenic Capital Hellenic Central Bank of Greece For EUR: Eurosystem Eurosystem represented by Market Securities represented by Bank of Bank of Greece Commission Depository SA Hellenic Capital Market Greece (ATHEX CSD) Commission
Hungary Magyar Nemzeti KELER Ltd. Magyar Nemzeti Bank For HUF: Magyar Nemzeti Magyar Nemzeti Bank Bank Bank
Ireland Central Bank of N/A N/A N/A N/A Ireland
Italy Consob Monte Titoli Bank of Italy For EUR: Eurosystem Eurosystem represented by ---- S.p.A. ---- represented by Bank of Italy Bank of Italy Bank of Italy Consob
Latvia Financial and Nasdaq CSD SE For the SSS governed For EUR: Eurosystem represented by Capital Market by Estonian law: Eesti Pank (Bank of Estonia) Authority (FCMC) Eesti Pank (Bank of Eurosystem represented by ---- Estonia) Eesti Pank (Bank of Estonia) Eurosystem represented by ------Latvijas Banka (Bank of For the SSS governed Eurosystem represented by Latvia) by Latvian law: Latvijas Banka (Bank of Latvijas Banka (Bank of ------Latvia) Latvia) Eurosystem represented by ------Lietuvos Bankas (Bank of For the SSS governed Eurosystem represented by Lithuania) by Lithuanian law: Lietuvos Bankas (Bank of Lietuvos Bankas (Bank Lithuania) of Lithuania) For ISK: The Central Bank of Iceland
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Lithuania Lietuvos Bankas N/A In relation to the N/A In relation to Nasdaq CSD Nasdaq CSD SE SSS, SE – for EUR: Eurosystem governed by Lithuanian represented by Lietuvos law: Bankas (Bank of Lithuania) Lietuvos Bankas (Bank of Lithuania) Luxembourg Commission de Clearstream Banque centrale du For EUR: Eurosystem N/A surveillance du Banking Luxembourg represented by Banque secteur financier Luxembourg centrale du Luxembourg (CSSF) ---- For HRK: Croatian National Bank
LuxCSD S.A. Banque centrale du For EUR: Eurosystem Eurosystem represented by Luxembourg represented by Banque Banque centrale du centrale du Luxembourg Luxembourg
Malta Malta Financial Malta Stock Central Bank of Malta For EUR: Eurosystem Eurosystem represented by Services Authority Exchange Plc represented by Central Bank Central Bank of Malta of Malta
The Netherlands Dutch Authority Euroclear De Nederlandsche Bank For EUR: Eurosystem Eurosystem represented by for the Financial Nederland (Dutch National Bank) represented by De De Nederlandsche Bank Markets (AFM) Nederlandsche Bank (Dutch (Dutch National Bank) ----- National Bank) De Nederlandsche Bank (Dutch National Bank)
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(cooperation with ECB and EBA) Poland KNF-Komisja KDPW Narodowy Bank Polski For PLN: Narodowy Bank Narodowy Bank Polski Nadzoru (National Bank of Polski (National Bank of (National Bank of Poland) Finansowego Poland) Poland) (Polish Financial
Supervision Authority)
Portugal CMVM – Interbolsa, CMVM – Comissão do For EUR: Eurosystem Eurosystem represented by Comissão do SGSCSLVM, Mercado de Valores Mo represented by Banco de Banco de Portugal Mercado de S.A. biliários Portugal Valores Mobiliários
Romania Romanian Depozitarul Banca Naţională a for RON: Banca Naţională a Banca Naţională a României Financial Central S.A. României (National României (National Bank of (National Bank of Romania) Supervisory Bank of Romania) Romania) Authority ------
For EUR: Eurosystem represented by European Central Bank
Slovakia National Bank of Národný National Bank of For EUR: Eurosystem Eurosystem represented by Slovakia centrálny Slovakia represented by National National Bank of Slovakia depozitár Bank of Slovakia cenných
papierov, a.s.
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Centrálny National Bank of For EUR: Eurosystem Eurosystem represented by depozitár Slovakia represented by National National Bank of Slovakia cenných Bank of Slovakia papierov SR,
a.s.
Slovenia Securities KDD Central Bank of Slovenia For EUR: Eurosystem Eurosystem represented by Market Agency Securities represented by Bank of Bank of Slovenia ------Clearing Slovenia Bank of Slovenia Corporation (KDD)
Spain Comisión Iberclear Comisión Nacional del For EUR: Eurosystem Eurosystem represented by Nacional del Mercado de Valores represented by Banco de Banco de España (Bank of Mercado de (CNMV) España (Bank of Spain) Spain) Valores (CNMV) ------
Banco de España (Bank of Spain) Sweden Finansinspektione Euroclear Sveriges Riksbank (The For SEK: Sveriges Riksbank Sveriges Riksbank (The n Sweden AB Riksbank) (The Riksbank) Riksbank)
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EEA State Competent Applicant CSDs Relevant Authorities Authorities / CSDs (a) Authority (b) CBs in the Union (c) Where relevant, CB (If 2 CAs, the one responsible for issuing the most in the Union in responsible for the oversight of relevant whose books the cooperation with the SSS currencies in cash leg of the SSS other authorities is operated by the which operated by the signaled in bold) CSD in the MS settlement takes CSD is settled whose law place applies to that SSS Iceland The Central Bank N/A In relation to the Nasdaq In relation to Nasdaq In relation to Nasdaq CSD of Iceland CSD SE SSS governed CSD SE – for ISK: SE:The Central Bank of by Icelandic law: The Central Bank of Iceland The Central Bank of Iceland Iceland Liechtenstein Financial Market N/A N/A N/A N/A Authority (FMA)
Norway FINANSTILSYNET Verdipapirsentra Norges Bank (Central For NOK: Norges Bank Norges Bank (Central Bank (The Financial len ASA (VPS) Bank of Norway) (Central Bank of Norway) of Norway) Supervisory (Norwegian authority of Central Norway) Securities Depository)
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