Media Release Granting of Overseas Clearing and Settlement Facility Licence to Clearstream Banking S.A.

Granting of Overseas Clearing and Settlement Facility Licence to Clearstream Banking S.A.

The RBA welcomes ASIC’s decision to grant Clearstream Banking S.A. (Clearstream) a clearing and settlement facility licence.

Clearstream plays an important part in the Australian debt securities market. It is important the RBA and ASIC, as co-regulators of clearing and settlement facilities operating in Australia, are able to have sufficient oversight of such facilities. The licence granted by ASIC will support this oversight.

The RBA has completed an initial licensing assessment of Clearstream against the relevant obligations under Part 7.3 of the Corporations Act 2001. The RBA and ASIC have also entered into a memorandum of understanding with Clearstream’s home regulators, Banque centrale du Luxembourg and the Commission de Surveillance du Secteur Financier. The RBA will rely on the supervision of Clearstream’s home regulators, where appropriate, consistent with the Reserve Bank’s Approach to Supervising and Assessing Clearing and Settlement Facility Licensees.