Acknowledging Refusing Balances

A Settling Bank may refuse to settle on behalf of another client for which it is the designated Settling Bank, in accordance with the processing schedule and other provisions. Each client is responsible to ensure that its net settlement balance, if any, is settled. If a Settling Bank does not settle on behalf of a client, as a result of a refusal to settle or otherwise, the client must make alternative arrangements to make payment to DTC via Fedwire ^®

Example:

A settling bank acknowledges their settlement balance for the brokers/banks that they settle on behalf of in the Settlement Web DTC/NSCC Consolidated Settling Bank Account Statements.

For more information:

• The Settlement Web Help. Refer to the Settlement Statements section.
• The Settlement Service Guide