Treasury Services

Useful Information

Below you will find useful information regarding our Treasury Services:

 

Az Erste Bank Hungary Zrt. Pénz- és Tőkepiacok Értékesítése [Financial and Capital Markets] services customers fully in the area of the products below:

  • Forex market services and exchange risk management:
    • FX conversion at individual rates
    • FX Forward and FX swap transactions
    • FX options and structured FX transactions
    • Cross-Currency Interest Rate Swaps (CIRS)
  • Interest Rate Derivatives:
    • Interest Rate Swaps (IRS)
    • Interest Rate Options (Cap and Floor)
    • Forward Rate Agreements (FRA)
  • Investments and liquidity management instruments:
    • Bank deposits with individual rates
    • Money Market line loans
    • Government securities trade
    • Structured investments
    • Investment funds
    • Stocks
  • Investment and Risk Management Consulting

As opposed to Commerzbank, Erste uses two contracts for treasury services:

  • The agreement “General Agreement for Individual Treasury Transactions and Individual Exchange Rate Agreements” authorises clients for FX conversion at individual exchange rates and individually priced deposit transactions.
  • The agreement “General Agreement for Certain Investment Services Transactions” allows clients to carry out derivative transactions, structured investments, and government securities trade.

In the context of the latter contract, the risk-bearing ability of each our future client is identified by the MIFID documentation set forth in the laws and regulations in effect.

Also, the agreement titled “Agreement on Settlement of Treasury Transactions” is established with our customers in which all bank accounts of the client is listed for all relevant currencies to be used for the settlement of treasury transactions.

Both agreements described above will be sent to our Commerzbank customers that have treasury (derivative) limits defined. Customers without treasury limits will receive the first agreement, which is sufficient for FX conversions.

As our future customers, please be advised that Erste Bank offers the opportunity of online FX transactions via our NetTrader system for conversions, futures FX transactions and FX swaps, but a sperate contract must be established in this context, regardless of the agreements described above. If you only want to make FX conversion transactions and online only, then signing this contract with its appendices will suffice, and the agreements described above are not required. If you also want to make futures transactions via the system, then the agreement “General Agreement for Certain Investment Services Transactions” and the MIFID documentation are also required.

As another advantage of the system in addition to providing ease access and speed, it offers the option to make conversions and futures FX transactions from as low as EUR 5,000 with extremely favourable FX rates.

In respect of the settlement of treasury transactions, the following course of actions are taken:

  • If you already have established the “Agreement on Settlement of Treasury Transactions” contract with us, the futures FX transactions that were established with Commerzbank but mature after the migration date will be settled in the bank account defined in this contract.
  • If you have no bank account with us or your Commerzbank accounts will be transferred to Erste and you want your treasury transaction settled in your Commerzbank accounts, then you should define the bank account that is being managed by Commerzbank and migrated to Erste Bank in the “Agreement on Settlement of Treasury Transactions”.

Information regarding transactions:

Customers may carry out treasury transactions with Commerzbank up to 30th November 2022 with the conditions below:

  • Conversions with individual rates may only be executed on 30th November 2022 for T-day, notably 30th November 2022 value day.
  • FX conversions with individual rates may only be executed on 29th November 2022 for T+1 day (30 November 2022) and T day (29th November 2022), while on prior dates all three value dates are available, as usual.
  • Commerzbank clients may carry out futures FX transactions with Commerzbank up to the date if migration, with the limitation that said transactions may not mature on 1st December 2022 or 2nd December 2022.

If you have any questions, do not hesitate to contact our Pénz- és Tőkepiacok Vállalati Értékesítés [Financial and Capital Markets Corporate Sales] team:

E-mail: MLEBHTreasuryCorporateSales@erstebank.hu

Phone: +36 1 237 8200

To-do List Regarding Treasury Services

Your contract will be mailed to you. If you consent to the documents, then

  1. check all data in the contract
  2. if you find empty data fields (e.g., personal data of cardholder / type and number of documents) fill them out and affix your signature
  3.  affix your signature at the indicated places (as account holder affix your authorised signature with the name of the signatory stated clearly in block capitals)
  4. affix your initials on every page
  5. two original copies shall be returned until 4th November 2022 at the latest to the address below:

Erste Bank Hungary Zrt.
KKV MID-OFFICE
1138 Budapest, Népfürdő u. 24-26.

Please, make sure that the documents are signed by the signatory registered with Commerzbank as the person authorised to sign such documents. Your services cannot go online in case the ID document of the bankcard holder authorised as signatory or any other person signing the contract, as registered with Commerzbank, has expired. If you have ID documents that expire in the near future, please visit Commerzbank to register a valid ID for identification.

If you have: Cross-Border Cash Pool Service, or any EBICS service, then you will be contacted shortly by our colleagues in the matter of renewing your contracting.

The contracts are mailed in encrypted format, and the code/password for decryption is:

The first 10 (ten) digits of your company’s Commerzbank customer ID which begins with 134 (listed in the account statement)

(In case you have multiple customer IDs, then the smaller number)

In case of contracts received after the deadline or signed inadequately, the service is not guaranteed to be provided as of the day of transfer (1st December).

Please, be advised that the new bankcards will be mailed to cardholders simultaneously to mailing the new bankcard contracts. The cards, however, are inactive and could only be activated following the portfolio transfer when the associated bankcard contract has been signed duly by the cardholder as described above and retuned before the deadline.

Ha kérdése akad, kérjük keresse fel az EBHKKV@erstebank.hu e-mail címen kollégáinkat. Kollégáink várhatóan 2-3 órán belül, de maximum 24 órán belül mindenképpen visszahívják Önt, vagy küldenek írásos választ, annak megfelelően, ahogyan Ön a levelében ezt megjelöli!