Penalties calendar

The European Central Securities Depositories Association (ECSDA) issues the 2025 and 2026 calendars, which can be found below.

Penalty Calendar 2025

On the calendar, you will find highlighted the key dates of the penalties life cycle as follows:

End of appeal period: 10th PBD (Penalty Business Day)
Monthly report: 14th PBD
Payment date: 18th PBD 

* Appeals need to be raised in due time prior to the end of appeal in order to be processed.

** Monthly report is moved to 13th PBD as 18 April 2025 is a T2S closing day.

Penalty Calendar 2026

On the calendar, you will find highlighted the key dates of the penalties life cycle as follows:

End of appeal period: 10th PBD (Penalty Business Day)

 - Appeals need to be raised in due time prior to the end of appeal in order to be processed.

Monthly report: 14th PBD

Payment date: 18th PBD