Euroclear

It is often a common mistake to assume that bank guarantees can be registered on the Euroclear securities database. This simply is not true.

Since Bank Guarantees are a private contract between the Guarantor (Issuing Bank), the Applicant (Bank’s customer) and the Beneficiary or Beneficiary Bank, they are not traded securities. Therefore are not listed on Euroclear. They do not carry CUSIP or ISIN numbers.

This is of course not to be confused with Bank Guarantees issued by Euroclear Bank. See here for more information.