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Depository bank |
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Depository bankA bank organised in the US which provides all the stock transfer and agency services in connection with a depository receipt program. This function includes arranging for a custodian to accept deposits of ordinary shares, issuing the negotiable receipts which back up the shares, maintaining the register of holders to reflect all transfers and exchanges, and distributing dividends in US dollars.Similar MatchesGlobal Depository ReceiptGlobal Depository ReceiptA receipt denoting ownership of foreign-based corporation stock shares which are traded in numerous capital markets around the world. Depository Institutions Deregulation and Monetary Control ActDepository Institutions Deregulation and Monetary Control ActThe 1980 federal legislation that ended the regulation of the banking industry. Depository receiptDepository receiptSee: ADR American Depository Receipt Depository Trust CompanyDepository Trust CompanyIn the US, the Depository Trust Company (DTC) is a national clearing house for the settlement of trade in corporate and municipal securities and performs securities custody-related services for its participating banks and broker-dealers. DTC is owned by members of the financial industry and by their representatives who are its users. DTC is 35.1% owned by the New York Stock Exchange on behalf of the Exchange's members. It is operated by a separate management and has an independent board of directors. It is a limited purpose trust company and is a member of the Federal Reserve. International Depository Receipt (IDR)International Depository Receipt (IDR)A receipt issued by a bank as evidence of ownership of one or more shares of the underlying stock of a foreign corporation that the bank holds in trust. The advantage of the IDR structure is that the corporation does not have to comply with all the issuing requirements of the foreign country where the stock is to be traded. The US version of the IDR is the American Depository Receipt (ADR). Further SuggestionsDepository transfer check (DTC)Depository institution MBS depository Depository preferred Electronic depository transfers American Depository Share (ADS) American Depository Receipt Fees American Depository Receipt Ratio |
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