Depository bank

 

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Depository bank

A 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 Matches

Depository institution

Depository institution

A financial institution that obtains its funds mainly through deposits from the public. This includes commercial banks, savings and loan associations, savings banks and credit unions. Although historically they have broadened their powers in recent years. For example, NOW accounts, credit union share drafts and other services similar to checking accounts may be offered by thrift institutions.


Depository Trust Company

Depository Trust Company

In 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.


American Depository Receipt Fees

American Depository Receipt Fees

Fees associated with the creating or releasing of ADRs from ordinary shares, charged by the commercial banks with correspondent banks in the international sites.


MBS depository

MBS depository

A book-entry depository for GNMA securities. The depository was initially operated by MBSCC and is now a separately incorporated, participant-owned, limited-purpose trust company organized under the State of New York Banking Law.


Depository transfer check (DTC)

Depository transfer check (DTC)

Check made out directly by a local bank to a particular firm or person.


Further Suggestions

Electronic depository transfers
Depository receipt
Depository Institutions Deregulation and Monetary Control Act
American Depository Receipt Ratio
International Depository Receipt (IDR)
Global Depository Receipt
American Depository Share (ADS)
Depository preferred


 
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