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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 MatchesAmerican Depository Share (ADS)American Depository Share (ADS)Foreign stock issued in the US and registered in the ADR system. 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. Depository receiptDepository receiptSee: ADR American Depository Receipt Depository Institutions Deregulation and Monetary Control ActDepository Institutions Deregulation and Monetary Control ActThe 1980 federal legislation that ended the regulation of the banking industry. Global Depository ReceiptGlobal Depository ReceiptA receipt denoting ownership of foreign-based corporation stock shares which are traded in numerous capital markets around the world. Further SuggestionsMBS depositoryInternational Depository Receipt (IDR) Depository transfer check (DTC) American Depository Receipt Ratio Depository institution American Depository Receipt Fees Electronic depository transfers Depository preferred |
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