Depositary bank

Depositary Bank

A bank that keeps assets or securities on behalf of a client. All retail banks are depositary banks, because they hold money for account holders.

Depositary bank.

A US bank that holds American depositary shares (ADSs), or shares of corporations based outside the United States, and sells American depositary receipts (ADRs) to US investors is called a depositary bank.

Each ADR represents a specific number of ADSs, based on the bank's agreement with the issuing corporation. The depositary bank ensures that investors receive dividends and capital gains and handles tax payments that may be due in the country where the share-issuing company is headquartered.

References in periodicals archive ?
BPMs depositary bank has around EUR 22 billion in assets under custody and provides custody, fund administration and depositary banking services to funds and institutional clients in Italy.
Global Banking News-October 2, 2017--Citi named depositary bank for Zai Lab's sponsored ADR programme
M2 EQUITYBITES-November 25, 2014--Deutsche Bank picked by ThyssenKrupp as ADR programme depositary bank
BANKING AND CREDIT NEWS-November 25, 2014--Deutsche Bank picked by ThyssenKrupp as ADR programme depositary bank
11 May 2011 - US investment bank Citigroup (NYSE:C) said that its Global Transaction Services unit would act as depositary bank for Chinese social networking Internet platform operator Renren (NYSE:RENN).
Global Banking News-December 23, 2010--JP Morgan appointed depositary bank by ShangPharma(C)2010 ENPublishing - http://www.
New York, as depositary bank, has announced that Grupo Industrial Saltillo, S.
For example, investors who want to own Volvo shares need not purchase Swedish securities but, instead, can buy Volvo ADRs--certificates that represent ownership of Volvo shares held by a depositary bank.
JPMorgan is a premier provider of Depositary Receipt Services, and is the sole depositary bank for the largest-ever DR initial public offering in the history of the industry.
Global Banking News-September 4, 2017--Deutsche Bank named depositary bank for Micro Focus International's ADR programme
Under the AIFMD, which came into effect on July 22 of this year, non-Ucits funds in Europe must select a depositary bank for cash monitoring, oversight and safekeeping of assets.
M2 EQUITYBITES-May 22, 2013-BNY Mellon named depositary bank by Japanese firm(C)2013 M2 COMMUNICATIONS http://www.