Depositary bank

(redirected from Depositary Banks)

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 ?
BNP Paribas stated that it is one of Europe's biggest depositary banks with a network covering 12 fund domiciles and holding 900 billion of assets under depositary.
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.
BNP Paribas is one of Europe s largest depositary banks with a network covering 12 fund domiciles and holding EUR 900 billion of assets under depositary.
Under the AIFMD, which came into effect on July 22nd of this year, non-UCITS funds in Europe must appoint a depositary bank such as BNP Paribas Securities Services for cash monitoring, oversight and safekeeping of assets.
BNP Paribas Securities Services, a leading global custodian and one of the largest depositary banks in Europe, today announced that it has been selected by Antin Infrastructure Partners (Antin IP) to act as depositary bank for the Antin Infrastructure Partners II fund, in accordance with the Alternative Investment Fund Managers Directive (AIFMD).
This launch also testifies to the solid partnership between BNP Paribas and Antin IP since BNP Paribas was appointed as depositary bank for the original Antin Infrastructure Partners fund.
Gilliane Philip-Courtines, Head of Institutional Client Relations France, at BNP Paribas Securities Services, said: We are delighted to have been chosen as depositary bank by Antin IP and to extend our partnership to its second fund.
Clearstream s Domestic Markets Monitoring Report will support depositary banks in managing their new obligations as stipulated by regulations such as the Alternative Investment Fund Manager Directive (AIFMD).
The directive directly affects depositary banks offering custody services on behalf of alternative investment funds.
Banco Popular is one of Spain s largest depositary banks with 13 billion in assets held under depositary, comprising investment funds, pension funds and Sicavs managed by Allianz Popular and Popular Banca Privada, as well as EPSVs, which are Basque pension plans.
BNP Paribas is one of Europe s largest depositary banks with around EUR 900 billion in assets under depositary.
Under the Alternative Investment Fund Managers Directive (AIFMD) which came into effect in July 2013, all non-UCITS and alternative investment funds in Europe must appoint a depositary bank to provide safekeeping, cash monitoring, and oversight of assets.