International Depository Receipt

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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).

International Depository Receipt

A certificate issued by a bank representing shares of a stock the bank holds in trust but that are traded on a foreign stock exchange. The IDR is denominated in the local currency, and entitles the bearer to any dividends and other benefits associated with the shares. IDRs can be traded like any other security. Using IDRs shields the investor from foreign exchange risk and any applicable tariffs he/she would have had to pay if he/she had bought the stock outright. It also exempts the investor from any requirements the foreign exchange might have levied. It is also known as a global depository receipt (GDR). See also: American Depository Receipt.
References in periodicals archive ?
The banks' Foreign-Currency IDRs are capped by Russia's Country Ceiling (BBB-), which reflects the probability of transfer and convertibility restrictions, and the risk the subsidiaries may not be able to benefit from parent support to service their foreign-currency obligations.
With IDRS on-board, the satellite operators will have access to on-demand, 24/7, near real-time, two-way IP-based links to all its assets.
Emerging markets (EMs) dominated the IDR changes with 57 downgrades and eight upgrades, compared with 14 downgrades and 13 upgrades in developed markets (DMs).
The outcomes are expressed in percentages based on low, medium, and high risk of developing diabetes using the IDRS risk score.
MRD has no ownership interest in MEMP's outstanding common units, IDRs or general partner interest.
The affirmation of HB's Long-term IDRs and senior debt ratings at 'BB' reflects limited recent changes to the bank's standalone credit profile.
Conversion of shares into IDRs under the Fungibility Programme remains available on a continuous basis, the bank added.
AUB's IDRs and support rating reflect the high probability of support from its core shareholder with an 18.5pc stake in the bank, the public institution for social security (PIfSS), an arm of Kuwait (''/Stable).
The BSW and WBP are linked by a common management team, sharing functions such as treasury and risk management, which according to Fitch contributes to alignment of IDRs and VR.
The agency Fitch affirmed all three banks' Short-term IDRs at 'B'.
NBB's IDRs are in line with the Bahraini sovereign and reflect the extremely high probability that it would be supported by the Bahraini authorities based on its leading status in the domestic market and the government of Bahrain's 49pc direct ownership in the bank.