What is a custodian bank?
A custodian bank holds funds and securities in the name of a client. The bank fulfils the legal obligations and duties concerning cash deposits, stocks, bonds and other assets. It is principally responsible for the custody of a client’s securities and must make sure that the distribution, purchase and sale of securities and offerings are done in accordance with the law.
Related Questions
- Can you have the custodian bank or trustee (Wells Fargo and/or Bank of New York) pay the interest payment while MCH is under investigation?
- What is the relationship between the client, the custodian bank and the asset management firm?
- How does the custodian bank (Credit Suisse) communicate with its clients?
