Custody Services
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Custody services provided by a bank typically include the settlement, safekeeping, and reporting of customers' marketable securities and cash. Securities lending can allow a customer to make additional income on custody assets by loaning securities to approved borrowers on a short-term basis.
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Custody Services (Comptroller's Handbook, January 2002)
Addresses the fundamentals of securities custody and related services and provides examiner guidance for those activities
References
- OCC Interpretive Letter 1078, "Custody Trust Ledger Deposit Account Program" (April 19, 2007)
- OCC Interpretive Letter 1066, "Risk-Based Capital Treatment for Certain Securities Lending Transactions" (November 8, 2005)
- OCC Interpretive Letter 1026, "Securities Conduit Lending Services" (April 27, 2005)
- OCC Bulletin 2002-39, "Investment Portfolio Credit Risks: Safekeeping Arrangements" (October 16, 2002)
- Banking Circular 196, "FFIEC Supervisory Policy—Securities Lending" (May 7, 1985)
- Banking Circular 275, "Free Riding in Custody Accounts" (September 3, 1993)
Related News and Issuances
| Date | ID | Title |
|---|---|---|
| 05/20/2020 | OCC 2020-53 | Revisions to the Supplementary Leverage Ratio for Custodial Banking Organizations and Custody Banks: Final Rule |
| 04/29/2019 | OCC 2019-21 | Fiduciary Regulations; Non-Fiduciary Custody Activities: Advance Notice of Proposed Rulemaking |
| 09/01/2017 | NR 2017-101 | Agencies Issue Notice of Proposed Rulemaking to Shorten Settlement Cycle |