The bank states that after 6 September 2022 either party can terminate the transaction without penalty and says that despite a review of the deal, “there can be no assurance as to the timing or outcome of that review”.

The custodian’s AUC/A fell 5% from Q1 to $43 trillion, primarily reflecting lower market values and the impact of a stronger US dollar.

The decline representing around $3 trillion, was revealed in the bank’s Q2 quarterly earnings.

New project said to resolve industry pain points and risks by eradicating reconciliation breaks and resulting settlement failures.

New appointment will work across the full GC product suite, including print, digital, research and corporate subscriptions.

Executive had spent nine years at State Street before departing in January and now joins front-to-back portfolio management support outfit.

French bank wins custody deal for €1.2 billion of assets in its latest European mandate.

New consultation paper on CSDR proposes that CSDs would be able to collect and distribute penalties for cleared transactions.