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Treasury Service

We are the only Chinese bank in the U.S. with securities custodian capacity and capability. We have been serving customers in this business for over 20 years and have accumulated great experience. We are a member of Federal Reserve Securities Clearing System and maintain a direct account with the Federal Reserve Bank for securities custodian business and clearing. We can provide custodian and clearing services for all kinds of U.S. securities, including securities cleared through the Federal Reserve Bank, such as the U.S. treasury, U.S. agency and ABS/MBS securities and DTC securities through JP Morgan Chase.

We have a fully automated securities clearing system. When customers send security delivery instructions by SWIFT, they can be directly fed into our GPS. Then GPS converts the instructions into FED format and sends them to the FED securities clearing system on a real-time basis to complete the process. In recent years, the FED and other US supervisory authorities conducted all-inclusive assessments of the clearing members in respect to their computer systems, business policy and procedures and management, and we have met all the requirements.

Our security custodian and clearing services have the following characteristics and advantages:

·         Custodian service for all U.S .securities

Safekeeping all U.S. securities in customers’ custodian account, providing account statements, registration, regulatory reports, tax exempt services and other consulting services.

·         Coupons and principal receipts

Collecting coupons and principal payments from securities issuers and credit the proceeds to customers’ US dollar accounts with us.

·         Securities delivery and account transfer

Based on customer’s instructions, we effect securities delivery to and from customer’s account and handle the payments of the proceeds to customer’s U.S. dollar account. When opening a custodian account, the customer should open a U.S. dollar cash account. All proceeds from securities related transactions are processed through this cash account, which can be used as a U.S. dollar clearing account other than for securities proceeds.

·         Securities related enquiries and emergency service

We designate special customer account managers to deal with customer inquiries and emergencies on a 24-hours basis. The account managers speak mandarin, an added convenience for Chinese customers. Under special arrangements, our account managers will contact customers’ authorized person by phone to deal with any problems. Customers can modify delivery instructions by phone during the nighttime. These arrangements will also ensure the timely delivery of the securities. This is a unique service that other institutions do not provide.

·         Security lending

We can enhance the return of the portfolio under our custody by optional repos and other investment vehicles authorized by customers.

·         Foreign currency exchange services

We can provide such service with competitive pricing. We can also assist institutional customers in NDF (Non Deliverable Forward) trading for Chinese Currency CNY.

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