Sentences with custodian bank
cus·to·di·an bank
C c - The sponsor of these certificates or receipts typically purchases and deposits the securities in an irrevocable trust or custodial account with a custodian bank.An amount of cash must be deposited with the broker as initial margin as a good faith deposit, and is generally maintained in a segregated account at the custodian bank.A custodian bank is a bank that holds customer assets in safety.