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Depositary bank

Depositary bank Definition

In relation to American Depositary Receipts (or ADRs), a Depositary bank is a U.S. bank that issues Depositary Receipts upon request from its local custodian bank in a foreign home stock market to issue ADRs representing a certain number of shares to be traded in an American stock market. The depositary bank has numerous responsibilities to the holders of ADRs and to the non-U.S. company the ADRs represent.

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