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Local custodian bank

Local custodian bank Definition

In relation to American Depositary Receipts (ADRs), a local custodian bank is a bank in a country foreign to the United States that holds the corresponding amount of shares of stock trading on the home stock market represented by an ADR trading in the U.S. This bank acts as custodian for the depositary bank that issues the ADRs in the U.S. stock market.

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