Information about safekeeping of Customers’ Financial Instruments and funds

The bank custodies the Customers’ securities portfolios in a dematerialised form using authorised electronic accounting system which complies with the general accounting standards. The bank custodies the securities owned by its Customers separately from the securities owned by the bank. In order to ensure accurate accounting of securities transactions and accounts balance, as well as to carry out regular approval procedures of financial instruments corresponding account balances with the depository services providers’ financial instruments accounts, the bank keeps record of the financial instruments.

For the purposes of the Customers’ financial instruments and funds safekeeping, the bank may involve third parties by signing an agreement on custody of financial instruments with such parties, incl. also the nominal accounts opened with such third parties, within which the financial instruments of several Customers are booked. The bank’s liability for actions, or failures to act, of such third parties, or for consequences due to insolvency of such third parties, is stipulated in the applicable normative acts. When buying securities issued abroad, Customers must understand that the safekeeping of such securities is related to an additional risk which concerns the third party in whose keeping the securities are, the possible default or insolvency, as well as the application of foreign law and market practices. With respect to securities and money accounted by third parties registered abroad, and to the respective rights, as well as to the activities and liability of such third parties, the laws and market practice of the respective countries apply, which may differ from the laws and market practice of the Republic of Latvia with respect to securities custody and rights in relation with securities. 

List of correspondent accounts of financial instruments