Securities Lending and Borrowing Agreement Between Bank and Pt

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					                                    Overview of CSDs and Clearing Orgaizations As of July 31, 2004                                                               1

                        Austraclear Limited, Australia               ASX Settlement & Transfer Corp. Ltd.                Central Depository Bangladesh Depository
Member CSDs
                        (Austraclear)                                (ASTC)                                              Limited (CDBL)
Country/region          Australia                                    Australia                                           Bangladesh

Capital (in US$ )       US$ 500 million                              US$ 15 million                                      US$ 5 million

                                                                                                                         Asian Development Bank 9%, Stock Exchanges
                                                                                                                         (2) 4%, Foreign Banks (6) 12%, Local Banks
Shareholders            SFE Corporation 100%                         Australian Stock Exchange 100%                      (35) 51%, Insurance Companies (17) 9%,
                                                                                                                         Publicly Listed Companies (19) 10%, Other
                                                                                                                         Financial Institutions (5) 5%; Total: 85




Types and number of Total: approximately 800 (Banks, Non-bank        Total; approximately145 (Direct participation by
                                                                                                                      Brokers 72 Banks 6 Stock Exchanges 2
Participants        Financial Institutions and Corporate Entities)   individual investors: 1.2million investors)




                                                                     ASX/ASTC operates a name on register                Electronic Book Entry Settlement Services for
                                                                     system rather than a depository. About 78% by       securities listed on stock exchanges and
                                                                     value of ASX quoted securities are held on the      Bangladesh Government issues of Treasury Bills
Range of Services       Austraclear provides Depository and Clearing
                                                                     CHESS subregisters that are maintained by           and Bonds Investors securities accounts
Provided                and Settlement System.
                                                                     ASTC. Services include: clearing of broker-to-      Deposit and withdrawal Corporate Action :
                                                                     broker transactions via a central counterparty,     distribution of non cash benefits IPO distribution
                                                                     DvP settlement, transfers and registration.         to allotees Pledge/Unpledge & Confiscate


                        Bonds of various types (all issuers i.e.
                        government, semi government and corporate) Listed Stocks, ETF, Corporate Straight Bonds, Stock Exchange Listed Securities, Government
Eligible Securities
                        and Short Dated Discount Securities (all   Corporate Convertible Bonds and Warrants      Bonds and Treasury Bills
                        issuers), traded OTC



                                                                                                                         US$ 3,131 million (Aug 30, 2004) Treasury Bills
Value of Securities in
                       US$ 338 billion                               US$ 470 billion                                     2,707 Govt. Treasury Bonds 79 Listed Securities
Custody (US$)
                                                                                                                         345




Amount of Cash                                                       US$ 440 billion (over the 12 months to 30 June
                        n.a.                                                                                        n.a.
Settled (in US$)                                                     2004)

Percentage of
                                                                                                                         100% of Govt. Treasury Bills 100% of Govt.
Securities                                                           Securities of Australian domiciled issuers
                     95%dematerialized                                                                                   Treasury Bonds issued after Dec 28, 2003 17%
Immobilized/Demateri                                                 traded on ASX are 100% dematerialized
                                                                                                                         of 29 Securities so far in the CSD dematerialized
alized



Memorandum of
                                                                     Cross border settlement agreement with the
Understanding /
                   n.a.                                              Central Depository (PTE) Ltd of Singapore,     none
Business Agreement
                                                                     covering a service initiated in December 2001.
(Date)



                        Operating revenue; US$ 71.08million,                                                             CDBL commenced operations on Jan 24, 2004.
                                                                     Total operating revenue; US$ 39.4 million
Total Revenue /         Expenses US$ 34.4 million Operating Profit                                                       Figures of un-audited accounts for the year
                                                                     Operating expenses; US$ 31.7million Income
Expenses and Net        before Tax; US$ 39.1 million Operating                                                           ended 30th June 2004 are as follows:US$ Total
                                                                     tax expense; US$ 2.0 million [Figures for 12
Income (in US$)         (Loss)/ Profit after Income Tax; US$                                                             Revenue 220,000 Expenses 834,000 Net Loss
                                                                     months ended 30 June 2003]
                        27.16million                                                                                     614,000
                                                                     Total; 54staff Systems development, 19,
                                                                     Settlement operations; 12, Legal and                Total: 29 staff System Operation: 6 Participant
Number of Officers                                                   regulation; 10; Participant services; 6, Business   Support: 8 Business Development: 5 Finance
                        Approx 200 staff
and Employees                                                        Development; 6, Managing Directors; 1 Note          and Administration:8 Legal and Compliance: 1
                                                                     that a number of essential functions are            Managing Director: 1
                                                                     outsourced.
                        Australian Stock Exchange (ASX), ASX         Australian Stock Exchange (ASX), ASX
                        Derivatives Market, Sydney Futures           Derivatives Market, Sydney Futures Exchange,        Dhaka Stock Exchange Ltd. (DSE) Chittagong
Stock Exchanges
                        Exchange, Newcastle Stock Exchange,          Newcastle Stock Exchange, Bendigo Stock             Stock Exchange Ltd. (CSE)
                        Bendigo Stock Exchange                       Exchange


Market Capitalization Market capitalization; N/A Trading volume;   Market capitalization; US$ 600 billion (as at 30 Market Capitalization of Listed Securities US$
/ Trading Volume (in N/A Market value of the deposited securities; June 2004) Trading volume; US$ 440 billion       2.5 billion Daily trading volume around US$ 6
US$)                  US$ 260 billion                              (for 12 months to 30 June 2004).                 million (August 2004)



                        T+3 (Corporate Bond on OTC) T+3              T+3 (Stocks) T+3 (Corporate Bond traded on          T+5 (A, B, G Shares) T+7 (Z Shares) T+ 2
Settlement Period
                        (Government Bond on OTC)                     ASX)                                                (Government Securities)

Other CSDs or                                                                                                            Bangladesh Bank is the Clearing House for
Clearing                n.a.                                         n.a.                                                Govt. Securities Stock Exchanges act as
Organizations                                                                                                            Clearing Houses for Listed Securities
                                 Overview of CSDs and Clearing Orgaizations As of July 31, 2004                                                                2

                        Hong Kong Securities Clearing Company                                                           National Securities Depository Limited
Member CSDs                                                             Hong Kong Monetary Authority (HKMA)
                        Ltd. (HKSCC)                                                                                    India (NSDL)
Country/region          Hong Kong                                       Hong Kong                                       India

Capital (in US$ )       HKEx:US$134.49million                           n.a                                             US$ 17.39 million


                                                                                                                        Stock exchange 15.62%, Mutual fund 27.80%,
                        Hong Kong Exchange and Clearing Limited         Hong Kong Special Administrative Region
Shareholders                                                                                                            Participants 26.58%, Other financial institutions
                        (HKEx) 100%                                     Government
                                                                                                                        30% Total: 12




Types and number of Market Intermediaries: 489, and Investor            Recognized Dealers: 153, and•@ CMU Members No of Participants : 216•@ Types : Banks, Stock
Participants        Participants: 13,684                                : 172 (data as of 27 Sep 04)               Brokers, Financial Institutions and Custodians.




                                                                        The Central Moneymarkets Unit Processor
                                                                        (CMUP) offers; Real-time/End-of-Day
                        securities clearing and settlement service,                                                     Dematerialization, Rematerialization, Custody,
                                                                        DvP/Free of Payment (FoP) Securities
Range of Services       electronic money settlement services,                                                           Transfer, Pledging,•@ Stock Lending &
                                                                        Transfer, Tender and Allotment service,
Provided                depository services, common nominee                                                             Borrowing and distribution of Corporate
                                                                        Collateral Management (e.g. Intra-
                        services, stock borrowing and lending services.                                                 Benefits (non-cash).
                                                                        day/Overnight Repo, etc.), Securities Lending
                                                                        and Paying Agent services


                                                                                                                        Equity, Corporate Debt, Commercial Paper,
                        Listed Stocks, ETF, Government Bonds,           Debt instruments issued by HK Government,
                                                                                                                        Mutual Fund Units, Government Securities,
Eligible Securities     Corporate Convertible Bonds, Unit Trust,        Debt instruments issued by private sector
                                                                                                                        Securitised Instruments and Certificate of
                        Foreign Securities, Equity linked Notes         issuers including floating, fix rate CD, CP
                                                                                                                        Deposits



Value of Securities in
                       US$ 257 billion (July 31,2004)                   US$ 45.5 billion ( 31 July 2004)                US$ 245 billion as on September 30, 2004
Custody (US$)




                        Exchange trades: US$ 170.24 billion Non-
Amount of Cash
                        Exchange Trades: US$ 790.41 billion(over the US$ 518 billion                                    n.a.
Settled (in US$)
                        12 months to June 30 2004)Exchange trades:
Percentage of                                                           100%: Debt instruments issued by public
                     33.58% in terms of market capitalization and
Securities                                                              corporations are dematerialized, and Debt       56 % dematerialized as on September 30,
                     58.28% in terms of issued shares of eligible
Immobilized/Demateri                                                    instruments issued by private sector issuers    2004
                     securities immobilized
alized                                                                  are immobilized in global note form

                                                                        Bilateral agreement with Reserve Bank of New
                                                                        Zealand, , Korean Securities Depository,
Memorandum of
                                                                        Euroclear and Clearstream. Banking
Understanding /    MOU with China Securities Depository and
                                                                        Unilateral agreement with Reserve Bank of    n.a.
Business Agreement Clearing Corporation.
                                                                        Australia, Austraclear Limited, and China
(Date)
                                                                        Government Securities Depository Trust &
                                                                        Clearing


                        HKEx's unaudited financial information as at
Total Revenue /                                                                                                         Total revenue; US $ 20.61 million•@ Total
                        half-year ended June 2004: Operating income: CMU is a business service unit within HKMA,
Expenses and Net                                                                                                        expenses; US $9.5 million•@ ( For FY 2003-
                        HK$1,167 million (US$150million) Operating   no separate financial account for CMU
Income (in US$)                                                                                                         2004)
                        expenses: HK$566 million (US$73million)



Number of Officers      Around 100 staff involves in the operation of   Total 10 CMU staff (exclude IT-support staff
                                                                                                                        Total; About 225 staff
and Employees           HKSCC.                                          from HKICL)




Stock Exchanges         The Stock Exchange of Hong Kong Limited.        The Stock Exchange of Hong Kong Limited.        23 stock exchanges.




                      Market capitalization as at end of July 2004:     Nominal value of deposited securities: USD
Market Capitalization                                                                                                   Data as on 30/09/2004•@ Market capitalization ;
                      HK\$5,959 billion (US$764 billion) Daily          45.50 billion (as at end July 2004)•@ Daily
/ Trading Volume (in                                                                                                    US $ 292.60 billion•@ Dematerialised securities :
                      average trading volume of July 2004 :             average trading volume of July 2004 :
US$)                                                                                                                    US $ 245.15 billion
                      HK$10.76 billion (US$1.38 billion)                HKD16.25 billion (USD2.08 billion)


                        T+2 (Stocks) T+2 (Corporate Bond) T+2           T+2 (Corporate Bond) T+ 0 to T+1                T+2 (Stocks) T+ 2(Corporate Bond) T+ 2
Settlement Period
                        (Government Bond)                               (Government Bond)                               (Government Bond)

Other CSDs or
Clearing                n.a                                             n.a                                                                                             1
Organizations
                                Overview of CSDs and Clearing Orgaizations As of July 31, 2004                                                                         3

                       National Securities Clearing Corporation            Central Depository Services (India) Limited
Member CSDs                                                                                                                     PT Kustodian Sentral Efek Indonesia (KSEI)
                       Ltd. (NSCCL)                                        (CDSL)
Country/region         India                                               India                                                Indonesia

Capital (in US$ )      US$ 2.17 million                                    US$ 23.6 million                                     US$ 3.53 million


                                                                           Banks (9) 55.98%, Stock Exchanges (2)                Custodian banks : 36%; Securities Companies
Shareholders           National Stock Exchange of India Ltd. 100%          44.02%, Other Participants (4) 0.0008% Total:        33.5%; Stock exchange 9%; Clearing Corp.
                                                                           15                                                   7.5%; Registrars 4%; KSEI 10% Total: 48




                                                                                                                                Total: Brokers : 165, custodian banks : 18
                                                                           Brokers:193, Banks: 24, Custodians: 11               Participants may open sub accounts to
Types and number of Trading Members: 872 Clearing Banks: 8
                                                                           Clearing House: 10 Total: 241 Individual             segregate the assets of their portfolio and its
Participants        Custodians: 11
                                                                           Investors: 705,667                                   clients: with KSEI; 87,000 sub accounts as of
                                                                                                                                July 2004.



                                                                      Pledge, Auto delivery to stock exchanges, Beneficial
                                                                      Owner (BO) level pay-in (where securities are debited
                                                                      to the account of the BO on the pay-in time, instead of   Electronic Book Entry Settlement services,
                       Clearing and Settlement of all trades executed routing securities through the clearing members           depository & withdrawal services, Corporate
Range of Services
                       on NSE Equity Market segment and Futures & account), Distribution of non-cash corporate benefits,        Action electronic distributions, securities
Provided                                                              Distribution of securities to allotees in case of IPOs,
                       Options segment                                                                                          accounts/sub accounts services, post trade
                                                                      Internet based services for clearing members, BOs         processing, safekeeping, securities registration
                                                                      and collection centers of participants. Maintaining
                                                                      holding and transaction details in Electric forms.


                                                                           Listed Stocks, ETF, Government Bonds,
                       Trades of stocks, Government Bonds and                                                                   Listed Stocks, Corporate Straight Bonds,
                                                                           Corporate Straight Bonds, Corporate
Eligible Securities    corporate bonds in the exchange market are                                                               Corporate Money Market Instruments and
                                                                           Convertible Bonds, CP, Postal Certificates,
                       settled at NSCCL                                                                                         Syariah (Islamic) Bonds
                                                                           Units of Mutual Funds



Value of Securities in
                       n.a.                                                US$ 19.19 billion                                    US$ 37.70 billion
Custody (US$)




Amount of Cash         Cash segment: U.S. $14,011.06 million
                                                                           n.a.                                                 US$ 244 million (daily base)
Settled (in US$)       Derivatives segment: U.S. $1,605.34 million

Percentage of
Securities
                     n.a.                                                  7.80% dematerialized                                 54% dematerialized
Immobilized/Demateri
alized



Memorandum of
Understanding /                                                                                                                 Singapore Stock Exchange : Memorandum of
                   n.a.                                                    n.a.
Business Agreement                                                                                                              Understanding : Cross Border Settlement
(Date)




                                                                                                                                As per December 2003 ( In thousand) Total
Total Revenue /                                                            Total Revenue – US$ 6.24 million Total
                       Revenue - $ 13.49 million Expenses - $ 5.60                                                              Revenue :IDR 55,223,000 Total Operating
Expenses and Net                                                           Expenses – US$ 2.55 million (For the year
                       million. Net Income - $ 7.88 million                                                                     Expenses : IDR 38,900,000 Net Income : IDR
Income (in US$)                                                            2003-2004)
                                                                                                                                11,145,000



Number of Officers
                       Total: 69 staff                                     Total 105 staff                                      Total; 74 staff
and Employees



                       National Stock Exchange – Capital Market
                                                                                                                                Jakarta Stock Exchange (JSX) Surabaya
Stock Exchanges        segment and Futures and Options segment             17 stock Exchanges
                                                                                                                                Stock Exchange (SSX)
                       Over the Counter Exchange


                                                                                                                                Trading volume; 1,782 million shares /daily
Market Capitalization M Cap - $ 158,000 million (Indian Rupees                                                                  average trading value; US$ 70 million/ daily
                                                                           Market Capitalization –US$ 245,798 million
/ Trading Volume (in 726682 crores) Volumes - $ 1,000 million.                                                                  average Book Entry Settlement : Volume : 61
                                                                           Dematerialized securities – US$ 19,196 million
US$)                  Everyday (Indian Rupees 5,000 crores)                                                                     billion shares/daily average Value : US$ 107
                                                                                                                                million

                       T+2 (Stocks) T+ 2(Corporate Bond) T+ 2              T+2 (Stocks) T+ 2(Corporate Bond) T+ 2               T+3 (Stocks) T+2 (Corporate Bond) T+3
Settlement Period
                       (Government Bond)                                   (Government Bond)                                    ()Government Bond

Other CSDs or
Clearing                                                               1                                                    1 n.a
Organizations
                                 Overview of CSDs and Clearing Orgaizations As of July 31, 2004                                                                   4

                        Indonesia Clearing & Guarantee                Japan Securities Depository Center, Inc. Japan Securities Settlement and Custody Inc.
Member CSDs
                        Corporation (KPEI)                            (JASDEC)                                 (JSSC)
Country/region          Indonesia                                     Japan                                           Japan
                        Authorized capital US$ 6.5 million, paid up
Capital (in US$ )                                                     US$ 40.2 million                                US$ 2.5 million
                        capital US $ 1.6 million
                                                                      Total 193 Tokyo Stock Exchange Inc.
                                                                      (22.01%) Japan Securities Dealers
                        Jakarta Stock Exchange 90% Surabaya
Shareholders                                                          Association (12.00%) Nomura Holdings     Tokyo Stock Exchange, Inc. 100%
                        Stock Exchange 10 %
                                                                      (5.70%) The Bank of Tokyo-Mistubishi,Ltd
                                                                      (5.00%) Mizuho Coprate Bank,Ltd (5.00%)



                                                                      Total 275 Securities companies 205, Banks
Types and number of                                                   45, Stock Excahges and others 15,
                    Total: 141                                                                                  Total: 196
Participants                                                          Insurance Companies 7, Securities finace
                                                                      Companies 3




                                                                      JASDEC’s functions are safe custody
                                                                                                                      Clearing function is provided by Japan Securities
                                                                      service, book-entry transfer service,
Range of Services                                                                                                     Clearing Corporation(JSCC). JSSC provides safe
                        n.a.                                          handling physical movements (deposit,
Provided                                                                                                              custody services, book-entry transfer for
                                                                      withdrawal) and corporate actions. Income
                                                                                                                      settlement and handling of corporate actions
                                                                      collection service for CBs



                        Trades of stocks and Derivative, in the
                                                                      Stocks, ETF, REIT, Preferred Investment
                        exchange market are settled at KPEI.                                                          Foreign Stocks, Samurai Bond, Corporate Bonds
Eligible Securities                                                   Securities, Convertible Bonds, Commercial
                        Government and corporate bonds are in the                                                     Convertible Bonds (non-JASDEC eligible)
                                                                      Paper
                        development stage to be cleared by KPEI



Value of Securities in
                       n.a.                                           US$ 2.3 trillion (September 30, 2004)           n.a.
Custody (US$)




Amount of Cash
                        US$ 4.2 billion                               n.a.                                            n.a.
Settled (in US$)

Percentage of
                                                                                                                      Bonds: 30% of physical certificates of bonds
Securities
                     n.a.                                             Stocks: 56.3 % immobilized                      eligible for custody under JSSC * Foreign stocks
Immobilized/Demateri
                                                                                                                      are held by custodians in home countries
alized
                                                                                                                      Memorandum of Understanding - KSD(July2001) -
                                                                                                                      SD&C•i October2003•j Business Agreement - The
Memorandum of                                                                                                         Canadian Depository for Securities (Nov. 1985) -
                                                                                                                      Euroclear France(June 1976) -Clearstream Banking
Understanding /                                                       Memorandum of Understanding; DTCC
                   n.a.                                                                                               Frankfurt (October 1985) -Clearstream Banking
Business Agreement                                                    (August 2003)                                   Luxembourg (August 1996) -The Central Depository
(Date)                                                                                                                (PTE) Limited (October 1990) -NSCC/DTCC (July
                                                                                                                      1988) -Korea Securities Depository(December 2001) -
                                                                                                                      Custodian Banks

                        Total Revenue US$ 4.2 million Operating       Total revenue; US$ 162.0 million Total
Total Revenue /
                        revenue US$ 2.5 million Operating expenses    expenses; US$ 137.4 million Net income          Total revenue; US$ 28 million Total expenses;
Expenses and Net
                        US$ 3.5 million Net Income (Loss) US$ 462     after tax; US$ 15.6 million (as of the end of   US$ 28 million Net loss ; US$ 0.2million
Income (in US$)
                        thousand                                      March 2004)



Number of Officers
                        Total 69 staff                                Total 106 staff                                 Total; 160 staff
and Employees



                        Jakarta Stock Exchange (JSX) Surabaya         Five stock exchanges (Tokyo, Osaka,             Five stock exchanges (Tokyo, Osaka, Nagoya,
Stock Exchanges
                        Stock Exchange (SSX)                          Nagoya, Fukuoka, Sapporo ) and JASDAQ           Fukuoka, Sapporo ) and JASDAQ


                                                                      Market vaule; Stocks: US$ 3.4 trillion;         Market vaule; Stocks: US$ 3.4 trillion;
Market Capitalization                                                 Convertible Bonds: US$45.9 billion (as of       Convertible Bonds: US$45.9 billion (as of the end
                      Trading volume; 292 billion shares (in total)
/ Trading Volume (in                                                  the end of March '04) /Stock Trading value:     of March '04) /Stock Trading value: US$ 2.4
                      Trading value; US$ 16 billion (in total)
US$)                                                                  US$ 2.4 trillion, Stock Trading volume: 331     trillion, Stock Trading volume: 331 billion shares
                                                                      billion shares (For during 2003)                (For during 2003)

                        T+3 (Stocks) T+2 (Corporate Bond) T+3         T+3 (Stocks) T+ 3 (Corporate Bond) T+ 3         T+3 (Stocks) T+ 3 (Corporate Bond) T+ 3
Settlement Period
                        (Government Bond)                             (Government Bond)                               (Government Bond)
                                                                      The Bank of Japan for Government bonds          The Bank of Japan for Government bonds
Other CSDs or                                                         Depository, Japan Securites Clearing            Depository, Japan Securites Clearing
Clearing                n.a.                                          Corporation (CCP for Exchanges tradings),       Corporation (CCP for Exchanges tradings),
Organizations                                                         JASDEC DVP Clearing Corportaion (CCP for        JASDEC DVP Clearing Corportaion (CCP for
                                                                      non-exchange tradings)                          non-exchange tradings)
                                  Overview of CSDs and Clearing Orgaizations As of July 31, 2004                                                                      5

                                                                            Bursa Malaysia Depository Sdn Bhd                Bursa Malaysia Securities Clearing Sdn
Member CSDs              Korea Securities Depository (KSD)
                                                                            (Bursa Depository)                               Bhd (Bursa Clearing (S))
Country/region           Korea                                              Malaysia                                         Malaysia

Capital (in US$ )        US$ 27.6 million                                   US$ 6.6 million                                  US$ 78.9 million


                         Stock Exchange 70.2%; Securities Companies
                         22.6%;Others (Securities-related Organizations, Bursa Malaysia Berhad 75%, ABM MCD
Shareholders                                                                                                                 Bursa Malaysia Berhad 100%
                         Banks, insurance Companies etc) 7.2% Total:     Holdings Sdn Bhd 25%
                         95

                                                                            Total participants: 67 comprising,•@ i) Authorised
                                                                            Depository Agents (ADAs) are participating
                                                                            organizations that are appointed by Bursa Malaysia
                                                                            Depository to provide CDS facilities and services to Total ClearingParticipants; 47, comprising
Types and number of
                    Total: 722                                              the investing public.Total ADAs:39 & ADA             38 Trading Clearing Participants and 9 Non-
Participants                                                                Branches: 110, ii)Authorized Direct                  Trading Clearing Participants
                                                                            Members(ADMs) are instituitions that are allowed
                                                                            to open and operate their CDS account directly
                                                                            with Bursa Malaysia Depository•@ Total ADMs : 28
                         Collective custody, Book-entry transfer,
                         Collateral management (Pledging), Securities
                         lending and borrowing, bond registration, Cross-
                         border securities deposit & settlement and          Bursa Depository is the central depository for
                                                                                                                            Clearing and settlement for trades
Range of Services        Entitlement processing, securities lending &       Bursa Malaysia Securities Berhad. Securities
                                                                                                                            transacted on Bursa Malaysia Securities
Provided                 borrowing, Repo, ETF, Collateral management        settlement at depositor level based on DVP
                                                                                                                            Berhad.)
                         for OTC derivatives, Fund settlement(launched      Model 2.
                         in January, 2004) Secure call management
                         Advance Request System for transfer agent
                         services
                         Stock exchange listed securities, Stocks
                         registered with KOSDAQ, Non-listed bonds            Listed Stocks, Corporate Straight Bonds,        Listed Stocks, Corporate Straight Bonds,
Eligible Securities
                         issued in series of listed bonds but with different Corporate Convertible Bonds                     Corporate Convertible Bonds
                         date of sales



Value of Securities in
                         US$ 875billion                                     US$ 174.42 billion (RM662.8 billion)             n.a.
Custody (US$)




Amount of Cash                                                                                                               US$72.71 billion (RM276.3 billion)•@ (12
                         US$ 1.29trillion                                   n.a.
Settled (in US$)                                                                                                             months ended July 2004)

Percentage of
Securities
                     Stocks: 79.4% Bonds: 95.6%                             100% immobilized                                 n.a.
Immobilized/Demateri
alized


                   Memorandum of Understanding
Memorandum of
                   -SD&C (September 1999) -TSCD (April 2000) -
Understanding /                                                                                                              Memorandum of Understanding- Planned to
                   UzSCD (May 2002)                            n.a.
Business Agreement                                                                                                           have with KLSE and MCD.- 2003
                   Information Exchange Agreement
(Date)
                   -DTCC (February 2004



                                                                         Total revenue; US$13.55 million (RM51.50            Total revenue; US$34.52 million (RM131.17
Total Revenue /
                         Total revenue; US$ 74.9 million Total expenses; million)•@ Total expenses; US$ 6.29 million         million)•@ Total expenses; US$23.22 million
Expenses and Net
                         US$ 62.2 million                                (RM23.90 million)•@ (for Financial Year Ended       (RM 88.24 million)•@ (for financial Year ended
Income (in US$)
                                                                         31 December 2003)                                   31 December 2003)



Number of Officers
                         Total; 476 staff                                   Total 51 staff;                                  Total; 10 staff
and Employees




Stock Exchanges          Korea Stock Exchange, KOSDAQ , KOFEX               Bursa Malaysia Berhad                            Bursa Malaysia Berhad




                      Market capitalization; Stock US$ 315 billion,         Market capitalization; US$174.91 billion         Market capitalization; US$174.91 billion
Market Capitalization
                      Listed bonds 552 billion Trading volume; Stock        (RM664.67 billion)•@ Market value of the         (RM664.67 billion)•@ Market value of the
/ Trading Volume (in
                      192 billion shares, Listed bonds US$ 263 billion      deposited securities; US$ 174.42 billion         deposited securities; US$174.42 billion
US$)
                      (August 2003 ~July 2004)                              (RM662.8 billion)                                (RM662.8 billion)


                         T+2 (Stocks) T+0 (Corporate Bond) T+1              T+3 (Stocks – equity and non-equity)•@ T+3       T+3 (Stocks – equity and non-equity)•@ T+3
Settlement Period
                         (Government Bond)                                  (Corporate Bond)                                 (Corporate Bond)
                                                                            Central Bank – Government securities and         Central Bank – Government securities and
Other CSDs or
                                                                            Private Debt securities.•@ Bursa Malaysia        Private Debt securities.•@ Bursa Malaysia
Clearing                 n.a.
                                                                            Derivatives Clearing Berhad (Bursa Clearing      Derivatives Clearing Berhad (Bursa Clearing
Organizations
                                                                            (D))- clears financial futures and commodity     (D))- clears financial futures and commodity
                                 Overview of CSDs and Clearing Orgaizations As of July 31, 2004                                                                6

                       Reserve Bank of New Zealand / New Zealand
                                                                           China Securities Depository & Clearing Central Depository Company of Pakistan
Member CSDs            Central Securities Depository Limited (RBNZ /
                                                                           Corporation Limited (SD&C)             Ltd. (CDC)
                       NZCSD)
Country/region         New Zealand                                         P.R. China                                   Pakistan

Capital (in US$ )      USD 300                                             US$ 146 million                              US$ 1.7 million



                                                                           Shanghai Stock Exchange 50%                  Stock Exchanges (3) 52.3% Banks and
Shareholders           Reserve Bank of New Zealand 100%
                                                                           Shenzhen Stock Exchange 50%                  DFIs & Others (7) 47.7% Total: 10



                                                                           SD&C Shanghai Branch (as at end of
                                                                           2003):Total domestic participants:
                                                                                                                        Total: 427•@• A/C Holders: 45•@ Participants:
                                                                           213Total abroad participants for B shares:
                                                                                                                        382•@ (The main difference between
Types and number of Full Member: 73, Associate Member: 61,                 68 SD&C Shenzhen Branch(as at end of
                                                                                                                        Participants & A/c holders is that
Participants        Nominated Trust Member: 97 Total: 230                  2003):
                                                                                                                        Participants are allowed to safe keep
                                                                           Total domestic participants: 218•@ Total
                                                                                                                        securities of their clients.)
                                                                           abroad participants for B shares:47




                                                                           Registration, depository, clearing and       Depository Services (such as deposit &
                       Full Depository services for all debt and equity
                                                                           settlement service for all the securities    withdrawal, Corporate Actions, Pledge,
Range of Services      securities, clearing and settlement services on a
                                                                           listed on the Shanghai Stock Exchange        Free deliveries, New issue, etc.) , Direct
Provided               real time DvP basis. Includes cash transfers, fx
                                                                           and Shenzhen Stock Exchange. No              Investor A/c Services, Trustee/Custodial
                       confirmations
                                                                           securities lending facility.                 Operations, Clearing & Settlement



                       Listed Stocks, ETF, Government bonds, Corporate     Listed Stocks, Treasury Bonds, Corporate
                                                                                                                    Listed & Unlisted securities including
                       Straight Bonds, Corporate Convertible Bonds, and    Straight Bonds, Corporate Convertible
Eligible Securities                                                                                                 Shares, Modaraba Certificates, Bonds,
                       other non listed interest bearing registered        Bonds, Listed Open-ended Funds and
                                                                                                                    Government securities, etc.
                       securities are considered                           Closed-end Fund



Value of Securities in                                                                                                  Equities: US$ 7.83 billion•@ Bonds: US$ 0.8
                       US$ 54 billion                                      US$ 572.1 billion
Custody (US$)                                                                                                           billion




                                                                                                                        Amount settled per day is approx. US$
Amount of Cash
                       US $3,450 billion                                   n.a.                                         21.92 million. (Settled on behalf of National
Settled (in US$)
                                                                                                                        Clearing Company of Pakistan Limited.)
Percentage of                                                                                                           Equities: 50.53% immobilized (excluding
Securities                                                                 Listed Stocks and Bonds: 100%                Government holding) 29.16% immobilized
                     100% dematerialized
Immobilized/Demateri                                                       dematerialized                               (including Government holding) Corporate
alized                                                                                                                  Bonds: 62.15% immobilized


                                                                           Memorandum of Understanding -
Memorandum of
                                                                           KSD(October 2002)•@ Memorandum of            Facility Management Agreement with
Understanding /
                   Bilateral agreement with HKMA                           Understanding-OMHEX(February,2004)           National Clearing Company of Pakistan
Business Agreement
                                                                           Memorandum of Understanding-                 Limited dated November 2003.
(Date)
                                                                           HKEx(September 2004)




Total Revenue /                                                                                                         Total revenue; US$ 9.78 million Total
                       Total revenue; NZD 3.6 million •@ Total expenses;
Expenses and Net                                                           n.a.                                         expenses; US$ 3.42 million (both figures
                       NZD 2.7 million
Income (in US$)                                                                                                         are as of 30-06-04)




Number of Officers
                       Total; 8 staff                                      Total;296 staff                                                                           209
and Employees



                                                                                                                        Three exchanges Karachi Stock Exchange
                                                                           Shanghai Stock Exchange
Stock Exchanges        New Zealand Stock Exchange                                                                       (KSE) Lahore Stock Exchange (LSE)
                                                                           Shenzhen Stock Exchange
                                                                                                                        Islamabad Stock Exchange


                                                                                                                        Market capitalization; US$ 24.31 billion
                                                                           Market capitalization :About USD
Market Capitalization                                                                                                   Trading Volume; Turnover: 411.71 million
                                                                           572billion (as at end of 2003)•@ Trading
/ Trading Volume (in n.a.                                                                                               shares daily Trading Value : US$ 337
                                                                           volume for December 2003: about USD
US$)                                                                                                                    million daily (These figures are of Fin year
                                                                           421 billion(ex bonds
                                                                                                                        03-04 and related only to KSE)

                       T+3 (Stocks)•@ T+2 (Corporate Bond)•@ T+2           T+1 (A-Shares) T+3 (B-Shares) T+ 1      T+3 (Regular Market) T+1 (For Spot
Settlement Period
                       (Government Bond)                                   (Corporate Bond) T+ 1 (Government Bond) transactions)
                                                                                                                        National Clearing Company of Pakistan
Other CSDs or                                                              The China Government Securities
                                                                                                                        Limited. KSE Clearing House LSE Clearing
Clearing               n.a.                                                Depository Trust & Clearing Corporation
                                                                                                                        House ISE Clearing House Central Bank
Organizations                                                              Limited for government bond
                                                                                                                        (for govt. securities)
                                 Overview of CSDs and Clearing Orgaizations As of July 31, 2004                                                                            7


Member CSDs            Philippine Central Depository,Inc. (PCD)               The Central Depository (Pte) Ltd. (CDP)                Central Depository System (PVT) Ltd. (CDS)

Country/region         Philippine                                             Singapore                                              Sri Lanka

Capital (in US$ )      US$ 4.63 million                                       US$ 59 million                                                                                    242.25

                       Philippine Dealing System Holdings Corp. (PDS) 100%
                       PDS owners: Bankers Association of the Phils: 38%,
                       Issuers, Insurance Companies, & others: 35.28%,
Shareholders                                                                Singapore Exchange 100%                                  Colombo Stock Exchange 100%
                       Philippine Stock Exchange: 12.22%, Technology
                       Provider: 10%, , Investment House Association of the
                       Philippines: 2.5% and Social Security System: 2%



                    Total: 240 PSE-Brokers:155, Fixed Income
                    Participants:10, Custodians: 5, PDTC-Managed
Types and number of                                                  Depository Agents: 60 Direct Account
                    BES Accounts: 19, Financial Institutions: 9,                                                                     Total: 34
Participants                                                         Holders 1.24 million
                    Philippine Domestic Dollar Trading Participants:
                    42


                                                                              1. Clearing & settlement of securities & bonds
                       Clearing and settlement infrastructure,                Depository services such as maintenance of
                       depository (lodgments and uplifts) and nominee         securities accounts,                                   1. Opening of securities accounts for clients
                       (corporate actions and reconciliation) services,       2. deposit,withdrawal and transfer of securities,      end-investor accounts ) 2. Deposit of securities
                                                                              corporate actions, takeover offers, redemption of
Range of Services      bureau services, sub-account registry,                                                                        3. Transfer of securities 4. Withdrawal of
                                                                              debt securities, new issue and distribution service,
Provided               institutional delivery system, PCD-managed BES         provision of shareholdings’ information to issuers,
                                                                                                                                     securities 5. Clearing & Settlement of securities
                       account, report printing, Domestic Dollar              dispatch of annual reports/circulars Other value-      6. Direct crediting of securities 7. Providing CDS
                       Transfer system, registry system provider for          added services such as securities borrowing and        account holder information to companies
                       fixed income securities                                lending, direct crediting service, CDP automated
                                                                              phone service, CDP Internet service etc

                                                                              Listed Stocks, ETF, Corporate Straight Bonds, Stock exchange listed stocks, government
Eligible Securities    Listed Stocks. Private Bonds                           Corporate Convertible Bonds, Corporate        bonds, corporate straight bonds and corporate
                                                                              Warrant Bonds, REIT, Depository Receipts      convertible bonds




Value of Securities in
                       US$ 5.65 billion                                       US$180 billion                                         US$ 1.74 billion
Custody (US$)




Amount of Cash         n.a. For equities, cash is settled by the                                                                     N/A Settlement takes place through the
                                                                              US$122 billion (trading value: FY 2004)
Settled (in US$)       Securities Clearing Corporation of the Phil.                                                                  nominated settlement bank

Percentage of
Securities                                                                                                                           Equity: 49% immobilized (July 31, 2004) Corp.
                     27.88% immobilized                                       81% immobilised
Immobilized/Demateri                                                                                                                 Debt: 49% immobilized (July 31, 2004)
alized

                                                                              1. National Securities Clearing Corporation of
                                                                              New York – March,1988 2. Japan Securities
Memorandum of
                                                                              Clearing Corporation – Oct 1990 3. Shenzhen
Understanding /    n.a. For equities, cash is settled by the
                                                                              Securities Registrars Company-Jul 1995 4.      n.a.
Business Agreement Securities Clearing Corporation of the Phil.
                                                                              Clearstream Banking Luxemborg ( Mar 1993)
(Date)
                                                                              5. PT Kustodian SentosaEfek Indonesia – Nov
                                                                              2000

                        (as of Dec. 31, 2002) Service Income – PhP
Total Revenue /        63,362,197 (US$1.17m) Other Income – PhP    Total operating revenue; US$105.05million                         Total revenue; US$ 3.09 million Total
Expenses and Net       11,689,579 (US$ 2.16m) Operating Expenses – Total operating expenses; US$32.21million                         expenses; US$ 1.23 million (as at 31st Dec.
Income (in US$)        PhP 12,095,874(US$0.22m) Cost of Services – (30 June 2004)                                                    2003)
                       PhP 67,365,255 (US$1.24m)
                       Office of the President; 2, Corporate Planning/Human
                       Resources; 3, Operations (Depository, Nominee
Number of Officers     Services & Participant Services; 11, Information                                                              Total number of employees 12 Including 6
                                                                                Total: around 99 staff
and Employees          Technology; 12, Finance, Accounting & Administration;                                                         Officers (Clearing & Settlement Division)
                       7, Total Officers: 11, Total Staff: 24 Total Headcount –
                       35(as of July. 31, 2003)


Stock Exchanges        Philippine Stock Exchange                              Singapore Exchange                                     Colombo Stock Exchange



                      Market capitalization; US$ 38.6 billion, (US•• 54 :                                                            Market capitalization; LKR (Billions) 356= US$
Market Capitalization PhP1) as of December 31, 2002 Trading value Market capitalization: US$ 381 billion (as of                      3.45 Billion (31/07/04) Trading volume; (Millions
/ Trading Volume (in turnover; US$ 3.1 billion (as of December 31,        31 July 2004) Trading Volume (in shares):                  486.39 (31st JULY. 2004) Market value of the
US$)                  2002) Market value of the deposited securities; 251.7 billion ( FY2004)                                        deposited securities; LKR (Billions) 180= US$
                      US$4.68B(US$55 : PhP1) as of July 31, 2003)                                                                    1.74 Billion (31st JULY.2004)

                                                                              T+3 (Stocks) Flexible Settlement Period
                                                                                                                                     T+6 (Stocks) T+1 (Corporate Bond) Flexible
Settlement Period      T+3 (Stocks)                                           (Corporate Bond) (Government Bond is not
                                                                                                                                     Settlement Period (Government Bond)
                                                                              traded on SGX )
Other CSDs or
Clearing               n.a.                                                   n.a.                                                   n.a.
Organizations
                                  Overview of CSDs and Clearing Orgaizations As of July 31, 2004                                                                                8

                                                                                    Thailand Securities Depository Co., Ltd. Uzbekistan State Central Securities
Member CSDs            Taiwan Securities Central Depository (TSCD)
                                                                                    (TSD)                                    Depository (UzSCSD)
Country/region         Taiwan                                                       Thailand                                       Uzbekistan
                                                                                    US$ 5 million(as of December 31,
Capital (in US$ )      US$72.84 million                                                                                            US$ 152 500
                                                                                    2003,US$ 1 = Baht 39.74)


                       Taiwan Stock Exchange 55%, Fu Hwa
                                                                                    Stock Exchange 99.99% TSD
Shareholders           Securities Finance Co.; 15%, Securities Firms                                                               100 % State Owned Company
                                                                                    Management 0.01%
                       & others; 30%




                                                                                                                                   Trade Pad (Platforms): 3, Brokers: 105 State
Types and number of                                                                 Total: 249 (including 174 issuers) (as of
                    Total: 686 (including 476 issuers )                                                                            Bodies: 2, Second Level Depositories: 32,
Participants                                                                        July 31, 2004)
                                                                                                                                   Privatization Investment Funds: 7Total: 149




                       The major business of TSCD include: custody of
                       securities, book-entry of securities settlement and
                       securities pledging, computerized processing of              Clearing & Settlement for equity,
                       securities transactions, book-entry of securities
                                                                                    Depository for both Equity and bond       Depository services, Custody services,
Range of Services      allocation, registration of securities issued in scripless
                                                                                    market, Securities and Fund Registration, Securities settlement, Registrar for
Provided               form, and all other business approved by Securities
                       and Futures Bureau (SFB), Financial Supervisory              Securities Lending, Back-Office Service   Privatization Investment Fund
                       Commission, Executive Yuan, R.O.C. Cash and                  Bureau for Brokers.
                       Securities settlement for Emerging Stocks of OTC
                       Market.

                       Stock exchange listed stocks, ETF, government                Stock exchange listed stocks, ETF, government
                                                                                    bonds, corporate straight bonds and corporate
                       bonds, corporate straight bonds, corporate                                                                  All the issued stocks, Equities, Corporate
Eligible Securities                                                                 convertible bonds, Unit Trusts, Debentures,
                       convertible bonds, beneficiary certificates and              derivative warrants, transferable subscription
                                                                                                                                   Bonds and Warrants
                       depository receipts                                          rights, and depository receipts
                                                                                    Equity: *SET: Baht 2,576,749.47 million (US$
                                                                                    62,135.27 million) *MAI: Baht 7,541.33 million
                                                                                    (US$ 181.85 million) Debt: *Band Market
Value of Securities in                                                                                                             Equities: US$ 2 .1 billion Corporate Bonds:
                       US$352.9 billion                                             Exchange: Baht 39,312.93 million (US$ 947.99
Custody (US$)                                                                       million) *Thai Bond Dealing Center (Par): Baht
                                                                                                                                   US$ 35.8 million
                                                                                    7,314.54 million (US$ 176.39 million) (As of
                                                                                    July 31, 2004, US$ 1 = Baht 41.47)

                                                                                    Daily Average: Baht 3,305.88 million (US$ n.a. *Settlements are executed by Stock
Amount of Cash
                       US$0.91 billion for Emerging Stock                           79.72 million) (January - July 2004) (US$ Exchange. UzSCSD settles only by nominal
Settled (in US$)
                                                                                    1 = Baht 41.47, as of July 31, 2004))     value.
Percentage of                                                                        Equity: *SET: 62% *MAI: 92% Debt
Securities                                                                          *Band Market Exchange: 25% *Thai Bond
                     Dematerialized: 11.46%                                                                                  94.89 % immobilized
Immobilized/Demateri                                                                Dealing Center (Par): 2% (As of July 31,
alized                                                                              2004)


                   2000.3.20 “Memorandum of Understanding for
Memorandum of
                   Information Exchange” with Korea Securities
Understanding /
                   Depository (KSD). 2003.8.25 “Memorandum of n.a.                                                                 n.a.
Business Agreement
                   Understanding for Information Exchange” with
(Date)
                   DTCC


                       Total operating revenue; NT$ 1,838,005,000                   Total revenue; Baht 564,502,044.71
Total Revenue /        Around US$ 54,058,971 Total operating                        (US$14,204,882.86) Total expenses; Baht
                                                                                                                                   N/A :UzSCSD is a non-commercial state-
Expenses and Net       expenses; NT$ 1,490,470,000 Around US$                       504,128,123.24 (US$ 12,685,659.87) Net
                                                                                    Profit; 43,642,623.85 (US$ 1,098,203.93) (as
                                                                                                                                   owned enterprise
Income (in US$)        43,837,353 Net Income: NT$ 564,746,000
                       Around US$ 16,610,176 (as of year 2003)                      ofDecember 31, 2003, US$ 1 = Baht 39.74)



Number of Officers
                       Total; around 455 staff (year 2003)                          Total; 154 staff (as of July 31, 2004)         Total: 99 staff
and Employees


                       Taiwan Stock Exchange Corporation, GreTai                    Stock Exchange of Thailand (SET)
                       Securities Market (name changed, formerly                    Market for Alternative Investment
Stock Exchanges                                                                                                                    Republican Stock Exchange, Elsis savdo
                       R.O.C. Over-the-Counter Securities Exchange))                (MAI)Thai Bond Dealing Center that
                       Taiwan Futures Exchange.                                     handles debt instruments
                                                                                    Market Capitalization: * SET: Baht
                      Market capitalization: US$ 381.66 billion,                    4,128,920.76 million (US$ 99,564.04 million) *
Market Capitalization                                                               MAI: Baht 8,202.71 million (US$ 197.80 million)
                      Trading Volume: On TSEC US$ 34.27 billion                                                                     Market Capitalization: US$ 2 .1 billion Trading
/ Trading Volume (in                                                                Trading Value: * SET: Baht 318,954.48 million
                      On GreTai US$ 5.08 billion (include emerging                  (US$ 7,691.21 million) * MAI: Baht 7,087.67
                                                                                                                                    Volume :US$ 42.9 million
US$)
                      stocks) As end of July, 2004                                  million (US$ 170.91 million) (as of July 31,
                                                                                    2004)

Settlement Period      T+2 T+2 (Corporate Bond)                                     T+3 T+2 (Corporate Bond)                       Varies from T+ 0 to T+ 5

Other CSDs or                                                                                                                      “Elsis Kliring” Settlement and Clearing
Clearing               n.a                                                          n.a.                                           Company ; Depository and Clearing House of
Organizations                                                                                                                      Currency Stock Exchange

				
DOCUMENT INFO
Description: Securities Lending and Borrowing Agreement Between Bank and Pt document sample