Bank of Boston
P.O. Box 1865, Boston, Mass. 02105-1865; phone: (617) 575-2000; fax: (617) 575-3161
($ millions)
Domestic master trust assets35,633
Tax-exempt2,833
Taxable32,800
Tax-exempt domestic master custodial4,440
Domestic master trust clients:
Tax-exempt32
Taxable537
Domestic master custodial clients:
Tax-exempt31
Account supervisors9
Reports available on-line:
Monthly transaction
Asset & liability
Bank of Boston reported new, tax-exempt domestic master trust business of $500 million in the year ended June 30 and new, tax-exempt domestic master custodial business of $750 million.
The primary accounting method is trade date. Settlement date, cash basis and tax lot accounting methods also are offered.
Services offered in the basic master trust/master custodial agreement are asset safekeeping, settlement, income collection, corporate action processing, cash management, options and futures processing, accounting and reporting.
Global custody, benefit disbursements, participant record keeping, securities lending, on-line access, plan accounting, endowment donor accounting, performance measurement and universe comparison are available for additional fees.
Record-keeping services offered include non-discrimination testing.
New features include enhanced benefit payment services and enhanced record-keeping services.
Fees are based on market value, transactions and portfolio charges.
The master trust and master custody client contact is Janice Charbonnier.
Bankers Trust Co.
280 Park Ave., New York, N.Y. 10017; phone: (212) 454-2065; fax: (212) 454-2647
($ millions)
Domestic master trust assets277,900
Tax-exempt273,700
Taxable4,200
Tax-exempt domestic master custodial100,400
Domestic master trust clients:
Tax-exempt466
Taxable31
Domestic master custodial clients:
Tax-exempt99
Account supervisors20
Reports available on-line:
Monthly transaction
Asset & liability
Performance measurement
Security lending reports
Bankers Trust Co. reported new, tax-exempt domestic master trust business of $4.5 billion in the year ended June 30 and new, tax-exempt domestic master custodial business of $1.8 billion.
The primary accounting method is average cost. FIFO, LIFO, high-cost and low-cost also are offered.
Services offered in the basic master trust/master custodial agreement are reporting, accounting, corporate actions processing, full servicing of investment managers, cash management, tax reporting, ERISA 5500 reports and income collection.
Global performance measurement with on-line workstations, asset consulting, global securities lending, benefit payments, investment management and participant services are available for additional fees.
Record-keeping services offered include 401(k), 403(b), ESOPs, 457 plans and benefit payments.
New features include fully integrated multicurrency accounting and reporting.
Fees are based on transaction volumes, safekeeping and administrative services.
The client contact is Allan C. Martin.
The Bank of New York
1 Wall St., New York, N.Y. 10286; phone: (212) 815-3580; fax: (212) 571-3050
($ millions)
Domestic master trust assets159,970
Tax-exempt125,470
Taxable34,500
Tax-exempt domestic master custodial186,942
Domestic master trust clients:
Tax-exempt429
Taxable16
Domestic master custodial clients:
Tax-exempt114
Account supervisors70
Reports available on-line:
Monthly transaction
Asset & liability
Performance measurement
Currency balances
Cash projection
Securities on loan
Foreign exchange rates
The Bank of New York reported new, tax-exempt domestic master trust business of $14.219 billion in the year ended June 30 and new, tax-exempt domestic master custodial business of $54.189 billion.
The primary accounting method is fully accrued trade and settlement date. Average cost, tax lot, LIFO, FIFO, amortized cost and liability also are offered.
Services offered in the basic master trust/master custodial agreement are worldwide securities settlement and safekeeping, full asset servicing, complete trust administration, multicurrency accrued accounting and reporting, cash management, electronic access through PC-based workstation and CPU-CPU links, and client training.
Benefit disbursements, worldwide securities lending, performance measurement/portfolio analytics and investment services are available for additional fees.
Record-keeping services offered include plan accounting, benefit disbursements and ERISA reporting.
New features include expansion of the subcustodian network and enhanced workstation capabilities.
Fees are based on market value of assets, transaction volume, portfolio structure and services.
The master trust client contact is Art Montegari; the master custody client contact is John Ehrmann.
