The Chase Manhattan Bank
Global Investor Services, 4 Chase MetroTech Center, 18th Floor, Brooklyn, N.Y. 11245; phone: (718) 242- 9151; fax: (718) 242-8896
($ millions)
Domestic master trust assets 2,586,000
Tax-exempt 207,000
Taxable 2,379,000
Domestic master custodial assets 157,000
Domestic master trust clients:
Tax-exempt 500
Taxable 200
Domestic master custodial clients 135
Account supervisors 50
Reports available online:
Monthly transaction
Asset & liability
Performance measurement
Tax reclaim
Cash
Reconciliation
Corporate action
Securities lending
Tax lot
Valuation
Investment manager
The Chase Manhattan Bank reported new, tax-exempt domestic master trust business of $8.5 billion in the year ended June 30 and new, tax-exempt domestic master custodial business of $57 billion.
The primary accounting method is fully accrued, trade date. Average cost and tax inventory also are offered; for tax lot accounts, a variety of methods are supported, including LIFO, FIFO, high cost, low cost and specific lot.
Services offered in the basic master trust/master custodial agreement are accounting and reporting; short-term cash management; income collection; proxy voting; asset safekeeping; trade settlement; transaction and holdings reports; and corporate action processing. Securities lending; foreign exchange; benefit payments; investment management; performance measurement and portfolio attribution; compliance services; trade execution services; and trade efficiency analyses are available for additional fees.
Record-keeping services offered include bundled and unbundled for defined contribution plans, and electronic links to accommodate relationships with other providers.
Fees are based on a combination of asset market value and transaction volume.
The master trust and master custody client contact is Charles T. Connell.
Citibank N.A.
111 Wall St., New York, N.Y. 10043; phone: (212) 657-9370; fax: (212) 657-3310
($ millions)
Domestic master trust assets 370,297
Tax-exempt 128,297
Taxable 242,000
Domestic master custodial assets 119,205
Domestic master trust clients:
Tax-exempt 221
Taxable 250
Domestic master custodial clients 74
Account supervisors 139
Reports available online:
Monthly transaction
Asset & liability
Performance measurement
Securities lending
Citibank N.A.'s primary accounting method is fully accrued, trade date. Settlement date and cash also are offered.
Services offered in the basic master trust/master custodial agreement are safekeeping, custody, cash management, income collection, corporate action monitoring, proxy voting, trade date reporting, plan accounting, online information management and compliance.
Global custody, securities lending, dividend reinvestment, benefit disbursing, portfolio management systems, performance measurement and analytics are available for additional fees.
Fees are based on services provided, assets held and transaction volume.
The master trust and master custody client contact is Samuel J. Borowski.
Comerica Bank
411 W. Lafayette, P.O. Box 75000, Detroit, Mich. 48275-3467; phone: (800) 872-1242; fax: (313) 222- 6641; Web site: www.comerica.com
($ millions)
Domestic master trust assets 60,271
Tax-exempt 36,850
Taxable 23,421
Domestic master custodial assets 28,951
Domestic master trust clients:
Tax-exempt 66
Taxable 10
Domestic master custodial clients 123
Account supervisors 15
Reports available online:
Monthly transaction
Asset & liability
Comerica Bank reported new, tax-exempt domestic master trust business of $7.479 billion in the year ended June 30 and new, tax-exempt domestic master custodial business of $3.475 billion.
The primary accounting method is trade date. Settlement date also is offered.
Services offered in the basic master trust/master custodial agreement are trade settlement, income collection, corporate action processing, proxy voting, monthly reporting and online access.
Plan accounting, cash management, performance measurement, securities lending, benefit payment processing, global custody and investment management are available for additional fees.
Record-keeping services offered include those for participants of defined contribution plans and political action committees.
Fees are based on asset value.
The master trust and master custody client contact is Maurice Shane.
CoreStates Bank N.A.
P.O. Box 7618, Philadelphia, Pa. 19101-7618; phone: (215) 973- 6006; fax: (215) 786-6545; Web site: www.corestates.com
($ millions)
Domestic master trust/custody assets 3,225
Domestic master trust/custody clients 26
Account supervisors 37
Reports available online:
Monthly transaction
Performance measurement
CoreStates Bank N.A. reported new, tax-exempt domestic master trust/custody business of $110 million in the year ended June 30.
The primary accounting methods are cash and accrual.
Services offered in the basic master trust/master custodial agreement are safekeeping of plan assets, collection and reinvestment of investment income, settling all security trades, depositing cash receipts, preparation of audited monthly transaction and asset accounting statements, quarterly and annual filing of taxes withheld, and monitoring of legal documentation compliance,
Record-keeping services offered include client reports, online capabilities and customized reporting.
Fees are based on market value and transactions.
The master trust and master custody client contact is Frank Bradley.
First Tennessee Bank N.A.
P.O. Box 84, Memphis, Tenn. 38101; phone: (901) 681-2525; fax: (901) 681-2540
($ millions)
Domestic master trust assets 605
Tax-exempt 605
Domestic master custodial assets 3,450
Domestic master trust clients:
Tax-exempt 4
Domestic master custodial clients 12
Account supervisors 2
Reports available online:
Monthly transaction
Asset & liability
First Tennessee Bank N.A.'s primary accounting method is settlement date with accruals. Trade date also is offered.
Services offered in the basic master trust/master custodial agreement are asset custody and safekeeping; collection of interests and dividends; corporate reorganization activity; trade settlement; proxy voting pass-through; and brokerage commission reporting.
TUCS reporting, loan and insurance administration and benefit payments and tax reporting are available for additional fees.
Record-keeping services offered include participant recording.
Fees are based on assets and services rendered.
The master trust and master custody client contact is Deborah McDonald.
First Trust N.A.
First Bank Place, 601 Second Ave., Fifth Floor, Minneapolis, Minn. 55402; phone: (612) 973-4375; fax: (612) 973-4533
($ millions)
Domestic master trust assets 4,136
Tax-exempt 4,107
Taxable 29
Domestic master custodial assets 1,045
Domestic master trust clients:
Tax-exempt 132
Taxable 2
Domestic master custodial clients 23
Account supervisors 5
Reports available online:
Monthly transaction
Asset & liability
Performance measurement
First Trust N.A. reported new, tax-exempt domestic master trust business of $70.4 million in the year ended June 30.
The primary accounting method is trade date, full accrual. Settlement date, cash basis also is offered.
Services offered in the basic master trust/master custodial agreement are custody, unitized accounting, combined account reporting, performance measurement, online access and access to payment system.
Securities lending, global custody, performance universe participation, online performance measurement report writing, investment management, daily valuation services and bundled 401(k) services are available for additional fees.
Record-keeping services offered include daily and balance forward record-keeping.
Fees are based on transactions and market value.
The master trust and master custody client contact is Carter Dreblow.
