Lead sub-custodian
Bank in Chile
Banco de Chile is part of the Citibank network for the custody and settlement of financial assets
Long history and expertise, offering services to local and foreign investors
Winners of Best Global Sub-custodian Bank from 2008 to the present according to Global Finance
Direct Custody and Clearing
Direct custody and clearing of securities on behalf of non-resident investors under the simplified tax regime (Resolution 150)
This service is provided by Banco de Chile's Securities and Trustee team in collaboration with Citibank.
- Issuance of local Tax ID (Resolución 150)
- Opening of cash and securities accounts
- Establishment of SWIFT communications (in and out of accounts)
- Equity (stocks)
- Bonds (Fixed Income)
- Managed Funds
- ADR/GDN
- Management of withholding and capital gains tax obligations Handling of bookkeeping requirements from tax authority
Foreign Exchange services for repatriation/investment
Short selling and Lending services
Representation in Corporate Events (General meetings, dividends, option subscrption, etc)
Direct custody and clearing of securities on behalf of resident investors.
- Custody and clearing of financial assets
- Collateral Agency
- Represent Beneficiaries
CLP Current Account
CLP current account services for entities without residence in Chile who can be legal and natural persons.
- Account that allows non-resident clients to manage a balance in CLP and transfer funds to custody (DCC) accounts for securities related activity
- Allows customers to settle pure cash transactions in the market
- Establishes communication 100% via swift
Escrow
A service where the bank acts as an intermediary between parties in the role of ensuring compliance of said parties within the framework of the Escrow Agreement.
- Mergers and Acquisitions
- Corporate Restructuring
Agency Services
Collateral and Deposit Agency, Agency Banking
Services administered for syndicated loans
- Coordinate communication between parties
- Coordination of Waiver requests
- Reception and distribution of Appraisals of the Goods delivered as collateral (Maturity controls)
- Calculation of Extension rates
- Distribution or retention of Dividends from Pledged Shares
Services encompassing the establishment, acceptance, custody and management of collateral
- Management of restricted accounts and custody and clearing of securities instruments
- Monitoring and control of deposits and withdrawals
- Establishment and acceptance of collateral
Collateral custody
Custody service for creditors who are beneficiares of collateral (shares, bonds, mutual funds shares, among others)
- Warranty bill
- Warranty policy
Bond Holder/Issuer Services
Services delivered to issuers where the bank looks after the interests of the Bondholders of an “Issue” in accordance with the obligations and responsibilities assumed by the Issuer in the respective Contracts.
- Covenant Review
- Paying Bank for amortization of coupons and interest
- Summoning, organization and hosting of Bondholders Meeting
