Safe Custody of Financial Instruments

For ensuring safe custody of financial instruments, rendering of related services, and execution of transactions, ABLV Bank, AS (hereinafter referred to as the Bank) uses services provided by other agency companies, including correspondent banks, exchanges, depositories, clearing houses and other financial market institutions (hereinafter referred to as Agency Companies).

Financial instruments that belong to customer are held in a nominee account with an Agency Company, which is opened in the name of the Bank (hereinafter referred to as Nominee Account), and it is indicated that those financial instruments belong to the Bank’s customers. Financial instruments that belong to several customers of the Bank are held in one Nominee Account.

The Bank may hold financial instruments that belong to customers with Agency Companies registered abroad also in cases where custody of financial instruments in the Nominee Account for the benefit of third parties is not regulated in those countries, in case it is necessary for executing financial instruments transaction requested by the customer.

The Bank keeps records of customers’ financial instruments under custody and ensures that:

  1. at any time it is possible to separate financial instruments that belong to one customer from financial instruments that belong to another customers or the Bank;
  2. records are regularly reconciled with financial instruments’ records kept by the Agency Company which the Bank holds customers’ financial instruments with.