Bank of New York Mellon Corp

Latest Bank of New York Mellon Corp News and Updates

  • uploads///Retail
    Macroeconomic Analysis

    BlackRock’s Retail Continues to Attract New Clients across Classes

    BlackRock’s (BLK) retail business had assets under management (or AUM) of $542 billion as of March 31, 2016.

    By Robert Karr
  • uploads///Quarterly income
    Company & Industry Overviews

    Did Banks’ Earnings Grow in 4Q15?

    The Federal Deposit Insurance Corporation’s quarterly report on the health of the US banking industry said that 4Q15 bank earnings rose 11.9% year-over-year.

    By Rebecca Keats
  • uploads///Dividends
    Company & Industry Overviews

    Is KKR a good pick for retirement or growth options?

    Is KKR a good pick for growth options? KKR is expected to improve its realizations in 2015 and 2016 after an expected valuation increase of energy holdings.

    By Robert Karr
  • uploads///Repurchases
    Earnings Report

    BlackRock Increases Dividend on Improved Operating Performance

    BlackRock has historically paid out the major portion of its profits in dividends. It increases its dividend per share in-line with its performance.

    By Robert Karr
  • uploads///Valuation
    Company & Industry Overviews

    BlackRock’s Valuations following the Decline in Global Equities

    BlackRock (BLK) stock has risen 27.6% over the past six months and 39.0% over the past year.

    By Robert Karr
  • uploads///analysts
    Earnings Report

    How Analysts View TD Ameritrade after Fiscal 2Q18

    Of the 19 analysts covering TD Ameritrade (AMTD) in April 2018, seven have recommended “strong buy,” five have recommended “buy,” six have recommended “hold,” and one has recommended “strong sell.”

    By Raymond Anderson
  • uploads///MA XLF
    Miscellaneous

    XLF May Cross Its 100-Day Moving Average: Is It Time to Buy?

    The Financial Select Sector SPDR ETF (XLF) attracts the most attention among financial ETFs in the US. 87% of the fund is composed of large-cap stocks.

    By Rebecca Keats
  • Financials

    An investor’s guide to financial intermediation and key risks

    Financial intermediation can result in concentration of risks that increase the fragility of the financial system. These risks are referred to as systemic risks.

    By Phalguni Soni
  • uploads///Earnings suprise
    Earnings Report

    BlackRock Misses 1Q16 Estimates on Declining Global Equities

    BlackRock (BLK) reported its 1Q16 earnings on April 14, 2016. The company missed Wall Street analysts’ adjusted EPS estimates of $4.29, posting EPS of $4.25.

    By Robert Karr
  • uploads///XLF MA
    Company & Industry Overviews

    Financial ETF XLF Traded below Its Moving Averages on December 11

    This series analyzes investors’ sentiments toward the financial sector in the major global regions: the United States, Europe, China, Japan, and the Emerging Market economies.

    By Rebecca Keats
  • uploads///Valuations
    Macroeconomic Analysis

    WisdomTree Trades at a Premium due to High Growth

    WisdomTree stock is currently trading at 29x on a one-year forward earnings basis. In comparison, its peers are trading at 16.2x.

    By Robert Karr
  • uploads///MA XLF
    Company & Industry Overviews

    XLF Is above Its 20-Day Moving Average: Is This a Bullish Sign?

    On February 19, the Financial Select Sector SPDR ETF (XLF) closed at $20.98. This is 10% and 6% below its 100-day and 50-day moving averages, respectively.

    By Rebecca Keats
  • uploads///Payout
    Earnings Report

    State Street’s Asset Position: Still a Concern in 1Q16?

    As of the fourth quarter of 2015, State Street (STT) reported average total assets that were 10.6% lower than 4Q14.

    By Robert Karr
  • uploads///alle
    Consumer

    Trian Fund lowers its position in Allegion

    Allegion provides security solutions for homes and businesses, employing more than 8,000 people and selling products in more than 120 countries across the world. Allegion reported third-quarter 2014 net revenues of $546.7 million, up 3.3% compared to the previous year.

    By Patricia Garner
  • uploads///toph
    Financials

    Key overview of Marcato Capital’s 3Q14 position

    Marcato manages a select number of passive and activist investments across all industries with a primary focus on opportunities in middle-market public equities. At the end of 3Q14, the fund’s U.S. long portfolio was worth $2.81 billion, slightly up from $1.89 billion in 2Q14.

    By Patricia Garner
  • uploads///Repurchase
    Earnings Report

    BlackRock Rewards with Higher Dividends and Repurchases

    BlackRock has repurchased $1.1 billion worth of its own stock over the past four quarters. In 1Q16, the company’s stock repurchases were worth $300 million.

    By Robert Karr
  • uploads///Earnings expectation
    Company & Industry Overviews

    Asset Managers to See Growth on Diversified Offerings in 1Q18

    The recent fall in stocks globally is expected to put some pressure on asset managers’ (VFH) operating performances in 1Q18.

    By Robert Karr
  • uploads///XLF MA
    Company & Industry Overviews

    XLF Traded in Bear Country All Last Week

    The largest financial ETF, XLF well represents the entire financial sector because it invests in banks, insurance, asset management companies, and REITs.

    By Rebecca Keats
  • uploads///car
    Consumer

    Avis stock accounts for 5.84% of Marcato Capital portfolio

    Marcato Capital added to its position in Avis Budget Group (CAR) . The stock accounted for 5.84% of the fund’s portfolio for the quarter ending in September.

    By Patricia Garner
  • uploads///lea
    Consumer

    Lear stock accounts for 11% of Marcato portfolio

    Marcato Capital added to its position in Lear corporation (LEA) during 3Q14. The stock accounted for 11.13% of the fund’s portfolio for the quarter ending in September.

    By Patricia Garner
  • uploads///mdlz
    Consumer

    Trian Fund adds position in Mondelez International

    Mondelez is a global snacking powerhouse and a world leader in biscuits, chocolate, gum, candy, coffee, and powdered beverages. It owns billion-dollar brands and reported net revenues of $8.4 billion.

    By Patricia Garner
  • uploads///IR
    Consumer

    Trian Fund reduces its stake in Ingersoll-Rand

    Ingersoll-Rand is a global diversified firm. The company’s reported revenues increased 5% to $3,385 million, beating estimates by 6%. It expects revenues for full-year 2014 to increase by approximately 4%.

    By Patricia Garner
  • uploads///BRP
    Consumer

    Marcato eliminates position in Brookfield Residential Properties

    In 3Q14, Marcato Capital sold a position in Brookfield Residential Properties Inc. (BRP). The stock accounted for 0.6% of the fund’s portfolio for the second quarter ending in June.

    By Patricia Garner
  • uploads///part  financials
    Financials

    Berkshire Hathaway’s Banking Holdings in Q1

    Among Berkshire Hathaway’s financial holdings, JPMorgan Chase was the worst performer, while Goldman Sachs was the top performer.

    By Mohit Oberoi, CFA
  • uploads///money _
    Energy & Utilities

    How Warren Buffett’s Investment Philosophy Has Evolved

    Berkshire Hathaway trimmed stakes in Apple, Wells Fargo, Southwest Airlines, United Continental, Phillips 66, and Charter Communications in the fourth quarter.

    By Mohit Oberoi, CFA
  • uploads///part  faang
    Consumer

    Did Buffett Miss the Bus on Apple?

    Berkshire Hathaway (BRK-B) is Apple’s second-largest shareholder.

    By Mohit Oberoi, CFA
  • uploads///
    Consumer

    Buffett to Investors: ‘Focus on the Forest, Forget the Trees’

    One of the world’s most successful investors of all times, Warren Buffett believes in investing for the long term.

    By Jitendra Parashar
  • uploads///part
    Company & Industry Overviews

    Buffett’s Love for Banking Stocks Continued in Q4

    Berkshire Hathaway is the largest shareholder in Wells Fargo (WFC), Bank of America (BAC), U.S. Bancorp (USB), and American Express (AXP).

    By Mohit Oberoi, CFA
  • uploads///part  aaple
    Company & Industry Overviews

    Key Changes in Berkshire Hathaway’s Holdings in Q3

    Looking at Berkshire Hathaway’s third-quarter 13F, the company added more Apple shares and added a new position in JPMorgan Chase.

    By Mohit Oberoi, CFA
  • uploads///Analyst
    Financials

    How Wall Street Rates BlackRock and Asset Managers

    Analysts gave BlackRock a price target of $613.15 on an NTM basis.

    By Robert Karr
  • uploads///
    Company & Industry Overviews

    Apple in Ireland: Looking beyond the Tax Dispute

    iPhone sales accounted for as much as a quarter of Ireland’s economic growth in 2017.

    By Ruchi Gupta
  • uploads///analysts
    Company & Industry Overviews

    Analyzing Wall Street’s Views on E*TRADE Financial

    E*TRADE Financial Corporation (ETFC) is covered by 16 analysts in March 2018, of which nine are suggesting a “strong buy” and two have given “hold” ratings.

    By Raymond Anderson
  • uploads///PS
    Company & Industry Overviews

    What’s behind the Rise in E*TRADE’s Non-Interest Expenses?

    E*TRADE Financial Corporation (ETFC) incurred total non-interest expenses amounting to $1.47 billion in 2017, which implies an increase of 17% YoY (year-over-year).

    By Raymond Anderson
  • uploads///EBITDA
    Company & Industry Overviews

    E*TRADE’s Views on the New Tariffs

    Since President Trump has levied tariffs on aluminum and steel imports, they might lead to a trade war if the affected countries take the same road, as China did.

    By Raymond Anderson
  • uploads///net income margin
    Company & Industry Overviews

    E*TRADE’s Views on the Fed Meeting and Expectations

    As expected, the Federal Reserve raised interest rates by 0.25% in March, marking the first increase of 2018.

    By Raymond Anderson
  • uploads///Analysts
    Company & Industry Overviews

    What Wall Street Has to Say about Charles Schwab

    The Charles Schwab Corporation (SCHW) was covered by 20 analysts in February 2018, of whom six suggested a “hold” and one recommended a “sell.”

    By Raymond Anderson
  • uploads///Rel Val
    Company & Industry Overviews

    Analyzing Charles Schwab’s Premium Valuations

    The Charles Schwab Corporation’s (SCHW) price-to-book ratio stands at 3.57x on an NTM (next-12-months) basis.

    By Raymond Anderson
  • uploads///DY
    Company & Industry Overviews

    What Charles Schwab Has to Say about the Economy in 2018

    The Charles Schwab Corporation’s (SCHW) management reflected positive views of the overall outlook for 2018.

    By Raymond Anderson
  • uploads///ROIC
    Company & Industry Overviews

    Charles Schwab’s New COO and Client Behavior Report

    The Charles Schwab Corporation (SCHW) announced that Joseph R. Martinetto will be its new COO.

    By Raymond Anderson
  • uploads///SCHW image
    Company & Industry Overviews

    Charles Schwab Reports January 2018 Numbers

    In January 2018, The Charles Schwab Corporation (SCHW) saw core net new assets of $18.7 billion.

    By Raymond Anderson
  • uploads///Analyst ratings
    Financials

    Why Wall Street Is Long on BlackRock Post-Rout

    Wall Street analysts are expecting a limited upside for asset managers (VFH) as well as broader indexes in 2018.

    By Robert Karr
  • uploads///Valuation
    Company & Industry Overviews

    BlackRock’s Valuations Stable amid Strong Operating Performance

    BlackRock is currently trading at a forward price-to-earnings ratio of 17.6x, compared with the industry average of 18.6x.

    By Robert Karr
  • uploads///Earnings expectation
    Company & Industry Overviews

    BlackRock and Competitors Look at Strong 1Q18 Numbers

    Among the major asset managers, BlackRock (BLK) is expected to post sequential and year-over-year growth in earnings per share to $6.38 in 1Q18 and $6.83 in 2Q18.

    By Robert Karr
  • uploads///Analyst ratings
    Financials

    Wall Street Analysts Long on Asset Managers in 2018

    Analysts gave BlackRock a price target of $614.92 on a next-12-month basis.

    By Robert Karr
  • uploads///Repurcahses
    Company & Industry Overviews

    BlackRock Shareholder Payouts Rise amid Strong Growth

    BlackRock’s (BLK) board approved a 15.0% increase in quarterly dividends to $2.88 payable in March 2018.

    By Robert Karr
  • uploads///DY
    Company & Industry Overviews

    How Tax Reform Could Impact Charles Schwab

    Charles Schwab (SCHW) is expected to release its 4Q17 earnings on January 17, 2018. Wall Street analysts have given a low estimate of $0.39 and a high estimate of $0.45 on earnings per share (or EPS) for 4Q17.

    By Raymond Anderson
  • uploads///Valuations
    Company & Industry Overviews

    How Premium Are BlackRock’s Premium Valuations Going into 2018?

    BlackRock’s (BLK) outperformance, estimate beats, and new assets have helped the company command premium valuations.

    By Robert Karr
  • uploads///Analysts
    Financials

    Wall Street Rates BlackRock High in the Industry for 2018

    Asset managers (VFH) have had “buy” to “hold” ratings in recent months since equities are expected to be upbeat in the next few quarters.

    By Robert Karr
  • uploads///Rel val
    Earnings Report

    State Street’s Valuation after 3Q17 Results

    State Street (STT) has a one-year forward PE (price-to-earnings) ratio of 14.72x, representing a discounted valuation.

    By Raymond Anderson
  • uploads///profit margin
    Earnings Report

    Breakdown of State Street’s Assets under Management

    State Street (STT) has a total AUM (assets under management) of $2.7 trillion in 3Q17. Of the total AUM, equity contributed $1.6 trillion.

    By Raymond Anderson
  • uploads///EPS
    Earnings Report

    What the World’s Biggest Asset Manager Earned in 1Q17

    BlackRock (BLK), the world’s largest asset manager, is expected to post earnings per share (or EPS) of $4.88 for 1Q17 on April 13, 2017, a rise of 14.8% year-over-year.

    By Robert Karr
  • uploads///BK EPS
    Earnings Report

    BNY Mellon’s Third Quarter Earnings Top Estimates

    Bank of New York Mellon (BK) reported 3Q earnings on October 20. The company’s adjusted earnings of $0.90 per share beat consensus estimates of $0.81 and were 22% higher year-over-year.

    By Rebecca Keats
  • uploads///BK Exps
    Earnings Report

    How BNY Mellon’s Cost Control Measures Are Boosting Profits

    Bank of New York Mellon (BK) has been focusing extensively on efficiency through cost controls to boost its profitability.

    By Rebecca Keats
  • uploads///GS EPS
    Earnings Report

    How Equity Trading Revenues Continue to Weigh on Goldman Sachs

    Goldman Sachs reported 2Q16 earnings of $3.72 per share. It beat consensus estimates of $3.08. It was higher than the EPS of $1.98 reported in 2Q15.

    By Rebecca Keats
  • uploads///Non interest income
    Earnings Report

    PNC Financials’ Non-Interest Income Ratio Continues to Expand

    PNC Financial’s non-interest income for 2Q16 increased by 10% over the previous quarter, mainly due to higher fee income growth.

    By Robert Karr
  • uploads///Earnings and estimates
    Earnings Report

    How Do BlackRock’s Net Income and AUM Look amid Uncertainty?

    BlackRock has become the world’s largest asset manager in just two decades. The company is managing $4.7 trillion in assets.

    By Robert Karr
  • uploads///Profitability
    Earnings Report

    Will BlackRock See Margins Dip Marginally in 2Q16?

    BlackRock is focusing on its iShares and retail offerings, which will help it scale up its assets under management as well as increase its margins.

    By Robert Karr
  • uploads///iShares
    Earnings Report

    BlackRock’s iShares Expected to Expand in 2Q16

    BlackRock’s (BLK) iShares had assets under management (or AUM) of $1.1 trillion as of March 31, 2016. The company continues to bring in innovative themes to address investor needs.

    By Robert Karr
  • uploads///Repurchase
    Macroeconomic Analysis

    BlackRock Declared $2.29 in Dividends in 1Q16

    In 1Q16, BlackRock declared a total dividend per share of $2.29, an increase of 5% compared to the corresponding quarter last year.

    By Robert Karr
  • uploads///US Investment Grade Bond Market Issuance
    Company & Industry Overviews

    Did Investment-Grade Corporate Bond Issuance Rebound Last Week?

    Investment-grade corporate bonds worth $27.0 billion were issued in the primary market in the week ending April 29, 2016.

    By Lynn Noah
  • uploads///Total IG Bond Issuance in WE Apr
    Company & Industry Overviews

    Who Had the Largest High-Grade Bond Issuance Last Week?

    Emerging markets dominated the primary market for high-grade bonds in the week ending April 29, making up 47.4%, or $12.8 billion, of all issues.

    By Lynn Noah
  • uploads///Revenues
    Earnings Report

    Could Foreign Exchange Become a State Street Tailwind in 2016?

    Foreign exchange revenues fell 14.9% to $143 million in 4Q15 due to lower currency volatility and client-related volumes.

    By Robert Karr
  • uploads///AUM
    Earnings Report

    State Street’s Product Innovation: The Key to AUM Base in 2016?

    State Street engages in the management of assets for its institutional as well as retail clients. Its AUM declined to $2.2 trillion in the December quarter of 2015.

    By Robert Karr
  • uploads///BNY EPS
    Earnings Report

    BNY Mellon’s 1Q16 Earnings Beat Estimates, Stock Gains 2.5%

    The world’s second-largest custody bank, BNY Mellon (BK) reported its first-quarter earnings on April 21. The company’s earnings of $0.73 per share beat consensus estimates of $0.67 and were 9% higher year-over-year.

    By Rebecca Keats
  • uploads///Valuation
    Earnings Report

    How BlackRock Has Maintained Its Premium Valuations amid Slowing Growth

    BlackRock has historically traded at a premium compared to its peers. It is currently trading at a premium forward price-to-earnings ratio of 16.6x.

    By Robert Karr
  • uploads///Institutional
    Earnings Report

    BlackRock Institutional Is Investing in Fixed Income

    BlackRock’s (BLK) institutional assets under management (or AUM) were $2.8 trillion as of March 31, 2016. Institutional AUM formed 63% of the company’s total AUM.

    By Robert Karr
  • uploads///Retail
    Macroeconomic Analysis

    BlackRock Expects to Attract Funds from Retail Clientele in 2016

    BlackRock’s Retail segment had AUM of $541 billion as of December 31, 2015. Retail’s AUM formed 13% of the company’s total AUM.

    By Robert Karr
  • uploads///Revenues
    Earnings Report

    International Equities, Strong Dollar Fuel State Street’s Revenue

    State Street (STT) reported total revenues of $2.6 billion in 4Q15, down 2.7% from $2.7 billion in 4Q14.

    By Robert Karr
  • uploads///Payout
    Earnings Report

    State Street Maintains Its High Payout Ratio, Dividend Rises

    State Street (STT) has historically paid out most of its profits in dividends. The company increases its dividend per share in line with performance.

    By Robert Karr
  • uploads///AUM
    Macroeconomic Analysis

    Janus Targets Outside the US to Expand Managed Assets

    Janus Capital (JNS) is focusing on attracting capital outside the United States. Its 20% assets under management are currently from international investors compared to just 8% in 2010.

    By Robert Karr
  • uploads///XLF Risks
    Macroeconomic Analysis

    Key Risks Involved in Investing in XLF

    Risks associated with investing in the Financial Select Sector SPDR ETF (XLF) include passive risk, index tracking risk, and sector concentration risk.

    By Rebecca Keats
  • uploads///Expenses
    Macroeconomic Analysis

    Analyzing WisdomTree’s Compensation and Marketing Initiatives

    WisdomTree’s compensation and benefits expense increased by 94.3% from the third quarter of 2014 to $19.4 million, forming 47% of total expenses.

    By Robert Karr
  • uploads///XLF MA
    Company & Industry Overviews

    The XLF ETF Crossed above Its 50-Day Moving Average on November 6

    This series analyzes investor sentiment toward the US financial sector, particularly on subsectors such as regional banks, insurance, and capital market ETFs.

    By Rebecca Keats
  • uploads///Stock
    Macroeconomic Analysis

    WisdomTree Investments Has Returned 33% in the Past Year

    WisdomTree Investments’ (WETF) stock has returned approximately 33% over the past year ending November 11. It is currently trading at $20.70.

    By Robert Karr
  • uploads///Valuations
    Earnings Report

    State Street Trades at a Discount on Servicing and Management

    Currently, State Street is trading at a one-year forward price-to-earnings ratio of 12.5x compared to the industry average of 14.5x.

    By Robert Karr
  • uploads///AUM
    Earnings Report

    State Street Assets Under Management and Servicing Fall

    State Street’s assets under management fell by 9% to $2.2 trillion as on September 30, 2015, as compared to $2.4 trillion as on September 30, 2014.

    By Robert Karr
  • uploads///Stock
    Earnings Report

    State Street Income Falls on Equity Valuations, Interest Rates

    State Street reported its 3Q15 earnings on October 23, 2015. It missed analysts’ operating earnings per share estimates, posting operating EPS of $1.16.

    By Robert Karr
  • uploads///Valuation
    Earnings Report

    BlackRock Trades at a Premium on Its Strong Operating Performance

    Currently, BlackRock is trading at a premium, with a price-to-earnings ratio of 15.6x compared to the industry average of 13.2x.

    By Robert Karr
  • uploads///Stock Repurchases
    Earnings Report

    BlackRock Rewards Shareholders through Repurchases and Dividends

    BlackRock has repurchased $1.1 billion worth of its own stock over the past four quarters. In 3Q15, the company repurchased stock worth $275 million.

    By Robert Karr
  • uploads///Stock
    Earnings Report

    BlackRock 3Q15: Net Income Declines, Earnings Beats the Estimates

    BlackRock, the world’s biggest asset manager, reported its 3Q15 earnings on October 14, 2015. The company beat analysts’ estimates, posting EPS of $5.00.

    By Robert Karr
  • uploads///Loans
    Macroeconomic Analysis

    Loan Balances Grew amid Low Interest Rate Environment in 2Q15

    In the second quarter of 2015, US banks witnessed a growing loan portfolio backed by low interest rates and improving economic fundamentals.

    By Rebecca Keats
  • uploads///DXY Aug
    Macroeconomic Analysis

    Key Takeaways from the Jackson Hole Symposium

    The annual Jackson Hole Symposium attracts a high-profile audience including finance ministers, central bankers, and academics from around the world.

    By David Meyer
  • uploads///babedaabdecebfcdcaeafbe
    Company & Industry Overviews

    XLF Invests in Banks and Faces Concentration Risk

    Launched in December 1998, the Financial Select Sector SPDR ETF (XLF) is an ETF that’s comprised of roughly 90 securities with $18.1 billion in assets.

    By Rebecca Keats
  • uploads///KKR capsyone
    Company & Industry Overviews

    KKR Capstone: An institutionalized process of creating value

    KKR has institutionalized the process of creating value in its portfolio companies through KKR Capstone.

    By Robert Karr
  • uploads///Comparables
    Company & Industry Overviews

    Why does BlackRock trade at a premium?

    Over the years, BlackRock (BLK) has been trading at a premium—compared to other companies and the industry average.

    By Robert Karr
  • uploads///wayfair rev
    Fund Managers

    Viking Global’s Wayfair ownership falls after W’s share count rises

    In November 2014, Wayfair declared its quarterly results and reported revenues of $336.2 million, an increase of 41.2% year-over-year and above what analysts had expected.

    By Adam Rogers
  • uploads///mohawk energy
    Fund Managers

    Mohawk Industries drives growth by reducing energy consumption

    In order to increase its bottom line and decrease its carbon footprint, Mohawk is focusing on optimizing overall energy consumption.

    By Adam Rogers
  • uploads///ILLUMINA GOBAL REV
    Fund Managers

    Why Illumina’s outlook is so bright

    Illumina’s outlook is outstanding, as it has posted excellent 3Q14 results and its earnings continue to be bullish.

    By Adam Rogers
  • uploads///BK
    Fund Managers

    Horseman Capital raises position in BNY Mellon

    Available in more than 100 markets worldwide, BNY Mellon’s services enable institutions and individuals to manage and service their financial assets.

    By Diana Key
  • uploads///TJX
    Fund Managers

    Horseman Capital raises its position in TJX Companies

    Horseman increased its position in TJX Companies (TJX) during 4Q14. The stock accounts for 8.93% of the firm’s total portfolio, up from 6.22% of the fund’s 3Q14 portfolio.

    By Diana Key
  • uploads///Positions
    Fund Managers

    Overview of Horseman Capital’s 4Q14 positions

    Horseman Capital covers various equity strategies, and most of its equity portfolio consists of companies with market capital of $5 billion and above.

    By Diana Key
  • Financials

    Must-know: Why regulations could affect bank profitability

    The regulations designed to make banks less risky may impair the global banking sector’s profitability going forward.

    By Russ Koesterich, CFA
  • Financials

    Overview: What makes custodian banks different from other banks?

    Custodian banks like a warehouse and store other financial institutions’ and individuals’ assets—they help in keeping financial instruments safe.

    By Saul Perez
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