Custodian risks are being overlooked, says law firm
Guy Facey, regional head of corporate at Withers Hong Kong, says not enough attention is being paid to the risks associated with custody agreements.
Why are you highlighting custody agreements as an overlooked risk area?
In the financial press the focus is mainly on counterparty risk on bank deposits and obligations pursuant to loans, other financing arrangements, derivative transactions or debt securities. What is often easily overlooked is that similar risks can arise even where assets are custodied with banks.
Why should there be any counterparty risk for custodian agreements?
Where the bank is custodian, it assumes responsi…
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