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The Private Custodian Bank Rating is a client-specific custodian rating based on the contractual, legal and service positions entered into between the client and its custodian. The private rating is maintained on a confidential basis and is only made available to the commissioning client, the custodian bank and Thomas Murray. It is not made public. The process for producing the private rating is similar to that for a 'public' rating and, most significantly, reflects the terms, conditions and service levels specific to that client, rather than being the terms offered to all clients generally.
Where the private rating is issued as part of a global custodian review, i.e., conducted by Thomas Murray on behalf of the client, the custodian rating is based on the terms, service levels and representations committed to by the custodian during the review, and the due diligence carried out on the custodian as part of the review.
Where the private rating is not linked to a Thomas Murray review, it will be necessary for the custodian to provide information to Thomas Murray by way of responses to a questionnaire, in a similar manner to the public rating. In addition, Thomas Murray will draw on publicly available information sources to determine the rating and will also conduct a operational review. A draft rating and report is prepared, reviewed and approved by the Thomas Murray Ratings Policy Board. Feedback is obtained from the client and custodian before the rating and report are finalised.
A Outlook status and outlook view is added to the private rating similar to that added to the public custody rating.
For further information please contact Simon Thomas, Chief Ratings Officer, or Roger Fishwick, Director of Ratings, Tel: +44 (0)20 7830 8300
"Danske Bank A/S rated AA- with 'stable' outlook for Danish domestic custody by Thomas Murray."
September, 2004
"Thomas Murray raises its overall French domestic custody rating on IXIS Investor Services from AA- to AA."
18 May, 2005
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