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ASSETS UNDER CUSTODY We have sized the custody market and have prepared a series of tables which rank custodians by the size of their assets under custody. To view the tables, select from menu items in the left-hand column. Included in the tables is the aggregate value of assets under custody. CUSTODY ASSETS: DOMESTIC AND CROSS-BORDER Industry practice is to distinguish worldwide custody assets between domestic assets (those held in the home country) and cross-border assets (those held in the rest of the world). We encourage service providers to distinguish between domestic and cross-border assets according to the home country of each customer (rather than the country of their head office) as we consider that this paints a more meaningful picture. However, some custodians do not report figures according to this preferred definition because their systems do not allow. SUB-CUSTODY ASSETS? In the total figure, there is a degree of double-counting with some assets being reported by banks acting in the capacity of sub-custodian (for global custodians) and also by the corresponding global custodians. To deal with this, we accommodate analysis to identify those assets managed directly as custodian -- and those held as sub-custodian. DRIVERS OF GROWTH Global custodians are entrusted with the safekeeping and processing of huge volumes of securities. Recent years have seen a dramatic growth in the value of assets under custody. This high growth rate is expected to continue, driven by a combination of global trends:
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