Summary: Trust & Custody Services Bank Ltd. May 11
- ID: 1810670
- May 2011
- Standard & Poors
Trust & Custody Services Bank Ltd. (TCSB; A+/Stable/A-1) was established by Mizuho Trust & Banking Co. Ltd. (A+/Stable/A-1) and four major life insurers, including Dai-ichi Life Insurance Co. Ltd. (A/Negative/--). TCSB specializes in asset administration. The bank faces extremely low credit risk and market risk. It does not run general loan operations, nor does it generally accept assets with principal guarantees in its trust accounts. The major risk facing the bank is operational risk, but Standard & Poor's Ratings Services believes that this risk affects the bank less than other trust banks providing asset management services. TCSB has access to a large customer base through its five parent institutions. Although the asset administration business is characterized by high expense ratios...
Companies mentioned in this report are: Trust & Custody Services Bank Ltd.
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
SHOW LESS READ MORE >