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Summary: Trust & Custody Services Bank Ltd. May 11 Product Image

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.
Action: Review

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