2001 04 30 IOSCO-CPSS Comment Ltr FINAL

THE ASSOCIATION OF GLOBAL CUSTODIANS The Bank of New York Counsel to the Association: Brown Brothers Harriman Baker & McKenzie The Chase Manhattan Bank 815 Connecticut Avenue, NW Citibank, N.A. Washington, D.C. 20006 Deutsche Bank AG Investors Bank & Trust Company Telephone: 202/452-7013 Mellon Trust/Boston Safe Deposit Facsimile: -7074 & Trust Company The Northern Trust Company State Street Bank and Trust Company April 30, 2001 VIA FACSIMILE AND AIR COURIER Secretariat to the CPSS-IOSCO Joint Task Force on Securities Settlement Systems Bank for International Settlements CH-4002 Basel, Switzerland Re: Recommendations For Securities Settlement Systems: Report of the CPSS-IOSCO Joint Task Force on Securities Settlement Systems Ladies and Gentlemen: The Association of Global Custodians ("Association"), an informal group of nine 1banks that are major providers of global custody services to institutional investors, submits this letter in response to the January 2001 Consultative Report of the CPSS-IOSCO Joint Task Force on Securities Settlement Systems. The Association appreciates the opportunity to comment on the Joint Task Force's recommendations. We recognize that the consultation period closed on April 9, 2001, and apologize for submitting this letter after the comment deadline. The Association has a deep interest in the standards that apply to the financial infrastructure through which ...