<Li> The Bank of New York Mellon </Li> <Li> State Street Bank and Trust Company </Li> <P> In relation to American depositary receipts (ADRs), a local custodian bank (also known as a sub-custodian or agent bank) is a bank in a country outside the United States that holds the corresponding number of shares of stock trading on the home stock market represented by an ADR trading in the USA, with each multiple representing some multiple of the underlying foreign share . This multiple allows the ADRs to possess a price per share conventional for the US market (typically between $20 and $50 per share) even if the price of the foreign share is unconventional when converted to US dollars directly . This bank acts as custodian bank for the company that issues the ADRs in the US stock . </P> <P> The following companies offer custodian bank services: </P>

The primary function of the custodian bank is to