ESMA_QA_1138
01/10/2016
Subject Matter
KIID Collateral management
Original question
When there is transfer of title, can the collateral be held by a custodian that is not the depositary of the UCITS?
ESMA Answer
01-10-2016
Original language
[ESMA 34-43-392 UCITS Q&A, section 3, Q&A 6e]
Yes, but only if the UCITS’ depositary has delegated the custody of the collateral to a sub-custodian and the depositary remains liable if the collateral is lost by the sub-custodian.
Status: Answer Published
Additional Information
Level 1 Regulation
Undertakings for Collective Investment in Transferable Securities Directive (UCITS) Directive 2009/65/EC
Topic
UCITS eligible assets and investment restrictions