News & Press: News

DTC LOI

Thursday, April 30, 2020  
Posted by: Holly Braly
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The STA supports the use of the attached Letter of Indemnity (LOI) in place of receiving the actual physical certificate while DTCC is not able to process physical securities.  The use of the LOI will only be for limited exception processing on restricted items, bond redemptions and maturities, and time-sensitive corporate action items and not daily processing volumes.  DTC will work with each individual  transfer agent to facilitate the LOI process for  appropriate transactions. Once DTC is able to access the certificates processed under the LOI, they will work to send the certificates to the transfer agent following the process performed during SuperStorm Sandy.

 

Please be aware that DTC will reassess the current circumstances and provide an update on Friday, May 15, 2020.

 

We will continue to keep you apprised of any updates.

dtc-sta_loi_final_4.28.2020.pdf

 


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