Structure for entrusting assets (Sai-Shintaku)

Structure

The base trust agreement (e.g. an agreement for Shitei-tan and an agreement for Tokkin), which had been concluded between a customer and Sumitomo Mitsui Trust Bank and/or Resona Bank, remains to be valid, provided a clause that «the trust assets and a part of securities processing services could be entrusted to a third party» is added.

·Sumitomo Mitsui Trust Bank and/or Resona Bank conclude the trust agreement (Sai-Shintaku agreement) with JTSB, under which Sumitomo Mitsui Trust Bank and/or Resona Bank entrust trust assets and a part of securities processing services to JTSB.

Role and Responsibility of Parties

Sumitomo Mitsui Trust Bank and/or Resona Bank (as a trustee of the base trust agreement)

  • Primary contacts with customer
  • Responsible for an appointment and supervision of JTSB(as a settlor of Sai-Shintaku agreement)
  • Exercise of the supervisory right against JTSB

Japan Trustee Services Bank (as a trustee of Sai-Shintaku agreement)

  • Responsible for customers in the same way and same degree with the trustee of base trust agreement based on the tripartite agreement concluded with customers and Sumitomo Mitsui Trust Bank and/or Resona Bank.