[9243]
September 12, 1997
TO: BANK AND TRUST ADVISORY COMMITTEE No. 9-97
RE: DTC’S TRUST FUND/SERV AGREEMENT AND FUND/SERV INTERFACE
PARTICIPANT AGREEMENT
______________________________________________________________________________
Enclosed are DTCs Trust Fund/SERV Agreement and Fund/SERV Interface
Participant Agreement. The Bank and Trust Advisory Committee ("BTAC") previously received
draft versions of these agreements. The Trust Fund/SERV Agreement is the model agreement
developed by the BTAC modified to enable DTC to execute one agreement with each fund
company on behalf of all of DTCs bank and trust participants. The Fund/SERV Interface
Participant Agreement will be signed by DTCs bank and trust participants that want to
participate in Fund/SERV through DTC. Comments received from BTAC members by DTC on
the draft agreements have been incorporated into the enclosed final agreements.
The concept of signing one Trust Fund/SERV Agreement with DTC, as an alternative to
signing multiple agreements with individual trust companies, has been strongly supported by
the mutual fund industry. We urge the fund companies on the Bank and Trust Advisory Committee to
make this concept a reality by signing the enclosed Trust Fund/SERV Agreement and returning it to
DTC for their execution. Similarly, bank and trust members of the BTAC that are interested in
participating in Fund/SERV through DTC should sign the Fund/SERV Interface Participant
Agreement. Signed agreements should be sent to:
Mr. Vito P. Limitone
Consultant
The Depository Trust Company
55 Water Street
New York, NY 10041
Fax (212)855-5320
At the Bank and Trust Advisory Committee meeting on October 14, 1997, a list of the
fund companies and the banks and trusts that have signed DTCs Trust Fund/SERV
Agreement and Fund/SERV Interface Participant Agreement respectively will be provided.
BTAC meeting participants will have an opportunity to provide a status of where their
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organization stands with respect to executing the agreements and to discuss any open issues
relating to the agreements at that time.
Questions or comments may be directed to Vito Limitone at (212)855-5313 or Diane
Butler at (202)326-5847. We look forward to seeing you on October 14th in Denver.
Frank Litwin Diane Butler
Chairman - Bank & Trust Advisory Committee Director - Operations & Fund Custody
Enclosures (in .pdf format)