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This pathway will walk us through the basics of banks, starting with some of the different types and their main functions, then starting to look at the regulation faced by the banks, both before and after the Global Financial Crisis.

Greenwashing

Greenwashing is the act of distributing false information about something being more environmentally friendly than it actually is.

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Tackling the Cost of Living Crisis

In this video, Max discusses the cost-of-living crisis currently enveloping the UK. He examines its impact on households as well as the overall economy.

CSR and Sustainability in Financial Services

In the first video of this two-part video series, Elisa introduces us to sustainability. She begins by looking at the difference between sustainability and corporate social responsibility, two terms that can be easily confused.

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Banking Essentials - Part I

This pathway will walk us through the basics of banks, starting with some of the different types and their main functions, then starting to look at the regulation faced by the banks, both before and after the Global Financial Crisis.

Greenwashing

Greenwashing is the act of distributing false information about something being more environmentally friendly than it actually is.

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Plans & Membership

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Expert led content

+1,000 expert presented, on-demand video modules

Learning analytics

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Engage with our video hotspots and knowledge check-ins

Testing & certification

Gain CPD / CPE credits and professional certification

Managed learning

Build, scale and manage your organisation’s learning

Integrations

Connect Finance Unlocked to your current platform

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More featured content

Tackling the Cost of Living Crisis

In this video, Max discusses the cost-of-living crisis currently enveloping the UK. He examines its impact on households as well as the overall economy.

CSR and Sustainability in Financial Services

In the first video of this two-part video series, Elisa introduces us to sustainability. She begins by looking at the difference between sustainability and corporate social responsibility, two terms that can be easily confused.

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What is a Central Securities Depository?

What is a Central Securities Depository?

Peter Eisenhardt

30 years: Capital markets & investment banking

Central Securities Depositories, or CSDs, were developed in the 1960s from a crisis built on excessive trading volumes which threatened to swamp settlement systems. In this short video, Peter explains how CSDs function and their uses.

Central Securities Depositories, or CSDs, were developed in the 1960s from a crisis built on excessive trading volumes which threatened to swamp settlement systems. In this short video, Peter explains how CSDs function and their uses.

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What is a Central Securities Depository?

1 min 38 secs

Key learning objectives:

  • Describe the scope and additional features CSDs provide

  • Understand why CSDs were developed

  • Outline the examples of major CSDs

Overview:

Central Securities Depositories (CSDs) were developed so that the securities industry could move towards “dematerialisation” and avoid swamping the settlement systems.

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Summary

Why were Central Securities Depositories developed?

Central Securities Depositories (CSDs) were developed so that securities remained in a single place. This is often called “immobilisation”, which eliminates the need for delivery and endless movements of paper certificates through messengers.  Ownership records are simply kept in the form of electronic book-entry.

Who holds the accounts at CSDs?

Custodians hold accounts at CSDs.

What is the scope of countries embracing CSDs and dematerialisation?

More than 25 countries across the world have moved to full dematerialisation - where paper certificates are eliminated altogether.

In the U.S., government and municipal bonds and mutual funds are dematerialised. In some countries, legal and regulatory changes are needed before physical certificates can finally be replaced.

Do CSDs provide services other than electronic book-entry?

Yes, CSDs can also provide a range of additional services including data, securities lending, custody, collateral management, and payments.

What are some examples of CSDs?

Major CSDs include:
  • DTCC - the U.S.
  • Euroclear and Clearstream - Europe
  • NSDL - India
  • CSDC - China
  • JASDEC - Japan

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Peter Eisenhardt

Peter Eisenhardt

Peter has over 30 years experience working in banking. He has held several senior positions in international investment banks. Peter is now the Secretary General of the International Council of Securities Associations

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