Safekeeping Services


The Bank of America, N.A. (BANA) Safekeeping Department provides a broad range of custody and securities clearing services, freeing our customers from the details of daily securities management while providing protection for the securities on deposit in the safekeeping account.  Bank of America, N.A. is an approved custodian by various State and Governmental agencies.  The Charlotte, North Carolina based operations team provides trade settlement, securities clearance, and payment processing services for nearly $60 billion in client assets.

Safekeeping services

  • Centralized control of assets

  • Book-entry custody of securities with approved depositories/custodians

  • Interest disbursals on payable date

  • Monitoring and processing of called bonds

  • Prompt redemption of matured securities

  • Pledging and substitutions and releases of pledged securities

  • Delivery of securities through book-entry clearing systems and depositories

  • Facilitating settlement of directed securities transactions purchased or sold through broker-dealers

  • Asset verification statements of holdings

  • Receipts and/or confirms for purchases and sales

  • Access to our comprehensive web-based account management tool, CashPro Invest

All book-entry U.S. government and government agency securities are held at an appropriate regional Federal Reserve Bank.  Most other securities, including physical securities, are safe-kept at Bank of New York Mellon and the DTC to facilitate clearing and collection on a book-entry basis.

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