BNY Mellon Expands

New York - The Bank of New York Mellon has been selected by Goldman Sachs and Rabobank to serve as collateral agent for the first domestic Korean equity tri-party financing trade. This is believed to be the first time the tri-party structure has been used to complete a Korean equity financing.

This new mandate spotlights a service used extensively by The Bank of New York Mellon's clients outside of Korea to support the financing of a wide range of collateralized transactions, including stock loans, derivative transactions, and equity and fixed income repos, including Korean securities.

Acting in its role as intermediary between Goldman Sachs, as lender of securities, and Rabobank, as borrower, The Bank of New York Mellon maintains cash and securities accounts, verifies collateral eligibility, marks to market securities pledged as collateral, processes income and provides daily reporting to both parties.