| Northern Trust | State Street | UMB Bank | U.S. Bancorp | ||
| BASIC SERVICES | |||||
| Credit financing | Y | Y | Y | Y | |
| Letters of credit | N | Y | Y | Y | |
| Real-time custody reporting | Y | Y | Y | Y | |
| Service for tri-party repurchase agreements | Y | Y | Y | Y | |
| Tri-party repurchase agreements/ equity collateral | Y | Y | Y | Y | |
| Foreign exchange services | Y | Y | Y | Y | |
| Tax reclaim services | Y | Y | Y | Y | |
| Regulatory filings | Y | Y | Y | Y | |
| Financial statement preparation | Y | Y | Y | Y | |
| Domestic proxy services | Y | Y | Y | Y | |
| Overseas proxy services | Y | Y | Y | Y | |
| Cash management services | Y | Y | Y | Y | |
| Charge separately for cash movements and FX | Y | Y | Y | Y | |
| Fund accounting services | Y | Y | Y | Y | |
| Fund administration services | Y | Y | Y | Y | |
| Transfer agent services | Y | Y | Y | Y | |
| Full-service brokerage domestically | Y | Y | Y | N | |
| Full-service brokerage overseas | N | Y | Y | N | |
| Pre-trade portfolio compliance | Y | N | Y | Y | |
| Post-trade portfolio compliance | Y | Y | Y | Y | |
| On-line compliance data | Y | Y | Y | Y | |
| Treasury services | Y | Y | Y | Y | |
| Partnership accounting | Y | Y | Y | Y | |
| Proprietary dial-up lines | Y | Y | Y | Y | |
| Government securities clearance services | N | Y | Y | Y | |
| Disaster recovery plans | Y | Y | Y | Y | |
| STIF vehicles | Y | Y | Y | Y | |
| Agency securities lending | Y | Y | Y | Y | |
| Non-custody lending | Y | Y | Y | Y | |
| Sub-advisory investment services | Y | Y | Y | Y | |
| Draft processing for check-writing | Y | Y | Y | Y | |
| ACH and EFT services | Y | Y | Y | Y | |
| Performance measurement | Y | Y | Y | Y | |
| Risk analysis | Y | Y | Y | Y | |
| M&A advisory services | N | Y | N | Y | |
| Proprietary funds for creating spokes | Y | Y | N | Y | |
| Interest on cash in foreign currency | Y | Y | Y | Y | |
| Disclosing spread on interest paid/cash balances | N | Y | Y | Y | |
| Client workstations | Y | Y | Y | Y | |
| Support for fund of funds activity | Y | Y | Y | Y | |
| Support for master/feeder structures | Y | Y | Y | Y | |
| Daily consolidated cash forecasting | Y | Y | Y | Y | |
| Check disbursement services for dividends | Y | Y | Y | Y | |
| Straight-through processing | Y | Y | Y | Y | |
| Automated reconciliation | Y | Y | Y | Y | |
| SECURITIES LENDING | |||||
| # Countries where can lend | 35 | 34 | 1 | ** | |
| # Countries lending | N/A | 34 | 1 | ** | |
| % Mutual fund assets participating | ** | 36 | 1 | 1.82 | |
| % of Lendable portfolio on loan | ** | 10 | N/A | 0.38 | |
| PARTICIPATING ORGANIZATIONS | |||||
| Federal Reserve | Y | Y | Y | Y | |
| Depository Trust | Y | Y | Y | Y | |
| Euroclear | Y | Y | N | Y | |
| Clearstream | Y | Y | N | Y | |
| Emerging Market Networks | Y | Y | N | Y | |
| INTERNET SERVICES | |||||
| Client workstation accessible via the Internet | Y | Y | Y | Y | |
| Client access to on-line market information | Y | Y | Y | Y | |
| Internet home page | Y | Y | Y | Y | |
| Clients access information through home page | Y | Y | Y | Y | |
| Communicate with clients using the Internet | Y | Y | Y | Y | |
| SUBCUSTODIAL RELATIONSHIPS | |||||
| Europe | Y | Y | Y | Y | |
| Asia | Y | Y | Y | Y | |
| Middle East | Y | Y | Y | Y | |
| Africa | Y | Y | Y | Y | |
| Latin America/Central America/ Caribbean | Y | Y | Y | Y | |
**Not reported