Off-Book Currency definition
Off-Book Currency means a currency which is not held on the Custodian’s balance sheet but rather is held directly by the Trust with a Custodial Agent or foreign custodian in an Off-Book Cash Account.
Examples of Off-Book Currency in a sentence
In such event, Off-Book Currency will be held in an Off-Book Cash Account pursuant to such Custodial Agent Custody Agreement.
In such event, Off-Book Currency will be held in an account at the Custodial Agent (an “Off-Book Cash Account”) pursuant to such custody agreement, and, to the extent agreed by the Custodian and the Fund, the Custodian may provide consolidated reporting with respect to such Off-Book Cash Account, but shall have no custodial responsibility or liability with respect to such assets or reporting.
In addition, in connection with options transactions in a Portfolio, the Custodian is authorized to pledge Assets or Off-Book Currency of the Portfolio as collateral for such transactions in accordance with industry practice.