ABN Amro wins another outsourced derivatives collateral management contract.

Financial News, January, 2004

Byline: Natasha de Terán

The Asian Development Bank has outsourced its derivatives collateral management activities to ABN Amro. As part of the same arrangement ABN Amro Mellon Global Securities Services has also been appointed to act as global custodian for all ADB's collateral.The deal is a coup for ABN which is building up its collateral management activities. In a similar deal last year ABN took over the European Investment Bank's (EIB) derivatives collateral management, as well as the EIB's related custody activities.

Under the latest agreement, ABN will act as collateral agent to the ADB and assume responsibility for marking the bank's derivatives collateral to market, making margin calls and settling transactions.

ADB's decision...