The Association of Global Custodians: 2003 - 2004 Questionnaire

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SCOPE, STRUCTURE, OWNERSHIP, CAPITAL, REGULATION AND AUDIT The purpose of this section is to understand the ownership structure and financial strength of your institution, as well as the level of regulatory and operational supervision to which it is subject. Scope, Structure, Ownership
1	Rule 17f-7, by reference to Rule 17f-4, requires that, for a depository to be eligible to hold securities of U.S. registered investment companies (such depositories hereinafter referred to as “Eligible Securities Depositories”), the depository must be a “system for the central handling of securities where all securities of any particular class or series of any issuer deposited within the system are treated as fungible and may be transferred or pledged by bookkeeping entry without physical delivery of the securities.” In particular, are all securities of a particular class or series of any issuer that are deposited in your institution treated as fungible, and can they be transferred or pledged by bookkeeping entry without physical delivery of the securities? Yes No  - then answer 1a Other  - then answer 1a 1a. Please explain:
2	Rule 17f-7 also requires that an Eligible Securities Depository “acts as or operates a system for the central handling of securities or equivalent book-entries in the country where it is incorporated,” or “acts as or operates a transnational system for the central handling of securities or equivalent book-entries.” Does your institution: (Choose all that apply.) Act as or operate a system for the central handling of securities or equivalent book-entries in the country where it is incorporated? Act as or operate a transnational system for the central handling of securities or equivalent book-entries? Act in another capacity with respect to the handling of securities or equivalent book-entries?  - then answer 2a Not applicable  - then answer 2a Other  - then answer 2a 2a. Please explain:
3	What type of legal entity is the institution? (Choose all that apply.) Public Company Private Company Central Bank (or part thereof) Stock Exchange (or part thereof) Other  - then answer 3a 3a. If other, please explain:
4	Is the institution operated as a "for profit" or a "not for profit" organization? For profit Not for profit Other  - then answer 4a 4a. If other, please explain:
5	Please provide the names of the owners and their ownership interest percentages. Exchanges (29%) Banks (30%) Pension Funds (30%) Life Insurance Cos. (10%) Others (1%)
6	What is the date of establishment of the depository? March 1993
7	What is the date that the depository's operations began? September 1995
8	Under what regulation or statute is the depository established and governed? Under law 18.876 and its regulation.   - then answer 8a 8a. Is the regulation or statute electronically available? Yes  - then answer 8b No 8b. If regulation or statute is electronically available, please supply web address or upload document. Ley 18876.876 Refundido 8c. If more than one link or document, please supply additional information here: 8d. If more than one link or document, please supply additional information here: 8e. If more than one link or document, please supply additional information here: 8f. If more than one link or document, please supply additional information here:
9	Rule 17f-7 requires that an Eligible Securities Depository “is regulated by a foreign financial regulatory authority as defined under section 2(a)(50) of the Act”, with section 2(a)(50) establishing that “’foreign financial regulatory authority’ means any (A) foreign securities authority, (B) other governmental body or foreign equivalent of a self-regulatory organization empowered by a foreign government to administer or enforce its laws relating to the regulation of fiduciaries, trusts, commercial lending, insurance, trading in contracts of sale of a commodity for future delivery, or other instruments traded on or subject to the rules of a contract market, board of trade or foreign equivalent, or other financial activities, or (C) membership organization a function of which is to regulate the participation of its members in activities listed above.” Who regulates the activities of the depository? (Choose all that apply.) A governmental body or regulatory organization empowered to administer or enforce laws related to securities matters. A governmental body or self-regulatory organization empowered to administer or enforce laws related to other financial activities. A membership organization which regulates the participation of its members in securities matters or other financial activities. Other.  - then answer 9a 9a. Please explain:
10	Please provide the name of the regulatory authority(ies) identified in question 9: Superintendencia de Valores y Seguros de Chile (SVS)
11	Rule 17f-7 requires that an Eligible Securities Depository “is subject to periodic examination by regulatory authorities or independent accountants.” Is the depository subject to periodic examination by: (Choose all that apply.) Regulatory authorities? Independent accountants? Other.  - then answer 11a 11a. Please explain: Vigilance Committee which is composed of 5 representatives of the participants. Internal Auditors.
12	What enforcement actions are available to the regulatory authority(ies) for breach of applicable statute or regulatory requirements? (Choose all that apply.) Name of Authority (1): Superintendencia de Valores y Seguros de Chile (SVS)   - then answer 12a 12a. Fines. Restrictions on depository activities. Suspension of depository activities. Termination of depository activities. Other.  - then answer 12b 12b. Please explain: Written reprimand 12c. Name of Authority (2):   - then answer 12d 12d. Fines. Restrictions on depository activities. Suspension of depository activities. Termination of depository activities. Other.  - then answer 12e 12e. Please explain:
13	Has there been any use of such enforcement actions in the last three years? Yes  - then answer 13a No Other  - then answer 13a 13a. If yes or other, please explain:
Capital
14	Are annual financial statements publicly disclosed? Yes  - then answer 14a No  - then answer 14c Other  - then answer 14h 14a. If yes, the AGC requests a copy of the institution's annual report. Is the annual report available electronically? Yes  - then answer 14b No. (If no, please send a copy of the annual report to the Washington office of Baker & McKenzie, 815 Connecticut Ave, NW, Washington, DC 20006, Attn: Brian C. Herbert) 14b. If yes, please upload the document here or insert web link: Annual Report 14f. If more than one document for 14b, please upload the additional document here or insert web link: 14g. If more than one document for 14b, please upload the document here or insert web link: 14c. If no, and annual report and/or financial statements are not disclosed, please state your share capital, reserves, and retained earnings (or equivalents as determined under local accounting standards). Share Capital:   - then answer 14d 14d. Reserves:   - then answer 14e 14e. Retained Earnings: 14h. If other, please explain:
Audit With respect to the depository's financial audit
15	Do internal auditors perform a financial audit? (Choose all that apply.) Yes  - then answer 15a No  ›› take you to 16 Other  - then answer 15g 15a. If Yes, which department in your depository handles the financial audit? Audit Department.   - then answer 15b 15b. How frequently does the financial audit occur? (Choose one.) Two or more times a year  - then answer 15d Annually  - then answer 15d Less than Annually  - then answer 15c Other. Please explain in 15c.  - then answer 15c 15c. If less than annually or other, please explain: 15d. Are results of the financial audit publicly available? Yes  - then answer 15e No  - then answer 15e 15e. Please select the statement that most accurately characterizes the results of the last financial audit: (Choose one.) No material exceptions found. Minor exceptions found.  - then answer 15f Material exceptions found.  - then answer 15f Other  - then answer 15f 15f. If minor, material or "other" exceptions were found, what actions were taken? Please describe: 15g. If other, please explain:
16	Do independent external auditors perform a financial audit? (Choose all that apply.) Yes  - then answer 16a No  ›› take you to 17 Other  - then answer 16h 16a. If yes, what is the name of the accountant/accounting firm that handles the financial audit? Ernst & Young   - then answer 16b 16b. How frequently does the financial audit occur? (Choose one.) Two or more times a year  - then answer 16d Annually  - then answer 16d Less than Annually  - then answer 16c Other. Please explain in 16g.  - then answer 16g 16c. If less than annually, please explain: 16d. Are results of the financial audit publicly available? Yes  - then answer 16e No  - then answer 16e Other  - then answer 16i 16e. Please select the statement that most accurately characterizes the results of the last financial audit: (Choose one.) No material exceptions found. Minor exceptions found.  - then answer 16f Material exceptions found.  - then answer 16f Other  - then answer 16f 16f. If minor, material or "other" exceptions were found, what actions were taken? Please describe: 16i. If other, please explain: 16g. If other, please explain: 16h. If other, please explain:
17	Do regulatory authorities perform a financial audit? (Choose all that apply.) Yes  - then answer 17a No  ›› take you to 18 Other  - then answer 17h 17a. If Yes, what is the name of the regulatory authority that handles the financial audit? Superintendencia de Valores y Seguros de Chile (SVS)   - then answer 17b 17b. How frequently does the financial audit occur? (Choose one.) Two or more times a year  - then answer 17d Annually  - then answer 17d Less than Annually  - then answer 17c Other. Please explain in 17g.  - then answer 17g 17c. If less than annually, please explain: 17d. Are results of the financial audit publicly available? Yes  - then answer 17e No  - then answer 17e 17e. Please select the statement that most accurately characterizes the results of the last financial audit: (Choose one.) No material exceptions found. Minor exceptions found.  - then answer 17f Material exceptions found.  - then answer 17f Other  - then answer 17f 17f. If minor, material or "other" exceptions were found, what actions were taken? Please describe: 17g. If other, please explain: 17h. If other, please explain:
18	Do any other auditors perform a financial audit? (Choose all that apply.) Yes  - then answer 18a No  ›› take you to 19 Other  - then answer 18h 18a. If Yes, please explain and identify by name?   - then answer 18b 18b. How frequently does the financial audit occur? (Choose one.) Two or more times a year  - then answer 18d Annually  - then answer 18d Less than Annually  - then answer 18c Other. Please explain in 18g.  - then answer 18g 18c. If less than annually, please explain: 18d. Are results of the financial audit publicly available? Yes  - then answer 18e No  - then answer 18e 18e. Please select the statement that most accurately characterizes the results of the last financial audit: (Choose one.) No material exceptions found. Minor exceptions found.  - then answer 18f Material exceptions found.  - then answer 18f Other  - then answer 18f 18f. If minor, material or "other" exceptions were found, what actions were taken? Please describe: 18g. If other, please explain: 18h. If other, please explain:
With respect to the depository's operational audit
19	Do internal auditors perform an operational audit? (Choose all that apply.) Yes  - then answer 19a No  ›› take you to 20 Other  - then answer 19g 19a. If Yes, which department in your depository handles the operational audit? Audit Department.   - then answer 19b 19b. How frequently does the operational audit occur? (Choose one.) Two or more times a year Annually Less than Annually  - then answer 19c Other. Please explain in 19c.  - then answer 19c 19c. If less than annually or other, please explain: 19d. Are results of the operational audit publicly available? Yes  - then answer 19e No  - then answer 19e 19e. Please select the statement that most accurately characterizes the results of the last operational audit: (Choose one.) No material exceptions found. Minor exceptions found.  - then answer 19f Material exceptions found.  - then answer 19f Other  - then answer 19f 19f. If minor, material or "other" exceptions were found, what actions were taken? Please describe: 19g. If other, please explain:
20	Do independent external accountants perform an operational audit? (Choose all that apply.) Yes  - then answer 20a No  ›› take you to 21 Other  - then answer 20h 20a. If Yes, what is the name of the accountant/accounting firm that handles the operational audit? Ernst & Young   - then answer 20b 20b. How frequently does the operational audit occur? (Choose one.) Two or more times a year  - then answer 20d Annually  - then answer 20d Less than Annually  - then answer 20c Other. Please explain in 20g.  - then answer 20g 20c. If less than annually, please explain: 20d. Are results of the operational audit publicly available? Yes  - then answer 20e No  - then answer 20e 20e. Please select the statement that most accurately characterizes the results of the last operational audit: (Choose one.) No material exceptions found. Minor exceptions found.  - then answer 20f Material exceptions found.  - then answer 20f Other  - then answer 20f 20f. If minor, material or "other" exceptions were found, what actions were taken? Please describe: 20g. If other, please explain: 20h. If other, please explain:
21	Do regulatory authorities perform an operational audit? (Choose all that apply.) Yes  - then answer 21a No  ›› take you to 22 Other  - then answer 21h 21a. If Yes, what is the name of the regulatory authority that handles the operational audit? Superintendencia de Valores y Seguros de Chile (SVS)   - then answer 21b 21b. How frequently does the operational audit occur? (Choose one.) Two or more times a year  - then answer 21d Annually  - then answer 21d Less than Annually  - then answer 21c Other. Please explain in 21g.  - then answer 21g 21c. If less than annually, please explain: Auditing is infrequent and SVS has the power to audit whenever they choose. 21d. Are results of the operational audit publicly available? Yes  - then answer 21e No  - then answer 21e 21e. Please select the statement that most accurately characterizes the results of the last operational audit: (Choose one.) No material exceptions found. Minor exceptions found.  - then answer 21f Material exceptions found.  - then answer 21f Other  - then answer 21f 21f. If minor, material or "other" exceptions were found, what actions were taken? Please describe: 21g. If other, please explain: 21h. If other, please explain:
22	Do any other auditors perform an operational audit? (Choose all that apply.) Yes  - then answer 22a No  ›› take you to 23 Other  - then answer 22h 22a. If Yes, please explain and identify by name: There is an instance called Vigilance Committee, administrated directly by participants . Its rules are expressed in the law.   - then answer 22b 22b. How frequently does the operational audit occur? (Choose one.) Two or more times a year  - then answer 22d Annually  - then answer 22d Less than Annually  - then answer 22c Other. Please explain in 22g.  - then answer 22g 22c. If less than annually, please explain: 22d. Are results of the operational audit publicly available? Yes  - then answer 22e No  - then answer 22e 22e. Please select the statement that most accurately characterizes the results of the last operational audit: (Choose one.) No material exceptions found. Minor exceptions found.  - then answer 22f Material exceptions found.  - then answer 22f Other  - then answer 22f 22f. If minor, material or "other" exceptions were found, what actions were taken? Please describe: 22g. If other, please explain: 22h. If other, please explain:
PARTICIPANTS AND PARTICIPATION The purpose of the section is to understand issues relating to participation in the depository, including eligibility requirements, conditions of participation, and supervision of participants. Participant Eligibility Requirements
23	What types of entities are eligible to become participants and how many of each type are there currently? (Choose all that apply.) Banks  - then answer 23a Brokers  - then answer 23b Individuals  - then answer 23c Foreign Institutions  - then answer 23d Other entities.  - then answer 23e Not applicable 23a. How many Bank participants are there currently? 25   - then answer 23g 23g. Please select the features included in the eligibility requirements for Banks. (Choose all that apply.) Financial Thresholds  - then answer 23h Regulatory Oversight  - then answer 23h Market Experience  - then answer 23h Other. Please explain in 23q.  - then answer 23q 23h. Where can a description of the specific eligibility requirements for Bank participants be found? Depository law (law 18876). 23q. Please explain: 23b. How many Broker participants are there currently? 39   - then answer 23i 23i. Please select the features included in the eligibility requirements for Brokers. (Choose all that apply.) Financial Thresholds  - then answer 23j Regulatory Oversight  - then answer 23j Market Experience  - then answer 23j Other. Please explain in 23r.  - then answer 23r 23j. Where can a description of the specific eligibility requirements for Broker participants be found? Depository law (law 18876). 23r. If other, please explain: 23c. How many Individual participants are there currently?   - then answer 23k 23k. Please select the features included in the eligibility requirements for Individual participants. (Choose all that apply.) Financial Thresholds  - then answer 23l Regulatory Oversight  - then answer 23l Market Experience  - then answer 23l Other. Please explain in 23t.  - then answer 23t 23l. Where can a description of the specific eligibility requirements for Individual participants be found? 23t. If other, please explain: 23d. How many Foreign Institution participants are there currently? 0   - then answer 23m 23m. Please select the features included in the eligibility requirements for Foreign Institution participants. (Choose all that apply.) Financial Thresholds  - then answer 23n Regulatory Oversight  - then answer 23n Market Experience  - then answer 23n Other. Please explain in 23u.  - then answer 23u 23n. Where can a description of the specific eligibility requirements for Foreign Institution participants be found? Depository law (law 18876). 23u. If other, please explain: 23e. If you have selected "Other entities" above, please explain: Some institutions like banks, brokers, mutual funds, investment funds, foreign investment funds, pension funds, insurance companies and stock exchanges can apply directly, because they are explicitly authorized by the depository law (law 18.876). “Others institutions” can apply, and it is up to the depository’s board of directors to make a decision or to grant permission (70% of directors).   - then answer 23f 23f. Indicate how many "Other entities" are currently participants? 71   - then answer 23o 23o. Please select the features included in the eligibility requirements for the participants referred to above as "Other entities". (Choose all that apply.) Financial Threshold  - then answer 23p Regulatory Oversight  - then answer 23p Market Experience  - then answer 23p Other. Please explain in 23s.  - then answer 23s 23p. Where can a description of the specific eligibility requirements for participants describe above as "Other entities" be found? Depository law (law 18876). 23s. If other, please explain:
24	Are participants required to contribute capital to the depository that would result in ownership of the depository? Yes  - then answer 24a No Not applicable Other  - then answer 24b 24a. If yes, what fixed amount is required or what formula is used to determine the appropriate contribution level? 24b. If other, please explain:
25	Are prospective participants subject to an initial review and approval process regarding compliance with eligibility requirements? Yes No Not applicable Other  - then answer 25a 25a. If other, please explain:
Conditions of participation
26	What governs the relationship between the depository and the participants? (Choose all that apply.) Relevant law and regulation Standard participation contract Established terms and conditions of participation By-laws of the depository Rules of the depository Other  - then answer 26a Not applicable 26a. Please explain:
27	Rule 17f-7 requires that an Eligible Securities Depository “holds assets for the custodian that participates in the system on behalf of the Fund under safekeeping conditions no less favorable that the conditions that apply to other participants.” Please confirm that assets of foreign investors held by custodians as participants in the depository are held under safekeeping conditions no less favorable than the conditions that apply to other participants. Yes No  - then answer 27a Not applicable  - then answer 27a Other  - then answer 27a 27a. If no, other or not applicable, please explain:
28	How does the depository notify participants of material changes to the conditions of participation? (Choose all that apply.) By e-mail By telephone By public announcement By press release Other  - then answer 28a Not applicable 28a. Please explain: By letter sent to the participants.
Governance of participants
29	Who enforces compliance with the depository’s conditions of participation? (Choose all that apply.) The depository The exchange The depository's regulator Other  - then answer 29a Not applicable 29a. Please explain:
30	What enforcement actions are available to the enforcement authority? (Choose all that apply.) Fines Restrictions on participation Suspension of participation Termination of participation Other  - then answer 30a Not applicable 30a. Please explain:
31	Has there been any such enforcement actions in the last three years? Yes  - then answer 31a No Not applicable Other  - then answer 31b 31a. If yes, please explain, including information relative to any suspensions of depository participants: 31b. If other, please explain:
DEPOSITORY FUNCTIONALITY AND SERVICES; USE OF AGENTS Certain functionalities and services reduce risk to an investor if provided in an efficient manner. The purpose of this section is to identify those functionalities that may potentially be offered by depositories and clearing systems around the world, and ascertain whether they are offered by your institution. General
32	For which of the following security types do you serve as a depository or clearing system? (Choose all that apply.) Government Securities  - then answer 32b Equities  - then answer 32c Corporate Bonds  - then answer 32d Corporate Money Market Instruments  - then answer 32e Others  - then answer 32a Not applicable 32a. Please name the other security types: Bank bonds, mortgage bonds, certificates of deposit.   - then answer 32f 32f. Please name other depositories and clearing systems that handle the same securities listed in "Others" in your market: Depósito Central de Valores S.A., Depósito de Valores (DCV) is the only institution in the country. 32b. Please name other depositories and clearing systems that handle Government Securities in your market: DCV is the only institution in the country. 32c. Please name other depositories and clearing systems that handle Equities in your market: DCV is the only institution in the country. 32d. Please name other depositories and clearing systems that handle Corporate Bonds in your market: DCV is the only institution in the country. 32e. Please name other depositories and clearing systems that handle Corporate Money Market Instruments in your market: DCV is the only institution in the country.
Government Securities Settlements
33	Is the use of the depository in your market compulsory by law or compulsory by market practice for the settlement of government securities? (Please note that responses to questions 33 through 42 should be consistent with questions 73 and 74.) By law  - then answer 33a By market practice  - then answer 33a Neither/other  - then answer 33b Not applicable 33a. What is the percentage of the total market of government securities in your jurisdiction (either volume or value) settled within your institution, exclusive of your links with third parties? 33b. If neither/other, please explain: It is only compulsory by law for brokers. For the other participants it is compulsory by market practice.
Government Securities Safekeeping
34	Is the use of the depository in your market compulsory by law or compulsory by market practice for the safekeeping of government securities? (Choose all that apply.) (Please note that responses to questions 33 through 42 should be consistent with questions 73 and 74.) By law  - then answer 34a By market practice  - then answer 34a Neither/other  - then answer 34b Not applicable 34a. What is the percentage of the total market of government securities in your jurisdiction (either volume or value) held in safekeeping within your institution? 34b. If neither/other, please explain: It is only compulsory by law for pension funds, due to 90% of pension funds assets shall be deposited in the depository. For the other participants it is compulsory by market practice.
Equities Settlements
35	Is the use of the depository in your market compulsory by law or compulsory by market practice for the settlement of equities? (Choose all that apply.) (Please note that responses to questions 33 through 42 should be consistent with questions 73 and 74.) By law  - then answer 35a By market practice  - then answer 35a Neither/other  - then answer 35b Not applicable 35a. What is the percentage of the total market of equities in your jurisdiction (either volume or value) settled within your institution, exclusive of your links with third parties? 35b. If neither/other, please explain: It is only compulsory by law for brokers. For the other participants it is compulsory by market practice.
Equities Safekeeping
36	Is the use of the depository in your market compulsory by law or compulsory by market practice for the safekeeping of equities? (Choose all that apply.) (Please note that responses to questions 33 through 42 should be consistent with questions 73 and 74.) By law  - then answer 36a By market practice  - then answer 36a Neither/other  - then answer 36b Not applicable 36a. What is the percentage of the total market of equities in your jurisdiction (either volume or value) held in safekeeping within your institution? 36b. If neither/other, please explain: It is only compulsory by law for pension funds, due to 90% of pension funds assets shall be deposited in the depository. For the other participants it is compulsory by market practice.
Corporate Bonds Settlements
37	Is the use of the depository in your market compulsory by law or compulsory by market practice for the settlement of corporate bonds? (Choose all that apply.) (Please note that responses to questions 33 through 42 should be consistent with questions 73 and 74.) By law  - then answer 37a By market practice  - then answer 37a Neither/other  - then answer 37b Not applicable 37a. What is the percentage of the total market of corporate bonds in your jurisdiction (either volume or value) settled within your institution, exclusive of your links with third parties? 37b. If neither/other, please explain: It is only compulsory by law for brokers. For the other participants it is compulsory by market practice.
Corporate Bonds Safekeeping
38	Is the use of the depository in your market compulsory by law or compulsory by market practice for the safekeeping of corporate bonds? (Choose all that apply.) (Please note that responses to questions 33 through 42 should be consistent with questions 73 and 74.) By law  - then answer 38a By market practice  - then answer 38a Neither/other  - then answer 38b Not applicable 38a. What is the percentage of the total market of corporate bonds in your jurisdiction (either volume or value) held in safekeeping within your institution? 38b. If neither/other, please explain: It is only compulsory by law for pension funds, due to 90% of pension funds assets shall be deposited in the depository. For the other participants it is compulsory by market practice.
Corporate Money Market Instruments Settlements
39	Is the use of the depository in your market compulsory by law or compulsory by market practice for the settlement of corporate money market instruments? (Choose all that apply.) (Please note that responses to questions 33 through 42 should be consistent with questions 73 and 74.) By law  - then answer 39a By market practice  - then answer 39a Neither/other  - then answer 39b Not applicable 39a. What is the percentage of the total market of corporate money market instruments in your jurisdiction (either volume or value) settled within your institution, exclusive of your links with third parties? 39b. If neither/other, please explain: It is only compulsory by law for brokers. For the other participants it is compulsory by market practice.
Corporate Money Market Instruments Safekeeping
40	Is the use of the depository in your market compulsory by law or compulsory by market practice for the safekeeping of corporate money market instruments? (Choose all that apply.) (Please note that responses to questions 33 through 42 should be consistent with questions 73 and 74.) By law  - then answer 40a By market practice  - then answer 40a Neither/other  - then answer 40b Not applicable 40a. What is the percentage of the total market of corporate money market instruments in your jurisdiction (either volume or value) held in safekeeping within your institution? 40b. If neither/other, please explain: It is only compulsory by law for pension funds, due to 90% of pension funds assets shall be deposited in the depository. For the other participants it is compulsory by market practice.
Other Eligible Securities Settlements
41	Is the use of the depository in your market compulsory by law or compulsory by market practice for the settlement of other eligible securities? (Choose all that apply.) (Please note that responses to questions 33 through 42 should be consistent with questions 73 and 74.) By law  - then answer 41a By market practice  - then answer 41a Neither/other  - then answer 41c Not applicable 41a. What is the percentage of the total market of other eligible securities in your jurisdiction (either volume or value) settled within your institution, exclusive of your links with third parties?   - then answer 41b 41b. Please provide description of the other securities: 41c. If neither/other, please explain: It is only compulsory by law for brokers. For the other participants it is compulsory by market practice.
Other Eligible Securities Safekeeping
42	Is the use of the depository in your market compulsory by law or compulsory by market practice for the safekeeping of other eligible securities? (Choose all that apply.) (Please note that responses to questions 33 through 42 should be consistent with questions 73 and 74.) By law  - then answer 42a By market practice  - then answer 42a Neither/other  - then answer 42c Not applicable 42a. What is the percentage of the total market of other eligible securities in your jurisdiction (either volume or value) held in safekeeping within your institution?   - then answer 42b 42b. Please provide description of the other securities: 42c. If neither/other, please explain: It is only compulsory by law for pension funds, due to 90% of pension funds assets shall be deposited in the depository. For the other participants it is compulsory by market practice.
43	Are there any activities performed by a third party for which the depository would assume responsibility on behalf of participants (e.g., vaulting of physical securities, registration, entitlement processing, etc.)? Yes  - then answer 43a No Not applicable Other  - then answer 43g 43a. If agents are employed, please indicate which services they supply:   - then answer 43b 43b. If agents are employed, do you assume responsibility for losses that may arise due to the actions or inactions of the agent(s)? Yes  - then answer 43c No 43c. If you acknowledge responsibility, please indicate whether your responsibility is assumed (Choose all that apply.) regardless of whether such loss was caused by any action or inaction of the agent;  - then answer 43d if such loss was caused by the agent's action or inaction and such action or inaction was deemed to be negligence on the part of the agent;  - then answer 43d if such loss was caused by the agent's action or inaction and such action or inaction was deemed to be gross negligence on the part of the agent;  - then answer 43d if the loss was caused by the willful default or other willful conduct on the part of the agent;  - then answer 43d Other  - then answer 43h 43d. If you acknowledge responsibility for agents, your responsibility is assumed for losses (Choose all that apply.) without limit. which are not consequential losses. subject to a monetary limit not based on insurance limits.  - then answer 43e subject to a monetary limit based on insurance limits.  - then answer 43f Other  - then answer 43i 43e. Please specify limit: 43f. Please specify limit: 43i. If other, please explain: 43h. If other, please explain: 43g. If other, please explain:
44	Has any participant suffered any losses in the past three years due to the depository’s performance? Yes  - then answer 44a No Not applicable Other  - then answer 44m 44a. If yes, please select all of the following in which loss has occurred. You will be prompted to enter the number of instances and total loss in USD thereafter. (Choose all that apply.) Corporate Action  - then answer 44b Settlement Process - Securities  - then answer 44c Settlement Process - Cash  - then answer 44d System Outage  - then answer 44e Other  - then answer 44f 44b. Corporate Action. Please specify number of instances:   - then answer 44g 44g. Corporate Action. Please specify total loss in USD. 44c. Settlement Process - Securities. Please specify number of instances:   - then answer 44h 44h. Settlement Process - Securities. Please specify total loss in USD: 44d. Settlement Process - Cash. Please specify number of instances:   - then answer 44i 44i. Settlement Process - Cash. Please specify total loss in USD: 44e. System Outage. Please specify number of instances:   - then answer 44j 44j. System Outage. Please specify total loss in USD: 44f. If Other, please explain:   - then answer 44k 44k. For Other, please specify number of instances:   - then answer 44l 44l. For Other, please specify total loss in USD: 44m. If other, please explain:
Other Services
45	Who accepts cash deposits for depository transactions? (Choose all that apply.) Depository Central Bank Banks appointed by depository.  - then answer 45a Others  - then answer 45b Not applicable 45a. Please name banks: 45b. If others, please explain: Banks. The seller receives a cashier check and deposits it in his bank account. These documents have the guarantee of the Central Bank of Chile, in case any Commercial Bank can not pay the funds due to liquidity problems.
46	Who processes cash clearing for depository transactions? (Choose all that apply.) Depository Central Bank Banks appointed by depository.  - then answer 46a Others  - then answer 46b Not applicable 46a. Please name banks appointed by depository: 46b. If others, please explain:
47	Who controls the movement of cash for cash deposits? (Choose all that apply.) Depository Central Bank Banks appointed by depository.  - then answer 47a Others  - then answer 47b Not applicable 47a. Please name banks appointed by depository: 47b. If others, please explain: 1. Buyer goes to the seller and pays the trades with a cashier check. These documents have the guarantee of the Central Bank of Chile. 2. Seller receives the payment and registers this in the depository system. 3. Securities are transferred to the buyer account.
48	Who controls the movement of cash for cash clearing? (Choose all that apply.) Depository Central Bank Banks appointed by depository.  - then answer 48a Others  - then answer 48b Not applicable 48a. Please name banks appointed by depository: 48b. If others, please explain:
49	Please indicate services you provide. (Choose all that apply.) Information in advance on corporate (annual or special) meetings in order that owners can vote. Tax assistance where foreign holders may be entitled to tax relief at source or through a claim. In order to avoid fails, an automatic securities lending facility - if requested - is provided for:  - then answer 49a Collateral handling in support of activities including securities lending, overdraft coverage, cash management, repurchase agreements, etc. Please provide details  - then answer 49c Same day turnaround settlements. Information on distribution of new issues (IPO, Privatization). Other.  - then answer 49d Not applicable 49a. Automatic securities lending facility is provided for: (Choose all that apply.) Brokers Banks Other Financial Institutions Other  - then answer 49b 49b. If Other, please explain: 49c. Collateral Handling: Please provide details: 49d. If Other services, please explain:
50	What procedures are in place for the collection of corporate action entitlements? (Choose all that apply.) Credited to the securities account on the day indicated below regardless of whether actually collected by the depository on the scheduled date  - then answer 50a Credited to the securities account upon actual receipt by the depository. Corporate action entitlements are handled by an entity separate from the depository.   - then answer 50c Not applicable. Other. Please explain in 50d.  - then answer 50d 50a. Credited to the securities account: (Choose all that apply.) On pay date. On pay date +1. On pay date +2. Other.  - then answer 50b 50b. If other, please explain: 50c. Name of entity: Registrars and Transfers Agents. In some cases is the same corporation and in others are services providers. 50d. If other, please explain:
51	What is the average percentage of entitlements that have actually been collected by the depository when the credits are made to the participant accounts? 0
52	What procedures are in place for the collection of interest and dividends? (Choose all that apply.) Credited to the cash account on the day indicated below regardless of whether actually collected by the depository on the scheduled date  - then answer 52a Credited to the cash account upon actual receipt by the depository. Income and dividend collection is handled by an entity separate from the depository.  - then answer 52c Not applicable. Other. Please explain in 52d.  - then answer 52d 52a. Credited to the cash account: (Choose all that apply.) On pay date. On pay date +1. On pay date +2. Other.  - then answer 52b 52b. If other, please explain: 52c. Name of entity: Commercial banks. The depository calculates the amount of interest and dividends and then notifies the participants to claim the payments which are due to them. And in turn advises to the issuers of their forthcoming payments to depository’s participants. 52d. If other, please explain:
53	What is the average percentage of income receipts which have actually been collected by the depository from issuers or paying agents when the credits are made to the participant accounts? 0
Linkages with Other Central Securities Depositories (CSD) or International Central Securities Depositories (ICSD)
54	Please identify the existence and scope of electronic processing linkages with foreign depositories or settlement systems: Do you have any electronic processing linkages with foreign depositories or settlement systems? Yes No  ›› take you to 63 Other. Please explain in 54a.  - then answer 54a and  ›› take you to 63 Not applicable  ›› take you to 63 54a. If other, please explain:
55	If yes, identify entity, name of CSD or ICSD with which linkage has been established (if more than one, you will be prompted to enter their name at the end of this series of questions):   - then answer 55a 55a. Is the linkage Unilateral or Bilateral? (For an explanation of unilateral linkage and bilateral linkage, click on the "Help" button on the tool bar on the right side of this page.) (Choose all that apply.) Unilateral  - then answer 55b Bilateral  - then answer 55b Not applicable Other  - then answer 55l 55b. Does an intermediary provide interface to depository? Yes  - then answer 55c No  - then answer 55d 55c. If yes, name intermediary: 55d. Is cross listing on the other exchange mandatory for usage of depository linkages? Yes  - then answer 55e No  - then answer 55e 55e. Is Delivery-vs.-payment settlement possible? Yes No Other. Please explain in 55j.  - then answer 55j 55f. Is Free-of-payment settlements required? Yes No Other. Please explain in 55k.  - then answer 55k 55k. If other, please explain: 55g. Timing of transfers: How are they effected? (Choose all that apply.) Batch mode Real time Not applicable Other  - then answer 55m 55m. If other, please explain: 55h. What is the percentage of all trades settled at your institution with this CSD or ICSD link? 55i. Do you have any additional electronic processing linkages with foreign depositories or settlement systems? Yes. If so please proceed to next question. No  ›› take you to 60 Other  - then answer 55n 55n. If other, please explain: 55j. If other, please explain: 55l. If other, please explain:
56	If yes, identify entity, name of CSD or ICSD with which linkage has been established (if more than one, you will be prompted to enter their name at the end of this series of questions):   - then answer 56a 56a. Is the linkage Unilateral or Bilateral? (For an explanation of unilateral linkage and bilateral linkage, click on the "Help" button on the tool bar on the right side of this page.) (Choose all that apply.) Unilateral  - then answer 56b Bilateral  - then answer 56b Not applicable Other  - then answer 56l 56b. Does an intermediary provide interface to depository? Yes  - then answer 56c No  - then answer 56d 56c. If yes, name intermediary: 56d. Is cross listing on the other exchange mandatory for usage of depository linkages? Yes  - then answer 56e No  - then answer 56e 56e. Is Delivery-vs.-payment settlement possible? Yes No Other. Please explain in 56j.  - then answer 56j 56f. Is Free-of-payment settlements required? Yes No Other. Please explain in 56k.  - then answer 56k 56k. If other, please explain: 56g. Timing of transfers: How are they effected? (Choose all that apply.) Batch mode Real time Not applicable Other  - then answer 56m 56m. If other, please explain: 56h. What is the percentage of all trades settled at your institution with this CSD or ICSD link? 56i. Do you have any additional electronic processing linkages with foreign depositories or settlement systems? Yes. If so please proceed to next question. No  ›› take you to 60 Other  - then answer 56n 56n. If Other, please explain: 56j. If other, please explain: 56l. If other, please explain:
57	If yes, identify entity, name of CSD or ICSD with which linkage has been established (if more than one, you will be prompted to enter their name at the end of this series of questions):   - then answer 57a 57a. Is the linkage Unilateral or Bilateral? (For an explanation of unilateral linkage and bilateral linkage, click on the "Help" button on the tool bar on the right side of this page.) (Choose all that apply.) Unilateral  - then answer 57b Bilateral  - then answer 57b Not applicable Other  - then answer 57l 57b. Does an intermediary provide interface to depository? Yes  - then answer 57c No  - then answer 57d Other  - then answer 57n 57c. If yes, name intermediary: 57d. Is cross listing on the other exchange mandatory for usage of depository linkages? Yes  - then answer 57e No  - then answer 57e Other  - then answer 57o 57e. Is Delivery-vs.-payment settlement possible? Yes No Other. Please explain in 57j.  - then answer 57j 57f. Is Free-of-payment settlements required? Yes No Other. Please explain in 57k.  - then answer 57k 57k. If other, please explain: 57g. Timing of transfers: How are they effected? (Choose all that apply.) Batch mode Real time Not applicable Other  - then answer 57m 57m. If other, please explain: 57h. What is the percentage of all trades settled at your institution with this CSD or ICSD link? 57i. Do you have any additional electronic processing linkages with foreign depositories or settlement systems? Yes. If so please proceed to next question. No  ›› take you to 60 Other  - then answer 57p 57p. If other, please explain: 57j. If other, please explain: 57o. If other, please explain: 57n. If Other, please explain: 57l. If other, please explain:
58	If yes, identify entity, name of CSD or ICSD with which linkage has been established (if more than one, you will be prompted to enter their name at the end of this series of questions):   - then answer 58a 58a. Is the linkage Unilateral or Bilateral? (For an explanation of unilateral linkage and bilateral linkage, click on the "Help" button on the tool bar on the right side of this page.) (Choose all that apply.) Unilateral  - then answer 58b Bilateral  - then answer 58b Not applicable Other  - then answer 58l 58b. Does an intermediary provide interface to depository? Yes  - then answer 58c No  - then answer 58d Other  - then answer 58n 58c. If yes, name intermediary: 58d. Is cross listing on the other exchange mandatory for usage of depository linkages? Yes  - then answer 58e No  - then answer 58e Other  - then answer 58o 58e. Is Delivery-vs.-payment settlement possible? Yes No Other. Please explain in 58j.  - then answer 58j 58f. Is Free-of-payment settlements required? Yes No Other. Please explain in 58k.  - then answer 58k 58k. If other, please explain: 58g. Timing of transfers: How are they effected? (Choose all that apply.) Batch mode Real time Not applicable Other  - then answer 58m 58m. If other, please explain: 58h. What is the percentage of all trades settled at your institution with this CSD or ICSD link? 58i. Do you have any additional electronic processing linkages with foreign depositories or settlement systems? Yes. If so please proceed to next question. No  ›› take you to 60 Other  - then answer 58p 58p. If other, please explain: 58j. If other, please explain: 58o. If other, please explain: 58n. If other, please explain: 58l. If other, please explain:
59	If yes, identify entity, name of CSD or ICSD with which linkage has been established (if more than one, you will be prompted to enter their name at the end of this series of questions):   - then answer 59a 59a. Is the linkage Unilateral or Bilateral? (For an explanation of unilateral linkage and bilateral linkage, click on the "Help" button on the tool bar on the right side of this page.) (Choose all that apply.) Unilateral  - then answer 59b Bilateral  - then answer 59b Not applicable Other  - then answer 59m 59b. Does an intermediary provide interface to depository? Yes  - then answer 59c No  - then answer 59d Other  - then answer 59o 59c. If yes, name intermediary: 59d. Is cross listing on the other exchange mandatory for usage of depository linkages? Yes  - then answer 59e No  - then answer 59e Other  - then answer 59p 59e. Is Delivery-vs.-payment settlement possible? Yes No Other. Please explain in 59j.  - then answer 59j 59f. Is Free-of-payment settlements required? Yes No Other. Please explain in 59k.  - then answer 59k 59k. If other, please explain: 59g. Timing of transfers: How are they effected? (Choose all that apply.) Batch mode Real time Not applicable Other  - then answer 59n 59n. If other, please explain: 59h. What is the percentage of all trades settled at your institution with this CSD or ICSD link? 59i. Do you have any additional electronic processing linkages with foreign depositories or settlement systems? Yes. If so please proceed to next question.  - then answer 59l No  ›› take you to 60 Other  - then answer 59q 59l. If yes, please prepare and upload a document with the additional information here: 59q. If other, please explain: 59j. If other, please explain: 59p. If other, please explain: 59o. If other, please explain: 59m. If other, please explain:
60	What governs the relationship in cross-system settlements? (Choose all that apply.) Negotiated terms and conditions of participation between the depositories By-laws of each depository Standard participation contracts with users of cross-system services Laws of the jurisdiction where settlement occurs Other  - then answer 60a 60a. Please explain:
61	Are procedures and controls (firewalls) in place to avoid systemic collapse or contamination if one of the linked entities should experience business interruptions for whatever reason? Yes  - then answer 61a No  - then answer 61a Other  - then answer 61a Not applicable 61a. Please explain:
62	Has a business interruption recovery plan been developed in the event the linkages should become inoperable for any reason? Yes No Other  - then answer 62a Not applicable 62a. If other, please explain:
ACCOUNT STRUCTURES AND RECORDKEEPING The purpose of this section is to identify the nature of accounts; the naming convention employed, the level of segregation achieved, accessibility in the event of bankruptcy and the frequency of reporting generated from them.
63	Are participants permitted to maintain more than one account at the depository? Yes  - then answer 63a No Not applicable Other  - then answer 63d 63a. If yes, please indicate number (Choose one.): An unlimited number of accounts. More than one account, if so please indicate below how many.  - then answer 63b Other (e.g., subaccounts).  - then answer 63c 63b. If more than one account what is the maximum? 99. 63c. If other, please explain: 63d. If other, please explain:
64	Are participants required/permitted to segregate assets held for their own benefit from those they hold for their clients? Yes  - then answer 64a No Not applicable Other  - then answer 64d 64a. If yes, is segregation required or simply permitted? Required  - then answer 64b Permitted  - then answer 64b Other  - then answer 64e 64b. How does segregation occur? (Choose all that apply.) By separately designated participant accounts. By sub-accounts within a single participant account. By separately designated beneficial owner accounts. Other (e.g., share registration).   - then answer 64c 64c. If other, please explain: 64e. If other, please explain: 64d. If other, please explain:
65	Does the depository permit its participants to open accounts in the participant's own nominee name(s)? Yes  - then answer 65a No Other. Please explain in 65b.  - then answer 65b Not applicable 65a. If “Yes”, do laws exist which acknowledge the rights of beneficial owners with respect to shares registered in nominee name? Yes No 65b. If other, please explain:
66	In the event a participant's single account is blocked for any reason (e.g., insolvency, penalties, violations, liens), would securities held in the account on behalf of the participant's clients be accessible: 66a. By the participant's clients? Yes  - then answer 66b No Not applicable. Other  - then answer 66i 66b. If yes, please describe briefly how clients of participants would access their holdings and whether there would be any delay in their ability to do so: The law recognizes legal actions on behalf of the beneficiary to claim for their securities. 66i. If other, please explain: 66c. By the intervening authorities controlling insolvency or other proceedings? Yes  - then answer 66d No Not applicable. Other  - then answer 66j 66d. If yes, please describe briefly under what conditions access would be granted to the intervening authorities: The intervening authorities have access to the accounts only for inventory purposes and then re-distribution of the securities belonging to the beneficiary. 66j. If other, please explain: 66e. By the participant's creditors? Yes  - then answer 66f No Not applicable. Other  - then answer 66k 66f. If yes, please describe briefly under what conditions access would be granted to the participant’s creditors: 66k. If other, please explain: 66g. By the depository's creditors? Yes  - then answer 66h No Not applicable. Other  - then answer 66l 66h. If yes, please describe briefly under what conditions access would be granted to the participant’s creditors: 66l. If other, please explain:
67	In what form does the depository maintain records identifying the assets of each participant? (Choose all that apply.) (Please refer to "Help" for clarification.) Computer file  - then answer 67b Microfiche  - then answer 67b Hard copy  - then answer 67b Computer tape  - then answer 67b Other  - then answer 67a 67a. If other, please explain: 67b. In which format is the source data maintained? Data base format.
68	Rule 17f-7 requires that an Eligible Securities Depository “provides periodic reports to its participants with respect to its safekeeping of assets, including notices of transfers to or from any participant’s account.” Does the depository provide periodic safekeeping reports to participants, including notices of transfers to or from the participant’s account? Yes  - then answer 68b No (You will be asked to confirm whether you want to move on to 70 in advance of answering subquestion 68a, do not be alarmed as it will allow you to answer 68a before moving on.)  - then answer 68a and  ›› take you to 70 Other  - then answer 68a 68a. If no or other, please explain: 68b. If yes, please indicate the scheduled frequency: (Choose one.) Daily. Weekly. Monthly. Quarterly. Annually. Upon Request. Other.  - then answer 68c 68c. If other, please explain:
69	What is your document retention policy for documents described in previous question? (Choose one.) 6 months or less. 1 year. 3 years. 5 years. 7 years. Other.  - then answer 69a 69a. If other, please explain: The information regarding safekeeping and transfers to or from participant’s accounts are kept for ever.
SETTLEMENTS The purpose of this section is to identify the model of settlement employed, the relationship between cash and securities, and the basis on which participants’ meet their obligations.
70	The Committee on Payment and Settlement Systems of the Bank for International Settlements (BIS) has identified three common structural approaches or models for linking delivery and payment in a securities settlement system. Please indicate which model your procedures most closely resemble (Please refer to details on the models within the "Help" feature connected with this question): (Choose all that apply.) Model 1 - Gross, Simultaneous Settlements of Securities and Funds Transfers.  - then answer 70a Model 2 - Gross Settlements of Securities Transfers Followed by Net Settlement of Funds Transfers.  - then answer 70a Model 3 - Simultaneous Net Settlement of Securities and Funds Transfers.  - then answer 70a Not applicable Other  - then answer 70b 70a. How do your settlement procedures vary from the model chosen above? It doesn’t vary from the model chosen above. Although model 2 is the most popular, we do on various occasions use model 3 (stocks). 70b. If other, please explain:
71	Are the cash and security movements simultaneous? Yes No  - then answer 71a Not applicable Other  - then answer 71c 71a. If cash and security movements are not simultaneous, please indicate the duration of the timing gap: (Choose one.) 1 hour or less 2 hours 3 hours 4 hours 5 hours Overnight 2 days Other  - then answer 71b 71b. If other, please explain: 71c. If other, please explain:
OWNERSHIP OF SECURITIES The purpose of this section is to determine how ownership of securities is represented, the ways the depository maintains ownership or control of securities held in the depository, and the extent to which ownership of assets held by the depository is separated from the proprietary assets of the depository. This section also considers the process by which the ownership of securities is transferred in the depository and the existence of any liens or claims on depository securities (such as a clearing lien) that would affect the ownership of depository securities.
72	How are depository eligible securities held by the depository? Securities in the depository are held in certificated form.  - then answer 72b Securities in the depository are held in dematerialized form. (You will be asked to confirm whether you want to move on to 74 in advance of answering subquestion 72c, do not be alarmed as it will allow you to answer 72c before moving on.)  - then answer 72c Other.  - then answer 72a 72a. If other, please explain and identify percentage issued of total depository holdings: Sixty percent of securities in the depository are dematerialized and the remainder are immobilized. 72b. If held in certificated form, please indicate next to the type of security the percentage of the depository's total issues that each security represents. (Please provide numeric answer.)  Government Securities in jumbo certificate form  Equities in jumbo certificate form  Corporate Bonds in jumbo certificate form  Corporate Money Markets in jumbo certificate form  Government Securities in individual certificate form  Equities in individual certificate form  Corporate Bonds in individual certificate form  Corporate Bonds in individual certificate form  Corporate Money Markets in individual certificate form  Other - please explain in 72d. 72d. If other, please explain: 72c. If held in dematerialized form, please indicate next to the type of security the percentage of the depository's total issues that each security represents. (Please provide numeric answer.)  Government Securities  Equities  Corporate Bonds  Corporate Money Markets  Other - please explain in 72e. 72e. If other, please explain:
73	If depository eligible securities are certificated, can depository eligible securities be held outside of the depository? All eligible securities must be held in the depository.  - then answer 73b Securities may move freely into and out of the depository.  - then answer 73g Once entered into the depository, eligible securities must remain in the depository.  - then answer 73b Certain designated securities may be held outside the depository.  - then answer 73a Not Applicable. Other  - then answer 73j 73a. If certain designated securities are held outside the depository, please indicate under which conditions these securities would be held outside the depository: 73b. If depository eligible securities are required to be centrally immobilized at the depository, where and with whom are the certificates safekept?   - then answer 73c 73c. Are these certificates: Bearer Registered  - then answer 73d Other  - then answer 73k 73d. If registered, how are the depository eligible securities registered? (Do not be alarmed, the last two options will prompt you to ask whether you wish to proceed to 75 before allowing you to answer the subquestion but you will be given the opportunity to answer the subquestion before continuing). In the name of the depository. In the name of the depositing participant or its nominee. In the name of a separate nominee of the depository.  - then answer 73f Other.  - then answer 73e 73e. If other, please describe: 73f. If in the name of a separate nominee, please identify by name the nominee used: 73k. If other, please explain: 73g. If depository eligible securities may be held either in or out of the depository, are these certificates: Bearer  - then answer 73h Registered  - then answer 73h Other. Please explain in 73i.  - then answer 73i 73h. What are the control features for receipt of certificates to the depository (e.g., authentication procedures, re-registration)? Please describe: Authentication procedures and asking to the issuer. 73i. If other, please explain: 73j. If other, please explain:
74	If securities are dematerialized: May dematerialized security positions be re-certificated and held outside the depository? Yes  - then answer 74a No  - then answer 74a Not Applicable Other  - then answer 74j 74a. Are the securities held: (Choose all that apply.) Through book-entry at the depository Through book-entry at a registrar or issuer  - then answer 74b Other  - then answer 74k 74b. Please identify which types of entities may act as registrars: (Choose all that apply.) Issuers Separate companies that perform registrar functions Depository Other  - then answer 74c 74c. Please explain: 74d. If the securities held by the depository are recorded by book entry at the registrar, are the securities registered only to the depository, with the depository providing the function of recording ownership on a centralized basis for the market? (Choose all that apply.) Yes  - then answer 74e No  - then answer 74g Other  - then answer 74l 74e. If yes, how are securities held at the registrar for the account of the depository? (Choose one.) In the name of the depository In the name of a separate nominee of the depository Other  - then answer 74f 74f. Please describe: 74g. If the securities held with the depository are recorded by book-entry at the registrar but are not registered exclusively to the depository, may they be registered to: The beneficial owner A nominee Other  - then answer 74h 74h. Please describe: 74i. If the securities held with the depository are recorded by book-entry at the registrar, what are the control features at the registrar for transfer of registrar positions to and from the depository (e.g., authentication procedures, reconciliation, confirmation of position at registrar)? Please describe: 74l. If other, please explain: 74k. If other, please explain: 74j. If other, please explain:
75	Rule 17f-7 requires that an Eligible Securities Depository “maintains records that identify the assets of each participant and segregate the system’s own assets from the assets of participants.” Does the depository maintain records that identify the assets of each participant and segregate the system's own assets from the assets of participants? Yes No Not applicable  - then answer 75a Other  - then answer 75a 75a. If other, please explain:
76	Does the law protect participant assets from claims and liabilities of the depository? Yes No Not applicable Other  - then answer 76a 76a. If other, please explain:
77	Can the depository assess a lien on participant accounts? (A lien would entitle the depository to take and hold or sell the securities of the participant in payment of a debt.) Yes  - then answer 77a No Not applicable Other  - then answer 77l 77a. If yes, for what reasons are liens or similar claims imposed? (Choose all that apply.) Fees and expenses Collateralization of overdrafts To secure payment for purchased securities Other  - then answer 77b 77b. Please describe: If the participant doesn’t want to recognize that he deposited certificates not valid to the issuer or registrar. Also if the security is deposited with some restrictions or prohibitions. 77c. Please indicate the limits of this lien as indicated below: (Choose one.) The lien is limited to securities in the participant’s proprietary account. The lien is limited to securities in the course of purchase and sale transactions, but does not extend to settled positions. The lien may extend to settled client positions.  - then answer 77d Other. Please explain in 77d.  - then answer 77d 77d. Please explain: 77e. If a lien is placed on a participant’s account which has been designated for its clients, will the depository select certain securities to be subject to the lien? Yes  - then answer 77f No  - then answer 77h Other  - then answer 77m 77f. If yes, please indicate whether: (Choose one.) the lien is placed on the most liquid securities in the account the lien is placed on the securities with the greatest value in the account other selection criteria is used.  - then answer 77g 77g. Please explain: 77h. If no, please indicate whether the entire account will be subject to the lien. Yes No Other  - then answer 77n 77n. If other, please explain: 77i. For accounts designated as client accounts, do procedures exist to restrict the placement of liens only to obligations arising from safe custody and administration of those accounts? Yes  - then answer 77j No Other  - then answer 77o 77j. If yes, are the restrictions accomplished by: contract between the depository and the participant other procedures  - then answer 77k 77k. Please explain: 77o. If other, please explain: 77m. If other, please explain: 77l. If other, please explain:
78	Transfer of Legal Ownership Does the depository have legal authority to transfer title to securities? Yes  - then answer 78a No Not applicable Other  - then answer 78e 78a. When does title or entitlement to depository securities pass between participants? (Choose one.) At the end of the business day on which the transfer occurs.  - then answer 78c When corresponding money or other consideration is transferred.  - then answer 78c When the transaction is processed on an intra-day basis.  - then answer 78c Other.  - then answer 78b 78b. Please describe: 78c. Where does title or entitlement to depository securities pass between participants? (Choose one.) On the depository books. On the registrars books. Other.  - then answer 78d 78d. Please describe: 78e. If other, please explain:
HANDLING OF SECURITIES OUTSIDE THE DEPOSITORY ENVIRONMENT The purpose of this section is to consider the process (and any risk inherent within such a process) that involves the safekeeping of client assets while they are being removed from a depository or being lodged into a depository.
79	How are eligible securities lodged in the depository system? (Choose all that apply.) A registered certificate in the name of the depository is delivered to the depository. A participant delivers the security with a valid transfer deed or stock power or other transfer document to the depository which then effects registration. A registrar re-registers the security in the name of the depository. Other.  - then answer 79a Not applicable 79a. Please describe:
80	When are securities lodged into the depository reflected in a participant's depository account? (Choose all that apply.) Securities are reflected in the participant's depository account immediately upon delivery to the depository. Securities are re-registered prior to being reflected in the participant’s depository account. Other.  - then answer 80a Not applicable 80a. Please explain: Stocks are re-registered, the other securities are reflected in the accounts immediately.
81	How long does it usually take to lodge securities with the depository? (Choose one.) 1 to 2 days. 3 days to 1 week. 2 to 4 weeks. More than 4 weeks.  - then answer 81a Not applicable. Other. Please explain in 81b.  - then answer 81b 81a. Please specify: 81b. If other, please explain:
82	During the process of lodging securities into the depository, can the securities: Be traded? Yes No  - then answer 82c Not applicable Other  - then answer 82c 82a. During the process of lodging securities into the depository, can the securities: Be settled? Yes No  - then answer 82d Not applicable Other  - then answer 82d 82b. During the process of lodging securities into the depository, can the securities: Have ownership transferred? Yes No  - then answer 82e Not applicable Other  - then answer 82e 82e. If ownership can not be transferred, or if you answered other, please explain: Ownership can be transferred only if the securities are registered in the participant’s accounts. 82d. If they can not be settled, of if you answered other, please explain: They can be settled only if the securities are registered in the participant’s accounts. 82c. If they can not be traded, or if you answered other, please explain:
83	Are securities immediately available for delivery upon transfer to the depository? Yes No  - then answer 83a Not applicable Other  - then answer 83d 83a. If no: Securities are unavailable for: 1 to 2 days 3 days to 1 week 2 to 4 weeks More than 4 weeks  - then answer 83b Other. Please explain in 83c.  - then answer 83c 83b. If more than 4 weeks, please specify: 83c. If other, please explain: 83d. If other, please explain:
84	Are eligible securities held through the depository afforded the same or greater efficiencies as securities held outside the depository with respect to: 84a. Income? (Choose one.) Not applicable No  - then answer 84b Yes - for all instrument types Yes - for the following instrument types only:  - then answer 84c Other  - then answer 84b 84b. Please explain: 84c. Name instrument types: 84d. Corporate actions? Not applicable No  - then answer 84e Yes - for all instrument types Yes - for the following instrument types only:  - then answer 84f Other  - then answer 84e 84e. Please explain: 84f. Name instrument types: 84g. Proxy Services? Not applicable No  - then answer 84h Yes - for all instrument types Yes - for the following instrument types only  - then answer 84i Other  - then answer 84h 84h. Please explain: 84i. Name instrument types:
85	Can securities held outside of the depository: 85a. Be traded without being lodged at the depository? No  - then answer 85b Not applicable Yes Other  - then answer 85b 85b. Please explain: 85c. Be settled without being lodged at the depository? No  - then answer 85d Not applicable Yes  - then answer 85e Other  - then answer 85d 85d. Please explain: The shares can be settled only if they are lodged at the depository. The others securities can be settled without being lodged at the depository. 85e. If yes, do settlements of depository-eligible securities occurring outside the depository take longer to settle? Yes No Not applicable Other  - then answer 85h 85h. If other, please explain: 85f. Have ownership transferred without being lodged at the depository? No  - then answer 85g Not applicable Yes Other  - then answer 85g 85g. Please explain:
86	How are eligible securities removed from the depository? (Choose one.) Securities are re-registered into the name of the beneficial owner or a nominee. Securities are re-certificated and re-registered into the name of the beneficial owner or a nominee. Securities are re-certificated and delivered as bearer instruments. Securities are transferred as is any physical delivery in the market. Other  - then answer 86a Not applicable 86a. Please specify: Stocks are re-registered into the name of the beneficial owner. The others securities are transferred as is any other physical delivery in the market.
87	How long does it usually take to remove securities from the depository? (Choose one.) 1 to 2 days 3 days to 1 week 2 to 4 weeks More than 4 weeks  - then answer 87a Not applicable Other. Please explain in 87b.  - then answer 87b 87a. Please specify: 87b. If other, please explain:
88	While the securities are being removed from the depository, can they: 88a. Be traded? (Choose one.) No  - then answer 88b Not applicable Yes Other  - then answer 88b 88b. Please explain: 88c. Be settled? No  - then answer 88d Not applicable Yes Other  - then answer 88d 88d. Please explain: The securities are blocked in a holding account. 88f. Have ownership transferred? No  - then answer 88g Not applicable Yes Other  - then answer 88g 88g. Please explain: The securities are blocked in a holding account.
89	Where are securities that are outside the depository held in safekeeping? (Choose all that apply.) Securities are dematerialized; ownership of securities is identified through the records of the company registrar. Securities are held physically, registered on behalf of the beneficial owner or a nominee and physically safekept by subcustodian banks. Securities are held physically in bearer form in subcustodian banks. Securities may be held physically by brokers, the registrar, or beneficial owner. Other  - then answer 89a Not applicable 89a. Please specify:
STANDARD OF CARE The purpose of this section is to understand the responsibility and liability that the depository has in providing services to its participants/members in the settlement and clearing of securities and/or cash, and to understand what type of protections exist for participants in the event of a participant failure/default. Depository Liability
90	Does the depository accept liability (independent of any insurance coverage) for the following: 90a. Reconciliation errors with the registrar and/or issuer? No Not applicable Yes  - then answer 90b Other  - then answer 90q 90b. If yes, please check all of the following that apply: Financial limits are imposed on the amount of liability assumed by the depository The depository assumes liability for direct losses The depository assumes liability for indirect or consequential losses Other  - then answer 90y 90y. If other, please explain: 90q. If other, please explain: 90c. Theft of securities (either physical certificate or electronically from accounts at the depository) from the depository? No Yes  - then answer 90d Not applicable. Other  - then answer 90r 90d. If yes, please check all of the following that apply: Financial limits are imposed on the amount of liability assumed by the depository The depository assumes liability for direct losses The depository assumes liability for indirect or consequential losses Other  - then answer 90z 90z. If other, please explain: 90r. If other, please explain: 90e. Failure of the depository’s systems that result in direct damages or losses to participants because they cannot use either securities or funds? No Yes  - then answer 90f Not applicable. Other  - then answer 90s 90f. If yes, please check all of the following that apply: Financial limits are imposed on the amount of liability assumed by the depository The depository assumes liability for direct losses The depository assumes liability for indirect or consequential losses Other  - then answer 90{ 90{. If other, please explain: 90s. If other, please explain: 90g. Any loss caused by the depository due to errors, omissions or fraud that cause direct damages or losses to participants? No Yes  - then answer 90h Not applicable. Other  - then answer 90t 90h. If yes, please check all of the following that apply: Financial limits are imposed on the amount of liability assumed by the depository The depository assumes liability for direct losses The depository assumes liability for indirect or consequential losses Other  - then answer 90| 90|. If other, please explain: 90t. If other, please explain: 90i. The depository acting as the central counterparty? No Not applicable Yes  - then answer 90j Other  - then answer 90u 90j. If yes, please check all of the following that apply: Financial limits are imposed on the amount of liability assumed by the depository The depository assumes liability for direct losses The depository assumes liability for indirect or consequential losses Other  - then answer 90} 90}. If other, please explain: 90k. Does the depository guaranty settlement? No Yes  - then answer 90l Not applicable. Other  - then answer 90v 90l. Please explain how this is accomplished. What are the procedures and safeguards that permit the depository to guaranty settlement? 90v. If other, please explain: 90u. If other, please explain: 90m. Force majeure events, acts of God, or political events, etc.? No Yes  - then answer 90n Not applicable. Other  - then answer 90w 90n. If yes, please check all of the following that apply: Financial limits are imposed on the amount of liability assumed by the depository The depository assumes liability for direct losses The depository assumes liability for indirect or consequential losses Other  - then answer 90~ 90~. If other, please explain: 90w. If other, please explain: 90o. In all cases where the depository assumes responsibility for direct or indirect or consequential losses, is the depository’s liability limited by a standard of care determination? No Yes  - then answer 90p Not applicable Other  - then answer 90x 90p. Please define the standard of care applied: 90x. If other, please explain:
91	Do the depository’s written contracts, rules, or established practices and procedures provide protection against risk of loss of participant assets by the depository in the form of? 91a. Indemnification Yes  - then answer 91b No Other  - then answer 91b Not applicable 91b. Please explain:   - then answer 91i 91i. Please provide details of the relevant sections of the contracts, rules or practices where this information is found. 91c. Insurance Yes  - then answer 91d No Other  - then answer 91d Not applicable 91d. Please explain:   - then answer 91j 91j. Please provide details of the relevant sections of the contracts, rules or practices where this information is found. 91e. Acknowledgement of liability for losses caused by depository's own actions. Yes  - then answer 91f No Other  - then answer 91f Not applicable 91f. Please explain:   - then answer 91k 91k. Please provide details of the relevant sections of the contracts, rules or practices where this information is found. 91g. Other Yes  - then answer 91h No 91h. Please explain: Our contracts, internal rules and regulations (law 18.876) stipulate that the depository shall be held responsible for any loss of participant’s assets.   - then answer 91l 91l. Please provide details of the relevant sections of the contracts, rules or practices where this information is found. Clause 4th and 5th of the contract; chapter 2.2 of the depository internal regulation; articles 15th, 27th and 28th of the law 18876.
92	Is the depository immune from legal action in its own jurisdiction? Yes No Other  - then answer 92a 92a. If other, please explain:
Security Control
93	How do participants receive information (view actual settlement of trades, movement of securities on their accounts, etc.) and see the status of their accounts? (Choose all that apply.) By direct electronic link By receipt of physical account holding statements Other  - then answer 93a Not applicable 93a. Please explain:
94	Do participants have access to affect their holdings, including confirming and affirming trades, movement of securities on their accounts, etc.? Yes  - then answer 94a No Other. Please explain in 94d.  - then answer 94d Not applicable 94a. How is access given to participants? (Choose all that apply.) By direct electronic link  - then answer 94b Other  - then answer 94c 94b. Please select type of electronic link: Dial-up modem Secured, leased, dedicated telephone line Internet Fax 94c. Please explain: 94d. If other, please explain:
95	Regarding data security: 95a. Are passwords used by participants to access their accounts? Yes No Not applicable Other  - then answer 95g 95g. If other, please explain: 95b. Does each user have a unique user ID? Yes No Not applicable Other  - then answer 95h 95h. If other, please explain: 95c. Are passwords regularly changed? Yes  - then answer 95d No Not applicable Other  - then answer 95i 95d. How often? Every 90 days. 95i. If other, please explain: 95e. Is there a user lock-out after a pre-set number of unsuccessful User ID attempts? Yes  - then answer 95f No Not applicable Other  - then answer 95j 95f. How many? 5 95j. If other, please explain:
96	Does the depository communicate with other market entities such as stock exchanges, payment systems, clearing houses, etc., by secured linkages? Yes  - then answer 96a No  ›› take you to 98 Not applicable  ›› take you to 98 Other  - then answer 96a 96a. Please explain: The depository communicate with stock exchanges and issuers.
97	How does the depository communicate with other market entities? 97a. Stock Exchanges (Choose all that apply.) Dial-up modem Secured, leased, dedicated telephone line Internet Fax Paper/other Not applicable 97b. Payment Systems (Choose all that apply.) Dial-up modem Secured, leased, dedicated telephone line Internet Fax Paper/other Not applicable 97c. Clearing Houses (Choose all that apply.) Dial-up modem Secured, leased, dedicated telephone line Internet Fax Paper/other Not applicable 97d. Are there any other entities? Yes  - then answer 97e No 97e. Please identify: Issuers (or institution designated by the issuers) of the securities held in the depository.   - then answer 97f 97f. How does the depository communicate with this/these other market entity/entities? (Choose all that apply.) Dial-up modem Secured, leased, dedicated telephone line Internet Fax Paper/other
98	How is access to the physical building controlled? (Choose all that apply.) By guards By electronic keys/personal ID card By alarm system Other  - then answer 98a 98a. Please explain: CCTV; movement sensors.
99	What are the vault security procedures for the safekeeping of physical paper? (Choose all that apply.) Not applicable; no vault is maintained Electronic keys/combinations Dual access control Visitor logs Vault counts  - then answer 99a Intrusion alarms Fire alarms Guards Other  - then answer 99b 99a. Please indicate frequency of vault counts: 6 times a year. Each time 6.000 titles. 99b. Please explain: System against flood.
Participant Default Protections Resulting from a Participant Failure
100	If a participant defaults, how is the loss covered? (Choose all that apply?) Depository insurance covers the loss  - then answer 100a The depository guaranty fund covers the loss Loss is shared among participants  - then answer 100b Other  - then answer 100c Not applicable 100a. Please explain the process: 100b. Please explain the process of how the loss is shared: (Choose one.) Equally, among participants Pro-rata based on participant's volume Limited to participants with transactions with failing counterparty Other  - then answer 100d 100d. If other, please explain: 100c. Please explain: The depository assures delivery of the securities versus payment of the cashier check. The cashier checks are issued against available funds in the buyer’s account. Once the check is issued, these funds are retained by the bank. These documents have the guarantee of the Central Bank of Chile.
101	During the past three years, has there been a situation where a participant defaulted which resulted in a significant loss? Yes  - then answer 101a No Not applicable Other  - then answer 101a 101a. How was the situation resolved? Or if you answered "Other," then please explain:
102	Does the depository have a guaranty fund independent of stock exchange or other market guarantees? Yes  - then answer 102a No  ›› take you to 103 Not applicable  ›› take you to 103 Other  - then answer 102l 102a. If yes, please respond to the following questions: What is the size of the fund?   - then answer 102b 102b. How is the size of the fund determined? (Choose one.) By participant volume By asset value A fixed amount Other  - then answer 102f 102f. If other, please explain: 102c. How is the fund financed? (Choose one.) Contributions from owners  - then answer 102g Contributions from participants  - then answer 102h Funding from retained earnings Other  - then answer 102i 102g. If so, what is the amount or percentage per owner? 102h. If so, what is the amount or percentage per participant? 102i. If other, please explain: 102d. Who is covered by the fund? (Choose all that apply.) Direct depository participants only The beneficial owner also Other  - then answer 102j 102j. If other, please explain: 102e. When is the guaranty fund used? (Choose all that apply.) When a broker defaults When a direct participant defaults Other  - then answer 102k 102k. If other, please explain: 102l. If other, please explain:
103	Does the depository have forms of oversight management for assessing and monitoring of the following? (Choose all that apply.) Participant eligibility requirements Participant volumes Participant financial strength Other loss or default protections the depository maintains  - then answer 103a Collateral requirements for participants  - then answer 103b Debit caps for participants  - then answer 103c Settlement controls that minimize or eliminate the risk of default by a participant  - then answer 103d Blocking of securities movement before receipt of payment Blocking payment until securities are moved Other forms of risk management used for assessing and monitoring participant exposures  - then answer 103e Not applicable 103a. Please explain other loss or default protections: 103b. Please explain the requirements: 103c. Please explain how these debit caps work: 103d. What type or types of settlement controls (Choose all that apply.) Blocking or freezing of securities positions  - then answer 103f Controlling DVP settlement  - then answer 103g Simultaneous DVP  - then answer 103h Other  - then answer 103i 103f. Please explain: After registering the trade in the depository system and before the settlement, the securities position stay in a holding account. 103g. Please explain: 1. Buyer goes to the seller and pays the trades with a cashier check. The cashier checks are issued against available funds in the buyer’s account. Once the check is issued, these funds are retained by the bank. These documents have the guarantee of the Central Bank of Chile. 2. Seller receives the payment and registers this in the depository system. 3. Securities are transferred to the buyer account. 103h. Please explain: 103i. Please identify and explain: 103e. Please explain briefly how these work:
104	Does the stock exchange have default protections that extend to the depository, such as the following? (Choose all that apply.) Margin requirements for stock exchange members Guaranty fund for stock exchange members Financial requirements for stock exchange membership Other  - then answer 104a No Not applicable 104a. Please explain:
BUSINESS RECOVERY PLAN This section is intended to identify key aspects of the depository’s Business Recovery Plan ("BRP"), including testing requirements and past results, expected recovery time periods, and the independent review and validation (if any) of the BRP.
105	Do you have a formal business recovery plan? Yes  - then answer 105a No Other  - then answer 105g 105a. Does your Business Recovery Plan include: (Choose all that apply.) Back-up of all computer files Off-site data storage Back-up files stored and locked Off-site operations facility Other  - then answer 105h 105b. Please identify the frequency of testing for the following 3rd Party: Depository Participants/Members Every 3 months. 105c. Please identify the frequency of testing for the following 3rd Party: Stock Exchange Every 3 months. 105d. Please identify the frequency of testing for the following 3rd Party: Central Bank Every 3 months. 105e. Please identify the frequency of testing for the following 3rd Party: Local Brokers Every 3 months. 105f. Please identify any Other 3rd Party and identify their frequency of testing: Issuers, every 3 months. 105h. If other, please explain: 105g. If other, please explain:
106	How quickly can the main system be reactivated in the event of an outage? (Choose one.) 1 - 4 hours 4 - 8 hours 8 - 24 hours Longer than 24 hours Not applicable Other  - then answer 106a 106a. If other, please explain:
107	If a back-up system exists, how quickly can the back-up system be activated in the event of the main system failing? (Choose one.) 1 - 4 hours 4 - 8 hours 8 - 24 hours Longer than 24 hours Not applicable Other. Please explain in 107a.  - then answer 107a 107a. If other, please explain:
108	Will the depository publicly announce any system interruption? Yes  - then answer 108a No  ›› take you to 109 Not applicable Other  - then answer 108g 108a. To whom will the depository disclose any system interruptions? (Choose all that apply.) To the depository regulators To all direct participants To direct and indirect participants To the public via the internet  - then answer 108c In the press  - then answer 108d Other  - then answer 108e 108b. How will the depository disclose any system interruptions? (Choose all that apply.) By e-mail By telephone Public announcement Press release Other  - then answer 108f 108f. Please explain: By letter. 108c. If so, please list webpage address: 108d. If so, please list publications: 108e. Please explain: 108g. If other, please explain:
109	In the past three years, has it been necessary to activate the recovery plan in a live situation? Yes  - then answer 109a No Not applicable Other  - then answer 109d 109a. If yes: How much time was needed to implement the recovery plan? (Choose one.) Less than 1 hour  - then answer 109b 1 - 2 hours  - then answer 109b 2 - 4 hours  - then answer 109b Longer than 4 hours  - then answer 109b 109b. How much time was needed to recover and restore business to normal operations? (Choose one.) 1 - 4 hours  - then answer 109c 4 - 8 hours  - then answer 109c 8 - 24 hours  - then answer 109c Longer than 24 hours  - then answer 109c 109c. What was the impact to the market? (Choose all that apply.) All securities settlements took place as scheduled on the same day with good value All cash settlements took place as scheduled on the same day with good value All securities settlements took place one business day late with good value All cash settlements took place one business day late with good value All securities settlements took place one business day late with value one day late All cash settlements took place one business day late with value one day late All securities settlements took place more than one business day late All cash settlements took place more than one business day late As a result of the system failure, all fines and penalties for late settlements were waived Even though there was a system failure, all fines and penalties for late settlements were still assessed Other  - then answer 109e 109e. If other, please explain: 109d. If other, please explain:
PERFORMANCE, INSURANCE AND LOSS This section is intended to identify the level of insurance maintained by the depository, and the extent to which coverage would extend to financial loss incurred by participants and their clients, including but not limited to losses resulting from operating performance, security breaches, and employee negligence or misconduct.
110	Has there been any material loss by the depository during the past three years? Yes  - then answer 110a No Other. Please explain in 110b.  - then answer 110b Not applicable 110a. If there has been a loss, please describe the cause, the final impact and the action taken to prevent a recurrence: 110b. If other, please explain:
111	Has the depository been subject to any litigation involving a participant during the past three years? Yes  - then answer 111a No Other. Please explain in 111b.  - then answer 111b Not applicable 111a. Please explain the circumstances and resolution: 111b. If other, please explain:
112	Has the depository realized revenues sufficient to cover expenses during the past three years? (Choose one.) Yes for all three years Yes for two of the last three years Yes for one of the last three years None of the last three years Not applicable Other  - then answer 112a 112a. If other, please explain:
113	Does the depository maintain a reserve for operating losses? Yes  - then answer 113a No Not applicable Other  - then answer 113b 113a. Please describe and indicate reserve amount: 113b. If other, please explain:
114	Has the regulatory body with oversight responsibility for the depository issued public notice that the depository is not in current compliance with any capital, solvency, insurance or similar financial strength requirements imposed by such regulatory body? Yes  - then answer 114a No Not applicable Other  - then answer 114f 114a. Please describe:   - then answer 114b 114b. In the case of such a notice having been issued, has such notice been withdrawn, or, has the remedy of such noncompliance been publicly announced by the depository? Yes  - then answer 114c No  - then answer 114d Other. Please explain in 114e.  - then answer 114e 114c. If Yes, please describe: 114d. If No, why not? 114e. If other, please explain: 114f. If other, please explain:
115	Does the depository have insurance for Default? Yes  - then answer 115a No Not applicable Other  - then answer 115c 115a. What is the amount of the coverage? USD 87 million.   - then answer 115b 115b. What is the amount of the deductible? The per event deduction is USD 150.000. 115c. If other, please explain:
116	Does the depository have insurance for Fidelity? Yes  - then answer 116a No Not applicable Other  - then answer 116c 116a. What is the amount of the coverage? USD 87 million.   - then answer 116b 116b. What is the amount of the deductible? The per event deduction is USD 150.000. 116c. If other, please explain:
117	Does the depository have insurance for Operational Errors? Yes  - then answer 117a No Not applicable Other  - then answer 117c 117a. What is the amount of the coverage? USD 2 million.   - then answer 117b 117b. What is the amount of the deductible? The per event deduction is USD 50.000. 117c. If other, please explain:
118	Does the depository have insurance for Errors and Omissions? Yes  - then answer 118a No Not applicable Other  - then answer 118c 118a. What is the amount of the coverage? USD 2 million.   - then answer 118b 118b. What is the amount of the deductible? The per event deduction is USD 50.000. 118c. If other, please explain:
119	Does the depository have insurance for Computer Fraud? Yes  - then answer 119a No Not applicable Other  - then answer 119c 119a. What is the amount of the coverage? USD 87 million.   - then answer 119b 119b. What is the amount of the deductible? The per event deduction is USD 150.000. 119c. If other, please explain:
120	Does the depository have insurance for the Premises? Yes  - then answer 120a No Not applicable Other  - then answer 120c 120a. What is the amount of the coverage? USD 6 million.   - then answer 120b 120b. What is the amount of the deductible? The per event deduction are 5 days. 120c. If other, please explain:
121	Does the depository have any other insurance? Yes  - then answer 121a No Not applicable Other  - then answer 121d 121a. If so, what is it for? Directors and Officers.   - then answer 121b 121b. What is the amount of the coverage? USD 2 million.   - then answer 121c 121c. What is the amount of the deductible? 0 for each Director and USD 50.000 for the company 121d. If other, please explain:
122	Who is the insurance carrier? If more than one insurance carrier, please list each carrier here and provide your responses to question's 122a and 122b in corresponding order. Willis Insurance Company: American International Group (AIG Chile) 50%; Chubb Chile 22%; Cruz del Sur 28%.   - then answer 122a 122a. Who is the insurance carrier's parent company, if applicable? (If inapplicable, simply type n/a.) Willis Insurance Company   - then answer 122b 122b. What is the term of the policy? The DCV carries insurance in the form of a Bankers Blanket Bond (NMA2626) and Electronic Fraud (LSW938), which applies in cases such as: electronic fraud, loss of subscription rights, employee dishonesty, mysterious disappearance, authenticity fraud and robbery. The limits of responsibility is 1/1000 of the value of the securities held under custody, with a maximum coverage of USD 90 million. The per event deduction is an inconsequential USD 150,000. At the end of September 2003 the capitalisation of all the securities held in DCV came to USD 87 billion, so the coverage at this date was USD 87 million.   - then answer 122c 122c. Who does the insurance cover? (Choose all that apply.) Depository Direct depository participants Final investors Other  - then answer 122d Not applicable 122d. If other, please identify:
123	If you feel that you would like to provide additional details on any of the given answers, feel free to provide any additional comments here (maximum of 5,000 characters) or prepare an additional document identifying the question(s) you are commenting on and upload the document under 123a: We don’t need provide additional details. 123a. Upload document here:
PUBLIC AVAILABILITY
124	The AGC encourages respondents/depositories to make their answers to this questionnaire publicly available. Will you be making your response publicly available? (For additional guidance, please review the help feature to this question.) Yes  - then answer 124a No 124a. If yes, how will you be making it publicly available: (Choose all that apply.) Web site  - then answer 124b By individual request with depository  - then answer 124c Other  - then answer 124i 124b. Please provide web site address of publicly available questionnaire: http://www.dcv.cl/ 124c. Please provide name of contact at depository who has been designated to receive such requests.   - then answer 124d 124d. How would they prefer to be contacted? (Choose all that apply.) Telephone  - then answer 124e Facsimile  - then answer 124f By mail/air courier  - then answer 124g By e-mail  - then answer 124h 124e. Please provide telephone number: 124f. Please provide facsimile number: 124g. What is the preferred street address for mailing requests? 124h. What is the preferred e-mail address for such requests: 124i. If other, please describe how you will be making the questionnaire publicly available: 124j. Have you updated your contact details on the home page of this questionnaire? If not, please be sure to do so. Simply click on the "Home" button in the right tool bar and it will return you to the home page containing your contact detail information. You have reached the end of the questionnaire. Please be sure to print your responses and review them prior to submitting your questionnaire. (To print, click on the "Print" button in the right hand tool bar. This will open up a separate window in your web browser. It may take a few moments for the information to load. Once it has loaded, you will be able to scroll through your entire questionnaire and then to print, you must choose the print feature from your web browser. In many cases, this is: "file" then "print." Clicking on the "print" button alone in the questionnaire toolbox will not print the questionnaire.) It is important that you ensure the accuracy of your draft responses before submitting the responses as submission will finalize your response. When you are prepared to submit your answers, please return to this question and select "save" (or in the alternative select "end" from the toolbox) which will then take you to the submission option provided all the necessary questions have been answered. The members of The Association of Global Custodians thank you for your time and for your helpful response.

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